Company registration number: 3204442 Charity registration number: 1059384
## Chitraleka Dance Company
(A company limited by guarantee)
Annual Report and Financial Statements
for the Year Ended 31 March 2023
Bissell & Brown Birmingham Ltd Chartered Accountants
12 Portman Road Kings Heath Birmingham B13 0SL
## **Chitraleka Dance Company**
## **Contents**
|Reference and Administrative Details|1|
|---|---|
|Trustees' Report|2 to 4|
|Accountants' Report|5|
|Statement of Financial Activities|6|
|Balance Sheet|7|
|Notes to the Financial Statements|8 to 11|
## **Chitraleka Dance Company**
## **Reference and Administrative Details**
**Secretary** Sharad Bolar **Charity Registration Number** 1059384 **Company Registration Number** 3204442 The charity is incorporated in Wales. **Registered Office** 4 Belmont Crescent Northfield Birmingham B31 2FH **Independent Examiner** Bissell & Brown Birmingham Ltd Chartered Accountants 12 Portman Road Kings Heath Birmingham B13 0SL
Page 1
## **Chitraleka Dance Company**
## **Trustees' Report**
The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 March 2023.
## **Objectives and activities**
## _**Objects and aims**_
To advance the education for the public benefit by the promotion of the arts particularly but not exclusively the art of dance.
We provide dance-in-education workshops to early years, primary and secondary schools and traininhg in the art of Bharatanatyam, Indian Classical dance in the community.
## _**Objectives, strategies and activities**_
Key activities of the Charity company were as follows:
The Company, under the leadership of Chitraleka Bolar, Artistic Director, undertook:
1. Arangetrams of five of the Academy’s students. The first performance took place in and India in August 2022 of two students, also sisters, and three other Arangetram performances took place in Birmingham in September 2022. Chitraleka Bolar – Artistic Director and choreographer worked with all the dancers training them on their chosen items. Anaya Vasudha Bolar - Assistant choreographer. worked on some of the items with the students and contributed to getting them ready on all creative inputs and she also helped in the Nattuvangam support during the performance.
Arangetram in India took place in Thirupati, India on 27th August 2022, was entirely event-organised and administrated by the parents of the students, Sravani Challagali and Mahati Challagali. The venue arrangements and all other aspects of the event, including the appointment of musicians for the event were organised and coordinated by the family. The following students performed their arangetrams held in the UK in Birmingham.
3rd September 2022 – Shriya Sharma 18th September 2022 – Anila Peri 24th September 2022 – Anushka Maghizh
Accompanying musicians for all the above three performances were appointed from India with the administrative support on work permit applications for all the musicians were provided by staff of Aakash Odedra Company, based in Leicester.
Accompanying musicians were, K. S. Vasudha – Vocals, S.V. Balakrishna – Mridangam, Vivek V. Krishna – Flute and Akash Parikar (a local Sitar artist) and D. Arun Kumar – Percussion
All the shows were well attended and highly successful.
2. CDC was donated a sum of £2250 given by the directors of Moby Duck towards Anaya Bolar’s professional development programme last year was used to develop her skills in dance style. She worked with Mavin Khoo on technique, Nirupama Rajendra on Karanas, she also worked with other specialists in Abhinaya and music.
## _**Public benefit**_
The trustees consider the support to disadvantaged and poorer members of the community in Birmingham, and discussion of lessons learned to the rest of the country, to be of public benefit.
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
## **Trustees and officers**
The trustees and officers serving during the year and since the year end were as follows:
Page 2
## **Chitraleka Dance Company**
## **Trustees' Report**
Trustees:
Secretary:
Bhuvaneshwar Machani Elspeth Insch Piali Ray Dennis Govindbhai Patel Sharad Bolar
## **Structure, governance and management**
## _**Nature of governing document**_
Memorandum & Articles of Association, incorporated 28th May 1996, as amended by change of name 21st July 2010.
## _**Recruitment and appointment of trustees**_
Management Committee members are elected at the AGM and shall consist of no less than 3 and no more than 10 members. The Management Committee may co-opt additional members, who must retire at the next AGM. One-third of Management Committee members retire at each AGM
## _**Induction and training of trustees**_
Potential Management Committee members are required to provide a brief CV and a character reference, are then invited to attend a regular Management Committee meeting to observe and are asked to give a short personal statement and have a short interview with some/all Committee members, and th Director, and a mutual decision is taken whether to appoint. All new Management Committee members are provided with a description of duties and are guided to the Charity Commission website or documents regarding duties.
## _**Organisational structure**_
Board development and governance
## a) Board membership
The current board membership on 31st March 2021 stands at 4 in total. Current trustees are Bhuvaneshwar Machani (Chair), Elspeth Insch, Piali Ray, and Dennis Patel. Sharad Bolar remains as secretary to the board of trustees.
b) Operational capacity
The Acadeny company employed 3 full-time staff, Chitraleka Bolar (Artistic Director) and Sharad Bolar (Operations Director) and Anaya Bolar (Full-time Dance Associate). Jaya Khazaei is appointed as part-time dance associate.
## **Statement of trustees' responsibilities**
The trustees (who are also the directors of Chitraleka Dance Company for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and apply them consistently;
- observe the methods and principles in the Charities SORP;
Page 3
## **Chitraleka Dance Company**
## **Trustees' Report**
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
The annual report was approved by the trustees of the charity on .................... and signed on its behalf by:
......................................... Sharad Bolar Company secretary
Page 4
## **Chartered Accountants' Report to the Trustees on the Preparation of the Unaudited Statutory Accounts of Chitraleka Dance Company for the Year Ended 31 March 2023**
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Chitraleka Dance Company for the year ended 31 March 2023 as set out on pages 6 to 11 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW) we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/ members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Chitraleka Dance Company, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Chitraleka Dance Company and state those matters that we have agreed to state to the board of directors of Chitraleka Dance Company, as a body, in this report, in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Chitraleka Dance Company and its board of directors as a body for our work or for this report.
It is your duty to ensure that Chitraleka Dance Company has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and of Chitraleka Dance Company. You consider that Chitraleka Dance Company is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Chitraleka Dance Company. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
......................................
Bissell & Brown Birmingham Ltd Chartered Certified Accountants 12 Portman Road Kings Heath Birmingham West Midlands B13 0SL Date:.............................
Page 5
## **Chitraleka Dance Company**
## **Statement of Financial Activities for the Year Ended 31 March 2023 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)**
|**Note**
**Income and Endowments from:**
Charitable activities
3
Investment income
4
Other income
Total Income
**Expenditure on:**
Charitable activities
5
Total Expenditure
Net expenditure
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward
12|**Unrestricted**
**£**
46,363
22
5
46,390
(54,613)
(54,613)
(8,223)
(8,223)
44,805
36,582|**Restricted**
**£**
-
-
-
-
(2,250)
(2,250)
(2,250)
(2,250)
2,250
-|**Total**
**2023**
**£**
46,363
22
5
46,390
(56,863)
(56,863)
(10,473)
(10,473)
47,055
36,582|**Total**
**2022**
**£**
13,855
1
195|
|---|---|---|---|---|
|||||14,051|
|||||(14,917)|
|||||(14,917)|
|||||(866)|
|||||(866)
47,921|
|||||47,055|
All of the charity's activities derive from continuing operations during the above two periods.
The funds breakdown for 2022 is shown in note 12.
The notes on pages 8 to 11 form an integral part of these financial statements. Page 6
## **Chitraleka Dance Company**
## **(Registration number: 3204442) Balance Sheet as at 31 March 2023**
|**Note**
**Current assets**
Debtors
9
Cash at bank and in hand
10
**Creditors: Amounts falling due within one year**
11
**Net assets**
**Funds of the charity:**
**Restricted income funds**
Restricted funds
12
**Unrestricted income funds**
Unrestricted funds
**Total funds**
12|**2023**
**£**
10,473
43,021
53,494
(16,912)
36,582
-
36,582
36,582|**2022**
**£**
30,131
30,256|
|---|---|---|
|||60,387
(13,332)|
|||47,055|
|||2,250
44,805|
|||47,055|
For the financial year ending 31 March 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The financial statements on pages 6 to 11 were approved by the trustees, and authorised for issue on .................... and signed on their behalf by:
......................................... Elspeth Insch Trustee
The notes on pages 8 to 11 form an integral part of these financial statements. Page 7
## **Chitraleka Dance Company**
## **Notes to the Financial Statements for the Year Ended 31 March 2023**
## **1 Charity status**
The charity is limited by guarantee, incorporated in Wales, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.
The address of its registered office is: 4 Belmont Crescent Northfield Birmingham B31 2FH Authorised for issue date
## **2 Accounting policies**
## **Summary of significant accounting policies and key accounting estimates**
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
## **Statement of compliance**
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
## **Basis of preparation**
Chitraleka Dance Company meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
## **Going concern**
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
## **Income and endowments**
## **Expenditure**
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
## _**Charitable activities**_
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Page 8
## **Chitraleka Dance Company**
## **Notes to the Financial Statements for the Year Ended 31 March 2023**
## **Taxation**
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
## **Depreciation and amortisation**
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
## **3 Income from charitable activities**
|Arts Council grant
Merchandising
Fees
**4**
**Investment income**
Interest receivable and similar income;
Interest receivable on bank deposits|**Unrestricted**
**funds**
**General**
**£**
1,495
5
44,868
46,368
**Unrestricted**
**funds**
**General**
**£**
22
22|**Total**
**2023**
**£**
1,495
5
44,868|
|---|---|---|
|||46,368|
|||**Total**
**2023**
**£**
22|
|||22|
## **5 Expenditure on charitable activities**
Page 9
## **Chitraleka Dance Company**
## **Notes to the Financial Statements for the Year Ended 31 March 2023**
|Room hire
Studio costs
Salaries rechages
Artist fees
Computer costs
Insurance
Motor & travel
Accountancy
Interest & Bank charges
**Total for 2023**
**Total for 2022**|**Unrestricted**
**funds**
**General**
**£**
569
3,500
19,658
11,834
84
884
17,045
920
119
54,613
14,917|**Restricted**
**funds**
**£**
-
-
-
2,250
-
-
-
-
-
2,250
-|**Total**
**funds**
**£**
569
3,500
19,658
14,084
84
884
17,045
920
119|
|---|---|---|---|
||||56,863|
||||14,917|
## **6 Net incoming/outgoing resources**
Net outgoing resources for the year include:
**2023 £**
## **7 Trustees remuneration and expenses**
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No trustees have received any reimbursed expenses or any other benefits from the charity during the year.
## **8 Taxation**
The charity is a registered charity and is therefore exempt from taxation.
## **9 Debtors**
|**9**
**Debtors**|||
|---|---|---|
|Due from associated company
**10 Cash and cash equivalents**
Cash at bank
Short-term deposits|**2023**
**£**
10,473
**2023**
**£**
32,952
10,069
43,021|**2022**
**£**
30,131|
|||**2022**
**£**
20,209
10,047|
|||30,256|
Page 10
## **Chitraleka Dance Company**
## **Notes to the Financial Statements for the Year Ended 31 March 2023**
## **11 Creditors: amounts falling due within one year**
|**11 Creditors: amounts falling due within one**|**year**||||
|---|---|---|---|---|
|Non-Trustees current accounts
Accruals
**12 Funds**
**Unrestricted funds**
General
**Restricted funds**
**Total funds**|**Balance at 1**
**April 2022**
**£**
44,805
2,250
47,055|**Incoming**
**resources**
**£**
46,390
-
46,390|**2023**
**£**
12,612
4,300
16,912
**Resources**
**expended**
**£**
(54,613)
(2,250)
(56,863)|**2022**
**£**
12,612
720|
|||||13,332|
|||||**Balance at 31**
**March 2023**
**£**
36,582
-|
|||||36,582|
## **13 Related party transactions**
Page 11