Company number 04342933 Charity number 1169593 kram Kh•n Dance Company (Limited by Guarantèè) Report and Financial Ststements for Ihe year erNl8d 31 March 2023 *ACIZVPYW• 2Y12f2023 COMPANIES HOUSE A07 Breckman & Company Lld Chartered Certrfied A¢¢ountants 49 South DAollon Strwl LI￿dOn W1K 5LH JLram Khan Dance Company (Limited by Guarantee) Contents Page Reference and Administrative Del￿1$ Trustees, Rgport 3-10 Avditors. RepLYt Statement ol Financial A¢tivities (in¢1￿¥ng Inc¢yne aThJ Exp&nditure A¢countl 15-18 Balance Sheet f9 Cash Flow Statement Not•s to thè Financial Statemènts 21-29 A*Am Khan Daneo Company {Limited by Guarantee) Refèrence and Administrativè Det•ils ConstitLrtion The charitable company is a private company limited by guarantee iegisiered in EW - England and Wales, company number 04342933 incorp)rated undef the Companies Act and its governing document is its MernoraNdum and Articles ol Associaiion. The company is a registered charity. numter 1169593. Directors and trustees The directors ol the charitable company (Akfam Khan Dance Company) are its tnjsiees lor the purpose ol chafity lav• and throL59hout thbs repwl are Cdlecknvpty referred lo as the truslees. Policies and Fycrkdures athpted Iof the i￿￿ct￿)n aThJ tr&niThJ ol trusteès are ongoing and incorporated indirectly into the regular trustees meetings. The trustees during Ihe year and sir*ce the year end. were -. Anais Agverre GLrrrek 8w.ns (Chairl Emma Chfistina Birehall appointed 16 September 2022 Vict￿la Leanae Brown appointed 16 September 2022 Anita Kirpal aFpointed 17 June 2022 M*¢hael Cohen resgaed 16 September 2022 Nicole Newman Tumèr Mary O'Reilly Oipali Sahni Jeremy Shakerley Denis Shafranik Ri¢k wen￿ort Secretary Jane TaWor-Holmes Artistie Director Akram Khan Producing Director Farooq Chaudhry Day to day mana9ernent Jan Hart IFinance Direclorl Isabèl Tamen IExeryit"vè Direclorl Aklam Khan Dance company (Limited by Guarantee) Refernnce and ￿MinIStrative Detslls Auditors 8reckman & Company Ltd, Chartered CerDl*d A¢counwts. 49 South Molton Street. London WIK 5LH. Bankers HS8C, 25 IslirKJton Higtt Street, London N1 9LJ. Solicitors Bates Wells, 10 Queen Street Pla￿. Lonth)n EC4 1BE. Registered office and opgration address Somersel House, West Wing, Strand. London WC2R 1 LA. Akram Khan Dance Company (Limited by Guarantee) Trustees. report The Trustees present their annual report togethef wilh the financial statements of the ¢harty for the year ended 31 March 2023 whtch are also Pfepared lo meet Ihe requirements for a Directors. report and accounts for Companiès Act piirposes. The referen¢e and administrative details set out on page 1 forms part of thts report. Tfie financtal statements Gompty wrth Charitiès Aet 2011, the Companies Act 20C6. the Memorandum and Article5 of Association and Accounting and Reporting by Charihes" Siatement of Recommended Piactice applicable to tharities preparing theii accounts in accor¢Jance wrth Ihe Financial ReportFng Standar¢Y applicablè in the UK and Republic of IreL7nd IFRS 1021. ObiÈetive$ and activities Since Akrarn Khan Company {AKCI was founded 0¥8r ￿entY years ago. our uncompTomising ¢ommilment to excellence. innovation, diversty and artisti¢ risk has positioned us as one of the most influential and successful dance companies in the UK and the worfd. Our productions range from kathak and modern solos lo artist-to-artist collaboraiions and ensemble works. A milestone in the Company's journey was the creation of a seGtion of the London Otyrnpic Games Opening Ceremony in 2012, perfomied by Akram and frfty dancers and seen by over two billion people worldwide In re¢ent yesr5. we ueated high-quality family and chikyren-friendty versions of Qui larger productions. which have had Iremèndotss UK and global 5ucce5s in nurturing an appreciation ol dance by youngef audiencès. The Company was founded bn 20C(I by dancerlchoreographer Akram Khan {British born ol Bangladeshi descRntl and producer Farooq Chaudhry Ibom tn Pakistan. iaised in the UK). As South Asian men who have 5ttad(Jled h¥0 worfds throv9hout their personal and professional INes, they have transcended Jrtural labelling and. as a c4)nsequence. created conlemporary dance work that champions uniwersalism. What mattels is 'story and not colourf and, further slill, 'my story 15 your 510ry. Our sucGe55 has been achieved through the combination of dual leadership. unflinching artistic ambition and enlrepreneufial business acumen and we continue to build on excellence, urtivèrsal appeal and experimentation We Work across disoplines wrth an intematK)nal team of Ihe best pfofeswonals ai all levels- artists. technicians and administrators. We take risks, think big, explore the vnfamiliar. avoKI compromt5e and tell stories through dance that ale Compelling and re￿Want. with artisb"c inlegcty. The objects for which the Company is esta￿lS*￿d. as set out in the goveming (Jocument. afe.. To advan￿ the arts and culture for the benefrt of the general public by promoting. in the UK and internationalty, modem dance and Oiher art fom)s induding. wrihout limitation. films and Mus￿. wrth part￿Ular. but not exdusive. referen￿ 10 touring performances and to the work of Akram Khan. ark To advance the educaiion of youn9 people, dance practitioners and the general publi¢. with particular reference io the 3rriStiC Wofk of the Charity, particularty. but not exdusively. through the provision of workshops, classes and performances. purpose and aims of Akram Khan Dance Company are intended for the bÈnèfft of the public. The Company engages the public through the creation and Publ￿ performances of high qualty, cutturally relevant artistic work, and thfough ed(￿tIOn and legacy pioiects. In shaping our objectives for the year and planning oui att￿rtieS. the trustees have considered the Charity Cornmission's gutdanc£ on public benefft. induding ihe guidance 'public benefrt." running a charity IP821. Akram Khan Dance Companv lknmited by Guarantee) Trustees. report Achievements and perfomiance The ¢ornpany's touring schedule remained voktile due to the COVID pandemi¢ and èver£hanging mandatory quarantining lestr￿lI￿$ worldwide in Ihe 2022123 financial year (April 22 - March 231. We continue(1 lo rnonitor Ghanges lo Governmeni gusdan¢e. and adapting our plans as needed trying to Postpone perforrnances or proiects as much as possible rather than accept hard cancellalvjns. The Company delivered a total of 106 perfomances acros5 92 venues in 17 countries within the year. Xenos Due to the risè of the Omiuon variant IA Indsa, the perfoimarKes li Mumbai weie postponed trom Juty to November 2022. unfortUn*e￿. these performances were unable to happen in November due to the diffwlt financial situation in India and have been postponed to Ihe 2023124 financial year. Akram delivered his very last performances of XENOS at NCPA ￿ Mumbai {24 8 25 June 20231, markin9 the official end of his performing career. Chotto Xen There were 11 performances a¢ross S venues wrthin the 2022123 financial year. 3 pèrfomianees were cancelled. The final performances of Chotto Xenos were deliver￿ in Pama Iltatyl on 10.11 & 12 of Nov•mber 2022. utwittin theD There were 8 performances across 5 venues tArthin the 2022Q3 finanual year. The performances Ingolsladt IGermanyl on 25. 26 & 27 of Odober 2022 were meanl to be the final pèrformances of this productyon. although Outwitting The Devil relumed as a slandak)ne engagement at the Shanghai International Festival in Oaober 2023. Kaash Revival There were 4 UK performances of Koash within Ihe 2022123 )Snawal year. Jun le Book Reima ined After the world premiere al Curve Leicesler on 7 of Aprjl 2022. Ibe￿ were 79 Ferfomiances across 28 venues within the financial year. L•gacy projects We deliv?r¢d ￿ workshops across 78 sessionsldays engaging wilh 719 indiv￿￿al$. induding 149 participants in the UK. Our workshops were delivered to an intematronal audience in 13 different o)Jnlriès around the world from the UK and Europe lo Asia. Teacher trainin In September 2022 we began a 2-year Teacher Training programme. fvnded by the Paul Hamlyn Foundation'Teachèrs' Devek)prnent Funrt. to develop dance Wrth￿ schools In the London Borough of Tower Hamlets. The project is managed and delivered by Emma Bellerby. a dance education specialist, who eame into the new role as Creative Learning Manager tn September. We are working with five schools (including Spec￿1 Educational Needs dasse51 to introduce the Akram Khan Company approach of (Sance-rnaking and storytelling to tea¢hers. supporting them to become leaders of dance in their own schools. Working In partnership with each School. we ale contextuali5ing dance lor lea¢hers Akrarn Khan Dance Companv (Limited by Guarantee) Trustee< ￿port and exploring how lo Cor￿eCt rt to the currrculum ir) a meaningful way. Our ambitious aim is that dance will continue to be a key part of the curriculurn once the project ends. allowing the legacy of this spe¢ial project to continue. From Septembef io Mard). we delivered 113 sessions. leathing workshops to our cohort of 10 tea(*er5 and approximatety 300 ¢hildien on a regular b8sis. This is a new way ol working forAKC. our first ever sustained. hyper-l¢xal projecl that is building extended partnerships with 5chool$ in Tower Hamlets. Summer Intensive 2 Ifast AKC collaboraled with Theatre and Dance Nl. Northern Ireland's reading support or9anisation for Theatre and Dance. and the MAC Bellast. Ihe cultural hub and beacon for the tsngoing re9ener#tion of the crty. to host the Intensive In their awartj-winning venue in BeKasfs C#ihe¢Jral Quarter. Under the dirèction and mentorship of Akram Khan and Mawn Khoo, and AKC assouate artist Joy Alpuerto Ritter, 30 selected participants were given a unique opportunity t() chaI￿nge their own praclj'ce. immerse themselves in a creab.ve procèss and broaden their artistic horizons during a stx-day prograrnme. Th¢s edilion expanded Into a choreographic lab where 3 carefully curaled choreographers had the opportunity to explore and develop their idea5 and their process with part¢Gipanls in the studio. a5 parl of their artisb"¢ iourney. Following AKC'S commitment to Sup[￿ the rbew generation of dance artists. ihe Summer Intensive fees fof the 30 partirypan15 were entirely covered by AKC and TONI, as well as local subsistence costs. ci sical In nsiv n¢Ji AKC'S second Classical Intenswe. Seeking Satori, was a svx4lay Immersive training programme and mini lecture-demonstrations fèstival Ihat took place in Kumbakonam. Tamil Nadu. AKC inviled 12 Bharatanyatarn dancers and 12 Kathak dancers based in India to immerse ￿ training and en9age in a dialogue be￿een generatt>ns of Intjian Class￿1 (Jan¢ers. alongside 25 highly-esleemed musicians, observers and guest artists. Following AKC'S ¢ommitment Its support trte new generation of danc artists. the Classical Intensive programrne (par￿1panIS fee5, local expenses. artists fees) was entirely funded by AKC tn partnership with Saraswatham FOundat￿n and EnArl Consulting. Sk Arts Yèar Z Following the SU￿esS of Ihe Artist-(Jevelopment programme that we developed last year with Sky Arts, lo provKle support and mentoring to developing artists. we were lucky enough to secure furthef ftjnding from Sky Arts, and this year we chose to work wrth 3 artists on their respective creation project - Mythili Prakash for her 5010 work. and Joy Alpuerto Rrtter and Hannes Lang0￿ on their duet. This programme gave these artists the opportunrty lo lurther develop and produe£ their projects. The programme once again provided finarrial 5vbsidy l£11.000 pec proJe¢tl. one-to-one mentoring se5siofbS Wlth Akram and Ihe AKC team. and an audio-wsual documentalion of theif process and mentoring relationship with Akr8m Khan. Oigilal Engagement Building on the Company's Su￿$fUl engagement strategies durtng the pandemic. our ￿Mm￿Ment to digital infciatives remains pivotal in complimentin9 the narratives brought to lrfe on stage. Cla sical intÈnswe In t*e 2022123 year of oyr digttal ioumey. the Company'$ 2022 Summer Intensive was documented by Ouf video artist Maxiffle Dos. Through five engagifi9 bile-size fdrns, we chronided the week'5 &xperiences. sharing thern daily. The impact was significant, gamering 30.3k impressions and leaching over 133k on Instagram, as well as 79.3k impressions and a reach of 75k on Facèbook This immersive journey culminated a compellin9 documèntary. synehronised with the launch tsf thÈ re-dèsigned AKC website in o￿ober (from 19 O¢t- 31 March 2023 5.3k views). Akrarn Khan Dance Company (Limited by Guarantee) Trustees. report Soaal medi As we navigate the ever*vofving landscape of swal rnern Gener￿lY Accepted Ac¢ounling Pra¢li¢e'. and - have been prepared in a¢¢¢rdance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance wilh Internaiional Standards on Auclting IUKI IISAS (UK)) and aF)pli¢ablÈ law. Our responsibilities under thosè Star￿ardS are further described in thé Audilor's responsibililies for the audil of the financial staiements section of our report. We are independent ol the ¢harii*e company in accordance wth the ethic* requtrements Ihal are relevant to our audil ol the linanoal slalemants in the UK, inclu¢Jing the FRC'S EÉhical Standard, and we have lullilled OLJr other ethical responsibilities in accordance wlh these requiremen15. Wè btrlieve that the audit ev*Jence we have obtained is sulficieni and apprgyiate to prowde a basis our tynion. Conclusions relating to going con¢em In auditing the financial statements, we have concluded that the trustees. use ol the going concern basis ol accounting in Ihe preparation ol Ihe financial statements is appropriate. Based on the work we have ￿rformed. we have not idenD"lied any material un¢ertaints"es relabng to evenrs or condilions that, indiwdually or colle¢hvèty. may cast signiheant doubt on the charitable companls ability 10 continue as a gong concern for a pertod ol at least twelve months from when the financial statements are authorised for issue. Our reswnsibilitEs and Ihe rè$Fx)nsilylTbes ol the iruslees ￿th resrect to going concern arè described in the relevant sections ol this report. Other inlorm•ion The other information comprisÈs the Information included in the trustees annual report, other than the financial statements and OUT auditors reFQrt thereon. The trustees are ￿s￿)nsIble lor the other information contained within the annual report. Our opinion on the linancial statemenis does not cover the other irlormatson and, except lo the extent olherwise explicidy statèd in tyjr report. we do not express any form ol assurance conclusion Ihereon. Our responsibility is to read the other information and, in doing SD, consider whether the other information is Materi￿lY inconsisient ¥￿th the financial statements ￿ our knowledge obtained in the ¢our5e ol the audit or othèwse appears to be materially misstated. If Ksentify such material ineonsislencies or apparent material misstatements, we are required to detèrmine whether this gives risè to a material misstatement in the financial siatements themselves. 11, based on the work we have performed. we conclude ihal there is a material misstatement of this other information, we are required to report ihat lact. We have wlhing lo report in this regard. Indepèndent Audilors. Rèport to the Members of Akram Khan Danca Company Opinlons on other matters prescribed by the Companies kt In our opinion. Imsed on the undertaken in the course ol the aud5t: the information given in the trustees. reF*Jrt (in￿porab"ng the threGtors' report) for the financial yèar lor which the financial statements are prepared is consistent wth the linancial statements". and - the directors. reFQrt has been prepared in accor￿arKe wilh appli¢able legal fequirements. Matters on which we are required to report.by exception In the light of our knowlèdge and understanding ol the charitatye ¢ompany and its environment obtained in the course ol Ihe audit, we have not identified material mi55taiemenls in the directors. report. We have noihiTrJ to ￿pOrt in r&S￿¢t ol the lollowiro matters in rela￿On to which ¢he Cornpanies Act 2006 requires us to Feport lo you il, in O￿nIon.. - adequatè aceuJnb'ng records have r￿t been kept, of rebJrns adequate lor oui audit have not teen received Irom branches not ￿￿ted by us., or . the financi￿ statements are not in agieement Ihe accwnb'ro records arwJ returns.. or - Certain discl¢sures of directors. remuneration specihed by law are not made,. or - we have not received all the inlormaiion exF4anath)ns we require for OLJr audit,. or the trustees were not entiued lo prepare the financial statements in acwdance wilh the small ¢ompanies' regirne aTrJ take advanlage ol the small companiè5' exempt￿￿5 in preparing the directors. report and from the requirernent to preparè a Strateg￿ report. Responsibilities ol trustees A5 explained more fully in the trustees. re¥￿sibIlit￿eS statement set out on page 9, the trustees Iwho are also the directors ol the charitable company for the purposes ol company lawl are responsible for the preparation ol the financial staiemenis and lor being saD"sfied that (hey give a true and lair view. and for such inte¥nal control as the trusiees det8rminè is necessary to enabje Ihe preparation ol financial $18Eements that are free from rnalen￿ misstatement. whether thè ￿ iia4JJ or èrror. In preparing the linanaal statements, the trvsieès are resFonsbi le for assessiThJ the charitable companfs ats'lily to conlinue as a going concefll, disclosing, a5 aJ)plICab￿, matters related lo going concern and usino the g￿ng concern basis ol accountir4J unless Ihe trusiees eilhei intend ￿ I￿ul￿ale (he charit*e company or lo cease operatsons. or have no realistic alternabve but to do so. Auditor's responsibilities far Ihe audit ot the linanesal slatements Our objectives are to obiain rèasonable assurance aboth whether the financial 51aiements as a whole are free Irom material misstatement: whether due lo Iraucl or error, and lo issue an auditor's report IhaE includes our opinion. Reasonable assuranTr is a h￿h level of 8$51Jrance, but is not a guarantee thai an audit conducted in accordance with ISAS IUKI wtll always detecl a material misstatemeni when Il exisr5. IAisslatemenls can afise from fraud or error and are consthred rnalerial if. individually or in the augregate, they could reasonably be expect￿ to influerte the economic decisions of users taken on the basis ol these nancial statements. 12 Independent Auditors, Report to the Members"of Akram Khan Dance Company Irregularibes, inclurfing Iraud. are in5tartes ol non-complianee with laws and regulations. We dèsign procedures in line with our reswftsibilities, ouuined above, to detect material rnisstatèTrents in respect ol irregularities, including fraud. The extent to wh￿h our procedures are cawe ol delecting irregularits'es, including frau¢ rs detailed below.. Chjr asse55rnent I￿U$$ed on key laws and regulations the charIta￿e company has 10 comply with and eas ol the financial statements we assessed as being more suscepiible 10 misstatemeni. Thes9 key laws and regulabons included but were not limited to Com￿lanCe ￿th Companies Act 2006. Charities A 2011. iaKaboN legislation, data wolectton and emF4oyment legisl3b"on. We aré not rèsponsible for preventing irregularits"è5. Our approach to dètecting irregularities in¢ludèd, Lxjt was not limited to. the following.. - ¢Jbtaining an urKletslandir&J ol the leg￿ and regulatt)ry framework applicak4e to the charitatle company and how the charitable company is complying with that Iramework, IrbcILKling agreement ot financial statement disclosures to LJndÈrlwng documentation a￿1 other èvidence," obtaining an uncserstanding ol the charila￿e company's Control envifonrnent and how the charitable company has applied relevant control procedures, throtjgh discussions wth Trustees and other management and by performing walkthrough iesèng 0￿1 key areas.. obtaining an urKlerstanding ol Ihe charifthe company's risk assessment pyocess, induding the risk of fraud". - reviebMn9 meeting minutes ol those charged *7Èh gov&maA¢e thfoughout tha year: and performing audit iesling to address the risk of managernenl overrrtfje of ctrntrols, including testing journa entries and other adjLtstrnents for appropriatene55. evaluating the business raty'onale of signilicani transactions outside the normal course ol business and revièwing accountin9 estimates lor bas. Whilst conshlering how ovr audil work ai*kessed the detection ol irregulariliès. we also consdered the likèlihood ol detection based on our approach. Iiregulari)es arising from Ira￿ are inherently more difficult lo doi¢¢t than thos¢ arising Irom orror. Because ol the inherent limitations of an aLMJit. there is a risk thai we wll not delect all irregularities, including those leadlng to a material misstatemersl in the financial staigments or non l.e64,137 E¥perntnur•on'. Ratsing lurés.. Furthatyng ¢harii*e athvitibl". ThÉatre. 17 21.W) 21.000 2J4IO78 6.585 2.W.463 1.XOJSI 1.510￿7 2J41M78 2￿6￿5 2.56&,￿ 1521J51 10.Qm) I.￿1￿51 Nol leAwditurelfincrAThTr Rec¢*cIIWityJ of fuThds.' Tot*1 lor*ard 1176.1271 {195.Y31 1371*70) 117.786 15.L¥X) 132,78S .927 275￿ 875.W2F 543.141 Total fvndsC3￿Iudfarn￿rd 19.457 M257 660.927 215. 875.927 ThÈ ￿leS￿n pages 21 to 29 fum an Intewalpar ottw sla1￿￿5. 15 Akrnm Khan Dance Company (Llmiied by Guaraniee) Year ended 31 March 2023 2023 In¢ome from donations and legacies Grant$ Emergency COVID-19 funding Arts Counal England - CAF HMRC Coronawrus Job Relenton Schemè 280.000 11.271 291,271 Arts Counal England - NPO Iv￿ling 509.821 509,821 509.821 509.821 Caprfal Group Sky Arts 20.000 18.295 12,922 30.0¢ 38,295 42,922 Donations Donations 2.649 15,492 2,649 15.492 550.765 859,506 Income Irom chariL*le aetivilies Th&￿re Theatre income UK performance fees Internatronal KErforrnance lees Co-produeiion inwrne Special education woiects Workshops Fees receivable Other income 126.637 1.016.606 436,292 118,500 602,938 25,000 7.324 26,352 3,500 10,865 32,809 2.500 1,614,844 794.479 Projtet specific lunding Grants British Council Genesis Fund The Paul Hamlyn Founoation 15,000 10.000 16,042 31,042 10,000 1.645.886 804,479 AkTrm Kh•n Oance Company (Llmited by Guarantee) Ye•r ended 31 March 2trZJ 20 Expenditurè on eharitablo activities Theatr¢ Produclion cosls Dancers, lees Artistic directoi fees Producer féès Rehea¥sal costs TèChnicaVc￿a1￿È Gosts Sètslcosiumes Soun¢JllighVother technical cc6ts Other production ¢o$ts Touring costs Markelintypromob'on Royalts'es 280,460 120,000 126,733 418.442 269,220 80,080 269.876 105,087 205,453 40.497 S4.636 91,573 70,000 88,750 76,473 202,890 4,702 5,994 28,441 110.660 57,630 105.824 1.970.484 853,937 Supporl and governance costs- page 18 597,979 656,414 2.568,463 1,510.351 17 ram Khan Dan¢• Company (Limited by Guarantee) Year ended 31 March 2022 . 2023 2022 Support and goveman¢e ¢o$t$ Support costs Office overhead$ RenUrate51room hi¥e TelephOn￿Enternet Insurance Siorage Equipm¥nUrepairslmaintenance Ctsmputèr costs Depreciation of eqijipment 32.597 10,185 21.949 26.362 1.402 8,696 9.546 33.304 9,537 25,531 24,337 1,925 5,944 5.960 110.737 106,538 Adminislration ¢osi$ Salarieslfees SOCI￿ sècurity cosis Stall pension costs Siaff welfare Work permits Travellsubsistence Entertaining Prinlinglposlagelstalionery Subscripts'onwlicerces Sundries Charitable donalKJns 395,284 29.572 13,187 1,573 6.261 21.423 429, 194 23.044 8,151 896 8,072 8,191 1.225 1,096 1.347 22,036 1,490 2,076 722 474,131 501,302 Professionallfinancial Research and developrnent Legallprolessional Bank charges Bad debts Isvrplu5lldelicil on foreign exchange 6,944 1.168 2.024 5,998 12,969 1,648 60 20,649 15,8301 4.306 41,324 Governan¢e ¢osts Accountan¢y1￿￿5UltancY Audit 3,000 s.000 3.250 4.000 8,000 7,250 597.174 656,414 Deficit on disposal of rangl￿e lixed assets 805 597.979 656,414 18 Akrnm Khan Dance Company (Limited by Guarartee) Balance Sheat . 31 Mareh 2023 Notes FIX￿ asset$ TaTraible assets 3S.236 ,373 Current assets Debtors Cash at bank artd in hand SOO,626 315,255 1.306,089 355.540 815.881 1.661,629 LiabilitÉos Creditors.. arnounts falling due within one year 10 1346,8601 1822,0751 Net current ass¢ts 469.021 839,554 Total asset$ less Current liabilities 504.257 875,927 The funds of thè ehaiity Unrestricted lund$ General lun Oesignated funds 13 142.002 342,798 127.641 533,286 484,800 660,927 Restricted incorne furnjs 14 19.457 215.000 Total charity funds 504,257 875,927 The trvsiees have PTepafed these accounts in ace¢ydance ￿th sectTon 398 of Ihe Companies Act 2006 and section 138 01 the Charities Act 2011. These accounts are prepared in accordance with the speciat provision5 of Part 1 S ol the Companies Act relating to small companies and constilute the annual accounts . required by the Companies Act 2006 and are tor circulabon lo members of the company. The acceunts we approved by thè P£*ard ol Trustèès on I S DècÈmt*r 2023 sigrftd on its b8h811 by Gurnek B#in¥ {Chair) Trust¢• The notes on pages 21 to 29 lom an integraf part of th￿ linanc¢J statements. 19 Akr￿ Khan Dancè Company . (Limited by Guarnntee) Cash Flow St*Èmefit for Ihe year ended 31 March 2022 Notes Cash flows from operating a¢tivttle$ 18 131.2131 1294,9491 Cash tlows from invesiing activities. Dividends, interest an¢J renls Irorn investments Pijrchasè of property. plani and equipment 142 (9_2J41 152 122,0311 Net cash provided by investment xtivilies 19.0721 121,8791 Change in cash at bank and in haThd in the reForbng FerKxI Cash at bank and in haThJ at the teginning of the reportiThJ per {40,2851 1316,8281 355.540 672,368 Cash al bank and in hand at the end of the reporting period 315.255 355,540 20 Akrnm Khan Dance Company (Limited by Guardntee} Noies to Ihe Finaneial Statements l¢r the yw endad 31 Mar¢h 2023 Accounting policies 1.1. Basis ol preparing the financial stalements The linaTrci￿ statements have teen p￿pared in accordance wth Accounting and R*porting by Charith'es= Ststement ol Recommended Practice (issued October 20191 applicawe to charities pieparing thèir accounts in accordance wth the Financial Reporbng Standard aOicable in the UK and Republic of Ireland {FRS 7021 lefleGtIVè l January 20191- Icharitiès SORP IFRS 10211, and the ompaniès Act 2006. Thè chanty meets Ihe delinrtion ol a beneht ents.ty under FRS 102. Assets and liabilities are inilially recognised at h551orical cost or transactitin valuè unless Oiherwise staled in the re18vant accounling policy not&s. 1.2. Incoming resources All In¢oming resources are incjuded in the Staiement ol Financial Actiwties when.. the chanty 15 legally entstled to the lynds - any pertormanGe conditions attached to the income have been met or are fully within the control ol the charity - there is sufficient certainty that receipt ol the income is Consthred probable - the amount can be rneasured - Donations and legacies GranlsldonatK)ns are recognised in incoming resour¢es in the year in which they are r&¢#iwdble, except as follows.. when ¢*nors specity that gran￿dOna￿0ns given to the charity niU5t be used in I￿re accounting periixls, the in¢omè is dèferred until those ￿￿()￿$ when clonors impose conditions which have to be lulh.lled before the charity be¢omes entr'd8d io use such income, the income ts deferred and not inclLhJed irb incoming resources unb"I the preconditions lor use are mel. - Charitablè a¢tivities Theatre income - income Irom box ollti, Ferformance lees and stjndry other theatr￿al. incorne is included in incoming resource5 in the peri￿1 in which the relèvaNI show lakes ￿aCe. Proieci sp8¢ifi¢ funding when donors specity Ihal donations and grants are for parti¢ular resiricted rwses, which do not amount to we4ondib.ons regarding entillemeni, this Incomè is included in incomrng resource5 01 ￿Str￿CIed tunols when receiv*4e. - Investmènt income Interest on funds hèld on dewsit is included when rec¢iv*Atr and the amount can te measured reliabty by the charity.. Ihis ts rK)rmaly UP￿ notrfication ol Ihe inkresi paid or payable by ihe Bank. 21 ram Khan Dance Company (Limited by GuaraMee} Noies to the Finaneial Statements for the year ended 31 March 2023 1.3. Expenditure All expenditure is included ofi a¢¢ruals basis inclu￿￿ ol any VAT which ¢annot be recovered and is recognised when.. - therè is a legal or conslwctive otligation fo make a payment il is prOba￿e ihal sgtdemgnt will be reqLufed - the amounl of the rtJigation can be measureo rella￿Y - Cosls ol raising lunds Costs incuried in attracting donalsons. and those irKJJrred in.trading activities Ihal false flfnds. Charitable a¢tivilie$ Thealre pr(x4u¢tion costs . costs incurred in k¥oJLttion aThJ running ol pr¢)JuctN)ns toured in the ye￿. - Support ¢0$ The administral've and overhead ￿St$ associated with running the office from which the company operales as well as governance costs. Sukwrt costs are wholly attributsWe to thealre production costs. - Governance costs Costs asso¢iated *7th Ihe consbtub'onal aThJ slatutory requirernents ol the charity. 1.4. Fund accounting Funds held by the charity are eilher= Unrestricted general lunds ihese arè furth whtch can be used in a¢¢¢ydance with the charitable .objects at the dis¢reknon ol the trustees. Designated funds - these are unrestricted funds of tr* charity which the truslees have decided at their di5crets.on to set asKle fo use for a specific WfFY)se_ Restricted funds - these a￿ funds that can only be used lor particular restricted purposes within the objects ol the charily. Restrictions arise when SFecified by the donor or when funds are raised lor particular restrithd pvrpJses. Further explanat.on of rhe nature and purpose ol each lund is induded in the note5 to the financial statements. 1.5. Tangible fixed assels and dèpreeiaiion Indwidual fixed assets costing £100 or more are cat41alised at cosi. Depreeiatiort is wovided at annual ratès calculated to write ofl the ¢ost less residLral value ol each asset over Its expe¢te 484,8C(J Ringfèneed reseThè lund This fund reFyesents a ngnfenced amouni equivalent to a three monih kYovi&on shoLtld the charily Cease opèrating. Pr¢Jject lund Hawng used a kjt ol our big co-pr(*u¢er contacts io fund Xenos, we created the proje¢t fund to undeThvrile the costs of luture projects whTr¢h may fequire a hoher level ol fuThYing. Legacy projeei$ Our designated Legacy lurKS supports artisb"c, educalionaF and frainin9 projects that ensvre the conbnu&"on of Akrarn's ¢horeo9rapbic legacy and AKC values. 14. Re$tri¢ied fund$ 8roughl In¢¢yning Outgoing forw¥rd resources o$oure•s Carried fonvard Jungle 8ook Creative Engagefflent- Sri Lanka Teacher Development Fund 21 S.000 1215.0001 15.000 16.042 15,0(Kl 4,457 111,5851 215.000 31,042 1226.S851 19,457 Jungle Book Fu￿S received Iroffl Garfield Weston Foundation Weslon Culture Fund, Genesis Fufid and other donations towards the creation and roheaKsal 91 Jungle Bwk which wemier80 in April 2022. Creative En9a9ement- Sri Lanka Funds from Britssh Council towards the proiecl Creative Engagemeni Ex￿rience, Sri Lanka 2023-24. Teacher Development Fund Funds received from Paul Hamw FouTrJation tcrrtards the Teacher Developmeni Furn1. Akram Khan Dance Company (Limhed by Guarant8e) Notes to the Finan¢ial Statemenis lor the year ended 31 March 20Z3 15. Analysis of net assets between funds General fund$ Oesignated lunds Restricted funds Total Fijnd balances at 31 March 2023 are represented by= Tangible lixed assets Net current assgls 35,236 106.766 35,236 469,021 342,798 19.457 142,002 342.798 19,457 504,257 16. Financial commitments Al 31 March 2023 lh• company had total fvture cfjmmrtrnents under non-canceljaiye q)erating leases as follows". 2023 Due.. Within one year Belween on$ and live years 24,209 25,349 23,069 24.209 48,418 17. Rèlated party transaetions During the year the company had no related party trartsacbons thal required discbsurè. 18. Reconciliation of net incomdlèxpenditur•) to net cashtlow Irom opèrating aetivtties 2023 2022 Nei incomellexpgndilurel lor Ihe reporting pèriocl las per the staterneni ol linanciJ aetiwtiesl Depreciaiion Dividends, interest and rents from invèstménts Deficit on the 5a(e of fixed asssts Decreasellincreasel in debiors ID8creasellincreasè in erÈdrtors 1371.6701 132,786 9,546 11421 805 805,463 1475,2151 S,960 13521 1968,0911 534,548 Nel cash outflow from ope￿Ing aciivitiès 131,2131 1294,9491