2024-03-31-accounts - Innovation Dance Studios Ltd

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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 2024. 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

10/09/2024

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.

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 stopped due to the pandemic, as most schools stopped provision of extra-curricular by outside providers. Post pandemic, this was resumed in schools in Barnet and Ealing, and we hope to increase this provision further. Currently we have found budget cuts to the arts a limiting factor in this re-build, but will continue to prioritise and to build where we can. 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 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.

Trustees Annual Report

10/09/2024

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. 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 we had to re-build the student base. This has also been influenced by the cost of living crisis, which has had an effect on student numbers. We are working with families where we can to ensure that children still have access to training, through things such as payment plans and reduced price training for families who may be struggling. We are very close to having fully re-built student participation numbers to pre-pandemic levels.

To fully 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 the facility is in place for students to maintain progression and retain links with their peers and teachers - since the pandemic we have found this has been useful for students who have moved away from London, but who still want to train at our studio and retain their links with peers and teachers - our online provision has allowed them to still join class despite no longer living in the same area.
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.
To fully 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. This is very close and we are currently at 97% of pre-pandemic levels.

Trustees Annual Report

10/09/2024

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 provide at least two performance opportunities per year to each student, with one being in a professional theatre environment.
To provide exam provision in RAD Ballet, RAD Tap/Modern, UDO Street Dance and GCSE Dance, 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 – this is through contact with reception staff who can interact with teachers and parents to pass on information if teachers are busy in class, and with teachers in an established ‘Parents Watch Week’ which take place in class at the end of each term.

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. This style of teaching is currently greatly reduced at the studio, but is offered for students if unwell or for those who have moved away from the area, but still wish to train at the studios.

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 that 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.

Trustees Annual Report

10/09/2024

Our work in schools is less structured and allows us to be more inclusive . 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 we were able to take children to perform at the community events ‘Lighting Up The Lane’ in November 2023, and ‘Party in the Park’ in July 2023. We were also able to run a week long theatre production at Questors Theatre, which is a local professional theatre in Ealing. 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 also ran four performances at The Arts Depot in July 2023 for students at our North Finchley branch, a showcase in their studio theatre for senior students in December 2023, and a community dance event outside on Finchley High Road in June 2023. All events were very warmly received and great performance opportunities for our students.

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.

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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. We also ran a ‘Trampoline Park Sleepover’ during this period from this funding, which was a fantastic event in promoting peer bonding. 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.

10/09/2024 Trustees Annual Report

Activities and achievements

Pupil numbers

We finish this period with pupil numbers signed up to attend the Summer 2024 Term at 97% of our pre-pandemic enrolment period, and aim to use the upcoming year to re-build to 100%. We had hoped to re-build to 100% by the end of this year, but found that the cost of living crisis impacted pupil numbers. However, numbers are still increasing, and we feel this is a strong achievement in the face of the challenges of the last few years.

Public Performance

We had a fantastic year of performances with our students. At the Ealing studio, we ran a week long theatre production involving all students at the studio during the summer, and two community events in June and December. At the Finchley studio, we ran a full school theatre production in the summer, a senior students showcase performance in December, and a community event in June.
Our gifted and talented students were able to return to competitions fully during this year. Our street dance troupes attended six regional competitions, plus the World Street Dance Championships in the summer. In the regional events, students achieved multiple placings, in team events, solos and duos. At the World Championships, we were delighted for two teams to reach the finals, with one placing 5th and the other two teams placing 6th. Three soloists and one duo pair also reached the finals, placing 4th, 2nd, 7th and 6th respectively. Our contemporary troupe attended four competitions, achieving two 1st placings, and two 2nd placings.
We were able to attend two community events with our Ealing students and one event with our Finchley students.

Measurable Student Progression

Examinations all returned to running as normal, with examiners able to come to our studios to conduct in-person exams. Within this year, we ran exams in RAD Ballet, ISTD TAP/Modern and UDO Street Dance. Students in all exam sessions achieved 100% pass rate. We 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. As we take a new cohort every two years, we did not have students finishing the course this year, but we look forward to seeing their results next summer.
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

Trustees Annual Report

10/09/2024

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 both the Ealing and Finchley studios, with over twenty-five students studying Intermediate and Intermediate Foundation grades.

During this period, several pupils were 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, Urdang, The Brit School, Arts Educational School and Wilkes Academy. We wish them the very best with their ongoing training.

Trustees Annual Report

10/09/2024

Financial Review

Financial Performance

Income comprised of class and membership fees of £571,603 (2023 – £526,741)
The surplus for the year ended 31 March 2024 was £17,363 (2023 – deficit £11,761)

Financial position

The Charity’s policy is to provide the maximum services to the community whilst retaining sufficient funds to meet its financial obligations. On the basis of cash balances of £17,684 as at 31 March 2024, and the regular cashflows generated from payments for classes, the financial position is consistent with the Charity’s policy and requirements.
The Charity holds free reserves of £458,093 which will be available to support the Charity’s objectives.

Emma Hardy

Trustee

10 September 2024

Trustees Annual Report

10/09/2024

REGISTERED COMPANY NUMBER: 07735710 (England and Wales) REGISTERED CHARITY NUMBER: 1153263 orl of the Trustees and Unaudited Financial Statements for the Year Ended 31 March 2024 for Innovation Dance Studios Limited Khushkam Limited 46-48 Byron Road Wealdstone Harrow Middlesex HA3 7SS

Innovation Dance Studios Limited Conlents of the Financial Statements for the Year Ended 31 March 2024 Page Report of the Trustees Independent Examiner's Report 2 to 3 Statement of Financial Activities Balance Sheet 5 to 6 Notes to the Financial Statements 7 to 13

Innovation Dance Studios Limited istered number: 07735710 ort of the Trustees for the Ye2r Endad 31 March 2024 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice 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). STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governing document. a deed of trust, and constitutes a limited company. limited by guarantee, as defined by the Companies Act 2006. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 07735710 (England and Wales) Registered Charity number 1153263 Registered office 96-98 Pitshanger Lane Ealing Middlesex W51QX Trustees Ms E J Hardy Company Director D Keating Company director Ms J Miler Company director Miss Z C Newell Company Director Independent Examiner San9lta Hitesh Patel FCCA Khushkam Limited 46-48 Byron Road Wealdstone Harrow Middlp.8gx HA3 7SS Approved by order of the board of trustees on 10 September 2024 and signed on its behalf by: Miss Z C Newell - Trustee Page 1

Inde endent Examiner's Re ort to the Trustees of Innovation Dan Sludios Limited Independent examin8r's report to tho trust8as of Innovalion Dance Studios Limited ('the Company.) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024. Responsibilities and basis of report As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'l. Havlng satisfied myself that the accounts of the Company are not requlred 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 charity's accounts as carried out under Section 145 of the Charities Act 2011 {'the 2011 Act'}. In carrying oul my examination I have followed the Directions given by the Charity Commission under Section 145{5) (b) of the 2011 Act. Page 2

Inde endent Examiner's Re ort to the Trustees of Innovation Dan Sludios Limited Independent examiner's statement Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that l am qualified to undertake the examinalion because l am a member of the Association of Chartered Certified Accountants, 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: accounting records were not kept In respect of the Company as requlred by Sectlon 386 of the 2006 Acl. or the accounts do not accord with those records; or the accounts do not comply with the accounling requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination- or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporiing by charities (applicable to charities preparing their accounts In accordance wlth the Financlal Reportlng Standard appllcable In the UK and Republic of Ireland (FRS 102)). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Sangita Hitesh Patel FCCA The Association of Chartered Certified Accountants Khushkam Limited 46-48 Byron Road Wealdstone Harrow Middlesex HA3 7SS 12 September 2024 Page 3

Innovation Dance Studios Limited Statement of Financial Activities for the Ye2r Endad 31 March 2024 31.3.24 Unrestricted fvnd 31.3.23 Total funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 571,603 526,741 other trading activitles Investment income Total (334,020} 17,782 255,365 (318,920) 16,927 224,748 EXPENDITURE ON Raising funds 3,181 3,685 Charitable activities General Total 234,821 238,002 232 824 236,509 NET INCOMEI(EXPENDITURE) 17,363 (11,761) RECONCILIATION OF FUNDS Total funds brought forward 440,730 452,491 TOTAL FUNDS CARRIED FORWARD 458 093 The notes form part of these financial statements Page 4

Innovation Dance Studios Limited istered number: 07735710 Balance Sheet 31 March 2024 31.3.24 Unrestricted fvnd 31.3.23 Total funds Notes FIXED ASSETS Tangible assets Investments 817,163 356,442 1,173,605 819,507 356,442 1,175,949 10 CURRENT ASSETS Debtors Cash at bank 11 47,185 17,684 64,869 5,250 22,110 27,360 CREDITORS Amounts falling due within one year 12 {156,511) (201,614) NET CURRENT ASSETS 91,642) 174,254) TOTAL ASSETS LESS CURRENT LIABILITIES 1,081,963 1,001,695 CREDITORS Amounts falling due after more than one year 13 {623,870> (560,965) NET ASSETS FUNDS Unrestricted funds TOTAL FUNDS 458 093 440 730 15 458,093 458 093 440,730 440 730 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024. The members have not required the company to obtain an audit of ils financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006. The notes form part of these financial statements Page 5 continued...

Innovation Dance Studios Limited istered number: 07735710 Balance Sheet - continued 31 March 2024 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. These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial ststements were approved by the Board of Trustees and authorised for issue on 10 September 2024 and were signed on its behalf by: Z C Newell - Trustee E J Hardy - Trustee The notes form part of these financial statements Page 6

Innovation Dance Studios Limited Notes to the Financial Statements for the Ye2r Endad 31 March 2024 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 Standaré applicable in the UK and Republic of Ireland. and the Companie5 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 cbligation 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 Glassified under headings thal aggregate all Gost related to the Gategory. Where costs cannot be directly attributed to partlcular headings they have been allocated to actlvitles on a basis consistent with the use of resources. Tangibl• fixèd assèts D8preciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Fixtures and fittings 25 % on reducing balance Taxation The charlty Is exempt from corporatlon tax on its charitable actlvlties. 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 restricled 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 ststements. Pension costs and other post-retirement benefits The charitable company oper2tes a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Slatement of Financial Activities in the period to which they relate. Page 7 continued...

Innovation Dance Studios Limited Notes to the Financial Statements continued for the Ye2r Endad 31 March 2024 OTHER TRADING ACTIVITIES 31.3.24 31.3.23 Choreography & visual costs Dancewear purchased Teachers, fees Examination fees Studio hire (27.155) (15,291) (227,701) (19,761) 44,112) 334 020) (21,028) (21,669) (221,113) (12,258) 42,852) 318 920) INVESTMENT INCOME 31.3.24 31.3.23 Rents received Deposit account interast 17,700 82 16,900 27 RAISING FUNDS Investment management costs 31.3.24 31.3.23 Property repalrs NET INCOMEIIEXPENDITURE) Net incomel(expenditurel is slated afler chargingl(crediting): 31.3.24 31.3.23 Depreciation - owned assets TRUSTEES. REMUNERATION AND BENEFITS 31.3.24 31.3.23 Trustees, salaries Trustees, social security Trustees, pension contributions to money purchase schemes 100,000 6,620 2,294 108 914 100,000 7,033 2,626 109 659 Trustees. expenses There were no tru5tees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. Page 8 continued...

Innovation Dance Studios Limited Notes to the Financial Statements continued for the Ye2r Endad 31 March 2024 STAFF COSTS The average monthly number of employees during the year was as follows: 31.3.24 31.3.23 Management Dance staff No employees received emoluments in excess of £60,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund INCOME AND ENDOWMENTS FROM Donaiions and legacies 526,741 Other trading activities Investment income Total (318,920) 16,927 224,748 EXPENDITURE ON Raising funds 3,685 Charitable activities G8neral Total 232,824 236,509 NET INCOMEI(EXPENDITURE) (11,761) RECONCILIATION OF FUNDS Total funds brought forward 452,491 TOTAL FUNDS CARRIED FORWARD 440,730 Page 9 continued...

Innovation Dance Studios Limited Notes to the Financial Statements continued for the Ye2r Endad 31 March 2024 TANGIBLE FIXED ASSETS Fixtures and fittings Freehold property Short leasehold Totals COST At 1 April 2023 and 31 March 2024 DEPRECIATION At 1 April 2023 Charge for year At 31 March 2024 NET BOOK VALUE At 31 March 2024 At 31 March 2023 753,362 56.767 45,622 855.751 36,244 2,344 38 588 36,244 2,344 38,588 753 362 753 362 817 163 819 507 10. FIXED ASSET INVESTMENTS 31.3.24 31.3.23 Loans 356 442 Loans to group undertakings At 1 April 2023 and 31 March 2024 356 442 There were no investment assets outside the UK. 11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3,24 31.3,23 Other debtors Prepayments and accrued income 31,802 15,383 5,250 Page 10 continued...

Innovation Dance Studios Limited Notes to the Financial Statements continued for the Ye2r Endad 31 March 2024 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.24 31.3.23 Trade creditors Social security and other taxes Other creditors Accrued expenses 228 5,598 148,015 2,670 156511 421 2,975 195,218 3.000 201 614 13. CREDITORS: AMOUNTS FALLING DUE AFfER MORE THAN ONE YEAR 31.3.24 31.3.23 Bank loans (see note 14) 623 870 560 965 14. LOANS An analysis of the maturity of loans is given below,. 31.3.24 31.3.23 Amounts falling between one and two years: Bank loans - 1-2 years Amounts falling due between two and five years: Bank loans - 2-5 years Amounts falling due in more than five years: 228 834 228 834 Repayable by instalments: Bank loans more 5 yr by instal 257,091 279,522 15. MOVEMENT IN FUNDS Net movement in funds At 31.3.24 At 1,4.23 Unrestricted funds General fund 440,730 17,363 458,093 TOTAL FUNDS 440 730 458 093 Page11 continued...

Innovation Dance Studios Limited Notes to the Financial Statements continued for the Ye2r Endad 31 March 2024 15. MOVEMENT IN FUNDS - continued Net movement in funds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestrlcted funds General fund 255,365 (238,002) 17,363 TOTAL FUNDS 255,365 238,002) 17,363 Comparatlves for movement In funds Net movement in funds At 31.3.23 At 1,4.22 Unrestricted funds General fund 452,491 (11,761) 440,730 TOTAL FUNDS 452.491 11761) Comparatlve net movement In funds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestricted funds General fund 224,748 (236,509) (11,761) TOTAL FUNDS 224 748 A current year 12 months and prior year 12 months combined position is as follows: Net movement in funds At 31.3.24 At 1,4.22 Unrestricted funds General fund 452.491 5,602 458,093 TOTAL FUNDS 452 491 458 093 Page 12 continued...

Innovation Dance Studios Limited Notes to the Financial Statements continued for the Ye2r Endad 31 March 2024 15. MOVEMENT IN FUNDS - continued A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestricted funds General fund 480,113 (474,511) 5.602 TOTAL FUNDS 480.113 474511) 5,602 16. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 March 2024. Page 13

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