Company ffgistration nwnber. 3471844 Charity registration numb¢r. 1137490 African Cultural Exchange Limited known Th¢ Link Danc¢ Space (A ¢ompJny limited by guorantee) AnnuAI Report and Financi Stst¢mmts for th¢ YearEnded 31 March 2024 Bissell & Brown Birmin8h8tTh Ltd Chartered Accountants 12 Pothkn Road Ktngs H¢ath Binningham B130SL
Afrlean Cultural Ex¢haDge Limited known as The Link Dance Space Cont¢nts Refer¢n¢e and Admlnistrative Detsilj Trust¢¢s' Report 2to7 St4¢em¢nt of Tntte8, Responsibilities Independent Bx8min&s Report St4t¢m¢nt of Financial A¢tivities io Balance Sheet 11 to 12 Notes to the Fln•n¢ial Stat¢ments 13to21
African Cultsral Ex¢hange Limited l(nown a8 The Link DaDce Space Referell¢¢ and AdmlnL¥tratfve Detal Trustees Paul Udenze Nig¢1 Bry Gardner Vinceni U8boh 1137490 ChxTIty RrylitrAtlon Numb*r CompAny R¢%lstrat5on Number 3471844 The chority is inwrporated in England & Wales. The LiDk Danc¢ Space 54-57 Floodgat• St Digb¢th Bim?ingham B5 SSL Regtsttr¢d Office Indepethdent ExAmlner Bijsell & Brown BIrnLln8hwn Lid Chart¢r¢d A¢count4n¢s 12 Porttnan RoAd Kings H¢ath BLmiin8ham B130SL
Africv4n Cultural Exchange Limited known as The Link Dance Spa¢e Trustees, Report The trnstees, who ar¢ dire¢tors for th¢ purposes of wmpany law, present th¢ Unnu report tO8eth¢r with th¢ finunoi&l ststsments of the charitsble company (or the year ended 31 March 2024. TTUStees P4uI Uden7x Nig¢( Bryc¢ Gthtn¢r Vincent U8boh ObJectlve$ Ind Aetlvltltj ObJ*¢ts Alms To advance ¢du¢wtion for th¢ publi¢ benefit by the promotion of th¢ arts. in parti¢ular but ttot exelusively rhe art of dance. The company was r¢8j5tered with Charity Commission 13 August 2010. ACE dance and mu5j¢ 15 on¢ of the most highly re88rded, ]ecti¢ And resilient dance companies in the UK led by Artistic DIrecr, Gail PArniel. Founded in 1990, BimLin8h3m based ACE d8nre and musi¢ (African CUItt Exehan8e Ltd.) is & profesiion41 dance c.ompany b&s¢d in the West Midlands. Und¢r the artistic direction of Gail Pann¢l and Music dirtiOn of lan Pamhel. ACE don¢e and music fuse traditional Afri¢An ortd Caribbeart dance &e5thetic with eontempordry technLqU¢S to Greate hEgh quality innovative perforni8n¢¢ work, outreach attd education pro8ramm¢s for adults d young p¢ople in a variety of fomial and infonnal settings wtthin Birniingham, Ihe West Midlands region, acros$ the UK and inCrs1n81Y in mainland Europe. The Company's work involves music collaboration5, th¢ use of n¢w and digitsl medio 8nd techniques from other perforniing arts including theatre. Throughout 2023124 ACE dance and musi¢ have continued to make prn8res9 in achieving objectiY¢s within th¢ir busirtes$ plan. See key a¢hievem¢nts h¢re.' Page 2
African Cultural Exchange Lxmited knoivn as Tbe Link Dance Space Trllstees, Repor¢ Objedlves, strai1¢1 aKd47cllvldes UNKNOWN REALMS International Tour-April 2023-Nov¢mbor 2023 The UNKNOWN IIEALMS double bill extended its lour throughout the Sprin8 and Autumn 2023 season5. The prof¢ssional company of 7 dall¢ers perfornied 19 dates between April and November 2023. four of which were in South Africa and two of which wcrr in Amsierdam, to a total audience of 2275. Tlie tour was an unprecedented success in a louriDg ¢nvironment 8tncrally very negatively aff¢¢ted by Covid and subyequent loCkdoMs. Reviews of the two pieces of wot, The Night Before Tomorrow and MANA wcr¢ ¢xtr¢m¢ly p05jtiv¢ and h&ve generated sÉgnificant interest from programmers in ACE'3 next production for the Autt]mn 2025 se&80n. "Words can not ¢xp14in my admiration fot ail involved. Outstanding perftsmiance. thank you. How can you have ¢onvey¢d the hurt and pain of tlie human r¢ inflicts on itself so brilliantly., Shrewsbury "l am blown away, my heart is still poundin8 1 want to wat¢h it all over again. Phenomenal on every level. Will stay with mel ThAnk you." "Th• work ¢xudes an urg¢n¢y - th¢ daacers perfomi like there is no tomorrow- they're living in th¢ moment ond lettin8 go of 411 ih4t suppr¢sses them in their daily lives. They iry to frr¢ [heM1V¢S from colonial mentality un4war¢ of what É$ to Come tomorrow- not nece5sorily concerned if there is or will be o'tomorrow" r'm left pondering the idea of "tornorrow" And how often we take this for gr8nt¢d, but a150 how'tomorrow" 15 often used as the proinise of something more. or better to come- this is p¢ninenl lo the corttempordry South Afri¢8n psyche at the moment., From World5 Beyond Ima8Lttgtion, Medium. Thnb¢la Sibiya Camivai is Colour- July 2023 Carnivaj is Colour was an tducatlort proJe¢t run by ACE dance ond mwsi¢ rry partnership with Black Ctsunty Dan¢e Hub iii June- July 2023. ACE prof¢s$50nal datL¢ers, two earlyw¢arpcr dance arti8¢s And a Iwal ¢raft llrtist delivered weekly dRnce and craft workshop5 Wlth 165 ¢hildren from 5 primary schools across the Black Country culmining in 4 perfonnarLC¢ alongsid¢ ACE Youth ¢ompony 8nd Fused 4t the New Art Gallery Walsall in July 2023. Each school, performan¢¢ inspired by M ditr#r¢ni Caribbean country 8nd their stunnirt8 rtational flower, ¢T¢8tins a hu8e botanical ¢amiYal celebratioth With dance, choral music and crafts. Th¢ s¢hi)ol sroups takin8 part l¢am¢d about 4nd ett8a8ed in the hiBlory of Caribbean Carnival, the cultural connections and global perspe¢tive of Caribbean untriej. "I hay¢ been so emotional. I can't believe the confidence you have given th¢m in 6 weeks., School t¢&cher at Colour is CamivAI perfomlance. "I have loved learning the 'ACE way, of ieaehittg. I've mlly ¢njoy¢d leArnw8 aFAiut the techniques you us¢. lik¢ using similes instead of ¢ountin8> and th¢ idea of using trayelling to teach movos in the choreo8raphy.......... I have also learnt a lot about encoura8cmcrtt- L'v¢ found sincx workin8 Wlth ACE I'm lot more vo1 8boul expr¢s5ing wh¢n my stud¢nts they have done something well by ¢h¢ering or SAyin8 enctsurd8in8 things whilst th¢y're dancing. which giYe5 Ihem that extrn push." Black Country Dthre Artist working on Carnival is Colour. Page 3
AfricAn Cultural Exchange Limitsd known a5 The Link Dance Space Trustees, Report Carnivll Windrush- Au8USt 2023 On Sunday 6th August 2023. thousand$ of people descended on tho Naiional Memorial Arbtsretum to llttend Carnival Windntsh, an immersive and vibrant celebration of the Windrush G¢n¢ration. Captivated by the po¢try. invigoratin8 musi4 soulful songs and mesmerisin8 danees, visitors re ioken on a cultural journey to the Caribbean. ACE dance and music led a Carnivat Prne¢3sion through the garden5 to the Jtag¢, wh¢r¢ ¢8¢h ¢18ss programme group from Mini5 to our adult rlass perfornied their Camivil pieces. ACE also brought Eternity dNmming group from AmstErd&m. the Mighty Jamma slee1-p artist, face-paint and craft art25ts ond Of cour5¢ our iDimitabl¢ Carnivaj co8M¢S io The party. The fre¢ ¢v¢nt, or8anised in collaburaiion with Bla¢k Voices, AssoGi&te partners of the Arboretum, explored th legacy of the HMT Empir¢ Windrush which iVed on UK thores 75-year5 a80. and th¢ SignifinI role the 'WindnLsh Generation, play¢d in r¢buildin8 the wuntry aft¢r the Second World War. Doorstep carniv - Au8itst 2023 ACE Dgm¢e and Music, in partnership with Blaek Voices. presented a Doorstep Carnival at ORS on the August Bk Holiday Saturday 2023. Thi5 the second ev¢nt of its kind lo be delivered at the v¢nue. The first one wa5 held as part of our off¢ring for th¢ B2022 Cultural Festival to ¢elebr&te the Commonwealth Games i&kin8 place in Biminghllm. At the lime, we were inundated with numerous requosts from members of the local Birchfield community for ftntslher D¢)OT5tep Camival. We f¢lr that it was important to acknowledge the wishes of the ¢ommunity 80 th4t w¢ could establish the Doorstep Carniv41 as a lastin8 le8acy from the Con)monweAIth Gam¢s. Desplte the disappointing weather that Characteris m4ny of the outdoor perfomances in Summer 2023. Fused and ACE Youth p¢rforned in the Area irt front of Grosvenor Road Stydios. in addition to leading the Carniv81 Procession domn Gro$venor Road. Therc were 73 perfomiers in total, Jnd th¢y were supported by 7 professional dancers, with 19 par¢ntslcar¢r5 acting ffts ¢hiperon¢5. Springboard Project- September 2023 - March 2024 Funded by Dancv Hub Birn)ingham, Springboard support¢d 4 early year career art15ts, Jes5i¢a Butler, Yvette Owen-salmon, Bethan Siddaway ond N4than Sinclair-marsh, in th¢ Creation of work over 4 &month period. Thc prnject aimed to support artists lo make a sustaiThed contribution tts contemporary dan¢¢ with its root5 in the African diaspora as a result of a progtwnme of action learning, rn¢ntoring and workshtsps from September 2023 - Mar¢h 2024. Each artist developed a unique piece of work sUPPOrted by experts within outside of ACE, and showca$¢d their work whilst in progress at thc mid-way point, and again at the end. The project aimed to incr¢a50 the artists, confsdence and to allow them to gain skills for ¢reatln8, pmdu¢ing, promoting their work. 'A$ a frcElance artist this pro8r4mme hAS taught me fvndamenlal skills like how to budget for a proj¢¢t as well os where to 8¢t fidIng for project5. Through thking part in theye sessions, I've been able to network with practitioners and build my connections in the West Midlands, Jossiea Butler 'Meniorin8 was a major factor for mc in creating Tny film. AJ my dance menfor w8$ extremely help1 in brin8jn8 the ¢horeogrdphy togtther. She ¢ame to every rehearsal and helped th¢ dan¢eis in undtr5tandin8 both the choreography and the mood we were tying to crejte. She introduced layering to me, which rneant I taught the structur¢ first and built on top of that. Luther IBottrellil. my film m¢ntor, was Y4 rnas5ive help, as fjlm is Teljtively new to me. He wa5 v¢ry helpful in fi8uring out the technical side of the film.. Yvette Ow¢n-Salmo 'This was # eat experience and I leamt how to storyboard rny composition, ¢boreograph a work using a spatial n¢¢pt to commissiorted musi¢ and work with prof¢55ionaJ dancers in ACE spa¢e' Bethan Stddaway Page 4
African Cultural Exchange Llmiled knoivD as The LinkDance Space Trustees, Report 'l irltcnd to leverdge the skills and ¢onfid¢nce gained from this project to expand my network within the West Midlands. I will ¢DDtinue t¢a¢hin& rur)ning my d¢¢ ¢ompanyi trnining. in knjmp and s¢eking fvndin8 opportunitie5 to further d¢v¢lop my theatre work. I feel ittspired gratefjjl to have had this opportunity., N&ihan SinGlair-Nlarsh Les Amazon¢5 d'Afrique Music Video shoot- janu 2024 In January 2024 the incr¢dible music video for the Le5 Amazon¢s d'Afriqu¢ singl¢, Flaw5, w&5 fjlmed in the ACE studio, featuring many of our Fused and ACE Youth dan¢¢rs and ¢trdire¢t¢d and ¢o-choreograph¢d by our fomier iThterim R¢hearsal Director, Kenn¢dy Muntanga and company dancer. Martina Mancini. Thc video was shown on Sunday Bnch on Channel 4 in February 2024 and the single WAS championed by C¢rys Matthews on BBC 6 Music amon8 many others. Les Am47A)n¢s d'Afrique are a pan-Afri¢an all-frmale supergroup fomi¢d in Mali. "It wa5 an amazing experience for our young d8cerS to work with such thoughtfi21 and inspirational artists from across Afric?. l¢'s exactly the kind of opportunity that we love to be abl¢ lo offer to them, and we're so proud of what they've been &ble to athiev¢.' Gail Parn)el Spring Sharin8- Mh 2024 In March we lield our ennual sharin8 of the work th each of our in-house closses had been developin8 durin8 the Spring terni, for an oudiellce of fri¢nds and family. As usual our kids shone, and we were also Able to showcase our profes5ional'company who perfomied È piec by visitinB chortO8r4pher Kennedy MuntanBa d¢v¢loped during 8 4-week period of Re8e8r¢h and D¢v¢lopment h¢r¢ at ACE. How to build a uthiv¢rs¢- March 2024 In MCh ACE were proud to t$1 th¢ Binninsham perfonnances of the lotest production from ¢horeosr2pher and ACE Youth alumnus. Jamaal Burkn)ar. Fonned of tsvo pths. How To Build A UniYer5e showcased Jamllal's creative pro¢¢ss'. VisutY striking, mesmerising dance to intoxic&tin8 rnU8ic, and improvisation with guest partL¢tpgnts. Throu8h 8 ¢ollision of music and moY¢ment, oudiences were invited to uncover th¢ ¢lem¢ntal joy At the h¢4rt of Extended Play's prnctiec. The guesi pani¢iponts for these tsvo shows r¢ students of the ACE clas$ programme, frorn P4r¢nts & Tot5 to ACE Youth. Ptsblle ben¢Jli The iNstee5 ¢on3ider th¢ support to disadvantaged and poorer members of th¢ ¢ommunity in BimiinBham, and disBeminatitsn of lessonB leamed to the r¢st of the county, to be of publi¢ benefit. The Trustee5 confimi that they have complied with th¢ requirement$ of section 17 of the Charities Act 2011 to hHvc due regard the publi¢ benefit 8uidart published by the Chgrity Commission for England &tsd Wales. Th¢ tnjstees confirni that they have complied with ¢h¢ requLTrmcnts of section 17 of the Charities Act 2011 to have due r¢8ard to the publi¢ b¢n¢fit guidCe published by the Charity Commission for England and Wales. Page 5
African Cultural Exchange Limited knoTYn #s The Link Dance Space Trustee5' Report Srriqlinveslmemlpolldes ARTisfIc COLLABORATION. MENTORSHtP AND SUPPORT Th¢ BmbrACin8 CUlre5 project afforded mAt)y oppoNitIeS for the young people involved. Perfonning in unfamiliar venues. and experiencin8 audience interA¢tion for Ihe flrst time offered thc youn8 danccrs new $ki115 and ¢xp¢ri¢nc¢s. Young peopl¢ had the opportunity io lead wfft-ups and lo practice the routines with childr¢n and adults. Chaperones 8180 d¢v¢lopd their skills during this proj¢rt. They wer¢ trdin¢d and d¢bri¢f¢d gfter ¢ach perf0ml9ce and managed groups of children in ch4]len8ing Conditions owing to the multiple coslume Changes and the hot w¢ath¢r. Two dancc art15ts emphssised th¢ care¢r development opportunity ihat ihe project providcd. Funding from the Esmée Fairbairn Foundalion ¢nabl¢d ACE dancc and music to train the danGcfs to teach primary Jchool children. Thc5c w¢r¢ danc¢rs who had worked with ACE d2nce artd music when they wer¢ ¢hildr¢n, and one now had the opportunity ¢0 go back to th¢ primary school Jhe had attended and tutor tli¢ childT¢n there. All th¢ Tespondents involved with ACE d4n¢e And musi¢ Bave txampl¢s 1s.to how th¢ project h4d proyided opponitieS for culNral leader511ip development. The Rehearsal Director at ACE danc¢ and musi¢ took on new responsibilities during this project. hostin8 parti¢ipaiory workshops artd en8a8Ln8 young people, whil¢ another youn8 dancer led warni-ups for the whole company and took on leadership roles for reher541s. Th¢ youn8 dat)cers gr¢w in confid¢o¢e and more established dancers men(ored the junior5. One respondent received a work promotion prior to the project, a role which rne with new responsibilitE¢5. and the projert provided iheir first exp¢rience of people management. Flnanclal revlew Pollcy ruervu Addition*] funding streams continue to be sou8ht to help continue the work that ACB danee and music sets out to dts. The reserves which we have set a5id¢ provide flnancial Stability and the Mea for the developrnent purpose of our principal activity. We iiitend Lo maintsin our reserves at a level which is ot leisl equivalent to Jix month5 of operffting expenditure for the eomp4ny. Th¢ Bogrd will review quaterly the wnounl of reserves that ar¢ r¢quir¢d to ensiire tha¢ they are adequate to fulftll our continuitt8 obligations. Structurey governance Ind mwn¥g¢mellt N•tMre of8ovtrning docmmehi Each year the Arti$ti¢ Director Gail Pannel MBE, and Music Dir¢¢tor & CEO lan Pamjel, create new artiSti¢ works, which ar¢ perfomied by ¢h¢ company's danG¢rs nationally and internation]y. Thc tnt5te¢s ore respoDsibl¢ for the overall man8g¢m¢nt of the company and meet 4 time5 a ye8r. Going concern The ttee& hav¢ Considered budgets And cAsh flow forecasts through to October 2025, and the Icv¢l of post year-end support received from Arts Coun¢il EDgland. On thi5 basis, the tNst¢es considcr that thcrc are no material uncertainties about the charity's ability to contit)ue 4s a going coneern nor hny significant areas of unccrtainty that affcct the ¢anying value of ps5¢ts h¢ld by the Glwity. Pa8¢ 6
AfricaD Cultural Exchange Limited known The Link Dance Space Trv$tees' Report The Annual report approved by the trNstees of th¢ ¢haTity on..... and si8ned on its behalf by.. PRUI U Trustee Page 7
African Cultural Excbange Limlted known 45 The Link Dance Space Statement of Trustees, Responsibilities Th¢ trustees (who are also the directors of African CulttJTal Exchange Limited for the purposes of company law) are responsible for preparitlg the trustees, report and the financial statements in a¢¢ord8nce with applicable law and Unitcd Kitjgdom Accounting Stsndards (United Kingdom Generally AGcepted Aceoutlting Practiee), including FRS 102 'The Financial ReportiTLg Standard applicable in the UK and Republic of Ir¢land" Company law requires the trle¢S to prepare financial statements for each fin8ncial year. Under company law th¢ Iru5t¢es must not approve the financial stsi¢m¢nts uThless they are satisfi¢d that they giv¢ a true and fair view of the statc of affairs of th¢ ¢haritable comparty and of th¢ incoming resouT¢¢8 And application of resources. including its incom¢ and eXpendIre, of the ¢haritablB company foT that period. In preparing these financial statements, the tNstses ar¢ required to.. select suitable accouThtin8 polici¢s and apply them c¢msistently: observe the methods and principles in the Charities SORP: m8k¢ judgements and estimates that are renable athd prudent,. stale whether applible accounting standaTd8, ¢ornprising FRS 102 have been followed, subject to any mrial departur¢s diselosed explained in the financial slatement3,' Bnd prepar¢ the financial 5taiement3 on the goin8 eoncern basis unl¢s$ it is inappropriate to presume that the charitable company will continue in busines3. The trustees 8re responsible for keeping proper accounting records that Can diselose with reason&ble accuracy ai any time the finAn¢ial position of the charitable comp8ny and enable them to ¢n5ure that the fiDaneil statements comply with ihe Companies Act 2006. They are also responsible for saf¢guarding the assets of the charitable comphny and hence for takin8 rea50nabl4 steps for the prevention And detection of fraud and other irregularities. Th¢ trustces are responsible for the maintenance Inte2ty of the ¢orpora1¢ and financial infonnation included on the Charitable company's web51t¢. LegL51ation governin8 the preparation and dissemina¢ion of financial stAtem¢nts m&y differ from legislation in other jurisdictions. Approved by the tru$tees of the charity on....... ... . and sI¢d on its behalf by.. Paul Ud Trustee Pog¢ 8
Afri¢an Cultural Ex¢hange Limite(I known as The Link Dance Space Independent Ex84mlner'8 Report to the trustees ofAfri¢an Cultural Exchange Limiled ('the Comp#ny') I report ty th¢ charity tsvste¢s on my examination of the accounts of th¢ Company for the yeor ¢nd¢d 31 March 2024. Responslblllties and bAiii of report A$ the charity'$ trnst¢¢s of th¢ Company (and also its directors for the purposes of comp&ny law) you are responsible for th¢ preparation of the accounts in accordance with the requirements of the Companies Act 2006 {'the 2006 A¢t'). Having $8tisfied my5clf that the accounts of the Company Are not required to be Audited under Part 16 of the 2006 Act and are e128ible for tndep¢ndent examithation, I report in respect of my examination of your thaTity's accounts as ¢grri¢d out undcr section 145 of the Charities Act 2011 {'the 2011 Act,). In carying out my examination I have followed the Directions 8Éven by th¢ Charity Commissith under section 145(5Kb) of th¢ 2011 Act. Ittdeptlldenl ¢XAmlner's itatem¢Dt Since the CompAny's 8ross income exceeded £250,000 your ¢xJmineT must be a member of P4 body listed in sKlion 145 of the 2011 A¢1. l Confirni that i Am qualified to und¢rtak¢ the examination b¢caus¢ l ttm a memb¢r of Bissell & Brown Birn)inghom Ltd, which is one of the listed bodieg. I hav¢ completed my exRmination. l confirni tha¢ no mait¢rJ hAve come to my attention in conDeCtion with th¢ examination giving me cause to believe: l. ounting records were not kept in respe¢t of African Cultur81 Exchange Limited rquirtd by section 386 of the 2006 Act.. or 2. the ACCOUrtts do not a¢cord with those reeords. or 3. the ¥ccount8 do not mPlY with th¢ accounting requirements of section 396 of the 2006 Att other thon Jny requirement that the accounts 8ive 4 '1Ne and fair view, which rs not & Matter con3id¢r¢d as part of an ind¢pendent examination,. or 4. th¢ accounts hav¢ not been prepared in &c¢ordan¢e with the methods and princip1¢5 of the Stat¢m¢nt of Rewmmended Pracii¢¢ for aecounting and reporting by charit2es lapp Icable to charities pr¢paring thrir o¢¢ounts in ac¢ordance with the Finan¢i41 Reporting Siandard 8pplicable in the UK and Republic of Ireland IFRS 102)]. J have no concerns and have cotn¢ across no other matter5 in cotu]ection with the ¢xamination to which attention Shou d be drawn in thi5 report in order to ¢Trable a proper understanding of the accounts lo be reached. B J Maiihews FCA Chartered Accountants Bissell & Browm Bimiinsham Ltd 12 Porttnim Road Kings Heath Birnin8ham B130SL P¢9
Afrlean Cultural ExehAnge Limited known as The Link Dance Spgce Statement of Financial AetlVRties for the Year EDded 31 March 2024 ncluding Income Expenditure Account and Statement of Total Recogn15ed Galns and Losses) Totsl 2024 Totsl 2023 Unrejtrieted Restrlcted Nots Income And Endowments frotn: VolunlAry ineom¢ Charitsble aetLVitL¢S Investment inwm¢ Other inwme 655,616 73.524 9.447 27,623 655,616 193,9Ql 9,447 27.623 409,396 355,371 3,013 29,535 120,377 Tot Income 766,210 120,377 886,587 797315 EXndIture on: RAising fimd5 Charitable activitl¢s {L,660) (667,659) (2.574) 157,576 (4.234) 825,235) (8.652) (799.594 Total ExpenditUTe Net in¢omal(¢xpertditur¢) 669,319 160,150 829,469 808,246 96.891 39.773 57,118 10,931 Net movemcnt in fijnds 96,891 (39.773) 57.118 (10,93 1) Reconclllatlort of fuDdi Total funds brou8ht forwttrd Totai fvndj ¢arrted forrd 590,736 49,057 639,793 696.911 650,724 639 793 15 687,627 9,284 All of the ch8rity'$ 8¢tivities derive from ¢ontinuin8 operations durin8 th¢ above two periods. The notes on pag¢5 13 to 21 fomj an inte8ral part of these financial 5taternents. Page 10
African Cultsral Exchange Limited known as Tbe Link Dance Space (Registration number: 3471844) Balance Sheet as at 31 March 2024 2024 2023 Note Flxed w¢ts T&rt8ible Sets 10 683,411 4,554 CurrEnt ##Jets Stocks Debtors CAsh at bank aJ]d in hand 922 41.417 362 390 717 28.917 638 546 12 13 404,729 668.180 Crediton.. AM0ts falling due withln one yeAr Nd current Js•ts 14 51,229 32,941 353 500 635.239 Totsl 8J5ets leBs Current IlbUllies 1,036,911 639,793 Cr¢dlton: Amounts falllDg due after mor• ¢hATh ont yr Net Asjets 340.000 696911 639.793 Ftsndl of the ehirlty: Re8trlcted Ineom¢ funth Restri¢ted funds 15 9,285 49,057 Unre¥trl£¢ed Income funds Utlrestricled fvnds 687 626 590 736 Total fund* 15 696911 639,793 For the financial Ye ending 31 March 2024 the charity Nv8s ontitled to exemption from audit uttder section 477 o£th¢ Companies Act 2006 relatin8 to small companies. Direetors, r¢sponsibiliti¢S.' The member5 have noi required ¢he charity to obtain an 4udit of its accounts for the year in question in accordance with srctiott 476. 3nd The directors 8¢knowled8e their r¢sponsibilitie5 for complying with the requirern¢Thts of the Art with respe¢t to accounting re¢ords and th¢ preparation of E¢¢ounts. These financial statements havr bcen prepared in accordan¢¢ with the special provisions relating to companies subj¢¢¢ to the small companie5 regime within Part 15 orth¢ Companies Act 2006, The flnaneiai statements on pa£es 10 to 21 were approved by th¢ trustees. and 4uth0ri5¢d for issue on l.$l.Il.i.+. artd 5Lgned on their behalf by.. Th¢ notes on pages 13 to 21 form an inte8ral part of th¢s¢ finangi41 statem¢nts. P8g¢ 11
African Culturnl Exchange Limited known as The Link Dance Space (Registratlon number: 3471844) Balance Sheet as at 31 March 2024 P&ul Udenze Trugt¢¢ The notes on pages 13 to 21 forni an intr1 part of these financial 5tatemeDts. Pagt 12
Africall Cultural Ex¢hange Limited known as The Link Dance Space (Registration number: 3471844) Balance Sheet as at 31 Marcb 2024 Paul Ud¢nze Trustee The notes on py 13 to 21 form an iDteyal part of these finan¢ia] stat¢mellts. Page 12
Afri¢an Cultural £x¢bange Limited known as Tbe Link Dance Space Notes to the Finrdn¢ial Ststements for the Year Ended 31 March 2024 I Chirity 5tatUS Th¢ charity 15 limited by guarante¢. incorporated in England & Woles, and conscquerttly does rtot have share pital. EA¢h of the trustee5 is liabl¢ to wntribute an omouni not ex¢¢eding £1 towards the assets of the ¢harity in th¢ ¢vent of liquidation. The address of its re8iSt¢r¢d offi¢e is.. The Link Dance Space 54-57 Flood8ate St Di8bdh Binnin8ham BS SSL 2 AttOUDtln8 pollcle Sumrn4ry of i18nlflcant A¢COUnttn¥ pollclu And key aceountln% estimate4 The prirtcipal accounting policies applied in the preparhtton of these financial statements are t out below. These policies have been consistently applied to 811 th¢ y¢arJ presented, unlcs5 otherwL5C Stat¢d. St&tem¢n¢ of compllsnce Th¢ finan¢iAI statemenis have been prepsr¢d in aOrdAnCe with Accounting and R¢portins by ChArities.' Statem¢ni of Recomm¢nded Practice (applicable to charities preparin8 their a¢¢ounts in a¢cordan¢¢ with tho Financiol Rcporting Standard applicable in th¢ UK Rlld Republi¢ of Ircland (FRS 102)) (issued in October 20191 (Charities SORP (FRS 102)), the Finartcial Reporting Standard applic&ble in the UK And Republic of Ireland (FRS 102) and the Companies Act 2006. BAJi of pr¢&MrAtio Afri¢an Culb2rdl Exchange Limited meets the definition of a public benefit entity under FRS 102. A5$ets and liabilitie5 are initially re¢o8nised At historical cost or tr8JL5a¢tion value unless oiherwi$e stst¢d in the relevant countin8 poli¢y notes. Golng concern The trustees consider thr4t there are no Materi u#¢erta2rtties about th? clwiry's ability to continue &8 a going eoncem nor ony significant areas of urt¢ert4inty that affect th¢ rarrying value of assets held by the ¢harity- The truste¢5 hay¢ considered budgets and ¢J3h flow forK8tsts through to O¢¢ober 2025. and the level of post year-¢nd support received from Arts Council England. On this b15. the thJstc¢s con5idcr that there ar¢ no material unrertaintie5 about the Charity's ability to contsrtue #s a going wncem nor any 318nifLcant areas of un¢¢rtainty that affect thc ¢ArryEng valu¢ of ass¢ts held by the chwity. Exemption from preporing 4 cash flow Jt&tement The Gharity opted to elY adopt Bulletin I published on 2 Febwary 2016 ¥md h8ve ther¢for¢ not in¢lud¢d a flow statement in these fanCial statements. Pag¢ 13
African CUlra1 Exchange Limited known as The Link Dance Space Notes ¢0 the Finan¢ial Statements for the Year Ended 31 March 2024 Income and tndowments All incom¢ is r¢¢ognised on¢e th¢ charity has ¢ntitl¢mrnt to the incomr, it is probablc that the income will be T¢1Ve4 and the Amount of the income receivable can be rneured reliably. Don4¢ion3 are re¢ogni5ed when th¢ charity has b¢ert tlolified in writing of both thc amount and settlement date. ID the event that a donation is subject to Conditions that require a level of perfornLanc¢ by th¢ ¢hgrity before th¢ harity is eThtitled to the Iljnds, the income is deferred and not recognised until either those conditions are fully m¢t. or the fulfllment of thos¢ conditions is wholly within th¢ ntrol of the charity and it is probable that the$¢ condirion$ will b¢ fulfilled in the reporting period. Grnmts re¢¢lvable Grllnts ar¢ regniSed when the chaTity has an entitlement to the funds 8nd any conditions linked the grnnts have been met. Where perforniance ¢ondirions are attachod to th¢ grant and are y¢t to be met, the InMe is r¢co8ni5ed as a liobility 2nd ir2clud¢d on the balance sheet deferred income to be released. Expendlturn All expenditure is recognised once there 18 a legal or constructive obligution to that expenditure, it is probable settlcmenl is required artd the amount Can be measured reliably. All costs are allocated to the applicable expcnditur¢ heading that wr¢gat¢ similAr c05t5 to that category. Where costs ¢arLnot be directly Attribut¢d to particular htadin8S they have been allocated on a basis ¢onsi5tent with the use of resources, with ¢eiiiral staff sts allocated on the basis of time spent, and d¢prc¢iaiion chargc5 allocated on the portion of th¢ asset's Use. Other support costs #re alloted based on the spreod of siaff costs. RatslK¥fun&T These are cosi$ incurred in attractin8 volunlary in¢ome. the manA8em¢nl of investments and those incutred in trAdin8 acliyiti¢s that rnise funds. Charlloble &cdvi¢les Charitable expendittJr¢ Comprises those e05ts incurred by the charity in the delivery of its activitie$ And $ervi¢¢5 for ils bcneficiaries. It includes both costs that can be allocated directly to such activitie8 and those costs of an indirect natt¢ n¢rg55ary to gUPPOrt them. Government grints Government grAnts are r2cognis¢d bosed on the a¢cTU31 model and are measured ot the fair value of the asset re¢¢ived or rcceivable. Grants arc classified a5 r¢loting either to rev¢nu¢ or to assets. Grants relatin8 to revenue are recogni5¢d in income over the period ir] which the re18ted costs are reeogntsed. Grants relating to assets are reeo8nised over the expected use1 life of the Rsset. Whcrc part of a grant relatin8 to an asset is deferred, it is re¢ogni5ed a5 deferred income. Taxgtlon The charity is considcrcd to Pass the tests set out in P8Tagraph I Schedule 6 of the Finance Acr 2010 and therefore it me¢ts the definition of a charitable company for UK corporation tax purposes. A¢wrdingly, the ch&rity 15 POt¢ntially exempt from tsxation in resp¢¢t of in¢omc or capital gains re¢¢iv¢d within cat¢gorie5 eov¢red by Chapter 3 Part I l of the Corpordtion Tax Aci 2010 or Section 256 of the Twdiion of Chargeable Gains Act 1992, to th¢ exteni that such income or gat are applted ¢xclu8iv¢ly to ¢haritAble purposes. Pag¢ 14
African Culturrdl Exchange Limited known a8 The Link Dance SpAce Notes to the Finanelxl Statements for the Year Ended 31 March 2024 Depreelatlon ind amorti58tlon D¢preciation 15 provlded on tangibl¢ fed &8sets so as to write oty thc cost or valuation. less w ¢S¢im)ted residual valu¢. over their ¢xpeGt¢d useful economic life follows.. Fund structur• Unrestrithed income funds Are 8en¢rat fjJnd5 that Bre &vailabl¢ for u3¢ 41 the trustecs discretion in furth¢rnic¢ of the obj¢¢tiv¢s of th¢ charlty. Restricted incom¢ funds 8r¢ those donated for use In a p4rticulgr &r¢& or for specifi¢ purpose4 iho of which Is restrlcted to that Area or purpose. 3 Ineomé from donAtlons ind legades Unrestrleled fund4 Ceneral TotAI 2024 Tot#1 2023 Dortations and legacies. Donations from itLdlvidl9 Grants, inclthdin8 Capltal grants. Arts Coun¢il ¢ore 8rJnt 297 297 4.077 655.319 655,616 655 319 405,319 655.616 409,396 4 O¢h•r Income Unrestrleted TotAI 2024 Totsl 2023 Gtnerll Rental incomo 27.623 29,535 Page 15
African Cultural Xx¢hxnge Limited knoTvn as The Link Dan¢e Sp8ce Notes to the Financial Statements for the Year Ended 31 March 2024 5 Iheome frotll tharltsble actlvltlo8 Unr¢Jtri¢ted funds General Restrieted funds TotAI 2024 Total 2023 Brid8in8 Barriers DoLirstep Carnival Springboard Bimlingham We¢kender Festival 2022 WiAdnJsh Arborelum Esmee F8irburn- Education Offir Strike a Light New Build Limo8es Charitable Trust The National Found The Rowlands Trujt Earned ittcome fmm performartrcs, proje¢tJ Education artd summer school NBA incom¢ Special events meh8dising 15.715 15.400 44,605 19,000 15.200 7.020 15,715 15.400 44,605 19,000 15200 7,020 6.000 40,000 4,000 15,000 2.500 60,000 3.000 3,437 3.437 30,905 37,044 30,905 37,044 33,888 63,413 101,742 650 25.178 4,210 4,210 7J.524 120,377 193,901 355,371 6 Expeftdlture on ehxrit•ble actlvities Unres¢rlcled runds Getseral Restrtct¢d funds TotAI 2024 TotAI 2023 Production ¢osts Merchandising co8ts Tour travel & subsisten¢¢ Corc sts allocation Mat*eting & publicity Artist & dmce fees Other freelance fees Depreciation CosttJm¢s, set etc Wages & adrnrn ftts 59,746 2,209 25.323 9.588 3,589 114.465 20,971 2,142 13,591 32.985 Page 16 440 60.186 2,209 27,746 17.064 4.239 191,482 24,671 2.142 14.218 50.068 5.502 1.586 2.423 7.476 650 77,017 3,700 9,958 288,298 77,731 3J45 28.017 59.460 627 17.083
African Cultural Exchange Llmlted knoivn as The Link Dance Space Notes to the Financial StAtements for the Year Ended 31 Mareh 2024 Unrejtrlcted nds G¢D¢r•l Restrlcted fund9 Tot81 21124 Total 2023 Dir¢¢tors' solaries Employ¢TS Projects M8nAger B¢nefits in kind Pension costg Educ offi¢¢r stsff Costg Lncl tr*inin8 Supporting core capa¢ity Rent & rates Capitsl feibIlity costs Insurance Light & ht Cleaning Repairs & renew8 Trust& Stationery. prittt & offi Xes¢9h Tel¢phon¢ Legal And professional foe Coinputer ¢0sts Tr&Y¢l & motor Book-keepingl ac¢ountsncy Independent examination Subscription5 Bartk ¢h8rges Loan interest Sundry Transfer 152,394 14.676 152,394 14,676 6,421 5,722 13,153 9,800 993 123.789 586 29,276 5.580 5.505 6.421 5,722 13,153 9.800 993 95 3,580 34,708 14,759 4.203 11.581 10.148 4.340 35,464 4,111 17.619 17.118 10,411 9,709 1,288 4,165 3,696 1,867 17,670 17,463 10.082 23,691 2.841 1,072 484 14.422 9,168 6228 35,464 4,111 18,336 17.118 10,411 9.709 1.288 4.165 3,696 1.867 3S.036 17,463 10.082 23,691 2,841 1,072 514 14,422 9,168 717 3,7 18 686 3.473 1.209 15,787 26,473 15,718 2,000 1,626 1.592 S75 17?66 30 6,228 4.688 667 660 149,978 817,638 799,594 P88e 17
African Cultural Exchange Limited known a$ Tho LRnk Dance Space Notes to the Finanelal Statements for the Year Ended 31 March 2024 7 Trnstees r•rnuner4tlon expen No trjstees. nor any persons connect¢d with them, hAv¢ re¢¢iv¢d any remuneration from the chority during the No trust¢¢s hav• received 4ny r¢imbursed ¢xpenS from th¢ charity during th¢ y¢ar. 8 StAff costs The monthly average number of p¢rsorys (in¢luding settlor m&thag¢ment I leadehIP team) employed by the charity during the year exprc5s¢d 8$ fvll tim¢ equivalents was As follows.. 2024 2023 Salaried staff Unpaid TNsttts 14 9 T8xAtIoD The charity is a re8jSt¢red charity and is th¢t¢foTe ¢xempt from tamtion. IO Tgn¥lble flxed asjets LAlld attd buildlDV FuTnltur• alld equlpment Motor Yebiclej Tot81 Colt At l April 2023 Addition5 253.965 680.000 24,998 999 22,290 301,253 680,999 At 31 Mar¢h 2024 933.965 25,997 982,252 Deprecl8tlo At l April 2023 Char8c for the year At 31 March 2024 253,965 20,444 2,142 22,290 296,699 2,142 253 965 22 22 586 90 298 841 Net book v*lu¢ At 31 March 2024 680 000 3.411 683,411 At 31 March 2023 4,554 4,554 tncluded within the net book Value of latld and buildings above is £680,000 (2023 - £Nil) in resp¢¢l of a new property purch&sed in Milk St which 15 to be developed fillther aDd no d¢pr¢¢iation has yet b¢¢n ¢hArged.£Nil (2023- £Nil) Page 18
AfrlcaD Cllltural Exchange Limited I0}yn as The Link Dance Space Notes to the FinancAal Statements for the Year Ended 31 Mareh 2024 Impjirment Th¢ Company purchAs¢d a new sits in Milk SL Digbeth. on 29th Sept 2023 . Pending deYelopmenL no depreciatin y¢t b¢¢n ¢harg¢d. The previou5 land & buildings includ¢J Short le25¢hold property additsons f¢pTt5entinB •xpvnditur¢ to 3 1st mCh 2015 Ort Studio Buildings alterations 4t FloodBat¢ S¢, fiJnd¢d by Arts Council En8l*nd. The previous lease expiTvJ 3151 De¢emb¢r 2019 and a new one granted for 2 years fix and then 4 6 month br¢ak Glause for both p4rti¢s thereafter. That expenditure Iw now been fully written off by d¢preci&tion charges. li Stock 2024 2023 Finithed 8ood8 922 717 Page 19
AfricAn Culturnl Exehange Limited known as The Link D#tt¢e Space Notes to tbe FinAn¢lal Statements for the Year Ended 31 March 2024 12 Debt•rs 1024 2023 Trade debtors Prepayments Ae¢nJed incorn¢ Other debtors 28,644 8,722 471 3,580 41.417 15.598 12,117 1.202 28,917 13 Cash and cAJh equlvllethts 2024 2023 Cash ort hand CAsh It bank Short-tern) deposits 50 41,741 320,599 362.390 30 36,647 601.869 638,546 14 Cr•dltorJ: fAlllng due wlthln yur 2024 2023 Trade ¢r¢ditows Other tix4tion and %Klal se¢urity VAT Other Creditors AKn]als 23.126 21,918 13 4,652 880 15.511 51.229 Other bDrrowlnp Loan finB¢e with a carrying amount of £340.000 (2023 - WII) 15 denominAt¢d in £ with a nominal interest rate of 8¥. {2023- OY•). Th¢ final in5ts1ment is due Ott 30 Sept¢mb¢r 2026. Secured on Milk St property Pag¢ 20
African Culturnl Exchange Limited known as The Link Dance Space Notu to the FlnAnelAI St&tement8 for the Year Ended 31 March 2024 IS Funds BAIAnce at 31 MoTch 2024 BAlanc¢ •¢ I April 2023 IDcoming ruour¢ Rdourets ¢yp¢nd¢d Tr4nsfers Unrestrlcted lknnd$ General Accumulated Funds 440.736 766,210 (675,547) 6.227 537,626 Development Fund 150,000 150.000 Tot*1 unrestricted fundy 590,736 766,210 (675,547) 6,227 687,626 R¢5¢rlct¢d Esme¢ Fairburn education offi¢er Dcorst¢p be3tiv 23 Springboard Bla¢k County Proje¢t Esmee Fairburn Strike L Light Weekender w1ndnh N¢w Build Biidgins Barriers NBA 9,113 (9.800) (12,408) (2.438) {35.320> (16.8n) 687 (2,992) (12,762) 15,400 15.200 44.605 9.285 16,872 4.000 3,437 19,000 7,020 (1,937) (9,151) (7.900) (17,895) (37,584) 2.617 (5,500) (9,849} 880 2.895 2,923 619 15,000 18,946 1.998 15,715 Totil rtrIcted fund$ 49,057 120.377 (153,922 {6.2271 9,285 Total fndS 639,793 886,587 829,469 696,911 P4g¢ 21