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2021-03-31-accounts

Changing Dancers Lives

Dancers’ Career Development

Registered charity Company Limited by Guarantee

Annual Report and Financial Statements Year Ended 31 March 2021

Charity number: 1168958 Company number: 10137622

“Covid-19 has been devastating for the dance profession.

Thankfully, Dancers’ Career Development is here for all UK dancers to provide vital support, guidance and invaluable resources during this challenging time.

DCD is here for every dancer, from every background, working across every artistic genre. DCD believes in the power of dancers and their potential to challenge, contribute, lead and change the world”

Christopher Wheeldon OBE – Patron of Dancers’ Career Development

thedcd.org.uk Twitter: @dcd_dancers Facebook: /Dancers’CareerDevelopment Instagram: dcd_dancers

Dancers’ Career Development Annual Report and Financial Statements For the Year Ended 31 March 2021

Contents Page
Reference and Administrative Information 1
Message from the Chair 4
Report of the Director/Trustees 5
Independent Examiner’s Report 13
Statement of Financial Activities 14
Balance Sheet 15
Statement of Cash Flows 16
Notes Forming Part of the Financial Statements 17

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Dancers’ Career Development Annual Report and Financial Statements For the Year Ended 31 March 2021

Reference and Administrative Information

Governing document: Memorandum and Articles of Association Charity number: 1168958 Company number: 10137622

Key management personnel – Trustees

The trustees who are also directors under company law who served during the year and up to the date of this report were as follows:

Zoë van Zwanenberg – Chair Robert Alexander Viviana Durante (Appointed September 2021) Fred Emden Joce Giles (Appointed September 2021) Charles Glanville – Vice Chair Hilary Hadley Ida Levine Ingrid Mackinnon (Appointed September 2021) Jean-Marc Puissant (Appointed September 2021) Sue Sloan Dr Sara Wookey (Appointed September 2021)

Key management personnel – Executive Director Jennifer Curry Registered office and operational address: Plouviez House 19-20 Hatton Place London EC1N 8RU Independent Examiner: Simon Erskine 61 Mortimer Road London NW10 6QR

Financial advisers: CCLA

Financial advisers: CCLA
Senator House
85 Queen Victoria Street
London EC4V 4ET
Bankers:
Unity Trust Bank
PO BOX 7193
Planetary Road
Willenhall WV1 9DG
Solicitors: Russell Cooke LLP
2 Putney Hill
London SW15 6AB

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Dancers’ Career Development Annual Report and Financial Statements For the Year Ended 31 March 2021

Message from the Chair

I write this message as the world continues to navigate the impact of the COVID-19 Pandemic.

Professional dancers have faced inestimable challenges during this period. Loss of employment, income, routine, community, colleagues and confidence. DCD’s work has never been so critical.

This year we have witnessed an extraordinary increase in demand for our programmes of support.

Our programme of work is overseen by a dedicated Board of Trustees. Following a pubic recruitment process, we were delighted to welcome five new Trustees to the DCD Board: Viviana Durante, Joce Giles, Ingrid Mackinnon, Jean-Marc Puissant and Dr Sara Wookey. This impressive group includes experts in their fields from within and outside the dance sector, including current and former dancers and DCD alumni, from a range of dance genres and backgrounds.

We have also welcomed five additional members of the DCD Grants Committee. The Committee works tirelessly to assess all applications for Financial Retraining Grants to DCD within an annual budget set by the DCD Board. We are delighted to welcome Hannah Gibbs, Clare Smart, Silvia Melchior, Edward (Eddie) De Souza and James (Jamie) McAlpine.

Sadly, we say a heartfelt goodbye to Cherry Gillespie and Marguerite Porter, both long serving members of the DCD Grants Committee. Throughout their many years of service, Cherry and Marguerite have changed the lives of thousands of dancers and their thoughtful contributions will be sorely missed. This year we also said goodbye to a number of DCD staff members: Simon Brears, Clare Davis and Hanna Madalska-Gayer.

We have welcomed new members of the DCD Team – Ikram Hirse joins us as Operations Manager, Abigail Walton as Director of Development and Lucy Glover continues as Dancer Support and Programmes Officer. We also welcome back Ellen Chambers, who has returned from Maternity leave.

This year DCD has undertaken important work around Equality, Diversity and Inclusion. DCD engaged Dr Maxine Room CBE, a specialist Equality and Diversity consultant to assist the organisation in developing and embedding EDI best practice in every area of the charity. DCD Trustee Rob Alexander has been appointed as the DCD Equality, Diversity and Inclusion Board Champion. Our full statement and approach can be found on our website here

We are grateful to all of the Trusts and Foundations, Organisations and Individuals who continue to support DCD, in particular our group of dedicated DCD Patrons. With particular thanks to Sue and Graeme Sloan, Ida Levine, Jamie McAlpine, Paul Rhodes and Charles Glanville for their kind support this year.

DCD is proud to be a member charity of Acting for Others; a coalition of theatrical charities, each providing financial and emotional support to all theatre workers in times of need. We are indebted to the continual support of Acting for Others and to the many superb fundraising activities which took place throughout 2020 in aid of member charities.

Our main focus for 2021/22 is to continue to adapt in a responsible, brave and responsive way to the COVID19 Pandemic. We will safeguard organisational resilience and financial sustainability through good governance, diversifying income streams and continuing to foster relationships with our key funders. We look forward to working with you on this journey.

Zoë van Zwanenberg Chair

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Dancers’ Career Development Annual Report and Financial Statements For the Year Ended 31 March 2021

Report of the Director/Trustees

The Director/Trustees of Dancers’ Career Development are pleased to present their annual report together with the financial statements of the charitable company for the year ended 31 March 2021 which are also prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes.

This report sets out our clear vision for the charitable company and contains detailed future plans for 2021/22 in core areas, including Transition Support Programmes, Income Generation, Advocacy and Profile Raising and Strategic Partnerships.

The reference and administrative information set out on page 1 forms part of this report.

The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association 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).

Our purposes and activities

The charitable objectives of Dancers’ Career Development (DCD) are:

  1. The advancement in life of dance students which is achieved through, in particular but not exclusively, the provision of support, advice and assistance;

  2. The relief of unemployment of professional dancers in such ways as the Trustees think fit including by the provision directly or indirectly of advice, coaching, vocational training and re-training;

  3. To carry out such other legally charitable purposes for the benefit of such persons as aforesaid as the Trustees shall from time to time determine.

The principal activities of DCD are supporting all professional dancers in the UK to navigate a successful transition when they are no longer able to perform professionally. DCD offers guidance to all professional dancers in the UK from across the dance industry. The charitable company offers a range of support through its bold programme of Transition Support Programmes, which includes:

We refer to the Charity Commission’s general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, we consider how planned activities will contribute to the aims and objectives that we have set. The Director/Trustees are satisfied that Dancers’ Career Development meets the Charity Commission’s guidelines with regard to delivering public benefits.

Achievements and Impact

1. Transition Support Programmes

In March 2020 DCD began the journey of rapidly adapting the charity’s in-person programmes to a digital setting, to respond to the Covid-19 Pandemic. The DCD team designed and delivered a refreshed and responsive programme of support for the UK’s professional dance community. All programmes are free of charge.

Achievements in 2020/21 include:

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Dancers’ Career Development Annual Report and Financial Statements For the Year Ended 31 March 2021

moving forwards with their career plans and support them in beginning to plan for career transition.

“I am walking away inspired, uplifted and courageous. I felt like DCD helped me remove the coat of armour I had wrapped around my heart, during these times of uncertainty, & instead helped fill it with hope.” Dancer & Workshop Participant

In 2021/22 DCD will seek to strengthen our range of support for dancers further and make it even easier for dancers to access DCD’s support. Plans for the forthcoming year include:

2. Advocacy & Profile Raising

Taking an active part in the global conversation around career transition for dancers is an integral part of DCD’s work. We seek to share best practice, raise awareness and foster a positive culture around career transition within the dance industry and beyond. 2010/21 highlights include:

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Dancers’ Career Development Annual Report and Financial Statements For the Year Ended 31 March 2021

Plans for the forthcoming year include:

3. Building strategic partnerships

We continue to collaborate with partners in order to broaden our reach, enhance our creativity and ultimately to enable us to better support professional dancers across the UK.

DCD is an essential part of the UK Dance ecology and in 2020/21 we continued our work with a diverse and vibrant group of organisations across the UK and globally.

Plans for the forthcoming year for Strategic Partnerships include:

“A practical, friendly and firm hand to hold you while you ponder, while you feel lost, or while you try and build something new. A lifeline, even.”

Dancer & Personal and Career Coaching Participant

4. Income Generation

In 2020/21, DCD continued to focus on increasing revenue and diversifying income sources. DCD were unable to host any in person fundraising or cultivation events due to COVID-19, however, DCD were pleased to raise just over £20,000 from a new digital fundraising Appeal #4Dancers.

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Dancers’ Career Development Annual Report and Financial Statements For the Year Ended 31 March 2021

DCD are extremely proud to be one of the member charities of Acting for Others. Acting for Others has raised over £1.7million through the Pandemic, which has been distributed to 14 member charities within the theatre community. DCD is incredibly thankful to all those who have supported Acting for Others, which has enabled DCD to continue supporting independent and professional dancers throughout the Pandemic.

DCD were pleased to welcome Abigail Walton to a new role of Director of Development in October 2021. Abigail will work towards increasing voluntary income, focusing particularly on Individual Giving and diversifying our pool of Trusts and Foundations.

Financial Review

Total income for the year was £617,418 (2019/20 £506,486) of which £478,288 was unrestricted (2019/20 £387,362) and £139,130 was restricted income (2019/20 £119,124).

Total expenditure for the year was £611,250 (2019/20 £506,180) of which £489,719 was unrestricted (2019/20 £423,192) and £121,531 was restricted expenditure (2019/20 £82,988).

Total funds carried forward at 31 March 2021 was £927,054 (2019/20 £765,175), which was made up of unrestricted reserves of £778,960 (2019/20 £644,673) and restricted funds of £148,094 (2019/20 £120,502). Of the unrestricted funds £449,682 was represented by the designated dance companies fund (2019/20 £442,475).

Designated income from partner dance companies amounted to £236,851. Other notable income streams included continued funding from Acting for Others of £145,000 and support from The Royal Opera House Benevolent Fund equating to £50,630.

The market value of the investments amounted to £795,910 as at 31 March 2021 (2019/20 £640,200) and net realised and unrealised gains on the investments were £155,710 (31 March 2020 losses of £290).

Total expenditure on charitable activities during the year amounted to £560,415. This was expended on the charity’s transition support programmes and was made up of £319,213 expended on Retraining Grant Making and £235,038 expended on Coaching, EVOLVE workshops and guidance. Other support programmes were £6,165.

Staff costs for the year were £173,547 and retraining grants payable amounted to £262,210.

The movement in funds on the unrestricted independent dancers funds, the designated dance companies fund and the restricted independent dancers funds may be seen in note 15 to the financial statements.

The figures above are all after accounting for a prior year adjustment explained in Note 25 to the financial statements. During the year the charity was advised that the contributions from dance companies were unrestricted fees rather than restricted grants and therefore should also be subject to VAT. The financial statements have been amended to reclassify the dance companies fund as a designated unrestricted fund and include the income and related expenditure net of VAT and the net VAT due to HMRC as a creditor for the current year and as a prior year adjustment.

Investment powers, policy and performance

Investment performance during the year was as follows:

Net realised and unrealised gains on investments: £155,710

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Dancers’ Career Development Annual Report and Financial Statements For the Year Ended 31 March 2021

The Market value at 31 March 2021 was £795,910.

The Investment Objectives as outlined in the investment policy are:

Reserves policy

DCD’s reserves are in the form of listed investments and bank deposits, the fluctuating income from which, when added to the contributions DCD receives from the companies and other sources of income, enables DCD to deliver the programmes it provides for dancers and to make discretionary awards to applicants.

Throughout their career, professional dancers accrue the number of performance years as required by DCD’s eligibility criteria and therefore the option to apply to DCD for financial assistance. The number of dancers who could apply for DCD financial assistance on an annual basis is very difficult to quantify as the dancers are not obliged to apply for the assistance immediately upon becoming eligible to do so, and their decision to embark on a new career is generally influenced by a number of unpredictable factors. As a result, it is necessary for DCD to hold an appropriate amount of reserves, so as to help ensure that the charity can maintain its programme of support to all eligible professional dancers.

It has been necessary for DCD to partially fund awards made to Company dancers from its reserves, and DCD has cut the maximum award levels and tightened eligibility requirements. This is as a result of the Company contributions to DCD being reduced from 5% of Dancers’ salaries to 2.5% in 2012.

The DCD policy on free reserves is to hold no less than 3 months total expenditure (£150,000 on current levels of expenditure) but optimally 6 months (£300,000 on current levels of expenditure). Free reserve levels stood at £317,933 at 31 March 2021.

The reserves as at 31 March 2021 were as follows:

Unrestricted general funds £318,482–includes free reserve of £317,933
Designated Dance Companies funds £449,682
Other designated funds £10,795
Restricted Independent Dancers funds £148,094
Total funds **£927,054 **

Grant making policy

Key areas include:

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Dancers’ Career Development Annual Report and Financial Statements For the Year Ended 31 March 2021

In 2020/21 DCD reviewed and refreshed key documentation for dancers including guidelines for making an application to DCD and guidelines for Grants Committee members when assessing applications. No major changes to Grant Giving policy were implemented, other than the continuation of a cap of £1,000 to Independent dancers who are not in receipt of a Bursary.

Vision for the Future for Dancers’ Career Development

The focus for the charitable company in 2021/22 is to:

Structure, governance and management

At midnight on 31 March 2017 , Dancers’ Career Development Trustee Limited, as sole corporate trustee of the Independent Dancers’ Resettlement Trust, transferred its assets, liabilities and undertakings by Deed of Transfer to a new charity, ‘Dancers’ Career Development’ a company limited by guarantee registered in England and Wales (registered company number 10137622) and a registered charity (registered charity number 1168958) whose registered office is at Plouviez House, 19-20 Hatton Place, London EC1N 8RU.

Organisational structure

The Director/Trustees are responsible for administering the charity and meet up to 4 times per year to agree strategic and policy matters and to review the operational performance of the charity. There are also two sub-groups: the Grants Committee and the Audit and Risk Committee.

The day to day management of the charity, strategically and operationally, is the responsibility of the Executive Director, Jennifer Curry. The Executive Director manages all members of staff.

The Board of Trustees:

The Board is made up of 12 Director/Trustees. The Board met four times during the year.

Director induction and training:

Each Director/Trustee receives an appropriate induction and training following the appointment, led by the Chair and Executive Director. The Director/Trustee is given all relevant induction material such as the charity’s governing document, accounts and minutes from meetings. This also includes key guidance produced by regulators and other organisations. The induction also ensures that the new Director/Trustee meets with key charity personnel.

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Dancers’ Career Development Annual Report and Financial Statements For the Year Ended 31 March 2021

Grants Committee:

The Grants Committee was chaired by Sue Sloan and met three times during the year, reporting to each subsequent Board meeting on its business. The remit of the Committee is to consider and award all applications for Financial Retraining Grants, with the authority to make Financial Retraining Grants within a budget set by the Board. New Terms of Reference for the Committee were agreed by the Board in May 2021.

Audit and Risk Committee:

The Audit and Risk Committee is chaired by Fred Emden and met four times during the year, reporting to each subsequent Board meeting on its business. The objectives of the Committee are as follows: to provide the Board of Trustees with an assessment of DCD’s external audit and statutory annual accounts, with the objective of providing assurance of the quality and reliability of the published statements; and to review/oversee the establishment and maintenance of effective systems of governance, risk management, internal controls, and an appropriately robust financial and legal framework, across the whole of DCD’s activities, that support the achievement of the organisation’s objectives and strategic goals.

Related parties

All related party connections and transactions between Director/Trustees or senior management and the charity must be disclosed to the Board in the same way as any other contractual relationship with a related party. Details of Director/Trustees’ expenses and related party transactions are disclosed in note 7 and 9 to the financial statements. Aggregate unrestricted donations from related parties were £10,834 for the year ended 31 March 2021. There were no other related party transactions to disclose for 2021.

Pay policy for senior staff

The Director/Trustees and the Executive Director comprise the key management personnel of the charity in charge of directing and controlling, running and operating the charity on a day to day basis. All Director/Trustees give of their time freely and no Director/Trustee received remuneration in the year.

Staff pay differentials are related to skill levels required, workload, responsibilities, qualifications and external labour market forces. Pay reviews are undertaken regularly and take account of the following factors:

Risk management

As part of their ongoing monitoring of the charity’s activities, the Director/Trustees regularly review any risks to which they think the charity may be subject. The Director/Trustees have a risk management strategy which comprises:

The risk register is considered at each Audit and Risk Committee meeting and key outcomes presented to the Board of Directors.

Major risks identified include:

COVID-19 specific: The Director/Trustees have worked with the Executive to continue to identify key risks as a direct result of the pandemic. These include reduced funding from partner companies, reduced funding from current sources such as Trusts and Foundations and individuals and reduced capacity to raise funds through events and significantly poor investment loss due to market volatility. Actions that have been taken to mitigate against these risks include:

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Dancers’ Career Development Annual Report and Financial Statements For the Year Ended 31 March 2021

Risk: Partner Companies reduce funding.

Action taken to mitigate the risk: DCD have continued to foster close working relationships with all Partner Companies. The Executive Director meets with Senior Management regularly and continues to demonstrate the value that DCD’s work brings to both the dancers and the companies. We continue to build our offer for dancers working with our Partner Companies and seek ways in which we can continue to work together for the benefit of the dancers.

Risk: Loss of key staff due to progression or absence without a suitable succession plan. Action taken to mitigate the risk: A full staff structure review will be undertaken in 2020/21 and continued in 2021/22. The Board will review all current roles within the organisation, including a focus on capacity within the staff team as a result of the drastic increase in demand from dancers.

The Director/Trustees confirm that all other major risks to which the charity is exposed have been reviewed and that systems or procedures have been established to mitigate those risks, as far is as reasonably possible.

The Director/Trustees responsibilities in relation to the financial statements

The charity trustees (who are also the directors of the company for the purposes of company law) are responsible for preparing an annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Director/Trustees prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company as at the balance sheet date and of its incoming resources and application of resources, including the income and expenditure, for that financial year. In preparing those Financial Statements, the Director/Trustees should follow best practice and are required to:

The Director/Trustees are responsible for maintaining proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and to 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.

Independent Examiner

Simon Erskine FCA FCIE DChA was re- appointed as independent examiner of the charitable company during the year and has expressed his willingness to continue in that capacity.

By order of the Director/Trustees of the charitable company

Zoë van Zwanenberg Chair 15 December 2021

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Independent examiner's report to the Trustees of Dancers' Career Development

I report to the charity trustees on my examination of the accounts of Dancers' Career Development for the year ended 31 March 2021 which are set out on pages 14 to 33.

This report is made solely to the Trustees, as a body, in accordance with regulations made under section 154 of the Charities Act 2011. My work has been undertaken so that I might state to the Trustees matters I am required to state to them in an Independent Examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Trustees for my independent examination work, for this report, or for the statement I have given below.

Responsibilities and basis of report

As the charity 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 company’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 the Institute of Chartered Accountants in England and Wales 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 that in any material respect:

  1. accounting records were not kept in respect of the company 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).

Simon Erskine FCA FCIE DChA 61 Mortimer Road, London, NW10 5QR 15 December 2021

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Dancers' Career Development Statement of Financial Activities (Incorporating an Income and Expenditure Account) For the Year Ended 31 March 2021

Note
Income from:
Donations and legacies
2
Charitable activities
Transition support programmes:
Retraining grant making
3
Coaching, EVOLVE workshops and guidance
3
Other Support Programmes
3
Events
Investments
Total income
Expenditure on:
Raising funds and the profile of the charity
4
Charitable activities
Transition support programmes:
Retraining grant making
4
Coaching, EVOLVE workshops and guidance
4
Other Support Programmes
4
Total expenditure
Net income / (expenditure) before gains and
losses on investments
Net gains / (losses) on investments
11
Net income / (expenditure) for the year and
Net movement in funds for the year
5
Reconciliation of funds:
Transfers between funds
15
Total funds
Total funds brought forward
Prior year adjustment
25
Total funds brought forward (as restated)
Total funds carried forward
15		 Unrestricted
funds
£
42,232
429,351
6,705
-
-
-
478,288
35,198
299,904
154,617
-
489,719
(11,431)
145,717
134,286
-
134,286
644,673
-
644,673
778,960		 Restricted
funds
£
-
18,500
69,630
51,000
-
-
139,130
15,636
19,309
80,421
6,165
121,531
17,599
9,993
27,592
-
27,592
120,502
-
120,502
148,094		 2021
Total
funds
£
42,232
447,851
76,335
51,000
-
-
617,418
50,834
319,213
235,038
6,165
611,250
6,168
155,710
161,878
-
161,878
765,175
-
765,175
927,054		 2020
Total
funds
restated
£
24,283
377,927
88,210
16,066
-
-
506,486
61,046
281,699
163,435
-
506,180
305
(290)
15
-
15
827,148
(61,988)
765,160
765,175

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 15 to the financial statements.

The notes on pages 17 to 33 form part of these financial statements.

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Dancers' Career Development Balance Sheet As at 31 March 2021

Note
Fixed assets:
Tangible assets
10
Investments
11
Current assets:
Debtors
12
Cash at bank and in hand
Liabilities:
Creditors: Amounts falling due within one year
13
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more than
one year
14
Total net assets
The funds of the charity:
Unrestricted income funds:
General funds
15
Designated funds
15
Total unrestricted funds
Restricted income funds:
Independent Dancers funds
15
Total restricted funds
Total charity funds		 £
26,142
526,629
552,771
(422,176)
318,482
460,477
148,094
20		 £
549
795,910
796,459
130,595
927,054
-
927,054
778,960
148,094
927,054
21		 £
52,081
449,483
501,564
(377,871)
211,654
433,020
120,502
2020		 £
1,282
640,200
restated
641,482
123,693
765,175
-
765,175
644,673
120,502
765,175

The directors consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 relating to small companies.

Trustees responsibilities:

Approved by the trustees on 15 December 2021 and signed on their behalf by:

Zoë van Zwanenberg Chair

Charles Glanville Vice Chair

Company limited by guarantee, registered number 10137622

The notes on pages 17 to 33 form part of these financial statements

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Dancers' Career Development Statement of Cash Flows For the Year Ended 31 March 2021

Note
Cash flows from operating activities
Net cash provided by / (used in) operating activities
20
Cash flows from investing activities:
Purchase of tangible fixed assets
Purchase of investments
Net cash provided by / (used in) investing activities
Increase / (decrease) in cash and cash equivalents in
the year
21
Cash and cash equivalents at the beginning of the year
21
Cash and cash equivalents at the end of the year
21		 £
-
-
20		 £
77,146
-
77,146
449,483
526,629
21		 £
£
49,813
-
-
-
49,813
399,670
449,483
2020 restated		 £
£
49,813
-
-
-
49,813
399,670
449,483
2020 restated
49,813
399,670
449,483

The notes on pages 17 to 33 form part of these financial statements

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Dancers' Career Development Notes Forming Part of the Financial Statements For the Year Ended 31 March 2021

1 Accounting policies

Basis of preparation

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) (effective 1 January 2019) - (Charities SORP FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note. As explained in note 22 below, the charitable company had no transactions before 31 March 2017.

Comparative figures for the Statement of Financial Activities and Notes to the Financial Statements are included in note 24.

Public benefit entity

The charitable company meets the definition of a public benefit entity under FRS 102.

Going concern

The trustees consider that there are no material uncertainties about the charitable company’s ability to continue as a going concern. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

Critical accounting judgements and estimates

In preparing these financial statements, management has made judgements, estimates and assumptions that affect the application of the charitable company’s accounting policies and the reported assets, liabilities, income and expenditure and the disclosures made in the financial statements. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events and are believed to be reasonable under the circumstances.

Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.

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 recognised on an accruals basis as a liability is incurred, inclusive of VAT which cannot be recovered.

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Dancers' Career Development Notes Forming Part of the Financial Statements For the Year Ended 31 March 2021

Expenditure (continued)

Fund accounting

Unrestricted funds are received or generated for the charitable purposes.

Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund.

Designated funds are unrestricted funds earmarked by the trustees for particular purposes.

It is the intention of the Trustees that the fixed asset investments belong respectively to the General Fund and any designated fund (i.e. the unrestricted funds), the Dance Companies Fund, the Leslie Edwards Bursary Fund and the Matthew Winsten Bursary Fund pro rata to the book value of these funds. Because of movements in the funds the proportion of the investments attributable to each fund is recalculated at the start of each financial year, based on the book values of the funds at the end of the previous financial year. These proportions are then used to allocate investment gains/losses to the funds.

Allocation of support costs

Expenditure is allocated to the particular activity where the cost relates directly to that activity. However, the cost of overall direction and administration of each activity, comprising the salary and overhead costs of the central function, is apportioned on the following basis which is an estimate of the amount attributable to each activity.

Employee benefits – Pension scheme

The charity contributes to stakeholder pension schemes for its full time employees. The assets of the schemes are held separately from those of the charity in independently administered funds. The aggregate costs being 7% (2019: 5%) of pensionable salaries are charged to the statement of financial activities for the period to which they relate. The charitable company has no liability under the schemes other than payments of these contributions.

Operating leases

Rentals are charged on a straight line basis over the term of the lease.

Tangible fixed assets

Tangible fixed assets are accounted for at historic cost less a provision for depreciation. Expenditure on equipment in excess of £100, with a useful life of at least 3 years, is capitalised as tangible fixed assets.

Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use.

18

Dancers' Career Development Notes Forming Part of the Financial Statements For the Year Ended 31 March 2021

Tangible fixed assets (continued)

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

Office and computer equipment:

25% straight line

Fixed asset investments

Investments are a form of basic financial instruments and are initially shown in the financial statements at market value. Movements in the market values of investments are shown as unrealised gains and losses in the Statement of Financial Activities.

Profits and losses on the realisation of investments are shown as realised gains and losses in the Statement of Financial Activities. Realised gains and losses are calculated between sales proceeds and their opening carrying values or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the end of the year and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.

Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments, including trade and other debtors and creditors are initially recognised at transaction value and subsequently measured at their settlement value.

Debtors

Trade and other debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

19

Dancers' Career Development Notes Forming Part of the Financial Statements For the Year Ended 31 March 2021

2
Income from donations and legacies
Individual giving
Covid-19 #4Dancers Campaign
Legacies receivable
3
Income from charitable activities
Contributions receivable from dance companies:
The Royal Ballet
English National Ballet
Birmingham Royal Ballet
Scottish Ballet
Northern Ballet
Rambert Dance Company
Richard Alston Dance Company
Combined Theatrical Charities
Equity Charitable Trust
Royal Opera House Benevolent Fund
Rudolf Nureyev Foundation
Other
Sub-total for retraining grant making
Royal Opera House Benevolent Fund
Linbury Trust
Graduate Programme
Coaching, Workshops & Guidance
Sub-total for coaching, EVOLVE workshops
and guidance
Anonymous donation
Linbury Trust
Clore Duffield Foundation
Sub-total for Other Support Programmes
Total income from charitable activities		 Unrestricted
funds
£
22,185
20,047
-		 Restricted
funds
£
-
-
-		 2021
Total
funds
£
22,185
20,047
-		 2020
Total
funds
restated
£
23,619
-
664
42,232 - 42,232 24,283
97,459
39,220
36,916
26,215
24,750
12,291
-
132,500
45,000
10,000
-
5,000		 -
12,500
-
-
6,000
-		 97,459
39,220
36,916
26,215
24,750
12,291
-
145,000
45,000
10,000
6,000
5,000		 108,835
55,578
39,899
28,880
25,965
14,730
3,040
45,000
45,000
-
6,000
5,000
429,351
-
-
5,100
1,605		 18,500
40,630
29,000
-
-		 447,851
40,630
29,000
5,100
1,605		 377,927
57,624
26,934
-
3,652
6,705
-
-
-		 69,630
50,000
1,000
-		 76,335
50,000
1,000
-		 88,210
-
8,066
8,000
- 51,000 51,000 16,066
436,056 139,130 575,186 482,203

20

Dancers' Career Development Notes Forming Part of the Financial Statements For the Year Ended 31 March 2021

4
Analysis of expenditure
Staff costs (note 6)
Retraining grants and bursaries (note 7)
Coaching
Clore Leadership Dance Fellowship
Psychology workshops
EVOLVE workshops
Beyond dance mentoring
Graduate programme
Other transition support programmes
E Newsletter, advertising and fundraising
Costs of appeals
Costs of events
Use of office, boardroom and service charges
Staff training, recruitment and life coaching
Legal and other professional fees
Diversity and inclusion
Telephone, broadband and PP&S
Website maintenance, Social media, IT support and software
Independent examination fees
IOTPD membership and meetings
Depreciation of fixed assets
Other direct and office costs
Overhead costs of the office function
Governance costs
Total expenditure 2021
Total expenditure 2020		 Costs of
raising funds
and the profile
of the charity
£
29,998
-
-
-
-
-
-
-
-
6,887
1,850
-
-
-
-
-
-
-
-
-
-
-		 Charitable activitie s Governance
Overhead
costs
costs of
the office
function
£
£
13,023
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
9,950
-
8,885
7,334
-
4,000
-
-
1,808
-
2,928
1,700
-
-
631
-
733
-
5,079
26,057
30,014
2,644
(30,014)
(28,701)
-
-
0
-
-
Support costs		 Governance
Overhead
costs
costs of
the office
function
£
£
13,023
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
9,950
-
8,885
7,334
-
4,000
-
-
1,808
-
2,928
1,700
-
-
631
-
733
-
5,079
26,057
30,014
2,644
(30,014)
(28,701)
-
-
0
-
-
Support costs		 2021
Total
funds
£
173,547
262,210
66,804
15,000
10,225
10,349
6,000
5,750
9,579
6,887
1,850
-
9,950
8,885
7,334
4,000
1,808
2,928
1,700
631
733
5,079		 2020
Total
funds
restated
£
201,283
221,816
21,707
-
5,745
2,546
-
-
15,549
1,704
-
2,186
10,500
5,695
1,502
-
3,907
1,563
2,000
1,159
1,013
6,305
Retraining
grant
making
£
39,199
262,210
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Coaching,
EVOLVE
workshops
and guidance
£
91,327
-
66,804
15,000
10,225
10,349
6,000
5,750
3,414
-
-
-
-
-
-
-
-
-
-
-
-
-		 Other
Support
Programmes
£
-
-
-
-
-
-
-
-
6,165
-
-
-
-
-
-
-
-
-
-
-
-
-
38,735
6,090
6,009		 301,409
8,831
8,972		 208,869
12,449
13,720		 6,165
-
-		 26,057
2,644
(28,701)		 30,014
(30,014)
-		 611,250
-
-		 506,180
-
-
50,834 319,212 235,038 6,165 - 0 611,250 506,180
61,046 281,699 163,435 - - - - 506,180

21

Dancers' Career Development Notes Forming Part of the Financial Statements For the Year Ended 31 March 2021

5 Net income / (expenditure) for the year 2021 2020
£ £
This is stated after charging:
Independent Examiner's remuneration 1,700 2,000
Depreciation of fixed assets 733 1,013

Support costs and governance costs are allocated on the basis of estimates of the proportion of time spent by staff on those activities.

6
Staff costs, trustee remuneration and expenses and the cost of key management personnel
Staff costs were as follows:
Salaries and wages
142,213
164,332
Social security costs
9,742
12,334
Pension contributions
11,752
12,817
163,707
189,483
Bookkeeping and accountancy
9,840
11,800
173,547
201,283		 6
Staff costs, trustee remuneration and expenses and the cost of key management personnel
Staff costs were as follows:
Salaries and wages
142,213
164,332
Social security costs
9,742
12,334
Pension contributions
11,752
12,817
163,707
189,483
Bookkeeping and accountancy
9,840
11,800
173,547
201,283		 6
Staff costs, trustee remuneration and expenses and the cost of key management personnel
Staff costs were as follows:
Salaries and wages
142,213
164,332
Social security costs
9,742
12,334
Pension contributions
11,752
12,817
163,707
189,483
Bookkeeping and accountancy
9,840
11,800
173,547
201,283
163,707
9,840		 189,483
11,800
173,547 201,283

No employees had employee benefits in excess of £60,000 during the year (2020: Nil).

The key management personnel of the charity comprise the trustees and the Executive director. The total employee benefits including pension contributions and employer national insurance contributions of the key management personnel were £56,458 (2020: £49,820).

The charity trustees were not paid or received any benefits from employment with the charity in the year (2020:£Nil). No charity trustees were reimbursed expenses during the year. (2020: Two trustees £816).

The average monthly number of full-time equivalent employees during the year was as follows:

Retraining grant making
Coaching, EVOLVE workshops and guidance
Other Support Programmes
Fundraising
Governance and support
Charitable activities		 2021
Number
1
1
1
1
1		 2020
Number
1
2
1
1
1
5 6

22

Dancers' Career Development Notes Forming Part of the Financial Statements For the Year Ended 31 March 2021

7
Retraining grants payable
Retraining grants payable comprise grants to professional dancers and ex-
dancers to assist them to retrain in their chosen field when their performing
career has come to an end through age or injury:
Unrestricted Independent Dancers Fund - Awards to 65 dancers (2020: 25)
Restricted Independent Dancers Fund - Awards to 6 dancers (2020: 5)
Designated Dance Companies Fund - Awards to 76 dancers (2020: 57)
Grants written back in the year
A list of grants payable is maintained at the registered office.
2021
Reconciliation of grants payable:
£
£
Commitments at 1 April 2020
213,087
Commitments made in the year
326,712
Grants payable for the year
539,799
Grants paid during the year
(278,706)
Grants written back in the year
(64,502)
Commitments at 31 March 2021
196,591
Commitments at 31 March 2021 are payable
as follows:
- Within one year
196,591
- After more than one year
-
196,591		 7
Retraining grants payable
Retraining grants payable comprise grants to professional dancers and ex-
dancers to assist them to retrain in their chosen field when their performing
career has come to an end through age or injury:
Unrestricted Independent Dancers Fund - Awards to 65 dancers (2020: 25)
Restricted Independent Dancers Fund - Awards to 6 dancers (2020: 5)
Designated Dance Companies Fund - Awards to 76 dancers (2020: 57)
Grants written back in the year
A list of grants payable is maintained at the registered office.
2021
Reconciliation of grants payable:
£
£
Commitments at 1 April 2020
213,087
Commitments made in the year
326,712
Grants payable for the year
539,799
Grants paid during the year
(278,706)
Grants written back in the year
(64,502)
Commitments at 31 March 2021
196,591
Commitments at 31 March 2021 are payable
as follows:
- Within one year
196,591
- After more than one year
-
196,591		 7
Retraining grants payable
Retraining grants payable comprise grants to professional dancers and ex-
dancers to assist them to retrain in their chosen field when their performing
career has come to an end through age or injury:
Unrestricted Independent Dancers Fund - Awards to 65 dancers (2020: 25)
Restricted Independent Dancers Fund - Awards to 6 dancers (2020: 5)
Designated Dance Companies Fund - Awards to 76 dancers (2020: 57)
Grants written back in the year
A list of grants payable is maintained at the registered office.
2021
Reconciliation of grants payable:
£
£
Commitments at 1 April 2020
213,087
Commitments made in the year
326,712
Grants payable for the year
539,799
Grants paid during the year
(278,706)
Grants written back in the year
(64,502)
Commitments at 31 March 2021
196,591
Commitments at 31 March 2021 are payable
as follows:
- Within one year
196,591
- After more than one year
-
196,591		 2021
£
98,518
19,823
208,371		 2020
restated
£
34,709
26,153
170,236
326,712
(64,502)		 231,098
(9,282)
262,210 221,816
£
190,006
231,098		 2020
£
421,104
(198,735)
(9,282)
196,591 213,087
196,591
-		 213,087
-
196,591 213,087

8 Related party transactions

Aggregate donations received from related parties were £10,834 for the year ended 31 March 2021 (2020: £12,500).

Other related party transactions are disclosed in note 6 to the financial statements.

There were no other related party transactions to disclose for 2021 (2020: None).

9 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objectives.

23

Dancers' Career Development Notes Forming Part of the Financial Statements For the Year Ended 31 March 2021

10
Tangible fixed assets
Cost or valuation
At 1 April 2020
Additions at cost
Disposals
At 31 March 2021
Depreciation
At 1 April 2020
Charge for year
Disposals
At 31 March 2020
Net book value
At 31 March 2021
At 1 April 2020
All of the above assets are used for charitable purposes.
11
Fixed asset investments
Market value at 1 April 2020
Additions at cost
Disposal proceeds
Net investment gains / (losses)
Market value at 31 March 2021
Cash held for re-investment
Historical cost at 31 March 2021
Listed investments are represented by:
COIF Charities Investment Fund Accumulation Units
The following represent more than 5% of the total market value of investments:
COIF Charities Investment Fund Accumulation Units		 2021
£
640,200
-
-
155,710		 Office and
computer
equipment
£
10,236
-
-
10,236
8,954
733
-
9,687
549
1,282
2020
£
640,490
-
-
(290)
795,910
-		 640,200
-
795,910 640,200
548,795 548,795
795,795 640,200
100%

24

Dancers' Career Development Notes Forming Part of the Financial Statements For the Year Ended 31 March 2021

12
Debtors
Contributions due from dance companies
Donations and grant funding receivable
Other accrued income
Prepayments and other debtors
13
Creditors: amounts falling due within one year
Grants payable (note 7)
Deferred income - Combined Theatrical Charities 2021/22
Pension contributions payable
Other tax and social security
Accruals		 2021
£
20,790
5,000
-
352		 2020
restated
£
41,501
6,000
550
4,030
26,142 52,081
196,591
50,000
1,151
158,248
16,186		 213,087
45,000
1,153
109,582
9,049
422,176 377,871

14 Creditors: amounts falling due after more than one year

Grants payable (note 7)

25

Dancers' Career Development Notes Forming Part of the Financial Statements For the Year Ended 31 March 2021

1 April
2020
restated
£
211,654		 Incoming
resources
£
166,437		 Outgoing
resources
£
(109,208)		 Investment
gains /
(losses)
£
49,600		 Transfers
between
funds
£
-		 31 March
2021
£
318,482
10,545
-
422,475		 -
75,000
236,851		 -
(74,750)
(305,760)		 -
-
96,117		 -
-		 10,545
250
449,682
433,020 311,851 (380,510) 96,117 - 460,477
644,673 478,288 (489,719) 145,717 - 778,960
23,088
33,049
-
6,097
37,636
-
-
12,632
8,000		 -
-
12,500
6,000
40,630
29,000
50,000
1,000
-		 -
-
(12,500)
(4,000)
(69,866)
(29,000)
-
(1,900)
(4,265)		 4,110
5,883
-
-
-
-
-
-
-		 -
-
-
-
-
-
-
-
-		 27,198
38,932
-
8,097
8,400
-
50,000
11,732
3,735
120,502 139,130 (121,531) 9,993 - 148,094

Bettine Goldberg Designated Fund

This fund represents the generous unrestricted legacy from the late Bettine Goldberg which has been designated to fundraising and providing awards in her memory for independent dancers.

Retraining and Careers Development Fund

This fund represents emergency funding gratefully received from Acting for Others, designated for dancers whose performance careers have been interrupted by the COVID-19 Pandemic.

Dance Companies Fund

This fund represents the fees paid by Dance Companies, less expenditure on their dancers' transitional support programmes. As explained in Note 25 these had previously been treated as restricted funds.

Leslie Edwards Bursary Fund

This fund represents a generous legacy received from the late Leslie Edwards to provide a bursary in his memory for an independent professional dancer in transition.

Mathew Winsten Bursary Fund

The late Mathew Winsten was a long time supporter and valued director of the Corporate Trustee of Dancers' Career Development. This fund represents his generous legacy to provide future bursaries in his memory for an independent dancer.

26

Dancers' Career Development Notes Forming Part of the Financial Statements For the Year Ended 31 March 2021

15 Movement in funds (continued)

Royal Opera House Benevolent Fund

This fund represents a generous donation from The Royal Opera House Benevolent Fund towards providing coaching and EVOLVE workshops for independent dancers across the UK.

Dancers Support Officer

This represents funding received from The Linbury Trust towards the annual salary of the Dancers Support and Programmes Officer role for independent dancers across the UK.

Director of Development

This fund represents a generous donation towards the annual salary for a new role of Director of Development within the charity.

IT Infrastructure Fund

This fund represents a grant received for The Clore Duffield Foundation for the improvement of IT hardware and infrastructure, in particular, upgrading of the charity's server and the purchase of new computer hardware.

Unrestricted Unrestricted
16 Analysis of net assets between funds general designated Restricted Total
funds funds funds funds
Fund balances at 31 March 2021 are
represented by: £ £ £ £
Tangible fixed assets 549 - 549
Fixed asset investments 303,830 428,993 63,087 795,910
Net current assets / (liabilities) 14,104 31,484 85,007 130,595
Net assets at the end of the year 318,482 460,477 148,094 927,054

17 Operating lease commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

Land and buildings
2021 2020
£ £
Expiry date:
Not later than one year 6,800 6,800

18 Capital commitments

At the balance sheet date the charitable company had no major capital commitments.

27

Dancers' Career Development Notes Forming Part of the Financial Statements For the Year Ended 31 March 2021

19 Pension scheme

The charity contributes to the stakeholder pension schemes of employees. Contributions payable are charged to the Statement of Financial Activities. The total cost of pensions incurred by the charity was £11,752 (2020: £12,817).

20 Reconciliation of net income / (expenditure) to net cash flow from Reconciliation of net income / (expenditure) to net cash flow from 2021 2020
operating activities £ £
Net income / (expenditure) for the reporting period
(as per the statement of financial activities) 161,878 15
Depreciation charges 733 1,013
(Gains) / losses on investment (155,710) 290
(Increase) / decrease in debtors 25,939 (18,811)
Increase in creditors 44,305 67,306
Net cash provided by / (used in) operating activities 77,146 49,813
1 April 31 March
2020 Cash flows 2021
21 Analysis of cash and cash equivalents £ £ £
Cash at bank and in hand 449,483 77,146 526,629
Cash held for reinvestment - - -
Total cash and cash equivalents 449,483 77,146 526,629

22 Transfer of charity funds and net assets

At midnight on 31 March 2017, Dancers' Career Development Trustee Limited (Company Number 2930531), as sole corporate trustee of The Independent Dancers' Resettlement Trust (Charity Number 327747), transferred its assets, liabilities and undertakings by Deed of Transfer, to this new charity, Dancers' Career Development, a company limited by guarantee registered in England and Wales (Company Number 10137622) and a registered charity (Charity Number 1168958) which has carried on its charitable activities from that date forwards. The company had no transactions prior to 31 March 2017.

23 Legal status of the charity

The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of a winding up is limited to £1.

28

Dancers' Career Development Notes Forming Part of the Financial Statements For the Year Ended 31 March 2021

24
Comparative Statement of Financial Activities
Income from:
Donations and legacies
Charitable activities
Transition support programmes:
Retraining grant making
Coaching, EVOLVE workshops and guidance
Other Support Programmes
Events
Investments
Total income
Expenditure on:
Raising funds and the profile of the charity
Charitable activities
Transition support programmes:
Retraining grant making
Coaching, EVOLVE workshops and guidance
Other Support Programmes
Total expenditure
Net income / (expenditure) before gains and
losses on investments
Net gains / (losses) on investments
Net income / (expenditure) for the year and
Net movement in funds for the year
Reconciliation of funds:
Transfers between funds
Total funds
Total funds brought forward
Prior year adjustment
Total funds brought forward (as restated)
Total funds carried forward		 Unrestricted
funds
restated
£
24,283
359,427
3,652
-
-
-
387,362
42,141
227,620
153,431
-
423,192
(35,831)
(270)
(36,101)
-
(36,101)
221,477
459,297
680,774
644,673		 Restricted
funds
restated
£
-
18,500
84,558
16,066
-
-
119,124
18,905
54,079
10,004
-
82,988
36,136
(20)
36,116
-
36,116
605,671
(521,285)
84,386
120,502		 2020
Total
funds
restated
£
24,283
377,927
88,210
16,066
-
-
506,486
61,046
281,699
163,435
-
506,180
305
(290)
15
-
15
827,148
(61,988)
765,160
765,175

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above.

29

Dancers' Career Development Notes Forming Part of the Financial Statements For the Year Ended 31 March 2021

2020
24 Comparative Notes Forming Part of the Unrestricted Restricted Total
Financial Statements funds funds funds
restated restated restated
£ £ £
Income from donations and legacies
Individual giving 23,619 - 23,619
Legacies receivable 664 - 664
24,283 - 24,283
Income from charitable activities
Contributions receivable from dance companies:
The Royal Ballet 108,835 - 108,835
English National Ballet 55,578 - 55,578
Birmingham Royal Ballet 39,899 - 39,899
Scottish Ballet 28,880 - 28,880
Northern Ballet 25,965 - 25,965
Rambert Dance Company 14,730 - 14,730
Richard Alston Dance Company 3,040 - 3,040
Combined Theatrical Charities 35,000 10,000 45,000
Equity Charitable Trust 45,000 - 45,000
Rudolf Nureyev Foundation - 6,000 6,000
Musical Ballet and Opera Trust - - -
Society of London Theatre - - -
Other 2,500 2,500 5,000
Sub-total for retraining grant making 359,427 18,500 377,927
Royal Opera House Benevolent Fund - 57,624 57,624
Linbury Trust - 26,934 26,934
BBC Young Dancer - - -
Coaching, Workshops & Guidance 3,652 - 3,652
Sub-total for coaching, EVOLVE workshops
and guidance 3,652 84,558 88,210
Clore Duffield Foundation - 8,000 8,000
Linbury Trust - 8,066 8,066
Sub-total for Other Support Programmes - 16,066 16,066
Total income from charitable activities 363,079 119,124 482,203
Income from investments
Dividends receivable from investments and
interest receivable from deposits - - -

30

Dancers' Career Development Notes Forming Part of the Financial Statements For the Year Ended 31 March 2021

Costs of
raising funds
and the profile
of the charity
£
45,200
-
-
-
-
-
-
2,186
1,704
-
-
-
-
-
-
-
-
-
-		 C haritable activitie s Governance
costs
£
24,120
-
-
-
-
-
-
-
-
-
-
-
74
-
-
2,000
-
-
-		 Overhead
costs of
the office
function
-
-
-
-
-
-
-
-
-
-
10,500
5,695
1,428
3,907
1,563
-
1,159
1,013
6,305		 2020
Total
funds
£
201,283
221,816
21,707
5,745
2,546
-
15,549
2,186
1,704
-
10,500
5,695
1,502
3,907
1,563
2,000
1,159
1,013
6,305
Retraining
grant
making
£
41,350
221,816
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Coaching,
EVOLVE
workshops
and guidance
£
90,613
-
21,707
5,745
2,546
-
15,549
-
-
-
-
-
-
-
-
-
-
-
-		 Other
Support
Programmes
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
49,090
5,374
6,582		 263,166
8,813
9,720		 136,160
12,528
14,747		 -
-
-		 26,194
4,855
(31,049)		 31,570
(31,570)
-		 506,180
-
-
61,046 -

31

Dancers' Career Development Notes Forming Part of the Financial Statements For the Year Ended 31 March 2021

24
Comparative Notes Forming Part of the Financial Statements
1 April
Incoming
Outgoing
Movement in funds
2019
resources
resources
restated
restated
restated
£
£
£
Unrestricted Funds
General Funds
200,839
110,435
(99,533)
Designated Fund:
Bettine Goldberg
29,045
-
(18,500)
Dance Companies Fund
450,890
276,927
(305,159)
Designated Funds
479,935
276,927
(323,659)
Total Unrestricted Funds
680,774
387,362
(423,192)
Restricted Funds
Independent Dancers
Leslie Edwards Bursary
23,096
-
-
Mathew Winsten Bursary
33,061
-
-
SOLT Bursary Fund
5,000
-
(5,000)
Acting for Others Bursary
-
10,000
(10,000)
Other Bursary Funds
3,097
8,500
(5,500)
Royal Opera House
Benevolent Fund
5,775
57,624
(25,763)
Dancers Support Officer
-
26,934
(26,934)
Other Coaching, EVOLVE
Workshops & Guidance
Funds
14,357
8,066
(9,791)
IT Infrasructure Fund
-
8,000
-
Total Restricted Funds
84,386
119,124
(82,988)
Total funds
765,160
506,486
(506,180)
Unrestricted
Analysis of net assets between funds
general
funds
Tangible fixed assets
1,282
Fixed asset investments
254,230
Net current assets / (liabilities)
(43,858)
Net assets at the end of the year
211,654
Analysis of cash and cash equivalents
Cash at bank and in hand
Cash held for reinvestment
Total cash and cash equivalents
Fund balances at 31 March 2020 are represented
by:		 24
Comparative Notes Forming Part of the Financial Statements
1 April
Incoming
Outgoing
Movement in funds
2019
resources
resources
restated
restated
restated
£
£
£
Unrestricted Funds
General Funds
200,839
110,435
(99,533)
Designated Fund:
Bettine Goldberg
29,045
-
(18,500)
Dance Companies Fund
450,890
276,927
(305,159)
Designated Funds
479,935
276,927
(323,659)
Total Unrestricted Funds
680,774
387,362
(423,192)
Restricted Funds
Independent Dancers
Leslie Edwards Bursary
23,096
-
-
Mathew Winsten Bursary
33,061
-
-
SOLT Bursary Fund
5,000
-
(5,000)
Acting for Others Bursary
-
10,000
(10,000)
Other Bursary Funds
3,097
8,500
(5,500)
Royal Opera House
Benevolent Fund
5,775
57,624
(25,763)
Dancers Support Officer
-
26,934
(26,934)
Other Coaching, EVOLVE
Workshops & Guidance
Funds
14,357
8,066
(9,791)
IT Infrasructure Fund
-
8,000
-
Total Restricted Funds
84,386
119,124
(82,988)
Total funds
765,160
506,486
(506,180)
Unrestricted
Analysis of net assets between funds
general
funds
Tangible fixed assets
1,282
Fixed asset investments
254,230
Net current assets / (liabilities)
(43,858)
Net assets at the end of the year
211,654
Analysis of cash and cash equivalents
Cash at bank and in hand
Cash held for reinvestment
Total cash and cash equivalents
Fund balances at 31 March 2020 are represented
by:		 24
Comparative Notes Forming Part of the Financial Statements
1 April
Incoming
Outgoing
Movement in funds
2019
resources
resources
restated
restated
restated
£
£
£
Unrestricted Funds
General Funds
200,839
110,435
(99,533)
Designated Fund:
Bettine Goldberg
29,045
-
(18,500)
Dance Companies Fund
450,890
276,927
(305,159)
Designated Funds
479,935
276,927
(323,659)
Total Unrestricted Funds
680,774
387,362
(423,192)
Restricted Funds
Independent Dancers
Leslie Edwards Bursary
23,096
-
-
Mathew Winsten Bursary
33,061
-
-
SOLT Bursary Fund
5,000
-
(5,000)
Acting for Others Bursary
-
10,000
(10,000)
Other Bursary Funds
3,097
8,500
(5,500)
Royal Opera House
Benevolent Fund
5,775
57,624
(25,763)
Dancers Support Officer
-
26,934
(26,934)
Other Coaching, EVOLVE
Workshops & Guidance
Funds
14,357
8,066
(9,791)
IT Infrasructure Fund
-
8,000
-
Total Restricted Funds
84,386
119,124
(82,988)
Total funds
765,160
506,486
(506,180)
Unrestricted
Analysis of net assets between funds
general
funds
Tangible fixed assets
1,282
Fixed asset investments
254,230
Net current assets / (liabilities)
(43,858)
Net assets at the end of the year
211,654
Analysis of cash and cash equivalents
Cash at bank and in hand
Cash held for reinvestment
Total cash and cash equivalents
Fund balances at 31 March 2020 are represented
by:		 24
Comparative Notes Forming Part of the Financial Statements
1 April
Incoming
Outgoing
Movement in funds
2019
resources
resources
restated
restated
restated
£
£
£
Unrestricted Funds
General Funds
200,839
110,435
(99,533)
Designated Fund:
Bettine Goldberg
29,045
-
(18,500)
Dance Companies Fund
450,890
276,927
(305,159)
Designated Funds
479,935
276,927
(323,659)
Total Unrestricted Funds
680,774
387,362
(423,192)
Restricted Funds
Independent Dancers
Leslie Edwards Bursary
23,096
-
-
Mathew Winsten Bursary
33,061
-
-
SOLT Bursary Fund
5,000
-
(5,000)
Acting for Others Bursary
-
10,000
(10,000)
Other Bursary Funds
3,097
8,500
(5,500)
Royal Opera House
Benevolent Fund
5,775
57,624
(25,763)
Dancers Support Officer
-
26,934
(26,934)
Other Coaching, EVOLVE
Workshops & Guidance
Funds
14,357
8,066
(9,791)
IT Infrasructure Fund
-
8,000
-
Total Restricted Funds
84,386
119,124
(82,988)
Total funds
765,160
506,486
(506,180)
Unrestricted
Analysis of net assets between funds
general
funds
Tangible fixed assets
1,282
Fixed asset investments
254,230
Net current assets / (liabilities)
(43,858)
Net assets at the end of the year
211,654
Analysis of cash and cash equivalents
Cash at bank and in hand
Cash held for reinvestment
Total cash and cash equivalents
Fund balances at 31 March 2020 are represented
by:		 Investment
gains /
(losses)
£
(87)		 Transfers
between
funds
restated
£
-		 31 March
2020
restated
£
211,654
29,045
450,890		 -
276,927		 (18,500)
(305,159)		 -
(183)		 - 10,545
422,475
479,935 276,927 (323,659) (183) - 433,020
680,774 387,362 (423,192) (270) - 644,673
23,096
33,061
5,000
-
3,097
5,775
-
14,357
-		 -
-
-
10,000
8,500
57,624
26,934
8,066
8,000		 -
-
(5,000)
(10,000)
(5,500)
(25,763)
(26,934)
(9,791)
-		 (8)
(12)
-
-
-
-
-
-
-		 -
-
-
-
-
-
-
-
-		 23,088
33,049
-
-
6,097
37,636
-
12,632
8,000
84,386 119,124 (82,988) (20) - 120,502
765,160 506,486 (506,180) (290) - 765,175
Unrestricted
general
funds
1,282
254,230
(43,858)		 Unrestricted
designated
funds
£
332,876
100,144		 Restricted
funds
£
-
53,094
67,408		 Total
funds
£
1,282
640,200
123,693
211,654 433,020 120,502 765,175
1 April
2019
£
399,707
(37)		 Cash flows
£
49,776
37		 31 March
2020
£
449,483
-
399,670 49,813 449,483

32

Dancers' Career Development Notes Forming Part of the Financial Statements For the Year Ended 31 March 2021

25 Prior year adjustment

During the year the charity was advised that the contributions from dance companies were unrestricted fees rather than restricted grants and therefore should also be subject to VAT. The financial statements have been amended to reclassify the dance companies fund as a designated unrestricted fund and include the income and related expenditure net of VAT and the net VAT due to HMRC as a creditor for the current year and as a prior year adjustment.

Reserves position
Funds previously reported
Provision for net VAT payable and interest
Transfer Dance Companies Fund from
restricted to unrestricted funds
Funds restated
Net income / (expenditure) as
previously reported
Adjustments on restatement
Reduction in income for VAT payable
Reduction in expenditure for VAT recovery
less interest payable
Net transfer of Dance Companies Fund from
restricted to unrestricted funds
Net adjustment
Net income / (expenditure) as restated
Impact on income and expenditure		 Unrestricted Restricted
31-Mar-20		 Total Unrestricted Restricted
01-Apr-19		 Total
£
214,282
(109,582)
539,973		 £
660,475
(539,973)		 £
874,757
(109,582)
-		 £
221,477
(61,988)
521,285		 £
605,671
(521,285)		 £
827,148
(61,988)
-
644,673 120,502 765,175 680,774 84,386 765,160
Unrestricted Restricted
31-Mar-20		 Total
£
(7,195)		 £
54,804		 £
47,609
(51,824)
4,231

18,688		 -
-
(18,688)		 (51,824)
4,231
-
(28,906) (18,688) (47,594)
(36,101) 36,116 15

33