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||||Page|
|---|---|---|---|
|Reference and Administrative<br>Details ofthe Company,||its Trustees and Advisers||
|Trustees' Report|||2-9|
|Independent|Auditors'<br>Report on the Financial Statements||10-13|
|Consolidated|Statement of Financial Activities||14-15|
|Consolidated|Statement of Financial Position||16|
|Company<br>Statement ofFinancial Position|||17|
|Consolidated|Statement ofCash Flows||18|
|Notes to the|Financial Statements||19-44|





|Trustees|||G. F.Pine, chairman|G. F.Pine, chairman|||||||
|---|---|---|---|---|---|---|---|---|---|---|
||||S.A. Coen,|CEO, joint principal|||and accounting||officer ofsubsidiary|trading college|
||||L.de Abreu,|Joint principal ofsubsidiary||||trading|college||
||||S.J.Atkins||||||||
||||D.G. Hayes||||||||
||||J.P. Emery||||||||
||||N. Patel||||||||
||||S.R.Watson-Fowler|||(appointed|21 July|2020)|||
|Company|registered||||||||||
|number|||03636076||||||||
|Charity registered|||||||||||
|number|||1073945||||||||
|Registered||office|1 Bedford Row||||||||
||||London||||||||
||||WC1R 4BZ||||||||
|Company|secretary||S.C.R.Secretaries||Ltd||||||
|Chief executive officer|||S.A. Coen||||||||
|Independent||auditors|Venthams||||||||
||||Chartered<br>Accountants||||||||
||||Statutory<br>Auditor||||||||
||||51 Lincoln's|Inn Fields|||||||
||||London||||||||
||||WC2A 3NA||||||||
|Bankers|||Barclays Bank pic||||||||
||||Bexleyheath|Business||Centre|||||
||||Kent||||||||
|Solicitors|||Greenwoods|GRM|LLP||||||
||||1 Bedford Row||||||||
||||London||||||||
||||WC1R 4BZ||||||||





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||||Endowment|Restricted|Unrestricted|Total|Total|
|---|---|---|---|---|---|---|---|
||||funds|funds|funds|funds|funds|
||||2021|2021|2021|2021|2020|
|||Note|||6||E|
|Income||||||||
|Charitable<br>activities||5||200,470||200,470|176,298|
|Other trading<br>activities||||||||
|-subsidiary<br>turnover||6|||5,957,365|5,957,365|6,224,829|
|Other rental income|||||||394|
|Total income||||200,470|5,957,365|6,157,835|6,401,521|
|Expenditure<br>on:||||||||
|Expenses ofthe||||||||
|subsidiary<br>excluding||||||||
|rent paid - excluded|on|||||||
|consolidation|||||5,382,014|5,382,014|5,578,456|
|Charitable<br>activities:||8||||||
|Grants to support the||||||||
|performing<br>arts||||2,726||2,726|16,208|
|Interest on finance||||||||
|leases and deprecation||||||||
|on the related assets||||97,006||97,006|80,661|
|Governance<br>costs|||||16,256|16,256|13,008|
|Interest on bank||||||||
|loans|||||69,575|69,575|77,356|
|Total expenditure||||99,732|5,467,845|5,567,577|5,765,689|
|Net income forthe||||||||
|year (net movement<br>in funds)||||100,738|489,520|590,258|635,832|
|Reconciliation<br>of||||||||
|funds:||||||||
|Funds brought<br>forward|||1,755,035|828,103|2,146,275|4,729,413|4,093,581|
|Net income for the year||||||||
|(net movement<br>in||||||||
|funds)||||100,738|489,520|590,258|635,832|
|Funds carried<br>forward|||1,755,035|928,841|2,635,795|5,319,671|4,729,413|





## 



## 

## 

|||||2021||2020|
|---|---|---|---|---|---|---|
|||Note||F|||
|Fixed assets|||||||
|Tangible assets||12||7,938,947||6,854,64T|
|||||7,938,947||6,854,547|
|Current assets|||||||
|Stocks||15|21,493||22,856||
|Debtors||16|71,256||103,151||
|Cash at bank and|in hand||803,891||1,064,796||
||||896,640||1,190,803||
|Creditors: amounts|falling due within one||||||
|year||17|(877,627)||(843,169)||
|Net current assets Iliabilities||||19,013||347,634|
|Total assets less|current liabilities|||7,957,960||T,202,281|
|Creditors: amounts|falling due after more||||||
|than one year||18||(2,638,289)||(2,472,868)|
|Total net assets||||5,319,671||4,729,413|
|Charity funds|||||||
|Endowment<br>funds||19||1,755,035||1,755,035|
|Restricted<br>funds||19||928,841||828,103|
|Unrestricted<br>funds||19||2,635,795||2,146,275|
|Totalfunds||||5,319,671||4,729,413|





## 

## 

## 

|||||2021||2020|
|---|---|---|---|---|---|---|
|||Note||F|||
|Fixed assets|||||||
|Tangible assets||12||6,832,948||5,690,454|
|Investments||13||70,000||70,000|
|||||6,902,948||5,750,454|
|Current assets|||||||
|Debtors||16|50,000||94,590||
|Cash at bank and|in hand||363,743||468,249||
||||413,743||562,939||
|Creditors: amounts|falling due within one||||||
|year||17|(453,692)||(318,183)||
|Net current assets Iliabilities||||(39,949)||244,756|
|Total assets less|current liabilities|||6,862,999||5,005,210|
|Creditors: amounts|falling due after more||||||
|than one year||18||(2,638,289)||(2,472,868)|
|Total net assets||||4,224,710||3,532,342|
|Charity funds|||||||
|Endowment<br>funds||19||1,755,035||1,755,035|
|Restricted<br>funds||19||928,841||828,103|
|Unrestricted<br>funds||19||1,540,834||949,204|
|Totalfunds||||4,224,710||3,532,342|





## 

## 

|||||2021|2020|
|---|---|---|---|---|---|
|||||6||
|Cash flows from operating|activities|||||
|Net cash used<br>in operating|activities (see note 22)|||773,392|900,369|
|Cash flows from investing|activities|||||
|Purchase oftangible<br>fixed assets||||(76,676)|(157,955)|
|Additions<br>to investment<br>properties||||(1,176,895)|(270,314)|
|Net cash used in investing|activities|||(1,253,571)|(428,269)|
|Cash flows from financing|activities|||||
|Cash inilows from new borrowing||||575,729|2,000,000|
|Repayments<br>of bonowings|excluding<br>interest|||(356,455)|(1,871,480)|
|Net cash provided<br>by financing<br>activities||||219,274|128,520|
|Change<br>in cash and cash|equivalents<br>in the year|||(260,905)|600,620|
|Cash and cash equivalents|at the beginning|ofthe year||1,064,796|464,176|
|Cash and cash equivalents|at the end ofthe year (see note 23)|||803,891|1,064,796|
|The notes on pages 19to 44 form part ofthese financial|||statements|||





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||||||Restricted|Total|
|---|---|---|---|---|---|---|
||||||funds|funds|
||||||2021|2021|
||||||6|6|
|Support|ofthe performing|arts|||200,470|200,470|
|||||Restricted|Unrestricted|Total|
|||||funds|funds|funds|
|||||2020|2020|2020|
|||||||6|
|Support|ofthe performing|arts||175,998|300|176,298|
|Income|from other trading activities||||||
|Income|from non charitable||trading activities||||



|||||||Unrestricted|Total|
|---|---|---|---|---|---|---|---|
|||||||funds|funds|
|||||||2021|2021|
|||||||6||
|Income ofthe subsidiary-||ofa charitable|nature as the supply||ofeducation|||
|in the performing|arts but|as the Subsidiary||is not a charitable|entity this is|||
|treated as trading|income|||||5,957,365|5,957,365|
|||||||Unrestricted|Total|
|||||||funds|funds|
|||||||2020|2020|
|Income ofthe subsidiary-||ofa charitable|nature as the supply||ofeducation|||
|in the performing|arts but|as the Subsidiary||is not a charitable|entity this is|||
|treated as trading|income|||||6,224,829|6,224,829|





## 

## 

## 

## 

||Unrestricted|Total|
|---|---|---|
||funds|funds|
||2021f|2021f|
|Auditors'<br>remuneration|5,400|5,400|
|Auditors'<br>non audit costs|5,400|5,400|
|Legal costs|5,241|5,241|
|Bank charges|215|215|
|Total2021|16,256|16,256|
||Unrestricted|Total|
||funds|funds|
||2020f|2020f|
|Auditors'<br>remuneration|4,500|4,500|
|Auditors'<br>non audit costs|4,500|4,500|
|Legal costs|3,767|3,767|
|Bank charges|241|241|
|Total 2020|13,008|13,008|





## 

## 

## 

## 

## 

||||||Restricted|Unrestricted|Total|
|---|---|---|---|---|---|---|---|
||||||funds|funds|funds|
||||||2021|2021|2021|
||||||F|6|6|
|Support ofthe performing|arts including|governance||costs|2,726|16,256|18,982|
|Interest on bank loans||||||69,575|69,575|
|Interest on finance leases|and deprecation||on the related|||||
|assets|||||97,006||97,006|
|Total2021|||||99,732|65,631|185,563|
||||||Restricted|Unrestricted|Total|
||||||funds|funds|funds|
||||||2020|2020|2020|
||||||||6|
|Support ofthe performing|arts including|governance||costs|5,163|24,053|29,216|
|Interest on bank loans||||||77,356|77,356|
|Interest on finance leases|and deprecation||on the related|||||
|assets|||||80,661||80,661|
|Total 2020|||||85,624|101,409|187,233|





## 

## 

## 

||||||2021|2020|
|---|---|---|---|---|---|---|
||||||E|E|
|Fees|payable|to the Company's|auditor|for the audit ofthe Company's|||
|annual|accounts||||5,400|3,900|
|Fees|payable|to the Company's|auditor|in respect of:|||
|non-audit<br>services not included|||above||5,400|3,900|



## 

||||||Group|Group|
|---|---|---|---|---|---|---|
||||||2021|2020|
||||||E||
|The staff costs incurred||by the|subsidiary|were as follows:|||
|Wages and|salaries||||3,592,065|3,687,016|
|Social security costs|||||310,477|320,060|
|Contribution|to defined contribution||pension|schemes|189,237|203,863|
||||||4,091,779|4,210,959|



||||Group|Group|Company|Company|
|---|---|---|---|---|---|---|
||||2021|2020|2021|2020|
||||No.|No.|No.|No.|
|Directors ofthe subsidiary|||2|2|||
|Other key management||personnel|3|3|||
|Teaching staff|||51|62|||
|Non teaching staff|||27|31|||
|Non-executive|directors|of both The|||||
|Foundation<br>and The College|||||||
|Non executive|directors|of The Foundation|||||
||||89|104|||





## 

## 

## 

|Group|Group|
|---|---|
|2021|2020|
|No.|No.|



## 

||||||2021|2020|
|---|---|---|---|---|---|---|
||||||E||
|S.A.|Coen|Remuneration|||118,210|121,138|
|||Pension|contributions|paid|17,978|21,230|
|L.de|Abreu|Remuneration|||100,510|100,758|
|||Pension|contributions|paid|12,626|19,779|





## 

## 

## 

## 

## 

|||||Costumes,||Plant,||
|---|---|---|---|---|---|---|---|
|||Long-term|Short-term|props and||equipment||
|||leasehold|leasehold|instrument|Motor|and||
|||property|property|8|vehicles|fixtures|Total|
|||F|F|F|F|||
|Cost or valuation||||||||
|At 1 August 2020||5,727,218|1,285,441|577,923|39,184|574,753|8,204,519|
|Additions||1,176,895|36,518|12,845||27,313|1,253,571|
|Disposals||||(353,999)||(14,473)|(368,472)|
|Transfers|between|||||||
|classes||||7,885||(7,885)||
|At 31 July|2021|6,904,113|1,321,959|244,654|39,184|579,708|9,089,618|
|Depreciation||||||||
|At 1 August 2020||36,764|462,242|475,455|21,501|353,910|1,349,872|
|Charge for the year||34,401|37,783|19,733|3,537|45,308|140,762|
|On disposals||||(332,079)||(7,884)|(339,963)|
|Transfers|between|||||||
|classes||||2,609||(2,609)||
|At 31 July|2021|71,165|500,025|165,718|25,038|388,725|1,150,671|
|Net book|value|||||||
|At 31 July|2021|6,832,948|821,934|78,936|14,146|190,983|7,938,947|
|At 31Ju/y|2020|5,690,454|823,199|102,468|17,583|220,843|6,854,547|
|Company||||||||



||Long-term|
|---|---|
||leasehold|
||property|
|Cost or valuation||
|At 1 August 2020|5,727,218|
|Additions|1,176,895|
|At 31 July 2021|6,904,113|





## 

|12.|Tangible fixed assets (continued)||
|---|---|---|
||Company<br>(continued)||
|||Long-term|
|||leasehold|
|||propertyf|
||Depreciation||
||At 1 August 2020|36,764|
||Charge for the year|34,401|
||At 31 July 2021|71,166|
||Net book value||
||At 31 July 2021|6,832,948|
||At 31Ju/y 2020|5,690,454|





## 

## 

||Investments|
|---|---|
||in|
||subsidiary|
|Company|companiesf|
|Cost or valuation||
|At 1 August 2020|70,000|
|At 31July 2021|70,000|



## 

||Name||||Company|Company|Registered|office or principal|office or principal|Principal|Principal|activity|
|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||number||place ofbusiness||||||
||The Doreen||Bird College of||03088287||1 Bedford|Row, London,|WCR1|Performing||Arts|
||Performing|Arts Limited|||||4BZ|||College|||
||Class of||Holding|Included||in|||||||
||shares|||consolidation|||||||||
||Ordinary||100%|Yes|||||||||
||The financial||results ofthe subsidiary|||for the|year were:||||||
||Name||||||Income<br>Expenditure||Profit for||Net assets||
|||||||||excluding|the|year|||
|||||||||Gift Aid|before|Gift|||
|||||||||payment||Aid|||
|||||||||F|payment||||
|||||||||||F|||
||The Doreen||Bird College|of Performing|||5,957,365|5,682,014|275,351|||1,164,961|
||Arts Limited||||||||||||
|15.|Stocks||||||||||||
|||||||||||Group||Group|
|||||||||||2021||2020|
||||||||||||6|E|
||Goods for resale ofthe subsidiary|||||||||21,493||22,856|





## 

## 

## 

||||Group|Group|Company|Company|
|---|---|---|---|---|---|---|
||||2021|2020|2021|2020|
||||6||f||
|Due within one year|||||||
|Trade debtors|||8,501|14,151|||
|Amounts<br>owed by group undertakings||||||94,690|
|Other debtors|||12,190|13,012|||
|Prepayments|and accrued income||50,565|75,988|50,000||
||||71,256|103,151|50,000|94,690|
|Creditors: Amounts||falling due within one year|||||
||||Group|Group|Company|Company|
||||2021f|2020|2021<br>6|2020f|
|Bank loans|||127,054|153,691|127,054|153,691|
|Trade creditors|||57,714|80,627|||
|Amounts<br>owed to group undertakings|||||79,258||
|Other taxation|and social security||111,333|111,622|||
|Obligations<br>under finance leases|||240,180|159,690|240,180|159,690|
|Other creditors|||66,758|69,204|||
|Accruals and|deferred|income|274,588|268,335|7,200|4,802|
||||877,627|843,169|453,692|318,183|



## 



## 

## 

## 

|||Group|Group|Company|Company|
|---|---|---|---|---|---|
|||2021|2020|2021|2020|
|||6||6||
|Bank loans||1,988,656|2,116,172|1,988,656|2,116,172|
|Obligations|under finance leases|649,633|356,696|649,633|356,696|
|||2,638,289|2,472,868|2,638,289|2,472,868|





## 

## 

## 

|Statement|offund|s|- current|year|||||
|---|---|---|---|---|---|---|---|---|
|||||Balance at 1|||Transfers|Balance at|
|||||August 2020|Income|Expenditure|in/out|31July 2021|
||||||5|F|5|5|
|Unrestricted|funds||||||||
|Other unrestricted||reserves-|||||||
|balance on|profit and||loss||||||
|account and|retained||earnings|2,098,739|5,957,365|(5,467,845)|7,427|2,595,686|
|Revaluation|reserve||ofthe||||||
|subsidiary||||47,536|||(7,427)|40,109|
|||||2,146,275|5,957,365|(5,467,845)||2,635,795|
|Endowment|funds||||||||
|Endowment|Funds|-|all funds|1,755,035||||1,755,035|
|Restricted|funds||||||||
|Conditional|donations|||4,540||(2,726)||1,814|
|Alma Road|Site|||823,563|200,470|(97,006)||927,027|
|||||828,103|200,470|(99,732)||928,841|
|Total offunds||||4,729,413|6,157,835|(5,567,577)||5,319,671|





## 

## 

## 

|Statement offunds|Statement offunds|Statement offunds|(continued)||||||
|---|---|---|---|---|---|---|---|---|
|Statement offunds|||- prior year||||||
|||||Balance at|||||
|||||1August|||Transfers|Balance at|
|||||2019|Income|Expenditure|infout|31Ju/y 2020|
|Unrestricted|funds||||||||
|Other unrestricted||funds-|||||||
|balance on|profit and||loss||||||
|account and|retained||earnings|1,458,298|6,225,523|(5,679,865)|94,783|2,098,739|
|Revaluation|reserve||ofthe||||||
|subsidiary||||142,319|||(94,783)|47,536|
|||||1,600,617|6,225,523|(5,679,865)||2,146,275|
|Endowment|funds||||||||
|Endowment|Funds|-|all funds|1,755,035||||1,755,035|
|Restricted|funds||||||||
|Conditional|donations|||9,703||(5,163)||4,540|
|Alma Road|Site|||728,226|175,998|(80,661)||823,563|
|||||737,929|175,998|(85,824)||828,103|
|Total offunds||||4,093,581|6,401,521|(5,765,689)||4,729,413|





## 

## 



## 

## 

## 

|Analysis|ofn|et assets between funds - c|urrent year||||
|---|---|---|---|---|---|---|
||||Endowment|Restricted|Unrestricted|Total|
||||funds|funds|funds|funds|
||||2021|2021|2021|2021|
||||6|F|8|6|
|Tangible|fixed|assets|1,755,035|1,816,840|4,367,072|7,938,947|
|Current|assets|||1,814|894,826|896,640|
|Creditors|due within one year|||(240,180)|(637,447)|(877,627)|
|Creditors|due|in more than one year||(649,633)|(1,988,656)|(2,638,289)|
|Total|||1,755,035|928,841|2,635,795|5,319,671|
|Analysis|ofnet assets between funds - prior year||||||
||||Endowment|Restricted|Unrestricted|Total|
||||funds|funds|funds|funds|
||||2020<br>E|2020<br>f|2020<br>E|2020<br>E|
|Tangible|fixed|assets|1,755,035|1,339,949|3,759,663|6,854,647|
|Current|assets|||4,540|1,186,263|1,190,803|
|Creditors|due|within one year||(159,690)|(683,479)|(843,169)|
|Creditors|due|in more than one year||(356,696)|(2,116,172)|(2,472,868)|
|Total|||1,755,035|828,103|2,146,275|4,729,413|





## 

## 

## 

||||||||||||Group|Group|
|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||||2021|2020|
||||||||||||6||
||Net income for|||the year (as per|||Statement|of Financial|Activities)||590,258|635,832|
||Adjustments||for:||||||||||
||Depreciation||and losses on disposal||||||||169,271|269,730|
||Decrease|in|stocks||||||||1,363|1,393|
||Decrease|in|debtors||||||||31,895|5,977|
||Increase/(decrease)||||in|creditors|other than|loans and|finance|leases|(19,395)|(12,553)|
||Net cash|flow||from|operating||activities||||773,392|900,369|
|23.|Analysis|of|cash and|||cash equivalents|||||||
||||||||||||Group|Group|
||||||||||||2021|2020|
||||||||||||6|E|
||Cash<br>in hand||||||||||803,891|1,064,796|
||Total cash and|||cash||equivalents|||||803,891|1,064,796|
|24.|Analysis|of|changes|||in net debt|||||||
|||||||||At 1 August|||New finance|At 31July|
||||||||||2020|Cash flows|leases|2021|
|||||||||||F|6|6|
||Cash at bank||and in||hand|||1,064,796||(260,905)||803,891|
||Debt due|within||1 year||||(153,691)||26,637||(127,054)|
||Debt due|after||1 year||||(2,116,172)||127,516||(1,988,656)|
||Finance leases|||||||(516,386)|||(373,427)|(889,813)|
|||||||||1,064,796|||(373,427)|691,369|





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