Charity registration number 1172741
DANCEBOX THEATRE WORKS
(A COMPANY LIMITED BY GUARANTEE) ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023
DANCEBOX THEATRE WORKS (A COMPANY LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Ms V Allen Mr A Murray Mr R Linecar
Senior management
Mr T Linecar-Boulton Mr M Linecar Boulton
Charity number
1172741
Independent examiner
Crouchers Ltd
1 Copperhouse Court Caldecotte Business Park Milton Keynes Buckinghamshire England MK7 8NL
DANCEBOX THEATRE WORKS (A COMPANY LIMITED BY GUARANTEE) CONTENTS
| Page | |
|---|---|
| Trustees’ report | 1-2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Statement ofcash flows | 6 |
| Notestothefinancialstatements | 7-14 |
DANCEBOX THEATRE WORKS (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT FOR THE YEAR ENDED 31 JULY 2023
The trustees present their annual report and financial statements for the year ended 31 July 2023.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's [governing document], the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).
Objectives and activities
Public benefit
The charity’s objects are to advance education for the public benefit through the provision of vocational education and training in the performing arts, delivered through the charity's own school, for young people up to the age of 25.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake.
The Charity’s activities provide access to high quality, pre-vocational and vocational performing arts training for students both from the local area and a wider geographical catchment. The Charity also provides access to high quality dance and performing arts studios for use by both local organisations and renowned professional companies.
Achievements and performance
Significant activities and achievements against objectives
The 22/23 academic year saw the first cohort graduate from the headline BA (Hons) Professional Dance & Musical Theatre course, with a 100% success rate in students achieving their degree qualification and 80% of the students securing professional performing work within 6 months of graduation.
There was continued growth for college admissions, with another strong intake of 35 students for the headline professional training course, the BA (Hons) in Professional Dance & Musical Theatre, validated and in partnership with Buckinghamshire New University.
The quality of applicants was improved from the previous year’s intake and the panel were still able to be selective about applicants with more than 100 people auditioning for the course. In order to make as much space available for the headline professional course, another small cohort of Sixth Form were recruited, with 15 new students joining.
Sadly, gender diversity across both courses remains poor, with an entirely female student cohort in this period. Plans and outreach activities to address this imbalance are being continued and tutor recruitment is also being used to provide more gender equality in the teaching team. Diversity in student ethnicity is also limited, but again, plans continue to actively improve diversity across the student body. Again, diversity in the teaching team is also being used to help perception and recruitment of a more diverse student body.
The Junior School remains stable after its post-Covid recovery with around 350 children registered for classes
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DANCEBOX THEATRE WORKS (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023
Financial review
The principal source of income in the first period was receipts under the terms of an agreement with Buckinghamshire New University and Bedford College, and from the operation of classes in Dancebox Junior School. In the YE July 2023, the charity's income totalled £844,390, which reflects just over a 13.71%increase in income from the YE July 2022, when the total income was £742,524. This accurately reflects the planned growth in student numbers as the degree course continues to be rolled out, and reflects the recovery in student numbers and income of the junior school provision. To meet the expanding delivery needs of the college and the educational requirements of the FE and HE programmes, there was a 46.43% increase in costs in the YE July 2023.
The Charity has completed a risk assessment and is confident that, now that recovery from the Pandemic is stable, only moderate risk to the Charity remains. In line with previous years, these risks relate to the sole nature of the partnership agreements under which the educational qualifications are delivered with The Bedford College Group and Buckinghamshire New University. To mitigate these risks, management continue to assess other potential partners and other modes of training delivery should there be any changes to the current sub-contracting arrangements.
It is the policy of the Charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three- and six-month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
Structure, governance and management
The Charity is a company limited by guarantee.
The trustees who served during the year and up to the date of signature of the financial statements were: Ms V Allen
MrA Murray
Mr R Linecar
The Trustee's delegate the day to day management to Mr T Linecar-Boulton and Mr M Linecar-Boulton. Mr T Linecar-Boulton is related to the Chair of Trustees, Mr R Linecar.
Mr T Linecar-Boulton and Mr M Linecar-Boulton are equal members in Dancebox Milton Keynes LLP, which provided banking services to the Charity during the year.
The trustees’ report was approved by the Board of Trustees.
Mr R Linecar Trustee
Date: ASI0S/I2024
ee
DANCEBOX THEATRE WORKS (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF DANCEBOX THEATRE WORKS
| report to the trustees on my examination of the financial statements of Dancebox Theatre Works (the Charity) for the year ended 31 July 2023.
Responsibilities and basis of report
As the trustees of the Charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
| report in respect of my examination of the Charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination | have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Since the Charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. | confirm that | am qualified to undertake the examination because | am a member of ICAEW, which is one of the listed bodies.
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
| understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
- | have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. 1 accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or 2 the accounts do not accord with those records; or 3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
| have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that | might state to the Charity's Trustees those matters | am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, | do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
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Crouchers Ltd
1 Copperhouse Court
Caldecotte Business Park Milton Keynes Buckinghamshire MK7 8NL
England
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DANCEBOX THEATRE WORKS (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 JULY 2023
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2023 | 2022 | ||
| Notes | £ | £ | |
| Income from: | |||
| Charitable activities | 2 | 842,287 | 742,524 |
| Investments | 3 | 2,103 | - |
| Total income | 844,390 | 742,524 | |
| Expenditure on: | |||
| Charitabl oa |
|||
| Charitable Expenditure | 4 | 899,997 | 614,656 |
| Total expenditure | 899,997 | 614,656 | |
| Net income/(expenditure) and movement in funds | (55,607) | 127,868 | |
| Reconciliation offunds: | |||
| Fund balances at 1 August2022 | 367,631 | 239,763 | |
| Fundbalancesat31July2023 | 312,024 | 367,631 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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DANCEBOX THEATRE WORKS (A COMPANY LIMITED BY GUARANTEE) BALANCE SHEET
AS AT 31 JULY 2023
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| Fixed assets | |||||
| Tangible assets | 9 | 91,120 | 67,821 | ||
| Current assets | |||||
| Debtors | 10 | 233,343 | 309,966 | ||
| Cash at bank and in hand | 40,815 | - | |||
| 274,158 | 309,966 | ||||
| Creditors: amounts falling duewithin one year |
11 | (53,254) | (10,156) | ||
| Net current assets | 220,904 | 299,810 | |||
| Total assets less current liabilities | 312,024 | 367,631 | |||
| Netassets excluding pension liability | 312,024 | 367,631 | |||
| Thefunds ofthe Charity | |||||
| Unrestricted funds | 312,024 | 367,631 | |||
| 312,024 | 367,631 |
The financial statements were approved by the trustees ON .........ccesseeeeeees
Mr R Linecar Trustee
exBicn
DANCEBOX THEATRE WORKS (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 JULY 2023
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||||||||||
|---|---|---|---|---|---|---|---|---|
|2023|2022|
|Notes|£|£|£|£|
|Cash|flows|from|operating|activities|
|Cash|generated|from/(absorbed|by)|16|
|Operations|70,164|.|
|Investing|activities|
|Purchase|of tangible|fixed|assets|(31,452)|-|
|Investment|income|received|2,103|-|
|Net|cash|used|in|investing|activities|(29,349)|-|
|Net|cash|used|in|financing|activities|-|-|
|Net|increase|in|cash|and|cash|equivalents|40,815|-|
|Cash|and|cash|equivalents|at|beginning|of year|-|-|
|Cash|and|cash|equivalents|at end|of year|40,815|-|
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DANCEBOX THEATRE WORKS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023
- 1 Accounting policies
Charity information
Dancebox Theatre Works is a Charitable Incorporated Organisation registered charity in England and Wales. The address of the principle office is 216-218 Regency Court, Upper Fifth Street, Milton Keynes, MK9 2HR.
- 1.1 Accounting convention
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair’ view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Dancebox Theatre Works 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.
The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
1.4 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
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DANCEBOX THEATRE WORKS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023
- 1 Accounting policies
(Continued)
1.5 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
1.6 Tangible fixed assets
Tangible fixed assets costing £NIL or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
| Leasehold land and buildings | 2% |
|---|---|
| Leasehold improvements | 25% |
| Fixtures and fittings | 25% |
| Computers | 33% |
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
1.7 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
- 1.8 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
- 1.9 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
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DANCEBOX THEATRE WORKS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023
1 Accounting policies
(Continued)
1.10 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
1.11 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
2 Income from charitable activities
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2023 | 2022 | |
| £ | £ | |
| Sales within charitable activities | ||
| Coursefeesandfacilities | 842,287 | 742,524 |
3 Income from investments
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Interest | receivable | 2,103 | - |
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DANCEBOX THEATRE WORKS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023
4 Expenditure on charitable activities
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||||||||||
|---|---|---|---|---|---|---|---|---|
|Charitable|§|Charitable|
|Expenditure|Expenditure|
|2023|2022|
|£|£|
|Direct|costs|
|Wages|and|salaries|164,426|-|
|Employers|NI|13,925|-|
|Employer's|Pension|4,142|-|
|Sub-Contractors|Faculty|405,518|426,177|
|Depreciation|and|impairment|8,153|5,539|
|Purchases|and|event|costs|80,530|75,317|
|Legal|and|professional|fees|347|1,080|
|Printing|and|stationery|3,522|-|
|Rent|103,305|40,896|
|Rates|and|water|3,065|3,518|
|Light|and|heat|14,980|2,506|
|Cleaning|17,580|10,408|
|Repairs|and|maintenance|12,567|1,034|
|Processing|fees|5,488|5,627|
|Travel|and|subsistence|2,508|5,250|
|Office|and|storage|costs|16,520|10,094|
|Advertising|and|exhibition|costs|16,171|18,143|
|Waste|disposal|1,448|784|
|Accountancy|fees|6,424|6,350|
|Insurance|582|183|
|Subscriptions|9,834|-|
|Bank|Charges|&|Interest|95|-|
|Telecommunications|1,765|-|
|Computer &|software|Charges|§,352|-|
|898,247|612,906|
|Share|of support and|governance|costs|(see|note|)|
|Governance|1,750|1,750|
|899,997|614,656|
|Analysis|by fund|
|Unrestricted|funds|899,997|614,656|
|5|Net|movement|in|funds|2023|2022|
|£|£|
|The|net|movement|in|funds|is|stated|after|charging/(crediting):|
|Fees|payable|for the|independent|examination|of the|charity's|financial|
|statements|1,750|1,750|
|Depreciation|of owned|tangible|fixed|assets|8,153|(5,539)|
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DANCEBOX THEATRE WORKS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023
6 Trustees
During the year ended 31 July 2023, no Trustee received any remuneration or other benefits (2022 : NIL).
During the year ended 31 July 2023, no Trustees’ expenses have been incurred (2022 : NIL).
7 Employees
The average monthly number of employees during the year was:
| 2023 | 2022 | |
|---|---|---|
| Number | Number | |
| 3 | - | |
| Employment costs | 2023 | 2022 |
| £ | £ | |
| Wages and salaries | 164,426 | - |
| Social security costs | 13,925 | - |
| Other pension costs | 4,142 | - |
| 182,493 | - |
Remuneration of key management personnel
During the year ended 31 July 2023, total payments of £98,010 each were made to Mr T L Boulton and Mr M L Boulton in return for their services, as follows:
¢ MrT Linecar-Boulton £41,760 (2022: £63,000)
¢ Mr M Linecar-Boulton £41,760 (2022 :£62,000)
and in addition they received equal salaries of £56,250 totalling:
| 2023 | 2022 | ||
|---|---|---|---|
| £ | £ | ||
| Aggregate | compensation | 112,500 | - |
8 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
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DANCEBOX THEATRE WORKS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023
9 Tangible fixed assets
| 9 | Tangible fixed assets | |||||
|---|---|---|---|---|---|---|
| Leasehold | Leasehold | Fixturesand | Computers | Total | ||
| land and | improvements | fittings | ||||
| buildings | ||||||
| £ | £ | £ | £ | £ | ||
| Cost | ||||||
| At 1 August 2022 | 88,007 | - | 3,233 | 8,920 | 100,160 | |
| Additions | - | 12,057 | 16,708 | 2,687 | 31,452 | |
| At 31 July 2023 | 88,007 | 12,057 | 19,941 | 11,607 | 131,612 | |
| Depreciation and impairment | ||||||
| At 1 August 2022 | 23,654 | - | 1,566 | 7,119 | 32,339 | |
| Depreciation charged in the year | 1,760 | 643 | 3,638 | 2,112 | 8,153 | |
| At 31 July 2023 | 25,414 | 643 | 5,204 | 9,231 | 40,492 | |
| Carrying amount | ||||||
| At 31 July 2023 | 62,593 | 11,414 | 14,737 | 2,376 | 91,120 | |
| At 31 July2022 | 64,353 | - | 1,667 | 1,801 | 67,821 | |
| 10 | Debtors | |||||
| 2023 | 2022 | |||||
| Amounts falling due within one year: | £ | £ | ||||
| Amounts owed by associate undertakings | 208,569 | 296,216 | ||||
| Other debtors | 13,747 | 13,750 | ||||
| Prepayments and accrued income | 11,027 | - | ||||
| 233,343 | 309,966 | |||||
| 11. | Creditors: amounts falling due within one | year | ||||
| 2023 | 2022 | |||||
| £ | £ | |||||
| Othertaxation and social security | 12,852 | - | ||||
| Trade creditors | 30,222 | - | ||||
| Accruals and deferred income | 10,180 | 10,156 | ||||
| 53,254 | 10,156 |
a4 Dis
DANCEBOX THEATRE WORKS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023
12 Retirement benefit schemes
| Retirement benefit schemes | ||
|---|---|---|
| 2023 | 2022 | |
| Defined contribution schemes | £ | £ |
| Chargetoprofitorlossinrespectofdefinedcontributionschemes | 4,142 | - |
The Charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the Charity in an independently administered fund.
13 Unrestricted funds
| At1August | Incoming | Resources | At31 July | |
|---|---|---|---|---|
| 2022 | resources | expended | 2023 | |
| £ | £ | £ | £ | |
| General Funds | 426,004 | 737,197 | (604,956) | 558,245 |
| General funds | (58,373) | 107,193 | (295,041) | (246,221) |
| 367,631 | 844,390 | (899,997) | 312,024 | |
| Previous year: | At 1 August | Incoming | Resources | At 31 July |
| 2021 | resources | expended | 2022 | |
| £ | £ | £ | £ | |
| General Funds | 293,763 | 737,197 | (604,956) | 426,004 |
| General funds | (54,000) | 5,327 | (9,700) | (58,373) |
| 239,763 | 742,524 | (614,656) | 367,631 |
14 Operating lease commitments
Lessee
At the reporting end date the Charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Within one year | 55,000 | 55,000 |
| Between two and five years | 165,000 | 220,000 |
| 220,000 | 275,000 |
15 Related party transactions
Transactions with related parties
During the year the Charity entered into the following transactions with related parties:
= 13%
DANCEBOX THEATRE WORKS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2023
15 Related party transactions
(Continued)
Payments for services were made to the following key management personnel as follows: ¢ MrT Linecar-Boulton £41,760 (2022 : £63,000) « Mr M Linecar-Boulton £41,760 (2022: £62,000)
In addition to above the both management personnel has received a gross salary of £56,250 each via payroll. Both management personnel are related to Trustee and Chair of Mr R Linecar.
Dancebox Milton Keynes LLP provided banking services to the Charity during the current and previous year, as the Charity did not have it's own bank account.
As at the year ended 31 July 2023, £208,569 (2022: £296,216), as disclosed in note 8 to the accounts, was owed by Dancebox Milton Keynes LLP, of which the key management personnel of Mr T Linecar-Boulton and Mr M Linecar-Boulton are equal Members
| 16 | Cash generated from operations | 2023 | 2022 |
|---|---|---|---|
| £ | £ | ||
| (Deficit)/surpus for the year | (55,607) | 127,868 | |
| Adjustments for: | |||
| Investment income recognised in statement offinancial activities | (2,103) | - | |
| Depreciation and impairment of tangible fixed assets | 8,153 | 5,539 | |
| Movements in working capital: | |||
| Decrease/(increase) in debtors | 76,623 | (141,506) | |
| Increase in creditors | 43,098 | 8,100 | |
| Cashgeneratedfrom/(absorbedby)operations | 70,164 | - |
(a=
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Final Audit Report 2024-05-15
Created: 2024-05-15
By: T Linecar-Boutton (hello@danceboxstudios.co.uk)
Status: Signed
Transaction ID: CBJCHBCAABAATzhz2VRtFch1MSM76yrFdq_GQ_5hi9PC6
"DBTW-Final. Accounts 2023" " History.
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