PRESENTED BY: ZOE NEWELL AND EMMA HARDY INNOVATION DANCE STUDIOS CHARITY NUMBER: 1153263 - 96 98 PITSHANGER LANE, EALING, W5 1QX ## Structure, governance and management Innovation Dance Studios Ltd is constituted by its Memorandum and Articles of Association. Laid out in this document the trustees of Innovation Dance Studios LTD (Charity: 1153263) present their annual report for the year ending 31[st] March 2021. This report confirms the trustees have complied with the relevant acts and achieved the objectives laid out in the Articles of Association (henceforth referred to as The Articles). The charity is a company limited by guarantee, and is run by its Directors and overseen by its trustees who have been selected due to their knowledge and experience within the field of the performing arts. We require a breadth of experience in our trustees for them to carry out duties effectively. When recruiting trustees there is an overriding principle that the candidate has a passion for the performing arts. We require: - One male and one female trustee. - A trustee with a background in economics. - A trustee with a background in performance. - A trustee with a background in business. New trustees are selected by the current Board. Trustees receive no private benefit for their role. |**TRUSTEES**|| |---|---| |● Zoe Newell|CompanyDirector| |● Emma Hardy|Secretary| |● Daniel Keating|Trustee| |● Jessica Edgeley|Trustee| Trustees Annual Report 30/12/21 1 ## Objects and Activities ## **OUR AIMS** Our objects are as follows: The advancement of education in the performing arts, and in particular, in dance. (3.1 The Articles.) The providing and assistance in the provision of facilities for dance and other leisure time occupation for the inhabitants of the London Borough of Ealing and the surrounding areas who have need of such facilities by reason of their youth, age, infirmity, or disability, financial hardship or social and economic circumstances, or for the public at large, in the interests of social welfare and with the object of improving their conditions of life (3.2) We achieve our aims by providing a structured environment for young people from all backgrounds to learn all facets of dance. We give high focus to providing quality and ensure this by frequently analysing teaching staff and providing support and training where required. We provide classes for people of all ages from all backgrounds and pride ourselves on being an inclusive training centre. Our classes for children range for ages 12 months to 18 years. Due to the pandemic, this provision needed to be adapted during periods of closure to online rather than in-person teaching, and our aim during these times was to provide as complete a service as possible to ensure consistency for the student’s development, so that both good physical / mental health and progression were maintained. We seek to develop all our students’ skill set and competencies not only in dance but in social understanding and attitudes. We aim to allow each student to fulfill the fullest of their potential, increase in self-confidence and encourage them to contribute in a wider sense to the local community. This allows our students the opportunity to progress and gives them the tools they need to effectively deal with the experience of later life. We also usually serve a large number of schools across London boroughs including Barnet, Bromley, City of Westminster, Ealing and Islington. This is currently not happening due to the pandemic, as most schools have stopped provision of extra-curricular by outside providers. However we hope that this can be resumed as soon as possible, so we will detail our usual activities and aims. We offer services to a number of schools that have a high level of children in poverty. We provide children with the opportunity to dance and often perform publicly. These are children who would Trustees Annual Report 30/12/21 2 otherwise not have these prospects. We aim to maintain very close working relationships with schools to best support the children and provide equal opportunities to all. The Ealing studio is also supported by an additional full-time studio in North Finchley, which has the benefit of a 10 year lease. This studio also provides classes in the same wide variety of dance forms, and offers training to children from 18 months upwards. ## **OUR OBJECTIVES** Our objectives are in constant review and updated to ensure they support our organizational aims and the ethos of our charity. These are reviewed at each trustee meeting which are held quarterly (currently online). It remains of paramount importance to us that standards remain high and our students achieve their potential. We measure our success by this standard more than any other. In the setting of these objectives and planning our events the trustees have carefully considered the public benefit and the general guidance on this provided by the charity commission. We have paid particular regard to the public benefit guidance on advancing education. (PB1) Due to the pandemic, our objectives had to differ considerably to previous years, as the studios needed to be maintained and then re-built when the periods of closure were over, and teaching needed to be online for a larger proportion of the year. - To re-build our presence and ensure we are an active part of both the Ealing & Finchley communities. - To adapt teaching in order to successfully provide online provision for all dance styles, so that students can maintain progression and can retain links with their peers and teachers during periods of lockdown and isolation. - To ensure students at a financial disadvantage are provided the opportunity to learn to a high standard. - To give continuing support to those already receiving financial assistance. - To increase the number of children in receipt of financial assistance. Trustees Annual Report 30/12/21 3 - To re-build our pupil base, so that we are back to our pre-pandemic levels of enrolment within three years of the end of the pandemic. - To offer a high standard of appropriate teaching for our pupils with additional needs and work with our partners to ensure this is maintained. - To reinstate performance opportunities for students as soon as possible, given that safety for students, staff and audience members must be the priority. - To reinstate exams once allowed to restart in person, or to provide online exam provision when facilitated by the exam boards, and to maintain 100% pass rate. **ETHOS – PROVIDING EQUAL OPPORTUNITIES AND SERVING THE COMMUNITY AS A HUB FOR THE PERFORMING ARTS.** We are committed to safeguarding our pupils and take an active role in their welfare. All our staff are expected to share in this challenge and to bring any concerns to their seniors or the appropriate organisation, and to keep safeguarding training updated. We strive to keep parents updated with their children’s curricular and social progress - previously this has been possible through face to face contact, particularly in an established ‘Parents Watch Week’ which take place in class at the end of each term. Of course this is not currently possible, but during periods of in-person teaching, we have been keeping parents updated through video footage taken in class to show progress. We pride ourselves on the safe and fun environment we offer and support this with a zero tolerance bullying policy. There is clearly a risk of injury with activities such as dance. We manage this risk by using a dynamic risk assessment policy to keep up with any changing situation and keeping a strict policy on what activities are permissible in the studios and clear action plans for any possible incidents. To date there has been no significant incident and the trustees do not identify any potential detriment to our service users from partaking in the opportunities we offer. Online teaching presented a greater risk of injury through the possibility of students dancing on uneven flooring / carpet, and the size of zoom boxes making it harder for teachers to see unsafe practise. On balance, we believe that the harms caused by no provision were greater than these risks, and so risks are minimised through contact with parents to ensure that students had a clear space to dance, and had their cameras on during classes and as well positioned as possible for clear view by teachers. Trustees Annual Report 30/12/21 4 Innovation Dance takes great pride in our inclusive approach to dance and the performing arts. We accept students from all backgrounds to ensure equal opportunities. We work on an individual basis and ensure that we can offer a high standard of education to any prospective pupil. Although some minimum requirements are necessary for many of our studio classes (most of our dance classes require reasonable mobility or at least the prospect thereof.) they do not normally have a general standard. A student can remain in a class until they have achieved the required standard before progressing to the next level of difficulty. This normally requires a board exam so a level of standardisation can be maintained. Any new pupil’s inclusion in a class is assessed to confirm it is not having any detrimental effect on any other pupil’s development. Our work in schools is less structured and allows us to be more inclusive (not relevant during this period, as the majority of schools have currently stopped outside provision for extra-curricular, but we hope to reinstate as soon as possible). We work with and in a number of schools that cater specifically for students with specialised needs. This includes dance classes for young people with extremely low mobility and also for young people with significant mental health issues. We constantly review our work in these schools to ensure it is appropriate and beneficial to the student’s needs. This is achieved with a strong working relationship with the schools and a personal knowledge of each pupil’s needs and conditions. With the funding for many of these centres and schools significantly reduced in recent years we strive to remain affordable for them by obtaining funding where possible and recovering costs from other means. The continuance of these classes is of vital importance to the trustees of the charity. In a number of schools that are struggling to secure ongoing funding, we are working on team teaching with permanent staff members and training them in order that they can continue to teach their students if we can no longer support the costs from within. Fees are also kept as low as possible for these schools, and are subsidised by the work of the studios. Innovation Dance Studios Ealing has become a strong part of the Pitshanger Lane community. Within this year community events and performance opportunities have not happened in-person due to the pandemic, but we would hope to become involved again as soon as possible. These activities form a strong part of our ethos. Our trustees are part of the community association and take part in both local fundraising for our own and other local charities, and the organization of local community events, when times allow. We are also aiming to involve the Finchley students in local community events wherever possible, and will be looking to hopefully join any possible outdoor events again as and when allowed. Our work online has allowed us to build strong links with communities in both areas, as we provided a daily ‘Family Dance Class’ which was very well attended by current and new students / families in both the Ealing and Finchley areas, and this built and maintained links at a time when many were isolated. Trustees Annual Report 30/12/21 5 ## **POLICIES** It is of utmost importance to us that our students are educated in a diverse environment. It is a priority to us that our services are not restricted to those who can afford our fees. In order to facilitate this we have a number of policies (already touched upon) that we have developed. ## Payment Plans Parents of lesser financial means are given the opportunity to pay by different methods. This may be by spreading the costs out in to a monthly amount or paying for individual classes rather than term fees. Where students from disadvantaged backgrounds are inhibited by financial hardship, these students will be trained without charge, subsidised by the resources of the charity. ## Recognising Excellence Innovation Dance Studios recognises excellence by providing heavily subsidised classes for the most gifted and talented students. To ensure these students can attend the fees are variable. Fees are in no way a barrier to attendance and if required students will be trained without charge. ## Family discounts In order to assist families with more than one child we offer a range of discounts to assist them. ## Multiple classes Especially in dance it is often important that students attend a range of classes. We offer discounts to children who attend multiple classes depending on circumstances. ## Jack Petchey Foundation The studio has been extremely lucky in being chosen as a recipient of an award from the Jack Petchey Foundation, which has enabled us to be able to provide free workshops to students during this year to allow them to train with guest teachers who would normally not be available to them. The funding received from the Foundation has also helped towards covering costume and travel expenses for gifted & talented students attending national competitions, in order to remove financial barriers to these opportunities. Trustees Annual Report 30/12/21 6 ## Activities and achievements Pupil numbers - This was a very difficult year to maintain pupil numbers due to the extended periods of closure. We finish this period with pupil numbers signed up to attend the Summer 2021 Term in person at 75% of our pre-pandemic enrolment period, and aim to use the upcoming years to re-build. We have set the aim of being back to pre-pandemic enrolment numbers within three years. ## Public Performance - Also a difficult year for providing performance opportunities for obvious reasons. Our summer shows of course could not take place. However, when re-opening was allowed in July, we ran summer workshops during every week of the summer holiday, which all culminated in a recorded performance, which could then be sent to parents. - Our gifted and talented students participated in several online competitions, including national and European championships, and so still gained qualification to future World Championships despite being unable to compete in person. - In normal times, we attend regular local community events which include, Lighting up the Lane, Party in the Park, Frost Fayre and local charity fund raising events. We will be aiming to return to these as soon as is allowed, and can be safely run. ## Measurable Student Progression - Although exams stopped running nationally during the closure periods, we have continued training towards these via online classes, and in-person classes when allowed. Just prior to the first lockdown, we were able to complete RAD Ballet and ISTD Tap/Modern exams. Results were received during the lockdown, which maintained our 100% pass rate. We are associated with a number of the major dance syllabi. This includes The RAD for Ballet, ISTD for Tap and Modern Theatre, and UDO for Street Dance. This allows our students to gain accreditation in many facets of dance. - We now offer students the opportunity to study GCSE Dance within our studio, allowing them to gain an additional qualification, and to learn the syllabus within a professional dance environment. The full cohort achieved an A**- C pass. This continued throughout the lockdown periods, albeit online when required. Trustees Annual Report 30/12/21 7 - We have also increased the number of our students who are training towards Grade 6 and above RAD Ballet qualification. This qualification provides UCAS points for those students going in to Further education. We are now starting to see the results of helping our students to gain further education places that would otherwise possibly not have had this opportunity. Innovation Dance is committed to helping children fulfill their potential and continue their dance training to the highest possible level. We have introduced vocational level ballet training at the Ealing studio, with over twenty students studying Intermediate and Intermediate Foundation grades. It is worth noting that the numbers within these classes have remained constant from the start of the pandemic. - Although auditions were all run online during this period, several pupils were still able to gain places at vocational full-time colleges to further their training and work towards a career in dance and performance. During this period, students gained places at Laine Theatre Arts, London Studio Centre, The Brit School and Arts Educational School. We wish them the very best with their ongoing training. ## Covid-19 During this period, the studios had to be closed for in-person classes from April - July 2020, again in November 2020, and then in January - March 2021, giving only approximately 4 months of inperson provision during the year. Any classes which had been pre-paid when we went into the initial lockdown period were either refunded or carried over to our re-opening, so that no-one had a financial loss from our closure. During the first lockdown we continued to provide classes completely free of charge, in order to maintain the physical and mental wellbeing of our students and their families, in such an unprecedented situation. We ran a daily 10am Family Dance Class via Youtube and Facebook, and a full timetable of all dance styles for all ages, via Zoom, Instagram, Facebook and Youtube. In the November and January lockdowns, we continued to provide our youtube video library of completely free classes (over 200 classes available), and also provided a full timetable of Zoom classes, which were charged at a reduced level, in order to ensure the ongoing security of the Studios. We also provided workshops - both with faculty teachers during school holidays, and with guest teachers both Trustees Annual Report 30/12/21 8 during holidays and term-time - which were again charged at a reduced level, to bring in additional income. We opened as soon as was allowed when restrictions permitted, to gain the maximum inperson teaching, both in the forms of workshops during holiday periods, and our regular weekly timetable during term-times. Classes were shortened and repeated more frequently in order to accommodate the limited number of students allowed into each session. Trustees Annual Report 30/12/21 9 under £ l o.i)no in Il)i5 fiJn(l. iiliiih IiLlpcd us 10 conliiiuc lo pal for Ilie OllLTUjnl. C0515. Durini. the Noi'cii1bL'¥ 11(1 Jcinii:ir% l(KkdiiiiJi. li¢ ch￿1r&￿t(l a %niall l¢r IIIT unlinv ¢l)%ses. ￿h11$4 mainiainin fr¢e OPlioi)% lor iiii laii)ilies li lil) 11)£l! lia%'L LK'Iii 4lTlI?eliiiL. M'hile Ih¢ enrolnieni numbcrs ai ihc end Dl'il)L peiiti(I slioii 11101 Iliiri. i%ill b¢ a build brfilk required 10 reach pre-pandemi¢ Icvcls ILiaiii. K%e,iie ioiilideiii thai il'e 114ik¢ done evcr%lhinLJ lie ¢￿￿n Iv ensure the on?oing finan¢ial securii), ofihL Siudios. Financial RevieTh' Incoii)e coii)prised of class and membership fees ol£j?7.688 The surplus lor the jear ended il N12rch ?0? l Mas £79.)77 The Charih. s Tx>Iic)' 15 to proiid¢ the tn&iitnutn %rvicts to the cotnrnunity whilst re￿1￿1￿￿ sufficieni funds 10 meei lis financial obl1￿>all0fts. On the basis ofcash balances of£44.?59 a5 ai i I klarcli ?0? l. aiid (he renular cashflotks 4Treneraied from pa)Inenis for classes. Ihe financial 05iiion is conslsieni 14iih Ihe ChaTI lic¥ and re uirenienis. The ChariTh hold5 free re5eT¥'es of £39.1.4?9 which will be available 10 sUPtK)n ihe Charity 5 objecii%es. Emiiia I TrusicL' i l Janua ru51¢e5 Annual Re **REGISTERED COMPANY NUMBER: 07735710 (England and Wales) REGISTERED CHARITY NUMBER: 1153263** Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 March 2021 for ## INNOVATION DANCE STUDIOS LIMITED Khushkam Limited Chartered Certified Accountants 46-48 Byron Road Wealdstone Harrow Middlesex HA3 7SS INNOV A TION DANL I.. si'iir)i()S l.IMI"I I--D ort ofiliL' TrLisIL'L' T.-OR"I-I.IF. YEAR ENDED .1 I MARCI 17021 The IritsieL% wlio arc also diri'iiors nfihL charli% for Ihc purposc5 of Ihe Companies Act ?(Kl(). preseni iheir repon i%'iih Il)e fiiiJtlCllc l %iaiLiiiLiiis nl- Ilic cliarils for ihi ILar cndLd 31 ML1rch ?(b? l. The Irusices ha￿e gdopicd lh¥ proi'isions of Accoui)IiTi¥i and RcpL)rtinL by CliariliL%-. SiiilLnK'Iii ill. RLLoniiiiLndLd PraeiiLL applicablc lo chiiriliL5 prLpariniT accoLiiiiS in aLcoid11 IICL Iiiih ihe FinanLial RLPOrtin! Siandiiid &ippIiLable in the UK and RL'public of Irclalld IFRS I O? I lelTLLiiie l January ?0191. STRUCTURE, C:OVF.RNANCE AND MANAGF.MF.NT GoicrninR document Tlic cliariij is conirolled b) its L)oveTnino d(Icumcnl. a dLed of trusL and constitutes a limited company. limited by guaraiilee. as defiiiLd b) Ille Coiiipcl1)ie% Ail ?006. REFERF.NCF. AND ADMI￿lSTRATIvE DETAILS Re2i%tcred Compani. nurnher 077_")5710 l Liiglaiid and WalL%I RtRislcred Charity nurnber 1153263 Registered orrjce 96 - 98 Piishan2eT Lane Ealino l.ondon W.5 IQX Trustees Ms E I klardv compan￿ Dirn'cior D KeJiinL None Miss J Miler Ballei Misiriss TYlf that thr a¢counts of the Company arE rnt reqvittd to ke aUdI￿J urO¢r Part 16 of the 20￿ Act and a￿ eligibl¢ for independent examinatiot41 rrport in rW ofmy exami[￿tIOn ofyour eharitys a¢¢oullts ￿ carri¢d out under se¢tion 145 of th¢ Charities A¢1 20111II* 2011 In Ca￿Ing Out my examindK)n I ha￿ followed the Directions given by the Charity Commission undersedim 14515) (b) of thE2011 A¢L Independent ex%minerfssiattm¢o1 Since your charitys gTOSS income exceeded £250.OLK) your examirKr rnll￿ be a member of a listed body. I can confjmi thai l am qualified 10 underrake the examiwon becaw l am a regi##ed JKmb¢r ofACCA which ￿ one of the listed bodies. I have complrfed my examinatiw. l ¢onfimi that kve to my •￿eD[lon in conncdion with the examin*ion givingn* Ca￿ to klie￿.. ac¢(xJnting r¢wrds were [￿1 kew in resm ofthe c￿&5 reqywed by secrion 386ofthe 2006 Ad: or the accwnts do not w>rd with those r¢¢(rt' or the accryints do rrtbt wmply wsth th¢ arcowrtin8 rtquirrments of section 396 of the 2006 Art th¢r than any Tequirernetli that the accrMmts Sive a true and fai¥ v¢*￿1(￿ is n(4 a maiierconsidered as pffi ofan independth examination- th¢ acGouTts have Thjt been pftparrd in accordance the JrtthL*ts and princip1¢5 of th¢ Ststem¢nt of Recommended Prartice for Kcoumingand repjrtingby chariiie5 lapplicabk to ¢hariti¢5 pr¢paring their aCCo￿ts in a¢Cord￿ with the Finartial ReKthingStsndard *pplttable in the UK a￿fj Re￿b]I¢ of Ireland {FRS 1021}. T have no Conce￿ and have CO￿ arr05s no Lth maUtf5 in with the examination to which aueniion should drawn ¥eFx)rt in orderto umble a pwyer unde￿]￿8 of theaC¢O￿ts tok reacb Sangita Patel ACCA Khushkam Limi*d Ch&rttrcd Certified Aecoutl￿ts 4648 Byron Road Wealdstone Harrow Middle5CX HA3 7&8 INNOVATION DANCE STUDIOS LIMITED ## Statement of Financial Activities FOR THE YEAR ENDED 31 MARCH 2021 |31.3.21
Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
327,688
Other trading activities
2
(105,587)
Investment income
3
32,511
Other income
25,768
**Total**
280,380
**EXPENDITURE ON**
Raising funds
4
4,564
**Charitable activities**
General
196,444
Other
-
**Total**
201,008
**NET INCOME**
79,372
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
314,057
**TOTAL FUNDS CARRIED FORWARD**
393,429|31.3.20
Total
funds
£
556,280
(256,057)
18,464
-
318,687
7,295
230,641
12,003
249,939
68,748
245,309
314,057| |---|---| The notes form part of these financial statements Page 3 INNOVATION DANCE STUDIOS LIMITED ## Balance Sheet ## 31 MARCH 2021 |Notes
**FIXED ASSETS**
Tangible assets
8
Investments
9
**CURRENT ASSETS**
Debtors
10
Cash at bank
**CREDITORS**
Amounts falling due within one year
11
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**CREDITORS**
Amounts falling due after more than one year
12
**NET ASSETS**
**FUNDS**
14
Unrestricted funds
**TOTAL FUNDS**|31.3.21
Unrestricted
fund
£
827,601
344,899
1,172,500
8,184
44,259
52,443
(206,384)
(153,941)
1,018,559
(625,130)
393,429
393,429
393,429|31.3.20
Total
funds
£
815,417
349,665
1,165,082
12,537
8,048
20,585
(293,689)
(273,104)
891,978
(577,921)
314,057
314,057
314,057| |---|---|---| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021. The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 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. The notes form part of these financial statements continued... Page 4 INNOV ATION DANCE STUDIOS LIMITED Balaiice Shecl- eothlinued -11 MARCH ?O?I These financial ￿aleMen15 have been prepared in accoidance with ihe provisions applicable 10 chariiable companies subjeci io ihe small coinpanies regime. The finan ial siaiemenis were approved by the Board of Trustees and authorised for issue - and ￿'ere signed on its behalf by.. on 3.1. EJHardy- usie The noies forni pan of these financial sthiements Pag¢ 5 INNOVATION DANCE STUDIOS LIMITED Notes to the Financial Statements FOR THE YEAR ENDED 31 MARCH 2021 ## **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. ## **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. ## **Tangible fixed assets** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. ## **Taxation** The charity is exempt from corporation tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **Pension costs and other post-retirement benefits** The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. ## **2. OTHER TRADING ACTIVITIES** |Choreography & visual costs
Dancewear purchased
Teachers' Fees
Examination fees
Studio hire|31.3.21
£
(6,799)
-
(60,254)
(69)
(38,465)
(105,587)|31.3.20
£
(6,832)
(18,779)
(188,967)
(13,539)
(27,940)
(256,057)| |---|---|---| continued... Page 6 INNOVATION DANCE STUDIOS LIMITED ## Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2021 |**3.**
**INVESTMENT INCOME**
Rents received
Sundry receipts
Deposit account interest
**4.**
**RAISING FUNDS**
**Investment management costs**
Property repairs
**5.**
**NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets
**6.**
**TRUSTEES' REMUNERATION AND BENEFITS**
Trustees' salaries
Trustees' social security
Trustees' pension contributions to defined benefit schemes
**Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 March 2021 nor for the
**7.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**|31.3.21
31.3.20
£
£
9,563
14,696
22,925
3,650
23
118
32,511
18,464
31.3.21
31.3.20
£
£
4,456
2,151
31.3.21
31.3.20
£
£
5,824
1,763
31.3.21
31.3.20
£
£
80,000
95,000
4,255
10,729
-
2,481
84,255
108,210
year ended 31 March 202| |---|---| There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020. |**INCOME AND ENDOWMENTS FROM**||Unrestricted
fund
£| |---|---|---| |Donations and legacies||556,280| |Other trading activities||(256,057)| |Investment income||18,464| |**Total**||318,687| |**EXPENDITURE ON**||| |Raising funds||7,295| |**Charitable activities**||| |General||230,641| ||Page 7|continued...| Page 7 INNOVATION DANCE STUDIOS LIMITED ## Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2021 ## **7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued** |Other
**Total**
**NET INCOME**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**
**TANGIBLE FIXED ASSETS**
**COST**
At 1 April 2020
Additions
At 31 March 2021
**DEPRECIATION**
At 1 April 2020
Charge for year
At 31 March 2021
**NET BOOK VALUE**
At 31 March 2021
At 31 March 2020
**FIXED ASSET INVESTMENTS**
Loans
At 1 April 2020
New in year
At 31 March 2021|Freehold
property
£
753,362
-
753,362
-
-
-
753,362
753,362|Short
leasehold
£
56,767
-
56,767
-
-
-
56,767
56,767|Unrestricted
fund
£
12,003
249,939
68,748
245,309
314,057
Fixtures
and
fittings
Totals
£
£
27,614
837,743
18,008
18,008
45,622
855,751
22,326
22,326
5,824
5,824
28,150
28,150
17,472
827,601
5,288
815,417
31.3.21
31.3.20
£
£
344,899
349,665
Loans to
group
undertakings
£
349,665
(4,766)
344,899| |---|---|---|---| ## **8. TANGIBLE FIXED ASSETS** ## **9. FIXED ASSET INVESTMENTS** continued... Page 8 INNOVATION DANCE STUDIOS LIMITED ## Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2021 ## **9. FIXED ASSET INVESTMENTS - continued** There were no investment assets outside the UK. ## **10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |31.3.21
£
Trade debtors
2,934
Prepayments and accrued income
5,250
8,184
**11.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
31.3.21
£
Bank loans and overdrafts (see note 13)
-
Trade creditors
-
Social security and other taxes
2,762
Other creditors
200,622
Accruals and deferred income
10,559
Accrued expenses
(7,559)
206,384
**12.**
**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
31.3.21
£
Bank loans (see note 13)
625,130
**13.**
**LOANS**
An analysis of the maturity of loans is given below:
31.3.21
£
Amounts falling due within one year on demand:
Bank loans
-
Amounts falling between one and two years:
Bank loans - 1-2 years
53,609
Amounts falling due between two and five years:
Bank loans - 2-5 years
228,834
Amounts falling due in more than five years:
Repayable by instalments:
Bank loans more 5 yr by instal
342,687|31.3.20
£
-
12,537
12,537
31.3.20
£
62,835
2,407
3,378
214,510
10,559
-
293,689
31.3.20
£
577,921
31.3.20
£
62,835
53,609
153,540
370,772| |---|---| continued... Page 9 INNOVATION DANCE STUDIOS LIMITED ## Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2021 ## **14. MOVEMENT IN FUNDS** |At 1.4.20
£
**Unrestricted funds**
General fund
314,057
**TOTAL FUNDS**
314,057
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
280,380
**TOTAL FUNDS**
280,380
**Comparatives for movement in funds**
At 1.4.19
£
**Unrestricted funds**
General fund
245,309
**TOTAL FUNDS**
245,309
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
318,687
**TOTAL FUNDS**
318,687|Net
movement
At
in funds
31.3.21
£
£
79,372
393,429
79,372
393,429
Resources
Movement
expended
in funds
£
£
(201,008)
79,372
(201,008)
79,372
Net
movement
At
in funds
31.3.20
£
£
68,748
314,057
68,748
314,057
Resources
Movement
expended
in funds
£
£
(249,939)
68,748
(249,939)
68,748| |---|---| continued... Page 10 INNOVATION DANCE STUDIOS LIMITED ## Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2021 ## **14. MOVEMENT IN FUNDS - continued** A current year 12 months and prior year 12 months combined position is as follows: |**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1.4.19
£
245,309
245,309|Net
movement
in funds
£
148,120
148,120|At
31.3.21
£
393,429
393,429| |---|---|---|---| 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
**TOTAL FUNDS**|Incoming
resources
£
599,067
599,067|Resources
Movement
expended
in funds
£
£
(450,947)
148,120
(450,947)
148,120| |---|---|---| ## **15. RELATED PARTY DISCLOSURES** The two trustees, Ms E J Hardy ans Ms Z C Newell were both paid a salary at the prevailing market rate. Page 11 **REGISTERED COMPANY NUMBER: 07735710 (England and Wales) REGISTERED CHARITY NUMBER: 1153263** Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 March 2021 for ## INNOVATION DANCE STUDIOS LIMITED Khushkam Limited Chartered Certified Accountants 46-48 Byron Road Wealdstone Harrow Middlesex HA3 7SS INNOV A TION DANL I.. si'iir)i()S l.IMI"I I--D ort ofiliL' TrLisIL'L' T.-OR"I-I.IF. YEAR ENDED .1 I MARCI 17021 The IritsieL% wlio arc also diri'iiors nfihL charli% for Ihc purposc5 of Ihe Companies Act ?(Kl(). preseni iheir repon i%'iih Il)e fiiiJtlCllc l %iaiLiiiLiiis nl- Ilic cliarils for ihi ILar cndLd 31 ML1rch ?(b? l. The Irusices ha￿e gdopicd lh¥ proi'isions of Accoui)IiTi¥i and RcpL)rtinL by CliariliL%-. SiiilLnK'Iii ill. RLLoniiiiLndLd PraeiiLL applicablc lo chiiriliL5 prLpariniT accoLiiiiS in aLcoid11 IICL Iiiih ihe FinanLial RLPOrtin! Siandiiid &ippIiLable in the UK and RL'public of Irclalld IFRS I O? I lelTLLiiie l January ?0191. STRUCTURE, C:OVF.RNANCE AND MANAGF.MF.NT GoicrninR document Tlic cliariij is conirolled b) its L)oveTnino d(Icumcnl. a dLed of trusL and constitutes a limited company. limited by guaraiilee. as defiiiLd b) Ille Coiiipcl1)ie% Ail ?006. REFERF.NCF. AND ADMI￿lSTRATIvE DETAILS Re2i%tcred Compani. nurnher 077_")5710 l Liiglaiid and WalL%I RtRislcred Charity nurnber 1153263 Registered orrjce 96 - 98 Piishan2eT Lane Ealino l.ondon W.5 IQX Trustees Ms E I klardv compan￿ Dirn'cior D KeJiinL None Miss J Miler Ballei Misiriss TYlf that thr a¢counts of the Company arE rnt reqvittd to ke aUdI￿J urO¢r Part 16 of the 20￿ Act and a￿ eligibl¢ for independent examinatiot41 rrport in rW ofmy exami[￿tIOn ofyour eharitys a¢¢oullts ￿ carri¢d out under se¢tion 145 of th¢ Charities A¢1 20111II* 2011 In Ca￿Ing Out my examindK)n I ha￿ followed the Directions given by the Charity Commission undersedim 14515) (b) of thE2011 A¢L Independent ex%minerfssiattm¢o1 Since your charitys gTOSS income exceeded £250.OLK) your examirKr rnll￿ be a member of a listed body. I can confjmi thai l am qualified 10 underrake the examiwon becaw l am a regi##ed JKmb¢r ofACCA which ￿ one of the listed bodies. I have complrfed my examinatiw. l ¢onfimi that kve to my •￿eD[lon in conncdion with the examin*ion givingn* Ca￿ to klie￿.. ac¢(xJnting r¢wrds were [￿1 kew in resm ofthe c￿&5 reqywed by secrion 386ofthe 2006 Ad: or the accwnts do not w>rd with those r¢¢(rt' or the accryints do rrtbt wmply wsth th¢ arcowrtin8 rtquirrments of section 396 of the 2006 Art th¢r than any Tequirernetli that the accrMmts Sive a true and fai¥ v¢*￿1(￿ is n(4 a maiierconsidered as pffi ofan independth examination- th¢ acGouTts have Thjt been pftparrd in accordance the JrtthL*ts and princip1¢5 of th¢ Ststem¢nt of Recommended Prartice for Kcoumingand repjrtingby chariiie5 lapplicabk to ¢hariti¢5 pr¢paring their aCCo￿ts in a¢Cord￿ with the Finartial ReKthingStsndard *pplttable in the UK a￿fj Re￿b]I¢ of Ireland {FRS 1021}. T have no Conce￿ and have CO￿ arr05s no Lth maUtf5 in with the examination to which aueniion should drawn ¥eFx)rt in orderto umble a pwyer unde￿]￿8 of theaC¢O￿ts tok reacb Sangita Patel ACCA Khushkam Limi*d Ch&rttrcd Certified Aecoutl￿ts 4648 Byron Road Wealdstone Harrow Middle5CX HA3 7&8 INNOVATION DANCE STUDIOS LIMITED ## Statement of Financial Activities FOR THE YEAR ENDED 31 MARCH 2021 |31.3.21
Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
327,688
Other trading activities
2
(105,587)
Investment income
3
32,511
Other income
25,768
**Total**
280,380
**EXPENDITURE ON**
Raising funds
4
4,564
**Charitable activities**
General
196,444
Other
-
**Total**
201,008
**NET INCOME**
79,372
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
314,057
**TOTAL FUNDS CARRIED FORWARD**
393,429|31.3.20
Total
funds
£
556,280
(256,057)
18,464
-
318,687
7,295
230,641
12,003
249,939
68,748
245,309
314,057| |---|---| The notes form part of these financial statements Page 3 INNOVATION DANCE STUDIOS LIMITED ## Balance Sheet ## 31 MARCH 2021 |Notes
**FIXED ASSETS**
Tangible assets
8
Investments
9
**CURRENT ASSETS**
Debtors
10
Cash at bank
**CREDITORS**
Amounts falling due within one year
11
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**CREDITORS**
Amounts falling due after more than one year
12
**NET ASSETS**
**FUNDS**
14
Unrestricted funds
**TOTAL FUNDS**|31.3.21
Unrestricted
fund
£
827,601
344,899
1,172,500
8,184
44,259
52,443
(206,384)
(153,941)
1,018,559
(625,130)
393,429
393,429
393,429|31.3.20
Total
funds
£
815,417
349,665
1,165,082
12,537
8,048
20,585
(293,689)
(273,104)
891,978
(577,921)
314,057
314,057
314,057| |---|---|---| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021. The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 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. The notes form part of these financial statements continued... Page 4 INNOV ATION DANCE STUDIOS LIMITED Balaiice Shecl- eothlinued -11 MARCH ?O?I These financial ￿aleMen15 have been prepared in accoidance with ihe provisions applicable 10 chariiable companies subjeci io ihe small coinpanies regime. The finan ial siaiemenis were approved by the Board of Trustees and authorised for issue - and ￿'ere signed on its behalf by.. on 3.1. EJHardy- usie The noies forni pan of these financial sthiements Pag¢ 5 INNOVATION DANCE STUDIOS LIMITED Notes to the Financial Statements FOR THE YEAR ENDED 31 MARCH 2021 ## **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. ## **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. ## **Tangible fixed assets** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. ## **Taxation** The charity is exempt from corporation tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **Pension costs and other post-retirement benefits** The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. ## **2. OTHER TRADING ACTIVITIES** |Choreography & visual costs
Dancewear purchased
Teachers' Fees
Examination fees
Studio hire|31.3.21
£
(6,799)
-
(60,254)
(69)
(38,465)
(105,587)|31.3.20
£
(6,832)
(18,779)
(188,967)
(13,539)
(27,940)
(256,057)| |---|---|---| continued... Page 6 INNOVATION DANCE STUDIOS LIMITED ## Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2021 |**3.**
**INVESTMENT INCOME**
Rents received
Sundry receipts
Deposit account interest
**4.**
**RAISING FUNDS**
**Investment management costs**
Property repairs
**5.**
**NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets
**6.**
**TRUSTEES' REMUNERATION AND BENEFITS**
Trustees' salaries
Trustees' social security
Trustees' pension contributions to defined benefit schemes
**Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 March 2021 nor for the
**7.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**|31.3.21
31.3.20
£
£
9,563
14,696
22,925
3,650
23
118
32,511
18,464
31.3.21
31.3.20
£
£
4,456
2,151
31.3.21
31.3.20
£
£
5,824
1,763
31.3.21
31.3.20
£
£
80,000
95,000
4,255
10,729
-
2,481
84,255
108,210
year ended 31 March 202| |---|---| There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020. |**INCOME AND ENDOWMENTS FROM**||Unrestricted
fund
£| |---|---|---| |Donations and legacies||556,280| |Other trading activities||(256,057)| |Investment income||18,464| |**Total**||318,687| |**EXPENDITURE ON**||| |Raising funds||7,295| |**Charitable activities**||| |General||230,641| ||Page 7|continued...| Page 7 INNOVATION DANCE STUDIOS LIMITED ## Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2021 ## **7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued** |Other
**Total**
**NET INCOME**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**
**TANGIBLE FIXED ASSETS**
**COST**
At 1 April 2020
Additions
At 31 March 2021
**DEPRECIATION**
At 1 April 2020
Charge for year
At 31 March 2021
**NET BOOK VALUE**
At 31 March 2021
At 31 March 2020
**FIXED ASSET INVESTMENTS**
Loans
At 1 April 2020
New in year
At 31 March 2021|Freehold
property
£
753,362
-
753,362
-
-
-
753,362
753,362|Short
leasehold
£
56,767
-
56,767
-
-
-
56,767
56,767|Unrestricted
fund
£
12,003
249,939
68,748
245,309
314,057
Fixtures
and
fittings
Totals
£
£
27,614
837,743
18,008
18,008
45,622
855,751
22,326
22,326
5,824
5,824
28,150
28,150
17,472
827,601
5,288
815,417
31.3.21
31.3.20
£
£
344,899
349,665
Loans to
group
undertakings
£
349,665
(4,766)
344,899| |---|---|---|---| ## **8. TANGIBLE FIXED ASSETS** ## **9. FIXED ASSET INVESTMENTS** continued... Page 8 INNOVATION DANCE STUDIOS LIMITED ## Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2021 ## **9. FIXED ASSET INVESTMENTS - continued** There were no investment assets outside the UK. ## **10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |31.3.21
£
Trade debtors
2,934
Prepayments and accrued income
5,250
8,184
**11.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
31.3.21
£
Bank loans and overdrafts (see note 13)
-
Trade creditors
-
Social security and other taxes
2,762
Other creditors
200,622
Accruals and deferred income
10,559
Accrued expenses
(7,559)
206,384
**12.**
**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
31.3.21
£
Bank loans (see note 13)
625,130
**13.**
**LOANS**
An analysis of the maturity of loans is given below:
31.3.21
£
Amounts falling due within one year on demand:
Bank loans
-
Amounts falling between one and two years:
Bank loans - 1-2 years
53,609
Amounts falling due between two and five years:
Bank loans - 2-5 years
228,834
Amounts falling due in more than five years:
Repayable by instalments:
Bank loans more 5 yr by instal
342,687|31.3.20
£
-
12,537
12,537
31.3.20
£
62,835
2,407
3,378
214,510
10,559
-
293,689
31.3.20
£
577,921
31.3.20
£
62,835
53,609
153,540
370,772| |---|---| continued... Page 9 INNOVATION DANCE STUDIOS LIMITED ## Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2021 ## **14. MOVEMENT IN FUNDS** |At 1.4.20
£
**Unrestricted funds**
General fund
314,057
**TOTAL FUNDS**
314,057
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
280,380
**TOTAL FUNDS**
280,380
**Comparatives for movement in funds**
At 1.4.19
£
**Unrestricted funds**
General fund
245,309
**TOTAL FUNDS**
245,309
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
318,687
**TOTAL FUNDS**
318,687|Net
movement
At
in funds
31.3.21
£
£
79,372
393,429
79,372
393,429
Resources
Movement
expended
in funds
£
£
(201,008)
79,372
(201,008)
79,372
Net
movement
At
in funds
31.3.20
£
£
68,748
314,057
68,748
314,057
Resources
Movement
expended
in funds
£
£
(249,939)
68,748
(249,939)
68,748| |---|---| continued... Page 10 INNOVATION DANCE STUDIOS LIMITED ## Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2021 ## **14. MOVEMENT IN FUNDS - continued** A current year 12 months and prior year 12 months combined position is as follows: |**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1.4.19
£
245,309
245,309|Net
movement
in funds
£
148,120
148,120|At
31.3.21
£
393,429
393,429| |---|---|---|---| 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
**TOTAL FUNDS**|Incoming
resources
£
599,067
599,067|Resources
Movement
expended
in funds
£
£
(450,947)
148,120
(450,947)
148,120| |---|---|---| ## **15. RELATED PARTY DISCLOSURES** The two trustees, Ms E J Hardy ans Ms Z C Newell were both paid a salary at the prevailing market rate. Page 11