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
1
## **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|
|---|---|---|
2
## **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
3
**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.
4
## **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
5
## **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|
|---|---|---|
6
## **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|
|---|---|---|
7