Charity Registration No. 1178796 Company Reglstratlon No. 06667896 IEngland and Wales) 2FACED DANCE COMPANY LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
2FACED DANCE COMPANY LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Trustses MrA M Green Ms E Knight Ms G Shire Ms A L Dallon-Hardy Mrs R Cook Ms Barttrop Ms Purcell IAppointed 1 July 20241 IAppointed 27 January 2025} IAppoinled 15 July 20251 IAppointed 15 July 20251 Secretsry MrA M Green Charlty number 1178796 Company number 066S7896 Registered office The Old Court Gaol Street Hereford HR1 2HU Independent examiner Kendall Wadley LLP Grants Lodge 71 Graham Road Malvern Worcestershire WR14 2JS
2FACED DANCE COMPANY LIMITED CONTENTS Page Trustees, report Independent examinerfs report statement of financial activities 9-10 Balance sheet Notes lo the financial ststemenls 13-27
2FACED DANCE COMPANY LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The Trustees present their annual report and financial statement5 for the year ended 31 March 2025. The financial slalements have been prepared in accordance with the accounting policies sel out in note 1 of the financial slalements and comply with the Charty's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities". Statement of Recommended Practi applicable lo charities preparing their accoun15 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Irelantl IFRS 1021 (effective 1 January 20191 Objectives and activities The objectives, as stated in the governing do¢uments, are lo advance and promote participation in and appreciation of performance art. especially in the form of dance, and lo provide education and training in performance art, especially dance and associated disciplines. In shaping our objectives for the year and planning our activities we have considered the Charity Commission's guidance on public benefit, including the guidance 'public benefit. running a charity IPB21" al our Trustees, meetings. In setting the levels of lickel prices, fees, and other charges the Board and senior management is committed lo ensuring that all activities are available to those on low incomes through the provision of free events, fair pricing, concessions and, where applicable, bursaries. The Trustees have paid due regard lo guidance issued by the Charity Commission in deciding what activities the Charity should undertake. Introduction 2024-2025 was 8 year of celebration. A year in which the company We able to celebrate 25 years of providing excellent work, celebrate its local community and start testing out some new, commercial models of working. Throughout the year, 2Fad Dance continued to demonstrate resilience and leadership in an increasingly precarious cultural landscape. Against the backdrop of reduced public investment. a volatile touring market and significant pressures on local authorities. the company maintained a steadfast commitment to a'StIC excellence, community impact and sector responsibility. As Co-chairs, we have been particularly proud of the organisalion's ability to operate wth inlegrty, care and innovation at a time when many small and mid-scale companies are facing contraction. Each of our highlighted projects this year reflects the company's commitment lo physically dynamic storytelling, with a distinctive emphasis on masculinity, idenlily, mental health and the lived experiences of marginalised or overlooked groups. This Ihemali¢ Consistency continues to strengthen 2Fa¢ed Dance's national profile as a company with a clear social purpose and a bold artistic vol. Our Herefordshire base continLJes to be both a challenge and a unique strength. The company plays a vital role in an area with limited cultural infrastructure, providing high-quality artistic experiences and spaces that might otherwse be unavailable lo local residents. However, with increased and rising core costs including the rent of the studios and staffing, the future very much remains fragile.
2FACED DANCE COMPANY LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Achievements and perforniance In its 25" year. 2Fa¢ed Dance continued to innovate, surprise and delight audiences, participants and the wider cultural landscape. The company has always been mented in ils locality, creating and encouraging the rich diversity of dance whilst reflecting and championing action for national concems. this year around wellbeing and sustainability. Our programming choices this year reflected a clear focus on environmental concems, mental health and wellbeing and social responsibility, rooted in our Herefordshire community while resonating nationally with urgent themes around men's mental health, environmentsl care and youth empowerment. 2Faced's continued emphasis on access and inclusion has ensured that our programmes remain open and welcoming lo those who face barriers lo participation, in line with our ¢harilable objectives. Outdoor Touring Our free lo access outdoor work plays a crucial role in our mission lo reach as many people as possible wrth exceptional dan. In 2024125 we performed outdoor 36 times to more than 15,000 people of all ages, al 18 feslivalslevenls, wi(h 4 different works. It is our flexible and responsive approach with festivals, touring a range of larger and smaller works that makes our reach possible. Fish Boy wth a cast of 4, Last Orders wth a cast of 4, Lungs of Our City wV(h a cast of 3 and Last Laugh with a cast of 2. This allows the company to respond to differing needs and budgets. We started to fully lour our children's show Fish Boy, to schools, venues and festivals. Initially in co<realion last year with local primary school pupils, Fish Boy tells the story of pollution In the River Wye and ils impact on our environment. In 2024125, FISH Soyenjoyed an exceptionally successful first year of touring, reaching audiences across the UK with ils dislinclivè blend of physical theatre, storytelling, and imaginative design. The production was widely praised for its ability to engage both young people and adults, wV(h many venues reporting strong attendance and enthusiastic audience feedback. Festival organisers and attendeeshighlighled the show's emotional depth. inventive choreography. and a¢ssibilitY including BSL and audio inlrodu¢tion. helping it stand out in a crowded touring landscape. The lour outdoors allowed us to once again start expanding the national profile of the company and building back after losing our regular funding and was a reminder that we produce exceptional work. Alongside Fish Boy we re- mounted Lungs of Our City, performing for the first time al Sailsbury International Festival and toured Sean Moss's Last Orders up north. We also created a new duel Last Laugh which had ils first outing at Oxford Dance Festival al the end of the year. Feedback from audlences 'The show was incredible. We couldn't believe the choreography music and staging.. °He barely look his eyes off the dancers (which we all know is a major compliment from a toddlerl and he spent a lot of the second ha of the show saying 'Wiere are you fish? Come back fishl Loved it. 'Such a beautiful wsy lo highlight the disgusting stale of our beautiful River 'Being able lo watch professional dancers was such a Ireal", we live in a rural county where access to the arts is limited or prohibitively costly due to travel, so I would like to thank the organisers and performers for such a super experience" °Excited. I want for morel 11 feels like you're on the quest with himl. Alongside the production of Fish Boy we ensured that as many elements of the production and tour were undertaken sustainably. Travelling by EV, printing our packs via risograph print and ensuring that venues and festivals rèceived our green rider. Our a¢tivity packs enabled us lo offer after show activities lo all children and parents, based on the NHS'S 5 steps of wellbeing and we produced a short film alongside spoken word artist Charlie Slaunlon, called Rivers That Dance.
2FACED DANCE COMPANY LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Fish Boy expanded in 2024 and was taken inside to maxirnise the impact of the production. A lighting designer was employed to ¢reale a design for the show and il was pèrformed four times al the Courtysrd Arts Centre and Dance East, Ipswich. Plans lo tske Fish Boy on lour in 2025 are In hand. Slte Speclflc One popular event, produced by the company and creatively directed by the company's ftjll lime dance artists, was LOCKED & ACCUSED. An interactive 'escape room, style immersive theatrical experience, based in the disused basement of the Centre for Movement. Using the location (old jail and law courtl as inspiration and drawing on local Hereford history the production pla participants al the centre of the story where together as a team they had lo navigate clues, physical tasks and emotionally charged encounters. A first for Hereford, audiences praised the work for ils inlensily, originality, and the way il mixed art with enlertainmenl. A community company worked alongside the professional company and the show was performed 22 limes over 5 evenings to 120 people Imax of 8 per showl. Audlenc& Fegdba¢k 'We absolutely loved the whole experience, the creab'vity, the danr$, the setting, the tssksll This was our first experience of an escape room and feel like you all set the bar loo high for us to try another one as feel like would be a disappointment if we went elsewherel!. 'It surpassed my expectations and the perfomiers were fantastic, engaging and entertaining R&D During the year and after undertaking a period of theoretical research, our Artistic Director began the practical research and development phase for the company's much anticipated new indoor work. With hopes of touring the show the following year, the company delved deeply into topics exploring men's mental health and the evolving meaning of masculinity in 2025., examining how pressures to be strong, suwssful, or emotionally contained. shape men's inner worfds. Questions emerged surrounding what happens when expectations collide, the need for connection and the quiet struggles men face. Forming a partnership with MIND Herefordshire, the company used testimony, movement and collaborative exploration to uncover the quiet struggles many men faCanxiety, isolation, inherited behaviours-and the courage required lo break cycles and redefine what strength can look like. The research and development process cenlred on honest conversations with men of different ages and backgrounds, revealing shifting attitudes toward identty. responsibility. and emotional openness. These insights informed a physi¢al language that balances tension and release, and a narrative that challenges stereotypes, honours lived experience and imagines a fLJture where men can express themselves freely. A short extrad of the R&D was performed both in the rehearsal studio and at the company's Retrospective evening in March. Retr05pective As part of the 25th anniversary celebrations, a Retrospective was held at The Centre for Movement in March. The company commissioned local photographer Emma Drabble to take 25 portraits of peoplè that had helped shape the past, present and future of the company. Alongside this there was an exhibition of images of the company's productions over the last 25 years and engagement work across Herefordshire and beyond alongside the winners of the school's MPetition. A launch reception was held, featuring a fundraiser that su¢¢essfully raised £5661 through a Combination Df donations, an auction and match funding through the BIG GIVE'S Arts for Impact Campaign. 432 people visited it across 3 days, and the online exhibition will be hosted on our website. In total this year the professional company performed 68 times lo approximately 19,432 people up and down the UK. Reaching diverse communities, rural and urban, young and old and mainly non-dance audiences.
2FACED DANCE COMPANY LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Learning Participation This year deepèned our commitment lo using dance as a tool for social connection, confidence building and belonging. Many of our workshops and rèsidencies supportèd young people navigating mental health Challenges, isolation, or lack of access to cultural provision, particulady in rural areas. The company's partnerships with schools. universities, the CAT network and community organisalions strengthened our role as a bridge btheen early talent, higher education and the professional sector. During 2024-25, 2Fad Dance Company's outreach and community programmes saw almost 17,000 people of all ages participate in a dance workshop, class, residency or project. Our highlights included". LocallylRegionally We delivered creative Fish Boy Workshops within 6 primary schools across Herefordshire We delivered a week residency at Bosbury Primary School to all year groups from Reception lo Year 6. We secured 3 opportunities for our youth company. 2Fad Youth, to perform in 2024125 and we were proud and delighted when they were accepted into the rIOnal finals of the national U.dance event. Alongside this they also look part in their own mini lour, performing a collection of work curated by 2Faced Youth Lead John Robinson, 2FY alumni and guest performers from HCA and Fairfield High School. Alongside this we hosted gUlar company class for professional dancers Our weekly Community dan classes al our studios grew. and were allended by those aged 4- 84 We continued to deliver regular after school clubs al a host of very rural local primary schools. We continued working with Young People attending Pupil Referral units and saw an increase in the number of neurodiverse young people attending our dan classes. Nationally We continued our partnership wlh Lincoln University delivering a choreographic residency lo the 3rd year BA Students for the fourth year running We delivered summer classes lo National Youth Dance Company Vvales students and continued to run the weekly contemporary classes for London Studio Centre Associates Iwest Midsl We delivered day workshops and choreographic residencies to CAT students in Birmingham, Nottingham and Ipswich. On lop of these highlights, we delivered an additional number of school workshops, work experience plaents, community sharing's, shows and training sessions. Feedback from partlclpants '2Faced Dance has been a huge part of the children's lives. 11 is more than simply a dance Class. It helps build transferable skills such as presentation, improved ¢oordinalion, increased confidence. people skills elc which can all be used in life" 'It would feel like a huge loss. A hole that would remain unfilled. No where else is like 2FD and we previously had taken her lo dance classes in quite a wde radius from where we live bul none came anywhere dose lo 2FD. I think partly il's the male teachers, but it'5 also the approach, ethos, great venue and vibe. 2FD aren't replaceable or easy lo replicate. 11 is unique and special, and we feel hugely grateful to have them in our childs lifè. '2FD are a huge positive influence in her childhood.. All of this work is only possible with the support of those around us,. local and national trusts and foundations including.. The Elmley Foundation, UKSPF, Arts Council England, Hereford City Council, Big Give, Garrick Club, Foe Foundation, Hereford Community Foundation and EF Bulmer and of course individual support and donations from the public, both local and from further afield.
2FACED DANCE COMPANY LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Online Digital conlenl remains 8 key means of ¢ommunicaling with our 8udiences." on our website, through our short films and our social media channels. Our robust soaal mèdia plan has seen our social media channels continue to grow in 2024125, with over 44,000 followers collectively across Facebook, Instsgram, Twitter lor X") Vimeo and Linkedln. Conlenl shared across our social media channels, in particular on Inslagram, are seeing substsnlial levels of engagement, providing an a¢¢essible way for audiences who might not usually engage with our work to see what we do. Our total live and digital audiences across the year were 63,432, including participants a total of 80,432 people engaged with our work. We would like lo recognise the dedication of the staff team, freèlancers, trustees, artists, supporters and partners who have contributed lo 2Faced Dance during an exceptionally challenging year for the cultural sector. Despite the pressures facing small and mid-scale organisalions nationally, the Company has Continued lo create bold work. reach new audiences and support community'es across Herefordshire and beyond. We remain ¢ommitted to Championing dan as a force for social impact and creative expression. and to ensuring that 2Faced Dance continues to be a resilient, indusive and relevant organisation for many years lo come. Plans for the future Our mulli-faceled approach lo different projects has enabled us lo build on our Community outreach programmes, support young tslenl right across the UK and create work alongside some of Herefordshire's most underserved areas. By working in this way. we have created a portfolio of innovative shows, films. educational and health and well-being resources, photography and printed media. We look forward lo Continuing to empower audiences and partiapants up and down the UK with our innovative storytelling and powerful visuals. Looking ahead, 2Faced Dance Company is preparing for a period of bold growth, creative innovation, and deeper community Impact. Building on the momentum of recent touring work and the success of our Learning and Parti¢ip8tion programmes, the company will continuè lo champion underrepresented voices, nurture emerging tslenl, and push the boundaries of contemporary performance. Future plans include expanding our national and international touring. developing new inlerdis¢iplinary productions, and strengthening our Commitment lo work that addresses urgent social themes-particularly those affecting men and boys. We aim to grow our partnerships with schools, cultural organisations, and community groups, ensuring that our work reaches further and resonates more widely. Alongside this, we will invest in organisalional resilience, artist development, and new digital opportunities to secure a sustainable and ambitious future for the company. Our goal Is simple.. lo make powerful, relevant dance that changes lives, sparks conversation, and leaves a lasting legacy.
2FACED DANCE COMPANY LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Financial review During the year total income received amounted lo £364,17012024'. £366,828). £198.9771550/o 12024.. £265,3331720hl of total income was achieved via grants, with the management team working hard to secure income from a decreasing public funding pot. £16,25814% 12024.. £20,04115°kl of income came fundraising events and donations from our loyal supporters. £34,32519°k12024.' £28,74218°/ol of income related lo perfomiance fees from touring our creative works, with touring activity increasing slightly year on year despite the difficulties in the sector generally. £44,7531120A 12024". £42,4921110/0l Came from generated income in the form of studio hires, class programmes and community outreach work which is a core part of the company's aclivilies, bringing dance lo a wider audience in rural areas. Despite careful management and cost control measures total expenditure rose 1 O9h year on year lo £397,876 12024.. £361,592) which resulted in an overall deficit of £33,70612024'. Surplus £5,0361. Expenditure on core team salaries remains our primary outgoing in the year. Inflationary and minimum wage increases were given to staff lo help maintsin and relain these employees and an additional dance artist was employed. Produdion costs and tour travel increased year on year as these are directly related lo the number of works created and the performances undertaken. Despite inflationary pressures on other costs, increases in rent, insurances and building maintenance were kept to a minimum. Principal funding sources The following granl-giving bodies donated to the charitable company during the year.. The Elmley Foundation, Arts Council England, UK Shared Prosperity Fund, The Foyle Foundation, Hereford City Council, Hereford Community Foundation, the Garrick Trust and EF Bulmer Trust. Structure. goveman¢e and management The Charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee as defined by the Companies Act 2006. 2Faced Dan Company Limited incorporated on 8 August 2008 and registered 88 a charity on 16 June 2018. The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were". MrA M Green Mr J N Jones Ms E Knight MSA R Thomas Mr J R Boyle Ms J R Cleves Ms JAGlawe Ms G Shire Ms A L Dalton-Hardy Mrs R Cook Ms Badlrop Ms PLJrcell (Resigned 15 April 20241 (Resigned 11 November 20241 (Resigned 15 July 20251 (Resigned 1 July 20241 (Resigned 15 July 20251 IAppoinled 1 July 20241 (Appointed 27 January 20251 IAppoinled 15 July 20251 (Appointed 15 July 20251
2FACED DANCE COMPANY LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 In the year the Board began a period of renewal and reflection to ensure it has the right blend of skills, perspectives and lived experience lo guide the company and 5UPPOrt the executive through the increasing fragility of the cultural landscape. This Indudes work to improve board dynamics. crèate Clearer communication pathways with the Executive Team, and strengthen strategic oversight. The Board remains committed to fostering a culture of transparency, accounlabilily and trust, while ensuring that governance arrangements are proportionate lo the size and Capacity of the organisalion. Directors retire by rotation every three years but are free to be re-elected again straightaway. As part of govemance arrangements, the board reviews ils strengths and skills on a regular basis to identify areas of need, informing the Board recruilmenl strategy. None of the Trustees has any beneficial interest in the company. All of thè Ttuslees are members of the company and guaianlee to contribute £1 in the event of a winding up. 2Faced Dance is managed by a Board of Trustees who also act as directors of the Company. Trustees are recruited from a variety of sectors and demonslrale a lange of skills Including fundraising, education, HR, corporate govemance, marketing, arts, and business development. The Board delegates day-to-day operational responsibility to the Artistic Director. Tamsin Fitzgerald. Pay is reviewed for all staff annually, and annual rises, when affordable, are based on the latest intelligence on comparable posts, rate of pay in the arts sector. Newly appointed Iruslees re1ve a comprehensive induction into the Company, including a meeting wrth the Chair lo discuss the role of the Board and responsibility of the trustees, and a meeting wth the Executive Team to discuss art15tic and management objectives. An induction pack contain5 the Company business plan and ¢onlribulory documents," a copy of the goveming documents., all current policies including Safeguarding, Equal Opportunrties and Health & Safely., the most recent annual report., current annual budget and most recent management accounts and an OLJlline of the responsibilities of the role of a Trustee. Trustees are encouraged to attend perfomiances of the Company's work where possible. The Trustees. report was approved by the Board of Trustees. MrA M Green Trustee Dated.. 11 December 2025
2FACED DANCE COMPANY LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF 2FACED DANCE COMPANY LIMITED I report lo the Trustees on my examination of the financial statements of 2Faced Dance Company Limited Ilhe Charity) for the year ended 31 March 2025. Responsibilities and basis of report As the Trustees of the Charity land also ils directors for the purposes of company lawl you are responsible for the preparation of the financial stslemenls in accordance with the requirements of the Companies Act 2006 (the 2006 Act). Having satisfied myself that the financial statements of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination. I report in respect of my examination of the Charity's financial statements carried OLJI under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Independent examinerfs ststement Since the Charity's gross Income exceeded £250,000 your examiner musl be a member of a body listed in section 145 of the 2011 Act. I confim that l am qualified lo undertakè the examination because l am a member of The Institute of Chartered Ac¢ounlanls in England and Wales, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection wfth the examination giving me cause lo believe that in any material respect". accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act., or the financial slalements do not accord with those records., or the financial stslemenls do not comply with the ac¢ounling requirements of section 396 of the 2006 Act other than any requirement that the aOnIS give a true and fair view which is not a matter wnsidered as part of an independent examination., or the financial 5talemenls have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no concerns and have come across no other matters in connection with the examination lo which attention should be drawn in this report in order lo enable a proper understanding of the financial slalements lo be reached. Sarah Morley ACA for and on behalf of Kendall Wadley LLP Granla Lodge 71 Graham Road Malvern Worcestershire WR14 2JS Dated.. 11 December 2025
2FACED DANCE COMPANY LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Current financial year Unrestrlcted Unrestrlcted Restrlcted funds funds funds general deslgnated 2025 2025 Total Total 2025 2025 2024 Notes Income and endowments from: Donations and legacies Charitable adivities Other trading activities Investments Other income 5,280 79,079 9,261 1,717 71,856 196,977 202,257 79.079 9.261 1,717 71.856 272,041 81,234 10.595 2,738 20 Total income 167,193 196,977 364,170 366,628 Ex enditure on- Charitable activities 220,852 17,727 159,297 397.876 361,592 Net loutgoingllincoming resources before transfers {53,6591 117,7271 37,680 133,706} 5,036 Net loutgoingllincoming resources before transfers {53,6591 117,7271 37,680 133,706} 5,036 Gross transfers between funds 15 Net lexpenditurellincome for the yearl Net movement in funds {53,6581 117,7281 37,680 133,706} 5,036 Fund balances al 1 April 2024 67,512 172,430 2,198 242,140 237,104 Fund balances at 31 March 2025 13,854 154,702 39,878 208,434 242,140 The ststemenl of financial activities includes all gains and losses recognised in the year. The statement of financial activities indudes all gains and losses recognised in the year. All income and expenditure derive from eonlinuing aclivilies. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
2FACED DANCE COMPANY LIMITED STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Prior financial year Unrestrlcted Unrestrlcted Re$trlcted funds funds funds general deslgnated 2024 2024 Totsl 2024 2024 Notes Income and endowments from: Donations and legacies Charitable adivities Other trading activities Investments Other income 129,773 81,234 10,595 2,738 20 38,236 104,032 272,041 81,234 10.595 2,738 20 Total income 224,360 38,236 104,032 366,628 Ex enditure on- Charitable activities 209,265 23,439 128.888 361,592 Net loutgoingllincoming resources before transfers 15,095 14,797 124,856} 5,036 Gross transfers between funds 15 117,3931 17,393 Net lexpenditurellincome for the yearl Net movement in funds 12,2981 14,797 17,463} 5,036 Fund balances al 1 April 2023 69,810 157,633 9,661 237,104 Fund balances at 31 March 2024 67,512 172,430 2,198 242,140 The ststemenl of financial activities includes all gains and losses recognised in the year. The statement of financial activities indudes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies A 2006. 10-
2FACED DANCE COMPANY LIMITED BALANCE SHEET ASAT31 MARCH 2025 2025 2024 Notes Flxed assets Tangible assets Current assets Stocks Debtors Cash at bank and in hand 18 67,591 89,292 17 18 100 80,156 92,778 100 24,255 150,914 173,034 175,269 Credltors: amounts falllng due wlthln one year 19 132,1911 122,4211 Net current assets 140,843 152,848 Total assets less current liabilities 208,434 242,140 Income funds Restricted funds Unrestricted funds Designated fLJnds General unrestricted funds 21 39,878 2,198 22 154,702 13,854 172,430 67,512 168.556 239,942 208.434 242,140
2FACED DANCE COMPANY LIMITED BALANCE SHEET ICONTINUED) ASAT31 MARCH 2025 The company is entitled lo the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2025. The members have not required thè company to obtain an audit In accordance with sedion 476 of the CompaniesAcl 2006. The directors ackno1edge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true fair view of the Stale of affairs of the company as at the end of the financial year and of ils incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating lo financial statements, so far as applicable to the company. The members have not required the company to obtain an audit of its finan¢ial ststemenls for the year in question in accordance with section 476. These financial slalements have been prepared in acrdanCe with the provisions applicable lo companies subject to the small companies regime. The financial stslemenls were approved by the Trustees on 11 December 2025 MrA M Green Trustee Company Reglstratlon No. 06667896 12-
2FACED DANCE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies Charity inforniation 2Faced Dance Company Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is The Old Court, Gaol Street. Hereford. HR1 2HU. 1.1 Accounting convention The financial statements have been prepared in accordance wrth the Charity's governing document, the Companies Act 2006 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 IFRS 1021 leffeclive 1 January 20191" The Charity is a Public Benefit Entity as defined by FRS 102. The Charity has tsken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Stslemenl of Cash Flows. The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetsry amounts in these financial stslemenls are rounded lo the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are sel out below. 1.2 Going ¢on¢em Al the lime of approving the financial slatemenls, the Trustees have a reasonable expectation that the Charity has adequate resOUrS 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 Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives. Reslricled funds are subject lo specific conditions by donors or grantors as lo how they may be used. The purposes and uses of the restricted funds are set out in the notes lo the financial slalements. 1.4 Income Income is recognised when the Charity is legally enb'tled to il after any performance conditions have been mel, the amounts can be measured reliably, and it is probable that income wll be reived. 1.5 Expenditure Liabilities are recognised as expenditure as SODn as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related lo the category. Vvhere costs cannot be direcuy attributable lo particular headings they have been allocated to 8Ctivilies on a basis consistent wlh the use of resources. 13-
2FACED DANCE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 MARCH 2025 Accountlng pollcles Icontlnuedl 1.6 Tanglble flxed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impaimient losses. Depreciation is recognised so as lo write off the cost or valuation of assets less their residual values over their useful lives on the following bases". Plant and equipment Fixtures and fittings Motor vehicles 250A Reducing balance 250A Reducing balance 250A Reducing balance The gain or loss arising on the disposal of an asset is determined as the differen between the sale prOed$ and the carrying value of the asset, and is recognised in the statement of financial activities. 1.7 Impairment of fixed assets At each reporting end date, the Charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss lif any). 1.8 Stocks Nel realisable value is the estimated selling price less all eslimaled costs of Completion and costs to be incurred in marketing, selling and distribution. 1.9 Cash and cash equivalents Cash and cash equivalents include cash in hand. and deposits held al call with banks. 1.10 Financial instruments The Charity has èlected to apply the provisions of Section 11 'B8sic Financial Inslrumenls, and Section 12 'Olher Financial Instruments Issues, of FRS 102 to all of ils financial inslrumenls. Financial instruments are recognised in the Charity's balan sheet when the Charty becomes party to the ntractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial stslemenls, when there is a legally enforceable right lo sel off the recognised amounts and there is an Intention lo settle on nel basis or to realise the asset and settle the liability simultaneously. BasiTC financial assets Basic financial assets, which include debtors and cash and bank balances. are initially measured at transaction price including transaction costs and are subsequently carried al amortised cost. Finanryal assets classified as receivable within one year are not amortised. Baslc flnanclal Ilabllftles Basic financial liabilities, including creditors are initially recognised al transaction price unless the arrangement conslitules a financing transaction. Financial liabilities classified as payable within one year are not amortised. Derecognition of financial liabilities Financial liabilities are dèrecognised when the Charty's contractual obligations expire or are discharged or cancelled. 14-
2FACED DANCE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 MARCH 2025 Accountlng pollcles Icontlnuedl 1.11 Employee beneflts 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 lo lerminale the employment of an employee or to piovide lerminalion benefits. 1.12 Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. Crltlcal accountlng estlmates and Judgements In the application of the Charity's accounting policies, the Trustee5 are required lo make judgements, eslimales and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The eslimales and associated assumptions are based on historical experience and other factors that are considered lo be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting eslimales 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. 15-
2FACED DANCE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 Dona¥on8 and IBga¢lg5 utrict R•Ètritt•d fund¥ lunds general 2026 Totsi Unresthtted UnrÈytriCted Rester1 funds funds 2025 2025 2024 2D24 2024 2024 Oonabony 2nd 9rfts Grants 3.260 2,000 3.260 198,9TI 6.708 123.065 6.708 265,333 196,977 38,236 104.032 S.250 196.977 202.257 129.773 38.23f 104.032 272.041 Gronts r•¢•iViO for¢orè a¢tivitWg ATts counci1-caO of Tomo1>W UKSPF Norihem School ol CoThtemporary Dance Éarrick Foundation Crant Her&ford City Rewospe¢tive The Elnley FtsundÈtion Arts Council England- Fish 8oy Her&fordshire Council EF BulmerTruSt The Foyle FoundatiD 99.99B 39,000 99,998 39,000 114.065 9.000 89.807 9705 1.520 203,B72 18,705 1,S20 2,000 2,000 3,000 1S.000 9,979 6,000 9.000 15,000 3,000 15.000 9.979 8,000 9.000 15.000 38.23 38.236 3,000 3.000 2.000 196.977 198.977 123.QES 38.23 104.032 268.333
2FACED DANCE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 MARCH 2025 Charitable activitie5 Advance and Educats and promote Train 2025 2025 Total Advance and Educate and 2025 promote Train 2024 2024 Total 2024 Sale of goods Performance related grants 44,800 34,279 79,079 39.495 31,739 71,234 10,000 10,000 44,800 34,279 79,079 39,495 41,739 81,234 Perfomiance related grants The Elmley Foundation 10,000 10,000 10,000 10,000 Other tradlng actlvltles Unrestricted Unrestricted funds funds general general 202S 2024 Fundraising events 9,261 10,595 Income from investments Unrestricted Unrestricted funds funds 2025 2024 Interest receivable 1,717 2,738 Other income Unrestricted Unrestricted funds funds 2025 2024 Other income 71,856 20 17-
2FACED DANCE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 Adva¢& ndEdrtat and Promots Trnin 2026 Total Advant• andEduC4tè Ind 2025 Prornote Train 2024 2024 2026 2024 otorv•hKl•expen6es 5,052 2,788 27,532 17,228 2,439 22,235 5,052 2.788 41.146 18,404 2.439 22.235 555 203 2,731 642 41,030 642 26.616 13.930 2.481 28.917 214 315 Rent and storage space 14,414 Cleaning Freelathce artists WOrkshoptrov ¢¢sts Srnall equipment 2.481 30,613 235 443 203 77,589 15,233 92,822 75.846 92,287 Shar8 of supportcosts Is88 note 91 Share of gwrnance cosis Ise noty 91 303,254 303.254 1,800 267.048 2,257 267,048 2,257 382,643 15,233 397.876 16,441 361,592 Analyi$ ty fund urtriCid funds- general UnrestTrcW funds- ResI[ted funds 205,619 17,727 159,297 15,233 220,852 17,727 159.297 192.824 23.439 128.888 16,441 209,265 23,439 128.B8B 382,643 397,876 361,592
2FACED DANCE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 MARCH 2025 Support costs Support Governanco Costs Costs 2025Support costs Govemance costs 2024 staff costs Depreciation Freelancers staff welfare Payroll fees Bookkeeping Bank charges Insurance Subscriptions Telephone Postage and stationery Sundries Professional fees Recruitment fees Repairs and maintenance Advertising Fundraising costs 217,719 22,350 13,615 2,609 217,719 22,350 13,615 2,609 173,684 29,742 10.837 2,980 483 18,935 458 2.623 2,923 1,722 178 538 5,892 5,766 173,684 29,742 10,837 2,980 483 18,935 458 2,623 2,923 1,722 178 538 5,892 5,766 15,702 507 2,720 1,003 3,740 287 1,431 4,603 1,036 15,702 507 2,720 1,003 3,740 287 1.431 4,603 1,036 1,761 9,221 4,950 1,761 9,221 4,950 601 6,449 3,237 601 6,449 3,237 Independent examination Trustee expenses 1,800 1.800 1,200 1,057 1,200 1,057 298,304 1,800 300,104 263,811 2,257 269,305 Analysed beeen Charrtable activities 303,254 1,800 305,054 267,048 2,257 269,305 10 Net movement in funds 2025 2024 The nel movement in funds is slated after chargingllcreditingl.. Fees payable for the independent examination of the charity's financial slalements Depreciation of owned tangible fixed assets 1,800 22,349 1.200 29,742 11 Trustees None of the Trustees lor any persons Connected with them) received any remuneration during the year, but 2 of them were reimbursed a total of £339 travelling expenses 12024- one trustee was reimbursed £103 travelling expenses). 19-
2FACED DANCE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 MARCH 2025 12 Employees The average monthly number of ernployees during the year was.. 2025 Number 2024 Number Employment costs 2025 2024 Wages and salaries Social security costs Other pènsion costs 199.442 13,814 4,463 160,975 9,193 3,516 217,719 173,684 No employees received emoluments in excess of £60,000. 13 Key management personnel Remuneration of key management personnel The remuneration of key management personnel was as follows.. 2025 2024 Aggregate compensation 84,000 74,087 14 Taxation The charity is exempt from laxalion on its acb'vity'es because all ils income is applied for ¢harilable purposes. 15 Transfers Other transfers of £112024- £17,393) have been made from designated funds to unreslricled funds. -20-
2FACED DANCE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 MARCH 2025 16 Tangible fixed assets Plant and Fixtures and equipment rittings Motor vehicles Total Cost At 1 April 2024 Additions 21.584 649 70,856 60,443 152.883 649 At 31 March 2025 22,233 70,856 60,443 153,532 Depreclatlon and Impalrment Al 1 April 2024 Depreciation charged in the year 8,007 3,421 37,230 8,406 18,355 10,522 63,592 22,349 Al 31 March 2025 11,428 45,636 28,877 85,941 Carrying amount Al 31 March 2025 10,805 25,220 31,566 67,591 Al 31 March 2024 13,578 33,626 42,088 89,292 17 Stocks 202S 2024 Finished goods and goods for resale 100 100 18 Debtors 202S 2024 Amounts falling due within one year: Trade debtors Other debtors Prepayments and accrued income 3,108 4,382 3,811 13.262 74.248 77,356 21,455 2025 2024 Arnounts falling due after more than one year: Prepayments and accrued income 2,800 2,800 Total debtors 80,156 24,255 21
2FACED DANCE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 MARCH 2025 19 Creditors: amounts falling due within one year 2025 2024 Other tsxation and social security Trade creditors Other creditors Accruals and deferred income 4,492 6,808 3,250 16,475 42 2,654 20,891 32,191 22.421 Deferred income of £1,225 12024.. £1,169) is induded in accruals above. The deferred income relates lo income paid In advance for community dasses, workshops and room hire post year end. 20 Retirement benefit schemes 2025 2024 Deflngd ¢ontrlbutlon Schgmes Charge to profit or loss in respect of defined contribution schemes 4,463 3,516 The Charity operates a defined wntribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the Charity in an independently administered fund. -22-
2FACED DANCE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 R•strfctsd funds The resthtted lund$ of the thènty ctsmprisèthe unexpended baNCeS of donthns and grants held On truyt $ubiecttD $pecili¢ condititsn$ by donots &$ to htrw they may b8 d. Mov¥mpntin fund# Movim#nt in funds Peiour¢e• Bilanreal •xp#nd•d J1 Marth2425 eat I AW112D2J MsoknY¢è8 1 A2ll24 Bench The Ctrop FoundabOTh- Space to Conne Futures Fund National Lottery Community Fvund- Multkstvry Norubem sthool ContempDrarydance- BulS£ry EF BulmerTTUSt Thg Foyle FvuThdat The EIneY FtsundÈtitsn ATts Council UKSPF HeTpIotd Cty Council ATts Council- Fish Boy 3,442 13,4421 4,510 l.S20 9.000 15.000 15.000 99.998 48.000 9,000 15,0 15,000 9,705 3.000 B9,807 17.393 1,043 9.979 9.661 104.03 17.393 2,198 196.977 3>,678 23-
2FACED DANCE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 R•¥trfctsd funds Icontynu•dl Bench-a devdopmEntand support programfflewhich 2FD hag created to combat uendEr Inequalty In dance. This fund will be used forc0mmioni9 and events. stsrt- a M-yearprogrrnrne worf<ing with schools in Heref0rdshI with (xltutsl wsrts. wothshops. teacherCPDand special eventsfDryoung peOe Space tts ConTheet- consult artists Ènd mierfrSME's from the ereÈtivèleulturd indugtrieg a¢rO$$ HeI0$hIre a3 we had 8 Collectivè desire to eng29è in 8 conversation and try to find a StIOn tD ourcollective lackDfaccess to appropriate Spa In our¢ounty- Mumtory- SUPPDrtforan OUtdrCom[UTrty Sh( to tske pl8 In the roof of a multi-storycarpatk In Herefard. This took pLOle dueto cowd resulting In redu $pendiDg. 8ursary- Notthétn Schwl of contgmrary Danc& contribut8 towards Iho cost of paying a bursary to apprantlC8 dancer and Unde1VIte th& tounng costs of sa apprentl¢t. Company of H•reford$hire Community Fund fora neWmMUnity dass w be run oversummer2020, pos*oDed du•to covhj. Th8 Elmley Foyndatiw- laYearwlth kiD¢ p8nDI¥s thg¥e rnonv8$ wgrg rfrdesignaled to fund a digital programmg. Thk4 ygar were rgc91Vgd In r91ation to theathst programme. Arts Council-9rarl rKei¥ed forth• creolion of work, Tomorfutyé. UKSPF-grant rE1V@d from th8 QUIra1 DeIDPellt and CUlra1 Programming schemas. Herefordshire ¢ty ¢Duncl-gr8ntti)wards costs af our 25th Anniversary"Retrospective' Exhibition. Arts Council- Fish Boy- proJECtgrantlorlhE creabDn of a newWD. Bulmer F¢undabOn- grant re¢eived 1¢rTOwns1Ve proje. a senes of11 events In dewved rur markeitowns. FoW8 Foundation-grant rece@d forth8 cr8ation of n8LY Wotk. Tomorrow. 24-
2FACED DANCE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 MARCH 2025 22 Designated funds The unreslricled funds of the charity comprise the unexpended balances of donations and grants which are not subject lo specific conditions by donors and grantors as to how they may be used. These include designated funds which have been sel aside out of unreslricled funds by the trustees for specific purposes. Movement in funds Incoming Resource5 Balance at resources expended 1 April 2024 Balance at 1 April 2023 Resources expended Transfers Balance at 31 March 2025 Arts Council- Cultural Recovery Fund Risk reserve Fixed assets DCMS- Cultural Recovery capitsl grant 100,000 3,610 100,000 2,720 100,000 2,053 18901 1667) 54,022 38,236 122,5491 69,709 117.0601 52,649 157,633 38,236 123,4391 172,430 117,7271 154,702 Arts Council England CultLJral Recovery Grant - Funding was provided during the year to assist with the survival of the organisation during the Covid-19 crisis, it was originally provided to cover support for a 6 month period lo 31 March 2021, however, this was extended to 30 June 2021. Risk reserve - It is the policy of the charity lo maintain sufficient unreslricled reserves, which are free reserves of the charity to close down the organisalion. In accordance with Charity Commission guidelines these represent three month's running costs of the charity. Based on the 2021122 budget this amounted lo £100,000 and therefore this amount was transferred from unrestricted lo designated reserves. Fixed assets- assets purchased using restricted funds a¢¢ounled for through transfer lo designated fund. DCMS- Cultural Recovery Capital Grant- rinal instalment of the grant received in 2022 for capital expenditure to improve accessibility lo the studio space and have a greener impact for our touring works. -25-
2FACED DANCE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 23 AnJlys18 vf n•taS$gts b•tsvgw fvnd VTrre$trlcted Deslgnated Ro$trScted funds funds funds 2025 202$ 2025 Total Unresbicted Oesignad eted lunds 2024 Total 2025 2024 2024 2024 Fund balan3 st 31 March 2025 sre represented by.. Tangit4t osss CuTrentllialitleS)1aSsets 52,929 829 39.049 67,591 140,843 4S.380 .152 42,825 129,605 89,292 152,B4B 13.854 154,702 39.878 208,434 67.S12 172,430 2.198 242,140 28-
2FACED DANCE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 MARCH 2025 Operating lease commitments Lessee Al the reporting end dale the Charty had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows.. 2025 2024 thin one year Beeen two and five years 40,000 70,925 29,925 110.925 29,925 -27-