Changing Dancers Lives
## **Dancers’ Career Development**
Registered charity Company Limited by Guarantee
## **Annual Report and Financial Statements**
**Year Ended 31 March 2022**
Charity number: 1168958 Company number: 10137622
**“I will forever be grateful to DCD for not only the financial support, but also for their encouragement and guidance during one of the most daunting periods of my adult life”**
**Musical Theatre Dancer and DCD Retraining Bursary Recipient**
**Dancers’ Career Development Annual Report and Financial Statements For the Year Ended 31 March 2022**
|**Contents**|Page|
|---|---|
|Reference and Administrative Information|1|
|Message from the Chair|4|
|Report of the Director/Trustees|5|
|Independent Examiner’s Report|15|
|Statement of Financial Activities|16|
|Balance Sheet|17|
|Statement of Cash Flows|18|
|Notes Forming Part of the Financial Statements|19|
**Dancers’ Career Development Annual Report and Financial Statements For the Year Ended 31 March 2022**
## **Reference and Administrative Information**
**Governing document: Charity number:** 1168958 **Company number:** 10137622
Memorandum and Articles of Association
## **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|
||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 2022**
## **Message from the Chair**
## **DCD is the charity that’s here for all dancers when they need us most – from every dance genre, every background, across the UK and at every career stage.**
This year has been one of continued development for DCD. As dancers continue to navigate the postpandemic landscape, DCD has continued to respond fearlessly and diligently, keeping dancers at the heart of our work. Alongside our important work with six national dance companies supporting their current and former dancers, **DCD supports all freelance and independent dancers in the UK.** We also this year piloted **a new programme for Hip Hop Artists, SHIFT, in partnership with ZooNation: The Kate Prince Company.**
Equality, Diversity and Inclusion continues to be at the forefront of everything we do. We were pleased this year to recruit 5 outstanding individual freelance artists to be part of our **first EDI working group** , alongside staff members and Rob Alexander, EDI Board Champion.
This year there has been particular development in our work with young dancers. We were delighted to deliver our partnership with English National Ballet School Trainee Programme for the second year and to launch a **brand new Mentoring programme** with final year students at The Royal Ballet School. Students are matched with DCD alumni who are excelling in a diverse number of career pathways. We have also continued our long standing partnership with **BBC Young Dancer.**
We were also pleased this year to cement our long standing relationship with **Dance Professionals Fund** . This partnership ensures that all dancers who do not qualify for support from our Partner Company Fund are able to apply for retraining support from both charities, **increasing the amount of money available to freelance and independent dancers.**
As DCD journeys towards its **landmark 50[th] Anniversary in 2023,** we will continue to be a listening organisation, designing and delivering dynamic and responsive programmes of support for all dancers in the UK.
Our programme of work is overseen by a dedicated Board of Trustees, who I would like to thank personally for all of their support. We are also grateful to members of our Grants Committee who continue to give their time and effort to assess the hundreds of applications for financial support we have received from dancers.
We have sadly said goodbye to our long standing Management Accountants, Clarity, this year. Chris Bush and his team have worked with DCD for a number of years and we thank them for their dedicated service. We also say goodbye to Ikram Hirse who leaves to pursue further education. We wish her well. We are pleased to welcome Chloe Jones to the newly created role of Programmes Administrator and Debbie Cowley as Administrative and Data Manager.
We are grateful to all 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, Judith Batchelor and Charles Glanville for their kind support this year.
This marks my last message as Chair of the Board of Trustees, as I step down from the role in December 2022. I am delighted that after a public recruitment campaign, **Nancy Glynn** has been appointed as my successor. I wish Nancy and all at DCD the very best as it continues its important work.
**Zoë van Zwanenberg** Chair 31 August 2022
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**Dancers’ Career Development Annual Report and Financial Statements For the Year Ended 31 March 2022**
## **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 2022 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 2022/23 in core areas, including Equality, Diversity and Inclusion; Dancer Support Programmes; Income Generation; Advocacy 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:
- One to One Support
- Workshops
- Networking
- Upskilling
- Financial Retraining Grants
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 benefit.
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**Dancers’ Career Development Annual Report and Financial Statements For the Year Ended 31 March 2022**
## **Achievements and Impact**
## **1. Equality, Diversity and Inclusion**
In 2021/22 we have continued our EDI journey. We were pleased to welcome 5 independent artists from diverse dance genres to join our first EDI working group. Through the year the group, which also includes the DCD Executive Director and two members of staff as well as the EDI Board Champion, have discussed a wide range of topics as well as producing a comprehensive SWOT analysis. The work and discussions will feed into the DCD EDI Action Plan 2023-2026. The chairmanship of the group is rotated and the Chair is invited to report directly to the Board of Trustees following each meeting.
A multitude of actions have been implemented as a direct result of feedback from the EDI working group, particularly improving accessibility of external communications including across social media platforms, as well as direct improvements to DCD in person events. We very much look forward to continuing our work with the working group in 2022/23.
## **2. Dancer Support Programmes**
The Programmes team have worked tirelessly to deliver responsive and dynamic programmes of the highest quality. Delivery in 2021/22 includes:
- DCD has supported over 2,000 professional dancers and dance students across the breadth of the UK. **Dancer participation across all charitable programmes continues to be higher than ever before.**
- DCD delivered the first in person
- workshop in 2 years with EVOLVE London. 18 dancers attended from across London and the South East **. EVOLVE London: Connect, Reframe, Inspire** was held in May 2022 at East London Dance new premises in Stratford, London. There were a host of inclusive measures put in place to ensure DCD support and to reach as many dancers as possible for this workshop, including travel bursaries for dancers with financial boundaries and a Quiet Space for those with neurodiverse needs.
- EVOLVE Digital: We have continued to deliver digital workshops that have been attended by 120 dancers. Speakers have included Ann Wixley, Executive Creative Director, Wavemaker Crystal Nicholls, Transformational Nutrition Coach.
- DCD has awarded over **£205,000 in career exploration and retraining grants to 74 professional dancers across the UK.**
- The DCD team of freelance coaches, led by Director of Coaching Isabel Mortimer, provided over 450 Personal and Career Coaching sessions, enabling dancers to continue moving forwards with their career plans.
- DCD Programme Managers have provided over 160 confidential consultations and reached an additional 25 dancers through a new series of short informal workshops called “What DCD can do for you”
- DCD have continued our partnership with ACT3 Psychology for a series of online training events “Skills for Living” reaching over 260 dancers in 2021/22.
- Beyond Dance Mentoring in partnership with Moving Ahead: A cohort of 20 dancers were matched with senior executives outside of dance.
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**Dancers’ Career Development Annual Report and Financial Statements For the Year Ended 31 March 2022**
- DCD’s partnership on the **ENBS Trainee Programme** for dance graduates continued for a second year. DCD alumni Trevor Schoenraad provided a Pilates Teacher Training Qualification in Mat Level 1 and 2 for 6 of the students in Term 2 who all successfully passed.
- DCD **Schools Programme** returned to in person delivery. DCD delivered workshops at English National Ballet School, The Royal Ballet School, Elmhurst and Laban across the year.
- DCD delivered a pilot mentoring programme with The Royal Ballet School for 3[rd] year students, matching 26 students with DCD alumni.
Plans for the forthcoming year include:
- **Equity across genres in all DCD programmes** – The Beyond Dance Mentoring programme will for the first time be opened to all freelance and independent artists in the UK, as well as partner company dancers.
- **Listening charity:** DCD will continue to actively listen to all dancers around their needs for career development and transition support. We will take time to embed learnings from the COVID-19 Pandemic into our thinking.
- **Accessibility of programmes:** We will continue to prioritise the accessibility of all DCD programmes to ensure all professional dancers feel able and welcome to access our support. We will continue to attract world class speakers to our programmes and take advantage of the opportunities digital delivery brings.
Image: Maiya Leeke. Contemporary Dancer. EDI working group member.
## **3. Advocacy**
2021/22 highlights include:
- **REACH Ambassadors:** DCD recruited a number of new dancer Ambassadors from across DCD partner companies. The cohort now also includes 3 successful Hip Hop artists from the SHIFT programme, in partnership with ZooNation: The Kate Prince Company.
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**Dancers’ Career Development Annual Report and Financial Statements For the Year Ended 31 March 2022**
- **Momentum Assembly:** An annual event for HR, Company Management and Medical staff from DCD’s Partner Companies to connect, collaborate and activate. One of the key themes that came up was the ways in which DCD and the Partner Companies can work together to better support dancers who are transitioning to management roles within the companies, and also how DCD can work more closely with the medical staff to equip them with the tools to talk about transition with dancers.
- **Digital:** In 2021/22 DCD were pleased to work closely with Studio Cowx on social media design and communications. Engagement levels across all platforms have increased substantially.
## **In 2022/23 our focus will be:**
- **Video content and updating the DCD website:** Working closely with Studio Cowx and DCD alumni Greig Cooke and Robert Gravenor, we will improve the efficiency and clarity of the DCD website. DCD will also focus on creating engaging video content of our work.
- **IOTPD:** The Board and Associates of the International Organization for the Transition of Professional Dancers (IOTPD) have voted unanimously to appoint Jennifer Curry, Executive Director of Dancers’ Career Development, as President. Jennifer succeeds Paul Bronkhorst, who also serves as the Executive Director of the Omscholing Dansers. Paul has served as President of the IOTPD for over a decade, succeeding Founding President Philippe Braunschweig.
## **4. 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 we have continued our work with a diverse and vibrant group of organisations across the UK and globally.
- **SHIFT:** We were delighted to work for the first time with ZooNation: The Kate Prince Company (ZooNation) to provide a paid opportunity for freelance Hip Hop dancers who wish to explore different career options beyond the stage. The three successful dancers in 2021 were, Conor
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**Dancers’ Career Development Annual Report and Financial Statements For the Year Ended 31 March 2022**
O’Kane, Isaac Our-Gnao and Vanessa Marina who will gain financial assistance, mentoring and coaching towards exploring options to support their career beyond the stage.
- **East London Dance:** We have continued our partnership with East London Dance, offering financial and pro bono support for the artists who form part of Ideas Tap.
Plans for the forthcoming year include:
- **Expanding our reach:** As part of our important EDI work, DCD will focus on expanding our reach across all genres of dance, focusing in particular on Hip Hop and South Asian Dance as part of the EDI Action Plan.
## **5. Income Generation**
DCD will continue to focus on income generation and warmly welcomed Abigail Walton to the role of Director of Development in October 2021.
Key highlights include:
- Securing multi year agreements from long-standing Trusts and Foundations to enable longer term planning.
- Attracting investment from new Trusts and Foundations including the Victoria Wood Foundation for the delivery of programmes for all artists.
- Submitting DCD’s first application to Arts Council England to be granted core funds as an Investment Principles Support Organisation. DCD will be notified of the outcome in October 2022.
Focus in 2022/23 will be:
- Cultivating Individual Giving programme at DCD including curating a mix of in person and digital events for current and prospective donors, including the continue development of the DCD giving platform.
- The formation of a Development Council to support the Director of Development in raising significant funds.
- Working towards DCD’s landmark 50[th] Anniversary in 2023, including planning of fundraising opportunities this milestone will afford.
## **Financial Review**
Total income for the year was £437,827 (2020/21 £617,418) of which £377,127 was unrestricted (2020/21 £478,288) and £60,700 was restricted income (2020/21 £139,130).
Total expenditure for the year was £599,636 (2020/21 £611,249) of which £506,743 was unrestricted (2020/21 £489,718) and £92,893 was restricted expenditure (2020/21 £121,531).
Total funds carried forward at 31 March 2022 was £857,803 (2020/21 £927,053), which was made up of unrestricted reserves of £734,659 (2020/21 £778,961) and restricted funds of £123,144 (2020/21 £148,094).
Income from partner dance companies amounted to £241,115. Other notable income streams included continued funding from Acting for Others of £50,000, support from The Royal Opera House Benevolent Fund equating to £49,700.
The market value of the investments amounted to £888,469 as at 31 March 2022 (2020/21 £795,910) and net investment gains were £92,559 (31 March 2021 £155,710).
Total expenditure on charitable activities during the year amounted to £506,101. This was expended on the charity’s dancer support programmes and was made up of £303,036 expended on Retraining Grant
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**Dancers’ Career Development Annual Report and Financial Statements For the Year Ended 31 March 2022**
Making and £185,589 expended on Coaching, EVOLVE workshops and guidance, and £17,476 on Other support programmes. Retraining grants payable amounted to £205,204.
Staff costs for the year were £212,823.
The movement in funds on the unrestricted independent dancers funds, the dance companies fund and the restricted independent dancers funds may be seen in note 15 to the financial statements.
## **Investment powers, policy and performance**
Investment performance during the year was as follows:
Net gains on investments: £92,559
The Market value at 31 March 2022 was £888,469.
The Investment Objectives as outlined in the investment policy are:
- 1) For Short and Medium Term Reserves the primary objective will be to preserve nominal capital with a minimum level of risk. Assets should be readily available to meet cash flow requirements.
- 2) For Long Term Reserves the primary objective is to achieve a total return, net of fees, in excess of inflation to protect the real value of the assets.
## **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 £279,119 at 31 March 2022.
The reserves as at 31 March 2022 were as follows:
|Unrestricted funds (including designated funds)|£734,659–includes free reserve of £279,119|
|---|---|
|Restricted funds|£123,144|
|**Total funds**|**£857,803**|
## **Grant making policy**
Key areas include:
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**Dancers’ Career Development Annual Report and Financial Statements For the Year Ended 31 March 2022**
- Eligibility Criteria – 8 years as a professional dancer, five years in the UK or with Contributing Companies. Applicants may also apply on medical grounds if they cannot fulfil this criteria due to injury/illness.
- DCD will provide a comprehensive list of what we do and do not fund to applicants and decision makers.
- All applications are submitted online.
- “10 year rule” – dancers must apply within 10 years of their last professional performance (introduced 2013)
- Maximum of 5 applications per dancer (introduced 2013). Each application that is turned down counts as one of the five.
- £10,000 available to dancers who have performed with the Contributing Companies for 5-9 years
- • £15,000 available to dancers who have performed with the Contributing Companies for 10 years + (introduced 2013)
- Applicants complete a comprehensive budget for the total cost of their retraining, but specify which parts they are asking for support from DCD with, and which other sources of funding they intend to use eg. Student loan, other charities, self-funding. The amount they are requesting from DCD would be the ‘applied for’ figure in the application paperwork.
- All grants are awarded at the discretion of the Grants Committee and funding cannot be guaranteed under any circumstances.
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 of Dancers’ Career Development**
The vision for DCD in 2022/23 is:
- Ensuring a team of employees, freelancers and volunteers aligned on culture, working practices and wellbeing.
- Equality, Diversity and Inclusion: DCD representative of whole dance community
- The Income achieved allows DCD to continue to meet current dancer need & progress on forecasted future need.
- Anchor in purpose: continue to deliver programmes to all dancers
- DCD as a valued and impactful contributor to the sector, aware of priorities in and beyond the creative space
- Evidenced based programming, decision making and robust impact reporting
## **Structure, governance and management**
## _Organisational structure_
The Director/Trustees are responsible for administering the charity and meet on average 4 times per year to agree strategic and policy matters and to review the operational performance of the charity. There are also three sub-groups: the Grants Committee, Audit and Risk Committee and Equality, Diversity and Inclusion Working Group.
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 other than the Programmes Administrator who is managed by the Programmes Manager: Inclusion and Impact Lead.
## _The Board of Trustees:_
The Board is made up of 12 Director/Trustees. The Board met six 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
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**Dancers’ Career Development Annual Report and Financial Statements For the Year Ended 31 March 2022**
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.
## _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.
## _Equality, Diversity and Inclusion Working Group:_
The Working Group met three times in the year, reporting to each subsequent Board meeting on its business. The objectives of the Working Group are: to co-create the DCD EDI Action Plan 2022-23; to contribute ideas, solutions, highlight successes and identify road-blocks/challenges around specific and identified EDI issues and how these feed into DCD’s programming, business planning and vision; to undertake horizon-scanning that may impact DCD’s delivery in Equality, Diversity and Inclusion and to offer DCD the opportunity to listen, seek views and respond to a wide variety of lived experiences and knowledge from the community we serve. The Working Group has a rotating Chair.
## **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 £14,251 for the year ended 31 March 2022. There were no other related party transactions to disclose for 2022.
## **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:
- The financial position and outlook of the charity;
- The National Minimum Wage and the Living Wage;
- The general economic outlook, cost of living indices and position of the not-for profit sector labour markets; and
- Any other relevant data and benchmarking information that can inform the review
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**Dancers’ Career Development Annual Report and Financial Statements For the Year Ended 31 March 2022**
Image: Ingrid Mackinnon. Movement Director, Choreographer, Educator, DCD Trustee.
Photo credit: Gabriel Mokake.
## **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:
- a quarterly review of the risk register;
- the establishment of policies, systems and procedures to mitigate those risks identified; and
- the implementation of procedures designed to minimise or manage any potential impact on the charity should those risks materialise.
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:
- The Executive Director meeting weekly with DCD Partner Company Senior Executives
- DCD recruited a new role of Director of Development in October 2021. This role will work to achieve a significant increase in voluntary income, with a focus on Individual giving and Trusts and Foundations.
- The Executive Director to work closely with Investments Managers and updating the Board of Trustees regularly on investment performance.
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**Dancers’ Career Development Annual Report and Financial Statements For the Year Ended 31 March 2022**
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: Poor investment income yield or capital loss due to market volatility.
Action taken to mitigate the risk: DCD sought independent and expert support to undertake a robust review process and as a result recruited new Investment Managers, CCLA in October 2016. DCD has an execution only agreement with CCLA, meaning DCD have discretion over the overall investment and CCLA have discretion of the management of the fund. DCD receives regular updates and reporting from CCLA. Given global market volatility, DCD has reviewed and feels the investments remain in a suitable vehicle.
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 was undertaken in 2021/22. The Board reviewed 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. This resulted in job title changes for all three members of the programmes team as well at the creation of a new role, Programmes Administrator. The role of Operations Manager was also reviewed and amended to Administrative and Data Manager. A full pay review for all staff members was also completed by the Director/Trustees.
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.
## **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 31 August 2022
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**INDEPENDENT EXAMINER'S REPORT TO THE DIRECTOR/TRUSTEES OF DANCERS' CAREER DEVELOPMENT**
I report to the charity trustees (Committee members) on my examination of the accounts of Dancers' 1 Career Development for the year ended 31 March 2022 which are set out on pages 16 to 34.
This report is made solely to the Director/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 Director/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 Director/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
31 August 2022
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**DANCERS' CAREER DEVELOPMENT**
## **STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 March 2022**
|**Unrestricted**
**Funds**
**Notes**
**2022**
**£**
**INCOME FROM:**
Donations and voluntary grants
2
**20,122**
Charitable activities - transition support programmes:
Retraining grant-making
3
**336,115**
Coaching, EVOLVE workshops
and guidance
3
**20,890**
Other support programmes
3
**-**
**TOTAL**
**377,127**
**EXPENDITURE ON:**
4
**67,334**
Charitable activities - transition support programmes:
Retraining grant-making
4
**292,301**
Coaching, EVOLVE workshops
and guidance
4
**129,632**
Other support programmes
4
**17,476**
**TOTAL**
**506,743**
**(129,616)**
Net gains/(losses) on investments
**85,316**
**(44,300)**
**RECONCILIATION OF FUNDS:**
TOTAL FUNDS BROUGHT FORWARD
_778,959_
**TOTAL FUNDS CARRIED FORWARD**
**734,659**
**£ **
**Net income/(expenditure)**
Net income/(expenditure) before
investment gains/losses
Raising funds|**Restricted**
**Funds**
**2022**
**£**
**-**
**11,000**
**49,700**
**-**
**60,700**
**26,201**
**10,735**
**55,957**
**-**
**92,893**
**(32,193)**
**7,243**
**(24,950)**
_148,094_
**123,144**
**£ **|**Total**
**Funds**
**2022**
**£**
**20,122**
**347,115**
**70,590**
**-**|_Total_
_Funds_
_2021_
_£_
_42,232_
_447,851_
_76,335_
_51,000_|
|---|---|---|---|
|||**437,827**|_617,418_|
|||**93,535**
**303,036**
**185,589**
**17,476**|_50,834_
_319,212_
_235,038_
_6,165_|
|||**599,636**|_611,249_|
|||**(161,809)**
**92,559**|_6,169_
_155,710_|
|||**(69,250)**
_927,053_|_161,879_
_765,174_|
|||**857,803**
**£ **|_927,053_
_£ _|
## **NOTES**
All income and expenditure derive from continuing activities.
The statement of financial activities includes all gains and losses recognised during the year.
Comparative figures are given in Note 19.
The annexed notes form part of these financial statements
16
**DANCERS' CAREER DEVELOPMENT (company limited by guarantee no. 10137622)**
## **BALANCE SHEET As at 31 March 2022**
||**Notes**|||**2022**|||_2021_|
|---|---|---|---|---|---|---|---|
|||**£**||**£**|_£_||_£_|
|**FIXED ASSETS**||||||||
|Tangible assets|10|||**816**|||_550_|
|Investments|11|||**888,469**|||_795,910_|
|||||**889,285**|||_796,460_|
|**CURRENT ASSETS**||||||||
|Debtors|12|**26,565**|||_26,141_|||
|Cash at bank and in hand||**426,088**|||_526,629_|||
|||**452,653**|||_552,770_|||
|**CREDITORS: amounts falling due**||||||||
|**within one year**|13|**(484,135)**|||_(422,177)_|||
|**NET CURRENT (LIABILITIES)/ASSETS**||||**(31,482)**|||_130,593_|
|**NET ASSETS**|||**£ **|**857,803**||_£ _|_927,053_|
|**FUNDS**||||||||
|Restricted funds|14|||**123,144**|||_148,094_|
|Unrestricted funds:||||||||
|Designated funds|14|**455,540**|||_460,477_|||
|General fund|14|**279,119**|||_318,482_|||
|||||**734,659**|||_778,959_|
||||**£ **|**857,803**||_£ _|_927,053_|
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
For the year ending 31 March 2022 the Charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
## Directors' responsibilities:
(i) The members have not required the Charity to obtain an audit of its accounts for the year in question in accordance with section 476;
(ii) The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The financial statements were approved, and authorised for issue, by the Director/Trustees on 31 August 2022 and signed on their behalf by:-
ZOË VAN ZWANENBERG, Chair
CHARLES GLANVILLE, Vice Chair
The annexed notes form part of these financial statements
17
**DANCERS' CAREER DEVELOPMENT**
## **CASH FLOW STATEMENT for the year ended 31 March 2022**
|**2022**
**Note**
**£**
**Net cash flow from operating activities:**
Net cash (used in)/provided by operating activities
17
**(99,631)**
Interest paid
**-**
Net cash (used in)/provided by operating activities (see below)
**(99,631)**
**Cash flows from investing activities:**
Purchase of tangible fixed assets
**(910)**
**_Net cash provided by investing activities_**
**(910)**
**Change in cash and cash equivalents in the reporting year**
**(100,541)**
**Cash and cash equivalents at 1 April**
**526,629**
**Cash and cash equivalents at 31 March**
**426,088**
**£ **
**Cash and cash equivalents consists of:**
Cash at bank and in hand
**426,088**
Cash held for reinvestment
**-**
Total cash and cash equivalents
**426,088**
**£ **|**2021**
**£**
_77,146_
_-_|
|---|---|
||_77,146_|
||**-**|
||_-_|
||_77,146_
_449,483_|
||_526,629_
_£ _|
||**526,629**
**-**|
||_526,629_
_£ _|
18
**DANCERS' CAREER DEVELOPMENT**
**NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2022**
## **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.
## **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.
- Donations are accounted for in the year in which they are received. Legacies are recognised as income when notified of the entitlement and the amount of the legacy can be quantified with reasonable accuracy.
- Contributions from participating dance companies are recognised in the statement of financial activities in the year in which the charity has entitlement to the income and when the amount of the income can be measured reliably and there is probability of receipt.
19
**DANCERS' CAREER DEVELOPMENT**
## **NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2022**
- Grants are recognised in full in the statement of financial activities in the year in which the charity has entitlement to the income and when the amount of the income can be measured reliably and there is probability of receipt.
- Investments are accumulation units in a pooled investment. Income arising is therefore reinvested and hence no investment income is recognised.
## **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.
- Costs of raising funds relate to the costs incurred by the charity in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising or profile raising purpose.
- Expenditure on charitable activities includes the costs of retraining grants and the costs of delivering programmes and projects undertaken to further the purposes of the charity and their associated support costs.
- Grants payable are charged to the statement of financial activities in the year in which the offers of such grants are conveyed to the recipients.
## **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 including the Dance Companies Fund (i.e. the unrestricted funds), 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. Investment gains/losses are then allocated to the Dance Companies Fund and the two legacy bursary funds according to these proportions, with the remainder allocated to the General fund.
## **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 (Support) costs of the central function, is apportioned in proportion to the staff costs allocated to that activity.
20
**DANCERS' CAREER DEVELOPMENT**
## **NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2022**
- Governance costs are the costs associated with the Governance arrangements of the charity. These costs are associated with constitutional and statutory requirements and include direct costs of independent examination, legal fees and any costs associated with the strategic management of the charity’s activities. They are treated as an integral part of Support costs.
## **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% (2021 - the same) 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.
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.
21
**DANCERS' CAREER DEVELOPMENT**
**NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2022**
## **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.
## **2. INCOME FROM DONATIONS AND VOLUNTARY GRANTS**
|Individual giving
Covid-19 #4Dancers Campaign|**Unrestricted**
**Funds**
**2022**
**£**
**20,122**
**-**
**20,122**
**£ **|**Restricted**
**Funds**
**2022**
**£**
**-**
**-**
**Nil**
**£**|**Total**
**Funds**
**2022**
**£**
**20,122**
**-**
**20,122**|_Total_
_Funds_
_2021_
_£_
_22,185_
_20,047_|
|---|---|---|---|---|
|||||_42,232_|
In the 2021 financial year all the income was unrestricted.
22
**DANCERS' CAREER DEVELOPMENT**
## **NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2022**
|**3.**|**INCOME FROM CHARITABLE ACTIVITIES**
**Unrestricted**
**Restricted**
**2022**
**Funds**
**Funds**
**2022**
**2022**
**£**
**£**
**Income for retraining grant making**
Contributions receivable from dance companies:
The Royal Ballet
**96,345**
**-**
English National Ballet
**46,579**
**-**
Birmingham Royal Ballet
**39,352**
**-**
Scottish Ballet
**26,535**
**-**
Northern Ballet
**25,206**
**-**
Rambert Dance Company
**7,098**
**-**
**241,115**
**-**
Grants:
Combined Theatrical Charities
**50,000**
**-**
Equity Charitable Trust
**45,000**
**-**
Royal Opera House Benevolent Fund
**-**
**-**
Rudolf Nureyev Foundation
**-**
**6,000**
Other
**-**
**5,000**
**Total for retraining grant making**
**336,115**
**11,000**
**Income for coaching, EVOLVE workshops and guidance**
Grants:
Royal Opera House Benevolent Fund
**-**
**49,700**
New Approaches
**2,500**
**-**
Linbury Trust
**-**
**-**
Earned income:
Graduate Programme
**14,050**
**-**
Coaching, Workshops & Guidance
**4,340**
**-**
**Total for coaching, EVOLVE workshops**
**20,890**
**49,700**
**Income for Other support programmes**
Grants:
Anonymous donation
**-**
**-**
Linbury Trust
**-**
**-**
**Total for Other Support Programmes**
**-**
**-**
Total income from charitable activities
**357,005**
**60,700**|**INCOME FROM CHARITABLE ACTIVITIES**
**Unrestricted**
**Restricted**
**2022**
**Funds**
**Funds**
**2022**
**2022**
**£**
**£**
**Income for retraining grant making**
Contributions receivable from dance companies:
The Royal Ballet
**96,345**
**-**
English National Ballet
**46,579**
**-**
Birmingham Royal Ballet
**39,352**
**-**
Scottish Ballet
**26,535**
**-**
Northern Ballet
**25,206**
**-**
Rambert Dance Company
**7,098**
**-**
**241,115**
**-**
Grants:
Combined Theatrical Charities
**50,000**
**-**
Equity Charitable Trust
**45,000**
**-**
Royal Opera House Benevolent Fund
**-**
**-**
Rudolf Nureyev Foundation
**-**
**6,000**
Other
**-**
**5,000**
**Total for retraining grant making**
**336,115**
**11,000**
**Income for coaching, EVOLVE workshops and guidance**
Grants:
Royal Opera House Benevolent Fund
**-**
**49,700**
New Approaches
**2,500**
**-**
Linbury Trust
**-**
**-**
Earned income:
Graduate Programme
**14,050**
**-**
Coaching, Workshops & Guidance
**4,340**
**-**
**Total for coaching, EVOLVE workshops**
**20,890**
**49,700**
**Income for Other support programmes**
Grants:
Anonymous donation
**-**
**-**
Linbury Trust
**-**
**-**
**Total for Other Support Programmes**
**-**
**-**
Total income from charitable activities
**357,005**
**60,700**|**Total**
**Funds**
**2022**
**£**
**96,345**
**46,579**
**39,352**
**26,535**
**25,206**
**7,098**
**241,115**
**50,000**
**45,000**
**-**
**6,000**
**5,000**|_Total_
_Funds_
_2021_
_£_
_97,459_
_39,220_
_36,916_
_26,215_
_24,750_
_12,291_|
|---|---|---|---|---|
|||||_236,851_
_145,000_
_45,000_
_10,000_
_6,000_
_5,000_|
||||**347,115**|_447,851_|
||||**49,700**
**2,500**
**-**
**14,050**
**4,340**
**70,590**
**-**
**-**
**-**
**417,705**|_40,630_
_-_
_29,000_
_5,100_
_1,605_|
||
Grants:
Royal Opera House Benevolent Fund
New Approaches
Linbury Trust
Earned income:
Graduate Programme
Coaching, Workshops & Guidance
**Total for coaching, EVOLVE workshops**
**Income for Other support programmes**
Grants:
Anonymous donation
Linbury Trust
**Total for Other Support Programmes**
Total income from charitable activities|
**-**
**2,500**
**-**
**14,050**
**4,340**
**20,890**
**-**
**-**
**-**
**357,005**|||
|||||_76,335_|
|||||_50,000_
_1,000_|
|||||_51,000_|
|||||_575,186_|
23
**DANCERS' CAREER DEVELOPMENT**
## **NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2022**
|_Unrestricted_
_2021_
_Funds_
_2021_
_£_
_Income for retraining grant making_
_Contributions receivable from dance companies:_
_The Royal Ballet_
_97,459_
_English National Ballet_
_39,220_
_Birmingham Royal Ballet_
_36,916_
_Scottish Ballet_
_26,215_
_Northern Ballet_
_24,750_
_Rambert Dance Company_
_12,291_
_236,851_
_Grants:_
_Combined Theatrical Charities_
_132,500_
_Equity Charitable Trust_
_45,000_
_Royal Opera House Benevolent Fund_
_10,000_
_Rudolf Nureyev Foundation_
_-_
_Other_
_5,000_
_Total for retraining grant making_
_429,351_
_Income for coaching, EVOLVE workshops and guidance_
_Grants:_
_Royal Opera House Benevolent Fund_
_-_
_Linbury Trust_
_-_
Earned income:
_Graduate Programme_
_5,100_
_Coaching, Workshops & Guidance_
_1,605_
_Total for coaching, EVOLVE workshops_
_6,705_
_Income for Other support programmes_
_Grants:_
_Anonymous donation_
_-_
_Linbury Trust_
_-_
_Total for Other Support Programmes_
_-_
Total income from charitable activities
_436,056_|_Restricted_
_Funds_
_2021_
_£_
_-_
_-_
_-_
_-_
_-_
_-_
_12,500_
_-_
_-_
_6,000_
_-_
_18,500_
_40,630_
_29,000_
_-_
_-_
_69,630_
_50,000_
_1,000_
_51,000_
_139,130_|_Total_
_Funds_
_2021_
_£_
_97,459_
_39,220_
_36,916_
_26,215_
_24,750_
_12,291_|
|---|---|---|
|||_236,851_
_145,000_
_45,000_
_10,000_
_6,000_
_5,000_|
|||_447,851_|
|||_40,630_
_29,000_
_5,100_
_1,605_|
|
_Grants:_
_Royal Opera House Benevolent Fund_
_Linbury Trust_
Earned income:
_Graduate Programme_
_Coaching, Workshops & Guidance_
_Total for coaching, EVOLVE workshops_
_Income for Other support programmes_
_Grants:_
_Anonymous donation_
_Linbury Trust_
_Total for Other Support Programmes_
Total income from charitable activities|||
|||_76,335_|
|||_50,000_
_1,000_|
|||_51,000_|
|||_575,186_|
24
**DANCERS' CAREER DEVELOPMENT**
## **NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2022**
|**4.**
**EXPENDITURE**
**Direct**
**costs**
**2022**
**£**
Raising funds
**3,344**
Charitable activities:
Retraining grant-making
**204,222**
Coaching, EVOLVE
workshops & guidance
**97,615**
Other support programmes
**9,192**
Support costs
**72,440**
**386,813**|**Staff**
**costs**
**£**
**47,233**
**51,749**
**46,072**
**4,338**
**63,431**
**212,823**|**Support**
**costs**
**£**
**42,958**
**47,065**
**41,902**
**3,946**
**(135,871)**
**-**|**2022**
**Total**
**£**
**93,535**
**303,036**
**185,589**
**17,476**
**-**
**599,636**|_2021_
_Total_
_£_
_50,834_
_319,212_
_235,038_
_6,165_
_-_|
|---|---|---|---|---|
|||||_611,249_|
Total staff and support Costs are shown respectively in Notes 5 and 9. Direct Retraining grant-making costs are shown in Note 7.
|**_2021_**
_Raising funds_
_Charitable activities:_
_Retraining grant-making_
_Coaching, EVOLVE_
_workshops & guidance_
_Other support programmes_
_Support costs_|_Direct_
_costs_
_£_
8,737
262,210
117,542
6,165
43,048
_437,702_|_Staff_
_costs_
_£_
29,998
39,199
91,327
-
13,023
_173,547_|_Support_
_costs_
_£_
12,099
17,803
26,169
-
(56,071)
_-_|_2021_
_Total_
_£_
_50,834_
_319,212_
_235,038_
_6,165_
_-_|
|---|---|---|---|---|
|||||_611,249_|
|**5.**
**STAFF NUMBERS AND COSTS**
Wages and salaries
Social security costs
Pension costs
Accountancy fees
Temporary staff|**2022**
**£**
**166,444**
**12,324**
**12,146**
**190,914**
**7,659**
**14,250**
**212,823**|_2021_
_£_
_140,813_
_9,742_
_11,752_|
|---|---|---|
|||_162,307_
_9,840_
_1,400_|
|||_173,547_|
One employee had employee benefits in excess of £60,000 during the year (2021 - None).
25
**DANCERS' CAREER DEVELOPMENT**
## **NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2022**
|Retraining grant making
Coaching, EVOLVE workshops and guidance
Other support programmes
Raising funds
Governance and support
The average monthly number of employees, calculated as full time
equivalents, during the year was as follows:|**Number**
2.0
1.8
-
1.7
0.6
**_6.1_**|_Number_
_1.7_
_1.6_
_-_
_1.3_
_0.5_|
|---|---|---|
|||_5.1_|
## **6. DIRECTOR/TRUSTEES AND KEY MANAGEMENT PERSONNEL**
The key management personnel of the charity comprise the Director/Trustees and the Executive director. The total employee benefits including pension contributions and employer national insurance contributions of the key management personnel were £64,720 (2021 - £56,458).
The charity trustees were not paid nor did they receive any benefits from the charity in the year (2021 - £Nil). 1 charity trustee was reimbursed expenses of £64 during the year. (2021 - no trustees received any expenses).
## **7.**
|**RETRAINING GRANTS PAYABLE**
Grants written back in the year
Unrestricted Independent Dancers Fund -
Awards to 29 dancers (2021 - 65)
Restricted Independent Dancers Fund -
Awards to 5 dancers (2021 - 6)
Designated Dance Companies Fund -
Awards to 40 dancers (2021 - 76)|**2022**
**£**
**41,662**
**10,000**
**153,542**
**205,204**
**(982)**
**204,222**|_2021_
_£_
_98,518_
_19,823_
_208,371_|
|---|---|---|
|||_326,712_
_(64,502)_|
|||_262,210_|
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. Some of the awards are funded from amounts given by the dancers' dance companies, some from funds given for specific dancers, while others are funded by the charity itself.
A list of grants payable is maintained at the registered office.
26
**DANCERS' CAREER DEVELOPMENT**
## **NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2022**
|**Reconciliation of grants payable:**
Commitments at start of year
Commitments made in the year
Grants payable for the year
Grants paid during the year
Grants written back in the year
Commitments at end of year
Commitments at end of year are payable as follows:
- Within one year|**2022**
**£**
**196,591**
**205,204**
**401,795**
**(226,705)**
**(982)**
**174,108**
**174,108**|_2021_
_£_
_213,087_
_326,712_|
|---|---|---|
|||_539,799_
_(278,706)_
_(64,502)_|
|||_196,591_|
|||_196,591_|
## **8. RELATED PARTY TRANSACTIONS**
Aggregate donations received from related parties amounted to £14,251 (2021 - £10,834); none of these donations had conditions attached which would, or might, require the Charity to significantly alter the nature of its existing activities. Other related party transactions are disclosed in Notes 5 and 6. There were no other related party transactions to disclose for the year (2021 - the same.)
|**9.**
**DIRECT SUPPORT AND GOVERNANCE COSTS**
Governance costs:
Independent examiner's fees:
Legal and professional fees
Diversity and inclusion
Total governance costs
Rent and rates
**6,950**
Depreciation of office and computer equipment
Telephone and broadband
**1,540**
IT and website costs
**2,509**
Staff CPD and human resources
**2,945**
Training - staff life coaching
**4,900**
Trustee expenses
**64**
Sundry expenses
**#VALUE!**
Irrecoverable VAT, interest on VAT liability and late filing
penalty (see Note 13)|**2022**
**£**
**2,850**
**16,619**
**-**
**19,469**
**6,950**
**644**
**1,540**
**2,509**
**2,945**
**4,900**
**64**
**26,464**
**6,955**
**72,440**|_2021_
_£_
_1,700_
_7,334_
_4,000_|
|---|---|---|
|||_-_
_9,950_
_733_
_1,733_
_2,928_
_7,095_
_1,790_
_-_
_-_
_5,785_|
|||_43,048_|
Support costs and governance costs are allocated to activities on the basis of estimates of the proportion of time spent by staff on those activities.
27
**DANCERS' CAREER DEVELOPMENT**
## **NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2022**
## **10. TANGIBLE FIXED ASSETS - OFFICE AND COMPUTER EQUIPMENT**
|**Cost**
At 1 April 2021
Additions
At 31 March 2022
**Depreciation**
At 1 April 2021
Charge for the year
At 31 March 2022
**Net book value**
At 31 March 2021
At 31 March 2022
**11. FIXED ASSET INVESTMENTS**
**2022**
**£**
Market value at start of year
**795,910**
Additions at cost
**-**
Disposal proceeds
**-**
Net investment gains / (losses)
**92,559**
Market value at end of year
**888,469**
Historical cost at end of year
**548,795**
Listed investments comprise COIF Charities Investment Fund Accumulation Units.
**12. DEBTORS**
**2022**
**Due within one year**
**£**
Contributions due from dance companies
**14,775**
Donations and grant funding receivable
**2,625**
Accrued income
**9,165**
**26,565**|**Office and**
**computer**
**equipment**
**£**
**10,237**
**910**|
|---|---|
||**11,147**|
||**9,687**
**644**|
||**10,331**|
||_550_
_£ _|
||**816**
**£ **|
||_2021_
_£_
640,200
-
-
155,710|
||_795,910_|
||_548,795_|
||_2021_
_£_
_20,790_
_351_
_5,000_|
||_26,141_|
28
**DANCERS' CAREER DEVELOPMENT**
## **NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2022**
|**13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Accounts payable
Grants payable (see Note 7)
Other tax and social security (see below)
Pension contributions payable
Other creditors
Accruals
Deferred grant income (see below)|**2022**
**£**
**16,125**
**174,108**
**220,609**
**1,206**
**3,777**
**6,310**
**62,000**
**484,135**|_2021_
_£_
_-_
_196,591_
_158,248_
_1,151_
_-_
_16,187_
_50,000_|
|---|---|---|
|||_422,177_|
As explained in last year’s accounts the charity needed to register for VAT following advice on the VAT status of dance company contributions. The net VAT due was paid after the year end and is included within Other tax and social security above.
|Deferred grant income
Balance at start of year
Amount released to incoming resources
Amount deferred in the year
Balance at end of year|**50,000**
**(50,000)**
**62,000**
**62,000**|_45,000_
_(45,000)_
_50,000_|
|---|---|---|
|||_50,000_|
29
**DANCERS' CAREER DEVELOPMENT**
## **NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2022**
## **14. STATEMENT OF FUNDS**
|**STATEMENT OF FUNDS**|||||
|---|---|---|---|---|
|**2022**
**UNRESTRICTED FUNDS**
General fund
**Designated funds**
Bettine Goldberg
Retraining and
careers development
Dance Companies Fund
Total designated funds
**Total unrestricted funds**
_2021_
**_UNRESTRICTED FUNDS_**
_General fund_
**_Designated funds_**
_Bettine Goldberg_
_Retraining and_
_careers development_
_Dance Companies Fund_
_Total designated funds_
_Total unrestricted funds_
**2022**
**RESTRICTED FUNDS**
Leslie Edwards Bursary
Mathew Winsten Bursary
Associated Dance
Companies Bursary Fund
Other bursary funds
Royal Opera House
Benevolent Fund
Director of Development
Other Coaching, EVOLVE
workshops &
guidance funds
IT Infrastructure Fund|**Brought**
**Forward**
**£**
**318,482**|**Incoming**
**resources**
**£**
**106,012**|**Resources**
**Investment**
**expended gains/(losses)**
**£**
**£**
**(181,439)**
**36,064**|**Carried**
**Forward**
**£**
**279,119**|
||**10,545**
**250**
**449,682**
**460,477**
**778,959**
**Brought**
**Forward**
**£**
_211,653_
_10,545_
_-_
_422,474_
_433,019_
_644,672_
**Brought**
**Forward**
**£**
**27,198**
**38,932**
**-**
**8,097**
**8,400**
**50,000**
**11,732**
**3,735**
**148,094**|**-**
**30,000**
**241,115**
**271,115**
**377,127**
**Incoming**
**resources**
**£**
_166,437_
_-_
_75,000_
_236,851_
_311,851_
_478,288_
**Incoming**
**resources**
**£**
**-**
**-**
**5,000**
**6,000**
**49,700**
**-**
**-**
**-**
**60,700**|**(5,555)**
**-**
**(24,645)**
**-**
**(295,104)**
**49,252**
**(325,304)**
**49,252**
**(506,743)**
**85,316**
**Resources**
**Investment**
**expended gains/(losses)**
**£**
**£**
_(109,208)_
_49,600_
_-_
_-_
_(74,750)_
_-_
_(305,760)_
_96,117_
_(380,510)_
_96,117_
_(489,718)_
_145,717_
**Resources**
**Investment**
**expended gains/(losses)**
**£**
**£**
**-**
**2,979**
**-**
**4,264**
**(5,000)**
**-**
**(4,000)**
**-**
**(42,225)**
**-**
**(26,201)**
**-**
**(11,732)**
**-**
**(3,735)**
**-**
**(92,893)**
**7,243**|**4,990**
**5,605**
**444,945**|
|||||**455,540**|
|||||**734,659**|
|||||**Carried**
**Forward**
**£**
_318,482_|
|||||_10,545_
_250_
_449,682_|
|||||_460,477_|
|||||_778,959_|
|||||**Carried**
**Forward**
**£**
**30,177**
**43,196**
**-**
**10,097**
**15,875**
**23,799**
**-**
**-**|
|||||**123,144**|
30
**DANCERS' CAREER DEVELOPMENT**
## **NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2022**
|_Brought_
_2021_
_Forward_
_£_
**_RESTRICTED FUNDS_**
_Leslie Edwards Bursary_
_23,088_
_Mathew Winsten Bursary_
_33,049_
_Acting for Others Bursary_
_-_
_Other Bursary Funds_
_6,097_
_Royal Opera House_
_Benevolent Fund_
_37,636_
_Dancers support officers_
_-_
_Director of Development_
_-_
_Other Coaching, EVOLVE_
_workshops &_
_guidance funds_
_12,632_
_IT Infrastructure Fund_
_8,000_
_120,502_
**SUMMARY OF FUND MOVEMENTS**
_Brought_
**2022**
_Forward_
_£_
**Unrestricted funds**
**778,959**
**Restricted funds**
**148,094**
**927,053**
**£ **
_2021_
_Unrestricted funds_
_644,672_
_Restricted funds_
_120,502_
_765,174_
_£ _|_Incoming_
_resources_
_£_
_-_
_-_
_12,500_
_6,000_
_40,630_
_29,000_
_50,000_
_1,000_
_-_
_139,130_
_Incoming_
_resources_
_£_
**377,127**
**60,700**
**437,827**
**£ **
_478,288_
_139,130_
_617,418_
_£ _|_Resources_
_Investment_
_expended gains/(losses)_
_£_
_£_
_-_
_4,110_
_-_
_5,883_
_(12,500)_
_-_
_(4,000)_
_-_
_(69,866)_
_-_
_(29,000)_
_-_
_-_
_-_
_(1,900)_
_-_
_(4,265)_
_-_
_(121,531)_
_9,993_
_Resources_
_Investment_
_expended gains/(losses)_
_£_
_£_
**(506,743)**
**85,316**
**(92,893)**
**7,243**
**(599,636)**
**£**
**92,559**
**£ **
_(489,718)_
_145,717_
_(121,531)_
_9,993_
_(611,249)_
_£_
_155,710_
_£ _|_Carried_
_Forward_
_£_
_27,198_
_38,932_
_-_
_8,097_
_8,400_
_-_
_50,000_
_11,732_
_3,735_|
|---|---|---|---|
||||_148,094_|
||||_Carried_
_Forward_
_£_
**734,659**
**123,144**|
||||**857,803**
**£ **|
||||_778,959_
_148,094_|
||||_927,053_
_£ _|
## **Fund descriptions**
## a. Unrestricted funds
## _General fund_
The General fund represents income and expenditure not designated or restricted for a specific purpose.
## b. Designated funds
## _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 (Combined Theatrical Charities), designated for dancers whose performance careers have been interrupted by the COVID-19 Pandemic.
31
**DANCERS' CAREER DEVELOPMENT**
## **NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2022**
## _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.
## c. 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.
## _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 represented 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 from 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. The fund was fully spent during the year.
## **15. ANALYSIS OF NET ASSETS BETWEEN FUNDS**
|**2022**
Tangible fixed assets
Fixed asset investments
Net current assets/(liabilities)|**Unrestricted Funds**
**General**
**Designated**
**fund**
**funds**
**£**
**£**
**816**
**-**
**346,179**
**472,765**
**(67,876)**
**(17,225)**
**329,277**
**455,540**|**Restricted**
**funds**
**£**
**-**
**69,525**
**53,619**
**123,144**|**Total**
**funds**
**£**
**816**
**888,469**
**(31,482)**|
|---|---|---|---|
||||**857,803**|
32
**DANCERS' CAREER DEVELOPMENT**
## **NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2022**
|_Unrestricted Funds_
_2021_
_General_
_Designated_
_fund_
_funds_
_£_
_£_
Tangible fixed assets
_550_
_-_
Fixed asset investments
_303,829_
_428,993_
Net current assets/(liabilities)
_14,102_
_31,485_
_318,483_
_460,478_
**16. OPERATING LEASE COMMITMENTS**
Not later than one year
**17. RECONCILIATION OF NET INCOME/(EXPENDITURE)**
**TO NET CASH FLOW FROM OPERATING ACTIVITIES**
Depreciation charges
Investment gains
(Increase)/decrease in debtors
Increase in creditors
Net cash (used in)/provided by operating activities
Total future minimum lease payments under non-cancellable operating
leases for each of the following periods are as follows:
Net (expenditure)/income for the reporting period (as
per the Statement of Financial Activities)|_Restricted_
_funds_
_£_
_-_
_63,088_
_85,006_
_148,094_
**2022**
**£**
**3,475**
**2022**
**£**
**(69,250)**
**644**
**(92,559)**
**(424)**
**61,958**
**(99,631)**|_Total_
_funds_
_£_
_550_
_795,910_
_130,593_|
|---|---|---|
|||_927,053_|
|||_2021_
_£_
_6,800_|
|||_2021_
_£_
_161,879_
_733_
_(155,710)_
_25,939_
_44,305_|
|||_77,146_|
## **18. 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.
33
**DANCERS' CAREER DEVELOPMENT**
## **NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2022**
## **19. COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES**
|_Notes_
**INCOME FROM:**
Donations and voluntary grants
_2_
Retraining grant-making
_3_
Coaching, EVOLVE
workshops
and guidance
_3_
Other support programmes
_3_
**TOTAL**
**EXPENDITURE ON CHARITABLE ACTIVITIES**
4
Charitable activities - transition support programmes:
Retraining grant-making
4
Coaching, EVOLVE
workshops
and guidance
4
Other support programmes
4
**TOTAL**
Net gains/(losses) on investments
13
**RECONCILIATION OF FUNDS:**
TOTAL FUNDS BROUGHT FORWARD
**TOTAL FUNDS CARRIED FORWARD**
Charitable activities:
Raising funds
Net income/(expenditure)
**Net income/(expenditure)**|_Unrestricted_
_Funds_
_2021_
_£_
_42,232_
_429,351_
_6,705_
_-_
_478,288_
_35,198_
_299,903_
_154,617_
_-_
_489,718_
_(11,430)_
_145,717_
_134,287_
_644,674_
_778,961_
_£ _|_Restricted_
_Funds_
_2021_
_£_
_-_
_18,500_
_69,630_
_51,000_
_139,130_
_15,636_
_19,309_
_80,421_
_6,165_
_121,531_
_17,599_
_9,993_
_27,592_
_120,502_
_148,094_
_£ _|_Total_
_Funds_
_2021_
_£_
_42,232_
_447,851_
_76,335_
_51,000_|
|---|---|---|---|
||||_617,418_|
||||_50,834_
_-_
_319,212_
_235,038_
_6,165_|
||||_611,249_|
||||_6,169_
_155,710_|
||||_161,879_
_765,176_|
||||_927,055_
_£ _|
## **NOTES**
All income and expenditure derive from continuing activities.
The statement of financial activities includes all gains and losses recognised during the year.
34