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2024-07-31-accounts

Docusign Envelope ID: 96FB8476-3875-4326-BDAC-C59CB88338F8

Charity registration number 1172741 (England and Wales)

DANCEBOX THEATRE WORKS

(A COMPANY LIMITED BY GUARANTEE)

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

Docusign Envelope ID: 96FB8476-3875-4326-BDAC-C59CB88338F8

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 (England and Wales) 1172741 Independent examiner James Wooldridge MSci FCA Mercer & Hole LLP The Pinnacle 170 Midsummer Boulevard Milton Keynes Buckinghamshire MK9 1BP

Docusign Envelope ID: 96FB8476-3875-4326-BDAC-C59CB88338F8

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 of cash flows 6
Notes to the financial statements 7 - 14

Docusign Envelope ID: 96FB8476-3875-4326-BDAC-C59CB88338F8

DANCEBOX THEATRE WORKS (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT

FOR THE YEAR ENDED 31 JULY 2024

The trustees present their annual report and financial statements for the year ended 31 July 2024.

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

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

After stabilising in the YE July 23, the Junior School saw a steady growth in numbers attending with around 375 children registered for classes. There is healthy diversity in the student body, and under the new leadership of Liberty Taverner, the Junior School is making excellent progress in developing as a creative and connected hub for exceptional dance and performing arts training for children and young people in central Milton Keynes.

In the FE and HE delivery, the 23/24 academic year saw the second cohort graduate from the headline BA (Hons) Professional Dance & Musical Theatre course, with a 100% success rate in students achieving their degree qualification and 85% 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 (Hans) 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 has improved slightly, but is still very limited. Again, plans continue to actively improve diversity across the student body continue, with diversity in the teaching team being used to help visibility, perception and recruitment of a more diverse student body.

Docusign Envelope ID: 96FB8476-3875-4326-BDAC-C59CB88338F8

DANCEBOX THEATRE WORKS (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2024

Financial review

Sources of income were receipts from Junior School class fees, Further Education training funding under the terms of an agreement with Bedford College, and Higher Education training funding under the terms of an agreement with Buckinghamshire New University.

In the YE July 2024, the charity's income totalled £1,028,444, which reflects a 21.8% increase in income from the YE July 2023, when the total income was £844,390. This accurately reflects the planned growth in student

numbers as the Junior School classes expand and degree course provision continues to be rolled out. After the significant increase in costs in the previous year, driven by the expansion in FE and HE delivery, the financial year ending July 2024 saw costs stabilise at a level expected to continue until the start of any further development projects. There was a 7.24% increase in costs from 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 the appropriate delivery methodologies of the Charity, as well as 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

Mr A Murray Mr R Linecar

The trustees' report was approved by the Board of Trustees.

..............................

Mr R Linecar

Trustee

23/5/2025 Date: .............................................

Docusign Envelope ID: 96FB8476-3875-4326-BDAC-C59CB88338F8

DANCEBOX THEATRE WORKS (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF DANCEBOX THEATRE WORKS

I report to the trustees on my examination of the financial statements of Dancebox Theatre Works (the charity) for the year ended 31 July 2024.

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 and the Charities Act (Northern Ireland) 2008. You are satisfied that the financial statements of the charity are not required by charity law to be audited and have chosen instead to have an independent examination.

I report in respect of my examination of the charity’s financial statements carried out under section 65 of the Charities Act (Northern Ireland) 2008 and section 145 of the Charities Act 2011. In carrying out my examination I have followed the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act (Northern Ireland) 2008 and the Directions given by the Charity Commission under section 145(5) (b) of the Charities Act 2011.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000, the independent examiner must be a member of a body listed in section 145 of the Charities Act 2011 and section 65 of the Charities Act (Northern Ireland) 2008. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Acoountants in England and Wales, which is one of the listed bodies.

Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements 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. I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I 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.

James Wooldridge MSci FCA

Mercer & Hole LLP

The Pinnacle 170 Midsummer Boulevard Milton Keynes Buckinghamshire MK9 1BP 23/5/2025 Date: ............................

Docusign Envelope ID: 96FB8476-3875-4326-BDAC-C59CB88338F8

DANCEBOX THEATRE WORKS (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 JULY 2024

Unrestricted Unrestricted
funds funds
2024 2023
Notes £ £
Income from:
Charitable activities 3 1,027,454 842,287
Investments 4 990 2,103
Total income 1,028,444 844,390
Expenditure on:
Charitable activities 5 967,402 899,997
Total expenditure 967,402 899,997
Net income/(expenditure) and movement in funds 61,042 (55,607)
Reconciliation of funds:
Fund balances at 1 August 2023 312,024 367,631
Fund balances at 31 July 2024 373,066 312,024

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

Docusign Envelope ID: 96FB8476-3875-4326-BDAC-C59CB88338F8

DANCEBOX THEATRE WORKS (A COMPANY LIMITED BY GUARANTEE) BALANCE SHEET

AS AT 31 JULY 2024

Notes
Fixed assets
Tangible assets
10
Current assets
Debtors
11
Cash at bank and in hand
Creditors: amounts falling due within
one year
12
Net current assets
Total assets less current liabilities
The funds of the charity
Unrestricted funds
14		 2024
£
252,984
47,057
300,041
(31,277)		 £
104,302
268,764
373,066
373,066
373,066		 2023
£
233,343
40,815
274,158
(53,254)		 £
91,120
220,904
312,024
312,024
312,024

23/5/2025

The financial statements were approved by the trustees on .........................

.............................. Mr R Linecar

Trustee

Docusign Envelope ID: 96FB8476-3875-4326-BDAC-C59CB88338F8

DANCEBOX THEATRE WORKS (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 JULY 2024

2024 2023
Notes £ £ £ £
Cash flows from operating activities
Cash generated from operations 16 35,579 70,164
Investing activities
Purchase of tangible fixed assets (30,327) (31,452)
Investment income received 990 2,103
Net cash used in investing activities (29,337) (29,349)
Net cash generated from financing activities - -
Net increase in cash and cash equivalents 6,242 40,815
Cash and cash equivalents at beginning of year 40,815 -
Cash and cash equivalents at end of year 47,057 40,815

Docusign Envelope ID: 96FB8476-3875-4326-BDAC-C59CB88338F8

DANCEBOX THEATRE WORKS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

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 charity's governing document, the Charities Act 2011, the Charities Act (Northern Ireland) 2008, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements 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 Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but 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 historic 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 Trusteees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

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 are allocated on the portion of the asset’s use.

Docusign Envelope ID: 96FB8476-3875-4326-BDAC-C59CB88338F8

DANCEBOX THEATRE WORKS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2024

1 Accounting policies

(Continued)

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 are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings 2% Straight line baisis Leasehold improvements 25% Straight line basis Fixtures and fittings 25% Straight line basis Computers 33% Straight line basis

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 asset and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction values and subsequently measured at their settlement value.

1.9 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Docusign Envelope ID: 96FB8476-3875-4326-BDAC-C59CB88338F8

DANCEBOX THEATRE WORKS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024

3 Income from charitable activities

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Sales within charitable activities
Course fees and facilities 1,027,454 842,287
Income from investments
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Interest receivable 990 2,103

4 Income from investments

Docusign Envelope ID: 96FB8476-3875-4326-BDAC-C59CB88338F8

DANCEBOX THEATRE WORKS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024

5 Expenditure on charitable activities

Charitable Charitable
Expenditure Expenditure
2024 2023
£ £
Direct costs
Staff costs 620,527 588,011
Depreciation 17,145 8,153
Purchase and event costs 102,617 80,530
Legal and professional fees - 347
Printing and stationery 2,320 3,522
Rent 56,720 103,305
Rates and water 19,835 3,065
Light and heat 18,265 14,980
Cleaning 26,575 17,580
Repairs and maintenance 18,004 12,567
Processing fees 5,653 5,488
Travel and subsistence 1,842 2,508
Office and storage costs 4,283 16,520
Advertising and exhibition costs 20,087 16,171
Waste disposal 1,571 1,448
Accountancy fees 6,808 6,424
Insurance 589 582
Other charitable expenditure 42,561 17,046
965,402 898,247
Share of support and governance costs
Governance 2,000 1,750
967,402 899,997
Analysis by fund
Unrestricted funds 967,402 899,997
6 Net movement in funds 2024 2023
£ £
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial
statements 2,000 1,750
Depreciation of owned tangible fixed assets 17,145 8,153

7 Trustees

During the year ended 31 July 2024, no Trustee received any remuneration or other benefits (2023: £nil).

During the year ended 31 July 2024, no Trustees' expenses have been incurred (2023 £nil).

Docusign Envelope ID: 96FB8476-3875-4326-BDAC-C59CB88338F8

DANCEBOX THEATRE WORKS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024

8 Employees

The average monthly number of employees during the year was:

Employment costs
Wages and salaries
Social security costs
Other pension costs		 2024
Number
5
2024
£
272,179
3,039
12,221
287,439		 2023
Number
3
2023
£
164,426
13,925
4,142
182,493

Remuneration of key management personnel

During the year, total payments were made to Mr T L Boulton and Mr M L Boulton in return for their services, as follows: � Mr T Linecar-Boulton £34,060 (2023: £41,760)

�
Mr M Linecar-Boulton £44,060 (2023: £41,760)
and in addition they received equal salaries of £75,000.
2024 2023
£ £
Aggregate compensation 150,000 112,500

9 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

Docusign Envelope ID: 96FB8476-3875-4326-BDAC-C59CB88338F8

DANCEBOX THEATRE WORKS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024

10 Tangible fixed assets

10
Tangible fixed assets
Leasehold
land and
buildings
Leasehold
improvements
Fixtures and
fittings
£
£
£
Cost
At 1 August 2023
88,007
12,057
19,941
Additions
-
467
26,542
At 31 July 2024
88,007
12,524
46,483
Depreciation and impairment
At 1 August 2023
25,414
643
5,204
Depreciation charged in the year
1,760
3,131
10,058
At 31 July 2024
27,174
3,774
15,262
Carrying amount
At 31 July 2024
60,833
8,750
31,221
At 31 July 2023
62,593
11,414
14,737
11
Debtors
Amounts falling due within one year:
Amounts owed by associate undertakings
Other debtors
Prepayments and accrued income
12
Creditors: amounts falling due within one year
Other taxation and social security
Trade creditors
Accruals and deferred income
13
Retirement benefit schemes
Defined contribution schemes
Charge to profit or loss in respect of defined contribution schemes		 Computers
£
11,607
3,318
14,925
9,231
2,196
11,427
3,498
2,376
2024
£
224,601
13,749
14,634
252,984
2024
£
5,000
18,967
7,310
31,277
2024
£
12,221		 Total
£
131,612
30,327
161,939
40,492
17,145
57,637
104,302
91,120
2023
£
208,569
13,747
11,027
233,343
2023
£
12,852
30,222
10,180
53,254
2023
£
4,142

Docusign Envelope ID: 96FB8476-3875-4326-BDAC-C59CB88338F8

DANCEBOX THEATRE WORKS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024

13 Retirement benefit schemes

(Continued)

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.

14 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 August Incoming Resources At 31 July
2023 resources expended 2024
£ £ £ £
General funds 312,024 1,028,444 (967,402) 373,066
Previous year: At 1 August Incoming Resources At 31 July
2022 resources expended 2023
£ £ £ £
General funds 367,631 844,390 (899,997) 312,024

15 Related party transactions

During the year the Charity entered into the following transactions with related parties:

Payments for services were made to the following key management personal as follows:

In Addition to the above, both the 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.

As at the year ended 31 July 2024, £224,601 (2023: £208,569), as disclosed in note 8 to the accounts, was owed b Dancebox Milton Keynes LLP, of which the key management personnel of Mr T Linecar-Boulton and Mr M Linecar-Boulton are equal members.

Docusign Envelope ID: 96FB8476-3875-4326-BDAC-C59CB88338F8

DANCEBOX THEATRE WORKS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024

16 Cash generated from operations 2024 2023
£ £
Surplus/(deficit) for the year 61,042 (55,607)
Adjustments for:
Investment income recognised in statement of financial activities (990) (2,103)
Depreciation and impairment of tangible fixed assets 17,145 8,153
Movements in working capital:
(Increase)/decrease in debtors (19,641) 76,623
(Decrease)/increase in creditors (21,977) 43,098
Cash generated from operations 35,579 70,164
17 Analysis of changes in net funds

The charity had no material debt during the year.