Charity registration number 269068
Company registration number 1195345 (England and Wales)
WELSH DANCE THEATRE TRUST LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

WELSH DANCE THEATRE TRUST LIMITED
CONTENTS
Page
Chaimian's statement
Trustees. report
2-10
Statement of trustees, responsibilities
11
Independent examiner's report
12
Stslemenl of financial a¢livilies
13
Balance sheet
14
Statement of cash flows
Notes to the financial statements
16-32

WELSH DANCE THEATRE TRUST LIMITED
CHAIRMAN'S STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024
Chalr's Report
Annwyl Cyfaill, Dear Reader
With this document, we present to you our annual report for the year 2023124.
Our previous report highlighted the crisis that Vvelsh Dan￿ Theatre Trust Limited IRubiconl had sustained along
with the summary investigation and our plans for remedial action. This year has very much been fOcU￿d on
creating a strong foundation and implementing a clear structure lo enable Rubicon to recover and grow. Specifically..
Key recrultment - We secured funding via the Arts Council of Wales lo appoint an interim CEO. This
appointment was vital as rt has provided the organisalion ¥Mth daily leadership and strategic focus.
Fundraising strategy - We have focussed our fundraising efforts into areas and seen success in both..
large strategic bids including Arts Council of Wales, Garfield Weston Foundation, Moondance and the
National Lottery,. and community fundraising including donations from local businesses, raffles and cake
sales.
Governance..
Vve have reviewed 8nLY communicated many of our polices & procedures lo make sure they are up lo
date, fil for purpose and embedded within the organisation. These have included topics such as
absence and support, time off in lieu, travel, and disciplinary procedures.
We have appointed a Chief Executive, initially on a one-year fixed term contract lo focus on a
reorganisation and establishing a secure future for the charity.
We plan to outsource our finance function to provide greater resilience, expertise and visibility on our
accounts.
We have established a more robust Risk Register which is reviewed regularly by the CEO and Board.
Vve have created an action tracker to record all key decisions made as a board and the CEO. The
tracker also enables us to monitor progress, agree timelines and assign owners lo ensure key activf(ies
are progressed.
Trustee recrultment - We have been refreshing our board of trustees, with four stepping down and being
replaced, reinvigorating the board and providing valuable skills and expertise.
The essence of who we are and what we do is unchanged and we have updated our strategy for 3 years, starting in
April 2024, and refreshed the business plan, reflecting what we do well and identify areas for growth so that we can
rebuild effectively. There are many things that we still need lo address bul with key building blocks in place lo
capilalise on the potential of the organisats"on, we are excited about what's to come.
With this report, we want lo present lo you what we have achieved and what our plans are for the future. We are so
very proud of the progress we have made in building a stable and secure future for Rubicon.
Yr eiddoch yn wir,
Gemma Barnett
Chair
Novernber 2024

WELSH DANCE THEATRE TRUST LIMITED
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 31 MARCH 2024
The trustees present their annual report and financial statements for the year ended 31 March 2024.
The financial statements have been prepared in accordan￿ with the accounting policies set OLJt in note 1 to the
financial statements and comply with the charitls governing document, the Companies Act 2006 and
"Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing
their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
IFRS 1021 (effective 1 January 20191"
Objectives and activities
Who we are
The charitable objects of Welsh Dance Theatre Trust trading as Rubicon Dance are..
For the benefit of the public, lo foster, promote, and increase the interest of the public in the knowledge,
understanding and praclice of dancing (including but not restricted lo contemporary dance, community dance,
and other modem dance forms) and to promote, assist and provide facilities for presentations of such dancing
and training of dancers and choreographers.
Our vision is an inclusive, vibrant and diverse Wales in which anyone anywhere can experience the joys and
benefits of dancing, lo their full potential and aspiration. In this world, we are a key collaborator with other
organisalions, uplifting and celebrating the successes of others as much as our own.
Our community work brings engaging, safe, inclusive and inspiring opportunities for dancing and movement to
people in Cardiff and South Wales, especially those who may face barriers to dance.
Through our education and career work, we provide excellent dance education, career progression routes and
skill developrnenl for aspiring and existing professionals.
Our valutrs and behaviours ar& inspi￿d by community dance pra¢ti¢e1 and reflected throughout our work-
Collaboration". nurturing work with and between others, doing with them instead of to them
Creativity.. enabling selfexpression and imagination
InclLJsion'. bringing together difference by actively seeking to redu￿ barriers and enable access
Care.. providing a safe and supportive environment
QLJality'. delivering to highest possible stsndards
1 Professional code of conduct of communit dance by People Dancing
Our charitable activitias
To fulfil our purpose, we undertake activities in three main programmes..
Community Dance
In this programme, we engage with communities
in general, but also in specific settings such as schools,
hospitals and elsewhere
to enable them to dance. We nurture participation and interest in dance, self-
expression of our participants and provide opportunities lo move with joy where they may be scar￿. We
challenge traditional views of what il means lo dance, be that where we dance, who we dance with, or what
artistic expression looks like. 11 goes beyond performance in traditional theatrical settings and erumpasses
an ever-growing list of allernalive ways of artistic expression. You will see in our information below the variety
of settings in which we work, and each of these settings requires a distinctly different approach. Instead of
expecting people to come to us lo dance, we come lo where they are.
Wales Wide Training
Our Wales Wide Training Programme seeks lo inspire and sustain community dance in Wales by providing
training to any sector participant in a strategic way. responsive lo sector need. It addresses the development
and support needs of freelance community dance praclilioners within the broader context of the community
dance landscape across Wales. Through this programme. we contribute lo the danGe sector's workforce
development and enhanced Community dance provision through the provision of rtrlevanl, regular and varied
opportunities for dance pr8¢tilioners 81811 stsges of their career journeys.

WELSH DANCE THEATRE TRUST LIMITED
TRUSTEES. REPORT {CONTINUED)(INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 31 MARCH 2024
Education and career
This work includes our Young Dance Programme in which we provide GCSE dance training, as well as cur
unique pre-vocational full-time dance course IBTEC Level 3 Extended Diploma), both of which prepare
talented young people from Wales at different stages of their development for entry to higher education and
the major conservatoires. The GCSE programme is also designed to detect lalenl by working with secondary
schools and providing high intensity dance training lo encourage rllore people from diverse backgrounds to
consider careers in the sector. The full-time course has run since 1986 and provides students with the
technical skills as well as the necessary UCAS points to progress lo the degrees offered by the
conservaloires. Since its inception, we have trained hundreds of people and lake immense pride in following
the progress of their careers and it is important part of the dan￿ ecosystem in Wales.
Achievements and performance
In the following, we want lo share some qualitative and quanlitslive information lo provide you with a sense of
what we achieved in 2023124.
Our charitable a¢tivities- quantity
Community work
During the year we held 1,672 sessions which were attended by 15,451 participants who physically *tended the
sessions and 531 who attended virtLJally. The s¢ope of the ¢ommunily work we undertook included working with
young people in s¢hools and at the dan￿ studio in Nora Street.
In addition to working with young people in schools, including some with disabilities, we have excellent and
greatly appreciated programmes in care homes, online sessions for stroke victims, and our regular tap, jazz and
contemporary dance classes at Rubicon have enabled adulis to participate in dance in a relaxed, soci4ble
environment. Rubicon runs an extremely popular Bharata Natyam dance session at both our centre and online
that enables participants from all over Wales join in.
Education and career work
We provided 436 curriculum-based sessions lo 19 schools which were attended by 857 pupils with a total
attendance figure of 7,998. In addition to schools-based sessions 16 pupils took part in our GCSE Dance course
and 12 students participated in the 8TEC course.
This year we were proud lo gel 19 young people through their Dance GCSE and a further 15 through the BTEC
programme. The end-of-year show was a superb display of the skills and creativity of these remarkable young
people and was well received by all those who attended.
The Leverhulme Trust have continued to support Rubicon's programme of tslent detection by working with
secondary schools. The programme provides high intensity dance training to encourage more people from
diverse backgrounds lo consider a career in the dance sector.
Wales Wide Training Programme
Rubicon has continued to lead on the Wales Wide Training Programrne IWWTPI on behalf of the communty
dance sector across Wales. In 8ddition to online and faC￿t0-face CPD sessions there is continued support for
community dance apprentices and mentors across Wales plus ongoing development of learning oul¢ome
a¢¢redilalion linked to People Dancing." Evaluation Forums, Dance for Parkinson's developments, Shared
Pra¢ti¢e Forums, additional one to one Creative practi￿ & Wellbeing Support Sessions to support freelance
dance practitioners across Wales Ithrough the medium of Welsh, English or bilingual, Sensing Welsh *ssions
aimed at beginners and those more confident in using Welsh in their dance sessions, plus a Wales based Guest
Talk series looking at past and present key people who are working in Dance in Wales. Regular network and
strategy meetings were held to bring the dance sector together to discuss current iSSLJes and the development
and shape of WI￿P. Case stLJdies and films were made to highlight some of the strands of WWTP. International
links were created with Wales, Australia and New Zealand linked to Arts & Health. An eXperien￿d groLJP of Arts
& Heallh professionals was set up to share good and current practi￿.

WELSH DANCE THEATRE TRUST LIMITED
TRUSTEES. REPORT {CONTINUED)(INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 31 MARCH 2024
As part of the Wales Wide Training Programme we provided 96 sessions attended by over 500 participants. The
topic areas covered were.. Arts and health,. Social prescribing, the Welsh language,. early years., young people.,
older people,. dance for people living with Parkinson's,. New Schools Curriculum for Wales,. Climate Change in the
Arts,. Policy Forum,. Evaluation, Skills Share, and Creative practice & Wellbeing Support Sessions. These
sessions were..
Disabilities
We continued lo work with disabled participants of all ages offering a range of sessions which are designed to
suit the needs and abilities of participants.
Health and wellbeing
The work we undertake in hospilal-based sessions included Neuropsychiatry, brain injury, stroke rehabilitation,
mental he8llh services for older people and inlegr8ted medicine for patients with dementia and Confusion. We
81s0 continued lo offer online sessions for p8rti¢ip8nts recovering from 8 slroktr.
Our charltable a¢tlvltles- quallty
Some of the feedback we re¢eived in 2023124..
'People can forget about their disabililies, they can frirget about their pain. There is 2n esc2pism in it. Music is
deeply wired despile brain injury and taking part makes them happy"_ NHS Staff member
"What I find wilh WWTP is th21 there is an 211-inclusive approach.... Regardless of age or experience there is
something that all of us can lap into.
These sessions are giving opportunities to freelancers
.(and).. they are
listening to what we need and doing everything they can to offer resources...
- Participant, Wales Wide Trnining
Programme.
"I found Rubicon when I was 17 years old and at a crossroads with what path to take. Rubicon welcomed me in
with open arms and nurtured me through some of the most important years of development for a young &piring
artist. At Rubicon my individuality was celebrated, my creativity was challenged & 1 gained the technique and
knowledge to secure a place at degree level vocational dan￿ schools. Since graduating I have travelled all over
the world performing. I have danced on the prestigious Queen Mary 2 world voyage, performed on television
series and adverts, danced in Dubai's royal opera house, and for the last 3 years toured the U.K. wrfth Strictly
Come Dancing professionals making my wesl end debut in 2022. 1 am currently dance captain on Johannes
Radebe's sell out U.K. tour'House of JoJo' and l am absolutely loving every second. l am so blessed lo do what I
love for a living, and I will be forever grateful to Rubicon for making il all possible" B TEC Alumni Sludenl
.1 feel I have another group of friends now your Glass and a few of us have been going for CO￿ aftenvardsl
Thank you, Sophie, for your enthusiasm 8nabling me to be distracted from my pain for a little whilel"
Community Session PartlGipant
"I have never felt so connected lo dance across Wales as I have through Wales Wide Training Programme"
Participant
"Coming dancing is fabulous. 11 good for th& braAn, combats loneliness, with a gr$81 teach&r who always has a
smile'_ Parti¢Npanl community s&ssion
'Patients might have physical weaknesses, may have lost speech or be non-verbal. The sessions give them a
'voi¢e' and they are able to show theirpersonality"_ NHS staff member

WELSH DANCE THEATRE TRUST LIMITED
TRUSTEES. REPORT {CONTINUED)(INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 31 MARCH 2024
Our charitable activities- place
Rubicon's activities continue to span the major population cenlres of Cardiff and Newport, with various initiatives
impacting dance communities further afield.
The extensive reach of the Wales Wide Training Programme has enabled us lo connect with dance praotilioners
across Wales including Abergavenny, Bangor, Caemarfon, Caerphilly, Cardiff, Cardigan, Carmarthen,
Ceredigion, Narberth, Nealh, Newport, Port Talbol, Powys, Rhondda Cynon Taf, Swansea, and Vale of
Glamorgan.
Our charitable activities- partners
Along with Arts Council Wales, we enjoy supportive partnerships with many organisalions, here am some of
them. Thanks lo you alll
Cardlff Sport Metropolltsn Unlverslty
Cardlff and Vale Unlverslty Health Board
As part of the Cardlff and Vale Unlverslty Health Board partnèrshlp.. Mental Health Sèrvices for Older People..
Neuropsychiatry., Community Brain Injury Team,. Integrated Medicine,. Stroke Rehabilitsb'on servI￿s
Cardiff & Val8 Collag•
National Youth Danca Company
One Dance UK
Sense Touchbase
Sparkle (Newport)
The Royal Ballet
The Stroke Association
Wales Wide Training Programme Partners-
Afon Dance
Artis CommunityArts Care
Ballet Cymru
Caerphilly Arts Development
Cardiff Metropolitan University
Coleg Sir Gar
Dance Blast
Dancerama
Dawns i Bawb
Dance Collectlve
Elenl Cymru
Gofal Colf

WELSH DANCE THEATRE TRUST LIMITED
TRUSTEES. REPORT {CONTINUED)(INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 31 MARCH 2024
Resources in 2023124
Staffing
During the year under review Rubicon employed an average of 23 staff, 17 of whom were part lime, equating to
14 full-time roles. Seven freelan￿ dance practitioners also delivered sessions on behalf of Rubicon.
Board
Al the end of 2023124, Rubicon had eight trustees. Following the resignation of four and recruilThent of four,
Rubicon currently has eight, comprising three females and five males, aged between 30 and 61 years. Their
expertise covers strategy, govemance, operations, HR, facilitation and co-production, mental health, policy,
finance, commercial & transformation, general business and data. They have experien￿ drawn from a wide
range of sectors including arts, charity, health, finance, insurance, legal, sports, manufacturing and technology.
Investment Poli¢y
The trustees consider il prudent to hold most of the reserves on deposit lo meet short term finanaal
commitments.
Reserves Policy
Reserves are needed to bridge the gap between the spending and receiving of in¢ome, and to ¢over unplanned
emergency repairs and other expenditLJre and fLJture plans. We aim to maintain sufficient unrestricted funds in
reserves to..
Cover three months, Core Operating costs including associated siaff salaries
Undertake emergency building work, if necessary, with as li￿e disrupb'on as possible to ongoing
programmes
Cover matemity pay if all female members of staff went on matemity leave at any given time
The trustees consider that three months operational costs would be required to cover the above. At the year-end
2023124, the charity had unrestricted reserves lotalling £251,599 and restricted reserves of £13,435. It's free
reserves total £46,736. We are aiming to increase our reserve levels in the coming years sustainably and
transparently.
Flnanclal rovlaw
Rubicon continues lo deal with a difficult financial landscape. Following the financial crisis we went through in
2022123, this financial year 120231241 has seen the organisalion seek to stablilise our financial position and
prepare for the future.
We owe significant gratitude lo our funders and partners for their support over this extremely difficult lime, first
and foremost the Arts Council of Wales, who remained a consislenl source of support, advice and critical
friendship. Whilst Rubicon is no longer part of the Arts Council Wales portfolio, they have continued to be an
invaluable source of support, funding and expertise and we hope our produdive relationship can continue into
the future.
Indeed, all of our amazing funders and partners have been land are continuing to bel incredibly supportive,
including but not limited lo all the partners mentioned on page 5 along with Arts & Business Cymru (￿lture Slep,
BBC Children in Need, Cardiff & Vale College. Gwendoline & Margaret Davies Charity, Moondance Foundation,
Leverhulme Trust, Paul Hamlyn Foundation, Waterloo Foundation, Wales & West Housing Association, and
many more. A huge THANK YOU also to all the individuals and inslilulions who have fundraised for us during the
crisis, some of which are ¢ontinuing to give regularly.
The charity generated a net surplus of £52,59412023.' deficit of £115,476). It has unrestricted funds of £268,725
12023.. £186,045) and restricted funds of £37,711 12023.. £67,797) It's free reserves are £63,86212023'. £12,216).
Our financial perfomiance is comprehensively disclosed in the attached financial statements. We have made
some amendments to the way in which we present OLJr accounting statements this financial year for the purposes
of transparency.
Based on two consecutive years of losses, the Board of Trustees believes we have now correcled for the impacls
of the finanaal crisis across the past two financial years and hope to be able to move lowards balanced budgets.

WELSH DANCE THEATRE TRUST LIMITED
TRUSTEES. REPORT {CONTINUED)(INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 31 MARCH 2024
The Board of Trustees has been taking significant steps lo prepare for the end of core Arts Councl Wales
funding and secure the long term future of Rubicon, as we will necessarily have to move towards a drfferenl
funding model lo which we have become accustomed. We anticipate seeking more funding streams and a wider
range of partners through 2024125 and into 2025126.
Risk management
Issues of risk are brought to the attention of the trustees al monthly meetings held with senior nBnagement staff,
with any incidents or emerging risks raised as they occur. Polices are in place for health and safely, equal
opportunities, vulnerable adults and child protection, which are reviewed regularly.
The loss of core funding has been identified as a major risk to the charity. The charity continues to seek to
expand its sources of incomè lo miligata this.
Attention has also been fo¢used on the non-financial risks arising from fire, health and safety of staff and
parti¢ipants. The risk of fire is managed by ensLJring adequate firefighting equipment is available throughout the
premises", insurance cover is maintsined and reviewed annually.
A full health and safety audit is Carried out annually by the Centre Co-ordinator andlor an extemal ¢ontra¢tor,
which is reported to, and monitored by the Board. Accident and incident books are kept in re￿ptIOn and the
building is monitored by closed circuit television.
Simple but comprehensive internal procedures are followed for all financial transactions, which are detailed in the
Financial Procedures Manual. All expenditure musl be approved for payment with an approval process to
minimise the risk of financial loss to the charity.
Our future plans
Our vision for the future is an inclusive, vibrant and diverse Wales in which anyone, anywhere Can experien
the joy and benefits of dancing. In this world we will be a key ￿llabOratOr with other organisations, uplifting and
lebrating the SLJccess of others as much as its own.
We will undertake work in the community which brings safe, inclusive, and inspiring opportunities for dancing and
movemenl to people in Cardiff and Ihe surrounding area.
Through our education and career wort(, we will provide dan￿ education, career progression, routes and skill
development for aspiring and existing professionals.
To deliver this vision we will implement a fit-for-the-future structure and sound internal functioning of the
organisation while strengthening our reputation in our environment leading lo sustainable resource generation
relationships.
We aim to increase pathways between communities, our offers and partners, offers.
Through the Wales Wide Training Programme, we will increase connectedness and kno￿edge transfer ￿rosS
the dan￿ sector and beyond.
We will continue lo strengthen our education offering from key stage 1 to level 3, improving the reputslion of
dance as a relevant skill.
Through these actions il is our ambition that Rubicon will be a renewed organisalion with the right Structure and
ullure, as well as clear, impact-driven, and transparent decision-making processes and that we will have strong,
positive relationships Internally and &xl&rnally with a strong income and resource pipeline.

WELSH DANCE THEATRE TRUST LIMITED
TRUSTEES. REPORT {CONTINUED)(INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 31 MARCH 2024
We will endeavour lo ensure that people in Cardiff, South Wales and beyond
especially those who might
traditionally face barriers to dancing - have the opportunity lo dance in an enjoyable and inclusive environment.
They find the opportunities they need, thanks to our collaborative networks and strong educational pathways.
We will continue lo work with dance praclilioners, organisations and other experts so that they feel supported in
their development, locally and nationally, and dance will be more valued as a career skill beyond performance.
The rllajor focus areas for the next year are about reorganising the Rubicon team lo provide clear leadership,
management, governance and development, and lo secure future funding, while managing the operational
imperatives.
Structure. governance and management
It wa5 recognised in the previous year that the structure, governance, and management of the charity required a
omplele overhaul. The Board of Trustees involvement in the day-to-day running of the organisation was not
sustainable and that clear and conslstent day-lo-day rnanagement, which were causing issues with morale and
the general operating, needed lo be put in place. We were therefore delighltrd to secure funding via the Arts
Council of Wales lo fund the recruitment of an Interim CEO who would join in April 2024 to focus on
organisational reslru¢lure, strengthening OLJr relationships with key funders and partners, identifying new
opportunities for growth and introdu¢ing new policies and pro￿dure$. The aim is to ¢on¢lude the re-structure by
the end of December 2024, to stsrt 2025 with a cleady defined slru¢lure, roles and responsibilities, and effe¢live
Core policies and procedures.
Govomlng Do¢umgnl
The organisation is a registered charity and company limited by guarantee, incorporated on 2 January 1975. The
company was established under a Memorandum ofAssociation which established the objects and powers of the
charitable company and is governed by its Articles of Association,. the Articles of Associalion were amended in
July 2014. In the event of the company being wound up, members are each required to contribute an amount not
exceeding £10.
Remuneration
All trustees give their time freely and no trustee received remuneration during the year.
Staff salaries are reviewed al least annually by the Board and benchrnarked against similar sized charities, along
with ensuring that legal minimums are applied.
Induction and Training
A wide rllix of business, creative, and social skills and experience are represented by the board of Iruslees.
When a vacancy becomes available or is identified, individuals are identified, interviewed and invited to join the
board lo ensure this balance of skills is rllaintained.
In June 2022, a comprehensive skills audit and governance self-review was completed lo asses5 gaps in
expertise and identify mitigating actions, during 2023124 Rubicon established the groundwork lo prepare for a
reorganisalion of the team, including the recruilrnenl of a CEO and new trustees.
All new Irustetrs are given an introduction 8nd briefing on the Charity itself 8nd what would be expected of them,
along with the rtrlevanl information requirement of the Charity Commission lo ensu￿ that their role and
responsibilities are fully understood. Those resources include Ibul are not limited lol..
Free Iruslee training course by the Institute of Chartered Accountsnts England & Wales..
-Icaew.comllechnicallcharit
mmunit I
Governance help & guidance by the NCVO..
Charity Governance Code..
Centre for Charity Excellen
Building Better Governance..

WELSH DANCE THEATRE TRUST LIMITED
TRUSTEES. REPORT {CONTINUED)(INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 31 MARCH 2024
Reference and administrative details
Registered charity number
289068
Registered company number
1195345
Name
Welsh Dance Theatre Trust Limited
Business name
Rubicon Dance
Board of trustees
David Morgan
Shell Miller- resigned 2410612024
Gemma Barnett- resigned 0211212024
Paul Whittaker
Matthew Williams
Simon Dancey- resigned 1211212023
Jonas Fathy - resigned 1211212023
Caroline Thompson - resigned 1211212023
Avijit Bhagwant- appointed 0310912024
John Cavanagh - appointed 1211212023
Charfie Ellaway- appointed 0310912024
Micaela Owen - appointed 0910412024
Key management personnel
Simon Morris Ilnterim CEO)
Tracey Brown Imenloring, Training and Development Leaderl
Deborah Ford (Head of Vocational Training)
Sam Hindle IPrograrllme Coordinalorl
Adam Lloyd-Binding (Centre Coordinalorl
Sharon Teear (Programme Coordinator)
Principal and registered office
Nora Street
Adamsdown
Cardiff
CF24 1ND
Independent examiners
Azets Audit Services
Ty DenN
Lime Tree Court
Cardiff Gate Business Park
Cardiff
CF23 8AB
Bankèrs
Natwest Bank plc
96 Queen street
Cardiff
CF10 2GR

WELSH DANCE THEATRE TRUST LIMITED
TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS, REPORT)
FOR THE YEAR ENDED 31 MARCH 2024
The trustees. report was approved by the Board of Trustees.
John Cavanagh 2111212024
Trustee .
Dated".
10-

WELSH DANCE THEATRE TRUST LIMITED
STATEMENT OF TRUSTEES. RESPONSIBILITIES
FOR THE YEAR ENDED 31 MARCH 2024
The trustees, who are also the directors of Welsh Dan￿ Theatre Trust Limited for the purpose of company law, are
responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and
United Kingdom Accounting Standards (United Kingdom GenerallYAc￿pted Accounting Praclicel.
Company Law requires the trustees lo prepare financial statements for each financial year which give a true and fair
view of the slate of affairs of the charity and of the incoming resources and application of reSoUr￿s, including the
income and expenditure, of the charitable company for that year.
In preparing these financial slalements, the trustees are required lo..
select suitable accounting policie5 and then apply them consislenlly.,
observe the methods and principles in the Charities SORP;
make judgements and estimates that 8re reasonable and prudent., and
prepare the financial ststomenls on the going con¢grn basis unless it is inappropriate lo presume that the charity
will ¢ontinue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at
any time the financial position of the charity 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 charity and hen￿ for taking
reasonable sleps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the mainlenan¢e and integrity of the charity and financial infotmalion included on
the charity's website. Ltrgislation in the United Kingdom goveming the preparation and dissemination of financial
stslemenls may differ from legislation in other jurisdictions.

WELSH DANCE THEATRE TRUST LIMITED
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF WELSH DANCE THEATRE TRUST LIMITED
I report to the trustees on my examination of the financial slalemenls of Welsh Dance Theatre Trust Limited
Ilhe charilyl for the year ended 31 March 2024.
Responsibilities and basis of report
As the trustees of the charity land also ils directors for the purposes of wmpany lawl you are responsible for
the preparation of the financial statements in accordance with the requirements of the Companies Act 2Q08
Ithe 2006 Act).
Having satisfied myself that the financial statements of the charity are not required lo be audited under Part 16
of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the
charity's financial statements carried out under section 145 of the Charities Act 2011 Ilhe 2011 Acll. In carrying
out my examination I have followed all the applicable Directions given by the Charity Commission under
section 14515llbl of the 2011 Act.
Independent examinerfs ststement
Since the charity's gross income exceeded £250,000 your examiner musl be a member of a body listed in
section 145 of the 2011 Act. l confirm that l am qualified to undertake the examination because l am a member
of Institute of Chartered Accountants in England and Wales. which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come lo my attention in connection with the
examination giving me cause lo believe that in any material respect..
accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act., or
the financial slalements do not accord with those records., or
the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act
other than any requirement that the accounts give a true and fair view which is not a matter consid￿ed as
part of an independent examination., or
the financial stslemenls have not been prepared in accordance with the methods and principles of the
Statement of Recommended Practi￿ for accounting and reporting by charities applicable to charities
preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and
Republic of Ireland IFRS 1021.
I have no ¢on¢erns and have come across no other matters in Connection with the examination lo which
attention should be drawn in this report in order to enable a proper understanding of the financial statements to
be reached.
Andrew Howells
Azets Audit Services
Ty Derw
Lime Tree Court
Cardiff Gale Business Park
Cardiff
CF23 8AB
. 23 t>ècember 2023
12-

WELSH DANCE THEATRE TRUST LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
Unrestricted Restricted
funds
funds
2024
2024
Total
Unrestricted Restricted
funds
funds
2023
2023
Total
2024
2023
Notes
Donations and
legacies
Charitable activities
Other trading
activities
Investments
Other income
4,454
475,918
4,454
555,548
4,857
438,983
1,000
98,503
5,857
537,486
79,630
3,404
1,724
4,924
3,404
1,724
4,924
21,934
628
107,889
21,934
628
107,889
Total in¢ome
490,424
79,630
570,054
574,291
99,503
673,794
Charitsble activities
407,744
109,716
517,460
714,121
75,149
789,270
Gross transfers
between funds
Net Incomèll8xp&ndltur•l
for th• y8arl
Net movement in funds
134,8011
34,801
82,680
130,0861
52,594
1174,6311
59,155
1115,4761
FLJnd balances at 1 April
2023
186,045
67,797
253,842
360,676
8,642
369,318
Fund balance5 at 31
March 2024
268,725
37,711
306.436
186,045
67,797
253.842
The slalemenl of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditLJre account
Ljnder the Companies Act 2006.
13-

WELSH DANCE THEATRE TRUST LIMITED
BALANCE SHEET
AS AT 31 MARCH 2024
2024
2023
Notss
Flxgd assets
Intangible assets
Tangible assets
770
138,908
2,090
151,739
13
139,678
153,829
Current assets
Debtors
Cash at bank and in hand
14
129,807
98.059
174,620
84,999
227,866
259,619
Creditors: amounts falling due within
one year
161,1081
{159,6061
Net current assets
166,758
100,013
Totsl assets less currgnt Ilabllltlo$
306,436
253,842
Income funds
Restricted funds
nr
17
37,711
67,797
Designated funds
General unrestricted funds
18
204,863
63,862
173,829
12,216
268,725
186,045
306,436
253,842
The company 15 entitled to the exemption from the audit requirement contained in section 477 of the Companies Act
2006, for the year endèd 31 March 2024.
The directors acknowledge their re5ponsibililies for complying with the requirements of the Companies Act 2006
with respect lo accounting records and the preparation of financial stslemenls.
The members have not required the company to obtain an audit of ils financial slalements for the year in question
in accordance with section 476.
These financial slalements have been prepared in accordance with the provisions applicable to companies subject
to the small companies regime.
The financial statements were approved by the Trustees on
2111212024
John Cavanagh
Trustee.
Company Registration No. 1195345
14-

WELSH DANCE THEATRE TRUST LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2024
2024
2023
Notes
Cash flows from operating activities
Cash generated fromllabsorbed by)
operations
22
11,652
166,2181
Investing activities
Purchase of tsngible fixed assets
Pro￿ed$ from disposal of tsngible fixed
assets
Investment income received
13161
11,7751
14,283
628
1,724
Net Cash generated from Investlng
actlvltles
1,408
13,136
Net cash used in financing activities
Net increaselldecreasel in cash and cash
equivalents
13,060
153,0821
Cash and ¢ash equivalents at beginning of year
84,999
138,081
Cash and cash equivalents at end of year
98,059
84,999
15-

WELSH DANCE THEATRE TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies
Charity information
Welsh Dance Theatre Trust Limited is a private company limited by guarantee incorporated in England and
Wales. The registered office is Rubicon Dance, Nora Street, Adamsdown, Cardiff, South Glamorgan, CF24
1ND, United Kingdom.
1.1 Accountlng convèntlon
The financial statements have been prepared in accordan￿ with the charity's governing document, the
Companies Act 2006 and 'Accounling and Reporting by Charities.. Statement of Recommended Practi
applicable to charities preparing their accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS 1021 leffective 1 January 20191" The charity is a Public
Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional CLJrrency of the charity. Monetary
amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting
policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expe¢tstion that the ¢harity
has adequate resources to Continue in operational existence for the foreseeable future. Thus the trustees
continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitsble funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable
objectives.
Designated funds comprise funds which have been set aside at the discretion of the trustees for 5tEcific
purposes. The purposes and uses of the designated funds are sel out in the notes lo the financial statements.
Reslri¢led funds are subject to spocific Conditions by donors as to how they may be usgd. The purwsos and
uses of the reslricled ftjnds are sel out in the notes to the financial statements.
1.4 Incomè
Income is recognised when the charity is legally entitled to it after any performance conditions have been met,
the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified
of the donation, unless performance conditions require deferral of the amount. Income lax recoverable in
relation lo donations received under Gift Aid or deeds of covenant 15 recognised al the time of the donation.
16-

WELSH DANCE THEATRE TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies
{Continued}
Income from other trading activities is received by way of sales of dancewear and sundry items as well as
fundraising events and is included in the year in which il is receivable.
Income from Invest￿entS is included in the year in which il is receivable.
Incoming resources from charitable activities is received by way of sales associated with dance education and
participation and grant income and is included in the Slalernenl of Financial Activities as and when earned
and receivable. Grants where enlillemenl is not conditional on the delivery of 8 specific performanc* by the
charity are recognised when the charity becomes unconditionally enlilled lo the grant.
Deferred income is accounted for so that work invoiced in advance is deferred on the Balance Sheet within
a¢¢ruals and deferred income and released to the relevant in¢ome stream in the Statement of Financial
Activities in the year in which il is ¢arried out.
1.5 Expondltura
Expenditure is recognised once there is a legal or constructive obligation lo make a payment to a third party, it
is probable that settlement will be required and the arnounl of the obligation can be measured reliably.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
Ch8rilable expenditure comprises those costs incurrtrd by the charity in the delivery of its activities and
services for ils benefi¢i8ries. 11 includes both costs that Can bts allocated directly lo such activities and those
costs of an indirect nature necessary lo support them.
Governan￿ Costs include those Costs associated with meeting the ¢onstitution and statutory requiremonls of
the charity and inclLJde audit fees and costs linked to the strategic management of the charity.
Support costs are those functions that assist the work of the charity but do not directly undertake charitable
activities. Support costs include back office costs, finan￿, personnel, payroll and governan￿ cosÈ. The
basis for calculaling the allocation of support costs was as a flat percentage of total costs with the excepb'on
of payroll which was calculated by reviewing employee job roles and allocating accordingly.
1.6 Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured
at cost less accumulated arllortisalion and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill al the
acquisition date where il is probable that the expected future economic benefits that are attributable lo the
asset will flow lo the entity and the fair value of the asset can be me8sured reli8bly', the intangible asset arises
from contractual or other ltrgal rights- and the intangible asset is separable from th& entity.
Website
10Qlo Straight line
1.7 Tangibl8 fixed assèts
Tangible fixed assets are initially measured at cost and subsequently measured al cost or valuation, nel of
depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their
useful lives on the following bases..
Leasehold properties
Planl and machinery
straight line over the life of the le8se
10-33 /0 Straight line
17-

WELSH DANCE THEATRE TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies
{Continued}
1.8 Cash and cash equivalents
Cash and ¢ash equivaltrnls include cash in hand. deposits held at call with banks, other short-lerm liquid
inveslmtrnls with original malurilies of three months or less, and bank overdrafts. Bank overdrafts are shown
within borrowings in current liabilitios.
1.9 Financial instruments
The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12
'Olher Financial Instruments Issues, of FRS 102 to all of ils finan¢ial instruments.
Financial instruments are re¢ognised in the ¢harity's balan¢e sheet when the ¢harity becomes party to the
contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when
there is a legally enforceable right to set off Ihe recognised amounis and there is an intention to seltle on a
net basis or to realise the asset and settle the liability simultaneously.
Basic finan¢ial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at
Iransaction pri￿ including transaction costs and are subsequently carried at amortised cosl using the
effective interest method unless the arrangement constitutes a financing transaction, where the transaction is
measured at Ihe present value of the future receipts discounted at a market rate of interest. Financial assets
classified as receivable within one year are not amortised.
Dere¢ognltlon of flnanclal assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or
are settled, or when the charity transfers the financial asset and substantially all the risks and rewards of
ownership to another entity, or if some significant risks and rewards of ownership are retained but control of
the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
Baslc flnanclal Ilabllltles
Basic financial liabilities, including creditors and bank loans are initially recognised al transaction price unless
the arrangement constitutes a financing transaction, where the debt instrument is measured at the present
value of the future payments discounted al a market rate of interest. Financial liabilities classified as payable
within one year are not amortised.
Trade creditors are obligations to pay for goods or ServI￿S that have been acquired in the ordinary course of
operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one
year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially al
transaction price and subsequently measured al amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial Iiabililies are derecognised when the charity's contractual obligations expire or are discharged or
Can￿lled.
1.10 Employee benefits
The cost of any unused holiday enlillement is recognised in the period in which the employee's services are
received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed
to lerminale the employment of an trmployee or lo provide lerminalion benefits.
1.11 Retirement benefits
Payments to defined Contribution retirement ￿nefIt schemes are charged as an èxpense as they fall due.
18-

WELSH DANCE THEATRE TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies
{Continued}
1.12 Leases
Rtrnlal charges a￿ charged on a straight line basis over the term of the lease.
1.13 Taxation
As a registered Charity, W&lsh Dance The8tTe Trust Limited is entitled lo the exemption from tsxation in
respect of in¢ome and Capital gains received with sections 47PA89 of the Corporation Tax Act 2010 and
section 256 of the Taxation of Chargeable Gains Act 1992 to the oxlonl that these are applied to ils charitable
objects purposes only.
Critical accounting estimates and judgements
In the application of the charity's accounting policies, the trustees are required to make judgements, estimates
and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other
sources. The estimates and associated assumptions are based on historical experience and other factors that
are considered lo be relevant. Actual results may differ from these estirnates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
eslimales are recognised in the period in which the estimate is revised where the revision affects only that
period, or in the period of the revision and future periods where the revision affects both current and future
periods.
Donations and legacies
Unrestrlcted
funds
Unrestrl¢ted Restrlcted
funds
funds
Total
2024
2023
2023
2023
Donations and gifts
4,454
4,857
1,000
5,857
19-

WELSH DANCE THEATRE TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Charitable activities
2024
2023
Full time wurse fees
Outreach income
Grants
Box office and studio rentsls
Consultancy, training and other
74,027
SO,118
422,730
7,119
1,554
54,638
60,174
410,236
10,103
2,335
555,548
537,486
Analysis by fund
Unreslricled funds
Restricted funds
475,918
79,630
438,983
98,503
555,548
537,486
Grants
Arts Council of Wales - revenue funding
Arts Council of Wales - other
Arts & Business Cymru
The Gwendoline and Margaret Davies Charity
Cardiff Council
MOOndan￿ Foundation
Cardiff Sport
Kickstsrt Funding
Leverhulme
Culture Step
Educ8
Waterloo Foundation
David Pilchforth
Royal Ballet
ACW WWTP
Newport
Sense
CAVUHB
Tou¢hbase
Rathbone
First Choice
JGH8le
Wales & West
PHF
Other
197,503
10,715
1,400
205,891
23,402
4,182
3,000
7.020
29,630
104,374
900
3,212
54,600
11,3201
1,500
3,375
3,120
4,000
4,910
7,337
50,000
750
950
25,258
1,463
750
1,014
2,750
500
80,580
200
422,730
410,236
20-

WELSH DANCE THEATRE TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
other trading activities
Unrnstrictèd Unrèstrictèd
funds
funds
2024
2023
Sale of dancewear
Community fundraising
221
3,183
210
21,724
Other trading activities
3,404
21,934
Investments
Unrestricted Unrestricted
funds
funds
2024
2023
Interest receivable
1,724
628
Other income
Unrestricted Unrestricted
funds
funds
2024
2023
Theatre Tax Relief
4,924
107,889
21

WELSH DANCE THEATRE TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Charitable activities
2024
2023
Staff costs
Depreciation and impairment
Advertising, marketing and publicity
Bank ¢harges
General expenses
Insurance
Light and heal
Printing, postage and stalionery
Rates and water
Repairs and maintenance
Specific project expenses
Staff training
Telephone and inlernel
Travel and subsislencg
Irrecoverable VAT
230,818
10,850
6,761
1,361
6,644
3,005
4,941
901
2,258
15,256
17,338
2,950
2,343
238
6,695
445,171
10,816
11,036
1,596
9,61 S
4,095
6,338
1,406
1,058
7,110
58,436
3,961
2,414
2,359
4,786
312,359
570,197
Share of support costs (see note 91
Share of governance costs Isee note 91
197,127
7,974
171,383
47,690
517,460
789,270
Analysis by fund
Unreslricled funds
Restricted funds
407,744
109,716
714,121
75,149
517,460
789,270
22-

WELSH DANCE THEATRE TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Support costs
Support Governance
Costs
Costs
2024Support costs Governance
costs
2023
Staff costs
Depreciation
Advertising and publicity
Bank charges
General expenses
Printing, postage and
stationery
Property expenses
Travel and subsistance
Specific project expenses
Staff training
Insurance
172,176
3,617
2,254
453
2,215
172,176
3,617
2,2S4
453
2,215
131,304
3,605
3,679
532
3,204
131,304
3,605
3,679
532
3,204
301
8,266
80
5,780
983
1,002
301
8,266
80
5,780
983
1,002
469
5,640
786
19,479
1,320
1,365
469
5,640
786
19,479
1,320
1,365
Independent examination
fees
Legal and profession81
4,800
3,174
4,800
3,174
4,350
43,340
4,350
43,340
197,127
7,974
205,101
171,383
47,690
219,073
Analysed between
Charitable activities
197,127
7,974
205,101
171,383
47,690
219,073
Governance costs includes payments to the independent examiners of £3,50012023.- £2,850) for independent
examination fees and £1,30012023.' £1,500) for accountancy fees.
10 Truste•$
No trustees received remuneration or received any other benefits from an employment with the charity during
the current or previous year.
No Iruslees were reimbursed for expenses during the current or previous year.
23-

WELSH DANCE THEATRE TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
11
Employees
Numbèr ofemploye8s
The average monthly number of employees during the year was..
2024
Number
2023
Number
Full lime
Temporaryl term lime
14
17
20
31
Employment costs
2024
2023
Wages and salaries
Social security costs
Other pension costs
376,310
20,337
6,347
539,692
29.089
7,694
402,994
576,475
Key management personnel
The lolal amount of employee benefits (including gross salary, employers national insurance contributions
and employers pension conlribulionsl received by the charity's key management personnel for their services
lo the Charity during the year was £172,17612023.. £131,304).
There were no employees whose annual remuneration was £60,000 or rnore.
12 Intangible fixed assets
Web8lte
Cost
At 1 April 2023 and 31 March 2024
5,280
Amortlsatlon and Impalrment
At 1 April 2023
Amortisation charged for the year
3,190
1,320
Al 31 March 2024
4,510
Carrying amount
At 31 March 2024
770
At 31 March 2023
2,090
24-

WELSH DANCE THEATRE TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
13 Tangible fixed assets
Lea86hold
prop6rt188
Plant and
ma¢hlnery
Total
Cost
At 1 April 2023
Additions
324,765
89,952
316
414,717
316
At 31 March 2024
324,765
90,268
415,033
Depr8clatlon and Impalrm8nt
At 1 April 2023
Depreciation charged in the year
184,057
6,495
78,921
6,652
262,978
13,147
At 31 March 2024
190,552
85,573
276,12S
Carrylng amount
Al 31 March 2024
134,213
4,695
138,908
At 31 March 2023
140,709
11,030
151,739
14 Debtors
2024
2023
Amounts falling due within one year:
Trade debtors
other debtors
Prepayments and accrued income
9,534
116,157
4,116
10,203
161,761
2,656
129,807
174,620
15 Creditors: amounts falling due within one year
2024
2023
Notes
Other tsxation and social security
Deferred income
Trade creditors
other creditors
Accruals
3,509
49,904
289
1,372
6,034
2,893
8,858
1,319
1,422
145,114
61,108
159,606
25-

WELSH DANCE THEATRE TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
16 Deferred income
2024
2023
Other deferred income
49,904
8,858
Deferred income is included in the financial statements as follows..
2024
2023
Balance brought forward
In¢ome re￿iVed
Amounts released
Balance carried forward
8,858
172,310
1131,2641
50,564
83,209
1124,91 Sl
49,904
8,858
Deferred income relates lo amounts received for grants, class fees and studio hire which are tskiry place in
the 2024125 financial year.
26-

ooro
oocry
Lr) ry (
0> 0
) co ¢0
o) ry (
000
000
oooou)
too￿
000
(000
0004)
) o cy co
C ￿ OJ LL

WELSH DANCE THEATRE TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
18 Designated funds
The income funds of the charity include the following designated funds which have been set aside out of
unrestricted funds by the trustees for specific PLJrposes'.
Balance at
1 April 2022
22,917
157,000
180,759
Resources
expended
Transfers
BalanGe at
1 April 2023
20,000
Transfers
Balance at
31 March 2024
Operating reserve fund
Property upgrad8 fund
Fixed asset fund
12,9171
45,185
65,185
1157,0001
126,9301
153,829
114,1511
139,678
360,676
12,9171 1183,9301
173,829
31,034
204,863
Operating reserve fund- This fund has been designated to cover unexpected events and large unbudgeled
expenses.
Property upgrade fund- This fund has been designated to fund the upgrade of current facilities and the
acquisition and renovation of additional premises.
Flxed a$$et fund - This ftjnd represents the net book value of the charity's intangible and tsngible assets.
30-

o¢x
o¢xo
¢)rto
0￿0
o ro
oro
¢Y r

WELSH DANCE THEATRE TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
20 Related party transactions
There were no related party transactions to disdose in the current year.
In the prior year120231, trustee Paul Whittaker Ithrough his trading name Hide Productions) was paid £1,500
for filming, producing and edib'ng.
21 Company limited by guarantee
Welsh Dan￿ Theatre Trust Lirlliled is a company limited by guarantee and accordingly does not have a share
capital.
Every member of the company undertakes lo contribute such amount as may be required Inol exceeding £5
to the assets of the Charitable company in the event of its being wound up while he or she is a member, or
within one year after he or she cease to be a member.
22 Cash generated from operations
2024
2023
Surpluslldeficill for the year
52,594
1115,4761
Adjustments for..
Investment income recognised in statement of financial activities
Depreciation and impairment of tangible fixed assets
11,7241
14,467
16281
14,421
Movements in working capital..
Decreasellincreasel in debtors
IDe¢reasellin¢rease in Creditors
Increaselldecreasel in deferred income
44,813
1139,5441
41,046
145,7241
122,895
141,7061
Cash generated froml{absorbed by) operations
11,652
166,2181
23 Analysis of changes in net funds
The charity had no debt during the year.
32-