Company Registration Number 10016228 Registered Charity Number 1190629
COMPANY OF OTHERS (A COMPANY LIMITED BY GUARANTEE)
REPORT AND ACCOUNTS For the year ending 5 April 2023
COMPANY OF OTHERS (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT For the year ended 5 April 2023
The Trustees, who are also Directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 5 April 2023.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity Name Company of Others Charity Registration Number 1190629 Company Registration Number 10016228 Registered Office The Bricks, c/o St Anthony Of Egypt Church Hall, Belmont Street, Newcastle Upon Tyne, Tyne And Wear NE6 3SN
Trustees
For the purposes of the Companies Act 2006, the Board of Trustees is the Board of Directors of the charitable company and is referred to as the Trustees throughout this report.
The Trustees of Company of Others during the period and to the date of signing this report are as follows:
Hilary Knight (Chair) Anthony McCaffery - appointed 12 May 2022; resigned 12 January 2023 Sathya Bala - appointed 21 April 2022 Nadia Iftkhar Sharminy Ragunathan Elif True Louise Wiggins Independent Examiner Mr P O’Hara FCA, Flat 3, 1 Tankerville Terrace, Jesmond, Newcastle upon Tyne NE2 3AH
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing Documents
Company of Others is a charitable company limited by guarantee founded by Nadia Iftkhar, incorporated on 19 February 2016 and registered as a charity on 29 July 2020.
The charity is controlled by its governing document, its Memorandum & Articles of Association, as amended by Special Resolution on 15 May 2015, and constitutes a limited company, limited by guarantee, as defined by the Companies Act.
The Directors of the company are also Trustees of the charity.
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COMPANY OF OTHERS (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT
For the year ended 5 April 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT (Continued)
Governing Documents (Cont.)
Eligibility for membership of the charity, and membership of the Board of Trustees, is governed by the Articles of Association. There are no restrictions in the governing document on the operation of the charity other than those imposed by general charity law.
Charitable Purpose
Company of Others’ charitable objects are, for the public benefit, the advancement of contemporary dance, in particular but not exclusively through the commissioning and producing public performances, dance sessions, workshops and educational events and material using film, music, visual arts and other theatre related art forms.
The Company’s principal activity is developing, commissioning and producing public performances, dance sessions, workshops and educational events in collaboration with people and communities who are othered by society. Company of Others believes that its work can be a force for social change, and that by working creatively and collaboratively, it can help to tackle injustice and inequality and be a safe and courageous artistic space for the communities it works with.
Structure and Governance
The charity currently has a Board comprised of five non-executive Trustees and the Artistic Director/CEO.
The Board of Trustees were sorry to say goodbye to Tony McCaffery this year. We extend huge thanks to him for the significant contribution he made to the company. We were delighted to welcome Sathya Bala to the Board of Trustees.
The Company’s Board of Trustees meets every three months. At each meeting it considers a detailed report from the CEO/Artistic Director about past, current and future activity. The Board also receives and considers financial reports presented by the CEO/Artistic Director and also considers proposals for future medium and long-term strategy. At appropriate times, individual or pairs of Trustees may also convene to focus on particular areas of activity such as Trustee recruitment and Board development.
Trustees’ responsibilities are detailed in Company of Others’ Trustees Terms of Reference, in line with the Charities Commission requirements and in full compliance with the Companies Act. The Board reviews its performance against these terms annually and develop action plans to ensure they continue to meet their responsibilities on an ongoing basis.
Recruitment and Appointment of Board of Trustees
Trustees are appointed following a review by the Board of the relevant skills and experience the Company requires. Emphasis is currently placed on securing a committed, engaged and diverse board who can reflect the lived experience and interests of Company of Others’ communities and partners. In particular skills are sought across finance, communications, the arts, community engagement and representation of the North East.
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COMPANY OF OTHERS (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT
For the year ended 5 April 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT (Continued)
Trustee Induction and Training
New Trustees receive an induction from the Chair and nominated Trustees which includes detailed background information about the Company and Charity Commission documents outlining their responsibilities under charity law. In addition, they spend time with the CEO/Artistic Director to ensure that they are familiar with the work of the Company, its priorities and how it is run and understand the communities they work with, as well as viewing work in rehearsal and performance when possible.
Ongoing development opportunities are provided to the board to ensure Trustees are upskilled and able to serve the organization to the best of their abilities.
Reserves Policy
The Trustees have reviewed the charity's needs for reserves in line with the guidance issued by the Charity Commission.
The Trustees aim to firstly hold a level of unrestricted Reserves which enables the charity to have sufficient financial resources to meet various liabilities which would crystallise if Company of Others’ funding were to be withdrawn and/or it were unable to continue operating. At present, the Trustees estimate that the Unrestricted Reserves required for such purposes amount to approximately £41,000, the equivalent of three months’ running costs.
The charity’s Unrestricted Reserves at 5 April 2023 are £26,675 (2022: £34,013). Free Reserves, defined as Unrestricted Reserves minus the £1,729 value of Tangible Fixed Assets, are £24,946 (2022: £31,605).
The Trustees intend, through their budgeting and good financial management, to achieve their target level of unrestricted reserves by 2024.
This policy will be reviewed by the Trustees on an annual basis as part of the charity’s budgeting processes.
Grant Making Policy
The charity does not currently engage in grant-making activity.
The Contribution of Volunteers
The charity does not currently make use of volunteers to support its activities.
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COMPANY OF OTHERS (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT
For the year ended 5 April 2023
OBJECTIVES AND ACTIVITIES
Public Benefit
The Trustees understand and have discussed the implications of the provisions of the Charities Act 2006, which state that all charities must demonstrate that they are established for public benefit and have had due regard to the public benefit guidance issued by the Charity Commission. The Trustees believe that the charity meets both of the key principles.
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Principle 1 – There must be an identifiable benefit, or benefits
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Principle 2 - Benefit must be to the public, or a section of the public
By encouraging and promoting contemporary dance through the creation and production of new artistic works the charity brings dance to audiences in the North East.
This provides benefits such as artistic education, artistic inspiration and artistic experiences to the general public. It also benefits and contributes to the dance sector in the North East and nationally.
The Company has a positive impact on the North East’s artistic reputation for being a cultural region with innovative art being made and celebrated. Company of Others’ productions are presented within the communities it works with, in community-led spaces.
This benefits those communities by bringing high-quality dance experiences to them, removing the barriers of money, transport or traditional theatre venues which can be intimidating to people who don’t usually attend the theatre. By presenting work in local, socio-economically deprived areas the benefits are also improved community cohesion, stronger identity with local community, pride in the local community, increased positive social interaction and a more vibrant local community.
Risk Management
The Trustees of the charity regularly review the major governance, operational and financial risks which the charity faces as part of its annual business planning process and confirm that systems have been established to mitigate these risks.
Company of Others has a risk management strategy in place which comprises:
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an annual review of the strategic risks the charity may face via the business plan
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the establishment of systems and procedures to mitigate those risks identified
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regular review of the statuses of key risks and any emerging risks as part of the quarterly Trustee meeting, with updates to risks and their mitigation made as required
The Trustees are satisfied that appropriate financial systems and controls and employment policies and practices are in place.
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COMPANY OF OTHERS (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT For the year ended 5 April 2023
OBJECTIVES AND ACTIVITIES (Continued)
Risk Management (Cont.)
The Trustees consider the key risks facing the charity at this time and the mitigating actions taken to be as follows:
The Trustees consider the current key risks facing Company of Others and the associated mitigation action being taken to be:
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Uncertain economic climate: After salaries, creative production is the Company’s greatest cost. All creative and production work is funded, and work does not commence until funds are confirmed and secured. In addition, the Company is operating a strict policy of moving all unspent unrestricted funds into reserves at the end of each quarter, with the target of maintaining a level of reserves equivalent to three months’ operating costs.
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Loss of key personnel: The Company staff is extremely small and therefore succession planning is hard and the loss of key staff has a significant impact. To mitigate this risk staff have a one-month or three-month notice period, as appropriate, and are discouraged from building up large reserves of untaken leave. Company of Others always pays more than the minimum wage and pays the real living wage as a minimum for all salaried staff. Every effort is made to create and maintain a working culture which is equitable, kind and creative and in which staff feel safe, supported and valued.
The Trustees manage wider financial and operating risks by ensuring that:
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Prudent budgets have been set for the next financial year
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The charity maintains a low operating cost base
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Regular management accounts are provided
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Contingency plans are in place to mitigate all identified risks
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All creative and production work is fully funded with funds in place before work commences
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The charity maintains its Reserves Policy and continues to grow its unrestricted reserves in line with this policy
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The charity works to maintain a culture which is equitable, kind and creative and in which staff feel safe, supported and valued
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The charity operates an Appreciation and Care budget for all staff to be used at the discretion of the CEO to enhance staff wellbeing
ACHIEVEMENTS AND PERFORMANCE
Aims, Values & Objectives
Company of Others is a dance theatre company based in the North East of England, led by Artistic Director and Choreographer Nadia Iftkhar. We collaborate with people who have experience of being 'othered' by the society we live in, to co-create dance theatre experiences which highlight and share stories of the human experience through their lens.
Our values are Artistry, Equity and Integrity.
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COMPANY OF OTHERS (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT
For the year ended 5 April 2023
ACHIEVEMENTS AND PERFORMANCE (CONTINUED)
Aims, Values & Objectives (Cont.)
The Company’s objectives for 2022-23 were to:
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Submit a successful bid to become an Arts Council England National Portfolio Organisation (NPO) 2. Continue to strengthen community ties and relationships by continuing to embed our work and expand our programme at The Bricks
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Increase organisational capacity through restructuring and recruitment for new roles
Summary of the main achievements of the charity during the year
2022-23 has been a year of significant change for Company of Others, primarily driven by our successful bid to become an Arts Council England National Portfolio Organisation (NPO). This will provide us with secure funds of £220,000 annually for three years. Becoming an NPO will significantly increase our capacity, our programme of activities and therefore our reach.
The Bricks, Company of Other’s home, which was established last year, is increasingly in use and serving our local community. In 2022 we introduced new weekly sessions for 4–7-year-olds at the request of the community. These introduce local children to dance technique and spatial awareness and sit alongside our weekly Walker Youth Dance Project workshops, Company of Others Ensemble rehearsals and artistic residencies. In November 2022 we held our first Autumn Gathering at The Bricks, where 50 members of our community joined us for dancing, food and a disco, strengthening our connections to our neighbours.
In July 2022 we held our first Walker Youth Dance Festival in Walker Park. Sixty young dancers performed for an audience of 200 people across the day. We also delivered 5 hours of free dance activity to 50 children in parks across Walker as part of Walker Outdoor Week. The festival was a great success and received positive feedback from the dancers, their families and the community who attended.
We have been working with the Baring Foundation to deliver a 2-year programme of fortnightly movement and well-being sessions for women of the Global Majority, and/or Asylum and Refugee experienced and have mental health challenges. The project, called Moving Together, includes Mental Health First Aid Training for 10 Global Majority artists working in Mental Health in the region.
Company of Others has been growing throughout 2022-23 as we increase our capacity to deliver increased programming. This year we have welcomed a new Operations and Resource Lead and Company Assistant, and we will add additional roles in 2023-24.
The pandemic has a significant impact on our ability to work with our communities in person, particularly Company of Others Ensemble who were particularly vulnerable. So we are delighted that the group have been able to begin co-creating their next production with the Artistic Director, supported by the Artist. The piece will be about love, and we are looking for performance opportunities later in 2023.
Financial Review
The out-turn for the year is an unrestricted deficit of £(7,338) (2022: Surplus £18,962). The deficit will leave a balance on Unrestricted Funds at 5 April 2023 of £26,675 (2022: £34,013).
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COMPANY OF OTHERS (A COMPANY LIMITED BY GUARANTEE)
TRUSTEES’ REPORT
For the year ended 5 April 2023
PLANS FOR FUTURE PERIODS
We have spent the final quarter of this past year preparing ourselves for our first “NPO year” in 2023-24. Our work is divided into 3 key areas, to RESIST the limitations placed upon people who are ‘othered’, to CO-CREATE with our community, and to CONNECT people to new possibilities and opportunities.
Next year our programme will include:
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RESIST: encompassing the Walker Youth Dance Project, the second Walker Youth Dance Festival which builds upon the success and lessons learned from the event in this financial year, Moving Together (a bi-weekly movement workshop tailored for women of the Global Majority, and/or women who are Refugee and Asylum experienced), PowerFULL (a tenweek course designed to empower women aged 16-25), The Resistance (an Arts and Social Justice project for young individuals in the East End of Newcastle upon Tyne), a community programme, and Company of Others Ensemble.
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CO-CREATE: our 2023 production of "Grief Floats" at King Edwards Bay in Tynemouth, a show that was put on pause by the Covid-19 pandemic and will premiere in July 2023.
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CONNECT: a programme designed to connect people to dance and Company of Others, consisting of Open House events at The Bricks, and Rooted, which will provide crucial support to diverse artists through paid residencies and artist dinners.
In tandem with these programmes, we are dedicated to advancing our organisation through four key pillars:
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Ambition and Quality: This involves identifying and integrating creative mentorship for the Artistic Director, with a strong emphasis on Ambition and Quality. We'll also support CoO in elevating the ambition of their work, encourage our Board Members to attend a minimum of two of our events, foster a regional network of artists, and establish a Visual Evaluation Cycle and Framework.
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Inclusivity and Relevance: This encompasses staff and Trustee development, hosting two open house events for our neighbours and artistic community, and collaborating with the NEAT Multi Academy Trust and other local schools to forge new pathways for work experience in the arts. We'll also create terms of reference and an accountability framework, and evaluate the experiences of our staff, audiences, freelancers, members, and supporters within the organisation.
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Dynamism: We're committed to expanding our Annual General Meeting to include representatives from our various groups and the local community. Additionally, we'll refine our fundraising structure and strategy, update data collection, collation, monitoring, and decision-making processes, establish a well-being policy, and set up a Board observation network.
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Environmental Responsibility: Working with Julie’s Bicycle, we'll set a benchmark for the organisation and establish a baseline for improvement. We're also developing an online resource, in collaboration with other organisations, with assets available for borrowing. Furthermore, we're devising a project planning framework that will seamlessly integrate environmental responsibility into our artistic programs.
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COMPANY OF OTHERS (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT
For the year ended 5 April 2023
PLANS FOR FUTURE PERIODS (CONTINUED)
Each of these four pillars will be led by one staff member and one Trustee, and their progress will be reported to the board of Trustees on a quarterly basis.
We will also continue to grow our team, and with recruitment planned for two further roles, will increase our capacity to deliver our plans and programmes for the year to come.
RESPONSIBILITIES OF THE TRUSTEES
The Trustees (who are also the Directors of Company of Others for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period.
In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgments and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Signed on behalf of the Trustees on 30 October 2023.
Hilary Knight Chair/Trustee Company Registration Number 10016228
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INDEPENDENT EXAMINER’S REPORT TO THE MEMBERS ON THE UNAUDITED ACCOUNTS OF COMPANY OF OTHERS FOR THE YEAR ENDED 5 APRIL 2023
I hereby report to the Trustees of Company of Others (Charity Registration Number 1190629) on my examination of the accounts for the year ended 5 April 2023 set out on pages 11 to 23.
Responsibilities and basis of report
As the charity’s Trustees (and also 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 your charity’s accounts as 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
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:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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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
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the accounts have not been prepared in accordance with the methods or 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 (FRS102)).
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.
Pete O’Hara, FCA, Chartered Accountant Fellow of the Institute of Chartered Accountants in England & Wales Flat 3, 1 Tankerville Terrace, Jesmond, Newcastle upon Tyne NE2 3AH
30 October 2023
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COMPANY OF OTHERS (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2023
| Note Income Income from Investments 3 Income from Donations & Legacies 4 Income from Charitable Activities 5 Total Income Expenditure Expenditure on Raising Funds 6 Expenditure on Charitable Activities 7 Total Expenditure Net Income/(Expenditure) Funds brought forward Funds carried forward 14 |
Unrestricted Funds Restricted Funds Total 2023 Total 2022 £ £ £ £ 272 - 272 3 31,862 72,665 104,527 173,729 9,080 - 9,080 17,449 |
|---|---|
| 41,214 72,665 113,879 191,181 8,550 - 8,550 - 40,002 53,087 93,089 115,998 |
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| 48,552 53,087 101,639 115,998 |
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| (7,338) 19,578 12,240 75,183 34,013 60,721 94,734 19,551 |
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| £26,675 £80,299 £106,974 **£94,734 ** |
The notes on pages 13 to 23 form part of the financial statements.
All of the activities of the company are classed as continuing.
The Statement of Financial Activities includes all gains and losses in the year and therefore a statement of total recognised gains and losses has not been prepared.
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COMPANY OF OTHERS (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL POSITION/BALANCE SHEET AS AT 5 APRIL 2023
| Notes Fixed Assets Tangible Fixed Assets 9 Current Assets Debtors 10 Cash At Bank & In Hand Creditors – Amounts Falling Due Within 1 Year 11 Net Current Assets/(Liabilities) Total Net Assets 12 Represented by: Unrestricted Reserves 13, 14 Restricted Reserves 13, 14 |
2023 2022 £ £ 1,729 2,408 33,645 34,164 77,920 69,848 |
|---|---|
| 111,565 104,012 (6,320) (11,686) |
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| 105,245 92,326 |
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| £106,974 £94,734 |
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| 26,675 34,013 80,299 60,721 |
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| £106,974 £94,734 |
The notes on pages 13 to 23 form part of the financial statements.
The Trustees are satisfied that for the year ended 5 April 2023 the charity was entitled to exemption under section 477(2) of the Companies Act 2006.
The Trustees also confirm that the Members have not required the charity to obtain an audit in accordance with section 476 of the Companies Act 2006
The Trustees acknowledge their responsibilities for:
(i) ensuring that the charity keeps adequate accounting records which comply with section 386 of the Act, and
(ii) preparing financial statements which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of its profit or loss for the financial year in accordance with the requirements of section 393, and which otherwise comply with the requirements of the Act relating to financial statements, so far as applicable to the charity.
These financial statements were approved and signed by a Member of the Board of Trustees on 30 October 2023.
Hilary Knight Chair/Trustee Company Registration Number 10016228
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COMPANY OF OTHERS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2023
1. Accounting Policies
Basis of Accounting
These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 – 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' ('FRS 102'), and with the Companies Act 2006 and the Statement of Recommended Practice (Charities SORP FRS 102) "Accounting and Reporting by Charities" and the Charities Act 2011.
The financial statements have been prepared on the historical cost basis, modified to include certain financial instruments at fair value.
Advantage has been taken of the provisions in the SORP for Charities applying FRS 102 Update Bulletin 1 not to prepare a statement of cashflows.
The financial statements are prepared in sterling, which is the functional currency of the charity.
Going Concern
There are no material uncertainties about the charity's ability to continue and hence the accounts are prepared on the going concern basis.
The Trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the Charity to continue as a going concern. The trustees make this assessment in respect of a period of one year from the date of approval of the financial statements.
Income
All income is included in the statement of financial activities when the charity is entitled to the income, any performance related conditions attached have been met or are fully within the control of the charity, the income is considered probable and the amount can be quantified with reasonable accuracy.
The following specific policies are applied to particular categories of income:
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Donations and legacy income is received by way of donations, legacies, grants and gifts and is included in full in the Statement of Financial Activities when receivable.
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Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.
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Investment income is included when receivable.
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Income from charitable trading activity is accounted for when earned.
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Other income is accounted for when receivable.
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NOTES TO THE ACCOUNTS
COMPANY OF OTHERS (A COMPANY LIMITED BY GUARANTEE)
FOR THE YEAR ENDED 5 APRIL 2023
1. Accounting Policies (Continued)
Operating Leases
The charity classifies the lease of certain types of equipment as operating leases as the title to the equipment remains with the lessor. Rental charges are charged against income on a straight-line basis over the period of the lease.
Tangible Fixed Assets and Depreciation
Individual Fixed Assets costing £100 or more are capitalised at cost.
Depreciation is provided on any fixed assets at rates calculated to write off the assets over their remaining useful lives as follows:
IT & Office Equipment - 33% per annum straight line
A full year’s depreciation charge is applied in the year of acquisition and no charge is made in the year of disposal.
Impairment of Fixed Assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial Instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost where there is a material adjustment.
Fund Accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the purposes of the charity.
Designated funds are unrestricted funds earmarked by the trustees for specific purposes.
Restricted funds are subjected to restrictions on their expenditure imposed by the donor.
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COMPANY OF OTHERS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2023
1. Accounting Policies (Continued)
Judgements and Key Sources of Estimation Uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
There are no significant judgements or estimation uncertainty included within the financial statements.
Taxation Status
Company of Others is a Charity registered under the 1960 Charities Act and is accorded exemption from liability to taxation on its income under S505 Income and Corporation Taxes Act 1988.
Pensions
Company of Others contributes to a defined contribution pension scheme. Further details can be found in Note 9.
For the defined contribution scheme, the amount charged to the Statement of Financial Activities in respect of pension costs is the contributions payable in the year. Differences between contributions payable in the year and contributions actually paid are shown as either accruals or prepayments in the Balance Sheet.
2. Legal Status
The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1. The company law members of the charity are the members of its Board of Trustees.
3. Income from Investments
| Interest on cash balances | Unrestricted Funds £ Restricted Funds £ 2023 £ 2022 £ 272 - 272 3 |
|---|---|
| £272 £- £272 £3 |
The 2022 total of £3 related wholly to Unrestricted Funds.
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COMPANY OF OTHERS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 5 APRIL 2023
4. Income from Grants, Donations & Legacies
| Donations Donations - General Grant Income Arnold Clark Community Fund - Walker Youth Dance (WYD) Arts Council England - Cultural Recovery Fund Arts Council England – Grief Floats Baring Foundation Blue Stone Consortium – Dance In An Envelope Community Foundation/Ringtons Fund - WYD Community Foundation/Wellesley Trust – Art & Social Justice Dance City – Organisational Development Mighty Creatives – Kickstarter Scheme Newcastle CC Ward Access Fund Newcastle City Council – WYDF Newcastle Cultural Investment Fund Oak Foundation Pargiter Trust RW Mann Trust - Ensemble Street Games UK Tynexe Limited Virgin Money Foundation |
Unrestricted Funds £ Restricted Funds £ 2023 £ 2022 £ 1,262 - 1,262 929 - - - 1,000 - - - 39,100 - - - 60,458 - 50,500 50,500 - - - - 856 - - - 4,993 - - - 10,000 - - - 5,000 - - - 7,624 600 - 600 - - - - 12,239 30,000 - 30,000 26,530 - - - 4,500 - 9,789 9,789 - - - - 500 - 2,645 2,645 - - 1,731 1,731 - - 8,000 8,000 - |
|---|---|
| 30,600 72,665 103,265 172,800 |
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| £31,862 £72,665 £104,527 £173,729 |
The 2022 total of £173,729 comprises £71,059 in respect of Unrestricted Funds and £102,670 in respect of Restricted Funds.
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COMPANY OF OTHERS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 5 APRIL 2023
5. Income from Charitable Activities
| Commissions & Fee Income Premises Hires |
Unrestricted Funds £ Restricted Funds £ 2023 £ 2022 £ 7,380 - 7,380 16,689 1,700 - 1,700 760 |
|---|---|
| £9,080 £- £9,080 £17,449 |
The 2022 total of £17,449 related wholly to Unrestricted Funds.
6. Expenditure on Raising Funds
| 6. Expenditure on Raising Funds |
||
|---|---|---|
| Fundraising Consultancy 7. Expenditure on Charitable Activities Production/Project Costs Salaries & On Costs Production/Project Costs Project Travel & Subsistence Support Costs Rent Depreciation Insurance Other Administration & Running Costs Governance Costs Independent Examiner’s Fees Other Accountancy Fees Legal & Professional Fees |
Unrestrict ed Funds £ Restricted Funds £ 2023 £ 2022 £ 8,550 - 8,550 - £8,550 £- £8,550 £- Unrestricted Funds £ Restricted Funds £ Total 2023 £ Total 2022 £ 20,218 42,278 62,496 63,299 - 7,916 7,916 32,628 - 2,893 2,893 907 |
Unrestrict ed Funds £ Restricted Funds £ 2023 £ 2022 £ 8,550 - 8,550 - |
| 20,218 53,087 73,305 96,834 4,875 - 4,875 3,000 1,930 - 1,930 1,513 766 - 766 635 10,400 - 10,400 10,596 |
||
| 17,971 - 17,971 15,744 1,800 - 1,800 1,800 - - - 1,620 13 - 13 - |
||
| 1,813 - 1,813 3,420 |
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| £40,002 £53,087 £93,089 £115,998 |
Of the 2022 total of £115,998, £69,549 related to Unrestricted Funds and £46,449 to Restricted Funds.
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COMPANY OF OTHERS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2023
8. Net Income/(Expenditure)
| Net Income/(Expenditure) | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Net income/(expenditure) is stated after charging/(crediting): | ||
| Independent Examiner’s Fees – current year | 1,800 | 1,800 |
| Independent Examiner’s Fees – previous year’s under-provision | - | 1,260 |
| Independent Examiner – Other Services | - | 360 |
| Depreciation of owned Fixed Assets | 1,930 | 1,513 |
9. Staff Costs & Trustees’ Remuneration
| Gross Salary Costs Employer’s National Insurance Employer’s Pension Contributions |
2023 £ 2022 £ 60,498 61,415 663 679 1,335 1,205 |
|---|---|
| £62,496 £63,299 |
No employee received remuneration of more than £60,000 during the year (2022 - Nil).
The key management personnel comprise the Trustees, Artistic Director and CEO, and the General Manager. The total employee benefits of the key management personnel of the Charity were £48,025 (2022: £47,522)
The average number of staff employed during the year, calculated as full-time equivalents, was as follows:
| was as follows: | ||
|---|---|---|
| 2023 | 2022 | |
| No. | No. | |
| Artistic Production and Support | 3 | 3 |
Pension benefits are provided through a Group Personal Pension Scheme, which is a defined contribution scheme. The assets of the scheme are held separately from those of the company in a separately administered fund. In the year to 5 April 2023 Company of Others made an employer's contribution of 3% of pensionable pay, provided that the employee makes a minimum contribution of 5%.
These amounts are paid over to the scheme on a monthly basis. No contributions were outstanding at 5 April 2023 (2022: £Nil).
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COMPANY OF OTHERS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5 APRIL 2023
9. Staff Costs & Trustees’ Remuneration (Cont.)
During the year, N Iftkhar received remuneration in her role as Chief Executive Officer and Artistic Director of the charity of £40,970 (2022: £37,890). This payment was made in accordance with the provisions in the governing document of the charity. N Iftkhar receives no remuneration in her role as a Trustee.
No remuneration has been paid to any other Trustees/Directors in the year (2022: £Nil).
Travel expenses totalling £732 (2022: £254) have been reimbursed to N Iftkhar during the year for her role as Chief Executive Officer and Artistic Director. No expenses have been reimbursed for her role as a Trustee.
No other reimbursement of Travel and Subsistence expenses in respect of their attendance at meetings of the charity was made in the year (2022: £Nil).
10. Tangible Fixed Assets
| Cost At 6 April 2022 Additions in year At 5 April 2023 Accumulated Depreciation At 6 April 2022 Charge for year At 5 April 2023 Net Book Value At 5 April 2023 At 6 April 2022 |
IT & Office Equipment £ Total £ 6,487 6,487 1,251 1,251 |
|---|---|
| 7,738 7,738 4,079 4,079 1,930 1,930 |
|
| 6,009 6,009 |
|
| £1,729 £1,729 |
|
| £2,408 £2,408 |
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COMPANY OF OTHERS (A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 5 APRIL 2023
11. Debtors
| 11. Debtors |
||
|---|---|---|
| Trade Debtors Accrued Income Other Debtors 12. Creditors – Amounts Falling Due Within 1 Year Trade Creditors Income Received In Advance Other Creditors Accruals |
2023 £ 2022 £ 1,500 3,285 32,145 30,879 - - |
|
| £33,645 £34,164 2023 £ 2022 £ 160 - 4,000 - - 5,909 2,160 5,777 |
||
| £6,320 £11,686 |
13. Analysis of Net Assets between Funds
| Fixed Assets Debtors Cash at Bank and In Hand Creditors – Amounts Due Within 1 Year |
Unrestricted Funds Restricted Funds Total 2023 Total 2022 £ £ £ £ 1,729 - 1,729 2,408 1,820 31,825 33,645 34,164 29,446 48,474 77,920 69,848 (6,320) - (6,320) (11,686) |
|---|---|
| £26,675 £80,299 £106,974 £94,734 |
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COMPANY OF OTHERS (A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 5 APRIL 2023
14. Analysis of Charitable Funds
| Unrestricted Funds Charity General Fund Restricted Funds Arts Council England – Grief Floats Baltic – HELD Commission Baring Foundation Community Foundation/Wellesley Trust – Art & Social Justice Dance City – HELD Commission Dance City – Organisational Development Newcastle City Council – Walker Youth Dance (WYDF) Pargiter Trust Street Games UK Tynexe Limited Virgin Money Foundation Total Restricted Funds Total Funds |
Fund at 6 April 2022 £ Incoming Resources in Year £ Resources Expended in Year £ Fund at 5 April 2023 £ 34,013 41,214 (48,552) 26,675 28,982 - (19,982) 9,000 3,000 - - 3,000 - 50,500 (2,124) 48,376 10,000 - - 10,000 1,500 - (1,500) - 5,000 - (5,000) - 12,239 - (12,239) - - 9,789 (3,631) 6,158 - 2,645 (500) 2,145 - 1,731 (1,731) - - 8,000 (6,380) 1,620 |
|---|---|
| 60,721 72,665 (53,087) 80,299 |
|
| £94,734 £113,879 £101,639 £106,974 |
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COMPANY OF OTHERS (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 5 APRIL 2023
14. Analysis of Charitable Funds (Cont.)
| Name of Restricted Fund | Description, Nature & Purpose of |
the |
|---|---|---|
| Restricted Fund | ||
| Arts Council England – Grief Floats | Towards the cost of Grief Floats, a long-term | |
| project which offers ways of reconnecting the | ||
| mind and body during times of grief through | ||
| workshops, discussions and performances. | ||
| Baltic/Dance City - HELD | Towards the cost of HELD, a delayed 2019 project | |
| which offers a reconnection with touch through | ||
| workshops, discussions and performances | ||
| Baring Foundation | Towards the cost of a 2-year programme of | |
| bespoke movement workshops for women who | ||
| are Refugee and/or Asylum experienced and/or of | ||
| the Global Majority in the North East | ||
| Community Foundation/Wellesley Trust | Towards the cost of an art and social justice | |
| – Art & Social Justice | project with young people | |
| Dance City – Organisational | Towards the costs of organisational development | |
| Development | ||
| Newcastle City Council - Walker Youth | Towards the costs of the Walker Youth Dance | |
| Dance (WYD) | project and associated festival | |
| Pargiter Trust | To develop a new performance with CoO | |
| Ensemble and a falls prevention through | ||
| movement programme for older people in | ||
| Newcastle | ||
| Street Games UK | To deliver, in partnership with Street Games, | |
| Newcastle’s Best Ever Holiday Activity and Food | ||
| Programme for 2023 | ||
| Tynexe Limited | Towards the cost of Company Of Others | |
| Ensemble, a performing company of dancers over | ||
| the age of 65 | ||
| Virgin Money Foundation | Towards the costs of Leading the Way, a tailored | |
| learning programme for community enterprise | ||
| leaders |
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COMPANY OF OTHERS (A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 5 APRIL 2023
15. Related Party Transactions
Details of transactions with Trustees are set out in Note 9.
There were no other transactions in the year with related parties, such as are required to be disclosed under the Financial Reporting Standard for Smaller Entities (Effective April 2008) (2022: None).
16. Taxation
The company is a registered charity and no provision is considered necessary for taxation.
17. Financial Commitments
No material financial commitments have been made in respect of future financial periods.
18. Company Limited by Guarantee
The charity is incorporated under the Companies Act 1985 and is limited by guarantee, each member having undertaken to contribute such amounts not exceeding £10 as may be required in the event of the company being wound up whilst he or she is still a member or within one year thereafter.
There are currently 6 members of the company (2022 - 5 members).
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