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2023-04-05-annual-report

DANCE ASSOCIATE LTD

(A private company Limited by Guarantee and not having Share Capital, and a registered charity)

Registered in Northern Ireland Charity Registration Number: NIC106918 Company Registration Number: NI612228

Annual Report and Financial Statements for the year ended 05 April 2023

Period of Accounts Start date: 06 April 2022 End date: 05 April 2023

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Contents
Introduction ..................................................................................................................................................... 1-2
Legal and Administrative Information ................................................................................................................ 3
Directors Report ................................................................................................................................................ 4
1.
Structure, Governance and Management ............................................................................................. 4
1.1.
Legal Status and Organisation ...................................................................................................... 4
1.2.
Board of Trustees .......................................................................................................................... 4
1.3.
Management Board ....................................................................................................................... 4
1.4.
Related Parties and Co-operation with Other Organisations ........................................................ 4
2.
Charitable Purposes ........................................................................................................................... 5-6
3.
Public Benefit Statement ....................................................................................................................... 6
4.
Report .................................................................................................................................................... 6
4.1.
Achievements in the Year .............................................................................................................. 6
4.2.
Production, Performance & Touring .............................................................................................. 7
4.3.
Participation & Outreach ................................................................................................................ 7
4.4.
Artistic Development ...................................................................................................................... 7
4.5.
Studio Programmes & Workshops................................................................................................. 7
5.
Financial Review .................................................................................................................................... 8
5.1.
Income and Expenditure .............................................................................................................. 15
5.2.
Funds Position ............................................................................................................................. 15
5.3.
Reserves Policy ........................................................................................................................... 15
6.
Risk Management ................................................................................................................................ 16
7.
Staff ...................................................................................................................................................... 16
8.
Fundraising Activities ........................................................................................................................... 16
9.
Political Donations ............................................................................................................................... 16
10.
Additional Information ...................................................................................................................... 17
Statement of Trustees’ Responsibilities in respect of the Strategic Report, the Trustees’ Annual Report, and
the Financial Statements ................................................................................................................................. 18
Independent Examiner................................................................................................................................. 19
Small Company Provisions .......................................................................................................................... 19
Independent Examiner’s Report ...................................................................................................................... 19
Statement of Financial Activities ...................................................................................................................... 21
Balance Sheet ................................................................................................................................................. 22
Notes to the Accounts ...................................................................................................................................... 23

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Dance Associate Ltd - Annual Report and Financial Statements for the Period 06 April 2022 – 05 April 2023

Introduction

The year 2022-2023 infused Dance Associate with a renewed sense of vitality. Despite the persistent challenges posed by the pandemic and post-pandemic period, our commitment to making a meaningful impact on the lives of our audiences and participants has never been stronger. As Chairperson, I am pleased to share the highlights of our vibrant year.

The revival of main stage performances marked a significant milestone for Dance Associate as we celebrated our 10th anniversary. We proudly presented two performances at the conclusion of the 2022-2023 season: on 16th June at Vault Artistic Studios in Belfast and on 18th June 2022 at Newry Town Hall, featuring the Triple Bill of Chapters. Additionally, participants from the recreational programme, along with the youth group, delivered a memorable performance at the season's end, also at Newry Town Hall.

Dance Associate's role in shaping and leading the dance sector extends from our home in Newry, where performances, training, and open programmes contribute to our ongoing development. We prioritise not only nurturing our own talents but also sharing our expertise across the sector by building networks and disseminating knowledge. In 2022, we curated our inaugural season of professional work, featuring pieces by three independent choreographers supported by the Arts Council NI (ACNI), dedicated to nurturing the development and creativity of emerging choreographers. Furthermore, we celebrated the tenth season of Dance Associate’s "Step by Step" project and the second season of the Newry Youth Dance Company, and the “Impact” project, part of which is supported by the Educational Authority NI to deliver youth work alongside with dancing.

A pivotal moment in late 2022 was the approval of Dance Associate by the British multinational publishing and education company "PEARSON" and the Joint Council for Qualifications regulatory body to become an approved centre to deliver BTEC & GCSE qualifications. This milestone enables us to offer accredited training courses, providing opportunities for growth and expansion in the future.

However, Dance Associate has faced financial challenges, posting an operational deficit of £27,558 during the period due to ongoing business interruptions and uncertainty emerging from the pandemic. The increased financial risks, political climate, funding reductions, financial crisis, and a rise in living costs necessitate close monitoring by the Board and management for overall sustainability. It emphasises the importance of self-generated philanthropy and commercial income.

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Dance Associate Ltd - Annual Report and Financial Statements for the Period 06 April 2022 – 05 April 2023

We extend our deepest gratitude for the unwavering support of our donors, the commitment and loyalty of our participants and audiences, and the backing of the Arts Council Northern Ireland, Educational Authority, and local funding bodies and businesses. The financial foundations of Dance Associate are crucial for confident planning, and the Board is dedicated to ensuring financial sustainability for the flourishing artistic journey of the organisation.

Reflecting on the performances of 2022-2023, I am filled with joy and appreciation for the extraordinary value of our work both on stage and in the community. My heartfelt thanks go to our Board of directors/trustees, Dominic Moore, Victoria Campbell, Malcolm Dibb, our indefatigable Artistic Director and Manager at once, Nina Dibb, for their capable and committed leadership. Alongside our remarkable team of teachers united by a common purpose, Dance Associate has made significant progress despite uncertainties, and the future looks exceptionally bright.

We anticipate the Board member’s valuable knowledge and wealth of experiences will further contribute to our journey. Gratitude is extended to Victoria Campbell for her time on the Board and her dedicated leadership of the Dance Youth Committee. Special thanks to my fellow Board members for their diligence, commitment, and enthusiasm. As my term on the Board will be coming to an end in 2024, I start to reflect on almost ten years with Dance Associate with immense pride. Being part of this extraordinary organisation has been a privilege that I will forever cherish.

Peter Shannon

Chair

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Dance Associate Ltd - Annual Report and Financial Statements for the Period 06 April 2022 – 05 April 2023

Legal and Administrative Information

Directors and Trustees:

Peter Shannon (Chair) Dominic Moore Malcolm Dibb Victoria Campbell

Secretary:

Vladimir Samsonik

Registered Address:

52 Mill Street Newry County Down GB-NIR BT34 1AG

Company Registration Number: Charity Registration Number:

NI612228

NIC106918

Accountant:

Stuart Davis Consulting Ltd 23 Carnforth Road Heaton Chapel Stockport SK4 5LL

Independent Examiner:

Paul Voltzenlogel 9 Queens Court Haywards Heath RH16 1RJ

Bankers:

HSBC UK 25-29 Royal Avenue Belfast BT1 1FB

Key Management Personnel:

Nina Dibb – Executive & Artistic Director Victoria Campbell - Youth Coordinator Vladimir Samsonik (until January 2023)

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Dance Associate Ltd - Annual Report and Financial Statements for the Period 06 April 2022 – 05 April 2023

Directors’ Annual Report for the year ended 31 March 2023

The Trustees (who are also Directors for company law purposes) have pleasure in submitting their Annual Report and financial statements of the company for the year ending 5[th] April 2023.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Charity's Memorandum and Articles of Association, the Companies Act 2006 and "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)" (as amended for accounting periods commencing from 1 January 2016)

1. Structure, Governance and Management

1.1. Legal Status and Organisation

Dance Associate Ltd is a private company limited by guarantee, incorporated on 16 April 2012, and registered in Northern Ireland with the registration number NI612228. On 01 April 2019, the company became a charity registered with the Charity Commission for Northern Ireland (charity registration number: NIC106918). The company operates under its Articles of Association, adopted on 19 January 2019.

As members of Dance Associate, a representative from our management board is invited to sit on the Dance Associate board. We collaborate closely to promote good governance, adhere to best practices, and facilitate effective communication across the organization. This collaborative effort ensures the commitment and connected partnerships work cohesively to manage the strategic direction for Dance Associate efficiently and effectively.

1.2. Board of Trustees

During the reporting period, the following trustees held office:

1.3. Management Board

There are currently 4 directors on the Management Board.

The Management Board administers the Charity. To facilitate effective operations, Nina Dibb as Executive and Artistic Director, and Vladimir Samsonik as Company Secretary and

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Dance Associate Ltd - Annual Report and Financial Statements for the Period 06 April 2022 – 05 April 2023

Marketing manager jointly have delegated authority from the Management Board for operational matters including finance and management and general day to day operations of the organisation.

New directors/trustees undergo an induction day to brief them on their legal obligations under charity and company law, the charity commission guidance on public benefit, and inform them of the content of the Memorandum and Articles of Association, the board and the decision-making process, the business plan and recent financial performance of the charity. No new directors elected during the 2022 - 2023 period.

1.4. Related Parties and Co-operation with Other Organisations

None of the Directors receives remuneration or other benefits from their work with the Charity. Any connection between a director or senior member of the charity with a contracted supplier must be disclosed to the full Management Board in the same way as any other contractual relationship with a related party. In the current year, no such related party transactions were reported.

Victoria Campbell and Vladimir Samsonik provided various freelance work for the company, for which Victoria received £5,870, and Vladimir received £1,500, in total during the year.

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Dance Associate Ltd - Annual Report and Financial Statements for the Period 06 April 2022 – 05 April 2023

2. Charitable Purposes

Dance Associate Limited is a voluntary organisation in Northern Ireland addressing social welfare through performing and creative arts for recreation and other leisure activities, with the aim of improving the conditions of life and well-being of the people of Northern Ireland.

The objective is to provide equality of opportunity to those who have otherwise been marginalized from mainstream arts provision. Dance Associate Limited seeks to enhance public knowledge of the cultural and educational value of arts in all their aspects through the management of events for public performance and the showcasing of performing and creative arts.

Dance Associate Limited promotes, maintains, and improves performing and creative arts education, particularly through the production of workshops, performances, and the encouragement of various arts forms, including contemporary dance, drama, mime, singing, and music. This includes the development, preparation, and establishment of projects to:

Dance Associate Ltd is not limited in the art form used by and for people for artistic expression. The organisation aims to encourage appreciation for and participation in the arts by providing educational performing and creative arts projects, information, and training, as well as classes, workshops, arts facilities and equipment, support and instruction, and the organisation of showcases of works and events.

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Dance Associate Ltd - Annual Report and Financial Statements for the Period 06 April 2022 – 05 April 2023

The company’s objects (‘Objects’) are specifically restricted to the following:

To support and develop a vibrant performing and creative arts ecology in Northern Ireland which will encourage people of Northern Ireland of all ages to participate in and appreciate performing arts and introduce people to culture with the objective of improving their conditions of life and well-being and in particular: -

(a) to promote, maintain and improve performing arts education particularly through the production of workshops, performances and the encouragement of the arts including contemporary dance, drama, mime, singing and music

(b) to foster, promote and advance preparation and establishment of projects and events in partnership with similar artistic organisations

(c) to promote education and training in performing and creative arts and related subjects particularly for children, young people, elderly people, and others who, for whatever reason, may be considered excluded from society

(d) to advance performing and creative arts through the provision of training, career advice, coaching and continuing professional development for performing and creative arts practitioners and organisations upon terms appropriate to their means and in such other ways as the directors shall in their absolute discretion determine

(e) to encourage appreciation for and participation in the performing and creative arts in all its aspects through the provision of affordable facilities, resources, training and such other services appropriate for the creation, production, performance and appreciation of the performing and creative art forms; and

(f) to advance and raise the profile of performing and creative art forms through the promotion of artistic collaborations and fostering of partnerships with similar artistic organisations involving activities such as workshops and trips to theatrical performances.

3. Public Benefit Statement

Charity trustees are obligated to formulate strategic plans to guarantee the provision of public benefit and the accomplishment of objectives outlined in our governing document. These objectives align with the purposes stipulated by the Charities Act 2011. When assessing our aims and objectives and planning future activities, we have consulted the Charity Commission for Northern Ireland’s general guidance on public benefit. Specifically, the trustees evaluate how planned activities will contribute to the aims and objectives they have established.

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Dance Associate Ltd - Annual Report and Financial Statements for the Period 06 April 2022 – 05 April 2023

4. Artistic Director's Report

I take immense pride in the collective achievements of the entire Dance Associate team throughout the 2022-2023 season. Despite facing challenges, we consistently delivered a spectacular year of dance experiences to local and distant audiences. As the Executive & Artistic Director, one of my initial and challenging tasks was contributing to the company's first professional work commemorating our 10th anniversary. While this experience proved extraordinary for both our audiences and dancers, balancing the roles of Executive Director and Artistic Director posed significant challenges.

The meticulous management of budgeting, funding applications, and coordination of artists, venues, and dancers, alongside overseeing all projects and programmes, was a resounding success. Performances in Belfast and Newry garnered positive reviews, attesting to the pivotal role of thorough preparation and planning. The initiation of the Triple Bill “Chapters" marked our 10th anniversary, and this professional work received critical acclaim. Gratitude is extended to the Arts Council Northern Ireland for their crucial funding support, making this achievement possible.

In 2022, we maintained our tradition of delivering high-quality dance experiences to our local community and beyond. The Impact Project, a collaborative effort involving Dance Associate in various local settings, celebrated a significant community milestone. Dancers from our youth ensemble, studio classes, cross-border dance students, and the community participated in a creative project that merged art and technology, highlighting the benefits of dance in support of male mental well-being.

The ongoing support from the Arts Council Northern Ireland continues to enhance the cultural life of our community, and we express consistent gratitude for their indispensable assistance. Special thanks are extended to the Arts Council Northern Ireland for their investment in our collaboration with local artists, enabling the commissioning and showcasing of three stunning works by three incredible Northern Ireland-based choreographers.

The realisation of a long-standing dream came to fruition in 2022 as part of the 10thanniversary celebration. Triple Bill “Chapters," bursting with vitality and impact, featured contemporary dance pieces that spoke to everyone. This marked the company’s 10th anniversary and the first year of professional work support. Despite challenges posed by the pandemic, the company successfully brought this thrilling work to life in just two venues –

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Dance Associate Ltd - Annual Report and Financial Statements for the Period 06 April 2022 – 05 April 2023

Newry and Belfast. The performance in Belfast drew a new audience of supporters and media, marking a wonderful welcome back after the pandemic.

"Chapters" was then presented to our home audiences for a season at the Newry Town Hall. In creating "Chapters," I stepped away from the artistic direction, allowing selected choreographers to bring their work without guidance. The dancers, integral to the creative process, breathed life into the choreographers' creative impulses, and I express my gratitude for their generosity and tireless efforts.

The "Chapters" featured three premieres; "Allies" choreographed by Suzannah McCreight, "Hoodies" choreographed by Emily McDonagh, and “Our Boys” choreographed by Michael McEvoy, along with the return of my work "Years "at the Later Stage in December 2022. The success of "Chapters" was made possible by the generosity, creativity, and hard work of our artistic collaborators; composers Brendan Scullion, produced by Eoin Curran, Patrick Knipe, and Nick Boyle, and dancers Patrick Connolly, Adam Ashford, Oisin Dunne, Rhys Devlin, and Sean O’Neill.

Our enduring partnership with local authorities, including the Educational Authority Northern Ireland, has been instrumental in our ongoing operations and artistic endeavours. With their support, we've maintained our connection with the community through community classes and other projects and programmes.

Dance Associate remains devoted to nurturing the next generation of Northern Ireland’s talent. It was a thrill to bring the tenth Season to life with three emerging choreographers who explored thought-provoking, challenging, and stimulating themes through their works.

Acknowledging and expressing sincere gratitude to our donors, supporters, and volunteers for their continued support is paramount. Their contributions have enabled the flourishing of our projects and programmes, allowing us to nurture young dancers through programs such as the Newry Youth Dance Company (NYDC), the “Impact” project, and the “Step by Step” programme.

Reflecting on the performances of 2022-2023 fills me with joy and appreciation for the extraordinary value of our work both on stage and in the community. My heartfelt thanks go to our Board of Directors, including the Chair Peter Shannon, for their capable and committed leadership. Alongside our remarkable team of teachers united by a common purpose, Dance Associate has made significant progress despite uncertainties, and the future looks exceptionally bright.

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Dance Associate Ltd - Annual Report and Financial Statements for the Period 06 April 2022 – 05 April 2023

In addition, we took an honest, open, and judgment-free look at some of the biggest challenges facing men today. Despite all pieces being different, they do have one very important factor in common: they are all designed to spark a discussion between male friends and family members and encourage men to share their thoughts and fears relating to everything from financial worries to relationship concerns and mental health battles. The pieces are intended to show that it’s OK to talk.

Nina Dibb

Executive & Artistic Director

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Dance Associate Ltd - Annual Report and Financial Statements for the Period 06 April 2022 – 05 April 2023

5. Board’s Report

5.1. Achievements in the Year

A Symphony of Creative Expression: Dance Associate's Artistic Odyssey

In the ethereal realm where movement converges with emotion, Dance Associate stands as a luminary, weaving its distinctive approach to performing and creative arts education into the very fabric of the Northern Irish cultural landscape. In the reverberating echoes of a challenging year, Dance Associate resolutely reaffirms its commitment to dance – a profound response that is not just physical but intellectual and sensorial, resonating across diverse audiences from seasoned professionals to the youngest of dreamers and their parents.

A Tapestry of Originality: The Dance Chronicles

As the curtain rises on Dance Associate's latest chapter, the company has unfurled a tapestry of original performance works, meticulously tailored for diverse venues and the enchanting embrace of site-specific settings. The magic doesn't merely unfold within the confines of the professional dance realm; it spills beyond, guided by seasoned artists who lead participants on a journey across various styles. From the poignant grace of 'Allies' to the rhythmical exploration of societal pressures in 'Hoodies' and the profound dive into men's mental health in 'Our Boys,' the 'Chapters' initiative is an opulent symphony of creativity.

Cultural Alchemy: Engaging the Heartlands

Dance Associate's influence extends like tendrils across the Newry, Mourne, and Down area, casting a spell that dances its way into the very soul of Northern Ireland and the border areas with the Republic of Ireland. Regular dance classes, workshops, performances, and events become threads woven into the societal tapestry, enhancing the very conditions of life and well-being for participants.

Innovative Pioneering: A Dance in Every Step

Anchored by flagship programmes like "Open Space" and "Step by Step Club," Dance Associate strides as a pioneer, engaging over 830 participants and more than 30 local artists. This is not merely a dance; it is a narrative written across the ages, spanning from the innocent age of 3 to the seasoned wisdom of 75, echoing across the verdant island of Ireland.

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Dance Associate Ltd - Annual Report and Financial Statements for the Period 06 April 2022 – 05 April 2023

Eternal Commitment: The Dance of Continuity

Remaining unwavering in its commitment, Dance Associate continues to develop and deliver programmes that resonate with its artistic vision and the successful artist-led company strategy. The mission is to sculpt high-quality programmes and projects for the public of Northern Ireland, nurturing both established and emerging artists, and captivating wider audiences.

Highlights of a Dance Associate Symphony: 2022-2023

5.2 Production, Performance & Touring

The "Open Space" concept, a canvas for diverse arts, saw the emergence of new works, including dance, singing, photography, fine art, and craft. The magnum opus, "Chapters," commissioned by Dance Associate and supported by Arts Council NI, unfurled its brilliance through three premieres – 'Allies,' 'Hoodies,' and 'Our Boys.'

5.3 Participation & Outreach

The dance studios transformed into a sanctuary, vibrant with classes and events guided by freelance artists. The outreach partnership programme, Neighbourhood Renewal Rural Communities, served as a beacon of support, resonating with the triumph of the Summer Scheme in 2022, supported by the Newry and Mourne Council and the Southern Health & Social Care Trust, Newry. Dance Associate’s Summer Scheme achieved even greater success in 2022.

5.4 Artistic Development

The "Step by Step Club" project, a journey into movement and choreographic exploration, led by artistic luminaries, provided a canvas for participants to paint their dance. Graduates found career development opportunities, and local artists found a haven in Dance Associate's embrace.

New movement and choreographic research/training as part of the “Step by Step Club” project led by various artists including Nina Dibb, Nicole Clinton, Rebekah Doyle in partnership with local communities – giving the opportunity to the participants to explore the body movement in their own choreographic process.

Graduates - placement career development opportunities including work placements from local schools, colleges, and national universities.

Dance Associate supported a range of local artists in dance, fine art and photography and videography projects providing them with the space and equipment hire in kind – building strong relationships for the future.

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Dance Associate Ltd - Annual Report and Financial Statements for the Period 06 April 2022 – 05 April 2023

5.5 Studio Programmes & Workshops

The Company’s regular class programmes and workshops including projects; “Step by Step”, “Open Space” and “Dance Impact” attracted an entry of 67 new participants from September 2022.

Dance became a language spoken by all, with regular class programmes and workshops, attracting new participants and delivering over 600 hours of diverse classes. From acrobatic arts to ballet, the studios echoed with the joyous rhythm of creative expression.

In this symphony of artistic expression, Dance Associate emerges not just as a company but as a cultural conductor, orchestrating a harmonious blend of creativity, community, and continuous evolution. The stages it graces become more than platforms; they are portals into a world where every step is a dance, and every dance is a celebration of life's boundless beauty.

Delivered over 20 hours of free dance classes and workshops to the public including children, young people, and adults; in contemporary dance, creative movement, ballroom styles experience for adults, belly dance, yoga, Pilates, jazz, line dancing and salsa classes.

Presented art exhibitions and window displays created by our participants and teachers.

In-Studio Euphoria: Connecting Lives Through Dance

Within the sacred confines of our in-studio classes, Dance Associate crafted an environment where people from all walks of life found connection. It was more than just a dance class; it was an invitation to be part of a community that nurtures physical activity, fosters skill development, and champions social well-being. Participants not only learned the language of dance but also became the living notes in the ever-evolving symphony of Dance Associate.

Throughout the year, our studios pulsated with the joyous rhythm of diverse classes. From acrobatic arts to ballet, musical theatre to singing, acting, and more, each class became a chapter in the unfolding story of creative expression. Here, amidst the mirrored walls and reverberating beats, individuals found not just an instructor but a guide, not just steps but a journey, and not just a dance but a celebration of the multifaceted beauty of life.

5.6 Nurturing Artistic Expression and Community Support

With a quarter of our income derived from philanthropic support, Dance Associate's partners play a pivotal role in our ability to deliver exceptional contemporary dance experiences. The generosity of individuals and foundations, channelled through our annual Programme and

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Dance Associate Ltd - Annual Report and Financial Statements for the Period 06 April 2022 – 05 April 2023

targeted funds, forms the lifeblood of our artistic essence. These contributions empower us to create and commission new works, taking our creations on tour across the UK and investing in the future of our art form through education, outreach, and training opportunities for emerging dancers.

In the face of challenges posed by Omicron and intermittent public health restrictions, our team adeptly seized in-season opportunities to reconnect with our devoted supporters as they resumed attending live performances.

Every year, we warmly invite our donor families, local business and friends to witness rehearsals at our studios in the lead-up to our seasons. These exclusive visits offer a unique insight into our creative process, allowing donors to immerse themselves in the studio space and witness the magic of our dancers in action. In a delightful deviation, 2022-2023 saw us hosting these special events in our studios for the first time, providing supporters with an intimate look into the development of work for the new project “Newry Youth Dance Company”. Virtual livestream connections also allowed us to bridge distances and connect with supporters worldwide.

A crowning achievement for our team, alongside the Board, and freelance artists, was the unveiling of the Arts Council NI Commissioning Fund. The funds that we dedicated to nurturing creativity by specifically supporting the commissioning of new choreography, music, costume, and design.

This support enabled us to commission and showcase new works “Chapters” by esteemed choreographers Suzannah McCreight ("Allies"), Emily McDonagh ("Hoodies"), and Michael McEvoy (“Our Boys”). We were thrilled to collaborate with composers Brendan Scullion, produced by Eoin Curran, Patrick Knipe, and Nick Boyle, and dancers Patrick Connolly, Adam Ashford, Oisin Dunne, Rhys Devlin, and Sean O’Neill.

Our Dancer’s circle stands as a pillar supporting the growth and development of our youth ensemble dancers, offering a holistic framework encompassing artistic, physical, and mental health support.

While on working on “Chapters”, we shared backstage fun, curtain call videos, and stories from the road, emphasising the importance of staying connected with our audiences. Your message is heartfelt and appreciative. Here's a refined version:

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Dance Associate Ltd - Annual Report and Financial Statements for the Period 06 April 2022 – 05 April 2023

We express our sincere appreciation to everyone who has shown dedication and commitment. Our deepest gratitude goes out to all our Partners for their generous support. Special recognition is extended to those who have chosen to remain anonymous, as their invaluable contributions empower Dance Associate to persist in creating, inspiring, and exploring new horizons in contemporary dance. Without your steadfast support, none of our achievements would be attainable!

6. Financial Review

6.1. Income and Expenditure

Income for the year ending 5[th] April 2023 totalled £54,803 (2022: £56,506). Expenditure for the year totalled £82,391 (2022: £71,408), resulting in a deficit of £27,588 (2022: deficit of £14,902).

Dance Associate Ltd received restricted income grants from 1 sources in 2023 totalling £5,001 (2022: £22,876). This grant was entirely spent in the period.

During the year, Dance Associate Ltd invested £2,095 (2022: £3,143) in fixed assets relating to the renovation of the premises and equipment. These investments have been classed as fixed asset additions and only included in the above expenditure figure as far as they have been depreciated.

6.2. Funds Position

At the end of the period, Dance Associate Ltd.'s reserve balance totalled £10,192 (2022: £37,780). All funds are unrestricted. Of this, Fixed Asset values represented £22,475 (2022: £28,537) leaving a negative Free Reserve balance of £12,283 (2022: positive balance of £9,243).

Restricted funds were fully spent in the year, leaving a restricted fund reserve of £Nil (2022: £Nil).

6.3. Reserves Policy

Our reserves policy is to hold 3 months' worth of non-variable expenditure as reserves. This expenditure is the unavoidable amounts needed to run the organisation (e.g., rent, utilities, etc). At the end of the period, this amounted to £3,230. Current Free Reserves, at negative £12,283, are below this level. The trustees continue to focus on bring this back to target over the medium term.

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Dance Associate Ltd - Annual Report and Financial Statements for the Period 06 April 2022 – 05 April 2023

7. Risk Management - Navigating the Rhythms of Uncertainty

The Board, in its diligent stewardship, has conducted a thorough assessment of the major risks to which Dance Associate is exposed. These risks encompass both operational and financial facets of the Company, and the Board is content that robust systems are in place to effectively mitigate these exposures. With an eye on the horizon, Dance Associate has meticulously crafted a business plan for the fiscal year 2022-2023. This plan meticulously follows the strategic development blueprint laid out for the period spanning 2020-2025, a roadmap that seeks to amplify the triumphs of preceding planning epochs.

Bolstered by the realisation of key strategic objectives, the company remains unwaveringly committed to its artist-led ethos. In the face of an increasingly challenging economic landscape, the aim is not only to sustain but also to thrive. The ambition extends to expanding the team and establishing a firm foothold for the company and its studios.

8. Staff - Cultivating Diversity and Equality

Dance Associate proudly upholds the principles of equality and diversity as an equal opportunities’ employer. Our equal opportunities policy is a beacon, guiding our commitment to fostering a workplace that cherishes diversity in all its forms. Aligned with equality legislation, the policy forms the bedrock of our approach to recruitment and employment practices.

While our overarching company policy is to embrace the employment of disabled persons wherever practical, it's worth noting that, as of the current reporting period, Dance Associate does not currently have any disabled members among its staff.

9. Fundraising Activities - Sourcing Support with Purpose

Dance Associate's fundraising activities are intricately woven into the provision of services aligned with its charitable objectives. Unlike some entities, Dance Associate opts not to enlist the services of external fundraising agencies. Instead, the company relies on the meaningful connections forged through its artistic endeavours to garner the support necessary for its continued growth and impact.

10. Political Donations - A Neutral Stance

Throughout the reporting period, Dance Associate maintained a neutral stance on political donations. No contributions were made in the form of political donations, ensuring that the company remains focused on its core mission and objectives without engaging in partisan affiliations.

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Dance Associate Ltd - Annual Report and Financial Statements for the Period 06 April 2022 – 05 April 2023

11. Additional Information - Compliant and Approved

This comprehensive report has been meticulously prepared in accordance with the special provisions outlined in part 15 of the Companies Act 2006. The Board of Directors, in a session held on the 26[th] of January 2024, gave their seal of approval to this report. Signed on Behalf of The Board By:

Name: Peter Shannon

Status: Chair

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