2022-03-31-accounts - National Dance Company Wales

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			Page
Report ofthe Chair
Report ofthe Trustees		2	lo	15
(including Reference and administrative	details on page 14)
Report ofthe Independent Auditors		16	to	18
Statement ofFinancial Activities			19
Balance Sheet			20
Cash Flow Statement			21
Notes to the Cash Flow Statement			22
Notes to the Financial Statements		23	to	33
Detailed Statement of Financial Activities		34	to	35

							2022	2021
					Unrestricted	Restricted	Total	Total
					funds	funds	funds	funds
				Notes		F	E
INCOME AND ENDOWMENTS		FROM
Donations and legacies					881,234	58,801	940,035	1,078,800
Charitable activities
Advancing arts and education	through		dance		113,579	233,913	347,492	74,411
Other trading activities					430		430	27
Investment income					2		2	3
Other income					10,622		10,622	506
Total					1,005,867	292,714	1,298,581	1,153,747
EXPENDITURE ON
Raising funds					416		416	1,870
Charitable activities
Advancing arts and education	through		dance		1,117,608	269,536	1,387,144	1,121,601
Total					1,118,024	269,536	1,387,560	1,123,471
NET INCOME l (EXPENDITURE) BEFORETAX					(112,157)	23,178	(88,979)	30,276
Theatre Tax Relief					140,074		140,074
NET INCOME l (EXPENDITURE) AFTER TAX					27,917	23,178	51,095	30,276
RECONCILIATION OF FUNDS
Total funds brought forward					58,382		58,382	28,106
TOTAL FUNDS CARRIED FORWARD					88,299	23,178	109,477	58,382

				2022		2021
		Unrestricted	Restricted	Total		Total
	Notes	funds f	funds F	funds E		fundsf
FIXEDASSETS
Intangible assets Tangible assets	15 16	3,002 52 826		3,002 52,626		5,404 37,674
		55,628		55,628		43,078
CURRENT ASSETS
Debtors	17	248,312	51,013	299,325		80,519
Cash at bank and in hand		f44,105)	120923	76 816		262 974
		204,207	171,936	376,143		343,493
CREDITORS
Amounts falling due within one year	18	(173,536)	(148,758)	(322,294)		(328,189)
NET CURRENT ASSETS		30,671	23,178	53,849		15,304
TOTAL ASSETSLESS CURRENT	LIABILITIES	86,299	23,178	109,477		58,382
NET ASSETS/(LIABILITIES)		86,299	23,178	109477	,	58,382
FUNDS	20
Unrestricted funds				86,299		58,382
Restricted funds				23,178
TOTALFUNDS				109,477		58,382

				2022	2021
			Notes	E
Cash flows from operating		activities
Cash generated from operations				(158,839)	134,752
Tax paid					61,625
Net cash (used in)/provided		by operating	activities	)158,839)	196,377
Cash flows from investing		activities
Purchase oftangible fixed assets				(27,419)	(3,528)
Sale oftangible fixed assets				100
Interest received				2	3
Net cash used in investing	activities			~27,3)7)	~3.525)
Cash flows from financing		activities
Loan repayments in year					1,870
Net cash provided by/(used		in) financing	activities		~1,870)
Change in cash and cash		equivalents	in
the reporting period				(186,156)	190,982
Cash and cash equivalents		at the
beginning ofthe reporting		period		262,974	71,992
Cash and cash equivalents		at the end	of
the reporting period				76,818	262,974

RECONCILIATION	OF NET I	NCOME TO NET CASH FLOW FROM OPERATI	NG ACTIVITIES
			2022	2021
			E	E
Net income for the	reporting	period (as per the Statement of Financial
Activities)			51,095	30,276
Adjustments for: Depreciation charges			14,869	16,457
Profit on disposal offixed assets			(100)
Interest received			(2)	(3)
(Increase)/decrease Decrease in creditors	in debtors		(218,806) ~5,895	95,709 ~7,687
Net cash (used in)/provided		by operations	~158,8393	134,752

ANALYSIS OF CHANGES
	At 1/4/21	Cash flow	Al 31/3/22
	f	E	E
Net cash
Cash at bank and in hand	262,974	~186,156	76 818
	262,974	~186156	76,818
Total	262,974	~186,156	76,818

3.	DONATIONS AND LEGACIES
					2022	2021
					F
	Arts Council ofWales revenue	grant			843,362	843,362
	Coronavirus Job Retention Scheme				28,975	101,078
	Other grants and donations				67,698	134,360
					040035	1078 800
4.	OTHER TRADING ACTIVITIES
					2022	2021
	Merchandising				430	27
5.	INVESTMENT INCOME
					2022	2021
					E	F
	Deposit account interest				2	3
6.	INCOME FROM CHARITABLE		ACTIVITIES
					2022	2021
					E	F
	Grants				254,513	44,485
	Fees receivable				92,979	29,926
					347,492	74,411
	Grants received, included in the		above,	are as follows:	2022f	2021
	Arts Council England - Priority Venues Esmhe Fairbaim Foundation				13,500 6,000	24,981
	Cotwlnston Charitable Trust				20,000
	Hodge Foundation Welsh Government					5,000 3,000
	The Goldsmiths' Company Charity Co-op's Local Community Fund The Austin and Hope Pilkington Trust Associafion ofVoluntary Organisations The Sir Jules Thorn Charitable Trust			in Wrexham		3,000 1,504 5,000 1,000 1,000
	UK Government -VAT and Brexit Grant				1,500
	Darkely Trust Fenton Arts Trust - Laboratori				2,600 5,000
	Gwendoline and Margaret Davies Trust John SCohen Foundation —Wild Thoughts				3,000 5,000
	Chapman Charitable Trust Millennium Stadium Charitable	Trust			1,000 2,200
	National Lottery Community Fund Waterloo Foundation				10,000 10,000
	Arts Council of Wales -Connect		and Flourish		37,985
	Garfield Weston Culture Fund				118,465
	Esmhe Fairbaim Foundation - Learning			Lead Dancer	18253
					254,513	44,485

Raising donations	Raising donations	Raising donations		and	legacies	legacies
								2022	2021
								E	E
Fundraising support									1,800
Other trading	activities
								2022	2021
								E	E
Merchandising	costs							416	?0
Aggregate amounts								416	1,870
CHARITABLE	ACTIVITIES COSTS
							Direct	Support
							Costs (see	costs (see
							note 9)	note 10)	Totals
							E	E	E
Advancing arts	and		education			through
dance							1,047,699	339,445	1,387,144
DIRECT COSTS		OF		CHARITABLE ACTIVITIES
								2022	2021
									E
Staff costs								567,399	486,430
Rent and rates								43,587	42,959
Insurance								15,910	11,807
Light and heat								21,022	19,025
Telephone								2,118	2,458
Postage, stationery			and		subscriptions			3,947	3,120
Publicity and marketing					costs			4,981	5,545
Travel and training								50,090	6,296
Repairs and maintenance								1,903
Direct production		and dance				team fees		275,401	142,176
Cleaning								12,354	6,262
Staff welfare								4,974	4,319
Staff recruitment		fees						5,995	16,038
WMC sinking fund								24,636	21,971
Grant underspend		repayment							3,051
Depreciation								13,382	14,811
								1,047,699	786,268

STAFF COSTS
			2022f	2021
Wages and salaries Social security costs Other pension costs			697,142 57,035 27,276	632,763 51,231 27 361
			781,453	711 355
The average monthly	number ofemployees	during the year was as follows:
			2022	2021
l			27	32

						Unrestricted	Restricted	Total
						funds	funds	funds
						E
INCOME AND ENDOWMENTS				FROM
Donations and legacies						996,550	82,250	1,078,800
Charitable activities
Advancing arts and	education		through		dance	32,926	41,485	74,411
Other trading activities						27		27
Investment income						3		3
Other income						506		506
Total						1,030,012	123,735	1,153,747
EXPENDITURE ON
Raising funds						1,870		1,870
Charitable activities
Advancing arts and	education		through		dance	991,425	130,176	1,121,601
Total						993,295	130,176	1,123,471
NET INCOME/(EXPENDITURE)						36,717	(6,441)	30,276
Transfers between	funds					~6441)	6441
Net movement in funds						30,276		30,276
RECONCILIATION	OF FUNDS
Total funds brought		forward				28,106		28,106
TOTAL FUNDS CARRIED FORWARD						58,382		58,382
INTANGIBLE FIXEDASSETS
								Website
								costs
								E
COST
At 1 April 2021 and 31 March 2022								12,008
AMORTISATION
At 1 April 2021								6,604
Charge for year								2,402
At 31 March 2022								9,006
NET BOOK VALUE
At 31 March 2022								~3002
At 31 March 2021								5,404

16.	TANGIBLE FIXEDASS	ETS
				Furniture,
			Improvements	fittings
			to	and	Motor
			property	equipment f	vehicles F	Totals F
	COST
	At 1 April 2021		780	71,322	30,709	102,811
	Additions Disposals		12,297	15,122 ~593)		27,419 ~593)
	At 31 March 2022		13,077	85,851	~30709	129,637
	DEPRECIATION
	At 1 April 2021		273	36,298	28,566	65,137
	Charge for year Eliminated on disposal		566	9,759 ~593)	2,142	12,467 ~593)
	At 31 March 2022		839	45,464	~30 708	77,011
	NET BOOK VALUE
	At 31 March 2022		12,238	40,387		52,626
	At 31 March 2021		507	35,024	2,143	37,674
17.	DEBTORS:AMOUNTS	FALLING DUE WITHIN ONE YEAR
					2022	2021 f
	Trade debtors				17,563	2,709
	Other debtors				1,753	1,753
	VAT				18,438	8,617
	Prepayments and accrued income				261,571	67,440
					299,325	80,519
18.	CREDITORS: AMOUNTS FALLING DUE		WITHIN ONE YEAR
					2022	2021
					E	E
	Trade creditors				84,800	23,935
	Sociai security and other Other creditors	taxes			15,711 37,593	15,176 7,827
	Accruals and deferred income				184190	281,251
					322,294	328,189

Minimum lease payments under non-cancellable operating	leases fall due as follows:
	2022	2021
Within one year	17,187	11,937
Between one and five years	1,156	18,343
	18,343	30,280

Lease payments	recognised	as	an expense in the year amount	toE11,578(202	1:E10,109).
MOVEMENT IN	FUNDS
				Net	Transfers
				movement	between	At
			At 1/4/21	in funds	funds	31/3/22
				E	E	f
Unrestricted funds
General fund			56,712	33,206	(3,619)	86,299
Associates fund			1,670	~5,289)	3,619
			58,382	27,917		86,299
Restricted funds
Dance for Parkinson' s				23,178		23,178
TOTAL FUNDS			58,382	51,095		109,477
Net movement in	funds, included		in the above are as follows:
				Incoming	Resources	Movement
				resources	expended	in funds
				E	E	f
Unrestricted funds
General fund Associates fund				1,138,626 7,315	(1,105,420) ~12,604)	33,206 ~5,289)
				1,145,941	(1,118,024)	27,917
Restricted funds
Arts Council England - Priority Venues				13,500	(13,500)
Dance for Parkinson' s				42,000	(18,822)	23,178
Esmhe Fairbaim	Foundation	-Grants plus		6,000	(6,000)
Plethu				1,500	(1,500)
Esmbe Fairbaim	Foundation	- Learning
Lead Dancer				18,263	(18,263)
Cultural Recovery	Fund			40,001	(40,001)
Colwinston Trus't	- LUDO Grant			5,000	(5,000)
Weston Culture Fund (Garfield Weston Foundation)				118,465	(118,465)
Arts Council ofWales - Connect			and Flourish	37,985	(37,985)
John SCohen Foundation —Wild Fenton Arts Trust - Laboratori			Thoughts	5,000 5,000	(5,000) ~5,000)
				292,714	269536	23,178
TOTAL FUNDS				1,438,655	~1,387,560)	51,095

Comparatives fo	r movemen	t in fund	s
						Net	Transfers
						movement	between	At
					At 1/4/20	in funds	funds	31/3/21
					E		L	E
Unrestricted funds
General fund					28,106	35,047	(6,441)	56,712
Associates fund						1,670		1,670
					28,106	36,717	(6,441)	58,382
Restricted funds
Arts Council England - Priority Venues						(3,051)	3,051
Esmhe Fairbaim Lead Dancer Cultural Recovery	Foundation Fund	-Learning				(4,924) 1,534	4,924 ~1,534)
						6,441	~6441
TOTAL FUNDS					~28 106	~30 276		58,382
Comparative net	movement	in funds, induded		in	the above are as follows:
						incoming	Resources	Movement
						resources	expended	in funds
						f.	E	E
Unrestricted funds
General fund Associates fund						1,022,532 7,480	(987,485) ~5,6)0)	35,047 1,670
						1,030,012	(993,295)	36,717
Resb icted funds Arts Council England - Priority Venues Dance for Parkinson' s						17,804	(3,051) (17,804)	(3,051)
Esmhe Fairbaim	Foundation	-small scale
touring Esmhe Fairbaim	Foundation	-Grants	plus			10,436 1,500	(10,436) (1,500)
Plethu						3,000	(3,000)
Esmhe Fairbaim Foundation Lead Dancer Cultural Recovery Fund		-Learning				13,045 7?050	(17,969) ~76416)	(4,924) 1 534
						123735	~130,176	6,441
TOTAL FUNDS						1,153,747	~1,123,471)	30,276
Restricted funds
Arts Council England - Priority Venues			-Funding		received to support performances		in England.

			2022	2021
			F	F
INCOME AND ENDOWMENTS
Donations and legacies Arts Council ofWales revenue Other grants and donations		grant	843,362 96673	843,362 235,438
			940,035	1,078,800
Other trading activities Merchandising			430	27
Investment income
Deposit account interest
Charitable activities
Grants			254,513	44,485
Fees receivable			92,979	29,926
			347,492	74,411
Other income
Gain on sale oftangible Rents received	fixed assets		100 10,522	375
Other income				131
			10,622
Total incoming resources			1,298,581	1,153,747
EXPENDITURE
Raising donations and Fundraising support	legacies			1,800
Other trading activities Merchandising costs			416	70
Charitable activities
Wages Social security Pensions			510,291 38,806 18,302	435,410 32,960 18,060
Rent and rates Insurance Light and heat Telephone Postage, stationery and subs Publicity and marketing costs Travel and training Repairs and maintenance Direct production and dance team fees Cleaning Staff welfare Staff recruitment fees Carried forward			43,587 15,910 21,022 2,118 3,947 4,981 50,090 1,903 275,401 12,354 4,974 5,995 1,009,681	42,959 11,807 19,025 2,458 3,120 5,545 6,296 142,176 6,262 4,319 18,038 748,435

					2022	2021
					F	L
Charitable activities
Brought forward					1,009,681	748,435
WMC sinking fund					24,636	21,971
Grant underspend repayment						3,051
Amortisation of intangible			fixed assets		2,162	2,161
Depreciation of tangible		fixed assets			11,220	12,650
					1,047,699	788,268
Support costs
Staff costs
Wages					147,118	165,154
Social security					13,922	14,798
Pensions					7,186	7,720
					168,226	187,672
Other
Rent and rates					7,842	7,710
Insurance					1,768	1.312
Light and heat					5,256	4,756
Telephone					530	614
Postage, stationery	and		subs		11,366	7,120
Other expenses					2,501	3,353
Publicity and marketing			costs		24,953	30,611
Travel and training Repairs and maintenance					15,692 11,850	9,277 14,174
Cleaning Staff welfare					3,088 106	1,565 124
Bad debts					68
Legal and professional					19,614	11,689
WMC sinking fund Bank charges Staff recruitment fees					6,159 937 5,995	5,493 2,123
Amortisation ofintangible			fixed assets		240	240
Depreciation of tangible			fixed assets		1,247	1,406
					119,212	101,567
Governance costs
Wages					39,733	32,199
Social security Pensions Auditors' remuneration					4,307 1,788 3,400	3,473 1,581 2,290
Auditors' remuneration Costs ofmeetings		for non-audit		work	2,430 349	4,501 50
					52,007	44,094
Total resources expended					1,387,560	1,123,471
Net (expenditure) Iincome before taxation					~88.979)	30,276
Theatre tax relief					140,074
Net income after taxation					51,095	30,276