Company Number. 2932622
R8gistèred Charity Number 1040286
ELMHURST BALLET SCHOOL TRUST
IA CHARITABLE COMPANY UMITED BY GUARANTEE}
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 AUGUST 2021

ELMHURST BALLET SCHOOL TRUST
REPORT OF THE GOVERNORS
FOR THE Y&4R ENDED 31 August 2021
The Governors presentth&rannual report and the financial ststernentsofElmhurslBallet SchoolTruslforlhe yearended 31
August 2021 and confim that the latter compty ¥￿th the requiremgnts of the Companies Act 2006, the Company's
Mernorandum and Artides of Assooab"on and the Charities SORP IFRS1021-
REFERENCE AND ADMINISTrATEVE DETAILS
The School is a charitable company Inco￿ordIed in 1994. wth tho liaiNIty of its membe¥s limiled lo £18ach by guarantee.
Charity number.
1040286
Company number
2932622
Principal and
Registered Offic6'.
249 Bristol Road. Edgbaston, BirmiThJham. B5 7UH
Director
The Govemors a￿ appointed by thè Board and are the tHrèctors of the Company and the Trust885 of the Charfty. Tho8e
serving in th8 year and 8ince are as follows:
J A HaThis IChaimian}
T J Abbotts (Resigned 16 November 20211
M P Baldwn IAppointed 4 June 2020)
J Bryson
S Butler
K Cariwrighl (Appointed 21 Febru8ry 20221
P Ch8slerman
S Evans
J Hardy (Ap￿)Inted 21 February 20221
D Howard (Resigned 19 Septemb8r 20211
B L8WEence (Appointed 17 November 20201
A L Matthgws
Piper (Resigned 15 November 2020)
D L Wallis (Resigned 7 August 20211
M Wyon
Key Executtve8 and Prof•sslonal Advisers
Prinupal..
JAWard
Director of Finance and Operations:
L J Caddick
Bankers..
Lloyds Bank plc. Queens SouaTr, WolvertHmpton. PO Box 1(XKJ, BXI 1LT
Auditors-.
RSM UKAudit LLP, Rivenmead House, 7 Lewis CcMJ¢ Grove Path. Lwcester, LE19 1S0
Invèstsnent Managew3'.
EFG Harris Allday. 33 Great Chartes StreeL 8im)ingham, B3
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing Document
The company is govemed by its Memordndum and AJticJ8s of AwK¥ation, last amended on 8 March 2005.
Governlng Btxly
The Dirfjclors, who are also required underth8 Artides to serve as membws of the Company. are electeij at a full Directors,
Meeting on the ba$1$ of nominations recetved from 8￿Sting Directors conceming trligibility, personal competence, specialist
skills and local availability. New Govemors are induthd into theworkirpJsofthe Charity8rKI the School. indud1￿￿ Board policy
and proced*Jres, at an indijction rneeting which takes pl3ce prior to the first ￿11 Board Meeting. All Govemors are also
encourdged lo attend approprtaltr trainiru and to serve on al least ofthe sch￿I.s sub-¢omm5ttees.

ELMHURST BALLET SCHOOL TRUST
REPORT OF THE GOVERNORS
FOR THE YEAR ENDED 31 August 2021
Group Structur& and Relationshlps
The charity is incorporated as a company limited by guarantee and its operations are govemed by its MemoTandum and
Articles ofAssociation. The Memorandum andArticles ofAss(Kiation imptsse testricbons overthe incomeand propertyofthe
ompany which are to be applied solely Iow8rds lh8 promotion of the companls objects and not distributed by Vfdy of
dividend. bonus or otherwise lo the mgmbèrs. The member's liability on wn(Jing up is lirntted lo £1.
Elmhurst Enterprises Llmited. awholly 0¥￿ed subsidiary. was formed in21)02 and commenced tradryon 1 September2004.
Its resttlls, assèts and liabilities a￿ consolidated into these accounts on a lir* by line basis.
Rlsk Management
The Board of Govemors of Elfflhurst is ￿S￿InSible for the management of the risks fawl by the Sch(x)t in line the
School's Risk Management Policy. Detailed considerations of risk delegated to the Finan￿. Facilthes and General
Purposes Sul￿comMIttee ofthe main Board, are assisteil by th8SeniorLeadership Team. Risks are identified, assessed
8nd controls established for monitorin9 duTir¥J the year. A fomial wew of Ihe charitys risk manag8mgnt processes is
undertaken on an annual basis and all su1￿Comm[lIeeS are required to annualty on the management of the risk
assocAated with their particular area of govemance.
The kgy controls used by the charity indude.'-
Fomial agendas for all Board and sulTrcommTttee
Explicit Tems of Reference for all Su1￿{%)mMitteeS',
Comprehensive planning, budgebng and manwJemgnt 8¢wunting:
EslatAished organisational slnjctures and lines of repor11￿..
Formal %witten policies,.
Clear authorisation and approval levels".
Clgar staff recxuitment poliues. accordiThJ to best pYac￿, prottttion of our students.
Clearly. checks and syslerns can only provide rgasonable but not absolute assurance. ThrO￿Jh the risk management
processes initiated by Elmhurst. howevèr. the Govemors a￿ satisfied thatthe majorrisks have besn identified and rneasures
taken to appropriately mitrJala the risk as necessary.
Thg Govemors considerthemajorrisk lobe the impactof theglobal finarKaal ma￿eland the Un￿rtaInl￿88 around BreXItc￿U1d
iesLtrIt in changesto Govemmenl funding p￿1¢yand coft*deraNygwlerdifficutyinacce&wng prTrvatefvtxliThJ. ThtrfOlto￿&on
effect ofthis may be inwffiryenl numbers of sludents attending the S(*ool.
OPJECTIVES AND AcTIV￿lEs FOR THE PUBUC BENEFIT
The Charitys Objects, as set out in its Mèmornndum and Artides of Asgxiation, 8re tho 8dvan¢wMent of oducalion,
particulady bul not exdu5iV91y. vrith èn empha&s on inslnjcb'on in the perfomiru arts, including the promsion of boarfling
andlor day8chooling forcthildren of both sexe& Wittiin these objects. the Charityalso hastOaqUbP, fumish. fitupand maifttain
the building$ and lo award prizes. bursaries and sChola￿lpS to students as felevant.
The School is supported by the Govemmtrnys Music and Dance Scheme and the Dance arKI Draffl3 Award. both of which
enablegifted young dancers from families of limited financjal means lo benefftfrom a 1￿MId-￿a$S dan￿eduCat0￿
through the provision of fundèd places. The onlyvrdy forstudents to enterth8 Sthool 1$ by audition- this engjresthattalenl
alone gives acoess to the School. The govemment-fvnded places are SUp￿eMented by scholarships and bursaries from
commer¢¢ and private donations. Additionally, places 8reoffer8(l atfvll fees. provided that theapplicantisjudged tohavethe
poten￿al tr) succeed as a cla￿cal bal￿1 dancer.
The Govemorsconfirn ihaL toth$ bgstoftheir kno• and belief. they have c¢Jmpligdvth S8cbon 17 ofthe Charib8sA¢t
2011 in resp8cI to having dtte rtyard to pU￿1C Benefft Guidance published by the Charity C(Mmm1￿0￿.
AIMS AND INTENDED IMPACT
Elmhurst Balletschool, in Ass(￿latiOnvnth Birmingham Royal 8alleL is committed to the innovative, world-lgadlng ￿lUcation
of talented. passionate and committed young ball&t dancers. regardless of Iheir financial ¢ircum*anw.
The vision of Elmhurst Ballet Sd)ool is to shape the education and training of yourrfJ dancers. We woth intemally to Smprove
practice and wilh otherorganisations nationallyand Internationalty￿)ss1h￿darte sectorlo improvelhe OLrt¢x)rnesforyoung
people oNJ89&l In dance trainiro at tt4s level.
The school aims to ￿jP[￿ siudents in pryaring fr>r wOfess￿l life as a dan￿r arKI secure employment on grJdu8ti0n.
It makes this prowson in dosè asswattl￿ vAth Bim)ingham Royal BalleL The links wth the Company develop yearon yeèr
and ther8 8re opportunthes for all students to eTrJagey￿th the c4Jmp8ny in somèway. Govemorsand Staff haveworked hard
to achigve rg¢ognition ofthe benefit the SchcK)I brings to BirTningham and Ihe West Mitllands, arbstic profile.

ELMHURST BALLET SCHOOL TRUST
REPORT OF THE GOVERNORS
FOR THE YEAR ENDED 31 AUGUST 2021
OBJECTIVES FOR THE YEAR
These objgctives are set out in the Sc￿￿11 DevdopTr￿1 Plan 2017-2022.
Student Outcomes
Improvg and sustain high level of student Outco￿ %thich d8morthle rryre5S.
Dance
1(X)% of Graduates enter dance related emplO￿￿t or dance related trainI￿eduCation within 6 months
of graduation.
80% of Graduates enterdance ￿lated employment wthin 6 months of graduating (Rotling 3 year averago)
100% Trinity Course Pass rate- Level S and Level 6 tjplorn
Increase the number of students achieviry g¢yxl or bettw in their bal￿t appraisal outcome.
Acad¢mie
Academic.. 85% 5 4-9 at GCSE indiJ¢JirvJ Malhs & Engfish IRollirrfJ 3 yeaf average)
35% 7-9 8tGCSE
1000/• A-E at A Level
65% A'_C at A Lev
Quality of Tèachlng & Leamlng
100 /0 of lessons delivered at EIMhu￿ arg good or OLrtstandiro.
Teaching is innovative, drffefentiated. demands h¢gh expectations of students and is consistgnt in Its dolivery.
Students are encouraged to take ownership of their ovm leaming.
Quallty of Studgnts. P•rsonal Dévelopment, Boardlng, Health and Wellbeing
Ensure the highest standards of heaf(h, iM)arding and wellbeing for students indudiThJ a reduction in injury rates.
Further strengthen and develop link$ parents.
Continue to develop a coordinated approad) to ensure &udents' personal 8n(I profe￿Onal development.
Quallty of Leadership, Management and G0￿Man¢8
Develop the Elmhufst brand and raise the School's profile localty, nalionalty arKI intémationalty.
Develop the Assoaation with Birmingham Royal Ballet to wrytive lh& offèr to all thdents.
Recruit, retsin and develop the hwJhest qualty stsff.
Develop Leadership Capacity 8t 811 Levels.
Recruit and r&tsin thè highest quality thd￿ls to targel sbjdent numbws of 1￿ (main sclM)oll and 150 {Elmhurst
Young Dancers Programme).
Increase the Fwportion of students rstsingd at the end of each key staJe.
Ensure the highest qualrty of Gov&mance.
To ensure the conb.nued financial seojrity of the Scho￿.
Ma￿MIse and develop the School's outstandirwj faiylths.
STRATEGIES TO ACHIEVE THE YEAR'S OBJECnVES
Continue lodevelop and emb8d thè LNe. Dance. Leam slrategy engjring ihal indNKIua￿tyIsnU￿I•I In 811 ElmhuTrt
students.
Continue tofocus on th8qualtyof teachirvJ, leamirwJ and asS&￿entaCrOSSthe curriujlumtoensurethehiqhesiof
standards are met
U8e evidence bosed practic& and ￿searCh to infomi our review ofthe curriculurn arKI health and wellbtring off8r.
Develop the use of assessment data lo hglp studgnts pr(Na￿sS in all aspects of School lrfe.
Embed the Pro9￿sS Leader roles to fetain and gJppKYt the students at each key stage.
Develop th8 rnenloring pr(¥Jrams on offer to ensu￿ students are ￿11 SUPFM)rted at eath transition wint in their
School life and to ensure thg Grdduatès have one to one support in their bid lo secure employm&nL
Ensu￿ that a good range of dance profesgonals %bYyk st￿ents on a ratYJe of subjects both in and out ofthe
studio and classrLM)m to support students understanding of thts professM)n and their place within rt.
Continue lo ernbed sslf41eath management strategies to sup￿￿ the'Live' strakn suprK)thng young 118noors in
being as healthy as they be.
Further the recruitment strat￿Y to increa88 St￿lent nurn￿rs.
Fostsrstud8nt independence and involvementwth th8 strateg1cdl￿￿0Th0f thg SdKX)l ¥Aa Ihe studentleaders. and
School counciLs.
Reflect on and monf(or the high quality tK>arding offerto ensure Ihat the School goes beyond comp15arKe.

ELMHURST BALLET SCHOOL TRUST
REPORT OF THE GOVERNORS
FOR THE YEAR ENDED 31 AUGUST 2021
STRATEGIES TO ACHIEVE THE YEAR'S OBJECTIVES {c<>ntinu•dl
Embed the new Developmentteam to support all [￿jitment and fvndraising activityto build a gAJStalnable fvnd for
sludenl bursaries and to fund the ft7aoin of excellen￿.
Ensure there isa comprehensive sit8 dsvdopmentplan to ensu￿ thatthe site isdeveloped and maintained lo htgh
stsndards.
Royal Patro
The School 18 fortunate to recefve the patronage of HRH The tkJche5sof Cornwall. vkno. %%ilh HRH The Prince ofwales, first
visited the School in September 2006. Her Royal Highness h8s subsequènvy tsken a great Inte￿St in the Schoo1 and is a
ketsn supporterofits actiwties, visiting usggain in Deoemb8r2009, November2014 and mosl recenuy in January 2020. The
Principal has thoroughlyenjoyed the Royal engagementsthat she has aitended and isdelighted bythe genuine enthusiasm
and comm¢tment to Elmhurst students demonstrated by Her Royal HpJhness.
Patrons from the Wodd of Clas$ical Ballet
Thg School benefits greatly from the support of Maina Gielguij.. AO. Dame Mede Pait DBE, Sir Peter Wright. CBE, Carfos
Acosta and Wayne MacGregor CBE who act as Vice-Presidents of Elmhurst. This very public support from such eminent
ballet experts has consolidated Eltnhurst's place as one of the foremost vocational ballet schwls in the wunty.
STRATEGIC REPORT
Impact of the Covith19 Global Pandoml¢
While Elmhurst reopened loall skndents and staff in September2020. ftllowing the spri￿suMmer10ckdoWn. th8 Pandemic
continued to signth¢ontly affect School lrfe. with I(￿al ￿stric[lOn$ in force in the Auttsrnn Term, followed by another Notion81
L￿kdOWn in January 2021. We were able to effiaenuy swtch lo provi(ling onlineteaching and learning wlh very litue ftotico
8nd taught vast majority of Ouf nomial timetabb lo sthdents at home. Fees for the affected period were d[s￿Unted to
support parents and this vas funded by sawngs made our cost base vthile the School vras closed.
UnforttJnat8ly, the majority of 2020r21 events ￿ to be cancelled due to the OfWyMrvJ impact of the Pandemic. indud4ng
fundraising events. outreach acbvities, school trips, lettingsand student perfomiances. We had hoped to put on oureagedy-
anticipated Summershows in July 2021 but unfortun*gtythsse alsofell ¥Actim lo Cov*$19vkniL*wdS hugelydisa4Jpoinbngto
Elmhurst students, parents. stsff and supporters.
Despite the ¢hallengeslaced bythe Scho￿ due toCo￿d-19, in theaCadem￿ye8r2O2l>2l thère**Ms nolable suw&sforth8
School and Its studenls.
Emplo5Thont Suc￿Ss
Despite the Pandemic, 18 out of the Gradualing 20 stud8nts IW%I ￿cceeded ingainiTrJ emplo￿or￿rth8r&Yn￿ related
training. Employment contracts indud6d Bimingham Royal Ballet. Estonian National Ba118t, Ballet Vanemuine- Estonia,
Budapest D8nce Th8atsg. Caifo Opera Balletand others. One studenl was offered a full (x)nlradbwth BRB priortrjgraduating,
whilst in Ygar 13. One student chose to explore a career in actiro and ono studenl ¢hose to go to Unive￿ty. We wwg
extr8m$ly proud of all ofour graduating sludents after 2 challenging ￿demiC years.
Recruitment and Ratsntion
Dueto thedrfficulties relating to the Covid Pandernic, the 2020r21 arademicyearconslsted of a h￿rid approathtrj auditions.
Entryfor UK based Sturtentswe￿ able to tske place in pewson. thile Intemational ap￿￿nts￿t￿￿nduCt8doverZoorn orby
video auditson. Our Recwitrnenl and Retgntion Str*egy indudes open daysand eyperienlzdaystohe1pprospecb￿ students
understand the requirements ataudth.on and these have proved extremety wwlar. These were also hèld ovor Zoom during
the year.
Intematlonal Engagements
During 2020r21, Robert pa￿er conlinued to adjL*Jicate inlemalional ojmpetsbons wrtually. This induded the Youth
Am8ric8n Grand Prix finals. thè Global Dance Intemational compebbon in Portugal. t￿ASIan Elite Grand Prix and th&
International Grand Prix of Singapore. Virtual Japan auditions and masler-dasses took place from the Elmhurst studio
Ih¢atre. resulting in the successfvl recruitment of fve sttJ(lents for thg 6th fom.

ELMHURST BALLET SCHOOL TRUST
REPORT OF THE GOVERNORS
FOR THE YEAR ENDED 31 AUGUST 2021
Artlstlc Perforniances
The year2020-21 was unfortunatety intsrrupted bythe national I(￿d0￿ r￿lting in the nece&gty ofremote ￿arning and thg
¢ancellation of manyperfomiance oppOrtun￿es, including the annual SuMmerSho￿. However. the students did managè lo
ptrrfomi the technical and dress rehearsals. All students ￿Te given the opportunity to creatively with an extemal
horwrapher. prowdiro valuable eyperience and prep81311(￿ fr>r the industy.
BRB Perforniances
Graduate and posl-Graduate students ￿tre selected lo perfomi the enti￿ Snow Scene section of Sir Pgtsr Wright's
production of Nutcrackeralongside BRB at Ihe Binnir¥Jham REP Thealre. Th8 perforMan￿%￿aSStrearI￿d rkationallyoverthe
Christmas period. The perfomiance also indudeil year 7 mal8 Students in the ro18 of Fritz.
Year 13 female studentswere also $818Ct8d lo wfomthe Stars section of SirDavid Binuels production ofcinderella atthe
Bimiingham Rep Th08tr&.
Competitlon Success
In the year2020fdi, 1 male and 1 female Uptwsthool slud￿1 represent￿thE sd)ool atlhefinalsofthe prestigioL¢S Prix de
Lausanne International Ballètcompethon. 2 lemale UpperSthcK)I StUdentsaPpea￿ assempfinalists ofthe Youth American
Grand Prix virtual competition. A female student vrds awarded the bronze medal in the Maryot Fonteyn lTrternational
Comp9tibon and another female student awarded the Judge'8 Ch¢Th Chorp(uraphic Awar(l.
Industry Inspira￿￿￿
Due to the P8Trdemic, students were unableto attend Itve perfonnances but￿re abieto View Iivg r818y pgrfonnances in the
ElmhurstTheatre. Live relay showings included the LazulÉ SkyTriple Bill and Ntrtcracker by Bimingham Royal Ballet. and the
Royal Ballet Back on Stsge Gala and Sir Matthew Boum8's ofRomeoand Juliet GradUatesludents￿PreQWen th8
opportunity to attend a Iwe perfomwn¢e ofthe Curated by Cartos tiiple bill.
other, virtual guest speakers in conversation Princjpal Jessica wa￿ induded Sir Malthew Boume IDÉrector of New
Adventures), Christopher Hampson IDirectorofScottish Ballell. Wayne McGregtsrCBE (Co. Wayne McGregDrl, Etta Murfftt
(Associate Directorof NewAdvenlur8sI. CarfosAcosta CBE IDirectorofBRBI, and Theresa Ruth Howard (Diversity strategis¢
and consultanll. Olh9rguestspeakets included Bim)ingham Royal BalleldancersKit Holderand Laurd Daya8 ￿11 asfomier
Elmhurst graduates Emma Price. Joshua Bawwck. Ftyan Felix and Rosanna Ely.
Transitions Dance Company delWeredv+Drksho￿ttstho 6thfomi siudents aTh1 perf￿m￿ fOr￿v￿OIesChool inthe Elmhursl
Theatre.
Outstandlng Academlc Results
Elmhurst admits students solety on the basis of atMIty and wtenlial in d3￿Cal ballet- and is the￿fOre not academlcally
selective. Nevertheless. the School continues to ad)ieve excellenl academic results. Elmhurst conlinu8s to offer a full,
enriching and relevant academic curriculum in both Lower School and Upper School, being cornrnitted to tho notion that
thiriking daneers make better dancers. The School is also avrare that students need to have 8 good academic grounding in
proparatton for lrfe beyond dancing, %thatever that invofves them do1￿. A wide variety of option subjects are availablg al
GCSE level and all students take part in Enrichment acbvibes we6kty such as. finanaal awareness. study skills, crafts &
sewng. gardening as well as many olher optiws.
Exarninations ￿Ere cAncelled in Summer 2020 & 2021 as directed by the UK Govemmgllt and replaced with toacher
cal¢ulated grades.

ELMHURST BALLET SCHOOL TRUST
REPORT OF THE GOVERNORS
FOR THEYEAR ENDED 31 AUGUST 2021
Lower School Academic R85uIts 2021
In 2021, 22 Year 11 studgnlswere awarded ￿s￿liS in 165 GCSE ex8mÉnations (an average ofover 7.5 per studgntl. 55% of
all GCSE entiies were awarded grades 7-9 and 95% olstLMlentsgained fivtr ormore GCSES linduding English and Maths) at
grades 4-9.
GCSEIIGCSE Data
/0 Entries awarded 9-
rades
/0 Entries awarded 9-
rades
°A Sludenls obtsining 5+ 9
rades
°/0 Students obtsining 5+
rades indudin
Maths and E lish
Cohort Size
Average number of GCSE entries per
student
2021
75
100
11KJ
2020
55
95
95
2019
32
95
91
2018
51
2017
35
90
87
11KJ
87
24
21
23
Upper S¢hog1 Audemic Results 2021
Sixth Form students at Elmhursi studyfr>rALgvels ak￿$￿Ie theirdemanding dance training schsdule. AtA Level lastyear,
th&rg W8s a pass ral8 of 1CKI%, consistent %%ilh the K*rovious years.
A Level Dats
¢/0 Entries awarded A"-C rades
°/0 Entries awarded A'_E
des
Cohort size
year
rolliTrJ
average
Vo Entries awarded A'l rades
2021
89
2020
89
100
20
79
2019
62
100
2018
85
100
19
74
2017
76
97
19
72
17
80
74
EPQ ¢ontinuo$1o growand perform verywell. In 20r21 IhtrreMpreseven enlries. all achievirKJ veryhkJhgradgs indudirKJ on6
A", five grade A and on6 B.
Health & Wellbolng Str*ogy
Elmhur8fs Heatth and Wellbeing Team aimto fftate an en￿￿0￿Mentthatp[￿otes3Th1 enhan￿8th9 health and￿tIlb@Ing of
811 ourstudents as perfomiing artists, enabling themto8chievetheirfvll potential and build healthyand w*ainable lives and
¢aregrs.
Elrnhufst has four key strands to tts Health and well￿1r¥3 slialegy. thes¢ arg.. preventMM', early identrfication,. prompt
appropriate intervention and ongoing $upporL
W6 aimto ensu￿WhereVerposSib1e the p￿vention of irtjuryand illness. When issues do arise￿e aSmtoldentifylhe* issues
asearty as possible and th8nwork in a coordinated brdytr> pmwde appropiiate supportand intervenb'on. Interventionswill be
monitored and reviewed fora$ long as they are needed. Ourvi&on is to provide Outstsnding physical and emotional careto
all students in a timely. sensitive and supporbve manner. We achieve this by providiThJ out studentsaccessloawide rang8of
emotional and phys￿1 supwrt serMceswhi(* indude. phwotherdpists. a rehabilitation expert, a thngth and conditioning
Coach. 8 counsellor and menlal hearth nurse. DuriThJ the kKkdoNbn period in 2021. health and wellbeing Services were
deliver8d remotety ￿th great SLNxess.
Our Young Perfomiers Heamh Trust ¢{￿tinUeS to ensure that our stud￿$ (¥n obtsin outstsnding health care suptK)rt in
timety Manr￿[.
Outreach and Partn•rshl
Enjoyrnent of, and participation in balEeL is in danger of bec0mll￿ the preseTha of th& wealthy, as arts education is
increasingly eroded in state sector schools. We are pa￿Onate atrK&ut our art. Every year. work ￿T(h a number of stste
sector schools, to inspire an intèrest in ballet amongst young audiences vA)o may never have cOn￿dered ballet as 8 leisure
acllvty or as a career. and to briryJ them new and dNerse eyriences.
Due to the COVIt>19 pandemic and associated restricbons. most of Ihe sthool's outreach had to be put on hold in
202012021, h¢)wever this has resumed post year-end th vK>rkshops run by Elmhurst students being held in local slate
8chool8.

ELMHURST BALLET SCHOOL TRUST
REPORT OF THE GOVERNORS
FOR THE YEAR ENDED 31 AUGUST 2021
FUTURE PL4NS
It is Important for Elmhurst to malntaSn a h￿h quality ballettraining 0￿r outsSde of London as an important partofthe UK'$
dance ecol(KJy. With continued government funding and support from key partner organisations Elmhurst wll conb.nue to
thriv8. As on organisation we are ambthous8nd hop8 to secure furtherimprovemenlthwh focu&Th3 on th￿cr￿jaI strands".
Recrultment
Identi￿ng talented young peop￿[￿M dtverse backgroundsthrough a targeted national and inlemation81 auditions
progrdmme to join the sthocd.
Retention
Prow&on of%￿dd￿ass trainiThJ, educalion and h8atth &wellbeing. *ilh ourstudents 8lthe centre of all thatwe do.
Revenue
Ma￿MiS1n9 In￿Me into Ihg S(1￿01 to ensure Elmhurst can conlinue to inv&sl In Its fac4lities and ts peo￿.
FINANCIAL REVIEW AND RESULTS FOR THE YEAR
The statementof fin8nch?l actiwties Isset￿J10n page 14 and shtmstolal inc(Mne of£4,855,125{2¢Y20.. £4.893,0241thich isa
decrease of 0.8¥0 cornpa￿d with the prior year. School fee income remained broadly oonsistent at £3.693,285 {2020'.
£3,635.9921 wth fees being di%ountgd during lockdoym periods in bo(h yeaTr. tk)nations income decreased to £128,590
12020.. £144,187} due lo Ihg reduction in levels of fundraising activity wthich affected the %thole year in 2020121.Incorne from
Ihe Govemmenys Coronawrus Job Retention Scheme decrgased fmm £257.404 in 2020 to £137,834 in 2021 due to the
school c108ure period Sn 2021 beiThJ shorter than the peritxj in the prior year.
The School's nel exptrnditure befo￿ gains on investments of £25.T18 {2020: £101,646) was satisfactory In tho current
economic climate. 80th Income and Expenditure decreased over the year. largely linked to the impact of the Pandemic on
School opoTrtions. The School continues to strive to increase sbjdent nurnbers whilst maintainir@ control ofcosts.
Our trading subsidiary continues to hire out Elmhur5t SrJKM)I faul￿eS durirKJ vacatsons and weekends. although this was
signific8nYy impacted bythe Pandemic in 2020r21. Ajong iiscommercial activtbgs. wilhin the Groupand extemally, ithas
made a small loss of £2,80912020.' profft of £3.8641. Subsequentto the year8rKJ. activibes have increased to pre-pandernic
levels and is expecte(I to retum lo [￿bIlty in 2021122.
FUNDRAISING STATEMEP
InciKne generated through fundraisng is importantto the sJJslainabilty ofElmhurstBalletSchod and empbyonefijlltime
Fundraising Officer who m•nag&s our fundraisng strategy and targets. Funding and support comes from trusts and
foundations, companies and individuals, %￿rkIng dosely potsnbal supporters to match interestsand motivation$wtrthe
needs of sluilents. as ￿ell as organisiro regulartour5 and ev8nts to keep SUP[￿rters connected the school. We use a
numberofdiffèrent channels to communicate ourdonors. i￿￿Udir0 M￿1. email, fac&￿f3¢efUnd[a1￿rrfJ. onlinegiving and
social media.
We are registefedwththe Fundraising Regulatorand the FurKlraising PreferntKeService. affimiing ourcompliancewth the
Fundraising Regulator C(KJe of Fundraisng Practice. We do not Cold￿11 or cold•mail the publi¢. nor do we put undue
pressure on people to donate. Our Fundraising Officer also altends regular meetings wth the Chartered Institute of
Fundraisin9 in order to stay up to dale b851 pr3dice vAthin fiJndfaisiThJ. We continuè to comply wth all legislative and
regulatory ￿qUIrementS and ensurethatourpoliues, guidelines and PToce55es a￿ re￿eWed and updated regularty and that
we Comply fully with GDPR. We are pleased to reFKrt that ￿ have not recwved any complaints regarding ourfundraising
practice during the year endèd 31 August 2021.

ELMHURST BALLET SCHOOL TRUST
REPORT OF THE GOVERNORS
FOR THE YEAR ENDED 31 AUGUST 2021
FUNDRAISING PERFORMANCE
Donations
Donations decreased in the yearfrwi £144.187to£128,5W. This ¥was mainlydu81oth& impactofCoM&19 restricbons on
ndraising events.
500 Club
In 2020121 we continued to Promote and develop the Elmhurst Ballet School 500 Club. bUs1r￿$s&S sign upto support
Elmhurstat a cost of £500 perannum and in exchange ar8 inwted to att8nd a numbèrofVIP networknng events atthe schod.
This has proved highly successful and although were Unab￿ to hold any events due lo national and local Govemmonl
restrictions. we are r￿kIN￿ forvrdrd to membets bacth into Sc￿1 as soon as we are able to do so.
Trusts and Foundations
We are very grateful forthe funding received orpledged tygrant-making trusts and foundations towards bursary supportfor
the students who hav8 b88n identtfied as struggling wtth the cosis of theirdance training. During 2020121 were suceessfvl
in a numbgr of funding applicationsto grant-making trusts and foundations to supth)rt a rdroe of projects, including." student
bursaries, Cho￿ography, Elmhurst Young Dancers Prograrnme and outreach acEivib'es and performances. W8 continue to
researd7 and appty to grarbt-making oryJanisations to incre&8e our effectivene&9 this area.
The Govemor¥. Staff anij Slud$nts would like to Ihank everyone has SUp￿￿ted the School during 2021N21.
LETnNGS
Lettings ofthe Sch(xA's dance and conferen¢6faCi1￿85. largèty duriTh3vacations prowded an addition to mainstreamrovanue
of £7,20312020: £23,572>. The majority of our regularleth"rwJswere cancelled in 2020121 due lo ￿$triCtIonS and uncertainty
relating to Covid-19. We are delighted Ihat subseqsjent to the year end our lettings acb'vity has Telurneil to pre-pandemic
levels and this wll be refiected in 2021122 irKJJm8.
KEY mANAGEMETr￿ PERSONNEL
The Govemors considerthe Board ofGovemors and the SeniorLeadership Team compris6th6 key managementpersonnel
of the charity. Ail Govgmors givè of their time freely and no Govemor received remunerabon in the year. The pay of the
Senior Leaders 1$ rèwiewed annually and nonnalty increased at the same rate as pay increases given lo other staff.
RESERVES
At 31 August 2021, the School had £1.098,40212020.. £W2,6371 of Trserves plus £2.6m12020'. £2.6ml IdenlTfied fvr
longer term invgthent. Fr¥8 ras&rves are th& group unrestricted net current assets. It remains the Gtsvemors. policy to
accumul8to a gèneras reserve equivalentto uptotwo temi's runnirrfJ cosls as an adequate ￿Ve1 of I￿￿'r￿j capital. Based on
urrent levels ol expenditure, this would equate to appr0￿matelY £3.254,00012020.' £3,330,000).
The Sthool hastwo des￿nated reserves. Thedesignated wital reserve ￿[￿esents the netbookvalue ofthe le￿hOld Lqnd
and buildings. This wll be released over the useful economic life of the land and buildings. The deswJnated repairs reserve
represents monies seta&de formajorrepairs tothefabricof the buildirrfJ. Thiswill beexp8nded in a¢Xordanc8￿11hthe repairs
and Maintenan￿ programme.
GOING CONCERN
During 2020121 the school was able to redl￿ its cost base in orderto offsetthe financial impactofthe Cowi&19 pandemic.
Our cash position remains strong {£2.035m 3t 1 August 20221.
Looking forward tolhe next 12 monlh& ￿ are del*3hted thatourGovemmentfrJndingfrom the MDS and TrdDAsthemeshas
beèn confimied for the academtc year 2022123. In addition. our student recrUth￿nt process h8s be8n extremely Suc￿ssfiJl
and we look fowRrd to ￿elcom1n9 healthy student nurnbe￿ to ElMhurStfortt￿ new academic yoar.
On this basis the GovemoTr are sati￿$d that it remwns appiopri* to drnw up Ihe aCc￿nts for the year ended 31 August
2021 on the going concern basis.

ELMHURST BALLET SCHOOL TRUST
REPORT OF THE GOVERNORS
FOR THE YEAR ENDED 31 AUGUST 2021
INVESTME￿ POLICY
The School has previously placed all donalions to the endowmenl fvnd on dewsii wth M & G Charifund with the aim of
fvnding fvture scholarships.
The School's current Investment policy has been in place since 2014. The School seeks to producethe best financial retum
within an ac￿p(able1SVel of risk. £2.Sm has been passed to a Professional investrnent managerand isfultyinvested and has
been treated as longert8rm investments. The mand*8 isfora balance catmtal arhd incornèi)n a mediurn to high risk
basis over a ten year time horizon. The sionificAnt gain on ￿¥alU￿.0n ￿fleCtS the bounce pack ofthe market follovrfing ils
reaction to the Coronawrus global pandemic and is broadly in line the relevant private investor indices provided by tho
WMA but signifficantly ahead of the FTSE 11)0.
Any avallable cash held by the Schoo[￿lch is unlikety to be required wthin a ccyjple ofmonths is on short terni deposf(wth
Lloyds ban
AUDITORS
RSM UK Audit LLPhave indKXtedtheirwllir￿ne&%t0￿reapKX￿nI￿foranDthwtern a￿)rOpriatearraNJeMentsha￿ b8en
pul In place for Ihem to be deemed reapwinted as aLtditors in Ihe abs￿ of an Annual General MeetirrfJ.
STATEMENT OF GOVERNORS. RESPONSIBILMES
The Governorslwho are also directors of Elmhurst Ballet Sch(MJl Trustforthe WI￿0$￿$ of ¢omp8ny responsible for
preparing the Rep(Mt of the Govemors and thè ffinancial statements in accordance wth appIl￿ble law and Unlted Kingdom
Aceounting Standards (United Kingdom Generalty Accepted Accounbng Practi￿}.
Company18w requires the Govemorsto preparefinanual 5tatem$ntsforeach ffinanaal yearvknich give atrne andfairvwof
the state of affairs of the charitsble company and the gmup and of the incomitvJ ￿sOurceS and application of resourc8S,
Including the income and expendilure. of the charitable group for thal period. In prepariro these finanaal statements, the
Govemors are requireil to:
Select suilable accounting wliues and then apply them con%stenty:
Observe the methods and principles in the Chaiities SORP-
Make judgments arbd e$tim8t¢s that are rsasonabl$ and FKudent
Preparethe finanual slatementson the golng CO￿ ba%sunless iiis inappropriateto presumethatthpcth8ritaWe
company will continue in business.
The Governors arg responsbl8for kg8pir¥J prO￿ra¢COUnting records that disdosewith ￿8$onab1È accuracyatanytimethe
fin8rTrGi81 position of the charitable company and enaUe them to ensure Ihat the financial statements comply wth the
Companies Act 2006. They a￿ also respon￿ble for safeguarding the assets of the charitable company and the group and
hence for taking reasonable sleps for the prevention and detection of fraud and other irregularib'es.
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
The Govemors who ￿tre in office on the date of approval offhese financial statements have confimied. as far as they arg
aware, that there is no Televant audit infonnation ofwhich the audf(ors are unawdre. Each of the Govemors have confimed
that they have taken all the steps that they ought to have taken as &>VernO￿ in 0￿er to make themselves aware of any
relevant audit infomiation and to es181A4sh that it has been commun￿81¢￿ to th8 8udttor.
The Report of the Governors is approved by order of the Board of G0vem0￿ and the Strategic Report {included thertsinl 15
appro
d bythe Board ofGovernors in Iheircapautyasthe directors ata meebng on 24August2022and ￿gned0n ttsboha
by..
an of Governors
Elmhurst Ballet Sch¢y)l Trust
249 Bristol Road
Edgbastr)ft
Bimiirngham
B5 7UH
Date: 24 August 2022
10

INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF
ELMHURST BALLET SCHOOL TRUST
Opinion
We have audtted the financtal statements of Elmhurst Ballet Sthool Trustlthe'parent charitable company'lond ttssubsidiary
Ithe'group'lforthe yearended 31 Avgusl 2021 whith comprisethe Consolidated Stslement of Finan￿al Activities (including
Income and expenditure awountl, the Consolidated and Chartty Balar￿e Sheets,the ¢￿9)lidated and Charitystatements of
Cash Flows and nol8Stolhe financial statements, includiTrJ sKJnificantacoounting policies. Thefinanaal retx)rbng framewo
that has been applied in their preparation is applicable18w and Untted KiThJdom Accounting Stsndards. includiNg FRS 102
he Finanaal Rew)rting Standard applicab18 in ts UK arml Republ￿ of I￿￿nd. (United Kingdom Gentsrally Accepted
Ao¢tsunting Practice).
In our opinion the financlal statements..
gwe a trtJ8 and fairviewof the stale ofthegroup's and the parent ¢hatitable companrfs affairs as at31 August2021
and of the group's incomirKJ resources and application of r8s0urces. induding its income and 8XP8ndilure, for the
year then ended:
have been property prepared in acLor(lance United Kingdom Generally Accepted A(wunting Pra¢tice", and
have been prepared in accordance wth the requirements of the Companies Acl 2006.
Basls for opinion
We conducted our audil in accordance wth Inlemational Standards on Audibng IUKI IISAS IUK}l and applicable law. OLFr
responsibilitses under those standards are fijrther described in the Audtttirfs resp￿SIbili￿eS for the aud(( of the financial
518lem8nts section ol our report. We a￿ independent of the group and pa￿nt charitable company in accordance with the
ethical rèquI￿rnents that are relevant to our au¢Jit of the financial statemenis in the UK, induding the FRC'S Ethical
Standard and have fv￿ll19d our other ethical responsibilities in accordance these requirements. We believe that
the audit evsdence we havè obtained is sufficient and appropriale to provide a basis forour opinion.
Conclusions relatlng to going concern
In auditing the finanaal statements. we have condudotl that the trustees. use of Ihe goiThJ uJn(¥m b85is of ac¢ounting in
Ihe preparation of the financial stslements is appri¥)riate.
Based on the work havè perfom*d. we have nol hlentrfied any matwial uncertainties relafiThJ to events or Cond￿On$
that, inilividually or collectsvely, may cast signfficanl doubt on th8 group's or Pa￿nt charitable companys abilty to
continue as a going concem for a periiKI of al le8St llbtfve months from vknen the finanual ststem$nts are authorised for
issue.
Our responsibil￿eS 8nd the responsibil￿eS of the trustees ￿7(h r¥s￿¢t10 golng concem are describe(J in thg rglevant
S8clion$ of this report.
Other Informatlon
The other information comprises the infonnalion induded in the Annual R8rx)rt otherthan the financAal ststemenls and
our aud￿0￿¥ roport thereon. The trustees are responsible for the other infomatton contained within the knnual Report.
Our opinion on the financial statements does not CQV8r thè other infomiation and, except to the exi8llt otherwsè 8xplicilly
81818d In our report, we do not eypress any fom of assurance condusion Ihelec￿.
Our reSPon￿billty is to T8#d the othèr infomiation and. in doir4J so, considerwhether the other infomation is rnaterially
inconsistent with thè financial statements or our kno￿edge obtsineil in the c¢)urse of the audit or otherwise appears lo be
rnalerially misstated. If identify such material inconwstenoes or apparent material misststements. we 8re required lo
determine whether this gives rise to a material rnisstat8mènt in the finanaal statements themselves. If. based on the
work we have performed, condud$ th* there is a material misstatem8nt of this other infomiation. we are requirod to
rsm that fact
We have nothing to roport in this regard.
Oplnlons on other matters pr¢serlb8d by the COMp￿se8 Act 2006
In our opinion. based on the w)rk undertaken in the course of the aud￿.
the inf0m￿tIOn given in the Trustees. Report, vA)ith indudes the t*Tectors' Report the Strategic Rgport
prepared forthe purpo88s of ¢omp8ny law. financial yearfor%thiL* th8 ffinanual stateme¢)ts are pmpared is
consistent with th9 finan(ial statements., and
the Directors, Report and the Strategic Report inchjded within the Twstee$' Rewt have been ￿pared In
accordance with applicable legal requiremenls.
Mthr8 on whlch we are requlred to report by •xceptlon
In the light of the knovledge and undefstanding of the group and the pa￿nt charitsble company 8nd their enwronrnent
obtained in the course of the audit, we have not Klontified matertal misstatements in the t￿r￿tors, Report or thg Strategic
R9POrt induded wilhin the Trustees, R8porL
11

INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF
ELMHURST BALLET SCHOOL TRUST (continued)
We have nothing to report in respectofthef01l￿iDg Mattw5wh8￿ the companiesACt2C￿ requires u8to ￿portIO you if, in
our opinitsn..
adequale accounting records have not been keptbythe pa￿ntChanfable ¢)Jmpany, [￿retUrnS adequateforwraudit
have not been recewed from bTrnches not wsited by us.. or
the parent charitable cofflpanyfinancial ststementsare notin agreemenlwilh the ac(x>untiThJ records and retums.. or
certain disclosures of trustees. remunerntion specrfied by Law are not made,. or
we have not received all the irTrformation and explanations we require for our audiL
Responsibilitiès of trustees
As explained fflore fully in the Siatemenl of Truslees, responsibilibes set outon page 10. the trustees Iwho ar8 also the
direGlors of the charitable company for the pvrposes of CQTnpany law) a￿ responsible for the preparabon of the financial
$ts18ments and for being satisfied that they gN8 3 true and fair wew. and for such intemal corkln)l as the truslees
detemiine is necessary to enable th8 pr8ParnticM) of financial statements thal are fr89 from material Misstate￿￿nl.
whelher due lo fraud or error.
In preparing the financial statements. the truste8S respongble aSSe￿ng the group's and parent charitabl&
cotnpany's ability to continue as 8 going con¢em. disclosing. as applicable. Matte￿ related to going concem and uslng
the going concem basis of aowunting unless the truslees either intend to liquidate the gTOUP or parent charitsble
company or to ceastr oparations. or have no realistic altematNe Ixrt to do so.
Audltor's responsibiltties for thg audlt of the financlal ststements
Our objectives are to obtain ￿8$O￿able assurdnce about%vhetherthe fina￿>81 stslements asa vthole are free from material
misstatement, ￿ether￿u8t0fraud orerror. andto iSSLte an auditorfs reportth* in¢ludesouropinion. Reasonableassurance
Ss a high level of assurance, but is not a guarantee Ihat an auditcondurted in accordance with ISAs{UKl*ill 8￿yS delect a
material mis¥tatementwhen itexists. Misstatementscan 8ris8fFDm fraLKI orerrorand are cymgdered m8tori81 rf. individualtyor
in the aggregate. theycould reasonably be e¥Fwlgdto InfiUen￿the ￿10m￿deCisIOnS of user5tsken on the ba&s oftheso
financial stalements.
The extent to whlch the audit was considered capable of detectlng Irregularltles. inclvding fraud
Irreg(Jl8r5bès are instances of non-complianc8 wth18ws and regulations. The objectives of our audit are to obtain suffici9llt
appropriate audit evidence regarding compliancè *ith LAWS and wulations that have a dirert effect on the detemiination of
material amounts and disdosur¢s in finanual statements, to perform pr(wlures to help identify instances of non-
compliance with olh•r laws and regulations thal may have a material Offect on the financtal statements, and to reswnd
appropriately lo identified or suspected norkcornpliance and wulations identified during th& audit.
In relatlon to fraud. the objectives of our 8udit are to I￿tify and assess the risk of material misstatement of the finandal
statements dueto fraud, lo obtsin sufficientappropriate audilevidenoe regarding theassessed risks of Material rnisstatement
due lo fraud through designing and impl￿brO appropriate F8sponsesarKI to respond appropriatelytofraud orsuspecled
fraud idgntifi¢d during the audft.
However. It is the primary responsibiltty 0fMan￿menl *ilh th8ovewht ofth088 th8ry8dvrith govemance, to ensu￿ that
the entsly's operations 8r8 condu(*ed in aCcOrdar￿ V*ith the prO￿￿on5 of I￿ and regulalions and for the prevention and
detection of fraud.
In tdentsfySng and assessing risks of material Mis*alaTh￿ in res￿ of wwubrTbes, induding fraud. the group audf(
e￿agement team=
obtained an understanding of the nature of the sector. indudiTrJ the legal and regut8tory framework that the group
and parent charitsble company twrntès in and howthegroup pargntdwitable company are COmp￿r￿J ¥Mththe
legal and regulatory framework.,
inquired ofmanagemtsnl, 8nd those ChargedV￿thgoYernan1￿, 81MxJtthgif{y4￿ identification and &%%e&smentof the
risks of irr8gulariti"es, including any knovm actval. suspecteil or alleged inslances of fraud.,
discussed Jnatters ablxrt nOn-com￿lanCevth laws arnl regu18tionsand howfratkl mightocr4JrindudirffJasses%nent
of how and vA)ere the financ¢al statements may be suwptible tr) fraLMI.
As a rgsuf( of Ihese Procedures consKlef the mosl sign[fi(￿nt laws and rwJulations that havo a dlrect impact on th8
finan¢ial statements afe FRS 102, Cha￿be8 SORP IFRS 1021. Companies Acl 20(￿. Chari(i9$Act2011. Ihe parentcharitable
companvs goveming ￿(￿Ume￿L tsx 18gislalion and Charibes (Protection and So(xal Investment) Act 2016. We perfornied
audit procedures lo detect n￿-¢0Mpli3ftCes which may have a matsrial impacl on the finanaal statements which included
reviewng the )Inanci81 statements induding theTrustees' RepMyL remaining 3￿rtt0 rteworunusual transactionswhich rnay
not be in accordance ￿th the goveming documents, cor￿spOndence kncal tax authorib85 8nd evaluating
ad￿ce receivgd from intemavexiemal athsors.
12

INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF
ELMHURST BALLET SCHOOL TRUST (continued)
The most signrficant laws and regulations that have an indired impact on the financial stslements a￿ The Education
{Independent School Standards) Regulations 2014, Keeping Children Safe in Education undgrsection 175 oflhe Education
Act 2002, and the UK General Data Protection Regulatton {UK GDPRI. We performed audit procèdures lo inquire of
nagemenl and Ihose charged wth govematKe whelher the cha￿table wmpany is in compliance thèse law and
regulations and inspe¢tgd Corresponden￿ wth regulatory authoriti.es.
The group audit engagement team identified the risk of management override of controls 8$ the arg8¥ where the finanoal
51alem8nls were mostsusceplible to material m(&%tatementduetofr8ud. Audit procedures perfomied induded bUtWe￿ not
litni18d to teslirvj manual joumal entries and other adjustrnènts. gvalu8ting the busness rationale in relation to significant.
unusual transacttons and transactions entered into outside the nomal (xxjrsg of busness.
A fvrther description of our responsibilthes for the audit of the financial ststements is provtded on th8 Financial Repo￿ng
Council's website al htt .'I1vh￿.frc.
.uklaudtitirs
ibilities. This <Je￿ipli0n fom)s part of our audilorf$ report.
Use of our report
This report is made solely to the Gharttable companys members. as a bfxly. in ac¢ordan¢e with Chapter 3 of Part 16 of the
Companies Act 2006. Our audit woth has been undertaken so Ihat ￿ mioht slate to the charttable oofflpanys members
those matterswe are required to state to them in 8n audri(>rfs repvt and forno otherpurpose. To the fullestextent pemitted
by law, we do not accept orassume responsibility toanyoneotherthanthe ch8witable cornpany and the charltabk companys
members as a body. for our audTt work, for this reporL or for the oprnions we have fomed.
GARETH JONES {Senior Statutory Aud4torl
For and tsn behaff of RSM UK AUDIT LLP. S12tutrMy Audit
Chartered Accountants
Riverniead House
Grove Park
7 Lews Court
L&icèster
LE19 1SD
Date 2510812022
13

ELMHURST BALLET SCHOOL TRUST
CONSOUDATED STATEMENT OF FINANCIALACTMTIES {INCLUDING INCOME AND EXPENDITURE ACCOUNTI
FOR THE YEAR ENDED 31 August 2021
Unrgstrtcted Restdcted Endowmènt
Funds
Funds
Fund
2021
Total
2020
Totsl
INCOME FROM:
Donations and legacies:
Donabons
Charltable activiti•s=
School fe85 receN8ble
Syllabus classes income
Summer School fees
Grants receivable
CoronawrusJob Reten¢M Scheme
Other tradlng actly1￿&s.
School shows income
Rents and lettings
other income
Investments
27,850
11x1.740
128.590
144,187
3.693,285
94,789
93.448
354.480
137,834
3,693,285
94.789
93.448
354,480
137,834
3,635,992
94,005
17.308
367,583
257,404
7,403
23,572
221,523
124,047
7.203
198,384
133.404
7.203
198,384
147.112
13,708
Total Income
4.740,677
100.740
13.708
4,855,125
4.893,024
EXPENDITURE ON:
Ralslng funds
28.030
28,030
11,509
Charitable actS¥ltles
School opefating costs
4.758.133
94.740
4,852.873
4,983.161
Total expendlture
4.786.163
94.740
4.880,903
4.994.670
NET IEXPENDITUREYINCOME
BEFORE NET GAINS ON
INVESTMENTS
145.486>
13.708
125.778)
1101,646)
Net g8insllkns8851 on investments
65,￿3
521.456
1187,286}
NET INCOMEIIEXPENDITUREI
410.367
79.311
495.678
1288.9321
TRANSFERS BETWEEN FUNDS
14.15
13.(KJO}
NET 14qOVEMENT IN FUNDS
413.367
76.311
495,678
1288.9321
R•conciliati¢)n of funds:
Funds brought forwmrd at 1 September 2020
16,516.651
122.056
295.471
16.934.178
17,223,110
Funds carrted for¥Yard at 31 August 2021
16.9￿).018
128.056
371.782
17,429,856
16.934,178
14

ELMHURST BALLET SCHOOL TRUST
CONSOLIDATED BALANCE SHEET
AS AT 31 August 2021
Company RegistratKon No. 2932622
2021
2020
FIXED ASSETS
Tangible assets
Investments
12.644.090
3,509,169
12,899.198
2,956,471
16.153.259
15,855,669
CURRENT ASSETS
Debtors
Short temi deposits
Cash at bank and in hand
10
276.133
1.(r27,997
853,810
333.041
627,519
1.030,740
2.157.940
1,991.3CKt
CREDITORS: Amounts falling
due within on& year
11
{881,3431
{912,7911
NET CURRENT ASSErs
1,276.597
1,078,509
TOTAL ASSETS LESS CURRENT
LIABILITIES BEING NET ASSETS
17.429,
16.934,178
FUNDS
Endowment fvnds
Restricted funds
Unrestriclgd fvnds..
Designated reserves
General reseNe
13
13
371.782
128.056
295,471
122,056
14
15
15,149.rn
1.780,245
15.369,208
1.147,443
16.930.018
16,516,651
TOTAL FUNDS
17,429,856
16.934,178
The fin8w81 statements on paye$ 14 to 33 %%Ere approved and aulhorised for issue by th8 BO9￿ of Govemors oft
24 August 2022 and were wgn8d below on its behalf ty.
J Harris- Chairof Govemors
16

ELMHURST BALLET SCHOOL TRUST
CHARITY BALANCE SHEET
AS AT 31 August 2021
2021
2020
FIXED ASSETS
Tanglble assets
Investmenls
12.644.0
3,509,170
12.899.198
2,956.472
16.153.260
15,855.670
CURRENT ASSETS
Debtors
Short tem deposits
Cash at bank and in hand
10
308.109
1.027.997
817.&57
349.940
627.519
995,372
2,153.
1.972,831
CREDITORS.. Amounts fajling
due within one year
11
1874.5561
(898.1861
NET CURRENT ASSETS
1279.407
1,074,645
TOTAL ASSETS LESS CURRENT
UABILFTIES BEING NET ASSETS
17.432.867
16.930,315
FUNDS
Endowment funds
Restricted funds
Unrestricted fvnds..
Designated re8erve8
General rg88Ng
13
13
371.782
128,056
295.471
122.056
14
15
15,149.713
1.783.056
15.369.208
1.143.580
16,932,829
16,512.788
TOTAL FUNDS
17,432.667
16,930.315
Incom6 of £4.850,72512020'. £4,907.4391 relates to the parenl undertaknng. Eypenditure of £4.869.830 {2020: £4,981.428)
r91atesto the parentundertaking. leaviro a defiut wiorto investmentgainsforthe financial yearin Ihe accounts ofthe parent
undertaking of £19.10512020'. deficit of £73,989).
The financial statements on pages 14 to 33 %%Ere approv&J and auihorised for issue by the Board of Governors on
24 August 2022 and ￿re soned below on its behatt by..
J Harris- Chair of Gover￿r3
16

ELMHURST BALLET SCHOOL TRUST
CONSOLIDATED STATEMENT OF CASHFLOWS
FOR THE YEAR ENDED 31 August 2021
2021
2020
Cash flows from ¢)perating acttvltles:
Net cash provided by operatittg acttvitles
19
106,066
).123
Cash flows from Inv•5ting actJ¥lti•s-
Dividends and interest from investments
Purchase of property, plant and equiprngnl
Proceeds from sale of investments
Purchase of investments
143,830
{19,2041
625,312
(635,7381
120.160
133,6621
616,004
{627,6821
Net Cash provided byllusgd in) Investlng actiTrltles
114,200
74,820
Cash flows from financing actlvities:
Cash fiows attribtrtable to endo￿nent
3.282
3,886
Net cash provided byflnancing actlvltles
3.282
3.886
Change In cash and eash equtval•rtts In the yèar
223,548
168.829
Cash and ￿$h equlvalènts at the t￿Inning of the
1,658.259
1,489.430
Cash and cash èquivalents at th• •nd ofthe
1.881.807
1.658.259
17

ELMHURST BALLET SCHOOL TRusr
CHARITY STATEMENT OF CASHFLOWS
FOR THE YEAR ENDED 31 August 2021
Notes
2021
2020
Cash flows from operating activitles:
Net cash providèd by operatlng actlvltles
19
105.481
102,321
Cash flows from Investlng act5vities:
Dividends aftd Inte￿St from investments
Purchase of property, plant and equipment
Proceeds from sale of investments
Purchase of investsllents
143.830
119.2041
625,312
1635,7381
120,161
133.6621
616,004
1627,683
N•t cash provlded byl{used inl I￿￿$tIng actlvltles
114200
74.820
Cash flows from Ilnandng acilTrAtles:
Cash flows atknbutable to endowment
3.282
3,886
Net cash provlded by financing actlvllles
3.282
Chango In cash and cash equlvalents in thg ￿ar
222,963
181,027
Cash and cash equivalents at thè beglnnlng ofthe
1.622,891
1.441.864
Cash •nd cash equlvalents atthe end ofthg
20
1.845,854
1.622,891
18

ELMHURST BALLET SCHOOL TRUST
ACCOUNTING POLICIES
GENERAL INFORMATION
Elmhurst Bollol School Trust {Ihe charilf) is a charilable company limited by guarante8 and is incorporated in England and
Wales (Company registratiorh numb8r2932622 and charity number 10402861. The addre&gofthe Chartty's registered offi
and princtpal place of business Is 249 Bristol Road, Edgbaston, B1￿1r￿Jham. B5 7UH.
The group consists ofthe charity and its one subsidiary. Ejmhurst Enlewriw Limited.
The nature of the group's opeiations are set out in the Report of Ihe Govemors.
The principal a￿0￿￿ting policies adopted. juthjements and key ￿urceS of eslimation un¢&rtainty in the preparation of the
finandal statements are as follows:
BASIS OF ACCOUNTING
The financial statements of the Group have been prepared in ￿t￿[darKe A￿)Unting and Reporting by Chariti9S'.
Statement of Recommended Practice appSicable to charilies p￿pari￿j their accounts in accordance the Financial
Reporting Standard applicable in th8 UK and Republic of IrelaThJ IFRS 1021{effecbve 1 January2015)-Chaiities SORP IFRS
1021. the Financial Reporting Stsndattl applicalAe in the UK and Republic of Ireland IFRS 102}andthe CompaniesAct2(H)6.
They have been prepa￿d under the histOriCAI cost convention. rnodthwj to indude investments at fair value.
Monetary amounts in Ihese finanaal slatements rounded to Ihè nearest %thole £1.
The financi81 ststements are present&J in sterfing %thrch is also the funclional curYen¢y of the charyty.
Elmhurst Ballet School Trust meets the definitson of a public benefft entity Un￿ FRS 102 arKI has th8r9fore applied the
relevant public benefft reouirem¢nts of FRS 102.
BASIS OF CONSOLIDATION
These financial statements consolidats the financial stalernents of ElmhLbrst Ballet Schocl Trusl llhe Chartv) and tts
subsidiary. Elmhurst Enterprises Limited {￿e subsidrarfl all finanoal statements are made up to 31 Augusl.
The financial statements consolidate Ihe results of the Charity and rfs tholty 0￿ed subsidiary on a line-by-line basis. A
separate Statement of Finar￿181 Actiwb85 and statement0fcom￿hens1ye Incomeforthe Charity h8V8 notbeen presented
because the Charity has taken advantsge of the 8xernption afforded by Section 408 of the Companies Act 2006.
All intra￿roup trar￿ctiOnS, balances and ￿n￿lIsed gains on tranSa￿lOn$ b8fybpen Group entibes are elimlnatod on
Consolidation. Unrealiseil losses are also eliminated unless thetransaction prowdes e￿dence of an impainnentofthe assèl
transferred. Where twssary. adjLiStments a￿ made to the finanual statements of subsidiari85 lo bring the ac£ounting
policies used into line th those used by othgr m8mber5 of the Group.
GOING CONCERN
A8 a result of the Covid-19 pandemic the Tnjst embathe(J on a bu¥n8ss conbnuty plan to respond lo the changing
$nwronmenl. Postyearend results are pleasiTrJ in the contextofthe ￿st-p3ndeffl￿1a[mlsC8Pe￿ IheTwsthawiro retumed
to nomal levels of activity. Hamng carried out a detaI￿d wew ofthe Trust's t*)￿tiOn and rtsforecAsts atthg dale ofsigning
the accounts and with iegard to the Challenges presented by the current economicclimate. the Trustees are satisfied Ihatthe
Trust has suffiaent cash flows to meet its Itabiltti8s as they fall for at least one year from the date of approval of the
accounts. The Trustees cA)nsiderthatthe company has adequate r¢¢oursesto enable it lo Contin￿ in operdtional e￿$tenCe
for the foreseeable fvture and the accounts are therefore p￿pared on a g(xng concem basis.
INCOME
All income is included in the Statement of Finandal Aclivibes then the Grr>up is legalty enliued to the income. thero is
probability ofreceipt and the amount(xn be quantified *ilh reasonable accuracy. The followng specific pOl￿tesare appl￿d
lo parti¢ular ¢atsgorios of in¢ome:
Fees r9C81Vab￿ and charges for seThices are accounted for in the year in ￿1¢h the semce 1$ prowded. Fees
re￿1vable arè ststéd after (leductlng allowances, xholarships and other remissions allowed by thg Group.
Donations re¢eiwable forthe general purposes of the Group are credited to unrestrIct￿fijTrds. Donations subiectto
specifie wsh•s ofth8 donors are carried lo relevanl restricted fijnds.
Legacies ar& accounted for as Soon as entiUemenL wobabilty at)d M￿etary value (¥n bg estsblished.
Invtsstrnont income is recognised on an accruals bass.
Grants receivable lincludirKJ govemment grants) are recffjnised In the Statement of Financial Actiwties when the
conditions for receipt have been complied wth.
Rent and lettirrfJs income is recognised on a r￿1Vable ba￿s.
Other income is accounted for in the year in th¢ servir* Is provided.
19

ELMHURST BALLET SCHOOL TRUST
ACCOUNTING POLICIES (continued)
EXPENDITURE
Liabilitiesare recognised aSexpenditU￿ as soon asthere is a legal orwnstwctive Obl￿atiOn totranSfer￿MEebeneffit0 a
third party, il is probable thata transferof economic benefrts*ill be requi￿1 in setuemenl and the amount0ftheob1￿Jati0n can
be measured reliably. The followTng speciffic Oicies are applied to p3￿c￿lar (*tegoriès of èxp8ndtiur8'.
Costsof raising fundsare those cosls incuired in attraclirwJ voluntary income and thosè in¢urrod in trading actiwtres
that raise funds.
Charitable 8cb"wtiè$ in¢lude expen(liiure on providing educabon and Include both direct costs and Support costs
relating to the actiwty.
Supportcosts include central funclions and have been alkjcaledlo actiwtycostfalegoiies ona bass con&stentwith
the use of resources e.g. staff costs by the b.me spent and ¢)ther (x)sts by their usage.
All expenditure Is Indusive of irre¢overab19 VAT.
TAXATION
The Charity is considered lo pass the tests sel(wJt in Paragraph 1. Schedule6 of the FinanceAct2010 and therefo￿ it meets
th8 definition ofa charitablecompanyfor UK co￿)ration tsxpurposes. AccordiThJly, the Chaiity is potenti81tygxemplfromtax
In respect of income and cap4tal gains r8ceiveil within categories covered by part 11. chapter 3 of the Corporation Tax Act
2010 or section 256 of the Taxation ol Chargeable Gains Act 19W2, to the exient that such income or gains are applied
exclusively to charitable purposes.
FUND ACCOLINTING
General Un￿StriCted fvnds comprise the accumulated surplusss and defictts on general funds. Theyare available foruse at
the discretion of the Governors in r￿rtheran￿ of the gerteral charitable objecb￿S.
Designated fundscomwise unrfjstricled funds%thith have been set aside bythe GovemorsforparbcLtlar purposes. The aim
and use of such fijnds is set out Sn the finanu81 stat8m8nts.
Reslricled funds are created when grants and donats'onsare feceNed eFtherfora parbwl3rarea orpurpose, the use of ¥thlch
is restriclgd lo th81 area or purpose. Expenditure is charged to the Slatement of Finanual A¢tivib&s when inourred.
An endowmentfund has been established to fvrKI stholarships. The capilal is invested in perpetuity and underlhtr18rms of
the endowment, investment retums up lo 2011 forn part of th8 erKkwnenl capital.
TANGIBLE FIXED ASSETS
Tangible fixed assets are in￿alty measLtr&l at (xjst and subw4uenYy measur￿1 at cost. net of depreciation and any
impairment1055es.
Dgpreci8tion 1$ promded on 811 tangiblefixed assetsat rates calcJJlated tovAiteeath a&setdo•mto rfses1im8t￿ ￿dUal value
eventy over its expected usefvl lrfe. a$ follw&:_
Long leasehold buildings
Short leasehold Property
Fixtures, fitts'ngs and equipment (ger￿1)
Fithrgs and fittings Ithgatrel
75 yea
Leruth ofloaso
5- 10yeaYs
10 years
Assets in the course of eOnstruCti￿ are not dep￿lated unlil brought into use.
A reviewforimpaimenl of a fixed asset is carried out rfeventsorchanges in urcum*an¢gs indicalethal Ihg ¢8rrying valueof
anyfixed a$$et may not bo recover8ble. Shortfalls bets￿￿ the carrying value of fixed assets and their recoverable amounts
a￿ reco9nlsed as Impaimignt low$. Impatrments are recoJnised in the Statement of Financial Actiwties.
INVESTMEMrs
Initial inveslments are st8led attheirtrarEsaction V￿￿eand subsequenty measured atfairvaluo. Movwm8nts in the valuation
of Snitial investments are indudèd wthin g8ins and1058es in investment assets in the Statementof Finanual Activiti83. Fair
value is measured by reference to bid prices.
Inltsrests in subsKliaries are inibally meagjred at cost and subsequentty measLtr&l at less any impaimienl. An
assessment for impaim)ent is madg at eath re￿Ill¥j dale.
20

ELMHURST BALLET SCHOOL TRUST
ACCOUNTING POUCIES {c<)ntinu￿)
RETIREMENT BENEFITS
Retrrement benefits for ihe teaching staff of the Group are prO￿dÈd bytheTe8thers' Per¢sion Scheme ITPSI. The TPS is an
unfunded scherne. ContributionslotheTPS are calculated so asto spread IhÈcostof ￿n￿ons0verernplQyeeS'￿DrkEng lives
th the Group in such a way that the pension cost is a substsnlialty level percentage of current and future pensionablè
payroll. The contribLrtions are detemiined byth8 Gov8mmentActuary on the ba￿$Ofqu3d￿nnlal valuations a projected
unit method. The TPS is a multiomployersd)eme but suffi￿ent information is notavailable tc* use defined benefilaccounting
and therefore il is accounted for as a defined contrsbulion schewne. vthh the amount charged lo the Statement of Financial
Actiwties being the contributions payable in the year. Drfferences between contribulions payable in theye8Tand contiibubons
actualty paid are shown a5 etth8r accruals or prePa￿nents.
The Group also operates a defined conlribulion scheme forthe benefft ofris non-teaching stsff. Th8 pension cost charged in
the Statementof Finanaal Activities isth8 amountof ihe conlributionspayatrAe fortt)e year. DrfferenCeSbelb￿n (x)ntribubons
payable for the year and contr]￿￿On$ actualty P8KI are Sho￿ as either acuuals or prepaw71ents in the balar￿e sheet.
OPERATING LEASES
Alllgases aretrealed as operating leases onthe basisthalthe ￿asing agreemenlsdo noltransferlothe s(*0018ubstanti8lly
all of the risks and rewatds incidental lo ovmership. The annual rentsls ari&rYJ are Cha￿ed 10 th9 Stslemenl of Financial
Activities on a straight Ikne basis ovor tsrm of the lease.
ENTRANCE FEES AND DEPOSITS
Entrance fees and deposits are charged to studenls upon arrsval *thè sth￿l. Th8$9 are refvndable lo studentsvthgn they
leave the School unl85S there are unpaid fees in which case they a￿ us&J tr) supplemgnt these unpald fe8s. They a
the￿fOre held as a creditor until th8 students leave the School.
CASH AT BANK AND IN HAND
Cash at bank and in hand indwje monies held on short tem de[￿lts v*ith owiginaj maturity of three months or less
r8wnised bank$ 8nd butlding sW8ties.
STOCKS
stocks are valued al the I0￿r of cost and estimated sdliNJ prT¢8 less costs to wnplele and sell. Provision is made for
obsol8le and slow moving items.
FINANCIAL INSTRUMENTS
The Group has ethted to appfy the prowl￿On5 of Section 11 'Basic Financial Instrumenls. and Sedk)n 12'0ther FinancAal
Instruments Issues, of FRS 102. in full. to all of tts finan¢K41 instwrn&nts.
Financral assets and financial liabilstres are recognised vthen the Group becomes a patytolhe corthctual prowsions ofthe
instrument, and areoffsetonlywhen the Group currenty has a legally enforceable rightto sèt offlhè re￿nISed3rnOuntsand
Intends etttw to setho on a ngt b8w$. or lo realise the asset and setde the Ikabilty simurtaneously.
Financial assets
Trade deblcys, group debtcfs andotherdebt(YS
Trade debtors, group debtorsand otherdebtors linduding incornelwhKth8rp re(wblewiihin one yearand thiGfv do
not conslilul8 a financing Irdnsaction are initsalty Measu￿ at Ihe transaclion price and are subsequently rneasured al
amortised ¢ost, being the transaction less any amounts selded aThJ any hnpaim)ènt10s$85.
A provison for impaiment of trad$ debtors is established vknen there is objective ewdence that the amounts ijue wll not b&
collected according to the original temis of the ¢ontrath. lrnpainnenl losses are recognised in profft or loss forthe excess of
the carrying value of the trade debtor over the present valu8 of the future cash Ilows discounted using the original effective
interest r*e. Subsequent reversals ofan Impalm￿ntI0&$that(A4•r918I0tO 8n eventc#xuThirvJ afterthe impaimientl￿
was recognised, are recognised immediatety in profft or loss.
Finandal Ilabllittos and equ
Financlal instruments are dassified as liabilities and equity instruments a￿Or￿1￿ to the substance of the contradual
arrangemenis ente￿ into. An equty instrument isany COntr￿thateV7den￿S a residual interest in the assets of the Group
after deducting all of its liatrA1￿es.
Trade creditors, othercredith and acuuals
Trade creditors and other C￿rtorS linduding ac￿￿a[sI payab￿ vthin one ye8r that do not consliiute a financing
transaction are inrtially measured at the transaction price and subsequentty measureil 81 arniytised cost, being the
Iransacti¢)n price bss any amounts setsl•Y.
21

ELMHURST BALLET SCHOOL TRUST
ACCOUNTING POLICIES (Continued)
FINANCIAL INSTRUMEWS Icontinuedl
Derecognition of financial assets and IAabilitses
A financial asset is derecognised only when the contractual rights to Ca￿ flo￿8 expl￿ or are setued. or substsnlially all the
risks and rewards of ok￿erShip are transferred to anothef party. or rf some slgnificant risks and rewards of ownership are
retain8d but control of thè a5S6t hastransferred loanotherpaftythalis able tosell the asset in its entiretyto an Un￿latedthIrd
party. A financial liabAity lor partthereofj isderec(¥Jnis6d￿n IhedAwJakn inthe crntrdct isdischaTged, Can￿lled
or expires.
JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNcERTAI￿y
Estimat85 and judgernonls are continually evalu8led and are based on historical experience and other factors, in¢luding
expectations offirture events that are believffil to b8 re&wnable urKJerthe arcumstances. There are no critical accounting
estimates and areas ofjudgement to note.

ELMHURST BALLET SCHOOL TRUST
NOTES TO THE FINANCIAL STATEMEKrs
FOR THE YEAR ENDED 31 August 2021
SCHOOL ￿Es RECEIVABLE
2021
2020
School fees
L0&5: Totsl grant funding, bursaries and all￿+￿ar￿S
4.446.242
1752.9571
4,418,005
1782,0131
3.693.285
3.635,992
ANALYSIS OF TOTAL EXPENDmiRE
staff costs Other Oepredatlon
2021
2020
Ralslng funds:
Othèr fundraising (x)sts
27.801
230
28.031
11,509
Charitable activities:
Dlrèct costs..
Dance costs
Academic
Boariling
Property and domestic
Support costs of Schoollng:
Printing, postage. stationery
and telephone
Advertisng and marketing
Insurance
Bad debt prowson
Staff costs
other support o)sts
Goveman¢2 costs
1.235.181
702.418
424.554
212.704
308,085
87.895
26.381
414.783
1,543,266
790,313
1.050,935
901.799
1.580.861
813,879
994,054
976,422
274.312
26.104
50.019
35.523
15,942)
26,104
50.019
35.523
{5.942}
342.212
41.215
73,036
45,280
17.424
313.023
342212
21.639
46.941
69.119
2.938.708
1.639.852
274,312
4,852,872
4.983.161
Total expendlture
2.W.S19
1.640.082
274,312
4,880,￿3
4.994,670
Support costs have been allocated to cost Categ￿ on a basis consistent usè of rnsourc8s e.g. staff costs by
the time spgnt and other costs by their uswJe.
23

ELMHURST BALLEf SCHOOL TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 August 2021
EMPLOYEES
The average monthly number of [￿onS &mployod by the Gn)up duriru the yearvrds:
2021
No.
2020
No.
Total staff lathavfull tim¢ equivalontl
104175
104176
Split of full lirne equivalent by category.
Teaching
Support staff
Administration
38
26
11
41
26
75
76
2021
2020
staff costs wnsist ot.
W89&s and salarie$
Soual security costs
Employer contriblrtions to defined contribution schemes
other staff costs
2,421.993
210,284
295.382
38.850
2.319.178
206,500
299,269
20,592
2.986.509
2.845,539
Induded in other staff ojsls above are agency cosls of £1.65312020.. £8.4371.
Detsi18 of stsff re¢*ivi￿ remvn8r8tion lexduding employer pensIC￿ c4)sls) in excess of £￿).000 are shown bg10w.
2021
No. ofstaff
2020
No. ¢fstaff
£60,001-£70.000
£70.001-£80.000
£90.000- £100.000
Pension Costs in respect of the above employees totslled £51.33412020.. £49,418). Twv12020.' iwol higher paid
employees are accruino benefjis under the defined benefft pension s¢h8mtr.
None ofthe Governors recewed anyrernunerdtion in the curTentyearorpriof year. No Govemorswere relmbursed for
travel expenses in the current yearl2020: one Governor £174 for travel eynsesl.
Key management personnel are those haviro aulhoiity and respon&bilty. del&3at8(I to them ty th8 govemors. for
plannir¥J, directing and controlling the acbvibes of the Group.
RgmungratK)n ft)rk9y man8gemenl personnol. including ern￿oYe￿5 nationa ￿suran￿o)ntribUbC￿Sand cKJntributions
to the pension s¢heme. amount to £597.533 (2020.. £517.731).
24

ELMHURST BALLET SCHOOL TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 August 2021
PENSION COSTS
Certain of the Group's employees belong to the Teacthers. Pensi￿ Sd)eme lYPS"I.
T•ach•rs' Pènslon Sch•m•
The Teachers, Pensions Sch&me ITrS"l is a statutory. contri1)ul(￿. defined benefit scheme, govemed by thè
Teachers, Pensions Scheme Regulations 2014. The TPS is an unfunded scheme and members contribute on a'pay
as-yOU-go' basis. and along With employers. c￿tributions. are credlted tr) the Excheq(￿.
Valuation of the Teachers, Pensions Sch•m•
The Govemment Actuary, using normal actuarial principles, a formal actu8ri81 review of the TPS in
accordance with the Public Semce Pensions (Valuations and Employer Cost Capl D1￿CtionS 2014 published by HM
Treasury. The aim of the rwew is to specfy the level of fijture conbibutions. Actuarial scheme valuations are
dependent on assumptions a1￿ut the value of fvture costs, design of beneffts and many other factors. The latest
actuarial v8luation oftheTPS was carried O￿aS 8131 March 201fj a￿1 in wXx)rdan￿wthth8 Public SWvi￿ Pen*ons
(Valuations and Employercost Capl Directions 2014 ¢xcept it has been prepared foUobTring the GOv8mme￿rsdeCASIOn
to pause the operation ofthe cost control mechanisms at the time ￿ legal challenges were st511 pending.
The Wdluat¥)n reFKFrt was published in April 2019. The key resuKs of the valuatson and subsequent consultation are..
Totsl scheme liabilitsesfor8eNce (penS￿S currenuypayableand the esbmated cost offvture benefits)of
£218 billion
Vdlue of notion818ssets lestirnated fulure contiibutions t(yJether wih the proceeds from the notional
investments held at the valuation datel of £1% billion
Notional past service defi(it of £22 billion
Discount rate is 2.4% in excess of CPI
As a resutt of the valuation. newernployercontribubon rdtesmere setat 23.68% of pensionable pay from Septsmber
2019 onw8rds Icompared to 16.48% during 2018119.)
TheTPS is a Mu￿￿emPloYer plan and there is insjjffiuent informalion to accountforthe scheme as a defined beneft
plan so it is acojunted for as a defir￿ contritrHJtion plan.
2021
2020
Teachers, Pension Stheme ￿ntrIbutIon cost
257,285
259.262
There ￿Ere outstandin9 conffibuuons at 31 AUg(￿t 2021 of £29.798 {2020: £29.gni.
The TPS is a muHi-employer￿s1Jn plan and theTe t5 insufficient inf0m￿tiOn to acojuntforthe scheme as a defined
benefft penson plan so it is accounte(l as a deffir￿d wntsibulion plan.
Subsequentto the year end. follovAng a consultati(m th staff. the Govermys made a d￿Slon to leave the TPS and
offer an altemative defined contribution pension scheme vthh effeci from 1 April 2022.
The Group 818ooperates 2 defined Contributi￿ schemes for non-teaching staff. Forthe period employ8ro)ntribubons
were afixed ￿rr￿n￿ge ofs8laryb8twegn 3% and 16%.The Group has no FK)lential liabilty otherthanthe paymentof
all contributlons to an a&suranc6 c(Mmpany. Contribubons durirthJ the year amounM to £38.09612020.. £40,008).
NEf INCOkqE
2021
2020
Nel income is statsd 8fter tharying:
Operating 188s$ rèntsls..
Plant and machinery
Land and buildir
Auditors, remuneration
9.474
164.894
21,250
9,535
180,634
18,550
1,800
278,586
. for audit sefvices
- for taxation semces
Depreciation
274,312
25

ELMHURST BALLET SCHOOL TrUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 August 2021
INVESTMENT INCOME
2021
2020
Bank interest receivable
Investment income
491
146.621
4,997
119,050
147,112
124.047
TAXATION
Asthe Charity hasattained chaiitable status. thètrust￿S constdgrth8tthereis no irKxJme subjecttocorporabon tsxfor
th$ year end9d 31 August 2021. The subsidiary undertaking has a lax liabilty of £nil {2020'. £nill for the year.
TANGIBLE ASSETS
Long
leasehold
l)uilding9
Short
Fixtu￿$.
leasehold fittings and
property
equipmont
Elmhurst
EnterprSses
Ltd
Total
Charlty
Total
Group
COST
At I September2020
Additions
Disposals
15.743.888
53,367
1.889,173 17,686.428
19,204
19.204
5.124 17,691.552
19,204
At 31 August 2021
15,743.888
53.367
1.￿8,377 17.705.632
5.124
17,710.756
DEPRECtATION
At 1 September 2020
Charge for the year
Dispos818
3.(￿6,699
215.877
21.348
1.759.1&3
54.877
4.787.230
274.312
5.124
4,792,354
274,312
At 31 August 2021
3,222,576
24.9)6
1.814.oe4)
5.061.542
5.124
5,066.666
NET BOOKVALUE
At 31 August 2021
12.521.312
28.461
94.317 12,644,09)
12.644,090
At 31 August 2020
12.737.189
32,019
129.￿) 12.899.198
12,899.198
INVESTMENTS
Group
Chartty
2021
2020
2021
2020
Fair valtro at 1 September 2020
Additions al cost
Disposals prC￿eedS
Unrealised gainl{lossl
Reali8ed gainl{lossl on disposal
2.￿.471
635.738
1625,3121
521,456
20.816
3.132.078
627.683
{616.0041
{185.3611
11,925)
2,956.472
635.738
{625,3121
521,456
20,816
3.132,079
627.683
1616,0041
1185,3611
11,9251
Fair value at 31 August 2W21
3.509.169
2,956,471
3.509.170
2.956,472
Hi$lori¢ Cost at 31 A￿juSt 2021
2.803.842
2.822.404
2,803,841
2,822.403
The Charity holds an invesbnent of £112020: £1) re￿senting the ordinary Sha￿ capital of its subsidiary Elmhurst
Enterprises Limited which iseliminated in the Group. The remaining investments relate to £321,64312020.. £245,615)
held in the M&G Charifund Eq*Jity Investment Fund for char￿eS and investments managed by Harris Alklay of
£3,187,52612020". £2,710,856).

ELMHURST BALLET SCHOOL TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 August 2021
10.
DEBTORS
Gr(*up
Charity
2021
2020
2021
2020
Outstsnding f8e$
Amount due from trading subsidiary
Other deblors
Prepayments and acLrued income
15,737
1.196
15,737
37,821
107,088
147.463
1,196
22,440
101,608
224,696
112.933
147.463
107,149
224.fj96
276,133
333,041
308.109
349,940
11.
CREDETORS: Amounts falling due
within one year
Gre￿p
harÈty
2021
2020
2021
2020
Trade cr8ditors
Entrance fees refundabl8 and deposits
Other taxation and S￿la1 security
Other creditors
Accruals and deferred Ir￿￿e
143.106
328.124
58.824
53.970
297.319
188.6
220.199
54,695
43.519
405.688
137.262
328,124
59,681
53.970
295.519
188,674
220,199
54,906
43,519
390,888
881.343
912.791
874,556
898.186
Defèrrèd incom8 ¢omprisès incom& rwived in advan￿ for aided placas under the DADA scheme of £260,010
12020: £261.761} and fees and bursaries in advan(* of £nÉl {2020: £nil}.
Chartty and Group
2021
Movement on deferred income:
Oeferred incorne al 1 September 2020
Released in year
Def8rre(J in year
261,761
1261.7611
260,010
Deferred income at 31 Augusl 2021
260,010
27

ELMHURST BALLET SCHOOL TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 August 2021
12
FINANCIAL INSTRUMENTS
Group
Charity
2021
2020
2021
2020
The carying valtte of the Group's and
Charity's financial instruments at 31
August were..
Financial ass9ts=
Financial assets at fair walue
Fixed asset investmants
3.509.169
2.Y56.471
3.509,170
2,956,472
Total
3,509,169
2.956,471
3,509,170
2,956,472
13.
ENDOWMENT AND RESTRICTED FUNDS
Charity and Group
Brought
forward
Galnsl
{lossesl on Transfers
investments
Income
Expenditure
Carrled
forward
Endowrnent Funds
Scholarship
endowment
295,471
13.708
65,603
13,000)
371,782
Prlor Year
Charltyand Grnp
Brought
forward
Gainsl
Incom Expendlture Ilossesl on Transfers
Investments
Carri•d
forward
Endowment Funds
Scholarship
gndowm8nt
340.438
15.565
157,532}
13,0001
295,471
Under the te￿8 of p8rt of the endowTngnL inv85bnent reknm up until 2011 %bill form part of thg gfKlowment capital.
Investsnent in¢om¢ ro¢eived thereafter is lo be usedto fund scfM)larshEps. Thetran$ler￿presentsthelncOMtr used to
fvnd a sd)olarship during the year.
28

ELMHURST BALLET SCHOOL TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 August 2021
13.
ENDOWMENTAND RESTRICTED FUNDS {continuedl
Brought
fO￿ard
Carried
forward
Incom8
Expendlture
Transfèrs
Restri¢tgd Funds
DfE Grdnls
tknnations
29.263
92,793
29.263
98.793
100.740
194,7401
122.056
100,740
194.7401
128.056
Prtor Year
Brought
foThYard
arrled
forward
Income
Expenditurn
Transfers
Restrlcted Funds
DfE Grants
Donations
29263
69.183
29,263
92,793
111,710
{88.100}
98.446
111,710
(88.1001
122,056
DE Grants
These grants prowde towards thè costs of our outreach programme and refurbiShmenU￿placÈMent of equipment.
Transfers r8prgsenl capilalised spendirKJ Gompleted in line with the tems of the restriction.
Donatlons
This consists of several Slrball (k)nations vknich have be8n given lo the Chartty to b& usèd in a¢cor(18nce wth the
wishes of the (Sonors. Transfers represgnt caprialised spendiNJ COM￿￿18d in line with the tem)s of the restriction.
14. DESIGNATED FUNDS
Charltyand Group
Brought
forward
Carrled
Ineomg
Expendlture Transfèrs
Capit81 reserve
Repairs rgstrrvtr
12.769,208
2.600.(K)o
1219,4351
12,549.773
2,600,000
15.369.208
1219,435)
15,149,773
Prlor Y￿r
Charity and Group
Brought
fornard Income Exp•nditur¢ Transfers
Carrled
forward
Capital reserve
Repairs ieseNe
12.988.643
2.em.IXKI
{219,435}
12,769,208
2.600,000
15.588.643
{219,4351
15,369,208
The capital reserve repr&s&nts th8 investment in leaSe￿d land and buildings on the School gte. The transfer
represents the movement in the n¢1 iwk value of leasehold land and buildiros durirrfJ the year.
The repairs reseNe rgprosents monies Set￿defOrmaloI1￿￿Ist0the fabric of the building. Transfersrepresenlthe
monies set aside by the Governow5 duriTrJ the year.

ELMHURST BALLET SCHOOL TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 August 2021
15.
GENERAL RESERVE
Gr¢￿P
Chadty
2021
2020
2021
2020
At 1 Sept9mber2020
Net lexpenditurey income lor Ihe year
Transfer from capital reserve
Trdnsfef from endowment ￿SerV&
1.147.443
410.367
219.435
1.195.583
1270.5751
219,435
3.000
1,143.580
417,041
219.435
3.000
1,164,063
{242.918}
219.435
3,000
At 31 August 2021
1.780.245
1.147,443
1,783.056
1,143,580
COMMITMENTS UNDER OPERATING LEASES
2021
2020
At 31 August 2021, the Group and Charity had lotal future minimuffl 18ase
payments under norpcancellable op6rnting leases as fdhJws'.
Plant and machinery:
Amounts payable vthin 1 year
Amounts payable in 1 - 2 ytr¥
Amounts payable in 2- 5 yea
Amounts payable in rn0￿ than S years
Land and buildings..
Arnounts payable wAthin 1 year
Arnounts payable in 1- 2 years
Amounts payable in 2- 5 years
Ajmounts payablg in more than 5 years
9,504
2.376
2,376
179,885
179,885
518,313
)6,2XI
179,885
179,885
529,448
675.000
1,396,213
1.585.602
1Y.
ANALYSIS OF GROUP NET ASSEfs BETWEEN FUNDS
Unrnstrtrcl8d Restricted
funds
fvnds
Endowmènt
funds
Total
Fund balances at 31 August 2￿21 are
represented by..
Tangiblg fixed a&%ets
Fixed as$&t in￿Strne￿ts
Net current assets
12.644,0
3.187,526
1.098.402
12,644.090
3,509,1fj9
1,278.597
321,643
50.139
128.056
Total net assets
16.930.018
128.056
371.782
17,429,856
Prlor Year
Unrestrlcted Restriclod Endowment
funds
fund$
fvnds
Totsl
Fund balances at 31 August 2020 afe
reprasenled by-
Tangible fixed assets
Fixed asset Investrn8nts
Nel Current assets
12.899.198
2.714.816
2.637
12,899,198
2,956,471
1,078,509
241.655
53.816
122.056
Totsl net assets
16.516.651
122,056
295,471
16,934,178

ELMHURST BALLET SCHOOL TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 August 2021
17.
ANALYSIS OF CHARITY NET ASSETS BEfwEEN FUNDS
Unrttstricted Restricted
funds
fund$
Endowment
fvnds
Total
Fund bal8nc8s at 31 August 2021 are
represented by..
Tangible fixed assets
Fixed asset investments
Ngt current ass9ts
12,644,090
3.187.527
1.101.212
12,644,090
3,509,170
1,279,407
321.643
50,139
128.056
Total net assets
16.932.829
128.056
371.782
17.432,667
PriorYe8r
UnrgStricted
funds
Restrtcted
funds
Endowmènt
nds
T<)tal
Fund balances at 31 August 2020 are
represented by..
Tangible ffixed
Fixed asset investments
Net current assets
12.899.198
2.714.817
898.773
12,899.198
2.956,472
1.074,645
241.655
53.816
122,056
Totsl net awts
16.512.788
122.056
295.471
16,930.315
18.
CAPITAL COMMITMENTS
A$ al 31 August 2021. tho Group and Charity had o)nlractgJ capilal commitments of£nil12020.. £nill.
RECONCIUATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
Group
Charity
2021
2020
2021
2020
Net Incomellexpendlture} for the
reporting period
495,678
(288.9321
502.352
1261,275)
Adjv8trnents for.
DepreGralion ch8Tges
Lossesl19ainsl on invostrn8nts
Diwdends, Inte￿St and rents from
investmenis
Decreasel1inc￿aseI in debtors
IDecreaseyincrease in creditor5
274.312
15422721
1147.112}
278.586
187.286
(124.0471
274,312
1542.2721
1147.1121
278,586
187,286
1124,047)
.908
{31.4481
95,045
157.8151
41.831
{23,6301
73,259
(51.486}
Net cash pro￿ded byoperatlng acllvltles
1￿,066
90.123
105.481
102,321
20.
ANALYSIS OF CHANGES IN NET FUNDS
At start of
Cash ftows
At •nd of year
GROUP
Cash at bank and in hand
Notice Ileposits Iless than 3 months)
1,030,740
627,519
{176,9301
4tKJ.478
853,810
1.027,997
Total cash and cash equlvalents
1.658.259
223,548
1,881,807
31

ELMHURST BALLET SCHOOL TRUST
NOTES TO THE FINANCIAL STATEME
FOR THE YEAR ENDED 31 August 2021
20.
ANALYSIS OF CHANGES IN NET FUNDS Icontinuedl
At start of
Jear
Cash flows
At end of yaar
Chartty
Cash at bank and in hand
Notice deposits Il¢ss than 3 months)
995.372
627.519
(177,5151
400.478
817,857
1,027,997
Total cash and eash equivatents
1.622.891
222.963
1,845,854
21.
SUBSIDIARY COMPANY
The charilable company ovms the entire i&sued share raimlal OfEImh￿StE￿terpriseS Limited, a ￿)MpanY incorporated
in England and Wales Iregislered number044424391. The prinrApal activityof Elrnhursl Enterprises Limited is that of
pmwdiw facilities. The results of Elrnhu￿ Enterprises Limited are consolidated into the58 acGounts.
Forthe yearended 31 August2021. ElmhursiEnt$wpris88 LimiteLI re￿Ided ￿m0Ver0f £11,63912020:£26.626}, cost
of sales and expenses of£14.44812020'. £22.7621 less corporation tsx of £nil{2020= £nill gimng rise toa ￿trIned loss
tsf£2.80912020.' £3,864 profft). Ouring the yearlhe S￿￿diary£0mp3fiy has distributed £3,86412020'. £31.520ltothe
parent company in respect of 2020 proffts.
Net liabilities at 31 August 2021 were £2.80812020'. nel assets £3,865).
22.
RELATED PARTY TRANSACTK>NS
During the year. the Chartty Cha￿￿d Elmhurst Ente￿IlSe$ Limiied £3.37512020.. £11.ts341 in respB(A of staff costs.
catering costs and faulrties costs. At the year end, the Charity vras owed £37.821 {2020'. £22.4401 by Elrnhurst
Enterprises Limited.
J Harris, a govemorof Elmhurst 8811etSchod Trust, is also a direciorof Healthcare Claims Bur88u. During the year,
Healthcare Claims Bureau provided management and advice Servi￿ to Elmhtsrst Ballet Sch(KJl Trustamounling to
£15,12012020.' £15.120).
B LawT9nce, 8 governor of Elrnhurst Ballel School Tnjst. provided chorw4raphi¢ $8NCeS to Elmhurst Balletschool
Trust amounting to £1.202 durirvJ the year12020.' £nill.
M Baldwin, a govemorof ElmhurstBallet Sthc¥A Tm$( provid￿1 clu)r￿raphicseWViceS amounting10£1,600 during
the year12020'. £nill
DurfThJ Ihe prioryearH¢)ward Consutt8nts Limited pThided fijndrals￿JC0￿hancYSe￿￿Slo Etsnhur*Ballet Sch￿1
Trust. D Howa¥d. a director of HovArd Consultsnts Limited, becarne a governor of Elmhurst Ballet Sch(xJl Trust on 7
June 2018. Hovrdrd Consuttants Limiied prowded servir8s to Elmhurst Ballet School Trust amounling to £nil during
202112020." £22.338}. At the year eThJ. the Chaiity ovftd £nil12020.. £2.2651 lo Howard Consultants Limited.

ELMHURST BALLET SCHOOL TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 August 2021
23.
G0mPARATf￿E CONSOUDATED STATEMENT OF FINANCtALACTIVITES
Unrestslcted
Funds
Restricted Endowmènt
Funds
Fund
2020
Total
INCOME FROM:
Dona￿OnS and legades:
Donations
Charltable a¢tiviti8s=
School fees receivable
Syllabus classes incomè
Suwrner School fees
Grants receNable
Coronavirus Job Retention Scherne
Other trading activrtias..
School shows income
Rents ond lettings
other income
Investments
32.477
111.710
144,187
3.635,932
94,005
17.308
367.583
257.404
3.635,992
94,005
17,308
367,583
257.404
7.403
23.572
221.523
108.483
7.403
23.572
221,523
124.047
15.564
Totsl Incorn¥
4.765.750
111,710
15.564
4.893.024
EXPENDITURE ON:
Ralslng fund$
11.509
11,509
Charitable actlvltles
Schwl opgratiThJ costs
4.895.061
88.100
4,983,161
Total exwndlturn
4.9)6.570
88,1(KJ
4,994.670
NET IEXPENDITUREVINCOME
BEFORE NET GAINS ON
INVESTMENTS
{140,8201
23.610
15,584
(101,6461
Not I10ss8$ygalns on investments
1129.755}
{57,5311
(187,2861
NET {EXPENDITUREyINCOME
1270.575)
23,610
141.9671
{288,9321
TRANSFERS BETWEEN FUNDS
{3.000}
MOVEMENT IN FUNDS
{267.5751
23,610
{44,￿7)
1288.9321
Reconciliation of funds:
Funds brought forward al 1 September 2019
16.784,226
340.438
17.223,110
Funds carrled forward at 31 August 2020
16,516.651
122,056
295,471
16,934,178