Charity registration number 1087260
Company registration number 04038031 (England and Wales)
THE DANCERS' DEVELOPMENT FUND
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
THE DANCERS' DEVELOPMENT FUND
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
F Maas
S Cochrane
(Appointed 27 September 2023)
R J Wilkinson
(Appointed 15 July 2024)
S A Brocard
(Appointed 1 November 2024)
L Hughes
(Appointed 20 September 2024)
Charity number
1087260
Company number
04038031 (England and Wales)
Registered office
82 St John Street
London
EC1M 4JN
Accountants
Beavis Morgan LLP
Accounts, Business and Tax Advisers
82 St John Street
London
EC1M 4JN
THE DANCERS' DEVELOPMENT FUND
CONTENTS
Page
Trustees' report
1 - 2
Accountants' report
3
Statement of financial activities
4
Balance sheet
5
Notes to the financial statements
6 - 10
THE DANCERS' DEVELOPMENT FUND
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 JULY 2024
- 1 -

The Trustees present their annual report and financial statements for the year ended 31 July 2024.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Memorandum, Articles of Association, the Companies Act 2006 and the Statement of Recommended Practice, "Accounting and Reporting by Charities", for charities applying FRS102, and the charities Act 2011.

Objectives and activities

The objective is to advance and promote the education of dancers and performance artists in the art and science of dance and movement and to promote the art and science of dance and movement to the general public. There has been no change in the policies adopted in furtherance of these objects during the year.

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Fund should undertake.

The Fund continues to pursue its aim of preparing and supporting young dancers and performers seeking to follow a career in the theatre by sponsoring young dance and performance companies to allow them to make use of available space at the fund's headquarters. Specifically the Fund has sought information on how dancers can still work within H&S boundaries when the space they work in is not ideally suited. The Fund further aims to bridge the gap between vocational training and professional practise and encourages dialogue between teachers, students and exercise specialists, to combat the additional strains on an ordinary body when intense dance and theatre tuition is undertaken. This year the Fund has also encouraged creative works to be explored within its premises and the results of this work have been explored as far afield as China.

The Fund's policy is to consult and discuss with employees, through unions, staff councils and at meetings, matters likely to affect employees' interests.

 

Information of matters of concern to employees is given through information bulletins and reports which seek to achieve a common awareness on the part of all employees of the financial and economic factors affecting the group's performance.

Disabled Persons

Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their employment within the Fund continues and that the appropriate training is arranged. It is the policy of the Fund that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees.

Achievements and performance

Having the use of a large building gives the Fund a physical and tangible presence and scope, and allows for safe distanced participation in workshops, classes and meetings. With its own site, the Fund has ample opportunity to fully encompass its objectives within a greater creative umbrella. The Fund has had a very busy year with many members coming under that creative umbrella and The Fund seeks to continue this work as it is so crucial that the experienced professionals engage in the development of the young creative. For those reasons the Fund continues to feel that having large premises are so very useful in aiding the charitable aims of the Fund.

 

Specific interest for space sharing has continued to develop with various local creative companies; further work to allow the DDF to be a satellite hub for many other creative groups. has continually progressed and will be given priority in the coming years. The work on the drawing board presently encompasses specific dance training projects, theatre rehearsal projects and creative movement projects.

 

Continuation of occupation of premises would give the flexibility for the Fund to immerse itself into its work for the continued progression of training for the young professional performer and, at the same time, would allow for its work to have potentially wider audiences. Library facilities continued to be made available, chronicling the history of musical theatre allowing scholars to appreciate the background behind the profession.

 

THE DANCERS' DEVELOPMENT FUND
TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 JULY 2024
- 2 -
Financial review

In the year to 31 July 2024, there was incoming resources of £15,961 (2023: £14,367) and a net decrease in total funds of £6,691 (2023: £959).

It is the policy of the Fund that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The Trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Fund’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year due to the guarantee of funds by Millennium Performing Arts Limited.

The Trustees have assessed the major risks to which the Fund is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Structure, governance and management
The Fund is governed by a Memorandum and Articles of Association incorporated on 20 July 2000 and amended by special resolution on 14 June 2001.

The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

 

G Cohen-Alloro
(Resigned 15 April 2024)
M Gregory
(Resigned 30 July 2024)
F Maas
S Cochrane
(Appointed 27 September 2023)
P Fairchild
(Resigned 31 October 2024)
R J Wilkinson
(Appointed 15 July 2024)
S A Brocard
(Appointed 1 November 2024)
L Hughes
(Appointed 20 September 2024)
None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

The Trustees who meet regularly throughout the year oversee the Fund. Trustees are appointed for an unspecified period, any vacancies being filled by the selection and appointment of suitable person by the Trustees.

F Maas is also a director of the following companies:

 

-Millennium Dance 2000 Limited

-Millennium Performing Arts Limited and

-Millennium Directorate Limited.

 

These companies are therefore related parties due to the mutual control.

The trustees' report has been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

 

The Trustees' report was approved by the Board of Trustees.

F Maas
Trustee
Dated: 20 January 2025
THE DANCERS' DEVELOPMENT FUND
CHARTERED ACCOUNTANTS' REPORT TO THE TRUSTEES ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF THE DANCERS' DEVELOPMENT FUND FOR THE YEAR ENDED 31 JULY 2024
- 3 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Dancers' Development Fund for the year ended 31 July 2024, set out on pages 4 to 10 from the charity's accounting records and from information and explanations that you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made to the charity's as a body, in accordance with the terms of our engagement letter.
It is your duty to ensure that the charity has kept adequate accounting records and to prepare statutory accounts that give a true and fair view under the Companies Act 2006. You consider that the charity is exempt from the statutory audit requirement for the year, and is not required to obtain an independent examiner's report.

We have not been instructed to carry out an audit or a review of the financial statements of The Dancers' Development Fund. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Beavis Morgan LLP
20 January 2025
Chartered Accountants
82 St John Street
London
EC1M 4JN
THE DANCERS' DEVELOPMENT FUND
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 JULY 2024
- 4 -
2024
2023
Notes
£
£
Income and endowments from:

Provision of facilities

2
12,000
14,000

Other income

4
3,961
367
Total income and endowments
15,961
14,367
Expenditure on:
Charitable activities

Provision of facilities

3
22,652
15,326
Total charitable expenditure
22,652
15,326
Net expenditure for the year/
Net movement in funds
(6,691)
(959)
Fund balances at 1 August 2023
6,917
7,876
Fund balances at 31 July 2024
226
6,917

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

THE DANCERS' DEVELOPMENT FUND
BALANCE SHEET
AS AT
31 JULY 2024
31 July 2024
- 5 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
9
12,097
136,112
Cash at bank and in hand
564
1
12,661
136,113
Creditors: amounts falling due within one year
10
(12,435)
(129,196)
Net current assets
226
6,917
Net assets excluding pension liability
226
6,917
The funds of the Fund
Unrestricted funds
226
6,917
226
6,917

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 July 2024.

The Trustees acknowledge their responsibilities for ensuring that the Fund keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 20 January 2025
F Maas
Trustee
Company registration number 04038031 (England and Wales)
THE DANCERS' DEVELOPMENT FUND
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 6 -
1
Accounting policies
Charity information

The Dancers' Development Fund is a Charitable Company, limited by guarantee, Registration No. 04038031 (England and Wales). The registered office is 82 St John Street, London, EC1M 4JN.

1.1
Accounting convention

The financial statements have been prepared in accordance with the Fund's 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) (effective 1 January 2019)" and Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic and Ireland." The Fund is a Public Benefit Entity as defined by FRS 102.

 

The Fund has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the Fund. Monetary amounts in these financial statements are rounded to the nearest £.

The accounts have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

These financial statements are prepared on the going concern basis. The Trustees have a reasonable expectation that the Fund will continue in operational existence for the foreseeable future, however, the Trustees are aware of certain material uncertainties which may cast doubt on the Fund's ability to continue as a going concern.

 

The Fund has net assets of £226 (2023: £6,917) at the balance sheet date, however the majority of the assets held are due from the Millennium Group, a group of companies under common control with the Fund.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The Fund does not currently have any restricted funds.

1.4
Incoming resources

Income generated by the provision of facilities represents rental income accounted for on an accruals basis.

Voluntary income is recognised when the Fund is legally entitled to it, the amounts can be measured reliably, and it is probable that income will be received.

1.5
Resources expended

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the Fund to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation cab be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

 

Rentals payable under operating leases, including any lease incentives received, are charged as an expense on a straight line basis over the term of the relevant lease.

THE DANCERS' DEVELOPMENT FUND
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 7 -
1.6
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The Fund has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’.

 

Financial instruments are recognised in the Fund's balance sheet when the Fund becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Fund’s contractual obligations expire or are discharged or cancelled.

2
Provision of facilities
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Rental income
12,000
14,000
THE DANCERS' DEVELOPMENT FUND
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 8 -
3
Expenditure on charitable activities
Provision of facilities
Provision of facilities
2024
2023
£
£
Direct costs

Premises

14,875
10,417

Management and administration

5,377
3,509
20,252
13,926
Share of support and governance costs (see note 6)
Support
2,400
1,400
22,652
15,326
Analysis by fund
Unrestricted funds
22,652
15,326
4

Other income

Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Voluntary income - donations
3,961
367
5
Trustees

None of the Trustees (or any persons connected with them) received any remuneration nor were reimbursed for any expenditure during the year.

6
Support costs
Support costs
Governance costs
2024
2023
Basis of allocation
£
£
£
£

 

 

Accountancy

2,400
-
2,400
1,400

Based on proportion of time spent on each charitable activity.

2,400
-
2,400
1,400
Analysed between
Charitable activities
2,400
-
2,400
1,400
THE DANCERS' DEVELOPMENT FUND
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 9 -
7
Employees
There were no employees during the year.
8
Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

9
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
12,097
136,112
10
Creditors: amounts falling due within one year
2024
2023
£
£
Bank overdrafts
9,435
14,498
Trade creditors
-
111,698
Accruals and deferred income
3,000
3,000
12,435
129,196
11
Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 August 2023
Incoming resources
Resources expended
At 31 July 2024
£
£
£
£
General funds
6,917
15,961
(22,652)
226
Previous year:
At 1 August 2022
Incoming resources
Resources expended
At 31 July 2023
£
£
£
£
General funds
7,876
14,367
(15,326)
6,917
12
Related party transactions

At the balance sheet date, the Fund due was £nil (2023: £26,715) from Millennium Directorate Limited and £12,000 (2023: £109,378) from Millennium Performing Arts Limited, companies in which F Maas is a director.

 

Rent amounting to £12,000 (2023: £14,000) was charged to Millennium Performing Arts Limited in the year.

 

THE DANCERS' DEVELOPMENT FUND
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 10 -
13
Operating lease commitments

At the reporting end date the Fund had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2024
2023
£
£
Within one year
-
1
Between two and five years
-
1
-
2
14
Control
During the current and prior year the Dancers' Development Fund was controlled by the Trustees.
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