My DD is doing grade 1 in June, she is 7. She did her primary exam last summer.
Her school does three different sessions of exams a year, June, January and April I think, so all the girls seem to take their exams when they really are ready.
We are expected to pay for one extra class per week for the term leading up to the exam, at a cost of £4 per session, and the exam fee was on top of that (can't remember how much though).
They run a summer school also which DD will be going to, as she did last year, and this consists of a week or two of all day sessions in dance, drama and singing, with a show at the end where they perform about five or six numbers each. They also get professionals in to work with the children, which is nice. It is very intensive but very popular with the girls and we had tears at the end of last years summer school because it was over.
In addition to this there are two shows per year, one in September and a massive panto in January. The costume bills for these shows are astronomical, my DD was in seven numbers in the recent panto and her costume bill came to £250, not including shoes- three pairs of new ballet shoes, jazz sneakers, silver tap shoes, etc, plus tights etc).
The show rehearsals are separate and these are £4 a session regardless of length- sometimes 4-6 hours!). On top of this every family is expected to sell a certain number of tickets to the shows so there is extra pressure there.
It all sounds incredibly mercenary but I can't tell you how much DD loves dancing and gains so much confidence from it. She practises hard for her exams and in this way sees the benefits of working hard towards something (she got a high distinction in her Primary, mainly because she worked so hard).
Being on stage is also so much fun, she has to learn to pick up dances and songs very quickly and as she is dancing with girls of all different ages she looks up to the older girls and it is lovely to see them 'mothering' the younger girls. Dancing has done a great job of building up the confidence and self esteem of a little girl who was quite shy and under-confident.