IRIS Accounts Productionv24.2.0.38300514396Board of Directors1.4.2331.3.2431.3.247.10.24falsetruefalsefalsetruefalseAuditors Opinion iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh005143962023-03-31005143962024-03-31005143962023-04-012024-03-31005143962022-03-31005143962022-04-012023-03-31005143962023-03-3100514396ns15:EnglandWales2023-04-012024-03-3100514396ns14:PoundSterling2023-04-012024-03-3100514396ns10:Director12023-04-012024-03-3100514396ns10:CompanyLimitedByGuarantee2023-04-012024-03-3100514396ns10:SmallEntities2023-04-012024-03-3100514396ns10:Audited2023-04-012024-03-3100514396ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3100514396ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3100514396ns10:FullAccounts2023-04-012024-03-3100514396ns10:Director22023-04-012024-03-3100514396ns10:Director32023-04-012024-03-3100514396ns10:Director42023-04-012024-03-3100514396ns10:Director52023-04-012024-03-3100514396ns10:Director62023-04-012024-03-3100514396ns10:Director72023-04-012024-03-3100514396ns10:Director82023-04-012024-03-3100514396ns10:Director92023-04-012024-03-3100514396ns10:Director102023-04-012024-03-3100514396ns10:Director112023-04-012024-03-3100514396ns10:Director122023-04-012024-03-3100514396ns10:Director132023-04-012024-03-3100514396ns10:Director142023-04-012024-03-3100514396ns10:CompanySecretary12023-04-012024-03-3100514396ns10:RegisteredOffice2023-04-012024-03-3100514396ns5:CurrentFinancialInstruments2024-03-3100514396ns5:CurrentFinancialInstruments2023-03-3100514396ns5:FurtherSpecificReserve2ComponentTotalEquity2024-03-3100514396ns5:FurtherSpecificReserve2ComponentTotalEquity2023-03-3100514396ns5:RetainedEarningsAccumulatedLosses2024-03-3100514396ns5:RetainedEarningsAccumulatedLosses2023-03-3100514396ns5:LeaseholdImprovements2023-04-012024-03-3100514396ns5:FurnitureFittings2023-04-012024-03-3100514396ns5:PlantMachinery2023-03-3100514396ns5:PlantMachinery2023-04-012024-03-3100514396ns5:PlantMachinery2024-03-3100514396ns5:PlantMachinery2023-03-3100514396ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3100514396ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3100514396ns5:WithinOneYear2024-03-3100514396ns5:WithinOneYear2023-03-3100514396ns5:BetweenOneFiveYears2024-03-3100514396ns5:BetweenOneFiveYears2023-03-3100514396ns5:AllPeriods2024-03-3100514396ns5:AllPeriods2023-03-3100514396ns5:DeferredTaxation2023-03-3100514396ns5:DeferredTaxation2023-04-012024-03-3100514396ns5:DeferredTaxation2024-03-3100514396ns5:RetainedEarningsAccumulatedLosses2023-03-3100514396ns5:FurtherSpecificReserve2ComponentTotalEquity2023-03-3100514396ns5:RetainedEarningsAccumulatedLosses2023-04-012024-03-3100514396ns5:FurtherSpecificReserve2ComponentTotalEquity2023-04-012024-03-31

REGISTERED NUMBER: 00514396 (England and Wales)
















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR


NATIONAL ASSOCIATION OF TEACHERS OF

DANCING LIMITED(THE)



NATIONAL ASSOCIATION OF TEACHERS OF

DANCING LIMITED(THE) (REGISTERED NUMBER: 00514396)


CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024











Page



Company Information  

1



Balance Sheet  

2



Notes to the Financial Statements  

3




NATIONAL ASSOCIATION OF TEACHERS OF

DANCING LIMITED(THE)


COMPANY INFORMATION

FOR THE YEAR ENDED 31 MARCH 2024









DIRECTORS:

F Dawson


M Waite


K R Page


A Pearson


K M Webster


R A Meech


A Brunton


Y M Mollon


H E Endacott


W E Bates


G Hinchliffe


S L Waite-Roberts


S M Johnson


J R Dieguez





SECRETARY:

T O J Shepherd





REGISTERED OFFICE:

National House


Turnfields Court


Turnfields


Thatcham


Berkshire


RG19 4PT





REGISTERED NUMBER:

00514396 (England and Wales)





SENIOR STATUTORY AUDITOR:

Dawn O'Leary CA





AUDITORS:

Davis Burton Sellek


Chartered Accountants


Statutory Auditors


The Galleries


Charters Road


Sunningdale


Berkshire


SL5 9QJ


NATIONAL ASSOCIATION OF TEACHERS OF

DANCING LIMITED(THE) (REGISTERED NUMBER: 00514396)


BALANCE SHEET

31 MARCH 2024



2024

2023



Notes

£   

£   

£   

£   


FIXED ASSETS

Tangible assets

4

19,903


25,513




CURRENT ASSETS

Stocks

5

2,014


2,792



Debtors

6

78,886


54,608



Investments

7

859,019


814,592



Cash at bank and in hand

476,780


438,935



1,416,699


1,310,927



CREDITORS

Amounts falling due within one year

8

75,382


65,713



NET CURRENT ASSETS

1,341,317


1,245,214



TOTAL ASSETS LESS CURRENT

LIABILITIES

1,361,220


1,270,727




PROVISIONS FOR LIABILITIES

10

51,545


43,686



NET ASSETS

1,309,675


1,227,041




RESERVES

Benevolent Fund

11

9,780


9,713



Retained earnings

11

1,299,895


1,217,328



MEMBERS' FUNDS

1,309,675


1,227,041




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


In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.


The financial statements were approved by the Board of Directors and authorised for issue on 7 October 2024 and were signed on its behalf by:






K R Page - Director



NATIONAL ASSOCIATION OF TEACHERS OF

DANCING LIMITED(THE) (REGISTERED NUMBER: 00514396)


NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024



1.

STATUTORY INFORMATION



The National Association of Teachers of Dancing Limited is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.


2.

ACCOUNTING POLICIES



Basis of preparing the financial statements


These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.    



Significant judgements and estimates

In 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 revision and future periods where the revision affects both current and future periods.


Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue operations for the foreseeable future. Through the NATD Business Plan the directors have prepared budgets and projections demonstrating the company's ability to continue as a going concern for a period of at least twelve months. Whilst the directors recognise that there are still challenges and uncertainties facing the company and the industry, they remain confident moving forward. The directors will therefore continue to adopt the going concern basis of accounting in preparing the financial statements.


Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is measured at the fair value of the consideration for ballroom and theatrical examination fees and services invoiced and supplied by the Association in the year and then also subscriptions in the year as described within the deferred income accounting policy. The Association is not registered for VAT.


Tangible fixed assets


Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.  


Improvements to property

-

10% on cost


Fixtures and fittings

-

20% on reducing balance



Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


NATIONAL ASSOCIATION OF TEACHERS OF

DANCING LIMITED(THE) (REGISTERED NUMBER: 00514396)


NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2024



2.

ACCOUNTING POLICIES - continued



Financial instruments

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest rate method.


Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.


NATIONAL ASSOCIATION OF TEACHERS OF

DANCING LIMITED(THE) (REGISTERED NUMBER: 00514396)


NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2024



2.

ACCOUNTING POLICIES - continued



Deferred income

The Association's subscription year runs to the close of March alongside the financial year and any of the subscriptions received ahead of the year end that relate to a future subscription period are carried forward within deferred income in line with the adopted accounting policy of the Association.


Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.


Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.

EMPLOYEES AND DIRECTORS



The average number of employees during the year was 9 (2023 - 10 ) .


4.

TANGIBLE FIXED ASSETS


Plant and


machinery


etc

£   



COST


At 1 April 2023


and 31 March 2024

79,447




DEPRECIATION


At 1 April 2023

53,934




Charge for year

5,610




At 31 March 2024

59,544




NET BOOK VALUE


At 31 March 2024

19,903




At 31 March 2023

25,513




5.

STOCKS

2024

2023


£   

£   



Stock - Medals and Merchandise etc.

2,014


2,792



2,014


2,792




NATIONAL ASSOCIATION OF TEACHERS OF

DANCING LIMITED(THE) (REGISTERED NUMBER: 00514396)


NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2024



6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR


2024

2023


£   

£   



Trade debtors

72,636


40,109




Other debtors

6,250


14,499



78,886


54,608




7.

CURRENT ASSET INVESTMENTS

2024

2023


£   

£   



Investments

859,019


814,592





The cost of the investments at 31 March 2024 was £600,000 (2023 - £600,000).


8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR


2024

2023


£   

£   



Taxation and social security

5,832


10,294




Other creditors

69,550


55,419



75,382


65,713




9.

LEASING AGREEMENTS



Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023


£   

£   



Within one year

25,000


25,000




Between one and five years

75,000


100,000



100,000


125,000




10.

PROVISIONS FOR LIABILITIES

2024

2023


£   

£   



Deferred taxation

51,545


43,686





Deferred



tax


£   



Balance at 1 April 2023

43,686




Provided during year

7,859




Balance at 31 March 2024

51,545




NATIONAL ASSOCIATION OF TEACHERS OF

DANCING LIMITED(THE) (REGISTERED NUMBER: 00514396)


NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2024



11.

RESERVES


Retained


Benevolent



earnings


Fund


Totals

£   

£   

£   




At 1 April 2023

1,217,328


9,713


1,227,041




Profit for the year

82,567


82,567




Interest Received

-


67


67




At 31 March 2024

1,299,895


9,780


1,309,675




12.

DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006



The Report of the Auditors was unqualified.



Dawn O'Leary CA (Senior Statutory Auditor)


for and on behalf of Davis Burton Sellek


13.

RELATED PARTY DISCLOSURES



Included under the headings of examination fees and examination expenses of £87,122 (2023 : £76,535) and £35,883 (2023 : £29,679) respectively are fees of £19,783 (2023 : £10,867) and expenses of £7,499 (2023 : £4,319) paid to Directors of the Association who are in turn members of the Council of Management in performance of their services as Examiners.