Docusign Envelope ID.. E5F41968-61 FC4AA6-B9CF-5045F3COIA74 Company number 04342933 Charity number 1169593 Akram Khan Dance Company (Limiled by Guarantee) Report and Financial Statements for Ihe year ended 31 March 2025 Breckman & Company Ltd Chartered Certified Accouniants 49 South Molton Street London W1 K 5LH
Docusign Envelope ID.. E5F41968-61 FC4AA6-B9CF-5045F3COIA74 Akram Khan Dance Company (Limiled by Guarantee) Contenls Page Reference and Administrative Details Trustees, Report Auditors, Report 10-13 Statement of Financial Activities {including Income and Expenditure Account) 14-17 Balance Sheet Cash Flow Statement 19 Notes to the Financial Statements 20-29
Docusign Envelope ID.. E5F41968-61 FC4AA6-B9CF-5045F3COIA74 Akram Khan Dance Company (Limiled by Guarantee) Refence and Administraiive Deiails Constitution The charitable company is a private company limited by guarantee registered in EW - England and Wales, company number 04342933 incorporated under the Companies Act and its governing document is its Memorandum and Articles of Association. The company is a registered charity, number 1169593. Direclors and truslees The directors of the charitable company (Akram Khan Dance Company) are its trustees for the purpose of charity law and throughout this report are collectively referred to as the trustees. Policies and procedures adopted for the induction and training of trustees are ongoing and incorporated indirectly into the regular trustees meetings. The trustees during the year and since the year end. were: Anais Aguerre Gurnek Bains (Chair) Emma Birchall Victoria Brown Anila Kirpal Nicole Newman Turner resigned 21 March 2025 Mary O'Reilly resigned 10 July 2025 Dipali Sahni {Chairl resigned 13 December 2024. re-appointed 19 May 2025 Jeremy Shakerley resigned 13 December 2024 Denis Shafranik Abha Thorat-shah Rick Wentworth resigned 13 December 2024 resigned 19 May 2025 resigned 25 September 2024 resigned 27 September 2024 appointed 21 March 2025. resigned 23 April 2025 resigned 13 December 2024 Secretary Jane Taylor-Holmes Emma Porteous resigned 18 June 2025 appointed 18 June 2025 Artislic Director Akram Khan Producing Director Farooq Chaudhry Day lo day management Jan Hart (Finance Director) Isabel Tamen (Executive Director}
Docusign Envelope ID.. E5F41968-61 FC4AA6-B9CF-5045F3COIA74 Akram Khan Dance Company (Limiled by Guarantee) Refence and Administraiive Deiails Auditors Breckman & Company Ltd, Chartered Certified Accountanls, 49 South Molton Street, London W1 K 5LH. Bankers HSBC, 25 Islington High Street, London N19LJ. Solicitors Bates Wells, 10 Queen Street Place, London EC4 1 BE. Regislered office and operalion address Mirror Worf(s, 12 Marshgate Lane, London E15 2NH.
Akram Khan Dance Company
(Limited by Guarantee)
The Trustees present their annual report together with the financial statements of the charity for the year ended 31 March 2025, which are also prepared to meet the requirements for a D report and accounts for Companies Act purposes.
The reference and administrative details set out on pages 1 and 2 form part of this report. The financial statements comply with 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).
Objectives and activities
Since Akram Khan Company (AKC) was founded over twenty years ago, our uncompromising commitment to excellence, innovation, diversity and artistic risk has positioned us as one of the most influential and successful dance companies in the UK and the world.
Our productions range from kathak and modern solos to artist-to-artist collaborations and ensemble Games Opening Ceremony, performed by Akram Khan and 50 dancers and seen by over two billion people worldwide. In recent years, we created high-quality family-friendly versions of our larger productions, which have had tremendous UK and global success in nurturing an appreciation of dance by younger audiences.
The Company was founded in 2000 by dancer/choreographer Akram Khan (British born of Bangladeshi descent) and producer Farooq Chaudhry (born in Pakistan, raised in the UK). As South Asian men who have straddled two worlds throughout their personal and professional lives, they have transcended cultural labelling and, consequently, created contemporary dance work that champions universalism.
Our success has been achieved through the combination of dual leadership, unflinching artistic ambition and entrepreneurial business acumen, and we continue to build on excellence, universal appeal and experimentation. We work across disciplines with an international team of the best professionals at all levels - artists, technicians and administrators.
We take risks, think big, explore the unfamiliar, avoid compromise and tell stories through dance that are compelling and relevant, with artistic integrity.
Through the meeting of worlds, we invite people to see, dream and reflect on the beauty and complexity of being human.
Our core values are: Courage Curiosity Caring Collaboration Connection
These values are reflected throughout the Company; in our productions, our digital and Legacy projects, our organisational structure and in the worldwide relationships we build and maintain with artists, collaborators, venues, festivals and funders.
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Akram Khan Dance Company
(Limited by Guarantee)
The objectives for which the Company is established, as set out in the governing document, are:
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To advance the arts and culture for the public benefit by promoting, both in the UK and internationally, contemporary dance and other art forms - including, without limitation, film and music - with, though not exclusive, emphasis on touring performances and the work of Akram Khan.
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To advance education among young people, dance practitioners, and the wider public, with a - especially, but not exclusively, through the
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delivery of workshops, classes, and performances.
The purpose and aims of AKC are intended for the benefit of the public. The Company engages the public through the creation and public performances of high quality, culturally relevant artistic work, and through education and Legacy projects.
In shaping our objectives for the year and planning our activities, the Trustees have considered the Charity Commission's guidance on public benefit, including the guidance 'public benefit: running a charity (PB2).
Achievements and performance
Thikra: Night of Remembering
Thikra: Night of Remembering (site-specific outdoor version) premiered on 25, 26 and 27 January 2025 in AlUla community of AlUla. The production is being adapted for indoor venues, co-produced by Berliner Festspiele, Brown Arts Institute at Brown University, Montpellier Danse Festival, Pina Bausch Zentrum, being supported by the Bagri Foundation who have awarded us £75k. A creation period was held over world-class international dancers, featuring an original music score by award-winning composer Aditya Prakash, Sound Design by Gareth Fry, Lighting by Zeynep Kepekli and uniquely designed costumes and set by Manal AlDowayan. The evocative performance and its dancers embody the concepts of forgetting, collective learning and healing, exploring the idea th
Chotto Desh
Chotto Desh (our solo family production aimed at 5+) toured extensively for 48 international and 5 UK performances, including school performances, across Lucca, Genova, Ipswich, Chamonix, Prague, Oxford, Essen, Galway, Arcachon, Mulhouse, Saint-Quentin-en-Yveline, Perpignan, Monaco, Lille, has toured to Baltic countries. Galway was a particularly poignant performance run, further developing our relationship with Ireland where the production was remounted in September 2023 with in-kind repertoire, facilitating access for young people to high quality dance and theatre and sharing a culturally rich yet relatable story to inspire a new generation.
Jungle Book reimagined
There were 27 international and 2 UK performances of Jungle Book reimagined between April 2024 and March 2025. This included a first visit to Bradford as part of their 2025 City of Culture celebrations with wider touring spanning Riga, Macau, Brno, Winterthur, Luxembourg, Leipzig, Ludwigsburg
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Akram Khan Dance Company
(Limited by Guarantee)
Schlossfestspiele, Helsinki, Fuzhou, Tbilisi, Shanghai, Hamburg and Poznan. The production will not tour further, following performances in Abu Dhabi, Ingolstadt and a final run in Japan in June 2025.
Legacy projects
In 2024/25, the Legacy team delivered workshops and projects across 20 locations in the UK, Europe and Sri Lanka.
Our third Classical Intensive, funded by the British Council, took place in Jaffna, Sri Lanka. The 2024 programme focussed on Bharatanatyam; Creative Associate Mavin Khoo, the intensive brought together 32 invited artists for a rigorous and reflective creative journey.
We delivered two Unplugged projects in Portugal and Belgium, offering students in vocational training creative processes and philosophy.
We also began our ambitious partnership with Dance United Yorkshire on Memories of the Future , an intergenerational community performance commissioned by Bradford UK City of Culture 2025.
Our flagship education programme, Moving Stories , culminated in a series of teacher-led CPD sessions and 14 school performances, reaching 2,521 children across East London.
Finally, we delivered 25 repertoire workshops in partnership with tour venues, dance schools and worldwide.
Digital engagement
We have continued to evolve our digital engagement strategy, using film / photography and social media to offer our global audience behind-the-
A key focus this year was content creation surrounding Thikra: Night of Remembering, our final touring production. Our filmmaker documented the full journey, from early R&D to the site-specific performance in AlUla, capturing community engagement, creative development of the piece, and the adaptation of the work for theatre spaces.
We also broadened our digital offering to further showcase and preserve the work of our Legacy projects. This included a second mini documentary for Moving Stories , and a new 18-minute film for Memories of the Future , screened ahead of live performance and set for online release in October 2025. For the third edition of the AKC Classical Intensive, produced in partnership with the British Council, we commissioned a local photographer and videographer to document the process of this unique experience.
On social media, having invested in highgrowth across Instagram, Facebook and YouTube, which remain our priority platforms amid ongoing uncertainty on X.
As we look ahead to the final phase of the Company, we are refining our digital voice to ensure our Legacy is communicated with impact. With audience attention spans continuing to shrink - average
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Akram Khan Dance Company
(Limited by Guarantee)
watch times on platforms like Facebook and Instagram now under 10 seconds - we are actively evolving our content strategy. This includes experimenting with shorter, more dynamic formats to better capture and sustain interest, while also engaging new audiences.
Financial review
The Company is funded by Arts Council England and has received regular annual funding for 18 years. It is currently a National Portfolio Organisation, and 2024/25 was the middle year of a three-year funding agreement which runs from 1 April 2023 to 31 March 2026. The Company reports to ACE through quarterly monitoring and an annual statistical survey and report. Most of resources are generated through earned activity income, principally international and UK touring.
Because of our strong and relatively profitable international touring profile and good relationship with co-producers, we have only a limited reliance on contributed income. We have consistently exceeded forecasts for co-production funding (included in our earned income figures) which subsidises the production costs of a new work. Our financial planning and resilience are held up as a model for good business planning within the dance industry.
the Royal Commission for AlUla for the creation of a site-specific performance. In addition, modest surpluses from our other touring activities enabled us to fully cover our operating costs for the year and allocate funds to underwrite the upcoming tour of the indoor adaptation of the work.
We would also like to thank all of our funders, including the Arts Council England, Dance United Yorkshire, the British Council and the Paul Hamlyn Foundation.
Reserves
Restricted funds
This year we received funding from Lansbury Lawrence School that enabled us to continue our work in schools for another year, work which has generated remarkable and positive results. We also began work on a project in Bradford 2025 UK City of Culture, for which we received a large grant from Dance Yorkshire, and we carry forward a balance of £19,519 on this project.
Designated funds
The workshop and Unplugged programmes covered their own costs, and we were able to use some of the remaining designated funds to underwrite the cost of the third AKC Classical Intensive in Sri Lanka.
The balance of our reserves of £493,335 is held as working capital, which provides us with a very solid start to the 2025/26 financial year in which restaging the AlUla commission for indoor touring will require considerable funding.
Risks
As the Company receives most of its co-production funding and performance fees in euros, fluctuating currency exchange rates represent one of its primary financial risks. To address this, the annual budgets include a designated contingency fund to mitigate potential currency fluctuations.
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Akram Khan Dance Company
(Limited by Guarantee)
Operationally, we continue to face challenges related to visa and work permit requirements resulting from Brexit, as well as increased costs associated with shipping equipment across Europe.
Plans for future periods
After twenty-five remarkable years of sharing storytelling through dance, AKC will draw to a close in March 2027. The decision stems from a shared desire of the co-founders to pursue new creative directions. In August 2024, Akram Khan formally informed the Board of Trustees of his decision to terminate his license between Akram Khan Productions Ltd (formerly Karas Productions Ltd) and Akram Khan Dance Company (AKC) when the current ACE funding ends. As such the Board of Trustees made the decision in September 2024 to close the AKC at the end of March 2027.
work.
Due to great interest in Chotto Desh , the Company will continue to tour the production with performances scheduled in 2025/26 in Ankara, Budapest, Heilbronn, Zagreb, Dresden, Saint Priest, Turin, Cagliari, Potenza, Perugia, London, Mougins, Essonne and Singapore.
Thikra: Night of Remembering is booked across the 2025/26 FY, beginning with the World Premiere of the indoor adaption at Montpellier Danse Festival (22 - 24 June); ImPulsTanz, Vienna (29 July - 1 August); Santander Festival (17 August); Théâtre de la Ville de Luxembourg (19 - 21 September); Théâtre Sènart, Lieusaint (26 - 28 September); Théâtre de la Ville, Paris (2 - Wells, London (28 October - 1 November); Roma Europa, Rome (5 & 6 November); Berliner Festpiele, Berlin (11& 12 November); Bühnen Köln, Cologne (19 - 20 November); Ljubljana (24 February); LAC Sala Teatro, Lugano (1 March), and Schrittmacker Festival, Holland (24 March). Subsequent touring is planned for Europe, the UK, Saudi Arabia, the United States, China and Australia. The final performances of Jungle Book reimagined in Japan were strategically designed to strengthen our existing relationships with venues in Saitama and Aichi. Looking ahead, we are planning to conclude our final production with a return to Japan in 2027 for the closing performances of Thikra: Night of Remembering .
The Company is building relationships with Brighton and Edinburgh festivals, where the production is in discussion to be presented in May and August 2026 respectfully. A three-week rehearsal period in London over February 2026 will engage a new cohort of dancers to perform the production over the following two years.
As we enter the final phase of the Company, alongside delivering on our charitable objectives through touring and our Legacy work, the Senior Management Team are developing a plan to execute an orderly and smooth winding down of the Charity. The Board of Trustees will have oversight of the plan to ensure that it is done in accordance with Article 54 of the Articles of Association, which aligns with Company Law and Charity Law.
Structure, governance and management
The organisation is a charitable company limited by guarantee incorporated on 19 December 2001, amended by special resolution on 24 September 2016 and registered as a charity on 11 October 2016. The Company was established under a Memorandum of Association, which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1. A full review
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Akram Khan Dance Company
(Limited by Guarantee)
of the Memorandum and Articles of Association was undertaken during 2016. This review ensured that the Governing document continues to be fit for purpose.
Candidates with expertise in underrepresented areas are identified and proposed for consideration. In most cases, appointments are approved collectively by the Board, with the initial approach typically made by the most relevant member, often the Chair.
Association, the most recent business plan, board minutes, and management accounts.
The Trust is governed by a Board of four Trustees, who meet approximately every three months. The work.
The quorum of Trustees at general meetings cannot be less than three Trustees present in person or by proxy.
All day-to-day running decisions are made by the Senior Management Team. The Producing Director is responsible for ensuring that the charity delivers the services specified and that key performance indicators are met. The Finance Director is responsible for ensuring financial and administrative systems, standards and practices meet operational and legal requirements. All artistic planning and policy decisions are made by the Artistic Director. All Trustees give their time voluntarily and receive no remuneration of other benefits from the charity.
Staff salaries are reviewed annually and are typically adjusted in line with average earnings to reflect cost-of-living increases. Given the nature of the charity, the Trustees benchmark pay against comparable roles in similarly sized organisations within the arts sector.
Risk management
A risk register has been developed. Risks are prioritised and high-rated risks are discussed at each Board meeting. Should any high or extreme risk become evident in between Board meetings, the Producing Director or Management Team will inform the Trustees and agreement as to action to be taken in mitigation will be agreed by the majority of Trustees by email. The Board of Trustees is satisfied that all major risks have been identified and that systems and actions are in place to mitigate those risks.
Related parties
There are no related parties influencing the work of the Trust. The Company is managed by a Senior Leadership Team comprising the Artistic Director, Producing Director, Executive Director, and Finance Director.
Statement of Trustees' Responsibilities
The trustees (who are also directors of Akram Khan Dance Company for the purposes of company law) are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
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Akram Khan Dance Company
(Limited by Guarantee)
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
· select suitable accounting policies and then apply them consistently;
· observe the methods and principles in the Charities SORP 2019 (FRS 102);
· make judgements and estimates that are reasonable and prudent;
· state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
· prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware at the time of approving our trustees' annual report:
· there is no relevant information, being information needed by the auditor in connection with preparing their report, of which the charitable company's auditor is unaware; and
· the trustees, having made enquiries of fellow directors and the charitable company's auditor that they ought to have individually taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Small Company Exemptions
This report is prepared in accordance with the provisions of the Companies Act 2006 relating to small companies.
This report was approved by the Board of Trustees on 12 December 2025 and signed on its behalf by
Dipali Sahni (Chair) Trustee
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Docusign Envelope ID.. E5F41968-61 FC4AA6-B9CF-5045F3COIA74 Independent Auditors. Report to the Members of Akram Khan Dance Company Opinion We have audited the financial statements of Akram Khan Dance Company (the 'charitable company'l for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporling framework thal has been applied in their preparation is applicable law and United Kingdom Accounting Standards. including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: give a true and fair view of Ihe slate of the charitable companws affairs as at 31 March 2025, and of its incoming resources and application of resources, including its income and expenditure, for the year then have been properly prepared in accordan with United Kingdom Generally Accepted Accounting Practice" and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with Intemational Standards on Auditing (UK) {ISAs IUK}) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard. and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or condilions that, individually or collectively. may cast significant doubt on the charilable company's ability to continue as a going concern for a period of at least iwelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees wwlh respect to going concern are described in the relevant sections of this report. Other informalion The other information comprises the information included in the trustees annual report. other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial stalements does not cover the other information and, except to the extent otherwise explicitly slated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whelher the other information is materially inconsistent wilh the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstaled. If we identify such material inconsistencies or apparent material misstatements. we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misslatement of Ihis other information, we are required lo report that fact. We have nothing to report in this regard. 10
Docusign Envelope ID.. E5F41968-61 FC4AA6-B9CF-5045F3COIA74 Independent Auditors. Report to the Members of Akram Khan Dance Company Opinions on other matters prescribed by the Companies Act 2006 In our opinion. based on the work undertaken in the course of Ihe audit: the information given in the trustees. report (incorporating the directors. report) for the financial year for which the financial statements are prepared is consistent wilh the financial statements- and the directors. report has been prepared in accordance with applicable legal requirements. Matters on which we a reqUId to port by excepiion In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have nol identified material misslatements in the directors. report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us lo report to you if, in our opinion- adequate accounting records have not been kept, or returns adequale for our audit have not been received from branches not visiled by us- or the financial statements are not in agreement wilh the accounting records and returns- or certain disclosures of directors, remuneration specified by law are not made. or we have not received all the information and explanations we require for our audit- or the trustees were not entitled to prepare the financial statements in accordance with the small companies, regime and take advantage of the small companies, exemptions in preparing the directors, report and from the requirement to prepare a strategic report. Responsibililies of Irustees As explained more fully in the trustees, responsibilities statement set out on pages 8 and 9. the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements. the trustees are responsible for assessing the charitable companys ability lo continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidale the charitable company or to cease operations. or have no realistic alternative but to do so. Audilor's responsibilities for the audit of Ihe financial statemenls Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due lo fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance. but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misslatements can arise from fraud or error and are considered material if. individually or in the aggregate. they could reasonably be expected to influence the economic decisions of users laken on the basis of these financial statements.
Docusign Envelope ID.. E5F41968-61 FC4AA6-B9CF-5045F3COIA74 Independent Auditors. Report to the Members of Akram Khan Dance Company Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above. to delect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below= Our assessment focussed on key laws and regulations the charitable company has to comply with and areas of the financial statements we assessed as being more susceptible to misstatement. These key laws and regulations included but were not limited lo compliance with the Companies Act 2006, Charities Act 2011 , taxation legislation, data protection and employment legislation. We are not responsible for preventing irregularities. Our approach to detecting irregularities included, but was not limited to, the following: oblaining an understanding of the legal and regulalory framework applicable to the charitable company and how the charitable company is complying with that framework, including agreement of financial statement disclosures to underlying documentation and other evidence. obtaining an understanding of the charitable company's control environment and how the charitable company has applied relevant control procedures. through discussions with Trustees and other management and by performing walkthrough testing over key areas. obtaining an understanding of the charitable company's risk assessment process. including the risk of reviewing meeting minutes of those charged with governan throughout the year; and performing audit testing to address the risk of management override of controls, including testing journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias. Whilsl considering how our audit work addressed the detection of irregularities, we also considered the likelihood of detection based on our approach. Irregularities arising from fraud are inherently more difficult to detect than those arising from error. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularilies, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at.. www.frc.org.uklauditorsresponsibilities. This description forms part of our auditor's report. 12
Docusign Envelope ID.. E5F41968-61 FC4AA6-B9CF-5045F3COIA74 Independent Auditors. Report to the Members of Akram Khan Dance Company Use of our report This report is made solely to the charitable companys members. as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to stale to them in an audilor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable companys members as a body, for our audit work, for this report, or for the opinions we have formed. Mr Graham Berry FCCA (Senior siatuiory Auditor) For and on behalf of Breckman & Company Ltd Statutory Auditors Chartered Certified Accounlants 49 South Molton Street London W1 K 5LH 12 December 2025 13
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Docusign Envelope ID.. E5F41968-61 FC4AA6-B9CF-5045F3COIA74 Akram Khan Dance Company (Limiled by Guarantee) Year ended 31 March 2025 2025 2024 Income from donations and legacies Granls Arts Council England - NPO funding 509.821 509.821 509,821 509,821 Capital Group Sky Arts 21,000 5,100 26,100 Donations Donations 19.000 1,357 19.000 1,357 528.821 537,278 Income from charitable aclivities Theatre Theatre income UK performance fees International performance fees Co-production income Special education projects Workshops Other income 47.000 594,536 1,433,940 11,458 38.639 6,400 197,000 939,169 194,412 41,194 222 2.131.973 1.371,997 Project specific funding Grants Dance United Yorkshire Lansbury Lawrence London Borough of Tower Hamlets Newham Festival of Stories The Paul Hamlyn Foundation 54.125 19.300 2,000 3,000 27.500 78,425 27,500 2,210.398 1.399,497 15
Docusign Envelope ID.. E5F41968-61 FC4AA6-B9CF-5045F3COIA74 Akram Khan Dance Company (Limiled by Guarantee) Year ended 31 March 2025 2025 2024 Expendilure on charilable activities Theatre Production costs Dancers, fees Artistic director fees Producer fees Rehearsal costs Technicallcreative costs Setslcostumes Sound/lightlother technical costs Other production costs Touring costs Marketinglpromotion Royalties 267,569 148,000 148,000 217.546 251,382 230,994 118,804 105.694 150,075 52.123 104.690 258,023 100,000 100,000 204,753 267,189 9,220 59,458 72,317 142,194 60,615 150,232 1,794,877 1,424,001 Support and governance costs - page 17 590,394 646,388 2,385.271 2.070,389 16
Docusign Envelope ID.. E5F41968-61 FC4AA6-B9CF-5045F3COIA74 Akram Khan Dance Company (Limiled by Guarantee) Year ended 31 March 2025 2025 2024 Support and governance cosis Support costs Office overheads Rent/rateslroom hire Telephonelinternet Insurance Storage Equipmenvrepairslmaintenance Computer costs Depreciation of equipment 29.974 6,040 22,286 28.468 869 8,246 10,608 34,980 9,667 27,284 31,854 1,883 7,674 11.426 106.491 124,768 Administration costs Salaries/fees Social security costs Staff pension costs Slaff training Staff welfare Work permits Travellsubsistence Entertaining Printing/postage/stationery Subscriptionsllicences Sundries 383,308 34.355 11.132 231 40 13.489 4.944 2,258 660 2,732 1.446 373,423 33.113 12,962 12,554 17,685 3,899 663 2.132 3,309 454,595 459,758 Professionalllinancial Research and development Legallprofessional Bank charges Bad debts ISurplus)Ideficit on foreign exchange 6.822 18.548 1,813 1.610 1.568 4,337 373 43,001 (6,267) 20,916 50,889 Governance costs Accountancylconsultancy Audit 1.500 6,500 5,000 5,000 8.000 10,000 590,002 645,415 Deficit on disposal of tangible fixed assets 392 973 590,394 646,388 17
Docusign Envelope ID.. E5F41968-61 FC4AA6-B9CF-5045F3COIA74 Akram Khan Dance Company (Limiled by Guarantee) Balance Sheet 31 March 2025 2025 2024 Notes Fixed assets Tangible assets 34,828 41.828 Current assets Debtors Cash at bank and in hand 698,372 741.507 882.419 135,145 1,439,879 1,017,564 Liabilities Creditors.. amounts falling due within one year 10 (664,374) {608.2591 Nel current assels 775,505 409,305 Total assets less current 810,333 451,133 The funds of the charily Unrestricted funds General fund Designated funds 13 528,163 262,651 183,323 250,358 790,814 433,681 Restricted income funds 14 19,519 17,452 Total charity funds 810,333 451,133 The trustees have prepared these accounts in accordance with section 398 of the Companies Act 2006 and seclion 138 of the Charilies Act 2011. These accounts are prepared in accordance with the special provisions of Part 15 of the Companies Act relating to small companies and constitute the annual accounts required by the Companies Act 2006 and are for circulation to members of the company. The accounts were approved by the Board of Trustees on 12 December 2025 and signed on its behalf by Èdty: 0751A37GW8439... Dipali Sahni (Chair) Trustee The notes on pages 20 to 29 form an integral part of these financial statements. 18
Docusign Envelope ID.. E5F41968-61 FC4AA6-B9CF-5045F3COIA74 Akram Khan Dance Company (Limiled by Guarantee) Cash Flow Statement for the year ended 31 March 2025 2025 2024 Notes Cash flows from operaling aclivities 18 605,110 (161,6091 Cash flows from investing activities: Dividends, interesl and rents from investments Purchase of fixed assets 5.252 (4,000) 490 118.991) Net cash provided by investment activities 1,252 118,5011 Change in cash at bank and in hand in the reporling period Cash at bank and in hand at the beginning of the reFK)rting period 606,362 {180,1101 135.145 315.255 Cash at bank and in hand at the end of the reporting period 741,507 135,145 19
Docusign Envelope ID.. E5F41968-61 FC4AA6-B9CF-5045F3COIA74 Akram Khan Dance Company (Limiled by Guarantee) Noies io the Financial siatemenls for the year ended 31 March 2025 Accounting policies 1.1. Basis of preparing the financial statements The financial statements have been prepared in accordance wilh Accounting and Reporting by Charities: Statement of Recommended Practice (issued October 20191 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 IFRS 10211, and the Companies Act 2006. The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. 1.2. Incoming resources All incoming resources are included in the Statement of Financial Activities when= the charity is legally entitled to the funds any performance conditions attached to the income have been met or are fully within the control of the charity there is sufficient certainty that receipt of the income is considered probable the amount can be reliably measured Donations and legacies Grants/donations are recognised in incoming resources in the year in which they are receivable, except as follows: when donors specify that grants/donations given to the charity must be used in future accounting periods, the income is deferred until those periods when donors impose conditions which have to be fulfilled before the charity becomes entitled to use such income, the income is deferred and nol included in incoming resources until the preconditions for use are met. Charitable activities Theatre income income from box office, performance fees and sundry other theatrical income is included in incoming resources in the period in which the relevant show takes place. Project specific funding - when donors specify that donations and grants are for parlicular restricted purposes, which do not amount to pre-conditions regarding entitlement, this income is included in incoming resources of restricted funds when receivable. - Investment income Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity. this is normally upon notification of the interest paid or payable by the Bank. 20
Docusign Envelope ID.. E5F41968-61 FC4AA6-B9CF-5045F3COIA74 Akram Khan Dance Company (Limiled by Guarantee) Noies io the Financial siatemenls for the year ended 31 March 2025 1.3. Expenditure All expenditure is included on an accruals basis inclusive of any VAT which cannot be recovered and is recognised when= there is a legal or constructive obligation to make a payment it is probable that settlement will be required Ihe amount of the obligation can be measured reliably Cosis of raising funds Costs incurred in attracting donations, and those incurred in trading activities that raise funds. Charitable activilies Theatre production costs - costs incurred in production and running of productions toured in the year. - Support costs The administrative and overhead costs associated with running the office from which the company operates as well as governance costs. Support costs are wholly attributable to theatre production costs. - Governance costs Costs associated with the constibjtional and statutory requirements of the charity. 1.4. Fund accounting Funds held by the charity are either: Unrestricted general funds these are funds which can be used in accordance with the charitable objects al the discretion of the trustees. Designated funds Ihese are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds - these are funds that can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose ol each fund is included in the notes to the financial statements. 1.5. Tangible fixed assets and deprecialion Individual fixed assets costing £100 or more are capilalised at cost. Depreciation is provided at annual rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows- Plant and machinery Fixtureslfittingslequipment 25 /0 on reducing balance 25 % on reducing balance 1.6. Deblors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid after taking account of any trade discounts due. 21
Docusign Envelope ID.. E5F41968-61 FC4AA6-B9CF-5045F3COIA74 Akram Khan Dance Company (Limiled by Guarantee) Noies io the Financial siatemenls for the year ended 31 March 2025 1.7. Production cosls in advance Costs incurred in respect of a theatre production which opens in the following accounting period, and which are to be paid out of general unrestricted funds. are carried loard at the balance sheet date. 1.8. Cash at bank and in hand Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisilion or opening of the deposit 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 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. 1.10. Pensions The company operates a defined contribution scheme for the benefit of its employees. contributions payable are recognised as expenditure when due. 1.11. Foreign currencies Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. transactions in foreign currencies are translated at the date of the transactions. all gains and losses on exchange are written off in the income and expenditure account. 1.12. Financial Instrumenls The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised al Iransaction value, and subsequently measured at their settlement value. 1.13. Significanl Accounting Estimates and Judgemenls In determining the carrying amounts of certain assels and liabilities, the charrty makes assumptions of the effects of uncertain future events on those assets and liabilities at Ihe balance sheet dale. The charity's estimates and assumptions are based on historical experience and expectation of future events and are reviewed annually. Incoming resources The total theatrical income for the year has been derived from the principal activity. The proportion of theatrical income derived from outside the UK amounted to 75°/0 (2024 59°/.}. 22
Docusign Envelope ID.. E5F41968-61 FC4AA6-B9CF-5045F3COIA74 Akram Khan Dance Company (Limiled by Guarantee) Noies io the Financial siatemenls for the year ended 31 March 2025 Nel incomel(expendilure) for Ihe year is stated aller charging: 2025 2024 Depreciation of tangible fixed assets Deficit on disposal of langible fixed assets Deficit on foreign exchange Auditors. remuneration external audit other services overaccrual in previous year 10,608 392 11,426 973 43,001 6,500 3,500 (2,000) 5,000 5,000 and after crediting: Surplus on foreign exchange (6,267) Truslees, emoluments and reimbursed expenses The trustees received no remuneration during the year (2024 - £nil). The aggregated amount reimbursed to trustees during the year was £nil (2024 - £nil). 23
Docusign Envelope ID.. E5F41968-61 FC4AA6-B9CF-5045F3COIA74 Akram Khan Dance Company (Limiled by Guarantee) Noies io the Financial siatemenls for the year ended 31 March 2025 Staff costs and numbers 2025 2024 Staff costs Salaries and wages Social security costs Pension costs Ex-gralia payments Redundancy costs 372,685 34,355 11,132 10,000 623 379,143 33,113 12,962 15,470 428,795 440,688 No employee earned £60.000 or more during the year (2024 - £nil). The key management personnel of the charity comprise the Trustees and the Senior Management Team. The total employee benefits and fees of the key management personnel of the charity were £489,20012024 - £415,068). Ex-gratia payments - the Trustees agreed to make bonus payments to employees in the year totalling £10,000 (2024 - £15,470). There were total redundancy costs of £623 fully paid in the year. Slatf numbers The average numbers of employees (including casual and part time staff) during the year was made up as follows: 2025 Number 2024 Number Production Support 12 13 Pension cosis The company operates a defined contribution pension scheme in respect of its employees. The scheme and its assets are held by independent managers. The pension charge represents contributions due from the company and amounted to £11.132 (2024 - £12,962). Corporation taxation The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. 24
Docusign Envelope ID.. E5F41968-61 FC4AA6-B9CF-5045F3COIA74 Akram Khan Dance Company (Limiled by Guarantee) Noies io the Financial siatemenls for the year ended 31 March 2025 Fixed assets - iangible assets Planv machinery Fixluresl fittingsl equipment Total Cosi 1 April 2024 Additions Disposals 79,274 4,000 20,222 99.496 4,000 (2,4521 12,452) 31 March 2025 83,274 17,770 101,044 Deprecialion 1 April 2024 On disposals Charge for year 46,093 11,575 12,060) 2,063 57.668 {2,0601 10,608 8,545 31 March 2025 54,638 11,578 66.216 Nel book values 31 March 2025 28,636 6,192 34,828 31 March 2024 33,181 8,647 41.828 Debiors 2025 2024 Trade debtors Other debtors Production costs in advance Prepayments Accrued income 104,660 65,213 230,322 22,235 275,942 353,109 47.555 217,533 23,417 240,805 698,372 882.419 25
Docusign Envelope ID.. E5F41968-61 FC4AA6-B9CF-5045F3COIA74 Akram Khan Dance Company (Limiled by Guarantee) Noies io the Financial siatemenls for the year ended 31 March 2025 10. Creditors: amounis falling due within one year 2025 2024 Trade creditors Other taxationlsocial security Other creditors Accruals Deferred income (note 11) 220,071 8,185 39,692 209,085 187,341 204.051 8.083 12.816 115,667 267,642 664,374 608.259 Deferred income Balance at 1 April 2024 267,642 Amount released to incoming reSoUrS Amount deferred in the year 1267,642) 187,341 Balance at 31 March 2025 187,341 Deferred income relates to theatre income received in advance. 12. Limited by guarantee The private company is limited by guarantee. registered in EW - England and Wales, and does not have a share capital. Each member gives a guarantee to contribute a sum. not exceeding £1. to the company should it be wound up. At 31 March 2025 there were 5 members. 26
Docusign Envelope ID.. E5F41968-61 FC4AA6-B9CF-5045F3COIA74 Akram Khan Dance Company (Limiled by Guarantee) Noies io the Financial siatemenls for the year ended 31 March 2025 13. Unrestricted funds Brought fOard Incoming resources Oulgoing resources Transfers Carried fotward General fund Designated funds= Ringfenced reserve fund Legacy projects 183.323 2,666.046 (2.318,655) 12,551) 528.163 250,000 358 250,000 12,651 12,293 433.681 2,666.046 (2.318,655) 9,742 790,814 Ringfenced reserve fund This fund represents a ringfenced amount equivalent lo a three month provision should the charity cease operating. Legacy projects Our designated Legacy fund supports artistic, educational and training projects that ensure the continuation of Akram's choreographic legacy and AKC values. 27
Docusign Envelope ID.. E5F41968-61 FC4AA6-B9CF-5045F3COIA74 Akram Khan Dance Company (Limiled by Guarantee) Noies io the Financial siatemenls for the year ended 31 March 2025 14. Resiricied funds Brought fotward Incoming resources Oulgoing resources Transfers Carried fotward Memories Moving Stories Creative Engagement Sri Lanka 54.125 24.300 (31,606) (24,300) {10,710) 13,000) 19.519 10,710 Teacher Development Fund 6,742 16,742) 17,452 78,425 {66,616) 19,742) 19,519 Memories A partnership with Dance United Yorkshire, an intergenerational community performance commissioned by Bradford UK City of Culture 2025. Moving Stories Our flagship education programme, Moving Stories. culminated in a series of teacher-led CPD sessions and 14 school performances. reaching 2,521 children across East London, supported by various funders. Creative Engagemenl - Sri Lanka Funds from British Council towards the project Creative Engagement Experience. Sri Lanka 2024-25. Teacher Development Fund Funds received Irom Paul Hamlyn Foundation towards the Teacher Development Fund. 15. Analysis of net assets between funds General funds Designated funds Restricted funds Total Fund balances al 31 March 2025 are represented by: Tangible fixed assets Nel current assets 34.828 493,335 34,828 775,505 262,651 19,519 528,163 262,651 19,519 810,333 28
Docusign Envelope ID.. E5F41968-61 FC4AA6-B9CF-5045F3COIA74 Akram Khan Dance Company (Limiled by Guarantee) Noies io the Financial siatemenls for the year ended 31 March 2025 16. Financial commitments At 31 March 2025 the company had total future commitments under non-cancellable operating leases as follows.. 2025 2024 Due: Within one year Between one and five years 30,184 27,672 30,184 30,184 57,856 17. Related party Iransactions During the year the company had no related party transactions that required disclosure. 18. Reconciliation of net incomel(expenditure) to nei cashflow f rom operating activities 2025 2024 Net incomel(expenditure) for the reporting period (as per the statement of financial activities) Depreciation Dividends, interest and rents from investments Deficit on the sale of fixed assets Decrease/{increasel in debtors Increase in creditors 359,200 (53,1241 10,608 (5,252) 392 184,047 56,115 11,426 1490) 973 {381,793} 261,399 Nei cash inflow from operating aciivities 605,110 {161.6091 29