REGISTERED COMPANY NUMBER: SC294643 (Scotland)

REGISTERED CHARITY NUMBER: SC033239

Report of the Trustees and

Financial Statements

for the Year Ended 31 March 2025

for

Indepen-dance (Scotland)

Page

Reference and Administrative Details

1

Report of the Trustees

2

to

7

Report of the Independent Auditors

8

to

10

Statement of Financial Activities

11

Balance Sheet

12

Cash Flow Statement

13

Notes to the Cash Flow Statement

14

Notes to the Financial Statements

15

to

29

TRUSTEES

Ms M Brackenridge Chair

Mrs I Tweedie Treasurer

Mrs C J Moscardini

S Levy (resigned 17.1.25)

Mrs E Mutso

D Flavell

Ms B Desai (resigned 22.5.24)

Mrs N Lombard

S Douglas-Scott (appointed 4.12.24)

P Seaman (appointed 4.12.24)

REGISTERED OFFICE

159-161 James Street

Glasgow

G40 1BS

REGISTERED COMPANY NUMBER

SC294643 (Scotland)

REGISTERED CHARITY NUMBER

SC033239

AUDITORS

Bannerman Johnstone Maclay

Chartered Accountants and Registered Auditor

213 St Vincent Street

Glasgow

G2 5QY

BANKERS

Bank of Scotland

56/60 Kilmarnock Road

Glasgow

G41 3NN

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of 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).

The financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended), the Companies Act 2006, and the Memorandum and Articles of Association.

OBJECTIVES AND ACTIVITIES

Objectives and aims

The objects for which the company is established are:-

-To advance the education and further the health of persons with learning disabilities and their carers by providing access to dance and creative movement. In pursuance of this the association shall seek:

-To identify, share and promote best practice in disabled access to and participation in dance and creative movement; in the community.

-To provide training and mentoring opportunities for those who wish to work with people with learning disabilities in the field of dance and creative movement.

The Vision, Mission and Values of Indepen-dance are as follows:

Our mission is:

To create opportunities for disabled and non-disabled people and carers to enjoy, express and fulfil their potential through dance.

Our artistic vision is:

The creation of a dance community in Scotland based on an artistic approach to inclusion with the mission to create opportunities for disabled people, and their carers, to enjoy and fulfil their potential through dance.

Our vision is to create an inclusive society where people of all abilities have equal access to and participation in dance, enriching lives and promoting well-being.

Our values embrace diversity recognising that every individual has the right to be treated with dignity and respect and the right to be listened to and included.

Integration

- To promote integration rather than segregation.

- To avoid discrimination on any grounds; to offer its facilities and services to as wide a range of people as possible; and to ensure that everyone's views are fully represented.

Aspiration and Potential

- To place the primary focus on the well-being, development and aspirations of all people with whom it works.

- To promote social confidence and self-awareness, and to encourage the fulfilment of potential.

Individuality and Integrity

- To pay full regard to individuality, integrity, humanity, right to privacy, and wishes at any time.

Encouragement

- As far as possible encourage participation in decisions which affect participation.

- To encourage involvement in activities in which participants are engaged, within limits of safety and good practice.

Honesty and Balance

- In all its dealings, to be honest and truthful; to allow full access to information; and to ensure that its processes are transparent.

- Following the principles of the United Nations Convention, to encourage people to exercise their rights to achieve a proper balance between their rights and responsibilities.

Significant activities

In order to achieve our aims, we have provided the following activities:

- 6 weekly online activities including 4 x creative movement and dance classes, a hybrid chair-based yoga followed by a cuppa and chat, sessions, and Saturday morning Wake up with Wils. All classes were delivered online using the digital platform Zoom and were free to all participants.

- 20 weekly in person creative movement classes for disabled children, young people and adults were delivered in fully accessible spaces across the City of Glasgow.

- Total number of classes delivered from April 24 - Mar 25 was 1,118.

- 12 Monthly Saturday Extravaganza which involves a hybrid Wake up With Wils session followed by Lego Play and Art Activities. 4 x members group meetings were incorporated into these sessions.

- Our staff team have had regular professional development opportunities that include 2 x weekly Inclusive professional dance technique classes throughout the year as well as annual obligatory training in Child and Adult Protection, first aid refresher, health and safety updates and fire safety briefings.

- 1 staff member completed a Mental Health First Aider Course adding to the other staff members with this qualification.

- Throughout the year our staff members attended four inclusive dance practice training days led by International Guests.

- We facilitated a Dance Leaders Course for our disabled members with people receiving a SVQ qualification on completion.

- One dance residencies for inclusive youth dance company members during the half term school breaks in October and four one off events supporting respite for parents and carers.

- Staff and members took part in an Annual Alternative Burns Night to raise funds for Indepen-dance. Also a number of staff and board members participated in the Kiltwalk to raise funds.

- Our Community Performance groups including our Adult Performance Company, our Inclusive Youth Group and Evolve Performance Group have performed throughout the year at a variety of events including our own Summer and Winter sharing Events, Go Dance, Destinations - YDance's Youth Dance Platform, our own fundraising events, Scottish Ballet's Healing Arts Scotland Event in collaboration with the World Health Organisation (WHO).

- A selection of our Youth Company delivered workshops at the Solas Festival and Fleetwood Moves Festival, England and Horizon's Youth Festival in Inverness.

- Our professional inclusive touring company have performed our children's production Four Go Wild in Wellies at a variety of venues in Nuremberg, New York, Norway and Scotland.

- We hosted and produced our 5th International Inclusive Dance Festival - Gathered Together - at Tramway in September 2024. This included a variety of performances, workshops and discussions from a wide variety of local, national and international guests. The festival concluded with a ceilidh.

- Railing and permanent outdoor seating area have been installed in our outdoor space at our office.

- Our Artistic Director shared the Companies work at the Busan Cultural Conference South Korea.

- Throughout the year our outreach workshops in additional support needs schools and other third sector organisations have steadily increased.

- We have attended a variety of information Days and Conference Events throughout the year.

- the achievements of the Company in establishing a professional inclusive dance company that offers real opportunities for a career in dance are recognised at home and abroad and the artistic director is regularly invited to events at home and abroad to share the experience of the development of Indepen-dance to help develop similar activity in other locations.

Our annual core programme of activities has provided regular activity for the disabled members to participant in a creative activity throughout the year, where they become lifelong members and join a thriving social network. We have continued to seek opportunities to provide bespoke professional training, career development and employment opportunities.

STRATEGIC REPORT

Achievement and performance

Charitable activities

Over the last twelve months, Indepen-dance has continued to provide a full programme of weekly creative movement classes to a wide range of disabled children, young people and adults. The members of our inclusive youth dance company, inclusive adult performance company, Evolve dance group and our Professional Inclusive Small Ensemble have participated in dance residencies and live performances events across the UK and the wider world.

Indepen-dance has provided a selection of training courses throughout the year to inspire and develop the skills of its staff group and the wider Scottish Dance Community. These training events have supported the staff's professional development as well as supporting their well being.

Indepen-dance has continued to provide regular placements for students from colleges and University. This also included an Internship from Glasgow University.

Financial review

Financial position

After movements in Restricted and Designated funds we have a small surplus for the year which will increase our reserves and which is very welcome.

The level of Unrestricted funds is at an acceptable level and the Designated funds will cover future depreciation costs (net of capital grant release) and some maintenance of the building.

Principal funding sources

During the year Indepen-dance continued to receive funding from a diverse range of sources.

Our major funder is Creative Scotland, which together with other public sector funding makes up 32% of total income. During the year, Creative Scotland announced their new 3 year funding awards we are delighted to be able to report that that we have again been successful in being awarded 3 year funding.

Grant income from other organisations this year was 32% of total income, and earned income increased to 36% with 3 overseas tours.

Reserves policy

The board has set a target of 3 months running costs, which has been calculated at £96k, and are satisfied that the balance in the General Unrestricted Fund of £181,028 at 31 March 2025 meets this target.

Principal risks and uncertainties

The principal risks are:

Financial - that we do not secure sufficient funding and continue to have adequate reserves;

Staffing - that we fail to retain key staff.

Financial and risk management objectives and policies

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. A risk register is updated annually and reviewed by the board.

Future plans

The charity will continue with its' core programme of classes, outreach sessions and projects and expand where possible. We listen to our members' voices through the regular members group meetings.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and is constituted as a company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of new trustees

The recruitment and appointment of new trustees is conducted by the board, and supported by senior management with reference to the skills required. The board are formally elected at the AGM.

The directors of the company are also charity trustees for the purposes of charity law and under the company's Articles are known as members of the Management Committee. Under the requirements of the Memorandum and Articles of Association the members of the Management Committee are elected to serve for a period of three years after which they must be re-elected at the next Annual General Meeting.

Decision making

The day to day running of the charity is delegated by the board to the Creative Director.

Induction and training of new trustees

Trustees are inducted into the organisation by the chair of the board and the chief executive. Training opportunities are regularly shared with the board. We are members of Culture and Business Scotland who offer regular training opportunities for board members.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Indepen-dance (Scotland) for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

-	select suitable accounting policies and then apply them consistently;

-	observe the methods and principles in the Charity SORP;

-	make judgements and estimates that are reasonable and prudent;

-	state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to 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.

In so far as the trustees are aware:

-	there is no relevant audit information of which the charitable company's auditors are unaware; and

-	the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.

AUDITORS

The auditors, Bannerman Johnstone Maclay, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 9 October 2025 and signed on the board's behalf by:

Ms M Brackenridge - Trustee

Opinion

We have audited the financial statements of Indepen-dance (Scotland) (the 'charitable company') for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the charitable company's affairs as at 31 March 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and Regulation 8 of the Charities Accounts (Scotland) Regulations 2006.

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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company 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 charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are 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 Report of the Independent Auditors 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 this gives rise to a material misstatement in the financial statements themselves. 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.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Report of the Trustees has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

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

We have nothing to report in respect of the following matters where the Companies Act 2006 and the Charities Accounts (Scotland) Regulations 2006 (as amended) requires us to report to you if, in our opinion:

-	adequate and proper accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of trustees' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, 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 charitable company'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 charitable company or to cease operations, or have no realistic alternative but to do so.

Our 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 a Report of the Independent Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- We obtained an understanding of the legal and regulatory frameworks applicable to the charitable company and the sector in which it operates. We determined that the following laws and regulations were the most significant: the Companies Act 2006, the Charities and Trustees Investment (Scotland) Act 2005 and the Charity SORP.

- We obtained an understanding of how the charitable company is complying with those legal and regulatory frameworks by making enquires to the management.

- We assessed the susceptibility of the charitable company's financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the engagement team included:

- identifying and assessing the design and effectiveness of controls management has in place to prevent and detect fraud;

- understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process;

- challenging assumptions and judgements made by management in its significant accounting estimates;

- identifying and testing journal entries, in particular any journal entries posted with unusual accounting combinations; and

- assessing the extent of compliance with relevant laws and regulations.

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 Report of the Independent Auditors.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, and to the charitable company's trustees, as a body, in accordance with Regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charitable company's members and the trustees those matters we are required to state to them in an auditors' 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 the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Douglas Paton BSc CA (Senior Statutory Auditor)

for and on behalf of Bannerman Johnstone Maclay

Chartered Accountants and Registered Auditor

Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006

213 St Vincent Street

Glasgow

G2 5QY

9 October 2025

31.3.25

31.3.24

Unrestricted

Restricted

Total

Total

funds

funds

funds

funds

Notes

£

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

2

61,924

-

61,924

61,479

Charitable activities

4

Integrated dance development activities

166,712

429,335

596,047

503,559

Investment income

3

895

-

895

756

Other income

5

-

-

-

1,744

Total

229,531

429,335

658,866

567,538

EXPENDITURE ON

Raising funds

6

2,712

1,729

4,441

14,116

Charitable activities

7

Integrated dance development activities

208,497

418,747

627,244

583,182

Total

211,209

420,476

631,685

597,298

NET INCOME/(EXPENDITURE)

18,322

8,859

27,181

(29,760

)

RECONCILIATION OF FUNDS

Total funds brought forward

162,706

42,130

204,836

234,596

TOTAL FUNDS CARRIED FORWARD

181,028

50,989

232,017

204,836

31.3.25

31.3.24

Unrestricted

Restricted

Total

Total

funds

funds

funds

funds

Notes

£

£

£

£

FIXED ASSETS

Tangible assets

13

52,041

20,687

72,728

78,890

CURRENT ASSETS

Debtors

14

20,584

-

20,584

27,238

Cash at bank and in hand

136,450

77,181

213,631

150,130

157,034

77,181

234,215

177,368

CREDITORS

Amounts falling due within one year

15

(28,047

)

(24,652

)

(52,699

)

(25,742

)

NET CURRENT ASSETS

128,987

52,529

181,516

151,626

TOTAL ASSETS LESS CURRENT LIABILITIES

181,028

73,216

254,244

230,516

CREDITORS

Amounts falling due after more than one year

16

-

(22,227

)

(22,227

)

(25,680

)

NET ASSETS

181,028

50,989

232,017

204,836

FUNDS

18

Unrestricted funds

181,028

162,706

Restricted funds

50,989

42,130

TOTAL FUNDS

232,017

204,836

The financial statements were approved by the Board of Trustees and authorised for issue on 9 October 2025 and were signed on its behalf by:

M Brackenridge - Trustee

Cash flows from operating activities

Cash generated from operations

1

69,719

(38,680

)

Net cash provided by/(used in) operating activities

69,719

(38,680

)

Cash flows from investing activities

Purchase of tangible fixed assets

(7,113

)

(2,870

)

Interest received

895

756

Net cash used in investing activities

(6,218

)

(2,114

)

Change in cash and cash equivalents in the reporting period

63,501

(40,794

)

Cash and cash equivalents at the beginning of the reporting period

150,130

190,924

Cash and cash equivalents at the end of the reporting period

213,631

150,130

1.	RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES

31.3.25

31.3.24

£

£

Net income/(expenditure) for the reporting period (as per the Statement of Financial Activities)

27,181

(29,760

)

Adjustments for:

Depreciation charges

13,275

10,546

Interest received

(895

)

(756

)

Decrease/(increase) in debtors

6,654

(5,388

)

Increase/(decrease) in creditors

23,504

(13,322

)

Net cash provided by/(used in) operations

69,719

(38,680

)

2.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.24

Cash flow

At 31.3.25

£

£

£

Net cash

Cash at bank and in hand

150,130

63,501

213,631

150,130

63,501

213,631

Total

150,130

63,501

213,631

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Indepen-dance (Scotland) is a registered charity with the Office of the Scottish Charity Regulator and a private company limited by guarantee incorporated in Scotland under the Companies Act 2006. The company number, address of the charity's registered office and the nature of its principal activities are set out in the Trustees' Report.

The reporting currency of the financial statements is GBP. No level of rounding has been applied in the financial statements.

Income

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

Government grants are recognised in income only when the performance-related conditions are met.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Leasehold improvements

-

over the period of the lease

Plant and machinery

-

33% on cost and 25% on cost

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Donated services

Donated services are recognised as income when there is entitlement, the economic benefits are probable, and the value to the charity can be measured reliably. Donated services are measured and included in accounts on the basis of the value to the charity, that being the amount the charity would pay in the open market.

Financial instruments

The charitable company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charitable company's balance sheet when the charitable company 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 certain debtors and cash and bank balances, are initially measured at transaction price including transactions 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 certain creditors and loans 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.

2.	DONATIONS AND LEGACIES

31.3.25

31.3.24

£

£

Donations

56,360

33,335

Gift aid

-

2,000

Theatre tax relief

-

2,881

Sponsorship

1,000

-

Fundraising events

700

19,571

Other income

3,864

3,692

61,924

61,479

3.	INVESTMENT INCOME

31.3.25

31.3.24

£

£

Deposit account interest

895

756

4.	INCOME FROM CHARITABLE ACTIVITIES

31.3.25

31.3.24

Integrated

dance

development

Total

activities

activities

£

£

Membership fees

1,822

2,320

Class and workshop income

152,589

89,701

Grants

441,636

404,038

Production fees

-

7,500

596,047

503,559

Grants received, included in the above, are as follows:

31.3.25

31.3.24

£

£

Creative Scotland

139,333

120,856

The National Lottery Community Fund

29,745

30,713

Commonweal Fund

-

1,109

People's Postcode Lottery

-

22,521

DWP: Access to Work

18,561

17,478

BBC Children in Need

15,000

15,000

Bank of Scotland Foundation

40,250

40,250

Shared Care Scotland, The Better Breaks programme

15,386

33,914

Garfield Weston Foundation

30,000

-

Agnes Hunter Trust

4,000

-

Glasgow Life

63,309

63,309

The William Syson Foundation

-

4,000

The RS Macdonald Charitable Trust

15,000

15,000

Trefoil House

-

2,500

Community Mental Health and Wellbeing Fund GCVS

-

9,900

William Grant Foundation

21,000

20,000

Glasgow City Council - Business Boost

2,499

4,998

Glasgow Credit Union

-

250

Glasgow City Council - Area Partnership

-

990

Scottish Commission for People with Learning Difficulties

-

1,250

Baily Thomas Charitable Fund

9,102

-

St. James's Place Charitable Foundation

10,000

-

The Austin and Hope Pilkington Trust

1,000

-

The Percy Bilton Charity

750

-

Impact Funding Partners

2,643

-

Glasgow Council for the Voluntary Sector - The Glasgow Wellbeing Fund

18,595

-

Fringe Society - Made in Scotland Onward Touring

5,463

-

441,636

404,038

5.	OTHER INCOME

31.3.25

31.3.24

£

£

Internship funds

-

1,744

6.	RAISING FUNDS

Raising donations and legacies

31.3.25

31.3.24

£

£

Fundraising costs

4,441

14,116

7.	CHARITABLE ACTIVITIES COSTS

Support

Direct

costs (see

Costs

note 8)

Totals

£

£

£

Integrated dance development activities

620,104

7,140

627,244

8.	SUPPORT COSTS

Governance

costs

£

Integrated dance development activities

7,140

Support costs, included in the above, are as follows:

Governance costs

31.3.25

31.3.24

Integrated

dance

development

Total

activities

activities

£

£

Audit fees

7,140

4,410

9.	NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

31.3.25

31.3.24

£

£

Depreciation - owned assets

13,275

10,546