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Registration number: 11836572

DBA School Of Dance Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 28 February 2023

 

DBA School Of Dance Ltd

Contents

Directors' Report

1

Statement of Income and Retained Earnings

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 6

 

DBA School Of Dance Ltd

Directors' Report for the Year Ended 28 February 2023

The directors present their report and the financial statements for the year ended 28 February 2023.

Directors of the company

The directors who held office during the year were as follows:

Mrs J Berrett

Mrs R F Ryan

Principal activity

The principal activity of the company is that of a dance school

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 28 November 2023 and signed on its behalf by:
 

.........................................
Mrs J Berrett
Director

 

DBA School Of Dance Ltd

Profit and Loss Account and Statement of Retained Earnings for the Year Ended 28 February 2023

Note

2023
£

2022
£

Turnover

 

38,329

18,216

Cost of sales

 

(7,490)

(8,248)

Gross profit

 

30,839

9,968

Administrative expenses

 

(23,872)

(11,138)

Other operating income

 

6,104

6,271

Operating profit

 

13,071

5,101

Profit before tax

13,071

5,101

Taxation

 

(1,815)

(397)

Profit for the financial year

 

11,256

4,704

Retained earnings brought forward

 

475

771

Dividends paid

 

(10,974)

(5,000)

Retained earnings carried forward

 

757

475

 

DBA School Of Dance Ltd

(Registration number: 11836572)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

           

Fixed assets

   

 

Tangible assets

4

 

5,345

 

2,820

Current assets

   

 

Debtors

-

 

179

 

Cash at bank and in hand

 

2,736

 

1,610

 

 

2,736

 

1,789

 

Creditors: Amounts falling due within one year

5

(7,224)

 

(4,034)

 

Net current liabilities

   

(4,488)

 

(2,245)

Net assets

   

857

 

575

Capital and reserves

   

 

Called up share capital

6

100

 

100

 

Profit and loss account

757

 

475

 

Shareholders' funds

   

857

 

575

For the financial year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 November 2023 and signed on its behalf by:
 

.........................................
Mrs J Berrett
Director

 

DBA School Of Dance Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
140 Cambridge Road
Churchtown
Southport
Merseyside
PR9 9RZ
United Kingdom

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The company's functional and presentational currency is GBP and no level of rounding has been used in presenting the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

DBA School Of Dance Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures & Fittings

15% Reducing Balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

DBA School Of Dance Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

4

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 March 2022

2,900

2,900

Additions

3,319

3,319

At 28 February 2023

6,219

6,219

Depreciation

At 1 March 2022

80

80

Charge for the year

794

794

At 28 February 2023

874

874

Carrying amount

At 28 February 2023

5,345

5,345

At 28 February 2022

2,820

2,820

5

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Amounts owed to related parties

4,355

2,104

Other creditors

 

2,869

1,930

 

7,224

4,034

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100