NatIOr￿ Centre for Clrcus Arts
Trustees Report & Flnanclal Statements
For the year ended 31•t July 2021
National Centre for Circus Arts
Trustees, report and flnanclal statements
for the year ended 31 st July 2021
Company number.. 2S53293 IEngland & Wales)
CharSty Number- l 001839

Natlonal Centre for ar￿$ Arts
Trustee5 Report & Flnanclal Statements
For the year ended 31 * July 2021
CONTEKfs
Legal and administrative Information
Trustees, annual report
Chair's welcome..............-....-......-.-.....
Objectives of the charity.
Publlc benefit statement.
Achievements and performance..........-....
Finahclal review
Subsidiary Companie5'. Review of Activities .
Prlnclpal risks and uncertainties..............-...
.20
Governance & internal control......
.23
Statement of the responsibilities of the trustees .
.25
Independent auditor's report..
.28
Statement of financial activities
31
Balance sheet
.32
Statement of cash tIow5
.34
Notes to the financial statements
.35
Page 2

Natlonal Centre for Clrcus Art5
Trustees Report & Financial Statement5
For the year ended 3 Isl July 2021
LEGALAND ADMINISTrAmVE INFORMATION
Company Number
Charlty number
Rtoistered ¢)fflce &
operatloMI addre5S:
2 553293 Ireglstered In Enoland & Wale51
1006927
Coronet Street
London Nl 6HD
loard Members
Cralg Cafvert. Deputy Chair la¢tlng thalr until end of term 09102120211
Alison King. Chair (joined the board 2011012020, chair from 09102120211
Tulkku Alavlltala (until 0 510812021
Cameron Brookhouse Ilrom 20110120201
Kate Cavelle
Davld Chlnn
Jane Crowther luntll 20110120201
Sue James
Ellzabeth (Betsyl Lynch
Blll Morrls
Tarun Nagpal
Thomas Nowacki
Darshak Shah
Paul Steggall
Lesley Strachan
Wllllam Underhlll
Roberi West
Rachael Wllllams (from 2011012020)
Company Serretary
Froniga Lambert
Senlor Management Team
Kate Whtte Chief Executive
Dan CowdTiII - Commercial Dlrector (from 05107120211
Froniga Lambert - Chief Operatlng Offlcer
Adrian Porter - Director of Hlghei Educailon luntll 1611112020
Glen Siewarl - Dlrector of Training (until 16111120201
Dlrector of Professional Development (from 1611112020
Key Buslness Ad￿$¢1$ Contacts
The Consetvatolre for Dance and Drama, Wework. 14-16 Creat Chapel Street, London.
WIF 8FL
Slaughter and May. One Bunhlll Row, London ECI Y 8YY
Page 3

National Centre for Clrcus Arts
Trustees Report & Flnancial Statements
For the year ended 31 A July 2021
Moore Klngston Smith LLP, Devonshlre House, 60 Goswell Road, ECI M 7AD
c0-0￿rative Bank, 80 Cornhlll, London, ECI V 3NJ
LexLeyton, Harmsworth House, 13-15 Bouverie Street, London EC4Y 8DP
The Trustees, who are a150 the directors of the company for the purposes of the Companles
Act, submlt thelr annual rewrt and audlted flnanclal statements for the year ended 31 July
2021 which have been prepared in compllance wlth current Statutory requirements, The
Chayltles SORP IFRS 1021 and with the charity's governing document, Its Artkles of
Association.
Welcorne from the Chair
I lolned the National Centre for Circus Arts as Chair Elect In October of 2020 and took over
the role of Chalr In January 2021. It has certalnly been an interesilng tlme to take on this role
In thls organisation.
The Natlonal Centre returned io actlvity in the autumn of 2020 having spent the prevlous
weeks durlng the summer preparlng the buildlng to offer a COVID-safe training and working
space. Staff and students alike came back to CoFonet Street wirh varylng levels of
apprehension and delight as the organi5ation followed the rest of the country in a tertiarive
return to normallty. Sadly, Ihls wa5ri't to last for long as we once again went into lockdown
and were unablè io reopen after our Chrbstmas break, so 2021 starled wlth 5tudenis once
agaln learning remotely untll March. The organ15ation was of course better prepared ihis time
although Lhe challenges of deliverlng clrcus arts remaln huge and need the creativity and
adaptability of the amazing Staff team to be at full stretch. As before. students proved
themselves to be dlligent and commltted, enablin9 theln all to succeed and to graduate.. the
graduatlon ceremony was able to happen in 'real Ilfe, and last years, cohort. who had thelr
ceremony online. were invited to Joln the celebrations.
The London Youih Clrcus and Centre of Advanced Training 5tudent5 also had a year of remote
and in persoll tralnlng planned and delivered by the incredlble partlclpatlon team to ensure
thgse young people did not only continue to look after thelr physical health, but also fÈlt the
communlty and mental health beneflts that we know come from their engagemeni wlth circus.
Thè huge professional membershlp of the Natlonal Centre was supported wlth free access to
training as soon as the Space could open. and Temote opportunities to network were
schedulad while artlst5 were unable to work. Freelancer5 vrfere able to benefit from our
successful application5 for Culwral Recovery Funding as the Natlonal Centre paid for some
Page 4

Natlonal Cenlre for Circus Art5
Trustees Report & Flnanclal Statements
For the year ended 31 # July 2021
artlsts to partl¢lpate In the Circus Change Up working groups. as well as creatlng a hugely
popular week-long International mastercla55 festival in July 2021.
The dedlcatlon of the sraff team, allowing the bulldlng to operate Safe￿ and keeping
processes and managemeni on track throughout, cannot be overestimated. From the site
belng managed to reduce footfall and crossover of groups as well as efflclent remote access
for all staff has meant that our community has stayed impressivety well, safe, COVID free and
operational throughout. I personally want lo ihank all the staff for ihelr reslllence. hard work
and dedicatlon to the Natlonal Centre durlng these Unpre￿dented challenglng tlmes.
Income from all regular sources has been declmated and the yearwould have beèn impossible
to suNlve without the Cultural Recovery Funds made avallable from ihe government. Our
thank5 go especially ro Arts Councll England for thelr unsweryln9 commitment to us and the
performing arts 5ectOT generally. We continued to furlough staff at various times but now In
early Autumn of 2021, all staff are back at work and we have clear plans to 5tablllse and
rebulld over the comlng months and years.
The board of trustees has been hugely SUPPDrtive and responsive to organlsallonal needs
during thls dlfflcult ilme. helplng the senlor team to respond to stakeholder demands and to
plan when often it feels as though we are Constant￿ flreflghtlng. I would like to thank them
for their ongoing commltment and expertlse as well a5 their warm welcome as a new Chalr.
As we move fonvard we are plannlng for a Gala eveni In February 2022 where we hope to
wel¢ome back friemls and supporters old and new to celebrate and create opp)rtunities for
young art15ts who have struggled so much during the pandemic. The 5enlor team continues
to work tlrelessly towards a new Independent future In Hlyher Educatlon wlth an application
currently In place with the Office for Students., and the whole team 15 working now towards
the next five years, creating exciting plans to drlve toward5 our vlslon of Grear Clrcus
Everywhere. With creativlty, dedication and resilience I have no doubt we will be part of the
rec¢)very that the country needs, rebullding health, wellbeing. confidence and creatlvlty In
clrcus, rhe arts and culture.
Allson Kln9
Chalr of the Bo•rd
lfj November 2021
Pa8e 5

Natlonal Centre for Clrcus Arts
Trustees Report & Financlal Statsments
For the year ended 3 1st July 2021
ObJectlve$ of the charity
The charlty Is a company limited by guarantee governed ￿ articles of as50¢1ailon and was
established on 30 October 1990. In October 2013 revised Artl¢les of Ass(xlatlon were
approved by rhe Charlty Commission and the Board of Tru5tee5.
The National Centre for Clrcus Arts, oblectlve, a5 Set out in the Artlcles of As50clatlon, Is to
advance the education of the public in the Arts and to a(fvance the Arts in each case wih
particular but not excluslve reference to the Circu5 Arts.
Thls Is summarlsed In ihe organlsation's vlslon statement that allow5 the National Centre for
Circus Arts to look Into the future for the organlsaifion and the sector..
'Great Clrcus Everywhere.
We support clrcus a5 i( matures and 15 ever more widely recognlsed as a dynamic, relevant
and Important part of the arts and cultural Ilfe of ihe UK. We dellver excellent clrcus arts
tralnlng to support the devek)pment of the next generatlon of world-class circus artlst5. We
support and collaborate wlth clrcus artlsts and companies throughout their careeTS to embÈd
professional standards In tèachlng. facilities and the creation and presentatlon of circus to
reach new audlences and participant5 wlth relevant. challenging and engaglng work. We
contlnue to glow rhe Natlonal Centre's reach and relevance through the development of
revenue-generatlng activitie5 that can support our core educatlon and artlsts. suppori actlvlty.
This enables us to build on our role a5 sertor leader and contlnue to Push the boundarles of
the Clrcus Arts, whlle malntalnlng core 'bu5ine55 as usual, actlvities at our home In Hoxton.
We are:
Ambltlous and wllllng to take rlsks
We are ambltlous for ourSe￿e5 and our art form even in challenglng rimes. Wlth hlgh
professional 5kndards and an expert communlty, we are adept at mltlgating rlsk and
safeguarding partlclpants while allowing them to challenge themselves and explore the
myriad physical and creative posslbllities of clrcus. This, along wlth robust refle£Llon and
evaluation and a constant push to 'be better,, allows us to provide a saf¢ Space for artlsts,
students and partlclpant5 of all ages and stages In their own circus journeys, to take bigger
physlcal and creative risk5. COVID-19 presented new kind5 of r15k for clrcus arts tralnlng. We
have employed a range of measuies to make the building and training proce$5es COVID-
secure ro allow artSsts and studènts to contlnue theiT crealive lives as fully as p)ssible within
the Ilmliations required by government adwce and guidance. Our pdorlty Is keeplng our
community safe and well.
Page 6

Natlonal Centre for Clrcus Art5
Trustees Report & Flnanclal Statements
For the yw ended 31M July 2021
Incluslve and acc•sslbl¢
We are not fearful of the 14nkt)own and have a solld track record of Innovatlon. The anarchlc
na￿re of circu5 means It appeals lo a broad range of people and we are commilted to ensuring
we meet the needs of our sector by belng Incluslve. open and acces51ble to everyone. We work
hard to make sure all our staff, student5, partners and stakeholders feel comfortable and able
io work and create in the very best way posslble. We make sure there are space5 available for
dls¢usslon and debate around Issues of current concem, nor least how we can support the
management of mental healih wlthln our community. Where we lack speciallst expert15e we
engage with others to help us to ask the rlght questions. We continually seek to take actlon
to dlsrupt and change $0 we can achieve our oblectfve of belng a truly dlverse and open
organisatlon.
Envlronmentsiiy aware and sustalnable
From our Impact on individual participants and our own communlty of artlsts to our wider
responslblllty that comes from our leadership role In the sector, we are commltted for the
ng term and strive to ensure our organlsation is resilient and 5uslainable. We operate a
mlxed economy model and demonstrate a tru￿ entrepreneurlal splrit to ensure our buslne$5
can SU￿1Ve and thrlve In our ever-changlng world. In our home building in Hoxton we have
adopted an environmental plan to ensure we use our building efficiently, monltorlng our
energy usage, maklng use of schemes that are avallable to us to support our ambltlons around
the reduction of our carbon footprint year on yeai.
Page 7

Natlonal Centre for Clrcus Arts
Trustee$ Report & Financlal Statements
For the year ended 31M July 2021
Publlc beneflt statement
The Natlonal Centre for Clrcus Arts has been providlng public beneflt by enabllng the creation
of excellent and Innovative circus for almost thlrty years. Every year we Involve thousands of
people In the physkal challenges and artlstlc pleasures of Clrtus Arts. In shaping our
objectI￿S for the year and plannlng i)ur actlvltles, the trustees have considered the Charitv
Commisslon guldance on public beneflt, Includlng the guidance 'Publlc benefit: running a
charity IPB2I'.
Our dlverse range of work Includes our BA degree-level educatlon In Clrcus Arts Ithe UK'S
first), which Is supported by a structured training programme for under-18s and professlonal
development opportunltles for a5plring and establlshed performer5. Adult5 and young people
can enpy recreational classes and pèople of all ages can attend performances. We a150 run
highty regarded workshop5, away days and ieam building èvents for the corporate communlty.
cfver the last decade we have been developlng our crealion and productlon capabilities and
have been working In partnershlp to make work that can tour reglonalty, natlonally and
Internatlonalfy. Our emphasis Is always on collaborative and partnership working.
We are engaged In a¢tlvlty that slgnlflcantly contributes to the cultural life of thè UK by..
producing exceptlonal artlsis who shape the future of the Clrcus Arts,.
developlng potential and crèatlvlty through world-class vocatlonal tralnlng.,
flnding and nurturing young artists..
supporting the cultural Infrastructure.,
fuelling dèvelopment In the creatwe industrles., and
provldlng natlonal and international leadershlp in Circus Arts.
The Natlonal Centre for Circus Arts takes its responsibility to provlde public benefit very
serlousty and we welcome the scwtlny that statutory fundlng relatlonshSps expect. Thi5 has
encouraged u5 to raise standards and to continue to challenge ourselves. It ensures we gather
evidence to back up our claims to excellence, We continue to report against variou5 criterla
to our major statutory stakeholders, Arts Council England and the Offlce for Students via our
membershlp of the Con5ervatolre for Dance and Drama, and consistently exceed our agreed
iargets.
Page 8

National Centre ft>r Clrcus Arts
Trustees Report & Flnanclal Staternent5
For the year ended 31•t Juty 20ZI
Achlevement5 and performance
Organ15atlonal development
Our flnanclal and academlc year 2020121 followed our closure for the flrst lockd¢)wn of (he
pandtmlc In lare March 2020. That period put many actlvltles on hold and led u5 to pivot lo
online dellvery of the Higher Education programme and some actlvlty for young people. The
implementatlon of our long-planned struciural organ15ational change was put on ice as we
concentrated on suNival and managing our Immèdlate challenges. Following the return to our
bulldlng we have revlslied our plans to challenoe our prevlous assumptlons and to look at our
future through the lens of a next stage COVID world. We knew we still needed to change but
wanted to ensure we were making the rlght change5 to respond to a whole new and
unforoseen set Qf ¢hallenges. Taking account of the resillence revlew undertaken by McKlnsey
and Company and further advice from a specialist arts and culture consultancy we have
decided to adopt a new structure wlth three dlstlnci directoraiés. By ihe end of the 20121 year
we had In place..
The Professbonal Development Oirectorate looklng after the hollstic circus journey
through our organisation. Whether a three-year-old on our family circus programme,
a student taking thelr BA IHonsl In clrcus, a professlonal clrcus artist developlng their
own work or a teacher. the Professlonal Development Directorate supports and grows
all areas relatlng to learning, leaching and trainlng.
The Commerclal Dlreciorate enoaged In developing all our possible Income and
revenue generating activity. From rècreational courses and classes, corporate
workshops, uslng our Incredlble building as an events space ro marketlng and
traditional fundralslng, thls team works tirelessly to earn vital income to support our
educational and charltable obJectlve5.
The Operations Dlre£torate. under the guldan¢e of our Chief Operatlng Offlcer,
ensurlng the smooth running and safety of our bulldlng, our IT systems, human
resources, technlcal and bulldSng seNlces, securlty and finance.
The remainlng roles In the new structure are just belng flnallsed as we enter the 21122
academic year with new enthuslasm and focus.
Key focus for 2021122
Our focus remains on creatbng resilience throughout our business. embeddlng our new
organlsaiional structure, achieving our own registrailon as a Hlgher Education Provider
and maklng sure we can demonstrate our value to contlnue to be part of the Arts Council
of England's Natlonal Portfolio. We will contlnue to sèek out new commercial
Page 9

Natlonal Centre for Clrcus Artx
Trustees Report & Flnanclal Staternents
For the year Ènded 31 st July 2021
opportunities. includlng dlgltal developments, whlch will allow us to continue to support
our core activity and charitable delivery of circus arts iraining.
We will embed our new structure to ensure efflclent and cost-effective
development, delivery and management for all actlvlty.
We wlll further develop our governance and management to ensure we are
adoptlng best practlce to enable recNltment, retentlon and èngagement of
trustees and staff to flourlsh by engaging in worklng practbces thai reflect our
commltment to equlty, dlverslty and inclusion.
Hlgher educatlon achI￿rnents and Ch￿lenge$
Our Higher Educailon programme started the year worklng in the bubldlng and havlng to
embrace new ways to do just about every actlvity. Teaching was délfvered in a socially
dlstanced way, wlth both students and teachers masked and a¢¢ess to equlpment restrlcted
by the need for enhanced clèanlng protocols. Academlc modules remained onllne to create as
Ilitle footfall In the buildino as posslble and students were taught in small 'bubbles' with no
mixing to try and ensure we remalned both safe and operatlonal. Almost miraculously. we
had no COVID case5 in our student cohort ￿NtIl the school year had ended in Juty 2021. Our
core Hlgher Educatlon team W0￿ed tireles51y to support our students through such a
challenging time. The pastoral care and support for student mental health has never been
higher on the agenda, and additional resources have been made avallable to ensure we could
care for all our studenls through a yeai of real hlghs and l¢)w5.
The early 2021 lockdown meant that once again we plvoted to onllne creatlon for three
student productlons. Foundation degree year one students presented Still Liffe which has
Current￿ been seen by 2,100 people online. Inspired by art15t Edward Hopper and filmmaker
Roy Anderson. our students were ￿sked with looking from outslde in at allenatlon and
5011tude. Upwards has been vlewed 1,100 times, where Foundatlon degiee year 5tudtnis
txplored the mundanity of lockdown life and finding the jgy In small thlngs. The BA group
created a piece called 8reakout Room whert wt Saw the heritage and culture of our srudents,
grandparent5 used as Inspirailon and woven together through music, song, language and
movement. As always. our srudents surpr15ed u5 wlth thelr creatlvlty and amazing range of
talents, with one providlng the animation featured In Breakout Roomwhich has been seen. so
far. by around 1.600 people. In the summer term we were able to present one student
productlon Ilve. to a s¢xially distanced aUdIe￿e, at oui home Imllding in Hoxton. BA (Hon51
Devised Plece$. titled Com-pa550, welcomed an extremely enthusiastic audlence of over 280
over the three nights of performances.
Page 10

NatSonal Centre for Clrcus Arts
Trustees Report & Flnancial Statements
For the year ended 31 ￿ July 2021
We completed the year wlth all of our students stlll reg15tered, none had left during the year
or had chosen to Intermit their studies. in marked conirast to experience elsewhere in hlgher
education during 2020121 due to COVID dlsruptlon. 13 students graduated from the BA
programme. 3 wlth flrst class honours and 10 uppei second class degrees awarded and
validated by the Unlverslty of Kent. 20 students were awarded a Foundation degree after two
years of siudy and 15 have progressed onto the BA course commencing in September 2021.
Wlth ihe world of performing arts still very much in the early stages Of recovery our graduates
once again this year take something of a leap Into the unkn¢)wn as they begin ihelr
professional lives. We provide access to Information about opportunitie5 for any work or
fundbng and have for the second year extended the time that graduates will be able to acce5S
free training Space at tho Natlonal Centre to a full year, to support their transltlon Into work.
The Head of Degree Dellvery conrinues to be Invofved in the running of FEDEC as a board
member and has taken on lead roles In tsvo néw comrniltee5 formed in 2020121, Human
Resources and Unconsclous Bias. The Cosm1£ project 15 now Unde￿aY and NCC4 has a lead
role In how digital technologies ale belng ImplÈmented. We still await the outcome of funding
for the prolect 'RIGGERS' that looks at poollng together all knowledge around rlgging for
clicus, an area that has been under-supported rlll this tlme. The Auch Circus festival. a key
marker In the clrcus calendar, was unable to takè place in 2020 due to COVID restrSctlons.
FEDEC launched a digital performance segment which Is agaln belno added io the schedule
of events for 2021 to enable schoo5s from around the world to continue to share work despite
ongoing travel restrictlons.
The new iegulatory framework for Hlgher Educatlon has meant change wiihln the
ConseNatoire for Dance and Drama and its member schools. who. after much thought, have
each now èmbarked on either an appllcatlon for Independent reglstratlon or developing a
relatlonshlp with a new HE partner. The alm 15 now for CDD to wond down In the autumn of
2022 if all the member schools are successful. CDD Is supporting all of the member schools
wlth tralnlng, advlce, guidance and support a5 we prepare for Independence whllÈ maklng
sure the student experlence Is not In any way damaged.
K•y focus for 2021122
Successful￿ complete our appllcatlon proces5 wlth the Office for Students for
reglstratlon as an independent higher educatlon provider, including going through a
rigorou5 Quality Standards Revlew process.
Flnallsing the detall of oui Access and Partkipatlon Plan and It bein9 approved by the
Office for Students.
Page 11

National Centre for Circus Arts
Trustees Report & Financlal Statements
For the year ended 31 ￿ July 2021
Plannlng for our Perlodlc Programme Review by our valldating partner UnNerslty of
Kent (delayed from 2020121 l includlng maklng major module modlflcatlons as we re-
wrlte our course 50 It 15 relevant and reflects current best prartice In leaming and
teachlng.
Embed our new structure into the organlsatlon In readlness for our flrsl Natlonal
Centre reglstered cohort of students in September 2022.
Supportlng drcus professlonals and complnles to create great clr¢u$
In September 2020 we reopened our tralning space with extenslve precautlons to ensure It
was as COVID secure as possible. For our professional members this meant a new system of
booking a tome and space slot, trainlng In a soclally dlstanced way and wlthout us being able
to offer space for group5 to gaiher and network. Our successful appllcatlon5 for Culiural
Recovery Fundlng meant we were able throughout to offer elther highly subsidised or free
training to our members. At a tlme when freelance artlsts were mainly unable to work, this
Support was invaluable. All mèmbers continue to recelve weekly communlcatlons wSth sector
updates. lob and tialning opportunltles along wiih any Information we have alx>ut funding
opportunltles for artlsts. The Natlonal Centre contlnues to support the creailon of great CITCUS
by using ou r resources In a variety of creatlve ways to enable great Ideas not to fall at the flrsl
hurdle due to lack of funds and we reopened the Creatlon Studio as 500n as was possible.
Between August 2020 and Juty 2021 we supported 74 art15ts to use the space.
Our support programme for artlsts wlth funding from Jerwood Aris was juggled throughoui
the year to enable artlsts to fflake the most of development time and space between
restrlctlons. The flrst year of the project has been completed after signlflcant delays, but has
provided vital opportunity for artlsts when WO￿ has been scarce. Jewod Aits have been
supportlve, flexlble and under5tandlng, allowing us to Support the circus artists Involved In
the best way possible.
Our Cultural Recovery Funding was crltical In the development and dellvery of a week-long
masterclass festwal for the professional mÈmbershlp. Designed and co-created wlth one of
professional members as curator, the prggramme had a mix of classroom based, online
and practical sessions led by expeit practltloners from all over the world. The opportunlty to
get together, In person or online. was welcomed by the community and the whole week of
events was Incredib￿ successful. Havlng tested the appetlte for thi5 kind of professional skills
sharing we hope to create a slmllai event In 2021122.
Our support for artists and companies wlll Con￿nUe to be responslve, led by Investment in
our own webslte and IT systems, which will allow us to share policles. procedures and
example5 of best practice in teachlng. rigglng and technlcal clrcus, health and safety,
safeguarding etc. more easily. Our new websiie, made possible wlth Cultural Recovery
Page 12

Natlonal Centre for Clrcus Arts
Trustees Report & Financlal Statements
For the year ended 31# July 2021
Fundlng, launched in earfy summer 202 1 and Is gradually belng populated with new content
In¢ludlng a regular podcast featuring industry expert guests.
W focus for 2021122
Launch of round two of the JeNood Art5 Clrcus Resldencles.
Increase support for open tralning professlonal Members to enable a recovery for
careers impacted by COVID-19 Including the development of a vlrtual 'green room.
where ari15f5 can access and share resources.
Dellver a second masterclass season with a range of toplts driven ￿ sector needs.
Complete and embed our new web51te and contlnue our dlgltal technology
development.
Supportlrfj young poople. the wlder sector. assoclatts aftd t*athers
The year ￿gan In August with an onsite programme tlmetabled for the London Youth Clrcus
ILYQ whlth focused on floor-based actfvitles only IhandsLands. Tnanlpulatlon, acrobatlcs.
tlghtwirel to help reduce rhe need for shared equipment that Increastd the risk of
contaminatlon. From October 2020 aerial activity was once again made available in the
programme due to the purchase of more aerlal equSpment made posslble by Cultural Recovery
Funding, and our Sunday timetable was retyrned to pre-COVID levels. Students wère all able
to train in tholr maln skills oncè again.
We had 28 Centrè of Advanced Tralnlng (CAD students start on the schemt in September
2020 with 15 from circus schools outslde of London. After a tough 6 months with limited
training opportunltles, In October 2020 we were able once again ro welcome all of the CATS
to London for an Inlenslve training opportunity in half term, focused on rebullding slrength,
fitness and confidence. We followed thi5 Wlth an increase to the number of classes belng
available to these siudenis to ensure they tould Increase their focus on thelr tralnlng.
During this term we were uslng our Space as effectNefy as we could t9 5UPPOrt our
prole55ional members, degree and youih students. The re5trlcllons In place around numbers
and managing tra5nlng In a suitably soclally d15tanced way meant we were not able to run any
of our recreatlonal for adults or young people. Llkew15e. we dld not run any outreach activlty
at thls tlme.
With the winter lockd¢)wn hltting in January 2021 , we closed the spate once again and reverted
to provldlng onllne classes In condltSonlng. juggllng and handstands to keep a connectlon
wirh all our London Youth Circus and CAT students. ThSs programme was enhanced wlth
online wellbelng classes to help support mental health across the LYC & CATS. Our CAT
students benefitted from worklng with some speclalist teathers offering support to our
Page 13

National Contre for Clrcus Arts
Trusttes Report & Flnanclal Statements
For the year ended 31st Juty 2021
hlghest level student5, as well as creat￿e sesslon5 to support those maklng applications to
circus and performing arts schools around the UK and beyond. Belng online only at ihls polnt
dld nol Stop us delivering an intenslve CAT programme in February with a focus on creatbve
choreography, mobllity. handstands and manipulatlon.
In March we wère able to open up and rèstart our LYCICAT classes In our bulldlng once agaln,
dellvering a programme as In the prevlous autumn term.
Del￿ery of outreach work was a challenge but In February we began runnlng onllne Juggling
cla55e5 for 3 7yrs and 8 - 1 l yrs. Initially promoted to our youth recreatlonal piogramme
famllles, we then opened them up very successfully to the general public running through to
mid- August.
We also trialled a rÈtum to our Sensory Circus programme for young people wlth specific
learnlng differences by testlng an online verslon of this for some participants. We were only
too aware of the dlfficulties faced throughout the pandemic ￿ thls group and wanted to see
rf our actfvlty could be useful to these partlcipants and thelr families. We ran ihis for 6 sessions
but the onllne veislon was not a method our Sensory youth liked. For 2021122, wiih support
from Chlldren in Need and the Rayne Foundation. the Sensory Clrcus programme iestarted,
In person, in September.
In February 2021 we ran an onllne Natlonal Youth Circus Event. welcoming circus Schools
from across the UK to take part In a day of workshops for both youth and practltloners. Thls
was a huge 5u¢cess wlih 85 young people registering to take part alongside 32 practltioners.
We will take what we learned from th15 event and feed It into future plans for how we can
enable more young people to engage each year. and how we can support professional
development for more teachers.
In June 2021 we ran a CAT Intenslve with Slmple Cypher. a Natlonal Centre graduate company,
and had all of our 28 CAT students in the spacè for rhe final intensive of the year. We flnished
off the year with a cabaret performed by our CAT students with I l of them graduating from
the scheme at the end of July 2021 . Sevèn of those graduates have moved on to Performing
Arts Degree5 includlng those here at the National Centre and at Codarts In Amsterdam
amongst others.
In August and September 2020, the tralnlng team worked wSth the programme dellvery teams
to prepare for reopenlng and welcomlng teachers back inro our fully COVID prepared trainlng
5pace5. There was a focu5 on clear tommunicaiions around hygienÈlcleaning, mask wearlng,
social distancing, and restrlcted numbers In spates. All of thls was addressed from a teachlng
perspectlve and what adaptatlons could be used to replace touch and spotting a5 support
method5. Short vldeos were produced and were shared with all teachers. Follow up practbcal
Page 14

Natlonal Centre for Clrcus Ans
Trustee5 Report & Flnanclal Statements
For the year ended 31 # July 2021
sessions were held wlth Degree teachÈrs to look specfflcally at teachlng In certain high contact
dlscipline5.
"Circus enhanced. PE Sessions were delivered In autumn 2020 as a pilot projecl in 3 PTlmary
schools. Lockdown restrlcted further work but we are now back In touch with the schools and
are 5tartlng on that project agaln.
Durlng lotkdown early in 2021 the team launched of the Virtual Staff Room. Thls week
meetbng hosted by our Teacher EducatSon Managers is open to all teachers. Durlng a time
when conne£tlon and ¢ollaboration was challenglng. rhls Inltiative Is a huge success for
teachÈr engagement and sharing of Ideas and practice. This work led to the tlmely dellvery of
a session on developlng onllne teachlng practice, clearly an area wlth challenge5 in Such a
physkal dlsclpllne.
Our role as the National Centre for Clrcus has been challenged by the huge Impact of COVID-
19 on the circus sector and we have trled tts be responsive to the needs and desires of our
communlty and pariner organlsations. The support we have offered has varled hugely but we
have trled to ensure that informatlon Is easlly avallable io professlonal artlsts vla our
newsletter and regular updates. and wè trèated a 5Ulte of home trainlng fllms for children and
young people io enable them to contlnue rheir clrcus Journey In lo¢kdown. Classes were
delfvered live online for various groups and wè engaged external professlonals to brlng rhelr
expertise to our students. Within the sector we have facllitated and supported debate and
entered Into discusslon and forums around varlous topl¢s Including COVID safety for bulldlngs
and in tsaching practice. space availability and 5Ultablllty. technlcal and rlgglng 155ues, health
and safety and cleanlng and hygiene and business plannlng for those reviewing strategy,
offerlno our staff team'5 expertlse and knowledge vla varlous means. We have supported the
Circus Change Up network In variou5 ways with staff members belng present In a varlety of
worklng groups as well as supportlng costs for some freelance clrcus arilstS to enable them
to devote tlme and their (Mn expertlse to contrlbutlng to the debates and actions being
developed. Never has it been more necessary foi organ15ations to unite and support eath
other through the challenges of worklng through and beyond the pandemic.
Key focus for 2021122
Embed the new programme structure and roles to deliver consistent hlgh quality circus
educatlon for all user groups.
Achteve targets set wlthln our Access and Participation Plan to engage with groups In
area5 of low particlpatlon In and underrepresented groups In all prtsgressive training
programmes.
Develop our teacher training offer vla online plarforms to create a resource Ilbrary that
15 accessible and wSdely shareable a5 well as face to face iralnlng partlculady focussed
on equlty. dlveyslty and Inclusion.
Pa6e 15

Natlonal Centre for Clrcus Arts
Trustee5 Report & Flnanclal Statements
For the year ended 31st July 2021
Corporat* commerclal work
The work we deliver to the corptrrate and commercial 5eciors Is crucial to supporting the
dellvery of our charltable objective5 and completety ceased between March 2020 and
September 2021. The team have used the tlme, when noi furloughed, to redeslgn some of
our existing systems and have kept in tou¢h wlth previous cllents In the events sector to
ensure we are able io understand the challenge5 of the re-emerging market. With su pport
from the Cultural Recovery Fund we have been able to Improve our offer for hlrers by
upJrading our broadband and WiFi capacity to make Ilve steaming of events posslble. as well
a5 creatlng new meetlng r<x>m and offlce space available as part of a hire package. We have
upgraded th¢ power supply internally and tts our ouiside courtyard Space whlch Is IncredSblv
useful to many events hlrers who are still reluctant to move to planning events Inslde. Our
abs11ty to provlde good ventilation through our alr handllng sy5tern as well as access to fresh
air In most spaces means we are well placed to support eveni hlres as they ￿gIn to plan for
In-person events once again. The development of a new corporate workshop offer has been
ongolng rhroughout the year wlih our team worklng in partnershlp wlth a consultant to devlse
a radically different offer for the corporate marf¢et. Thls Included huoe amounts of research
Including interviews with potential clients to ensure wè can respond to client expecratlons
and deslres.
Ktyfocus for 2021122
Reignlte our venue hlre work as the market recovers f rom COVID-19.
Launch our corporate learning and workshop offer for a new target market.
Complere the restructure of our programmes wlth the move of recreatlonal circus
activliy Into the Commercial Dlrectorate.
Managlng our natlonal rol• and repjtatlon
The support we can offer the wlder sector Is crucial at this time and how we engage with other
clrcus artlst5 and organlsatlons. to ensure the challenges we are all facing are heard at the
highesi levels. Is a key priority. We are actlve wlthln various groups and forums, many of whlch
have grown from the devastation and chaos that has been caused by COVID-19. However, we
currently lack speclflc resources allocated to our natlonal reach and therefore our approach
Is largely ad hoc and reactlve rather than proactive. We want tts develop more open Informatlon
sharln9 and a wllllngness to collaborate in ways that have previously not been explored.
The National Centre operate5 effeu1ve￿ In the dlglral world with a ¥ibrant social media
followiThg and we allocate significant resources to ensurlng that our communlcatlons across
all platforms are p051tlve. current and relevant.
Page 16

Natlonaj Centre for Clrcus Arts
Trustees Report & Flnanclal Statements
For the year ended 31rt July 2021
Our current undergraduate cohort faces huge challenges and we are worklng hard to make
sure we support student and graduate expectations of the workplace. We are offerlng athlce
and 5UPPOrt to other circus companies and artlsts across the UK by provldlng newsletters and
dSscus5ion forum5 for toplc5 ralsed by the sector. We alm to make sure there are rngular, If
remote, opportunltlÈs for rÈglonal debate and ski115-sharing so artists are not left Isolai•d.
While we cannot offer financial 5UPPOrt to other5, we can enable the sharing of g¢)od pracilce.
advocacy and lobbylng for the benefit of all.
Key focus for 2021122
Consult wlth the Sector on what 5UPPOrt it needs from the Natlonal Centre [￿St-
COMD.
Develop a sulte of on-llne guldance and advice for freelance clrcus artlsts.
Pagè 17

N*lonal Centre for Clrcus Arts
Tfustees Report & Flnanclal Stat•m¢nts
For the year ended 3 IAt July 2021
Flnanclal revlew
The Natlonal Centre's Income
Un5urprlslngly, our income mix was agaln slgnlficantly reshaped by the COVID-19 pandemlc.
Durlng the year we reiognlsed further emergency grants of £833k from the Arts Council and
of £270k from rhe Coronavlrus Job Retentlon Scheme l.e. a total of just oveT £ 1.1 Om. Together
wlth grants from the same sources in 2019-20. the Natlonal Centre has received total 5UPPOrt
over the two years of £1.53m. whlch have been essentlal to our financial viability. The Finance
Team played a key role throughout in the application process foi these grants.
The followlng table clearly Illustrates the collapse in our Recreatlonal and Commerclal Income
and lis replacement by the Grants detalled above, leavlng the overall income at a very slmllar
level..
2020-21
37%
57%
6%
2019-20
34%
Hloher Educatlon
Non-HE Crant5 & Donatlons
Commerclal & RÈtreatlonal
35%
31%
loo%
i OOY6
Total Income
£2.78rn
£2.70m
Total Unrestrlcted Income remained hbgh at 88%12020.' 92%) although the number of sources
of Donations and Grants reduced during the year.
Results for the fftr
DespSte a veiy dlsrupted year, the National Cenlre achleved a small surplus of £ l Ok., the
following graph illustrates our flnancial hlstory over the pasi flve year5-
Flnancial Results 201&17 to 202[￿21
2700
2500
2400
2300
2WO
21QO
201&17
2017-IB
2018-19
2019-20
zo.
rotal In¢om•
Surplu$hDeficit
Pag* 18

National Centre for Clrcus Arts
Trustees Report & Financlal Statements
For the year ended 31x July 2021
At the year-end. the chartty together with its two irading subsldlarles had net current assets
of £182k 12020 £174k) which included cash balances of £676k 12020.. £832k),' these
predomlnantly represented the Unre5trlcted Reserve on 31 stJu￿ 2021 (see below).
Unrostrfcted Reserve Colng CoKern
As a matter of pollry, each year the Trustees review the value of resetves held In Invèstments.
cash and cash equivalents that are not restricted to any parilcular purpose. We also conslder
our exposure to the rlsk of any slgnificant1055 of Income or unforeseen cost. A drop In Income
is the major risk that thtse re5eNes mltigate again51 and we recognise that there Is always an
income risk in relatlon to the current economic cllmare, current market condltlons, the
changes wlthin publlc sector funding and now, of course, general public health. We also
account for expected expendlture on upcoming capital project5.
The Unre5trlcted ReseNe of £645k at the beglnnlng of the year ensured the charlty could
maintain Its core operatlon for a perlod of at least three months in the worst of circumstances.
Thè Btsard target for a General ReseNe was Tevlsed upwards to £520k as of 3151 Juty 2021 to
reflect an increa51ng cost base consequent on a predlcted retum to pre-COVID leve15 of
tradlng.
Unrestricted re5erve5 Stood at £655k on 31 st July 202112020.. 1645k) and, whi15t thi5 15 above
the Board'5 target, our Budgei for 2021-22 and Projection foi 2022-23 predlct that thls
additional cover wlll be required as the National Centre rebuhlds Its Commercial and
Recreational Income, without the shelter of COVID relaied grant5. and when the Government
reduces key teachlng grant5 in 2022-23.
Loan facllltles of £200k have a150 been agreed with our malnstream bankers. the Co-operatNe
Bank, under the Government's Coronavirus Buslnes5 Interruption Loan Scheme and secured
on the group's long lease on Coronet street. Whllst li is noi projected that these funds wlll I
requlred In any way, the facility represent further securlty agalnst the Impact of an unforeseen
*vent, somethlng COVID-19 of course represented.
In Ilght of the above, the Trustees conslder It approprlate to prepare the financlal 51atementS
on a golng-concern basls.
Page 19

Natlonal C•ntre for Clrcus Arts
Trustees Report & Flnanclal Stat•ments
Forthe year ended 31￿ July 2021
Subsldlary Companles: Revlew of Activltles
The companies are wholly owned subsidiarles of the charlly- trading proflts are
dlstrlbuted to the charity to 5UPPQrt our charitable objective5.
Clrcus Space Properry Company Llmlted
The Property Company holds the 150-year lease of the three phases of the Htsx￿n slte.
It Is through the Property Company that we managè the lertlng of space to Small to Medlum
Enterprises ISMES) Sn OUT small office units and to companies using the Creation Studio to
make and rehearse work. Thls revenue stream was reduced thi5 year by a rent reduction for
the SMES durlng lockdown in earty 2021. and the slow recovery of companle5 feellng confident
to make and rehearse work.
In 202012021
2 art15tslcompanies have spent tlme free of Charge In the Creation Studio, equatlng to
2 day5 given as support in kind at a Commerclal value of approxlmately £ l. I k.
74 people who are circu5 Or oiher cultural professiona15 have collectfvely spent 60
days In the Creation Studlo at a supported rate, equallng to approxlmatety £15k of
subsi(ty.
89% occupancy across the year of the I l uni15 that make up the Energy Centre.
Clrcus Space Events Umlted
It Is through the Event5 Company that we manage corporate and prlvate tralning workshop5
and hires of our large tralning spaces and courtyard for major events. Agaln this area of our
work was almost non-exlstent with only tsvo hlres throughout the year. These were auditions
for a clrcu5 show and were from wiihln our sectoi and ran for Just three days.
We have spent tlme and energy worklng hard to make sure we are ready for when ihe event5
market come5 back and have made improvernents tts our Infrastructure which we hope will
make us an even more deslrable venué In a competltlve market.
Our corporate events offer dld not dellver any workshops durlng the year and once more we
have used the tlme to develop a new product for the corporate learning market and have It
ready for trlal In early 2022.
Page 20

Natlonal Centre ftir Circus Art5
Trustees Report & Flnanclal Statements
For th• year ended 31 st July 2021
Prlnclpal Rlsks and Uncertalntles
We have a rlgorou5 approach to risk management and risk is identified and dlscus5ed
throughout the organlsatlon wlth rhe trustees, via the Audit Subcommittee whlch recelves
quarterly informatlon for scrutlny and reports to the board of twstees. 2020 has gNen us the
unique new rlsk of all that ha5 come with COVID-I g and thi5 risk has been overlald on all
exlstlng rlsk assessments.
We have Identlfled the following as slgnificant rlsks:
Consertolre for Dance and Drama and Hlgher Educatlon
The new regulatory framework for Higher Education has meant change wlthln the
Conservatolre f(>1 Dance and Drama and lis member schools, who, after much thought, have
each now embarked on elther an application for independent rÈ9lstration or developing a
relationship wlth a new HE partner. The aim is now for CDD to wlnd down in the auiumn of
2022 If all the member Schools are successful and students wlll be reglstered for the 2022
Intake dlrectly with the school. Allgnlng exll plan5 and ensuring CDD can continue to deliver
it5 Statutory iole presents challenge5 and 15 being managed by the member schools and CDD'S
small rentral Staff team worklng together close￿. The overriding objech.ve Is to ensure the
student experience remalns excellent.
The National Centre has applied to the Office for Students to be reglsteied as a HE provider
and we hope for a declslon in the Sprlng of 2022. Independence will bring a dlrect rtSatlonship
wlth the regularor. wirhout the intermediation of a thlrd party,. however it wlll also bring
hallenges a5 we prepare io assume the re5ponsibllltles thai have been tarrled out by the
cenrral team at CDD for many years. We are planning Careful￿ and still worklng &long5ide
other CDD member schools to obtaln eff iciencies and mutual support where we can.
FufftdSng and economlc rlsks
Durlng 202012021 our statutory fundlng from both Aits Councll England a5 a National
Portfollo Organisation and from the Hlgher Education Funding Counclll Offlce for Students
remained static at the same level as In the prevlous year. However. we are plannlng for the
uncertalnty created by the prospect of changes In HE funding that look ever morè likely as
hlgher education is revlewed. Our t105ures during the 2020121 academlc year resulted In a
105s of earned and fundralsed Income Sn excess of 1700.000. We were fortunate in apptying
for and achleving Arts Council support vla the two rounds of Cultural Recovery Funding and
have an outslanding application wlth ACE n<)w for CRF3. Thls coupled wlth our use of the
government Job Reteniion Scheme ha5 been Critical to our survlval and ability to respond to
thè fast-changing landscape.
Page21

National CeTrtr• for Clrcus Arts
Trustees Report a Financlal Stat•ments
For thé year ended 31A July 2021
We remain ambltlous both for our5efves and our art form. However, we recognise the
significant risk associated with rellance on any sinole source of fundlng or Income and
endeavour to ensure a broad base of economlc opporlunities supported by robust flnanclal
controls and an ablllty to respond swlftly to èxternal change5, borh In terms of risks and
opportunities.
We had made signifirant progress in driving income from the use of our main a55et, the
buildlng, by hosting an Increaslng number of corporare events during the year. COVID-19
brought the events indusiry ro a halt, but from September 2021 we have seen the firsr slgns
of thls actlvity resumlng, though pace of growth is uncertain. We will seek alternatlve funding
and supwirt lo mitlgate any losl income.
Fundralslng
Fundralslng targets are beSng reviewed and recruitment is underway foy a new fundralser to
Joln the team which has now moved into the Commerclal Directorate. The charitable s¢¢tor is
under huge pressure and funders are seelng increaslng dernand for resource5 as government
schemes developed during the pandemic are being drawn to a close. The develDpmentsl work
we are plannlng 15 largely scalable and only undertaken when fundlng is secured. We have
reviewed our fundraising strategy. worklng wlth a consultant In early 2021 10 test our forward
planning. We have declded to run a Gala event in February 2022, with plannlng In place for an
event wlth a slightly smaller capaclty than previous events. We are taking a cautious approach
and ate Ilmiting advance sponding as far as possible whlle not compromlslng on quality or
our deslre to welcome back our supporters and advocate5 after such a long tlme. Ralslng
support for core costs remains challenglng.
Raislng voluntary funds from trusts. foundation5 and indfvlduals is a vltal source of income
for the National Centre. enabling us to fulfil our charitable obJectlves as effectlvely as possible.
We are grateful for the support glven by all our donors. We believe that fundraising should be
an open, honest and respectful process and we alm to bulld and maintain solid partnerships
wSth our supporters and donors, baséd on mutual understandlng and shared values and goals.
In developlng our approach to fundraising we have considered the Code of Fundra151ng
Practice issued by the Fundraislng Regulator. The Natlonal Centre operates wlth a very small
Internal fundfaislng team and doès not engage txtÈrnal professbonal fundraisers 01
commercial partners ro carry out fundralslng actlvity.
In May 2018 the Natlonal Centre foi Clrcus Arts reviewed and upjated its Privacy Policy to
ensure tompliance with the new General Data Protectlon Regulations. This pollcy, published
on our webslte. Clear￿ 5tate5 what personal data the National Centre wlll hold in relatlon to
SUPPOTters and how thls data wlll be used. It sets out how Individuals can ralse concerns or
Page 22

Natlonal Centre for Clrcus Arts
Trust••s Report & Flnanclal Statsments
Forthe year ended 31rt July 2021
complalnts. The NatSonal Centre for Clrcus Arts has re¢èlved no complaints about Its
fundraising actlvltles elth*r durlng the f inancial year or subsequently.
Ensurlng robust gmrnan
Our Trustee Board doe5 not currently represent all of thè communltles we seek to serye.
2021122 offers an opportunlty tts dlversify the make-up of our Trustéè Eoard. as a number
of posltlons wlll fall vacant. We will be encouraglng appllcarlons from under-represented
group5, partlcularly people from Black. A51an and Mlnorlty Ethnlc communltles. but also from
a broad age-range and people Ilvlng with disabilities.
Our Trustee Board is Current￿ entlrely London based, although not from our local community
in Hackney. We hope also to recrult new members from across the UK to help us to understand
and amplify the challenges faced by tlrcus artists and companies wherever they are based, as
well as trying to encourage applkatlons that will help us to reflect our local communlty.
Page 23

National Centre ft)r Clrcus Arts
Trustses Report & Flnancial Statements
For the yar ended 3 1st July 2021
Governance and Internal Control
The Trustees have identified and Sncorporated best praetlce In accordance wlth the charltles
SORP and Charlty Commlssion guidance.
The charlty endeavours to conduct Its buslness In accordance wlth the seven princlples
identified by the Committee on Standards In Public Llfe
selfle55ness. Integrity, objectlvity,
accountablllty, openness, honesty and leadership.
The Charlty 15 an afflllate of the Conservatoire for Dance and Drama ICDDI, an education
corporatlon under the terms of the Educatlon Reform Act 1988 and HE Aci 1992.
Our Governing Body and Academic Board. each have clearly defined funcilon5 and
responslbllltles to oversee and manage our activitie5.
a) The Governing Body Is the Trustee 8¢ard. responsible for malters Including financè,
property and staff ing of the in5tltutlon. It Is specifically reaulred to determlne the
educalional character and mission of the instltution and to set Its general strateglc
direction.
The Trustee Board has several Independent advisors. The Chalr Is èlected from among
the trustees., Trustee Btsard meetings are attended by all members of the Senlor
Management Team. No members of the Trustee Board may receive remuneratlon for
the work that they do for that body. New trusiee5 are recrulted vla an open recruitment
process of advertisement and Inte￿ieW which Is overseen by the Remuneratlons and
Nominations Commlttee. All trustees are gfven an induction into the organi5ation by
the Chief Executfve. regular performance review by ihe Chalr of Trustees and are
offered relevant tralnlng when it arises. Sn addition to regular subcommlttee and full
board meetlngs, the trustee5 meet annual￿ for an away day to review performance
and set strategy for the comlng years.
bl Subject to the ovèrall responsibillty of the Trustee Board, Ihe Academic Board has
overslght of academic affairs and draws Its membership Èntlrely from the staff and
students of the charity. It 15 partlcularly concerned with general Issues relating to the
learnlng, teaching and ￿Search work of the charity.
The Chief Exerutive 15 the head of the charlty and has a general responslbillty to the Trustee
Board for the organisatlon, direcrion and management of tho charlty. Under the terms of the
formal financlal memorandum between the charlty and CDD. the Chlef Executlve Is the
accountSng offlcer and, that capacity, can be summoned to appear before the Publlc
Account5 Commlttee of the House of Commons.
Page 24

Natlonal Centre for Circus Arts
Trustees Report & Flnancial Statements
For the year ended 31 * July 2021
Although thè tiustees meet at least four tlmes each year. much of the board's detailed work
is delegated to commlttèes for Finance, Nomlnatlons, Remuneratlon and Audit. These
commlttees operaie under spe¢lflc term5 of reference with all mlnuies belng reported to the
Tnjstee Board, and all de¢lslons being ratified by the Trustee Board.
In 2021 we establlshed the Equality, Diversity and Incluslon Commlttee. made up of
representailves from across a broad spectrum of the organisatlon, Includlng staff, teacher5,
professSonal members and students. The Committee Is chaired by the Chalr of Board, and
reports to the Trustee Board.
The trustees delegate responslbS11ty for settlng remuneratlon of senlor staff to the
Remuneration and Nomlnations Commlttee. The committee follow a process of exLernal
benchmarklng wlthln our sector, with particular reference to our peers wlthln the
Conservatolre for Dance and Drama, to set sultable levels of pay wlthln our own pay stmcture.
A slgnrflcant proportlon of the membershlp of these committees consists of members of thè
Trustee Board. CD-OPted staff and student members may also be eligible 10 Serve on some of
Ihese committees, subject to the provislons of the arricles. The Chalr of each committee Is
selected from the Trustees.
The Chief Executive and senior management team exercise5 considerable influence over the
development of the InstStutional strategy, the Identiflcatlon and plannlng of new
developments. and shaplng of the institutional ethos. The Senlor Management Team all
contribute in various ways to these aspects of thls work bui the ultimate respon51bility for
what is done rests wlth the Trustee5.
The chaTlty malntalns a reg15ter of interests of the Trustees and 5*nlor Management Team
which may be consulted by arrangement wlth the Company Secretary.
Pa8e 25

Natlonal C•ntrn for Clrcus Arts
Trustee5 Report & Flnanclal Statemerrts
For the year ended Jl rt July 2021
Statement of Trustees Respon5ibllltles
The Trustees (who are also directors of the National Centre for Circus Art5 fol ihe purposes
of company lawl are responsible for preparing the Trustees, Report (including the Strategic
Report) and the flnanclal statements in accordance wlth applicable law and Unlted Kingdom
Accounting Standards Iunlted Kingdom Generally Accepted Accounting Practica.)
Company law requlres Trustees to prepare financial Statements for each financlal year whlch
oove a true and falr vlew of the state of the affairs of the charitable company and the group
and of the incoming resources and appllcatlon of resource5, Sncludlng the Income and
expendlture, of the charitable group for that period. In preparing these flnan¢lal statements,
the Trustees are requlred to..
5È1Èct suitable accountlng pollcles and then apply them conslstently-
obseNe the methods and prlnciples in the Charltles SORP.,
make judgments and estimates that are reasonable and prudent.,
State whether applicable UK Accounting Standards have been followed, Subject ro any
materlal departures disc105ed and explalned In the financlal statements-
prepare the flnanclal statements on the golng concern basls unles5 It Is inapproprlate to
presume that the Charl￿ble company will continue In buslness.
The Trustee5 are responslble for keeping propèr accounting records that dlsclose wlth
reasonable accuracy at any rlme ihe flnanclal posltlon of the charitable company and enable
them to ensurè that the financial statements Comp￿ with the Companles Act 2006. They are
also responslble for safeguarding the assets of the charltable company and thè group and
hence for taklng rèasonable sieps foi the preventlon and detection of fraud and other
irregularltles.
In 50 far a5 the Trustees are aware..
there Is no relevant audit informatlon of which the charltable company's audltor Is
unaware., and
the Trustees have taken all step5 that they ought to have iaken to make themselves awart
of any relevant audlt informatlon and to establish that the audltor Is aware of that
Informalion.
The systems of Internal control are deslgned to provlde reasonable. but not ab501ute.
assurance against material misstatement or loss. These Include-.
A strateglc plan and an annual budyet approved by the Trustees.
Page 26

Natlonal Centre for Clrcus Arts
Trustees Report & Financlal Statements
For rhe year ended 31rt July 2021
Regular con51deratlon by the Tru5tee5 of flnanclal results includlng variance from the
approved budget.
Delegation of authority and sogregation of duties.
An annual formal internal audit conducted by an internal audStor appointed by CDD, wfjth
the resulting report and actions reviewed and approved by the Trustees. One such audit
has taken place durlng the year.
Identlflcation and mallagement of ilsks.
The Trustees have formallsed the management of risk. The risk register is developed and
monitored by the Chief Executlve and Senior Management. It identlfies risks to the charity in
terms of their Severity and probability and identifie5 actions to be taken to mitigate the risk5.
Identlfylng timescale and responsibility. The Trustees review the register annually.
This report ha5 been prepared In accordance with the speclal provi5iofbS of Section 381 of the
Companies Act 2006 relatin9 to small companies.
By order of the Board
Allson Klng
Chalr of the Board
16 November 2021
Page 27

NATIONAL CEfftE FOR aRCU5 ARTS
5TATirroRY ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2021
Independent Audltor5 Report to the Trustees of the Natlonal C•ntrn for cl￿￿5 Ans
We have audlred Ihe financlal 5tatemen15 of the National CentTe for Circus Arts for the year et)ded
31 luty 2021 which comprise the Consolidated Staiement of financial Activitie5, the Group and
Parenr Charitable Company Balance Sheers. the Consolldated Statement of Cash flows and nott5 to
rhe financial statements. Including a summary Df significant accounting pollties. The financial
rEPOrting framework thai has been applied In rheSr preparaiion Is appllcable law and United
Klngdom Accouniing Standards (United Kingdorn Generally Accepted Accounting Practlcel Including
FRS 102 The Financial Reporting Standard Applliable in the UK and Ireland.
In our opinlon tht flnan¢ial statements..
glvÈ a true and latr view Of the State of the group's and the parent charitable company's
affairs a5 at 31 July 2021 and of the group'5 incorne and expendlturè for the year then ended.,
have been properly prepared in accordance with Unlted K>n9dom Cenerally Accepted
Accountlno Practl£t.' and
have been prepared in actordance with ihe requiren7ents of the Companles Act 2006 and ihe
And In our opinlon in all rnaterlal aspecrs..
funds adminlstered by thE National Cenrre fDr Cirtus Arts for specific purposes durlng the
year ended 31 July 2021 have been applled to Ihose purposes and managed In accordance
fund5 provlded by the 0￿ and Research England havè beén applied in accordance with the
terms dnd conditiens of the Accounr5 Direction and any other terms and condltlons attaihed
to them during the year ended 31 Jul¥ 2021..
rhe requirements of the Ots's accounts dlrectlon have been met.
B4515 for oplThlon
We conducted our audit In accordance wlth Internatlonal Standards on Audltlng IUKI I"ISAs IUK) I
and app1￿cable law. Our responslbllities under those standards are furih*r described in the audltor5'
respon5ibllitles for the audit of the flnancial statement5 sectlon of our report. We are independent
of the charitable company In accordance ¥vith the ethical requirement5 that are relevant 10 our audit
ef the flnancial 5tdtemenis In the UK, including ihe FRC'S Ethlcal Standard, we have fulfllled our
other ethlcal responslbllltlE5 In aciordance vilth these rÈquiremenis. We believe that the audir
evldence we have obtalned is sufficient and appropriate to provide a basls for our opinlon.
Concluslons relatlng to goln9 cofKem
In auditing the financlal sratÈments, we have concluded that the trustee5' use of the golng concern
bas15 Of accountlng In the preparatlon of the finarcial statÈmentS 15 appropriate.
Based on the work we have performed. we have not Identified any matErial uncertainiies relatlng to
event5 01 conditlon5 that, individually or collectlvel¥, may ca5r 51gnlfi£ani doubt on the charitable
compaJ)V5 abllity io coniinue as a 9olng concern for a period of at least twelve month5 from when
the financlal statements are author15ed fDr issue.
Our responslbilities and the re5ponslbilitie5 of the trustees wlth respect lo golng concern are
described In the relevanr sÈtli¢)ns of thls report.
Other Informatlon
The other Information corrprises rhe Informatlon Included In the annual report. other than the
financial statements 3nd our auditor'5 report thereon. The trusrees are rtsponslble for the other
inforrnation. Our opinion on the flnanclal staternents does not cover the orher informatlon and,
except ro the exient oihtrw15e explicitly stated in our report. we do not express any form of
assurance Conclusion thereon.
In connection wlth our audii OF rhe financial statement5, our responslb1511y IS to read the other
Informatlon and. in dolng so, consider wh£ther rhÈ other information Is materially Inconsistent with
the financial statements or our knowledge obtained in rhe audlt or otherwi5E appear5 to be
rnaterlally rnlssraied. If WÈ identify such maierlal Inconsisiencle5 Qr apparent materlal
155ratements. we are requirtd to determine wherher there 15 a material misstatement In the
financial statement5 or a material misstatement OF the other informatlon. If. base(J on ihe work we
have performed, we conclude that there 15 a materlal mlssiatement of this other information, we are
required to report that fart.
Pa(

NATIONAL CENTRE FOR CIRCUS ARTS
STATUTORY ACCOU￿rrS
FOR THE YE4R ENDED 31 JULY 2021
Ind•pendeTht Audltors Report to the Trustees of thè Natlonal C•ntre for Clrcus Arts
Oplnlons on other matters pr•scrlb*d by th• Companlqs Act 2006
the information given in the trusrees, annual report for thé financial year for which th*
financial statements are prepared is consistent with thé finantial statements.. and
Ihe trusiees, annual report has been prepared in accordance with appllcable legal
reauiremenrs.
Matters on whlth we ar• r•qulr•d to r•port by exceptlon
In the light of the knowledge and understandin9 of the group and parent chariiable company and its
environment obtalned in the course of ihe audit, we have not identified marerial misstatements in
the trustées, annual report.
We have nothing to report in respect of the following matters where the Companies Act 2006 and
Ihe Charities Acr 2011 require u5 lo report to you if. in our opinion..
the parent charitable company has not kèpt adequate and sufficieni accounting records, or
returns adequate for our audit have not beén received from branches noi visited by us., or
Ihe parent charitable company's financial stitements are not in agrtemeni with the accounting
records and returns., or
certain disclosures of tru5tÈès' remuneration specified by law are not made., or
we have not recerved all the information and explanations we raqulre for our audit.
Responslbllltles of trustees
As explained more fully in thè trustees. re5pon5ibilities Statement thé trustees Iwho are also th
directors of the charitable company for ihe purpose5 of company lawl are responsible for the
preparation of the financlal statements and for being satisfied that they give a true and fair view,
and for such internil control as the irustees detèrmine is necessary to enable the preparation of
flnancial statemènts that are free from maierial missiatement. whether due to fraud or error.
In preparing the financial statements, the irustee5 are responsible for assessing the gioup and
parent charitable company's ability to continue as a going concern, disdosing, as applicable,
matters related ro going Concern and using the going concern basi5 of accounting unless the
trustees either iniend its liquidate the group or parent charitablo company or to cease operations, or
have no realistic alternativ¢ but to do so.
Audltor's responsibilltl•s for the audlt of the financial stat•m•nts
WÈ have beèn appointed as auditor under the Companies Act 2006 and section I S l of the CharitiÈs
Act 2011 and report in accordance with those Acts.
Our objectives are to obtain reasonable assurance about whether the financial 5tatemonts as a
whole are free from material misstatement, whether due to fraud or error, and to issue an audiior's
report that includes our opinion. Reasonable assurance is a high levèl of assurance, but is not a
guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material
misstilement when li exlsts. Misstatement5 can arise from fraud or eiror ahd are considered
material if. individually or in aggregate, they could reasonably be expected to influence ihe
economic decisions of users taken on the basis of these financial statement5.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We
design procedures in line with our responsibilities, outlined above, to deiecr material misstatements
in respect of irregularities, including fraud. The exteni to which our procedurés are capable of
detecting irregularities, including fraud Is detailèd belgw.
Page 29

NAMONAL CENT(IE FOR CIRCUS ARTS
STATUTORY ACCOuTr￿s
FOR THE YEAR ENDED 31 JULY 2021
Ind¢pend¢nt Audltors R•port to the Trustres of the Natloftil Centr• for Clrcus Art5
Audltor's rtsponslbllttles for the audli of the flnandal staoem¢nts l¢ontlnu•d)
Explanatlon as to what •xtent the audlt was onslder•d capable of d¢Q¢Ctlng Irrn9ulirltles,
Indudlng fraud
The objectives of our audit in Tespect of fraud. are., ro identify and a55e5S the risks of material
misstarement of the financial siaiemenrs due to fraud,. to obtain sufficient appropriate audit evidence
regarding the a5se&sed risk5 of material missrarement due to fraud, through designing and
implernenring appropriate responses tts those assessed risks,. and ro respond appropriately to
instance5 of fraud or suspecied fraud identified during the audit. However, the primary responsibility
for the prevention and detection of fraud re5t5 With both management and those charged with
governance of the charitablè company.
Our approach was a5 follows..
We obtained an undprstanding nf thp l•gal rpfjiilatnry refjiilr&.Me.nr% applicable to the
charitable company and considered that the most significant are rhe Companies Act 2006, the
Chwities Acr 201 I, Ihe Charity SORP. and UK financi￿ reporling 5tandatds as issued by the
Financial Reportinq Council
We obtained an understanding of how the charitable cornpany complies with these
requiremen15 by di5CU5510ns wirh management and those charged with governance.
We assessed the risk of material misstatement of rhe financial statements. including the risk of
Materi￿ misstatemeni due to fraud and how it might occur, by holding discus5ion5 Wlth
manaoement and those charaed with aovernance.
We inquired of manajement and Ih05e charged with governance as to any known instances of
non-compliance or suspected non-compliance with laws and reoulations.
Basod Dn this understanding, we designed specific appropriate audit procedure5 to identify
instances of non-compliante wth laws and regulations, This included making enquiries of
management and Ihose charged wirh governance and Obt￿nIng addition￿ corroborative
evidence as required.
There are inherent1imitations in the audit procedures destribed above. We are less likely to become
aware of insrance5 of non-compliance wirh laws and regulatlons that are not closely related to events
and transaction5 reflected in the financial statements. Also. the ¥isk of not detecting a material
155tatemÈnt due to fraud Is higher rhan the risk of not detecting one resulring from error, as fraud
may involve deliberate concealment bvt for example, forgery or intentional misrepreseniations, or
through collusion.
Use of oui report
Thls report is made solely to the charitable company's members. as a body, in accordance
Chapter 3 of Part 16 of the Companies Act 2006 and, in respect of Ihe consolidated financi
5tatemenrs, ro rhe charity's trustees, as a body, in accordance with Chapter 3 of Part 8 of the
Charities Act 2011. Our audit work has been undertaken so that we might state to Ihe charitable
company's members and trustees those matters which we required to srate to them in an
auditor'5 report and for no oiher purpose. To rhe fullest extent permitted by law. we do not accept
or assume responsibility to any party orhey than the charitable company, the (m￿ltable tompany's
members, as a body, and the charity'5 trustees, as a body, for our audit work, for this report. or for
the opinion we have formed.
Jiff*S Saynders FCCA OChA
for and on behalf of Moore Kingston Smith LLP, Statutory Auditor
Devor)5hire House
60 Goswell Road
London
ECIM 7AD
Date.. 25 November 2021

NATIONAL CENTRE FOR CIRCUS ARTS
STATUTORY ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2021
Consolidated Statement of Financial Activities for the year ended 31 July 2021
(including the income and expenditure account)
Unrestricted
funds
Restricted
funds
Total funds
2021
Total funds
2020
Notes
Income from..
Donaiions and Grants
Investments
Charitable activities
1,811,518
70
613.687
176,222
1 ,987,740
70
692.711
1 ,234,446
79.024
909.486
Other rrading activities
Income from Irading aciiviiies
and other receipts
106,687
106.687
553.110
Total income
2.531.962
255.246
2.787.208
2,697,050
Expen(1Sture on..
Charitable activities
Raising funds
Fundraising and Publicity
Commercial trading cost5
2,358,237
234,231
2,592,468
2,255,694
76,000
111,933
76.000
111.933
166,374
60.791
Total
2,546.170
234.231
2,780,401
2,482,859
Net Incomellexpendlturel
{14,2081
21,015
6,807
214.191
Transfer between funds
21,015
121,0151
Other ￿cOgnISed galns:
Tax credit
20
3,508
3,508
4,000
Net movement in funds
10.315
10,315
218.191
Reconciliation of funds
Total funds brought fotwar(J
644.960
2.852.427
3.497.387
3,279.166
Total funds carried forward
655,275
2,852,427
3,507,702
3,497,357
Page 31

NATION*1 CENTRE FOR CIRCU5 ART5
STATWORY ACCOUP¥
FOR THE YEAR ENDED 31 JULY 2021
Charlty Balance Sheet at 31 July 2021
Noles
2021
2020
Flxed ass•t$
Tangible asséts
Investments
208,086
200
205,862
200
206.286
206,062
D•btors
Amounts falling duè afttr
more than one year
Currnnt ass•ts
Stock
Debtors
C￿h at bank and In hand
3,140,092
3.140,092
4,351
324.440
611,055
4,901
342,383
782.334
939,846
1,129.618
Uabllltl
CieditOTS.' Amrwnts duè wlthln one
year
Net curr•nt lknbllltles
1801,373)
11,083,481)
138,473
46.137
Net assot$
3,486,851
3,392,291
Fund5
Restrlcted fund$
Unresirlcted funds
2,852,427
634.424
2,852,427
539.864
3.486,85 I
3,392.291
The fSnanclal statements were approved by the Board on 16 November 2021
and slgned on Its behalf by..
Allson Klng
Tru$tee
Kate Whlte
Accounting Officer
Company Number.. 02553293

NATIONAL CEl￿E FOR CIRCUS ART5
srATUTORY ACCOUNTS
FOR THE YE4R ENDED 31 JULY 2021
Consolldated Balance Sheet at 31 July 2021
Notes
2021
2020
Flxod assetj
Tangible a$5et5
3,325.879
3,323,655
Curr•nt ass•ts
Stock
Debtors
Cash at bank and Trn hand
4,376
211.796
676,434
4,901
240.119
832.098
892,606
1.077.11
U&bllltlqs
Creditors.. Amounts due within one
year
1710,7831
1903,4161
N•t Current 4ssetsl{Ilabl1￿iq1j
181,823
173,702
N•t assots
3,507,702
3.497,357
Funds
Restricted funds
Unresiricled funds
2,852,427
655,275
2.852,427
644,930
3.507,702
3,497,357
The financial statements were appioved by thè Board on 16 November 2021
and sign
d on its behalf by..
Alison King
Truste•
Kate White
Atcountable Officer
Company Number= 02553293
Pagg 33

NATIONAL CEKfRE FOR aRCUS ARTS
srATUTOKY ACCOUNT5
FOR THE YEAR ENDED 31 JULY 2021
Consolldated Statement of Cash Flows for the year ended
for the year end 31 July 2021
Reconclllatlon of not Incoma to net cash flty4V from op•ratlng attfviues
Z021
2020
Net income for the reporting period
Depretiatlon charges
Interest received
Decreaselllncreasel in stock
Decreasellincreasel in debtor5
Increase Ildecreasel in creditors
10,315
17,322
1701
525
28,323
1192.6031
218.191
17.908
{81
14.9011
14.6761
141.479
t cash provlded by op•ratlng •cUvltles
1136,1881
367.993
N¢t cash provld•d by op•ratlng a(thltl•s
1136,1881
367.993
Cash flows from Inv•stlng artfvlthi
Inrerest received
70
Purchase of tangiblé assets
119.5461
Net C4sh provlded byl(us•d In> In Inv•stln9 artivlties
119.4761
Change In ￿$h cash •qulvalents
IISS.6641
368,001
Cash and cash •qulval•nts at th• start of th• y•ar
832,098
464,097
Cash and rash equlvalonts at the end of the
676.434
832.098
Pag

National Centre for Circus Arts
Note5 to the Financial Statements
For the year ended 31 July 2021
I ACCOUNTING POLICIES
Charitable company status
The charity is a company limited by guarantee. The members of rhe company are rhe
Trustees as set out on page 3. In the event of the charity being wound up the liability on
repaying the guarantee 15 £1 O per member.
Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Financial Reporting
Standard applicable in the UK and Republic of Ireland IFRS 1021. The Charity is a public
benefit entity for rhe purposes of FRS 102 and therefore the consolidated financial
statements have been prepared in accordance with the Statement of Recommended Practice
applicable to charities preparing their accounts in accordance with the Financial Reporting
Standard applicable in the UK and Republic of Ireland ￿he FRS 102 Charity SORPI including
Update Bulletin 2, the Companies Act 2006 and the Charities Act 2011.
The results of the subsidiary entities are consolidaied on a line by line basis. A summary of
the results of the subsidiary entities is shown in Note 14. The functional currency of the
charity and its subsidiaries is sterling,. amounrs are rounded ro the nearest pound.
National Centre for Circus Arrs has taken advantage of the exemption in section 408 of the
Companies Act 2006 from disclosing its individual statement of financial activities. The
Charity only surplus Inet movement in fund51 was £24,5 10 12020.. 5urplu5 of £386,087).
Consolidation
The group accounts consolidate rhe accounts of National Cenrre for Circus Arrs and its
subsidiary undertakings, Circus Space Property Company Limited and Circus Space Events
Limited, made up to 31 July 202 1. The acquisition method of accounting ha5 been adopted.
Going Concern
The trusiees have assessed whether the use of the going concern basis is appropriate and
have considered possible event5 or condiiions that might casi significant doubi on the
ability of the charitable company to continue as a going concern. The trustees have made
this a55essment for a period of at least one year from the date of approval of the financial
statements. In particular the Trustees have considered the charitable group's forecast5 and
projections and have taken account of pressures on recreational course income and
commercial hire income in light of the impact of COVID-19. The chariiable company
accepted an offer of a £200,000 CBILS loan faciliiy of which £ 1000 had been drawn down at
the time of signing these accounts.After making enquiries the Trustees believe thar there is
no material uncertainiry that the charitable group will not continue to be a going concern
and have concluded thar there is reasonable expectarion that the charirable group has
adequate resources to continue in operational exisitance for the foreseeable future.
Income
Total incoming resources as shown in rhe Staiement of Financial Activities is the toral
income of the group. All inioming resources are included in the Statement of Financial
Activitie5 when the charity 15 entitled to the income, the receipt is probable, and the amount
can be measured reliably. The following specific policies are applied to particular categories
of income..
Charitable activities are accounted for in the period to which they relate. Investment income
is included on a receivable basis.
Page 35

Natlonal Centre for Clrcus Arts
Notes to the Flnanclal Statements
For the year ended 31 July 2021
I ACCOUNTING POUCIES (contlnued)
Donations, grants and legacie5 are included In full in ihe Statement of Financial Activities
when receivable. Grants received in advance for specified future periods or where
conditions are atiached to their use which remain outside the control of the charity are
carried forward as deferred income and released when conditions for entitlèmeni are
fulfilled.
Fees and other funding received towards the provision of iraining courses is recognised
vA)en the training is delivered. Income received in advance is deferred in the Balance Sheet
and then released ai rhe Doint ot deliverv of ihe related traininqleducational provision.
Exp•ndlture
Expenditure is accounted for on an accruals basis. Direci charitable expenditure includes all
osts related to the main purpose of National Centie for Circus Arts and include.. costs of
delivering the higher education course,. youih and aduli courses., and support io
professional artists.
Fundraising and publicity includes all direct expenditure on publicising the work of Narional
Centre for Circus Arts. Governance costs, which are included in the support Costs, include
those costs incurred in the yovernance of the charity and are primarily associated with
regulaiory requirem¢nts.
Staff costi and support costs
Staff costs and overhead expenses are allocatÈd to activities on the basis of staff time and
studio Space ustd on those activitie5.
Penslon costs
The charity operates a defined contrlbuiion scheme foi the benefit of ils employees.
Contributions payable ale charged to the Statement of Financial Activities in the year they
are payable.
Employ•• costs
The costs of short-term employeè btnefiis are recognisod as a liabillty and an expense. The
Cost of any unused holiday entitlement is recognised in the perlod In which the associated
employee'5 service5 arq received. Termination benefits are recognised immèdlately as an
expense when rhe charity is demonstrably committéd to terminate the employmeni of an
employee or to provlde termlnation benefits.
Tanglbl• fixed ass•ts and d•pr*da￿On
All fixed a55ets are stated ai cost.
Depreciation is provided ar the following annual rates Sn order to write off each asset over
Plant and Equipmeni
Assets with a value of less than £l,QOO are written off in the financial statements in thè
period of purchase. Leasehold propèrty has been capitalised and included in fixed asseis at
tost. On i 9th March 2021, a professional valuatlon was undertaken by Pinders Professional
& Consultan(v Services Limited, giving a current market valué of £8,350,000, This support5
the view that the residual value of the building is not considered to be lower than its
current carrying value in the accounts which is £3,256,667. On that basks, no further
depreciation ha5 been provided since that date. The property is reviewed annually for any
potential impairment.

Natlonal Centre for Circus Arts
Notes to the Flnanclal Statements
For the year ended 31 July 2021
I ACCOUTrflNG POUCIES Iconilnuedl
Stock
Stock is valued at the lower of cogi and net reallsablè value.
Restrlcted funds
Restritted funds aré to be used for specified purpose5 as laid down by the donor.
Unr•strlct•d funds
Unrestricted funds are donations and other incoming resources received or gèneraièd for
the charitie5 general purposes.
T￿atIoN
The company is a registered charity and is not liable to Unitèd Kingdom income or
corporation tax on its charltable activitie5. Tax credits claimed under the theatre tax relief
scheme are shown as a credit in the year to which it relates.
Grants
Government and local authority grants for the purchase of fixed assets are credited to
restricted incoming resources when receivable. Provided rheie are no remaining restrictions
on the use of the capital a55el, the grant 15 released to unrestricled income when the asset
is acquired as this fulfils the restriction placed by the dontsr on the use of the grant. Grant5
of a revenue nature are credited to incoming re50urees in the period in which they are
receivable.
Op•ratlng l•as• commltment
Rentals payable under operating leases are charged against income on a straight line basi5
over ihe lease term.
Flnandal Instruments
Cash and cash equlvalent5
Cash and cash equivalents include cash at banks and in hand and short term deposits with
a maiurity dale of three months or less.
Debtors and creditors
Debtors and crediiors reeeivable or payable within one year of ihe reporting date are
carried at their transaction price. Débtor5 and creditors that are receivable or payable in
more than one year and not subject to a market rate of inierest are measured at the
present value of the expected fuiure receipis or payment discounted at a market rate of
interest.
Fixed asset invesrment5
Interests in Subsidiaries are initially measured at cost and subsequently measured at cosi
less any accumulated impairment 10$5es. The invesrmenis are assessed foi impairmeni ai
each reporting date and any impairment losses or reversals of impalrmÈnt losse5 are
reeognised immediately in ihè SOFA.
The tharity has provided a long term loan to its subsidiary company Circus Space Property
Company Lirnited. The loan meets the definiiion of a public benefit *niity conce55ionary
loan and as such is accounted for at amortised eost and reviewed annually for impairment.
Page 37

Natlonal Centre for Clrcus Arts
Notes to the Nnanclal Statements
For the year ended 31 July 2021
2 CRITICAL ACCOUNTING EsfiMATES AND JUDGEMENTS Icontlnu¢dl
In Éhe application of the company's accounting policies, the Tru51ees are required to make
judgements, estimates and assumptlons aboui the carrying amount of as5et5 and liabilitios
that are not readily apparent from oiher sources. The estlmates and associated
assumptions are based on historical experience and other factor5 thai are considered to be
relevant. Actual results may differ from these estimates.
Thq esrimates and iindprlyin J a*%iimptlfinS hrp rpvi*we.d an on-going basis. Revisions lo
accounting estimate5 are rttognised in ihe period in which the estimate is revised, if the
revision affects only that ppriod. or in the period of the revision and future periods if th*
revision affects both current and fuiure periods. The estimates and a$5umption5 which have
a significant risk of causing a material adjustment to the carrying amount of assets and
liabilities are outlined below.
The estimates and assurnptions whlch havè a significant risk of causing a material
adlusimeni to the carrying amount of assets and liabilitigs are outlined below.
Useful •wngmlc Ilves
The annual depreciation charge for property. plant and equipment 15 sensitive to changes in
the estimated usèful economic lives and residual values of the assets. T17e useful economic
lives and residual values are re-assessed annually. They arè amended when necessary to
reflect current e5timate5. based on technological advancement. fuiure investments.
economic utilisation and thé physical condition of the assets. See noie 13 for the carrying
amount of the property, plant and equlpmeni and note I for the useful economic lives for
each cla55 of assei.
3 CRANTS
The group received financial assistance from various funders as follows=
2021
Unr•StrIct￿ Rasirlct•d
Total
Arts Councll England
CoTonaviru5 Job Reteniion Scheme
Conseryatoire for Dance & Drama
Jack Petchy Foundation
Je￿ood
Leverhulme Trust
Centre for Advanced Training ICAn
Sensory Circu5
Sundry donations
1.187.157
270,326
338,439
250
1,181 157
270.326
359.454
750
15,855
50,987
78,865
g,000
21,346
21,015
500
15,855
50,987
78,865
9,000
21,346
1.811.518
176,222 1,987,740

Natlonal Centre for Clrcus Arts
Note5 to the Flnanclal Statements
For the year ended 31 July 2021
3 GRApifs (contlnu￿j
2020
Unr•strfctod
Rostrlctad
2,500
Arsenal Foundaiion
Arts Countil Értgland
Allen & Overy
BBC Children In Need
Chapman Trust
Coronavirus Job Rtttntion Stheme
Conservatoiré foi Dance & Drama
Contemporary Dante School (London)
Garfield Weston
Jack Petchy Foundation
Jerwood
Katherine Roberts & Friend5 Bursary Award5
Leverhulme Trust
Rayne Trust
Teale Charitable Trust
Thistle Trust
Sundry donations
2,500
545,43S
5.000
2.000
2,000
221,440
262,429
87,404
20.000
750
11.445
400
34,570
2,000
6,000
2,000
29,073
545.43S
5,000
2,000
2,000
221,440
206.792
55,637
87,404
7,840
500
11,445
400
34,570
2,000
6,000
2.000
1.009
12,160
250
28,064
1,016,141
218,305 1,234,446
4 INCOME FROM CHAK￿ABLE A￿1V￿E5
2021
2020
Fees ftom UK and International higher edutation sludents
Audltlon and other fees
Artists Development Income
Short Course income
640.671
3,541
5,972
42.527
598.157
21,704
20,433
269, 192
fj92.711
909,486
S HIGHER EDUCATION FUNDING
The degree income figuie excludes fundlng receivable in the form of teaching grants from
Ofs through the ConseNatolre for Dance and Drama'.-
2021
2020
Contribution5 from CDD Isee note 31
338,439
189,437
Page 39

Natlonal C•ntr• for Clicus Arts
Note5 to the Flnanclal Statements
For the year ended 31 July 2021
6 OThEK TKADING AcrwrriES
Income from other irading activities and other recelpts
2021
2020
Workspace and loom hlre
Classes. cour5e5 and workshops
Other income
100,039
4,530
519,513
25.9g6
7,601
106,687
553.110
7 DIREcf CHARrrABLE EXPENDITURE
Year ended 31 Juty 2021
Total
Funds
Dlr•cr costs Support costs
Artists Development
Higher Educatlon
Participation and Outreach
Trainlng
44.424
674,316
$15,227
59,802
269,846
314.270
677,439 1,351,755
383,029
898.256
156.318
216,120
1.486,632 2,780,401
1,293,769
The significant reduction In Charltable and Other Trading Activitie5 in the year as a direct
consequence of the Covid pandemic left the remaining activities. e.g. Hioher Education, carrying a
much greater proportion of the Support Costs. In addition. Support Costs themselves were inflated
by a material element of Covid grants belng expensed against recovery initiative5 togeihèr wilh
furloughed wages and salaries.

Natlonal Centre for Clrcus Arts
Notes to the Flnanclal Statements
For the year ended 31 July 2021
7 DIRE￿ CHAR￿ABLE LXPENDrruiiE <wntlnu•d)
Year ended 31 July 2020
Dlr•ct
Support
eosts
cottx
Total Funds
Artists Development
Higher Education
Participation and Outreach
Training
45,515
690,759
439,480
100.353
1,276.107
177.007
335.083
382.919
84.578
979.587
222,522
1.025,842
822,399
184,931
2,255,694
8 SUPPORT cosrs AND ADMINlfPATION
Year onded 31 July 2021
GovemarKe Admlnlstration
Opiratlons
Tot41
Artists Development
Higher Education
Access, Outreach
& Educational
Corporaiè actlvlty
Training
2,525
28,278
20,313
227.519
2.S6S
28.734
244.443
392.908
269,846
677,439
383,029
24,852
187,224
25,252
145.701
6,749
7,027
54,299
56,534
6,857
7,140
16.477
1,235
84,382
71,936
69,431
S45.889
70.548
800.764
1,486,632
Yèar •nded 31 July 2020
Gwm4nc• Admlnlstratlon
IT
Operatlons
T+xal
Artists Development
Higher Education
Acce55, Outreach
& Educational
Corpor3te activity
Training
676
32,454
3,629
174.17fj
506
24.282
172.196
104,171
177.007
335,083
39,216
210,463
29.341
103.899
382,919
64.245
20,333
2,028
2,705
10,886
14,515
1,518
2,024
49.813
1,089
77.079
413,669
57,671
431,168
979.587
9 FUNDRAISING AND PUBLICtrf
2021
2020
Fundraising and Publlclty
76,000
166.374
Page 41

Natlonal Centre for Circus Arts
Notes to th• Flnanclal Statements
For the year ended 31 July 2021
10 COVERTrWICE cosrs
2021
2020
Bank and othÈr flnance charges
Audit fee5
Staff costs
4,873
20,025
44,533
8.255
18.100
50,724
69,431
77,079
1 I MEf INCOME
Nei income is stated after charging..
2021
2020
Depreciation of tangible fixed assets
Operating lease renials
Auditor's remuneration
17,322
67,500
20,025
17,908
38,500
18.100
12 sfAFF COSTS
2021
2020
Wages and salarie5
Social security c¢J5ts
Pen510
Redundancy
1 ,563,888
120,041
29,038
1,685,820
124,110
29,110
4,500
1.712,967
1,843.540
The average monihly numbèr of employees during the period wa5 as
follows..
Tutors
Administration
2021
2020
No.
67
46
67
41
108
The average monthly number of employees include5 a hlgh number of part time staff,
pariicularly among highly specialised leaching disciplines. The full time equivalents are=
No.
No.
Tutors
Administration
39
39
49
48
The followlng number of employees rèceived salaries in excess of £60,000".
2021
No.
2020
No.
£70,000 £80,000
Pension Contributions for the abovè employee was £1,316 12020: £1 ,3141.
PaE

Natlonal Centre for Clrcus Arts
Notes to the Flnanclal Statements
For the year ended 31 July 2021
12 sfAFF COSTS Icontlnu¢d)
The National Centre for Circus Arts considers the Board of Trustees, the CEO, the COO. the
Commerclal Director and ihe Direcior of Professional Development as comprising the key
management personnel of ihe charity. The total employment benefits for the six12020'. 5ixI key
managemont personnel was £280,44412020'. £289,823).
13 TANGIBLE ASSErs
Group
Improvem•nts
to L•a>ehold
Premlses
Plant
& Equlpm•nt
Total
Cost
At l August 2020
Additions
Oisposals
4,135.241
19,546
142,103
4.277,344
19,546
At 31 July 2021
4,154,787
142,103
4,296,890
Depr•cl*tlo
At l August 2020
Charge for the period
Disposals
894.998
3.112
58.691
14.210
953,689
7,322
At 31 July 2021
898,110
72,901
971,011
N•t Book Value
At 31 July 2021
3,256,677
69,202
3,325,879
At l August 2020
3.240,243
83,412
3,323,655
The Arts Council England and Tho London Borough of frtackney hold various charges over the
property and assets of one of the Charity's subsidiaries, Circus Space Propèrty Limited.
The Art5 Council England holds a debenture for any monles duè to them Secured over the
Investments and securities of the charity.
Pago 43

Natlonal Centre for Clrcus Arts
Notes to thq Flnanclal 5taternents
For the year ended 31 July 2021
13 TANGIBLE ASSEfs (contlnuedl
Ch4rlty
Improvom•nts Plant &
to Laasehold Equlprnint
Prernlse$
2020 Total
Cojt
At I August 2020
Addiiions
Disposals
136.055
19,546
142,103
278,158
19,S46
At 31 July 2021
D•prqdatlon
At l August 2020
Charge for the period
Disposals
155.601
142,103
297,704
13,605
3,112
58,691
14,210
72.296
17.322
At 31 July 2021
16,717
72.901
89,618
Net Book Value
At 31 July 2021
138,884
69.202
208,086
At l August 2020
122.450
83,412
20S.862
14 FIXED ASSEf INVESTMEKrs
Charlry
2021
Inve$tm•nt In subsldlarl¢s
Cost
Ai l August 2020
Addition5
200
At 31 July 2021
Net Book Valu•
At 31 july 2021
200
200
At l August 2020
200
The National Contre for Circus Arts has Mo wholly owned trading subsidiaries.. Circus Space
Events Company LlmSted, which run5 commercial events. and Circus Space Property Limited
which owns ihe leasehold of the Coronel Street site and ients ihe majority of the space to
National Centre for Circu5 Arts with smaller areas to third parties. These companies donate
theii distributable profit5 to National Centre for Circus Arts. The registered offices of both
subsidiaries is Coronet sirèet, London. A summary of their trading results is shown below.
Audited financial 5tatemenig for these 5ub5idiarie5 ale filld annually with the Registrar of
Companies.
P¥[

Natlonal Centro for Clrcus Arts
Note5 to the Flnanclal Statements
For the year ended 51 July 2021
14 FIXED INVEsfMEPU5 Icontlnu
Clrcus Sp•c• Eveiits Company Llmlted re$41ts
2021
2020
Proflt lois
Turnover
Administrative Expenses
Operating profit
354
430.632
153.964
3 76,668
12.8611
Proflt and lo$$ reser
Brought forward at l August 2020
Operating profit
Di5triburion to Nation￿ Centre for Circus Arts
Carried forward at 31 July 2021
26,668
12.8611
126.6681
12 8611
205,401
376,668
1555.4011
Baknce She•t
2021
2020
Debtors
Cash at bank and in hand
40,477
19.862
22.424
42.286
89.192
Creditors.. amounts
f￿ling due wthin one
191 9531
(15.5181
Net currenr ￿$t1$
Capiral and reserves
Called up share capital
12,8611
100
26.668
100
Total Equity
cl￿￿$ Spa¢e Pmp¢rty UM1t￿ results
1021
20ZO
Profft Ind loss
Turnover
Admlnisrrative Expenses
Operating profit
Tox credit
Profit for the financiaj year
99.685
189 7401
9,945
147.082
106.423
40.659
11.2041
39.455
9.945
Profft and loss res•r¥•
Brought forward at l August 2020
Operating profir
Distribution to the National Centre for Circus Art5
Carried forward at 31 JL41y 2021
78,502
9,945
39.7871
48.660
67.668
39.455
28 6211
78,502
Paga 45

Natlonal Centre for Clrcus Arts
Not•5 to the Flnanclal Statements
For the year ended 31 July 2021
14 FIXED Ass￿ INVESTMENTS <contlnuedl
Clr¢us Spaco Property LIMIt￿ rnsylts (contlnu•dl
Oalanco Sheet:
zoii
2020
Tangible fixed asseis
3.117,790
3,117,790
3,117,790
3.117.790
Debtors
Cash at bank and in hand
25 8.064
210.285
27.340
237,625
274,728
Creditor5.' amounts
falling due within one
vear
1203,6661
1136.7211
Net current a$5ets
71,062
100,904
Creditors." amounts falling due
after more than one vear
13.140,0921
13.140,092)
Net assets
Capital and reserves
Called up share capital
Tota1 Equity
48,660
100
78.502
100
I S DEBTORS
2021
2020
Gmp
Charlty
Grnup
Charfty
Trade debtors
Amounts owed by sub5idlaries
Qther debrors
Prepayments and accrued
income
7.918
5.369
108,910
33,561
19,191
8,787
112,543
52.914
33,561
52,789
170,317
176,600
168,139
168.139
211,796
324,440
240.119
342,383

Natlonal Centre for Clrcus Arts
Notes to the Flnanclal Statements
For the year ended 31 July 2021
16 1)EBTO#S'. Amounts Due aft•r mor• than on• y4ar
2Q21
2020
Group
Charlty
Gmup
Charliy
Amounts owed by 5ubsidiarv
undertakings
3,140,092
3.140.092
The long term loan has been provided to the subsidiary company Circus Space Property Company
Limited and meets the definition of a public benefir entity coThce55ionary loan as it was made to
further the charitable objects of the ch￿1￿. The loan is interest free. At present a repayment
schedule ha5 not been decided.
17 CREDITORS.. Amounts falllng due withln othe year
2021
2020
Group
Chirlty
Group
Charlty
Trade creditors
Socia security and taxes
Other creditor5
Accruals and
deferred income lil
Arnounts owed to subsidiaries
101,691
60,661
22.028
48,696
31.819
6,004
82,478
132,717
78,828
48,469
129.322
54.241
526.403
471.229
243,625
609,393
597.768
253,681
710,783
801.373
903,416
1 ,083,481
D•f•N•d Income r•conclllatlon <0
Deferred income in 2021 includes fees for course5 and grant incorne relating to the next
Brought
fo￿ard
Added
amount
Arn￿nt
rn1¢4s•d
Carrl•d
ftlrnard
Oeferred income 2021
422,307
196,358
(422.30n
196,358
Deferred income 2020
369.632
422,307
1369,6321
422,307
Palle 47

Natlonal Centre for c1￿u5 Arts
Notes to the Flnanclal Staioments
For the year ended 31 July 2021
18 RESTRicfED FU14DS
Group
The funds of the thariry include re5tflcted fund5 comprlsing the following unexpended
balances of donatlons and grants held on Iru5t to be applled for specific purposes..
Balaftc•
l August
2020
Bilanr•
EXpK￿llura Trnnsf•rs JI Juty
2021
Incorn•
Capltal Fund
Bulldlng Developmeni
Hackney sUst￿nable grant
GÈn*Atlon Fund
Centre of Advanced Traini
Sensory Circus
Conservatolre for
Dance & Drarna
Jack Peichy Foundation
Jerwood
Leverhulrne Trust
2,850,427
2,000
21,015
121,0151 2,850,427
2,000
78,865
9,000
178,8651
19,0001
79,024
179.0241
500
15,855
50,987
15001
150,9871
2.852.427
255,246
1234,2311
121,07 51 2,852,427
18 RESTRicfED FUN05 {contlnuedl
Oakn
l August
2019
Balanc•
31 July
2020
In<om*
Expandltrjre Trnnsfers
CApltal Fund
Building Development
Hackney sustainable grant
Generatlon Fund
Arsenal Foundation
Allen & Overy
BBC Children in Need
Conservaioire for
Contemporary
Garfield Weston
lack Petchy Foundation
JeTwood
Katherine Roberts
2,850,427
2,000
12.614
112.6141 2,850,427
2,000
2,500
5,000
2,000
55.637
74,790
7,840
500
11,445
400
12,5001
15,0001
12,0001
155,6371
174,7901
17,8401
15001
111,4451
14001
134.5701
12,0001
16,0001
12,0001
11,0091
Leverhulme Trust
Rayne Tru51
Teale Charltable Trust
Thistle Trust
Small donations
34,570
2,000
6,000
2,000
1,009
2.852,427
218,305
1205,6911
112,6141 2,852,427

Natlonal Centre for Clrcus Arts
Notes to the Flnanclal Statements
For the year ended 31 July 2021
18 AEsTricfED FUNDS (¢on¢inued)
G￿era¢lOn Fund
The Generatlor) Fund represent5 monies received from variou5 donors For discreet projects
within Circus Development, Participation and Outreach and to support student learning,
Transfers
Transfers from the capltal fund to general fund$ sn 2021 represent the re-allocatjon of
amounts received under restricted donations to covÈr small scale capltal Spending in 2020 and
2021. By Utilising the funds for this purpose the iestrirtions on the donations have been met
and the Fund5 have therefore been released. The depreciaiion relating to these assets wlll be
rharged to the general fund over the life of the a55et in line with depreciation rate5 Set out in
No¢e I to the account5.
19 RELATED PAKtYTRANSAcnoNS
During the year the Cha￿ty,5 trading subsidiary dlstributed their profits to the National Centre
for Circus Arts, see note 14 for further details.
National Centre for Circu5 Arts reimbursed salary and other expenses of £nil 12020.. £47,000)
to It5 subsldiary, Circus Space Events ￿Mited during the year. At year end, £6B,138 12020..
£S8,743 (Jwed tol wa5 Outstanding and is included within Natlonal Centre for Circus Arts
debtors.
A managemeni fee of £40,772 12020.. £38,5001 was charged from National Centre for Circus
Arts to Cirtus Space Property Llmit2d during the year. Other expenses totalling £59,750
IZ020." £53,800) were reimbursed durlng the year. At year end. £243,625 12020.. £199,881)
wa5 payable and included with Natioral Centre for Circus Arrs creditors.
Four tru5tees12020'. one) were reimbursed £2312020.f 681 for travel expenses durlng the
year.
2021
2020
Total donatlons from trustees withtsur conditions
1,925
10,325
20 THEATrE TAX REUEF CLAM
2021
2020
Tax credit In respect of theatre tax relief claim
3,508
4.000
21 ANALYSIS OF ￿￿E[S BY FUND
Group
2021
Unr¢stri¢ted Restrlctsd
Funds
Funds
Totsl
Funds
Tangible Assets
Net Current AssetsllLlabilitie51
475.452 2.850,427 3.325,879
179,823
2,000 181,823
655,275 2,852,427 3,507.702
Pago 49

Natlonal Centre for Clrcus Arts
Note5 to the Flnanclal Statement5
For the year ended 31 July 2021
21 *JIALYSIS OF NEfAs5￿ BY FUND Icontlnued)
2020
Unresthcmd R•5trlcred
Funds
Funds
Tottl
Funds
Tangible Assets
Net Current AssetsllLlabilitiesl
473.228 2.850,427 3.323,655
171,702
2,000 173,702
644.930 2.852.427 3.497,357
Charlty
2021
Unre5tr1cted Resirla•d
F￿d5
Funds
Tptsl
Funds
Tangible Assets
DebtDrs greater than one year
Net Current A55etsllLiabilltiesl
208,286
208.286
289,665 2,850.427 3.140,092
36.473
2.000 138,473
634,424 2,852,427 3.486,851
2020
Unr•strlrted RE5trtrtod
Funds
Funds
Funds
Tangible Asset5
Debtor5 greater than one year
Net Current A55et511Liabllltlesl
206.062
206.062
289.665 2,850,427 3,140,092
44.137
2,000
46.137
539.864 2,852,427 3.392.291
22 FINANCIAL COMMfNEfrrrs
At 31 st July 2021 the group held a one hundred and twenty slx year lease on Its Coronet Street
site and wa5 committed to making quarterly payments under th15 non-cancellable oper3tin9
lease. These payrTTrent5 did total £38,$00 in the year to 31 st July 2021. The rent review was
due in July 2019, this rent review has now been finali5ed and as such the rent payable has
increèsed ro £48,684. The backdated increase has been appropriately accrued for in the
accounts
P¥g8 50