2023-03-31-accounts

REGISTERED COMPANY NUMBER.. 01672419 IEngland and Wales) REGISTERED CHARITY NUM8ER.. 326227 REPORT OF THE TRUSTEES ANQ FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 FOR NATIONAL DANCE COMPANY WALES MHA Charteied Accountants & Statut￿ Auditors Eifed H(yJse Oak Tr8e Court Cardiff Gate 8u$iness Pa CARDIFF Covnty of Cardiff CF23 8RS AC8LIGVS 0710912023 COMPANIES HOUSÉ A22

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NATIONAL DANCE COMPANY WALES CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Pa R•port ofth• Chair Report of the Trustees 2 to 15 Report olthe Indep•ndent Auditor 16 to 18 stst•m•nt of FIna￿la1 Adivities 19 Balance Sheet Cash Flow Statement 21 Notes to th• Ca$h Flow Siat•mènt 22 Notes to the Financial Statements 23 to 35

NATIONAL DANCE COMPANY WALES REPORT OF THE CHAIR FOR THE YEAR ENDED 31 MARCH 2023 I was delighted to be appointed a5 chair of knjstees in the Summer of 2022. The ￿asOnS 1 wan18d 10 Join NDCWa185 w&re th• opportunity lo contribule to a cr8ab"¥e organisation leadiThJ in its field of contemporary dance and one Ihat works to d8lNer sooal Change. I have always loved dan￿ myself and from rny recent expenence on boards such as Sport Wales and Cardiff Metropolitan Univer%ty, I can see the Impact on people of eAalAing all people lo be active and find joy in creative expreson. We seek to share that joy by linkn'ng vrilh olhÈTS w0￿1n9 in educabon. health and wellbeing and Ihe arts. 11 has been inspiring to join as Artr51ic D1￿ctOr Matthew Robinson w85 both ueab.ng his own work and enabling collaborations wtlh exciting new talent frcm Wales and intemationauy. Emérging from Covid enabled us lo tour fvlty or￿ again. present loved pieces and new works and reconnect wth audiences arwj our Dance Arnbas58dors, are speryalist darKe engagement arttst5 working with cornmunitoes acr05S Wales, arKI in two ENJlish l¢xatiorb5. Audrence number5 have risen and we have brought enjoyfflenl by creating access for more peoFAe. &Jr expeiiances infomt fulure tounng, how THoth Trs wes8nted an¢J how w? t￿linUe lo ena￿• wider accss. This May we ctlebrated our Wh year wih a locus on PlèwlNawr and Ihe fulure. givirrtj us the chance to thank past and present supporters as well a5 open Ihe worfd of dance to new peopk. The highlwt ol NowlNawr was Galhenro. cwr seTh out cdebrat#)n at the Shemian Theatre in Cardiff. The event showcased a range of our activity. incl(Jding performances by our ￿￿nde￿I t￿leSS1O￿al dan￿rg and our Young Ass(￿lates. our youth compary. My rersonal h￿hI￿ht was seeing young people of P8nrhys dance ano bèatbox as a result of their cdlaborzt￿jTr wilh Dean Yhndl, Sandra Hami5h-Lacey and Kyle ste￿1. This ambitiOU5 long-term co-crealion project briros arts and non-arts partnets tLy3ether wlh the c(Nnmunib"es of Penrhys and the surrounding Rhondda Cynon Taf area, and has run since 2018. The company demonstrates the powerful benefits of dance in ils Dance for Parkinson's wort enabling people lo enjoy movement arKI keep achve in four thations across Wale5. Our heallh-rdated wixk wa5 recognised with an Arts & Business Cymru award for our collaborat￿n ￿th Cartrefi Cymru Co-operatsve which explore4J how movement can benefit care st8ff supporting peO￿e wlh leamin9 disabl1￿e5. It created new ways for stall to support their physical and mental wellbeing and ins￿re a ll¥Jd81 thal could, in luture. benefil siaff working in a lange of care Settings. This was d8liv•red wth support from an Arts CO￿¢1 ofWal•s Heallh and Welb•mg loitery grant. NDCW8les 15 Part of a vibrant dance cullure in Wales, and we %iN continue to seek ways lo collaborate wtth others, learning from local al￿ intematl￿al arlisfs lo infom the devel01N￿ent ol aspring taknl across Wales. An aspect of Ihis is Discover Oance for 7 to 11 year olds where young people expkjre their interest in danciro bn'nging their inquisitive and enquirin9 minds io ask Insight￿￿ and probiry questsons of ¢)ur dancers. 2022r23 rapresented a recovery from Ihe damaging consequences of Co¥id and il was with joy that the organisation was able to open and minds lo acbjal people and events. Tho Uncertainty of Govid has moved inlo the ￿Cer￿ty of inflabonary pressure from war in Ukraine., wa have nvesligated the risks arbd put in plar effectwe mitlgation as a ￿nSeqUenc. The board reviewed their nsk appetite and approach with external support to ensure wr valLFes and behaV￿)urS match the risk landscape ntsw. This exe¥eise created a new n5k apprauaiion and rnethodology to support 9rowth. The chief executsve an¢Y lea¢Je(ship team have investe(I time Tn Ihe creatson of a rnew business plan which inforrned our Investment Review submission lo Arts Council ol Wales in March 2023. A task and finish group ol trusiees reviewed and inputted into the strategy. buil¢Ying on our strengths and c￿ating new ways to inspire people through dance. This compelling bid will fulfil our ambitions and th￿r5. and we have aLso devekyed new révenue streams fram grant and Commercial roui8S. Given the Lmcertainknès ol our world. we hav• wcyktd on a rnnge of scenaiios and imagined new futuies slaying true to our vision of 'a woflil enriched by danee,. The year ahead will bnng new opwrtunilies and challenges.. we are excited to ensure NDCWales plays Its part in de¥ekswg the cr•alive capabi&ty and wellbeirwj of peO￿e in Wales and beyoThd. Alison Thorne Chair of Trvslees. National Dance Company Walps Page 1

NATIONAL DANCE COMPANY WALes REPORT OF THE TRUSTEES FOR THE YEAR ENOEO 31 MARCH 2023 The trustees, who are also direclors of the charity for Ihe Purposes of the Cornpan￿ Act 2006. present their report with the financial 51aletnents of the charity for the year ende<l 31 March 2022. The trustees have adopted the provisions ol Accounbng and Reporting by Chanties.. Statement of Recornmended Practr'ce apph'cable to charities P￿ParIng their accounts in accordance with the Financial Reporting Standard ap￿￿￿ble in the UK and Republic of Ireland IFRS 102) leffeclive 1 January 20191. OBJECTIVES AND ACTIVITIES Objeetives and airns The objects. as stated in the govemirvJ documents, a￿ to ￿Ucate the wtslic in Ihe arts and saences and in particular the art and scrence of dan￿. Mu￿¢ and drama and ftmrre. Natstsnal Darte Cornpany Wales. INDCWaJesl prirKipal rt11￿tiVe is the advancement of. and education in dance The Company tours to thealies across Wales, the UK and inlernali(ially. It Creates dan￿ projects, one￿ff events and ongoing programmes in Wales that give local pewe chance lo dance themselves. working wth NOCWales d8ncer5 and dance ambassadors. We believe Ihal dancing is for everyone - people of all ages. backgrounds and abl￿tieS. To 8chi•ve that. we work with sthools. colleges and cornmunitie5 to give peo ￿e an experienc8 of dancing lor thèmselves. Programmes such as Discover Dancè and &%soc4?ted workshop prograrnrnes alè desfgn8d lo enc￿rage young people to ttance, whilsl our Wofk in the health arena explores h￿¥ we can eTrable cdder and disabled people lo dance, to alleviate health Conditions and to ins￿re Greativty. The Company seeks lo divers.fy and buikl new aUd￿n￿ and pathpants for dartt. as deepen connectrons in every comer of Wales and other places we twr. fostering co-c￿ation projecis in places vthere Ihere is little opportUn￿Y 10 58¢ or watch dance. By working with cornrnunitv&s whth have exper[e￿ed the greatest harm during Ctswd an¢J cost ol lsving crisis, improving access of all kinds arKI by wOrk￿g wth dFvew artists, our audiences are mor• diverse than ever To address this, we aim lo mee¢ new audiences. by creabng new and drflerent ways to share our work, in unusual and surpnsing places. taking dance beyond theatres to 5choo15, cofflmunity spaces, out¢oots ané found spaces. By being resident for longer periods in venues we foster deeper underslandirJ of the cl￿panY and create nèw opwrtunthes to experience dance for k)cal people. In order to diversify w￿ watch85 and p8thipat85 in our work, w8 W8nt to r8flect the P￿pIe of Wales in who we commission and work with as artists. board membets staff. W• ale also improving access lo darKe for Deaf and disabled people. As a national company ol Wales, we advocate lor dance as an artfomi. for its abflty to transform the world around us. Our work values performance and engagernenl eoualty. inlerweavin9 Ihe opportunity to d3nce with the chanc8 to witness dance rellects'ng rnany voic8S. NDCWalès is just one part ol an active Welsh dance oymmunity. shariThJ its kn￿e<l9e and conneCti￿S with artists, tjance promoters and those who wort( in partiupatory dar￿￿. colla￿tH￿s Wth other ciKnpaThes and artts15 enable the Company lo create new and diffe￿nt ￿ftds ofwNk and reath new audiences. By working alongside the wKler dance sector ol Walts, NOCWales fosters innovatb)n and ambition. investing in Wales-based artists and people's experrence of dance in Wales ￿ help create a Mbrant dar￿ culture for the nabon. Current and fvture collaborative projects inclLwJe work wth community dance artisls. bwth other national companies ol Wales. wth writers and with communibes on cthdesMJned Pfojects. The Company's home at the Dance House at Wales Millennium Centre in Cardiff is a place Whe￿ Independent Welsh dance Cornpanies and artists can access creab.ve inspirat￿ through ￿sIdenc1e$, research and mentoring. The Company offers a worl¢-class fa¢￿Tty for Ihe c￿allOn ol new dance which 1s central to Ihe Companls lealership role and as a resource for the dance sector in Wales. The Company works arbsts Irom Wales olferin9 access lo learning arnd other resources, such as offering res¢denties and arr￿$5 to ￿hearSal space to our ￿ Artistic Assouales. Through multiple training prtsgrammes the Company invests in the a$pirats"￿$ of young people, developng and supporting young dancers in Wales. Dance has a unique role lo play in edLTrcaliorn through creative leaming programmes which capilalise on its ability lo develop ￿￿fi1jence leam-working. lo overcome language communic81ion barriers, and develop sellsteem, enhancing kaming experiences and life chances of young peoFde across Wales. Our local internabonal collai)oralions with artists irtreasingly reflect the INed experien￿ ol many different communities. As we diversify tha arbsts we woth wth. we are ensuring Ihat our opeiakn.onal structures supwrt change and aquity. Page 2

NATIONAL DANCE COMPANY WALES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2r123 Volunteers play various role5 in the Companvs work. ￿K1￿11n9 as fnjstees and in supporlrng delivernng dance to health programmes suth as Dance for Pa￿nSOn'S. Th• Company monitors its W￿g￿&S using a Thjmber ol Inwt measures. i￿￿￿]Ing. - Audiènce and partirApats"on numbers and demcJraphics - Monitoring the cntical reswjnsé to ihe woth created and perlormed - Achieving the change set tyjt in our Equalty and D￿erSity Acbon plan - Diversifying ancl increasrng income - Finèncial perfomiance - Monitonng staff retention and Salisfactrjn level5. 2022123 Objectives The Company revi51ted its Bugness Plan ￿ Aulumn 2022. Our vision Is a world enriehed by danee. We dance to eKpres$ tdeas beyond words. exploring what it means to live In Wales and the world now. We are of many voices. in many places. working together to ¢onnect and transform. Part of the role ol a contemporary national company of Wales is to shape Wales. We help it to imagine itself. enabllng the nation to rem9nise the part5 01 itself that are not often seen. Our intematK)nal work reflects ihe that the wodo is already in Wales - not leasi through eA)knni81 histrMy- SO OUT inlernaliDnal v￿￿tir0 Telalès as much to our ènvifonmenl as it does to others. Our priorili•s are-. - Widen engagement across our work by ￿aCIng juS￿e al the heart of everything we do - Champion Innovation and excdlence in dance, nurturing tal8nl a￿1 ena￿l￿g change - Advocate lor tYan￿ as an essential plaffomi ftr human ex￿$$￿)￿ and wellbeing - 8uild on our ￿lIrty. suStaina￿lIty ar¥J fina￿ath re￿i￿￿e. Company Values Curlou8- lo discover rthw ideas. to learn and iM¢)vate. Collaborative - in Ihe way we connect wnth each other. artists. corythuniiies, aLKliences ar¥J partrer5 in and beyond the cultural sedor. Courageous- in Ouf afflbition lor darKe in Walès and the *Yxld, thampioning than9e. Genèrous - by sharing our passion, knowledge and fesources. The exècutive team during the year was made up of Chief Executive Paul Kaynes. Artisth"c Diwtor Matthew Robinson. OperatM)ns Director Kelly T￿318, Executivè Producer Chris ￿.¢￿elts Ifrom Augusii and COMMUn￿tIonS Director. Ceri Puckètt Iwho later left after the end of the frnancial year). Alison Thorne was appointed Chair ol Tnjslees in Juty 2022 lor an initial IhTee-y8ar lerm. HeT backwund in Telail, sport and govemance ha5 5UPPOrted the Company as il c¢)nb"nues lo navigate change. The board off8r5 a range of ski115 an knowledge to 5UPPOrt the executwe leam and provide5 a high level of scrutiny. ensuriry that the Company perfomis al an opts'mum level and mana9es its programme elfectsv81y. The Board meets quarterly and is supported in its woth by hvo sub-commillees_ The People and Financè Sub-commiltee meets quariedy lo scrutinise and report io Ihe full Board on the Company's financial performanc8. risk moniioring and the creation ol new staffing and other poliries and action pfans. The Chair ol the Committee is Cathryn Allell. Its additional members are HLWI Davies, G￿VannI 8a5ileib". The Chair is an ex-officio member of the sub<ommittee. An ex-officio mernber ha5 vob.ng rights lo prevent any gJs5ible COnfl￿t when sub-committee recommenda￿.0￿5 ar8 considered by the Board. The Second sub<ommittee is the n￿Y-treated Aibslic Advisory Group. which reports on Ihe Company's progr8rnme and its impact. and acts as a sounding board ft)r the artssb"c planning team. il cornsisls of Iwo trustees Williarn James and Krystal Lowe, along wlh k)uf external members. Page 3

NAMONAL DANCE COMPANY WALES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 OBJECTIVES AND ACTIVITIES Public benefit The Iru5tees can confirm Ihat they have given consideration to the Charity CornmissKJn's guidance Public 8enefit, and they con5Kler that they have lulfilled their awns of advanung the arts through publ￿ performances, e(lUcat￿oN and pa￿CIpalOry acliv%ty. and the nurturing and dèweloprneni of individual darth artists. The Companys work aims to be accessible and indusive lo people of all ages and backgroLmds throUgh￿t Wales. the UK and inlernabonally. The fvll scope trf this wolk is illustrated in the folJoing Summary of Aclivity for the year. ACHIEVEMENT AND PERFORMANCE Charitable activities The Year 2022123 in Review Since Ihe Autumn o12L122 the Companls peth[￿ar￿ programme has been part of ovr year long season NOWINAWR. created to mark our 40th year as a dènce company. NOW wès c(trnceive(g as a vehicle to reveal ekments of our Ireshed artistic profile and the b￿a0th of what we do. indicab.ng our futu￿ d1¥eCt￿)n to audience and stakeholders. We were delyhled to receive 5UPPOrt from the col￿nStOn Charilable Trust a generous granl to support NDCWales in Its 40ih year and the delivery of the wo9rarnme of wlhin the NOW season, was the fifst lull seasorTr Curated by Artistic Director Matthew Robinson. Full details of the NOW programme are detaled in Ihe nexi seclK)n. 2022123 started wih a UK theatre tour ot ten venues across Vvaies and ENJlaTrJ. Audnces had not reiumed ift the ntjmbers before Covkl and Ihealres had not yet resumed a fvll progrdmffle. Schools and ￿llege5 w8re gra(Jually returning bul ift much smallèr numbers ts￿￿ before. By U)e end of thè year, when we mounted our 2023 spnng lour. i( was dear that audiences ha¢J stsrted to retum in much larger numbers. and venues that had not prrpJrammgd the Company since 2019 were re•ngaged. Iwh sGhools colleges rernain hartler to engage than pr8-2020. The number of audience and participallon Intera¢t￿n$ with Ihe Company and its programm85 of work during the year was 97,07B. 12021122.. 7.9521. Of those, 81,300 were attending the France vs Wales w9by mat¢h in Paris where the Company perfomied at half time in Mar¢h 2023. Without these exceptional audiences. the figur• land a more accurate comparison) Ts 15.778. In addition. a further 370,061 people watched di9ltal ¢ont•nt online or filmed work$ on TV12021122: 428.613)- Produ¢tion and Perfomiance In spring 2022 we t0￿re￿ lo m￿-S¢ale venues ￿ Wales an(J the UK or** mrKe, ￿1h three works designed its reconnect us with audiences. and to er￿OUrage audience5 back to vtnues. This tour was called One AnotherlLaw yn Llaw, and included two new works. an¢J a rework of a ple￿ fi￿1 made lor us in 2019. The lour was supported by the work ol our Dance Ambassadors. dance artists based across Wales and in Eroland. who createij b(Ah live and digitsl curtain raiser events prior to Cornpany performances in many of the venues visited, bn'n9iThJ kncal dance making along51de Company work5. NOWINAWR. commenced in November with PARTI in Ihe lowr￿ of Ystsdgyniai5 aryl Ammalllord with 8n evening CO-CTeated wilh mernbers of both cornrnunitie5 wh￿h was generou51y supported by the Foyle Foundah"on and an Arts Council for Wales Cieate lomery grant. It w85 a Wh￿lY bih"ngual community-f(xxJssed celebration Df creativity and (Jance. with laughs along the way and a t￿path (Welsh c￿le¢1[Ve folk ¢Jancel at Ihe end. Hosted by Orag Artist Connie Orff we broughl logether Ihe first Wotk by Mallhew Rob")nson IOT Ihe Company INo-Showl. a work made wilh our dancers atKJ community members by Emily Robinson IAnd the￿ were people) and a trio by Thomas Carsley (Fan ihe Flames). The bvmpath saw the entire audien￿ danong on stsge live music by Alan Yn Y Fan. PARTI rep￿sented the development of a successful perforrnance model, strewthened by havin9 an intergenerational group of community CO-C￿al0rs and leanNng gamered is feeding info future iterations. Following inlemational perforrnances of existr.ng work fn the winlec we brought PULSE to stage in Ihe spring of 2023. PULSE featured the relum ol Marcos Morau to the CcThp8ny with a refreshed version ol his wDrk Waltz. Thi5 was paired with a new cofflmi55Km lor arhsts Sarah Gokling and Yukiko Ma5ui {SAY}, collaboratirKJ wlh bealboxers MC Zani and Dean Yhnell. Tounng to seven venues in Wales and three in England. t￿"S was the first evening piogratnme wholly Curated by Artistic Director Matthew Robinson. 11 saw the highest audiences al Ponbo In Bangor since the Comp8Thy started wsrting there, and the best audience at Har￿n. Newtown fN a decade. The PULSE programme wll continue to tour in the new financial yeai. Page 4

NAnoNAL DANCE COMPANY WALES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 Extracts of the work created. Say Something, were perforn￿d at Slade de France in Paris durirvJ the hall tirne of Ihe six nations rvgby match between Wales and France In Marth 2023. Dean Yhnell and the dènceTS also performed at the British Embassy In Paris to mark the beginnirvj of the year of Wales in France. The perfomances in Paris represented a brilliant opptsrtunity to showcase the C¢>mpany to a very large audIer￿. cOns￿￿1ated links wrth the internation81 division ol Welsh Go¥efnmenl, and demonstrated the unique role Ihe Company can play in hèlping supw)rt cultural felalions. After Ihe year eryted in May 2023, we presented GalheriwJ. an eveniNJ to mafk our 40th ￿"rthday. al Ihe Sherman Theatre in Cardiff. The eveniro induded a prerniere of Matthew Robinson's new worfc September, the Company s Young Associate5 sharing work by Jack Philp. a pertormance of Say Sgmething. and a shohwase ol the work of th8 young peoth invL4v8d in the Penrhys-based project. Tu Hwnt i'r GofynlAbove & Beyond Tme NOWINAWR season conkn.nues Lmtil the end of Decem￿ 2023. Key lo our Success in building new a￿d￿r￿ 8nd participants for dance 15 our Priority Venue programme. In each of the ighl venues we create a plan to offer partFrypatory opportunib.es for local lfflainly young) people and invest in targeliThJ new audiences for the Companls work and Ihe venue's wder dance prtyJramme. The eight venues are Pontio in Bangor," Taliesin in Swansea., Theatr cfwyd, PAold." Hafren in hlewtown.. Th*alr Brycheinioy in BreGon'. Aberystwyth Arts Centre,. Defby Theatre. and the LawTer￿e 88￿Y Theatre in Huddersfield. The En9hsh venues. prograrnme was SUPPOrted by Arts CwnGiI England. The Company of dancers are at the heart oftyJr wort and emtoty tyjr aspirnbons for whal ¢Jance in Wales Can be. In the last couple of years, the Company has slfenglhened and deepene(l its skills by developing individuals in the Company. We are a maturè and stable cotnpany of excellent dance￿ able to deliver superb èveTrings ol danc8 Wtulst also being able lo respon¢Y to the request for a piece al Ihe France-wales Six Nat￿n$ match ift Pafis in Maich 2023 al short nobce, and w(yk so gen8T¢)usty wlh community perfonTWS in projects such as PARTI. The work$ Staged during the year were.. PULSEIPWLS Ilouring spring 20231 Waltz by Marcos Morau Say Something by Sarah Golding y￿ik0 Masui ISAYI DISCOVER DANCE (touring spring 20231 Why are Pec4)le Clapping?! by Ed Myhll PART¢ {November 2022} Fan the Flames by Thoma5 C3rsley And there werè people by Emily Robwison. cfrrreated vrilh perfomièr5 No-show by Matthew Robinson In p￿VIeW (March 20231 SEPTEMBER by Matthew Robinson ONE ANOTHER I LAW YN LLAW Iloumg swing 20221 arml AT HOME (December 20221 Ludo by Caroline Fin Wild Thoughts by And￿a Costanzo Martini Codi by Anthony Matsena Page 5

NATIONAL DANCE COMPANY WALES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 Dance Participation and Learning Engagement is key lo who we are as a Company and what we ¢Jo, enabliThJ us to ¢Jeliver social impact and long-lem7 charige lor the people we engage. Our ￿￿tIOn, perfoftnance and eThJagemenr pfogrammes infom) each other, putting artists and thei¥ work in dialogue with communiknes. audTenEes and part￿panIs. In Ihe year 2022123 we expanded the Engagement Team, recruiting a specialist Engagemenl Arrist anLI a Team C04)rdinator. After the yèar ended, we recruited a new producèr. bringing the ieam to full 5tren9th. Our work falls into three areas. WE INVOLVE. By inviting ￿llabOratiOn aNI Onc￿141n9 pat￿lpaI10n. we woth Feople wthwe Ihey are. We aim to broaden access and enhance wellbeirg for all ages by pr¢)moling physical aclivity and ¢re81ive engagement. Across VVal8s we engage a nefvnrk of freelance arbsts who are embedded in place. This Tre￿0rk develops ongoing comrnunity relationships, collat>oratively devek>ping I￿9 and short-lemi projects. Embracing co<￿ation. cornmunilvds Staer the directson of shaied projects Ihat are root8d place and CL¥nrnunty ambition. WE DEVELOP. Our tslenl development programmes supp)rt those ￿th as￿rat￿nS for a career in dance. on and off stage. Specifi￿llY lor young people we seek to nurture potential and encourage physical and mental wellbeing to enable sustainable development as indtwdual arbsls. H) an evrAving da￿e sector. Our Audience Insight prograrnmes open up dance and creative process. offering opKNNiunrtie5 to understsnd how and why we do what we do. We him to reach new audiences and ¢Jeepen exi%(Ing audiences. appreoation of dance. WE ENABLE. We want to be part ol a Ihriwng. diverse Welsh dance ecology. We enable artistic innovatioTr and development through DngoiTTrg and proiect-based programmes, develo￿ w> dkalogtje and collaborabtrTh with othèrs In the Welsh ¢ance sector. We e￿a￿e Welsh and Wales based choTeographic artists to fulfil their artistic aspiraticsns with spa and lime, supwrting work wh￿h aligns tyjr strategic ams wrr#)se. The projects deliveffjd during 2022r23 induded.. -Tu Hwnt i'r Gofyn l th)ve & Beyond. is an ambitious long-term, co-creation project which brings arts and nonort5 partners together with the ctsmmunith.és ol Penrhys aftd the surrwn¢Jing RhoThJda cyn￿ Taf area, wfiich has njn since 2018. We are meeting a community wfre it lives. exobng il about art through the mediurn of dance and music, engaging and inspiiing Peop￿ 10 change Iheir lives Ihrovgh making art, whilst being mindful of the cost-of-living crisis_ During 2022123 fft phases of the project. supw>rted by Arts Council of Wales kjttery grants, saw 8 Ihree-day summer cultural fesb'val for the population ol Penrhys, weekly sessions of dallce and beatboxing primarily lor young peO￿e ar¥J regular dance arKI yL¥Ja Se55￿nS for garefjts. The irnpacl of the work is being thoroughly dcKumenle(J and shows Ihat wple's lives a￿ tie1r￿ tharoed for the better, especially t1￿ in schod. -Oiscover Dance is a programme fly 7-11 year c4ds whth tours lo theatres alongside our evening wograrnmes, lor eilhef schools or larni￿ audiences. The first haLf of the programme sees the audience invited to join the Company on slage in small groups lo loin in Mth dar￿e dass. and learn d8ments of a featured work which is th8n perforrned In the second half. I{￿lOWed by a Q&i Young people parbopate fulty. explonng I￿r inltrest in dancing, an¢J bnnging their inquisih.ve •wuiring rn￿dS to ask insKJhfful and probing questions of our dancers. -Oance lor Par*inson's in four locatsons in North aThJ S¢yJth Wales.. Ponlio Baroor. Coleg Cambria, Wrexharn and South Wales Blackwood Miners Inslitute. Caerphilly and The Dance House. Cardiff. in collab￿alKIn with English National Ballet. Moving frorn O￿lne to In person delivery. the da55es are now offering b.ve connec￿￿ and Social ¢ontsct. The BarvJor wogramme is deliver•1 biliTrJually. -young Associates programme in Cardiff." Our Young Assooates have been folsowrtng a iefreshed progfamme, the framework of which was developed in 2022. Be9inning in Sepiember 2022. they join us each Sunday for a prcrfJramme of physical and creatNe development. Alongs￿e Ihis. they have created work with bDth Jack Philp lour Engagement Artist) and Artistic DI￿tOr Matthew Ro￿.ns0n. In the win18r of 2022. we hosted Launch our refreshed youth dance nyht which brou9h together youth dance groups from across Wale5 for perfommnce, sharing and neiworking. The Young As$(￿lateS consist ol around 18 young peO￿e from across South Vvabs who expenence weekly dance s85sions Induding classes in var￿)US disuplines and creative explorats(￿ designed lo give except￿￿￿ young dancer5 Ihe chance to devekjp skills and knO￿edge to equip them their future dancing liv•s. Page 6

NATIONAL DANCE COMPANY WALES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 -Dance Ambassadors are freelance dance artists linked to Ye￿e$ in Bangor, Mold. Br￿on. Aberystwyth. Swansea. Derby and Hudder5field who work lo support NDCWales' tourirKJ Wgrk. Dall￿ Arnba5sador5 collaborate wilh local dance groups and activity. linhiThJ ti ￿ the wort ￿ the company. as part ol the Pr￿rity V8nues' programrne. .Moving Beyond ComrAiance was a pdot partnethp prOj￿t ￿Ing wth cart￿(1 Cymru co￿pera1Ne, which was awarded an Arts & Busines5 Cymru Award in Ihe Arts. Business & Employees category This pilot project was also in receipt tsf an Arts Council of Wale5 Health and Wellbeing Lottery grant and eXplo￿d how movement can benefit Cartrefi CymnJ Cooperative staff who support people leaming dI5abilibes. It was tJe5ign81J to explore new ways lor staff to support their physthl and mental Well￿•[Va and to also inswre a mc¥Jel that ctyJld, in future. benefit staff wDrking in a fange ol care setb"ngs. Wale$ Dance sector support NDCWales continued to sUp￿rt the dance sector in Wak5. Whilst not a dedicated dance agency lor the nation. we recognise the pnvilege our nats.onal Status bn"n95. and we share krK)wledg8 and resourc85 Ihrough commis510ning, mentoriThJ, resi¢Jencies and offering free studio sw. The Company ran the fourth Iteration of our svc¢essful programme of da￿e expkJTation lor Wales-based dance artists, called LabL)ratori. Trt5 choreographic menioring pr¢>3ramme at the Dance House in Cardiff was also hosted for Ihe first lime at Chapter in Cardiff. Chapterfs involvement enabled dance arti5t5 and vr5ual artls15 to pair up to explore areas of mutual inteiest and research. 17 Cho￿09rapher$, artisls and dancers from across Wales We￿ given a week of paKI exploration time under the lÈader5hip of Jo Fong and S￿ne￿ Huws. Swthoui pressure to create a perfOrrnar￿e outcomè. The Company was delighted to welcoN extemal dancets inlo daqy company dass, alk)wing Ihem free access to a range of brilliant 18a¢hers. A lofal of 167 dancers p8￿CIpated across the year. We also offered 630 hours tree and 158 hour5 at a d15counted rate for rehearsal and ueation spar£ for Wales-ba5ed artists through a new Slall¢Yby Studios inilotive, which ensures spa￿$ afe in use whenever the Company a￿ on tour. an(J through discounted or in-kind partnerships for performance or regular classes ilh loc21 artists such as We15h Ballroom Community, Wales Tamil Sanga, Richard ChapO1 Oance, Reuel ￿1￿h. Ballet CymrLt and Osian Meih"r. In partnership with Wales Arts Internat￿)nal. the Company co-ordinated the Welsh pre$8nce at the biennol international dance showcas• in Dusseldorf, Tan2me55e in August 2022. This successful research and study visit included a presence for a 'Dance from Wales. promots'onal tM￿th. vrith choreographers10sian Meilir and Richard Chappelll and a freelance producer and practitioner IKn5hnawya Ramamoorthyl also altending. The Inp vndedined how the market for international working for UK Companies is iting testricled. There is. however. the wlential for crealive collaboration as part of the way we retstn intematsonalism al the core of our work. Pagè 7

NATIONAL DANCE COMPANY WALES REPORT OF THE TRUSTEES FOR THE YEAR ENDEO 31 MARCH 2023 Access NOCWales is extendirTg how il make5 rts av8ilable as a way to read? more p80ple than ever b8fore. especialy those who are Deaf or ¢Jisabled. Th•rt artr a number ofways in which It has done thts dunng 2022123. The Company ha5 continued to increase Bntssh Sign LarrfJuage IBSLI suppotsd perfomances, with BSL provided as standard at events in Cardrff where this is an element ol SFX)ken word. which includes rnost events as Q&A's follow the maitinty of 0￿r pèrfomances. The Company also staged its fifst live audio4e5cfipbon events. at Shern￿n The81￿ In Cartjifl n spring 2022. where 3udience5 were invited to take part in a twch tour prior to the perforniar￿￿. with live audK) description offered during perforrnances. FOT the 5pnng toui in 2023. audio-description is offered al all venues, through the provision of a recording is broadcast livts lo people's Fknnes akMwJsNle performan(s. A relaxed vergon of Discover Dance w85 prwded fcrf a speci school at the Dar￿e Hwse in $￿ing 2022, and this ill be ￿peated in future years. NDCWè5 has made a commibmenl to accessible recruilment in order lo diveNfy its staff base, ensuring that all i)bs. opportunities and call outs We￿ advertised ￿th large print and audio options avaiLable lo all. and Ihat BSL was provided where possble. In 2022123 we created BSL vtdeos lor 16 opportunikn.es or events. Acr055 oui marketing rwtateria15 and projects, accessibility was made a priorty, extending audio options on all most idely used web pages. and digital programmes as well as prothjong audio and BSL flyers for One Another and Pulse tourn. All of NOCWales' vmleos a￿ SUbl￿e£l bilirKJually. and NDCWales has gwen suprx)rt to olher Welsh dance organisalions by offering trèining and videts instruclion on how to subtsue. and by subtitting olhefs Vhleos when they are unable lo do so Ihemsefves. Sustainability and Support 202212023 reflecled a new chapter in NDCWales' story and acted as a statement ol intent as we st8p into our future wrth curiosity. As we look to 202312024 we seek to develop partnetships and S8￿re support tsom a broad range of sources lo inv8st in NDCWales' lutufe ambition and execution OF C￿￿Y'S charita￿e objectives lo delNer on shared objectsves and strategic values. Th8re wer• a number of notsble fUndraI￿r￿j successes in Ihe yeat. ThJding receipt of the Company's first grant from Cockayne- Grants for the Arts and the London Community Foundatins and special O￿lne events. NDCWales retained the oVe￿helmln9 majority of its individual donors frcmn Ihe start of Ihe crisis aThY in some cases irtrea5ed givin9. 202212023 has been with(MJl its challenges, as we iellecl Ix) a h￿jh￿ c(xnpetibve and changed lundraising landscapè 8¢r055 buyness. individual av￿ 9ranl irK(wne the Fmpact of the parthmic.

NATIONAL DANCE COMPANY WALES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 21123 FINANCIAL REVIEW Financial position Total Incorne lor the yeaf was £1,359.0￿(2O22 - £1,298.5811 and total expen¢JTrture in the year was E1,611,24912022 - £1,387,5601, gNing a net expendilure posits.on bèfore lax relief of £252.159 12022 expendrture of £88.9791. Net expenditure the year after tax relief was e73,05612022- net income £51.0951. At the 31 March 2023 the eharity had net currènt 1kabdits.es of £19.185 Total tuTrJs at 31 Marth 2023 We￿ £36,421 12022 - É109,4771, 01 which £17,189 We￿ restricted lunds. As an 8xisling Arts PortfcAio Wale5 organisation. the Company has applied for funds from the Arts Council of Wales (ACWI as part ol its Investment Review lor fijnding for the peFMxI 2024-27. and as a result the future level of its revenu8 grant frorn April 2024 won't be known until October 2023. In addilion lo preparirvj budgets for the 3 years lo 31 March 2027 as of the Investment Review process the Company has tested a number of ￿enarrf>s covering 8 12-month pericKI from Ihe date of the s￿nIng ol these accounts, having iaken ongoiThJ economic pr8ssures assoualed ith the extemal fjnancial crisis into CA)I￿lderation. Whilst the Company has good ￿ason to consfder ihal fuThJing at an appropriate level w￿1 continue as il Is already a portfolio organisat￿rt of ACW, the￿ is no fomial indication provided as at the dale of this report. This circumstan creates a material uncetynty which may rasl dwbl atA)ul the Company s abdity lo continue as a g(xng coThcem. The Company thll conlinLFe to iaise funt15 from irusts and indMtJJaLs lo en8￿ a rarKJe of performance p8rticipab.on programmes that are ￿8ftned for 2024-27. Piincipal funding sour¢•s Despite the ongoing challenges in eaming irwme. the Counul of Wales Core 9rant fell as a percent29e of turnover io around 83% in the yeai 2022123. They are the largest Sing￿ stakeholder. and the Company is an A￿ Portfolio Wales client. Thè Theatié Tax Rèlief accotsnted fort1uring lh year was £179,10312022= £140.074). Reserves policy It is the policy of the Company lo maintain f￿e reseNes al a sufficnt level io cover the cost of direct aclwitie5, 5UPPOrt Costs and administration a5 they fall due. We are in Ihe Pffjcess of tAJiklin9 fre8 reserv85 With Ihe aitll DI achieving £250,000 by 2025126. Re5eNes we a150 iMp￿￿t be￿Jse Ih8y help mitigat8 the matn risks as oudined in the ￿'sk Management sects¢￿ below. Total ￿n￿5 held al 31 March 2023 We￿ £36,421 12022 - 109.4771, of whth £19.232 was LFnresth"cled. 01 the unreslricled funds held al the year end, £55.606 related to fixed assets and can only be realised by disposing of ihè$e assets, as such they are not Cons￿ered to be free reserves. The free Tè5eTves at 31 March 2023 wère-£36.37412022 - £30.671). The ￿serveS posibon is below the tsrget set. The bvdget foi the financial year 2023Q4 forecasts aTh u￿re￿nCle￿ surplus 01 £41.108 to make a contribub'on to the unrestrKted reserve positton. Risk management The Board regularly reviews the Ccxnpanvs operatDns to identtfy polential risks and to implement appropriate risk management siraiegres and Prot(￿￿S. The Bgar(l Meets annually wilh Ihe c￿MPan￿$ auditors to ensure that the company continues lo administer rts financial affairs in accordance the latest SORP and ￿leVant Segislalion. Page 9

NATIONAL DANCE COMPANY WALES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 FINANCIAL REVIEW The primary risks lor the organisation. which trustees conder each quarter and update their plans accordingly, Kicl¢Jde'. Finanaal risks, including cashftow issues. failJre to achieve lundratsing income targets and as5ef repbcement needs.. plans lo mitigate Ihese rL8ks have required 9￿ater scnJtiny of more ¢etaiW cashflow for8cast5'. contingenty planning In Ihe evènt ol underathievement of irKome. and a slralegK approach to asset replacement. Programme creation and delivèry iisks, inchJthrvJ fai￿re to create hi9h quality lower than forecast attendances and engagement. aThJ venue network reducing its dance prog¥amme." ￿anS to miligale Ihese risks have led to a new monitoring system for woths in progress and more intense preparabon ol visiting choreographer5.' investrnenl in rnarketing capacity. and new relatKJnships touring venues and others. - Govemance and Managernent risks. thanges in Sen￿ staff team, Its￿1 nsks and board fecruitment issues". plans to mitrgate thèse risks have to mieyrt of HR practice and contract terms, considering legal Issue5 in a number of a￿aS by Ihe Ix)ard and ts sub-committee and undèrtaking board skills audit and bToader review in advance of a recent successlul recwi1rn￿t drive. During Ihe year, Wlth thè aid ol a 5peciali5t extèmal f&Flrtalor, Ihe Intsiee5 and executive team discussed and agreed levèls of nsk appetste in relation to each of the key Strateg￿ worib"es. These are now M)foming a new approach to risk, which Mil￿aleS and manages risk where It rep￿Sents a threat lo the Company's ¥esilEnce and success. but supports risk where opportvnitses lie. For instance. in the areas ol dance innovalion arffl advocacy for dance as an artfoFm, the Cornp3ny has agreed to toleryate a high level of risk meaning thè Company can 8xperimènt and wtsu8 new activities and partnerships. wher8as in the area of financial governa￿e and I￿11￿[￿e, its risk tolarance is low. These Measu￿$ a changing decisions and culbjre to enable agile w(wking. Governance One new trustee was appointed during the year. Ajison Tfv)me. who was apwnte(l as Chair of Tnsstees in Juty 2022. One trustee lelt during thè year. Marfin H￿tr￿_ The new sub-committee of the Board held its first meetings. the Artistic Adyisory Grwp. This body advisès the Artist Llireclor and widar le￿. prowding feedback on programmes of work acro&% the Cornpany's output. Employ¢¢ Invol¥ement The Company comrnissioned an independentty led whole staff 5ur¥ey in 5prirvJ 2023, asking people lo respond on a de range of areas Induding leadership. ¢ommunicab"on. team working, sens of purpose. equity. diversity and inclusic and opportunit￿S for devebprnent. The results were posib've. demonstrating a highly motival8d and well-connected organisation. proud io work at NOCWaies and deeply invested in improvement and learning. The leamw points wh ernerged frryn the syrvey have been identified and thange ￿ being implemented where highlighted. The exercise will be r8pealed annualty to measure change over time. Equality and Diversity The Company significantly ￿viSed and updaled its strateg￿ Equality plan in 2022. lo refl￿t i¥Jr 8rnlxtK)n to further diversify ovr staff and board. to engage a greater diversÈty of a￿llenCeS and participanls. and work with artists who refleGI Wales and the wortd now. TtN"s new plan I(￿USed especwlly on achieving greater repre5ernlation across our w￿k with people from Ihè global majority, Oe8f and dIsa￿ed people. LGBTQl+ cornmunitses, and people from lowpr 50cio-8c0n0m￿ groups. In older to help im￿eMent and monitor the plan. we ¢￿ated an intemal w0￿1ng group made (bp of slalf from acr05S the ganisalion, whth has led to change in Ihe targels set, Ihe methodology adopted and yseful challenge to the assumplions made. Th8 year saw a ￿gni[thnt dNeI5ification of the dance team in teffms of 8th￿￿ backgr<xJnd and disability, building on the Co￿51derable LGBTQl+ dIVer￿ty already in the Company. Rectuitrnenl processès ha¥e ev0￿ed to indude a greater nutnber of accessible formals, including BSL. Our Young As50ciales pack was Crea1￿ in new accessible formats. and a high proportion of staff have undertaken Oeaf awareness training. The Company has been instrumental in the creab.on ol the nabonal companies. leadetship diversity programme Culture Chang" which. with the svpp)rt tsf Ihe Welsh Government AJ)ts-Raosm fund. is engagirig critical friends lo challenge us lo improve HR and other processes lo break down bairiers people from gthal majority to lake up leadership position¥ In the inststutitins. Page 10

NATIONAL DANCE COMPANY WALES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 Environmental sustainability The Cc>mpany registerecl with environmental charrty Julie's Bicyde to ensure that cOMp￿hen51Ve and rdiabl& rneasur•5 of carbon footprint and other environment￿ measures inlom our dnve ltr become a net zero company by 2030. Th8 process ￿11 be repeate(l annualty lo monitor progress and ChaI￿nge hJrther change. Durin9 20222123 the Company sold 115 only remainin9 diesel vehide. and the majority of tour travel is now undertaken by train, incjuding Inp$ to northem Europe. For instance, the team that wsited Pans to perform al Ihe Six Nations Rugby half-tyme travelled by train, as did the Wales r•wesenlafy'ves at Tanzmess• in Dusseldorf In August 2022. The Company briets all incomrng deSvJDe￿ tt) ensure Ihat as much existing matefials are ￿-USed as pos5th, and we actively lend and share costumes and equipment to m￿MIse ￿"r lrfetm? Lwe. Health & Safety The Company's Health and Safety Fdicy iMp￿nentat1￿ e fed by Operatrons Director and Héad of ProductK)n. There wère no signifficant health w)d safety irtidents thJring the year. and no insptcbons whth found faull or omission. All staff were offered first aKI training meaning that Ihe vasl majoTrty ijl staff a￿ now suitable trained. Having 8 fvll-time and permanent technical team has inrAeased caparity to (xlntinu￿jY monitor aThY strengthen hgalth and safety measures. Future Programme Production and Perforniance The Cornp8ny continues to rn8rk its 40th year of ex￿tence wilh 8 season enblled NOWINAWR, which ctslminate in December 2023 with a new lamily dance wofk premiere with Ihe Cho￿Ographer Lea Anderson. which will then tour throughout 2024. The anniversary has been ￿Jr chance to dep￿1 arn excitsng new future. the values which are irnportanl to us, and to engage ￿th new people as arbsts. audiences and parbcipants. In August 2023. the Company is presentin9 4x10, a PfO9wme of four wnmIS￿OnS for Wales-based and Welsh arlisis (June Campbell-Dawes. Daisy Howell. 054an Meilir. Matthew Robinson) resulting in works lasting 10 minutes presented in Cardiff. Follo￿ng this, in Autumn 2023. the Company will rtrtour its programme Pulse. featuring Marcos Morau's Waltz and Sarah Goldings and Yukiko Masui's Say Something. The tour will ojlminate in Padova where the Company has been invile(J to be part ol a preslyous Iwian dance fesbval. Also Intemationally, NDCWates has been irwited to be part of a collaboration the Korean National Contemporary Dance Company IKNCDCI. In the Autumn of 2023. Welsh choreographer Anthony Matsena will fflake 8 new work lor KNCDC. whi15t the renowned Kc¥ean choreographer 8oram Kim Will make work for NDCWales. The works wim be premiered in Seoul in November 2023, with the aim of showng them in Wales in 2024. Also in 2024, Theatr Genedlatthol Cyrnru and National Dance Company Wales t￿prOdu(￿ for the first tin to deliver a plTrysical, musical. uniquely Welsh prixJu¢tion for child￿Tr on tour. Steffan Donnelly and Maithew Robin50n co-direct. with words aThJ music by CUT￿nt Bar(Id Plant Cymru IWelsh4aThJvage ChikI￿n'S Laure8tel Casi Wyn. Our Priorily Venue programrne sees artists being embedded in <x)rnrnunits'es acros5 Wales and England. wth jointly authwed 8udienc8 development plans agreed between company and venue in each case. Running for five years. we are now extending the programme in Wales to c￿ate venue residencies Whe￿ Ihe Company spend5 extended periods of lime in selected locations around perfonnance dates. worknryJ with Ictal people mrwgh engagetnent work. ffleeting and exchanging kr#)wledge and experience with k)cal artists and idenbfyirg new people lo wijtk wilh in luturè. Further ahead, the Company has commiSs￿ned work by the JavaneselAustralian choreographer Melar4e Lane. will creaie and tour outdoor work in 2025. has ￿an$ for a mapJ( site ￿nme￿[Ve project #1 2026. Dance Participation and Learning We seek to connect Mlh people around us 10 create s(KAal ethan98 through NDCWales' Engagement programme. Whatever people's expèrience of dance. we seek to enable people to th brilliant things. developing ideas and skills. and lo co<reate extraordinary ¢anc*. The wogramme aims to broaden access to dance. support the de¥dop￿ent of the artform and explore ways in vthich dance can contribute io a heallhy. fulfi#ing life. Tu Hwnl i'l Gofyn l Above & Bey¢￿￿. is an ambib.ous bong-term. co-crealion prq'ecl which brings arts and non-arts partner5 logèlher wilh the communilie5 of Penrhys arbd the surrounding Rhondda Cynon Tal arèa, detailed abtsvé. Having experienced the thiill of performing a5 part ol the Companls 40th birthday evenl. Gathering, In May 2023, the Amped Up Academy, of ywng beaiboxers arml parkour practsb"onefS are eager lo further develop their skills an perlormance expeaence. Page11

NATIONAL DANCE COMPANY WALES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 Iltr Young AS$￿iale9 programme is a flagship laleni devèk>pment programme for yThtng aspiring Welsh dancers laged 13-191. We are exleThJing the reach and dNersity of Ihis wogiamme in collaboration wlh National Youth Arts Wale5 and Ballet Cymru to ensure Complementaiity and clear pfogression routes. We arm tts draw on experience of piloting new Young Associates groups in North and West Wales in 2314, to then establish a new ￿gUlar group outsid8 Cardiff. This group of young people take part in wee￿Y phyxal training that de¥elops arb'stry creabvity with a Strong connection to the artistic prograrnme. The Company will perlorm as part of 4 x10, with a new piece clK)reographed by A￿'st Director Matlhew Robinson, as w•ll as present new work al LAUNCH, an even￿9 of Welsh youth dance al the Dance House in November 2023. Oance fof Parkinson'5 programme5 will continu& in Cardrff. Bangor and Blackwocxl in u>N8btsration with English Nats"onal Ballet, arKI in CA)Ilabor8ti¢)n with Coleg Cambria in Wrtrxham. This powerful pro9rarnme of dance Improves the lives of p￿pIe livbng wthh PaTkinson's and has been shown to have lasting medical aThJ lrfewe benefits. Further ahead, we will generate the next of PARfi in spriftg 2025 In three Welsh Ic¢alions. 0￿e again inviting local people lo dance wrth us on stage in a specially ¢Jevi5ed cornmunty-based ¢￿atiOn. BLWYDDYNNEAR is a prograrn￿ r￿nIng I￿ 2025 and 2026 and VAII chronicle a yèar in Wales. folkjwing and documenting the joumey of a Welsh dance artist ar(xAn¢J Wales ov8r onè yeaf, dan(ing and crèating with people whère they are. 11 will pair the artist with communities lo co-creale a large ￿ete of that CLJme iogether in North Wale5 in a speual performance event and a film. Welsh Dance Sector support Access to studio space remains a ￿lts1 one for da￿ artsts. We often Sha￿ access io our sludKtrs wth artists for free. either through pre-planned arbstic ¢dlaboration. or through'standby Sluth'os. which offers unused space to Wales-based dance arbsts fry fr&9. Our atrn is lo irKr8ase the amount of free space offered. which wa5 630 hour5 of free Space in 2022123. Oui Artistic AsSOCiat•s June caMFthII-Dav￿ and 05ian Me￿Ir wll comp18te th"1 ￿year progvamme of work with us In spring 2024. when we ¥￿11 annourte new Artistic Associates. Both have been commt$5ioned to rnake WO￿ for the Company a5 part of 4x10, have ar£ess to free slud￿) space and menioring AJknstic Director Matthew Robinson. Our Dance Ambassadors across Wales are fr￿e dar￿ arlists who we work with l(xy-lerm to share ojr rèpertoi and support iheiw develotwnènt and prov41e ongoing woth in their communibes. shanng a passion for with local pèople leading up to our visits 10 their local area. We ar& a¥ning to create longer and more intense ¢onlraGls for activity with them 50 that they can enhance our residency ￿anS in Wales in 2024 and help u5 r¢ach new p80pI? a5 audiencès and participants. In 2024 we will deliver AMDANIIPLAY. an exciting festsval of dance devekjpment, praCt￿e and performance. Wilh National Dance Company Wales as a host. AMDANIIPLAY wll proNe Wales as a hub for dan￿ nalionally and 1ntefn8tional￿. Designed with WelshlWales-base(J artists, AMDANIIPLAY will offer space to practise. play and present in a senes of events and actwitses open to local ath'sts and VKJse fcom lurther af￿1￿. ac¢ing as a laboratory. playground and plafform. Access The Company is continuing to srynificantty exlend the Tange of ways in which audiences (sn access our perfomances. With audi0￿eScrIption available in almost all venues. wè are eng89ing Blind Spot to work with us lo ensure accessibility lo the Blind Community in a myriad of ways. 8SL is routinety offered for perfonTran￿$ which have a spoken èlement, with high levels ol lakè up. NOCWales is a prodU￿r of Welsh a￿St￿ eXpresS￿n. our expression of WeIshnes￿CyMrelC1Od embraces who we a￿ as a nab.on now. The Welsh language is a Cofnerstone of how we express our purrKJse and who we are, what w8 make and how we work. We will create acce$5 to our work through the medium of English and BSL. and we will conlinu• to usè Makaton in our wofk in Penrhys and elsewhere. We TrMII seek a diversity of Wo15h.speakets to conn8ct with, contributing to the growth ol diversity wilhin Welsh language arts. The COmp￿Y is also planning to introduce easy read poliaes to ensure that everyone can access our ￿Itten and online resource5. Sustainability and Support NDCWales is ¢urrenUy awaithng Ihe cwjtcchne of the Arts Councrl ol Wales Investment Review 2023. which will cselerrnine levels of funding initially lor th8 three years 2024-27. The oulc(xme is Itkely lo be known by October 2023, and will take effect from 1 April 2024. Scenario ￿anning is being undertaken to outline the shift in delivery ￿qLl1red if the level of fundin9 changes significantly. Page 12

NATIONAL DANCE COMPANY WALES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 As we look lo Ihe per"r4J beyond 202312024. we aiffl lo attract sUp￿rt from grant makers lo not only SVPFQrt delivery ol activity bul with a vi8w lo enabling posilive thange for NDCWa￿s th)sg we benefit alwjned lo the Companys business plan and future ambition. We will conknue to seek connections with business part￿$ who share tyjr valu85 arvj can play a part in our future. We seek lo maintasn the 5UPPOrt of existing individual SUPKX)rtews and develop ovr approach in this area in line with the audien￿ strategy and develop philanthropic giving through the Lrfft scheme lo fvrther support the Company's charitable objectives. Governance Having recruited a new Chair, the Board is cornrnerK¥￿ a recruitmenl exerc4se to identty new trustees tts add tts the r8nge of skills represented and to enhance dNersity STRUCTURE, GOVERNANCE ANO IAANAGEMENT GL)veming document National Dance Ctsrnp8Fry Wales is a comparry limfted by guarantee No. 1672419. 9ovem8d by its Mernorandum and Articles of AssocialiC￿. The Company is registèred ￿lIh Ihe Charty Com(rMsss(M) as a Charity in England and Wales No. 32622T. OrganisatFonal structure National Dance Cornpany Waks is Managed by a Board ofTm5tees vtho also act as d¥ecttsrs of the Company. Trustees a￿ ￿ruited from a variety of sectors and demonstrate a Ta￿e of skills indudiTrJ d￿Ce, digitsl arts. eowalion, human resOU￿e$, finarrx, corporate governanrE. law. tsndr8isTrg and business development. The Board delegales daY-￿daY op8ralw)nal ￿SE#)nsibl1ty to Exeojbve team, kd by Chief Execulive, Paul Kaynes, and Arbstic Director. Matthew Robinson. Rernvneration of Ihe senior execulives is based on ihe latest intèlligence on comparable posts. rates of pay in Ihe arts sector. Pay i% rèwewed for all staff annually. and annual rises, when aftordable. a￿ based on the rate ag￿e0 between the Independent Theatre Council and Equity in its annual negotialions. Choreographic f8e5 may be paid for works made by the ArtisfK Director. Recruitment and appointment of trustees Directors can serve a maximum of two terms, each of years. thJration. The Chair can serve an additional th years as Chair il apwnted after a Ihreeyear lemi as a reg￿lar board member Th8 Board Is 8ppraised and audited every iwo lo three year5 in line wilh the rerxurtrnent and Board temi cyde. A regular skFlls audit as part ol a Goveman Review helps to idenlfy areas ol need. infomiiNJ the Board recruitment strategy. The Board wishès to thank and pay tritwjte to the trusteè Martin Hymon who reS￿ned dLwing the year for their an sharing their skills. Induction and training of trustee5 N9￿Y appoinled InJstees receive a ccthprehenswè indud1￿ inlo Ihe Company, incIL￿ing a meebng wih the Chair to discuss the role ol the Board an¢Y resKX)nsibJ"lity of the trustees. and a mee￿.n9 with the Executwe Team lo dwuss art15t and mana9ernent &)jeclives. An induction pack contains the Company's busirbess plan and contributory documents,. copy of thè 9ovwning d￿UMentS.. all cur￿n1 rK)lioes. Anti-bribery, Health & Safèty. Equal Opportunitses and Safe9uarding,' the fflost recent audtlorf5 report. the current annual budget and most recent mallagemenl accounts," a copy ol the Arts Council of Wales annual ag￿eMent, the sIrateg￿ Equality Plaft and an tsjtline ol the responsibilities ol the role of a trustee. TnJstees are encourage(I lo attend ￿rf0rn)anceS of the Company's wheiever possible. The Cornpany's Slralegic Equality Plan sets oul its determinalion lo reduc£ inequality in both our oigaiusation and in socièty. It demonstra￿$ <)ngoing commitment to break d¢Jwn barrièrs and set about creating equal life chances. This applies lo the board of trustaes as to all the Company'5 work and ks used to inforn ch0￿S as to how trustees a recmiled. inducted 8nd SUp￿rted during their limes on the boaid. Related parties Trustee5 declare any aclual or potents.al r£Jnfl¢cts of interesl. No trustee was tnaterially interested in any contract or fflatler o15ignificance lo the Company's t¥J&ness during the year. The trustees re￿IVed no remunerats.on or benefi15 lor their conlribulion lo the Company. Page 13

NATFONAL DANCE COMPANY WALES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 01672419 (England and Wales} Regi5ter•d Charity number 326227 Registered office The Dance House Wales Millennium Centre Pier Head Slreet CARDIFF County of Cardiff CF10 4PH Trusteès A Thorne J M¢Closkey GH Davies EL Chapman Gl Basiletti WE James TAM M8rhnez M Hylton C Allen KSB Lowe Appointed 27 July 2￿22 Resigned 27 Juty 2022 Reswned 27 Juty 2022 Senior staff Chief Executive Artistic Director Communications Director Operati¢)ns Di￿¢tOr Executive Prthucer Paul Kaynes atthew RobinscAI Ceri Puckett Kelly Twydale Chris R￿kettS Audltors MHA Chartered ACCO￿18￿1$ & Sta￿tOry Audiiw5 Elfed HoLJSè Oak Trea Court Cardiff Gate Business Park CARDIFF County of Cardiff CF23 8RS Bankers Unity Trust 8ank PLC Nine Brindleyplace BIRMINGHAM 81 2H8 Solicitors Capital Law ComFnerc4al LLP One Caspian Point Caspian Way CARDIFF CF10 4Da Pagè 14

IIATIONAL OAN¢E COIAPA14Y WALES REPOR r OF rme TRUSTEES FOR THF YEAR ENDEO 31 IAARCN 2023 STATEIAENT OF TRUSTEES. RESPOIISJ81LITIES The trviiees (who >È asts Ihe thredoJ5 01 Natm O¥rtr Cryrwy Wa￿5 ￿ th¢ purposes of cTrnp8ry ￿wI are feswbiule prwm the Rewt oftho T￿te&S J In acc£rfdance ￿th LTht arnj lthi18(J Kingd￿ Acwthiling 512ndai4ts ￿mG￿alty Atcpte51 Acox%itirnJ Pwbckk Compaty l&v ￿￿7reS the true5 lo wwore s181emenls for fina￿)￿./2¥¥￿MCh give 8 true9￿10([ v ol Ihe jkale ot lh8 tharkthow ofu reswees and ol rasourtw, inthdiNJ the Incomts 8xpenthbJre. of Ihe tharilable (tm?￿￿ for thal period. lfi kwaring thDS- $￿teMentS, Uje bN$te•s are fequired io 88leci suilabl8 accounury then appty ewfysknty. absaNe the Inel￿￿$ wipkik4es In the cknaritySCRP." make iudgem8n15 arKI esiimale5 Ihatwereasonatye an¢ W￿nI." preparp Ihp financi statem￿lS on goiThJ ccw basis il ts nwkvrcyole ￿ pre5W)È that thè tharitat4e cwarty VAII ¢onbnue ui tY￿rS5. ltte finwioa of the dwfat4e 0￿paY am en8t4e th￿ lo the statampnts ctsnply with Ihe Comparries Ai# 2QJ6. Theyare aso witr4efoFsafwJudtty the a550ts ofthe thwlabit mmp￿Y and hencef tak￿9 feawable slep5 offr•Jd •41(IhBrwrwAtheo. In so lar as Ihe Ifuslees a￿ awe.. ere 1$ no rdpvani au￿ irrfcYmK)n olAMth ￿￿￿blE({mnp￿rf$ audi￿$ are ￿aare". Ihw IruS￿&S have 5tep5 Ihat they lwghl k> have laken to mae Ihwnsthes ￿are ol tel￿1 AUOITORS On JO ￿ne 202) a5 3 ofa ￿cer1 Awger. Wats (>egyy LLP a5 &thtOf5 th ao>)idart8ith 516 oi Ihe Companits Act 200s andrtreTrJW IL8 as Yh• audiloF5. be prwol lorB-¥FP)tiiknert at the Anrlryl Gen￿¥ MEebf¥J. Ap¢Yoved by ￿the 8owd 0fTA￿e￿on J1 ￿￿￿2023 wfby." Pffj¥l

REPORT OF THE INDEPENDENT AUDITOR TO THE MEM8ERS OF NATIONAL OANCE COMPANYWALES Opinion We have audited the financial 5talemenls ol NatK)n Da￿ Company Wales Ilhe 'charitable cornpany'l lor the yeaf ended 31 March 2023 which (omprfr5e the Slaternenl ol Financial Activities. Ihe Balance Sheet. the Cash Flow Siatèmenl and notes lo the financièl Slatements, Including stgnthcant ac¢ounbng rx)licies. The financial reporting framework that has been aP￿le￿ in their preparation is app1th￿e law and United Kin9dom AccounlirTrg Standards including Financial R8portirwJ Standard 102, The Finanual Repo￿n9 Standanl applKable in the UK and R8public of Ireland Iunited lQngdom Generally Accepied Accounknng Piaclicel. In our opinion the finanoal statements". give a Inje and lair view of the stste ol the d)aiitable company's affairs as al 31 March 2023 and of its incomin9 resour¢es and appliCat￿n of resour￿$. including its income and expendilure. lor the year then ended," have been property prepared in a￿ordancE vAth Uniied Kingdom Generally Accepte(l Accounbn9 Practicè. and have bearn prepared In accordance v+ith the requKèments of the Companw Act 2006. Basis for opinion We conducteil our audit in accordance ￿th Intematk)nal Standards on Audtti"ng IUKI IISAS IUK}l and appli(2ble law. responsibilities under those Standards are further described in the Auditor responssbilities for the audit ol tho financial statements section of our report. Wé are indepermlent of the charitsble company in accordancè %4ilh the ethical ouirements that a￿ relevant to our audrt ol the finanoal statements in the UK, incluijing the FRC'S Ethical Standard. and we have fulfilled our other ethtcal responsi￿.1￿￿$ in accordance with these requirements. We believe that the audit evidence we have obtainèd is suffiC￿nt and appropriale to provide a basis for wr opinion. Material uneertainty related to going concem We draw attention to Nole 2 in the finanrial statements. ￿lch indicates that the company s current li8bililies exceeded tts current assets by £19,185. As stated in Note 2, thi5. along wth other matters as Set forth. indicate that a Tnaterial uncertainty exists that may cast signfftant doubt on the rA)mpan￿5 abdty to e(MknrM￿ as a 90ing t￿￿ern. Our opinion is t modffjed rn respect ol t￿$ matter. In auditing the financial statements. we have &)nclu¢Jed thal Ihe trustees, ¢Jse of the g¢ing basis ol a¢counliro in Ihe preparation of the financial statement5 is appropriate. Our ￿S￿nsIbIlItieS and the respThisibiltties of Ihe truslees with ￿SpeCt lo going o)nc8m are described in the relevant 5eGknons ol this rèport. Other inforrnation The other inlormation comprises the infomiab.on I￿￿ded in tht Annual ReFKt. olher than the financial ststements and our Report of the Indepèndent Auditor thereon. The trustees are resportsit>le for the olher infomiation. Our opinion on the financkal statements does not cover the olher Tnforn)aDon and. eX￿pt to the extent otherwi8e explicilty stated in our report. we do not express any fonn ol aSsU￿nc￿ C￿￿u$￿)ft Ihereon. In connection ￿th our audit of the fr)anctal statements. ￿sponsIbl1rtY is to ￿ad the otheT informabon and, in doing so, cons1der whether the other inf0miatl￿ is materially Ir￿n$T$ent wilh the financial statements or our knowledge obtained in the audit or otheThwse appears lo be malerially m1s51a¢ed. If we identify such malerial incon515tencies or apparent fflaterial mi5slatemenfs, we are required to delermine wheiher this gNes rise to a rnaterial misslalement in the rinancial 5tatemen15 or a material misslaternent of Ihe olher informah"on. If, based oll the work we have performed. we conclude that thece is a material misslalernent of tr¥"5 Other infomation, we are ￿qUired lo report that fact. We have nothing to report in this regar¢J. Oprnions on other matters prescribed by the Companie5 A¢t 2006 In our opinii)n, b8sed on Ihe work undertaken in the course of the audil.. the Information given in the Report of Ihe TnJ5tees, which includes the D1￿ctorS. Rewl, prepared for the purposes ol company law, for the financi year for Wh￿ the finanoal statements are p￿pared is (￿SIs1ent with the financ￿1 5talements.' and the Directors. Report induded wilhin the Rewt of the Tnjslees has been pr8parèd in accordarKe th applic&b18 legal requirèments. Page 16

REPORT OF THE INDEPENDENT AUDITOR TOTHE MEMBERS OF NATIONAL DANCE COMPANY WALES Matter5 on whieh we arè required io report by exc¢ption In the light of the knO%￿edge and underslanding of the charitsble cornpany and its environment obtained in the course of the audit, we hav8 not K18ntifi6d FTrat8riaJ rrMss131ements in the Dwedors. Report included wilhin the Report ol the Tru5tee5. We have nothing to ￿pOrt in respect of the follow.ng matter5 ¥•here the Companie5 Act 2(W)6 requiT•s us lo report to you if. in our opinion.. adequate and proper accounb.rg records have not been kept or fetum5 adequate for ¢)ur audit have not been receive(I from branches not visited by us. or the financial slatements are not in agreement V•ith ihe accwnth"n9 records and retums: or rtasn disclosures of trustees. remunerabon speofied by law are not madè., or we have not received all the information and explanabons we reouire for our autJrt,- or the Irustees We￿ nor entitled to prepare the financial staternenls in accordance ￿th the sman cornpanies regime and takè advanta9e of thè small cOrnpan￿. e¥8fflPtion in p￿parIng the Report of Ihe Trustees and from Ihe r8quir8tnent 10 prepare a strateg￿ R8w>rt. Responslbilitles of trustees As explained more fully in Ststement of Trustees. Responsibilities. the trustees (who are also the diwlors of the charitable company for the purposes of company lawl are responsible for the preparation Ihe financial ststgrnents and for being satisfied that they give a true and fair view, and for such Internal contryA as the trusteès determine is n￿essary to 8nable the preparatKJn of financbal 5tat&menls thal are free from mateiial misstaternenl. whether due to fraud or error. In preparing the finanaal statements, the tW5tees are reS￿nsItI f(w assessing the charitsble company's ability to continue as a gOI￿g coJ)cem. disd05irYJ, as applicable. matters relaled to going crxJceTn and using the going concem basi5 01 accountirvJ unless the trustees eilher 4iter¥J to IiquKlate Ihe tharila￿e company or to cease operalions. or have no ￿aliStIC allemalive bul to do so. Auditor responsibilFties for the audit of the f(nancial ststements Otsr objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due lo fraud or error. and io issue an Auditorf5 Report that Include5 our o￿nion. Reasonable assurance is a high level ol assurance but is nol a guarante that an audit con¢Jucted in accorclan¢e with ISAS IUKI will always d8tect a material misstatement vthen it exists. Misstatements can arise from fraud ￿ erroT ènd a cor151de¥ed malenal rf, Individually or in U)e aggregate. they could reasonably be expected to Influence ihe econom deasions of users taken on Ihe basts ol these finartial slatements. Irregularits"es, induding ffaud, ale instances tsf non-compJiarKe with las and wulalions. We ¢Jesign procedures in line with wr reSp(￿Sibl￿"tie$. outlined above. io deiecl material misstatemenb in respecl of irregularitses, ￿¢r￿dIng fraud. The specific procedures for thi5 engagement and Ihe extent lo which Ihese are Capable of detecting irregularities, includwg fraud is detai18d bdow- We •valuated management's incentives and oprM)rtunibes for fraudulent manipulation of the finanaal statements (including the risk of override of ¢onlrolsl and delemiineL1 that the prinupal risks were related to p05kng inaccurate journals. We addressed these risks by carryiryJ oul specifiralty taryJeted procedures. wh￿h induded.. Ernquiries ol management. those chaiged wth governance around actual and potential Iits"gation and ctstms: Performing èudit work over the risk ol management ovefflde of controls. induding resting ol journal entries and other ad1ustrne￿lS for appropriaterss and evaluabThJ the business rationale of s¥Jnffjicant transactions outside Ihe normal course of business". Reviewing rninules ol meetings ol those charged wth gOVerna￿e. Eval￿ating Ihe ieasons for any large or unusual transactions- Reviewing financial slatement disdosures and testing to supporfirg docurnenlation to asses$ ¢OrT¥pl1ar￿ with applicable laws and iegulab"ons.to undertyiThJ supportry d￿mentalK)n. 8e¢ause ol the inherenl limitations of an audit there is a risk Ihal we wll not delecl dl ir￿gUIaritTres. induding those leading to a material misslalemenl in the financial statements oi non-conwliance ￿1h regulation. The nsk Increases th8 more that CoMp￿ance with a law or regulation is removed from the evenls and transaclk)ns reflected in the financial statements as we will be less likety to beccffie aware ol Instances of non￿MplianCe. The risk is a150 grealer regarding irregularities OCCtJrfing due to fraud rather than error. as fraud invofves Inlenbonal concealmenl. forgery, collusion, m15Ston or Mi￿epresentatiOns. A further description of our responsibilitie5 for Ihe audit ol the financial statements is lor2ted on Ihe Financial Reporting Council's websiie at www frc.org.uklaudiiorsresponsibililies. This deSCripkn￿ fwms pari of our Report of Ihe Inclependent Auditor. Page 17

REPORT OF THE INDEPENDENT AUDITfJi TO THE MEIIBERS OF NATIOKAL DANCE COMPANY bVALES Uso of our repDrt This report ts made SOW 10 Ihe Charitab￿ compaiy Members. a5 a body. in ¥r4)rtra￿ wth Chaptsr 3 of Part 16 of the Cc¥npantes Act 20th. Our has been ufidertaen so we mghl stale lo the Charilab￿ companls rnember5 those mallers are rwuiT>Y 10 State to them In an auditors, report for no olheT purpose To Ihe ful￿51 ?xtsnl permitied by l¥. we dts accw assume responsibth.ty to ￿yone other than ihe charitab c4)mpany arLd the charitabb ￿MpanY'S r￿ernbe￿ a5 a boty. for wraudrt wtyk. fjorlhi5 reporL oifor the O￿n￿)￿S have formed. Elizabelh Newell 8AIHonsl FG4 ISeftiorStalulrAy A for afyj on behalfof MHA Slatuiory CARDIFF. United ￿ngdoM Date". ..1 August 2023......-....... MHA is the ifading name ol Maclntyre ￿￿1$0￿ LLP. a partmrshw in Ewand and Wa*s Ir4istered number OC3123131 PagÈ 18

NATIONAL OANCE COMPANY WALES STATEMENT OF FINANCIALACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNn FOR THE YeAR ENDED 31 MARCH 2023 2023 Tot funds 2022 Total fvrKIs Uwestrscted fvnds Restiicte(5 funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 871.427 871.427 940.035 Charitable a¢tivitie$ Advancing arts and education through dw¢e 110.911 323.258 434,169 347.492 OtheT trading act?¥￿185 Investment income Other irKome 515 515 430 52.945 52.945 10.622 Totsl 1.035,832 323.258 1.359.090 1,298,581 EXPENDITURE ON Raistng fuThJs 435 435 416 Charitable a¢tivitiè$ Advancing arts 3nd education thr￿gh dance 1.281.586 329.228 1.610.814 1,387,144 Total 1 282.021 329.228 1 611,249 1 387.560 Theatre Tax Rèlief 179.103 179,103 140.074 NET INCOMEIIEXPENDITUREI Transfers between fund5 167.0861 19 {5.9701 191 {73.0561 51,095 21 Net movement in funds 167.067) (5.9891 173.056) 51,095 RECONCILIATION OF FUNDS Total fund$ brought forward 86,299 23.178 709,477 58.382 TOTAL FUNDS CARRIED FORWARD 19.232 17.189 36.421 109..477 The notes fcwm parl of Ihese f￿anual slatements Page 19

NATIONAL OANce CO4PAPIY WALES BALANCE SHEET 31 MARCH 2023 2￿￿3 Total f￿J$ runds FIXED ASSETS Irtan9b￿ assels Taryible assets f5 f6 601 55.005 3.Q)2 51626 55.cf 55,f S628 CURRENT ASSETS t7 315.Y41 376.921 299.Y25 76.818 Cash at bar in hBTrI 297.38B 35.ro1 J32,419 376,143 CREDITORS A￿UnIS ta￿￿9 ¢JLe￿I￿On rfft ye 18 1325.7V21 If7.8Ql 1343.6041 1322,2941 NET CURRENT AS5ETYIUABIUnESI 17.189 53.049 TOTAL ASSETS LESS CURRENT UA8IUTIES 19232 17.189 36.421 I￿.477 N￿AsSETS1{UABlUTjEsl 19.2 17.189 36.421 109.477 FUIIOS 21 19.232 86,299 23.178 R05tlKXed fLr¥J$ TOTAL FUNDS 36.421 109.477 subject to smal 0)m￿leS fe9iff The fjrwK4al stat￿￿1$ wwe apprThed lry Tn￿lee5 an¢J i55ue on 31 J￿Y 2trA3 th were signed oft its behaby." A Thome- Trustee f£m pt cl the5￿ Stat￿1$ Pag& ?0

NATIONAL DANCE COhlPANY WALES CASH FLOW STATEMENT FOR THE YEAR ENOED 31 MARCH 2023 2023 2022 Notes Cash flows from operatlll9 activitie5 Cash geneiated ffom operations 148.8161 158 8391 Nel cash used in operab.ng a¢Dvities 748,8161 158.8391 Cash flows from investing activttiès Purchase ol tangible ffxed assets Sale of tangible fixed assets Interest receN8d 116.5321 20.001 127,4191 100 Nel cash Fxovided by invèsling actiwties 3,503 27.3171 Change in ¢a$h and ¢a$h er4uivalents in the reporting period Cash and ¢osh equivalents at ihe beginning of the reportin9 period {145,3131 1186,1561 76,818 262,974 Cash and ￿$h e9ui¥al•nts at th• end of the reporting perrod 66.4951 76,818 The ￿e5 fcwm part ol these finanrial statements Page 21

NATIONAL DANCE COMPANY WALES NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDEO 31 MARCH 2023 RECONCILIATION OF NET {EXPENDmJREyINCOME TO NET CASH FLOW FROhl OPERATING ACTIVITIES 2023 2022 Net {e¥penditureifin¢omÈ for the reporting ￿Trod las per th• Statement of Financial Aelivitiesl Adjustments for.. Depreciation charges Profit on disposal of fixed assets Interest received Increase in debtor5 Decrease in credrtors 173,0561 51,095 16.553 120,0001 1341 117,5961 54.6831 14,869 11001 121 1218,8061 5.8951 Net cash used in operations 148.8161 158,8391 ANALYSIS OF CASH AND CASH EQUIVALENTS 2023 2022 Cqsh in hand Noh"ce dew5its Ile55 than 3 rTX)nih51 Supplier payments account Fundraising account Overdrafts ￿clud￿d in bank loans and overdrats fallry due ¥bilhin one year 652 2,051 3,168 1,627 75,9931 14231 77.241 Total Cash and cash ewivaler 68.4951 76.818 ANALYSIS OF CHANGES 114 NET FUNDSI{DE8T) At 114122 Cash flow AI 311Y23 Net ¢ash Cash at bank and in hand Bank overdraft 76.818 169.3201 75,993 7,498 75.9931 76.818 (145,3131 Total 76.818 1145.3131 68,4951 The nole? lorm part ol these financial statements Paye 22

NATIONAL DANCE COMPANY WALES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 STATUTORY INFORMATION National Darte Company Wales is a company linited by guaraniee incorporated in Wales wtt)in th8 Unitéd Kingd￿. The registe￿d office is The Dance House. Wales Millènnium Centre. Pier Head Street Cardiff CF10 4PH The natu￿ of Ihe chwitsble company's operakn.ons arKJ principal ￿￿"VitieS is disckjsed within the Report of Ihe Trustees. The filon(aal statements are pfesenteil in Slerlin9 {£). company's ￿￿th"o￿al currency. and rtyjnded lo thè nearest pound. The significant accounknn9 policies appl￿ in Ihe p￿parat￿)n of Ihe5e financial statements are sel ovl below. These Oictes have been cinsislenlly app￿ed to 1 years presented unfess otherwise stated. ACCOUNTING POUCIES Basis of preparing the finan¢ial Ststements The financial ststements of the charitable Company. thi¢h is a pubJK benefft 8nbty under FRS 102, hav8 be8n prepared in accordance with Ihe cha￿liS SORP IFRS 1021 'AcwJnb"ng and Rep)rting by Chanlies". Statement ol Recommended Pracce applicable to charitie5 pr8pari￿ their accounts in accordance with the Financial ReportirKJ Siandard applicable in the UK and RepublK ol I￿land IFRS 1021.. Financial Reporting Standard 102 'The Financia Reptsrtsng Standard appkcable in the UK and RepublL of Irdand, and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. There have been rn material depar1V￿ from Fin￿￿[al Re￿t1Thj Stsndard 102. Preparation of the accounts on a 901119 concem basls At the 31 March 2023. the C¢)npany has nel ctsrrent liabilities of £19,185. As an 8xisb.ng Arts Portfolio Wales gani5aknon. the Cofflpany has applied lor funds frL¥n the AJts Ctyjnol of Wales IACWI a5 part of its Investhmenl Review for funding for the peri(Ll 2024-27. and as a result the fvture level of its revenue grant from April 2024 won't be known vnlil October 2023. In addition to p￿p3￿ng budgets for the 3 years lo 31 March 2027 as part of the Investrnent Review procèss the Company has tested a nurnber of scenarios covering a 12-m¢Jnlh p*iod from Ihe date of the s￿ning of these accounts, having tèken ongoing tconomic pressures a$s￿l8ted with the extemal finanual cnsis into consideration. Financial and cash ftow Pfoiections foi each scenaiio dernonstsates (hat the Company wll be able to meet its liabilitEs as they arise for a period lo J￿Y 2024, being 12 months from the dale of this report. However. the magnitude and potential irnpact of any signiftant ￿￿ctiOn in the level of ACW support is a re£ognised as a significant risk. The Board are therelore working on a range of opts.ons to fflitsgale the consequence of the risk. Whilst the Company has gocKI rea$￿ io consider ihat frjnding at an appropriate levd wll continue as it is already a portfolio ofganisalion of ACW, Iheie is rK) fom)al in¢Juiion provtded as at the dale of this report This circumslance creates a material uncertanty which may cast doubt almwt the Company's abilily io continue as going C￿cer￿_ Taking all the above into con5Kleralion Ihe aca)unts have been prepared on a going ￿CErn basis anrj the Cofflpany will contsnue to raise funds from trusts and individuals to enable the d•lNery a rang8 of perfomiance and p8rii¢ipation programmes as set oul in Ihe funding applicalion. Income All Income Is recognised in the Slatemenl ol F￿anCIal Actiwt￿s once the chanty ha5 entsllemtnt to the fund5, it 15 probable Ihat the income wll be received, and Ihe amount can be measured reliably. This includes Ca￿ts1 grants. Oonations and legacies incorne Donations ar￿ legacies ir￿yne inclLKJes donations, gifts and grants that provide core funding of afe 0¢ a genefal nature and recognised Whe￿ there 15 entillemenl, probability of ￿ceIpt antj the amount can tse measured with Sufficient rella￿lity. Such Income Is only deferred when the donor spectfies Il musl be used in luture accounting periods OT Ihe donor has ImptssÈd Condli￿n$ which musl be mel before Ihe charity bas unconditional entitlement Page 23 continued..

NATIONAL DANCE COMPANY WALES NOTES TO THE FINANCIAL STATEMENTS . continued FOR THE YEAR ENDED 31 MARCH 2023 ACCCMJNTING POUCIES . continued Income Income from charitable activit1•$ Incorning ￿$()urceS from charitsble a¢bvsbes indudes inC￿e feceived under contract or where entitlernenl to grant funding Is subject to speafic performance conditions. Thi5 income is recognised as ihe related serviGès are provided and there Is entillement, prOba￿.1￿Y of receipt and the amount can be measured WTih sufficient reliabilsty. Income is deferred when the amounts ieceN•d are in a￿artce ol the performance of the seNtt or •vent to which they rdale. Othèr trading activltie5 income IncomirrfJ resources fr(%n other tra¢Jing acts"wties irtludès income recewed Lmder contract. This income is recognised as the related services a￿ provided aThJ Ihere is enb"Èkment, probaixlity of receipt and the amount can be rneasured wilh sufficient reliability. I￿orne is deferred vknen ￿ amwnts receNed are in advance of the performance of the service or event to which they relate Investment in¢ome Investment irwme is recognised on a feceivable basis. Other incom• Other income is iecognised Tr) a receivab￿ basis. Expenditure Liabilib"es are r8cogryS8d as 8xp8rvJiture as a5 Ihert is a IwJal cf constructw• obligation committing thè charity to that expenditu￿. it is probable that a t¥ansfeT of economic benefits %vill be required in setuement and the afflount of the obl￿atIon can be measured ￿knAbty. ExpeTrdrture 15 accounted tor on an accruals basis and has been dassffje¢Y undèr headings Ihat aggregate all cost related to the cat89ory Where cosls cannot be direcuy attributed to P8rbcular head￿9$. IhÈy have been allocated to acb"vities ￿ a basis consistenl with the use of resources. Costs of raising lunds indude costs fundTrising. Èdverb5irYJ. markeb.ng and direct mail materials as well as a proporfion of salaries based on an apwoximab.on of time spent in this aw. Expenditufe on charitable acb"vilies eomwises those costs incurred by ihè charity in the delivery of its activities and service5 for its beneficiaries. 11 indudes b)th costs Ihal can be alkncated directly to such activit￿$ and those costs of an indirect nature necessary lo suppryl them. Support costs are costs that. whtst n8cessary to deliver an actNity. do Th)t thernselves produce or constitute Ihe output ol Ihe charitable aclivity. This I￿ll￿yeS governar¢e costs which are those costs associated with meebng the constitution￿ and statutory wuiremenls of the tharity and include the accountancy fees and Costs linked to the strategic management of the tharity as well a5 a prDporbon of salarie5 baséd on an approximation of h.me spent in this ar•a. Allocation and apportionmènt of ¢osts Support costs a￿ those functions Ihat assist Ihe woth ol Ihe charity bJt do not directly undertake tharitable activibes. Support Costs include staff cosls. finance costs. general off￿e and premises Costs, depreciation and govemance costs which supwrt the actNits"es of the charity. These costs have been all¢xated between cost of raising funds and expenditu¥e on charitable actmties on a basis de￿ned to reflect the use ol the resource. Costs relating to a particular activity are allocated ¢j1￿￿y.. others a￿ apportscned on an appropriate basis. Direct Èxpenditure is apporboned to e¥th prqect on an actual basis. Intangible assets Intangible assets are initially recorded at cost. Amortisation is Calculated so as lo write off the cost of an assel. less its estinaled residual value, over the useful economic ble of Ihal a55el as follows.. W8bsil• cosls - Slratght Ine over 5 years Page 24 conbnued...

NATIONAL DANCE COMPANY WALES NOTES TO THE FINANCIAL STATEMENTS - ¢onlinued FOR THE YEAR ENDED 31 MARCH 2023 ACCOUfrITING POUCIES . ¢¢ntinued Tangible fixed assets Fixed assets are initialty recorded at cosL Depreciation is cathlated so as to write oll the ¢y)5t of an assel ￿55 ils estThaled Te5Klu81 value, over Ihe us8 economic life Of thal asset as followts-. Motor ¥eh￿e$ - C(xnmerrAal trucks.. 5traighl line over 10 yea¥s - Vans.. strarght line over 7 ye Fixlures. fitting5 & equipment Sound and light eouipment. straight line over 10 years - OlheT e9uipment". slFawJhl Ibne over 3- 5 yeaTS - Office fvmilure." stra￿knt line over S yews Leasehold improvements - Improvefflents to leasehotd property.. . straight line over 5 years Taxation The charity is exempt from corp¥Jration lax on its charIta￿e a￿l￿tr5. Funds unlestr￿ed funds be use¢J in aCCorda￿e wtth Ihe t￿"table oty"ectN•s at the discret¢on of the trusfees. D•signated lunds are unie5tricted by the In￿teeS for particular PLffp05es. Rtr5tricted fiJnds can only b8 used for part￿ular r8slrrcted purp05e5 Within th8 objects of tt)• charity. Reslrictiorns arise when specified by the rtonN or when fvx15 a￿ raE&1 fw parhculaf ￿trthd purposes. Further explanation of Ihe nalure and PUrp￿e of eath I￿￿$ FS tnduded in the notes to the financial stabment5. Flnancial instruments The charity only has finanual assets and finan(aal ￿bill￿e$ of a kind IPsat qualify as basic ￿an¢￿il instruments. Bas￿ financial instruments are in¥bally recfranised al Iransaclion value and SLtbsequentJy m8a5ured at thèii s8111￿￿ent value. Trade and other ¢Jebtcts are leo￿ls￿d at Ihè 5•l11eme￿ arnount due and prepa￿nefits are valued al the amount prepaid. Creditors and prwsions are recogntsed vknere Ihe charity has a ￿sent obligation resuftig from a past event that will probably result In the transfer of lunds to a third party and the amount due to setue the obli9alion can be measured or estr"rnated rèlk8t￿y. Ci8diiof5 and provisi￿$ are normally iecognised al their settlement amount after alltswing for any trade discounts flue. Forei9n currencies Assets and liabililies in fOre￿fi ojrrencies are translated into slerfing at the rates ol exchange wling at the balance sheet date. Transacltons in foreign Cul￿{￿*$ a￿ tranS￿led into slerfing at the rate of exchange ruling al the date of transaction. Exth8nge differen￿$ are laken into aCCO￿t in arriving al the O￿at1￿j rèsult. Pension costs and other postrfetirement benefits The tharitable company operales a defined contributi(m pern8￿ scherne. C￿lribut￿S payable to Ihe chantable company's pensw)n scheme are charged 10 the Slatement of Financial Activities In the period 10 which Ihey relate. Termination payments The charitable corllpany r•coani58S terrninatK)n benefits as a IBbdity and an 8xpense only when ihe Entsty Is demonstrably commilted either (o lemiinate the employmeni of an èmployee or group of employees before the norrnal retiremenl d81e or to pro¥￿e terminalion benefils as a ￿SU11 ol ao offei made in order lo encourage voluntary redurKlancy. Employee benefits When employees have rendered seNce to Ihe tornpany. short-lerm ernployee benefits to vthich employee) are enlilled are recognised al the undiscounted amouThl expected to be paid In exchange for ihat ser¥ice. Page 25 conb'nued...

NATIONAL DANCE COMPANY WALES NOTES TO THE FINANCIAL STATEMENTS- conlinue(I FOR THE YEAR ENDED 31 MARCH 2023 ACCOUNTING POUCIES- continued Operating lèase agreements Rentals applicable to operab.ng leases where sub5tanlially all of the benefits and risks of oYthersh(o ￿maIn wih the lessor are charged against profits on a straight line basis over the of the lease_ DONATIONS AND LEGACIES 2023 2022 Arts Council of Wal85 revenue grant Coronavirus Job Retentron Scheme Othèr grants and ¢JonaticN)s 664,572 843,362 28.975 871,427 940.035 OTHER TRADING ACTivmES 2023 2022 Merchandisng 515 430 IMVESTMENT INCOME 2023 2022 Deposit accwnt interest Page 26 continued...

NATIONAL DANCE COMPANY WALES NOTES TO THE FINANCIAL STATEMENTS. ¢onts"nued FOR THE YEAR ENDED 31 MARCH 2023 INCOME FROM CHARITABLE ACTIVITIES 2023 2022 Grants Fees rec81vable 328.458 105,711 254.513 92.979 434,169 347.492 Grants receNed, inclu¢JerJ in Ihe atM)ve. arè 85 follM'. 2023 2022 Arts Council England- Pnonty Vènues Esmée Fairbaim FtyJndats Colwnston Chantable Trust The Em*st Hechl Chartk2bie FourKJab"on Colwinston Trust UK Government- VAT and knxil Gr￿1 Darkely Trust Fenton Arts Tnjsl Gwen¢Joline an¢J Margatet Dawes Trust joh￿ S Cohen Foundathon Chapman Trust Millennium Stadium ChartatAe Trust Lottery FundiTvJ Watedoo Foundation Arts counc￿ ofwales. Conrwt and Garfield Weston Culture Fund Esrnée Faifbaifn Foundation - Leaming Leader Hodge Foundatson The London Communty Four¥Jation - thkayne Grants lor the AJIS Wales Arts Inlemabonal- T8nzmesse Arts Council ol Wales- Intemational Opp(Klunrties Fund The Foyle Founda￿. Arts Council of Wales- Pa￿. Arts Council of Wales- Moving BeY￿d cc￿phan Anne Duchess of We5tmin5terfs Fund The W.G E¢Jwards Charrtable Foundab"c Parkinson's UK 1,500 13.500 6,000 20.000 io,ooo 40,000 1.500 2.600 s.000 3.000 s,000 1.OOD 2,200 10.000 10.000 37.985 118,465 18.263 2,200 5.000 3.000 130,461 37,397 10.000 15,0(M) 10.000 10.000 10,In) 1.500 2,400 328.458 254.513 RAISING FUNDS Other trading activities 2023 2022 Merchandising costs 435 416 435 416 Aggregate amounts 435 416 CHARITABLE ACTIVITIES COSTS DireGI Costs (see note 91 Support Costs (set note 101 Totsls Advanc1￿ arts and educats.on through dance 1.282,690 328,124 7,610,814 Page 27 conh'nued...

NATIONAL DANCE COMPANY WALES NOTES TO THE FINANCIAL STATEMENTS - continu•d FOR THE YEAR ENDED 31 MARCH 2023 DIRECT COSTS OF CHARITABLE ACTIVITIES 2023 2022 Staff costs Rent ar¥J rates Insu¥an Light and heat Telephone Postage, stakn"onÈry and subs Publicity and markelirrfJ costs Travel and training Repairs and mainienance Oirect produclK)n and dance téarn lees Cleaning Stsff welfare Staff recruitmenl fees WMC sinking lund Depreciation 835.565 54,877 18.740 25.323 567,399 43,587 15,910 21,022 2,118 3,947 4.981 50.090 1,903 275.401 12.354 4.974 5.995 24,636 13.382 7.890 101.856 389.711 10,055 26 1.445 22.058 15.137 1.282.690 1,047.699 10. SUPPORT COSTS Staff costs InfDTmalion technology (kjvemance costs Other Totsls Olh•r Irath"ng acbvilies Advancing arts and eilucation through dance 123.659 142.196 60,643 328.124 123.659 1.627 142,196 60.643 328,125 Supwl costs during the previous year totalled £328.2￿. of which £123.659 ￿lated to staff costs, £146.225 related to other costs and E58.406 were governan￿ costs. Slaff costs are allocated based i)n an estimate of time sp8nt. other costs relati￿ to those ftsncts.ons which 5UFWrt the charity are allorAted directly or In the same propoli￿n as staff costs. 11. NET INCOMEIIEXPENDITUREI Net income/{expendilurel is stated after thargwwllcredib"ngl-. 2023 2022 Audttors, rernuneralion Auditofs, remuneration lor f￿-audit work Taxats"on advisory seryices Depreciation- owned assets Surplus on disposal of fixed assets Website costs amortisation 3,400 1.715 3,400 430 2.000 12.467 {1001 2.402 14.152 (20.0001 2,401 12. TRUSTEES. REMUNEIiATION AND BENEFITS Thère were no Irustees, iemuneralion (K other b&neffts for the year ènded 31 March 2023 or foi the year ended 31 March 2022. Trustees, expense5 Travelling expenses of £409 12022.. £Nill were paid by the chanly in ieg3rd5 to 2 trusiees12022-. 01 during the year ended 31 March 2023. There were no balances outstanding al the year end12022.. £Nill. Pagè 28 continued...

NATIONAL DANCE COMPANY WALES NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2023 13. STAFF COSTS 2023 2022 Wages and salaries SoGial security costs Other pension cLJsts 735.789 49.643 28,798 697.142 57,035 27,276 814,230 781.453 The average monthly nwrtjér ol emths duriThJ the year was as follows.. 2023 27 2022 23 Charity employees The number ol employees whose ern￿Oyee beneffits le¥chJdir*J empbyer pension costs) excee(led E60,000 was: 2023 2022 £60,001 - £70,000 The tot81 key management person￿1 rerwner8ts￿ beneffts pgid ￿11￿9 the ygar was £268,389 12021.. £188,T771. 14. COMPARATIVES FOR THE STATEMENT OF FIPIANCIAL ACTivYfiES Unrestricted funds Restricled funds Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 881,234 58.801 940.035 Charltable activities Advanong arts and education through dan 113.579 233.913 347.492 Other trading acb"wties Invostmenl inc4)me Other income 430 430 10.622 10,622 Total 1,005.867 292.714 1,298.581 EXPENDITURE ON Raising funds 416 416 Charitable activtties Advancing arts and educati￿ through dance 1.117.608 269,536 1,387,144 Total 1,118.024 269.536 1.387,560 Net gains on investments 140.074 140.074 NET INCOME 27,917 23,178 51,095 RECONCILIATION OF FUNDS Tolal funds brovghl forward ,382 58,382 TOTAL FUN05 CARRIED FORWARD 86.299 23,178 109,477 Page 29 conhnued..

NATIONAL DANCE COMPANY WALES NOTES TO THE FINANCIAL STATEIIIENTS - continued FOR THE YEAR ENDED 31 MARCH 2023 Is. INTANGIBLE FIXED ASSETS Website costs COST At 1 April 2022 and 31 March 2023 12.008 AMORTISATION At 1 April 2022 Charge for yeaT 9.006 2,401 At 31 Mard) 2023 11,407 NET BOOK VALUE At 31 March 2023 601 Al 31 March 2022 3,002 16. TANGIBLE FIXED ASSETS Fumiture. fithngs and .equipment lmw0vem￿ts to Motor vehic￿S Totals COST At l April 2022 Additions Disposals 13.077 85,851 16.532 30.709 129.637 16.532 30,7091 30,7091 At 31 March 2023 13,077 102.383 115.460 DEPRECIATION At l April 2022 Charge fof yeai Eliminated on disposal 839 2,615 45.464 11.537 30,708 77.011 14.152 30,708} 30.7081 At 31 M8rth 2023 3.454 57,001 60,455 NET BOOK VALUE At 31 March 2023 9,623 45.382 55,005 At 31 Mafch 2022 12,238 40.387 52.626 17. DE8TORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Tratje debtors Other deblors VAT Prepayrnenls and accrved incorne 21.329 1.753 8.376 285,463 17.563 1.753 18,438 261.571 316,921 299,325 Pagè 30 conb'ntsed..

NATIONAL DANCE COMPANY WALES NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2023 18. CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Bank overdraft Isee note 191 Trade Ciedilors Social security and other taxes Other credilors Accru815 and deferred incoff 75,993 119.528 16,613 18.715 112.755 84,800 15.711 37.593 184.190 343,604 322,294 I￿uded within accruals and delerreLI inctyme abtsve is deferred iro)mè of £2,96712022: £132.6991. Defer income of £132.699 was rdeased lo the SOFA in the year. Deferred inccvne relates lo funding received ￿ ayvance for proF(ts in nèxt financial year. The bank overdraft is Se£￿T￿ by a debentu￿. 19. LOANS An an*sis of the Ma￿￿Y of k)ans is gNen l>etow". 2023 2022 Amounts falling due within year on demarKJ.. Bank overdraft 71.198 20. LEASING AGREEMENTS Minimwn tease payments uThYer nOn-¢￿lIat￿e operating knes faN due as folk)ws'. 2023 2022 Within one year 8gtsY8en one and five years 6,156 17,187 1.156 6,1S6 18.343 Lease payments recogr¥sed as an eXPe￿e in Ihe year wrwnt to E11,42912022.. £11,578). Page 31 continued...

NATIONAL DANCE COMPANY WALES NOTES TO THE FINANCIAL STATEMENTS . Continued FOR THE YEAR ENDED 31 MARCH 2023 21. MOVEMENT IN FUNOS Net movement tn funds Transfers be￿een lunds Al 3113123 At 114122 Unrestricted funds General AsscKiatg5 Fund 86,299 163.851} 3.2351 13,2161 3.235 19.232 86.299 67,1)86 19 19.232 Restricted funds Dancè for Parkinson's Arts Council Wales- ConrRd an¢J Aourish Wales Arts IntemaborÈal- Tanzmesse 23.178 122.9301 16,941 19 248 16.941 191 23.178 5,9701 191 17,189 TOTAL FUNDS 109,477 73,056) 36.421 Net movement in funds. included in the above a￿ as fc4lows". Incoming Resourtes resour¢es expended Gains and 10sse3 Movement in fijnds Unrestricted fvnd$ General fund Associates fund 1.033,502 10.330 11.276.456) 113.5651 179.103 163,8511 {3,2351 1.043,832 11.29).0211 179.103 {67,0861 Restrlcted fvnds Arts Council England- Pwity Vènues Oènce for Partinson's Garfield Weston Culture Fund Arts Council Wales- Connect and Flourish Fenton Arts Twst- Choreographer Devebpmenl PrDJram Colwinston Trust- 40th AnrnNetsary Activities Julian Hcmyge FouThJatK*n - Discover Dance The London Community FouThJalion- Cockayne Grants for the Art5 - NOC Now Wales Arts International Tanzmes5e Arts CoLtncil Wales. Interna￿Onal Opportunities Fund Parts Arts Ctyjncil Wales- Moving 8eyond Cornpliance 11,50DI 141.8301 137.3971 {113,5201 18,900 37.397 130.461 {22.9301 16,941 I5.0￿) 140,0001 15.0001 10.000 15.000 110,0001 114,9811 19 10.IJXI 110.0001 140.0001 10.000 10.1)001 323.258 329.2281 TOTAL FUNDS 1,367,090 1,619,249} 179,103 73,0561 Page 32 conb"nued..

NATIONAL DANCE COMPANY WALES NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2023 21. MOVEMENT IN FUNDS- continued Comparati¥è$ for movement in lunds Nét movement In fun¢Js Transfe be￿een funds At 3113122 "At 114r21 Unrestrleted funds General fund Ass¢xia¢es (und 56,712 1.670 33.206 5,2891 {3,6191 3,619 86,299 27.917 86,299 Restrscted fisnds Oance for Parkinson's 23,178 23.178 TOTAL FUNDS 58.382 109.477 Comparatwe net movwnent in funds. in the ab(we af• as lollov48.' Incoming Rewrces expended Gains and losses Movement in funds UnreslTlCted funds General fund ASs￿lateS fvftd 998,552 7.315 11.105.4201 12.6041 140,074 33,206 5,2891 1,005.867 (1.118.024) 140.074 27.917 Restricted fund$ Art5 Council England- PIKNity Venues Dance lor Parkinson's Esmée Fairbaim FoundatK)n- Grdnts plus Plethu EsrTrée Fairbaim Fwndat#Jn- Leamir Lèad Dancer Cullural Recovery Fund Colwinsion Twst- LUOO Grant Garfield Weston Culiure Furk Arts Council Wal8s- Connect and AtyJrisl) John S Cohen Foundatson Fenton Arts Trust- Choreogrnpher Devebpmenl PfO3ram 13,500 42.0(Kl 6,000 {13,5001 118.8221 16.0001 ii.soo} 23.178 18.263 40.001 {18.2631 {40.0011 Is.0001 {118,465} 137.9851 Is.0001 118.465 37,985 5.0011 292.714 269,5361 23,178 TOTAL FUNDS 1.298.581 1.387.560) 140,074 51,095 Restricted fvnds Arts Council England . Priority Venues- Funding receNed to suprort performances in Engfand. Oance for Parkin$￿'S - Funding has been received from a numbef ol dilre￿nt sovrces in support ol the Dance for Pat*inson's piogr￿Me, which gNes people wth Path1nSc￿'s the opwrtunity to engage wilh hi9h qu81ity dance dasses. Weston Cullure Fur>fl (Garfield Weston FoundatioT)l - This vital iTweslmenl 5UPPOrtS the Companys r&turtT lo livè performance in 2021 and 2022. Greation of vaned digilal conlenl and reconnecting with comrnunilies and audiences in l(xJrI￿j loulions wilh a specific focus on a¢ts"vity in Wales P8ge 33 continued..

NATIONAL DANCE COMPANY WALES NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDEO 31 MARCH 2023 21. MOVEMENT IN FUNDS - continued Connect and Flourish - Ajts Council of Wales Conned & ￿oUn$h grant svpports the development phase of Tu Hwnt i'r Gotyn l Above & Beyond. This is an ambiThous long-tem Pfqect which brings arts and non-arts Partners iogether with the commurNty of Penthys aThJ the SLffroJndirwJ Rh￿thI8 Cynon Taf IRCTI communities to dèvelop a model of co-creatK)n. Fenton Arts Tru5t- Laboratori Grant to SUPPKJrt Laboratoii 2021. whth provwJ8s an ess8nl.al R&D ¢)pportunity for independent choreographers to expand on their irKJependent p￿11¢￿S and worfK bwlh daDcers. visual artists and mentors. c0￿1n5t0n TNst - LUDO - Grant to 5UPPOrt the rXe8t￿ of LUDO 8nd subsequènt performa[￿5 during the spring 2022 tour One AnoiheilLaw Yn Ifaw. Hodge FoundalKJn - £S,LX)O funrfing trywards the Discover Dance spring tour in Wales. Cod(aynÈ Grants for the & London Community Foundalion - £10.000 tOW8rds Lond￿ perfortnances of Say Something & Wallz. Wales Arts Inlemal#x￿I - Tanzmesse - £1s.l￿ tchvards costs of staging a dance from Wale5 al the live edition of Tanzmes5e. Arts Cwncil of W￿•$ - 1ntematlL￿aI Oppjrbjnll￿S FurKJ £10.0￿ towa￿5 Investment in development of international touring strategy. Parti - a ctrcreated woject thal presented an eyenry ol dance perfomed. devis&J aThJ created with and lor COn￿￿nitIes- Ammanford and Ystsadgynlais. Arts c0￿C￿l Wales (Arts Heallh & Wellbeing Lott￿ FuThJrrKJ} - Moving 8eyon(J Cunpliance - £10.000 towards Partnership project with Cartr¢fi Cymru Cocyerative to explo￿ how ￿veMent can b8nefit staff working in carè setting5 Prior year restricted funds Plethu - The fee from Welsh Govemment vrds to c¢xnmissK)n th￿e Plelhu film$ - short films created by 8 dancer and poet working in partne(ship. The films a￿ being used to prwnote the year long Welsh Govemmeni campaign, 'Wales in Gem)any'. Esmé8 Fairbaim Foundation - Leaming Lead Dancer- Supp)rt for the saLary ol Learning Lead Dancer. Esrnée Fairbaim Foundation - Grants P￿$ - FunthThJ wa5 r￿1ved io support a pwicrfj of researth lo inform th$ strategy and planning for S¥h¥Ys nexl?w Roots_ Cultural Recovery Fund- Granl to SUPPOrt the thses incuired by the company due to the imp* ofCovKI 19. John S Cohen Foundation Wild Thoughts - Grant to support the ￿ation ol Wild Thoughts and subsequenl performances during Ihe spring 2022 tour (kne ATh)therlLaw Yn Ilaw Designated fund5 As50ciales fun(J - All Ineome fecewed lor dance C￿￿e5 ft)r young d3￿r5 aged 14 to 19 years dd is designated lo be spent on the training ol Y￿n9 dancefs. Transfers between funds A transfer 01 £3.619 was rnade from the general lund to the designated associated fund, rep￿SentIng th8 OV8r5pend on th8 associates fund during Ihe year The balance on the assouate5 fund was brought to ENil al Year-￿￿. Page 34

NATIONAL DANCE COMPANY WALES NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023 72. EMPLOYEE BENeFIT OBLIGATIONS The charity operates a defined conlribJlK*n pension scherne. The assets ol the scheme are hdd 5eparalely frorn those of the charity in independenlly administered funds. The pension cost charge represents conlnbutions paid by the charity lo the fund and amounttd to £28.79812022.. £27.2761. Contributions OUtstand￿g al the year en amounted to £4,58812022." £4,783). 23. RELATED PARTY DISCLOSURES Aggregate donabons r￿e1ved frorn trustees during the year amounted to £300 12022.. £5801. There were no further related party transactions for the year ended 31 March 2023 that require disdosure. Page 35