VIVACE THEATRE SCHOOL CIC

Company limited by guarantee

Company Registration Number:
SC630829 (Scotland)

Unaudited statutory accounts for the year ended 31 August 2024

Period of accounts

Start date: 1 September 2023

End date: 31 August 2024

VIVACE THEATRE SCHOOL CIC

Contents of the Financial Statements

for the Period Ended 31 August 2024

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

VIVACE THEATRE SCHOOL CIC

Profit And Loss Account

for the Period Ended 31 August 2024

2024 2023


£

£
Turnover: 335,394 309,017
Cost of sales: ( 21,444 ) ( 19,785 )
Gross profit(or loss): 313,950 289,232
Administrative expenses: ( 305,477 ) ( 289,175 )
Operating profit(or loss): 8,473 57
Profit(or loss) before tax: 8,473 57
Profit(or loss) for the financial year: 8,473 57

VIVACE THEATRE SCHOOL CIC

Balance sheet

As at 31 August 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 949 1,899
Total fixed assets: 949 1,899
Current assets
Debtors: 4 1,600 1,600
Cash at bank and in hand: 352 324
Total current assets: 1,952 1,924
Creditors: amounts falling due within one year: 5 ( 13,954 ) ( 17,349 )
Net current assets (liabilities): (12,002) (15,425)
Total assets less current liabilities: (11,053) ( 13,526)
Creditors: amounts falling due after more than one year: 6 ( 4,500 ) ( 10,500 )
Total net assets (liabilities): (15,553) (24,026)
Members' funds
Profit and loss account: (15,553) ( 24,026)
Total members' funds: ( 15,553) (24,026)

The notes form part of these financial statements

VIVACE THEATRE SCHOOL CIC

Balance sheet statements

For the year ending 31 August 2024 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 29 August 2025
and signed on behalf of the board by:

Name: J E 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 2024

  • 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

VIVACE THEATRE SCHOOL CIC

Notes to the Financial Statements

for the Period Ended 31 August 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 3 3

VIVACE THEATRE SCHOOL CIC

Notes to the Financial Statements

for the Period Ended 31 August 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 September 2023 3,798 3,798
Additions
Disposals
Revaluations
Transfers
At 31 August 2024 3,798 3,798
Depreciation
At 1 September 2023 1,899 1,899
Charge for year 950 950
On disposals
Other adjustments
At 31 August 2024 2,849 2,849
Net book value
At 31 August 2024 949 949
At 31 August 2023 1,899 1,899

VIVACE THEATRE SCHOOL CIC

Notes to the Financial Statements

for the Period Ended 31 August 2024

4. Debtors

2024 2023
£ £
Other debtors 1,600 1,600
Total 1,600 1,600

VIVACE THEATRE SCHOOL CIC

Notes to the Financial Statements

for the Period Ended 31 August 2024

5. Creditors: amounts falling due within one year note

2024 2023
£ £
Bank loans and overdrafts 6,000 6,000
Taxation and social security 385 175
Accruals and deferred income 1,194 780
Other creditors 6,375 10,394
Total 13,954 17,349

VIVACE THEATRE SCHOOL CIC

Notes to the Financial Statements

for the Period Ended 31 August 2024

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

2024 2023
£ £
Bank loans and overdrafts 4,500 10,500
Total 4,500 10,500

COMMUNITY INTEREST ANNUAL REPORT

VIVACE THEATRE SCHOOL CIC

Company Number: SC630829 (Scotland)

Year Ending: 31 August 2024

Company activities and impact

The year 23/24 was a positive one at Vivace Theatre School. Our classes have stayed running at capacity with waiting lists operating for courses again. We were also awarded Theatre School of the year 2024 by the Prestige Awards for the third year running. 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 2023/24 Vivace Theatre School CIC continued to run a busy and vibrant programme of classes and events. Demand for places at the school remained high and demand for exams increased significantly. It was excellent to see the students confidence in their abilities grow and their commitment to gaining recognised qualifications. The cost of living crisis continued to stretch our overhead costs. We managed to avoid fee increases however this was the second year of holding tuition costs and as the end of the year approached we carried out some research into our pricing compared to our outgoings and the charges by similar organisations. The result was some selected increases to ensure that all classes were priced at a minimum of £5 per hour. The lease on the building was due to be renewed and there was some hesitation around this as Glasgow City Council were planning to bring in increased parking charges and extend hours for paid parking from 6pm to 10pm, which would have a significant impact on our groups. Looking for a new suitable space didn’t bring many options and we were relieved when the council announced it would not be reviewing the change to parking hours till 2027. We therefore signed a new lease up till this period. Our activity during the period was as follows: - Our timetable ran 6 days out of 7 and had 71 classes weekly. We covered Acting, Dance (various styles), Singing, Early Stages Performance and Musical Theatre. - Our students performed 10 different productions and 30 shows. These ranged from full scale musicals to one act plays, showcases and devised performances created by the students themselves. Feedback from our audiences was excellent and most dates were completely sold out. - We were very pleased to be invited to perform at the Theatre Royal for Go Dance, a celebration of dance across Scotland, the Paisley Sma Shot Festival and the Glasgow Christmas Carnival. - We maintained our 100% pass rate for Ballet exams through the BATD (British Association of Teachers of Dance) with all students receiving ‘commended’ or ‘highly commended’ grades and acting exams through LAMDA (London Academy of Music & Dramatic Art) where everyone passed with Merit or Distinction. We reintroduced singing exams through London College of Music after a hiatus caused by COVID and again all students passed with Merit or Distinction. - Attending theatre can be very expensive for families and one of our aims as an organisation is to help our students access professional theatre productions. We ran 3 discounted group trips, one to the Kings Theatre Pantomime and one to the Cinderella Ballet at Theatre Royal. Our bookings totalled 400 tickets. Attending the theatre is an enriching experience for all but it is especially important for young performers as a source of inspiration and motivation. - Our summer programme sold out quickly. Over 5 weeks we engaged with 500 students and put on 20 shows. Feedback was excellent and demand for places far outstripped supply. Many of the young performers who took part consequently signed up for term time classes. - In July we were named Theatre School of the Year by The Prestige Awards for the third year running and given a ‘Hall of Fame’ award. The ongoing demand demonstrated for our programmes, is evidence that there is a clear need for accessible Performing Arts education. Many similar organisations in Scotland are profit driven and fees for their services are significantly higher. We do not want money to become a barrier to participation and believe that talented young people come from every demographic. We are proud to offer high quality training that is having a positive impact at an affordable cost.

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 pupil-led 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. We have created Programme Coordinator roles for each course. These promoted members of teaching staff liaise directly with student and parents and develop the curriculum in line with their needs. Consultation takes many forms and includes but is not necessarily limited to: - In/after class discussions between tutor and student/s - Private Facebook groups for parents/students - Email consultations & feedback - Open door policy at Vivace Reception 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. Reviews online are a further source of feedback and opportunity to consider and alter our practises.

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
29 August 2025

And signed on behalf of the board by:
Name: J E Mclelland
Status: Director