Registered number CE023772
Adagio College of Performing Arts
Report and Accounts
31 July 2024
Charity number: 1191115
Adagio College of Performing Arts Registered number: CE023772 Directors' Report
The directors present their report and accounts for the period ended 31 July 2024.
Principal activities
The company's principal activity during the year was running of a Dance College.
Trustees
The following persons served as trustees during the period:
Mr R Davinson Mr P Crick Mrs T Stanyon
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 24 February 2025 and signed on its behalf.
Mr R Davinson Director
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Adagio College of Performing Arts Statement of Financial Activities for the period from 1 October 2023 to 31 July 2024
| Total incoming resources Total resources expended Net movement in funds for the year Net movement in funds before other recognised gains and losses |
2024 £ 380,496 (312,767) 67,729 67,729 |
2023 £ 332,086 (311,776) 20,310 20,310 |
|---|---|---|
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Adagio College of Performing Arts Registered number: CE023772 Statement of Financial Position as at 31 July 2024
| Notes Current assets Stocks Debtors 3 Cash at bank and in hand Creditors: amounts falling due within one year 4 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 5 Net assets Representing: The Funds of the Charity Unrestricted income funds Shareholders' funds |
2024 £ 5,276 198,175 3,474 206,925 (105,614) 101,311 101,311 - 101,311 101,311 101,311 |
2023 £ 2,003 106,713 13,857 122,573 (88,441) 34,132 34,132 (550) 33,582 33,582 33,582 |
|---|---|---|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
Mr R Davinson Director Approved by the board on 24 February 2025
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Adagio College of Performing Arts Notes to the Accounts for the period from 1 October 2023 to 31 July 2024
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
| Freehold buildings | over 50 years |
|---|---|
| Leasehold land and buildings | over the lease term |
| Plant and machinery | over 5 years |
| Fixtures, fittings, tools and equipment | over 5 years |
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
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Adagio College of Performing Arts Notes to the Accounts
for the period from 1 October 2023 to 31 July 2024
| 2 Employees Average number of persons employed by the company 3 Debtors Trade debtors Other debtors 4 Creditors: amounts falling due within one year Trade creditors Other creditors 5 Creditors: amounts falling due after one year Other creditors |
2024 Number 3 2024 £ 9,378 188,797 198,175 2024 £ 44,000 61,614 105,614 2024 £ - |
2023 Number 3 2023 £ 50,245 56,468 106,713 2023 £ 654 87,787 88,441 2023 £ 550 |
|---|---|---|
6 Other information
Adagio College of Performing Arts is a private company limited by shares and incorporated in England. Its registered office is: 661 Rayleigh Road
Hutton Brentwood Essex CM13 1SS
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Adagio College of Performing Arts Detailed profit and loss account for the period from 1 October 2023 to 31 July 2024
This schedule does not form part of the statutory accounts
| Sales Administrative expenses Operating profit Profit before tax |
2024 £ 380,496 (312,767) 67,729 67,729 |
2023 £ 332,086 (311,776) 20,310 20,310 |
|---|---|---|
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Adagio College of Performing Arts Detailed profit and loss account for the period from 1 October 2023 to 31 July 2024
This schedule does not form part of the statutory accounts
| Incoming resources Charitable activities Donations and legacies Sales of product income Services Resources expended Employee costs: Payroll: Teachers Travel and subsistence Premises costs: Rent Rates Light and heat Cleaning General administrative expenses: Telephone and internet Stationery and printing Cost of sales Office/Admin expense Venue & Costume hire Bank charges Insurance Equipment hire Repairs and maintenance Exam fees Sundry expenses Legal and professional costs: Advertising and PR Other legal and professional |
2024 £ 47,647 4,000 728 328,121 380,496 119,649 508 120,157 84,350 617 16,000 1,500 102,467 5,500 - 8,000 22,149 1,205 4,500 3,500 4,701 10,045 18,478 - 78,078 5,954 6,111 12,065 312,767 |
2023 £ 46,361 29,185 697 255,843 332,086 93,261 - 93,261 131,000 8,617 16,000 - 155,617 5,000 38 9,206 - 7,515 - 5,500 3,881 12,000 7,993 963 52,096 5,930 4,872 10,802 311,776 |
|---|---|---|
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