OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2023-07-31-accounts

CONTEMPORARY DANCE TRUST LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS 31 JULY 2023

CONTENTS

CONTENTS
COMPANY INFORMATION 3
THE PLACE AT A GLANCE 4
WELCOME FROM THE CHAIR AND CHIEF EXECUTIVE 6
STRATEGIC REPORT 9
GOAL 1 - CREATE THE CONDITIONS TO LEVERAGE GROWTH AND AMBITION 11
GOAL 2 - SUPPORT DANCE ARTISTS AND DANCE MAKERS TO MAKE DANCE HAPPEN 13
GOAL 3 - ENABLE MORE YOUNG PEOPLE, AND DISADVANTAGED YOUNG PEOPLE, TO MAKE, PERFORM, WATCH, 15
AND RESPOND TO DANCE
GOAL 4 - BE BETTER KNOWN AS WORLD LEADERS IN DANCE TRAINING, DEVELOPMENT, AND PRESENTATION 18
GOAL 5 - FACILITATE LEADING PRACTICE IN DANCE LEARNING AND TEACHING 22
PRIDE IN OUR PEOPLE 25
FINANCIAL REVIEW 26
GOVERNANCE REVIEW 30
INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS 39
FINANCIAL STATEMENTS 43
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES 43
BALANCE SHEET 44
CASH FLOW STATEMENT 45
NOTES TO THE FINANCIAL STATEMENTS 46

CONTEMPORARY DANCE TRUST LIMITED | ANNUAL REPORT AND FINANCIAL STATEMENTS 2022/23

2

COMPANY INFORMATION

The Board of Governors present their Annual Report, incorporating the Strategic Report and Financial Statements, for the year ended 31 July 2023.

Contemporary Dance Trust Limited is the legal name of The Place. Throughout this document the organisation is referred to as The Place.

Board of GovernorsThe Board of Governors who served during the period and to the date of approval were:
Alan Bishop (Chair) Chris Rowland
Jane Alexander (Vice Chair) Eva Sarma
Michael ‘Mikey J’ Asante MBE John G Stewart
Lisa Baglin (appointed 1 June 2023) Elizabeth Varley
Helen Bailey (appointed 22 March 2023) Catherine Ward
David Blackburn (appointed 22 March 2023) Liz Wilson
Derek Hicks Rosalind Wynn
Shaparak Rahimi
Chief ExecutiveClare Connor
Company ClerkLise Smith (appointed 15 May 2023)
Naomi Thomas (left 14 April 2023)
Senior Staff: ArtisticEddie Nixon, Artistic Director
Senior Staff: EducationBaptiste Bourgougnon, Director of Undergraduate Courses and International Development
Dr Martin Hargreaves, Director of Research and Postgraduate Courses (left 31 December 2022)
Anna Helsby, Director of Registry and Student Well-Being
Dr Efrosini Protopapa, Director of Postgraduate Courses and Research
(appointed 21 November 2022)
Dr Lise Uytterhoeven, Director of Dance Studies
Senior Staff: AdministrationCaroline Busby, Chief Financial Officer
Anna Cassidy, Director of Development
Holly Conneely, Director of Communications (appointed 20 February 2023)
Sanjay Dasani, Head of Operations (appointed 24 April 2023)
Laura Naldrett, Head of Human Resources
Caroline Schreiber, Director of Communications (left 18 November 2022)
Elin Williams, Executive Producer (appointed 2 May 2023)
Christina Elliot, Head of Programming and Producing
Registered OfficeThe Place, 17 Duke’s Road, London WC1H 9PY

Company Registered Number 883094 Charity Registered Number 250216

Auditors Haysmacintyre LLP, 10 Queen Street Place, London EC4R 1AG

Bank Barclays Bank Plc, Hanover Square Corporate Banking Group, PO Box 15163H, London SW1A 1QD

Solicitor CMS Cameron McKenna Nabarro Olswang LLP, 78 Cannon Street, London EC4N 6AF

Investment Advisors McInroy & Wood, 53 Davies Street, London W1K 5JH

CONTEMPORARY DANCE TRUST LIMITED | ANNUAL REPORT AND FINANCIAL STATEMENTS 2022/23

3

THE PLACE AT A GLANCE

INCOME AND EXPENDITURE

----- Start of picture text -----
SCHOOL INCOME
4
SCHOOL EXPENDITURE
24
----- End of picture text -----

PUBLIC PROGRAMME INCOME 42% GRANTS 59% GRANTS 24% HOME UK FEES 30% 24% INTERNATIONAL FEES 11% 9% CENTRE FOR ADVANCED TRAINING 1% OTHER 59 PUBLIC PROGRAMME EXPENDITURE 24% TEACHING AND 27% LEARNING 19% LEARNING RESOURCES 20% TOURING 18% PREMISES AND DEPRECIATION 14% 19% ADMINISTRATION 13% 14% ACADEMIC COSTS 27 13% COSTS OF 6% SCHOLARSHIP AND BURSARY FUNDING

59% GRANTS 30% EARNED INCOME 11% FUNDRAISING

27% THEATRE AND ARTIST DEVELOPMENT 20% PRODUCING AND TOURING 14% PREMISES AND DEPRECIATION 13% ADMINISTRATION 13% COSTS OF RAISING FUNDS

9% CLASSES AND COURSES

4% CREATIVE LEARNING

WHY DOES THE PLACE MAKE AN OPERATING SURPLUS?

TO ENSURE OUR ACTIVITIES REMAIN FINANCIALLY SUSTAINABLE IN THE LONG TERM

TO ENSURE WE CAN MAINTAIN AND UPDATE OUR BUILDING AND EQUIPMENT

TO PROTECT US AGAINST TO ENABLE US TO TAKE EVENTS WHICH MIGHT CREATIVE RISKS AND REMAIN DAMAGE OUR FINANCIAL AT THE LEADING EDGE OF HEALTH CONTEMPORARY DANCE WORLDWIDE

CONTEMPORARY DANCE TRUST LIMITED | ANNUAL REPORT AND FINANCIAL STATEMENTS 2022/23

4

AUDIENCE AND PARTICIPATION

OUR STUDENTS AND YOUNG PEOPLE CONTINUED TO ENGAGE AND EXCEL

----- Start of picture text -----
97%
----- End of picture text -----

97% OF BA GRADUATES RECEIVED 2:1 AND ABOVE

----- Start of picture text -----
94%
----- End of picture text -----

94%

94% OF POST 94% OF UNDERGRADUATE GRADUATE STUDENTS STUDENTS CONTINUE WERE AWARDED A THEIR STUDIES 1 YEAR QUALIFICATION WITH AFTER THEY STARTED, PASS, MERIT OR WHICH IS ABOVE THE DISTINCTION SECTOR AVERAGE

98%

98% OF STUDENTS WE AWARDED 82 RESPONDED POSITIVELY STUDENTS GRANT TO HOW GOOD STAFF ARE FUNDED PLACES FOR AT EXPLAINING THINGS, THEM TO ATTEND THE AS WELL AS HOW OFTEN CENTRE FOR ADVANCED THE STAFF MAKE THE TRAINING PROGRAMME SUBJECTS ENGAGING WHICH IS 63% OF THE COHORT

WE CONTINUED TO INVEST IN ARTISTS AND THE DEVELOPMENT OF NEW WORK

WE HAVE SPENT £315,000 ON 62 NEW ARTISTIC COMMISSIONS AND CO-PRODUCTIONS

WE CONTINUED TO REACH OUT TO NEW AUDIENCES

WE TOURED TO 59 SPACES - FROM ARTS CENTRES TO SCHOOL PLAYGROUNDS, VILLAGE HALLS TO OUTDOOR FESTIVALS

NEARLY 37,000 PEOPLE SAW OUR PRODUCTIONS AT THE PLACE, ON TOUR OR ONLINE INCLUDING NEARLY 4,000 CHILDREN WHO EXPERIENCED OUR PLAYGROUND TOUR

THE PLACE WAS MENTIONED IN THE PRESS AN AVERAGE OF 13 TIMES PER WEEK TOP SOURCES: THE STAGE, THE GUARDIAN, REVIEWS HUB, THIS WEEK CULTURE

WE REMAIN COMMITTED TO CREATE OPPORTUNITIES IN DANCE PARTICIPATION

18,458

ADULT ATTENDANCE IN RECREATIONAL DANCE SESSIONS LIVE AND ONLINE: 18,458

----- Start of picture text -----
5,890
----- End of picture text -----

YOUNG PEOPLE ATTENDANCE IN RECREATIONAL DANCE SESSIONS LIVE AND ONLINE: 5,890 WITH 46% FROM CAMDEN

CONTEMPORARY DANCE TRUST LIMITED | ANNUAL REPORT AND FINANCIAL STATEMENTS 2022/23

5

WELCOME FROM THE CHAIR AND CHIEF EXECUTIVE

CONTEMPORARY DANCE TRUST LIMITED | ANNUAL REPORT AND FINANCIAL STATEMENTS 2022/23

6

Creative Risk Taking

Curiosity and a thirst to explore the new and the unknown are embedded across all our activities, from the artistic offerings in our theatre, to the design of our programmes, classes and courses. You can enter any of our studios at any time, and experience creative risk taking in action. That sense of adventure is perhaps best demonstrated by the sheer breadth and diversity of the artists we commission, and the richness and plurality of creative practices they bring to The Place for our audiences and students to encounter and explore. In recent years, early career artists have been invited to work with our graduating students, both on the undergraduate, postgraduate and Centre for Advanced Training programmes, and both artists and students acknowledge the flow of leadership, learning and teaching runs both ways, with our students well-equipped to be confident and collaborative co-creators.

Resolution, still the biggest festival of new choreography in the UK, continues to attract new makers, including many alumni from not just LCDS but Trinity Laban and Northern School of Contemporary Dance, who seek out The Place to present their newest ideas in dance.

With risk taking comes the potential for failure, which is an inevitable part of maturing as an organisation. We are incredibly grateful to our Board for their continuous support through ongoing challenges and difficult conversations, allowing us to continue to take risks and work hard at creating change that reflects our values and principles.

Activism

Inspired by the integrity and conviction our inspirational students and young people uphold, The Place is increasingly invested in how dance can serve as a tool for activism and advocacy. We are excited to welcome the first cohort of our newest postgraduate programme MA Dance: Participation, Communities, Activism, which will offer a global community of artists the chance to develop and interrogate dance as an engine for change. Course leader Jo Parkes, herself an award-winning global forerunner in socially engaged dance practice, joined the faculty in 2022, and her presence can be felt across the curriculum, notably during the Community Commissions our second year students undertook this year, co-creating with artists and charities working with refugees, migrants, stroke survivors, intergenerational and inclusive groups.

Equality

We continue our efforts to deepen equity and equality at The Place, supported by our Equality and Diversity Action Plan, overseen by an Equality Diversity and Inclusion Committee,

Our partners Creative Access have provided Unconscious Bias training at Governor level, and Quiplash have rolled out Disability Awareness and Inclusion training for LCDS staff teams and students. We are increasingly welcoming visually impaired and deaf artists and audiences, and our Theatre and Artist Development Team and Visitor Service Team received sighted guide training provided by the Royal Institute for Blind People and finger spelling training with Fingersmiths, to confidently work with British Sign Language users.

Diversity and representation, relating to the identities and lived experience of the artists we invite to create at The Place, is centered in all our commissioning choices across Artist Development, Producing and Touring, and at LCDS. In all our recruitment processes, diversity across selection panels and procedures is completely embedded as the way we work.

Locally, we continue to focus on providing opportunities to people to connect to dance to support their wellbeing, best demonstrated by partnerships such as the Partner Schools Programme, our work with Robson House, New Horizons Youth Centre, Clean Break and the Recovery College. With the appointment of Andrea Barzey as Head of Widening Participation and Recruitment at LCDS, we now have a dedicated member of staff to ensure access and participation opportunities to our Higher Education programmes.

CONTEMPORARY DANCE TRUST LIMITED | ANNUAL REPORT AND FINANCIAL STATEMENTS 2022/23

7

Enterprise

Working collaboratively and co-creating with partners is central to how we approach leadership at The Place and in the wider sector. This year, we have continued long held partnerships and entered exciting new ones. Dance Umbrella, London International Mime Festival and BOP Jazz Theatre Company all presented sold-out performances in our theatre. A special evening honouring the legacy of our founding director Sir Robert Cohan was a significant event in the history of our organisation, as was the showcase of new commissioned works created on our students responding to Cohan’s work, demonstrating the evolution of his legacy.

Our Producing and Touring team has forged exciting international partnerships creating opportunities for our Affiliate Artists Frauke Requardt and Igor x Moreno to present their work at festivals across Europe. Responding to the challenges to international touring following Brexit, we ensure international opportunities are strongly woven into the fabric of our commissioning offers. Our Festival of Korean Dance, now in its sixth year, toured across the UK for the first time, and our theatre programme showcased international artists from South Africa, Singapore, Korea and Europe.

Our newly established international BA course in partnership with LASALLE College of the Arts Singapore further illustrates our commitment to keep dance an open and international art form that transcends borders, cultural differences or doctrine, and instead speaks to what brings us together in our common humanity, as citizens of the world.

Environmental Responsibility

This year, we have followed the invitation of the Mayor of London and joined the Business Climate Challenge, a voluntary programme supporting businesses in reducing their energy consumption and carbon emissions. We received tailored support and training to help us on our decarbonisation journey and develop a roadmap towards our goal to be a Carbon Net Zero site by 2030. While the target of the Business Climate Challenge is to reduce energy consumption by 10% in one year, we have exceeded that target twice over, with our own in-house cross-organisational Green Team reporting a 22% decrease of our emissions since 2021/22, based on our electricity, gas and water consumption.

Theatre Green Book training was delivered to Choreodrome artists promoting nationally recognised benchmarked sustainable practice for theatre production, operations and touring. Our updated action plan also includes a campaign strategy to share knowledge and generate change across the sector. For our touring productions we target the baseline Guidance of the Theatre Green Book, measuring our carbon footprint and monitoring actual emissions against projections. We build green clauses into our contracts with Designers, Choreographers, and Production Managers, and monitor the entire lifecycle of material for costumes, set and props, with the ambition to use at least 50% of pre-used materials and ensuring that 60% of it will have a future life beyond each project.

We are active members of the Camden Climate Alliance and continue to liaise with Camden Green Loop, Camden Town Unlimited, and London Higher Network; all offering guidance and support to make change.

Looking forward to a busy year, we continue to be guided by our vision, mission and values, and to engaging the power of dance to imagine the future.

Alan Bishop Chair, The Place

Clare Connor Chief Executive, The Place

CONTEMPORARY DANCE TRUST LIMITED | ANNUAL REPORT AND FINANCIAL STATEMENTS 2022/23

8

STRATEGIC REPORT

With an unprecedented vision for “a world with more dance” Contemporary Dance Trust Limited, trading as The Place, is a global leader in dance training, education, production and presentation. With over 50 years’ experience, The Place fuels the entire life cycle of dance, and this unique ecology sets us apart from every other dance organisation in the world.

A culture of innovation, risk taking, and collaboration drives impact and enables us to fulfil our mission to “power imagination through dance”. Reflecting our values in action - Unlocking potential, Creative risk taking, Activism, Equality, Enterprise – in all our public facing activities and internal working culture, we imagine a future where dance is a powerful force reaching globally beyond borders to accelerate change and generate new ideas for sustainability, social justice and equality.

We believe in dance for all and imagine a future where barriers to participation are removed. This commitment is characterised by our approach which places diversity at its centre and uses the expertise of all our staff and partners to fuel new artistic collaborations and audience connections which reflect the complexities of the world around us.

Based in Camden, we’re home to a 288-seat theatre, an in-house producing team that supports the creation of national and international touring work, classes and courses for young people and adults, as well as pioneering participatory opportunities with our local communities. We offer professional development programmes for independent artists and deliver pre-Vocational training through our Centre for Advanced Training and Higher Education through the world-leading London Contemporary Dance School.

CONTEMPORARY DANCE TRUST LIMITED | ANNUAL REPORT AND FINANCIAL STATEMENTS 2022/23

9

Strategic Objective Key Deliverable Progress
1. Create the conditions
to leverage growth
and ambition		 – Exceed target cash position of £700k
and target reserves position of £1m
by 2024/25		 – Exceeded – Cash position £2.4m.
Unrestricted reserves £3.5m
Supported by successful year as an independent
Higher Education Provider
– Secure future National Portfolio
funding from Arts Council England		 – Met - NPO funding secured 2023-2026
2. Support dance artists
and dance makers to
make dance happen		 – Support no less than 150 artists per
annum through Public and Education
programmes in line with our
Commissioning and Teaching strategy
 – Exceeded – 272 artists supported comprising
15 Choreodrome, 11 Work Place, 57 lead artists
and over 170 collaborative artists in Resolution
Festival and 19 commissions
each year through to 2023
3. Enable more young
people and
disadvantaged young
people to make,
perform, watch, and
respond to dance		 – Access and Participation Plan targets:
POLAR4 Quintiles 1 and 2 25%,
on target, Indices of Multiple
Deprivation Quintiles 1 and 2 39%,
ahead of target, Black Asian and
Ethnic Minority 25% , on target		 – Partially met – POLAR4 Q1&2 at 20% (reduced
gap between Q1 and Q5 to 29pp, under APP
target gap of 24pp), Indices of Multiple
Deprivation Q1&2 at 33% (reduced gap between
Q1 and Q5 to 9pp, exceeding APP target gap of
20pp), Black Asian and Ethnic Minority under
target at 20% against a target of 25% (APP target
was 26%)
– Secure financial partnership to grow
our work with Camden Primary
Schools by June 2023		 – Exceeded – John Lyons partnership investment
secured to 2025
4. Be better known as
world leaders in dance
training, development,
and presentation		 – Assert our leadership responsibility
by contributing to sectoral advocacy
in partnership with no less than one
local authority (Greater London
Authority), one national network
(Creative Industries Federation) and
two governmental departments
Department of Culture, Media and
Sport and Arts Council England		 – Exceeded – with GuildHE supported five
Regulatory sector briefings, London Higher
International Women’s Day contributor,
Cultural Education Plan consultation with
Department for Culture Media and Sport via
Arts Council England, Creative UK, sponsor
partnership with One Dance UK, cultural strategy
group partner to Camden Council and new
partner for National Saturday Club
– Theatre audience: target on or
above 63%		 – Partially Met – theatre audiences 61%
5. Facilitate leading
practice in dance
learning and teaching		 – Secure world-leading specialist
provider funding from Office for
Students		 – Exceeded – funding secured 2023-2027
– LCDS - 75 enrolments, 72 students
retained		 – Met – 75 students enrolled
B3 conditions for student continuation and
completion exceeded
– Marketing and recruitment for two
new MA programmes		 – Met – successful marketing and applications
for two new MA programmes
– Achieve 300 attendances per week
on new CYD programme		 – Partially met – 232 participants attended on
average per week. Plans in place to support
growth in 2023 alongside other enterprises and
earned income
– Provide three CPD opportunities for
15 artists to deliver best practice in
delivering creative dance in schools		 – Exceeded – delivered four CPD sessions with
15 artists to develop creative practices in schools

CONTEMPORARY DANCE TRUST LIMITED | ANNUAL REPORT AND FINANCIAL STATEMENTS 2022/23

10

GOAL 1 – CREATE THE CONDITIONS TO LEVERAGE GROWTH AND AMBITION

Leverage opportunities for growth and innovation through mission and vision

We have successfully navigated our first year as an Independent Higher Education Provider, and the new set of reporting requirements this involves.

Following the planned changes to our undergraduate education programme last year, we have invested in the development of our postgraduate provision, introducing two new programmes – MA Dance: Performance and MA Dance: Participation, Communities, Activism - and recruiting four new faculty members, each internationally renowned leaders in their respective fields.

In the pursuit of our mission, we set out ambitious goals to stabilise our core fundraising income, but have found fostering new connections amidst the current economic conditions challenging. We are proud of notable successes in our project-based fundraising endeavours, receiving generous contributions to fuel our programmes and amplify our impact. These meaningful partnerships drive our mission, creating spaces for creativity, innovation, and artistic excellence. A new 5-year plan allowing for increased investment in artistic creation, producing and touring has been developed and presented to the board.

Two successful funding outcomes this year – National Portfolio Organisation funding from Arts Council England and world-leading specialist provider funding from the Office for Students (OfS) - as well as Higher Education Innovation Funding (HEIF) for 2023/24 will be instrumental in ensuring The Place can maintain and develop its world class dance ecology. Our graduates are the next generation of changemakers and our strongest asset to achieve our vision for a world with more dance.

Accumulatively, the two multi-year funding programmes we have secured this year amount to £12.9m over the funding period. The Place presents itself at the end of this business planning period with our cash balances and reserves well in excess of the targets set.

Develop digital infrastructure and improve organisational knowledge

Digital confidence of our staff has been monitored through an all staff survey indicating good levels of staff confidence. Upskilling staff and the theatre recording provision has increased our live streaming capabilities with broadcasting now fully integrated in our theatre. Through this, BA3 performances in November 2022, February, March and July 2023 were livestreamed, making them accessible to audiences all over the world, including prospective future students.

Audience thirst for digital performance has ebbed post Covid, and accordingly we have prioritised the return to a varied and bold live theatre programme. However, we are eager to build on our global digital audience developed during Covid, and have used this year to consult with culture sector partners (Fest En Fest and FRINGE! Queer Film and Art Fest) to explore digital provision and develop our knowledge for the delivery of a digital programme, launched in September 2023 alongside the live theatre programme.

Ensure regular feedback and dialogue with beneficiaries is embedded in the public programmes to build leading service provision for dance

Within our Artist Development programmes, our cohort of Work Place artists has three annual meetings to offer feedback and check in on their projects and practice. Our Choreodrome 2022 artists were overall satisfied with the support available, and found it a transformative experience. We are recruiting for an Artist Associate role to co-design and co-create our programmes, to better reflect artists’ needs and enable sustainable careers in dance. In support of this role, we spoke to 13 artists to seek their feedback and input. The first Associate Artist will commence in January 2024.

To evaluate our theatre programme, we have submitted the required Insight and Impact and Audience Agency surveys in line with ACE guidelines for NPOs. Going forward, we will transition to Illuminate, a new audience insight and benchmarking tool, but are not required to report before 2024/25.

At LCDS, 2022/23 saw the implementation of the Learning and Teaching strategy, with a strong emphasis on staff development, formalised inductions for guest faculty and de-brief conversations with visiting artists and guest teachers. University of the Arts London colleagues commended the reflective nature and detailed knowledge of the students evident in LCDS’s Annual Course Monitoring Reports.

As part of our developing Classes & Courses programme, we share a termly survey with all participants who attend classes at The Place, which feeds into any changes to this provision alongside monitoring the quality of their experiences. We currently meet our Over 60’s focus group twice a term to discuss current provision, potential artist collaborations and wider project opportunities.

CONTEMPORARY DANCE TRUST LIMITED | ANNUAL REPORT AND FINANCIAL STATEMENTS 2022/23

11

Diversify leadership and workforce and put in place structures/mechanisms to ensure greater inclusivity

In support of our Equality and Diversity Action Plan and associated data returns for Arts Council England and the Higher Education Statistical Agency, all staff are invited to update their data annually via an online survey. Disaggregated data for the workforce for the period shows higher percentages of female, LGBTQ+, disabled and global majority staff, but there is still work to be done to secure greater diversity in the permanent staff body as well as the casual staff team and this continues to be an area of priority and focus.

At Board level, global majority representation is 20%. Following concerted efforts we now have global majority representation in the Senior Management Team. The Place is a female-led organisation with higher female than male representation across its workforce, and significantly more LGBTQ+ representation compared to the London population.

Further work to improve the representation of disabled people amongst our workforce is needed, however there is representation of neurodiverse people at Board level and across staff, with the majority of people who identified themselves as neurodiverse categorising their neurodiversity as Specific Learning Differences, representing 4% of our total workforce.

Staff turnover was higher than normal this year at 36% (compared to 24% in 2021/22), in line with a similar reshuffling observed across the entire arts sector post Covid. We advertised and filled 35 permanent roles. Our new applicant tracking system, Team Tailor has allowed us to simplify our recruitment processes and make them more accessible.

As part of a wider organisation HR strategy, we continue to run our bespoke management development programme and have now developed this into a new programme for our Producing team to build their skills. Presentations sharing our experiences and expertise have been made to our Board of Governors and externally with consultant Carrie Birmingham to the Arts HR Group with future sessions planned with GuildHE.

CONTEMPORARY DANCE TRUST LIMITED | ANNUAL REPORT AND FINANCIAL STATEMENTS 2022/23

12

CONTEMPORARY DANCE TRUST LIMITED | ANNUAL REPORT AND FINANCIAL STATEMENTS 2022/23 13

GOAL 2 - SUPPORT DANCE ARTISTS AND DANCE MAKERS TO MAKE DANCE HAPPEN

This has been a year of extraordinary creativity in our studios, as artists have explored how movement can express the urgent issues of our time. Our role is to provide care, resource and support to enable artists and ideas to thrive, and to connect them to audiences across the UK and beyond. More than ever before, we worked with a huge network of partners, both longstanding and new – London International Mime Festival, Dance Umbrella, Robert Cohan Dance Legacy, Korean Cultural Centre UK, BOP Jazz Theatre and others - knowing that we can achieve so much more through collaboration.

Provide a home to a diverse community of artists to develop their craft

Our current cohort of 11 Work Place artists continue to receive bespoke support to develop their practice and careers. In 2022/23 we enabled Simone Mousset to attend the Aerowaves Festival in Dublin as an emerging curator, Sivan Rubinstein and Kesha Raithatha attended European Dancehouse Network meetings, and we supported four artists with Access to Work applications.

To ensure relevancy in our professional development opportunities, we launched a series of labs co-curated with artists on ideas or dance practices they want to share with the wider dance community. In the first four-day labs, cabaret artist Cleopantha hosted an exploration into cabaret movement styles, and tips on how to navigate the industry. The lab was hugely oversubscribed, with 80 applications for 30 free places.

This year, 57 artists and companies took part in Resolution, still the biggest festival of new choreography in the UK. Alongside the professional performance opportunity, Resolution artists have access to free workshops and development opportunities which this year included dramaturgy with Orrow Amy Bell, lighting design with Jo Palmer and producing with Luisa Hinchliff. We were pleased to see people return in greater numbers to the festival with audiences 18% higher than in 2022.

We continue to offer professional development opportunities online. Our Webinar Wednesday series this year included sessions on Social Media and Documentation with Lydia Cottrell, on Access and Care within Artistic Practice with Demi Nandhra, and Creating with Risk and Precarity with Elinor Lewis.

CONTEMPORARY DANCE TRUST LIMITED | ANNUAL REPORT AND FINANCIAL STATEMENTS 2022/23

14

CONTEMPORARY DANCE TRUST LIMITED | ANNUAL REPORT AND FINANCIAL STATEMENTS 2022/23 15

Offer world class opportunities to artists through national and international partnerships

We have developed our international partnerships to support the ambitions of UK artists and provide opportunities for international artists to make work in residence in the UK.

For the first time, we are co-producing with international partners: Igor x Moreno’s Karrasekare is a co-production between The Place, S’ALA (Italy), Theatre de la Ville (France), Bora Bora (Denmark), Fondazione Romaeuropa (Italy) and Spaziodanza (Italy). This year there were residencies in Denmark and Italy, and the show will premiere in Rome in November 2023.

We supported Requardt and Rosenberg to tour their work internationally for the first time: over 2,000 audiences at Barcelona’s La Merce festival were dazzled by Future Cargo’s alien invasion. The opportunity for our producing team to network with Catalonian presenters has led to a new partnership with Sismograf Festival in Olot. They have joined our Stomping Ground partnership, which commissions new outdoor dance, as the first international presentation partner, guaranteeing the 2023/24 commissioned work an international touring date, invaluable for independent artists who struggle to develop or maintain European partnerships in the wake of Brexit.

A new bilateral partnership between UK and Italian dance organisations allowed us, alongside South East Dance, FABRIC (UK) and S’ALA, Gorizia and Armunia (Italy), to support Akeim Toussaint Buck and Ella Mesma to develop their new work OKAN in residence in Tuscany in May 2023.

We continue to strengthen our partnerships in East Asia. This year, we have worked with Seoul Performing Arts Festival to co-commission a new piece by Sung Im Her, and we have secured funding from Taiwan Ministry of Culture to support residencies by Shimmering Productions and Pin-Wen Su in London in autumn 23.

We collaborated with UA Contemporary Dance Platform, Ukraine, to produce Let The Body Speak: Over 70 Ukrainian Artists were supported through online professional development workshops and the creation of a digital hub to collect dance videos from Ukrainian dancers and choreographers. The culmination of the project was an online international sharing, showcasing work available to tour by three Ukrainian artists.

For our annual summer residency programme, Choreodrome, we built new partnerships with East London Dance to support hip hop artist Chaldon Williams, and with AΦE, a Kent based company founded by Aoi Nakamura and Esteban Lecoq, who hosted Lydia Cottrell for a VR residency in their studio in Chatham, reflecting the current priorities and needs of dance makers.

CONTEMPORARY DANCE TRUST LIMITED | ANNUAL REPORT AND FINANCIAL STATEMENTS 2022/23

16

Support the UK touring sector through strategic partnerships

We launched the third edition of the Rural Touring Dance Initiative (RTDI) in summer 2022. This significant national project has been awarded £450,000 from Arts Council England and £400,000 from Esmée Fairbairn Foundation in recognition of the ongoing impact of this vital work, connecting dance artists to tour to rural spaces. Alongside existing partners Take Art and National Rural Touring Forum, and new partners Highlights and Sonia Sabri Company, we will tour eight productions a year from 2023/24 to 2025/26, with over 200 performances expected.

In May 2023 we announced nine new associate venues for RTDI, including Kirkgate Centre, Cockermouth, Bishop Auckland Town Hall, Haverhill Arts Centre, Weston College and Thimbemill Library, Smethwick. These venues will receive programming and marketing support to develop their dance programmes across the three years of the project.

In spring 2023, we worked with the Korean Cultural Centre UK to plan and deliver the first UK tour of our popular annual Festival of Korean Dance. Three companies visited Warwick Arts Centre, Coventry; The Lowry, Salford; and The Dance Space, Brighton, in addition to performances at The Place. As part of our commitment to reduce the environmental impact of touring, it is a priority to find onward touring opportunities in the UK for international companies visiting London.

We have continued to tour shows that we have produced, notably a run of Donuts (Jamaal Burkmar/Extended Play) at the Edinburgh Fringe, performances of Future Cargo (Requardt and Rosenberg) at Coal Drops Yard, King’s Cross in partnership with Argent, and a remount of Sivan Rubinstein’s Dance No. 2 alongside a version suitable for smaller community and rural spaces, called No Land B. In total, tours of shows produced and co-produced by The Place reached audiences of 17,471 in 2022/23, through 74 performances in 59 venues.

CONTEMPORARY DANCE TRUST LIMITED | ANNUAL REPORT AND FINANCIAL STATEMENTS 2022/23

17

GOAL 3 - ENABLE MORE PEOPLE, AND DISADVANTAGED YOUNG PEOPLE, TO MAKE, PERFORM, WATCH AND RESPOND TO DANCE

Through our programming and engagement work we have provided opportunities for thousands of young people to experience dance both in and around our London home and across the country, as audience and participants.

Local and National Learning Programmes

In Camden, over 700 children from our 15 Partner Primary Schools visited The Place for workshops, saw our Christmas show, experienced 10-week creative projects with professional artists and and visited a performance by our BA2 students in their schools. The project culminated with 708 children performing for their families at the Camden Schools Dance Festival in our theatre in March 2023. Our annual Youth Dance Platform and Camden Youth Dance Festival saw a further 263 young people perform in our theatre in February, keenly watched by our Youth Focus Group who nominated one of the groups to perform in Camden Council’s Summer Youth Celebration Event in July 2023. They also curated and hosted the Fresh 2022 platform in our theatre. We collaborated with Motion Dance Collective and 20 children from the Special Educational Needs Unit at Robson House School to create two wonderful dance films for them to keep and share with their teachers and families.

Our classes for children and young people at The Place saw almost 6,000 attendances at our Saturday morning classes for 3–18 year-olds, including a new Children and Grown Up’s class for 3-5 year olds. To help provide access to these classes we offered bursaries to 50 families to enroll. In July we were able to bring 160 of our young dancers, their teachers and musicians together to perform in our theatre for the first time since 2019, watched by 500 of their families and friends. The Place’s Youth Dance Companies, Shuffle and Shift performed at 10 platforms locally and nationally across 2022/23, including the U.Dance National Festival in Newcastle.

Our Centre for Advanced Training (CAT) received funding for 2022/23 via the Department for Education, Music and Dance Scheme to deliver high quality pre-vocational training to 126 students aged 11-18yrs. We offered funded places to 80 dancers ensuring there is wide access to this programme – 67% of these received a full grant to participate. Throughout the year the students have worked with many visiting professional dance artists including New Adventures, Xzibit Young Creatives, Fubunation, Kesha Raithatha, Amarnah Amuludun and Saju Hari. Our 20 graduating CAT students will pursue the next stage of their creative and life journeys at London Contemporary Dance School, Northern School of Contemporary Dance, Rambert, London Studio Centre, LMA, Central School of Speech and Drama, Oxford University, Cambridge University, University of Scotland, Canterbury Christ Church University and others.

CONTEMPORARY DANCE TRUST LIMITED | ANNUAL REPORT AND FINANCIAL STATEMENTS 2022/23

18

CONTEMPORARY DANCE TRUST LIMITED | ANNUAL REPORT AND FINANCIAL STATEMENTS 2022/23

19

Family Performance Programme for Children and Young People at The Place and on Tour

We continue to support the creation and performance of high quality and engaging works for children both at The Place and through touring to a wide variety of spaces from schools’ playgrounds to public libraries and large-scale family festivals, inspiring thousands of children across the country.

In October we hosted sell-out performances of Do Re Mi Ka Do by Jenia Kasatkina and De Stilte, touring with Dance Umbrella and the Orbital Touring Network. Shape It, our international project exploring new approaches to developing shows for young audiences, concluded with final performances in Finland and Italy.

Over the Christmas period, we hosted a fifteen-show run of Snowed In by Anatomical, drawing young audiences and their grown-ups into a magical winter world. We presented a day of performances and workshops for families at Easter, showing The Bull and the Moon by De Nada Dance Theatre and Choogh Choogh by Beeja Dance. Our summer programme closed with the return of Family Dance Day, hosted for the second time at Coram’s Fields, a children’s only park and playground near The Place.

SAY’s piece the album: skool edition toured to another eight locations this year including a primary school in Battersea, a shopping centre in Basingstoke, and an outdoor dance festival taking over the city of Derby. It is now in its third year of touring and we are delighted to see more interest coming from new partners for 2023/24.

The Little Prince by Protein toured for three weeks with RTDI in Spring 2023, reaching new, young dance audiences in North Wales and Kent, Somerset and Norfolk which are considered Priority Places by Arts Council England. Some of the venues had never presented dance before but were keen to start their programming through family audiences.

Is This A Dance by LAVAELO premiered before coming to our own theatre. We also presented a Bengali version at the British Library in King’s Cross and at The Egg, Theatre Royal Bath where families and children from Bengali heritage represent a significant percentage of the population.

Our flagship touring programme for outdoor children’s work, The Playground Tour welcomed two new partners this year with Wandsworth Council and Stanley Arts in Croydon joining Dance Reading, The Egg, Applause, Outdoors 101 and The Place to present exciting new dance works in primary schools’ playgrounds. Hip hop company BirdGang Ltd and disability-led theatre company Daryl and Co were commissioned to adapt an existing piece into a 20-minute show suitable for playgrounds. The Playground Tour visited nineteen locations across the country, including schools in areas of lower arts engagement in Croydon and Reading, reaching a total of 3,918 children during the summer term.

CONTEMPORARY DANCE TRUST LIMITED | ANNUAL REPORT AND FINANCIAL STATEMENTS 2022/23

20

GOAL 4 - BE BETTER KNOWN AS WORLD LEADERS IN DANCE TRAINING, DEVELOPMENT, AND PRESENTATION

Increase audience and participant engagement and reach to connect with new audiences and participants

Through the breadth of programmed and produced work in the theatre, new and deeper partnerships, and increased accessibility, we have significantly increased audience engagement and reach this year.

We continued to attract new audiences in the theatre - 63% of bookers for our main theatre programme were booking for the first time, and 58% of those who booked for Resolution Festival had not booked before.

Through new and existing partnerships we reached wider audiences: in September we hosted seven sold out performances as part of the London International Mime Festival; in April we partnered with Queer East Festival for their first live performance strand, and hosted Breakin’ Conventions as part of their 20th anniversary festival; and in May our annual Festival of Korean Dance went on its first ever UK tour. We also set up new collaborations with organisations including Queer Britain and The East Asian Ticket Club.

We increased access to contemporary dance by taking one of our new flagship productions outdoors. Over 1000 audience members experienced Requardt and Rosenberg’s atmospheric, other-worldly Future Cargo when it premiered at Coal Drops Yard as part of the King’s Cross Summer Sounds Festival for seven evenings in August. This was followed by performances at Barcelona’s annual festival La Mercè in September – the first time the company, which has existed for 12 years, has performed outside the UK.

Our programme of contextual events, workshops, watching dance class opportunities and post-show talks, online, live and on tour continued to deepen audiences’ experiences. This year, 21 out of 24 shows had post-show talks which were all BSL interpreted. On average, over 40% of audiences stayed to attend a post-show talk, demonstrating an unprecedented level of interest and in-depth audience engagement.

Our family production for the festive period, Snowed In by Anatomical, exceeded sales from the previous year reaching more young audiences. The show also exceeded its audience target by 105% and engaged over 1000 children, including almost 600 children from our 11 local partner schools. For many of them it was their first exposure to dance and to The Place, with 67% first time bookers.

“My little nephew was thrilled. He couldn’t stop dancing afterwards. His first dance experience ever. Thank you.” Audience feedback for Snowed In.

Classes and courses participants attracted close to 11,500 adults and 900 children both in person and online across the year. A key focus this year has been to widen the range of dance styles offered to our local community. This has included spotlighting additional styles such a Waacking, Bharatanatyam and Ballroom and Latin as part of our Summer Intensives. To deepen our external partnerships and commitment to accessibility, we invited Candoco Dance Company to lead a week-long professional intensive led by Company Dancer Anna Seymour, supported by Sign Language Interpreters.

CONTEMPORARY DANCE TRUST LIMITED | ANNUAL REPORT AND FINANCIAL STATEMENTS 2022/23

21

Raise the profile of The Place and its impact locally, nationally and internationally

The Place, its work, and its associated artists have been mentioned in the press nearly 700 times this year, with a relatively even split between press coverage for The Place (38%), LCDS (28%) and the activities of our Associated and Work Place Artists (32%). This equals a reach of approximately 359 mio OTS (Opportunities To See). We have achieved coverage in National Broadsheet press 57 times, including our most important outlets the Guardian (25 mentions), the Observer, Times, Financial Times, the I and the Daily Telegraph, and mentions in The Stage, the UK’s most important industry news source (28 mentions).

The Financial Times chose the performance of Future Cargo at Coal Drops Yard as one of their “Reasons to love London”, and news of LCDS student Janice Ho playing the Queen in the Platinum Jubilee Celebrations hit the headlines of many national newspapers. The most recent London International Mime Festival was a hot tip on many cultural platforms including the Londonist and the Guardian, with many of them mentioning the opening night of the festival at The Place. On the and..., our evening celebrating the late Sir Robert Cohan was widely reviewed by national and industry press, and for those publications who do star reviews, the most popular works this year came from Katherina Radeva (4 stars), LCDS alum Charlotte Mclean (4.5 stars) and Kakilang (5 stars). Our new partnership with BOP Jazz Arts, reviewed by First Night Magazine (4 stars) opened up The Place to a new West End focused publication as well as reaching a considerably more diverse audience.

Our international guests the Soweto Skeleton Movers talked to BBC News Africa and the teenager Nick Lee received a lot of press attention when he became one of the youngest students ever to be admitted to LCDS. His story of teaching himself how to dance in lockdown was covered by BBC News and Manchester Evening News.

Resolution, going strong for over 30 years, was reviewed by The Stage and the Observer, as well as other dance publications and blogs. This year, we have also started working increasingly with Instagram influencers People of Theatre to feature our artists and shows.

CONTEMPORARY DANCE TRUST LIMITED | ANNUAL REPORT AND FINANCIAL STATEMENTS 2022/23

22

National and International

Locally

CONTEMPORARY DANCE TRUST LIMITED | ANNUAL REPORT AND FINANCIAL STATEMENTS 2022/23

23

Provide sector leadership within education, culture and arts sectors by making our learning visible

Throughout the year, the team at The Place played a significant role in knowledge sharing in the dance sector nationally and internationally.

Chief Executive Clare Connor was appointed External Examiner for Middlesex University’s first international PhD scholar from Beijing Dance Academy; joined the GuildHE Reguatory Briefing Advisory Committee; became Learning Committee Chair and Governance Committee member as trustee for Sadler’s Wells; represented The Place at the Arts Council England roundtable in support of the Department of Education’s consultation on the new Cultural Education Plan; was selected to contribute to London Higher’s International Women’s Day campaign and Leadership Event hosted by Professor Colin Bailey CBE, Vice Chancellor Queen Mary University; and joined the panel for the appointment of the new Principal of Rose Bruford College, Professor Randall Whittaker.

Director of Dance Studies Dr Lise Uytterhoeven gave a keynote speech on radical curriculum design at Beijing Dance Academy Dance Forum which was viewed by over 4 million people; presented on “New paradigms for participatory co-creative dance practices: communities and activism” at the Dance Studies Association annual conference in Vancouver; and spoke about Access at a symposium by Dachverband Tanz Deutschland. Lise was also appointed to the Teaching Excellence Framework (TEF) panel by the Office for Students (OfS); served as External Examiner at University of Chichester, Kingston University and Edinburgh College; and examined a Professional Doctorate in Education at the University of Bolton.

Artistic Director Eddie Nixon became chair of Pavillion Dance South West, joined the UK Dance Network Steering Committee and attended the Where To Land conference of 100 cultural leaders in Strasbourg.

Director of Postgraduate Courses and Research Dr Efrosini Protopapa represented LCDS at the CoDa (Cultures for Dance) Research Network for Dance Studies funded by the Research Foundation Flanders (FWO); and continued her role as External Examiner for MA/MFA programmes at Royal Central School of Speech and Drama.

Across the organisation, other representatives included:

Lecturer Dr Tom Hastings, who presented on the BA1 Protest Project at London Contemporary Dance School at the Dance Studies Association annual conference in Vancouver.

Course leader Jo Parkes, who presented on the new Dance Participation, Communities, Activism MA at Aktion Tanz Summer School and was invited as a speaker by People Dance for Letting The Light In, a connected conversation for a dis-united nation.

Creative Learning Producer Maria Ryan, who joined a Research Cluster at Middlesex University to address Equity, Diversity and Inclusion in Dance, Education and Digital Society; and presented on Creative Learning for MA students at London Studio Centre.

There were also a number of notable publications throughout the year:

Vicky Mantey published an article in Race Today, in conversation with other key Black women in Hip Hop dance and culture, with plans to publish this as an e-book.

Dr Lise Uytterhoeven was interviewed for an article in Dance Education in Practice on ‘COVID-19 Pandemic and Online Dance Education: Issues, Opportunities, and New Pedagogies’.

Tom Hastings published a book review and article entitled ‘Shut Up and Dance’ in the Performance Research: On Protest issue.

Jo Parkes published a guest blog on the People Dancing website to celebrate the launch of MA Dance: Participation, Communities, Activism.

Steph De’Ath led a workshop with the dancers of Shechter II on dance science and wellbeing for dancers, which will be developed into a further knowledge exchange project for 2023/24.

CONTEMPORARY DANCE TRUST LIMITED | ANNUAL REPORT AND FINANCIAL STATEMENTS 2022/23

24

Demonstrate the relevance of dance in everyday life through creative practice and cultural activism

The Place continues to support its community, students and artists to run initiatives of cultural leadership and activism.

FRESH, an event curated by The Place’s Youth Focus Group, returned to The Place in November for the first time since 2019. The vibrant evening included mixed-bills of bite-sized performances alongside works by Khronos Company (Brit School) and The Place’s resident youth company Shift. We received some brilliant feedback from audience members including Protima Chatterjee who runs Abundant Art: “I watched Fresh and I loved the event and the concept. What an amazing platform for young budding dancers. Congratulations to the team for putting up a brilliant line up. It’s eye opening for the young participants to see all the various forms and know about a wider network of performers.”

Student Voice has continued to be a strong theme across 2022/23. 10% of all students across undergraduate and postgraduate got involved as student representatives, and an average of eight student representatives attended each Academic Board meeting. Their voice at these meetings is crucial to ensuring the student voice is fed into key conversations, particularly around elements of teaching and learning which impact them directly. The student representatives also played a key role in the Teaching Excellence Framework by submitting their own Student Submission.

CAT students curated, choreographed and presented work at their own CAT Leavers Ceremony in July. Five BA2 students were part of the panel that commissioned the Community Co-Creations for their Unit 6 alongside LCDS and Creative Learning staff, a process that taught them new insights about selective and competitive processes shared more widely with their cohort. The lead graduating student reps Ellie Peacock and Megan Bader gave a lively and captivating farewell speech at their Leavers Ceremony in July.

CONTEMPORARY DANCE TRUST LIMITED | ANNUAL REPORT AND FINANCIAL STATEMENTS 2022/23

25

GOAL 5 - FACILITATE LEADING PRACTICE IN DANCE LEARNING AND TEACHING

CONTEMPORARY DANCE TRUST LIMITED | ANNUAL REPORT AND FINANCIAL STATEMENTS 2022/23

26

Strengthen existing and develop new international partnerships for innovation and growth

During the year, 15 BA students went on Exchange to our partners in the United States of America, Brazil, France, Taiwan and South Korea; and LCDS welcomed a total of eleven students from our partners. The international exchange programme is oversubscribed, with student demand outstripping places available.

The LCDS faculty visited Dublin, Singapore, North Carolina, New York, Mexico and Brussels for international recruitment for both undergraduate and postgraduate courses, and Baptiste Bourgougnon taught a series of contemporary dance workshops at Beijing Dance Academy online.

In July 2023 LCDS and the LASALLE College of the Arts in Singapore fully validated a new co-delivered BA in International Contemporary Dance. The collaboration is the first of its kind in Dance Higher Education. It will give a cohort of 25 international students the unique opportunity to live and learn in two extraordinary cultures and cities, spending their first year studying at LCDS and their second and third year at LASALLE. Student recruitment will begin in autumn 2023, with the first cohort starting in September 2024. The course is validated by the newly formed University of the Arts Singapore.

LCDS launched its new and unique Exploring Cunningham Technique[®] Fundamentals continuing professional development course. This short studio-based course was taught by Jeannie Steele and fully endorsed by the Merce Cunningham Trust. Feedback from the six international participants was overwhelmingly positive, particularly about strategies for giving feedback to students and working with live musicians in the classroom. This course forms part of a wider, globally accessible Continuing Professional Development for Dance Teachers short course offer that LCDS is developing further for 2023/24, with a vision to celebrate and share innovative practices and promote accessibility, inclusivity, and cultural exchange in professional development for dance practitioners.

CONTEMPORARY DANCE TRUST LIMITED | ANNUAL REPORT AND FINANCIAL STATEMENTS 2022/23

27

CONTEMPORARY DANCE TRUST LIMITED | ANNUAL REPORT AND FINANCIAL STATEMENTS 2022/23 28

Innovation in digital content and online learning

As part of rolling out the second year of the new University of the Arts London-validated undergraduate course, LCDS has implemented Unit 4: Collaborative Creative Practices for the first time, creating new learning opportunities to creatively explore cutting-edge digital technologies. This included a collaboration with UAL students on the BA Immersive Media and Mixed Reality. By invitation of faculty member Omari Carter, our second-year students worked with award-winning multimedia artist Antoine Marc and Art Director, Animator and CG Artist Manos Kanellos on a project that merged dance with immersive media, with hands-on explorations of cross-field collaborations, AI tools such as Rokoko Video AI tool, UX in Hybrid performance and more.

LCDS worked with Motion Dance Collective to film the Unit 4: Introduction to Body Percussion on location in Studio 9 in March. In this sharing, the students were introduced to binaural sound recording, and a professional film crew were hired to capture the performance. The film has been recorded with a special microphone which can capture sound in the round. Audiences got an opportunity to experience the film and the spatialised musical-movement scores in-person with headphones in the Theatre Bar during the Graduation Performances.

Building on the learning during the Covid-19 lockdowns, the MA Dance: Participation, Communities, Activism recruited its first cohort to start this September. This will be LCDS’s first low-residency course, delivered through 2-week on-site intensives and online distance learning and embedded placements. It is specifically designed to enable mature learners to combine online study with existing commitments, such as work or caring, through a part-time mode of study and does not require students to relocate to London. During the validation process with University of the Arts London, the panel commended the team on the ‘ambition of the course’, noting how by bringing together the professional sector and the community dance and activist values as ‘both relevant and important’.

CONTEMPORARY DANCE TRUST LIMITED | ANNUAL REPORT AND FINANCIAL STATEMENTS 2022/23

29

PRIDE IN OUR PEOPLE

Awards

Achievements

CONTEMPORARY DANCE TRUST LIMITED | ANNUAL REPORT AND FINANCIAL STATEMENTS 2022/23

30

FINANCIAL REVIEW

For the year ended 31 July 2023, The Place recorded a surplus on general unrestricted funds after taxation of £1,065,174 (£433,301 in 2021/22). The net movement of the restricted funds amounted to a deficit of £167,142 (£421,889 in 2021/22) as costs were allocated to grants received and recognised in previous years as well as the depreciation allocation to the Place for the Future Fund that was created in 2010.

The surplus on unrestricted funds is in line with the budget set by management and is as a result of several measures and decisions taken by the management team in order to secure the organisation’s future.

In autumn 2022 we received the very welcome news that we would be in receipt of world-leading specialist provider funding for five years from 1 August 2022 and Arts Council England National Portfolio Organisation grant income for three years from 1 April 2023. This has given us some financial security for the next few years; however, neither source of funding is subject to increases dueto inflation, and UK undergraduate student fees have not increased since 2017. Conversely, all of our costs are subject to the high inflation rates we are experiencing and therefore we anticipate that it will become financially challenging for us if no inflationary increases to income are received, which would have a negative impact on our levels of unrestricted reserves in future years.

Total income in 2022/23 was £9,363,886 (£7,461,685 in 2021/22), £6,864,360 of which was unrestricted. This is a large increase in income from the prior year, being primarily driven by additional grant income and an increase in total student fee income. Income has grown considerably over the past five years from £6,912,641 in the year ending 31 July 2018, an increase of 35%. Grant income has increased by 49% in that period and fee income by 41%.

Grant income in 2022/23 was £4,577,757 (£3,197,835 in 2021/22). In October 2022, following our registration as an independent Higher Education Provider we were awarded world-leading specialist provider funding of £1.6m which was an increase on the share received via the Conservatoire for Dance and Drama in the prior year of £796,723. In addition, our ACE NPO funding was renewed for a further three years, from 1 April 2023 at the same level as the prior NPO grant. A one-off payment from the Conservatoire of Dance and Drama of £271,008 was received on the wind up of the Conservatoire. Also, in the year we have received through funding applications with artists several additional grants to fund artistic activities. Lastly, we have a new 4.5 year Rural Touring Dance Initiative project, which is jointly funded by Esmée Fairbairn and ACE. In this financial year we received £140,000 from Esmée Fairbairn.

Student fees income was £3,602,318 (£2,988,356 in 2021/22) with increases in undergraduate income driven by the increases in undergraduate numbers and international recruitment as per our strategy as well as an increase in classes and courses income, although this particular income is still not back to pre-Covid levels.

Performance income (£275,686; £3,299,076 in 2021/22), and earned income (£311,814; £231,040 in 2021/22) have again increased in the year and are now recovering back to pre-Covid levels.

Fundraising income of £415,842 (£376,781 in 2021/22) included funds donated to specifically support students and artistic programming.

Total Income
(Restricted and Unrestricted)		 Year Ended July 2023
£000s
%		 Year Ended July 2022
£000s
%
Grants 4,578 61% 3,198 43%
Donations and Legacies 416 6% 377 5%
School Fees and Education 3,602 48% 3,299 44%
Performances 276 4% 252 3%
Other Charitable income 127 2% 100 1%
Earned income 312 4% 231 3%
Investments 53 1% 6 0%
Total Income 9,364 100% 7,462 100%

CONTEMPORARY DANCE TRUST LIMITED | ANNUAL REPORT AND FINANCIAL STATEMENTS 2022/23

31

Total expenditure in 2022/23 was £8,632,580 (£7,586,779 in 2021/22), with increases in all areas driven by inflationary increases and more activity in all areas of the organisation.

Total Expenditure
(Restricted and Unrestricted)		 Year Ended July 2023
£000s
%		 Year Ended July 2022
£000s
%
Cost of Raising funds
Fundraising 120 2% 107 1%
Premises relating to lettings and grants 598 8% 541 7%
Cost of Charitable Activities
School and Education 4,835 64% 3,809 50%
Theatre Productions 3,079 41% 3,130 41%
Total Expenditure 8,633 100% 7,587 100%

RESERVES

At the end of the financial year, the retained reserves of the charity were as follows:

2022/23
£000s		 2021/22
£000s
Unrestricted Funds 3,452 2,387
Restricted Funds 4,777 4,944
Total Reserves 8,229 7,331

Restricted funds include funds donated for a project to improve the building in 2000, funds raised for educational purposes as well as to fund creative and artistic risks and support ground-breaking initiatives.

Further information concerning the amounts and purposes of the remaining restricted funds are contained within Note 14 of the Financial Statements.

RESERVES POLICY

In accordance with Charity Commission guidance and best practice, The Place maintains reserves in order to provide for contingencies that may arise in the future. This has been particularly necessary given the continuing challenges within the current funding environment and was heightened further throughout the COVID-19 pandemic.

The Board reviewed its reserves policy in September 2022, and it was agreed that it was important that a realistic policy was set based on the five year plan, taking into account uncertainties relating to specialist funding and fee income in Higher Education and the future levels of Arts Council England funding.

To ensure The Place can meet liabilities, if income was to be significantly reduced or delayed and also to allow for appropriate decision making regarding investment and growth during the budget setting process, the policy of a minimum of 2.5 month’s unrestricted expenditure (approx. £1.2m) being retained has been set.

The unrestricted reserves at 31 July 2023 are £3,451,832, which comfortably exceeds this level. Free reserves (unrestricted reserves excluding fixed assets) total £2,651,232 (£1,552,185 in 2022).

While the reserve levels exceed the minimum level set by the reserve policy, they are in line with the budget set for 2022/23 and five year plan projections which show reserves falling over the five year period due to flat income and increasing costs. The level of reserves we are holding at 31 July 2023 will allow us to comfortably maintain the reserves at a level above the minimum requirement for the next three financial years enabling the organisation to respond to any unexpected events and inflationary increases.

CONTEMPORARY DANCE TRUST LIMITED | ANNUAL REPORT AND FINANCIAL STATEMENTS 2022/23

32

GOING CONCERN

The activities of The Place together with the factors likely to affect its future development are set out within this report. The financial position of The Place, its cashflow and its liquidity, are described in the Financial Statements and the supporting notes.

Having made enquiries, the Board of Governors believe that it is appropriate to prepare the financial statements on a going concern basis. The Board consider The Place’s current and forecast cash resources to be sufficient to cover the working capital requirements of the charity for at least 12 months from the date of signing this report and financial statements. Cash flow forecasts are carried out monthly as are budget reviews by senior management and reforecasts take place to allow activity to be adjusted to respond to any unknown variations.

The budgets and forecasts have been prepared recognising future uncertainty of significant funding decisions as well as fixed UK undergraduate student fees along with increasing higher than normal inflation. A number of scenarios were considered by management and budgets have been set reflecting the most certain outcomes.

Having considered these budgets and forecasts, the Board of Governors remain satisfied that it is appropriate to prepare the financial statements on the going concern basis.

PRINCIPAL FUNDING SOURCES

The income of The Place is derived from grants from Arts Council England; grants from the Office for Students; grants from the Department for Education through the Music and Dance Scheme; grants from regional funding bodies; and sponsorship, grants and donations from trusts, companies and private individuals.

Income is also derived from student fees paid to London Contemporary Dance School; performances in our theatre; running courses and classes in dance; and letting space in our premises to other bodies engaged in the arts and consultation services.

INVESTMENT

As at 31 July 2023 The Place held an investment comprising of 6,431 units in a unit trust (6,263 units in 2022) with a market value of £181,852 (£182,973 in 2022).

The investment is managed by McInroy and Wood and held within their income fund.

The investment objective of the Income Fund is to preserve and to grow the real value of investors’ capital and income, with an emphasis on the generation of income. All income received is reinvested into the unit trust.

The fund was initially set up with money received from a legacy donation made in support of postgraduate students and a capital donation made in support of artistic commissions. Income and gains earned in the year are allocated to the restricted Student’s Hardship Fund and Pioneering Fund.

DATA QUALITY

The Place is required to operate in accordance with the guidance of Office for Students on the management of data.

In 2022/23 Kingston City Group (KCG), a specialist risk assessment and internal auditor to the Higher Education sector in England, conducted their annual review focusing on areas highlighted and prioritized by the Audit Committee.

The Audit Committee oversees the adequacy and effectiveness of The Place’s arrangements for the management and assurance of data submitted to the Office for Students, the Student Loan Company, the Higher Education Statistics Agency and other bodies. The Board has overall responsibility for the fulfilment of the legal and regulatory obligations.

CONTEMPORARY DANCE TRUST LIMITED | ANNUAL REPORT AND FINANCIAL STATEMENTS 2022/23

33

FUNDRAISING

As a registered charity, The Place seeks support from statutory organisations, trusts and foundations, individuals and companies in a variety of ways ranging from small online donations, through to significant restricted grants and partnerships. We communicate with supporters and potential supporters through email, telephone and by post, where we have permission to do so. We do not cold-call or collect money in the street. We have a dedicated team of fundraisers who work directly with supporters and potential supporters to raise funds for our work, and we do not currently work with any third-party or professional fundraisers. We respect the privacy of the individuals we have relationships with and never swap details without explicit permission. We never put pressure on individuals to donate.

The Place is registered with the Fundraising Regulator and has subscribed to its Fundraising Code of Practice. Our Board has overall responsibility for our fundraising strategies and plans. Our designated Data Protection Officer has overall responsibility for ensuring that The Place complies with the requirements of the relevant data protection legislation. We received no complaints about our fundraising practices in 2022/23 (nor in 2021/22).

The Board take their responsibilities under the Charities (Protection and Social Investment) Act 2016 seriously and have considered the implications on our fundraising activities.

MEMBERSHIP

The introduction of our Membership scheme in 2021 marked an exciting step in fostering a stronger connection with our community and inviting individuals to commit to support us. We are thrilled to have received the trust of a number of individuals during the first two years of this scheme, with a 30% growth in numbers this year alongside a renewal rate of almost 100%. We have been delighted to have been able to welcome many of our members to The Place, whether it was in the theatre, or studios or for an event, for more than one occasion over the last year and look forward to doing so again next year.

CONTEMPORARY DANCE TRUST LIMITED | ANNUAL REPORT AND FINANCIAL STATEMENTS 2022/23

34

OUR HEARTFELT THANKS

We would like to take this opportunity to thank every single person and organisation that has supported The Place in 2022/23. Our supporters are an integral part of The Place’s journey, and every contribution helps us to enable dance artists to unlock their potential, support the creation of new work and give the widest possible access to opportunities for everyone to enjoy dance, regardless of age, background or experience. Thank you.

While it is not possible to mention each supporter here, we wish to give special recognition to those whose contributions exceeded £5,000:

Cockayne – Grants for the Arts Esmée Fairbairn Foundation John Ellerman Foundation John Lyon’s Charity Lord Marks of Broughton Phoenix Court Works The Headley Trust The Leverhulme Trust The Taylor Family Foundation The South Square Trust John G Stewart and Margaret Ford Anthony Van Laast CBE

PATRONS

We are extremely fortunate to have a loyal group of Patrons who support our work, primarily through advocacy, fundraising, lobbying and student engagement. We are truly grateful for the ongoing support of this noteworthy group.

2022/23 Patrons:

Farooq Chaudhry OBE Paloma Faith Blomfield Bonnie Greer OBE Lord Hall of Birkenhead CBE Dr Haruhisa Handa Sir Tim Lankester Wayne McGregor CBE Kenneth Olumuyiwa Tharp CBE Lord and Lady Russell of Liverpool Anthony Van Laast CBE

CONTEMPORARY DANCE TRUST LIMITED | ANNUAL REPORT AND FINANCIAL STATEMENTS 2022/23

35

CORPORATE GOVERNANCE AND INTERNAL CONTROL

CHARITABLE OBVECTIVES

PRINCIPAL OBVECTIVES AND ACTIVITY OF THE CHARITY

CONTEMPORARY DANCE TRUST LIMITED | ANNUAL REPORT AND FINANCIAL STATEMENTS 2022/23

36

LEGAL STRUCTURE

The Place, a company limited by guarantee (company number: 883094), is governed as described in the Articles of Association and is a charity registered in England and Wales (charity number: 250216). The Board of Governors are the directors for the purposes of company law and charity trustees for the purpose of charity law. All Governors are non-executive and considered to be independent.

Following a successful application for the period 2023-26, The Place continues to be a National Portfolio Organisation for Arts Council England. The Place Business Plan has been created in accordance with the Arts Council England Let’s Create Strategy, and with the four new Investment Principles, Ambition and Quality, Dynamism, Inclusivity and Relevance, and Environmental Responsibility.

Since 9 June 2022, The Place has been a Higher Education Provider directly registered with the Office for Students and reports directly to the OfS regarding all ongoing conditions of registration.

The final students to graduate with University of Kent as the awarding institution are the undergraduate class of 2022/23 with their ceremony scheduled to take place at Rochester Cathedral in November 2023. A new validation partnership with University of the Arts London (UAL) began in the 2021/22 academic year, and our first cohort of postgraduate students graduated with UAL in July 2023 at the Royal Festival Hall at Southbank Centre. Our first undergraduate cohort will graduate with UAL as the awarding institution next year.

CONTEMPORARY DANCE TRUST LIMITED | ANNUAL REPORT AND FINANCIAL STATEMENTS 2022/23

37

RESPONSIBILITIES AND DELEGATED AUTHORITY

The primary responsibility for The Place is vested in the Board of Governors, in accordance with the Articles of Association. Governors:

The Board meets at least four times a year to monitor the operations of The Place. The Board delegates specific authority to committees as determined in the approved Scheme of Delegation and each committee’s Terms of Reference. To aid transparency, key governing documents including Terms of Reference for all committees, are made publicly available on The Place’s website.

Each Committee (other than the Academic Board) is chaired by an independent board member. The committees comprise

In addition, effective use has been made of smaller Board Working Groups, established to address specific issues, enabling rapid decision making. In 2022/23 this has included a Capital Working Group, established to provide strategic oversight of planned or proposed future capital developments.

The Head of Governance works closely with the Chief Executive, the Chair, the Vice Chair and the Committee Chairs to provide effective administrative support and advice, ensuring the Board and Committees are properly constituted and that information is managed in accordance with legal requirements, including maintaining a corporate workplan and register of Board of Governors’ interests. Governors’ attendance at The Board and at its committees is indicated in the table on page 41.

Day to day management of The Place has been delegated to the Chief Executive, Clare Connor. Clare is the designated Accountable Officer for (and reports to) the Office for Students, Department for Education and Arts Council England. As Chief Executive, Clare is also responsible for managing the partnership with the validating institution, the University of the Arts London (UAL). Clare is supported by her Senior Leadership Team comprised of the Chief Financial Officer, the Artistic Director and the Director of Dance Studies.

CONTEMPORARY DANCE TRUST LIMITED | ANNUAL REPORT AND FINANCIAL STATEMENTS 2022/23

38

ANNUAL REMUNERATION STATEMENT

Remuneration of the Chief Executive and other members of the Senior Leadership Team is reviewed annually. In the 12 months to July 2023 the Chief Executive’s (Head of Institution) basic salary was £92,150 (£90,000 in 2021/22) which is 2.67 times the median pay of staff (2.78 in 2021/22). The Chief Executive’s total remuneration was £107,756 including pension (£105,300 in 2021/22), which is 2.95 times the median remuneration of staff (3.25 in 2021/22) (page 57).

The Chief Executive’s performance is reviewed annually through an appraisal. The Chief Executive’s remuneration is considered fair in consideration of the hybrid nature of The Place as both an arts organisation and a higher education provider. In comparison to other small and specialist Higher Education Providers in London it is below average. Due regard is given to good practice as set out in relevant guidance, including the Committee of University Chairs Higher Education Senior Staff Remuneration Code.

In relation to income derived from external sources, The Place’s Secondary Employment Policy states that where the work is related to a staff member’s role at The Place and occurring in normal working time, any income should be received directly by The Place.

The Remuneration Committee is required to approve any individual changes in remuneration that represent more than a 5% increase in salary rate unless the change is required by a statutory requirement.

Non-contractual salary increases for all staff are considered annually by the Remuneration Committee. The principal factors that are considered are affordability, inflation and relevant industry guidelines. In autumn 2022, The Place participated in a benchmarking exercise run by pay and reward consultants, QCG, consisting of 27 arts organisations and this informed relevant salary adjustments.

As of August 2022, all permanent staff and trainees were paid at least to the London Living Wage. A change to the structure of our casual teams meant we were also able to move all casual staff to the London Living Wage from 1 December 2022.

In August 2022 all casual and permanent staff received a 2% increase (1% in 2021/22). Following internal and external benchmarking, a further increase of on average 6% was paid to all permanent staff in November 2022. In December 2022 all staff received a one-off cost of living payment.

An increase of 5% was agreed for all salaries and hourly rates from 1 August 2023.

Governors are not remunerated but are entitled to recover expenses as outlined in the notes to the Financial Statements. In 2022/23 £0 was paid to Governors in expenses (£0 in 2021/22).

CONTEMPORARY DANCE TRUST LIMITED | ANNUAL REPORT AND FINANCIAL STATEMENTS 2022/23

39

RETIREMENTS FROM AND APPOINTMENTS TO THE BOARD OF GOVERNORS

GOVERNOR INDUCTION

CONTEMPORARY DANCE TRUST LIMITED | ANNUAL REPORT AND FINANCIAL STATEMENTS 2022/23

40

GOVERNOR ATTENDANCE AT COMMITTEE MEETINGS (1 AUGUST 2022 – 31 JULY 2023)
Board
(includes
Away Day)		 Audit Equality,
Diversity &
Inclusion		 Finance &
General
Purposes		 Nominations Remuneration
Committee
Alan Bishop
(Chair)		 4/4 3/4 2/2 2/3
Jane Alexander
(Vice Chair)		 3/4 3/3 2/2
Michael ‘Mikey J’
Asante		 2/4 3/3
Lisa Baglin* 1/1 1/1 Observer 1/1
Helen Bailey* 2/2
David Blackburn* 2/2 0/1 0/1
Derek Hicks 3/4
Shaparak Rahimi 4/4 4/4 3/3
Chris Rowland 4/4 3/3 Observer 4/4
Eva Sarma*** 4/4 2/3 1/2 Observer
John G Stewart**** 4/4 2/3 1/1 Observer 2/2
Elizabeth Varley 3/4 4/4 3/3
Catherine Ward 4/4 3/3 2/4 2/2 2/3
Liz Wilson 3/4 3/3
Rosalind Wynn 3/4 2/3

CONTEMPORARY DANCE TRUST LIMITED | ANNUAL REPORT AND FINANCIAL STATEMENTS 2022/23

41

THE PLACE KEY RISKS AND MITIGATIONS
Key Risk Timeframe
 Mitigation
High inflation and the
cost of living is affecting
our costs including
salaries and makes
living in London
increasingly prohibitive
for students		 Short to
medium
term		 Careful monitoring of budgets and prudent budget setting and contingency for
unplanned increase.
Created a five-year plan with capacity to pay staff increases.
Working with development team to raise funds for student hardship.
Student Recruitment
not sufficient to secure
a three form entry
and overseas intake,
necessary to help
mitigate standstill UK
student fee income		 On-going Head of Widening Participation and Recruitment working in collaboration with
the marketing and school management team to maximise recruitment options.
Implementation and review of Student Recruitment strategy.
Sustained efforts to manage and develop effective partnerships with feeder
schools, including HE for PG.
Pilot LCDS short courses spring 2023 to attract mature students alongside
postgraduate provision
Insufficient space in
our building impacting
our ability to increase
revenues		 Medium to
long term		 Hire of external space for 2023/24 and review of options for more space for
following years to accommodate growth plans.
Reputational risk of
working with artists
and individuals whose
behaviours do not
align with our values
(past and present)		 On-going Ensure due diligence as part of the recruitment process.
Contracts are issued in a timely manner.
Risk registers shared across team and monitored quarterly.
In the event of a complaint, implement investigation/complaints/grievance
procedures as appropriate.
Use communications crisis playbook to manage internal as well as public
communication as appropriate.
Maintain organisation risk register for relevant staff, Board and inform stakeholders.
Annual Review of complaints added to Audit Terms of Reference to review trends.
Malware; Ransomware;
Virus attack		 On-going IT managed services are outsourced to ensure best practice is adopted.
Email activity monitored, Virus software in place and cyber security training for
all staff in place.
Cyber security review planned with a new outsourced IT provider.

CONTEMPORARY DANCE TRUST LIMITED | ANNUAL REPORT AND FINANCIAL STATEMENTS 2022/23

42

RISK MANAGEMENT

The Board recognises that the identifying and managing of risk assists the organisation in achieving its objectives. The following processes have been established in respect of risk management:

The schedule of business provides for risk management and internal control to be considered on a regular basis during the year. Risk management has been incorporated fully into the corporate planning and decision-making processes of the organisation.

The Board receives periodic reports from the Audit Committee concerning internal control and regular reports are received from managers on the steps they are taking to manage risks in their areas of responsibility, including progress reports on key projects.

CONTEMPORARY DANCE TRUST LIMITED | ANNUAL REPORT AND FINANCIAL STATEMENTS 2022/23

43

INTERNAL CONTROL

The Board of Governors acknowledges that it is responsible for ensuring that a sound system of internal control, supporting the achievement of policies, aims and objectives, while safeguarding the public and other funds and assets of the organisation is maintained and confirms that it has reviewed the effectiveness of these arrangements. The system of internal control is designed to manage rather than eliminate the risk of failure to achieve policies, aims and objectives. It can only provide reasonable and not absolute assurance of effectiveness.

The Board of Governors has taken reasonable steps in the period 1 August 2022 to the date of signing these financial statements to:

The key elements of The Place’s system of internal control, which is designed to discharge the responsibilities set out above, i nclude the following:

CONTEMPORARY DANCE TRUST LIMITED | ANNUAL REPORT AND FINANCIAL STATEMENTS 2022/23

44

STATEMENT OF RESPONSIBILITIES OF THE BOARD OF GOVERNORS

The Governors are responsible for preparing the report of the Governors and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Board of Governors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company at the end of the financial year and of the incoming resources and application of resources, including income and expenditure, of the charitable company for that year. In preparing these financial statements, the Governors are required to:

The Governors 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. They 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.

In so far as the Governors are aware:

The Report of the Board of Governors, incorporating the Strategic Report, was approved by the Board on 22 November 2023.

Signed on behalf of the Board of Governors by Alan Bishop , Chair

22 November 2023

Date

CONTEMPORARY DANCE TRUST LIMITED | ANNUAL REPORT AND FINANCIAL STATEMENTS 2022/23

45

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS

OPINION

We have audited the financial statements of Contemporary Dance Trust Limited (operating as The Place) for the year ended 31 July 2023 which comprise the statement of financial activities, the balance sheet, the cash flow statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

BASIS FOR OPINION

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

CONCLUSIONS RELATING TO GOING CONCERN

In auditing the financial statements, we have concluded that the Governors’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Governors with respect to going concern are described in the relevant sections of this report.

CONTEMPORARY DANCE TRUST LIMITED | ANNUAL REPORT AND FINANCIAL STATEMENTS 2022/23

46

OTHER INFORMATION

The Governors are responsible for the other information. The other information comprises the information included in the Governors’ Report (incorporating the strategic report). Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

OPINIONS ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 2006

In our opinion, based on the work undertaken in the course of the audit:

MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Governors’ Report (which incorporates the strategic report and directors’ report).

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

MATTERS ON WHICH WE ARE REQUIRED TO REPORT IN RESPECT OF THE OFFICE FOR STUDENTS

In our opinion, in all material respects:

We have nothing to report in respect of the following matter in relation to which the Office for Students requires us to report where:

CONTEMPORARY DANCE TRUST LIMITED | ANNUAL REPORT AND FINANCIAL STATEMENTS 2022/23

47

RESPONSIBILITIES OF GOVERNORS FOR THE FINANCIAL STATEMENTS

As explained more fully in the Statement of Governors’ Responsibilities statement set out on page 45, the Governors (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Governors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Governors are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Governors either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

AUDITOR’S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the charitable company and the environment in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to the regulatory requirements of the Office for Students and the Charity Commission, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006 and the Charities Act 2011.

We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to the potential for management to post inappropriate journal entries and to manipulate accounting estimates. Audit procedures performed by the engagement team included:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

CONTEMPORARY DANCE TRUST LIMITED | ANNUAL REPORT AND FINANCIAL STATEMENTS 2022/23

48

USE OF OUR REPORT

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

29 November 2023 Richard Weaver Date Senior Statutory Auditor For and on behalf of Haysmacintyre LLP, Statutory Auditors 10 Queen Street Place London EC4R 1AG

CONTEMPORARY DANCE TRUST LIMITED | ANNUAL REPORT AND FINANCIAL STATEMENTS 2022/23

49

FINANCIAL STATEMENTS

STATEMENT OF FINANCIAL ACTIVITIES

(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 JULY 2023
Notes Unrestricted
Funds
£		 Restricted
Funds
£		 Total
2023
£		 Total
2022
£
Income from:
Donations and legacies 2 140,350 275,492 415,842 376,781
Charitable activities
Grants 3 2,357,698 2,220,059 4,577,757 3,197,835
School fees and education 4 3,602,318 - 3,602,318 3,299,076
Performances 275,586 - 275,586 251,815
Other 127,410 - 127,410 99,543
Other trading activities
Lettings 248,845 - 248,845 190,493
Other 62,969 - 62,969 40,547
Investments 49,184 3,975 53,159 5,595
Total income 6,864,360 2,499,526 9,363,886 7,461,685
Expenditure on:
Raising funds
Donations and sponsorships 119,882 - 119,882 106,637
Costs of premises maintenance
relating to lettings and grants		 359,769 238,725 598,494 540,887
479,651 238,725 718,376 647,524
Charitable activities
School and education 8 4,599,857 235,005 4,834,862 3,808,914
Theatre productions 891,500 2,187,842 3,079,342 3,130,341
5,491,357 2,422,847 7,914,204 6,939,255
Total expenditure 5 5,971,008 2,661,572 8,632,580 7,586,779
Net income/(expenditure) before
investment loss		 893,352 (162,046) 731,306 (125,094)
Net gain on investments - (5,096) (5,096) 4,138
Net income/(expenditure) 893,352 (167,142) 726,210 (120,956)
Taxation 14 171,822 - 171,822 132,368
Net income/(expenditure) and net movement
movement in funds for the year after taxation		 1,065,174 (167,142) 898,032 11,412
Transfer of Funds - - - -
Net movement in funds 1,065,174 (167,142) 898,032 11,412
Total funds at 1 August 2022 2,386,658 4,944,552 7,331,210 7,319,798
Total funds at 31 July 2023 14 3,451,832 4,777,410 8,229,242 7,331,210
There were no recognised gains or losses other t han those reflected above.
The notes on pages 53 to 65 form part of these fi nancial st atements.

CONTEMPORARY DANCE TRUST LIMITED | ANNUAL REPORT AND FINANCIAL STATEMENTS 2022/23

50

BALANCE SHEET AS AT 31 JULY 2023

BALANCE SHEETAS AT 31 JULY 2023
Notes 2023
£		 2022
£
Fixed assets
Tangible assets 9 5,288,557 5,521,431
Intangible assets 9 131,730 157,533
Investments 10 1,701,155 182,973
Total fixed assets 7,121,442 5,861,937
Current assets
Debtors 11 676,812 593,500
Cash at bank and in hand 1,614,166 2,004,377
Total current assets 2,290,978 2,597,877
Liabilities
Creditors: amounts falling due within one year 12 1,183,178 1,128,604
Total current liabilities 1,183,178 1,128,604
Net current assets 1,107,800 1,469,273
Creditors: amounts falling due in more
than one year		 12 -
-		 -
-
Net assets 8,229,242 7,331,210
Financed by:
Income Funds
Restricted 14 4,777,410 4,944,552
Unrestricted 14 3,451,832 2,386,658
8,229,242 7,331,210
Total charity funds 8,229,242 7,331,210

The notes on pages 53 to 65 form part of these financial statements.

Approved and authorised for issue by the Board of Governors on 22 November, 2023 and signed on its behalf by

Alan Bishop Chair, The Place

Clare Connor Chief Executive, The Place

CONTEMPORARY DANCE TRUST LIMITED. A COMPANY LIMITED BY GUARANTEE.

Company Number: 883094 Charity Number: 250216

CONTEMPORARY DANCE TRUST LIMITED | ANNUAL REPORT AND FINANCIAL STATEMENTS 2022/23

51

CASH FLOW STATEMENT FOR THE YEAR ENDED 31 JULY 2023

Note 2023 2022
£ £
Net cash inflow from operating activities 1 1,170,113 584,029
Cash flows from Investing activities
Bank interest 49,184 1,388
Investment in bank deposit (1,500,000) -
Purchase of tangible fixed assets (109,508) (78,984)
Purchase of intangible fixed assets - (13,060)
Cash outflow from investing activities (1,560,324) (90,656)
Increase/(decrease) in cash and cash equivalent in the year (390,211) 493,373
Cash and cash equivalents at the beginning of the year 2,004,377 1,511,004
Cash and cash equivalents at the end of the year 1,614,166 2,004,377

Notes to the Cash flow statement

Reconciliation of net incoming resources to net cash flow from operating activities Reconciliation of net incoming resources to net cash flow from operating activities Reconciliation of net incoming resources to net cash flow from operating activities
Net movement in funds 898,032 11,412
Depreciation charges 368,185 369,581
Bank interest (49,184) (1,388)
Investment income (23,278) (4,207)
(Increase)/decrease in fair value of investments 5,096 (4,138)
(Increase)/decrease in debtors (83,312) 81,807
Increase/(decrease) in creditors 54,574 130,962
Net cash inflow from operating activities 1,170,113 584,029

The notes on pages 53 to 65 form part of these financial statements.

CONTEMPORARY DANCE TRUST LIMITED | ANNUAL REPORT AND FINANCIAL STATEMENTS 2022/23

52

NOTES TO THE FINANCIAL STATEMENTS

1. ACCOUNTING POLICIES

BASIS OF PREPARATION

The financial statements are prepared in accordance with 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 (Charities SORP (FRS 102), second edition effective from 1 January 2019); the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102); the Companies Act 2006; and the Accounts Direction issued by the Office for Students (OfS). Contemporary Dance Trust Limited (“The Place”) 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 note(s).

Having made due enquiries, the Board of Governors (the Board) believes that it is appropriate to prepare the financial statements on a going concern basis. This view is based on the review of the reserves position referred to in the Financial Review section of the Annual Report, and also an examination of the budget for the current year and the business plan and forecast cashflows for future years.

The preparation of the financial statements in accordance with FRS 102 requires the Board to make estimates and assumptions concerning the future. The estimates and assumptions that could have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year include accruals, depreciation, revenue recognition and debtor recovery. Accounting in these areas requires management to use judgement. In relation to accruals this is with regards to a best estimate of costs that will be incurred based on contractual requirements. For depreciation these estimates are driven by the useful economic life of the associated assets. For revenue recognition management apply judgements in concluding on the point at which revenue shouldbe recognised. Debtors are provided for when it is more likely than not that the payment will not be received.

TANGIBLE FIXED ASSETS AND DEPRECIATION

All assets costing more than £750 are capitalised at historical cost and stated at cost less depreciation. Assets with a value of less than £750 are written off in the financial statements in the year of purchase.

No depreciation is provided on freehold land.

Depreciation is provided on freehold buildings at a rate calculated to write off this cost over fifty years on a straightline basis. Capital expenditure on building improvement is written off over ten years.

Furniture, IT hardware and equipment assets are depreciated over a three-year period.

INTANGIBLE FIXED ASSETS

Major IT systems and software development are classed as intangible fixed assets and are depreciated over a tenyear period.

FIXED ASSET INVESTMENTS

Investments are a form of financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The Statement of Financial Activities (SOFA) includes the net gains and losses arising on revaluation and disposals throughout the year.

CASH AT BANK AND IN HAND

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

CONTEMPORARY DANCE TRUST LIMITED | ANNUAL REPORT AND FINANCIAL STATEMENTS 2022/23

53

INCOME

All income is recognised once the charity has entitlement to the income, when it is more likely than not that the income will be received, and the amount of the income receivable can be measured reliably.

Grants and donations are, where appropriate, brought into the financial statements in the year in which they are receivable.

Donated services and facilities are recognised when received, based on the estimated value of the donation to the charity. An equivalent amount of expenditure is also recognised.

GRANTS PAYABLE

Grants payable are recognised in the financial statements in the year in which they are paid.

EXPENDITURE

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required, and the amount of the obligation can be measured reliably. All expenses including support costs and governance costs are allocated or apportioned to the applicable expenditure headings. Irrecoverable Value Added Tax (VAT) is charged as a cost against the activity for which the expenditure was incurred.

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include administration, finance, premises and communications departments, which support The Place’s artistic programmes and educational activities. Support costs are allocated based on space used, to fairly recognise the demands on the building and support costs.

Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice.

TAXATION

Contemporary Dance Trust Limited is a charity registered in England and Wales and is not liable to United Kingdom income tax or corporation tax on its charitable activities. The charity claims theatre tax relief in respect of its productions, the benefit of which is recorded in the SOFA. The charity is unable to recover all of its Value Added Tax (see note 7).

FOREIGN CURRENCIES

Assets and liabilities in foreign currencies are translated into sterling at the rate of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated at the rate ruling in the month the transaction takes place. All differences are taken to the SOFA.

PENSION FUNDING

The charity has a stakeholder pension scheme in place for all staff, which makes provision for an employer contribution. The annual cost of the pension scheme is charged to the SOFA.

FUND ACCOUNTING

Restricted funds are created where a donor specifies the intended future use of their donation. These are spent in accordance with the donor’s wishes. Unrestricted funds are available for use at the discretion of the Board in furtherance of the general objects of the charity.

FINANCIAL INSTRUMENTS

Basic financial assets, including trade and other receivables, cash and bank balances, are recognised at the transaction price less any provision for non-recoverability. Investments, which are a form of financial instrument, are initially recognised at their transaction value and subsequently at fair value as explained above. Basic financial liabilities, including trade and other payable, are recognised at the transaction price.

CONTEMPORARY DANCE TRUST LIMITED | ANNUAL REPORT AND FINANCIAL STATEMENTS 2022/23

54

2. INCOME FROM DONATIONS AND LEGACIES
Unrestricted
Funds
£		 Restricted
Funds
£		 Total
2023
£		 Unrestricted
Funds
£		 Restricted
Funds
£		 Total
2022
£
Donations and legacies 63,791 275,492 339,283 64,261 233,605 297,866
Donated services 76,559 - 76,559 78,915 - 78,915
Total 140,350 275,492 415,842 143,176 233,605 376,781

3. GRANT AND FUNDRAISING INCOME
Unrestricted
2023
£		 Restricted
2023
£		 Total funds
2023
£		 Unrestricted
2022
£		 Restricted
2022
£		 Total funds
2022
£
Grant Income
Office for Students 1,787,475 39,422 1,826,897 - - -
Arts Council England Grant - 1,827,000 1,827,000 - 1,826,992 1,826,992
Arts Council England
Other Grants		 - 178,151 178,151 - 5,000 5,000
Department for Education Grant 263,557 - 263,557 275,884 - 275,884
Conservatoire for Dance
and Drama		 271,008 - 271,008 961,281 5,000 966,281
Other Grants and Fundraising 35,658 35,486 71,144 - 123,678 123,678
Esmée Fairbairn Foundation - 140,000 140,000 - - -
Total 2,357,698 2,220,059 4,577,757 1,237,165 1,960,670 3,197,835
4. FEE INCOME BREAKDOWN
2023 2022
£ £
UK Undergraduates 1,291,755 1,245,513
Overseas Undergraduates 1,091,750 939,824
UK Postgraduates 69,483 79,530
Overseas Postgraduates 219,610 168,604
Part-time students - 44,540
Short classes and courses 429,766 325,592
Centre for Advanced Training 499,954 489,023
Other fee income (including Audition fees) - 6,450
Total paid by or on behalf of individual students 3,602,318 3,299,076

CONTEMPORARY DANCE TRUST LIMITED | ANNUAL REPORT AND FINANCIAL STATEMENTS 2022/23

55

5. EXPENDITURE

5. EXPENDITURE
Staff costs
£		 Other direct
costs
£		 Support
costs
£		 Allocation of
other costs
£		 Total
2023
£
Raising funds
Donations and sponsorships 114,412 5,470 - - 119,882
Costs of premises maintenance relating
to lettings		 307,391 238,725 52,378 - 598,494
421,803 244,195 52,378 - 718,376
Charitable activities
School and education 1,845,854 1,024,215 250,223 1,714,570 4,834,862
Theatre productions 1,155,883 987,097 53,099 883,263 3,079,342
Other costs of premises maintenance 1,090,238 1,507,595 - (2,597,833) -
4,091,975 3,518,907 303,322 - 7,914,204
Total expenditure 4,513,778 3,763,102 355,700 - 8,632,580

Prior Year Comparative - Expenditure 2021/22
Staff costs
£		 Other direct
costs
£		 Support
costs
£		 Allocation of
other costs
£		 Total
2022
£
Raising funds
Donations and sponsorships 95,594 11,043 - - 106,637
Costs of premises maintenance relating
to lettings		 266,249 244,188 30,450 - 540,887
361,843 255,231 30,450 - 647,524
Charitable activities
School and education 1,632,908 840,700 279,765 1,055,541 3,808,914
Theatre productions 1,073,505 774,531 43,191 1,239,114 3,130,341
Other costs of premises maintenance 1,060,782 1,233,873 - (2,294,655) -
3,767,195 2,849,104 322,956 - 6,939,255
Total expenditure 4,129,038 3,104,335 353,406 - 7,586,779

Other costs of premises maintenance staff cost figure includes support staff costs of £724,831 (£731,053 in 2022).

CONTEMPORARY DANCE TRUST LIMITED | ANNUAL REPORT AND FINANCIAL STATEMENTS 2022/23

56

6. PARTICULARS OF STAFF AND THE COST OF KEY MANAGEMENT PERSONNEL

The average number of employees employed during the year was 275 (2022: 268). This includes full-time and part-time employees and casual staff.

Full time equivalent 2023
No.		 2022
No.
Administration 23 26
Services 11 12
Educational 44 40
Theatre 20 22
Total 98 100
Total staff costs were: £ £
Wages and salaries 3,886,491 3,537,538
Social security costs 322,025 296,902
Other pension costs 226,353 217,701
Total 4,434,869 4,052,141

The key management personnel comprise the Directors

The total employee benefits of the key management personnel were £651,885 (£616,591 in 2022).

During the year the following employees were paid in the following bands:

12 months to July 2023 12 months to July 2022
£60,001 - £70,000 3 2
£70,001 - £80,000 0 0
£80,001 - £90,000 1 1
£90,001 - £100,000 1 0

The Chief Executive (Head of the Institution) was paid:

12 months to July 2023 12 months to July 2022
Salary 92,150 90,000
Pension Contributions 15,606 15,300
Total 107,756 105,300

The Chief Executive’s basic salary is 2.67 (2.78 in 2022) times the median pay of staff, where the median pay is calculated on a fulltime equivalent basis for the salaries paid by the charity to its staff.

The Chief Executive’s total remuneration is 2.95 (3.25 in 2022) times the median total remuneration of staff, where the median total remuneration is calculated on a full-time equivalent basis for the total remuneration paid by the charity to its staff.

CONTEMPORARY DANCE TRUST LIMITED | ANNUAL REPORT AND FINANCIAL STATEMENTS 2022/23

57

7. NET INCOME

7. NET INCOME
2023
£		 2022
£
This is stated after charging:
Depreciation 368,185 369,581
Remuneration:
– Current year audit 39,400 34,000
– Prior year audit - 1,900
– Non-audit services 21,600 12,530
Irrecoverable VAT 198,312 152,666
Total 627,497 570,677

8. ACCESS AND PARTICIPATION EXPENDITURE

8. ACCESS AND PARTICIPATION EXPENDITURE
2023
£		 2022
£
Access Investment 154,323 74,547
Financial Support 100,845 100,365
Support for disabled students 21,216 7,836
Research and Evaluation 15,600 15,300
Total 291,984 198,048

Included in the above are costs of £77,800 (2022: £29,193) relating to staff who were intrinsic to the delivery of the charity’s access and participation activities during the year.

CONTEMPORARY DANCE TRUST LIMITED | ANNUAL REPORT AND FINANCIAL STATEMENTS 2022/23

58

9. TANGIBLE AND INTANGIBLE FIXED ASSETS FOR CHARITY USE
Freehold
land and
buildings
£		 Plant
replacement
and IT
equipment
£		 Furniture
and
equipment
£		 Building
improvements,
fixtures and
fittings
£		 Total
tangible
fixed assets
£
At Cost 31 July 2022 8,766,737 262,619 471,286 862,262 10,362,904 248,037
Additions - 6,688 78,591 24,229 109,508
Disposals - - (12,486) - (12,486)
Transfers - - - - -
At 31 July 2023 8 ,766,737 269,307 537,391 886,491 10,459,926
Depreciation
At Cost 31 July 2022 3,572,361 180,092 431,463 657,557 4,841,473 90,504
Provided this year 170,307 46,025 39,454 86,596 342,382
Depreciation on Disposals - - (12,486) - (12,486)
Transfers - - - - -
At 31 July 2023 3 ,742,668 226,117 458,431 744,153 5,171,369
At 31 July 2022 5,194,376 82,527 39,823 204,705 5,521,431 157,533
At 31 July 2023 5,024,069 43,190 78,960 142,338 5,288,557 131,730

All fixed assets are used for direct charitable purposes.

A deed of covenant signed by the Board in 2014/15 in respect of the capital grant of £581,518 from Arts Council England contracts The Place to register a further charge and not, without written consent of Arts Council England, to assign, transfer or charge the land that is covered by the charge.

With consent from Arts Council England, a debenture was granted to Barclays Bank PLC to secure the overdraft facility of £150,000 in May 2018. This overdraft was further increased to £450,000 in May 2020. In October 2023, the overdraft facility was removed and charge was satisfied.

CONTEMPORARY DANCE TRUST LIMITED | ANNUAL REPORT AND FINANCIAL STATEMENTS 2022/23

59

10. INVESTMENTS

At the year ending 31 July 2022, the charity had one subsidary company, Place Productions Limited. Place Productions Limited has now been dissolved.

Key information relating to Place Productions Limited for the year:

2023
£		 2022
£
Turnover
-		 -
Operating profit (loss)
-		 -
Tax credit on ordinary activities
-		 -
Profit/(Loss) after tax for the year
-		 -
£
Fund Value as at 31 July 2022
182,973
Investment Income: re-invested in fund
3,975
Increase/(decrease in investment value)
(5,096)
Fund Value as at 31 July 2023
181,852
95 day deposit account
1,519,303
Total investment valuation at 31 July 2023
1,701,155
11. DEBTORS
2023 2022
£ £
Trade debtors 166,648 174,329
Other debtors 9,893 6,588
Prepayments and accrued income 500,271 412,583
Total 676,812 593,500

CONTEMPORARY DANCE TRUST LIMITED | ANNUAL REPORT AND FINANCIAL STATEMENTS 2022/23

60

12. CREDITORS

12. CREDITORS
2023
£		 2022
£
Amounts falling due within one year:
Trade creditors 85,379 232,285
Other taxes and social security 100,255 91,688
Accruals and deferred income 997,544 804,631
Total 1,183,178 1,128,604

Deferred income

Deferred income comprises fees receivable in advance

Deferred income comprises fees receivable in advance
2023
£		 2022
£
Opening balance 150,467 96,440
Amount released to income (150,467) (93,945)
Amount deferred in period 182,904 147,972
Closing Balance 182,904 150,467

CONTEMPORARY DANCE TRUST LIMITED | ANNUAL REPORT AND FINANCIAL STATEMENTS 2022/23

61

13. MEMBERS’ GUARANTEES

The charity is a company limited by a guarantee not exceeding £5 per member. The number of members as at 31 July 2023 was 15 (12 in 2022) and the total of such guarantees amounted to £75 (£60 in 2022). The Governors are the members of the charity.

14. FUNDS

a) Fund movements

a) Fund movements
Movements in
Balance as at
31 July 2022
£		 Income/

Investment
gains
£		 Expenditure
£		 Taxation
£		 Transfers
in/(out)
£		 Balance as at
31 July 2023
£
Unrestricted funds 2,386,658 6,864,360 (5,971,008) 171,822 - 3,451,832
Total unrestricted funds 2,386,658 6,864,360 (5,971,008) 171,822 - 3,451,832
Restricted funds
Student Hardship Fund 51,037 226,987 (215,510) - - 62,514
Pioneering Fund 18,647 51,449 (33,050) - - 37,046
Place for the Future 4,826,365 - (238,725) - - 4,587,640
Other Theatre Grants 34,618 211,337 (244,340) - - 1,615
Other Educational Grants 13,885 37,657 (19,495) - - 32,047
Arts Council of England - 1,827,000 (1,827,000) - - -
Rural Touring Dance Initiative - 140,000 (83,452) - - 56,548
Total restricted funds 4,944,552 2,494,430 (2,661,572) - - 4,777,410
TOTAL funds (2023) 7,331,210 9,358,790 (8,632,580) 171,822 - 8,229,242
Movements in
Balance as at
Income/ Expenditure/
Taxation
Transfers Balance as at
31 July 2021
Investment
Investment
in/(out)
31 July 2022
gains
losses
£
£
£
£
£
£
1,953,357
5,261,815
(4,960,882)
132,368
-
2,386,658
1,953,357
5,261,815
(4,960,882)
132,368
-
2,386,658
120,374
184,551
(253,888)
-
-
51,037
11,596
39,551
(32,500)
-
-
18,647
5,070,553
-
(244,188)
-
-
4,826,365
37,299
142,914
(145,595)
-
-
34,618
18,126
5,000
(9,241)
-
-
13,885
108,493
1,831,992
(1,940,485)
-
-
-
5,366,441
2,204,008
(2,625,897)
-
-
4,944,552
7,319,798
7,465,823
(7,586,779)
132,368
-
7,331,210		 Movements in
Balance as at
Income/ Expenditure/
Taxation
Transfers Balance as at
31 July 2021
Investment
Investment
in/(out)
31 July 2022
gains
losses
£
£
£
£
£
£
1,953,357
5,261,815
(4,960,882)
132,368
-
2,386,658
1,953,357
5,261,815
(4,960,882)
132,368
-
2,386,658
120,374
184,551
(253,888)
-
-
51,037
11,596
39,551
(32,500)
-
-
18,647
5,070,553
-
(244,188)
-
-
4,826,365
37,299
142,914
(145,595)
-
-
34,618
18,126
5,000
(9,241)
-
-
13,885
108,493
1,831,992
(1,940,485)
-
-
-
5,366,441
2,204,008
(2,625,897)
-
-
4,944,552
7,319,798
7,465,823
(7,586,779)
132,368
-
7,331,210		 Movements in
Balance as at
Income/ Expenditure/
Taxation
Transfers Balance as at
31 July 2021
Investment
Investment
in/(out)
31 July 2022
gains
losses
£
£
£
£
£
£
1,953,357
5,261,815
(4,960,882)
132,368
-
2,386,658
1,953,357
5,261,815
(4,960,882)
132,368
-
2,386,658
120,374
184,551
(253,888)
-
-
51,037
11,596
39,551
(32,500)
-
-
18,647
5,070,553
-
(244,188)
-
-
4,826,365
37,299
142,914
(145,595)
-
-
34,618
18,126
5,000
(9,241)
-
-
13,885
108,493
1,831,992
(1,940,485)
-
-
-
5,366,441
2,204,008
(2,625,897)
-
-
4,944,552
7,319,798
7,465,823
(7,586,779)
132,368
-
7,331,210		 Movements in
Balance as at
Income/ Expenditure/
Taxation
Transfers Balance as at
31 July 2021
Investment
Investment
in/(out)
31 July 2022
gains
losses
£
£
£
£
£
£
1,953,357
5,261,815
(4,960,882)
132,368
-
2,386,658
1,953,357
5,261,815
(4,960,882)
132,368
-
2,386,658
120,374
184,551
(253,888)
-
-
51,037
11,596
39,551
(32,500)
-
-
18,647
5,070,553
-
(244,188)
-
-
4,826,365
37,299
142,914
(145,595)
-
-
34,618
18,126
5,000
(9,241)
-
-
13,885
108,493
1,831,992
(1,940,485)
-
-
-
5,366,441
2,204,008
(2,625,897)
-
-
4,944,552
7,319,798
7,465,823
(7,586,779)
132,368
-
7,331,210		 Movements in
Balance as at
Income/ Expenditure/
Taxation
Transfers Balance as at
31 July 2021
Investment
Investment
in/(out)
31 July 2022
gains
losses
£
£
£
£
£
£
1,953,357
5,261,815
(4,960,882)
132,368
-
2,386,658
1,953,357
5,261,815
(4,960,882)
132,368
-
2,386,658
120,374
184,551
(253,888)
-
-
51,037
11,596
39,551
(32,500)
-
-
18,647
5,070,553
-
(244,188)
-
-
4,826,365
37,299
142,914
(145,595)
-
-
34,618
18,126
5,000
(9,241)
-
-
13,885
108,493
1,831,992
(1,940,485)
-
-
-
5,366,441
2,204,008
(2,625,897)
-
-
4,944,552
7,319,798
7,465,823
(7,586,779)
132,368
-
7,331,210		 Movements in
Balance as at
Income/ Expenditure/
Taxation
Transfers Balance as at
31 July 2021
Investment
Investment
in/(out)
31 July 2022
gains
losses
£
£
£
£
£
£
1,953,357
5,261,815
(4,960,882)
132,368
-
2,386,658
1,953,357
5,261,815
(4,960,882)
132,368
-
2,386,658
120,374
184,551
(253,888)
-
-
51,037
11,596
39,551
(32,500)
-
-
18,647
5,070,553
-
(244,188)
-
-
4,826,365
37,299
142,914
(145,595)
-
-
34,618
18,126
5,000
(9,241)
-
-
13,885
108,493
1,831,992
(1,940,485)
-
-
-
5,366,441
2,204,008
(2,625,897)
-
-
4,944,552
7,319,798
7,465,823
(7,586,779)
132,368
-
7,331,210		 Movements in
Balance as at
Income/ Expenditure/
Taxation
Transfers Balance as at
31 July 2021
Investment
Investment
in/(out)
31 July 2022
gains
losses
£
£
£
£
£
£
1,953,357
5,261,815
(4,960,882)
132,368
-
2,386,658
1,953,357
5,261,815
(4,960,882)
132,368
-
2,386,658
120,374
184,551
(253,888)
-
-
51,037
11,596
39,551
(32,500)
-
-
18,647
5,070,553
-
(244,188)
-
-
4,826,365
37,299
142,914
(145,595)
-
-
34,618
18,126
5,000
(9,241)
-
-
13,885
108,493
1,831,992
(1,940,485)
-
-
-
5,366,441
2,204,008
(2,625,897)
-
-
4,944,552
7,319,798
7,465,823
(7,586,779)
132,368
-
7,331,210
Movements in
Balance as at
31 July 2021
£		 Income/

Investment
gains
£		 Expenditure/
Investment
losses
£		 Taxation
£		 Transfers
in/(out)
£		 Balance as at
31 July 2022
£
Unrestricted funds 1,953,357 5,261,815 (4,960,882) 132,368 - 2,386,658
Total unrestricted funds 1,953,357 5,261,815 (4,960,882) 132,368 - 2,386,658
Restricted funds
Student Hardship Fund 120,374 184,551 (253,888) - - 51,037
Pioneering Fund 11,596 39,551 (32,500) - - 18,647
Place for the Future 5,070,553 - (244,188) - - 4,826,365
Other Theatre Grants 37,299 142,914 (145,595) - - 34,618
Other Educational Grants 18,126 5,000 (9,241) - - 13,885
Arts Council of England 108,493 1,831,992 (1,940,485) - - -
Total restricted funds 5,366,441 2,204,008 (2,625,897) - - 4,944,552
TOTAL funds (2022) 7,319,798 7,465,823 (7,586,779) 132,368 - 7,331,210

CONTEMPORARY DANCE TRUST LIMITED | ANNUAL REPORT AND FINANCIAL STATEMENTS 2022/23

62

Student Hardship Fund

Funds raised that are to be used for educational purposes are held in this fund. The fund is used to encourage and support current students at the Board’s discretion.

Pioneering Fund

The Pioneering Fund has been established to help provide The Place with the financial resources necessary to allow it to take creative and artistic risks and supportground-breaking initiatives, and to support those ideas which push contemporary dance into previously unexplored territory.

The Place for the Future Fund

This fund represents the income and expenditure on the Lottery and King’s Cross Partnership funded project to undertake the rebuilding and improvement of The Place in 2000 and additional capital works completed with the aid of further grant income. Depreciation is charged against this fund every year.

Other Educational Grants

This fund represents the income and expenditure relating to educational projects for which specific grants have been received.

Arts Council England

This fund represents funding received from the Arts Council England relating to non-school activities which they fund. Included within this are two grants from the ultural Recovery Fund received in 2020/21. These grants have been treated as restricted expenditure for activity and unrestricted for support towards lost income and replenishment of unrestricted reserves.

Rural Touring Dance Initiative

The Rural Dance Touring Initiative is a national dance project working in rural areas funded by Esmée Fairbairn Foundation and Arts Council England over 4.5 years.

b) Analysis of net assets between funds

2023 2023 2023
Unrestricted Funds
£		 Restricted Funds
£		 Total Funds
£
Fund balances at 31 July 2023 are represented by:
Intangible fixed assets 131,730 - 131,730
Tangible fixed assets 668,870 4,619,687 5,288,557
Investments 1,690,246 10,909 1,701,155
Current assets 2,141,747 149,231 2,290,978
Current liabilities (1,183,178) - (1,183,178)
Total 3,451,832 4,777,410 8,229,242
2022
Unrestricted Funds
Restricted Funds
Total Funds
£
£
£
are represented by:
157,533
-
157,533
681,181
4,840,250
5,521,431
151,390
31,583
182,973
2,525,158
72,719
2,597,877
(1,128,604)
-
(1,128,604)
2,386,658
4,944,552
7,331,210		 2022
Unrestricted Funds
Restricted Funds
Total Funds
£
£
£
are represented by:
157,533
-
157,533
681,181
4,840,250
5,521,431
151,390
31,583
182,973
2,525,158
72,719
2,597,877
(1,128,604)
-
(1,128,604)
2,386,658
4,944,552
7,331,210		 2022
Unrestricted Funds
Restricted Funds
Total Funds
£
£
£
are represented by:
157,533
-
157,533
681,181
4,840,250
5,521,431
151,390
31,583
182,973
2,525,158
72,719
2,597,877
(1,128,604)
-
(1,128,604)
2,386,658
4,944,552
7,331,210
2022
Unrestricted Funds
£		 Restricted Funds
£		 Total Funds
£
Fund balances at 31 July 2022
Intangible fixed assets 157,533 - 157,533
Tangible fixed assets 681,181 4,840,250 5,521,431
Investments 151,390 31,583 182,973
Current assets 2,525,158 72,719 2,597,877
Current liabilities (1,128,604) - (1,128,604)
Total 2,386,658 4,944,552 7,331,210

CONTEMPORARY DANCE TRUST LIMITED | ANNUAL REPORT AND FINANCIAL STATEMENTS 2022/23

63

15. OPERATING LEASE COMMITMENTS

2023
£		 2022
£
In 1 year 5,639 5,639
In 2 to 5 years 3,733 9,373
Outstanding Leasing commitments 9,372 15,012

16. RELATED PARTY TRANSACTIONS

CONTEMPORARY DANCE TRUST LIMITED | ANNUAL REPORT AND FINANCIAL STATEMENTS 2022/23

64

16. STATEMENT OF FINANCIAL ACTIVITIES FOR THE PREVIOUS PERIOD (31 JULY 2022)
Notes Unrestricted
Funds
£		 Restricted
Funds
£		 Total
2022
£		 Total
2021
£
Income from:
Donations and legacies 2 143,176 233,605 376,781 320,403
Charitable activities
Grants 3 1,237,165 1,960,670 3,197,835 4,111,899
School fees and education 4 3,299,076 - 3,299,076 2,703,778
Performances 251,815 - 251,815 117,930
Other 99,543 - 99,543 48,422
Other trading activities
Lettings 190,493 - 190,493 47,246
Other 40,547 - 40,547 -
Investments - 5,595 5,595 3,951
Total income 5,261,815 2,199,870 7,461,685 7,353,629
Expenditure on:
Raising funds
Donations and sponsorships 106,637 - 106,637 104,824
Costs of premises maintenance
relating to lettings and grants		 296,699 244,188 540,887 430,286
403,336 244,188 647,524 535,110
Charitable activities
School and education 3,545,785 263,129 3,808,914 3,747,511
Theatre productions 1,011,761 2,118,580 3,130,341 2,490,760
4,557,546 2,381,709 6,939,255 6,238,271
Total expenditure 5 4,960,882 2,625,897 7,586,779 6,773,381
Net expenditure before investment loss 300,933 (426,027) (125,094) 580,248
Net loss on investments - 4,138 4,138 15,297
Net expenditure 300,933 (421,889) (120,956) 595,545
Taxation 13 132,368 - 132,368 71,538
Net expenditure and net movement in funds
for the year after taxation		 433,301 (421,889) 11,412 667,083
Transfer of Funds - - - -
Net movement in funds 433,301 (421,889) 11,412 667,083
Total funds at 1 August 2021 1,953,357 5,366,441 7,319,798 6,652,715
Total funds at 31 July 2022 13 2,386,658 4,944,552 7,331,210 7,319,798

CONTEMPORARY DANCE TRUST LIMITED | ANNUAL REPORT AND FINANCIAL STATEMENTS 2022/23

65

CONTEMPORARY DANCE TRUST LIMITED. A COMPANY LIMITED BY GUARANTEE.

Company Number: 883094 Charity Number: 250216