CHISENHALE DANCE SPACE LIMITED (A Company Limited by Guarantee)
DIRECTORS’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
CHISENHALE DANCE SPACE LIMITED (A Company Limited by Guarantee)
FOR THE YEAR ENDED 31 MARCH 2022
| Page | |
|---|---|
| Legal and Administrative details | 3 |
| Directors’ Report | 4 - 11 |
| Independent examiner’s report | 12 |
| Statement of Financial Activities | 13 |
| Balance Sheet | 14 |
| Notes to the Financial Statements | 15 - 22 |
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CHISENHALE DANCE SPACE LIMITED (A Company Limited by Guarantee)
FOR THE YEAR ENDED 31 MARCH 2022
Directors & Trustees: Elaine Uzochi Amuamuzia Abili (appointed October 2021, resigned February 2022) Julie Bouin (resigned April 2022) Steven Brett (Co-Chair) Clara Giraud (Co-Chair) Janine Harrington (resigned April 2022) Gabriela Matic Reece McMahon (appointed October 2021, resigned August 2022) Florin Munteanu (appointed October 2021, resigned June 2022) Alisa Oleva (appointed October 2021) Scarlett Perdereau (appointed October 2021) Chinami Sakai Company Secretary: Reece McMahon (appointed 30 August 2022) Ruth Holdsworth (resigned 30 August 2022) Registered Office: 64-84 Chisenhale Road, London, E3 5QZ Independent Examiner: Goldwins Limited, Chartered Accountants 75 Maygrove Road, West Hampstead, London, NW6 2EG Bankers: National Westminster Bank Plc, 403 Bethnal Green Road, London, E2 OAL Charity registration number: 288149 Company registration number: 01740641
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CHISENHALE DANCE SPACE LIMITED (A Company Limited by Guarantee)
FOR THE YEAR ENDED 31 MARCH 2022
TRUSTEES / DIRECTORS’ REPORT
The Trustees, who are also Directors of the charity for the purposes of the Companies Act, submit their annual report and the financial statements for the year ended 31st March 2022. The Trustees have undertaken the provisions of the Statement of Recommended Practice (SORP) ‘Accounting and Reporting by Charities’ issued in January 2015 in preparing the annual report and financial statements of the charity.
Trustees / Directors’ responsibilities
Company Law which is also applicable to charitable companies in England and Wales requires the directors, who are also Trustees of the company, to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the company and of the results of the company for that year.
In preparing those financial statements, the directors/Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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make judgements and estimates that are reasonable and prudent; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors/Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In accordance with company law, as the company's directors we certify that:
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so far as we are aware there is no relevant audit information of which the company's auditors are unaware:
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as the directors of the company we have taken all the steps that we ought to have taken in order to make ourselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.
1. Structure, Governance and Management
Governance and Organisation
The company is called Chisenhale Dance Space. It was set up in 1980 and until 2017 was governed by a Memorandum and Articles of Association which was last amended on 19 July 1983. New Articles of Association were officially adopted in September 2017, following an organisational review and in line with best practice.
The company is limited by guarantee and has no share capital. The guarantees of individual members are limited to £1. The company is a registered charity (288149).
A Board of Trustees / Directors is responsible for the Charitable Company’s overall management and control. They employ an executive staff Director to lead a staff team to carry out all functions of the organisation.
This year, Chisenhale Dance Space had an active Membership of 155 artists who collectively lead the ethos of the organisation and the programme is made by, with and in response to. Membership is renewed annually and is not a constitutional entity.
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CHISENHALE DANCE SPACE LIMITED (A Company Limited by Guarantee)
FOR THE YEAR ENDED 31 MARCH 2022
Recruitment and appointment of new Trustees
The Chisenhale Dance Space Board of Trustees / Directors meets formally four times a year, with additional meetings as necessary, and are actively involved between meetings. All new Trustees are identified and nominated by the Trustees and usually voted in at the Annual General Meeting. The Board is entitled to appoint further Trustees after discussion at Board meetings and in accordance with the Memorandum and Articles of Association.
Trustees Induction and Training
All potential new Trustees who are new to the organisation are asked to submit a profile of the skills and experience they bring to the Board. They meet with members of the Board before attending a board meeting as observers. Their induction consists of a meeting with the chair of the board to assess the current needs of the board and how they might contribute to it. They are also given the most recent Annual Report and Accounts and other information relevant to the Company.
No formal training is undertaken except as it relates to particular functions such as being a bank signatory, however Board away days are hosted each year and board development opportunities actively sought out.
Related Parties
The Company has no subsidiaries. The company has a close working relationship with Chisenhale Art Place (CAP), of which it is a Member organisation, and sub-leases its premises from. The Company also has a close working relationship with Chisenhale Gallery, the other member organisation of Chisenhale Art Place (separately constituted).
Risk Management
Trustees actively review the major risks which the charity faces and believe that maintaining financial reserves at current levels, combined with an annual review of the controls over financial systems, will provide sufficient resources in the event of adverse conditions. The Trustees have also examined other operational and business risks faced by the charity and confirm that they have established systems and plans to mitigate the significant risks.
Currently identified main areas of concern continue to be related to the building:
Physical condition:
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Many of the original Crittall metal framed casement windows need replacing. (high risk - out of current funding arrangements as dealt with by Lease holder).
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There are also significant weaknesses in the water-tightness of the space.
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There is a lack of adequate heating in the space, especially during winter months.
Lease and rent:
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CAPT’s current lease from London Borough of Tower Hamlets (LBTH) expires in 2031.
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In 2018, CDS renewed its 5-year sub-lease with landlord CAPT. With a long-term strong relationship, this is a low risk, but it is raised by its relationship to a 5-year rent-reviews between LBTH and CAPT which is a high risk to our business model.
Access
- CDS remains only accessible by 40 steps, without lift access, and this lack of access for wheelchair users limits our possibilities for hirers, audiences, programmes, partnership and potential future investment.
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CHISENHALE DANCE SPACE LIMITED (A Company Limited by Guarantee)
FOR THE YEAR ENDED 31 MARCH 2022
2. Principal Activity and Charitable Objective
Objectives
The principal activity of the company during the year continued to be supporting dance and movement based activities for professional artists and the local community. Its objectives are to promote, maintain, improve and advance education, particularly by the production and performance of dance and similar choreographic arts.
CDS Vision is:
To enrich the lives of individuals and communities through the exploration and experience of dance and to support dance/movement/live artists in the development of their creative practices.
CDS Mission Statement is:
Chisenhale Dance Space is a home for experimentation in dance and performance. Situated in the heart of Tower Hamlets for nearly 40 years, the organisation is responsive to the needs of our community: our immediate local community and our community of dance and movement artists whose influence and presence have been and continue to be crucial to the wider dance ecology, as part of British contemporary and community dance history. As a home for artists it is a unique space, a community which facilitates and engenders a creative environment. This ethos continues into the outreach programme where Chisenhale Dance Space encourages artists to respond imaginatively to the needs of those who live locally. True to its roots Chisenhale Dance Space continues to challenge perceptions and understandings of what dance and performance can be.
CDS Values are:
Venturous - Adj. “willing to take risks or embark on difficult or unusual courses of action”
Our team, programmes and structure encourage risk-taking, experimentation, learning by doing, and trusting in new people and new ideas. We have a ‘DIY’, ‘yes, and’ attitude to programmes and taking the lead in the way we want our organisation, and society, to be. We prioritise the alternative and the road-less-travelled as part of our organisational identity, and prioritise artists and audiences with identities that are marginalised by our society.
We want our artist Members, staff, Trustees, audiences, participants, local communities, funders and other stakeholders to develop a healthy attitude to new experiences and ideas, and aim to create the contexts where this can be done safely and supportively. With anti-racist action, we will venture to make the bold, structural changes and affirmative action that is required for trust to rebuild, facilitate reparation and long-term change.
Communal - Adj. “shared by all members of a community; for common use”
Our studios on Chisenhale Road are a shared resource for communities that want to dance: professional and non-professional, local and beyond, regardless of dance form, heritage or training, priced affordably. We’re based in the Roman Road area of Bow and aim to be both part of, and for, the local community, focussing our participation projects in our immediate locale.
Founded as a collective, and a Member organisation of the Chisenhale Art Place community, we retain that ethos. Our programmes, ethos and values are artistically led by a morphous community of artist members, and informed by the wider independent artistic community that we’re a hub and meeting place for. We know that the community which cares for our charity and space is wider than the Membership, and that the Membership has historically been an exclusive structure. We seek to actively dismantle the structures that have perpetuated this.
Physical - Adj. “relating to the body; to things perceived through the senses; tangible or concrete”
CDS’ work is an embodiment of creativity of our human bodies, inspiration in sensation, and of gathering
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CHISENHALE DANCE SPACE LIMITED (A Company Limited by Guarantee)
FOR THE YEAR ENDED 31 MARCH 2022
together in a space. We are a dance organisation, however, in the spirit of venture and experimentation, we take the broadest possible view of dance and its related body-centred and choreographic forms.
At our core, as the organisation has evolved, we have always been a physical studio space for people to explore the potential of their physical bodies. Our Performance Studio, with its historic floor and wall, has forged a place in UK dance history through the people that have used it. We are committed to occupying a space, making it available to artists at affordable prices, and for securing a viable and affordable future for dance on Chisenhale Road.
Our programmes prioritise the sensation and communal benefits of physicality and liveness: the sharing of in-person dance experiences, through performance, classes, workshops and more. Though we embrace the digital world, we ask how it can enhance our physical sensation, rather than reduce or replace it.
Annual Review and Successes
The year 2021 – 2022 was a year that saw great challenge and change for CDS, as we began to fully understand the impact of the pandemic on the organisation.
At the start of the new financial year, CDS was successful in an Arts Council England CRF 2 application of £83,764 to support recovery from Covid-19 and to build organisational reserves. CDS also received grants from the Government Additional Restrictions Grants, Backstage Trust, Clarion Futures and Action for Bow. CDS ended the year with a successful application to the Arts Council England Emergency Response Fund for a total of £130,000 which will support CDS with core costs, an internal revisioning process and to slowly return to a ‘new’ normal model post-covid.
CDS turnover this year (£365,245) was significantly higher than previous due to receiving large emergency grants at the start and end of the year, with a large portion of this sitting as restricted funds ready to be spent in 2022-2023.
1. Studio hire
Affordable studio hire for independent artists, bookable online by-the-hour or for longer term residencies, continues to be at the core of both CDS’ charitable aims, financial model and operations.
21-22 saw a phased reopening of studio spaces with covid restrictions in place, with CDS gradually seeing a return to pre-covid level of activities in certain months and an overall increase on space hire income. CDS implemented new ways of operating the building safely to keep the organisation open. These included changing the locks to an individual timed-entry key code system to minimise staff on site, working remotely, installing security cameras, establishing new health and safety protocols and adapting our space hire booking system/processes.
CDS was open on 364 days of the year, usually for 9 hours per day (up 149% on 20/21 due to lifting of national COVID-19 ‘lockdown’ restrictions) and we had over 9,000 estimated visitors and users of our space.
Our studios were used by artists for 4237 hours this year, of which 1135 hours were hired to our Members at their reduced, subsidised rate. We offered 75 hours of free studio space to our Members through last minute availability.
We are one of London’s most affordable dance and performance studios and we regularly earn between 15-20% of our annual income providing this resource.
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CHISENHALE DANCE SPACE LIMITED (A Company Limited by Guarantee)
FOR THE YEAR ENDED 31 MARCH 2022
2. Classes for children and adults
Thanks to the generosity of funder Action for Bow, CDS reinstated the Children’s Classes Programme. Access to these services are crucial given the limited local dance provision. CDS has increased the number of classes to 7, including 312 children participating over 3852 times this year. We offered 12 free places and 16 bursaries to creative movement sessions for children and their guardians and Street Dance and provided a 50% concessionary rate to widen access and remove financial barriers.
Due to the continuing impact of the pandemic we were unable to run any adult classes, with us currently looking at the possibility of resuming these for 22/23.
3. Membership and artist development programmes
This year saw the beginning of a membership review to better understand how CDS can best serve it’s 100+ strong artistic membership – this included a membership questionnaire to gather feedback, monthly membership meetings and a paid members working group (consisting of Joseph Funnell, Rachel Gomme, Claudia Palazzo, and Joseph Morgan Schofield) who have begun the process of understanding what artist leadership at CDS looks like moving forwards. This is an area of work we are committed to continue exploring, funding and actioning in 22-23.
We hosted our first AGM since 2019 on Tuesday 21st March 2022 which was a blended in-person and live streamed event, co-facilitated by Es Morgan and Lyndsay Burtonshaw, with 35 attendees.
CDS offered ten member artists a paid one-week residency in the dance studios. Nine artists were chosen for summer residencies through a trial of a modified random selection process to ensure fairer representation of disabled artists and artists from the global majority. Members selected were: Alisa Oleva, Colleen Bartley, Jaivant Patel, Joseph Funnell, Katsura Isobe, Rukeya, Sarah Poekert, Valeria Tello Giusti and Yumino Seki. Flora Wellesley Wesley was also selected through an open call for the Summer of Art residency.
We also hosted anti-racism training with Season Butler, with 40 people per session taking part across 4 sessions. These are also developing into a permanent online webinar series, which we are pursuing licensing for use with other organisations and to share more widely.
4. Performance programme
CDS was unable to reopen a full public performance programme this year, continuing to pause delivery to allow more focus on core operations and management, as well as to allow more internal reflection through phase one of the membership revisioning. During 21-22, the live streaming capabilities of CDS have been enhanced by technician Mike Picknett. We are keen to test this possibility soon.
We successfully ran our second edition of Encounter Bow, a day of free outdoor arts for the local community. Curated by artist member Moi Tran, the event explored community care and the importance of sharing and collecting stories and saw approx 1,200 attend across the day. This included work by Ghost and John, Anna Sulan Masing, Caro Gervay & Lily Ly, Eelyn Lee, Jason Singh, Kimvi and Quang Kien Van.
5. Outreach and education projects in Tower Hamlets
CDS forged a partnership with Chisenhale Gallery and Chisenhale Studios to deliver a series of creative art workshops for the local community in the next-door Chisenhale Learn, Play, Create Space from July - September 2021. The three organisations collaborated with Chisenhale Primary School PTA, the V&A Museum of Childhood, and the local community to host 27 creative arts workshops, a CDS Member Commission for Flora Wellesley Wesley, 2 Performances by Feet off the Ground and a festival, which was attended by over 800 local children, families and residents.
We also delivered several school projects throughout 2021-22 via the THAMES Dance Consortium. Schools included Chisenhale Primary School and Bigland Green Primary School. We also delivered dance workshops at All Points East In the Neighbourhood Festival in Victoria Park in September 2021.
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CHISENHALE DANCE SPACE LIMITED (A Company Limited by Guarantee)
FOR THE YEAR ENDED 31 MARCH 2022
6. Organisational Change
This has been a year of reduced programme activity for CDS as we continue to recover from the pandemic and understand the impact of it on our organisation and operational models. Board and Staff have continued working on As a 40-year-old organisation, we recognise the need to learn from people with lived experiences & ways of being in the world that have historically been excluded by us & by the sector.
We’ve been building up to this moment over the last few years, by centering the voices of marginalised people to ensure our programmes are as inclusive as possible. We know we can do better to understand how to embed the anti-racist & anti-ableist values & practices that now sit at the core of CDS. CDS has always been a space for marginal artists to make experimental work on the edges of form & process but now believe we should be an organisation that takes action against systemic inequalities & empowers marginalised people to take the lead, particularly disabled artists & those with Global Majority heritage. This work has manifested through the development and use of:
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CDS’s Code of Conduct, to be used by staff and trustees, as part of a process to better understand the impacts of intersecting privilege and oppression as they are expressed in our organisation and wider field.
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CDS’s Feedback and Complaints policy, for the use of key stakeholders including Members, Board members, freelancers, hirers and the general public.
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CDS’s Child Protection and Safeguarding Policy, setting out CDS’s approach to safeguarding and promoting the welfare of children, young people and vulnerable adults.
7. Archive
Rachael Davies continued her work as part of the Collaborative Doctoral Award PhD on CDS’ archives, with Coventry University’s Centre for Dance Research, using the CDS archive to create a detailed historical and cultural analysis of CDS’s contribution to the dance sector. We hope to share much of this research across our 40th anniversary year beginning at the end of 22-23.
8. Staff Development
At the end of the year, the team consisted of Ruth Holdsworth as Director (0.8 FTE permanent), Jessica Richards as Operations Manager and Participation Producer (FT, permanent) and Es Morgan as Producer: Membership (0.5 FTE), with Renée Bellamy as Operations Coordinator and Sam Burkett as Classes Coordinator (both fixed term). We are also grateful to Ruby Embley and Amelia Zhou (both left December 2021) for their work this year as part of the core staff team.
CDS relies on freelance team members for project delivery and expansion. Regular freelance office team this year, Michael Picknett on a retainer as Lead Technician, and Noemi Gunea as Venue Assistant.
In line with HM Revenue & Customs guidelines, core staff are employed on a PAYE basis.
9. Trustee Development
21-22 saw CDS recruit new board members, with the following board members joining in October 2021: Reece McMahon, Scarlett Perdereau (Member), Alisa Oleva (Member) and Elaine Abili (gave their resignation in Feb 2022 due to conflicting work commitments) and Florin Munteanu (gave their resignation in June 2022 due to work commitments).
Previous chair, Clara Giraud, stepped down from her duties during a period of maternity leave. Steven Brett (previous co-chair) held the co-chair position alongside Gabi Matic until Clara’s return to position, which now see’s her share the role with Steven again.
Julie Bouin and Janine Harrington both left the board in April 2022 after coming to the end of their tenures.
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CHISENHALE DANCE SPACE LIMITED (A Company Limited by Guarantee)
FOR THE YEAR ENDED 31 MARCH 2022
Interim Director, Ruth Holdsworth, left her position in August 2022 and after a recruitment process, Reece McMahon took on the role of Director from August 2022, stepping down as a trustee in the process.
The roles/ areas of contribution for the new Board Members will evolve across 22-23, once they have settled into their Trustee roles and are able to identify with the board and staff the best skills match with specific areas of CDS’ activity.
Financial Review
At the start of the new financial year, CDS was successful in an Arts Council England CRF 2 application of £83,764 to support recovery from Covid-19 and to build organisational reserves. CDS also received grants from the Government Additional Restrictions Grants, Backstage Trust, Clarion Futures and Action for Bow. CDS ended the year with a successful application to the Arts Council England Emergency Response Fund for a total of £130,000 which will support CDS with core costs, an internal revisioning process and to slowly return to a ‘new’ normal model post-covid.
At the beginning of April 2021, CDS started the year with £58,254 in unrestricted funds, inclusive of our reserves. Although the organisation saw a slow increase to pre-pandemic levels of monthly space hire income and an overall increase in other areas of earned income, the impact of Covid on our operating model was challenging.
Reserves
The Trustees aim to hold three months’ operating costs in reserve. Due to the impact of COVID-19 and provision of emergency funding which allowed us to increase reserves, our Balance Sheet at the end of this year shows general reserves of £27,706 with an additional designation of unrestricted funds of £12,000 held for maintenance to our building, totalling £39,706, which is just under three months of operating costs at current levels. The pandemic has caused unprecedented uncertainties for many charities and Trustees seek to inflate reserves back to our target of £44,000.
Income Generation and Fundraising
Income Generation
This year saw the organisation increase its turnover from £207,815 in 20-21 to £365,245 in 21-22 . This is a £157,420 difference, which is a 75% increase in comparison to the previous year. A large portion of this increase is his sitting as restricted funds (£119,728) ready to be spent in 2022-2023. Earned income (including studio hire, classes, box office, catering) totals 20% of turnover this year (down 9% on last year), with studio hire contributing 15.5% (down by 4.5% last year), but this is due to a large proportion of our income (58%) coming from emergency grants at the start at end of the year, as outlined above. Studio hire and educational classes are core charitable purpose trading for CDS.
Fundraising
CDS was successful in securing a CRF2 Grant (£83,764) at the start of the year and ERS grant (£130,000) at the end of the year. These grants have been crucial in supporting CDS weather the impact of the Covid-19 pandemic on our business model. Arts Council England grants contributed 58% of CDS’ turnover this year, up by 15% in the previous year. CDS has a strong track record with ACE which enables the building of additional programmes beyond our core studios-based offer.
Relatedly, we are continuing consultancy with Chisenhale Gallery and Art Place on inter-organisational governance and securing a future development of our shared building.
For CDS’s survival in 2021-2022, we’re also immensely thankful for additional funds awarded from Government Additional Restrictions Grants, Backstage Trust, Clarion Futures and Action for Bow and thankful to all individual donors large and small. We have identified that CDS needs to begin building new relationships with funders, trusts & foundations as it looks to secure the future of the organisation.
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CHISENHALE DANCE SPACE LIMITED (A Company Limited by Guarantee)
FOR THE YEAR ENDED 31 MARCH 2022
We have a significant fundraising target moving forwards to ensure we have enough in reserve to cover 3 months of contractual expenditure.
We have a growing relationship with local community development fund, Action for Bow, which we hope to be able to sustain and grow over the coming years, chiming perfectly with our organisational intent to focus activities in the immediate Bow community.
Donations represented 0.3% of income this year, down by 4% from last year, mainly due to us running no significant campaigns and increased funding. Increasing CDS’ philanthropic and individual giving strand is a key priority moving forwards.
Investment Powers
The charity has no significant investments other than cash on deposit. Under the articles and memorandum, the Trustees have the power to invest in any way the Trustees wish.
Public Benefit
The principal activities of the charity during the year continued to be supporting dance and movement based activities for professional artists and the local community. The Trustees are aware of the Charity Commission guidance on public benefit reporting as set out in Section 17 Charities Act 2011. The Trustees believe that the charity achieves a public benefit by providing these services as detailed in this report.
Small company exemptions
The above report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
This report was approved by the Board of Trustees / Directors on Tuesday 15 November 2022 and signed on its behalf by:
Steven Brett Co-Chair
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CHISENHALE DANCE SPACE LIMITED (A Company Limited by Guarantee)
FOR THE YEAR ENDED 31 MARCH 2022
INDEPENDENT EXAMINERS’ REPORT
I report to the charity Trustees on my examination of the accounts of the Company for the year ended 31 March 2022.
Responsibilities and basis of report
As the charity’s Trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner’s statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
A Ah eny E pton
Anthony Epton BA FCA CTA FCIE Goldwins Chartered accountants 75 Maygrove Road West Hampstead London NW6 2EG
05/12/2022
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CHISENHALE DANCE SPACE Statement of financial activities (incorporating an income and expenditure account) For the year ended 31 March 2022
| For theyear ended 31 March 2022 | ||||
|---|---|---|---|---|
| Note Income from: Donations and legacies 3 Charitable activities 4 Total income Expenditure on: 5 Charitable activities Total expenditure 6 Transfers between funds Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward Net income / (expenditure) for the year |
Unrestricted Funds £ 1,228 91,704 92,932 111,480 111,480 (18,548) - (18,548) 58,254 39,706 |
Restricted Funds £ - 272,313 272,313 152,585 152,585 119,728 - 119,728 - 119,728 |
2022 Total Funds £ 1,228 364,017 365,245 264,065 264,065 101,180 - 101,180 58,254 159,434 |
2021 Total Funds £ 10,840 196,975 |
| 207,815 | ||||
| 197,281 | ||||
| 197,281 | ||||
| 10,534 - |
||||
| 10,534 47,720 |
||||
| 58,254 |
All of the above results are derived from continuing activities.
There were no other recognised gains or losses other than those stated above.
The attached notes form part of these financial statements.
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CHISENHALE DANCE SPACE
Balance sheet As at 31 March 2022
| CHISENHALE DANCE SPACE Balance sheet As at 31 March 2022 |
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|---|---|---|---|---|---|
| 2022 | 2022 | 2021 | 2021 | ||
| Note | £ | £ | £ | £ | |
| Fixed assets: | |||||
| Tangible assets | 8 | 1,193 | 1,952 | ||
| Current assets: | |||||
| Debtors | 9 | 818 | 7,863 | ||
| Cash at bank and in hand | 171,971 | 79,442 | |||
| 172,789 | 87,305 | ||||
| Liabilities: | |||||
| Creditors: amounts falling due within one year | 10 | 14,548 | 31,003 | ||
| Net current assets | 158,241 | 56,302 | |||
| Total net assets | 159,434 | 58,254 | |||
| The funds of the charity: | 11 | ||||
| Restricted funds | 119,728 | - | |||
| Unrestricted funds: | |||||
| Designated funds | 12,000 | 12,000 | |||
| General funds | 27,706 | 46,254 | |||
| Total unrestricted funds | 39,706 | 58,254 | |||
| Total charity funds | 159,434 | 58,254 |
For the year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.The directors acknowledge their responsibility for.complying with the requirements of the Act with respect to accounting records and for the preparation of accounts.These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
Approved by the trustees on 15/11/2022.
and signed on their behalf by:
Steven Brett
Chair of Trustees
Company registration no. 1740641
The attached notes form part of the financial statements.
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CHISENHALE DANCE SPACE Notes to the financial statements For the year ended 31 March 2022
1 Accounting policies
a) Basis of preparation
- The financial statements have been 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 (FRS 102 - effective 1 January 2015) - (Charities SORP FRS 102) and the Companies Act 2006.
Chisenhale Dance Space 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 or note.
b) Going concern
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The trustees consider that there are no material uncertainties about Chisenhale Dance Space's ability to continue as a going concern. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.
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c) Income Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.
Income from government and other grants, whether grants or grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. Income received in advance for the provision of specified service is deferred until the criteria for income recognition are met.
d) Donations of gifts, services and facilities
Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP
On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
e) Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
f) Fund accounting
Unrestricted funds are available to spend on activities that further any of the purposes of charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the work or for specific projects being undertaken by the charity.
15
CHISENHALE DANCE SPACE Notes to the financial statements For the year ended 31 March 2022
1 Accounting policies (continued)
g) Expenditure and irrecoverable VAT
-
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. Expenditure is classified under the following activity headings:
-
Costs of raising funds comprise of trading costs and the costs incurred by the charitable company in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose. Expenditure on charitable activities includes the costs of delivering services and other activities undertaken to further the purposes of the charity and their associated support costs. Other expenditure represents those items not falling into any other heading.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
- h) Allocation of support costs
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, finance, personnel and governance costs which support Chisenhale Dance Space's charitable activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. The bases on which support costs have been allocated are set out in note 6.
i) Operating leases
Rental charges are charged on a straight line basis over the term of the lease.
j) Tangible fixed assets
Items of equipment are capitalised where the purchase price exceeds £200. Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:
- ˜ Office equipment
25% straight line
k) Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
l) Cash at bank and in hand
Cash at bank and cash in hand includes cash and bank deposit or similar account.
m) Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
n) Financial instruments
- The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
o) Pensions
The charity operate stake holder pension schemes.
16
CHISENHALE DANCE SPACE
Notes to the financial statements For the year ended 31 March 2022
2 Detailed comparatives for the statement of financial activities
| Income from: Donations and legacies Charitable activities Total income Expenditure on: Charitable activities Total expenditure Net gains / (losses) on investments Net income / expenditure Transfers between funds Net movement in funds Total funds brought forward Total funds carried forward Net income / expenditure before gains / (losses) on investments |
2021 £ 10,840 93,905 104,745 80,168 80,168 24,577 - 24,577 - 24,577 33,677 58,254 Unrestricted Funds |
2021 2021 Total Funds £ £ - 10,840 103,070 196,975 103,070 207,815 117,113 197,281 117,113 197,281 (14,043) 10,534 - - (14,043) 10,534 - - (14,043) 10,534 14,043 47,720 - 58,254 Restricted Funds |
|---|---|---|
| 3 Income from donations and legacies Donations 4 Arts Council England London Borough Tower Hamlets Backstage Trust Action for Bow Creative Land Trust Other grants Other income Space hire Income from charitable activities Total income from charitable activities Children's classes Others |
£ 1,228 1,228 £ - - - - 3,395 59,894 19,656 8,759 91,704 Unrestricted Funds Unrestricted Funds |
£ - - £ 208,396 20,000 19,950 23,967 - - - - - 272,313 Restricted Funds Restricted Funds |
2022 Total Funds £ 1,228 1,228 2022 Total Funds £ 208,396 20,000 19,950 23,967 - 3,395 59,894 19,656 8,759 364,017 |
2021 Total Funds £ 10,840 |
|---|---|---|---|---|
| 10,840 | ||||
| 2021 Total Funds £ 89,295 - 10,000 7,275 6,500 16,619 43,118 6,556 17,612 |
||||
| 196,975 |
17
CHISENHALE DANCE SPACE Notes to the financial statements For the year ended 31 March 2022
5 Analysis of expenditure
| Analysis of expenditure | ||||
|---|---|---|---|---|
| Staff costs (Note 8) Direct costs Freelance programme costs Freelance admin costs Technician costs Other staff costs Artists programme costs Catering Consultancy Others Administration expenses Bank charges Licence & Insurance Cleaning & building maintenance Printing, postage & stationery Rent & utilities Accountancy Telephone & Internet Bad debts Legal & Professional fees Trustee Expenses IT expenses Independent examniner fees Depreciation Support costs 2022 total Support costs 2021 total |
£ 82,428 12,962 - 3,040 7,870 48,972 283 7,180 12,189 - - - - - - - - - - - - - Charitable activities |
£ - - - - - - - - - 209 4,470 18,226 2,902 45,413 4,737 774 2,016 4,295 10 2,330 3,000 759 Support costs |
£ 82,428 12,962 - 3,040 7,870 48,972 283 7,180 12,189 209 4,470 18,226 2,902 45,413 4,737 774 2,016 4,295 10 2,330 3,000 759 2022 |
£ 80,015 6,265 6,175 2,210 4,327 11,755 150 3,900 9,983 594 2,148 21,589 2,891 34,056 3,616 1,926 - - - 1,901 2,572 1,208 2021 |
| 174,924 89,141 |
89,141 (89,141) |
264,065 - |
197,281 - |
|
| 264,065 | - | 264,065 | 197,281 | |
| 124,780 72,501 |
72,501 (72,501) |
|||
| 197,281 | - |
Of the total expenditure, £111,480 was unrestricted (2021: £80,168) and £152,585 was restricted (2021: £117,113).
18
CHISENHALE DANCE SPACE
Notes to the financial statements For the year ended 31 March 2022
Analysis of expenditure
| Analysis of expenditure | ||||
|---|---|---|---|---|
| Staff costs (Note 8) Fundraising costs Direct costs Freelance programme costs Freelance admin costs Technician costs Other staff costs Artists programme costs Catering Others Administration expenses Fundraising Strategy Development Bank charges IT expenses Licence & Insurance Cleaning & building maintenance Printing, postage & stationery Rent & utilities Accountancy Telephone & Internet Legal & Professional fees Trustee Expenses IT expenses Independent examniner fees Depreciation Support costs 2021 total Support costs 2020 total |
£ 80,015 - 6,265 6,175 2,210 8,227 11,755 150 9,983 - - - - - - - - - - - - - - Charitable activities |
£ - - - - - - - - - - 594 2,148 21,589 2,891 34,056 3,616 1,926 - - 1,901 2,572 1,208 Support costs |
£ 80,015 - 6,265 6,175 2,210 8,227 11,755 150 9,983 - 594 - 2,148 21,589 2,891 34,056 3,616 1,926 - - 1,901 2,572 1,208 2021 |
£ 73,605 104 29,643 6,865 3,210 3,800 41,139 1,393 7,118 - 2,145 - 3,172 9,394 3,298 43,784 3,240 768 - 89 1,669 2,352 607 2020 |
| 124,780 72,501 |
72,501 (72,501) |
197,281 - |
237,395 - |
|
| 197,281 | - | 197,281 | 237,395 | |
| 166,878 70,517 |
70,517 (70,517) |
|||
| 237,395 | - |
19
CHISENHALE DANCE SPACE Notes to the financial statements For the year ended 31 March 2022
| 6 Net income / (expenditure) for the year This is stated after charging / (crediting): Depreciation Independent examiner fee |
2022 £ 759 3,000 |
2021 £ 1,208 2,572 |
|---|---|---|
| 7 Staff costs were as follows: 2021 £ 81,054 1,374 82,428 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel Salaries and wages including social security costs |
7 Staff costs were as follows: 2021 £ 81,054 1,374 82,428 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel Salaries and wages including social security costs |
2020 £ 78,536 1,479 |
|---|---|---|
| 82,428 | 80,015 |
No employee earned more than £60,000 during the year (2021: nil).
The total employee benefits including pension contributions of the key management personnel were £48,398 (2021: £31,438).
One charity trustee, Janine Harrington, has been paid £800 for a consultancy service on a code of conduct. No other charity trustees were paid or received any other benefits from employment with the charity in the year (2021: £Nil) neither were they reimbursed expenses during the year (2021: £Nil).
Staff numbers
The average number of employees (head count based on number of staff employed) during the year was as follows:
| Direct charitable work 8 Tangible fixed assets Cost At the start of the year Additions in year At the end of the year Depreciation At the start of the year Charge for the year At the end of the year Net book value At the end of the year At the start of the year All of the above assets are used for charitable purposes. |
£ 636 - Fixtures & Fittings |
2022 No. 5 |
2021 No. 4 |
|---|---|---|---|
| 5 | 4 | ||
| £ 4,190 Office equipment |
Total £ 4,826 - |
||
| 636 | 4,190 | 4,826 | |
| 318 159 |
2,556 600 |
2,874 759 |
|
| 477 | 3,156 | 3,633 | |
| 159 | 1,033 | 1,193 | |
| 318 | 1,634 | 1,952 | |
9 Debtors
| Other debtors | 2022 £ 818 |
2021 £ 7,863 |
|---|---|---|
| 818 | 7,863 |
20
CHISENHALE DANCE SPACE Notes to the financial statements For the year ended 31 March 2022
10 Creditors: amounts falling due within one year
| Creditors: amounts falling due within one year | ||
|---|---|---|
| Other creditors Deferred income Accruals Deferred income Balance at the beginning of the year Amount released to income in the year Amount deferred in the year Balance at the end of the year |
2022 £ 4,063 - 10,485 |
2021 £ 4,198 24,005 2,800 |
| 14,548 | 31,003 | |
| 2022 £ 24,005 (24,005) - |
2021 £ - - 24,005 |
|
| - | 24,005 |
Deferred income represents grants received for the purpose of expenditure in a future period.
11 Analysis of net assets between funds- Current year
| Tangible fixed assets Net current assets Net assets at the end of the year Analysis of net assets between funds- Prior year Tangible fixed assets Net current assets Net assets at the end of the year |
General Unrestricted Funds £ 1,193 26,513 |
Designated Funds £ - 12,000 |
Restricted Funds £ - 119,728 |
Total funds £ 1,193 158,241 |
|---|---|---|---|---|
| 27,706 | 12,000 | 119,728 | 159,434 | |
| General Unrestricted Funds £ 1,952 20,916 |
Designated Funds £ - 12,000 |
Restricted Funds £ - 14,043 |
Total funds £ 1,952 46,959 |
|
| ~~22,868~~ | ~~12,000~~ | ~~14,043~~ | ~~48,911~~ |
12 Movements in funds-Current year
| Arts Council England Backstage Trust London Borough Tower Hamlets Action for Bow Total restricted funds Building costs Organisation contingency Total designated funds General funds Total unrestricted funds Total funds |
£ - - - - At the start of the year |
£ 208,396 19,950 20,000 23,967 Incoming resources & gains |
£ (123,147) (7,605) - (21,833) Outgoing resources & losses |
Transfers £ - - - - |
£ 85,249 12,345 20,000 2,134 At the end of the year |
|---|---|---|---|---|---|
| - | 272,313 | (152,585) | - | 119,728 | |
| 8,000 4,000 |
- - |
- - |
- - |
8,000 4,000 |
|
| 12,000 | - | - | - | 12,000 | |
| 46,254 | 92,932 | (111,480) | - | 27,706 | |
| 58,254 | 92,932 | (111,480) | - | 39,706 | |
| 58,254 | 365,245 | (264,065) | - | 159,434 |
21
CHISENHALE DANCE SPACE Notes to the financial statements For the year ended 31 March 2022
| ISENHALE DANCE SPACE tes to the financial statements rthe year ended 31 March 2022 |
|||||
|---|---|---|---|---|---|
| Movements in funds-Prior year Arts Council England Clarion Futures Creative Land Trust Action for Bow Total restricted funds Building costs Organisation contingency Total designated funds General funds Total unrestricted funds Total funds |
£ 11,235 2,808 - - At the start of the year |
£ 89,295 - 6,500 7,275 Incoming resources & gains |
£ (100,530) (2,808) (6,500) (7,275) Outgoing resources & losses |
Transfers £ - - - - |
£ - - - - At the end of the year |
| 14,043 | 103,070 | (117,113) | - | - | |
| 8,000 4,000 |
- - |
- - |
- - |
8,000 4,000 |
|
| 12,000 | - | - | - | 12,000 | |
| 21,677 | 104,745 | (80,168) | - | 46,254 | |
| 33,677 | 104,745 | (80,168) | - | 58,254 | |
| 47,720 | 207,815 | (197,281) | - | 58,254 |
13 Operating lease commitments
The charity has no future payments under non-cancellable operating leases.
14 Related party transactions
Other than what has been disclosed in note 7, there are no related party transactions (2021: None).
22