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2024-03-31-accounts

Registered number: 10537823 Charity number: 1183150

RUSSELL MALIPHANT DANCE COMPANY

(A company limited by guarantee)

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

RUSSELL MALIPHANT DANCE COMPANY (A company limited by guarantee)

CONTENTS

Page
Reference and administrative details of the Company, its Trustees and advisers 1
Trustees' report 2 - 8
Independent examiner's report 9 - 10
Statement of financial activities 11
Balance sheet 12
Notes to the financial statements 13 - 23

RUSSELL MALIPHANT DANCE COMPANY

(A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024

Trustees Phillippa Adamson
Fleur Derbyshire-Fox
Stuart Griffiths OBE
Harry MacAuslan, Chair (resigned 20 March 2024)
Steven Spier, Chair (appointed 20 March 2024)
Louise Shand-Brown
Hamble Wallace (resigned 27 May 2024)
Joseph Henry
Company registered
number
10537823
Charity registered
number
1183150
Registered office
Russell Maliphant Dance Company
Excelsior Studios
17 Sunbeam Road
London
England
NW10 6JP
Executive Director
Martin Collins (to 31 October 2023)
Artistic & Executive
Director
Dr Russell Maliphant, OBE
Accountants
Nyman Libson Paul LLP
Chartered Accountants
124 Finchley Road
London
NW3 5JS

Page 1

RUSSELL MALIPHANT DANCE COMPANY

(A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2024

The Trustees present their annual report together with the financial statements of the company for the year ended 31 March 2024 which are also prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes.

OBJECTIVES AND ACTIVITIES FOR THE PUBLIC BENEFIT

For the benefit of the public to advance the arts through the creation and performance of dance, exhibitions or other artistic performances and to advance education by encouraging the understanding and appreciation of the performing arts, particularly the art of dance.

OUR VISION

Is to create art, relationships and opportunities through dance.

OUR MISSION

Is to push the boundaries of movement, light, music, and the concepts of dance, opening this up to our global audiences through touring, discussion and education.

OUR AIMS

We create the conditions within the company where all involved can feel comfortable and supported to produce their best work.

We push the artistic boundaries and methodologies, through innovative, experimental collaborations that combine dance with film, site specific settings and other media.

We challenge conventional ideas and assumptions of what is best practice, and what is expected from our participants in both learning and performance environments.

We champion diversification, critical feedback, environmental understanding, the collection of statistical and ethnographic data, and we embrace the use of empirical evidence to bring about change. We believe listening and learning will help our art be more relevant.

We develop tomorrow’s dancers, choreographers, administrators and associate collaborators within professional and community settings.

RMDC’s work has a proven strong, loyal core audience and our experimentation in form and medium is aimed at bringing in new and more diverse audiences.

Russell Maliphant Dance Company (RMDC) objectives are:

Russell Maliphant Dance Company (RMDC) is a world class contemporary dance company founded on the vision of Olivier award winning choreographer Russell Maliphant, RMDC’s Artistic Director. Originally founded in 1996, RMDC is based at DanceEast in Ipswich and occupies a unique space in the UK dance ecology. Over the last 27 years, RMDC has consistently created innovative new dance works exploring the special relationship between light, movement and sound for audiences, professional creatives, emerging talent and young people across the UK.

Russell Maliphant enjoys a world class reputation for his unique contemporary dance choreography, which has been created in partnership with leading collaborators such as Sylvie Guillem, Robert Lepage, Isaac Julian, Michael Hulls, Balletboyz, Panagiotis Tomaras and the Lyon Opera Ballet to name but a few.

Maliphant’s language is transdisciplinary, spanning formal classical and improvised contemporary techniques, yoga, capoeira and tai chi, and is heavily influenced by lighting technology, anatomy, rolfing, physiology and

Page 2

RUSSELL MALIPHANT DANCE COMPANY

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

biomechanics.

Seminal works include Vortex, Silent Lines, Push, Broken Fall, The Rodin Project and Critical Mass. Awards include: three Olivier awards, three Critics Circle awards, three Southbank Show awards, two Time Out awards and two Knight of Illumination awards.

The consistent quality and integrity of RMDC’s work is testament to Maliphant’s artistic vision and talent. Alastair Spalding, Artistic Director and CEO of Sadler’s Wells London has observed that “The detail and rigour with which Russell focuses on the ‘quality’ of movement in his choreographic craft is second to none, and produces choreographic masterpieces”.

2023/24

ACHIEVEMENTS AND PERFORMANCES

1) TOURING AND PERFORMANCES

In 2023/24 our principal focus was the continued touring of Vortex, expanding its reach via digital engagement and the reorganisation of the company into a sustainable commercial model, while maintaining the delivery of our charitable objectives.

This tour was marked by significant milestones in audience development, inclusivity, and environmental responsibility, reflecting our dedication to making the arts accessible and sustainable. Our objective to engage a 10% D/deaf audience was closely met, achieving a 9% reach, as verified by our audience data survey. This success was underpinned by a suite of educational programmes and accessible features, including BSL-signed talks and audio education packs for the visually impaired.

A notable highlight of our tour was the outcomes of our Dance Encounter Fund, through which we collaborated with Icon Theatre in Medway to benefit 30 young people. These participants enjoyed transportation, complimentary tickets, and insights into the technical aspects of theatre production. One participant expressed how witnessing the production process in rehearsals and understanding the technical setup profoundly influenced their interest in theatre.

‘Seeing the production in rehearsals, understanding the technical set up and how a show can transfer from one venue to another was eye opening - it really made me interested in that side of things’ (Icon Participant).

Another significant initiative involved Dance United Yorkshire, where 45 female refugees and victims of domestic abuse experienced an enriching cultural outing at the Lawrence Batley Theatre. One participant shared how this outing broke her two-month public isolation, transforming her year and providing much-needed respite and joy. Additionally, our partnership with Dance City Frontline Families offered participants a holistic experience, including a workshop and a post-show discussion with Russell Maliphant, which participants found incredibly enriching and engaging.‘This is the first time I have been out in public for 2 months, money is such a problem for me, I don't have support at home. This transformed my year, I would never have seen this without this’ (Dance United Yorkshire Participant).

Our efforts have not only fostered inclusivity and education but also significantly improved our environmental impact. By implementing a carbon-cutting strategy and utilising a data capture calculator, we achieved a 15% reduction in our carbon footprint, demonstrating our commitment to sustainability. Our tour, spanning venues from Lancaster Arts to artsdepot in London, was a testament to our continuous innovation and dedication to delivering exceptional and accessible cultural experiences.

Page 3

RUSSELL MALIPHANT DANCE COMPANY

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Our audience feedback data for 2023/24 surged by 1336% from the previous year. This included invaluable feedback shared with stakeholders.

Our commitment to inclusivity was reflected in our outreach to marginalised communities. This endeavour, initiated by our Education Manager, resonated deeply with our team, fostering meaningful post-performance interactions. Strengthening bonds with venues remains crucial for us. We innovated by introducing broadcast opportunities and audio descriptions, widening audience reach. The partnership and collaboration with Lancaster University proved economical and constructive, as we were able to build in rehearsal time during the tour week, getting our production back on the road after a short break. Our technical refinements, aided by Sadler’s Wells crew, not only bolstered our health and safety protocols but also enriched our technical manager's expertise, streamlining our tour setups.

In 2023/24 our principal focus was the continued development and touring of Vortex and Silent Lines, a 9 venue tour to 1,356 people:

Touring Venues:

2) DIGITAL BROADCAST AND TEACHING RESOURCES

In partnership with Arts Trust Productions, we developed a number of digital resources and commissioned the filming of Vortex for the BBC at Salder’s Wells. This is not the first time we have worked together on the capture of our stage productions, as this follows the filming of Silent Lines for Marquee TV, Umbrea our community production with Three Score Dance, and the creation of the RMDC Digital Archive delivered during the pandemic.

The film of Vortex, titled Russell Maliphant’s Vortex, was screened on BBC4 on the 21st January 2024, and will be rescreened 8 times over the next three years. The production is available on BBC iPlayer for the next 12 months (Jan 2024 - Jan 2025). RMDC and Arts Trust are currently seeking film festival opportunities for the film.Moreso, we developed a range of digital teaching resources for both Silent Lines & Vortex. The films may be used as a standalone resource for anyone simply wishing to learn the repertory, but are specifically designed to be used with our digital resource packs, which contain a wealth of further information as well as a variety teaching and learning tasks.

Suitable for students working at KS3, KS4 and Post-16 as part of the Pearson Btec Tech Award in Dance, AQA GCSE Dance, RSL Certificate in Performing Arts (Dance), GCE A Level Dance and Btec Level 3 Nationals Tech Levels and Applied Generals.

3) CHANGE IN ORGANISATIONAL MODEL

We are very grateful to the Cockany Foundation for their support of £100,000 towards the development of our organisation and our new production. This funding is confirmed and expected in our accounts in 2024/25 (£70,000) & 2025/26 (£30,000). This funding will stabilise the organisation during this period of change, and underpin the development of our new production for national and international touring.

RMDC is transitioning towards an innovative business model, designed to optimize income from studio rental, mentorship/workshops, commissions and individual giving. Whilst decreasing production costs, by avoiding

Page 4

RUSSELL MALIPHANT DANCE COMPANY

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

renting additional equipment and facilities to create work.

To further enhance our operational efficiency, we're introducing a new role, a studio manager (recruited January 2024). This individual will take the lead on marketing our space for rentals - fortifying our financial standing. Their primary responsibility, while based at Excelsior Studios, will be overseeing the studio’s day-to-day activities. This person will work under the guidance of Russell Maliphant (RMDC Executive Director) and Sarah Setter (RMDC Producer) who will shoulder diverse roles ranging from assisting with productions and general management, to fundraising.

Russell Maliphant will remain artistically actively engaged, delivering workshops and courses when space permits. Hosting performances in the same venue, where the creation takes place has a unique charm, offering the flexibility to stage performances as needed. Therefore increasing income and decreasing costs. This strategic approach provides RMDC the bandwidth to explore additional funding and income channels via trusts/foundations, business sponsorship and IG. This multifaceted approach encompasses touring, educational initiatives in colleges/universities and with local community groups.

To ensure we stay on track, we will maintain our risk ‘traffic lights’ register, which the Board will monitor across various parameters, such as finance, strategy, planning partnerships, reputation and efficiency.

Future plans - New Solo and Tour

Russell Maliphant will choreograph and tour a new solo, inspired by the aesthetic appreciation for light and sculptural forms. This production promises profound insights into the use of light and bodily expression, reflecting Maliphant’s understanding of the evolving nature of physicality and the significance of movement and well-being as we age.

Maliphant's creative process involves creating a language where light, music, and movement hold equal weight, striving to intertwine these elements beyond conventional methods. Both artists value the role of lighting, often conceptualizing it for their pieces. They aim to explore the collaborative potentials of motion, light, music, and space, viewing the body as a nexus where meanings emerge.

This project celebrates the interdependence of mediums, exploring the myriad of possibilities arising from these intersections, with the body playing a crucial role in this dynamic dialogue. The project aims for international touring in 2025/26, likely omitting sets for economic reasons, with lighting playing a pivotal role in influencing choreography and vice versa. International touring for this production is being planned in Bangkok, France, Spain, Malta and Kazakhstan.

The new solo piece, starring Russell Maliphant, will be previewing in March 2025 at Excelsior Studios in Park Royal, London. Then touring around the UK and internationally in 2025 and 2026. International dates previously mentioned in this document.

UK venues include Dance East in Ipswich, Sadler’s Wells East in London, Lakeside in Nottingham, Northcott Theatre in Exeter, Richmond Theatre Royal, Brighton Theatre Royal, Lancaster Grand, Lighthouse in Poole and Lawrence Batley in Huddersfield.

To embed our work in the communities where we perform, there will be a programme of wraparound activities, both online and in-person, tailored to each group’s needs. These activities will target older movers (over 55) and young professional dancers (over 14s), ensuring a meaningful and engaging experience for participants.

FINANCIAL REVIEW

RMDC currently has no core funding, due to the loss of our Arts Council England (ACE) National Portfolio Organisation funding. As previously reported, the NPO funding ended in March 2023 (FY 2022/23), the final funding report was submitted on the 28th April 2023, closing off the 5 years of NPO funding (2018 - 2023). This was initially a four year funding programme, plus one year extension due to Covid-19 restrictions.We applied for,

Page 5

RUSSELL MALIPHANT DANCE COMPANY

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

and were successful in receiving, ACE Transition Funding of £147,924. This funding was to cover 8 months and the transition to a new working model - as detailed above, audited by Nyman Libson Paul LLP, the final report was submitted in October 2023, closing off the funding application.

John Ellerman core funding ended 31st March 2023, the final report for this 3 year funding was submitted on the 7th August 2023, and accepted by the Trust closing off the grant on the 12th September 2023.

In 2021/22, we secured £25,000 from The Foyle Foundation, supporting the growing costs of touring of Vortex across the UK in 2022/23 which was fully spent in that FY. The funding evaluation was submitted on the 9th August 2023, closing off this funding application.

We have been able to deliver the 2023/24 tour of Vortex. This was paid for by the charity investing £100,000 from its reserves, earned income of £38,729, and an Arts Council England National Lottery Project Grant of £98,791. This ACE funding grant has been fully spent and audited by Nyman Libson Paul LLP. The funding evaluation was submitted on the 10th August 2023, accepted by ACE with the final payment of £9,879 being released on the 15th September 2023 closing off this funding application.

Our new funding model includes the commercialisation of our Studio, at reduced rates to other charities with comparable charitable aims. This is expected to bring in a primary purpose charitable trading income of £25,000 (2024/25) & £56,000 (2025/26) against expenditure of £36,000 resulting in a surplus income in 25/26, contributing to our core costs.

FREE & RESTRICTED RESERVES

The designated minimum operating reserve reserve of £30,000 is held to provide financial stability to the company while making sure that funds are used to achieve the charity's aims wherever possible. This has been reduced from £60,000 as stated in 2022/23. The reason for this is the reduced organisation costs and staffing, resulting in lower monthly outgoing. The board feels this is adequate to cover 3 months of winddown expenses.

The unrestricted funds at the end of FY 2023/24 is £178,225. This allows the company to meet any other financial obligations and operate its business while managing risks and funding future work and development. Reserves of £178,225 are broken down into designated funds of £155,000 and free reserves of £23,225 as per the below.

Reserves breakdown

Designated minimum operating reserve - £30,000 Future touring programmes - £75,000 RMDC Productions - £25,000 RMDC Organisation Development - £25,000 General Free Reserves - £23,225

STRUCTURE, GOVERNANCE AND MANAGEMENT

The company is a charity limited by guarantee, incorporated on 22 December 2016, amended by special resolution adopting new Articles of Association on 9 April 2019, and registered as a charity on 29 April 2019. The Memorandum of Association, which established the objective and powers of the charitable company and is governed under its Article of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1. A full review of the Memorandum and Articles of Association was undertaken during 2019 by our lawyers, Counterculture Partnership LLP. This review ensured that the Governing document continues to be fit for purpose.

New Trustees are recruited via both a public call and Trustee recommendations, of which all candidates are assessed for relevant and required skills and voted upon by current trustees. On appointment Trustees are given the Company Memorandum and Articles, the most recent business plan, minutes, and management accounts.

The company currently has a Board of Trustees of seven members, who meet on average once every 3 months.

Page 6

RUSSELL MALIPHANT DANCE COMPANY

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Trustees are responsible for the strategic direction, the policies of the charity and for reviewing its financial affairs.

Harry MacAuslan (Chair) - resigned 20th March 2024 Steven Spier (Chair) - appointed 20th March 2024 Louise Shand-Brown Pippa Adamson Fleur Derbyshire-Fox Stuart Griffiths OBE Hamble Wallace - resigned 27th May 2024 Joseph Henry

The quorum of Trustees at a general meeting cannot be less than four Trustees present in person, or digital conferencing, or proxy.

All day-to-day running decisions are made by the Executive Director / Producer, with the support of the Department Heads. The Artistic Director / Executive Director is responsible for ensuring that the charity delivers the services specified and that key performance indicators are met. All artistic planning and policy decisions are made by the Artistic Director. All Trustees give their time voluntarily and receive no remuneration or other benefit from the charity.

Artistic / Executive Director - Dr Russell Maliphant, OBE

The pay of all staff is reviewed annually and normally increased in accordance with average earnings to reflect a cost of living adjustment. In view of the nature of the charity, the Trustees benchmark pay levels in other similar charities of a similar size operating in the arts sector.

Risk Management

A risk register has been developed, risks are prioritised, and high rated risks are discussed at each Board of Trustees meeting. Should any high or extreme risk become evident in between meetings, the Artistic / Executive Director will inform the Trustees and agree on action to be taken in mitigation, agreed by the majority of Trustees by email. The Board of Trustees is satisfied that all major risks have been identified and that systems and actions are in place to mitigate those risks.

Related Parties

There are no related parties guiding the work of the company. The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The Trustees (who are also the directors of the Company for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

Page 7

RUSSELL MALIPHANT DANCE COMPANY

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the members of the board of Trustees on _______ and signed on their behalf by: 19 December 2024

Steven Spier Chair

Page 8

RUSSELL MALIPHANT DANCE COMPANY

(A company limited by guarantee)

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2024

Independent Examiner's Report to the Trustees of Russell Maliphant Dance Company ('the Company')

I report to the charity Trustees on my examination of the accounts of the Company for the year ended 31 March 2024.

This report is made solely to the Company'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 I might state to the Company's Trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Company and the Company's Trustees as a body, for my work or for this report.

Responsibilities and Basis of Report

As the Trustees of the Company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company 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 Company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent Examiner's Statement

Since the Company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.

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:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].

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 accounts to be reached.

Page 9

RUSSELL MALIPHANT DANCE COMPANY

(A company limited by guarantee)

INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Dated: 20 December 2024

Signed: Andrew Thomas ACA

Nyman Libson Paul LLP Chartered Accountants 124 Finchley Road London NW3 5JS

Page 10

RUSSELL MALIPHANT DANCE COMPANY (A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024

Note
Income from:
Donations and legacies
2
Charitable activities
3
Investments
Total income
Expenditure on:
Charitable activities
Total expenditure
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2024
£
256,715
68,416
1,578
326,709
677,220
677,220
(350,511)
528,736
(350,511)
178,225		 Total
funds
2024
£
256,715
68,416
1,578
326,709
677,220
677,220
(350,511)
528,736
(350,511)
178,225		 Total
funds
2023
£
302,206
285,285
1,052
588,543
581,989
581,989
6,554
522,182
6,554
528,736

The notes on pages 13 to 23 form part of these financial statements.

Page 11

(A company limited by guarantee) REGISTERED NUMBER: 10537823

RUSSELL MALIPHANT DANCE COMPANY

BALANCE SHEET AS AT 31 MARCH 2024

Note
Fixed assets
Tangible assets
7
Current assets
Debtors
8
Cash at bank and in hand
Creditors: amounts falling due within one
year
9
Net current assets
Total net assets
Charity funds
Restricted funds
10
Unrestricted funds
10
Total funds		 30,961
152,006
182,967
(5,000)		 2024
£
258
258
177,967
178,225
-
178,225
178,225		 203,201
337,816
541,017
(12,795)		 2023
£
514
514
528,222
528,736
-
528,736
528,736

The Company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the Trustees on _______ and signed on their behalf by: 19 December 2024

Steven Spier

The notes on pages 13 to 23 form part of these financial statements.

Page 12

RUSSELL MALIPHANT DANCE COMPANY

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1. Accounting policies

1.1 Basis of preparation of financial statements

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 Companies Act 2006.

Russell Maliphant Dance Company 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.

1.2 Company status

The company is a company limited by guarantee. The members of the company are the Trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.

1.3 Going concern

The Trustees have reviewed the circumstances of the company and consider that adequate resources continue to be available to fund the activites of the company for the forseeable future. For this reason the Trustees continue to adopt the going concern basis in preparing the financial statements.

1.4 Income

All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Grants are recognised in the SOFA in accordance with the grant agreement.

Donations are recognised on receipt.

Other income is recognised in the period in which it is receivable.

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.

Support costs are those costs incurred directly in support of expenditure on the objects of the company.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs.

Page 13

RUSSELL MALIPHANT DANCE COMPANY (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1. Accounting policies (continued)

1.6 Tangible fixed assets and depreciation

Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Computer equipment

25% straight line

1.7 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the Bank.

1.8 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.

1.9 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.10 Liabilities

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 company 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.

1.11 Financial instruments

The Company 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.

1.12 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Page 14

RUSSELL MALIPHANT DANCE COMPANY

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

2. Income from donations

Grants
Total 2023
Analysis of grants
Arts Council England - NPO funding
Arts Council England - Other
Ipswich Borough Council
John Ellerman Foundation
The London Community Fund
Ealing Borough Council		 Restricted
funds
2024
£
-
30,000		 Unrestricted
funds
2024
£
256,715
272,206		 Total
funds
2024
£
256,715
302,206
2024
£
147,924
98,791
-
-
10,000
-
256,715		 Total
funds
2023
£
302,206
2023
£
253,582
10,290
8,334
30,000
-
-
302,206

Page 15

RUSSELL MALIPHANT DANCE COMPANY

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

3. Income from charitable activities

Touring income
Education Income
Commission Fees
Donations
Theatre tax relief
Total 2023		 Unrestricted
funds
2024
£
38,730
3,900
10,000
1,000
14,786
68,416
285,285		 Total
funds
2024
£
38,730
3,900
10,000
1,000
14,786
68,416
285,285		 Total
funds
2023
£
33,618
5,393
40,000
16,850
189,424
285,285

4. Analysis of expenditure by activities

Direct costs
Total 2023		 Activities
undertaken
directly
2024
£
477,576
372,154		 Support
costs
2024
£
199,644
209,835		 Total
funds
2024
£
677,220
581,989		 Total
funds
2023
£
581,989

Page 16

RUSSELL MALIPHANT DANCE COMPANY

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

4. Analysis of expenditure by activities (continued)

Analysis of direct costs

Production Costs
Production Touring Costs
Education Programmes		 Total
funds
2024
£
185,217
276,571
15,788
477,576		 Total
funds
2023
£
289,703
67,267
15,184
372,154

Analysis of support costs

Staff costs
Depreciation
General Administrative Costs
Legal and professional costs
Consultancy
Motor and Travel costs
Premises costs
Research
Freelance costs		 Total
funds
2024
£
81,897
256
43,282
10,004
6,475
105
14,804
1,979
40,842
199,644		 Total
funds
2023
£
126,924
256
15,393
26,829
13,886
1,034
24,127
1,386
-
209,835

Page 17

RUSSELL MALIPHANT DANCE COMPANY

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

5. Staff costs

Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 2024
£
76,856
3,998
1,043
81,897		 2023
£
117,308
6,356
3,260
126,924

Redundancy payments of £42,404 were paid in the year by bank transfer. £Nil was outstanding at the Balance Sheet date.

The average number of persons employed by the Company during the year was as follows:

2024 2023
No. No.
Employees 1 4

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

2024 2023
No. No.
In the band £70,001 - £80,000 1 -

Employee benefits for key management personnel totalled £98,846 (2022: £43,709).

6. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2023 - £NIL).

During the year ended 31 March 2024, no Trustee expenses have been incurred (2023 - £NIL).

Page 18

RUSSELL MALIPHANT DANCE COMPANY (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

7. Tangible fixed assets

Cost or valuation
At 1 April 2023
At 31 March 2024
Depreciation
At 1 April 2023
Charge for the year
At 31 March 2024
Net book value
At 31 March 2024
At 31 March 2023		 Computer
equipment
£
1,026
1,026
512
256
768
258
514

8. Debtors: Amounts due within one year

Trade debtors
Tax recoverable
Other debtors		 2024
£
12,000
14,786
4,175
30,961		 2023
£
8,130
189,424
5,647
203,201

Page 19

RUSSELL MALIPHANT DANCE COMPANY

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

9. Creditors: Amounts falling due within one year

Other creditors
Accruals and deferred income		 2024
£
-
5,000
5,000		 2023
£
2,795
10,000
12,795

Page 20

RUSSELL MALIPHANT DANCE COMPANY (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

10. Statement of funds

Statement of funds - current year

Unrestricted funds
Designated minimum operating
reserve
RMDC Vortex Tour 2023/34
Three Score Dance Production
EDI Designated Funds
Future touring programmes
RMDC productions
RMDC Organisation
Development
General funds
General Funds
Total Unrestricted funds		 Balance at 1
April 2023
£
60,000
200,000
25,000
200,963
-
-
-
485,963
42,773
528,736		 Income
£
-
-
-
-
-
-
-
-
326,709
326,709		 Expenditure
£
-
(200,000)
(25,000)
(200,963)
-
-
-
(425,963)
(251,257)
(677,220)		 Transfers
in/(out)
£
(30,000)
-
-
-
75,000
25,000
25,000
95,000
(95,000)
-		 Balance at
31 March
2024
£
30,000
-
-
-
75,000
25,000
25,000
155,000
23,225
178,225

Page 21

RUSSELL MALIPHANT DANCE COMPANY

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

10. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds
Designated funds
Designated Funds - all funds
Designated minimum operating
reserve
RMDC Vortex Tour 2023/34
Three Score Dance Production
General funds
General Funds
Total Unrestricted funds
Restricted funds
John Ellerman Foundation
Total of funds		 Balance at
1 April 2022
£
360,042
-
-
-
360,042
162,140
522,182
-
522,182		 Income
£
921
-
-
-
921
557,622
558,543
30,000
588,543		 Expenditure
£
-
-
-
-
-
(551,989)
(551,989)
(30,000)
(581,989)		 Transfers
in/out
£
(160,000)
60,000
200,000
25,000
125,000
(125,000)
-
-
-		 Balance at
31 March
2023
£
200,963
60,000
200,000
25,000
485,963
42,773
528,736
-
528,736

Page 22

RUSSELL MALIPHANT DANCE COMPANY (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

11. Analysis of net assets between funds

Analysis of net assets between funds - current period

Tangible fixed assets
Current assets
Creditors due within one year
Total		 Unrestricted
funds
2024
£
258
182,967
(5,000)
178,225		 Total
funds
2024
£
258
182,967
(5,000)
178,225

Analysis of net assets between funds - prior period

Tangible fixed assets
Current assets
Creditors due within one year
Total		 Unrestricted
funds
2023
£
514
541,017
(12,795)
528,736		 Total
funds
2023
£
514
541,017
(12,795)
528,736

12. Pension commitments

The entity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the group to the fund and amounted to £1,043 (2023: £3,260). £Nil (2023: £263) was payable to the fund at the balance sheet date and included in creditors.

13. Related party transactions

Consultancy fees of £13,182 (2023: £Nil) were paid to D Maliphant, a relative of the Artistic & Executive Director, R Maliphant. £Nil (2023: £Nil) was outstanding at the year end.

Page 23