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2022-03-31-accounts

Charity registration number 1156898

U DO IT! DANCE FOUNDATION

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

U DO IT! DANCE FOUNDATION

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees A Orge
A Gulvanessian
D Evans
S Dibley
C Taylor
E Gough
M Guinibert
I Montgomery (Appointed 1 September 2022)
J Dehaney (Appointed 1 September 2022)
B Symmons (Appointed 1 September 2022)
Charity number 1156898
Principal address 25D Lombard Road
Wimbledon
SW19 3TZ
Independent examiner Darren Harding ACA FCCA DChA
Richard Place Dobson Services Limited
1-7 Station Road
Crawley
West Sussex
RH10 1HT

U DO IT! DANCE FOUNDATION

CONTENTS

Page
Trustees' report 1 - 2
Independent examiner's report 3
Statement of financial activities 4 - 5
Balance sheet 6
Notes to the financial statements 7 - 15

U DO IT! DANCE FOUNDATION

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2022

The trustees present their annual report and financial statements for the year ended 31 March 2022.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's constitution, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".

Objectives and activities

UDOIT continues to work closely with, and is supported by, the United Dance Organisation (UDO) Limited who founded UDOIT! Dance Foundation in 2014. A Partnership Agreement has been implemented to recognise the start up, current and future relationships between the two organisations.

The objects of UDOIT during this period were:

These were reviewed in February 2017 and agreed by Trustees as:

The objectives are achieved by working with likeminded partner organisations, individuals and grant funders, including, but not exclusively with UDO, Sport Wales, Sport England, Youth Sport Trust and Streetgames, to harness the unique power of dance and in particular StreetDance to be used as an intervention for those in disadvantaged situations to:

Public benefit

The trustees confirm that they have complied with their duty to have due regard to the guidance on public benefit published by the commission in exercising their powers and duties.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

A detailed activity report for the year ended 31.03.22 is prepared separately and can be requested directly from the charity.

Financial review

Finance Policies have been reviewed and a formal reserves policy is being planned beyond the support of the Partnership Agreement, through AGRC on behalf of the Trustees.

page 1

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U DO IT! DANCE FOUNDATION

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF U DO IT! DANCE FOUNDATION

I report to the trustees on my examination of the financial statements of U Do It! Dance Foundation (the charity) for the year ended 31 March 2022.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

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 that in any material respect:

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 financial statements to be reached.

Darren Harding ACA FCCA DChA

Richard Place Dobson Services Limited 1-7 Station Road Crawley West Sussex RH10 1HT

30/01/2023 Dated: .........................

page 3

U DO IT! DANCE FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2022

Current financial year
Unrestricted
Restricted
funds
funds
2022
2022
Notes
£
£
Income from:
Donations and grants
3
173
-
Charitable activities
4
44,525
125,000
Other trading activities
5
8,806
-
Investments
6
3
-
Total income
53,507
125,000
Expenditure on:
Charitable activities
7
54,601
118,057
Net (expenditure)/income for the year/
Net movement in funds
(1,094)
6,943
Fund balances at 1 April 2021
17,668
20,660
Fund balances at 31 March 2022
16,574
27,603		 Total
2022
£
173
169,525
8,806
3
178,507
172,658
5,849
38,328
44,177		 Total
2021
£
827
189,892
1,455
5
192,179
168,444
23,735
14,593
38,328

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

page 4

U DO IT! DANCE FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2022

Prior financial year
Unrestricted
Restricted
funds
funds
2021
2021
Notes
£
£
Income from:
Donations and grants
3
827
-
Charitable activities
4
-
189,892
Other trading activities
5
1,455
-
Investments
6
5
-
Total income
2,287
189,892
Expenditure on:
Charitable activities
7
827
167,617
Net (outgoing)/incoming resources before transfers
1,460
22,275
Gross transfers between funds
56,332
(56,332)
Net (expenditure)/income for the year/
Net movement in funds
57,792
(34,057)
Fund balances at 1 April 2020
(40,124)
54,717
Fund balances at 31 March 2021
17,668
20,660		 Total
2021
£
827
189,892
1,455
5
192,179
168,444
23,735
-
23,735
14,593
38,328

page 5

U DO IT! DANCE FOIJNDATION BALANCE SHEET ASA T31 MARCH2022 tkbknrs 1.728 99J67 99.714 102338 {IiAV)71 (iiirn 8(677 IXJ.l61 14 I44J￿) {51.833> 44.1 38J28 Is 2714)3 IV74 20,1<•) 17,668 44.177 38J28 21.///iJ

U DO IT! DANCE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

1 Accounting policies

Charity information

U Do It! Dance Foundation is a public benefit entity.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's constitution, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Donations, grants and fundraising income are included in the year in which they are receivable, which is when the charity becomes entitled to the resource unless performance conditions require deferral of the amount.

Incoming resources from charitable activities, which is made up from project income and events income is recognised in the accounts in the year in which it is receivable.

Other trading activities consists of fundraising income which is recognised in the accounts in the year in which it is receivable.

page 7

U DO IT! DANCE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity heading:

Expenditure on charitable activities includes the costs of projects and events and their associated support costs.

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include premises and office related costs which support the charity's activity. These costs have been allocated to expenditure on charitable activities.

Governance costs include those incurred in the governance by the trustees of the charity's assets and are primarily associated with constitutional and statutory requirements of operating the charity. Governance costs are included within support costs and allocated to charitable activity costs.

1.6 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction. Financial liabilities classified as payable within one year are not amortised.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.8 Taxation

The charity is exempt from tax on its charitable activities.

1.9 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

page 8

U DO IT! DANCE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

1 Accounting policies

(Continued)

1.10 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations and grants

Unrestricted Unrestricted
funds funds
2022 2021
£ £
Grants recievable 173 827
Grants receivable for core activities
Government Grant 173 827
173 827

page 9

U DO IT! DANCE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

4 Charitable activities

Project Project
2022 2021
£ £
Performance related grants 169,525 189,892
Analysis by fund
Unrestricted funds 44,525 -
Restricted funds 125,000 189,892
169,525 189,892
Performance related grants
Sport Wales 75,000 88,000
Sport England 50,000 101,892
HAF income 44,525 -
Other - -
169,525 189,892
5 Other trading activities
Unrestricted Unrestricted
funds funds
2022 2021
£ £
Fundraising events 8,806 1,455
6 Investments
Unrestricted Unrestricted
funds funds
2022 2021
£ £
Interest receivable 3 5

page 10

U DO IT! DANCE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

7 Charitable activities

Staff costs
Insurance
Consultancy
Development and delivery
Share of support costs (see note 8)
Share of governance costs (see note 8)
Analysis by fund
Unrestricted funds
Restricted funds
Support costs
Support costs
Governance
costs
£
£
Rent and service charges
1,500
-
Bank charges
216
-
Loan interest
869
-
Accountancy
-
3,766
2,585
3,766
Analysed between
Charitable activities
2,585
3,766		 Project
2022
£
75,715
580
36,000
54,012
166,307
2,585
3,766
172,658
54,601
118,057
172,658
2022 Support costs
Governance
costs
£
£
£
1,500
-
-
216
216
-
869
827
-
3,766
-
3,856
6,351
1,043
3,856
6,351
1,043
3,856		 Project
2021
£
74,744
595
36,000
52,206
163,545
1,043
3,856
168,444
827
167,617
168,444
2021
£
-
216
827
3,856
4,899
4,899

8 Support costs

Governance costs includes payments to the independent examiners of £2,520 (2021- £2,400) for the independent examination.

9 Trustees

None of the trustees (or any persons connected with them) received any remuneration or expenses from the charity during the year.

Two of the trustees did receive consultancy fees, the details of which can be seen in note 18 to the financial statements.

page 11

U DO IT! DANCE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

10 Employees

The average monthly number of employees during the year was:

2022 2021
Number Number
3 3
Employment costs 2022 2021
£ £
Wages and salaries 71,939 70,913
Social security costs 2,219 2,244
Other pension costs 1,557 1,587
75,715 74,744

The key management personnel are the general manager and the acting CEO who do not receive any remuneration for their roles as trustees. The total benefits received were £56,074.

There were no employees whose annual remuneration was more than £60,000.

11 Debtors

11
Debtors
Amounts falling due within one year:
Prepayments
12
Loans and overdrafts
Bank loans
Other loans
Payable within one year
Payable after one year		 2022
£
207
2022
£
34,000
18,500
52,500
8,000
44,500		 2021
£
1,728
2021
£
40,000
18,500
58,500
6,667
51,833

The loan of £18,500 has been provided by UDO Ltd who have not charged interest on the loan and do not expect repayment until U Do It! Dance Foundation is financially able.

The bank loan is a bounce back loan from the bank over a term of 70 months with an interest rate of 2.5%pa. The first 12 months of interest is covered by the UK Government's Business Interruption payments. No loan repayments are required in the first 12 months of the loan being taken out. The first repayment was made on 5th July 2021.

page 12

U DO IT! DANCE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

13
Creditors: amounts falling due within one year
Notes
Bank loans
12
Other taxation and social security
Other creditors
Accruals and deferred income
14
Creditors: amounts falling due after more than one year
Notes
Bank loans
12
Other borrowings		 2022
£
8,000
-
245
2,852
11,097
2022
£
26,000
18,500
44,500		 2021
£
6,667
50
3,060
2,400
12,177
2021
£
33,333
18,500
51,833

page 13

U DO IT! DANCE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

15 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Balance at
1 April 2021
£
Sport Wales -Street Dance Wales
20,660
Sport England
-
20,660		 Movement in funds
Incoming
resources
Resources
expended
£
£
75,000
(94,715)
50,000
(23,342)
125,000
(118,057)		 Transfers
Balance at
31 March
2022
£
£
-
945
-
26,658
-
27,603		 Transfers
Balance at
31 March
2022
£
£
-
945
-
26,658
-
27,603
27,603
Movement in
funds
Balance at
1 April 2020
Incoming
resources
Resources
expended
£
£
£
Sport Wales -Street Dance Wales
7,645
88,000
(74,985)
Sport England - Clubs and research project
47,072
101,892
(92,632)
54,717
189,892
(167,617)		 Transfers
Balance at
31 March
2021
£
£
-
20,660
(56,332)
-
(56,332)
20,660		 Transfers
Balance at
31 March
2021
£
£
-
20,660
(56,332)
-
(56,332)
20,660
20,660

All restricted funds listed relate to project delivery, including associated costs, staffing and project management as per the relevant grant award.

Sport Wales - StreetDance Wales, Sport Wales - Pilot & Sport Wales - Phase 2, all grants awarded from Sport Wales Development Grants.

Sport England - Clubs and research project. With the Award Programme coming to an end on 31 March 2021, affected funds were moved from restricted to unrestricted status with the approval of Sport England.

Sport England - Funding was awarded to secure the immediate future of the organisation and its staff in England for the rest of 2021-22. The first tranche of funding was received in January 2022.

page 14

U DO IT! DANCE FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

16 Analysis of net assets between funds Analysis of net assets between funds
Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2022 2022 2022 2021 2021 2021
£ £ £ £ £ £
Fund balances at 31
March 2022 are
represented by:
Current assets/(liabilities) 61,074 27,603 88,677 69,501 20,660 90,161
Long term liabilities (44,500) - (44,500) (51,833) - (51,833)
16,574 27,603 44,177 17,668 20,660 38,328

17 Covid 19

At the date of approval of the accounts, the financial and direct impact of Covid was still significant on UDOIT.

The continuation of funding from Sport Wales and Sport England ensured that the impact of the Covid could be mitigated. No adjustments have been made to any figures in the accounts as a result of the pandemic.

18 Related party transactions

One of the trustees David Teasdale received £12,000 (2021: £12,000) for his role as a consultant.

One of the trustees Alp Orge received £24,000 (2021: £24,000) for his role as the acting CEO.

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