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:
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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.
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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.
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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.
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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.
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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