Company number 04342933 Charty numbei 1169593 Akram Khan Dance Company (Limited by Guarnnlee Report and Flnan¢lal Slatements lor the year ended 31 March 2022 •AB)S84E8* 2W1212022 CrPANIEs HOUSE A12
73
Breckman & Company Ltd Chartered Certified Accountants 49 South Molton Street London W1 K 5LH
Akram Khan Dance Company (Llmited by Guaranlee) Contents Page RelererTh and Administrative Oelails Trustees. Report 3- 11 Auditors. ReFK)rt 12-14 Statement ol Financial Activilies {inchJdiry Income and ExpendTture Account) 15-19 Balance Sheet Cash Flow Statement .21 Noles to the Financial Slatements 22-30
Akram Khan Dance Company {Limiled by Guarantee) Relerence and P4lministrative Details Constitution The charitable company is a private company limited by guarantee regislered in EW - EnglaTrY and Wales, company number 04342933 ineorwiated under the Companies Aci and ils governing document is its Memoiandum and Articles ol Ass¢xialKJn. The Company is a regisiered charity, number 1169593. Dirn¢tors and irustees The directors ol the.chariiable Company IAkram Khan Dance Company) are its trustees lor the purwse ol charity law and throughout this rep)rt are collectively referred to as ihe trustee5. Policiès and procedures adopted lor the induction and training of Iruslees are orwing and incorporated indirectly into the regular trustees meetings. The Iruslees during the year and since the year end. were - Anais Aguerre Gurnek Bains (Chairl Emma Christina Bir¢hall aA)oinled 16 September 2022 Victoria Leann8 Brown apFX)inled 16 Septemtér 2022 Anita Kirpal aFpoinled 17 June 2022 Michael Cohen resigned 16 September 2022 Paul De Quincey resrgned 24 Seplen7ber 2021 Nicole Newman Turner Mary O'Reilly Dipali Sahni Jeremy Shakertey Denis Shalranik Rick Wentworth Sectary Jane TaOr-HOlmeS Artistic Director Akram Khan Produclng Director Farooq Chaudhry Day to day managemenl Jan Hart {FIna Director) Isabel Tamen (Exec1ve Director)
Akram Khan Dance Company (Limlled by Guaranlee) Relerence and Administrative Details Audltors Breckman & Company Ltd, Chartered Corttlied Acwjntsnts. 49 South Morton Slreet, Lonth)n Wl K 5LH. Bankers HSBC, 25 Islington High Street. London N19LJ. SolieitOTS Bates Wglls. 10 Queen Sireel Place, London EC4 1 BE. Reglstered offl¢e and operation address Somersei House, West Wing, Strand. London WC2R 1 LA.
Akram Khan Dan Company {Limited by Guarantee) Trustees. report The Twslees present their annual report together with the financial statements of the charity for the year ended 31 March 2022 which are also prepared lo rrtet the requirements for a Directors. report and accounts for Companies Act purposes. The reference and administrative details set out on pages 1 and 2 form part of Ihis report. The financial statement5 comply with Charities Act 2011. the COmpanS Act 2006, the Memorandum and ArtleS of ASS(latiOn and Accounting and Reporb"ng by Charilie5." Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of IreLand IFRS 1021. Objectives and activities Since Akram Khan Company {AKC) was founded over twenty years ago, our uncompfomising commitnI to excellence, innovation. diversity and artistic rFsk has positioned us as one of the most inflvential and successful dance companies in the UK and the worfd. Our productions range frorn kalhak and modern sotos to arbst-to-arh.sl collaborations and ensemble works. A milestone in the Cornpany's journey was the Cfealion of a section of the London Otympic Games Opening Ceremony in 2012, performed by Akram and fity dancers and seen by over billion people worklwide. In recent years, we created high-quality famity and children-friendty versions of our larger proyucb'ons. which have had tremendous UK and global success in nurturing an appwiation of dance by younger audiences. The Company was founded In 2000 by dancerlchoreographer Akram Khan (British born of Bangladeshi deSntI and producer Farooq Chaudhry Ibom in Pakistzn, raised In the UK). As South Asian men who have straddled t0 worfds throu9hout their personal and professional lives, they have transcended cultural labelling and, as a consequen. created contemporary dance work that champions vniveTsalism..What matters is'story and not colour, and, fuTther stsll, 'my story is your story,. Our success has been achieved through the combination of dual leadership, unflinching artistic ambition and entpreneUr1al busness acumen, and we continue lo buikl on excellence, universal appeal and experimentation. We Wofk across disciplines with an intemat)nal team of the best professionals at all levels- artists. technicians and admhnistrators. We lake risks, think big, explore the unfamiliar. avoid compromise and tell stories through dance that are compelling and relevant, with arttsts"c integrty. The objects for which the Company 15 esta1Shed, a5 sel out in the goveming documenL are. To advance the arts and cutture for the benefit of the ger¢eral public by promoting. in the UK and internationally. Modem dance and olher art foms including, without limitation. films and music, with partuilar. bul not exclusive. reference to touring performance5 and to the work of Akram Khan, and To advance the education of young people, dance prac11tnerS and the general publ. with particular refence to the arb.slic work of the Chanty, parb"cularly, bul nol exclusivety, through the provision of workshops, classes and perf0mlans. The purpose and aims of Akram Khan Dance Company are intended for the benefft of the publtc. The Company engages the public through the creation and public performances of high quality. culturally relevant arh"sti¢ work. and through education and a¢y projects. In shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commi55ion's guidance on public benefil. including Ihe guidance 'pL*bli¢ nefit.. running a charity IPB21.
Akrarn Khan Dance Company (Limited by Guarantee) Tru5tees' re Achlevements and perfomiance The Company's inlemalional touring remit was unfortunately, like many other arts organisations. somewhat affe¢te(l in the 2021122 financial year Oue lo the COVID-19 pandemic. We had planned to deliver 173 perfomances intemationally across four productions through year. bul unfortunately we were forced to cancel or postpx)ne over half of them." a total of 91 performances across 63 venues were cancelled due to the pandemr. Thankfulty 47% of planned perfomwnces We still able to go ahead and the Company delivered a totsl of 82 perfOrmanS across 38 venues in 16 countries within the year, aChIng over 35.000 people 9lobally. XENOS-there were 9 performances across 3 venues thIn theyear- 18 perfoThan¢eswere cancelled and some We poslFA)ned to 2022123. Ouhvitting Ihe Devil- there were 27 perfornianS across 16 venues within the year- 28 perfomanS were Cancelled and some were pjstponed lo 2022123. Chotto Xenos - there were 46 performances across 19 venues within the year. The were 41 performance cancellatK)ns, but thankfully many of these were postponed lo 2022123. Ka8sh {R6vival)- 4 performances were carelled at the Southbank Centre in April 2021 and postp)ned to 2022123. Akfam Continued lo litsnse hts choreographic work to other professional and student companes through hi5 personal cornpany. KARAS- increasing the reach of his work beyond the Company's realm. He continued lo work with English National Ballet to restage Dust and Giselle with Ballet companies globally and Creature was rerTrJunted on Flanders Ballet as part of a co-producb.on agreement. However, the premiere of Creature scheduled wrthin the 2021122 financial year had to be postponed to January 2023 due lo COVID-19. Akiam continued lo be an Ambassador for Sky Arts. L¢gaGy projecls Workshop programme We delivered 124 workshops engaging wrth 1.524 participants around the wodd including 424 participants in the UIQ It represents an in¢aSe of 144% in the numL*f of people we engaged with compared to the year 2020-2021. Creative Learning AKC teamed up with EIF following the streaming of Chotto Xenos The Film and offered 4 CPD se55i0ns delivered online lo Scoth'sh Primary School Teacher5 based on the comprehensive Chotto Xenos Resource Pack. Approximately 150 teacher5 Scotb"5h teacher5 and 2 875 ils have engaged with Chotto Xenos the Film. Haryis Theater- Memories of the Future This project was a pilot for a co<realed engagement project. 11 was a collaboration beeen 5 partne AKC, Harris Theater. Dee l Rooted Dance Thealer. Erm Skcx)l & READI ro ramme. The 10-week enrichment programme used fap and movement to invrte the men seNed by the READI programme lo explore their personal stories and emwwer them. READI is a rehabilitatn programme combining CBT and work placement offering an aiiemative to a community of black men exposed to gun violence in the South Side of Chicago.
Akram Khan Dante Company {Limited by Guarantee) Trustee5' report VERVE. Youth Company of Northem School of Contemporary Dance- Vertical Road transmission and tour Koka Efthymiadou led the transmission process of the restaging otan excerpt ofvertical Road between November 2021 and January 2022. The work premiered in March 2022. After a few years of negotiation and discussions with NSCD, this project finally happened in part thanks to AKC subsidizing the costume making and costume license lee Iwhith accounts for more than half of the total budgell. The costLtmes will be retumed to AKC after the tour and can be used for other similar reslaging with schools. Artisl Development Programme Ifunded by Sky Arts) In his role as Sky Arts Ambassadof, Akram together with the Company have developed an Artist- development programrne to provide support and mentoring to Ihree UK-b8sed dan artists This 6- mnth programme gave them the rare opportunity lo invesligale stories and themes from their own work as part of a SearCh & development {R&DI phase, before delving into their creative process. We measure the value of R&D and we are aware that allocabng resource for this is a rarity in the performing art5 world, especially in these ojffenl times. Throughout a meaningfvl and thorough approach, the programme provided financial subsidy {£6,000 per artist)." shadowing and observation opportunrties in the studio with Akram and his creative team", one-to-one mentoring sessions with Akram and the AKC team., collects.ve sessions lo encourage shared pract aThJ FYofessK)nal netsvorking," financial support to attend these collective sessKJns. We celebrated the entj of the Frfogramme by an intim*e presentation of the 6-month process of the 3 artists with the screening of the documentstion film procluced by Maxime Dos and Céline Gaubert followed by a nverSatIon with Mavin Khw and an open Q&A with invited pSenter5 and artists. Dlgltal engagement Following the success of the Company's engagement during the pandemic period. we have continued lo develop a strong visual idenlty and online presenc£ as we have entered the post-pandenNc wortd. Tres a&sin Humanit - Jul 2021 Confronted with a tragic second wave of the pandemic, the heartbreaking challenges that India faced were critKal. Whilst medkg coverage focused on urban ctties. the outbreak that had spread through villages and marginalised communitEs were undocumented. In response, we came together to create and premiere a carefully-crafted film. Trespassing Humanily. to urgently raise funds for those who were lea51 cared for. Much of the campajgn consisted of unveiling snippets of this poetic cOnrt across all our social media channels to ftjrther encourage donations - 1 Ok views on YouTube across 18 videos (from July 21 March 221 and on Inslagram 90k views wrth almost 17k likes. With 539 generous donations. we ratsed a lotal of $19.032 hiqhlighting the generosity of okj and new friends of AKC. As a result ofihe campaign, we saw an improvemenlon perfomance across our social media channels. From 1-31 July 2021. on Instagram, impressions were up at 519.348 {165%) and reach 324,7171144%) on the last period, with 18,82411300hl likes and 311 {393%1 comments. On Face0k, page engagement also increased lo 71.197 {255%} wilh reach at 664.649190%). As we sUmed our busy iouring schedule, the Company's digital work remained an important part in sharing stories that c4)mplements the work on stsge. The Renovaiio Series - November l Dern 21 As the Company turned 21, we marked the beginning of our third decade of storytelling with a specially curated programme, presented at Sadlerf5 Wells from 23 November - 4 December 2021. where, after vo decades of learning and collaborating, il served as a moment for us to gather with UK audiences in-person as well as online wrth a devised digrtal Fxogfame, The Renovat Series.
Akrarn Khan Dance Company (Limited by Guarantee) Trustee5' report We brought together a multiplicty ofvoices from the Company but also other communittes and asked each of them one single question.. what dces dance mean ft) you now? While the 5-part series was not as wmle-reaching as we had hoped1711 views on YouTube and 467 views on Vimeo). the insights from this partUlar fomiat of films has helped lo inform wr future digital aclivty. Jun le B(x)k Trima ined content- March 2022 In light of our latest production Jungle Book reimagined. the campaign cOmMend with video series. that included a olleclion of Character Trailers12,435 views on YouTube) and four 'Making of documentsries whith feature insight5 frorn Akram and the collaborators. creative processes, as well as behind-the-scenes footage. Following the sharing across our Sla1 tTrèdia channe15, the series are now also being utsli5ed by touring venues lo build inleresl and anticipation ahead of the Company's performances. Social media Our online profile has continued to grow across Facebook, Instsgram, Twitter and YouTube. Across Instagram, we have seen another significant increase In followers as the company continues lo present performances and its Legacy projects worldwide. Ithilsl we saw a drop in engagement Ivs the par¢dem¢c ' year), we have seen an improvement on re*h. Our top audCeS span the UK. US. France, Italy. Greece, Spain and India. 1,106,823, 328,168, 2•Sgp i?DAe 71tsr I W IQtr31 PA¥3Q21 This year has also seen the Company create a presence on Linkedln. With monthly posts, it has been another important avenue for AKC to provide Company news. promote perfumanS and workshops, aid with recrurtment, and to further establish the legacy of the Company amongst students and professionals. Finan¢ial rèview The Company is fun(fed by Arts Council England and has received regular annual fun(iing for 17 years. 11 is ¢urrently a Natsonal Portfolio Organisation, and 2021-22 wa5 the final year of a four-year funding agreement which Commenced on 1 April 2018. The Company reports lo ACE through quartedy
Akram Khan Dance Company {Limited by Guarantee) Trustees. report monilofing and an annual statisb-cal survey and rt. The majority of the rest of the Company's resources are generated through earned activity income. principally inlemational and UK lounng. Because of our strong and relatively profitsble inlemalional touring profile and gc#2d relationship with co-producers we have onty a lim¢ted relian on contributed income. We have consistently exceeded forecasts for co-pioduclion funding linduded in our earned incoNÈ figures) which subsidises the production costs of a new work. Our financial planning and resilience is held up as a nde1 for good business planning within the dance industry. The COVID-19 pandemic proved the biggest challenge that we have faced in our 20-year hislory. After the cancellations ofalmosl our entire touring programme during tme 2019120 financial yeaf, and the loss of approximately £1.1 m of income, the 2021r22 fillancial year was a year to fegroup, be conservative with our budgeting, and work with our partners and promoters to draw audiences back lo venues and performances. We were very fortunate lo be awarded a grant of £280k from Arts Council England's Culture Recovery fvnd to assist us with this joumey. This enabled us to underwrite the costs of three extra projects.. Produce a film of Chotto Xenos to be screened at UK venues after live perfomances were cancelled Recast 0utwith.ng the Dewl to enable futu touring Undertake an R&D perKJ lo fo the basis ofwork on Jungle Bcok reimagined The remaining funds were LEsed lo undeThvrite the Company's running costs. However staff W0ed hard to ensure that overheads were kept to a minimum. induding downsriing our office premises. Reserves The existing Oicy is for the Company to maintain a consistent level of nngfenced reserves. equivalent lo the value of 3 m(th$ of shutdown costs. which rrenty stands at £250k. Desi naled funds In the 2020121 financial year we retsined our designated Fvojeet fund of £250k for use against the new production of Jungle Book lMagIned, ak•ng wrth the £215k hekl in our restrKted fund. The Legacy department generated a surplu5 0f£16.259. whKh enable5 US to undetwrrte some excits'ng and ambitsous plans for 21122. The balance of our reseNes of £127,641 is held as wothng capital whictt leaves us in a strong position to approach the 2022123 year. Risks As the company receives most of its co-production funding and perfom)an¢e fees in euros. one of ils biggest financial risks is idenb.fied as being the flUcaling cuffency rates. In the annual budgets a sum is set aside to mrtigate against this. On an operational level, the bgest risk to our activities is the falloLtI from Brexit and the restrictions imposed on travel to Europe. With promoters eager to present our work, we continue to come up against the Schengen rules on the number of days UK passport-holders may travel within Europe_ This does mean that engagements which have previously Lwn pencilled in the diary and within the budgets, may need lo be canlled or rescheduled to allow for the restrictsons. Altematively we face increased costs as we shuttle per50nnel back and forth to the UK betsveen engagement5 to reduce the number of Schengen days used up All of this has a major impact on our annual budgets. We continue to work with our promoters, agents and touring team to mitigate against this.
Akram Khan Dance Company (Limited by Guarantee Trustees. report Plans for fvture periods We create Ihoughttul. provocative and ambitious dance productions for natsonal and international stages. Akram Khan takes human tt)emes and works wth world-cL4s5 collaborators lo tske them lo new and unexpected places - embracing and working wlh other cultures and disciplines. By focusing on excellence and innovation, whilst remaining relevant and pushing Ihe ts)undaries of the art form, we a commilled lo reaching new audiences and supporting the development of growing talent - wth its dance language rooted in Akram Khan's dassical Kathak and contemporary training. Our Vision. Mission and Values are- Through the meeting of wortds. we invite people io see. dream and reftect on the beauty and cOMpxity of being human. Our core values are.. Courage Curiosty Caring CollatKration ConnectKJn These values are reflected throughout the compary' in Our producbons. our digf(al and Legacy projects, our organisatDnal structure and in the workjwwje relationships we build and maintsin with artists, collaborators, venues, festsvals and funders. The Company has more excrting plans in place". with W0F01$ for new works. extsnded Legacy projects, and engaging digital activity. we wll see a wide range of meaninghjl projects worldwide. We see the coming years as much-needed tratK)nal years of recovery for the Company as a whole. We have leamt and listened, and will be addressing the weaknesses exposed by the COVID-19 pandemic of our bLFsiness model to dale and the effect rt has haj on our workforce. The coming year will mark the end of Akram's extraordinary career as a solo performer as well as enabling his development as a renowned worldwide choreographer. This year will also provide us with the opportunity to nurture and lest an innovative. yet robu5( new touring business model, as well as solidifying our vision and mission over the next decade. Wewill continue to tour Chollo Xenos. XENOS and Ouhw"ttinglhe Devil throughout the 2022123 financ?1 year. XENOS will come to the end of its touring cycle, wrth performance5 in Paris in July 2022, and plans being put in place to tske the work lo India earty in 2023. Outwitting the Devil and Chotto Xenos end their touring cycles in Autumn 2022. The postponed retum of Kaash (Revival) to Southbank Centre happens in April 2022. Jungle Book Teimagined premieres at Curve Theatre, Leicester In April 2022 and will be used as a pilot production for a shrft in our business model. We will maximise its commercial potenlial and use rt as a vehide lo progressivety embrace all four ol the Arts Council England's Investment Prinaples across all our activib.es In addrtion. we will nuthre the growth and devetopmenl of our Legacy and Digital departments and expand the large communrties they serve across the globe. Given the continued demand for Akram's work. both in the UK and intemalionalty, the conts.nued exlIent reputation of the Company'5 ¢Teative output. and the dedication and commitment of its highly skilled and experienced staff and Twstees, we remain opbmistic. and have put in place a realislK roadmap for continued success In the years to ¢on*.
Akram Khan Dance Company (Llmlted by Guarantee) Trurtees. report In addition to this, the Company 15 exploring new intemalional louiing models whereby work can be licensed to other cornpantes. This would allow for skills and knowkdge transfer. as well as make our creaty.ons more financially accessible arKI with wider territorial reach beyond the major capital cities. The Company's existing international partners remain finnty committed lo working with us in the future, but with the caveat that their co-production support will be diminished due to the difficult financial market. We see Jungle 8ookreimagined as a major veh for of our fulure intemational touring mcdel. We are currenfjy in discuSsnS wrth Shanghai 1nlemath.onal Feslival lo explore a 0-year license of Jungle Book reAmagined in partnership with Guandong Modem Dance Company. This project will involve a remount of ihi5 production with a complete Chinese cast and the IransL8tion of the script into Mandarin. It is hoped that Jtsngle Book reimagined (China version) will premiere as part of Shanghai Intemalional Feskn'val in OCtor 2022 followed by a large tour of the production within Mandarin speaking countries. Our artisti¢ ambition will remain undimintshed, and our relationship with our audiences will deeper and more meaningful. Akram personally will have continued lo transits.on into a new era of his career, and the Company will be 5taTb"ng to reap the artBtiC Tiches thal will CQTne once AkTam 15 focused sole on his role as Arts"stic Diredor. The Company, and Akram's legacy, will be assured and secured: and we wll be mving fotward, with morr*nlum. to the next phase of our joumey. structure. governance and rnanagement The organisation is a charitable company limited by 9uarantee incorporated oft 19 December 2001. amended by special resolution on 24 September 2016 and registered as a charity on 11 October 2016. The Company was eslablished under a Memorandum of Association, which established the objects and powers of the charitable company and ts govemed under its Articles of Association. In the event of the company being wound up members are required lo contribute an anN)unt nol exceeding £1. A full review of the Memorandum and Articles ofAssocialion was undertaken durin9 2016. This rev ensured that the Governin9 document continues to be fit for ptsrpose. Board makeup ol skills is regulaty reviewed, partulaty when a nEmber resigns, and people with strengths in areas less represented on the board, are pul forward. In most instances. the choices are approved by all members and the individual 1$ usualW approached inrtially by the most levant Board member. often the Chair. On appointment TNstees are given the Company s Memorandum and Articles and most re¢ent business plan, plus the most recent minutes and management accounls. The Trust cenIty has a Board ofTnJstees ofseven ffÈmbers. who meet on an average of once every 3 months. The Board is responsible for the Strategic direction, the poliies of the Charity and for reviewing its financial affairs. The Board has members from a variety of PTofessional backgrounds relevant to the work of the charity. The quorum of Trustees al weral meetings cannot be les5 than three Trustees present in person or by proxy All day-to-day running deosions are made by the seTrT Management Team The Producer is responsible for ensuring that the ¢harrty delivers the services specified and that key performance indicators are met. The Finance Oire¢tor is responsible for ensuring financial and administrative systems, Standards and pra¢b'ces meet operab.onal and legal reqU1Ments. All artistic planning and policy decisions are made by the Artistic Director. All Trustees gNe Iheir tirrE voluntarily and receive no remuneration of other benefits from the chanty.
Akfam Khan Dance Companv (Limited by Guarantee) Trustee5' report The pay of the senior staff and all staff is vieWed annually and noMllY increased in accordance with average earnings lo reflect a ¢ost of living adjustment. In VEW of the natu of the charty, the Trustees benchmark against pay leve15 in other sirnilar chanlie5 of a similar size operab.ng in the arts sector. Risk Management A risk register has tjeen developed, risks are prioritised, and huh rated ttsks are discussed al each Board meeting. Should any high or extrerre risk become evident in beeen Board rneetings. the Producer or Management Team will infom the Trustees and agreement as lo action to be taken in miligalion will be agreed by the majority of Trustees by email. The 8oard of Trustees is sats'sfied that all major fisks have been identified and that systems and actions are in pL2ce to mitlgate those risks. Related Parties There are no lated parties guIng the work of the Trust. The man4ement of the company is undertaken by a senior management team comprising the Artistic Director, Producing Director, Execulive Direcior and Finance Director. Statement of TNstees' Responsibilities The trustees {who are also directors ofAkram Khan Dance Company for the purposes of company lawl are responsible for preparing the Twstees. Annual RepM)rt and the financial stalemnls in accordance with applicable law and United Kingdom Accounb"n9 Standards (United Kin9dom Generally Accepted Accounting Praclicel. select Suitab accounting policies and then apply them consislenty.. observe the methods and prinaples in the Charities SORP 2019 IFRS 102}." make judgements and eslimales that are reasonable and prudent., ' 5tste whether applicable UK Accounting Standards have been followed. subj.ect to any material departures disclosed and explained in the finanal stslements., prepare the financial stslements on the going concem basis Lsnless rt is inappropriate lo pSurne Ihat the charitable c(Mnpany will continue in operalton. The Iruslees are responsible for keeping adequaie accounting records that disclose with reasonable accuracy at any time the financial position of the chaiitable company and enable them to ensure thal the financial slalements comply with the Companies Act 20C6. They are also responsible for safeguarding the assels of the ¢haritsble Cornpany and hence for la(ing reasonable steps for the prevention and delectK)n of fraud 2nd other irregularities. In so far as the trustees are aware at the time of aFproving our trustees. annual port.. . there is no relevant infom1atn, being inforMatn needed by the audrtor in connection with preparing their report, of which the tharItab company's auditor is unaware., and the trustees. having made enquiries of fellow directors and the charitable company's auditor Ihal they ought lo have IndivKlually taken to make themselves aware of any relevant audit inlormation and to establish that the auditor is aware of that informatM)n. The Iruslees are spOnSible for the maintenance and integrity of the corporate and financh31 infomalion included on the charitable Company's websrte. Legislats"on in the United Kingdom goveming the preparation and dissemination of financial stalerrents may differ from legislation in otherjurisdiclion5. 10
Akram Khan Dance Company (Limited by Guardntèe) Trustees. report Small Company Exemption$ This report is ppared in accordance with the provisions of the Companies Act 2006 relating to small ¢ompanEs. This report was approved by the Board ofTrustees on 16 December 2022 and signed on its behalf by Dipali Sahni Trustoe 11
Independent AuditoTs' Fleport to the Members ol Akram Khan Dance Company Opinion We have audited the linancial slalemenls of Akram Khan Dance Company {Ihe'charitable companll for the year ended 31 March 2022 which comprise the Sialemenl ol Financial Aclivilies. the Balance Sheet, the Cash Flow Sialement and noies to the financial siaiements, including a summary ol signili¢anl accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting sndardS. including Financial ReFM)rting Standard 102 The Financial Reporting Siandaid applicable in the UK and Republic of Ireland (United Kingkn Generally Accepted Accounting Praclice). In our oplnlon the flnancial statements: give a true and fair view ol the slate ol the"charitab companls allairs as at 31 March 2022, arKI ol its incoming resources and application ol resources. including its incorne and expenditure, lor the year then erKled,' - have been properly rxepared in accordance with unit KIWM Generally Accepted Accounting Pfactice; and - have been prepared in accordan¢e wth the requirnents of the Companies Act 20C6. Basis for opinion We conducted audil in accordan¢e wth IernatIonal SkrKJards on Audiling IUKI IISAS IUKII and applicable law. Our responsibilities unde¥ those standards are lurther described in the Auditorfs responsibilities lor the audit of the financial stalements section ol our report. We are independent of the charitable company in accordance wtth Ihe ethical requirements that are relevant io our audit ol the financial statements in the UK. including the FRC'S Ethical Standard, and we have fumilled our other ethical responsibilities in accordance wilh these requirements. We believe that the audil evidence we have obtained is sullicient and awropriate to provide a basis for our opinTron. Conclusions relaling to going con¢eTll In auditing the financial slalement5, we have concluded that the tnjsiees, use of the Ing concern basis of accounliro in the preparation ot the financial ststemenls is appropiiale. Based on the wort( we have perfomied, we have not idenlilied any material UertaintieS relaling lo events or condilions that, individually oi collectively, may cast significant doubl on the charitable companls ability to continue as a going concern lor a period of al least twelve months from when the financial statements are authorised lor issue. Our responsibilities and the responsibilities ol the Itee$ with Spect to going COern are described in the relevant sections ol this reporL Other Snfonnatlon The other information comprises the information included in the Irusiees annual report, other than the financial statements and our audttorfs report Ihereon. The Injstees are responsible for the other inlormalion contained within the annual rewrt. Our opinton on the linancial statements does nol"cover Ihe other information and, eXp1 to the extent otherwise explicitly slated in our fep)ri, we do not express any form of assurance conclusion thereon. Our responsibility is to read Ihe other information and, in doing so, consider whether the other infoimalion is malerialty inconsislenl with ihe financial stalemenls or our knowledge obtained in Ihe course ol the audit or otherwise appears lo be materially mis51aled. 11 we identify such material inconsistencies or apparent material misslatemenls. we are required lo determine whether this gives rise lo a material rnisslalerftenl in the financial statements themselves. 11, based on Ihe work we have performed, we con¢lude ihal there is a material misslalemenl of this other inlormation. are required lo report Ihal fact. We have nothing lo repart in this fegard. 12
Independent Auditors. Report lo Ihe Members ot Akram Khan Dance Company Opinions on other matters prescribed by the Companies Act 21106 In our opinion, based on the woik undertaken in the course ol the auth'i- the information given in the Iwslees, reFQrt lincorp)rating the directors, reponi for the financial year for which the financial statements are prepared is consistent wlh the financial statements- and - Ihe directors, report has teen prepared in a¢¢oidan¢e with appluble legal requiremenls. Matters on whlch we are requlred to report by excepllon In the Ih1 ol our knowledge and undeistanding ol Ihe charitable company and ils environment obtained in the course ol the audit, we have not Klentified material misslatemenls in the directors, rep)rt. We have nothing lo report in respect ol the IcAlowing matters in relation to which the Companies Act 2006 requires us lo report lo you if. in our opinion- adequate accounting records have nol been kept. Of retums adequate lor our aud(t have not been received from branches not visited by us- or - the linan¢ial slalemenls are nol in agreement with the accounting records and relums- or certain disclosures of directors. remuneration Silled by law are not made,. or we have received all ihe information a1 exptanations we require loi our audit- or the Iruslees were nol entitled to prepare the linancial statements in accordance wtth the small companies. regime and take advantage of the small compan. exemptions in preparing the directors. rewrt and Irom the requiremeni to prepare a Strategic report. Responsibllltles ol trustees As explained more lully in the Iruslees. responsibilities stalemenl sel out on page 10. the truslees Iwho are also the direclors ol the Charilable company lor Ihe purposes ol company lawl are responsible IOT the preparation of the financial slalements and lor being satisfied that they give a true arKI fair view. and lor such internal control as the IrLlStees determine is necessary lo enable the preparation ol financial slaletnenls ihal are tree from material misslalemenl, whelher due to fraud or error. In preparing the financial slatem&nls, Ihe trustees are resron5ible for assessing the charitable company's ability lo conlinue as a going concem. disclosing. as applicable, matters relaied to going concern and using the going concern basis ol accouniing unless the irusiees eiiher intend 10 liquidate Ihe charitable company or lo cease operations, or have no realislic allemalive but io do so. Auditor's responsibilities lor the audit of the financial statements ¢lJr objectives are lo obiain reasonable assurance atoul whether the financial statements as a whole are Iree from material missiatemenl, whether due lo fraud or erfor. and lo issue an aud(torfs report thal includes our opinion. Reasonable assurance is a high level ol assurance, bul is not a guarantee that an audit conducted in accordance with ISAS {UKI will always delecl a material misslalemenl when il exists. Missialemenis can aiise from fraud or error and are considered material il, individually or in the aggregate, they could reasonably be expecled lo influence the economic decisions ol users taken on the basis ol Ihese financial slalemenls. 13
Independent Auditors. Report to the Members of Akram Khan Dance Cornpany lffegularilies, including fraud, are inslaftces of non-compliance with laws and regulations. We design procedures in line with our responsibilrties, olIned above. to delect material misslalements in respect ol irregularities, including fraud. The extent to which Our procedures are capable ol delecling irregularities, including fraud is detai below= Discussions with and enquiries of management and Ihose charged th govemance were held with a view to identifying those laws and regulations that could be expected to have a maierial impath on the financial slalements. During the engagemeni team briefing, the outcomes ol these discussions and enquiries were shared with the team, as well as eonsKleration as lo where and how fraud may OCCUf in the entity. Because ol the inherent limiialions of an audit. there is a risk that we bwll not delecl all iriegularities, including those leading lo a material misstalemenl in the financial statements or non-compliance with iegulalion. This risk increases the more that compliance with a law or regulation is removed from the events and Iransactions Tellected in the financial slalements, as we will be Ses5 likely lo become aware of instances ol non-compliance. The risk is also grealer regarding irregularilies occurring due lo fraud rather than error, as liaud involves intentional concealment. forgery. collusion. omission or misrepresentation. A lurther descriptron of our SponsIbl1rtreS available on the FRC'$ website al.. httpsJlwww.Irc.org.uklaudilorslaudil-assurancelauditor-s-iesponsibililies-lor-Ihe-audil-ol-the-fbldescription-ol- lhe-auditof/¢E2VOY¢99S-reSponsIb1Iltres-10r. This descriplion foirns pari of our audiiorfs report. Uso ol our report This report is made solely lo the charitable companYs members. as a tmth. in accordance with Chapter 3 of Part 16 of the Companies Aci 2006. Our audit work has been undertaken so that we mighi siaie lo the charitable companys members those matters we are required to siaie to them in an audilorfs report and lor no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility lo anyone other than the charitable company and the charilable company s members as a ty)dy, fof our audit work, lor Ihis report, or lor the opinions we have formed. Mr Graharn Berry FCCA (Senior Stslutory Audltor) For and on behalf of Bre¢kman & Company Ltd Statutory Auditorg Chartered Certified Ac¢ountanls 49 South Molion Street London W1K 5LH 16 Decembef 2022 14
Iumlted bylAw•tee) si•ir•nt ol FI[&11 kl1vilS (irKknliry EYpeThiiNwe A¢couTht) tortyear ended 31 Ilwch 21>22 To Totsi Income and endowments from". Oonalions and legacies- paoe 16 Charitab a¢livrtkP5 Th8alre- paw 16 Investments Othpr-TTR- page 17 15.QXI 859X 613.078 013,078 794.479 10NJ) W.479 2CO.IKYJ 3C6J83 152 136.026 136.DZ6 Tolal 1.&79.137 25.(KMI 1.664.137 .$42 2(.[7 1.1)$5.$42 Expendllure on.. Trs1ng ltsrNts' Furkaising charitab activi15. Tatra- P¥J¥ 18 21.( 21.COJ 28.2 . 1.5W.351 10.cw 1.51OJ51 l.C#%.439 i.r#%.439 Tolal I.52151 10.(X•J 157IJ51 1.034.689 1.034.689 movement ltt fuwwJ- Npt lexppndituve)fincoffle RecontllLgtlot) Of lund¥= Tolal lun¢J8 broughl lonvard 117.786 15k 1$2.786 1179.147) 2.() 543.141 2W.tsJ) 743.141 722.288 722.288 Total fundscwvled lorwavd 14. 15 660.927 215.) 875.927 543.141 ¥JJ,WO 743.141 notes on pages 22 to 30 lorm an inle9r part01 Ihese swemen The siaiemeni ol linanoal a¢iMtr8¥ IncW88 al gws arKJ hxss ttwJwJ Al armj expe fvom ¢oniinuiw Xbvth•S. 15
Akram Khan Dance Company (Limited by Guarantee) Year ended.31 March 2022 2022 Income from donations and legacies Grants Emergency COVID-19 funding Arts Council England- CRF HMRC Coronaviws Job Retention Scheme 280,000 11.271 291,271 84,688 Arts Council England - NPO funding 509.821 509,821 509,821 509,821 Capital Group Sky Arts 12,922 30.000 42,922 Donations Donations 15.492 18.569 1 S,492 18,569 859,506 528,390 Income from charitable activities Theatre Theatre income UK perfoimance lees Iniernalional pertormance lees Co-produciion income Special education projecls Workshops Management lees Fees receivable Other income 118.500 602,938 25,000 7.324 26.352 92,805 6,728 5,500 10.865 1,350 794,479 106,383 Project specitic lunding Grants Garlield Weston Foundation Genesis Fund 200,000 io.c 10.000 200,000 804.479 306,383 16
Akram Khan Dan¢e Company {Limiled by Guarantee) Year ended 31 March 2022 2022 Other Income Other Theatre Tax Relief 136.026 136,026
Akrnm Khw Oance coMnY (Limited by Guarantee) Year ended 31 March 2022 2021 Expenditure on charitable activities Theatre Producllon costs Dancers, lees Artistic director fees Producer lees Rehearsal costs Technicallcrealive costs Seislcostumes SOUndRghu0Iher technical costs Other production costs Touring costs MarketinprOMOtion Royalties 91,573 70.000 88.750 76.473 203.890 4,702 31,813 70.000 70.000 34,801 60,432 45 4,498 2,866 25.038 21.745 76,634 38,441 110,660 57.630 105.824 853,937 397.872 SuN)ort and govemance Costs - page 19 656.414 608,567 1,510,351 1,006,439 18
Akram Kh Dan¢e Company (Limited by Guarantee) Year ended 31 March 2022 2022 2021 Support and governance cosls Support ¢osts Office overheads RenVrales/room hire Telephonin1ernet Insurance SIoTage EquipmenUrepairslrriaintenan¢e Computer costs Depreciation of equipment 33,304 9,537 25.531 24.337 1.925 5.944 48.762 6.410 29,598 24,442 1.932 6.110 5.745 106.538 122,999 Adminlslration cosls Salarieslfees Social secunty cosis Staff penSn cosis Staff welfare Work permits Travevsubsislence Entertaining PrintInpOSIage1s1a1lOnery Subscriplionsllicences Sundries Charitable donalions 429.194 23,044 8,151 896 8,072 6,191 1,225 1,096 1.347 22,036 368.947 24.715 6.900 293 4.213 1,782 277 1,158 1.546 173 501,302 410,004 Prolessionallfinaricial Flesearch and developmenl Legavprolessional Bank charges Bad debts Deficil on foreign exchange 23,462 6.144 1,759 15,327 20.298 12.969 60 20.649 41.324 66.990 Governance ¢osls Accountsncylconsullancy Audit 3,250 4.000 4,500 4,000 7,250 8,500 656.414 608,493 Delicil on diswsal ol tarwibk fixed assets 74 656,414 608,567 19
Akram Khan Dan¢e Company (Limited by Guarantee) Balance Sheet 31 March 2022 2022 2021 Notes Fixed assets Tangible assets 36,373 20.302 Current assels Debtors Cash at bank and in hand 10 1.306,089 355.540 337,998 672,368 1,661,629 1.010,366 LiabllltSe5 Creditors.. amounls falli due within one year 11 1822.0751 {287.5271 currenl assets 839.554 722,839 Tolal as8et$ less ¢urrenl liabilities 875,927 743,141 The lunds of the charlly Unreslricied funds General fund Designated luThJs 14 127,641 533,286 26.114 517,027 660,927 543,141 Restricted income funds 15 215.1))o 200,000 Total charity lunds 875,927 743,141 The trustees have ppared these accounts in accordan with section 398 of Ihe Companies Act 2006 and section 138 of the Gharilies Ath 2011. These accounls are prepared in accordance with Ihe special provisions ol Part 15 01 the Companies Act relaiing to small companies and consiilute the annual accounts TeqLJired by the Companies Act 2006 and are for circulaiion lo members of ihe company. The acc(wnts were approved by the Board of Trustees on 16 December 2022 and signed on its behalf by Dipali Sahni Trustee The notes on pages 22 to 30 tomi an integral part ol these financial statements.
Akram Khan Oance Company (Llmited by Guarantee) Cash Flow Ststemenl lor ihe year ended 31 March 2022 2021 Noles Cash flows from operating activilies 19 1294,9491 162,484 Cash flows from investing activities: Dividends, interest and rents from inveslments Purchase ol property, plant and equipment 152 (22,031) 55 11,5081 Net cash provlded by investmenl activilies {21,8791 11.4531 Change in cash at bank and in hand in the reporting Fwiod Cash al bank and in hand al the beginning ol the reportirMJ period {316,828) 161,031 672,368 511.337 Cash at bank and in hand at the end ol ttbe reportlng period 355,540 672,368 21
Akram Khan Dan¢e Company (Llmlted by Guarantee) Notes to Ihe Finan¢Èal Statements for the year ended 31 March 2022 Accounllng policies 1.1. Basls ol preparing the linancial statements The financial slalemenls have been prepared in accordance wrlh Accounting ancl Reporting by Charities.. Slatemenl ol Recommended pral¢e lissued October 20191 applicable lo charities prepariro their accounts in accordance with the Finalicial Reporting Standard applicable in the UK and Republic ol Ireland (FRS 1021 (effective 1 January 2019) {Charities SORP {FRS 10211, and the Companies Act 2006. The charity meels ihe (ielinition of a wblic benelil entity urKler FRS 102. Assets and liabilities are initially recognised al historical cosl or transaction value unless olherwise staled in the relevant accounting policy notes. 1.2. In¢omlng resourc All incoming resources are included in the Sialemenl of Financial Activilies when= the charity is legally enlilled to Ihe funds - any performance conditions attached lo the income have been mei or are lully within the control ol the Charity there is sufficienl certainly that receipt of the incoffle is considered probable the amount can be reliably measured - Donalions and legacies Granlsldonalions are recognised in incomir¥J resources in the year in which they a receivable, except as lollows.. when donors specify that granlsldonalions given lo Ihe charty must be used in future accounting periods, the income is deferred unlil Ihose periods - when donors imp)se conditions which have io be fulfilled belore the charity becomes entitled to use such income, the income is deferred and not included in incoming resources until the preconditions lor use are met. - Charitable a¢llvities Thealre income income from kxjx oflice, perlomiance lees and sundry other thealrical income is included in incoming resources in the period in which the relevanl show lakes place. Project specific funding - when donois specily thai donatnS and granls are for particular restricted purposes, which do not amount to pre-conditions regarding enlillement, this income is included in incoming resources of restricted fuThas when receivable. - Investment income Inleresl on funds hekl on deposit is included when receivabb and the amount Can be measured reliably by the char'ty.. this is normalty upon nolilication of the interest paid or payable by t17e Bank.
Akrafft Khan Dance Company (Llmited by Guorantee) Notes lo Ihe Financial Slalements for the year ended 31 March 2022 1.3. ExpendSture All expendilure is included on an accruaLs basis inclusive ol any VAT which cannol be recovered and is recognised when.. there is a legal or constructive oblrgalion lo make a paent it is probable that settlement wll tse required - Ihe amount of the obljgalion can be measured refia - Costs of ralsing funds Costs incurred in attracting donalions. arKI those incurred in Irading activities that raise funds. Charitable activttles Theatre production costs - costs irKurred in prcmJUctn and running ol PfoductKJns toured in the year. - Support ¢osls The adminislralive and overhead Cosis asstxiated wilh running the office from which the company operates as well as govemance cosis. Support costs are wholly attributable lo theatre production costs. - Governance costs Costs associated with the constitutional and statutory requifemenls of the charily. 1.4. Fund accounting Funds held by the charity are *ther- Unreslricled geneial lunds these are lurKls which can be used in accordance with the charitable objects at the discielion of Ihe trustees. Designated funds - these are unrestrithed funds ol the charity which ihe irusiees have decthd at their discretion to set aside lo use lor a specific purrA)se. Resliicted lunds - these ale lurKls thai can only be used for particular restred wrposes within the objects ol the charity. Reslriclions arise when specilied by the donor or when funds are raised lor particular restricted purwses. Further explanation of Ihe nature and wrpose ol each fund is included in Ihe noles to the financial slalements. 1.5. Tangible fixed assets and depreciation IndivKlual fixed assets costing £100 or more are capitalised al cost. Oeprecialion is provided al annual rales cabJlatwJ to write off Ihe cost less residual value ol each assel over its expected useful life. as follows: Plant and rnachinery Fixluresllittt'ngslequiwnent 25% on reducing balance 25% on reducing balance 1.6. Debtors Trade and other debtors are recognised at the settlement amount due aller any trade discount ollered. Prepayments are valued al the amount prepaid after taking account ol any trade discounts due.
Akrnm Khan Dance cothpany (Limiled by Guarnnlee) Notes to the Financlal Ststements for the year ended 31 March 2022 1.7. Production costs in advance Costs incurred in respect ol a theatre production which opens in Ihe foll0vng accounting period, and which are lo paid of general unrestricted funds, are carried forward at the bala1 sheet date. 1.8. Cash at bank and In hanil Cash al bank and in hand includes cash and short lerffl highly liquid investments with a short maturity ol three monlhs or less from the date ol acquisilK)n or opening ol the deFosiI or similar account. 1.9. 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 translei ol funds lo a third party and the amount due lo settle the obligation can be measured or eslimaled reliabty- Creditors and provisions are rrMallY recognised at the+'r settlement amount after allowing lor any Ir discounts due. 1.10. Penslons The company operates a defined contribution scheme for the knefit of ils ernpYees. conlTibutions payable are re¢C41$ed as expenditure when due. 1.11. Foreign currencies Monetary assets and liabilities denominated in fOren currencies are translated into steiling at the fates ol exchange ruling ai ihe balance sheei date. Iransaelions in foreign currencies are lianslaled at the dale ol Ihe tranSactnS. all gains and losses on exchange are written oll in the income and expenditure account. 1.12. Financial Instruments The charily only has financial assets and financial lialj'lities of a kind thal qualify as basic finala1 inslrumenls. Basic financial inslnJmenis are initially ognISed al Iransaciion value. and subsequently measured al their settlement value. 1.13. Significant A¢¢ounting Estimales and Judgements In delemiining the carrying amounts of certain asseis and liabililies, the charity makes assumptions of Ihe ellects ol uncertain future everrts on those assets and liabilities al the balance sheet date. The charity's eslimales and assumplions are bas on historical experience and exFeclalion ol future events and are reviewed annualty. Incomlng resources The total theatrical income lor the year has been derived from the principal activity. The proportion ol Iheatrical income derived from oulside the UK amounled to 12021 - 61 Q/ol. Other income 2022 Thealfe Tax Relief (TTRI 136,026 24
Akram Khan Dance Company {Llmited by Guarantee) Noles to Ihe Financial Slatements for the year ended 31 March 2022 Nel lexpendSlure)Ilncome for the year is stated atler Charging: 2022 2021 Oepreciab'on of tangible fixed assets Delicil on disposal of tangible fixed assets Delicil on foreon exchange Auditors. remuneration exlernai audit - other seNices 5,960 5,745 74 20,298 20.649 4,000 3.250 4,000 4,500 Trusiees. emoluments and relmbursed expenses The Iruslees received no remuneration during the year {2021 - £nil). The aggregated amount rmjr$Od lo trustees during the year was £nil12021- £nill. 25
Akraffj Khan Dan¢0 Company (Llmited by Guaranle8) Notes lo Ihe Finan¢lal Statements lor the year ended 31 March 2022 Staff costs and numbers 2022 2021 Staff costs Salarie5 and wages Social security costs Pension costs Redundancy costs 272,024 23.044 8.151 22.523 317,638 24,715 6,900 325,742 349,253 No employee earn £60,0 Of more during the year (2021 - £nil). The key management personnel ol Ihe charity comprise Ihe Truslees and the Senior Management Team. The total employee benelils and lees of Ihe key management Fersonnel ol the charity were £321,50012021- £553,068). There were redundancy costs in the year 01 £22.523 {2021- £nil). Stsfl numbers The average numbers ol empbyees (induding casual and part time staff) during the year was rnade up as follows: 2022 Number 2021 Number Production Support 10 Pension costs The company ¢)perates a defined conlribulion pension scheme in respect ol ils eMpyeeS. The scheme and its assets are held by independent managers. The pension charge represents conlributions due liom the company and amounted to £8,151 {2021 - £6,9)01. Corporation taxatlon The char'ty is exempi from lax on income and gains falling within section 505 of the Taxes Acl 1988 or section 252 01 Ihe Taxaiion ol Chargeate Gains Act 1992 to the extent that these are applied lo ils charitable objecls. 26
Akram Khan Dance.Cornpany {Limited by Guarantee) Notes to Ihe Financial Statements for the year ended 31 March 2ff22 Fixed assèts- tangible assets Planv machlnery Fixluresl fittingsl equlpmenl Totsl Cost 1 April 2021 Addrtions 39,609 19,915 22.811 2,116 62.420 22,031 31 bAarch 2022 59.524 24,927 84.451 Depreciation 1 Apiil 2021 Charge lor year 27,084 3,822 15,034 2,138 42,118 5,960 31 March 2022 30.906 17.172 48,D78 Nel book values 31 March 2022 28.618 7,755 36,373 31 March 2021 12,525 7,777 20.302 10. Debtors 2022 2021 Trade debtors Other deblois Production costs in advance Prepayments Accfued income 562.997 11,949 599.052 21,236 110,855 113,883 17,963 15,500 10.902 179,750 1,306,089 337,998 11. Creditors- amounts falling due within one year 2022 2021 Trade creditors Other laxalionlsocial security Other creditors Accruals DeferTed income Inoie 12) 265,065 5,790 11.258 119,709 420,253 84,678 6,848 3.843 40,503 151,655 822,075 287,527 27
Akram Khar4 Dan¢¢ Company {Limited by Guaranlee} Notes lo Ihe Flnanclal Ststements for the year ended 31 March 2022 12. Deterred Income Balance at l Nyil 2021 151.655 Amount released lo incoming resources Amount delerred In the year 1151,655} 420,253 Balance at 31 March 2022 420,253 Oelerred income relates lo theatre income received iri athance. 13. Llmited by guarantee The private company is limiled by guarantee, registered in EW - England and Wales, and does not have a share capital. Each member gwes a guarantee lo contribute a sum. not exceeding £1, to the company shoukl it be wound up. At 31 March 2022 there were 9 rnembers. 14. Unrestricted lunds Brought forward In¢oming Outgolng resources resourees Carried fonward General lund Designated lunds.. Flinglenced reserve lund Project lund Legacy proiects 26.114 1.554.836 11.453,309) 127.641 250.000 250,01)0 17,027 250.000 250,000 33,286 84,301 168.0421 543.141 1.639,137 {1.521,3511 660,927 Rlngfenced reserve fund This fund represents a rignlenced amourn equivalent to a ihree month provision should the charity cease operating. Projecl fund Having used a lol ol our big co-pr(xJucer contscts to furKJ Xenos, we created the project fund io underwrite the cosls ol lulure projects which may require a hKJher level ol funding. Legacy projecls r designaled Legacy fund supports artistic. educational aThJ training yojecls Ihal ensure the ¢onlinvation ol Akram's ¢horety3raphic legacy and AKC values. 28
.. Akram Khan Dance Company (Limited by Guaranlee) Noles lo the Flnanclal Statemenls for the year ended 31 March 2022 15. Restred lunds Brought Incomlng Outgolng lonvard resources resources Carrled foNiard Jungle Book 200.OCK) 25,000 110,0001 215.000 Jungle Book Funds received from Garfielj Weston Foundation Weslon Culture Fund. Genesis Fund and other donations towards the crealion and rehearsal of Jungfe Book, due lo premiere in April 2022. 16. Analysls ol net asse1$ between funds General funds Deslgnated funds Reslricted funds Total Fund balances ai 31 March 2022 are represented by: Tangible lixed assets Net cuirenl assets 36,373 91,268 36,373 839,554 533.286 215,000 127.fA1 533,286 215,000 875,927 17. Financial commitments At 31 March 2022 the company had lotai future o)mmitments under non-cancellable operating leases as lolbws.. 2021 Due: Within one year Between one and live years 23.069 23.069 23,069 46,138 46,138 69.207 18. Related party transacllons Duiing the year the company had no laled party transactions Ihal required disclosure.
Akram Khan Dance Company (Llmlted by Guaranlee) Noles lo the Financial Statements for Ihe year ended 31 March 2022 19. Reconciliation of nel in¢omel{expenditure) to nel cashflow from operating activllies 2022 Nel incomellexpenditure) lor the reporting period las per the slalemenl of tinancial acltvitiesl Depreciation Dividends, inieresi and rents from inveslments Deli¢il on the sale ol fixed assels {Increaselldecrease in debtors Increaselldecreasel in credilors Net cash outflow from operating actlvltles 132,786 20,853 5,960 11521 5,745 1551 74 331,724 (195,857} 1968,0911 534,548 {294,9491 162,484 30