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 2024
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 5 |
| Independent Examiner's Report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the Financial Statements | 9 to 12 |
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 2024.
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:
Chitraleka dance Company’s all training classes are face to face unless problems with the venues being available.
We have classes at Solihull WI on Fridays for Beginners, Grade 1 & Grade 2. Saturdays and Sundays at Handsworth venue for all grades.
ISTD examinations:
3 sessions in June, 2 sessions in July and 2 sessions in November. 94 students took grade and Vocational grade exams, + 1 candidate took Licentiate exam Achieving the following results - Distinctions - 56 Merit - 33 Pass – 5
Anaya Vasudha Bolar who appeared for her Licentiate exam got awarded. She was the first Candidate to complete this exam in the Bharatanatyam category.
Arangetrams: We had One Arangetram of Shruti Mathew. This took place on 4th November 2024 at the performance space of The Elmhurst Ballet school.
We used local musicians. Singer K.S. Vasudha was invited privately by the parents. Pratap Ramachandra – Mridangam, Shashank Puranik – Flute and Nishanthan Rajkumar – Percussion.
We did couple of workshops in the community which were organised by Sampad.
Chitraleka Bolar was awarded MBE in the New Year’s honours list.
Samaagama : Our Annual Show took place on 24th March in The town Hall. Hema Ramnath manged to do most of the administration work for this with the venue. Subhash Viman worked on the event and backstage management. Anaya worked on all the choreography. Chitraleka’s MBE award was also celebrated at this event. India’s Consul general graced the occasion as chief guest.
We did few workshops in the community which were organised by Sampad
Page 2
Chitraleka Dance Company
Trustees' Report
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:
Trustees: Bhuvaneshwar Machani
Elspeth Insch Piali Ray Dennis Govindbhai Patel
Secretary: 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.
Page 3
Chitraleka Dance Company
Trustees' Report
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;
-
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.
Page 4
Chitraleka Dance Company
Trustees' Report
The annual report was approved by the trustees of the charity on 31 October 2024 and signed on its behalf by:
......................................... Sharad Bolar Company secretary
Page 5
Chitraleka Dance Company
Independent Examiner's Report to the trustees of Chitraleka Dance Company ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024.
Responsibilities and basis of report
As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner’s statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of Chitraleka Dance Company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
...................................... Barry Matthews FCA Chartered Accountants Bissell & Brown Birmingham Ltd
12 Portman Road Kings Heath Birmingham B13 0SL
31 October 2024
Page 6
Chitraleka Dance Company
Statement of Financial Activities for the Year Ended 31 March 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
| Note Income and Endowments from: Charitable activities 4 Investment income 5 Other income Sponsorship Total Income Expenditure on: Charitable activities 6 Total Expenditure Net expenditure Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 13 |
Unrestricted £ 75,918 121 558 7,550 84,147 (108,656) (108,656) (24,509) (24,509) 36,581 12,072 |
Total 2024 £ 75,918 121 558 7,550 84,147 (108,656) (108,656) (24,509) (24,509) 36,581 12,072 |
Total 2023 £ 46,363 22 5 - |
|---|---|---|---|
| 46,390 | |||
| (56,864) | |||
| (56,864) | |||
| (10,474) | |||
| (10,474) 47,055 |
|||
| 36,581 |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2023 is shown in note 13.
The notes on pages 9 to 12 form an integral part of these financial statements. Page 7
Chitraleka Dance Company
(Registration number: 3204442) Balance Sheet as at 31 March 2024
| Note Current assets Debtors 10 Cash at bank and in hand 11 Creditors: Amounts falling due within one year 12 Net assets Funds of the charity: Unrestricted income funds Unrestricted funds Total funds 13 |
2024 £ 485 32,801 33,286 (21,214) 12,072 12,072 12,072 |
2023 £ - 43,021 |
|---|---|---|
| 43,021 (6,440) |
||
| 36,581 | ||
| 36,581 | ||
| 36,581 |
For the financial year ending 31 March 2024 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 7 to 12 were approved by the trustees, and authorised for issue on 31 October 2024 and signed on their behalf by:
......................................... Bhuvaneshwar Machani Trustee
The notes on pages 9 to 12 form an integral part of these financial statements. Page 8
Chitraleka Dance Company
Notes to the Financial Statements for the Year Ended 31 March 2024
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
These financial statements were authorised for issue by the trustees on 31 October 2024.
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
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.
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.
Page 9
Chitraleka Dance Company
Notes to the Financial Statements for the Year Ended 31 March 2024
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.
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 donations and legacies
| Sponsorship Total for 2024 |
Unrestricted funds General £ 7,550 7,550 |
Total funds £ 7,550 |
|---|---|---|
| 7,550 |
4 Income from charitable activities
| Performances Exam fees income Teaching & workshops 5 Investment income Interest receivable and similar income; Interest receivable on bank deposits |
Unrestricted funds General £ 9,121 12,745 54,052 75,918 Unrestricted funds General £ 121 121 |
Total 2024 £ 9,121 12,745 54,052 |
|---|---|---|
| 75,918 | ||
| Total 2024 £ 121 |
||
| 121 |
Page 10
Chitraleka Dance Company
Notes to the Financial Statements for the Year Ended 31 March 2024
6 Expenditure on charitable activities
| Room hire Venue hire Production costs Artistic director Artist fees Exam fees Associate's salary Employers NI Computer costs Office admin Insurance Printing, postage & stationery Travel Accountancy General expenses Interest & Bank charges Total for 2024 Total for 2023 |
Unrestricted funds General £ 16,302 6,000 4,560 42,320 1,520 3,979 17,000 5,676 809 4,775 549 473 2,579 1,500 486 129 108,657 54,613 |
Restricted funds £ - - - - - - - - - - - - - - - - - 2,250 |
Total funds £ 16,302 6,000 4,560 42,320 1,520 3,979 17,000 5,676 809 4,775 549 473 2,579 1,500 486 129 |
|---|---|---|---|
| 108,657 | |||
| 56,863 |
7 Net incoming/outgoing resources
Net outgoing resources for the year include:
2024 £
8 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.
9 Taxation
The charity is a registered charity and is therefore exempt from taxation.
Page 11
Chitraleka Dance Company
Notes to the Financial Statements for the Year Ended 31 March 2024
10 Debtors
Trade debtors
2024 £ 485
Debtors includes £485 (2023: £Nil) receivable after more than one year.
| 2024 | ||
|---|---|---|
| £ | ||
| Trade debtors | 485 |
11 Cash and cash equivalents
| 11 Cash and cash equivalents | ||
|---|---|---|
| Cash at bank Short-term deposits |
2024 £ 22,611 10,190 32,801 |
2023 £ 32,952 10,069 |
| 43,021 |
12 Creditors: amounts falling due within one year
| 12 Creditors: amounts falling due within one year | ||
|---|---|---|
| Other taxation and social security Non-Trustees current accounts Other creditors Accruals |
2024 £ 3,030 12,612 2,024 3,548 21,214 |
2023 £ - 12,612 (10,472) 4,300 |
| 6,440 |
13 Funds
| Unrestricted funds General |
Balance at 1 April 2023 £ 36,581 |
Incoming resources £ 84,147 |
Resources expended £ (108,656) |
Balance at 31 March 2024 £ 12,072 |
|---|---|---|---|---|
Page 12