OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2023-03-31-accounts

VirtualSignature Transaction Ref. BSR5-FFS7-C6YR 20 Dec 2023 15:47:33 GMT (UTC +0) D 1/3 P 1/36

Company registration number: 02490618 Charity registration number: 702801

DANCE NORTH

(A company limited by guarantee)

Annual Report and Financial Statements

for the Year Ended 31 March 2023

VirtualSignature Transaction Ref. BSR5-FFS7-C6YR 20 Dec 2023 15:47:33 GMT (UTC +0) D 1/3 P 2/36

Dance North

Contents

Reference and Administrative Details 1 to 2
Trustees' Report 3 to 9
Independent Auditors' Report 10 to 12
Statement of Financial Activities 13
Statement of Financial Activities 14
Balance Sheet 15
Statement of Cash Flows 16
Notes to the Financial Statements 17 to 34

VirtualSignature Transaction Ref. BSR5-FFS7-C6YR 20 Dec 2023 15:47:33 GMT (UTC +0) D 1/3 P 3/36

Dance North

Reference and Administrative Details

Trustees K Crosbie (resigned 28 September 2022) R Israni S Paterson (resigned 27 March 2023) A Robson (resigned 22 June 2023) J Elgie J A Hails A Hope T J Petrides K L Tindall S Dewar P Fox D F Haley (appointed 27 March 2023) J H C Rycroft (appointed 14 December 2022) S Marland (appointed 14 December 2022) L C Forster (appointed 14 December 2022) C McMurchie (appointed 28 March 2023) L R Case (appointed 14 December 2022) J W V D Bosch (appointed 28 June 2022 and resigned 28 September 2023) Key Management Personnel Ms C Greener, Head of Communications (resigned 21 July 2022) Mr P Douglas, Director of Artistic Programmes & Artistic Development (resigned 18 May 2022) Mr A Bhatt, Artistic Director and CEO Ms H Kumar, Dance Engagement Coordinator (resigned 16 September 2022) Dr G Kleiman, Head of Higher Education Ms C Johns (appointed 31 January 2023), Executive Director Ms A Dentith (appointed 23 January 2023), Senior Marketing Manager Principal Office Dance City Temple Street Newcastle upon Tyne NE1 4BR Company Registration Number 02490618 Charity Registration Number 702801 Solicitors Muckle LLP Time Central 32 Gallowgate Newcastle Upon Tyne Tyne And Wear NE1 4BF Bankers Barclays Bank plc Grey Street 71 Grey Street Newcastle upon Tyne NE99 1JP

1

VirtualSignature Transaction Ref. BSR5-FFS7-C6YR 20 Dec 2023 15:47:33 GMT (UTC +0) D 1/3 P 4/36

Dance North

Reference and Administrative Details

Auditor

Azets Audit Services Chartered accountant and statutory auditor Bulman House Regent Centre Gosforth Newcastle upon Tyne NE3 3LS

2

VirtualSignature Transaction Ref. BSR5-FFS7-C6YR 20 Dec 2023 15:47:33 GMT (UTC +0) D 1/3 P 5/36

Dance North

Trustees' Report

The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements and auditors' report of the charitable company for the year ended 31 March 2023.

Structure, governance and management

Nature of governing document

The company is limited by guarantee and its governing document is its Memorandum and Articles of Association, dated 9th April 1990 and last amended 16 May 2019.

The governing body of the company is the board of directors, who also act as trustees for the charitable company, hold no shares in the charitable company, but each member is a guarantor of the charitable company to an amount not exceeding £1 in the event of winding up.

New members of the board are elected by the board or by the members of the charitable company in General Meetings.

Arrangements for setting key management personnel remuneration

The board, who give their time freely and no trustees received remuneration in the year, have considered who the Key Management Personnel (KMP) of the charity, as noted in the reference and administration section. Together with the board, these KMP are those in charge of directing and controlling, running and operating the activities of the charity on a day to day basis.

Pay levels are set using benchmarking together with budget and forecast information, ensuring that the charity can afford any proposed increases. The board then agree any uplift to remuneration.

Risk Management

The trustees are responsible for keeping proper accounting records and safeguarding the assets of the charitable company. We have assessed the major risks to which the charity is exposed, in particular those relating to the operations and finances of the charity. We are satisfied that systems are in place to mitigate the exposure to the major risks.

Objectives and activities

Objects and aims

The charity is governed by its constitution and its main objective is that of promoting, maintaining, improving and educating by the encouragement of the arts including dance, drama and music.

Fundraising disclosures

The charity is required to report how it deals with fundraising from the public. The charity has worked in this year with a professional fundraiser from a period of October 2022 to May 2023 to develop a grant pipeline from foundations and trusts. Any monies raised direct from the public follows all guidelines set out by the Charity Commission and UK law in every respect. We respect the privacy and contact preferences of all public donors.

3

VirtualSignature Transaction Ref. BSR5-FFS7-C6YR 20 Dec 2023 15:47:33 GMT (UTC +0) D 1/3 P 6/36

Dance North

Trustees' Report

Public benefit

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Review of charitable activities undertaken

Achievements and performance

Dance City's primary charitable objective is that of promoting, maintaining, improving and educating by the encouragement of the arts. We primarily focus on dance, but touch on drama and music and many other artforms too.

This year has been one of consolidation and expansion. Building on the successful bid to remain part of the National Portfolio for Arts Council England, the organisation has taken on more staff to deliver the ambition laid out in this bid, and is now creating a business plan for a vibrant future for dance in the North East.

Our vision for dance in our region remains the same: we believe in the power of dance to invigorate people and communities, and for dance to hold a special place in people’s hearts. Our mission in delivering that vision is for the North East to be an inspiring place to dance and experience dance.

Our purposes are to:

  1. Advocate for and invest in the highest standards in dance;

  2. Champion more people having access to best quality dance experiences as learners, participants and audiences;

  3. Ensure the dance workforce (on stage and off) are as skilled and as supported as they can be through our resources, and

  4. Collaborate with partners from across the cultural industries and the wider community to ensure that cultural life is the fabric of our country.

Dance City is catalyst, convenor, and creator of excellent dance and movement experiences from the North East, for the North East and the world. We act as a home and incubator for artists; a place where participants and audiences can experience dance and a place for students (including participants of non-accredited learning) to learn and create. Dance City is not a building, Dance City has a building: beyond our base in Newcastle we work from Berwick to Teesside, from Hexham to Sunderland.

Engagement Programme

The Dance City Engagement team continued to develop their activities to ‘get people moving’ inside and outside of the Dance City Temple Street site. The team developed regionwide partnerships with schools and community groups across the region.

We delivered activities in schools, to children aged 5 to 16, engaging a total of 4,671 people over 188 sessions as part of our Make Your Move programme. We engaged a further 6,004 people over 283 sessions led outside of formal education.

Dance City once again hosted U.Dance, a long-term national project led by One Dance UK in partnership with many dance organisations across the country; the sub-regional and regional platforms were held in March 2023 (and we would go on to host the national platform for the first time in July 2023. Dance City also hosted the final celebration of a project with Circus Central and the Angelou Centre.

4

VirtualSignature Transaction Ref. BSR5-FFS7-C6YR 20 Dec 2023 15:47:33 GMT (UTC +0) D 1/3 P 7/36

Dance North

Trustees' Report

We continued working with our 55+ Company, Boundless. The company, composed of 12 dancers, worked with Michael Heatley, Alyssa Lisle, Caroline Banks, Giulia Coti Zelati, and Pelican Theatre in weekly rehearsals in termtime weeks. They have worked with live performance, film, voice work, contemporary, ballroom. They have also performed in Edinburgh, Dance City, Town Moor, and performed in Nunsmoor and St Catherine’s Nursing Home. The number of audiences we have reached through Boundless activity is 632. As part of our Community Foundation Project work, we trained eight regional dance artists in delivering dance to older people.

Public Classes

Our public classes programme continued to provide inspirational dance moments for thousands of people; in 2022-23, there were nearly 2,500 classes with nearly 27,500 attendances, and 30 artists engaged to teach classes. The pandemic continues to exert an influence; occupancy of classes for the full year was at 53%, approximately 70% of pre-pandemic levels and is increasing steadily. This is identified as a key area for growth; with a return rate of approximately 50%, we know that we have a loyal core group of visitors who greatly value the Dance City experience, and significant potential for increasing the proportion of returning visitors. We provide a wide range of classes: genres range from ballet to hip hop to contemporary; ages from under 5 to 70+, and levels from beginners to expert, and will continue to experiment with new types of classes as the audience grows. In 2023, seven new classes were introduced based on customer feedback, including Vogue, Commercial Heels, and Bollywood. Easter and Summer Camps continue to do well, providing intensive, yet informal, learning for children during the school holidays. Halloween Camp will be a new introduction for the coming year.

Centre for Advanced Training (CAT)

Dance City’s CAT is part of the Department for Education’s (DfE) Music and Dance Scheme offering dance training for young people, aged 10-18. Means tested grants are available so affordability is not a barrier to taking part. Dance City also supports families with tuition and travel bursaries. The 2022-23 year saw 120 students participate across Newcastle and Sunderland in both contemporary and street dance programmes, 70% of whom were in receipt of means-tested DfE funding to cover all or part of CAT tuition fees.

Sixty-nine educational establishments were engaged with, over 2,300 sessions delivered, and 38 artists engaged to provide learning opportunities for these young people.

CAT Intensives took place with Peter Groom, Laura Vanhulle, Richard Chappell, and Holly Irving. Richard Chappell’s week with the graduating student was part of the co-commission between the Gillian Dickinson Trust and Dance City. Alex Thirkle, a CAT alumnus, has since returned to Dance City to perform with Russell Maliphant Company in Vortex in June 2023: an inspirational story of how CAT does change lives. Other engagements were with Joss Arnott’s Tin Man, and Humanhood at Northern Stage.

Higher Education

Our Higher Education work in partnership with University of Sunderland is another key area for growth. Despite the challenges facing the HE sector nationally around dance education, we continue to provide a high quality BA (Hons) in Professional Dance, preparing students for a successful career. In summer 2022, 10 students graduated with Honours. As of March 2023, there were 31 undergraduate students across the three years of study, of which 10 were recruited for start (into all years) in September 2022. Students worked with a range of artists, including Lizzie Klotz and Gillian Dickinson Trust commissionees, VOXED, to create and present new work. The BA3 group toured to local schools, further cementing our relationships with potential recruitment environments.

5

VirtualSignature Transaction Ref. BSR5-FFS7-C6YR 20 Dec 2023 15:47:33 GMT (UTC +0) D 1/3 P 8/36

Dance North

Trustees' Report

The MA Advanced Dance Performance was temporarily suspended due to staff moving on, as well as curricular priorities and market changes, but we continue to be in conversation about the University about an alternative provision aligned to current practice nationally and internationally. In 2022, eight students graduated from the MA after working with artists Lucy Suggate, Victor Fung and Patrick Ziza to create and tour new work, including a new partnership with Shipley Art Gallery in Gateshead.

Artist Development

Pro Class, our free classes for professional dance practitioners, continued throughout 2022-23 and our Pro Space offer continues to be a valuable tool for artists; available rehearsal space is emailed weekly to artists advising them of space they can train, rehearse, and develop new work in on an ad-hoc basis. Producer Surgeries were introduced for mentoring and connections, as well as Artists Breakfasts, an informal networking opportunity.

The Gillian Dickinson Trust supported Dance City’s artists in residence programme: each artist had an education residency, working across our programmes with young people, then continuing with Dance City for another two to four weeks to develop new choreographic work. The Esmee Fairbairn Foundation has supported Dance City, with the project ‘Inside Out, Outside In’; programming choreographic work outside of our Temple Street site, as well as inviting artists to curate a night at Dance City.

Artists supported included Rob Anderson, Yuvel Soria, Debbie Harbin, Laura Vanhulle, Mark Maughan, Payal Ramchandani, Dora Rubinstein, Curious Monkey, Anna Adam, Rendez-Vous Dance, Andy Gardiner, Shotput Theatre, Jennifer Essex, Feng Ling Dance Theatre, Nadia Iftkhar, Marika Brussell, Pelican Dance, and Meta 4.

Our commissions continued to improve inclusion and representation; as well as programming work from a diverse range of voices, our commissions included support for artists who identify as Lesbian, Gay, Bisexual, Transgender, Queer, Black, Asian, Minority, Ethnic/People of Colour, Disabled and mid-scale/mature (10 years plus of professional practice).

Lizzie Klotz and Luca Rutherford were awarded the £10,000 co-commission between Dance City and Festival of Thrift. Their work, The Answers, is about celebrating the power of collective joy, hope and imagination, in the face of the climate crisis. Janine Harrington was awarded the Dance City Full Stage work Commission and George Williams was awarded the Dance City Early Stage Work.

Overall, our artist development programme delivered:

Theatre Programme

Dance City has a 240-seat theatre showcasing dance performances from the North East, the UK and across the globe. We recognise the value of having such a specialised programme. It provides breadth to the offer for North East audiences, and valuable work for dance companies. The theatre from time to time is available for different kinds of performances and events, but dance will remain the main art form. During 2022-23, Dance City programmed 45 works with 58 performances with a total of 6,733 attendees. Highlights include:

6

VirtualSignature Transaction Ref. BSR5-FFS7-C6YR 20 Dec 2023 15:47:33 GMT (UTC +0) D 1/3 P 9/36

Dance North

Trustees' Report

Financial review

Policy on reserves

The calculation of free reserves is based on the definition included in the charity statement of recommended practice (SORP), which provides recommendations for accounting and reporting for charities. The trustees have examined the requirements of the charity to hold free reserves - those reserves not invested in tangible fixed assets, excluding long term liabilities, or designated for a particular purpose. The Trustees considered it would be appropriate to hold the equivalent of 10 weeks salary and overhead costs, which would equate to holding approximately £280,000 in free reserves, a policy reviewed by the Finance, Governance and Personnel Committee in 2022.

At the year end, free reserves were £246,210 (2022: £367,045) reflecting the planned deficit.The trustees will continue to work with funders to budget future surpluses in order to provide improved organisational resilience.

Investment policy and objectives

The charity's funds are controlled by the directors, who also act as trustees, who invest with a view to maximising annual investment income while maintaining capital growth in line with market trends. The attached financial statements show the current state of finances which the trustees consider to be sound.

The trustees can invest any sums or investments received by them in investments in which they are by law authorised to invest money, with power from time to time to change for others of a like nature.

Plans for future periods

At the time of writing, there remain a number of challenges in society; the cost of living crisis; Brexit uncertainty; climate change, and the longer term impact of Covid, including on our mental health. However, this means that Dance City’s mission is more important than ever.

The organisation remains in Arts Council England’s National Portfolio, with funding until March 2026, and the increasing success of the core programmes of theatre, higher education, Centre for Advance Training, engagement, and public classes, gives Dance City a robust foundation for growth. The organisation is currently developing a business plan that identifies opportunities to deliver more positive benefits in society, with four pillars for growth:

• Engagement and participation - deliver more dance moments to more people across the North East

• Artform - building and supporting a resilient and well-resourced dance ecosystem for all.

This business plan will be a catalyst for articulating our purpose, our mission, who we serve and who can help us do that.

7

VirtualSignature Transaction Ref. BSR5-FFS7-C6YR 20 Dec 2023 15:47:33 GMT (UTC +0) D 1/3 P 10/36

Dance North

Trustees' Report

Going concern

The charity’s forecasts and projections for the next twelve months show that the charity should be able to continue in operational existence for that period, taking into account reasonable possible changes in trading performance. The charity has strong positive cash balances and is forecasting for this to continue to be the case. The trustees have stress tested their forecasts, taking into account various scenarios, and remain confident that the uncertainties do not cast significant doubt on the company’s ability to continue as a going concern.

8

VirtualSignature Transaction Ref. BSR5-FFS7-C6YR 20 Dec 2023 15:47:33 GMT (UTC +0) D 1/3 P 11/36

Dance North

Trustees' Report

Statement of Trustees' Responsibilities

The trustees (who are also the directors of Dance North for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.

Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of information to auditor

Each trustee has taken steps that they ought to have taken as a trustee in order to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. The trustees confirm that there is no relevant information that they know of and of which they know the auditor is unaware.

Reappointment of auditor

In accordance with section 485 of the Companies Act 2006, a resolution for the re-appointment of Azets Audit Services as auditors of the charity is to be proposed at the forthcoming Annual General Meeting.

The annual report was approved by the trustees of the charity on20 December 2023.................... and signed on its behalf by:

David Haley 20 Dec 2023 15:31:40 GMT (UTC +0)

......................................... D F Haley Trustee

9

VirtualSignature Transaction Ref. BSR5-FFS7-C6YR 20 Dec 2023 15:47:33 GMT (UTC +0) D 1/3 P 12/36

Dance North

Independent Auditor's Report to the Members of Dance North

Opinion

We have audited the financial statements of Dance North (the 'charity') for the year ended 31 March 2023, which comprise the Statement of Financial Activities, Balance Sheet, Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is United Kingdom Accounting Standards, comprising Charities SORP - FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and applicable law (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements were authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

10

VirtualSignature Transaction Ref. BSR5-FFS7-C6YR 20 Dec 2023 15:47:33 GMT (UTC +0) D 1/3 P 13/36

Dance North

Independent Auditor's Report to the Members of Dance North

Opinion on other matters prescribed by the Companies Act 2006

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities [set out on page 9], the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

11

VirtualSignature Transaction Ref. BSR5-FFS7-C6YR 20 Dec 2023 15:47:33 GMT (UTC +0) D 1/3 P 14/36

Dance North

Independent Auditor's Report to the Members of Dance North

Due to the field in which the charity operates, we identified the following areas as those most likely to have a material impact on the financial statements: Health and Safety; employment law; and compliance with the UK Companies Act and Charities Act.

Owing to the inherent limitations of an audit, there is an unavoidable risk that some material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK). For instance, the further removed non-compliance is from the events and transactions reflected in the financial statements, the less likely the auditor is to become aware of it or to recognise the non-compliance.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the charitable company's trustees, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Simon Brown 20 Dec 2023 15:47:31 GMT (UTC +0)

...................................... Simon Brown BA ACA DChA (Senior Statutory Auditor) For and on behalf of Azets Audit Services , Chartered accountant and statutory auditor Bulman House Regent Centre Gosforth Newcastle upon Tyne NE3 3LS

20 December 2023 Date:.............................

Azets Audit Services is a trading name of Azets Audit Services Limited.

12

VirtualSignature Transaction Ref. BSR5-FFS7-C6YR 20 Dec 2023 15:47:33 GMT (UTC +0) D 1/3 P 15/36

Dance North

Statement of Financial Activities for the Year Ended 31 March 2023 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Note
Income and Endowments from:
Donations and legacies
3
Charitable activities
4
Other income
5
Total Income
Expenditure on:
Raising funds
6
Charitable activities
7
Total Expenditure
Net (expenditure)/income
Transfers between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
21		 Unrestricted
£
568,596
346,798
243,152
1,158,546
(11,115)
(1,291,695)
(1,302,810)
(144,264)
15,000
(129,264)
843,077
713,813		 Restricted
£
136,567
428,308
-
564,875
-
(549,875)
(549,875)
15,000
(15,000)
-
-
-		 Total
2023
£
705,163
775,106
243,152
1,723,421
(11,115)
(1,841,570)
(1,852,685)
(129,264)
-
(129,264)
843,077
713,813		 Total
2022
£
920,294
839,374
345,603
2,105,271
(29,030)
(2,100,568)
(2,129,598)
(24,327)
-
(24,327)
867,404
843,077

All of the charity's activities derive from continuing operations during the above two periods.

13

VirtualSignature Transaction Ref. BSR5-FFS7-C6YR 20 Dec 2023 15:47:33 GMT (UTC +0) D 1/3 P 16/36

Dance North

Comparative Statement of Financial Activities for the Year Ended 31 March 2022 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Note
Income and Endowments from:
Donations and legacies
3
Charitable activities
4
Other income
5
Total income
Expenditure on:
Raising funds
6
Charitable activities
7
Total expenditure
Net (expenditure)/income
Transfers between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
21		 Unrestricted
£
604,795
328,896
325,820
1,259,511
(29,030)
(1,369,808)
(1,398,838)
(139,327)
193,210
53,883
789,194
843,077		 Restricted
£
315,499
510,478
19,783
845,760
-
(730,760)
(730,760)
115,000
(193,210)
(78,210)
78,210
-		 Total
2022
£
920,294
839,374
345,603
2,105,271
(29,030)
(2,100,568)
(2,129,598)
(24,327)
-
(24,327)
867,404
843,077

14

VirtualSignature Transaction Ref. BSR5-FFS7-C6YR 20 Dec 2023 15:47:33 GMT (UTC +0) D 1/3 P 17/36

Dance North

(Registration number: 02490618) Balance Sheet as at 31 March 2023

Note
Fixed assets
Tangible assets
14
Investments
15
Current assets
Debtors
16
Cash at bank and in hand
Creditors: Amounts falling due within one year
17
Net current assets
Total assets less current liabilities
Creditors: Amounts falling due after more than one year
18
Net assets
Funds of the charity:
Unrestricted income funds
Unrestricted funds
Total funds
21		 2023
£
299,689
380,000
679,689
97,806
341,699
439,505
(193,295)
246,210
925,899
(212,086)
713,813
713,813
713,813		 2022
£
330,684
380,000
710,684
337,335
429,139
766,474
(399,429)
367,045
1,077,729
(234,652)
843,077
843,077
843,077

The financial statements on pages 13 to 34 were approved by the trustees, and authorised for issue on ....................20 December 2023and signed on their behalf by:

David Haley 20 Dec 2023 15:31:40 GMT (UTC +0) .........................................

D F Haley Trustee

15

VirtualSignature Transaction Ref. BSR5-FFS7-C6YR 20 Dec 2023 15:47:33 GMT (UTC +0) D 1/3 P 18/36

Dance North

Statement of Cash Flows for the Year Ended 31 March 2023

Note
Cash flows from operating activities
Net cash expenditure
Adjustments to cash flows from non-cash items
Depreciation
14
Working capital adjustments
Decrease/(increase) in debtors
16
(Decrease)/increase in creditors
17
Decrease in deferred income
18
Net cash flows from operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
14
Purchase of investments
15
Net cash flows from investing activities
Cash flows from financing activities
New loans and borrowings/ (repayments)
17
Net decrease in cash and cash equivalents
Cash and cash equivalents at 1 April
Cash and cash equivalents at 31 March		 2023
£
(129,264)
60,452
(68,812)
239,529
(25,730)
(181,730)
(36,743)
(29,457)
-
(29,457)
(21,240)
(87,440)
429,139
341,699		 2022
£
(24,327)
66,512
42,185
(31,567)
10,011
(53,396)
(32,767)
(47,913)
(380,000)
(427,913)
255,896
(204,784)
633,923
429,139

All of the cash flows are derived from continuing operations during the above two periods.

16

VirtualSignature Transaction Ref. BSR5-FFS7-C6YR 20 Dec 2023 15:47:33 GMT (UTC +0) D 1/3 P 19/36

Dance North

Notes to the Financial Statements for the Year Ended 31 March 2023

1 Charity status

The charity is limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.

The address of its registered office is: Dance City, Temple Street, Newcastle upon Tyne, NE1 4BR.

2 Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act 2011.

Basis of preparation

Dance North meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

The financial statements are prepared in Sterling, which is the functional currency of the entity.

Going concern

The charity’s forecasts and projections for the next twelve months show that the charity should be able to continue in operational existence for that period, taking into account reasonable possible changes in trading performance. This also considers the effectiveness of available measures to assist in mitigating the impact. The charity has strong positive cash balances and is forecasting for this to continue to be the case. The trustees have stress tested their forecasts, taking into account various scenarios, and remain confident that the uncertainties do not cast significant doubt on the company’s ability to continue as a going concern.

17

VirtualSignature Transaction Ref. BSR5-FFS7-C6YR 20 Dec 2023 15:47:33 GMT (UTC +0) D 1/3 P 20/36

Dance North

Notes to the Financial Statements for the Year Ended 31 March 2023

Estimation uncertainty and judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The judgements (apart from those involving estimations) that management has made in the process of applying the charitable company's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows:

Assessing indicators of impairment - In assessing whether there have been any indicators of impairment of assets, the trustees have considered both external and internal sources of information such as market conditions, counterpart credit ratings and experience of recoverability. There have been no indicators of impairment identified during the current financial year.

Deferred income - In assessing grants which have performance conditions (in relation to a time period or activity) the trustees have assessed information available. In the absence of clear contracts, the trustees defer income where it remains unspent at the year end and relates to a future activity.

Key sources of estimation uncertainty

The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year include:

Depreciation is estimated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset. An estimate of the useful economic life of assets is detailed in the depreciation accounting policy. The carrying amount is £299,689 (2022: £330,684).

Deferred income is estimated to recognise income in the period in which the performance conditions of the income are met. Income is deferred where performance conditions have not been fully met at year end. The carrying amount is £80,908 (2022: £262,638).

During the year ended 31 March 2022 a property was acquired at its market value of £380,000. The property is currently let and until such time that the tenancy ends the Trustees have categorised the property as an investment property, held at its market value which is currently the same as its purchase price. The carrying amount is £380,000 (2022: £380,000).

Income and endowments

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.

Donations and legacies

Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.

Grants receivable

Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.

18

VirtualSignature Transaction Ref. BSR5-FFS7-C6YR 20 Dec 2023 15:47:33 GMT (UTC +0) D 1/3 P 21/36

Dance North

Notes to the Financial Statements for the Year Ended 31 March 2023

Deferred income

Deferred income represents amounts received for future periods and is released to incoming resources in the period for which, it has been received. Such income is only deferred when:

-The donor specifies that the grant or donation must only be used in future accounting periods; or -The donor has imposed conditions which must be met before the charity has unconditional entitlement.

Investment income

Bank interest receivable is recognised once notification has been received, normally once the bank statement has been received.

Charitable activities

Income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted or unrestricted funds unless there is a contractural requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

Raising funds

These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Support costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

Governance costs

These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees’s meetings and reimbursed expenses.

19

VirtualSignature Transaction Ref. BSR5-FFS7-C6YR 20 Dec 2023 15:47:33 GMT (UTC +0) D 1/3 P 22/36

Dance North

Notes to the Financial Statements for the Year Ended 31 March 2023

Government grants

Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Tangible fixed assets

Individual fixed assets costing £250.00 or more are initially recorded at cost.

Depreciation and amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class Depreciation method and rate
Leasehold property Straight line over 19 years
Furniture and equipment 15% - 20% reducing balance
Computer equipment 25% straight line

Investment properties

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Trade debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

20

VirtualSignature Transaction Ref. BSR5-FFS7-C6YR 20 Dec 2023 15:47:33 GMT (UTC +0) D 1/3 P 23/36

Dance North

Notes to the Financial Statements for the Year Ended 31 March 2023

Trade creditors

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provision are normally recognised at their settlement amount after allowing for any trade discounts due.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Foreign exchange

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the statement of financial activities.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees's discretion in furtherance of the objectives of the charity.

Pensions and other post retirement obligations

The charitable company operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a penison fund and the entity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

Financial instruments

Classification

Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.

21

VirtualSignature Transaction Ref. BSR5-FFS7-C6YR 20 Dec 2023 15:47:33 GMT (UTC +0) D 1/3 P 24/36

Dance North

Notes to the Financial Statements for the Year Ended 31 March 2023

Recognition and measurement

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

22

VirtualSignature Transaction Ref. BSR5-FFS7-C6YR 20 Dec 2023 15:47:33 GMT (UTC +0) D 1/3 P 25/36

Dance North

Notes to the Financial Statements for the Year Ended 31 March 2023

3 Income from donations and legacies

Donations and legacies;
Donations from individuals
Grants, including capital grants;
Grants from other charities
Donations and legacies;
Donations from individuals
Grants, including capital grants;
Government grants
Grants from other charities
Grant income
Arts Council England
Community Foundation
Esmee Fairbairn
Kickstart Scheme (Government Grant)
Music and Dance Scheme
Newcastle Covid Business Support
Northstar
Gillian Dickinson Trust
Other
Total Grants (Including Government Grants)		 Unrestricted
funds
General
£
4,548
564,048
568,596
Unrestricted
funds
General
£
6,672
-
598,123
604,795		 Restricted
funds
£
-
136,567
136,567
Restricted
funds
£
2,000
84,336
229,163
315,499
2023
564,048
14,800
55,000
30,147
13,146
-
-
17,500
5,974
700,615		 Total
2023
£
4,548
700,615
705,163
Total
2022
£
8,672
84,336
827,286
920,294
2022
564,048
24,500
79,300
84,336
15,401
26,000
115,000
-
3,037
911,622

23

VirtualSignature Transaction Ref. BSR5-FFS7-C6YR 20 Dec 2023 15:47:33 GMT (UTC +0) D 1/3 P 26/36

Dance North

Notes to the Financial Statements for the Year Ended 31 March 2023

4 Income from charitable activities

Classes and workshops
Box office
Training programme
Room hire
Rental income
Cafe income
Classes and workshops
Box office
Training programme
Room hire
Rental income
Cafe income		 Unrestricted
funds
General
£
241,181
36,946
-
3,476
61,115
4,080
346,798
Unrestricted
funds
General
£
215,047
34,757
-
3,488
48,728
26,876
328,896		 Restricted
funds
£
-
-
428,308
-
-
-
428,308
Restricted
funds
£
3,273
-
507,205
-
-
-
510,478		 Total
2023
£
241,181
36,946
428,308
3,476
61,115
4,080
775,106
Total
2022
£
218,320
34,757
507,205
3,488
48,728
26,876
839,374

The majority of cafe income is taken in respect of students and other guests using the charity's facilities. As a result, most of this income is considered in line with the primary purpose and is not considered as trading income.

Rental income, likewise, is rental of studio space and is in line with the charity's Primary Purpose.

5 Other income

Unrestricted
funds Total
General 2023
£ £
Other income 243,152 243,152

Other income includes; Degree MA, College, & Merchandise income.

Other income
Government Grants - CJRS		 Unrestricted
funds
General
£
311,409
14,411
325,820		 Restricted
funds
£
19,783
-
19,783		 Total
2022
£
331,192
14,411
345,603

24

VirtualSignature Transaction Ref. BSR5-FFS7-C6YR 20 Dec 2023 15:47:33 GMT (UTC +0) D 1/3 P 27/36

Dance North

Notes to the Financial Statements for the Year Ended 31 March 2023

6 Expenditure on raising funds

a) Costs of trading activities

Other direct costs of activities for generating funds
Other direct costs of activities for generating funds
7
Expenditure on charitable activities
Classes and workshops
Support costs
Classes and workshops
Support costs
Classes and workshops
Governance costs		 Note
Note
Unrestricted
funds
General
£
646,541
645,154
1,291,695
Unrestricted
funds
General
£
759,367
610,441
1,369,808
Activity
undertaken
directly
£
1,074,849
-
1,074,849		 Unrestricted
funds
General
£
11,115
11,115
Unrestricted
funds
General
£
29,030
29,030
Restricted
funds
£
428,308
121,567
549,875
Restricted
funds
£
446,987
283,773
730,760
Activity
support
costs
£
755,074
11,647
766,721		 Total
2023
£
11,115
11,115
Total
2022
£
29,030
29,030
Total
2023
£
1,074,849
766,721
1,841,570
Total
2022
£
1,206,354
894,214
2,100,568
2023
£
1,829,923
11,647
1,841,570

25

VirtualSignature Transaction Ref. BSR5-FFS7-C6YR 20 Dec 2023 15:47:33 GMT (UTC +0) D 1/3 P 28/36

Dance North

Notes to the Financial Statements for the Year Ended 31 March 2023

Classes and workshops
Governance costs		 Activity
undertaken
directly
£
1,206,354
-
1,206,354		 Activity
support
costs
£
885,294
8,920
894,214		 2022
£
2,091,648
8,920
2,100,568

The charitable company allocates costs direct to activities as far as possible, then allocated the remaining costs of its support functions. It then identifies those costs which relate to the governance function. Having identified its governance costs, the remaining support costs together with the governance costs are apportioned between the key charitable activities undertaken in the year. The basis for apportionment and the analysis of support and governance costs is set out as follows:

Direct to governance: audit fees and accountancy fees. Direct to charitable activities: all other support costs.

8 Analysis of governance and support costs

Support costs allocated to charitable activities

Staff costs
Premises costs
Communications and IT
General office
Finance costs
Governance costs
Depreciation
Motor, travel and accommodation
Technical costs and venue hire
Legal and professional fees		 Support
costs
£
296,779
241,142
26,209
92,045
6,690
11,647
60,452
211
5,136
26,410
766,721		 Total
2023
£
296,779
241,142
26,209
92,045
6,690
11,647
60,452
211
5,136
26,410
766,721		 Total
2022
£
463,274
170,799
36,951
94,327
7,639
8,920
62,002
4,690
2,761
42,851
894,214

26

VirtualSignature Transaction Ref. BSR5-FFS7-C6YR 20 Dec 2023 15:47:33 GMT (UTC +0) D 1/3 P 29/36

Dance North

Notes to the Financial Statements for the Year Ended 31 March 2023

Governance costs

Audit fees
Audit of the financial statements
Other fees paid to auditors
Audit fees
Audit of the financial statements
Other fees paid to auditors
9
Net incoming/outgoing resources
Net outgoing resources for the year include:
Audit fees
Other non-audit services
Depreciation of fixed assets
Pension contributions		 Unrestricted
funds
General
£
9,500
2,147
11,647
Unrestricted
funds
General
£
7,000
1,920
8,920
2023
£
9,500
2,147
60,452
13,516		 Total
2023
£
9,500
2,147
11,647
Total
2022
£
7,000
1,920
8,920
2022
£
7,000
1,920
66,512
18,635

10 Trustees remuneration and expenses

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.

Professional indemnity insurance of £749 (2022: £749) was paid by the charitable company on behalf of the trustees.

27

VirtualSignature Transaction Ref. BSR5-FFS7-C6YR 20 Dec 2023 15:47:33 GMT (UTC +0) D 1/3 P 30/36

Dance North

Notes to the Financial Statements for the Year Ended 31 March 2023

11 Staff costs

The aggregate payroll costs were as follows:

Staff costs during the year were:
Wages and salaries
Social security costs
Pension costs		 2023
£
888,680
56,756
13,516
958,952		 2022
£
1,094,436
73,069
18,635
1,186,140

The monthly average number of persons (including senior management team) employed by the charity during the year :

charity during the year :
Administration and finance staff
Artistic staff		 2023
No
39
28
67		 2022
No
39
33
72

No employee received emoluments of more than £60,000 during the year.

The total employee benefits of the key management personnel of the charity were £190,120 (2022 - £274,196).

12 Auditors' remuneration

12 Auditors' remuneration
Audit of the financial statements
Other fees to auditors
All other non-audit services		 2023
£
9,500
2,147		 2022
£
7,000
1,920

13 Taxation

The charity is exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

28

VirtualSignature Transaction Ref. BSR5-FFS7-C6YR 20 Dec 2023 15:47:33 GMT (UTC +0) D 1/3 P 31/36

Dance North

Notes to the Financial Statements for the Year Ended 31 March 2023

14 Tangible fixed assets

14 Tangible fixed assets
Cost
At 1 April 2022
Additions
At 31 March 2023
Depreciation
At 1 April 2022
Charge for the year
At 31 March 2023
Net book value
At 31 March 2023
At 31 March 2022		 Land and
buildings
£
300,000
-
300,000
189,474
15,789
205,263
94,737
110,526		 Furniture and
equipment
£
446,404
29,457
475,861
286,380
25,080
311,460
164,401
160,024		 Computer
equipment
£
153,872
-
153,872
93,738
19,583
113,321
40,551
60,134		 Total
£
900,276
29,457
929,733
569,592
60,452
630,044
299,689
330,684

Included within the net book value of land and buildings above is £Nil (2022 - £Nil) in respect of freehold land and buildings and £94,737 (2022 - £110,526) in respect of leaseholds.

15 Fixed asset investments

Investment properties
Investment properties		 2023
£
380,000		 2022
£
380,000
Investment properties
Cost or Valuation
At 1 April 2022
Provision
At 31 March 2023
Net book value
At 31 March 2023
At 31 March 2022		 Investment
properties
£
380,000
-
380,000
380,000

The investment property was acquired in the prior year at it's market value and the Trustees' consider this to be unchanged at the current year end.

29

VirtualSignature Transaction Ref. BSR5-FFS7-C6YR 20 Dec 2023 15:47:33 GMT (UTC +0) D 1/3 P 32/36

Dance North

Notes to the Financial Statements for the Year Ended 31 March 2023

16 Debtors

16 Debtors
Trade debtors
Prepayments and accrued income
Other debtors		 2023
£
44,698
50,515
2,593
97,806		 2022
£
305,902
21,984
9,449
337,335

Included in Trade Debtors is a provision for doubtful debts totalling £370 (2022:£17,748)

17 Creditors: amounts falling due within one year

Trade creditors
Other loans
Other taxation and social security
Other creditors
Accruals
Deferred income
Deferred income at 1 April 2022
Resources deferred in the period
Amounts released from previous periods
Deferred income at year end		 2023
£
51,983
22,570
16,150
9,109
12,575
80,908
193,295
2023
£
262,638
80,908
(262,638)
80,908		 2022
£
48,755
21,244
24,499
13,774
28,519
262,638
399,429
2022
£
316,034
246,638
(300,034)
262,638

18 Creditors: amounts falling due after one year

18 Creditors: amounts falling due after one year
2023 2022
£ £
Other loans 212,086 234,652
Creditors amounts falling due after more than one year includes the following liabilities, on which
security has been given by the charity:
Amounts due within one year
Amounts due between 1-2 years
Amounts due between 2-5 years
Amounts due in more than 5 years		 2023
£
22,570
22,570
82,786
106,730
234,656		 2022
£
21,244
21,243
77,889
135,520
255,896

30

VirtualSignature Transaction Ref. BSR5-FFS7-C6YR 20 Dec 2023 15:47:33 GMT (UTC +0) D 1/3 P 33/36

Dance North

Notes to the Financial Statements for the Year Ended 31 March 2023

Other loans

Other loans includes a loan from Northstar Ventures Limited originally for £265,000 with a nominal interest rate of 6%, and the final instalment is due on 1 June 2031. The carrying amount at year end is £234,656 (2022: £255,896).

19 Pension and other schemes

Defined contribution pension scheme

The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £13,516 (2022 - £18,635).

Contributions totalling £3,127 (2022 - £5,051) were payable to the scheme at the end of the year and are included in creditors.

20 Commitments

Capital commitments

The total amount contracted for but not provided in the financial statements was £5,974 (2022 - £Nil).

21 Funds

Unrestricted
General
General Fund
Restricted
Esmee Fairbairn
Centre for Advanced
Training
Community Foundation
Kickstart
Donors
Gillian Dickinson Trust
Newcastle City Council
Total restricted
Total funds		 Balance at
1 April
2022
£
843,077
-
-
-
-
-
-
-
-
843,077		 Incoming
resources
£
1,158,546
55,000
428,308
14,800
30,147
4,120
17,500
15,000
564,875
1,723,421		 Resources
expended
£
(1,302,810)
(55,000)
(428,308)
(14,800)
(30,147)
(4,120)
(17,500)
-
(549,875)
(1,852,685)		 Transfers
£
15,000
-
-
-
-
-
-
(15,000)
(15,000)
-		 Balance at
31 March
2023
£
713,813
-
-
-
-
-
-
-
-
713,813

31

VirtualSignature Transaction Ref. BSR5-FFS7-C6YR 20 Dec 2023 15:47:33 GMT (UTC +0) D 1/3 P 34/36

Dance North

Notes to the Financial Statements for the Year Ended 31 March 2023

Unrestricted funds
General
General Fund
Designated
Funds Set Aside - Budget
Deficit
Total unrestricted funds
Restricted
Esmee Fairbairn
Centre for Advanced
Training
Catalyst: Evolve
Community Foundation
Nexus Co
Thrift Co
Kickstart
Donors
Northstar
Total restricted funds
Total funds		 Balance at
1 April
2021
£
629,194
160,000
789,194
-
-
78,210
-
-
-
-
-
-
78,210
867,404		 Incoming
resources
£
1,259,511
-
1,259,511
86,783
525,841
-
19,500
8,300
4,000
84,336
2,000
115,000
845,760
2,105,271		 Resources
expended
£
(1,398,838)
-
(1,398,838)
(86,783)
(525,841)
-
(19,500)
(8,300)
(4,000)
(84,336)
(2,000)
-
(730,760)
(2,129,598)		 Transfers
£
353,210
(160,000)
193,210
-
-
(78,210)
-
-
-
-
-
(115,000)
(193,210)
-		 Balance at
31 March
2022
£
843,077
-
843,077
-
-
-
-
-
-
-
-
-
-
843,077

32

VirtualSignature Transaction Ref. BSR5-FFS7-C6YR 20 Dec 2023 15:47:33 GMT (UTC +0) D 1/3 P 35/36

Dance North

Notes to the Financial Statements for the Year Ended 31 March 2023

The specific purposes for which the funds are to be applied are as follows:

Unrestricted funds comprise those funds which the trustees are free to use for any purpose in furtherance of the charitable objectives. Unrestricted funds include designated funds, where the trustees, at their discretion, have created a fund for a specific purpose.

The basis for calculating 'free reserves' are after allowing for all designated funds, fixed assets and other non-current assets and liabilities.

Esmee Fairbairn is an intensive leadership and management development course for 10 professional artists in the North East each year.

Centre for Advanced Training are funds received from the Department of Education which contributes towards the delivery to students participating in the Government Music and Dance Scheme.

Catalyst: Evolve is funding from the Arts Council England to provide a two year programme which commenced in Septermber 2016. A transfer has been made in the year as the fund has been fully spent as at the year ended 31 March 2022.

Dance City received income from a number of partner organisations through the year for specific projects.

Nexus Co: supported Dance City to create a site specific performance at their train stations to celebrate their anniversary.

Thrift Co: We received income from Festival of Thrift to co-commission a new choreography to be presented at the Festival in Kirkleathem in September 2021.

Kickstart: We were proud to host the government's Kickstart scheme. With this grant, we were able to support young people aged 16-25 into employment opportunities related to dance.

Northstar: Dance City were fortunate to receive support from Northstar for the purchase of a property which is in Heaton. The property came with sitting tenants. The long term ambition of this property is to be able to house artists whilst they work on dance projects at Dance City.

Gillian Dickinson Trust- income received to support two artist co-commissions every year.

Newcastle City Council- grant provided towards a new lift.

33

VirtualSignature Transaction Ref. BSR5-FFS7-C6YR 20 Dec 2023 15:47:33 GMT (UTC +0) D 1/3 P 36/36

Dance North

Notes to the Financial Statements for the Year Ended 31 March 2023

22 Analysis of net assets between funds

Tangible fixed assets
Fixed asset investments
Net current assets/(liabilities)
Creditors over 1 year
Total net assets
Tangible fixed assets
Fixed asset investments
Net current assets/(liabilities)
Creditors over 1 year
Total net assets
23 Analysis of net funds
Cash at bank and in hand
Other loans due within one year
Other loans due after more than one year
Net funds
Cash at bank and in hand
Debt due within one year
Debt due after more than one year
Net funds		 At 1 April
2022
£
429,139
(21,244)
(234,652)
173,243
At 1 April
2021
£
633,923
-
-
633,923		 Unrestricted
General
£
299,689
380,000
246,210
(212,086)
713,813
Unrestricted
General
£
330,684
380,000
367,045
(234,652)
843,077
Financing
cash flows
£
(87,440)
(1,326)
22,566
(66,200)
Financing
cash flows
£
(204,784)
(21,244)
(234,652)
(460,680)		 Total funds
at 31 March
2023
£
299,689
380,000
246,210
(212,086)
713,813
Total funds
at 31 March
2022
£
330,684
380,000
367,045
(234,652)
843,077
At 31 March
2023
£
341,699
(22,570)
(212,086)
107,043
At 31 March
2022
£
429,139
(21,244)
(234,652)
173,243

24 Related party transactions

There were no related party transactions in the year.

34