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2021-08-31-accounts

YOUNG DANCERS CHARITABLE ACADEMY LIMITED (Company limited by guarantee no. 08130526 registered charity no. 1148129)

REPORT AND FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2021

YOUNG DANCERS CHARITABLE ACADEMY LIMITED

(Company limited by guarantee no. 08130526, registered charity no. 1148129)

REPORT AND FINANCIAL STATEMENTS for the year ended 31 August 2021

CONTENTS

Page
Legal and administrative information 1
Trustees' report 2
Independent examiner's report 6
Statement of financial activities 7
Balance sheet 8
Statement of cash flows 9
Notes to the financial statements 10

YOUNG DANCERS CHARITABLE ACADEMY LIMITED

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS for the year ended 31 August 2021

Trustees Anna du Boisson (resigned 25 March 2021)
Kerry Williams (resigned 25 March 2021)
Kate Blakeburn (resigned 25 March 2021)
Kelly Williams
Maryellen Inkster
Victoria Conran
Joanna Barrett (appointed 8 February 2021)
Gavin McCaig (appointed 21 October 2020)
Secretary Vikki Langford (appointed 8 February 2021)
Senior Management Team (SMT)
Artistic Director Anna du Boisson (resigned 31 August 2021)
Executive Director Kerry Williams (re-appointed 1 September 2021)
Academic Director Kate Blakeburn
Head of Dance Rachel Hunt (appointed 1 September 2021)
Designated
Safeguarding Lead Katrina Watson (elevated to join SMT 1 September 2021)
Company reg. no. 08130526
Charity reg. no. 1148129
Registered office 25 Bulwer Street
London
W12 8AR
Independent examiner Simon Erskine FCA FCIE DChA
61 Mortimer Road
London
NW10 5QR
Bankers Barclays Bank plc
Leicester
LE87 2BB

1

YOUNG DANCERS CHARITABLE ACADEMY LIMITED

TRUSTEES' REPORT for the year ended 31 August 2021

The Trustees, who are also directors of the Company for the purposes of company law, submit their annual report and the financial statements of Young Dancers Charitable Academy Limited for the year ended 31 August 2021.

The financial statements have been prepared in accordance with the accounting policies set out in the notes to the financial statements and comply with the charity’s governing document, the Charities Act 2011 and 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 published in October 2019.

OBJECTS OF THE CHARITY, PRINCIPAL ACTIVITIES AND ORGANISATION

Organisation

The charity is governed by its Trustees who are responsible for formulating the strategies and policies of the charity including the approval of budgets and the annual accounts. The Trustees delegate the day to day running of the charity to the Senior Management Team.

Recruitment and appointment of Trustees

Trustees are appointed on the basis of their expertise in a particular field.

Governing document

The Young Dancers Charitable Academy Limited is a company limited by guarantee and a registered charity governed by its memorandum and articles of association and the policies formulated from time to time by the Trustees.

Objects

The charity's objects are specifically restricted to the following:

To advance, for charitable purposes, education and to promote the arts (in particular ballet and related performing arts) both for the public benefit in particular but not exclusively by:

(a) operating a school within the meaning of the Education Acts, open to all pupils showing a talent and commitment to ballet and related performing arts;

(b) advancing and coordinating academic and vocational excellence by providing specialist facilities for ballet training within the school premises;

(c) promoting with the community as a whole opportunities to participate in dance for people of school going age who would otherwise normally be excluded by virtue of economic, social or cultural reasons; (d) providing bursaries and other forms of subsidy for pupils not able to afford to pay the full running costs of the school and of its dancing facilities;

(e) fostering interest in and promoting knowledge of the subject of ballet and related arts for the better appreciation by and general benefit of the public as a whole (the school aims never to turn away a talented child); and

(f) forming links with other organisations actively involved in ballet, in order to enhance the contribution made by ballet for the benefit of society as a whole

2

YOUNG DANCERS CHARITABLE ACADEMY LIMITED

TRUSTEES' REPORT for the year ended 31 August 2021

DEVELOPMENT, ACTIVITIES AND ACHIEVEMENTS

Achievements and Performance

The Trustees are delighted to report a fantastic year for the organisation which saw staff go above and beyond to deliver excellent results for our young people. The school successfully navigated the ongoing challenges of the pandemic, including the extended winter lockdown, when it embraced 'blended learning' and delivered a full remote learning curriculum to students at home while offering onsite education to a group of vulnerable and key worker students. Despite disruption to exams and the audition process, the Year 11 students' dedication and achievement was exceptional. They achieved excellent GCSE results: 97% 9-4 (A-C), 45% 9-7 (A*A), with particular success in GCSE English Language (100% 9-4, 75% 9-7) and all were able to graduate to their desired destinations.

The school continued to support a large proportion of students through bursaries which equates to approximately 29% of the student body. With greater clarity and detail than ever before in the accounts for the period 2020/2021, the Trustees are confident in the future of the school and its ability to deliver top quality training to even more young people in future.

During the year we recruited 3 new permanent Trustees with invaluable experience from different backgrounds. We are in the process of recruiting further members to strengthen our team. Ultimate responsibility for the governance of the school rests with the Trustees.

We would like to thank all our teaching staff for their commitment to the school's ethos and achievements and our generous donors for their invaluable sponsorships.

RISK POLICY AND MANAGEMENT

The Trustees are responsible for the management of the risks faced by the charity. Risks are identified and assessed and controls are established throughout the year. A formal review of the charity's risk management process is undertaken on an annual basis.

The Trustees consider the principal risks to the charity to be:

The key controls used by the charity include formal agendas, minutes and actions for all Trustee meetings alongside comprehensive planning. A budget with greater levels of detail and information than ever before was drawn up which the Executive Director oversees implementation of. Clear authorisation and approval for all levels of expenditure were in place alongside the appointment of a board treasurer which offered a further layer of scrutiny.

Cleaner lines of reporting, auditing and appraisal for the school, its staff and its finances were established through a collective effort by the Trustees, the Executive Director and a specialist charity accountant.

Controls over operation of the charity's bank account and periodic reviews of the adequacy of insurance of the charity's fixed assets are considered to be adequately managed. Procedures are in place to ensure compliance with health and safety and safeguarding regulations in order to protect both students and staff.

3

YOUNG DANCERS CHARITABLE ACADEMY LIMITED

TRUSTEES' REPORT for the year ended 31 August 2021

Such procedures are reviewed regularly to ensure compliance with the latest requirements. Through the risk management processes established, the Trustees are satisfied that the major risks identified have been adequately mitigated where necessary. It is recognised that systems can only provide reasonable but not absolute assurance that major risks have been adequately managed. The major risks to which the charity is exposed as identified by the Trustees have been reviewed and systems have been established to mitigate those risks.

PUBLIC BENEFIT

Numerous bursaries are awarded to students according to their talent and financial means. The school operates out-reach programmes including an associates scheme which help identify talent in the community and bring it in to the full time school.

FINANCIAL REVIEW

The charity incurred a deficit of £31,303 for the year ended 31 August 2021 (2020 - surplus of £33,529). This is after awarding £270,356 in bursaries to underprivileged and talented students (2020 - £249,424).

Going concern

The Trustees have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. The Trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular, the Trustees have considered the charity’s forecasts and projections and have taken account of pressures on fee income, particularly in light of the impact of the COVID-19 pandemic. Costs have been reduced where possible to mitigate the negative short-term impact, and the longer term outlook remains financially viable. The impact of the COVID-19 pandemic continues to form one of the key risks as identified in the Principal Risks section of this report.

After making enquiries the Trustees have concluded that there is a reasonable expectation that the charity has adequate resources to continue to operate for the foreseeable future. As such, the charity expects to be able to meet its liabilities as they fall due in the period of at least 12 months from the date of the approval of these accounts.

On this basis, the Trustees have concluded that the charity is a going concern. The financial statements do not include any adjustments that would result from the charity not being able to meet its liabilities as they fall due.

Reserves Policy

Total reserves, all of which are unrestricted funds, were £2,507 (2020 - £33,810). The charity’s free reserves at 31 August 2021 were £643 (2020 - £31,696).

The charity’s current minimum target, based on a risk assessment addressing possible income shortfalls and losses from depletion of student numbers or related income, extreme events, like the escalation of a global pandemic and other external factors to which the charity has little or no control, is £30,000. The charity is taking steps to bring the amount of reserves it holds into line with the target level and budget plans show that this should be possible by the end of the academic year 2023.

4

YOUNG DANCERS CHARITABLE ACADEMY LIMITED

TRUSTEES' REPORT for the year ended 31 August 2021

PLANS FOR THE FUTURE

The school intends to continue its successful policy of attracting and nurturing its young and talented dancers. We are always on the lookout for ways to attract new funds to ensure the maintenance and growth of our bursary programme. All our pupils are encouraged to take part in the summer Choreographic Competition and in the public performances produced by the Du Boisson Dance

Our Associates programme continues to grow which allows pupils to participate in dancing classes outside of the normal curriculum.

PREPARATION OF THE REPORT

This report has been prepared taking advantage of the small companies exemption of section 415A of the Companies Act 2006.

INDEPENDENT EXAMINER

The independent examiner, Simon Erskine FCA FCIE DChA, has indicated his willingness to accept reappointment.

This report was approved and authorised for issue by the Trustee on 26 April 2022 and signed on its behalf by:

Kelly Williams-Richardson Chair

5

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF YOUNG DANCERS CHARITABLE ACADEMY LIMITED

I report to the charity trustees on my examination of the accounts of Young Dancers Charitable Academy Limited for the year ended 31 August 2021 which are set out on pages 8 to 17.

This report is made solely to the Trustees, as a body, in accordance with regulations made under section 154 of the Charities Act 2011. My work has been undertaken so that I might state to the Trustees matters I am required to state to them in an Independent Examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Trustees for my independent examination work, for this report, or for the statement I have given below.

Responsibilities and basis of report

As the charity 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 company’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

Since the company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales which is one of the listed bodies.

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 that in any material respect:

Simon Erskine FCA FCIE DChA

61 Mortimer Road London NW10 5QR

26 April 2022

6

YOUNG DANCERS CHARITABLE ACADEMY LIMITED

STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 August 2021

Unrestricted
Funds
Note
2021
£
INCOME FROM:
Donations
2
5,427
3
488,775
Other trading activities - fundraising
6,526
TOTAL
500,728
EXPENDITURE ON:
Raising funds - direct costs
750
Charitable activities
5
531,281
TOTAL
532,031
(31,303)
RECONCILIATION OF FUNDS:
TOTAL FUNDS BROUGHT FORWARD
33,810
TOTAL FUNDS CARRIED FORWARD
2,507
£
Charitable activities
Net income/(expenditure)		 Restricted
Funds
2021
£
104,227
(103,227)
-
1,000
-
1,000
1,000
-
-
Nil
£		 Total
Funds
2021
£
109,654
385,548
6,526		 (as restated)
Total
Funds
2020
£
124,223
423,325
2,365
501,728 549,913
750
532,281		 1,388
514,996
533,031 516,384
(31,303)
33,810		 33,529
281
2,507
**£ **		 33,810
_£ _

NOTE

In 2020 the only restricted income and expenditure was Donations income of £108,288 fully expended on the cost of bursaries reflected as a corresponding negative item in Income from Charitable activities.

The annexed notes form part of these financial statements

7

YOUNG DANCERS CHARITABLE ACADEMY LIMITED (co. limited by guarantee reg. no. 08130526)

BALANCE SHEET As at 31 August 2021

Notes
FIXED ASSETS
Tangible assets
10
CURRENT ASSETS
Debtors
11
Cash at bank and in hand
CREDITORS: amounts falling due
within one year
12
NET CURRENT ASSETS
NET ASSETS
FUNDS
Unrestricted funds:
General fund
13		 2021
£
£
1,864
29,314
70,156
99,470
(98,827)
643
2,507
£
2,507
2,507
2,507
**£ **		 2020 (as restated)
£
£
2,114
40,788
73,466
114,254
(82,558)
31,696
33,810
£
33,810
33,810
33,810
_£ _		 2020 (as restated)
£
£
2,114
40,788
73,466
114,254
(82,558)
31,696
33,810
£
33,810
33,810
33,810
_£ _
114,254
(82,558)
2,507 33,810
33,810
_£ _
33,810
33,810
_£ _

These financial statements, with the comparatives re-stated as in Notes 11 and 12, have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

For the year ending 31 August 2021 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

(i) The members have not required the Charity to obtain an audit of its accounts for the year in question in accordance with section 476;

(ii) The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The financial statements were approved, and authorised for issue, by the Trustees on 26 April 2022 and signed on their behalf by:-

KELLY WILLIAMS-RICHARDSON, Chair

GAVIN MCCAIG, Treasurer

The annexed notes form part of these financial statements

8

YOUNG DANCERS CHARITABLE ACADEMY LIMITED

STATEMENT OF CASH FLOWS for the year ended 31 August 2021

CASH FLOWS FROM OPERATING ACTIVITIES
Cash flows from operating activities
Purchase of tangible fixed assets
Cash and cash equivalents are entirely cash at bank and in hand
Depreciation
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Net (expenditure)/income for the reporting period (as per the statement of
financial activities)
Cash and cash equivalents at the end of the reporting period
Net cash (used in)/provided by operating activities (see below)
RECONCILIATION OF NET (EXPENDITURE)/INCOME
TO NET CASH FLOW FROM OPERATING ACTIVITIES
Cash and cash equivalents at the beginning of the reporting period*		 2021
£
(2,116)
(1,194)
73,466
70,156
£
(31,303)
1,444
11,474
16,269
(2,116)
£		 2020
£
23,477
(2,510)
49,989
73,466
_£ _
33,529
743
(36,194)
25,399
23,477
_£ _

9

YOUNG DANCERS CHARITABLE ACADEMY LIMITED

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2021

1. ACCOUNTING POLICIES

(a) General information and basis of preparation of financial statements

Young Dancers Charitable Academy Limited is a charitable company limited by guarantee registered in England; its registered office is as shown on page 1. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity.

The charity constitutes a public benefit entity as defined by the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). 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 (SORP 2019), FRS 102, the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Practice as it applies from 1 January 2019.

The financial statements are prepared on a going concern basis under the historical cost convention.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

(b) Fund accounting

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

(c) Income recognition

All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.

No amount is included in the financial statements for volunteer time in line with the SORP 2019.

Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred. Until then it is deferred.

10

YOUNG DANCERS CHARITABLE ACADEMY LIMITED

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2021

The charity received government grants in respect of the Coronavirus Job Retention Scheme. Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred.

(d) Expenditure recognition

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings:

Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.

(e) Support costs and fundraising costs

Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs and governance costs. They are incurred directly in support of expenditure on the objects of the charity.

Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities.

(f) Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

(g) Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

(h) Employee benefits

When employees have rendered service to the charity, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

11

YOUNG DANCERS CHARITABLE ACADEMY LIMITED

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2021

The charity operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

(i) Tax

The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.

(j) Going concern

The Trustees have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. The Trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular, the Trustees have considered the charity’s forecasts and projections and have taken account of pressures on fee income, particularly in light of the impact of the COVID-19 pandemic which occurred before these financial statements were approved and is explained more in the Trustees’ Annual Report. After making enquiries, the Trustees have concluded that there is a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the Trustees continue to adopt the going concern basis for the preparation of the financial statements.

(k) Judgements and key sources of estimation uncertainty

No judgements have been made in the process of applying the above accounting policies and there are no key sources of estimation uncertainty.

2.
DONATIONS
The Du Boisson Dance Foundation
Other restricted donations
Coronavirus Job Retention Scheme
Other donations		 Unrestricted
Funds
2021
£
-
-
3,643
1,784
5,427
**£ **		 Restricted
Funds
2021
£
90,624
13,603
-
-
104,227
**£ **		 Total
Funds
2021
£
90,624
13,603
3,643
1,784
109,654
**£ **		 (as restated)
Total
Funds
2020
£
108,288
-
11,554
4,381
124,223
_£ _

There was no restricted income in 2020 other than the Du Boisson Dance Foundation donations. In the 2020 statutory accounts these had been netted off against the bursary costs funded by the donations (see Note 3). The above comparatives have been restated to correct this error.

12

YOUNG DANCERS CHARITABLE ACADEMY LIMITED

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2021

3.
INCOME FROM CHARITABLE ACTIVITIES
Unrestricted
Funds
2021
£
School fees
606,966
Bursaries
(167,129)
Net school fees
439,837
Exam fee income
5,021
Auditions
1,665
Holiday courses
15,702
Associate fees
25,823
Other
727
488,775
**£ **		 Restricted
Funds
2021
£
-
(103,227)
(103,227)
-
-
-
-
-
(103,227)
£		 Total
Funds
2021
£
606,966
(270,356)
336,610
5,021
1,665
15,702
25,823
727
385,548
**£ **		 (as restated)
Total
Funds
2020
£
634,836
(249,424)
385,412
2,368
1,020
3,950
30,575
-
423,325
_£ _

There was no restricted income or expenditure in 2020 other than £108,288 of bursaries funded by donations from Du Boisson Dance Foundation. In the 2020 statutory accounts the donations had been set off against the cost of bursaries. The 2020 comparatives have been restated to correct this error.

4. INCOME FROM OTHER TRADING ACTIVITIES

Unrestricted
Funds
2021
£
Fundraising
6,526
6,526
£
5.
EXPENDITURE ON CHARITABLE ACTIVITIES
Unrestricted
Funds
2021
£
Direct costs:
Staff costs (see Note 7)
275,094
Tuition fees
148,083
Books for tuition
5,004
Exam fees
2,795
Production fees
1,050
Staff training
553
Website fees and online overheads
3,550
Insurance
5,484
Support costs (see Note 6)
89,668
531,281
£
There was no restricted income in 2020.		 Restricted
Funds
2021
£
-
Nil
£
Restricted
Funds
2021
£
-
-
-
-
1,000
-
-
-
-
1,000
**£ **		 Total
Funds
2021
£
6,526
6,526
£
Total
Funds
2021
£
275,094
148,083
5,004
2,795
2,050
553
3,550
5,484
89,668
532,281
**£ **		 Total
Funds
2020
£
2,365
2,365
_£ _
Total
Funds
2020
£
258,304
166,961
2,171
2,568
170
564
1,036
6,130
77,092
514,996
_£ _

There was no restricted expenditure in 2020.

13

YOUNG DANCERS CHARITABLE ACADEMY LIMITED

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2021

6.
SUPPORT COSTS
Accountancy fees
Legal fees
Telephone
Dues and subscriptions
Travel and vehicle expenses
Bank charges
Miscellaneous expenses
Office expenses
Depreciation
Bad debts
Rent and rates
Repairs and maintenance
Classroom furniture
Governance costs:
Fees payable to independent examiner:
Preparation and independent
examination of the accounts
Preparation of payroll and
corporation tax return		 Unrestricted
Funds
2021
£
10,340
6,232
1,380
1,564
1,449
87
913
2,315
1,444
8,500
50,979
1,748
617
2,100
-
89,668
**£ **		 Restricted
Funds
2021
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Nil
£		 Total
Funds
2021
£
10,340
6,232
1,380
1,564
1,449
87
913
2,315
1,444
8,500
50,979
1,748
617
2,100
-
89,668
**£ **		 Total
Funds
2020
£
5,886
11,768
1,348
2,565
340
-
314
3,095
743
9,472
35,770
666
-
4,000
1,125
77,092
_£ _

There was no restricted expenditure in 2020.

7.
STAFF NUMBERS AND COSTS
Salaries
Social security costs
Pension costs
Freelance costs		 2021
£
239,443
17,939
3,891
261,273
13,821
275,094
**£ **		 2020
£
225,669
18,253
3,582
247,504
10,800
258,304
_£ _

No employee received remuneration of more than £60,000. The average headcount of staff employed during the year was 9 (2020 - 7).

The charity considers that the key management personnel comprise the Trustees and the Senior Management Team who, during the period were the Artistic Director and the Academic Director. The total employee benefits including pension costs of the key management personnel of the school during the year was £106,349 (2020 - £117,775: this also included the Executive Director).

14

YOUNG DANCERS CHARITABLE ACADEMY LIMITED

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2021

8. TRUSTEES

During the year, in the period for which they served as Trustees, the following received salaries from the charity, with the permission of the Charity Commission, as follows.

charity, with the permission of the Charity Commission, as follows.
Kerry Williams
Kate Blakeburn
Anna du Boisson		 2021
£'000
15
23
23
61		 2020
£'000
30
35
40
105

The above includes pension contributions where applicable. No amounts were due at the year-end to any of the above (2020 - Kerry Williams and Anna du Boisson were each owed £349 which was repaid during the year). All the above 3 resigned as Trustees on 25 March 2021 but continued to be employed by the charity.

There were no other payments to Trustees during the year (2020 - the same) including the reimbursement of expenses.

9. RELATED PARTY TRANSACTIONS

One of the key management personnel is also a trustee of The Du Boisson Dance Foundation, a charity whose objectives include fundraising in order to support organisations such as the charity. During the year the charity received £90,624 (2020: £108,288) from the Foundation to fund bursaries. During the year the charity paid the Foundation £7,000 (2020: £5,000) for hall space. There were no amounts due at the year end (2020: £nil).

One of the key management personnel also owns a company, West London School of Dance, which rents office and classroom space to the charity. During the year rent was due amounting to £51,400 (2020: £17,000). The charity also paid tuition fees to the School; the amount payable for the year was £46,225 (2020: £59,896). There were no amounts due at the year end (2020: £nil).

A donation was received during the year from a Trustee, amounting to £1,000 (2020 - £nil). There were no specific conditions attached although it was to contribute to film production costs.

15

YOUNG DANCERS CHARITABLE ACADEMY LIMITED

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2021

10. TANGIBLE FIXED ASSETS

Cost
At 1 September 2020
Additions
At 31 August 2021
Depreciation
At 1 September 2020
Charge for the year
At 31 August 2021
Net book value
At 31 August 2020
At 31 August 2021
11. DEBTORS
Due within one year
Accounts receivable
Sundry debtors		 Furniture &
fixtures
£
1,501
-
1,501
1,498
-
1,498
3
£
3
**£ **		 Computer
equipment
£
2,968
1,194
4,162
857
1,444
2,301
2,111
£
1,861
£
2021
£
5,960
23,354
29,314
**£ **		 Total
£
4,469
1,194
5,663
2,355
1,444
3,799
2,114
_£ _
1,864
**£ **
(as restated)
2020
£
40,685
103
40,788
_£ _

In the 2020 statutory accounts refundable deposits, totalling £21,825, were deducted from Accounts receivable; this deduction has been reversed in the Accounts receivable balance shown above.

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Refundable deposits
Pension contributions payable
Accruals
Deferred school fee income		 2021
£
32,500
-
4,150
62,177
98,827
**£ **		 (as restated)
2020
£
21,825
1,323
7,726
51,684
82,558
_£ _

In the 2020 statutory accounts the year-end refundable deposits, totalling £21,825 as above, were deducted from Accounts receivable instead of being shown as a liability; this deduction has been reversed in these accounts as shown above.

Deferred school fee income
Balance at 1 September 2020
Amount released to incoming resources
Amount deferred in the year
Balance at 31 August 2021		 51,684
(51,684)
62,177
62,177
**£ **		 45,560
(45,560)
51,684
51,684
_£ _

16

YOUNG DANCERS CHARITABLE ACADEMY LIMITED

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2021

13. STATEMENT OF FUNDS

2021
RESTRICTED FUNDS
Bursary fund
Film production		 Brought
Forward
£
-
-
Nil
£		 Incoming
Resources
£
-
1,000
1,000
**£ **		 Resources
Expended
£
-
(1,000)
(1,000)
£		 Transfers
£
-
-
Nil
£		 Carried
Forward
£
-
-
Nil
£

The Bursary fund represents donations from charities to meet the cost of bursaries granted by the charity to some of its students. The income was £103,227 and the cost of bursaries was the same; however since bursary costs are treated as a reduction in school fees income both the income and expenditure are shown above as Nil.

SUMMARY OF FUNDS

SUMMARY OF FUNDS
General Fund
Restricted Funds		 33,810
-
33,810
**£ **		 500,728
1,000
501,728
**£ **		 (532,031)
(1,000)
(533,031)
£		 -
-
Nil
£		 2,507
-
2,507
**£ **
2020
SUMMARY OF FUNDS
General Funds
Restricted fund for
bursaries (see below)		 281
-
281
_£ _		 549,913
-
549,913
_£ _		 (516,384)
-
(516,384)
£		 -
-
Nil
£		 33,810
-
33,810
_£ _

See note above on the Bursary fund. In the 2020 financial year the income and cost of bursaries were each £108,288. There were no other restricted funds in that year.

14. ANALYSIS OF NET ASSETS BETWEEN FUNDS

There were no restricted or designated funds at the year-end and hence all assets and liabilities at the year-end belong to the General Fund (2020 - the same).

15. PRIOR YEAR ADJUSTMENTS

In the 2020 statutory accounts Donations income and Bursaries cost were both under-stated by £108,288 as explained in Notes 2 and 3. Also in those accounts Refundable deposits of £21,825 were wrongly netted off against Accounts receivable. Both errors have been corrected with consequent restatement of the balances concerned. There was no effect on funds.

17