REGISTERED COMPANY NUMBER: 05676918 (England and Wales)
REGISTERED CHARITY NUMBER: 1113593
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
FOR
PARAISO SCHOOL OF SAMBA
PARAISO SCHOOL OF SAMBA
CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31 March 2024
| Page | Page | ||
|---|---|---|---|
| Report ofthe Trustees | 1 | to | 4 |
| Independent Examiner's Report | 5 | ||
| Statement of Financial Activities | 6 | ||
| Balance Sheet | 7 | to | 8 |
| Notes to the Financial Statements | 9 | to | 16 |
| DetailedStatementofFinancialActivities | 17 | to | 18 |
PARAISO SCHOOL OF SAMBA
REPORT OF THE TRUSTEES for the Year Ended 31 March 2024
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
EXECUTIVE SUMMARY
-
This report describes the activities Paraiso School of Samba carried out in the year ended 31 2. March 2024 to achieve our charitable purposes and how this has been done for public benefit. Our grant from Arts Council England, together with income from our fund-raising activities, enabled us to deliver: - Major carnivals and events including Notting Hill Carnival and Luton International Carnival.
-
Almost 200 public open-access samba dance and percussion workshops - maintaining Our position as the largest provider of samba workshops in the UK.
-
-
- _ Visits to the UK by leading carnival artists from Rio de Janeiro. We provided in-kind support to the disabled carnival group Paracarnival.
-
-
Wereceived a grant of £116,458 in this year as a National Portfolio Organisation of Arts Council England.
-
We would like to thank our funders, donors, volunteers, and all those who participated in and attended our events.
OBJECTIVES AND ACTIVITIES
Objects and aims
a. Objects and aims
The Objects of Paraiso School of Samba are "to advance education for the public benefit through the promotion of the arts with particular but not exclusive reference to samba culture, music, dance and carnival arts in the tradition of Rio de Janeiro, Brazil".
b. Activities for achieving objects
The main activities undertaken to achieve these objects are:
-
Open access workshops to teach samba dance and percussion;
-
public performances at carnivals, events and festivals;
-
- participation in major festivals and events such as Notting Hill Carnival;
-
outreach projects with young and disadvantaged people;
-
costume design and costume making;
-
float design and construction;
-
development of technical aspects of performances;
-
assisting artistic development of other groups.
Page 1
PARAISO SCHOOL OF SAMBA
REPORT OF THE TRUSTEES for the Year Ended 31 March 2024
OBJECTIVES AND ACTIVITIES
Significant activities
In the year 2023-2024 these comprised the following:
Major performances:
- Notting Hill Carnival - Luton International Carnival
Paraiso Workshops:
We provided about 200 samba dance and percussion workshops during the year 2023-24 with more than 2,000 attendances.
Visiting Artists:
We brought over to London the Brazilian artist Wantuir Tavares who has been the official singer for several of Rio de Janeiro's top samba schools. He took part in Paraiso's workshops and pre-carnival events and also sang on the streets of Notting Hill in the Paraiso carnival parade.
Public benefit
The Trustees have paid due regard to the Charity Commission's guidance on public benefit in deciding the activities of Paraiso School of Samba.
Participation in our activities is open to all and no membership is required. We provide a range of discounts for under 25s to enable and encourage them to take part in workshops.
Our activities encourage the public to learn and understand Rio de Janeiro carnival culture by a) Participation - teaching music, dance, percussion and carnival arts with a focus on taking part in carnival parades;
b) Performance - audiences at carnivals and other events see a culturally authentic performance.
FINANCIAL REVIEW
Principal funding sources
This year we received substantial support amounting to £116,458 from Arts Council England (ACE) as one of its National Portfolio Organisations (NPO) for which we are very grateful. Together with income from our workshops, this ACE support enabled us to deliver samba dance and percussion workshops as well as parades and performances in London and other UK cities.
The NPO funding agreement with ACE covering the period of these accounts started on 1 April 2023. It requires us to consider relocating to outside London and we have been awarded additional funding by ACE of £11,890 to research the feasibility of relocating. Our plan is to relocate to Luton where we have longstanding relationships and this additional funding will enable us to confirm this makes sense.
At the time of writing this report, we have completed the feasibility study, decided to relocate and have moved our registered office to Luton. Whilst we will now start developing additional activities in Luton, we will be maintaining our London activities. We now know that our ACE funding of £116,458/year will continue until at least 31 March 2026.
Page 2
PARAISO SCHOOL OF SAMBA
REPORT OF THE TRUSTEES for the Year Ended 31 March 2024
FINANCIAL REVIEW
Reserves policy
The Trustees seek to build up an appropriate level of reserves to provide for ongoing administration costs and to fund expenditure on costumes design and construction for which income is generated later in the year, and to help stability of the organisation.
Loans
Paraiso School of Samba received a gift in 2006 for the purposes of making a long term loan to Paraiso Samba Limited for the purchase of a vehicle, plant and equipment.
FUTURE PLANS
Our Arts Council England support will continue until at least 31 March 2026 and this will provide us with financial security. This will enable us to continue our work as an Arts Council England National Portfolio Organisation and to start development of our activities in Luton.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Recruitment and appointment of new trustees
Trustees are recruited from within the voting membership. Trustee job descriptions are circulated in advance of the Annual General Meeting at which Trustees are elected.
Organisational structure and decision making
The Trustees meet regularly to administer the charity. They focus on the overall objects of the charity and how these should be achieved, and on the overall strategy of the organisation. The Trustees delegate the artistic direction of the organisation to a separate committee within a budget, general rules and performance targets set by the Trustees. This committee is led by artists who have grown up in the Rio de Janeiro carnival culture.
Day-to-day operations are carried out by professional artists supported by volunteers. Paraiso School of Samba is a company limited by guarantee and is a registered charity. Paraiso School of Samba is the sole shareholder and sole director of Paraiso Samba Limited, a company limited by shares which carries out performances and other activities and gifts its profits to Paraiso School of Samba at the end of each year.
Paraiso School of Samba is the sole member of Paraiso Limited, a company limited by guarantee, formed to protect the Paraiso name. Paraiso Limited is dormant and has no assets. Paraiso School of Samba owns the trademark PARAISO registered in the UK.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The Trustees maintain a risk register and regularly review this.
Page 3
PARAISO SCHOOL OF SAMBA
REPORT OF THE TRUSTEES for the Year Ended 31 March 2024
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number 05676918 (England and Wales)
Registered Charity number 1113593
Registered office 3 St Mary’s Road Luton LU1 3JA
Trustees
J Black A de Sousa Silva (appointed 11 July 2023) R B Sleeman (appointed 7 December 2023) P D Willmott (appointed 7 December 2023) B Fernandez (appointed 7 December 2023) L Afric (appointed 1 October 2024)
F MP Lins resigned as a trustee on 11 July 2023, E N Y Opoku resigned asa trustee on 11 July 2023 and P E R da Silva resigned as a trustee on 7 December 2023. M Ribas was appointed as a trustee on 7 December 2023 and resigned on 9 June 2024.
Company Secretary
R N Galbraith resigned as company secretary on 30 April 2023.
REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner J Pomroy Pomroy Associates Ltd 14a Meadway Court Rutherford Close Stevenage Hertfordshire SG1 2EF
Approved by order of the board of trustees on Jodec 2024 and signed on its behalf by:
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}
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J Black — Trustee
Page 4
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PARAISO SCHOOL OF SAMBA
Independent examiner's report to the trustees of Paraiso School of Samba (‘the Company’) | 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, | 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 | have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
| have completed my examination. | 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 the Company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or 3. 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)).
| 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.
J Pomroy Pomroy Associates Ltd 14a Meadway Court Rutherford Close Stevenage Hertfordshire SG1 2EF
29 November 2024
Page 5
PARAISO SCHOOL OF SAMBA
STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 March 2024
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||||||||
|---|---|---|---|---|---|---|
|2024|2023|
|Unrestricted|Restricted|Total|Total|
|fund|funds|funds|funds|
|Notes|£|£|£|£|
|INCOME|AND|ENDOWMENTS|FROM|
|Donations and|legacies|68,590|-|68,590|33,682|
|Charitable|activities|
|Classes|and|performances|27,315|-|27,315|35,928|
|Other trading|activities|2|-|-|-|550|
|Investment|income|3|2|-|2|-|
|Other|income|-|-|-|-|
|Total|95,907|-|95,907|70,160|
|EXPENDITURE|ON|
|Raising|funds|4|-|-|-|-|
|Charitable|activities|
|Classes|and|performances|89,011|-|89,011|78,637|
|Other|1,260|-|1,260|1,216|
|Total|90,271|-|90,271|79,853|
|NET INCOME/(EXPENDITURE)|5,636|-|5,636|(9,693)|
|RECONCILIATION|OF|FUNDS|
|Total|funds|brought forward|8,956|-|8,956|18,649|
|TOTAL FUNDS|CARRIED|FORWARD|14,592|-|14,592|8,956|
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Page 6
PARAISO SCHOOL OF SAMBA
BALANCE SHEET
31 March 2024
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|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|2024|2023|
|Unrestricted|Restricted|Total|Total|
|fund|funds|funds|funds|
|Notes|£|£|£|£|
|FIXED ASSETS|
|Tangible|assets|7|641|-|641|754|
|Investments|8|29,000|-|29,000|29,000|
|29,641|-|29,641|29,754|
|CURRENT ASSETS|
|Debtors|9|9,938|-|9,938|3,947|
|Cash|at bank|and|in|hand|3,433|10,701|14,134|2,812|
|13,371|10,701|24,072|6,759|
|CREDITORS|
|Amounts|falling|due|within|one year|10|(28,420)|(10,701)|(39,121)|(27,557)|
|NET CURRENT ASSETS/(LIABILITIES)|(15,049)|:|(15,049)|(20,798)|
|TOTAL ASSETS|LESS|CURRENT|
|LIABILITIES|14,592|-|14,592|8,956|
|NET ASSETS/(LIABILITIES)|14,592|:|14,592|8,956|
|FUNDS|11|
|Unrestricted|funds|14,592|8,956|
|Restricted|funds|-|-|
|TOTAL FUNDS|14,592|8,956|
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TOTAL FUNDS
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
Page 7
PARAISO SCHOOL OF SAMBA
BALANCE SHEET - continued 31 March 2024
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees on !ODecember 2024 and were signed on its behalf by:
|(e)
J Black - Trustee
Page 8
PARAISO SCHOOL OF SAMBA
NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 March 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)’, Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed to the projects. Gifts donated for resale are included in income when they are sold. Donated facilities are included at the value to the company where this can be quantified and a third party is bearing the cost. No amounts are included in the financial statements for services donated by volunteers.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of donation. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Company status
The company is a company limited by guarantee. The members of the company are the Trustees named in the Trustees report. In the event of the company being wound up, the liability in respect of the guarantee is limited to £10 per member of the company.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Page 9
PARAISO SCHOOL OF SAMBA
NOTES TO THE FINANCIAL STATEMENTS- continued for the Year Ended 31 March 2024
1. ACCOUNTING POLICIES - continued
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery
- at varying rates
Tangible fixed assets are stated at cost less accumulated depreciation and any recognised impairment loss.
The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are reassessed annually. They are amended when necessary to reflect current estimates, future investments and the physical condition of the assets
All assets costing more than £200 are capitalised.
Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes.
Designated funds comprise of restricted funds that have been set aside by the Trustees for particular purposes.
Investment income, gains and losses are allocated to the appropriate fund.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements where necessary.
Investments
Investments are stated at market value at the balance sheet date except for investments in group undertakings which are valued at cost less provision for impairments.
The SOFA included net gains and losses arising on revaluations and disposals of investments throughout the year.
- OTHER TRADING ACTIVITIES
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Sale of goods
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----- Start of picture text -----
2024 2023
£ £
- 550
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Page 10
PARAISO SCHOOL OF SAMBA
NOTES TO THE FINANCIAL STATEMENTS- continued for the Year Ended 31 March 2024
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3. INVESTMENT INCOME
2024 2023
£ £
Investment income 2 - :
4. RAISING FUNDS
Raising donations and legacies
2024 2023
£ £
Support costs : -
5. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
2024 2023
£ £
Depreciation - owned assets 113 155
Independent examiner fee 1,260 1,216
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6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees’ remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.
Trustees’ expenses
There were no trustees’ expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.
Page 11
PARAISO SCHOOL OF SAMBA
NOTES TO THE FINANCIAL STATEMENTS- continued for the Year Ended 31 March 2024
| 7. | TANGIBLE FIXED ASSETS | ||
|---|---|---|---|
| Plant and | |||
| machinery | |||
| £ | |||
| COST | |||
| At1 April 2023 | 6,926 | ||
| At 31 March 2024 | 6,926 | ||
| DEPRECIATION | |||
| At 1 April 2023 | 6,172 | ||
| Charge foryear | 113 | ||
| At 31 March 2024 | 6,285 | ||
| NETBOOKVALUE | |||
| At 31 March 2024 | 641 | ||
| At 31 March 2023 | 754 | ||
| 8. | FIXED ASSET INVESTMENTS | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Shares | 100 | 100 | |
| Loans | 28,900 | 28,900 | |
| 29,000 | 29,000 | ||
| Shares in | |||
| group | |||
| undertakings | |||
| £ | |||
| MARKETVALUE | |||
| At 1 April 2023 and 31 March 2024 | 100 | ||
| NET BOOKVALUE | |||
| At 31 March 2024 | 100 | ||
| At31March2023 | 100 |
Page 12
PARAISO SCHOOL OF SAMBA
NOTES TO THE FINANCIAL STATEMENTS- continued for the Year Ended 31 March 2024
8. FIXED ASSET INVESTMENTS- continued
At 1 April 2023 and 31 March 2024
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Loans to
group
undertakings
£
28,900
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There were no investment assets outside the UK.
No interest is chargeable on the loan.
The company's investments at the balance sheet date in the share capital of companies include the following:
Paraiso Samba Limited Registered office:
Nature of business: Raising funds
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|||||||
|---|---|---|---|---|---|
|%|
|Class|of share:|holding|
|Ordinary|100|
|31.3.24|31.3.23|
|£|£|
|Aggregate|capital|and|reserves|1,905|1,062|
|Profit(Loss)|for the year|843|(7,916)|
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Paraiso School of Samba is also the sole Member of Paraiso Limited, a company limited by guarantee. Paraiso Limited is dormant and has no assets.
9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
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|||||||
|---|---|---|---|---|---|
|2024|2023|
|£|£|
|Trade|debtors|89|3|
|Other debtors|2,963|1,414|
|Prepayments|and|accrued|income|6,886|2,530|
|9,938|3,947|
|10.|CREDITORS:|AMOUNTS|FALLING|DUE WITHIN|ONE YEAR|
|2024|2023|
|£|£|
|Trade|creditors|4,853|6,508|
|Amounts owed|to|group|undertakings|12,227|13,673|
|Other|creditors|and|accruals|22,041|7,376|
|39,121|27,557|
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Page 13
PARAISO SCHOOL OF SAMBA
NOTES TO THE FINANCIAL STATEMENTS- continued
for the Year Ended 31 March 2024
| 11. | MOVEMENT IN FUNDS | |||||
|---|---|---|---|---|---|---|
| Net | ||||||
| movement | At | |||||
| At | 1.4.23 | in funds | 31.3.24 | |||
| £ | £ | £ | ||||
| Unrestricted funds | ||||||
| General fund | 8,956 | 5,636 | 14,592 | |||
| Restricted funds | ||||||
| Feasibility study | - | : | : | |||
| TOTALFUNDS | 8,956 | 5,636 | 14,592 | |||
| Net movement in funds, included in the above areas follows: | ||||||
| Incoming | Resources | Movement | ||||
| resources | expended __ | in funds | ||||
| £ | £ | £ | ||||
| Unrestricted funds | ||||||
| General fund | 95,907 | (90,271) | 5,636 | |||
| Restricted funds | ||||||
| Feasibilitystudy | - | - | - | |||
| TOTAL FUNDS | 95,907 | (90,271) | 5,636 | |||
| Comparatives formovement in funds | ||||||
| Net | ||||||
| movement | At | |||||
| At | 1.4.22 | in funds | 31.3.23 | |||
| £ | £ | £ | ||||
| Unrestricted funds | ||||||
| General fund | 18,649 | (9,693) | 8,956 | |||
| Restricted funds | ||||||
| Feasibility study | - | - | - | |||
| TOTALFUNDS | 18,649 | (9,693) | 8,956 | |||
| Page | 14 |
PARAISO SCHOOL OF SAMBA
NOTES TO THE FINANCIAL STATEMENTS- continued for the Year Ended 31 March 2024
11. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
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||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|Incoming|Resources|Movement|
|resources|expended|__|in funds|
|£|£|£|
|Unrestricted|funds|
|General|fund|70,160|(79,853)|(9,693)|
|Restricted|funds|
|Feasibility|study|-|-|-|
|TOTAL FUNDS|70,160|(79,853)|(9,693)|
|A|current|year|12|months|and|prior year year|12|months combined|position|is|as|follows:|
|Net|
|movement|At|
|At|1.4.22|in|funds|31.3.24|
|£|£|£|
|Unrestricted|funds|
|General|fund|18,649|(4,057)|14,592|
|Restricted|funds|
|Feasibility|study|-|-|-|
|TOTAL FUNDS|18,649|(4,057)|14,592|
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A current year 12 months and prior year year 12 months combined position is as follows:
Page 15
PARAISO SCHOOL OF SAMBA
NOTES TO THE FINANCIAL STATEMENTS- continued for the Year Ended 31 March 2024
11. MOVEMENT IN FUNDS- continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
Unrestricted funds General fund Restricted funds Feasibility study
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Incoming Resources Movement
resources expended __ in funds
£ £ £
166,067 (170,124) (4,057)
- - -
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TOTAL FUNDS
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166,067 (170,124) (4,057)
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Restricted funds represent a restricted income fund relating to a grant to research the feasibility of relocating to Luton. Part of the grant was received in advance during the year ended 31 March 2024 for research carried out after the year end.
12. RELATED PARTY DISCLOSURES
During the year, £34,400 (2023 - £34,400) and £60 (2023 - £440) was charged by P HR da Silva, for artistic direction fees and dance classes respectively. At 31 March 2024, £0 (2023 - £4,970) was owed to P H R da Silva. PHR da Silva is the brother of P E R da Silva, a trustee. During the year, £60 (2023 - £0) was charged by P E R da Silva, a trustee, for dance classes. At 31 March 2024 £0 (2023 - £0) was owed to P E R da Silva.
Page 16
PARAISO SCHOOL OF SAMBA
DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 March 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| INCOMEAND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 3,132 | 2,724 |
| Grants | 65,458 | 30,958 |
| 68,590 | 33,682 | |
| Othertrading activities | ||
| Sale ofgoods | - | 550 |
| Investment income | ||
| Investment income | 2 | - |
| Charitable activities | ||
| Classesand workshops | 16,290 | 21,538 |
| Carnival registrations | 10,625 | 14,390 |
| Performance feesand admissions | 400 | - |
| 27,315 | 35,928 | |
| Other income | ||
| Miscellaneous income | - | - |
| Total incoming resources | 95,907 | 70,160 |
| EXPENDITURE | ||
| Othertrading activities | ||
| Costofgoods sold | - | 40 |
| Charitable activities | ||
| Production fees | 48,747 | 47,295 |
| Other production costs | 13,116 | 10,787 |
| Rent | 15,670 | 12,808 |
| Marketing | 360 | 116 |
| Motorand travel expenses | 6,175 | 4,725 |
| Insurance, licences and permits | 1,020 | 1,158 |
| Bad debts Foreign exchange losses |
- 956 |
(9) 82 |
| Carriedforward | 86,044 | 76,962 |
Page 17
PARAISO SCHOOL OF SAMBA
DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 March 2024
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|||||||
|---|---|---|---|---|---|
|2024|2023|
|£|£|
|Charitable|activities|
|Brought forward|86,044|76,962|
|Repairs|and|maintenance|-|78|
|Depreciation|of tangible|fixed|assets|113|155|
|86,157|77,195|
|Support|costs|
|Other|
|Bookkeeping|fees|1,185|-|
|Governance|costs|
|Sundries|1,669|1,402|
|Accountancy|and|legal|fees|1,260|1,216|
|2,929|2,618|
|Total|resources|expended|90,271|79,853|
|Net income/(expenditure)|5,636|(9,693)|
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Registered number: 05732752
PARAISO SAMBA LTD DIRECTORS' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
Paraiso Samba Ltd Contents
ae
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|Page|
|Company|Information|1|
|Directors'|Report|2|
|Accountant's|Report|3|
|Profit and|Loss Account|4|
|Balance|Sheet|5—6|
|Notes|to|the|Financial|Statements|7—9|
|The|following|pages|do|not form|part|of the|statutory|accounts:|
|Trading|Profit and|Loss Account|10|
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Paraiso Samba Ltd Company Information For The Year Ended 31 March 2024
Directors Paraiso School of Samba Mr Paulo Henrique Rodrigues Da Silva Company Number 05732752
Registered Office 10 Chalcot Square London NW1 8YB Accountants Pomroy Associates Ltd 14a Meadway Court Rutherford Close Stevenage Hertfordshire SG1 2EF
Page 1
Paraiso Samba Ltd Company No. 05732752 Directors’ Report For The Year Ended 31 March 2024
ee
The directors present their report and the financial statements for the year ended 31 March 2024.
Directors
The directors who held office during the year were as follows: Paraiso School of Samba
Mr Paulo Henrique Rodrigues Da Silva
Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
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On behalf of the bo
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Mr Paulo Henrique Rodrigues Da Silva
Director
Date ofiz/2or &
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Paraiso Samba Ltd Accountant's Report For The Year Ended 31 March 2024
Report to the directors on the preparation of the unaudited statutory accounts of Paraiso Samba Ltd for the year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Paraiso Samba Ltd for the year ended 31 March 2024 which comprise the Profit and Loss Account, the Balance Sheet, and the related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Chartered Institute of Management Accountants, we are subject to its ethical and other professional requirements which are detailed at http:/Awww.cimaglobal.com.
This report is made solely to the directors of Paraiso Samba Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Paraiso Samba Ltd and state those matters that we have agreed to state to the directors of Paraiso Samba Ltd in this report in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http:/Avww.cimaglobal.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.
It is your duty to ensure that Paraiso Samba Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Paraiso Samba Ltd. You consider that Paraiso Samba Ltd 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 financial statements of Paraiso Samba Ltd. 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 financial statements.
Signed
Date
Pomroy Associates Ltd 14a Meadway Court Rutherford Close Stevenage Hertfordshire SG1 2EF
Page 3
Paraiso Samba Ltd Profit and Loss Account For The Year Ended 31 March 2024
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|---|---|---|---|---|
|2024|2023|
|Notes|£|£|
|TURNOVER|1,500|1,700|
|Cost|of sales|(9,173)|(15,153)|
|GROSS|LOSS|(7,673)|(13,453)|
|Administrative|expenses|(42,467)|(24,963)|
|Other operating|income|51,000|30,500|
|OPERATING|PROFIT/(LOSS)|860|(7,916)|
|Interest|payable and|similar charges|(17)|-|
|PROFIT/(LOSS)|FOR THE|FINANCIAL YEAR|843|(7,916)|
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The notes on pages 7 to 9 form part of these financial statements.
Page 4
Paraiso Samba Ltd Balance Sheet As At 31 March 2024
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXEDASSETS | |||||
| Tangible Assets | 4 | 5,320 | 4,806 | ||
| 5,320 | 4,806 | ||||
| CURRENTASSETS | |||||
| Debtors | 5 | 29,857 | 29,319 | ||
| Cash at bank and in hand | 425 | 560 | |||
| 30,282 | 29,879 | ||||
| Creditors: Amounts Falling Due Within OneYear |
6 | (4,797) | (4,723) | ||
| NETCURRENTASSETS (LIABILITIES) | 25,485 | 25,156 | |||
| TOTALASSETS LESS CURRENT LIABILITIES |
30,805 | 29,962 | |||
| Creditors:Amounts Falling Due After MoreThanOneYear |
7 | (28,900) | (28,900) | ||
| NETASSETS | 1,905 | 1,062 | |||
| CAPITALAND RESERVES | |||||
| Called up share capital | 8 | 100 | 100 | ||
| Profitand Loss Account | 1,805 | 962 | |||
| SHAREHOLDERS'FUNDS | 1,905 | 1,062 |
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Paraiso Samba Ltd Balance Sheet (continued) As At 31 March 2024
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
On behalf of the board
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C
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Paraiso School of Samba
Director
Date {0 [2/207
The notes on pages 7 to 9 form part of these financial statements.
4
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Paraiso Samba Ltd Notes to the Financial Statements For The Year Ended 31 March 2024
- General information
Paraiso Samba Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 05732752. The registered office is 10 Chalcot Square, London, NW1 8YB.
The presentation currency of the financial statements is the Pound Sterling (£).
- Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery at varying rates on cost and reducing balance Motor Vehicles at varying rates on cost Fixtures & Fittings 15% on cost Computer Equipment 20& on cost
The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual value of the assets. The useful economic lives and residual value are reassessed annually. They are amended when necessary to reflect current estimates, future investments and the physical condition of the assets.
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
... CONTINUED
Page 7
Paraiso Samba Ltd Notes to the Financial Statements (continued) For The Year Ended 31 March 2024
2.4. Taxation - continued
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.5. Grant income
Grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period. Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
4. Tangible Assets
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Plant & Motor Fixtures & Computer Total
Machinery Vehicles Fittings Equipment
£ £ £ £ £
Cost
As at 1 April 2023 64,942 27,191 8,103 10,797 111,033
Additions 2,100 - - - 2,100
As at 31 March 2024 67,042 27,191 8,103 10,797 113,133
Depreciation
As at 1 April 2023 62,104 26,514 8,102 9,507 106,227
Provided during the period 697 481 - 408 1,586
As at 31 March 2024 62,801 26,995 8,102 9,915 107,813
.. CONTINUED
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Paraiso Samba Ltd Notes to the Financial Statements (continued) For The Year Ended 31 March 2024
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|---|---|---|---|---|---|---|---|---|---|
|Net Book|Value|
|As|at|31|March|2024|4,241|196|1|882|5,320|
|As|at|1|April|2023|2,838|677|1|1,290|4,806|
|5.|Debtors|
|2024|2023|
|£|£|
|Due|within|one|year|
|Amounts owed|by|group|undertakings|12,227|13,673|
|Other debtors|17,630|15,646|
|29,857|29,319|
|6.|Creditors:|Amounts|Falling|Due|Within One Year|
|2024|2023|
|£|£|
|Other|creditors|4,797|4,723|
|7.|Creditors:|Amounts|Falling|Due|After|More Than|One|Year|
|2024|2023|
|£|£|
|Amounts owed|to|group|undertakings|28,900|28,900|
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There are no repayment requirements in respect of the loan from group undertaking. No interest is payable on the loan.
- Share Capital
Allotted, Called up and fully paid
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|||
|---|---|
|2024|2023|
|£|£|
|100|100|
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Paraiso Samba Ltd Trading Profit and Loss Account For The Year Ended 31 March 2024
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|---|---|---|---|---|---|
|2024|2023|
|£|£|£|£|
|TURNOVER|
|Sales|1,500|1,700|
|COST|OF|SALES|
|Production|costs|251|2,417|
|Motor expenses|4,904|7,421|
|Travel|and|subsistence|120|9|
|Repairs,|renewals|and|maintenance|206|1,951|
|Advertising|and|promotion|784|977|
|Telephone|and|fax|1,322|454|
|Bad|debts|written|off|-|344|
|Depreciation|1,586|1,580|
|(9,173)|(15,153)|
|GROSS|LOSS|(7,673)|(13,453)|
|Administrative|Expenses|
|Rent|30,113|18,605|
|Rates|981|-|
|Utilities|5,164|3,080|
|Premises|repairs|and|maintenance|3,132|337|
|Insurance|1,213|1,155|
|Accountancy|fees|1,595|1,590|
|Bank|charges|94|-|
|Donations|38|33|
|Sundry|expenses|137|163|
|(42,467)|(24,963)|
|Other Operating|Income|
|Grants|receivable|51,000|30,500|
|51,000|30,500|
|OPERATING|PROFIT/(LOSS)|860|(7,916)|
|Interest payable and|similar charges|
|Bank|interest|payable|17|-|
|(17)|-|
|PROFIT/(LOSS)|FOR THE|FINANCIAL YEAR|843|(7,916)|
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