**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 unpredictable nature of the COVID-19 pandemic and the subsequent financial sustainability
- school safety
- student welfare
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:
- •1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
2. 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
4. 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).
## **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:
- Cost of raising funds is self-explanatory;
- Expenditure on charitable activities includes all other costs.
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:
- Furniture and fixtures fittings 10 years - Office equipment 3 years
## _**(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