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Registered number: 06789454









GUILDHALL SCHOOL OF DANCING LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

 
GUILDHALL SCHOOL OF DANCING LIMITED
 

CONTENTS



Page
Accountants' Report
 
 
1
Balance Sheet
 
 
2 - 3
Notes to the Financial Statements
 
 
4 - 7


 
GUILDHALL SCHOOL OF DANCING LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF GUILDHALL SCHOOL OF DANCING LIMITED
FOR THE YEAR ENDED 31 JULY 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Guildhall School of Dancing Limited for the year ended 31 July 2023 which comprise  the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of Guildhall School of Dancing Limited, as a body, in accordance with the terms of our engagement letter dated 24 January 2020Our work has been undertaken solely to prepare for your approval the financial statements of Guildhall School of Dancing Limited and state those matters that we have agreed to state to the Board of Directors of Guildhall School of Dancing Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Guildhall School of Dancing Limited and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that Guildhall School of Dancing Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Guildhall School of Dancing Limited. You consider that Guildhall School of Dancing Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Guildhall School of Dancing Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



MA Partners LLP
 
7 The Close
Norwich
Norfolk
NR1 4DJ
29 March 2024
Page 1

 
GUILDHALL SCHOOL OF DANCING LIMITED
REGISTERED NUMBER: 06789454

BALANCE SHEET
AS AT 31 JULY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
711
837

  
711
837

Current assets
  

Debtors: amounts falling due within one year
 5 
4,671
4,668

Cash at bank and in hand
  
12,465
10,831

  
17,136
15,499

Creditors: amounts falling due within one year
 6 
(13,132)
(13,551)

Net current assets
  
 
 
4,004
 
 
1,948

Total assets less current liabilities
  
4,715
2,785

Provisions for liabilities
  

Deferred tax
  
(135)
(159)

  
 
 
(135)
 
 
(159)

Net assets
  
4,580
2,626


Capital and reserves
  

Called up share capital 
 7 
100
100

Profit and loss account
  
4,480
2,526

  
4,580
2,626


Page 2

 
GUILDHALL SCHOOL OF DANCING LIMITED
REGISTERED NUMBER: 06789454
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Mr J E R Waite
Director

Date: 29 March 2024

The notes on pages 4 to 7 form part of these financial statements.

Page 3

 
GUILDHALL SCHOOL OF DANCING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1.


General information

The company is a private company incorporated in the United Kingdom and limited by shares. It is registered in England and Wales. The address of its registered office is 7 The Close, Norwich, Norfolk, NR1 4DJ. The principle place of business is Norwich, Norfolk. 
The company's principal activity is that of running a dance school. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates and other sales taxes. The following criteria must also be met before turnover is recognised:
Rendering of services
Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
• the amount of turnover can be measured reliably;
• it is probable that the Company will receive the consideration due under the contract;
• the stage of completion of the contract at the end of the reporting period can be measured
  reliably; and
• the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Employee benefits

The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

Page 4

 
GUILDHALL SCHOOL OF DANCING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 
Deferred tax balances are recognised in respect of timing differences that have originated but not reversed by the balance sheet date.
Current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Office equipment
-
15% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Short term debtors and creditors

Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

 
2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

  
2.9

Financial Instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Debt instruments that are payable or receivable withing one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

Page 5

 
GUILDHALL SCHOOL OF DANCING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 3).


4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 August 2022
1,705



At 31 July 2023

1,705



Depreciation


At 1 August 2022
868


Charge for the year on owned assets
126



At 31 July 2023

994



Net book value



At 31 July 2023
711



At 31 July 2022
837


5.


Debtors

2023
2022
£
£


Trade debtors
980
984

Other debtors
1,903
1,903

Prepayments and accrued income
1,788
1,781

4,671
4,668


Page 6

 
GUILDHALL SCHOOL OF DANCING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
-
684

Other taxation and social security
2,030
464

Other creditors
9,092
10,669

Accruals and deferred income
2,010
1,734

13,132
13,551



7.


Share capital

2023
2022
£
£
Authorised, allotted, called up and fully paid



50 A Ordinary shares of £1.00 each
50
50
50 B Ordinary shares of £1.00 each
50
50

100

100



8.


Pension commitments

Contributions totalling £105 (2022: £88) were payable to the fund at the balance sheet date and are
included in other creditors.


9.


Related party transactions

As at 31 July 2023, the company owed the directors £8,987 (2022: £9,439) as included within other creditors in note 6 to the financial statements. This loan is interest free and is repayable on demand. 
 

 
Page 7