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ANNUAL REPORT 2013

SYDNEY DANCE COMPANY ANNUAL REPORT 2013

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CONTENTS 3. CHAIR’S REPORT 4. EXECUTIVE DIRECTOR’S REPORT 5. ARTISTIC DIRECTOR’S REPORT 6. 2013 REPERTOIRE 7. 2013 PERFORMANCE SCHEDULE 8. COLLABORATORS 9. THE COMPANY 10. PARTNERS 12. SPONSORS & GOVERNMENT 14. PERFORMANCE AGAINST THE GOALS OF THE STRATEGIC PLAN 17. KEY PERFORMANCE INDICATORS 19. CORPORATE GOVERNANCE 21. FINANCIAL STATEMENTS

Pictured: Sydney Dance Company, Les Illuminations (2013). Photo by Peter Greig Cover: Sydney Dance Company, Cacti, De Novo (2013). Photo by Peter Greig

SYDNEY DANCE COMPANY ANNUAL REPORT 2013

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CHAIR’S REPORT 2013 was another exciting year for Sydney Dance Company. The Company delivered strong financial results, premiered three new works, toured to seven countries and made impressive progress in the first full year of implementation of our education program, which was designed to reach young audiences and develop in them a lifelong appreciation for contemporary dance. Over the past several years Sydney Dance Company has time and again demonstrated the inherently collaborative nature of the artform of dance in new and innovative ways. In 2013 the Company worked with both the Australian Chamber Orchestra and a chamber ensemble from Sydney Symphony as well as songstress Katie Noonan and two guest choreographers. We were also pleased to have been able to work with Kaldor Public Art Projects on 13 Rooms. This diversity and range of artistic collaboration is fast becoming a hallmark of Sydney Dance Company under Rafael Bonachela’s directorship and he is to be commended for it. 2013 also saw the Company embark on one of its most ambitious international touring programs. We returned to China for the first time since 2010, made a welcome return to South America and debuted in Russia, performing at the prestigious Stanislavsky Theatre as part of the DanceInversion Festival. It was wonderful to hear reports of standing ovations and genuinely enthusiastic words from our diplomatic missions about the impact of Sydney Dance Company on the profile of Australian arts abroad. The Company has finished the year with a surplus and continues to increase its sustainability through growing its financial reserves.

The Board was delighted to welcome Kiera Grant as one of its members and I would like to thank all of the 2013 Directors of Sydney Dance Company for their commitment of time, passion, expertise and financial support. I took up the role of Chair at the Company’s Annual General Meeting in April upon the resignation of Julian Knights. I particularly want to thank Julian for the significant contribution that he, along with Lizanne Knights, have made to Sydney Dance Company. His leadership ensured that I took up the mantle of Chair with the Company in a strengthening position and an optimistic future. I am pleased to report that in 2013 the Company has built on that legacy. We achieved our three key goals of Artistic Innovation, Audience Growth and Increased Sustainability, entered into exciting artistic collaborations and extended the international reach and awareness of Sydney Dance Company. We thank the Commonwealth Government and the NSW Government for their on-going support via the Australia Council for the Arts and Arts NSW. We also thank our corporate sponsors and partners. I would like to record my thanks for the tireless efforts of the management and staff of the Company and all that they have undertaken throughout the year. A particular thank you also goes to the many people who support Sydney Dance Company philanthropically. Your support makes a very real difference to the projects and performances the Company can deliver, to the audiences, students and young people that the Company engages with and to the dancers themselves. Andrew Messenger Chair

SYDNEY DANCE COMPANY ANNUAL REPORT 2013

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EXECUTIVE DIRECTOR’S REPORT Without a doubt, 2013 will be remembered for the scale of international touring that the Company undertook, and the great many newfound relationships around the world that this touring has engendered.

Anne Dunn Portrait: Ben Symons

It is one of the greatest delights of such touring to be able to spend time with young dancers in other countries and for our dancers to share their skills and knowledge. There is a real sense of what it means to be cultural ambassadors for Australia and those genuine skills and cultural exchanges round out the excitement of touring in a very meaningful way. Indeed the role of the dancers in the Company was a hallmark of much of 2013. Not only did they grace the stages beautifully and win awards for their performances, they also undertook the delivery of education workshops and schools programs with equal energy. Sydney Dance Company has been guided in the structure of our education and outreach programs via the great knowledge and skill of the Education Advisory Group and my sincere thanks goes to all of them for their efforts, consideration and time. In 2013 our education programs included our first ever primary schools performance, as well as secondary school matinees, workshops, artist intensives for young dancers and school holiday dance programs for students aged 8-18. In 2013 Sydney Dance Company reached over 7400 school students. 2013 marked the first audition process for Sydney Dance Company’s inaugural Pre-Professional Year intake. With over 260 applicants for 25 places it was an auspicious start for a new program and we are looking with excitement to see the course unfold in 2014. A great deal of work has been put into constructing a unique and valuable curriculum which will maximise student’s learning and exposure to the world of professional contemporary dance. The course is a wonderful step in the development of Sydney Dance Company and strengthens the Company’s commitment to the development of the art form. In addition to those auditions the Company also conducted dancer auditions, which were once again highly subscribed with 264 applicants. One of the innovative programs piloted in 2013 was Sydney Dance Company’s first crowd funding campaign. The Keep Holly Dancing campaign was constructed and delivered in partnership with The Works and has resulted in Holly Doyle joining the Company as a full time dancer.

SYDNEY DANCE COMPANY ANNUAL REPORT 2013

Over the course of 2013 Sydney Dance Company was very proud to be nominated for two Helpmann Awards and to be awarded Australian Dance Awards for Most Outstanding Choreography for Rafael Bonachela’s 2 One Another, Most Outstanding Female Dancer for Charmene Yap and Most Outstanding Performance by a Company. Additionally the Company was delighted to receive two Greenroom Awards for 2 One Another including Best Ensemble and Best Female Dancer for Natalie Allen. A sincere thank you to the many people who have generously given their time and expertise to Sydney Dance Company. Volunteers work with us in many capacities from supporting our administration team, to organising events and functions and supplying valuable expertise and guidance to Management and the Board. Our Ambassadors, Dance Noir Committee and our Education Advisory Group have each given time, care and a huge amount of experience and expertise. Together they have enabled the Company to continue to grow and achieve. The talented team at Sydney Dance Company continue to impress and inspire me with their enthusiasm, creativity and hard work which contributes enormously to the success of the business and the performances. Thanks must go to Chair Andrew Messenger and the entire Board of Sydney Dance Company for their support, work and leadership across 2013. I would like to take this opportunity to thank Julian Knights for his leadership as Chair of Sydney Dance Company (Sydney Dance Company Board 2006 – 2013, Chair April 2008 – April 2013) across a period of change and development in the organisation. His guidance has been much appreciated. The many collaborators which Sydney Dance Company has worked with across 2013, both on and off the stage, have created a sense of a healthy industry which is at its best and most satisfying when the capacities of multiple organisations are brought together to create magic for audiences. It never fails to thrill me to sit in a theatre, watching the dancers on stage, and participate in the shared responses they generate from audiences. Thank you to our audiences, your support and appreciation is the backbone of all we do. Anne Dunn Executive Director

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ARTISTIC DIRECTOR’S REPORT When I reflect on 2013 I am reminded of just how much we were able to squeeze into one year, a testament to the hard work and artistry of our dancers and the wonderful team that supports them.

Rafael Bonachela Portrait: Ben Symons

We started the year with a challenging triple bill De Novo. It was thrilling to present Alexander Ekman’s Cacti – a clever and irreverent commentary on contemporary dance and our desire to unpick and understand art at all costs. Alexander is a rising star with commissions from some of the most iconic dance companies and when I saw this work I knew Australian audiences would love it. I was also delighted to restage Fanatic by the talented South Australian choreographer Larissa McGowan. Fanatic with its dry wit and powerful movement was an audience hit in its first performances at the Spring Dance Festival in 2012 and it was wonderful to have an opportunity to bring it back and showcase it to a larger audience. De Novo also marked the world premiere of my work Emergence, with a commissioned score by Nick Wales and singer / songwriter Sarah Blasko and costumes by Dion Lee. Sarah is such a distinctive and emotive vocalist and such a poet with her beautiful lyrics – I knew we would have a rich well to draw from in making a work together with Nick Wales who had composed the original music for 2 One Another. The music and the dance evolved together, with ideas being improvised in our studios taking inspiration from the concept that complex systems and patterns can arise out of a multiplicity of relatively simple interactions. It was a delight also to work with Dion Lee, a master of construction and innovation in fashion design. I was thrilled to be able to realise the choreography for the artists Jennifer Allora and Guillermo Calzadilla’s Revolving Door as part of 13 Rooms brought to Sydney by Kaldor Public Art Projects. Sydney Dance Company supplemented by a rotating cast of over 60 local dance students performed in Revolving Door, forming a line inspired by unison gestures, protest marches and chorus lines swiftly moving the audience around the room. We were honoured to be part of such a groundbreaking exhibition of performance art. We toured to Adelaide, Darwin and Alice Springs with 2 One Another. In other national touring the Company was also reunited with the virtuosi of the Australian Chamber Orchestra to perform Project Rameau in Brisbane and Canberra. These performances with live orchestra are such a thrill for the dancers and bring a special dimension to the movement performance – I really do want to thank the entire Australian Chamber Orchestra for this special collaboration.

SYDNEY DANCE COMPANY ANNUAL REPORT 2013

Along the way and in our capital city performances we engaged young audiences through our DancED program with workshops, masterclasses, behind the scenes sneak peeks and school matinee performances. We held our first primary school matinee in Sydney and it was a delight to see their enthusiasm and enjoyment – and as dance takes its place in the National Curriculum we look forward to finding more ways to grow and enrich this engagement with contemporary dance to ever broader groups of students. In August we premiered Les Illuminations as a response to the centenary of Benjamin Britten’s birth. For this program we paired the youthful exuberance of Britten’s Simple Symphony with the darkness and intensity of his later work Les Illuminations. The staging on a catwalk in the Sydney Opera House studio with vocalist Katie Noonan and musicians from Sydney Symphony Orchestra provided audiences with an exhilarating level of proximity. I was thrilled to invite Toni Maticevski to design the evocative costumes and Benjamin Cisterne contributed a stunning lighting design. I was immensely proud to take our 16 outstanding dancers on an extensive international tour performing 2 One Another in six countries starting with Peru (where we helped to celebrate the 50th Anniversary of Peru-Australian relations), Ecuador, Colombia, Mexico, West Coast USA and Russia. We were fortunate to perform in some amazing festivals including the Festival Cervantino in Guanajuato and DanceInversion in Moscow. Treading the boards in the prestigious Stanislavsky Theatre is an honour that I’m sure the dancers will always treasure and as a choreographer there could be no greater excitement than to see my work realised on such a stage. Finally we rounded out the year with a tour of Project Rameau (this time in a non-orchestral version) to Kunming in China as part of the inaugural Yang Liping Dance Festival. I am fortunate to have had the support of the Sydney Dance Company Board of Directors and would particularly like to acknowledge Julian Knights who stepped down as Chair in April of 2013. The support of the Board and Chair Andrew Messenger for our ambitions for 2013 was a vital part of our success of the year. I am honoured as always to be part of this creative and talented company and I am incredibly excited about what is to come as we take on our 45th Anniversary year in 2014. Rafael Bonachela Artistic Director 5


2013 REPERTOIRE Emergence, De Novo (2013). Photo by Peter Greig Fanatic, De Novo (2013). Photo by Jessica Bialek Cacti, De Novo (2013). Photo by Peter Greig 13 Rooms (2013). Photo by Jamie North courtesy Kaldor Public Art Projects 2 One Another (2012). Photo by Ken Butti Project Rameau (2013). Photo by Justine Walpole Les Illuminations (2013). Photo by Peter Greig

JENNIFER ALLORA AND GUILLERMO CALZADILLA’S REVOLVING DOOR AS PART OF KALDOR PUBLIC ART PROJECTS 13 ROOMS CHOREOGRAPHY RAFAEL BONACHELA

EMERGENCE, DE NOVO CHOREOGRAPHY RAFAEL BONACHELA

2 ONE ANOTHER CHOREOGRAPHY RAFAEL BONACHELA

FANATIC, DE NOVO CHOREOGRAPHY LARISSA MCGOWAN

PROJECT RAMEAU CHOREOGRAPHY RAFAEL BONACHELA

CACTI, DE NOVO CHOREOGRAPHY ALEXANDER EKMAN

LES ILLUMINATIONS CHOREOGRAPHY RAFAEL BONACHELA

SYDNEY DANCE COMPANY ANNUAL REPORT 2013

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PERFORMANCE SCHEDULE 1 – 23 March

Sydney Theatre, Sydney NSW

18 performances

De Novo

11 – 21 April

Pier 2/3 Walsh Bay, Sydney NSW

11 days of performances

Kaldor Public Art Projects 13 Rooms

8 – 11 May

Her Majesty’s Theatre, Adelaide SA

6 performances

2 One Another

15 May

Araluen Arts Centre, Alice Springs NT

1 performance

2 One Another

18 May

Darwin Entertainment Centre, Darwin NT

1 performance

2 One Another

11 – 13 July

QPAC Concert Hall, Brisbane QLD

5 performances

Project Rameau

27 – 31 August

Sydney Opera House Concert Hall, Sydney NSW

9 performances

Les Illuminations

10 September

The Lawler, Southbank Theatre, Melbourne VIC

1 performance

Les Illuminations excerpt

12 – 14 September

Canberra Theatre Centre, Canberra ACT

4 performances

Project Rameau

25 September

Gran Teatro Nacional, Lima Peru

1 performance

2 One Another

28 September

Teatro Sánchez Aguilar, Guayaquill Ecuador

1 performance

2 One Another

4 – 5 October

Teatro Mayor, Bogota Colombia

2 performances

2 One Another

10 – 11 October

Autioro del Estado, Guanajuato Mexico

2 performances

2 One Another

16 October

Irvine Barclay Theatre, Irvine California USA

1 performance

2 One Another

19 October

Mandeville Auditorium, San Diego California USA

1 performance

2 One Another

23 October

Arlene Schnitzer Concert 1 performance Hall, Portland Oregon USA

2 One Another

27 – 28 October

Stanislavsky Theatre, Moscow Russia

2 performances

2 One Another

11 – 14 December

Kunming Theatre, Kunming China

3 performances

Project Rameau (non-orchestral version)

TOTAL 70 Performances ** TOTAL 14 Overseas Performances TOTAL 56 Australian Performances ** TOTAL 38 NSW Performances ** *This schedule includes all performances including school matinees **includes 11 days of Kaldor performances (1 day counted as 1 performance) SYDNEY DANCE COMPANY ANNUAL REPORT 2013

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COLLABORATORS DE NOVO

EMERGENCE CHOREOGRAPHY Rafael Bonachela MUSIC Nick Wales and Sarah Blasko COSTUME DESIGN Dion Lee

KALDOR PUBLIC ART PROJECTS 13 ROOMS

COSTUME DESIGN CONSULTANT Peter Simon Phillips

REVOLVING DOOR

DANCE DIRECTOR Amy Hollingsworth

13 Rooms Curated by Hans Ulrich Obrist and Klaus Biesenbach

STAGE & LIGHTING Benjamin Cisterne

ARTISTS Jennifer Allora and Guillermo Calzadilla

DANCE DIRECTOR Amy Hollingsworth

CHOREOGRAPHY Rafael Bonachela

FANATIC CHOREOGRAPHY Larissa McGowan CONCEPT Larissa McGowan, Sam Haren, Steve Mayhew

PERFORMERS Sydney Dance Company and Full Time Students from Brent Street Studios

2 ONE ANOTHER

DRAMATURG Sam Haren

CHOREOGRAPHER Rafael Bonachela with the Dancers of Sydney Dance Company

SOUND CONSTRUCTION Steve Mayhew

PRODUCTION & COSTUME DESIGN Tony Assness

LIGHTING Benjamin Cisterne

LIGHTING DESIGN Benjamin Cisterne

DANCE DIRECTOR Amy Hollingsworth

MUSIC Original Music Composition: Nick Wales Original Music Performed by: Violin: Veronique Serret Viola, Violin, Keyboards and Electronics: Nick Wales Percussion, Marimba: Bree van Reyk Drum Kit, Percussion: Jared Underwood Drum Kit: Evan Manell Cello: Julian Thompson Voices: SDC dancers, Justin Shoulder and Jeff Duff Additional Recording: Jared Underwood

CACTI CHOREOGRAPHY AND COSTUMES Alexander Ekman STAGE DESIGN Alexander Ekman and Thomas Visser LIGHTING DESIGN Thomas Visser LYRICS Spenser Theberge REPETITEUR Nina Botkay MUSICIANS Veronique Serret James Eccles Geoffrey Gartner Mirabai Peart

COSTUME REALISATION Fiona Holley

PROJECT RAMEAU Presented in Collaboration with Australian Chamber Orchestra AUSTRALIAN CHAMBER ORCHESTRA ARTISTIC DIRECTOR Richard Tognetti SYDNEY DANCE COMPANY ARTISTIC DIRECTOR Rafael Bonachela MUSIC Jean-Philippe Rameau, Antonio Vivaldi, Johann Sebastian Bach CHOREOGRAPHY Rafael Bonachela LIGHTING & SET DESIGN Benjamin Cisterne COSTUME DESIGN Rafael Bonachela COSTUME REALISATION Fiona Holley MUSIC ARRANGEMENT Graham Sadler, Vi Lim King, Jennifer Powell DANCE DIRECTOR Amy Hollingsworth MUSICIANS Australian Chamber Orchestra SOUND ENGINEERS Adam Iuston, Hayley Forward, Simon Lear

LES ILLUMINATIONS CHOREOGRAPHY Rafael Bonachela MUSIC Benjamin Britten VOCALS Katie Noonan CONDUCTOR Roland Peelman COSTUMES Toni Maticevski STAGE AND LIGHTING Benjamin Cisterne DANCE DIRECTOR Amy Hollingsworth SYDNEY SYMPHONY MUSICIANS FIRST VIOLINS Fiona Ziegler Assistant Concertmaster Jennifer Booth Leone Ziegler Julia Broom* Vivien Jeffery* SECOND VIOLINS Emma Jezek Assistant Principal Shuti Huang Claire Herrick* Alexandra D’Elia* VIOLAS Sandro Costantino Felicity Tsai Rosemary Curtin* CELLOS Leah Lynn Assistant Principal David Wickham Eleanor Betts* DOUBLE BASSES David Murray Josef Bisits* *Guest Musician

TEXT Samuel Webster SOUND DESIGN Adam Iuston

SYDNEY DANCE COMPANY ANNUAL REPORT 2013

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THE COMPANY BOARD OF DIRECTORS CHAIR, Julian Knights (resigned April 2013) CHAIR, Andrew Messenger (appointed April 2013) Pamela Bartlett Peter Brownie Jean-Marc Carriol Judy Crawford Jane Freudenstein Kiera Grant (appointed March 2013) Karen Moses Naseema Sparks Greta Thomas Carla Zampatti AC PATRON Darcey Bussell CBE AMBASSADORS Bee Hopkins Jules Maxwell

MANAGEMENT ARTISTIC DIRECTOR Rafael Bonachela EXECUTIVE DIRECTOR Anne Dunn DEPUTY EXECUTIVE DIRECTOR Sean Radcliffe PRODUCER Dominic Chang EXECUTIVE ASSISTANT Kerry Thompson ACCOUNTANT Francesca Hendricks BUSINESS CONSULTANT Bruce Cutler DEVELOPMENT DIRECTOR Janine Collins BUSINESS DEVELOPMENT MANAGER Paquita Wiesner (from March 2013) CORPORATE PARTNERSHIPS MANAGER Elicia Pappalardo (until March 2013)

DEVELOPMENT COORDINATOR Joshua Forward PHILANTHROPY ASSISTANT Carina Martin MARKETING MANAGER Georgia Malone MARKETING ASSISTANT Chontelle Clark PUBLICIST Julie Clark RESIDENT MULTIMEDIA ARTIST Peter Greig EDUCATION COORDINATOR Katherine Duhigg Clare Goetze (from October 2013) EDUCATION & OUTREACH FACILITATOR Fiona Jopp (until April 2013)

THE COMPANY DANCE DIRECTOR Amy Hollingsworth 2013 COMPANY DANCERS Natalie Allen (until March 2013) Chris Aubrey Juliette Barton Lachlan Bell Thomas Bradley Chen Wen Alisha Coon Andrew Crawford Holly Doyle Janessa Dufty Cass Mortimer Eipper Fiona Jopp (from April 2013) Bernard Knauer Keian Langdon (until March 2013) Alana Sargent Jesse Scales Todd Sutherland Jessica Thompson Sam Young-Wright (secondee until March 2013) Charmene Yap

PHILANTHROPY MANAGER Michelle Forsyth

PRODUCTION TECHNICAL DIRECTOR Adam Iuston STAGE MANAGER Simon Turner PRODUCTION TECHNICIAN Tony McCoy (from April 2013) PRODUCTION ASSISTANT Gwen Laroche (Casual)

CONTRACTORS HEAD MECHANIST John Shedden HEAD ELECTRICIAN Renae Kenward (until April 2013) PRODUCTION SECONDEE Tom Stanton (until May 2013) WARDROBE MANAGER Fiona Holley COSTUME MAKERS Marianne Close Sheryl Pilkinton Osha Shealey Kia Snell Phillip Toole WARDROBE SUPERVISOR Rebecca Jones Steph Wigens PROP MAKER Ellisha James

DANCE STUDIOS DIRECTOR, DANCE CLASSES Ramon Doringo STUDIO MANAGER Tamara Wheeler OFFICE ASSISTANT Narelle Howarth

PRE-PROFESSIONAL YEAR COURSE DIRECTOR Linda Gamblin

VOLUNTEERS Alana Koutoulas Carina Martin Davina Norman Catherine Wyburn Byron Yee

SYDNEY DANCE COMPANY ANNUAL REPORT 2013

DANCE NOIR COMMITTEE CHAIR, Pamela Bartlett CHAIR, Peter Reeve Hilary Burton Mark Cavanagh Debbie Coffey Jean-Marc Carriol Judy Crawford Vitek Czernuszyn Alexa Haslingden Tina Johnson Terry Kaljo Paul Kelly Marita Leuver Jane McCallum Chris Paxton Karin Upton-Baker

EDUCATION ADVISORY COMMITTEE Helen Cameron Julie Dyson Clare Goetze (until October 2013) Lesley Graham John Mullins (from October 2013) Ruth Osborne Susan Rix

DANCERS TREATMENT & CARE COMPANY DOCTOR Michael Berger SPORT & EXERCISE PHYSICIAN Dr. Ken Crichton PHYSIOTHERAPISTS Laura Hillenius (until December 2013) Marko Becejski

COMPANY TEACHERS Emily Amisano Anton Craig Bary Andrea Briody Kristina Chan Joshua Consandine Linda Gamblin Catherine Goss Alister Grant (accompanist) Lucas Jervies Gillian Mcleod Timothy Ohl Darren Spowart 9


SYDNEY DANCE COMPANY PARTNERS Sydney Dance Company’s Partners provide the vital support we need to commission new works, share them with audiences around Australia and overseas, grow our Education Program and support emerging talent.

WE WISH TO THANK ALL OUR PARTNERS 2013 COMMISSION EMERGENCE Julian & Lizanne Knights Andrew Messenger Carla Zampatti Foundation Jillian Broadbent AO & Olev Rahn Naomi Milgrom AO & John Kaldor AM The Waypoint Group Mike & Annie Cannon-Brookes Jules Maxwell Beau Neilson & Jeffrey Simpson Erin Ostadal & the late Billy Ostadal Gretel Packer Bob Rose AM & Margaret Rose AM Paul Brady & Christine Yip Janice Burke Mr Charles Curran AC & Mrs Eva Curran Fivex Commercial Property Kiera Grant Belinda Hutchinson AM & Roger Massy-Greene Katie Lahey & Robert Marriott Randal Marsh Natascha & Matthew Milsom Donna Player David Slessar OBE & Alice Ilich Annalise Thomas Cynthia & Mike Whelan Anonymous 1 Nigel & Edwina Renton Anonymous 4 With special thanks to Tony Bilson, Mandy Foley-Quin, Bob Guth & Stephen Thatcher

SYDNEY DANCE COMPANY ANNUAL REPORT 2013

2013 TOURING PRODUCTION

2013 INTERNATIONAL TOURING

2 ONE ANOTHER (2012) Julian & Lizanne Knights

Andrew Messenger Rebel Penfold-Russell OAM

Pam & Doug Bartlett Judy & Robin Crawford Jules Maxwell Anonymous 2

Jonathan Dempsey Karen Moses

Janice Burke David Mathlin Leslie & Philip Stern Annalise Thomas Anonymous 1 The Hon Peter Collins AM QC & Jennine Leonarder-Collins Sarah Hue-Williams Charles & Joey Hue-Williams Anonymous 1 --2013 A YEAR ON THE WHARF Mary Zuber Les Kennedy Julian & Lizanne Knights Ian Wallace & Kay Freedman Betty Amsden OAM Pam & Doug Bartlett Min Li Chong Richard & Jane Freudenstein David and Georgie Gall Allen Iu Jules Maxwell Ivan & Jane Nisbet Anonymous 1

Robert Albert AO & Elizabeth Albert Peter & Liz Brownie James & Jacqui Erskine Evelyn Hawkins Key Foundation Julian & Lizanne Knights Macquarie Group Foundation The Alexandra & Lloyd Martin Family Foundation Alden Toevs & Judi Wolf Sam & Judy Weiss Anonymous 3 Hourigan International Tony Jones Gail O’Brien Naseema Sparks Di Vertigan Anonymous 2 Sue Hoopman Elias & Jana Juanas John & Ursula Moore Dr Gary Nicholls Stephen Shrimpton Anonymous 2 With special thanks to Gemma Cunningham, Amando Percuoco, Chris Taylor and Stephen Thatcher. ---

EDUCATION PROGRAM

Robert & Carmel Clark Dr & Mrs N Ibrahim Paul Kelly Samantha Macansh

Tim Fairfax AC

Dr Alice Murkies Dr Gary Nicholls The Teresa Johnson Ballet School

Karen Moses Christina Scala & David Studdy Anonymous 1

Julian & Lizanne Knights The Alexandra & Lloyd Martin Family Foundation

Pam & Doug Bartlett Paul Brady & Christine Yip EQV Group

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Heather & Marshall Farrer Diane Grady AM Kiera Grant Macquarie Group Foundation Sandra McCullagh Servcorp Mike Thompson Anonymous 1 Sarah Brasch Dr Catherine Brown-Watt & Mr Derek Watt Guy Thompson Carla Zampatti Foundation Paul Bedbrook Robert & Carmel Clark Vanessa Koltai Mark & Jennifer Royle Sketch Evolution Anonymous 2 ---

ANNUAL PARTNER PROGRAM PLATINUM PARTNER Robert Albert AO & Elizabeth Albert Julian & Lizanne Knights Andrew Messenger STAR PARTNER Carrie and Steve Bellotti Judy Crawford Ian & Min Darling Jonathan Dempsey Richard & Jane Freudenstein Kiera Grant Andrew & Emma Gray Key Foundation Robert Maple-Brown AO & Susan Maple-Brown Gretel Packer Rebel Penfold-Russell OAM John Prescott AC & Jennifer Prescott John Taberner & Grant Lang Turnbull Foundation Carla Zampatti Foundation Anonymous 1 PRINCIPAL PARTNER Pam & Doug Bartlett Janice Burke Jillian Broadbent AO & Olev Rahn Andrew & Cathy Cameron Jean-Marc & Kirsten Carriol Peter Chadwick Crawford Foundation Hon. Mrs Ashley Dawson-Damer Susie Dickson & Martin Dickson AM James & Jacqui Erskine Sarah & Robby Ingham Melinda Conrad & David Jones Marnie Lewis-Millar & Bruce Millar Alexandra Martin in memory of Lloyd Martin AM

SYDNEY DANCE COMPANY ANNUAL REPORT 2013

Jules Maxwell Sandra McCullagh Karen Moses Peter Reeve & Jaycen Fletcher Naseema Sparks Victoria Taylor Emma Zuber Anonymous 1 LEADING PARTNER John & Susan Blue Mr & Mrs MH Carriol Mrs David Clarke Bradford Gorman & Dean Fontana David Jonas & Desmon Du Plessis Suellen & Ron Enestrom Mark Hassell D Hazelton & L Anderson Elias & Jana Juanas David and Skye Leckie Amanda Love Macquarie Group Foundation Douglas Marcotte The Marshall Family Foundation Carina Martin John & Ursula Moore Morna Seres & Ian Hill Ezekiel Solomon AM Leslie & Philip Stern Anonymous 4 DANCE PARTNER Lenore & Ross Adamson Antoinette Albert Dr Richard Balanson and Ms Dawn Talbot Anita & Luca Belgiorno-Nettis Foundation Marco Belgiorno-Zegna AM & Angela Belgiorno-Zegna Christine Bishop Jane Bridge Christine & Robert Camping Jane Douglass AM Keith Findlay Ian Galloway & Linda Treadwell Girgensohn Foundation Ray Hansen Ben Harlow Fraser Hopkins Joey, Charles & Sarah Hue-Williams Michael Ihlein Tina & Mark Johnson Gabrielle Iwanow Brian Ladd & Brian Kelly OneVentures Greeba Pritchard Edward & Nanette Robson Carolyn and Philip Rossi Stephen Shrimpton Howard & Mary Tanner Greta Thomas Gudrun Willcocks Anonymous 8

BARRE PARTNER Antony Bullimore Jacqui Burton Min Li Chong Chris Cuthbert Rosemary Forbes & Ian Hocking Amber Gooley MR and SE Harte Diane Ipkendanz Nicky Joye Virginia Judge Josephine Key & Ian Breden Peter & Janette Miller Selene Ng Gwen & John O’Brien Stephen O’Rourke Prof Nerida Smith David Thomson Donna Woodhill Anonymous 7 PARTNER Dr Cynthia à Beckett John Armati OAM and Kate Armati Stephen Chase Rob Coombe Dr Michelle Deaker Tanya Diesel Suzanne Dwyer Marilyn Forbes Helen Forrester Rachael Haggett Louise Hamshere The Teresa Johnson Ballet School Deirdre Kirby Margaret Lederman Margaret O’Halloran Heather Sedman Norman R Scott Mary Shackman Jillian Segal AM Leigh Small Anonymous 9 --2013 DANCE NOIR Sydney Dance Company would like to thank the 2013 Dance Noir committee: Co-Chairs Pam Bartlett & Peter Reeve, Hilary Burton, Mark Cavanagh, Debbie Coffey, Jean-Marc Carriol, Judy Crawford, Vitek Czernuszyn, Alexa Haslingden, Tina Johnson, Terry Kaljo, Paul Kelly, Marita Leuver, Jane McCallum, Chris Paxton, and Karin Upton-Baker; and the many guests and auction participants for their generous support.

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SPONSORS Sydney Dance Company acknowledges the valuable contribution of its sponsors, supporters and partners and thanks them for their commitment and generosity.

OFFICIAL AIRLINE SPONSOR

MAJOR SPONSORS

ASSOCIATE SPONSORS

SEASON SUPPORTERS

SUPPORTERS

EDUCATION SUPPORTERS

GOVERNMENT FUNDING

SYDNEY DANCE COMPANY ANNUAL REPORT 2013

American Tourister Australia & NZ Bunda Contemporary Hotels David Hook Wines Ernst and Young Pages Santa Vittoria Urban Purveyors Group

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Sydney Dance Company, 2 One Another (2012). Photo by Ken Butti

SYDNEY DANCE COMPANY ANNUAL REPORT 2013

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PERFORMANCE AGAINST THE GOALS OF THE STRATEGIC PLAN The management and programming of Sydney Dance Company in 2013 was geared towards achieving the three key stated goals of the Strategic Plan: Artistic Innovation and Excellence; Audience Growth; and Financial Stability. The key performance indicators were designed to measure our performance in achieving these goals.

ARTISTIC INNOVATION AND EXCELLENCE Our goal is to produce dance performances of the highest artistic standard. In doing so we attract audiences nationally, our reputation grows and we receive national and international presentation invitations. Under the artistic leadership of the resident choreographer and Artistic Director, Rafael Bonachela, the Company presented two world premiere seasons in 2013 (De Novo and Les Illuminations) in addition to the performance work realising the concept for artists Jennifer Allora and Guillermo Calzadilla’s Revolving Door as part of Kaldor Public Art Projects 13 Rooms. De Novo featured the works of three choreographers; Rafael Bonachela’s Emergence, Alexander Ekman’s Australian premiere with Cacti and Larissa McGowan’s Fanatic. The Company toured existing repertoire of 2 One Another through Central Australia from Adelaide to Darwin and then on a significant international tour taking in Peru, Ecuador, Colombia, the Cervantino Festival in Guanajuato, Mexico, the West Coast of the USA and the prestigious DanceInversion Festival in Moscow. Project Rameau was toured in conjunction with the Australian Chamber Orchestra to Brisbane and Canberra and as a stand-alone dance piece without orchestra to Southern China. There was a great diversity to the style of works presented within the 2013 program and positive public sentiment of the works was acknowledged through the awarding of 3 National Dance Awards including Best Choreography and Best Performance by a Company as well as the very high satisfaction rates recorded by post-performance surveys. The programs received critical acclaim both in Australia and abroad.

SYDNEY DANCE COMPANY ANNUAL REPORT 2013

Artistic Innovation and Excellence is not determined exclusively in the choreographic style and nature of the works, but also by the quality with which the works are presented and performed. Quality production elements and performance at the highest levels are goals that Sydney Dance Company strives for in all performances. Sydney Dance Company has maintained a full time ensemble of 16 exceptional dancers across the year with additional dancers being brought on for specific projects. Sydney Dance Company is the flagship Australian contemporary dance company and adheres to rigorous selection and maintenance procedures for its dancers. Open auditions are held every year and dancer contracts are annual and full time. Maintenance such as technique class, physiotherapy and pilates are provided to all dancers in order to ensure their capabilities are maximised and they are able to perform at their peak. Dancers were provided with training in workshop delivery, as well as being given the opportunity to choreograph short works to be performed as part of our annual Dance Noir fundraising event as a means of developing additional skills within the art form. In seeking to develop the art form of contemporary dance, Sydney Dance Company undertakes a range of activities designed to further the skills of dancers, staff and dance industry practitioners. In 2013 the Company hosted 19 student dancers from tertiary institutions around Australia and New Zealand on secondments. In addition, a professional development intensive for 28 dancers was held. The intensive focussed on choreographic tasks as well as giving dancers an opportunity to taste what life as a full time dancer is about. It also provided the opportunity for the Company dancers to teach and deliver technique classes thus providing a professional development opportunity for them as well. Sydney Dance Company is the convenor of the annual Dance Managers meeting, which aims to build networks throughout the industry and specifically between the Major Performing Arts Companies and the funded small and medium scale companies. This meeting is designed to share information, find collective solutions to common challenges and create a space for industry discussion.

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In seeking to gauge our Artistic Vibrancy and ensure relevance to our audiences, post performance surveys were undertaken regularly and the media responses to our performances were analysed. There is an overwhelmingly positive response to the quality of performances that Sydney Dance Company has delivered in 2013. A selection of media reviews can be found on our website and audience surveys demonstrate 96% of survey respondents were satisfied or very satisfied with the performance they attended. Media responses to Sydney Dance Company are universally supportive of the quality of the dancers’ performances.

‘SYDNEY DANCE COMPANY HAS NEVER LOOKED STRONGER, SEXIER OR MORE PLAYFUL.’ Elissa Blake on De Novo, Sun-Herald, 2013

‘BONACHELA’S CHOREOGRAPHY IS BRILLIANT AND THE DANCERS ARE EXTRAORDINARY.’ Ingrid Piper, on Les Illuminations, Daily Telegraph, 2013

‘UTTERLY BEGUILING … SOME OF THE FINEST, MOST INVENTIVE EVENINGS OF DANCE YOU ARE LIKELY TO SEE ON THE WORLD STAGE.’

and a restaging of the Sydney Dance Company commissioned work Fanatic by Larissa McGowan. The De Novo season also featured Sydney Dance Company’s first dedicated primary school’s matinee performance. 700 school students from years 3 to 6 were entranced by the performance of Cacti and it was a thrill for the Company to have a young audience so completely engaged with the work. De Novo received exceptional reviews and has since been funded for a large-scale national regional tour to take place in 2015. 13 Rooms represented a unique opportunity to participate in a large scale contemporary performance art piece produced by Kaldor Public Art Projects. Sydney Dance Company’s Rafael Bonachela was asked to realise the choreography for artists Jennifer Allora and Guillermo Calzadilla’s Revolving Door. With a cast of 80 dancers trained and led by the Sydney Dance Company ensemble, 13 Rooms was an opportunity to participate in a non-theatre based performance of a truly contemporary nature and demonstrate the flexibility and adaptability of our dancers. 13 Rooms attracted 29 000 attendees. It was also an opportunity to allow 64 student dancers to work with Rafael Bonachela and spend time with the Company dancers.

A feature of Sydney Dance Company performances in 2013 was the presence of orchestral collaborations. Clive Paget, on Les Illuminations, Project Rameau – the audience and critically acclaimed Limelight Magazine, 2013 co-production with the Australia Chamber Orchestra toured to Brisbane and Canberra with both Company’s AUDIENCE DEVELOPMENT working collaboratively on cross artform marketing. Les Illuminations featured a chamber ensemble from Across 2013, Sydney Dance Company undertook a number of strategies geared towards further developing Sydney Symphony as well as Katie Noonan on vocals. The sell out season was created as a “boutique” audiences. Programming of work was considered with both accessibility of the works and artistic excellence in performance with a catwalk thrust stage and the season received rapturous responses from audiences mind. 2013 also demonstrated a focus on audience and critics. cross-pollination via collaborations. 2013 marked a variation to the Company’s usual presentation model with eight weeks of the year spent on international touring. This focus on increasing the international profile of Sydney Dance Company and the exploration of new markets, particularly in South America created an exciting year for the Company. Sydney Dance Company’s business model has a number of different streams, each focused around producing exceptional quality contemporary dance works. Our self-presented seasons are sold directly to ticket buying audiences. In addition we also have a business-tobusiness model in marketing performances to Festivals and venues both within Australia and internationally. In 2013 Sydney Dance Company undertook 70 performances across 15 cities in eight countries. The De Novo season at Sydney Theatre featured three works and introduced audiences to Swedish choreographer Alexander Ekman with his accessible work Cacti alongside Rafael Bonachela’s Emergence

SYDNEY DANCE COMPANY ANNUAL REPORT 2013

Each season that Sydney Dance Company produced was supported by a range of behind the scenes video clips and activities such as open rehearsals. In seeking to develop audiences Sydney Dance Company seeks not only to generate new audiences but to also deepen the engagement of each audience member. In 2013 the Company undertook a review of its ticket pricing structure with the view to creating access points for younger audiences. Across 2013 Sydney Dance Company’s education department also increased and deepened its reach with a range of workshops and master classes held in addition to the school matinee performances. Each activity is supported by online, free resources that are developed by Sydney Dance Company under the guidance of its Education Advisory Committee. Across 2013 Sydney Dance Company achieved a total reach of 141,052 taking into account audience members, class and workshop participants and special event attendees.

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Emergence, De Novo (2013). Photo by Wendell Teodoro

FINANCIAL STABILITY It was a central goal of Sydney Dance Company’s 2013 strategic plan to achieve increased sustainability through rigorous financial management and growth, resulting in an annual surplus allowing an increase in the reserve holdings of the Company and an improvement in the viability ratio of the Company. In 2013 Sydney Dance Company achieved a modest surplus and the Company performed well against targets and budgets. This result was largely generated by a combination of careful cost control, significant increases in philanthropic income and self-generated commercial revenue. In addition, the Reserve Incentive Scheme contributed significantly to the result of $511,866. Revenue from performances, which includes ticket sales and performance fees from presentations were on budget. The Company did see a reduction in cash sponsorship income. This was offset by higher levels of philanthropy. In 2012 the Company invested in a new ticketing system for its popular dance classes and there has been a positive impact on commercial revenues in 2013 due to increased CRM capabilities. Sydney Dance Company’s Key Performance Indicator matrix has a number of measures built in to ensure that the Company achieves its goals. These indicators include building reserves, increasing profitability and achieving a consistent financial viability ratio of above 1.05. In 2013 the Company achieved a viability ratio of 1.57. Sydney Dance Company had overall growth of 6.1% in 2013. The financial result achieved is the 5th consecutive annual surplus for Sydney Dance Company and is evidence of the efficacy of the business approaches used in Company management. SYDNEY DANCE COMPANY ANNUAL REPORT 2013

Sydney Dance Company is in a period of on-going growth and is successfully achieving growth within a framework of slim margins and inherent risk associated with the Company’s artistic framework of presenting newly commissioned works. Medium term strategies, such as investment in injury prevention programmes are impacting positively on the business with a slight reduction in workers’ compensation costs and future reductions forecast. Additional investment in the philanthropy team at Sydney Dance Company is delivering good results. The Company’s annual fundraising gala – Dance Noir, in its fourth iteration in 2013 – was a stunning success.

CONCLUSION 2013 was a successful year for Sydney Dance Company with the key goals being met. The programming structure for the year had a focus on international touring, a part of the Company’s business which has a long and proud tradition as Sydney Dance Company has long been a flag bearer for Australian culture on the international stage. The other primary focus for the year was on collaborations and it was a pleasure for the Company to partner with colleagues and artists of such a high calibre. Creating new work and international touring is at the heart of what we do but will always involve an element of risk. The Company’s capacity to successfully deliver on both of these elements has contributed to the operating surplus for the year. The key goals of Sydney Dance Company must be considered together, as each is reliant on the other. In balance they demonstrate a dynamic Company and position Sydney Dance Company strongly for the future.

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KEY PERFORMANCE INDICATORS KEY PERFORMANCE INDICATORS

2013 2012 2011

NUMBER OF PERFORMANCES Sydney

27

36

34

Western Sydney

0

7

2

Canberra

4

5

3

Melbourne

1

10

0

Brisbane

5

0

5

Other Capital Cities

7

2

7

New South Wales Regional

0

12

2

Australian Regional excl NSW

1

3

9

14

45

20

11***

11

0

70

131

82

Number of seasons presented in Sydney

3

3

2

Number of new dance commissions

3

7

2

Number of new music commissions

1

2

2

Number of different works in repertoire for the year

7

8

5

International Other performances Total *** Participation in Kaldor Public Arts Project

PAID AUDIENCE

2013 2012

2011

Sydney

10,832

14,602

12,712

2,766

2,383

2,534

2,472

2,021

1,463

2,629

Canberra Melbourne Brisbane Perth Darwin

735

1,797

Hobart

884

New South Wales Regional

2,900

2,136

1,426

993

14,797

8,770

Australian Regional excl NSW International Other guest or special performances Total Paid Audiences Free Festival Performances Other Unpaid Audiences Total Audiences

14,968

33,287

39,635

30,898

29,000***

1,525*

7,000

4,134

8,540

**

9,076

66,421

49,700

46,974

** Inclusive of sponsors events and other complimentary tickets ***Attendees to 13 Rooms by Kaldor Public Arts Projects

SYDNEY DANCE COMPANY ANNUAL REPORT 2013

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KEY PERFORMANCE INDICATORS KEY PERFORMANCE INDICATORS

2013 2012

2011

EDUCATION AND OUTREACH Number of School Matinees

5

4

2

Number of ‘Sneak Peeks’

4

2

Number of ‘Work in Progress’ Events

2

2

Number of In-School Workshops and Masterclasses

42

26

12

Number of in-studio School Workshops

69

52

58

2,220

2,052

1,385

Attendance at School Matinees Attendance at ‘Sneak Peeks’

366

404

Attendance of ‘Work in Progress’ Events

863

1,161

Attendance at in-school School Workshops and Masterclasses

1,362

421

Attendance at in-studio School Workshops

2,998

2,738

66,490

64,186

Attendance in Open Dance Classes Attendance at School Holiday Workshops Attendance at Studio Hires Sydney Dance Company premises visitation

246 *

2,978 64,458

825

892

884

2,444

2,968

3,692

165,021 162,500 150,000

*A combination of workshops hosted by SDC and external education hirers

FINANCIAL RESULTS Income Expenses Results

2013 2012

2011

8,172,178^ 7,703,011 7,377,555 7,660,292 7,252,379 6,870,943 511,886 450,632 506,612

^ inclusive of $330,000 contribution from Australia Council and Arts NSW towards the Reserves Incentive Scheme

SYDNEY DANCE COMPANY ANNUAL REPORT 2013

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CORPORATE GOVERNANCE This statement outlines Sydney Dance Company’s corporate governance practices and addresses the Essential Governance Practice Principles published and monitored by the Australia Council for the Arts. These principles are based on the recommendations published by the ASX Corporate Governance Council. As at 31 December 2013 Sydney Dance Company has achieved substantial compliance with the recommendations as outlined below; 1 LAY SOLID FOUNDATIONS FOR MANAGEMENT AND OVERSIGHT Over the course of 2013 the Board continued to operate in line with the practises and principles set out in the Governance strategy contained within the strategic plan. A high level of engagement with company operations was clearly expressed across the 6 board meetings held with attendance rates of 80%. In addition board sub-committees on audit, and marketing met regularly with senior management in order to assist in the discharge of board strategic direction. Development was placed as a standing agenda item with whole of Board oversight and nominations and strategy committees met on an as needed basis. 2. STRUCTURE THE BOARD TO ADD VALUE 2013 saw a change of Chair of the Board of Sydney Dance Company with Julian Knights stepping down in order to take up the role as Chair of the Major Performing Arts Panel. Andrew Messenger took on the Chair role from April 2013. Following a significant expansion of the Board in 2012 the makeup of the Board for 2013 was stable with one additional Board member, Kiera Grant, joining in March. A nominations committee comprised of board members and Sydney Dance Company management meets once a year or as needed to discuss skill gaps and propose potential new board members.

SYDNEY DANCE COMPANY ANNUAL REPORT 2013

3. PROMOTE ETHICAL AND RESPONSIBLE DECISION MAKING Sydney Dance Company’s governance model is driven by both our constitution and the code of conduct incorporated within the strategic plan. It is the policy of the board to require that directors and management behave in an ethical and appropriate manner. 4. SAFEGUARD INTEGRITY IN FINANCIAL REPORTING Sydney Dance Company has an active audit committee. The prime responsibility of this committee is to independently verify and safeguard the integrity of the Company’s financial reporting. It does this through: • Reviewing the annual budget and monthly management accounts and forecasts • Reviewing all financial reports and statements contained in the statutory accounts and recommending acceptance to the board • Reviewing the Company’s financial progress against its strategic plan • Evaluate the adequacy of the Company’s internal control systems and procedures including insurance. • Reviewing the audit plan • Monitoring the implementation of any agreed recommendations of the external auditors. • Overseeing and approving programming and presentation plans • Approving any capital expenditure over $20,000 • Meeting with the External Auditor independently of Management The audit committee meets monthly, and on an as-needs basis. The committee is comprised by Andrew Messenger, Karen Moses (Chair), Peter Brownie and Kiera Grant with the Executive Director and the Finance Manager in attendance. The Board members of the committee have specific financial/ accounting experience. Sydney Dance Company is currently working towards financial sustainability. Our 2013 result contributes greatly towards bettering our accumulated financial position and our business plan is geared towards building reserves. In 2013 the Company was able to access the Reserve Incentive Scheme funds set aside by the Federal and NSW State Governments. Financial sustainability is a key driver in our business activities and informs all areas of business.

19


Sydney Dance Company, Les Illuminations in rehearsal (2013). Photo by Cynthia Sciberras

5. RISK MANAGEMENT Risk analysis and management, including financial, health and safety and reputational risks, is undertaken by Management and reported to the relevant subcommittees as part of regular board briefings. A detailed risk management plan is included in the Sydney Dance Company 5 year strategic plan identifying the ten most direct and damaging risks to the Company’s future as well as listing controls and strategies to deal with each risk. 6. ENCOURAGE ENHANCED PERFORMANCE The Board executive meets regularly with the Company management to assess and refine operations around enhancing the Company’s output in all areas. A structured framework of subcommittees is in place in order to harness board expertise most effectively. Regular cross industry referencing via AMPAG and industry forums is undertaken and audience feedback is sought at regular intervals. Feedback is incorporated into planning and programming activities and schedules. Assistance through structured volunteer programs is undertaken and designed to maximise outputs particularly in the area of development.

7. REMUNERATE FAIRLY AND RESPONSIBLY The audit committee functions as the remuneration committee on an annual and as needed basis with reference to both performance and industry standards. Responsibility for recruitment and remuneration negotiations with administrative staff is delegated to the Executive Director and reported to the committee. A conscientious effort is made to keep remuneration levels within industry norms. Negotiation for dancers levels of remuneration happen between the union and management. 2013 was the third year in a three year collective agreement with the dancers. Negotiations for a new collective agreement commenced in 2013 and will encompass the period 2014–2016 inclusive. 8. RECOGNISE THE LEGITIMATE INTERESTS OF STAKEHOLDERS The Board recognises the legitimate interests of the many stakeholders and meet regularly with our funding stakeholders. Our partners, donors and sponsors are listed and recognised on Company marketing material and season programmes. Within the arts industry, Sydney Dance Company is considered a leader with regard to communicating with our dance class and performance audiences through social media and online engagement. Andrew Messenger Chair

SYDNEY DANCE COMPANY ANNUAL REPORT 2013

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ANNUAL FINANCIAL REPORT FOR SYDNEY DANCE COMPANY

FOR YEAR ENDED 31 DECEMBER 2013

SYDNEY DANCE COMPANY ANNUAL REPORT 2013

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DIRECTORS’ REPORT

Your directors submit their report for the year ended 31 December 2013. DIRECTORS The names and details of Sydney Dance Company’s (“the Company”) directors in office during the financial year and until the date of this report are as follows. Directors were in office for this entire period, unless otherwise stated. Andrew Messenger (Chairman) Pamela Bartlett Peter Brownie Jean-Marc Carriol Judy Crawford Jane Freudenstein Kiera Grant (Appointed: March 2013) Karen Moses Julian Knights (Resigned: April 2013) Naseema Sparks Greta Thomas Carla Zampatti QUALIFICATIONS, EXPERIENCE AND SPECIAL RESPONSIBILITIES Andrew Messenger – B.Comm (Melbourne), LLB (Melbourne) (appointed Chair 22 April 2013) Partner – Corrs Chambers Westgarth Appointed to the Sydney Dance Company Board of Directors in August 2010 Expertise: Legal, governance, corporate contacts Pamela Bartlett Founding member of The Marmalade Foundation, operating and funding Lou’s Place, a safe place for women. Studied liberal arts and business administration. Previously Executive Manager, American Express Company with 20 years’ experience in Card and Travelers Cheque Operations. Appointed to the Sydney Dance Company Board of Directors in August 2012. Expertise: Operational management, customer service, quality assurance, marketing and fundraising

SYDNEY DANCE COMPANY ANNUAL REPORT 2013

Peter Brownie – B. Economics Managing Director, Morgan Stanley Australia Appointed to the Sydney Dance Company Board of Directors in August 2012 Expertise: Finance, strategy, management, corporate contacts Jean-Marc Carriol – BA (International Relations – Commerce) Executive Director, TRIMEX Appointed to the Sydney Dance Company Board of Directors in January 2011 Expertise: Fundraising, strategic management, corporate contacts Judy Crawford President Point Piper branch of Liberal party 20 years’ experience in fundraising for Sydney Symphony, MCA, Lifehouse, University of Sydney, Sydney Children’s Hospital Appointed to the Sydney Dance Company Board of Directors in 15 May 2012 Expertise: Fundraising, event management Jane Freudenstein Prior to joining the Board of Directors of the Sydney Children’s Hospital Foundation, she was a Director on the board of Sydney Children’s Choir and Gondwana Voices (2007–2010). Appointed to the Sydney Dance Company Board of Directors in October 2012 Expertise: Advertising, marketing and strategic brand development, fundraising Kiera Grant – B. Economics (Sydney) Non Executive Director of Samuel Smith and Sons (incorporating Yalumba Wines and Negociants Limited) Non Executive Director of Pacific Brands Ltd Trustee of the AGNSW Foundation Former Executive Director of UBS Australia. Appointed to the Sydney Dance Company Board in March 2013 Expertise: Finance, strategic management, corporate governance and corporate contacts

22


DIRECTORS’ REPORT (CONTINUED)

QUALIFICATIONS, EXPERIENCE AND SPECIAL RESPONSIBILITIES (CONTINUED) Karen Moses – B.Economics, Dip Education Executive Director, Finance and Strategy, Origin Energy Limited Director of Origin Energy Limited and Group companies and member of Risk Committee Director of Contact Energy Limited, New Zealand and Chair of Risk Committee Director of Australia Pacific LNG Pty Limited and Group companies and Chair of Audit Committee Director of SAS Trustee Corporation and member of the Disputes Committee and the HR & Nominations Committee Director of Energia Andina S.A. in Chile Appointed to the Sydney Dance Company Board of Directors in May 2012 Expertise: Financial, strategic management, corporate governance, corporate contacts

Carla Zampatti Executive Chairman of Carla Zampatti Pty Ltd. Board member of the Australian Multicultural Foundation, the European Australian Business Council, MCA Foundation and Scalabrini Village. Former Chairman of the SBS Corporation, and a former director of several boards including Westfield Holdings and McDonalds Australia and former board member of Sydney Theatre Company Foundation. Appointed to the Sydney Dance Company Board of Directors in October 2012 Expertise: Business, export markets, board governance, networks

Julian Knights – BCommLLB HDip Co Law (resigned 22 April 2013) Managing Partner, Ironbridge Capital Pty Limited. Solicitor in New South Wales Appointed to the Sydney Dance Company Board of Directors in October 2006 Expertise: Financial, fundraising, management

CORPORATE INFORMATION Sydney Dance Company is a company limited by guarantee that is incorporated and domiciled in Australia.

Naseema Sparks – B.Pharm, MBA (Melbourne) Independent Director – various ASX listed, private and statutory companies, including: Melbourne IT, Shadforth Financial Group, Racing NSW, PMP Ltd, AIG Australia ltd. Appointed to the Sydney Dance Company Board of Directors in July 2009 Expertise: Marketing, media, online commerce, fundraising, governance, corporate contacts

The Company employed 34 full time employees as at 31 December 2013 (2012: 33 employees).

Greta Thomas – MBA, Graduate Diploma in Performing Arts (Dance) Management Consultant Appointed to the Sydney Dance Company Board of Directors in February 2011 Expertise: Strategic management, marketing, sponsorship and fundraising

DIVIDENDS The Company is a non-profit organisation which does not pay dividends.

The registered office and principal place of business of the Company is: The Wharf, Pier 4, Hickson Road, Walsh Bay, NSW 2000.

PRINCIPAL ACTIVITIES The principal activities during the year were as follows: – Production and presentation of live dance in Australia and overseas. – Promotion and the study of dance. – Commercial activities to provide financial support for the above including daily dance classes, school holiday workshops and dance studio hire. There have been no significant changes in the nature of these activities during the year. OPERATING RESULTS Operating Results for the Year The operating surplus of the Company for the year ended 31 December 2013 was $511,886 (2012: $450,632). SIGNIFICANT CHANGES IN THE STATE OF AFFAIRS There have been no significant changes in the state of affairs of the Company during the year. SIGNIFICANT EVENTS AFTER THE BALANCE DATE There have been no significant events occurring after the balance date which may affect either the

SYDNEY DANCE COMPANY ANNUAL REPORT 2013

23


DIRECTORS’ REPORT (CONTINUED)

Company’s operations or results of those operations or the Company’s state of affairs. OBJECTIVES The surplus result of $511,886 was better than forecast for the year. Throughout 2013 Sydney Dance Company successfully delivered on its objectives of delivering artistically innovative works, growing audiences and improving the financial position of the Company with the view to improving sustainability. 2013 is the first year of delivery of a 5 Year Strategic Plan and the Company’s overall position is ahead of financial targets set by the plan, buoyed by better than forecast results for four years in a row. Sydney Dance undertook a significant Sydney, National and International programme in 2013. The Company premiered four new works in Sydney and worked with two guest choreographers. The National programme covered Sydney, Canberra, Adelaide and Darwin. Internationally we returned to the USA, Colombia, Mexico and China and debuted in Peru, Ecuador and Moscow. Additional investment in education and innovative collaborations between artists and other performing arts organisations have expanded the profile and reach of Sydney Dance. In addition to performances nationally and internationally, the Company delivered an extensive programme of dance classes and workshops in its Sydney studios. INDEMNIFICATION AND INSURANCE OF DIRECTORS AND OFFICERS Since the end of the previous financial year, the Company has not indemnified or made a relevant agreement for indemnifying against a liability of any person who is or has been an officer or auditor of the Company. Since the end of the previous financial year, the Company has paid premiums in respect of directors’ and officers’ liability and legal expenses insurance contracts. These insurance contracts insure against liability (subject to specific exclusions) for persons who are or have been directors or executive officers of the Company. The Directors have not included details of the nature of the liabilities covered nor the amount of the premium paid in respect of the directors’ and officers’ liability and legal expenses’ insurance contracts, as such disclosure is prohibited under the terms of the contract. DIRECTORS’ MEETINGS The number of meetings of directors (including meetings of committees of directors) held during the year and the number of meetings attended by each director were as follows:

Number of meetings: Andrew Messenger Pamela Bartlett Peter Brownie Jean-Marc Carriol Judy Crawford Jane Freudenstein Kiera Grant Karen Moses Julian Knights Naseema Sparks Greta Thomas Carla Zampatti

SYDNEY DANCE COMPANY ANNUAL REPORT 2013

Directors’ meetings

Audit Committee meetings

attended eligible to attend 6 6 6 6 4 6 5 6 4 6 5 6 5 5 5 6 2 2 4 6 4 6 3 6

attended eligible to attend 7 7 - - 5 7 - - - - - - 4 4 6 7 3 3 - - - - -

24


SYDNEY DANCE COMPANY ANNUAL REPORT 2013

25


SYDNEY DANCE COMPANY ANNUAL REPORT 2013

26


STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2013

Notes 2013 2012 $ $ Revenue 4(a) 7,784,543 7,680,996 Other income 4(b) 387,635 22,015 Administration and marketing expenses including staff costs (4,781,045) (4,282,198) Performance and production expenses (1,623,037) (1,876,344) Commercial activity related cost (785,909) (781,777) Philanthropy activity related costs (463,871) (275,596) Sponsorship activity related costs (6,430) (36,464) Operating surplus for the year 511,886 450,632 Other comprehensive income Total comprehensive income for the year

- 511,886

450,632

The above statement of profit or loss and other comprehensive income should be read in conjunction with the accompanying notes.

SYDNEY DANCE COMPANY ANNUAL REPORT 2013

27


STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2013

Notes 2013 2012 $ $

Assets Current assets Cash and cash equivalents 5 1,357,261 590,834 Trade and other receivables 7 265,644 192,294 Total current assets 1,622,905 783,128

Non-current assets Property, plant and equipment 8 97,722 103,850 Reserve incentive funding scheme 6 412,500 Total non-current assets 510,222 103,850 Total assets 2,133,127 886,978

Liabilities Current liabilities Trade and other payables 9 481,467 315,497 Deferred revenue 10 322,974 138,300 Employee benefit liabilities 11 109,037 135,360 Goverments grants 12 405,396 1,318,874 589,157 Total current liabilities Non-current liabilities Employee benefit liabilities 11 39,564 35,018 Total non-current liabilities 39,564 35,018 Total liabilities 1,358,438 624,175 Equity Contributed equity 13 524 524 Retained earnings 361,665 262,279 Reserve incentive funding scheme reserve 14 412,500 Total equity 774,689 262,803 Total equity and liabilities 2,133,127 886,978 The above statement of financial position should be read in conjunction with the accompanying notes.

SYDNEY DANCE COMPANY ANNUAL REPORT 2013

28


STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2013

Contributed Retained Reserve Total equity equity earnings incentive $ $ $ funding scheme reserve (Note 14) $ At 1 January 2012

524

(188,353)

-

(187,829)

Profit for the year Other comprehensive income

- -

450,632 -

- -

450,632 -

Total comprehensive income for the year

-

450,632

-

450,632

524

262,279

-

262,803

At 31 December 2012 Profit for the year Other comprehensive income Total comprehensive income for the year Transfer to reserve incentive funding scheme reserve At 31 December 2013

- - -

511,886 - 511,886 - - 511,886 - 511,886

- (412,500) 412,500 524 361,665 412,500 774,689

The above statement of changes in equity should be read in conjunction with the accompanying notes.

SYDNEY DANCE COMPANY ANNUAL REPORT 2013

29


STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2013

Notes 2013 2012 $ $ Operating activities Receipts from customers Payments to suppliers and employees Receipt of Reserve Incentive Funding Scheme Receipt of government grants Interest received Net cash flows from operating activities

4,158,211 4,764,530 (6,478,134) (7,036,491) 330,000 3,178,448 2,546,242 26,590 3,484 1,215,115 277,765

Investing activities Purchase of property, plant and equipment Transfer Reserve Incentive Funding to Escrow account Net cash flows used in investing activities

(36,188) (33,193) (412,500) (448,688) (33,193)

Financing activities Net cash flows used in financing activities

- -

Net increase in cash and cash equivalents 766,427 244,572 Cash and cash equivalents at beginning of year 590,834 346,262 Cash and cash equivalents at end of year 5 1,357,261 590,834

The above statement of cash flows should be read in conjunction with the accompanying notes.

SYDNEY DANCE COMPANY ANNUAL REPORT 2013

30


NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2013

1. CORPORATE INFORMATION The financial report of Sydney Dance Company (the ’’Company’’) for the year ended 31 December 2013 was authorised for issue in accordance with a resolution of the directors on 28 April 2014. Sydney Dance Company is a company limited by guarantee and as such has no authorised capital and is domiciled in Australia. The Company exists to present live dance in Australia and overseas and to promote the study of dance. The nature of the operations and principal activities of the Company are further described in the directors’ report. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (a) Basis of preparation The financial report is a general purpose financial report, which has been prepared in accordance with the requirements of the Corporations Act 2001, Australian Accounting Standards – Reduced Disclosure Requirements and other authoritative pronouncements of the Australian Accounting Standards Board. The financial report has also been prepared on a historical cost basis. The financial report is presented in Australian dollars. (b) Changes in accounting policy, disclosures, standards and interpretations (i) Changes in accounting policies, new and amended standards and interpretations The accounting policies adopted are consistent with those of the previous financial year. The Company has adopted AASB 101 Presentation of Items of Other Comprehensive Income– Amendments to AASB 101 as of 1 January 2013. The amendments have no impact on the presentation of the financial statements, the Company’s financial position, or performance. (ii) Accounting standards and interpretations issued but not yet effective Certain Australian Accounting Standards and Interpretations have recently been issued or amended but are not yet effective and have not been adopted by the Company for the annual reporting period ended 31 December 2013. The directors have not early adopted any of these new or amended standards or interpretations. The directors have not yet fully assessed the impact of these new or amended standards (to the extent relevant to the Company) and interpretations. (c) Going concern The financial report has been prepared on a going concern basis, which contemplates continuity of normal business activities and realisation of assets and settlement of liabilities in the ordinary course of business. The Company reported an operating surplus of $511,886 (2012: $450,632) during the year ended 31 December 2013, and as at that date, the Company’s total assets exceeded total liabilities by $774,689 (2012: $262,803). Sydney Dance Company has received confirmation of funding from the Australia Council and Arts NSW to 31 December 2015. This is subject to Sydney Dance Company continuing to meet the requirements of the Tripartite Agreement under which it is funded, and addressing any specific concerns and caveats that the funding bodies might require throughout the period. Each year the Directors and management prepare a schedule of performances and a budget for the Company based on assumptions as to the level of income from the various streams. A budget has been prepared for the year ending 31 December 2014 which projects a surplus. Therefore the directors believe that Sydney Dance Company will be able to pay its debts as and when they fall due and can continue on a going concern basis.

SYDNEY DANCE COMPANY ANNUAL REPORT 2013

31


NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2013

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) (d) Current versus non-current classification The Company presents assets and liabilities in the statement of financial position based on current/ non-current classification. An asset is current when it is: - - - -

Expected to be realised or intended to be sold or consumed in normal operating cycle Held primarily for the purpose of trading Expected to be realised within twelve months after the reporting period, or Cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period

All other assets are classified as non-current. A liability is current when: - - - -

It is expected to be settled in the normal operating cycle It is held primarily for the purpose of trading It is due to be settled within twelve months after the reporting period, or There is no unconditional right to defer the settlement of the liability for at least twelve months after the reporting period

(e) Foreign currency translation Transactions in foreign currencies are recorded by the Company at its functional currency spot rate at the date the transaction first qualifies for recognition. (f) Cash and cash equivalents Cash and cash equivalents in the statement of financial position comprise cash at banks and on hand. For the purpose of the statement of cash flows, cash and cash equivalents consist of cash, as defined above. (g) Trade and other receivables Trade receivables, which generally have 30–90 day terms, are recognised initially at fair value and subsequently measured at amortised cost using the effective interest method, less an allowance for impairment. Collectibility of trade receivables is reviewed on an ongoing basis. Individual debts that are known to be uncollectible are written off when identified. An impairment provision is recognised when there is objective evidence that the Company will not be able to collect the receivable. (h) Property, plant and equipment Property, plant and equipment is stated at cost, net of accumulated depreciation and accumulated impairment losses, if any. Such cost includes the cost of replacing part of the property, plant and equipment. When significant parts of property, plant and equipment are required to be replaced at intervals, the Company recognises such parts as individual assets with specific useful lives and depreciates them accordingly. Likewise, when a major inspection is performed, its cost is recognised in the carrying amount of the plant and equipment as a replacement if the recognition criteria are satisfied. All other repair and maintenance costs are recognised in profit or loss as incurred. Depreciation is calculated on a straight-line basis over the estimated useful life of the assets as follows:

Leasehold improvements – over 10 years Plant and equipment – over 2 to 5 years Furniture and fittings – over 5 years Computer equipment – over 3 years

An item of property, plant and equipment and any significant part initially recognised is de-recognised upon disposal or when no future economic benefits are expected from its use or disposal. Any gain or loss arising on de-recognition of the asset (calculated as the difference between the net disposal proceeds and the carrying amount of the asset) is included in the statement of profit or loss and other comprehensive income when the asset is derecognised. The residual values, useful lives and methods of depreciation of property, plant and equipment are reviewed at each financial year end and adjusted prospectively, if appropriate. SYDNEY DANCE COMPANY ANNUAL REPORT 2013

32


NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2013

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) (i) Impairment of non-financial assets The carrying values of plant and equipment are reviewed for indicators of impairment at each reporting date, with a recoverable amount being estimated when events or changes in circumstances indicate the carrying value may not be recoverable. The recoverable amount of plant and equipment is the greater offair value less costs to sell and value in use. Impairment losses are recognised in the statement of profit or loss and other comprehensive income. (j) Leases The determination of whether an arrangement is or contains a lease is based on the substance of the arrangement at inception date, whether fulfilment of the arrangement is dependent on the use of a specific asset or assets or the arrangement conveys a right to use the asset, even if that right is not explicitly specified in an arrangement. Company as a lessee Operating lease payments are recognised as an operating expense in the statement of profit or loss and other comprehensive income on a straight-line basis over the lease term. (k) Trade and other payables Trade and other payables are carried at amortised cost and due to their short-term nature they are not discounted. They represent liabilities for goods and services provided to the Company prior to the end of the financial year that are unpaid and arise when the Company becomes obliged to make future payments in respect of the purchase of these goods and services. The amounts are unsecured and are usually paid within 30 days of recognition. (l) Provisions and employee benefit liabilities General Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. When the Company expects some or all of a provision to be reimbursed, for example, under an insurance contract, the reimbursement is recognised as a separate asset, but only when the reimbursement is virtually certain. The expense relating to a provision is presented in the statement of profit or loss and other compehensive income net of any reimbursement. Wages, salaries and annual leave Liabilities for wages and salaries, including non-monetary benefits and annual leave expected to be settled within 12 months of the reporting date are recognised in respect of employees’ services up to the reporting date. They are measured at the amounts expected to be paid when the liabilities are settled. Long service leave The liability for long service leave is recognised and measured as the present value of expected future payments to be made in respect of services provided by employees up to the reporting date using the projected unit credit method. Consideration is given to expected future wage and salary levels, experience of employee departures, and periods of service. Expected future payments are discounted using market yields at the reporting date on national government bonds with terms to maturity and currencies that match, as closely as possible, the estimated future cash outflows. (m) Contributed equity The membership fees were contributed by the initial members upon establishment of the Company. In accordance with the Constitution, members are not entitled to any reimbursement or return of initial membership fees upon ceasing to be a member.

SYDNEY DANCE COMPANY ANNUAL REPORT 2013

33


NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2013

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) (n) Revenue recognition Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured, regardless of when the payment is being made. Revenue is measured at the fair value of the consideration received or receivable, taking into account contractually defined terms of payment and excluding taxes or duty. The specific recognition criteria described below must also be met before revenue is recognised. Box office Box office revenue is recognised in the year in which the performance is given. Sponsorship and Government grants Sponsorship and Government grant income are brought into account over the year to which the sponsorship agreement or grant relates. If the sponsorship or grant relates to a specific project, then it is brought to account at the time the project occurs. Any funding not spent on the planned activities agreed by both parties, at the start of the calendar year, is required to be repaid. Sponsorship in kind Sponsorship in kind is brought to account as revenue in the year to which the equal and corresponding expense relates. Consequently, the revenue and expenses are recognised in the same accounting year. Where a depreciable asset is received as sponsorship in kind, revenue is recognised in the period in which the asset is received, and that asset is depreciated over its useful life. Dance classes Dance classes are recognised as revenue within the period in which they are provided. Dance class tickets have an expiry date of 12 months. The income from unused dance class tickets at year end is deferred into the following year after an adjustment is made for tickets that will remain unused at the date of expiry. Interest revenue Revenue is recognised as interest accrues using the effective interest method. (o) Income tax The Company has not provided for income tax as it is exempted from income tax by virtue of section 50-5 of the Income Tax Assessment Act, 1997. (p) Goods and services tax (GST) Revenues, expenses and assets are recognised net of the amount of GST, except: – When the GST incurred on a purchase of assets or services is not recoverable from the taxation authority, in which case the GST is recognised as part of the cost of acquisition of the asset or as part of the expense item, as applicable – When receivables and payables are stated with the amount of GST included The net amount of GST recoverable from, or payable to, the taxation authority is included as part of receivables or payables in the statement of financial position. Cashflows are included in the statement of cashflows on a gross basis and the GST component of cashflows arising from investing and financing activities, which is recoverable from, or payable to, the taxation authority is classified as part of operating cash flows. Commitments and contingencies are disclosed net of the amount of GST recoverable from, or payable to, the taxation authority. (q) Government grants Government grants are recognised when there is reasonable assurance that the grant will be received and all attaching conditions will be complied with. When the grant relates to an expense item, it is recognised as income over the periods necessary to match the grant on a systematic basis to the costs that it is intended to compensate. Any funding not spent on the planned activities agreed by both parties, at the start of the calendar year, is required to be repaid. SYDNEY DANCE COMPANY ANNUAL REPORT 2013

34


NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2013

3. SIGNIFICANT ACCOUNTING JUDGEMENTS, ESTIMATES AND ASSUMPTIONS The preparation of the Company’s financial statements requires management to make judgements, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, and the accompanying disclosures, and the disclosure of contingent liabilities. Uncertainty about these assumptions and estimates could result in outcomes that require a material adjustment to the carrying amount of assets or liabilities affected in future periods. Estimates and assumptions The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year, are described below. The Company based its assumptions and estimates on parameters available when the financial statements were prepared. Existing circumstances and assumptions about future developments, however, may change due to market changes or circumstances arising beyond the control of the Company. Such changes are reflected in the assumptions when they occur. Long service leave provision The liability for long service leave is recognised and measured at the present value of the estimated future cashflows to be made in respect of all employees at balance date. In determining the present value of the liability, attrition rates and pay increases through promotion and inflation have been taken into account. Annual leave provision The liability for annual leave provision is recognised and measured at the present value of the estimated future cashflows to be made in respect of all employees at balance date. In determining the present value of the liability and pay increase through promotion and inflation have been taken into account. Unused dance class tickets The value of unused dance class ticket income is calculated at year end. Estimates of the future use of these tickets, based on historical use of tickets, are applied in the calculation of this value. The value of tickets estimated to remain unused at the 12 month expiry date are recognised as income in the year of sale.

SYDNEY DANCE COMPANY ANNUAL REPORT 2013

35


NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2013

2013 2012 $ $ 4. REVENUE AND EXPENSES (a) Revenue Box Office, fees and other performance related income Sponsorship – cash Sponsorship – inkind Fundraising Commercial income Government grants – cash Government grants – inkind rental Total revenue (b) Other income Interest income Reserve incentive funding scheme Other income Total other income (c) Salaries and employee benefits expenses included in the statement of profit or loss and other comprehensive income Wages and salaries Workers’ compensation costs Long service leave expense Total employee benefits expense (d) Depreciation expense included in the statement of profit or loss and other comprehensive income Depreciation of non-current assets Plant and equipment Office equipment Furniture and fittings Computer software Total depreciation expense (e) Other expenses included in the statement of profit or loss and other comprehensive income Bad debts Total other expenses

SYDNEY DANCE COMPANY ANNUAL REPORT 2013

1,094,525 1,134,303 86,300 160,000 440,618 457,622 1,057,761 684,163 1,521,312 1,402,234 2,773,052 3,029,466 810,975 813,208 7,784,543 7,680,996 26,590 3,484 330,000 31,045 18,531 387,635 22,015

4,011,931 3,589,752 168,551 171,728 (11,921) 15,099 4,168,561 3,776,579

22,056 18,567 16,750 16,813 1,215 1,317 2,295 42,316 36,697

- -

1,249 1,249

36


NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2013

2013 2012 $ $ 4. REVENUE AND EXPENSES (CONTINUED) (f) Government grant income included in the statement of profit or loss and other comprehensive income Australia Council Grants: – Australia Council General – Australia Council Philanthropy Grant – Australia Council Dance Managers Meeting Grant – Australia Council Mentorship Program – Australia Council RAMEAU Grant – Australia Council Education Grant NSW Government MPA Grant NSW Government Theatre Subsidy Grant NSW Government Education Grant NSW Government In-kind Rental Assistance Arts on Tour Funds Grant Australia Council Reserve Incentive Funding Scheme Arts NSW Reserve Incentive Funding Scheme City of Sydney education grant Total Government Grants

2,472,360 2,414,414 - 3,043 2,500 5,000 - 3,000 - 140,000 - 25,000 267,217 267,218 - 79,100 - 17,332 810,975 813,208 18,975 75,359 165,000 165,000 12,000 3,914,027 3,842,674

2012 was the first year that Arts NSW has required a value attached to the in-kind rental assistance provided by them for properties rented by SDC. Various government grants relating to market and infrastructure development have been received during the year. There are no unfulfilled conditions or contingencies attaching to these grants.

5. CASH AND CASH EQUIVALENTS Cash at bank and on hand

1,357,261 590,834

Cash at bank earns interest at floating rates based on daily bank deposit rates. The carrying amounts of cash represent fair value.

6. RESERVE INCENTIVE FUNDING SCHEME Reserve incentive funding scheme

412,500 -

The funds received under the Reserve Incentive Funding Scheme Agreement together with the Company’s contribution are held in escrow for a period of 15 years ending on 2 April 2028 and are subject to the terms and conditions of the Reserves Incentive Funding Scheme Agreement between the Australia Council, Arts NSW and the Company. The funds have not been used to secure any liabilities of the Company. The funds consist of short term deposits of $412,500 and accrued interest of $74. Sydney Dance Company is committed to contribute an additional $82,500 in 2014 to this escrow account.

SYDNEY DANCE COMPANY ANNUAL REPORT 2013

37


NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2013

2013 $

2012 $

7. TRADE AND OTHER RECEIVABLES

Trade receivables 33,901 84,369 Allowance for impairment loss (1,249) (1,249) 32,652 83,120

Sundry debtors 32,444 12,474 Goods and services tax receivable - 21,504 Insurance receivable 3,196 Other receivables 197,352 75,196 Carrying amount of trade and other receivables 265,644 192,294 Movements in the provision for impairment loss were as follows: At 1 January Charge for the year Provision utilised At 31 December

1,249 10,000 - 1,249 - (10,000) 1,249 1,249

8. PROPERTY, PLANT AND EQUIPMENT Leasehold improvements At cost Accumulated depreciation Net carrying amount

22,259 22,259 (22,259) (22,259) - -

Plant and equipment At cost Accumulated depreciation Net carrying amount

254,777 254,777 (205,527) (183,471) 49,250 71,306

Office equipment At cost Accumulated depreciation Net carrying amount

226,713 220,531 (207,684) (190,934) 19,029 29,597

Furniture and fittings At cost Accumulated depreciation Net carrying amount

28,157 19,017 (17,285) (16,070) 10,872 2,947

Computer software At cost Accumulated depreciation Net carrying amount

20,866 (2,295) 18,571 -

Total property, plant and equipment At cost Accumulated depreciation Net carrying amount

SYDNEY DANCE COMPANY ANNUAL REPORT 2013

552,772 516,584 (455,050) (412,734) 97,722 103,850

38


NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2013

8. PROPERTY, PLANT AND EQUIPMENT (continued)

2013 $

(a) Reconciliation of carrying amounts at the beginning and end of the year

SYDNEY DANCE COMPANY ANNUAL REPORT 2013

Leasehold improvements Balance at the beginning of the year At cost Accumulated depreciation Balance at the end of the year – Net carrying amount

22,259 (22,259) -

Plant and equipment Balance at the beginning of the year At cost Accumulated depreciation Net carrying amount Depreciation charge for the year Balance at the end of the year – Net carrying amount

254,777 (183,471) 71,306 (22,056) 49,250

Office equipment Balance at the beginning of the year At cost Accumulated depreciation Net carrying amount Additions Depreciation charge for the year Balance at the end of the year – Net carrying amount

220,531 (190,934) 29,597 6,182 (16,750) 19,029

Furniture and fittings Balance at the beginning of the year At cost Accumulated depreciation Net carrying amount Additions Depreciation charge for the year Balance at the end of the year – Net carrying amount

19,017 (16,070) 2,947 9,140 (1,215) 10,872

Computer software Balance at the beginning of the year Net carrying amount Additions Depreciation charge for the year Balance at the end of the year – Net carrying amount

20,866 (2,295) 18,571

Total Property, plant and equipment Balance at the beginning of the year At cost Accumulated depreciation Net carrying amount Additions Depreciation charge for the year Balance at the end of the year – Net carrying amount

516,584 (412,734) 103,850 36,188 (42,316) 97,722

39


NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2013

9. TRADE AND OTHER PAYABLES (CURRENT) Trade payables Other payables Goods and services tax payable

2013 $

2012 $

109,058 155,970 326,159 159,527 46,250 481,467 315,497

(a) Trade payables Trade payables are non-interest bearing and are normally settled on 30 day terms. (b) Other payables Other payables are non-trade, non-interest bearing payables and have an average term of 6 months. 10. DEFERRED REVENUE Dance class deferred revenue Education activity deferred income Development activity deferred income 11. EMPLOYEE BENEFIT LIABILITY Current Annual leave Long service leave Non-current Long service leave

120,281 92,000 104,193 46,300 98,500 322,974 138,300

70,864 76,798 38,173 58,562 109,037 135,360 39,564 35,018 39,564 35,018

Nature and timing of provisions Long service leave Refer to note 2(l) for the relevant accounting policy and a discussion of the significant estimations and assumptions applied in the measurement of this provision.

SYDNEY DANCE COMPANY ANNUAL REPORT 2013

40


NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2013

2013 2012 $ $ 12. GOVERNMENT GRANTS Current NSW Government general grant advances Total government grants deferred

405,396 405,396 -

The accounting policies adopted and the description of government grants received by the Company, including the conditions attached to the grants, have been disclosed in note 2(q). Movement in government grants At 1 January Received during the year Released to the statement of profit or loss and other comprehensive income At 31 December

- 459,100 4,319,423 3,383,574 (3,914,027) (3,842,674) 405,396 -

13. CONTRIBUTED EQUITY Membership fees

524 524 524 524

The membership fees were contributed by the initial members upon establishment of the Company. In accordance with the Constitution, members are not entitled to any reimbursement or return of initial membership fees upon ceasing to be a member. 14. RESERVE INCENTIVE FUNDING SCHEME RESERVE At 1 January Transfer from retained earnings in relation to: Reserve incentive funding scheme At 31 December

-

-

412,500 412,500 -

15. COMMITMENTS AND CONTINGENCIES (a) Commitments Reserves Incentive Funding Scheme Sydney Dance Company is committed to contribute a further $82,500 to match the Reserves Incentive Funding Scheme contributions already made by the Australia Council and Arts NSW. Sydney Dance Company made a contribution of $82,500 in 2013. Leasing commitments Negotiations are currently underway with Arts NSW concerning the lease and lease term of the premises going forward. (b) Contingencies The directors are not aware of any contingent liabilities as at 31 December 2013 (2012: none).

SYDNEY DANCE COMPANY ANNUAL REPORT 2013

41


NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2013

16. RELATED PARTY DISCLOSURES

Transactions with related parties Donations: The following donations were made by directors during the year: 2013 2012 $ $ 40,000 20,000 6,700 5,000 - 1,000 2,500 20,000 19,000 10,500 14,000 - 3,000 15,000 2,000 25,500 55,500 7,000 3,500 1,050 25,500 172,750 104,000

Andrew Messenger (Chairman) Pamela Bartlett Peter Brownie Darcey Bussell Jean-Marc Carriol Judy Crawford Jane Freudenstein Kiera Grant Anthony Jones Karen Moses Julian Knights Naseema Sparks Greta Thomas Carla Zampatti Total donations 17. KEY MANAGEMENT PERSONNEL (a) Details of Key Management Personnel Current Directors Andrew Messenger Chairman Pamela Bartlett Director (non-executive) Peter Brownie Director (non-executive) Jean-Marc Carriol Director (non-executive) Judy Crawford Director (non-executive) Jane Freudenstein Director (non-executive) Kiera Grant Director (non-executive) Karen Moses Audit Committee Chair Naseema Sparks Director (non-executive) Greta Thomas Director (non-executive) Carla Zampatti Director (non-executive) Executives Anne Dunn Sean Radcliffe

Executive Director Deputy Executive Director, Company Secretary

Non-executive Directors of Sydney Dance Company do not receive remuneration for serving on the Board of Directors.

SYDNEY DANCE COMPANY ANNUAL REPORT 2013

42


NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2013

17. KEY MANAGEMENT PERSONNEL (continued)

(b) Key Management Personnel 2013 2012 $ $ Total compensation

388,921 359,700

(c) Other transactions and balances with Key Management Personnel Donations from directors are disclosed in Note 16. There are no other transactions or balances with key management personnel. 18. EVENTS AFTER THE BALANCE DATE There have been no significant events occurring after the balance date which may affect either the Company’s operations or results of those operations or the Company’s state of affairs. 19. ECONOMIC DEPENDENCY The Company is dependent upon funding in the form of government grants, sponsorship, donations and funds received through various fundraising events. 20. INFORMATION AND DECLARATIONS TO BE FURNISHED UNDER THE CHARITABLE FUNDRAISING ACT, 1991 DETAILS OF AGGREGATE GROSS INCOME AND TOTAL EXPENSES OF FUNDRAISING APPEALS

2013 2012 $ $

GROSS PROCEEDS FROM FUNDRAISING APPEALS Sydney Dance Partners and Functions

1,057,761 684,163

LESS TOTAL COST OF FUNDRAISING APPEALS Sydney Dance Partners and Functions NET SURPLUS FROM FUNDRAISING APPEALS

(348,377) (272,596) 709,384 411,567

ACCOUNTING PRINCIPLES AND METHODS ADOPTED IN ACCOUNTS The accounts have been prepared on the accrual basis, and in accordance with applicable Statements of Accounting Concepts and Accounting Standards. They have also been prepared on the basis of historical cost. The accounting policies have been consistently applied unless otherwise stated.

SYDNEY DANCE COMPANY ANNUAL REPORT 2013

43


SYDNEY DANCE COMPANY ANNUAL REPORT 2013

44


GOVERNANCE STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2013

This statement outlines the main corporate governance practices that were in place throughout the financial year. (a) Board of Directors The Board is responsible for the overall corporate governance of the Company including its corporate planning, establishing goals for management and monitoring achievement of these goals. The Board meets on a bi-monthly basis. To assist in the execution of its responsibilities the Board has established four standing committees: the Audit and Risk Committee, the Marketing Committee, the Development Committee and Nominations Committee.

The Board currently has eleven members. One new director has been added to the Board as from January 2013 while one has resigned in the same period. The names of Board members at the date of this statement are set out in the Director’s Report of the financial statements. Established skills represented on the Board include finance, legal, marketing, administration and fundraising.

(b) Audit and Risk Committee The Audit and Risk Committee is responsible for reviewing, advising and evaluating the Company’s financial controls, procedures and policies including the review of annual budgets, management accounts and forecasts. The committee also reviews the annual audit plan and statutory accounts.

The Audit and Risk Committee meets at least four times a year and on an as-needs basis. Currently it is comprised of Karen Moses (Audit and Risk Committee Chair), Andrew Messenger (Board Chair), Peter Brownie (Board Member), Kiera Grant (Board Member), Executive Director and Deputy Executive Director.

(c) Marketing Committee The marketing committee is responsible for strategic guidance in relation to marketing and communications plans. This function includes post season reviews and recommendations on changes to be made for future marketing campaigns.

The Marketing Committee meets on a quarterly and on an as-needs basis. Currently it is comprised of Naseema Sparks (Board Member), Jane Freudenstein (Board Member), Executive Director and Marketing Manager.

(d) Development Committees Development is overseen by the whole Board. This oversight includes reviewing annual development targets, budgets and results as well as providing advice to management as to increasing development income. Development is a standing first item on the Board agenda and is the responsibility of the entire Board. Individual Board members are appointed to take carriage of specific development events and strategies in conjunction with the Development Director. Sydney Dance Company’s major fundraising event is managed by its committee. In 2013, the committee was comprised of three Board members: Pamela Bartlett (co-chair), Jean-Marc Carriol, Judy Crawford and additional external expert members. This committee meets regularly in the six months lead up to the event. (e) Nominations Committee The nominations committee meets to identify, propose and discuss the skills and suitability of persons for nomination and election to the Sydney Dance Company Board of Directors.The committee also has the responsibility of identifying skills gaps in the current Sydney Dance Company board and finding suitable replacements thus ensuring an appropriate combination of skills, experience and influence.

Currently it is chaired by Andrew Messenger (Board Chair) and comprises three other Board Members, Jean-Marc Carriol, Peter Brownie and Karen Moses and the Executive Director.

The committee meets twice a year and on an as-needs basis.

SYDNEY DANCE COMPANY ANNUAL REPORT 2013

45


SYDNEY DANCE COMPANY ANNUAL REPORT 2013

46

Sydney Dance Company 2013 Annual Report  
Sydney Dance Company 2013 Annual Report  
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