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← African Cultural Exchange Limited

2025-03-31-accounts

Company registration number: 3471844 Charity registration number: 1137490

African Cultural Exchange Limited

known as

The Link Dance Space

(A company limited by guarantee)

Annual Report and Financial Statements for the Year Ended 31 March 2025

Bissell & Brown Birmingham Ltd Chartered Accountants

12 Portman Road Kings Heath Birmingham B13 0SL

African Cultural Exchange Limited

known as The Link Dance Space

Contents

Reference and Administrative Details 1
Trustees' Report 2 to 6
Statement of Trustees' Responsibilities 7
Independent Examiner's Report 8
Statement of Financial Activities 9
Balance Sheet 10
Notes to the Financial Statements 11 to 18

African Cultural Exchange Limited

known as The Link Dance Space

Reference and Administrative Details

Trustees Paul Udenze Nigel Bryce Gardner Vincent Ugboh Denise Burgundy Amika Barnett Charity Registration Number 1137490 Company Registration Number 3471844 The charity is incorporated in England & Wales. Registered Office The Link Dance Space 54-57 Floodgate St Digbeth Birmingham B5 5SL Independent Examiner Bissell & Brown Birmingham Ltd Chartered Accountants 12 Portman Road Kings Heath Birmingham B13 0SL

Page 1

African Cultural Exchange Limited

known as The Link Dance Space

Trustees' Report

The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements and auditors' report of the charitable company for the year ended 31 March 2025.

Trustees

Paul Udenze

Nigel Bryce Gardner

Vincent Ugboh

Denise Burgundy (appointed 7 November 2024)

Amika Barnett (appointed 7 November 2024)

Objectives and activities

Objects and aims

To advance education for the public benefit by the promotion of the arts, in particular but not exclusively the art of dance. The company was registered with Charity Commission on 13 August 2010.

Founded in 1997 by Gail Parmel MBE and Ian Parmel MBE, ACE dance and music is one of the most highly regarded, eclectic and resilient dance companies in the UK. Although firmly rooted in our home city of Birmingham, we have a global perspective and are universally recognised leaders in the field of Contemporary African and Caribbean Dance. Our signature style is rooted in traditional Afro-fusion forms – yet expressed through a purely contemporary lens. ACE create high quality innovative performance work, outreach and education programmes for adults and young people in a variety of formal and informal settings within Birmingham, the West Midland region, across the UK and increasingly in mainland Europe.

Objectives, strategies and activities

Throughout 2024/5 ACE dance and music have continued to make progress in achieving objectives withing their business plan. See key achievements here:

TRINITY LABAN HONORARY AWARD

On the 10th of December 2024 ACE’s Artistic Director Gail Parmel MBE received a 2024 Honorary Fellowship from Trinity Laban Conservatoire of Music and Dance.

Each year the prestigious London based institution recognises those who have rendered appreciable public service to the nation, the community, the music/dance industry, the education sector and the arts through its Fellowships.

Even after a quarter of a century at the forefront of contemporary dance in the UK, Gail is still overwhelmed to receive such recognition and says:

“I am thrilled and humbled to be invited to receive such a huge honour. The Trinity Laban Conservatoire of Music and Dance is a major force in dance education and creativity and for my work and by extension the work of everyone at ACE dance and music to be recognised in this way is a true privilege”.

EDUCATION TRAINING

During February 2025 ACE dance and music teaching staff participated in a series of education training led by Melanie Knott (Senior Lecturer at De Montfort University). The training covered a wide range of areas and will help the teachers to create, develop and implement new teaching strategies in line with ACE’s ethos. The teaching staff are better equipped and confident to deliver ACE’s education and outreach work.

Page 2

African Cultural Exchange Limited

known as The Link Dance Space

Trustees' Report

U.DANCE 2025

In March 2025 ACE Youth took part in U.Dance Regional Platform at Patrick Studio – Birmingham. U.Dance Regional Platforms, which take place across the UK, offer exciting performance and workshop opportunities to thousands of young dancers each year. Regional Platforms are hosted by a network of partner organisations and take place each spring, showcasing the talents of the region’s young dancers. Regional Platforms take place in the spring each year and form part of the selection process for the U.Dance National Festival. Groups and individual dancers of all dance styles can enter, aged 11-19, or up to 25 for disabled dancers.

ONE DANCE UK GLOBAL MAJORITY SEMINAR

As part of Black History Month, ACE’s Associate Director Iona Waite led a career’s talk as a part of One Dance UK’s Global Majority Seminar. Iona shared her journey as a dancer, education manager, rehearsal director and subsequently Associate Director and board member for Dance Consortium and Peoples Dancing to 100 children and young people from England and Scotland.

The seminar was designed to support more young people of the global majority to get into dance and ultimately to sustain a career in dance and discuss some of the barriers young people might face with pursuing a career in dance.

Public benefit

The trustees consider the support to disadvantaged and poorer members of the community in Birmingham, and dissemination of lessons learned to the rest of the country, to be of public benefit.

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Artistic collaboration, mentorship and support

ARTISTIC RESIDENCIES

ACE continue to promote the generosity and openness of collaboration and cultural exchange using shared choreographic methods and new technologies by working with a range of international Artists. Throughout Autumn 2024 and March 2025 ACE delivered a range of Artistic residencies for professional artists with a range of choreographers such as:

SWEET PATOOTEE ARTS – ‘TURNING POINT’

In Autumn 2024 ACE collaborated with Sweet Patootee Arts (London) on a heritage project entitled ‘TURNING POINT’.

TURNING POINT aims to be a catalyst for conversations around Equality, Diversity, and Inclusion: how these issues shaped our past and their relevance to people and communities today.

Sweet Patootee Arts ‘TURNING POINT’ video installation (Arts Council England funded), is the focal point of an ongoing UK touring programme of exhibitions and partner-led activities; to build public engagement with the neglected ‘Black Lives Matter movement’ of the 1920s’, and its impact.

TURNING POINT tells 4 comedy melodramas from the early 20th century British West Indies. The work is inspired by our oral history research with ordinary black men and women.

Page 3

African Cultural Exchange Limited

known as The Link Dance Space

Trustees' Report

Hidden stories of real people not cliché passive oppressed, their determination and triumph.

ACE created a full-length dance theatre piece inspired by the stories from ‘TURNING POINT’ which culminated in two sell out performances at ACE Space.

FIERCE FESTIVAL

In November 2024 ACE hosted ‘Fierce Festival’ at ACE studios.

For over 20 years, Fierce has been promoting Birmingham and the region across the world as a vibrant, diverse and tolerant place where the incredible happens in unusual places. The outlandish is embraced and celebrated and the new is welcomed with curiosity and kindness. Fierce Festival is a youthful and joy-filled festival of international theatre, performance and experiences which takes place in and around Birmingham (UK) every two years.

ACE received positive feedback; ‘I wanted to write to you and offer a formal and heartfelt thank you for your collaboration in making this year's Fierce Festival happen! We really can't do it without the support of our partners - so a huge THANK YOU from us’.

FREE STUDIO SPACE FOR INDEPENDENT ARTISTS

As ongoing commitment to supporting local artists; throughout July – October 2024 ACE offered 198 hours of free studio space for artists in the West Midlands. The offer was well received; a total of 67 artists used the studio during that period.

‘I just wanted to say thank you so much for hosting me in the studio space yesterday. It was really important and useful for me to have access to explore my work!'

‘I just wanted to say thank you again for the studio space over the past few weeks. I've really enjoyed every session, and it has been super useful for me.'

CREATE, PERFORM & SHINE

In partnership with 7 schools across Birmingham and the Black Country, ACE dance and music created a 10-week project where participants had the opportunity to work with professional dancers to create a fresh and dynamic piece for performance, developing their creative and performance skills. The project culminated in a performance at Edgbaston School for Girls.

NSCD – OPEN DAY

ACE Directors Gail & Ian Parmel took 13 young people from ACE in house education programme to the Northern School of Contemporary Dance for an open day. There was an unexpected picture of Gail in the presentation they watched, which was really inspiring for the young people as it gave them an extremely valuable opportunity to see their own dance classes as prestigious. The student president of NSCD was also an ACE alumni, and it was genuinely exciting for the young dancers to see a career in dance as a reality for them. Three of the attendees expressed that the trip made them determined to study at NSCD.

ACE has a developed a robust working relationship with many HE dance institutions and will continue to develop progression routes for disadvantaged young people to access high quality dance training.

THEATRE VISIT – BALLET BLACK

ACE had the opportunity to take 56 students and their families to watch Ballet Black at the REP theatre at a heavily discounted rate of £5.00 (usually £24.00). Under normal circumstances many ACE participants would not attend such a prestigious show due to financial restraints. ACE is aware of the importance of sustaining relationships with larger Arts organisations in the city and will continue to create opportunities to bring young people into the cultural centres of the city where some people really don’t believe that those spaces are for them.

Page 4

African Cultural Exchange Limited

known as The Link Dance Space

Trustees' Report

RAMBERT PROJECT

In October 2024, ACE hosted a 3-day professional intensive for Global Majority Students from Rambert Ballet & Contemporary Dance School. The 3-day intensive introduced participants to ACE’s techniques, styles and working methods.

The participants also experienced what it is like to be in ACE’s professional company and what choreographic devices ACE use to generate ‘new’ dance work.

Rambert Project feedback;

“Memorable – learning the rep and the Q&A. The Q&A was really insightful thank you. It was also great to have the pro-dancers in the studio.” Student.

“It was so interesting to hear from all the staff and dancers the advice and experience they had to offer and pass down to us.” Student

“It felt as though we were actually in a rep company.” Student

Financial review

Policy on reserves

Additional funding streams continue to be sought to help continue the work that ACE dance and music sets out to do.

The reserves which we have set aside provide financial stability and the means for the development purpose of our principal activity. We intend to maintain our reserves at a level which is at least equivalent to six months of operating expenditure for the company.

The Board will review quaterly the amount of reserves that are required to ensure that they are adequate to fulfill our continuing obligations.

Structure, governance and management

Nature of governing document

Each year the Artistic Director Gail Parmel MBE, and Music Director & CEO Ian Parmel, create new artistic works, which are performed by the company's dancers nationally and internationally.

The trustees are responsible for the overall management of the company and meet 4 times a year.

Disclosure of information to auditor

Each trustee has taken steps that they ought to have taken as a trustee in order to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. The trustees confirm that there is no relevant information that they know of and of which they know the auditor is unaware.

Going concern

The trustees have considered budgets and cash flow forecasts through to October 2025, and the level of post year-end support received from Arts Council England. On this basis, the trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.

Page 5

African Cultural Exchange Limited

known as The Link Dance Space

Trustees' Report

The annual report was approved by the trustees of the charity on .................... and signed on its behalf by:

......................................... Paul Udenze Trustee

Page 6

African Cultural Exchange Limited

known as The Link Dance Space

Statement of Trustees' Responsibilities

The trustees (who are also the directors of African Cultural Exchange Limited for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that can 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.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Approved by the trustees of the charity on .................... and signed on its behalf by:

......................................... Paul Udenze Trustee

Page 7

African Cultural Exchange Limited

known as The Link Dance Space

Independent Examiner's Report to the trustees of African Cultural Exchange Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025.

Responsibilities and basis of report

As the charity’s trustees of the Company (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 Charities 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

Since the Company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of Bissell & Brown Birmingham Ltd, which is one of the listed bodies.

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 African Cultural Exchange Limited 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 the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and 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.

...................................... B J Matthews FCA Chartered Accountants Bissell & Brown Birmingham Ltd 12 Portman Road Kings Heath Birmingham B13 0SL

Date:.............................

Page 8

African Cultural Exchange Limited

known as The Link Dance Space

Statement of Financial Activities for the Year Ended 31 March 2025 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Note
Income and Endowments from:
Voluntary income
3
Charitable activities
5
Investment income
Other income
4
Total Income
Expenditure on:
Raising funds
Charitable activities
6
Total Expenditure
Net income/(expenditure)
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
16		 Unrestricted
£
655,911
34,580
8,769
86,376
785,636
(3,777)
(594,131)
(597,908)
187,728
187,728
687,626
875,354		 Restricted
£
-
3,700
-
-
3,700
-
(12,985)
(12,985)
(9,285)
(9,285)
9,285
-		 Total
2025
£
655,911
38,280
8,769
86,376
789,336
(3,777)
(607,116)
(610,893)
178,443
178,443
696,911
875,354		 Total
2024
£
655,616
193,901
9,447
27,623
886,587
(4,234)
(825,235)
(829,469)
57,118
57,118
639,793
696,911

All of the charity's activities derive from continuing operations during the above two periods.

The notes on pages 11 to 18 form an integral part of these financial statements. Page 9

African Cultural Exchange Limited

known as The Link Dance Space

(Registration number: 3471844) Balance Sheet as at 31 March 2025

Note
Fixed assets
Tangible assets
10
Current assets
Stocks
11
Debtors
12
Cash at bank and in hand
13
Creditors: Amounts falling due within one year
14
Net current assets
Total assets less current liabilities
Creditors: Amounts falling due after more than one year
15
Net assets
Funds of the charity:
Restricted income funds
Restricted funds
16
Unrestricted income funds
Unrestricted funds
Total funds
16		 2025
£
683,727
723
110,152
186,604
297,479
(105,852)
191,627
875,354
-
875,354
-
875,354
875,354		 2024
£
683,411
922
41,417
362,390
404,729
(51,229)
353,500
1,036,911
(340,000)
696,911
9,285
687,626
696,911

For the financial year ending 31 March 2025 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

The financial statements on pages 9 to 18 were approved by the trustees, and authorised for issue on .................... and signed on their behalf by:

......................................... Paul Udenze Trustee

The notes on pages 11 to 18 form an integral part of these financial statements. Page 10

African Cultural Exchange Limited

known as The Link Dance Space

Notes to the Financial Statements for the Year Ended 31 March 2025

1 Charity status

The charity is limited by guarantee, incorporated in England & Wales, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.

The address of its registered office is: The Link Dance Space 54-57 Floodgate St Digbeth Birmingham B5 5SL Authorised for issue date

2 Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Basis of preparation

African Cultural Exchange Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.

The trustees have considered budgets and cash flow forecasts through to October 2025, and the level of post year-end support received from Arts Council England. On this basis, the trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.

Exemption from preparing a cash flow statement

The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.

Income and endowments

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.

Page 11

African Cultural Exchange Limited

known as The Link Dance Space

Notes to the Financial Statements for the Year Ended 31 March 2025

Donations and legacies

Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.

Grants receivable

Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.

Deferred income

Deferred income represents amounts received for future periods and is released to incoming resources in the period for which, it has been received. Such income is only deferred when:

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

Raising funds

These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Page 12

African Cultural Exchange Limited

known as The Link Dance Space

Notes to the Financial Statements for the Year Ended 31 March 2025

Depreciation and amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.

Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

3 Income from donations and legacies

Donations and legacies;
Donations from individuals
Grants, including capital grants;
Arts Council core grant
4
Other income
Rental income
Theatre tax credit		 Unrestricted
funds
General
£
592
655,319
655,911
Unrestricted
General
£
32,836
53,540
86,376		 Total
2025
£
592
655,319
655,911
Total
2025
£
32,836
53,540
86,376		 Total
2024
£
297
655,319
655,616
Total
2024
£
27,623
-
27,623

Page 13

African Cultural Exchange Limited

known as The Link Dance Space

Notes to the Financial Statements for the Year Ended 31 March 2025

5 Income from charitable activities

Bridging Barriers
Doorstep Carnival
Springboard
Birmingham Weekender
Festival 2022
Windrush Arboretum
Strike a Light
Grantham Yorke
Grimmitt Trust
Sweet Patootee
Earned income from performances, projects
Education and summer school
Special events
Merchandising		 Unrestricted
funds
General
£
-
-
-
-
-
-
-
-
-
-
1,706
31,698
-
1,176
34,580		 Restricted
funds
£
-
-
-
-
-
-
-
1,200
1,000
1,500
-
-
-
-
3,700		 Total
2025
£
-
-
-
-
-
-
-
1,200
1,000
1,500
1,706
31,698
-
1,176
38,280		 Total
2024
£
15,715
15,400
44,605
19,000
15,200
7,020
3,437
-
-
-
30,905
37,044
4,210
1,365
193,901

The Arts council granted £67,552 in the year for the capital expenditure on the building. This has been included in the deferred income and will be released to the profit and loss in line with the depreciation charge on the asset.

6 Expenditure on charitable activities

Unrestricted
funds Restricted Total Total
General funds 2025 2024
£ £ £ £
Production costs 3,582 - 3,582 60,186
Merchandising costs 1,565 - 1,565 2,209
Tour travel & subsistence 4,246 - 4,246 35,343
Core costs allocation - - - 17,064
Marketing & publicity 4,556 - 4,556 4,239
Artist & dance fees 95,394 3,700 99,094 191,482
Other freelance fees 89,723 9,285 99,008 24,671
Depreciation & dispoal adjustments 2,416 - 2,416 2,142
Costumes, set etc 607 - 607 14,218
Wages & admin fees 41,821 - 41,821 50,068
Directors' salaries 130,000 - 130,000 152,394
Employers NI 19,101 - 19,101 14,676
Projects Manager - - - 6,421
Benefits in kind 5,416 - 5,416 5,722
Page 14

African Cultural Exchange Limited

known as The Link Dance Space

Notes to the Financial Statements for the Year Ended 31 March 2025

Pension costs
Educ officer
Staff costs incl training
Rent & rates
Capital costs
Insurance
Light & heat
Cleaning
Repairs & renewals
Trustees
Stationery, print & office
Research
Telephone
Legal and professional fees
Computer costs
Travel & motor
Book-keeping/ accountancy
Independent examination
Subscriptions
Bank charges
Loan interest
Sundry
Loss on disposal of assets		 Unrestricted
funds
General
£
14,682
7,908
1,300
41,379
-
12,262
9,763
9,699
6,789
633
4,053
-
1,766
7,499
7,874
6,480
23,000
3,000
1,443
187
26,809
8,927
251
594,131		 Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
12,985		 Total
2025
£
14,682
7,908
1,300
41,379
-
12,262
9,763
9,699
6,789
633
4,053
-
1,766
7,499
7,874
6,480
23,000
3,000
1,443
187
26,809
8,927
251
607,116		 Total
2024
£
13,153
9,800
993
35,464
4,111
18,336
17,118
10,411
9,709
1,288
4,165
3,696
1,867
35,036
17,463
10,082
23,691
2,841
1,072
514
14,422
9,168
-
825,235

7 Trustees remuneration and expenses

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year. No trustees have received any reimbursed expenses from the charity during the year.

Page 15

African Cultural Exchange Limited

known as The Link Dance Space

Notes to the Financial Statements for the Year Ended 31 March 2025

8 Staff costs

The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows:

Salaried staff
Unpaid Trustees		 2025
No
8
5
13		 2024
No
8
3
11

9 Taxation

The charity is a registered charity and is therefore exempt from taxation.

10 Tangible fixed assets

Cost
At 1 April 2024
Additions
Disposals
At 31 March 2025
Depreciation
At 1 April 2024
Charge for the year
Eliminated on disposals
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024		 Land and
buildings
£
253,965
680,000
-
933,965
253,965
-
-
253,965
680,000
-		 Furniture and
equipment
£
25,997
2,983
(10,965)
18,015
22,587
2,416
(10,715)
14,288
3,727
3,410		 Motor vehicles
£
22,290
-
-
22,290
22,290
-
-
22,290
-
-		 Total
£
302,252
682,983
(10,965)
974,270
298,842
2,416
(10,715)
290,543
683,727
3,410

Included within the net book value of land and buildings above is £680,000 (2024 - £680,000) in respect of a new property purchased in Milk St which is to be developed further and no depreciation has yet been charged.£Nil (2024 - £Nil)

Page 16

African Cultural Exchange Limited

known as The Link Dance Space

Notes to the Financial Statements for the Year Ended 31 March 2025

Impairment

The company purchased a new site in Milk St, Digbeth, on 29th Sept 2023 . Pending development, no depreciatin has yet been charged.

The previous land & buildings includes short leasehold property additions representing expenditure to 31st March 2015 on Studio Buildings alterations at Floodgate St, funded by Arts Council England. The previous lease expired 31st December 2019 and a new one granted for 2 years fix and then a 6 month break clause for both parties thereafter. That expenditure has now been fully written off by depreciation charges.

11 Stock

11 Stock
Finished goods
12 Debtors
Trade debtors
Prepayments
Capital cost - asset under construction
Other debtors
13 Cash and cash equivalents
Cash on hand
Cash at bank
Short-term deposits
14 Creditors: amounts falling due within one year
Trade creditors
Other creditors
Accruals
Arts Councils capital grant deferred income		 2025
£
723
2025
£
2,239
14,667
84,414
8,832
110,152
2025
£
170
51,062
135,372
186,604
2025
£
21,389
7,961
8,750
67,752
105,852		 2024
£
922
2024
£
28,644
9,193
-
3,580
41,417
2024
£
50
41,741
320,599
362,390
2024
£
23,126
15,511
12,592
-
51,229

Page 17

African Cultural Exchange Limited

known as The Link Dance Space

Notes to the Financial Statements for the Year Ended 31 March 2025

15 Creditors: amounts falling due after one year

Bank loans 2025
£
-		 2024
£
340,000

Creditors amounts falling due after more than one year includes the following liabilities, on which security has been given by the charity:

Loan finace of £340,000 was obtained and stood at £340,000 at 31st March 2024, secured on MIlk St. The loan was repaid entirely on 26th March 2025.

16 Funds

Unrestricted funds
General
Accumulated Funds
Designated
Development Fund
Total unrestricted funds
Restricted funds
Springboard
Grimmitt & Grantham Yorke
Total restricted funds
Total funds		 Balance at 1
April 2024
£
537,626
150,000
687,626
9,285
-
9,285
696,911		 Incoming
resources
£
785,636
-
785,636
-
3,700
3,700
789,336		 Resources
expended
£
(597,908)
-
(597,908)
(9,285)
(3,700)
(12,985)
(610,893)		 Balance at 31
March 2025
£
725,354
150,000
875,354
-
-
-
875,354

Page 18