VIVACE THEATRE SCHOOL CIC

Company limited by guarantee

Company Registration Number:
SC630829 (Scotland)

Unaudited statutory accounts for the year ended 31 August 2021

Period of accounts

Start date: 31 August 2020

End date: 31 August 2021

VIVACE THEATRE SCHOOL CIC

Contents of the Financial Statements

for the Period Ended 31 August 2021

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

VIVACE THEATRE SCHOOL CIC

Directors' report period ended 31 August 2021

The directors present their report with the financial statements of the company for the period ended 31 August 2021

Principal activities of the company

The principal activity of the community interest company was to operate a theatre school for 3 to 18 year olds to access training and education in the performing arts.



Directors

The directors shown below have held office during the whole of the period from
31 August 2020 to 31 August 2021

Joyce Elizabeth McLelland
Paul Brooks
Diane McKendrick
Elaine Janette Waddell


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
31 May 2022

And signed on behalf of the board by:
Name: Joyce Elizabeth McLelland
Status: Director

VIVACE THEATRE SCHOOL CIC

Profit And Loss Account

for the Period Ended 31 August 2021

2021 15 months to 30 August 2020


£

£
Turnover: 134,511 149,161
Cost of sales: ( 90,265 ) ( 85,262 )
Gross profit(or loss): 44,246 63,899
Administrative expenses: ( 84,112 ) ( 100,575 )
Other operating income: 36,719 17,950
Operating profit(or loss): (3,147) (18,726)
Interest receivable and similar income: 71
Profit(or loss) before tax: (3,147) (18,655)
Profit(or loss) for the financial year: (3,147) (18,655)

VIVACE THEATRE SCHOOL CIC

Balance sheet

As at 31 August 2021

Notes 2021 15 months to 30 August 2020


£

£
Current assets
Debtors: 3 2,020
Cash at bank and in hand: 2,591 11,877
Total current assets: 2,591 13,897
Creditors: amounts falling due within one year: 4 ( 14,350 ) ( 4,219 )
Net current assets (liabilities): (11,759) 9,678
Total assets less current liabilities: (11,759) 9,678
Creditors: amounts falling due after more than one year: 5 ( 9,701 ) ( 28,333 )
Total net assets (liabilities): (21,460) (18,655)
Members' funds
Profit and loss account: (21,460) ( 18,655)
Total members' funds: ( 21,460) (18,655)

The notes form part of these financial statements

VIVACE THEATRE SCHOOL CIC

Balance sheet statements

For the year ending 31 August 2021 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 31 May 2022
and signed on behalf of the board by:

Name: Joyce Elizabeth McLelland
Status: Director

The notes form part of these financial statements

VIVACE THEATRE SCHOOL CIC

Notes to the Financial Statements

for the Period Ended 31 August 2021

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Income and expenses are included in the financial statements as they become receivable or due.Expenses include VAT where applicable as the company cannot reclaim it.

    Other accounting policies

    Judgements and key sources of estimation uncertaintyIn the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

VIVACE THEATRE SCHOOL CIC

Notes to the Financial Statements

for the Period Ended 31 August 2021

  • 2. Employees

    2021 15 months to 30 August 2020
    Average number of employees during the period 3 3

VIVACE THEATRE SCHOOL CIC

Notes to the Financial Statements

for the Period Ended 31 August 2021

3. Debtors

2021 15 months to 30 August 2020
£ £
Other debtors 2,020
Total   2,020

VIVACE THEATRE SCHOOL CIC

Notes to the Financial Statements

for the Period Ended 31 August 2021

4. Creditors: amounts falling due within one year note

2021 15 months to 30 August 2020
£ £
Taxation and social security 6,947 1,052
Other creditors 7,403 3,167
Total 14,350 4,219

VIVACE THEATRE SCHOOL CIC

Notes to the Financial Statements

for the Period Ended 31 August 2021

5. Creditors: amounts falling due after more than one year note

2021 15 months to 30 August 2020
£ £
Other creditors 9,701 28,333
Total 9,701 28,333

VIVACE THEATRE SCHOOL CIC

Notes to the Financial Statements

for the Period Ended 31 August 2021

6. Loans to directors

Name of director receiving advance or credit: Paul Brooks
Description of the transaction:
There is a directors loan balance of £10,500 which is an advance and has been repaid since the year end.
£
Balance at 30 August 2020
Advances or credits made: 10,500
Advances or credits repaid:
Balance at 31 August 2021 10,500

COMMUNITY INTEREST ANNUAL REPORT

VIVACE THEATRE SCHOOL CIC

Company Number: SC630829 (Scotland)

Year Ending: 31 August 2021

Company activities and impact

The years 2020/21 was a difficult one at Vivace Theatre School CIC as we tried to continue trading despite the ongoing issues caused by COVID-19. Continual changes to government restrictions and surges in cases meant adapting plans to suit the climate.Vivace Theatre School is committed to helping young people realise their potential in the Performing Arts. We offer training in a safe and nurturing environment accessible to all and we offer affordable rates to enable participation from all members of the community.In the year 2020/21 trading was heavily impacted by the COVID 19 pandemic and government restrictions. Young people were particularly affected by the disruption. With schools closed, all of their social activities inaccessible and owing to the vast change coupled with the uncertainty, there was a widely reported negative impact on young peoples confidence & motivation at this time. Our aim throughout was to provide as much support as possible. We knew that even when we were not permitted to hold face to face classes, we could still be an important source of inspiration & creativity at a crucial time. Our activity during the period was as follows:The year started promisingly as we were permitted to reopen from mid sept 2020. Worries about how many children would return and how safe families would feel sending their children with COVID rates still high were unfounded and we realised just how desperate our students had been to get back to rehearsals. Despite being closed for 6 full months and not having our usual summer programme, which is always a big boost to enrolment, we reopened 43 of our 45 weekly classes. The 2 that remained closed were singing and a linked guitar class and this was because singing indoors was still not permitted. Unfortunately a surge in cases prompted the gov to introduce the Tier System so we had to take our classes online in October. After only 6 weeks in the studio it was a bit of a blow but our staff really embraced the opportunity to develop new creative ways to work with their students from our ‘virtual studio’. In January the country went into lockdown again but with our online format now running smoothly, we were able to provide consistency, routine and a social and creative outlet for our students. This was really appreciated by our families and participation in online classes during this period was high. Face to face teaching was allowed again in April and we were able to reopen our Sauchiehall st studio for the last 7 weeks of term. We also put our summer programme on sale and sold 6 weeks worth of courses. As summer approached COVID cases were beginning to spiral again. We attempted to run our sell out summer programme but unfortunately they were plagued with covid related issues and after an outbreak in week 1 & 2 we took the decision to cancel the 4 remaining weeks to keep our staff and students safe. Despite all of the challenges of the year we continually adapted, generating regular ongoing work during a very lean time for 12 Freelance Artists at Equity rates of pay.As an organisation we thought the year 2020/21 was going to be our year to rebuild after COVID, but it was exactly the opposite. We are extremely proud of our teams endurance and the opportunities and support they extended to our students and families. The demand demonstrated for our programmes, despite the fact that we were unable to produce shows of offer exams, is evidence that there is still a clear need for accessible Performing Arts education, even during very challenging times. The Arts offer so many social and emotional benefits and the feedback we have received from participants and parents has affirmed our belief that the Performing Arts are central to wellbeing.

Consultation with stakeholders

Our stakeholders are first and foremost our students and their families, with others being the production companies and partnership organisations we work with and staff.Stakeholder engagement is woven into the fabric of Vivace. Our educational model is pupilled and ensuring we meet the needs of our students is critical. Regular consultation within classes, with staff members and with parents allows us to create a model for learning that takes into account everyones viewpoint.Consultation takes many forms and includes but is not necessarily limited to:In/after class discussions between tutor and student/sIn Private Facebook groups for parents/studentsIn Email consultations & feedbackOpen door policy at Vivace Reception/virtual studio via Zoom, allowing people to have face to face dialogue with staff.When working with partners there is often an evaluation of work undertaken. This evaluative data allows us to modify and plan for future projects.

Directors' remuneration

No remuneration was received

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
2 April 2022

And signed on behalf of the board by:
Name: Joyce Elizabeth McLelland
Status: Director