2024-03-31-accounts

REGISTERED COMPANY NUMBER: 01672419 (England and Wales) REGISTERED CHARITY NUMBER: 326227 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 FOR NATIONAL DANCE COMPANY WALES MHA Statutory Auditor Elfed House Oak Tree Court Cardiff Gate Business Park CARDIFF CF23 8RS

NATIONAL DANCE COMPANY WALES CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Page Report of the Chalr Report of the Trustees 2 to 17 Report of Ihe Independent Auditors 18 to 20 ststement of Flnanclal Activities 21 Balance Sheet 22 Cash Flow Ststement 23 Notes to the Cash Flow Statement 24 Notes to the Financial Statements 25 to 38

NATIONAL DANCE COMPANY WALES REPORT OF THE CHAIR FOR THE YEAR ENDED 31 MARCH 2024 2023124 has been an exaling. challenging and inspiring year for NDCW. The artistic development has continued at pace. with new choreography by the Artistic Director Matthew Willsam Robinson and innovative collaborations with amazing Welsh talent and a range of people from across the UK and as far as Korea. The collaborations extend lo the music. costsjme design and staging. The breadth of work has inspired and excited the daneèrs. company and audiences, winning accolades both in the UK and internaEionally. More young people than ever belore have been inspired to apply to join the Young Associates programme targeted at 14-21 year olds, supporting those with aspirations for a career in dance, providing a pre-vocatsonal training platform. and enhancing the physical and mental health and wellbeing of young people. We are delighted to have widened engagement on diversity and across Wales. The focus on young people has continued wth Above & Beyond, the ambitiou5 co-crealion project which brings arts and non-arts partneis together with the community of Penrhys. The pro9ramme is in ils 5th year and the positive effect on the community can be seen. lives changing for the better, anecdotal evidence that crime among young Feople in the estate has gone down, and respe¢t amffig the community in￿astn9. For the young people in the Amped Up academy their ability lo focus, maintain concentration and commit to the process and workshops has seen them glow in confidence, togelhemess and resilien￿. This year the young people worked towards a perfcrmance they o)-¢realed called Dreams. about their aspirations, hopes and dreams for the future. The piece encompassed beat boxing, song. and dance. and wll be perfomied three times in the coming year (at Unity Festival. Rhondda Arts Festival and the National Eisteddfod). We are defighled to work wth new partner Cardiff Melropolllan University this year. Together we have explO￿d the challenges that teachers a￿ facing in delivering the Dan￿ element of the CurrFculum for Wares and considered how we can best support this, delivering lectures, podcasts and shaping teacher tools as a consequence. We are also the lead arts organisalion working w7th Cardiff Met to help them develop an MA in the Expressive Arts, and have developed a partnership with the Welsh Government Curriculum Team resultfftg in an invitation to present and run a dan￿ workshop for Cardiff Hub Teachers at an ExpressTrve Arts OFen day. Our work focused on leveraging the wellness benefrts of Dance thriyjgh our long funning Dance for Parkinson's programme, expanded with the support of the Awen Cultural Trust to pilot new Dance wth Pathinson's classes in Porthcawl, alongside existing provision in Cardiff. Bangor and Wrexham. The year has also seen sadness ￿th the death of our highly esteeffled tnjstee Eleanor (Elli) Chapman, an inspirntional leader in arts for young people. Her family and Elli will always be in our thoughts. The challenges faan9 the arts sector on finance and building back audiences after Covid did not escape us. We. under the leadership of Paul Kaynes spent a considerable lime in shaping the investment review submission for Arts Council of Wales, and we were pleased to receive a stsnd still funding level for 2024 onwards, plus support to wrsue new commercial revenue ideas. The year ahead continues to be a challenge as we aim to build financial sustainability. Paul has now moved on to an exctting post with Arts Council England and we would like to thank him for his nine years of commitment. innovation and support to NDCW. As we shape the delivery of the Strategy and Business plans, we look forward to seouring a strong leadership to Tealise our ambitions. We have an exab'ng range of new programmes to present to audiences in 2024. and are proud to be able to continue our work with young people and in the fields of education and health. With a full touring programme planned across the UK we look forward to opportunities to meet wth you and share our love of dance. Alison Thome Chair of Tntslees, National Dance Company Wales Page 1

NATIONAL DANCE COMPANY WALES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The Iruslee5. who are also direGtors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The tnJ5tees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Flnartial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 102) leffeclive 1 January 2019). OBJECTIVES AND ACTIVITIES Objectives and aims The obJ￿t$, as slated in the goveming documents, are to educate the public in the arts and sciences and in p8rtÈcular fhe art and sdence ofdance, muslc, drama and mime. Nattonal Dance Company Wales, INDCWales) prinapal ots'ective is the advancement of. and education in dance. The Company tours lo theatres across Wales, the UK and intemationally. It creates dance projects, one-off everrts and ongoing programmes in Wales that give to(zl people the Chan￿ to dance. working wth NDCWales dancers and dan ambassadors. We believe that dance is for everyone ~ people of all ages, backgrounds and abililies. To achieve that, we work with schools, colleges and communilies lo give people an experience of dancing for themselves. Progfammes such as Discover Dan￿ and assoc¢ated workshop programmes are designed to encourage young people, whilst our VK)rk in the health a￿na explores how we can ena￿e older and disabled people to dance, to alleviate health conditions and to inspire creativity. The Compary seeks to diversify and build new audiences and participants for dan￿, as we deepen conne¢lions in every corner of Wales and other place5 we tour. fostering co-creation projects in pla￿5 where there is litle opportunity to see or watch dan￿. In order to diversify who watches and participates in our work, we want to reflect the people ot Wales, who we commisslon and worf( wtth as artists. board members and staff. We ale also tmproving a¢￿5$ to dance for Deaf and disabled people. As a national company ot Wales. we advoL3te for dan￿ as an artform. for its abil￿￿ to transftjrm the worfd around us. Our work values perfomiance and engagement equally. inleTweaving the opportunity to dance wth the Chan￿ to wtness dance relecting many Vol￿5. NDCWales is just one part of an active Welsh dance community. sharing its kno￿edge and connections with arbsts. dance piomoters and those who work in participatory dan￿. Collaborations wlh other companies and artists enable the Company lo create new and different kinds of work and reach new audiences. By wothing atongside the wider dance sector of Wale& NDCWale5 fosters innovation and ambition. investing in Wales-based artists and people's experience of dance in Wales to help create a vibrant dance culture for the natson. Current and fubjre collaborative projects include work wtth communty dance artists. with other national companies of Wales, writers and with communib.es on co4esigned projects. The C(xnpany's home al the Dan￿ House at Wales Millennium cent￿ in Cardiff is a place where independent We15h dan Companies and artists can a¢￿$$ creative inspiration through residencie& ￿searCh and mentoring. The Company offers a world-dass facil(ty for the creation of new dance which ts ￿ntral to the Company's leadership role and as a resource for the dan￿ sector in Wales. The Company works with artists from Wales offering a￿8$ to leaming and other resources, such as offerFng residencies and ac￿$5 to rehearsal space to our I￿0 Artistic A5soaates. Through multiple training programmes the Company invests in the aspirations of young people, developlng and supporting young dancers in Wales. Dance has a unique role to play in education through creative leaming programmes which c£pitalise on its abrlity to develop rx)nfidenTr and tsam-working, to overcome language communication bafftets, and develop self*steem. enhancyng learning experiences and life chantss of young people across Wale5. Our local and intemational collaborations wth artists increasingly reflect the INed experien￿ of many different communities. As we diversify Ihe atthsts we work with, we are ensuring that our operational structu￿$ support change and equity. Volunteers play various roles in the Company's work, including a5 trustees and In supporting and delivering dance lo health programmes such as Dance for Parkinson's. The Company monltors its progress using a number of Impact measurès. including: Page 2

NATIONAL DANCE COMPANY WALES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 - Audience and participation numbers and demographics - Monitoring the critical response to the woik created and performed - Achieving the change set ￿1 in our Equality and Diversity Action plan - Diversifying and increasing income - Financial perfomiance Monitoring stsff retention and Satisfaction levels. 2023124 Objectlves The new Business Plan 2023-27 delivered its first year of objectives duiing this accounting period. Our vlslon is a world enriched by dance. We dance lo express ideas beyond words. exploring what it means to live in Wales and the wortd now. We are of many voicEs, in many places. worknng togetherto ￿nnect and transfom. Part of the role of a contemporary national company of Wales Is to shape Wales. We help it lo imagine itself. enabling the nation to recognise the parts of Ftself that are not often seen. Our international work reflects the idea that Ihe wodd is already in Wales - not least through our Colonial history - so our inteinalional working relates as much to our environment as it does lo othe￿. Our priorities are: - Widen engagement across our work by placing justice at the heart of everything we do - Champion innovation and excellence in dance, nuriuring lalent and enabling change - Advocate for dan￿ as an essential platform for human eXp￿$s1on and wellbeing Build on our agilty. sustainability and financial resilien¢e. Our values are: Curlous - to discover new ideas. to learn and innovate Collaborative - in the way we connect with eaGh other, artists. communities. audience5 and partners in and beyond the cultural seclor Courageous - in our ambition for dance in Wares and the world. thampioning thange Generous- by sharing our passton. knowledge and resources The executive team during the year was made up of Chief Executive Paul Kaynes, Artisti¢ Director Matthew William Robinson, Operations Director Kelly Twydale Imatemity18ave sinrR O¢tober), Executive Producer Chris Rtcketts and Head of Development Becky Wright (from May)- The Board meets quarterly and is 5UPPOrted by two sub<ommittees. The People and Finan￿ Sub.Committee meets quarterly to scrutinise and report to the full Board on the Company's financial perfom7ance, risk monitoring and the creation of new staffing and other policies and action plans. The Chair of the Committee is Cathryn Allen. Its additional members are Huw Davies and Giovanni Basitetti. The Chair is an ex-officio member of the sub<ommittee. An ex-offiuo member has no voting rights to prevent possible confiict when SUb￿MMittee ￿¢0MMendatIor￿S are conSide￿d by the Board. The second su￿mMittee Is the Artistic Advlsory Group, which reports on the Company's programme and its knpact, and acts as a sounding board for the artistic planning team- it consisls of two trustees - William James and Krystal Lowe, along wth four external members. Page 3

NATIONAL DANCE COMPANY WALES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 OBJECTIVES AND ACTIVITIES Public benefit The trustees can Confi￿ that they have given considerab'on to the Charity Commission's guidan￿ on Public Benefit. arKI they consider that they have hjlfilled Ihelr aims of advancing the arts through public perfomiances. education and participatory activity. and the nurturing and development of individual dance artists. The company's work airns to be accessible and indusive to people of all ages and backgrounds Ihroughout Wales, the UK and intemationalfy. The full scope of this work is illustrated in the following Summary of Activity for the year. ACHIEVEMENT AND PERFORMANCE Charitable a¢tlvitie5 Production and Perfomiance 2023r24 was a busy year. We created new woll toured across Wales and into England. collaborated internationally and performed in Seoul. Itaty and Germany. The year started with the ¢onlinuation of the PULSE/PKS tour. wth performances al The Place in London, Aberystffji Arts Cent￿, the Torch Theatre in Milford Haven. Derby Theatre, the Sherman Theatre in Cardiff. Lawrence Balley Theatre in Huddersfield. Theatr Brycheini¢yJ in B￿COn and Taliesin in Swansea. They are all important venues to the company and integral to our long-temi touring intentions. Our visit to the Sherman Theatre also included Gatheiing. a special evening marking 40 years since the company was established. Gathering featured a foyer Ixrtain raiser by young people involved in the Atsjve & Beyond project in Penthys, SEPTEMBER by Matthew William Robinson, the company's Young Associates performing Erupt by Jack Philp. arKI Say Something by Sarah Golding and Yukiko Matsui. Hosted by the radio DJ Sian Eleri it was a joyfvl evening focussed on the company's NOW/NA WR season 8nd our aspirations for the future. Summer 2023 saw us creating and performin9 4x10 at the Dance House. A quartet of short works, 4x10 0)mprised comrrbission5 by our two a￿StIC a$$ociates. June Campbell-Davies and Osian Meilir, a piece by Daisy Howell, a choreographer from Wrexham who is now based in Manchester, and a piece created by Matthew Wiltiam Robinson for our Young AsscKiates. Staged with the audien￿ on four sides Èt offered a rare opportunity lo bring associates and company dan￿r$ together and was much enjoyed by audiences. October and November 2023 saw the realisalion of a long-term aspiration to collaborate wtth Kow National Contem￿rary Dance Company (KNCDCI. With investment from KNCDC and Wales Arts International we worked wth Ihe Korean choreographer Boram lfjm to create Calachory, which was then perfonned at Seoul Arts Centre In South Korea alongside a piece commissioned by KNCDC for tl$ dancers by the Welsh choreographer AntlKJny Matsena. It was a wonderful project to have been part of and underscored the importance of collaboration and cfyprojuction alongside the company's established inlemalional touring. In December 2023 we premiered Zcetrope, our first full length commission fof younger aUdier￿e$ and their families. cOn￿1Ved and chorec>Jraphed by Lea Anderson MBE. it brought together a number of her long-standing collaborators to create a piece that younger and older audiences have been enjoying. 'An amusingly offoeat creation from an artist as imaginative as ever., The Guardian PULSE continued through the autumn and into eady 2024. with performances at the Jerwood Dance House in Ipswith. Ihe Dance House in Cardiff, the Musikè festival in Padova. Italy, Obertheinhalle in Offenburg, Germany and Stadttheater Fi)rth, Germany. PULSE touring culminated in ear￿ March 2024 with four sell out performances at the Schrtt_trnacher festival in Aachen, Germany. Discover Dance featured at two dlfferent points in the year. Accompanylng PULSE. and wlth Edward Myhill's piece Are People Clapping.1? a5 part of the perfomiance, it toured venues in April and May 2023 alongside PULSWS and was performed at the Dance House in Cardiff. In March 2024 a remodelled version with extracts from Say Somelhing was successfully presented at Galeri in Caernarfon, Neuadd Dwyfor in Pwllheli, The RNerfront in Newport, The Welfare in Yslradgynlais and Penrhys Primary School. Page 4

NATIONAL DANCE COMPANY WALES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 November 2023 and February 2024 also saw us involved in a research collaboration, supported by the Cultural Bridge programme. with Of Curious Nature, a repertory Cotnpary based in Bremen. Germany. Forjjssed on socially engaged practice il was a mafker for how we want to shift our ￿ternational presence and develop longer term, collaborative relationships. Our proje¢l wilh KNCDC was significant in this respect too and the momentum generated by both is something we wll seek to Continue. Over the year the company gave 51 perfomiances to an audience of over 14,000 people. Works performed during the year. Waltz by Marcos Morau Performed extensrvely as part of the PULSEIPWLS double bill. Say Something by S8rah Golding and Yukiko Matsui With music by MC Zani and Dean Yhnell, costume designs by George Hampton Wale and lighting design by Joshre Ha￿lette. Performed extensively as part of the PULSEIPWLS double bill and excerpts as part of Discover Dance in March 2024. SEPTEMBER by Matthew William Robinson Ih music by Torben Sylvest and costume designs by George Hampton Wale Perfomied a5 part of Gathering. May 2023 4x10, August 2023 Akln/Perthyn by Daisy Howell GO by Matthew Wlliam Robinson Imprlnt by June CampbeN-Davies UN3D by Osian Meilir With costumes by Layla Zheng Catachory by Boram Kim Wth music by Jang Younggyu A collaboration with Korea National Contemporary Dance Cumpany performed at Seoul Arts Centre as part of Wales Connection Zoetrope by Lea Anderson MBE With music by Steve Blake. designs by Simon Vincenzi and lighting design ty Maty Langthome PreMIe￿d in December 2023. with perfomiances at the Dance House. Cardiff Creating work and performing al differenl points through the year have been a wonderful o)mpany of dancers - Maya Caroll. Luca Chiodini, Ays Davies, Samuel Gilovitz. Jill Goh. Sarah 'Riz' Golden. Niamh Keeling. Marla King. Mario Manara, Pielro Mazzotta, Bianca Mikahil, Edward Myhill. Ai5ha Namaani, Tom IYGorman. Paulina PoNolik, Euan Stephen. Faye Tan, Vilo Vidow Bintchede and Tim Voifeman. Dance Partlcipatlon and Learnlng Engagemellt is key to who we are as a Company and what we do, enabling us lo deliver social impact and long-lem) change for the people we engage. Our creation. perfomiance and engagement prcgrammes inform each other. putting artists and their work in dialogue with communitses, audIer￿S and participants. Page 5

NA TIONAL DANCE COMPANY WALES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Strategically. our engagement works ensures.. We Involve By inviting collaboration and encouraging parttdpalion. we work wlth people where they are. We aim to broaden access and enhance wellbeing for all ages by promoting physical activity and creative engagement. Across Wales we engage a netsvork of freelance artists WI￿ are embedded in place. This network develops ongoing community re1ation5￿ps. collab)rabvely deVelo￿.ng long and short-term projects. Embracing cwreation, Gommunilies steer the diredion of share projecls that are rooted in pla￿ and community ambillon. We Develop Oui ialent development programmes support those wlh aspirations for a career in dan￿, on and off stage. Specifically for young people we seek to nurtu￿ p)tenlial and encourage physical and mental wellbeing lo enable sustainable development a5 individual artists. in an evolvlng dan￿ sector. Our Audience Insight programmes open up dance and ueative pro￿$$. offering opportunities lo understand how and why we do ￿at we do. We aim lo reach new audiences and deepen existing audiences, appreciation of dance. We Enable We want to be part of a thrivlng, diverse Welsh dance ecology. We enable artistic innovation and development through ongoing and proiect-based progfammes, developed in dialogue and collabofalion with others in the Welsh dance sector. We enable Welsh and Wales based ¢horeo3raphic artists to fulfil their artistic aspirations with space and time, supporting work which aligns with our strategic aims and purpose. 2023124 has been a very productive year. Highlights have induded the expansion of wr work with Young Assoaate dancers across Wales, the addition of a 5th Dance for Parkin50n'$ hub in Porthcawl, sold out and popular youth dance event in Launch. and the fiourishing of our community WOFk in Penrhys. The projects deliVe￿d during 2023124 included= Young Associates PfO9ramme Launch Youth Dance Night Zoetrope school and family activtty School workshops Curriculum for Wales Development of S¢hool Teacher Support in Dan Engagement Artlsts Training Day Above & Beyond Amped Up Academy in Penrhys Dance for Parklnson's 4XIO Page 6

NATIONAL DANCE COMPANY WALES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Young Associates Programme The programme this year for 14-21 year olds has SUPPOrted those wth aspirations for a career in dance. provlded a pre-vocational training platform, supported the physical and mental health and wellbeing of yourw people, helped young people develop life skills teyond the physical such as soaal and communication ski115, and advocated for the transfo￿natiVe power of dance to enrich people's lives. 21 auditioned for the programme in July and 19 slgned up for the start of the autumn tsrm in Cardiff. This year our strateglc aims have been to address the issue of equity. diversity and inclusion in dance. Thanks to funding from the Gaffjeld Weston Foundation. we have undertaken stralegic work this year to seek and engage with and encourage male identifying flancers. dancers from the global majority, and dancers from underrepresented groups. Our Lead Engagement Arti51 Jad( Phelp and Freelance Engagement Artist Liam Wallace have undertaken a series of workshops in secondary sGhools. especially those in socially disadvantsged areas. in privatelcommunity dan￿ s¢hools where there are male identifying danceis, and in other social Settings. These workshops have taken Place across Wales. We invited those that we foufftl IhroLvJh these wot1(shops to join the programme from J8nu8ry and of the 199 dan￿rS that we met, an additional 10 young dancers joined Ihe progr8mme. We offered free 24ay intensive workshops in Cardiff for the dan￿TS scouted and open to the general publio These workshops helped the new dancers integrate into the Young Asso¢iales group. Spring 2024 offered a special workshop day with Northem Contemporary School ol Dance on 21 January. In February half term the team delivered a twday inlensNe WOTkshop to pilot Young Associates potential in Wrexham. This is to meet our aim to Inspi￿ dancers nalionwde. In November our Young Associates created a new work to perforn in Launch. This element of the Young As50oyates programme created an opportunity for our dancers and dancers in communilies to perfomi together and to foster a sense of community through crealive engagement. LAUNCH Youth Dance Ni9ht Launch is a programme that brings together dance ma¢Je by young people of various youth dance programmes. Launch helps foster a sense of community through creative engagement in perfonning alongside one another. This year 63 participants took part. and we reached an audience of 204 across fhe two performances hdd on Saturday 25 November 2023. Engagement Artlsts Tralnlng Day We inMted Engagement Artists from all over Wales and also from ¢)ur English touring venues to The Dance House lo watch a dress rehearsal of Zoetrope and to develop a workshop for Key Stage 2 Primary School children around the piece. In lola18 Engagement Artists attended. Zoetrope School & Family Activity The team developed a Teacherfs Resource Pack for primary schools around some of the thernes in Zoetrope with six detailed lesson plans and worksheets. Schools attending Ihe December perfonnances eryoyed Zoetrope dance worksh)ps alongside. For the Salurday performall￿ we p￿sented a Zoetrope prop making workshop and a family dance workshop in the foyer of Wales Millennium Centre pre matinée performance for family audiences. Across the seven performances in December 2023. we reached an audience of 551 and we ￿ached 55 participants for the Saturday family aolivity day of prop making and famity dance workshop. Page 7

NATIONAL DANCE COMPANY WALES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Dlscover Dance In Spring 2023 we perfomied our Dlscover Dance production of Clapping in Cardiff. Aberyslwh 2nd Swansea reaching a school's audience 01290. In Autumn 2023 we perfonned a new Discover Dan￿ production around Say Something in Caemarfon, Pwllhell, Newport, Ystragynlais and Penrhys reaching an audience of 377. Amped Up Academy in Penrhys IAbove & Beyond Above & Beyond is our ambitious Co-creation project ￿lch brings arts and non-arts partners together with the community of Penrhys. The programme is in its 5th year now and the positive effe¢l on the community has been reported. For the young people in the academy their ability lo fows, maintain concentratson and commit to Ihe prO￿$S and workshops has seen them grow in confiden￿. togelhemess and resilien￿. Weekty sessions for babes and lots, heallty movement for adults. after school dub and evening café (parkour and dan￿ and vatious arts-based activiliesl have taken place throughout the year. There was also a Fun Day in the summer holiday5 and Inlen5ives in half term. This year the young people have been ready to work towards a perfomance that they co-crealed called Dreams, all about their aspirations and hopes and dreams for the future. This year we had 1,646 attendances at our sessions. Dance for Parklnson's We continued this year w71h our re9ular weekly offer of Dan￿ for Parkinson's sessions over three tetms in Cardiff, Bangor and Wrexham. However. our numbers in Blackwood continued to be low in the summer and autumn teTms this year and so we made a deasion to pause on delivery in Bladfw¢)od from January this year. We initiated a new wllaborative partnership with Awen Cultural Trust and thanks to their ftmding delivered taster sessions in POrth¢a￿ in November and De￿mber and delivered a full 10-week temi trom January to March. The sessions were well attended. Our Dan￿ for Parkinson's programme is very much partnership led and we have worked tojether wlh the foll¢)wing partneTS to deliver our extensive programme of 102 sessions awss Wales this year resulting in 861 attendan￿S- English National Ballet Pontio. Bangor Coleg Cambria. Wrexham Caerphilly Cauncil and Blackwood Minerfs Institute Awen Cultural Trust, Porthcav Curilculum for Wales l Dance support for teachers This year saw us develop a strong partnership bmth Cardiff Metropolitan Unive￿Ity. Together we have explored the challenges that teachers are facing in delivering the Dance element of the Curriculum for Wales and how we can besl support. For Cardiff Met we have delivered a lecture on the benefits of Dance to students. delivered a podcast on why Dance is featured in the Curriculum for Wales. and are in dis¢u5sion with the University using our Zoetrope teache¢s reswrce pad as a leachin9 modevtool for their trainee teachers. We are also the lead arts organisation working with Cardiff Met to help them develop an MA in the Expresstve Arts. We have also developed a partnership the Welsh Govemment Curr*culum Team and were imiited lo present and run 8 dance woikshop for Cardiff Hub Teachers at an Expressive Arts open day. We have also begun the work of developing leachevs support pack and 5ertes of films to help support primary school teachers. 4x10 4XIO, one of our landmark 40th year anntversary projects, enables the production and presentation of distinctive new work by our Associate Artists (June Campbell-Davies, Daisy Howell and Osian Meilir) and gtjest artists. The four new work5 are from arttsts who are shaping perceptions of conlemForary Wales- each in different ways and from different perspectives. It is a150 a platfomi to elevate the young talent that exists in our Young Associates programme, placing them alongside our professional company of dancers, and providing the unique opportunity to cooeate wth our Artistic Dire¢lor, Matthew Wlliam Robinson. Page 8

NATIONAL DANCE COMPANY WALES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Re9ular Engagement Opportunltles that are ongoing Workshops Open Rehearsals Post Performance Discusslon Join company class Residency & Space Play Welsh Ballroom Community Wales Dance sector support We continued to support the wider dance sector in Wales through the year. We recognise the resource5 we have available. particularly the studios at the Dance House, mean we are in a unique position to help support arti51s and companie5. Our role though is also about supporting artists more broadly through oppoTbJnities such as company class and mentoring. Use of Dance House space is made available to artists and companies on a frequent basis. wth few weeks in the year when other practitioners arenl in the building at some point. Often the time we can allocate is used as in-kind support lo help secure investment in projects and productions, other times space is made available on a standby basis for art4sts who want lo ￿Search an idea or spend creative time in the studio. Regular studio use is also made available to a number of groups and community prO1￿ts Ihat help support our wider strategic inte￿$ts. increasing the diversity of participants involved in events at the Dan￿ House for exampfe. Over the year. 541 hours of in-kind studio time was made available to artists, companies and community groups, and a further 192 hours hired at a reduced rate for rehearsals arHI perfomiances. The number of guest attendan￿S al Company dass totalled 388. Access We are extending how we make our work available lo more, especially those who aE Dldeaf or disabled. There are a number of ways in which it has been done this durlng 2023124. We have continued to tncrease our use of British Sign Language (BSL) supported events. with BSL provided as standard at events Sn Cardiff al post show talks, as well as increasing our use of BSL supported soaal media. AudiTrdescription was available for all PULSE I PWLS and Zoehwe performances as a pre-recorded element available vkg the loop system where possible. or through people's phones alongside performances. For PULSE and GA THERING in Cardtff, audio description was available live and induded an invitation to audiences to lake part In a touch tour prior to the perfomance. A relaxed version of Zoetrope was trailed at Dance House in December for family audiences and was a good leaming experien￿ and followed by an ackn¢)wledgemenl of fijrther work needed betore this is offered as standard. We have also made a commitment to accessible recruitrnent in order to diversify our staff base. ensuring that all jobs, opportunitie5 and call outs are advertised with BSL, large print and audio options available. and that PDF downloads are screen reader compatible. Across our marketing materia15 and projects. accessibility was made a priority, extendlng audio options on all most wdety used web pages, and digital programmes as well as producing audio and BSL flyers for all performances. We also im￿eMented 'ac¢esslBe' on the NDCWales website- a widget ￿tch supports various needs for those using OUT srte Including changing colour, slze. contrast and highlighting for easier focus. The marketing team ￿ntInueS to undertako regular accessibility training. AII NDCWales wdeos are caplioned bilin9ually. and we have given support lo other Welsh dan￿ OTganisations by offering training on how to do Ihis, and by captioning othevs videos when they are unable lo do so themselves. Attendan￿ by audience members at the Dance House who use a wheelthair has increased, with a focus on making the space as a￿Ssible as possible and providing personal service when able. Page 9

NATIONAL DANCE COMPANY WALES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Sustainablllty and Support The challenges and increased competition for private funds has been felt across the charitable sector during the 202312024 financial year and especially by Arts organisalions. Changes lo spending and priorities across all aspects of giving. compounded by the impact of the pandemic and cost of living uisi$, made for an extremely challenging year in securing lundraised income. The focus for NDCWales was predominatety grant income in this finanaal year and we are thankfvl to all those who have provided much valued and necessary support lo enable the continued delivery of our arbstic and strategic priorities. We are extremely gratefijl to our Lifft individual donois whose suppo¢ financial and ambassadorial, is so vi121 to our present and fvture. We were delighted and grateful to secure a hvo-year pledge from the Colwnston Charitable Trust. This Tenewed and increased support. follown9 SUPPJrt for NDCW21es in Ihe Pfesenlation of ils 40th year season, has prov¢de¢J critical core investment to support the delivery of NDCWales' artistic programme ¢)ver tsvo years (2024 and 20251. A grant trom the Garfield Weston Foundation enabled the development and expansion of opportunities for young people to access NDCWales Young Associates more widely across Wales. This vital investment facilitated the trial of new approaches in different parts of Wales ￿lCh has provided essential leaTning to inform a framewo￿ lo deliver a broader Nocwa￿S Young Asso¢iates programme across Wales in the long tem. A grant from Ihe Noèl CO￿ard FourKlation supported bursaries and travel expenses for three new dan￿[$ to join NDCWales' Young Associates company and contributed towards the C￿$t of engaging Young Associates dan teathers who are representative of the global rnajorityldiverse dance styles and skills. Support from Ihe John S Cohen Foundation contributed towards the presentation of PULSE at The Place, London The Leche Foundation supported the delivery of 4x10 whth enabled four choreographers to create four ten-minute dane£ works. p￿sented for an audien￿ at the Dance House on four sides. in May 2023. Support from the Hodge Foundation and Abderrahim Crid(may Charitable Settlement provided investment towards the p￿Sentation of Zoelrope, a specially comffli5sioned work for youry peO￿e and families wilh the aim of expanding our repertoire for a broader audience. We offer our sincere gratitude tt) the Ratcliff Foundation. The Eyoyty Carte Charitable Trust and Oakdale Trust for supporting the continued delivery of our Dan￿ for Parkinson's programme in Wales during this financial year. We continued to deliver Above & Beyond, a co<reated project delivered in the village of Penrhys in Rhondda Cynon Taf, thanks to support from an Arts Council of Wales Create lottery grant and adcfitional activity was made possible by a TP Cerdd Lottery grant. Support from Wales Arts Inlemalional enabled the expansion of our intemational connection5 through a collabordtion wrlh Korea National Contemporary Dance Company IKNCDC). supported by an Intemational Opportunits'es Fund grant. and a collaboration with Of Curious Nature. a dan￿ company based in Bremen. supported by a Cultural Bridge grant. A grant from Arts Council of Wales lo support business development enabled a project with three specific areas of focus - revenue, branding and customer relationship management (CRM) - to help the Company to achieve futu operational goals and sustainability. ile the focus of effort has been on securing income withln the 202312024 financial year this has been alongside Pfospecting and laying foundations to secure support for 202412025. We are working wthin a highly competitive and changing fundraising landscape across business, individual and grant income therefore we retain the agilty requiied to respond to opportunities for funding to suppjrt NDCWales' immediate and fijture strategic and aitistic goals. Page 10

NATIONAL DANCE COMPANY WALES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 FINANCIAL REVIEW Flnancial position Total income for the year was £1.263,271 12023 £1,359,090) and total expenditure in the year was £1,458,310 {2023 - £1.611,249). giving a net expenditure position befo￿ tax ￿lief of £195,03912023 - £252.1591. Net expendlbjre for the year after tax relief was £39.70312023 - net expendilure £73.056). At the 31 March 2024 the charity had net Current liabilities of £55.987. Total funds at 31 March 2024 were in deficit by £3,282 (2023- positive funds of £36,421), of whlch £18,218 were ￿stricted funds. The Company was successful in securing a further three years of Arts Portfolio Wales fvnding from Aprfl 2024 lo March 2027. However, our application for an uplift to support enhanced activity was denied. The funding initially secured for the first three years was further cut by 2.5Y¢, a reduction 8pplied across the whote Portlolio. Whilst core Art5 PO￿0110 Wales fvnding has been secured to 31 March 2027 the decrease from the fvnds originally applied for and previous year-on-year slandslill furKling awards Impact means the Company is operating with core lunding less than in 2017. This is further compounded by the increase in costs. notably union pay rates and utility costs. both ofwhich continue to Imp&t Ihe Compary's cashflow p05ilion. In response the company has rebuiltlts 2024-2025 budget and is confident that it is able to generate a year end surplus for the first time sin￿ the pandemic closU￿s. thereby contributing to the estsblishment of its Un￿Stricted reserves. However due to the th'ming of the receipt of grants and Iheatre lax re￿ef Ét is not able to address the deficit cash flow fore¢ast fof the same finaniial period and has consequenlty led lo the company exploring additional funding avenues to a<Jdress this issue. Vthilst the Company is optimistic that additional funds will be secured. the￿ no formal confirmation as al the date of thig report. This Circumstan￿ creates a material uncertainty which may cast doubt about the Company's ability to continue as going concem. The Company will continue to raise fijnds from trust5 and indiwduals to enable a lange of performance and participation programme$ that are planned for 2024125. In addition, the Board of TnJ5tees have agreed proposed changes to the Company's current operation to establish a new sustainable business model. which will ik fulty implemented by April 2025. The new model demonstrates a positive ¢a5hflow position through to March 2027 and a Commitment to rebuildin9 the Company5 unrestricted reserves. See page 25 for further disclosure relating to going con￿rn V￿thin notes to the accounts. Prin¢lpal fundlng sources Despite Ihe ongoing thallenges in earning Income, the Arts Council of Wales core grant fell as a percentage of turnover to around 67% in the year 2023124. It is the largest single stakeholder, and the Company is an Arts Portfolio Wales client. The Theatre Tax Relief accounted for during the yearwas £155.336 {2023.' £179.103). ReseNes pollcy It is the policy of the Company to maintain free reserves at a sufficient level to cover Ihe cost of direct aclivilies. support ¢osts and administration as they fall due. We are in the process of building free reserves with the aim of achieving £250,Cx)O ty 2026r27. Reserves are also important because they help mitigate the main risks as outlined in the Risk Management section below. Totsl fvnds held at 31 March 2024 were in deficit by £3.282 (2023 ~ positive funds of £36.4211. of which unrestricted funds were in deficit by £21,500. Of the unrestricted fvnds held at the year end, £52,705 related to fixed assets and can only be realised by disposing of these assets, as such they are not considered to be free reseNes. Consèquently. the Company had no free reserves at the year end. The reserves position is below the tsrget sel. The budget for the financial ye8r 2023124 was forecast to generate an unre51ricted surplus of £41,108 but ended the year vith a deficit of £39.703. The budget for Ihe finanaal year 2024f25 forecasts an Un￿strICted surplus of £4.886 to make a contributton to the unrestricted reserve position. Page 11

NATIONAL DANCE COMPANY WALES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 FINANCIAL REVIEW Rlsk management The Board regularly revlews the Companls operations to identify wlential risks and to impkment appropriate risk management strategies and protocols. The Board meets annually with the Company's au¢Jitors to ensure that the company continues to adfflinisler its financial affairs in ac¢ord8nce with the latest SORP and relevant legislation. The primary risks for Ihe organisation. which trustees conslder each quarter and update their plans accordingly, include.. Financial risks, Induding cashliow issues, failure lo achieve fundraising income targets and asset replacement needs.. plans to mitigate these risks have required greater scrutiny of more detailed cashflow fore¢asts-, contingency planning In the event of underachievement of income. and a strategic approach to asset replacement Programme creation and delivery rtsks. including failure to create high qualty work. tower than forecast atiendances and engagement, and venue network reducing Its dance programme: plans to mitigate these risks have led to a new monitoring system for works in progress and more intense preparation of wsiting choreographers. investment in marketing capacity. and new ￿lationShipS with touring venu8s and others. GovemarKe and Management risks. induding changes in senior staff team. legal risks and board recruitmenl tssues.. plans to mitsgate these risks have led to ￿vIewS of HR practice and contract terns. considering legal issues in a number of a￿?$ by the board and its sub-committee and undertaking board skills audit and broader review in advar of a re￿nt surLessful recruitment drive. With the aid of a specialist external facilstator, the trustees and executive team disulssed and agreed levels of risk appetite in relation to each of the key strategic priorities. These are now infomiing a new approach to risk, which mitigates and manages nsk where it represents a th￿at to the Companls resilience and success. but supports risk where opportunities lie. For instance, in the areas of dance innovatson and advo(2cy for dance as an artfoFm, the Company has agreed to tolerate a high level of rtsk meaning the Company can experiment and pursue new activities and partnerships. whereas in the area of financial governance and resilien￿. ils risk toleran￿ is low. These measures are changing deosions and Culture to enable agile working Governance There has been increa$ed scruliny on the planning of committees and board meetings to enable robust agenda content setting. Board meetings have also a¢Jopted the prinaple of trustees being able to reflect on matters that have arisen prior to Ihe start and at the end of meetings to ensure there is continuous improvement and that sound decAsion making is being made. Employee Involvement The Company Commissioned an independently led whole staff sutvey In SprFng 2023. asking people to respond on a wide range OF areas induding leadership, communication, team working. sense of puipose. equity, diversity and inclusion and opportunities for developmenL The results were positive, demonstrating a highly motivated and well-connected organisation, proud to work at NDCWales and deeply invested in improvement and learning. The learning points which emerged from Ihe survey have been identified and ¢hange is being implemented where highlighted. The exercise wll be repealed annually lo measure Change over lime. Equallty and Dlversity The company signtficanuy revised and updated Ils Stralegl¢ Equality plan in 2022, to reflect our ambition to ftjrther diversify our staff and board, to engage a greater diversity of audiences and participants, and work with artists who reflect Wales and the world now. This new plan focused especially on achieving greater representation across oui work wth people from the global majority, Deaf and disabled people. LGBTai+ communitie5. and people from lower socio*conomic groups. In order lo help implement and monitor the plan, we created an intemal worklng group m8de up of stsff ffom across the organisation. whith ha5 led to change in the tsrgets sel. the melhodolo9y adopted and useful challenge to the assumptions made. Page 12

NATIONAL DANCE COMPANY WALES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The year saw a significant diversification of the dance team in terms of ethnic background and disability, building on the considerable LG8TQl+ diversity already in the company. Recruilmenl processes have evolved to include a greater number of 8cGessible formals. induding BSL. Our Young Associates pack was created in new accessible formals, and a high proportion ofstaff have undertaken Deaf awareness tralning. The company has been Instrumental In the creation of the national companles, leadershlp diversrty programme Culture Change. which. wth the support of the Welsh Government Anli-Raci5m fund, is er¢gaging critical friends to challenge us to improve HR and olher processes to break down barriers for people from the global majority to take up leadership positions in the inslitulions. Envlronmental sustslnabllity The Company is registered wlh the environmental charity Julie's Bicycle to ensure that c(¥nprehensive and re￿able measures of carbon footprint and other environmental measures inform our drive to be￿me a net zero company by 2030. The process will be repealed annually to monitor progress and challenge further change. The majority of tour travel is undertaken by train, including trips lo northern Europe. The Company briefs all incoming designers to ensure thal as much existsng materials are re4Jsed as possible, and we actwety lend and share ca)stumes and equipment to maximise their lifetime usage. Health & Safety The Company's Health and Safety policy and implementation are led by the Operattons Director and Head of Production. There were no significant health and safety incidents during the year, and no inspections vthich found fault or omission. All staff were offered fiist aid training meaning that the vast majority of stsff are now suitable trained. Having a tull-time and pemianent technical team has increased capacity to continually monitor arKI strengthen health and safety measures. Future Programme Production and Perfomance In 2024 we will be shifting our main tOUTing pellod from the spring and summer through to the autumn. For many of the venues we visit Ihis is a better time of year to P￿sent dance, and a better time for reaching audiences and the education sector. In the long-wn it will also mean we can use the shift in schedule to worf( on some different types of projects that wouldn't have been possible if the shape of our year had stayed the same. Our autumn 2024 t¢Jur wll feature a double-bill tilled FrontierslGorwelion and ZoetK)pe for famity and school audiences. Frontiers/Gornelion comprises AUGUST, a new creation by our artistic director, Matthew William Robinson, and a new pre by the Australian choreographer Melanie Lane called Skinners. Plans for later in the year are being finalised but will indude the creation of a new duet for touring in 2025 by company dancer Faye Tan and the sculptor Cecile Johnson Sc4iz. Dan¢¢ Particlpation and Learning We look forward to another year runiing our Young Assouates programme. This year we wlll engage wilh dan￿r$ aged 1&18 years old and witl offer kn full terms of regular Sunday activity in the Autumn 2024 and Spring 2025, with an exciting new creation being made in October to be per*omied in Launch. Thanks lo lunding from Garfield Weston. we wll deliver a one4ay Intensive Workshop in Bangor. and a three-day intensive workshop in Llanelli for young dan￿[s. These intensive workshops are opportunities for us to meet dancers from all over Wales closer lo their homes. for them lo experience a tsster session ofthe Young Associates programme and hopefvlly meet and inspire new dancers to en9age wth us. We wll also deliver one off half day workshops for young people in Swansea, Penrhy5 and Rhondda Cynon Taf lin as50ciatson with SparcNalleys lfjds). Our Launch weekend attracting youth dance groups from all over Wales and offering a perfo￿anCe opportunity at The Dance House will take place over Ihe weekend of 9 & 10 November 2024. Page 13

NATIONAL DANCE COMPANY WALES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Our communlty led engagement work in Penrhys wth Ab)ve & Beyond continues. This year the young people will perform at 4FT (28 June) and at the Eisteddfod (4 August} and we will have the opportunity to ￿crUIt hvo new team Members to work with us on the project and ensure our partner shared outcomes and strategic aims for the project are reached. We are working with partners Sparclvalleys Kids, RCT Arts and Trevallis to deliver Ihese aims. The young people are able to focus and concenlrale for longer now and are keen to perfofm and share their development They have grown in confidence significantty and community leaders note there is a marked increase in respect and tolerance among the tommunity. Thanks lo the funding from the Hodge Foundation, we will deliver a schools run of six performances of Zoetrope in April in Cardiff and deliver 12 workshops to classeslschools from the local area who come to watch the perfomiance. We ￿11 also present a relaxed performan￿ of Zoetrope for family audiences and running alongside this offer free prop making and a free family dance Wofkshop to the public. This autumn will see us partner with Theatr Genedlaelhol Cymru on Dawns y cel￿ arKI WTII ofter 2 weeks of free school workshops for key stage 1 learners to Welsh language schools in October. The Ple￿ will then lour around Wales in the aulumn for school's audience5 and we will work together to attract Welsh language schools to these. We wll also lour Fmnliers and Zoetmpe this a￿Uffln and offer workshops themed around Zo8trope to pftmary schools and around Fronliers to secondary schools. performing arts colleges and ￿MMunity dan￿ schools. We are continuing our regular offer of 10-week te￿S ofDance for Parkinson s in Cardiff. Bangor and Wrexham thls year. Welsh Dance sector support Our support for the dan￿ sector In Wale5 in 2024125 wll include the launch of PLA Y. PLA Y draws together and repositions the diffe￿Al strands of our sUPPOrt for artists and wmpanies into a more coherent and ambitious programme. 11 will include opportunities that a￿ focussed on artist development, the appointment of new artistic assoaates. a commitment to hold events both at the Dance House and in other parts ofwales and the practical use ofspace and iesources. th the support of Wales Arts Intemational we wll also lead another Dan￿ from Wales delegalK)n to inlemational tanzmesse nN in txlsseldort. Gemiany. Tanzmesse remains an influentral plaffomi for dance, bringing togelher artists. companies. programmers and 2gents from across Europe and further ar￿Id. It provides a unique fonjm for dialogue and netsvorking and has helped open up many opportunities the sector here in Wales. Access Our access prioritie5 for 2024125 will predominantly focus on consoiidating the reach of the new initiatives we have started over the past iwo yea￿. This y￿11 include our approach to recorded audio description and BSL supported performance& With the aim of ensuring our own priorities complement atyl enhance the Yth other organisations are involved in. our venue netsvork included. we wll also be seeking to enhance the range of partners we work with across different aspects of our programme. Sustalnablllty and Support The compary was successful in securing Arts Council of Wales core portfolio fr￿T￿ing for Ihree years to Maich 2027. However. the award was set at the same level the company has received for a number of years and was further reduced acros5 the portfolio by 2.5%, resulting in a core funding level less than the company received over 10 years ago. With year on year increased costs in wages and salaries and utility servtces, this has presented the company with the challenge of establishing 8 new financially sustainable business model. This work is being add￿ssed during thè first Iwo quarters of 2024-25 and will be implemented from the third quarter onwards. We continue to attract support from grant makers to only support delivery of activity but with a view to enabling positsve change for NDCWales and those we benefit aligned to the Company'5 business plan and ijture ambition. We will continue to seek connections ￿th business partners who share our values and can play a part in our fijlure. We seek to mainlain the support of existing individual supportefs and develop our approach in this area in line with the audience strategy and develop philanthropic givlng through the Llfft scheme to fvrther support the Company's charitsble objectNes. Page 14

NATIONAL DANCE COMPANY WALES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 FINANCIAL REVIEW Governance A robust recruitment prO￿sS was inttialed for Board members resulting In a number of applications received. demonstrating the interest in Dance and in Wales. This resulted in four new trustees being recrijited lo the Boafd and fomially appointed June 2024. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document National Dar￿ Company Wales is a company limited by gtjarantee No. 16n419, govemed by its Memorandum and Artides otAssocialion. The company is registered Mlh the Charity Commission as a Charity in England and Wales No. 326227. Organlsational structure National Dance Company Wales is managed by a Board ofTrustees who also act as directors ot the Company. Trustees are recruited from a variety of sectors and demonstrate a range of skills induding daft￿. digital arts, educalion. human resources. finance, corporate g0veman￿, law, fvndrai5ing and business development. The Board delegates day-t¢xlay operational responsibility to the Executive team. led by Chief EXe￿jbve. Paul Kaynes. and Artistic D1￿Ctor. Matthew William Robinson. Remuneration of the senior executives is based on the latest intelligence on comparable posts, rate5 of pay in the arts sector. Pay is reviewed for all staff annualty. and annual fises. when affordable, ale based on the rate a9reed be￿en the IrKlependent Theat￿ Council and Eouity in ils annual negotiations. Chofeographic fees may be paid for works made by the Artistic Director. Recrultment and appolntment of trustees Directors can seThe a maximum of Iwo terms. each ofthree years, durats'on. The Chair can serve an additional three years as Chair if appointed after a three-year term as a regular board member. The Boaid is appraised and audited every Iwo to three years in line with the recruitment and Board term cycle. A regular skills audit as part of a Governance Review helps to identify areas of need, infonning the Board recruitment strategy. Induction and tralnlng of trustees Nevly appointed ttuslees re￿1ve a comprehensive induction into the company. including a meeting with the Chair to discuss the role of the Board and responsibility of the tmstees. and a meeling wth the Executive Team to di$￿$S artisli¢ and management objectives. An indudion pack contains the compan￿$ business plan and contdbulory documents: a copy of the goveming documents: all current policies.. Anti-bfibery, Health & Safety. Equal Opportunities and Safeguarding.. the most fecent audito¢s report.. the cuffent annual budget and most recent management accounts: a copy of the Arts Council of Wales annual agreement. the Strategic Equality Plan and an outline of the responsibilities of the rote of a tnjstee. Trustees aTr encouraged to attend perfomianos of the companys wort( ￿ereVer possible. The company's Strategic Equality Plan sets OLrt its determination to reduce inequality in both our organisation and in society. It demonstrates ongoing ¢ommilmenl to break down barriers and set about creating equal life chances. This applies to the board of trustees es to all the company's work an¢J is used lo inform choices as lo how trustees are recruited. inducted and supported during their times on the board. Related parties Twstees declare any actual or potential conflicts of Interest No trustee was materialty Interested in any contract or matter of Significance to the company's business during the year. The trustees received no remuneration or benefits for their contribution to the o)mpany. Page 15

NA TIONAL DANGE COfvIPANY WALES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 REFERENCE AND ADMINISTRATIVE DETAILS Reglstered Company number 01672419 {En9land and Wales) Registered Charlty number 326227 Reglstered offico The Dance House Wales Millennium Centre Piethead Street CARDIFF County of Cardiff CF10 4PH Twstees A Thome GH Davies EL Chapman Gl Basiletti WE James TAM Martinez CJ Atlen KSB Lowe JM Davies E Flatley S Oliver EC Wilson Resigned 26 September 2023 Appointed 5 June 2024 Appointed S June 2024 Appointed 5 Jur￿ 2024 Appointed 5 June 2024 Senlorstaff Chief Executive Interim Chief Executive Arttstic 01￿ctor Communications Director Operations Oire(*Jr ExecutNe Pioducer Head of Development Paul Kaynes Michelle CaMardine-Palmer Matthew Robinson Ceri Puckett Kelly Twydale Chris Ricketts Becky Wright Resigned 15 March 2024 Appointed 19 Marth 2024 Resigned 21 April 2023 Senior Statutory Auditor Julia Mort¢mer Auditor MHA Statutory Auditor CARDIFF CF23 8RS Bankers Unity TFU5t Bank PLC Nine Brindleyplace BIRMINGHAM B12HB Solicitors Capital Law Commeroal LLP One Ca5pian Point CARDIFF CF10 4DQ Page 16

NATIONAL DANCE COMPANY WALES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 STATEMENT OF TRUSTEES. RESPONSIBILITIES The twstees (who are also the directors of National Dance Company Wales for the putposes of company law) aTe responsible ft)r preparing the Annual Report and the financial slalements in accordan￿ wlh applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustee$ to prepare financial statements for each financial year which 9ive a true and fair vrew of the state of affalrs of Ihe charitable company and of the incoming resources and application of resources, Induding the income and expenditure. of the charitable company for that period. In preparing those financial statements, the trustees are required to select suitable accounting policies and then apply them consistently., observe the methods and principles in the Charity SORP" make judgements and estimates that are reasonable and prudent.. prepare the financial statements on the going cOn￿M basis unless rt is inappropriate to presume that the charitable company viill continue in business. The trustees are responsible for keeping proper a¢rA)unting records which disclose ¥￿th reasonable accuracy at any time the financial position of the charitable company and to enable them to ensu￿ Ihat Ihe financial statements comply the Companies Act 2CSJ6. They are also responsible for safeguarding the assets of the charitable compary and hence for taking reasonable steps for the prevention and detectton of fraud and other irregularities. In so far as Ihe trustees ale aware= there is no relevant audit infom81ion of whi¢h the charitable companls auditors are unaware.. and the bustees have tsken all steps that they ought to have taken lo make themselves aware of any relevant audit intomiation and to establish th* the audrtois are aware of that informalion. Approved by order of Ihe Board of Trustees on 30 August 2024 and signed on ils behalf by: G H Davies- Chair of Trustee5 Page 17

REPORT OF THE INDEPENDENT AUDITOR TO THE MEMBERS OF NATIONAL DANCE COMPANY WALES Oplnion We have audited the financial statements of National Dan￿ Company Wales Ilhe 'charitsble company'l for the year ended 31 March 2024 which comprise the Ststement of Financial Activities (incorporating an income and expenditufe account), the Balance Sheet, the Cash Flow Statement and Notes lo the financial statements, including significant accounting policies. The financial reporting framewort< that has been applled In thelr preparation is applicable law and United ￿ngdorn Accounting Standards. indu¢Jing Finan¢ial ReForting Standard 102. The Financial Reportin9 Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements.. give a true and fair )Mew of the state of the charitable company's affairs as at 31 March 2024 and of its inct)mlng resources and application of resources, induding its income and expenditure. for the year then ended- have been properfy prepared in accordance wth United Kingdom Generally Accepted Accounting Practice.. and have been prepared in ac£ordan¢e with the requirements ofthe Companies Act 2008. Basis for opinion We Conducted our audit in accotdance wth Intemal￿Tral Standard5 on Auditing (UK) IISAS (UK)) and applicable law. Our responsibilities under those standards are fvrther described in the Aud¢tor responsibilities for the audit of the financial statements section of our report. We are independent of the charÈlable company in accordance wth the ethical requirements that are relevanl lo our audit of Ihe financial statements in the UK, including the FRC'S Ethical Standard. and we have fiJlffilled our other ethical responsibilllies In accordance with Ihese requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Materlal uncertalnty relatlng to golng concern We draw attents'on to Note 2 in the financial ststsments. which indicates uncertainty over krture funding. As stated in Note 2, this. along with other matters as set forth, indicate Ihat a materFal Un￿rtaInty exists that may cast signifi¢ant doubl an the charitable company's ability to continue as a going concem. Our opinion is not modified in respect of this matter. In audibng the financial statements. we ha¥e concluded that the twstees, use of the going CA)ncern basis of a¢¢ounting in the preparation of the finanaal statements is appropriate. Our responsibilities and the responsibilities of the trustees with ￿SpeCt to going concem are descrribed in the relevant sections of this reporL Other Information The other infomiation ¢omprises the information included in the Report of the Trustees, and Financial Stsi8menls and our Report of the Independenl Auditor Ihereon. The INstees are responsible lor the other infomati¢M. Our opinion on Ihe financial statements d￿S not cover the other information and. except lo the extent otherwise explicit stated In our report, we do not express any fom of assurance ci)ndusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other infomation and, in doing so, consider whether the other information is malerialty inconsistent with the fjnanual statements or our knowledge obtained in the audit or othepwise appears to be materially misstated. If we identify such matellal inconsistencies or apparent material misstslements, we are required to detefmine whether this gives rise to a material misstatement in the finanoal slatements themselves. If. based on the work we have perfomied, we conclude that there is 8 material misstatement of this olher inforynation. we are required to report that fact We have nothing to repjrt in Ihis regard. Oplnions on other matters prescribed by the Companles Act 2006 In our tjpinion, based on the ￿lIk undertaken In the course of Ihe audit: the informatson given in the Report of the Trustees, which includes the Directors. Report prepared for the purposes of ¢ompany law, for the finan¢ial year for which the financial statements a￿ prepared is consistent wth the financial ststemenls., and the Directors, Report included wllhin the Report of the Twstees has been p￿pared in accordance with applicable legal requirements. Page 18

REPORT OF THE INDEPENDENT AUDITOR TO THE MEMBERS OF NATIONAL DANCE COMPANY WALES Matters on whl¢h we are required to Teport by exceptlon In the light of the knowfedge and understanding of the charitable company and ils environment obtained in the course of the audit. we have not identified material misstatements in the Directors, Report included within the Report of the Trustees. We have nothing lo report in respect of the followlng matters where the Companies Aci 2008 requires us to report to you if. in our opinion.. adequate and proper accounting records have not been kept or retums adequate for our audit have not been received from branches not visited by us., or the financial statements are nol in agreement wth the accounlng records and retum$: or certain disclosures of trustees. ￿muneratIon specified by law are not made-, or we have not received all the informats'on and explanations we require for our audiL or the trustees were not entitled to prepare the financial stslemenls in accordan￿ wth the small companies regime and lake advantage of the small o)mpanies' exemption in preparing the report of the tru51ees and from the requirement to prepare a Strategic Report Respon$lbllities of trustees A5 explained more fully in the Statement of TTU5tees' Responsibilities, the trustees (who are asso the directors of the charitsble company for the purposes of company law) are responsible for the preparation of Ihe finanaal ststements and for being satisfied that they give a true and fair view, and for such intemal control as the truslees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due lo fraud or error. In preparing the financial statements. the trustees are reS￿nSIble lor assessing the charitable company's ability to continue as a going concern, disdosing. as applicable. matters related lo going con￿rn and using the going con￿r￿ basis of accounting unless the trustees either intend lo liquidate the chatitable cLJmpany or to cease operations. or have no realistic altemalive but to do so. Auditor responslbllitles forthe audit of the financlal statements Our objectives are to obtain reasonable assuran￿ about whether the financial statements as a whole are free from material misstatement. whether due to fraud or error, and to issue an Auditors Report that indudes our.opinion. Reasonable assuranGe is a high level of assurance blrt is not a guarantee that an audit conducted in accordance with ISAS (UIQ wll always detect a material mtsstatement when it exists. Misstatements can arise from fraud or error and are considered material if. iThJividually or in the aggregate, they ttjuld reasonably be expected to inlluen¢e the economic decisions of users taken on the basis of these financial statements. Irregularities, induding f￿U￿, are instan￿$ of nonoomplian¢e with law5 and regulations. We design prO￿dureS in line wth our responsibilities. outlined above. to detect material misstatements in respect of irregularities, including fraud. The speofic procedures for this engagement and the extent to which these are capable of detecting irregularitses. including fraud is detailed below. We evaluated management's In￿ntiVeS and opportunities for fraudulent manipulation of Ihe finanrial statemenis (Inctuding the risk of override of controls) and determined that the principal risks We￿ related to posting ina¢¢urale ioumals. We addressed these risks by carrylng out specifically targeted pr0￿dUreS. which induded.. Enquiries of management those charged wth g0Veman￿ around 8clual and potential litigation and claims.. Perfomiing audit work over the risk of management override of controls. including tes*ing ofjournal entries and other adjvstrnents for appropriateness and evaluating the business rationale of significant transactions outside the normal course of business- Reviewing minutes of meetings of those charged with govemanGe', Evaluating the reasons for any18rge or unusual transactions. Reviewing financial statement disclosures and testing to Supporttng documentallon to assess Complian￿ with applicable laws and regutations.to underfying supporting documentation. Because of Ihe inherent limFtalions of an audit the￿ is a risk that we will not detect all irregularities. including those leading to a material misstslemenl in the finandal statements or non<ompliance with regulalion. The risk increases the more that compliantt with a law or regulation is removed from the events and transactions reflected in the finanaal statements as we will be less likely lo become aware of instan￿$ of non-compliance. The risk is also greater regarding irregularibes occurring due to fraud rather than error. as fraud wivolves intentional concealment, forgery, collusion. omission or misrepresentations. A fijrther description of our responsibilities for the audit of the financial statements is tocated on the Finanaal Reporbng Council's website at sw.frc.or9.uklaudttorsresponsibilitles. This description forms part of our Report of the IndeperKlent Auditor. Page 19

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF NATIONAL DANCE COMPANY WALES Use of our report This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2CQ6. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to stale to Ihem in an auditors. report and for no other purpose. To the fullest extent pem7itted by law. we do not acoept or assume responsibility lo anyone other IFBn the charitable company and the charitable company's members as a body, for our audit work, for this repo¢ or for the opinions we hav8 forrned. Juli Mortimer FCCA (Senior Statutory Auditor) for and on behalf of MHA Stalulory Auditor CARDIFF CF23 8RS Date.. .￿￿.. .... ... MHA is the trading name of Maclntyre Hudson LLP, a limited Eiability partnership in EnglarKI and Wales {registered number OC312313). Page 20

NATIONAL DANCE COMPANY WALES STA TEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024 2024 Totsl bJnds 2023 Total fvnds Unrestricted funds Restricted funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 860.631 860,631 871.427 Charitable activltles Advancing arts and education through dance 224,475 157,471 381,946 434,169 Other trading actiwties Investment income Other income 100 11 515 34 52,945 11 Total 1 105.800 157.471 1263.271 1.359,090 EXPENDITURE ON Raising funds 435 Charltable actlvltles Advancing arts and education through dance 1,301868 156.442 1.458.310 1610,814 Total 1301868 156,442 1.458.310 1.611.249 Theatre Tax Relief 179,103 NET INCOMEI{EXPENDITURE) {40.732) 1.029 (39.7031 173,056) RECONCILIATION OF FUNDS Total fijnds broughl foNard 19,232 17,189 36.421 109,477 TOTAL FUNDS CARRIED FORWARD 21,5001 18.218 36.421 The notes fom part of these financial statements Page 21

NATIONAL DANCE COMPANY WALES BALANCE SHEET 31 MARCH 2024 2024 Total funds 2023 Total fvnds Unreslricled funds Reslricled funds Notes FIXED ASSETS Intangible assets Tangible assets 15 16 52.705 52.705 55.005 52,705 52,705 55.606 CURRENT ASSETS Debtors Cash at bank and in hand 17 305,803 305,803 316,921 7.498 34.112 273.084 34,112 307,196 324,419 CREDITORS Amounts falling due within one year 18 (347.289) 115,894) {363.183) (343,604) NET CURRENT ASSETSI(LIABIUTIES) 74.2051 18.218 55 9871 TOTAL ASSETS LESS CURRENT LIABIUTIES (21,500} 18,218 {3.282) 36.421 NET ASSETSI(LIABILITIES) 18.218 3,282} 36.421 FUNDS Unrestricted funds Restricted funds 21 {21,5()J) 18.218 19,232 17.189 TOTAL FUNDS 3,2821 36,421 These financial statements have been prepared in accordan￿ wth the provisions applicable to charitable companies subject to the small c¢Jnpanies regime. The ffnancial statements were approved by the Board of Tru$tses and aulhorised for issue on 30 August 2024 and were signed ¢)n its behalf by.. G H Davies- Chair ofTrustees The notes lo￿ part of these finanaal stalemenls Page 22

NATIONAL DANCE COMPANY WALES CASH FLOW STA TEMENT FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes Cash Ilows from opèrating activlties Cash generated from operations 148.816 Net cash prowded byl(used inl operating actlviiles 148 8161 Cash flows from Investing a¢tlvities Purchase of tangible fixed assets Sale of tangible fixed assets Interest re*ived {11,607) (16.532) 20.001 11 Nel cash (used inyprovided by investing activities Change In cash and cash equlvalents In the reporting period Cash and cash equlvalents at the beglnning of the Trporting perlod 57,434 (145,313) 88.495 76,818 Cash and Cash equlvalents at the end of the reportlng period 68.495) The notes form part of these finanaal ststements Page 23

NATIONAL DANCE COMPANY WALES NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 RECONCILIATION OF NEf EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 Net expendlture for the reporting perlod (as per the Statement of Flnancial Activltles) Adjustments for: DepreciatKin charges Profit on disposal of fixed assets Interest received Decreasel<increase) in debtors Inc￿9$e1{decrease) in ¢redTtors {39,703} 173,056} 14.508 18,553 (20.000) {34) {17,596} 54.683 (11) 11.118 83.118 Net cash provided byl(used In) operatlons 69,030 148.8161 ANALYSIS OF CASH AND CASH EQuIvALE￿s 2024 2023 Cash in hand Nolice deposits Oess than 3 months) Overdrafts induded in bank loans and overdrafts falling due wthin one year 1.233 160 12,454} 652 6,846 75.9931 Total cash and (ash equivalents 68.495 ANALYSIS OF CHANGES IN NET DEBT At 114123 Cash flow At 3113124 Net cash Cash at bank and in hand Bank overdraft 7.498 175.993 (6,105) 63,539 1.393 (12 4541 (68,495 57.434 Total 57.434 111.061) The notes fomi part of these financial statements Page 24

NATIONAL DANCE COMPANY WALES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 STATUTORY INFORMA TION National Dance Company Wales is a o)mpany limited by guarantee incorporated in Wales within the un￿ed lfjngdom. The registered Offi￿ is The Dance House, Wales Millennium Centre, Piethead Street Cardiff CF70 4PH. The nature of the chaistable company's operalions and principal actiwties is disclosed wilhin the Report of the Trustees. The financial statements are presented in SAerf¢ng (£). the company's fundional currency. and rounded to the nearest pound. The significant accounting poficie5 applied in the preparation of these financral statements are set out below. These policies have been consistenuy applied to all years p￿sented unless otherwtse stated. ACCOUNTING POLICIES Basls of preparlng the financial statements The financial statements of the Charital￿e company. which is a public benefit entity under FRS 102. have been prepared ir¢ acrordance wth the Charities SORP IFRS 102) 'Accounting and Reporting by Charities.. Statement of Recommended Piactice apF4icable to charities pieparing their accounts in accordance with the Finanaal Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) (effective 1 January 2019}'. Financial Reporting Standard 102 'The Financial Reporting Stsndard applicable in the UK and Republic of Ireland. and the Companies Act 2(XJ6. The financial slalements have been p￿pared under the historical cost convention. There have been na material departures from Firkinaal Reporting Starklard 102. PreparatSon of the a¢¢ounts on a going concern basls As al 31 March 2024, the Company has net cu￿ent liabilities of £55,987 and net liabilities of £3,282. As an existing Arts Portfdio Waies organisation. the Chaiitable company applied for funds from the Arts Counal ofWale5 (ACWJ as part of its Investment Review for the period 2024-27 and was su(Y£ssfvl In its application. However. that funding award which was initially at the same level as for the preceding three years was then ￿dUCed by 2.5% following a redudion in the tun(fing made available to ACW. The Charitable company is aware of the fvnding pressures across the sector and has reviewed its plans for the next three years and will have to reduce aclivtty levels to operate wlhin the fijnding available to it. Financial and cash fIow projections for a number of scenario's have been prepared and dis¢u$sions a￿ oftgoing ￿th fvnders to se¢ure the additional funding needed to ensure that the Company can meet its liabilities for a period of elve months from date ol signing. However, the impact of not being able secure the required fvnding is rewgnised as a significant risk and Ihe Board are working on a range of options to mits'gate the consequences of that risk. The Charitsble company has been In positive dialogue with ACW about additional support but at this stage there is no formal indicatson about ￿ether or ￿t financial support will be available or at what level. These cirujmstances C￿te a material uncertalnty which casts significant doubt on the Charitable company's ability to continue as a going concem. The trustees have carefully considered all these factors and have concluded il is appropriate for the fitlancial statements to be prepared on a going concem basis as the Company continues to f￿uS on rais￿ng funds and reduung costs to enable the ongoin9 delivery of a range of perforrnan￿ and participation activities. Income All income is recognised in the Statement of Financial Activiltes orKe the charity has entitlement to the funds, it is Pfobalje that the income will be received. and the amount can be measured reliably. This includes capital granls. Page 25 continued..

NATIONAL DANCE COMPANY WALES NOTES TO THE FINANCIAL STATEMENTS - ¢ontlnued FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES . continued Donations and legacies Income Donations and legaaes Income indudes donations. gifts and grants that provlde CO￿ funding or are of a general nature and recognised where there is entitlement, probability of receipt and the amount can be measU￿d with sufficient reliability. Suth income is only deferred when the donor specifies it must be used in fvture accounting periods or the donor has imposed Cor￿[￿.0nS which must be met before the charty has unconditional entittemenL Income from charltable acttvltles Incoming resources from charitable activities indudes income received under contract or where entitlement to grant funding is subject to specific performance conditions. This irL¢ome is recognised as the related services are provided and there is enlitlement. probability of receipt and the amount Can be measured with sufFicienl ￿liabIlity. Income is deferred when the amounts received are in advance of the perfomance of Ihe service Of event to which they relate. Other tfading activitie5 Income Incoming resources from other trading acttvities includes income received under contract. This income is recogiwsed as the related Servi￿S are prowded and there is enlillemen( probability of rer£ipt and the amount can be measured th suffic4ent reliability. Income is deferred when the amounts received are in advan￿ of the perfoimarte of the service or event to which they relate. Investment Income Investment inojme is Rcognised on a receivable basi5. Other Income Other income is reCogni￿d on a receivable basis. Expendlture LiabiltlÈes are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditu￿, it is probable that a transfer of economic benefits wll be required in settlement and the amount of the obligation can be measured reliably. Expenditure is a0￿Unted for on an acctuals basis and has been dassrfied under headings that aggregate all cost related to the category. Wnere costs cannot be tjifectly attributed to particular headings they have been allocaled to activities on a basis consistent WTth the use ot resources. Costs of raising fvnds include ¢osts fijndraising. advertlsing, marketing and direct matl materials as well as proportion of salaries based on an approximation of time S￿nt in this area. Expenditurè on chaiilable activities comprises Ihose costs incurred by the charfty in the delivery of its acitvibes and 5ervfces for its beneficiaries. It includes tx)Ih ¢osts that 12n be allocated directly to such activities and those ￿$ts of an indireet nature necessary to support them. Support costs are those costs that whilst ne￿SSary to deliver an activity, do nol themselves Produ￿ or Constitute the output of tt)e charitable activity. This includes govemance costs which are those costs associated wth meeting the constitution21 and statutory requirements of the charity and indude the accountancy lees and costs linked to the strategic management of the charity as well as a proportion of salaries based on an approximation of time spent in this area. Page 26 continued...

NATIONAL DANCE COMPANY WALES NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES - continued Allocation and apportionment of costs Support C051s are those functions that assist the work of the charity but do not direcuy undertake charitable acllvities. Support costs include staff costs. finance costs, general office and premises costs. depreciation and governance Costs which support the activities of the charity. These costs have been allocated between cost of raising funds and expenditure on charitable activities on a basis designed to reflect the use of the resource. CosÉ5 relating to a particular activity are allocated direthly., others are apportioned on an appropriate basis. Direct expenditure is apportioned to each proiect on an actual basis. Intangible assets Intangible assets are initially recorded at Cost Amortisation is calculated so as to wrfte off the cost of an asset. less its estimated residual value, over the usefijl economic life of that asset as follows.. Website costs - Straight line over S years Tangible lixed assets Fixed assets are initially recorded al cost. Depreciation is calculated so as lo write off Ihe cost of an asset. less its estimated residual value, over the usefvl economic life of that asset as follows.. Motor vehides - Commercial tNcks'. Straight line over 10 years - Vans.. straight line over 7 years Fixtufes, fittsngs & equipment Sound and light equipment.. straight line over 10 years - Other equipmenL straight line over 3- 5 years - offi￿ fijrnilufe: straight line over 5 years Leasehold improvements Improvemen15 to leasehold propety= _ straight line over 5 years Taxation The charity is exempt from corporation tax on its charitable activities. Funds Unrestricted funds can be used in accordance with the charitable oblectlves at the discretion of the trustees. Designated fijncls are unrestricted fvnds eaTmarked by the trustees for parlicular purposes. Reslricled funds can only be used for particular restricted purposes wthin the objects of the charity. Restrictions arise when specified by the donor or when funds are faised for particular restricted purposes. Further explanation of the nature and purpose of each fijnd is included in the notes to the financial statements. Page 27 conts'nued...

NATIONAL DANCE COMPANY WALES NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES - ¢ontlnued Flnancial Instruments The charity only has financial assets and financtal liabilities of a kind that qualify as basic financial inslrumenls. Basic finanGial instruments are initially recognised at transaction value and Subsequently measured at their setuemenl value. Trade and other debtors are recognised at the setttement amount due and prepayments are valued at the amount prepaid. Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third paty and the amount due to settte the obligation can be measured or estimated reliably. Creditor$ and provisions are nornally recognised al their settlement amount after allowing for any trade dtscounts due. Forelgn currencles Assets and liabilits'es in foreign ujrrenaes are translated into sterfing at the rates of exchange rufing at the balan sheet dale. Transactions in ft)reign currencies are translated into steding at the rale of exchange wling at the date of transactFon. Exchange differen￿3 are taken into account in arriving at the operating result. Pension costs and other post-retirement beneflts The charitsble company operates a defined contribution pension scheme. Contiibulions payable lo the chatilable company's pension scheme a￿ charged to the Statement of Financial Activities in the period to which they relate. Temiination payments The charitable company ￿COgniseS tefmination benefits as a liability and an expense only when Ihe entity 15 demonstrably committed either to teminate the employment of an employee or group of employees before the normal retirement date or to provide temiination benefits as a result of an offer made in order to encourage voluntary redundan¢y. Employee benelits When employees have rendered Servi￿ io the company, short-lerni employee benefits to ￿lch empkjyees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that seNice. Operatlng lease agreements Rentals applicable lo operating leases where substantially all of the benefits and risks of ownership remain V￿th the lessor a￿ charged against profits on a straight line basis over the period of th6 lease. DONATIONS AND LEGACIES 2024 2023 Arts Counal of Wales revenue grant other grants and donations 856.012 4.819 864.572 6,855 860.631 871427 Page 28 continued...

NATIONAL DANCE COMPANY WALES NOTES TO THE FINANCIAL STATEMENTS . continued FOR THE YEAR ENDED 31 MARCH 2024 OTHER TRADING ACTIVITIES 2024 2023 Merthandising 100 515 INvESTmE￿r INCOME 2024 2023 Deposit aCC￿nt interest 11 INCOME FROM CHARITABLE ACTIVITIES 2024 2023 ACtI￿ty Advancing arts and education through dan Advanctng arts and educatson through dance Grants Fees receivable 219.608 162.338 328,458 105,711 381,946 434.169 Grants received. included in the above, are as follows.. 2024 2023 Arts Council England - Priority Venues The Ernest Hecht Charitable Foundation Colwinslon Charitable Trust The Darkety Trust Fenton Arts Trust Gwendoline and Margaret Davies Trust John S Cohen Foundation Arts Council ofWale5 - Connect ar￿ Flourish Garfield Weston Culture Fund Hodge Foundation The London Community Foundation - Co¢kayne Grants for the Arts Wales Arts Intemational - Tanzmesse Arts Council ofWales- Intemats"onal Opportunitie5 Fund The Foyle Foundats'on Arts Council of Wales- Parti Arts Council of Wales - Mowr¥J Beyond Complian Anne Duchess of Westminslerfs Fund The W.G Edwards Charitable Foundation Parkinson's UK The Garrick Club Chartiable Trust Arts Council ofwales - In Each Others Company- Gultural Bridge Arts Counal of Wales- Korea National Contemporary Dance Arts Council ofWales- Transform The British Council The Leche Trust D'oyley Carte Charitable Trust The Ratcliff Educational Foundation The Noel Coward Foundation Abderrahim-crickmay Ch3rilable Settlement 1,5CIO 10,000 40.000 2,200 5.000 3,000 S0,OCQ 14,756 40.OtKI 15,000 130,461 37.397 5.000 10,000 15,000 10.000 30.CK)J 10.OCtI 10,000 5,000 1,5(Ki 2,41XJ 1,667 5,700 7,470 48,048 10.000 1.969 10.000 219,608 328,458 Page 29 Continued...

NATIONAL DANCE COMPANY WALES NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2024 RAISING FUNDS Other trading actlvltles 2024 2023 Merchandising costs Support costs 434 435 CHARITABLE ACTIVITIES COSTS Direct Costs (see note 91 Support costs (see note 10) Totals Advancing arts and edu￿110￿ through dan 1.075,480 382.830 1.458.310 DIRECT COSTS OF CHARffABLE ACTIVITIES 2024 2023 staff costs Rent and rates Insurance Light and heat Postage. stationery and subs Travel and training RepaiFS and maintenance Direct production and dance team fees Cleaning Staff welfare Staff recruitment fees WMC sinking fijnd Dep￿cIatIOn 658,242 50,698 12,725 34.748 1,301 83,510 337 182,985 11.026 55 365 25,582 13.906 635.565 54.877 18,740 25,323 7,890 101.856 389.711 10.055 26 1.445 22.058 15.137 1.075.480 1.282.690 10. SUPPORT COSTS Staff costs Inform8tion 18thnolcgy Governance costs Other Totals Advancing arts and education through dan 153.609 161,132 66,808 Page 30 ntinued...

NATIONAL DANCE COMPANY WALES NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 PIIARCH 2Q24 10. SUPPORT COSTS- contlnued Support costs during the Pfevtous year totalled £328.124. of which £123,659 related to staff costs. £143.822 related to other costs and £60.643 were governan￿ costs. Stsff costs are allocated based on an esb'mate ol lime spent, other costs relating to those fijnctrons which support the charty are allocated diredly or in the same proportion as stsff costs. 11. NET INCOMEIIEXPENDITURE) Nel incomel(expendilure) is Stated after chargingl{crediting)'. 2024 2023 Auditors, remuneration Auditors, remuneration for non audit work Deprecration- owned assets Surplu5 on disposal of fixed assets Website costs amortisation 4.940 1.708 13,907 3,400 1,715 14,152 (20,000} 2,401 601 12. TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits kn the year ended 31 March 2024 or for the year ended 31 March 2023. Trustees. expenses During the year ended 31 Mafeh 2024 £681 was reimbursed to ￿ trustees for travel expenses {2023.' £409 to tsvo trustees) 13. STAFF COSTS 2024 2023 Wages and salaries Social security costs Other pension costs 788.326 54.663 27,618 735.789 49,643 28.798 870.607 814.230 The average monthly number of employees during the year wa5 as follows.. 2024 20 2023 21 Charity Employees The number of employees whose ern￿Oyee benefits (excluding employer pension Costs) exceeded £60.OOOwas: 2024 2023 £60,001- £70,000 The total key management personnel remuneration benefits paid during the year was £217,154 {2023." £268,389). Page 31 ntinued...

NATIONAL DANCE COMPANY WALES NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 14. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestrtcted funds Restrtcted funds Total fvnds INCOME AND ENDOWMENTS FROPA Donation5 and legacies 871.427 871,427 Charltable activities Advancing arts and education through dancè 110,911 323.258 434.169 Other trading activities Investment inc(me other income 515 34 52.945 515 52,945 Total 1.035.832 323,258 EXPENDITURE ON Raising funds 435 435 Charltsble actlvltles Advancing arts and education through dance 1.281586 329,228 1.610.814 Total 1.282.021 329.228 1.611.249 Net gains on investments 179.103 179.103 NET INCOMEI(EXPENDITUREI Transfef5 between funds {67.088) 19 (5.9701 173,056) Net movement In funds (67.CK7) {5,9891 173,056) RECONCILIATION OF FUNDS Total funds brought forward 86,299 23,178 109.477 TOTAL FUNDS CARRIED FORWARD 19.232 17,189 36.421 15. INTANGIBLE FIXED ASSETS Website costs COST At 1 April 2023 and 31 March 2024 12,008 AMORTISATION At 1 April 2023 Charge for year 11.407 601 At 31 March 2024 12.008 NET BOOK VALUE At 31 Marth 2024 At 31 March 2023 601 Page 32 continued...

NA TIONAL DANCE COMPANY WALES NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 16. TANGIBLE FIXED ASSETS Furniture. fittings and equlpment Improvements lo propety Totals COST At 1 Aprtl 2023 Addrtions 13,077 9,907 102.383 1.71)0 115.460 11.607 At 31 March 2024 22.984 104.083 127.1x7 DEPRECIATION At 1 April 2023 Charge for year 3,454 57.001 9.971 60.455 At 31 March 2024 7.390 66.972 74.362 NET BOOK VALUE At 31 Marth 2024 15.594 37.111 At 31 March 2023 55.005 17. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade debtors Other debtors VAT Prepayments and accrued income 15.675 3,371 19.971 21.329 1,753 8,376 285.463 305.803 316.921 18. CREDrroRS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Bank loan5 and overdrafts (see note 191 Trade creditors Social security and other tsxes Other Creditors Accruals and Oeferred Incnme 12.454 150,862 31.547 16,877 75,993 119.528 16,613 18.715 112.755 363 183 343.604 Included withln accruals and deferred income above is defer￿d income of £127,576 {2023'. £2,967}. Deferred in￿rne of£2.967 was released to the SOFA in the year. Defeffed income relates to funding received in advance for projects in the next financial year. Page 33 continued...

NATIONAL DANCE COMPANY WALES NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 19. LOANS An anatysis of the maturity of loans is given belo4w. 2024 2023 Amounts falling due ￿thin one year on demand: Bank overdrafts 12.454 75.993 The charltable company's bOrr￿ng$ ar6 se¢ured by a r￿ed and floating charge over the charitable ccYnpany'$ assets. 20. LEASING AGREEmE￿s Minimum lease payments under non<ancellable operating leases fall due as follows: 2024 2023 thin one year Between one and five years 1.814 4.990 7,970 6.804 6,804 14.774 Lease payments recognised as an expense in the year amount lo £7,970 (2023.. £13,243). MOVEMENT IN FUNDS 21. Net movement in funds Transfe between fvn(ts At 3113124 At 114123 Unrestricted funds General fund Associates fvnd 19.232 (39.8881 844 (844) (21.500) 19,232 (40.732) Restrl¢ted funds Dance for Parkinsons Garfield Weston Cutture Fund Arts Coun¢il of Wales - Connect and Flourish (21,5(XJ) 248 (248) 5.210 5,210 16,941 (16,9411 10,7 534 1.768 Arts Council ofWales- Transform The British Council Zoetrope 10,706 534 1.768 17,189 1.029 18.218 TOTAL FUNDS 36,421 39.7031 Page 34 contr'nued...

NATIONAL DANCE COMPANY WALES NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2024 21. MOVEMENT IN FUNDS- ¢ontlnued Net movement in funds, included in the above are as follows- InLxmlng resource5 Resources expended Gains and losses Movement in fvnds Unrestrlcted funds General fund Associates fvnd 1,097,265 (1,292,489) 155,336 (39.8881 1,105.800 (1,301,868} 155,336 (40,732) Restrfcted funds Dance for Parkinson's Garfield Weston Culture Fund Arts Council ofWales- COnr￿ct and FIoufi5h 14.000 40,0()J {14.248) {34.790) {248) 5.210 14.756 5.000 (31.697) {5,OW) {16.941} John S Cohen Foundali¢)n Art$ Counal of Wales- In Each Olherfs Compary Arts Council ofWales- Transfomi The Brits"5h Council 4x10 Project Young A5$0ciates Zoetrope 5,700 48,046 1.000 2.000 1,969 25.OCQ (5,700) {37.340) 1466) {2,OOOy {1.9S9) 23.232 10,706 534 1.768 157 471 1,029 TOTAL FUNDS 1263271 1.458.310) 155,336 39.703 Comparatlves for movement In funds Net movement in funds Transfers between funds At 3113123 At 114122 Unrestricted funds General fijnd Associates fund 86,299 {63,851) (3.216) 3.235 19.232 86.299 167.086) 19 19.232 Restrlctgd funds Dance for Parkinson's Arts Council ofWales- Conne¢t and Flourish 23,178 {22,930) 16.941 19 16.941 Wales Arts International- Tanzmesse 19 23,178 5.970 19 17,189 TOTAL FUNDS 109 477 36,421 Page 35 continued...

NATIONAL OANCE COMPANY WALES NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2024 21. MOVEMENT IN FUNDS - Continued Comparative nel movement in funds. included in the above are as follows.. Incomlng resouices Resources expended Gains and losses Movement in fvnds Unrestricted funds General fund Associates fund 1.025.502 {1,268,4561 13,565 179.103 {63,851) 3,235} 1,035,832 11.282,021) 179.103 (67,086) Restrlcted funds Arts Council England - Priority Venues Dan￿ for Parkinson's Garfield Weston Culture Fund Arts Council ofwales - Connect and Flourish 1.500 18,9cIJ 37.397 {1,5W) (41.8301 137.397) (22.9301 130,461 1113,520} 16,941 Fenton Arts Trust- Choreographer Development Program Colwnston Charitable Trust- 40th Anniversary Activites Julian Hodge Foundation- Discover Dance The London Community Foundation - Cockayne Grants for the Arts- NDC Now Wales Arts Intemational - Tanzmesse s Council of Wales- International Opportunities Fund Parti Arts Council ofWales- Moving Beyond Compliance 5,000 (S.0￿) 40.000 5.(KJO (40,000) 15.000) 10.000 15.000 {10,OW} (14.9811 19 10,000 40,(MJO (10,000} {40.000) 323.258 329.228 5.970 TOTAL FUNDS 1.359.090 1611,249 179.103 Restricted funds Dan￿ for Parkinson's - Funding has been received from a number of different sources in support of the Dance for PaTkinson's programme, which gives people with Parkinson's the opportunity lo engage wtlh high quality dan dasses. Connect and Flourish - Arts Counctl of Wales Conned & Flourish grant supports the development phase of Tu Hwnt i'r Gofyn l Above & Beyond. This is an ambitious long-terni project whith brings arts and non-arts partners together with the community of Penrhys and the surroLtnding Rhondda Cynon Taf (RCTI Communities to develop a model of Co-creation. Garfield Weston Culture Fund- £40,000 funding towards the Young Associates programme John S Cohen Foundation - Pulse - £5,000 support the creation of Pulse ar￿ subsequenl performan￿5 during its spring 2023 tour. In Each Olhets Company - Support from the Arts Couneil of Wales for a research project with Of Curious Nature in Bremen. Germany as part of the trans-national Cultural Bridge programme. Transfomi - AJts Council of Wales grant to 6UPPOrt business development. This enabled the company lo appoint consultants to review new ways to develop various strands of how NDCWales fijnctions, Ihis induded looking at NDCWales' brand, income generation and potential CRM systems. Page 36 contsnued...

NATIONAL DANCE COMPANY WALES NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2024 21. MOVEMENT IN FUNDS . continued The British Council - Support towards research visits lo Fran￿ to explore potential OPFQrtunities 8$ part of the UK in France season and to research future relationships. 4x10 Project- Grants We￿ received from both The Darkley Trust. for the Young A5s0riates creation. and The Leche Trust. 4x10 commissioned four len-minute dance works. by four Welsh or Wales-based choreographers, to be seen by audience5 on four sides. Zoetrope Grants were re￿IVed from both the Hodge Foundation and the Abderrahim Crickmay Charitsble Settlement to support Ihe creation and premie￿ ofzoetrope and Aprs12024 perfomiances at the Dance House. Prior year restrlcted funds Arts Council England - Priority Venues - Funding received lo support perfomiances in England. Weston Culture Fund {Garfield Weston Foundation) This vital investment supports the Company's ￿tUrn to live perfO￿anCe in 2021 and 2022, creation of varied digilal ¢ontent and Teconnecting wth communities and audiences in t¢Juring locations wlh a specific focus on activtty in Wales Fenton Arts Trust - Laboralori Grant to support Laboralori 2021, which provides an essential R&D opportunity for independent choreographers to expand on their independent pradices and work vAth dancers, visual artists and mentors Hodge Foundation- £5.OCX) funding towards the Discover Dance spring tour in Wales. Cockayne Granls for the Arts & London Community Foundation - £10,000 toward5 London performan￿S ol Say Something & Waltz. Wales Arts Intemational - Tanzmesse - £15.OQJ towards ￿StS of staging a dance from Wales at the live edition of Tanzmesse. Arts Council of Wales Intemational Opportunities Fund - £10,000 towards investsnent in development of inlemational touring strategy. Parti a Govcreated project that presented an evening of dano perfomied. devised and Created with and for communitles - Arnmanford and Ystradgynlais. Arts Council of Wales (Arts Health & Wellbeing Lottery Funding) - Moving Beyond Compliance - £10.000 towards partnership project with Cartrefi Cymru Cooperative to explore how movement can benefit staff working In care settings. De51gnated fund5 Associates fijnd - Atl income received for dance classes for young dancers 89ed 14 to 19 years old is desiynated to be spent on the training of young dan￿rs. Transfers between funds A transfer of £844 was made from the general fttnd to the designated associated fjJnd. representing the overspend on the assoctates fvnd during the year. The balance on the associates fund was brought to £NII al yearend. Page 37 continued...

NATIONAL DANCE COMPANY WALES NOTES TO THE FINANCIAL STATEMENTS - conunued FOR THE YEAR ENDED 31 MARCH 2024 22. EMPLOYEE BENEFIT OBLIGATIONS The charity operates 8 defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in independently administered funds. The pension cost charge represents Gontribulions paid by the charity lo the fund and amounted to £27,617 {2023= £28.798)l. Contributions outstanding at the year end amounted lo £13,52912023= £4,58811 23. RELATED PARTY DISCLOSLIRES Aggregate donations received from trustees during the year amounted to £60 (2023." £300). There were no further related paty Iransactions for Ihe year ended 31 March 2024 that require disclosure. Page 38