Dance Associate Ltd - Statement of Financial Activities (including
Income & Expenditure Account) - For the year ended 31 March 2024
2024
2024
2023
Unrestrirted
Funds
Restrirted
Funds
Total Funds
Total Funds
Income
Income From Charitable Activities
Total Income
41,595
41,595
41,595
54,803
54,803
Expenditure
Expenditure on Charitable Activities
Total Expenditure
46.376
46,376
46.376
46,376
82,391
82,391
Net Movement in Funds
14.782)
(4.782)
(27,588}
Reconciliation of Funds..
Total Funds Brought Forward
Movement in the Year
Total Funds Carried FonKard
10,192
{4,782)
5,410
10,192
(4.782)
5.410
37,780
(27,588}
10,192
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Dance Associate Ltd - Balance Sheet - As At 31 March 2024
2024
Total Funds
2023
Total Funds
Fixed Assets
Tangible Fixed Assets
Total Fixed Assets
14,394
14,394
22,475
22,475
Current Assets
Cash in hand and at bank
Debtors
Total Current Assets
1,184
479
479
Creditors: amounts falling due within one year
4,311
3,711
Net CurrentAssets / Liabilities
{3,126)
13.232)
Total assets less current liabilities
11,267
19,243
Creditors: amounts falling due after one year
5,857
9,051
Total net assets or liabilities
5,411
10,192
Funds of the Charity
Unre5trirted funds
Restricted funds
Total funds
5,410
10, 192
5,410
10,192
For the year ending 05 April 2024. the company was entitled to exemption under section 477 of the
Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the
Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with
respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies
subject to the small companies, regime. The company is a charity for tax purposes in line with
Paragraph 1 of Schedule 6 Finance Act 2010. This took effect from 1910112019 and comes under
reference number.. N100914.
The financial statements were approved by the Board of Directors on 1711212024
SIGNED ON BEHALF OF THE BOARD BY:
Chairperson.. Peter Shannon
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Notes Forming Part of the Financial Statements for the Year Ended
31 March 2024
1. Company Status
Dance Associate is a company limited by guarantee, registered in Northern Ireland
(registration number: N1612228), and has no share capital. It is also a charity
registered in Northern Ireland (registration number: NIC106918).
2. Accounting Policies
The principal accounting policies applied in the preparation of these financial
statements are detailed below. These policies have been applied consistently
throughout the current and pre￿dIng financial year.
(a) Basis of Accounting
The financial statements have been prepared under the historical cost convention, as
modified by the inclusion of fixed asset investments at market value. They comply with
the Companies Act 2006 and the Statement of Recommended Practice: Accounting
and Reporting by Charities {SORP FRS 102), applicable to charities preparing their
accounts in accordan￿ with the Financial Reporting Standard applicable in the UK
and Republic of Ireland (FRS 102).
(b) Fund Accounting
Unrestricted Funds" These funds are available for use at the discretion of the
trustees in furtheran￿ of the general objectives of Dan￿ Associate Ltd.
Unrestricted funds include a revaluation reserve representing the restatement
of investment assets at market values.
Designated Funds: These are unrestricted funds earmarked by the Board of
Trustees for specific purposes.
Restricted Funds: These funds are subject to restrictions on their expenditure
imposed by the donor or through the terms of an appeal.
(c) Incoming ReSoUr￿S
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All incoming reSoUr￿S are recognised in the Statement of Financial Activities (SOFA)
when Dance Associate Ltd has entitlement to the funds, it is probable that the income
will be received, and the amount can be reliably measured.
The following policies apply to specific categories of income:
Voluntary Income" Grants. donations. and gifts are recognised in full in the
SOFA when receivable. Where entitlement depends on the delivery of specific
performance obligations, income is recognised as the obligations are fulfilled.
Donated servI￿s and Facilities: Donated ServI￿S and facilities are included in
the accounts at their estimated value to the organisation, where this can be
measured reliably. Volunteer time is not included in the financial statements.
Investment Income: Recognised when re￿1Vable.
Charitable Trading Activity Income: Income from charitable trading activities is
recognised as it is earned.
Grants for Specific Deliverables" Recognised as the charity earns the right to
consideration by performing the related obligations.
(d) Resources Expended
Expenditure is accounted for on an accrual basis as a liability is incurred. It includes
VAT which cannot be recovered and is categorised as follows:
Costs of Generating Funds: These include costs incurred to attract voluntary
income and costs associated with fundraising activities.
Charitable Expenditure" These costs relate directly to the delivery of activities
and services for beneficiaries. They include both direct costs and indirect
support costs allocated to the activities.
Governan￿ Costs: These include costs associated with compliance with
constitutional and statutory requirements, including audit fees and strategic
management costs.
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All costs are allocated between the expenditure categories of the SOFA in a manner
that reflects the resource usage. Direct costs are attributed to specific activities, while
indirect costs are apportioned using appropriate bases such as floor area, headcount,
or estimated usage.
(e) Fixed Assets
Valuation and Depreciation" Fixed assets are stated at cost less accumulated
depreciation. Minor additions or assets costing below £1,000 are not
capitalised. Depreciation is provided on a straight-line basis over the estimated
useful life of the asset, typically four years.
Impairment Reviews: Fixed assets are reviewed for impairment when evidence
arises indicating that the recoverable amount is below the net book value.
Impairment losses are recognised in the SOFA.
Investments" Investments held as fixed assets are revalued at mid-market value
at the balan￿ sheet date. Gains or losses arising from revaluation are
recognised in the SOFA.
This comprehensive framework ensures that the financial statements accurately
reflect the activities, resources, and obligations of Dan￿ Associate Ltd, adhering to
best practices and regulatory standards.
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