Charity registration number 1156898
U DO IT! DANCE FOUNDATION
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
U DO IT! DANCE FOUNDATION
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | A Orge |
|---|---|
| D Evans | |
| S Dibley | |
| M Guinibert | |
| I Montgomery | |
| J Dehaney | |
| 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 - 17 |
U DO IT! DANCE FOUNDATION
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 MARCH 2024
The trustees present their annual report and financial statements for the year ended 31 March 2024.
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 are:
-
To advance the healthy education, development and wellbeing of under privileged children and young people in lower income and or disadvantaged communities, through their active participation in and opportunities through Dance;
-
To enhance the active and healthy lifestyles of physically and mentally disabled young persons by provision of increased inclusive opportunities - individually and collectively - through Dance;
-
To advance any purposes which are exclusively charitable under the law of England and Wales from time to time by providing support to charities or individuals identified by the Trustees at their discretion.
The objectives are achieved by working with likeminded partner organisations, individuals and grant funders, including, but not exclusively with UDO, Sport Wales, Sport England, MK Community Foundation, Millenium Fund and Sheffield City Council Fund, to harness the unique power of dance and in particular StreetDance to be used as an intervention for those in disadvantaged situations to:
-
Provide regular, inclusive and sustainable quality Dance sessions
-
Educate and provide pathways in leading and teaching dance
-
Volunteering opportunities
-
Events and competitions
Public benefit
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 March 2024 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.
The Trustees confirm that no trustee is a custodian of any funds.
Alp Orge a trustee and acting CEO - provided consultancy services during this financial year.
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Structure, governance and management
UDOIT! Dance foundation is a Registered Charitable Incorporated Organisation (CIO). It is an autonomous organisation with its own constitution, first adopted on 1 May 2014 as amended on 30 May 2018..
page 1
U DO IT! DANCE FOUNDATION
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
The trustees who served during the year and up to the date of signature of the financial statements were: A Orge A Gulvanessian (Resigned 31 December 2023) D Evans S Dibley C Taylor (Resigned 31 December 2023) E Gough (Resigned 31 December 2023) M Guinibert I Montgomery J Dehaney B Symmons (Resigned 29 January 2024)
When new trustees are appointed, the current trustees ensure that the board of trustees have the right balance of skills, knowledge and experience to ensure the original intentions and objectives of UDOIT are maintained within an independent, transparent and suitably governed organisation.
The trustees have formally met at regular intervals during the period with minutes recorded including actions and agreements.
Governance Code
UDOIT are following the Code of Sport Governance Tier 2a as required by Sport England and have ensured that all expectations of that code have been met.
An Audit, Governance & Risk Committee is in place to closely oversee Financial, Governance and Risk matters on behalf of the trustees. This committee meets quarterly and reports to the Trustees.
The trustees' report was approved by the Board of Trustees.
Trustee
Date:
page 2
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 2024.
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
Since the charity’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 ICAEW, which is one of the listed bodies.
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:
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1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
-
2 the financial statements do not accord with those records; or
-
3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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
31/01/2025 Dated: .........................
page 3
U DO IT! DANCE FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
| Current financial year Unrestricted Restricted funds funds 2024 2024 Notes £ £ Income from: Charitable activities 3 152,890 125,476 Investments 4 179 - Total income 153,069 125,476 Expenditure on: Raising funds 5 216 - Charitable activities 6 188,920 109,722 Total expenditure 189,136 109,722 Net (expenditure)/income for the year/ Net movement in funds (36,067) 15,754 Fund balances at 1 April 2023 4,022 - Fund balances at 31 March 2024 (32,045) 15,754 |
Total 2024 £ 278,366 179 278,545 216 298,642 298,858 (20,313) 4,022 (16,291) |
Total 2023 £ 214,632 53 214,685 - 254,840 254,840 (40,155) 44,177 4,022 |
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
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 2024
| Prior financial year Unrestricted Restricted funds funds 2023 2023 Notes £ £ Income from: Charitable activities 3 70,460 144,172 Investments 4 53 - Total income 70,513 144,172 Expenditure on: Charitable activities 6 83,065 171,775 Total expenditure 83,065 171,775 Net (outgoing)/incoming resources before transfers (12,552) (27,603) Net (expenditure)/income for the year/ Net movement in funds (12,552) (27,603) Fund balances at 1 April 2022 16,574 27,603 Fund balances at 31 March 2023 4,022 - |
Total 2023 £ 214,632 53 214,685 254,840 254,840 (40,155) (40,155) 44,177 4,022 |
|---|---|
page 5
U DO IT! DANCE FOUNDATION
BALANCE SHEET
AS AT 31 MARCH 2024
| 2024 | 2023 | |||||
|---|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | ||
| Current assets | ||||||
| Stocks | 11 | 2,850 | - | |||
| Debtors | 12 | 26,549 | 331 | |||
| Cash at bank and in hand | 2,749 | 46,106 | ||||
| 32,148 | 46,437 | |||||
| Creditors: amounts falling due within one | 14 | |||||
| year | (28,569) | (11,545) | ||||
| Net current assets | 3,579 | 34,892 | ||||
| Creditors: amounts falling due after more | ||||||
| than one year | 15 | (19,870) | (30,870) | |||
| Net (liabilities)/assets | (16,291) | 4,022 | ||||
| The funds of the charity | ||||||
| Restricted income funds | 18 | 15,754 | - | |||
| Unrestricted funds | 19 | (32,045) | 4,022 | |||
| (16,291) | 4,022 |
The financial statements were approved by the trustees on 2,8 ··, -1 ....... 01/ ....... 20-2.s
Trustee
page 6
U DO IT! DANCE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
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. The liability is made up partly of a loan from UDO who have agreed that the loan does not need to be repaid until UDOIT can afford to do so. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. UDO Limited have agreed to underwrite the charity to the value of £25,000.
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 or grantors 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 2024
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 Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.
Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.
1.7 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.
1.8 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.
page 8
U DO IT! DANCE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1 Accounting policies
(Continued)
1.9 Taxation
The charity is exempt from tax on its charitable activities.
1.10 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.
1.11 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 Income from charitable activities
| Unrestricted Restricted funds funds 2024 2024 £ £ Project Performance related grants 68,373 125,476 Other income 84,517 - 152,890 125,476 |
Total Unrestricted Restricted funds funds 2024 2023 2023 £ £ £ 193,849 43,644 144,172 84,517 26,816 - 278,366 70,460 144,172 |
Total 2023 £ 187,816 26,816 |
|---|---|---|
| 214,632 |
page 9
U DO IT! DANCE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
| 3 4 5 |
Income from charitable activities (Continued) Performance related grants analysis Project Project 2024 2023 £ £ Sport Wales 82,000 75,000 Sport England - 50,000 StreetGames - 19,172 HAF income 66,373 43,644 Millenium Fund 2,492 - Sport England Small Grants 15,000 - MK Community Foundation 5,984 - Sheffield City Council Fund 20,000 - John Lewis Sponsorship 2,000 - Other - - 193,849 187,816 Income from investments Unrestricted Unrestricted funds funds 2024 2023 £ £ Interest receivable 179 53 Raising funds Unrestricted Total funds 2024 2023 £ £ Fundraising and publicity Other fundraising costs 216 - 216 - |
Income from charitable activities (Continued) Performance related grants analysis Project Project 2024 2023 £ £ Sport Wales 82,000 75,000 Sport England - 50,000 StreetGames - 19,172 HAF income 66,373 43,644 Millenium Fund 2,492 - Sport England Small Grants 15,000 - MK Community Foundation 5,984 - Sheffield City Council Fund 20,000 - John Lewis Sponsorship 2,000 - Other - - 193,849 187,816 Income from investments Unrestricted Unrestricted funds funds 2024 2023 £ £ Interest receivable 179 53 Raising funds Unrestricted Total funds 2024 2023 £ £ Fundraising and publicity Other fundraising costs 216 - 216 - |
|---|---|---|
| Total 2023 £ - |
||
| - |
page 10
U DO IT! DANCE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
6 Expenditure on charitable activities
| Direct costs Staff costs Insurance Merchandise Consultancy Development and delivery Staff training Share of support and governance costs (see note 7) Support Governance Analysis by fund Unrestricted funds Restricted funds Support costs allocated to activities Sundry costs Bank charges Loan interest Governance costs Analysed between: Project |
Project 2024 £ 163,525 1,507 3,945 24,000 98,272 323 291,572 3,100 3,970 298,642 188,920 109,722 298,642 2024 £ 2,513 29 558 3,970 7,070 7,070 |
Project 2023 £ 100,432 802 - 31,000 117,582 - |
|---|---|---|
| 249,816 976 4,048 |
||
| 254,840 | ||
| 83,065 171,775 |
||
| 254,840 | ||
| 2023 £ - 216 760 4,048 |
||
| 5,024 | ||
| 5,024 |
7 Support costs allocated to activities
Governance costs includes payments to the independent examiners of £2,772 (2023 - £2,772)
8 Trustees
None of the trustees (or any persons connected with them) received any remuneration or expenses from the charity during the year.
One of the trustees did receive consultancy fees, the details of which can be seen in note 20 to the financial statements.
page 11
U DO IT! DANCE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
9 Employees
The average monthly number of employees during the year was:
| 2024 | 2023 | ||
|---|---|---|---|
| Number | Number | ||
| 7 | 4 | ||
| Employment costs | 2024 | 2023 | |
| £ | £ | ||
| Wages and salaries | 147,238 | 95,080 | |
| Social security costs | 13,416 | 3,343 | |
| Other pension costs | 2,871 | 2,009 | |
| 163,525 | 100,432 | ||
| There were no employees whose annual remuneration was more than £60,000. | |||
| Remuneration of key management personnel | |||
| The remuneration of key management personnel was as follows: | |||
| 2024 | 2023 | ||
| £ | £ | ||
| Aggregate compensation | 57,705 | 54,142 | |
| 10 | Taxation | ||
| The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. | |||
| 11 | Stocks | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Finished goods and goods for resale | 2,850 | - | |
| 12 | Debtors | ||
| 2024 | 2023 | ||
| Amounts falling due within one year: | £ | £ | |
| Trade debtors | 22,932 | - | |
| Prepayments | 3,617 | 331 | |
| 26,549 | 331 |
page 12
U DO IT! DANCE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
13 Loans and overdrafts
| Loans and overdrafts | ||
|---|---|---|
| Bank loans Other loans Payable within one year Payable after one year |
2024 £ 18,000 9,870 27,870 8,000 19,870 |
2023 £ 26,000 12,870 |
| 38,870 | ||
| 8,000 30,870 |
The loan of £9,870 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.
14 Creditors: amounts falling due within one year
| Notes Bank loans 13 Other taxation and social security Deferred income 16 Trade creditors Other creditors Accruals 15 Creditors: amounts falling due after more than one year Notes Bank loans 13 Other borrowings 16 Deferred income Other deferred income |
2024 £ 8,000 3,006 8,350 2,830 591 5,792 28,569 2024 £ 10,000 9,870 19,870 2024 £ 8,350 |
2023 £ 8,000 - - - 429 3,116 |
|---|---|---|
| 11,545 | ||
| 2023 £ 18,000 12,870 |
||
| 30,870 | ||
| 2023 £ - |
page 13
U DO IT! DANCE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
16 Deferred income
(Continued)
At the year end, £8,350 of trade debtors related to HAF programmes for the 2024 Easter holidays.
| Deferred income is included within: Current liabilities Movements in the year: Deferred income at 1 April 2023 Resources deferred in the year Deferred income at 31 March 2024 17 Retirement benefit schemes Defined contribution schemes Charge to profit or loss in respect of defined contribution schemes |
2024 £ 8,350 - 8,350 8,350 2024 £ 2,871 |
2023 £ - |
|---|---|---|
| - - |
||
| - | ||
| 2023 £ 2,009 |
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.
page 14
U DO IT! DANCE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
18 Restricted funds
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
| Balance at 1 April 2023 £ Sports Wales - Millenium Fund - Sport England Small Grants - MK Community Foundation - Sheffield City Coundil Fund - - |
Movement in funds Incoming resources Resources expended £ £ 82,000 (82,000) 2,492 - 15,000 (1,738) 5,984 (5,984) 20,000 (20,000) 125,476 (109,722) |
Transfers Balance at 31 March 2024 £ £ - - - 2,492 - 13,262 - - - - - 15,754 |
Transfers Balance at 31 March 2024 £ £ - - - 2,492 - 13,262 - - - - - 15,754 |
|---|---|---|---|
| 15,754 |
| Movement in funds Balance at 1 April 2022 Incoming resources Resources expended £ £ £ Sport Wales -Street Dance Wales 945 75,000 (75,945) Sport England 2023 26,658 125,000 (151,658) StreetGames UK - 19,172 (19,172) 27,603 219,172 (246,775) |
Transfers Balance at 31 March 2023 £ £ - - - - - - - - |
Transfers Balance at 31 March 2023 £ £ - - - - - - - - |
|---|---|---|
| - |
page 15
U DO IT! DANCE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
18 Restricted funds
(Continued)
Sport England 2023 - 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.
StreetGames - Funding was awarded to support voluntary and community sports organisations to carry out targeted work supporting children and young people who are at risk of entering the criminal justice system.
Sport Wales - Funding provided to support UDOIT! in providing and growing Streetdance participation and associated programmes across Wales in line with SW strategy. Funding includes staff, core and delivery funding.
Millennium Fund - Funding towards the Cardiff Particip8 Youth programme.
Sport England Small Grants - Funding was awarded to deliver a targeted programme for street dance participation and confidence building across areas of deprivation in Milton Keynes.
MK Community Foundation - To deliver the Streetdance I AM (mental health support programme) to young people within secondary schools in Milton Keynes.
Sheffield City Council Fund - To deliver street dance participation programmes for young people across deprived areas of Sheffield.
John Lewis Sponsorship - Donation towards the programmes being delivered in Milton Keynes.
19 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At 1 April 2023 | At 1 April 2023 | Incoming | Resources | At | 31 March | |
|---|---|---|---|---|---|---|
| resources | expended | 2024 | ||||
| £ | £ | £ | £ | |||
| General funds | 4,022 | 153,069 | (189,136) | (32,045) | ||
| Previous year: | At 1 April 2022 | Incoming | Resources | At | 31 March | |
| resources | expended | 2023 | ||||
| £ | £ | £ | £ | |||
| General funds | 16,574 | 70,513 | (83,065) | 4,022 | ||
| Analysis of net assets between funds | ||||||
| Unrestricted | Restricted | Total | ||||
| funds | funds | |||||
| 2024 | 2024 | 2024 | ||||
| £ | £ | £ | ||||
| At 31 March 2024: | ||||||
| Current assets/(liabilities) | (12,175) | 15,754 | 3,579 | |||
| Long term liabilities | (19,870) | - | (19,870) | |||
| (32,045) | 15,754 | (16,291) |
20 Analysis of net assets between funds
page 16
U DO IT! DANCE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
| 20 | Analysis of net assets between funds | (Continued) | ||
|---|---|---|---|---|
| Unrestricted | Restricted | Total | ||
| funds | funds | |||
| 2023 | 2023 | 2023 | ||
| £ | £ | £ | ||
| At 31 March 2023: | ||||
| Current assets/(liabilities) | 34,892 | - | 34,892 | |
| Long term liabilities | (30,870) | - | (30,870) | |
| 4,022 | - | 4,022 |
21 Related party transactions
One of the trustees Alp Orge received £24,000 (2023: £24,000) for his role as the acting CEO.
page 17