The trustees present their report and financial statements for the period ended 31 March 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) 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)".
All or Nothing is Scotland’s leading aerial dance company, performing, teaching and developing talent. Pioneering aerial arts since 2006, we seek to embed aerial arts within the cultural landscape of Scotland as an artform that is accessible to as many people as possible.
Our Vision is Aerial for All
Our Mission is To amaze, inspire and challenge people through aerial dance theatre.
Our Values are the principles that underpin how we work:
Accessible – we put access at the heart of everything we do, aiming to create an open, flexible and generous environment for all aspects of our work.
Ambitious - we strive for the highest quality of work. We foster our ambition through continued creativity, collaboration and challenge.
Professional - Our work is professional and we are trusted to be friendly and reliable in the delivery of our activity and with our stakeholders.
Our Strategic Aims – what we do:
To create breath-taking, visually exciting aerial dance performances
We make and perform work of the highest artistic and technical standards, with highly trained collaborators
We present and tour aerial dance at all scales across Scotland, UK and internationally, from large-scale outdoor aerial dance spectacles to intimate performances
We create aerial dance for screen
To widen participation in aerial dance
We deliver an extensive programme of inclusive aerial classes for adults and children across Scotland
We provide accessible opportunities for adults and children to perform in and experience participatory aerial dance productions
We work with partners to deliver outreach programmes that engage a wide range of people and communities in aerial dance
To develop, challenge and extend aerial dance as an artform in Scotland
We teach aerial dance skills to professional artists
We engage, develop and maintain skilled aerial dance artists in Scotland
We help to grow the infrastructure, advocating for skills and facilities to make aerial dance possible
To introduce and grow audiences for aerial dance
We raise and promote the company’s profile, telling stories and building communities
We advocate for the increased visibility and credibility of aerial dance as an artform in Scotland
Overview
Alongside a busy programme, 2024/25 was also a year of consolidation and future planning. We submitted an application to Creative Scotland for Multi Year Funding from April 2025, and longer term planning – subject to the outcome of that application – was a priority.
Our participation and engagement projects and our regular class programme continued to be very busy, though our professional performance work reduced a little while we waited for the outcome of this major bid.
Unfortunately we lost one of our community venues as the result of a fire in December at Astro Gymnastics in Livingston; see page 4 for more information on the impact of this. Our regular classes were in high demand, however, with several having waiting lists, especially for the youth and junior sections. Our participation projects in partnership with SCORE Scotland in Edinburgh, Creatability in Greenock and Lift Off Leith continued.
Fundraising work was a priority, and we continued to receive specialist support for our applications to trusts and foundations as well as Creative Scotland. We were successful for the second time in securing funding towards our core costs from the Garfield Weston Foundation and are delighted to continue and build this relationship. In January we were successful in securing Multi Year Funding from Creative Scotland as outlined above. We are delighted to be receiving regular funding from Creative Scotland for the first time, and particularly to be the first aerial arts focused organisation in Scotland to be funded in this way.
To achieve our aims we have focused our activities across the following strands: Artistic, Participation and Professional Development. All of this contributes towards Advocacy for the artform.
Highlights included:
Artistic Strand
The Swings – part performance, part installation, it includes a duo aerial dance performance on our larger than life giant 5m high swing set. The piece is aimed at children and families, and includes an opportunity to try out the swings after the show. Originally commissioned by Imaginate – Scotland’s national development organisation for children’s and young people’s dance and theatre - and the Merchant City Festival in Glasgow, the production has been in our repertoire for four years, and in 2024/25 it was presented at the Lowry as part of We Invented the Weekend Festival in Salford Quays. The show was performed 8 times and was seen by over 6000 people. The performances were free to attend. The production was well-received by audiences and critics.
Windows
A new indoor theatre work for mid-scale venues, Windows is influenced by Avril Paton’s painting of a tenement block, Windows in the West, stories such as Hitchcock’s Rear Window, and Nan Goldin’s photography. Combining aerial, dance and contemporary circus, we were awarded Creative Scotland funding to research and develop ideas in summer 2023. In 2024/25 we continued to develop the work, with some specific research on the window frame aerial apparatus, whilst we awaited funding outcomes. The aim is to bring the work to production in 2026.
Participation
Our Recreational Class Programme continues successfully despite the challenges of the fire in our Livingston venue in the latter half of the year. At the start of the year we began teaching at 5 venues across 4 local authority areas, working with participants from 5 to 80+.
We have been fortunate to find a new venue in Livingston and have begun teaching aerial at the 9th West Lothian District Scout Hall in Murieston.
Throughout 2024-25 the 5 class programmes and the further education programmes described above attracted 525 students on a weekly basis.
We taught in further education for the Scottish Institute of Theatre, Dance, Film & TV (formerly MGA Academy), developing an aerial curriculum for the professional commercial dance students, teaching 40 students across all 3 year groups. This will not continue into 25/26 as the organisation has closed.
Some funding from the Youth Arts Fund (Youth Link Scotland and Creative Scotland Collaboration) that was awarded last year was carried forward into the first quarter of this year, allowing some activity to continue with Creatability in Greenock, and a new project, Lift Off Leith.
We continued our collaboration with SCORE Scotland at WHALE in Wester Hailes in a smaller capacity than previous years due to funding. We All Fly Together has had two committed groups attending across the year, and across 2024/25 we worked with 32 young people over the 12 months. The aim of the project is to bring aerial to those who would not be able to access it easily, and working with SCORE has helped us reach young people who are potentially at risk of racial inequality, as well as being based in a socio-economically deprived area. We also collaborated with the Beacon Arts Centre in Greenock on Aerial Dance Creatability, run in partnership with Waterbaby Dance. The programme is aimed at children and young people with autism, neurodivergence and/or physical disabilities. We have been part of this since 2016, and after trying a couple of different formats, we have settled on a holiday intensives model. During 2024/25 we reached 24 young people in a summer holiday activity.
Lift Off Leith introduced aerial dance, free to young people who live around our base at Out of the Blue Drill Hall. Due to demand from Pilmeny Development Project we continued to work with their girls’ group and holiday playscheme, with the young people coming into Out of the Blue Drill hall to attend. We are still fundraising to keep working with the groups from Pilmeny.
National Centre for Circus Arts, Centre for Advanced Training, is a UK-wide scheme for talented young circus artists who receive support and funding to develop their knowledge and experience in circus arts. Two of our young students successfully applied, and we are collaborating with Aerial Art House, also based in Edinburgh, to deliver the Scottish arm of this scheme. It has also allowed us to network with other aerial and circus organisations from around the UK.
Professional development
We continued the peer-to-peer support project for Aerial Dance Leaders that was funded originally by the Four Nations International Fund – an arts grants scheme supported by the arts funding bodies from the four nations of the UK. The project involves our Director, Jennifer Paterson, Chantal McCormick of Fidget Feet in Ireland and Lindsey Butcher of Gravity & Levity in Brighton.
Our partnership with Dance Base sees All or Nothing curating a programme of one-off workshops and masterclasses for those working in the aerial sector. This has continued throughout 2024/25. We are excited by this partnership and pleased to have the opportunity to provide workshops and continued professional development for aerialists.
Advocacy
We continue to be involved with sector organisations such as the Federation of Scottish Theatre, Articulation, Edinburgh Performing Arts Development and Scene Stirling to keep abreast of developments in the sector as well as helping increase visibility of aerial dance within the sector.
Our Director, Jennifer Paterson, is on the Board of Articulation, having just stepped down from chair. Articulation is the sector development body to support and develop circus, physical performance and outdoor arts in Scotland, in which All or Nothing play a role.
All or Nothing hold reserves to safeguard the running costs of the company, to support specific artistic and engagement priorities, and to enable us to address any unexpected financial challenges caused by illness, injuries or other challenges. During the past 4 years, business continuity during the pandemic and the recovery have of course been the main priorities.
The reserves have been crucial in the past financial year as 2 of our partner organisations, Astro Gymnastics and the Scottish Institute have gone into liquidation, leaving debts totalling £10981.27. This has been written off as we do not expect to recover the debt.
Despite all the challenges of recent years, the organisation still held stable, spending the designated reserves and maintaining activty. Our Artistic Director, Engagement Manager, and Admin Officer formed our core staff team during the year. Other roles remained on freelance contracts including class tutors and performers and others who are contracted on a project-by-project basis.
In the financial year under review, we were successful in securing funding towards core running costs from the Garfield Weston Foundation and, as outlined, from Creative Scotland’s Multi-Year Funding programme from 2025-28. We continue to fundraise with applications to trust and foundations and other public funding ongoing.
Reserves Policy
Trustees have reviewed the need for reserves and aim to achieve a minimum level of free reserves of £50,000, which represents six months' overheads and winding up costs.
As a result, at the end of financial year 2024/25 our financial out-turn included unrestricted funds of £66,861 (2024 - £76,561). Of this total free Unrestricted funds (i.e. excluding amounts designated for specific purposes) total £46,623 (2024 - £60,000). Following careful consideration of the needs of the company, the challenges of current fundraising, the writing off of debt due to 2 partner organisations going into liquidation, the full amount of free unrestricted reserves will be kept towards winding up costs.
This leaves us with free reserves close to £50,000 which is our target figure as defined in our Reserves Policy.
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. Trustees have put in place a Risk Register which is reviewed annually. This analyses the business risks faced by the company and outlines the procedures in place to mitigate the risks identified in the Register.
This work identified two major risks. The first is the risk of not achieving fundraising targets and therefore the sustainability of the organisation being threatened. The second is the risk of the scale of the programme over-stretching the small staff team. Trustees are carefully monitoring both risks, and we have contracted a fundraising specialist to support us with fundraising to reduce the risk of a lack of success in that area.
Future Plans
In January 2025 we were successful in being awarded Multi Year Funding from Creative Scotland. This has secured our artistic and organisational development for the next 3 years. As 2025 has progressed, our programme is now focused on delivering on our current Business Plan with exciting plans to develop all aspects of the organisation, including our long-term organisational and financial stability. We have now completed the process of expanding the core staff team, recruiting a permanent Executive Producer and Marketing Officer in June 2025 and October 2025 respectively.
Artistically, the aim to develop an ensemble of aerial performers to work on and perform the company’s creative work has been progressed, we have now contracted 4 artists for the first of 3 years of this activity. We are developing the Windows project (see page 2.) for touring to indoor mid-scale venues and will begin research into a new work for outdoors. We also build flexibility into our schedule so we can respond to commissions for our performance work.
In our engagement work, we are continuing to work with young people in communities including Wester Hailes in Edinburgh, and Greenock, with visits to Dunoon in Argyll as well. We are actively fundraising for these projects as well as developing plans for the Lift Off Leith project, in collaboration with Pilmeny Development Project.
We are also continuing our talent development programme with the success of our Youth Performance Groups and linking to opportunities with the National Centre for Circus in London.
The organisation
All or Nothing is a small organisation delivering a large programme. We have a small salaried team – at the time of writing comprising our Artistic Director, an Executive Producer, and a part-time Engagement Manager, Admin Officer and Marketing Officer – and a large team of experienced freelancers including artists, teachers, administrators and technical staff. Our work has been supported entirely by project funding in recent years, and we have had limited ability to employ permanent staff as a result, with freelance specialists undertaking much of the work. Freelancers remain central to the company, but Creative Scotland’s Multi Year Funding is enabling us to offer greater security for a number of key posts as outlined, and will impact on our long-term sustainability, building All or Nothing organisationally and artistically.
We are based at Out of the Blue Drill Hall, a cultural and social enterprise in Edinburgh, where we have an office and separate storage space for equipment, set and costume.
We benefit from our relationship with the team at Out of the Blue as well as the other tenants in the building, and it is an extremely creative environment in which to be based. During 2024/25 we continued to work with various tenant creative organisations on shared opportunities, discussing potential future collaborations as well as ad-hoc support and guidance between us all.
The members of the current board, led by chair Anne Gallacher, have all been in post for between 2 and 5 years. We are currently in a process of board recruitment to expand the knowledge and skills on the board, and to begin to consider succession planning. Work to refresh our governing document has progressed and will be completed next year.
Despite all the challenges of the past few years, including unpredictable events such as the pandemic and the recent fire at our venue in Livingston, the All or Nothing team – both employees and freelancers – have continued to work tirelessly and with huge commitment and flexibility to keep the show on the road. The trustees would like to extend their thanks to everyone whose huge efforts have kept the company vibrant, creative and visible throughout the year.
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
The trustees, who are also the directors for the purpose of company law, and who served during the period and up to the date of signature of the financial statements were:
As set out in the Articles of Association the Chair of the Trustees is nominated by vote of the Board of Trustees. New Trustees are approached by the Artistic Director or Chair with approval from the rest of the Board, or alternatively respond to a recruitment call out for additional Board members.
Induction and training of new trustees
New trustees are briefed on their legal obligations under charity and company law. This includes the OSCR guidance on public benefit, content of the Memorandum and Articles of Association, decision-making processes, the business plan and recent financial performance of the charity.
Organisational structure
The board of trustees, which can have up to 12 members, administers the charity. The board meets 4 times a year. There are currently no subcommittees but time-limited working groups are established when particular needs arise that require closer scrutiny and support from trustees. An Artistic Director is appointed by the trustees to manage the day-to-day operations of the charity. To facilitate effective operations the Artistic Director has delegated authority, within terms of delegation approved by the trustees, for operational matters including finance, employment and artistic performance related activity. From June 2025 an Executive Producer is now also employed as part of the Senior Leadership Team to manage the day to day operations with the Artistic Director.
The trustees' report was approved by the Board of Trustees.
I report on the financial statements of the charity for the period ended 31 March 2025, which are set out on pages 8 to 19.
The charity's trustees (who are also directors of the company for the purposes of company law) are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006, and they consider that the audit requirement of Regulation 10(1)(a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under section 44(1)(c) of the Act and to state whether particular matters have come to our attention.
My examination is carried out in accordance with Regulation 11 of the 2006 Accounts Regulations. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeks explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently I do not express an audit opinion on the view given by the financial statements.
In the course of my examination, no matter has come to my attention:
to keep accounting records in accordance with section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and
to prepare financial statements which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations;
to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
The statement of financial activities includes all gains and losses recognised in the period.
All income and expenditure derive from continuing activities.
All or Nothing Dance and Aerial Theatre is a private company limited by guarantee incorporated in Scotland. The registered office is Studio G17, Out of The Blue Drill Hall, 36-38 Dalmeny Street, Edinburgh, EH6 8RG.
The financial statements have been prepared in accordance with the charity's [governing document], the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) 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)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity 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 charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
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.
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 are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.
Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
The charity 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 charity's balance sheet when the charity 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, 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, including creditors and bank 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.
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Swings
Youth Arts Access
Direct costs
Rent and Rates
Insurance
Repairs
Postage and stationery
Telephone
Travelling expenses
Sundry expenses
Subscriptions
Bookkeeping costs
During the year the trustee Jennifer Paterson received £31,635 (2024 - £30,168) in respect of services provided as Artistic Director, teaching fees and reimbursement of expenses.
The average monthly number of employees during the period was: