for the Period Ended 31 July 2024
Directors report | |
Profit and loss | |
Balance sheet | |
Additional notes | |
Balance sheet notes |
Directors' report period ended
The directors present their report with the financial statements of the company for the period ended 31 July 2024
Principal activities of the company
Political and charitable donations
Additional information
Post-balance sheet events and future prospects There are no post-balance sheet events that affect the year in question. Directors The directors who served throughout the year and up to the date of the report are shown on page 1. Directors’ indemnities The company has made qualifying third-party indemnity provisions for the benefit of its directors, which were made during the year and remain in force at the date of this report. Going concern and banking The company made a profit before tax and gift aid of £94,504 during the year (2023: £530,686), and has net current assets of £14,920 as at 31 July 2024 (2023: £11,775). The company meets its day-to-day working capital requirements through trading. The directors have made enquiries and have reasonable expectation that the company will continue to generate adequate resources from existing and new products to continue operational existence for the foreseeable future; being 12 months from the date of signing this report. The directors, therefore, continue to adopt the going concern basis in preparing the financial statements of the company. The company is expected to perform in line with budget in 2024/25. Additionally, the directors have received a confirmation of support from the Royal Academy of Dance to ensure the company can meet its liabilities as they fall due for a period of at least 12 months from signing these financial statements. As at 31 July 2024, Royal Academy of Dance Enterprises Ltd had not utilised any of the £300,000 overdraft facility available. The overdraft facility was renewed for a further year in December 2024. Following discussions with HSBC, the directors believe that this facility will be renewed for another year per the standard annual renewal process. DIRECTORS’ RESPONSIBILITIES STATEMENT The directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards Royal Academy of Dance Enterprises Limited Annual Report and Financial Statements for the year ended 31 July 2024 and applicable law) including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland”. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the company for that period. In preparing these accounts, the directors are required to: - select suitable accounting policies and then apply them consistently.; - make judgements and estimates that are reasonable and prudent; and - prepare the financial statements on the going concern basis, unless it is inappropriate to presume that the company will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Information to auditor Each of the persons who is a director at the date of approval of this report confirms that: - so far as the director is aware, there is no relevant audit information of which the company's auditor is unaware; and - each of the directors has taken all the steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information. This confirmation is given and should be interpreted in accordance with the provisions of s418 of the Companies Act 2016
Directors
The directors shown below have held office during the whole of the period from
1 August 2023
to
31 July 2024
Secretary
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
And signed on behalf of the board by:
Name:
Status: Director
for the Period Ended
2024 | 2023 | |
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Turnover: |
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Cost of sales: |
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Gross profit(or loss): |
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Distribution costs: |
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Administrative expenses: |
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Other operating income: |
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Operating profit(or loss): |
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Interest payable and similar charges: |
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Profit(or loss) before tax: |
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Tax: |
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Profit(or loss) for the financial year: |
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As at
Notes | 2024 | 2023 | |
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Fixed assets | |||
Intangible assets: |
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Tangible assets: | 3 |
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Total fixed assets: |
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Current assets | |||
Stocks: | 4 |
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Debtors: | 5 |
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Cash at bank and in hand: |
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Total current assets: |
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Creditors: amounts falling due within one year: | 6 |
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Net current assets (liabilities): |
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Total assets less current liabilities: |
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Total net assets (liabilities): |
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Capital and reserves | |||
Called up share capital: |
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Profit and loss account: |
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Total Shareholders' funds: |
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The notes form part of these financial statements
This report was approved by the board of directors on
and signed on behalf of the board by:
Name:
Status: Director
The notes form part of these financial statements
for the Period Ended 31 July 2024
Basis of measurement and preparation
Turnover policy
Tangible fixed assets depreciation policy
Other accounting policies
for the Period Ended 31 July 2024
2024 | 2023 | |
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Average number of employees during the period |
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for the Period Ended 31 July 2024
Land & buildings | Plant & machinery | Fixtures & fittings | Office equipment | Motor vehicles | Total | |
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Cost | £ | £ | £ | £ | £ | £ |
At 1 August 2023 |
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At 1 August 2023 |
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Charge for year |
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At 31 July 2024 |
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At 31 July 2024 |
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At 31 July 2023 |
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for the Period Ended 31 July 2024
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£ | £ | |
Stocks |
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Total |
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for the Period Ended 31 July 2024
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£ | £ | |
Trade debtors |
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Prepayments and accrued income |
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Other debtors |
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Total |
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for the Period Ended 31 July 2024
2024 | 2023 | |
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£ | £ | |
Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Total |
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