2022-08-31-accounts

Company Number 2932822 Reglstered Charity Number. 1040286 ELMHURST BALL￿ SCHOOL TRUST IA CHARITABLE COMPANY UMrrED BY GUARApifEEI FINANCIAL STATEmE￿￿s FOR THE YEAR ENDED 31 AUGUST 2022

ELMHURST BALLET SCHOOL TRUST REPORT OF THE GOVERNORS FOR THE YEAR ENDED 31 August 2022 The Gov8moTS pr959ntth8iT annual reportand thefjnancial statements ofElrnhurstBallet SchoolTruslforthg yearended 31 August 2022 and confirn) that the latteT comply the requir8ments of the Companies Act 2006, thg Companys Memorandum and Articles of Association and the Charibgs SORP {FRS1021. REFERENCE AND ADMINISTRATIVE DETAILS The School is a charitable ojmpany incorporated in 1994, the liabilty of its mombors limtt8d to £1 ea¢h by guaTantee. Charity number. 1040286 Company number 2932￿22 Principal and R￿18t$r9d Offl¢8'. 249 Brlstr)l Road. Edgbaston. Bimbir¥Jharn, B5 7UH Directors The Governors are appointed by th8 Board and arè ts Directors of the Company and the Twstees of the Charity. Those Serv1r￿ in th8 ygar and sinc6 arè as follows.. J A Harris {Chaiman} P Bal(fvin IRg8igned 21 Oclobèr 2022} J Bryson S Butler {Res￿ned 29 September 20221 K CarNvright (Appointed 21 February 2022) P che8lem￿n S Evans J Hardy (Appointed 21 February 2022) B Lawrence M Lawrence IAppointsd 14 F6bwary 2023) l Lowe IAprKJinted 20 December 2022) A L Matthews M Wyon Key Executives and Profvsslonal AdvI￿r* Principal.. JAWard Director of Financg and Operallons.. L J Caddick Bankers-. Lloyds Bank plc, Queens Square. Wolverhampton. PO Box 1000. BX1 1LT Auditors-. RSM UKAudit LLP. Flvemiead House. 7 Lev+iS Court, Grove Park, Leicestsr, LE19 1SD Investment Managers.. EFG Harris Ajlday, 33 Grpat Ch8rf8s Str•e( Blrnilngham. B3 3JN STRUCTURE, GOVERNANCE AND MANAGEMEP Governlng Document The company is govemed by ils Memorarbjum and ATbdes of Asg)dation. last am8nded on 8 IAar¢h 2005. Govèrnino Body Th8 Directors, who are also requlred underthe A￿CIest0 serve as members of the Company, are elected at a fvll DiTector8' Meeting on thè basis of nominations receNed from e￿SlIng Directors conceming 81igibility. personal competsn¢è, spoualSst skills and local availabilty. New Govemors ar8 inducted intotheworkn￿$ ofthè Charityand the School. In¢luding Board policy and procedures, at an induction meeting which tskes pl8cg prior to the first ful18oard Meeting. Ml Governors are also encouraged to attend appropriate trainiThJ and lo serve on at least one of the School's SLEb￿mMItteeS.

ELMHURST BALLET SCHOOL TRUST REPORT OF THE GOVERNORS FOR THE YEAR ENDED 31 August 2022 Group Structure and Relatlonshlps The charity Ss Incorporated as a company limiled by guardntee and it3 ¢)per8tions afy governed by its Mgmorandum and Articles ofAssociation. The Mernorandum andArticles ofAssooiation imtx)sè ￿strictiOnS overthe income and propety ofthe company which are lo be appli8d solely towards thè promotion of the companys objects and not distributed by ¥Yay of dividend, bonus or otherws8 lo th& m8m￿rS. The memberfs liability on wnding up is limTted to £1. Elmhurst Enterprises Limited. a ￿01￿0Y￿ed subsidiary,wa8foTmed in 2002 and commen¢edtrading on 1 September2(KJ4. Its re8uIts, assets and liabiltlie8 are consolidatsd into th$sè accounts on a Ilne by line basis. RSsk Management The Board of Govgmors of Elmhurst is responsible for the rn8nwJgm8nt of th& risks faced by the School In Ilne the School's Risk Managernenl Policy. Detsiled wnsKJgTations of risk are delegated to the Finance, Facilities and Generdl Purp08es sub-committeg ofth8 main BoaTd. who are assisted bythe SeniorLeadership Team. Risks are identified, assessed and controls Èstablished for monTioring during the year. A formal Tewew of the charivs risk management processos 1$ undertaken on an annual basis and all sub-committees are requir8(I to r8POrt annually on th8 managèment of the risk associated with their particular area of govem8nc8. Th& key ¢ontrols used by the charSty Include:_ Formal agendas for all Board and Sub￿mmittee athity, Explicit Tems of Rele￿nce fr)r all Sut￿cOmmittees. Comprehensive plannlng, bLtdgetlrYJ and management acwuntirvJ', Established organisational sbwcknrns and lines of reporting., Formal vniil&n poliues.. Clear authorisation and approval levels., C19ar staff rècruthent policies. accordlThJ to best prdctice. for the protection of our students. Clearty, checks and sy3terns can onty prowde reasonable but not absolute assurance. Through the risk managernenl processes initiated by Elrnhursl, how&v8r, th8 Govemors arè satisfiedthatthe major risks have been identified and measures tak8n to appropriatsty mth.gate the rlsk as necessary. The Govemors considerthe major risk lo b8the impact of thg global fina￿31 marketandthPun￿rta1nbeS around B￿XItc0U1d resur( in chaTYJe8 to Governmontfvnding poli¢y and conskderabty gmterdrfficuty in accessing privatefvndiro. Thgfollow-on trffo¢t of this may bg insuffident numbers of students attendiThJ the School. OBJECTIVES AND AcnwnES FOR THE PUBLIC BENEFIT Thè Chartty's Obj8¢ts. 8$ $&t out In its Memorandum and ATbcles of Association, are the aLIvan￿ment of education, partieulady but not exclusivety, V￿th an emphasis on instruction in the perfOrrnlr￿ arts, including the prowsion of boarding andlor day schooling forchildren of both sexes. Wihin these obj8¢As, the Charity also hasto equip, fumish. fftup and maintain the buildings and to award priz88, bu￿aries and ￿holaT$hipS to Stu￿n[S as r&l6vant The School is support6d by the Govemmenys Music and Dance Scheme and the Dance and Drama Award, both ofwhich enable gifted yourKJ dancers from families oflimf(ed financial meansto b8nBfftfrom awtsTlddass v(￿tiOnal dance edu(2tion through the Provision of fvnded places. The onty way forsttJden151o ènterthe School is by auditr'on-this ensures that talent alone gives access lo th8 Sch(x)l. Th8 govèmm&nl-funded places are supplemented by scholaTships and bursaries from cornrnerce and privats donations. Addtbonalty, places are offered atfull fees, prowded thatthe applicantisjudgedto hav8th8 polentlal to succeed as a dasscal ballèt dancer. The Governors confirn that, to the best oflhe1rkno￿edY8 and belief, they have complied with Section 17 of the CharibesAGt 2011 in r88pect lo hawng du8 wartl to Public 88n8fft Guidance published by the Charity Commission. AIMS AND INTENDED IMPACT Elmhurst Ballet Schwl, inAs8ociationvth Biryningh8m Royal Ballet. iscommttted to the innovative, worfd4eading education of talented, pa85ionats 8nd commttted ygung ballèt dancers, wardless of theirffnancial cTrcurnstan￿s. The vision of Elmhurst Ballet School is lo shape the &Jucation and training of young d3ncers. Wework int8mallyto improve practice and wth otherorganisations nationaltyand intsmatKJn81yw)ssthedan￿ sthrto iMpro￿the outcomesforyouoq people engaged in dance training atthis level. Thg ￿h0o1 aims to support studènts in preparfrKJ for professional life a5 a dan￿r and secure èmployment on graduation. It makes this prO￿lS1On in close association BirnirwJham Ro￿1 Ballet. Thè links wth the Company develop yeaT on year and there are opportuniknesfor all studentsto engag8wt￿￿ths company in someway. Govemors and Staff haveworked hard to achieve re¢(yJntbon of tho btrngfft th& S¢hool brings lo Birningham and the West Midlands. artistic profile.

ELMHURST BALLET SCHOOL TRUST REPORT OF THE GOVERNORS FOR THE YEAR ENDED 31 AUGUST 2022 OBJECTIVES FOR THE YEAR Those objectivès are set out in the School Development Plan 2017- 2022. Studgnt Outcomgs Improve and sustain htgh level of student outcomes vthich demonstrate pmgress. D•ncè 100% of Graduates enter dance related employTrent orfvrther dance related trainiTW8ducation wthin 6 months ofgr8du8tion. 800A of Graduates enter dance TeFated eM￿0￿mentYthh1n 8 mnths ofgraduating IRolliTrJ 3 year average} 100% Trinty CouT8e Pass rate- Level 5 and Level 6 Diploma Increase the nurnir of sttjdents 8Ghiewng g(KKI or 1tt8r in their b81M 8pprdisal outcom8. Acad?mlc A(3demlo'. 85% 5 at GCSE includiThJ Maths & Erolish {Rolling 3 year averaae) 35% 7-9 at GCSE 100% A-E at A Level 65tsA A'.C at A Level Quallty of Tea¢hlng & Lèamlng 100YD of lessons delivered at Elmhurst are gocJ or outstanrfirvJ. Teaching is innovative, dTffeTentiated, dern8nds hyJh expe(abOr￿ of students and 18 consistent in its deliv8ry. Students ar8 8ncour8ged tts take ownership oftheir own lÈÈming. Quality of Students, PgTsonal Dgvèlopmen( Boarding. Hèalth and Wèllbèing Ensure the h1ghest standards of health, boarding and wellbeirKJ for sbjdents induding a reduction in injury rates. Further St￿ngthen and develop links parents. Continue to develop a coordinated approach to ensuro siudents, pewn81 and pmfessional development. Quallty of Leadershlp. Managernent and Governance Develop th8 Elmhurst brand and raise the Sch(M)I's Profile kJ(xlly. natlonalty and Intemationally. Develop the Association vthh Bimiingham Royal Ballet to improve the offer to all students. Recruié. retain and develop th8 hpJhest qualty staff. Develop Leadership C8pa¢ty at all Levtrls. Recruit and retrin the hSghest qualtty students to target studeni numbers of 190 (main school) and 150 {Elmhur81 Young DanceTS PryyJrammel. Increase th8 proportion of sthdtrnts rfjtsrn￿ at the end of each kgy st898. Ensur8 the highest qualty Df Govemance. To ensure the continued ffnancial security of the School. a￿miSe and develop the SchLxTrI's outstandiry knI￿es. STRATEGIES TO ACHIEVE THE YEAR'S OBJECTIVES Continueto develop and embed the Live. Danc8. Leam stTategyensuriThJ that indNJLHlrtyislluTbJred in all Elmhurst studènts. Continueto focuson thgquamy of tèathing. lèamlThJ and aSsè&sm￿I wr&&sthe cuniculumtoensurethe highestof standards are m$L Use evidence based P￿tice and TBsearch to inform our r8ViV•V of the curriculum and h&alth a￿1 wellboing offer. Develop the use of assessment data to help stsjdents prcJTess in all aspects of School lrfe. Emb8d tho Progrèss Leadèr roles tr) retaln and support the students at each key stage. Develop the mentoring program8 on offer to ensure shjdgnts are well supportgd at aaeh trans￿On point in th¢lr School life and to ensure the GrJduates have one to one SilPPOrt in their bid to $9curg empl(>ymertt. Ensure that a good Tange of dance professionals work wih students on a rdnge of subjects both in and out of the studio and classroom to support students understanding of the profession and their place wthin r(. Continue lo embed s&￿-hearth rn8nag8m8nt slrat8gi8s to support th&'Lfve' stratagy supportlng yOLtng dancers in being as healthy as they ¢an b&. FurtheT the recruitment strategy to increase 81udent numb8T5. Fostèr stud&ntindependence and involvementvthh the strateg1cdl￿tson of the Schoolma the studentTeaders, and School counclls. Refiect on al￿ monitor the h￿h qualty l)oardiThJ offerto ensurg that the School ￿S beyond compllance.

ELMHURST BALL￿ SCHOOL TRUST REPORT OF THE GOVERNORS FOR ThE YEAR ENDED 31 AUGUST 2022 STRATEGIES TO ACHIEVE THE YEAR'S OBJECTIVES (contInu￿) Embed the new Developmentteam to support all recruitment and fvndraising a6*vttyto build a 8U8tain8bl8 fund for student bursarfes and to fund the margin of exc8118n¢x. Ensur8 therts is a eomprehensfve site development plan lo ensure thalthe site isdeveloped and maintaineLI to high 8tsndards. Royal Patron The School is fortunate to receive the p8trona98 of Her Majesty Th8 Queen Consort, who, with His Majesty The King. first sited the School in September 2006. Her Majesty has subsequently tak8n a great interest in the School and is a keen supporter of its activitiès, Wgth"ng us agaln in December 2Tr)9, November 2014, January 2020 and mo81 recentty in March 2023. The Prfndpal has thoroughty enjoyed the Roydl engwJements that she has attended and is delighted by the genuing enthusiasm and commitment lo Elrnhu￿t 81udents d8monststwJ by Her M8i85ty. Patron$ from the Worfd of Classlcal Ballet Th8 School bgn9fiI5g￿auYfr0M the support of Maina GiekJud,' AO, Dame Merfe Parft., DBE, SiTPeterWrighl, CBE and Carfos Acosta who act as Vice-Presidents of ElmhuT31. In Fgbruary 2023 ElmhuTSt announ¢ed Wayn& Ma¢Gregor CBE as its President. This verypublic supportfrtjm ￿ch gminentballetexpets h&S(￿nS0￿8ted Elmhursfs placeas oneoftheforemost vocational ballet 8ch¢)ols in th8 county. STRATEGIC REPORT Empltsym•nt Su¢e•ss 15 outofthe Graduating 16 students{93%1 succeeded kn gaining employ)nentorfurtherdance relaled training. EmployTnent contracts included BiTmin9ham Royal Ballet, ortando Ballet, Ballet Vanemuin& EsEonia, Teatrul de Balet- Romania and thg Arts 8allèt Th&8tfft Sn Florida. 1 student was su(xes81ully employed by Rwal Carib1￿8￿ Cruises and 1 chos8 to 90 to Universty to study TV, Film and Stage Set Desun. R•crultm•nt All preliminary aud1tyonswe￿ ¢tsnducted Ma wdeo entyvth the exception ofsbjdents foryear7 who were invited in person. Succ888ful applicantswere then invited to physical semi-final audTbons al Elmhursl. Our ReGruitmenl Strategyinclud9s opon days and experience days to help prospective sludents understsnd the requirements * audtbon and th9$9 have proved extremely popular. Intsrnatlonal Engagements During 2021122, Robert Parkgrconbnued tr) affjudicate International comrEfftlonst)oth online and in-person. This includedthe Youth American Grand Prix- Rlcuonl and Tampa. Ihe Prix de Lausanne, the Global Dance Intemational cornp81((ion in Portugal. th8 Asian Elite Grand Prixand the Intemational Grand PrrAof SirvJaw)re. Ifirtual Japan aud￿0￿3 and rn8st8r-¢lasses took placeftom the Elmhurststudio theatre. Intemational mast6r¢lasses 8lsotook pla¢e overZ(x)mto Malaysia. Intemational visits lo USA also look place lo conneca and link schooL8 and (xJmpani8s. As a resuh, an InC￿aSe in International students was observed at auditions. Artlstic Perfornian¢oS The year 2021122 saw the retum of a complets run of perfom)an¢g$ 8(xoss the ￿Or followng the prewous yearfs cancellations due lo the Pandemic. Thè Wintèr p$rfonYtanee Includedthe￿O1e school and primarity consisted of pieces th8tW8reunableto bttp8rfomwd￿rtho previous Summer Shows. Choreographers included Birmingham Royal Ballet's Laura Day. New Advonture's Kerry Blggin. fom)er Rambert Ballet Director Mark Ballknn 3nd irtt8matK)nal ¢hore(uraphgr Pstgr LgUIVJ.

ELMHURST BALLET SCHOOL TRUST REPORT OF THE GOVERNORS FOR THE YEAR ENDED 31 AUGUST 2022 OUT Graduate students once again czme t(KJetheras Elmhuyst B8118t Companyto pèrforrn Imrners8, 8 mix of rgpartoire from the British Classics as well as ViSTting arbst5 and student choreogTaphy. They also underwent a two we8k residency wth Studio Wayne McGregor and perfornied excerptsfrom his award winning balletAtamos. Otherpieces included works by Sir David Binuey. Peter Leung. SirKenrteth Macmillan, Zak Nemorin and GeQYgeGar￿a. Perfomancestookplace in the Elmhurst Skndio Theatre and the Lillian Ba￿lsS Theatre in London. Elmhurst students were fomally Dance Track students were induded in a speaal 25thAnnwersary performance al the REP Theatre in Birniingham. They perfomied a spEual ￿MMi&￿n by Ruth Brill. The Summer Show8 2022 were also able to go ahead as planned and featured s&parate perfom)anees for senior and lower sohool as well aswhole school perfrjrniances and theannual fvndraisng gala perfomance. The programme entitledAscenL Involved the entire student population and provided them opporiunTbesto createwOrkv￿th extemal Chor￿Oraphers induding Jenna Lee. Laura Day, Morgann Runacre-Temple and Corey Bak8r. Twrtr Graduat& students perfrJmi8d a Pas de Oeux as part of the CDFff Virtual annual event. Graduate students perforned the Nutcracker Pas d8 Devx for tho Catthorp8 Christsna8 LvJhts &wtch on 8venL Graduate studènts pgrfomiod 4 pi8c8s for the 500 Club Nefv+rJthng lunch held at ElmhursL Graduat8 students performed at the Sadlerfs Wells thgatr8 in London 8long8idg 5 other UK W￿￿tional ballet 8¢hool$ in 8UPPOrt of the war in Ukrdine. In th& SummerBTeak, studentsfrom Ihe graduateyearand year 13 hadtheenormous privilege ofperfonniro allhe openiTYJ ceremony of the Commonweatth games attheAlexandra Stsdium in 8irTningham lo a stadium audienceof 30,000 p8opl&and televised to an estimated 3 billion. The work was choreographed by Corey Baker and also featured dancers from the Bimlngham Royal Ballot. Graduate students continued to perfonn in1fy21 primary and junKJr hty)1$ 8$ Part of the ElmhurBt Outreach pr(￿raMm￿. BRB and other Professlonal Company PerfOrnI￿CeS Graduate students were selected to perforn alongside the comwany in Sir Kenneth Macmillan's production of R0rn80 and Juliet at the Birmingharn Hippodrome Th88tre. Ovgr the Chrfstmas p&riod, year 7 ￿dents ElmhuTSt Young Dan￿rS were selected to Ferfom) in Sir Peter Wright's produdon of the Nutcracker. Year 12 students perforned at the Notbngham Royal co￿ert Hall and the Bimingham REP thtratr8 in a specSally commissioned production L)fCind6r811a byLaura Day. Itvrds perfomied alongside dancersofB1mlngham Royal 8alletforAn evening of music and dancè. One rnale graduate student was invTted to perfomi wlh Northem B8ll&tforth8lr pwdu¢tion of Gatsby. This fysulte(I In a full employment contract being offered. One female graduate studentwas Invited to perfonn wlhTeatrul de Balet in Siknu, Romaniafortheirproduction ofLa Fille Mal Gardee. This resulted in a fvll employinent contract being offeygd.

ELMHURST BALLET SCHOOL TRUST REPORT OF THE GOVERNORS FOR ThE YEAR ENDED 31 AUGUST 2022 Compotiti¢>n su￿$$ In thè yèar 2021r22, 1 femalg Upper School siudent rep￿sented the school at the ffin81s of thg prgstigitsus Prix d6 Lausanne Intemational Ballet Competition. 2 female Upper School sbjdents successfully progre￿ed tr) the finals of the Margot Fonteyn Ballet Avmrds virtual cornpebbon. A female sludent appeared in the grand final of the BBC Young Dancer Competition. InduBtry Insplratlon Ebony Th0rn88- Bal￿1 Black- Deliv8Ted Q+A vith year group$ thrtjughout the day, fr)cu&wng on his upbringlng, training and the transition lo lrfe in a profes&onal dance company. Daniela Cardirn- Choreographer and ProgTamme manager al NEBT- Obsery&J the Graduate sbjdents in ballet class a vi8w forfuiurg employment opportunities forthg 2022-23 wson. Antoine Vereeken- St. Wayne McGregor- ObseNedthe Graduate Ballet C1assv￿th amewto selecting appropiiate RepertOiTe for the EBC PerfO￿nanCeS. Carnion Plqu8ras- BRB RtrWiteur- Deliver8d a Graduate Balletic MockAudltion. Brdndon LawTence and Celine Gitten> BRB Priwpals- AdjLKllca￿ the Graduate Ballebc Mock AUdI￿On and prowded indiwdual feedback to the students. MareTommSThJas- Balletvanemulne Estonia- Obseryed the Graduate sbjdentsin balktoverZoomvAth aviewtoempknyment with the Company. Etta Murfitt-Associatè Artisti¢ Dirthr of NewAdv6ntures /Ashley Shaw- NewAdv¢nlur8$ Prin(ipal d8n¢or- Ob$8tved the Graduate students Sn Ballet class with to fijbjre engageMenty￿ the Company. Jam8s Lov811- Isaac Bowry- Gabrielle d8 Souza- Enwug NgtM)kola- Adv8nttJr88- Participated in a Q+A Sgsslon with Graduate students on lifo in the Company. JawerToTres Lopez- Finnish National Ballet- ObserveLlthe Grdduatg siudents in ballet overzoomwth aviewts)employm8nt with the Company. CarfosAcDsta (Arknslc Director) l Dominic Antonucci IAssistant Director) I Carmen Pwjueras (Repelteurk BRB- Observed Grdduate students in Ballet Class Vlith a viewto awarding the BRB Apprenticeship. Outstsndlng A¢•domi¢ Results Elmhurst admTis students solety on the basis of abifty and poterthl in classical ballet- and Is thèrèfo￿ not academically selective. Nevertheless, the School continues to achieve excellent acadernic results. Elmhurst continues to offer a fvll, enriching and relevant academic curriculum in both Lower Sohod and Upper School, being comrnitted lo the notion that thinking dancer8 make better dancers. The School 1$ also that studenls need to hav8 8 gwd ac3d8mic gTounding In preparatlr)n for lifg boyc¥nd dan¢iro, vA)atever that involves them doing. A vAde variety of option sublects a￿ available at GCSE level and all students take part in Enrichment activTbes eekly such as. financial awareness, study sknlls. crafts & sewng, gardening as well as many other options.

ELMHURST BALLEf SCHOOL TRUST REPORT OF THE GOVERNORS FOR THE YEAR ENDED 31 AUGUST 2022 Lower School Academlc Results 2022 In 2022, 22 Year 11 students were awarded results in 165 GCSE examinations{an average of over7.5 per sbjdenll. 55% of 811 GCSE entri83 wer8 8vBrdgd gradts$7-9 and 95*h ofsiudtrnts gained ffiveor more GCSES (including English and Mathsl at grades 4-9. GCSEIIGCSE Data 2022 2021 2020 2019 2018 % Entries awarded 9- 7 IA'_Al grades % Entries awartled 9- 4 IA".Cl grades Yo Students obtsining S+ IA"-Cl grddes 41 75 32 51 90 100 95 98 11JO 100 91 90 /0 Students obtaining 5+ IA"-Cl grddes including Maths and English 100 100 88 86 Cohort Size 26 22 24 21 Average number of GCSE &ntri85 p&r student 8.04 Upper school Academic Results 2022 STXth Form students at Elmhur8t study forA Lov81s 8k)ngsidg thgird8manrfing dan¢x training %hedul8. A Level Data 2022 2021 2020 2019 2018 % Entries avrarded A"-C grades % Entries awarded A"_E grades Cohort size 65 89 62 85 100 100 100 100 10 17 20 19 year rolling average % Entiies awarded A"£ grades 81 74 74 EPQ continues to attracitop grades. In 20r21 Ihere were seven entries. all thieving very hiqh grades includiro one A". five grade A and one B. In 21r22, one skndent entsred and attail￿d a grdde A. Health & Wellbolng Strategy Elmhurst's Hgatth and Wèllb6ingTeam aim tr) create an en￿￿￿mentIhatp[Dr￿tÈSsnd enh8ntssth8 heatth8ndw611bèiTvJ of all OLJrstudents as perfomilng arbsts, enabling them to achieve theirfijll potential and build heathy and sustslnable Ilves and careers. Elmhurst has fourkey strands lo ts Health and we1lbe1￿J strategy, these a￿. PTevention' earfyidentification.. prompt appropriate intervention and ongoing support. W8 aim lo trn$uTe wherovèrpossiblathe prevention ofinjury and illnèss.when issuès do arisgwe alm tr>ldentifythesè l$su88 os eartyas possible andthen in a coordinated vrdyto PTowde appropriale support and intervention. Interventions wll be monitrired and wewed foras long as they are needed. Our wsion is to provide outstanding physical and emotional care to all 8ludenls in a tirnely, sensitwe and supportiv8 manner. We achieve this byprowding oursludents a4x￿S to a￿lde range of emotional and physical support serwce$whi¢h in¢ludo. physiother8pists, a rghabilitabon export, a strength and ¢onditiL)ning coach. a ¢ounsgllor and mental heatth nurse. OUT Young Performers Health Trust continues to ensure that our sbjdents can obtain ouistanding heamh care support in a timely manner.

ELMHURST BALL￿ SCHOOL TRUST REPORT OF THE GOVERNORS FOR THE YEAR ENDED 31 AUGUST 2022 Outreach and Partnorshlp$ Enjoyrllent of, and participation in ballet, is in dang8r of be￿rni￿ tho of thg wealthy, as arts education is Inereasingly eroded In state sector schools. We are pa$$ionate about our Every year. we aim to workwth at leastthr88 state secior schools, to inspir8 an inter8St in ballet amongsi youTrJ aUdIen￿S who rnay never have consider8d ballet as a leisure activity or as a ￿Te&r, and to bdng them new arKI dNerse eygeriences. Wè also pa￿CIpate in communty events and perfvrrn with partneroyganisations such as care homes and hospitals, wh8Te residents may have few opporluntknes to $xp¢rience perfomiance aTL Typically our sohools, progrnmme consist of a series of workshops d8lNersd in situ. vrith opwjrtunlbes forthe thdentswho have parbelpated in the wothshops to o)me to ElmhuTSt tr> watch IN8 perfomianc&s. In 21122 we worked vriih over 390 young people in and around BirmiTrJham. FUTURE PLANS In 2023 ElmhuTSt ￿lebrate5 its centenaryyear, havlThJ been established in Camberfey, SuTrey in 1923. There h8ve been a numberof highly successful evènts postyear end and thesewll ￿ntinue throughoutthe 22f23 acadgmi¢year. We have also laun¢h9d our C9n19n8ry Campaign to raise fvnds to refurbi8h our studio th88tr9. Subsequent to the year end we have launth8d our 2022-2025 strategy. %w)rfoiThJ collabordtively with Govtrmors. Staff, students and PaTents to undgrstsnd what is most imp)rtanl in the training and education of young dancers. OurvI￿On forthe ftrture is Exceptional Dancers. Excwional Pwle"andthis isatthe heartof our plans forthe next 3years'. We putourstudents *the heart OfeverythIr￿ we do and fft lo m￿Mise potential by prowding rrfJorous. brilllant. inspirational opportuntbes that prepa￿S them for lrfe. We are passion81tr and pnud of our work and the e￿Ilence of the dance and 8cad8mi¢ out¢tsmes we achieve. We actively listen by dynamically researching, evolyiryJ and adaptirwJ our 81ite perfoTrn8noè en￿ronment to be 1oadirYJ-edge through wortd-class leaching. We ft)stera caring cuttu￿ thatis inclusNe, Ilemonslrat8sinlÈgrity. and peoplgare asplr2Uonal. energetically engaged and take ownership in M3￿Mis1n9 their own potential. We believe that talent is classless arKI we only erMJage th and teach top people vkno have the desire to ptsrforn eX￿ptionally. We demonstrate the couwe to queslSon. thallenge and change the C￿￿[al norns in the danc8 ￿￿TId. Aong wth thesg Stud8nt-¢antred alms. we arevK)rking t(hvanls incrp85ir¥J OUrst￿l9￿t numbers up to capa(ity. fr)cusing on the very best UK and intemational dance tslenL In addition we continue lo look fOrW8￿t0 tr￿Me moTe sustainable and have ptansto imiestin enerwffi¢i&nthea¥ng and cooling Systems throughout the scJ)ool.

ELMHURST BALL￿ SCHOOL TRUST REPORT OF THE GOVERNORS FOR THE YEAR ENDED 31 AUGUST 2022 FINANCIAL REVIEWAND RESULTS FOR THE YEAR The statement offinancial actiwties is set outon page 16 and shows tolal income of £4.971,18012021= £4.855.125lwhich Is 8n incTe8sg of2.4% compared y￿th the prioryear. School fee income increa5e¢J to £3.749.989 (2021: £3.693.285lvAth fees being discounted during thts b¢kdown period in th& priory&8r. Th& School's net expenditur8 before gains on investrnerts Wds £362,12412021- £25,778) due to some one￿ff staff and advisory costs. The School Continues to strive to in¢rease student numbers ￿lIst maintsining control of costs. Our tradtng subsidiary continu88 lo hirB out Elrnhu￿t School fa(llliiies durirg va¢xtions and weekends and activity has retumed to pr&Pand&mic levels. hwng mado a profft of £16285 (2021.. k)ss of £2.8091. FUNDRAISING STATEMENT Income generated thmugh lundraising is importsntto IhÈ sustainabilty of Elmhur Ba1181 School and weemployonefvll tim8 Fundraising Officer manages Dur fundraising strategy and targets. Funding and support (x)mes from trusts and foundations, companies and indiwduals. worknng Close￿ potential supporters to match Inte￿sts and moliv8titsnswU)the neods (Trf sludgnts. as well as organising regulartour5 and events to keep supporters connected wrth the school. We use a numberof dKferent channèlslo communicate￿ ourdonors, IrKaUdi￿ mail. érn81l,fa￿tQ-frdcefrjndraISlng, onlinegiwng and SOGial media. We artr rogister&d wtih the Fundrai￿ng Regulaloran¢J th8 Fundraising Preferen¢% Service. affinning our compliancewiththe Fundraising Regulator Co<18 of Fundraising PT3(c8. Wè do not cold-(311 or oold-mail the public. nor do we put undue pressure on people to donate. Our Fundraising Officer also attends regular meetings the Chartered Insll(ulg of Fundraising in order lo stay up to date wilh best practice wiihin fvndraising. We continue to comply wtth 81118gislativè and r8gulatory rèquirèrnents and ensure that ourwlicies. guidelines and pro￿Se$ are rewewed and updated regularty and that we comply fully with GDPR. We are p19ase(I to r￿[￿ that￿ havè not recgN8d 8ny complairts regarding ourfvndTai8ing practice during the year ended 31 August 2022. FUNDRAISING PERFORMANCE Donat]on8 Total donations were comparable to prior year at £121.428 (2￿21.. £128.￿}. Frfends In 2021122 we continued to pmmotg and dgv&ltsp th8 Friènds of Elmhurst Ballet School, 8 rn8mbeTship programme wh8r8 individuals can siqn up to SUPPDrt Elmhurst at a costof £30 ￿rindl￿dUal or£S0 per2 peopl&. Friends arts invitedto 8xcIu events throughout the year as well as receimng earfy access bookirrfJ to our annual shows. In 2022. we introdu¢&d a direct dgbil paym9rit so Friends automalicalty Tenew their mem￿￿h1pS each year. 500 Club In 2021122 ￿ continued to promote and develop the Elmhurst Balletschool 500 Club. where busn8$strs sign upto Support Elmhursl at a cost of £500 perannum and in exchaTrJe are inwtedto attend a numberof WP ne￿￿(ing events atthe school. This h8s pr(>vgd highly successful and we are our 500 memb8T5 to introdu¢% new contacts to the school and build back numbers that were IDst as a 19su￿ of th& pandemic. Trusts •nd Foundatigns We are very gratefvl forthe fvnding re￿Ned orpledged bygrdnt-making trusts and foundatTons towards bursary supportfor the stud&nlswho h8Vg been idenltfied as stnjggling wth the costs oftheir Elance training. During 2021122 ￿t￿resuCcessfiJl ln a number of funding application$to grant-making tmsts and frjundationsto support a rang8 of projects, including.. student bursaries, choreography. Elmhurst Youn9 Dancers Pr(YJTamme and outreach actiwties and performances. We continue to research and appty to grant-Triaking organisations to ir￿reaSe our effectiveness in this area. The Governors. Staff and Students would like to thank everyone has supported the School during 2021122. 10

FLMHURST BALLET SCHOOL TRUST REPORT OF THE GOVERNORS FOR ThE YEAR ENDED 31 AUGUST 2022 LETTINGS L8ttings of the SchcK)I's dance and COnferer￿ facil￿eS, largetyduring wa(3tions provid8d an addibon lo malnstream revenue of £77,70912021.' £7,2031. The majority of ourregular lettings wgr8 (xncelled in 2020r21 due to rethctions and uncertainty relating to Covid-19. W8 ar8 delighted that our Wings 8clivlty has (eturned to prwandemic levels in 2021122. KEY MANAGEMENT PERSONNEL The Governors consid8rkn8 Board DfGovemorsand the SeniorLeadershipTeam cornprisethe k8ymanagement pgtsonnel of the charity. Al Govemors give of their time freety and no Govemor rec8Tved ￿MuneratiOn in the year. The pay of the Senlor Leaders is mieknEd annualty and no￿allY irKr8a8eil atthe same rnle as pay In￿aSeS given to other staff. RESERVES At 31 August 2022, the School had £979,443 {2021'. £1.098,4021 of free ￿serVeS plus £2.6m {2021.. £2.6ml Idenufied frir longer temi investment. Free reserves are the group unrestrictgd net curTÈnt assèts. It remains the Govemors, po5icy lo accumulate a generdl reserve equNalent to up tolwotgnn'5 Tunning costs as an adequate level ofworking caprtal. Based on currenllgvels of expenditurg, thi$ would oquato to approximately £3.557.00012021.' fJ,254,LYJO). The School hasfvn despJnaled res8Tves. The d8swJn*8d capital reserve rep￿sentsthe netbook value ofthe ￿aSehOld land and buildirus. This wll be roleased overthe useful economic life of the land and buildirvJs. The design8led T8p8irs res8Tve represents moniès s6taside formajor repairstothe fabric of the building. Thiswill ￿ expgrKJed in 8ccordan￿With the repalTS and ma1ntsnan￿ prc4Jramme. GOING CONCERN During 2021122 the school inujrred some one-off staffing and athsory costsvthich impacted on ms￿sUmfOrtheYear. Sbjdent numbers were also lower than budget, atthough these incrwgd $ignificanty in September 2022 %then we started the year th 191 Iwmpared to an averagè of 174 in 2021r22}. The10&8 on revaluation of investments as at 31 August2022 18 relatgd tovnrkl eventsvAilch have impacted on global stock martets. The Govemors take a long48Tm wew on irNsslments a￿ not unduty concerned about short-term ffuctuation8. OUT cash posibon remains stroThJ {£2.3m at 22 May 2023) Looking fO￿ard to the next 12 months, we are deluhte(I thatourGovemmentfiJnding from the MDS and DaDA schernes has been confirrned forth8 aGadgmi¢ y&ar2023f24. 0urstudentr￿T￿itmentprOcesS has been extremely succe88ful onc8 again and 8lud6nt numbers are eX[￿Cted to increase further in September 2023. On this basis the Governors are satis￿￿ that it remains 8ppffyiats to draw Ltp the accounls forthe year ended 31 August 2022 on the going coTrncem ba8is. INVESTMENT POLICY Th8 School has prewously placed all donations to the er¥Jth￿nenI fund on detx)slt M & G Charifijnd V￿th the alm of funding fiJtUTe scholarships. Tho School's current Investment policy has been in place since 2014. Thg School seeksto producethe bestfinancial retum wSthin an acceptable level of risk. £2.5m has been passeil to a professional investsnentmanagerand isfvlly invested and has been Irealed as longert8rrn inv8thgnts. The Tnandatè isfora balance betsyeen capital and income on 8 medium lo high ri8k basis over a 18n ygar time horizon. The swJntfi(2nt gain on Tevaluation reflects th8 bounce pack of tho market ft>llowng its r8aolion lo tho Coronawrus global pandemic and is broadty in line vith the r818varit privat8 investor indlces provlded by the WMA but signhfcandy ahead of the FTSE 100. Any 8vailab16 cash held bythe Sch￿1 which is unlikety lo be rg]uired wthin 8 ¢J)uple of months is on shorttem dèposltwth Lloyds bank. 11

ELMHURST BALLET SCHOOL TRUST REPORT OF THE GOVERNORS FOR THE YEAR ENDED 31 AUGUST 2022 AUDITORS RSM UKAudtiLLP have indicatedtheirwllTrrunesSto b8￿8p[mInIed fcanothertem and appropri3rraThJomgntshave been put in pla￿ forthem to deem8d wN)ointed as auditors in the absen￿ ofan Annual G8neral Meèting. STATEMENT OF GOVERNORS. RESPONS181LTllES The Govtsmors (who are also diTectOTS of Elmhursl Ballet Sth(K>l Truslforthe PUTposes of company lawl are roswjnsible for pr8paring the Report of the Govemors and thg financial statements in accordance applicable law and Unlted Kingdom Accountiro Stsndards IUnrf(od Kingdom Generalfy Accepted Accounting Prdclicel. Company law requires the GovemoTslo pr8P8rB financial slatementsforeach financAaly8aTwhi¢h gfve a true and fairwewof the state of affaiT8 of Ihg ¢harttable company and the group and of the incorning rtrsourcès and application of resouTce8, including the in¢om8 and expenditu￿. of the charitable group for that P8riod. In preparing these financial statemenlg, thg Governors are required to.. Select 8Uitabl8 8¢¢ounting rx)licies and then app5y them ¢xJn5iStenty, ObsgTve the methods and principles in the Charibgs SORP- Make judgments and 88timatss th818r8 rsasonable and prudent. Prepare thefinancial slatements onthe goiro concem basis unless itis inappmpriateto presumethatthe charitable company wll conb"nuÈ in business. Th8 Govemors are responsble for keepsng prO￿r accoun15￿￿ recoTdsthat disclosewilh reasonable accuracy at anytimethe financial position of the Char[tab￿ company and enable them to ensure that thg financial statements compty the Companies Act 2006. Th8y are also responsible for safeguardiro thg 8wts ofthe charitsble company and th8 group and hence forlaking reasonable steps foT the prevention and detecthon of fraud and other irregulariti8S. STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS The Governors who were in Of￿ on Ihe dats of approval of these financial stalements hav8 ty)nfimed, as far as they are aware, that there is no relevant audit infom)ation of vthich the auditor5 are unaware. Each ofthe Governors have confinned that they have taken 811 the steps Ihat they ought to have taken as GovemoTS in order to make themselves aware of any relevant audit infomatlon and to establish that rt ha8 betrn ¢ommuni(3tsd to the auditor. The app of the Govemors is 8pprovgd by orderof the Board of Govemors and the Strategic Report (included therein) 18 y the Boar(l of Govèmors in their capaw as the director3 ata meeting on 22 May2023 and signed on its bahalf ed Ch GovemoTS Elmhurst Ballet School Trust 249 Bristol Road Edgbaslon Birtningham B5 7UH Dal8.' 22 May 2023 12

INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF ELMHURST BALLET SCHOOL TRUST Opinlon We have audited the financial statements of Elmhurst Ballet SchoolTrustlthe'parent charttable companll and its subsidiary Ilhe'group'lforth8 y8ar8nded 31 Augu5t2022 which comprise th8 Consolidated Stalementof Financial Activities (including Ineome and 9xpendthJr& ac¢ounll,thg Consolidated and CharityBalanc8 She8ts,ih8Con801id8ted and Ch8ThtyStstements of Cash Flows and notes to thefinancial statements, induding signthcant accounting policies. Theffinancial ￿pOrhngframewort{ that has been applied in their preparatTon is applicable law and United Kingdom Accounting Standards, including FRS 102 he Financial R8porting Stsndard appliixble in the UK and Republic of Ireland. (United Kingdom Generally Accepted Accounting Practic81. In our opinion the financial statements= give a true and fairwew of the state of thegroup's and the parent charitable companys affairs as at31 August 2022 and of the gTOUP'S inLX)ming resources and application of rexiuTces, includiro its income and expenditure, forthe year then 8nded', have b88n properfy PTBP8red in accordan￿ th Unit8d Kirudom Gen8fdlty A￿p18d A￿X)untir￿ Practice,. and have bgèn prèpared in awrdancè vth thè reouiremènts ofthg C¢)mpanigs Act 2006. Basis for opinion We conducted our audit in accordance WTth International Stsndards on AudTbng (UK) {ISAs IUKII and applicable law. Our responsibilities underthose standards are further d8s¢rib8d in the Auditorfs responsibil￿&S for the audit of the financial statements section of our report. We are independent ofthe group and parent ¢haTitab16 company in a¢¢ord8nce wlth tha ethical requirements that are relevant lo our audit of the financial statements in the UK. induding the FRC'S Ethical standard and we have fvhllled our other ethical responsibil￿e$ in aC￿rdance wilh these ￿quIreMents. We believe that the audit evidence we hav8 obtsined is 8ufficient 8nd 8ppropriale to proide a basrs foT OUT opinion. Concluslons relat5ng to golng concern In auditing the financial staternents, we have conduded that the trustees. Ltse ofthe golro concem basls of accounting in the prepaTation ofthe financAal statements is appropriate. Based on the work we havè perfomi¢d. we have not Identif￿ any material un¢ertsinties relatiw to evonts or condttlons that, individually OT collectively, may cast s¢gnfficant doubl on Ihe group's or parent charitsble company's abllrty to continue as a goirrfj concern for a period of al18ast ts¥elv8 months from when the finanaal ststements are authorised for iS8Ue. Our responsSbilities and the responsibilibes of the trustees wlh respect to going concem are descTlbed In the relevant 8ection8 of this retxirt. other InfOrMa￿On The other Infom)ation comprises the infomiation induded in the Annual Report other than the finanual statements and our auditorfs report thereon. The trustees are responsible forthe other infornation contained wthin the Annual Report. Our opinion on the financial statements does not coverth9 other information and, excepl to the extent otherwse eyplicitly stst9(l in our report, W8 (lo not 8xpr8ss anyfom of 8ssufdnce (x>ndusion thgrgon. Our respDnsibi1ty is to Tead the other inforn)ation and, in doiTrJ so. consider %thelher the Dther infom)alon is materially inconsistent with the financial ststernents OT our kno￿edge obtsined in the course of the audit or otheNse appears to be mat8rialty mi8Staled. If we identify such matsrial incorTrsist8n¢l8s or 8pp8renl material misststemenls, we are required to detemiin& vth8ther this gives ri$8 to a merial mlsstatement in the financial statements th8rnselves. If, based on thè worf( we have perfonyted. we conclude that there is a material misslatement of this 0th8r infomation. w arg r8quired to report Ihat fact. Wg h8ve nothing to r8FK)rt in thi8 WaTtI. Opinions on other matters Prescribed by the Compani86 Act 2006 In our opinion, based on the work undertaken in the COUT5e ofthe aud￿. the inforniation gwen in theTnJstees' Report, which includesthe Direclors. Reportandthe Strategic Report p￿pared forthe purposes ofcompany law. forthe financial y8arforvthich thefinancjal stslementsare prepared is consistent wth the financial ststernents,. and the DTrectors' Report and the Stratsgi¢ Report indudod vrithin the Trustees, Report have been preparad in a¢¢ordan¢e vth appli¢abl& bgal requlrements. Matters on whlch we are requlred to report by excoptlon In the light of the knowedge and undeTstsnding of the group and Ihe parent charitable company and their environment obtained in the cour8e of th8 audit, we have not id8ntifi8d m8tsri81 mi5statsments in the Directors, R8POrt or th8 Strategic Repc>rt included within the Trustatss. Réport. 13

INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF ELMHURST BALLET SCHOOL TRUST (continued) We have nothing to report in Tespectof thefollowrvJ Matters￿8r9 the Cornp8niesAd2006 requir88 Usto reportlo you If, In our opinion-. adequate accounting records have notbe8n k8pt bythe pargntth8rita￿(￿)Mpany, orrobJMs8(J￿uatef0ro(Iraudil have not beon r8(xtV8d from branches not WSTted by us" or thg PaTgnt¢haritsb19 companyffinancial statements are not in ag￿eMent￿th the accoun0￿￿ T￿rdS and retums; OT ¢ertain disclosuTg8 of trustees. Tgmun8vation specified by law are not made.. or we hav8 not Teceived all th8 infurtnation and explanations require for our audlt. Responsibillties Df trustees As explained more fully in the Statement of Trustees, ￿Sponsibl1￿￿&S set out on page 12, thè trusl86s (who are also the directors of the charitable company for the purwses of company law) are responsible for the preparalon of the financial statements and for belng satisfied that they gwe a true and fair iew, and for such intemal control as the trustees detemine is n￿SSary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In praparin9 the finanual statements. the trustees are responsble for assessing ihe group's and parent charitable company's ability to continue as a going concem, disclosing, as applicabl8, mattgr5 rela￿￿ to going concem and using the going concern basis of accounting unless th8 twstges e[￿&T intend to liquid8t8 th8 group or parent ¢haTitable company or lo ce88e OFWdtion8, or hav8 no rnalisti¢ allemative butto do so. Auditor's responsibilities for the audit of the finantyal statsmènts Our objectives are to Dbtain Teasonable assurdnce aboutvthetherlhe fin8n¢i8l stgments a$ a whole 8tyfr90 from matedal misstaternent. wh8therdu8to fraud orerror, and to issue an audito¢s reportthatincludes Duropinion. Reasonable assurance 18 8 high levgl of 8ssuranoe, but is not o guaranteethat an auditconducted in accordance wth ISAS IUKlwil1 always detecta material misstatement%hen rt e￿Sts. Mi&8tstements can arise from frdud OTerroTand are (X)n￿dered rnaterial rf, indmdually or In the aggregate. they could Teasonabty b8expectedto Influen￿the 8¢0nomicdgtysion$ofuser5 taken onth8 ba8isoflh6se financial statements. The extent to whlch the audlt was con51der￿ capablo of detéettng irr•gularib•s, Includlng fraud Irregularities are instances of non-compliance wth laws and regulabons. Th8 obj8ctiv8s of our audit are to obtain suffieient appropriate aud(( evidence regar(ling compliance wth laws and regulations that have a direct effèct on the detemiination of material amounts and disclosurès in thè ffinancial ststements. to perform audit procedures to help identify instances of non- eompliance with other laws and wulations that may have a malerial effect on the financial statements, and to T98pond appropriately to identified or suspecied norpo)mpliance vth laws and regulations identified during the audTt. In r913tion to fraud, the obie(ves of our audit are to idenbfy and assess the risk of material misstatement of the financial statements dueto fraud, to obtain sufficient appropriate audIteviden￿ regardingthe assessed risks ofmaterial misstslem8nl due to fraud through designing and impiementirKJ appropriate responses antl to ffjspond 8ppropriatslyto fraud OF suspe¢ted fraud identTfi8d during the audit. HO￿ver, it isth& primary responsibilty of management, with the overspJht of those charged vth governance, to ensurethal the entity's opBrations ar8 conducted in ac0)r￿an￿ wlh th8 provisions of laws an(J wulabons and forthe prevention and detection of fraud. In identilOng and 8$58ssing rfsks of matsrial misstatement in res￿ of irregUlar￿eS. induding fraud. the group audit ngagement team: obtslned an understandSTrJ of the nature ofthe sir, irKluding the IwJal and wulatoryframework Ihatthe group and parent charitable company operdtes in and howthe grtjup 8rxl paT8nlchaTiIAblo(x)mp8nyare Comp￿ryj wththe legal and r8gulalory framework., inquired of management, and those chargedvth goveman¢e. aboulth&lrown idontifi¢ation and assessmentof the risks of irregularities, including any knovm a(Xual. suspecled or alleged instances of fraud., discussed matters about non-compliancevth18¥k8 and regulations and howfraud mgMoccurlncluditYJ assessment of how and wh8rg th& fin8n¢ial statements be suwtible to fraud. As a result of these procedures we consider the rnost suntficant 18ws and regulations that have a direct IrnP8¢t on the financial slalements are FRS 102, Charitres SORP IFRS 1021, Companies Ac12006, CharifresAct2011, the parentcharbtable company's governing docum8nl, tax legislation and Char¥ti&s (Protection and Social Investmènt) Act 2016. We perfomied audit prO￿Oure8 to detect non-compliancès which may have a material impact on the financjal statements which included reviewng the financial statements including the Trustees. R8POrt, remaining 8lertlo new or unusual Irdnsactions which may not be in accordance V￿th the goveming documents, in8F>ectirffJ ￿rrFSp0n{Ionee wih lo(al tax authorib88 and gvalvatirMJ adwce recewed from intemavextemal advisoTS. 14

INDEPENDENT AUDtTORS' REPORT TO THE 1￿mBERs OF ELMHURST BALLET SCHOOL TRUST Icontinuedl The most signnlcanl laws and regulations that have an indirect impact on the ftnancial statements are The Education Ilndependenl School Standards) Regulations 2014, Keeping Children Safe in Education under sectirin 175 of the Education Act 2002, and thè UK Gèneral Data Protection Regulation (UK GDPRI. We perfomied audit procedures to irnquir8 of management and those charged wth governan￿ whether the charitable company is in compliance with these laws and regulations and inspected Corresponden￿ wth regulatory 3ulhoribe8. Th8 group audrfc engagemènt loam identified the risk of management override of controls as the areas wheTe the financi81 statements were most susceptible to material missiatement due tofraud. Audit prO￿dUreS performed included butwerè not 11mited to testing manual joumal entries and other adjustrnents. ev8luating the business rationale in ￿lation to slgnificanl, unusual transactions arKJ transactions 8nler8(l irrto oulsKle thè nomial course of business. A fijrther description of our ￿SponsIbl11￿eS for the audit of the financial statements is prowde(l on the Financial ReporNng Councll's website at h JlwM.frc.o .ukJaudTtorsres Onsibil￿eS. This description foms part of our audTiofs rerx)rt. Us8 of our r•port This report is made solely to the charitable cornpanls members. as a body, in aCCo￿an¢% with Chapl8r 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken 80 that we might state to ¢harTtable company's members those matterswe are required to 81ateto them in an auditovs report and forno other purpose. Tothefullestextentpemitted by law, w8 do not accept orassumg rgsponsibiltyto anyone otherthan the charitable companyand the charitable c£Jmpany's mernbgts as a body. for 0urauditw0￿, fr)r this Teport. or for the opinions we have formed. LSM uc I,1,6 LLP GARETH JONES ISenioT Statutory Auditor) For and on behalf of RSM UK AUDIT LLP. Stalutory Audrior Chartered Accountants Rivennead House Grove Parf 7 Lgwis Court Le]￿stEr LE19 1SD Date 31 May 2023 15

ELMHURST BALLET SCHOOL TRUST CONSOLIDATED STATEMENT OF FINANCIALACTtVmES (INCLUDING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 August 2022 Unrestrlcted Rethctèd Endowmgnt Funds Funds Fund 2022 Total 2021 Totsl INCOME FROM.. Donatlons andlogaclos: Donations Charitable actlvltles.. School lees re￿iv3b1e Syllabus classes income Sutnmer School feas Grants receivable COrona￿lrUsJ0b Retention sc￿ othor trading artivitigs.. School shows in￿rne Rents and lettings Other income Inv•stments 76.768 121,428 128,590 3,749,989 103.007 94,566 362,970 16.365 3.749,989 103,007 94,566 362,970 16,365 3,693,285 94,789 93,448 354,480 137,834 15.294 77,709 310,986 104.039 15.294 77.709 310,986 118.866 7,203 198,384 147,112 14.827 Total Incoma 4.879￿85 76.768 14,627 4,971,180 4.855.125 EXPENDITURE ON: Ralslng funds 28.813 28,613 28,030 Charttable activltles School operatiThJ costs 5.203.498 101.363 5,304,861 4.852.873 Totsl expenditure 5,232,111 101.363 5.333,474 4,880,￿3 NET IEXPENDITURElnNCOME BEFORE NET ILOSSESYGAINS ON INVESTMENTS 1352.526) {24.5951 14.￿27 1362.294} {25.7181 Net Iloss&syGAINS on inv98tments 1405.4591 {18,6661 1424,125} 521,456 NET {EXPENDrruREVINCOME {757.9851 {24.595) (3,8391 1786,419) 495,678 TRANSFERS BETWEEN FUNDS 13.15 4.700 11,700) 13.0001 NET MOVEMENT IN FUNDS (753.285) (26.2961 16.8391 1786,4191 495,678 Rgwn¢iliation of funds.. Funds brought foNiard at 1 September 2021 16.W30.018 128,056 371,782 17,429.856 16.934,178 Funds carrfed forward at 31 August 2022 16,176,733 101.761 364,943 16,643,437 17,429,856 16

ELMHURST BALL￿ SCHOOL TRUST CONSOLIDATED BALANCE SHEET AS AT 31 August 2022 Company Reglstratlon No. 2932tr22 2022 2021 FIXED ASSETS Tangible assèts Investsnents 12,415.222 3.096.058 12.644.090 3,509.169 15.511,280 16,153,259 CURREKf ASSETS Debtors Short temi deposits Cash at bank and in hand 10 305.427 1.228.735 491.269 276,133 1.027.997 853.810 2.025.431 2.157.940 CREDITORS.. Amounts falling dutr wthin one year 11 (893,2741 {881.3431 NET CURRENT ASSETS 1.132.157 1,276,597 TOTAL ASSETS LESS CURRENT LIABILITIES BEING NET ASSETS 16.643.437 17,429,856 FUNDS Endowment fvnds Restricted funds Unrestricted fijnds.. Designated reserves Generdl r85gTve 13 13 364,943 101,761 371,782 128.056 14 15 14.930,338 1,246,395 15.149.773 1,780,245 16.176.733 16,930,018 TOTAL FUNDS 16.643,437 17,429,856 The financial 8tstemgnts on p￿S 16 tr) 35 were approved and auihorised for issue by the Board of Gov8rn0ts on 22 May 2023 and slgngd b8low on fts behalf by. J Harris- Chair of Govemor¥ 17

ELMHURST BALLET SCHOOL TRUST CHARITf BALANCE SHE ASAT 31 August 2022 2022 2021 FIXED ASSETS TangSble assets Investments 12,415,T22 3.096.059 12.644.090 3.509,170 15.511.281 16,153,260 CURRENT ASSETS Debtors Short tern d8ptsstts Cash at bank and in hand 10 307,358 1.228.735 464.W29 308,109 1.027,997 817,857 2.001.022 2.153,963 CREDITORS: Amountsfalling due wthin one year 11 (882,342) {874,5561 NET CURRENT ASSETS 1,118,680 1.279,407 TOTAL ASSETS LESS CURRENT LIABILITIES BEING NET ASSETS 16.629.961 17,432,667 FUNDS Endowmont fvnds Rèstricled fvnds Unrestricted fvnds.. Designated rgserves General resèrve 13 13 364.943 101,761 371.782 128.056 14 15 14.930.338 1232.919 15,149,773 1.783.056 16.163.257 16,932,829 TOTAL FUNDS 16.629.961 17,432,667 Income of £4,914,909 {2021.. £4,850,725) rèlates to the parent undertaking. Expendtiur8 of £5.293,48812021.' £4,869,830) relatesto the partsnl undètsknng. leaMng a deficit priorto investmgntg8in$forthe financial year in the accounts of the par8nt undertaking of£378,579 {2021'. defidl of £19,105). Tha financial statements on pages 16 to 35 apprDv8d 8nd authorised for issue by the Board of Govemors on22 May 2023 and were signed below on Tts behaW by.. J Harris- Chair of Govemrs 18

ELMHURST BALLET SCHOOL TRUST CONSOLIDATED STATEMENT OF CASHFLOWS FOR THE YEAR ENDED 31 August 2022 2022 2021 Cash flows from operatlng actlTrlUes: Not cash lusod InYp￿d￿ by operating actlvitles 19 1241,878} 106,066 Cash )lows from investlng actl•At]es: Dividends and interest from investments Purchase of property, plant and equipmenl pr￿ed5 from salo of investm8r Purchase of Investments 115,053 {27,777} 312,324 {323,3381 143,830 119,2041 625,312 1635,7381 Nèt cash provldèd by invgsting actlvltte8 76,262 114,200 Cash flows froTn financlng actlvltles: Cash flows attributable to endowment 3.813 3.282 Net cash prO￿d•d byflnanclng activiti•s 3.813 3,282 Chang• in ¢a$h and cash •qulvalents In the s•ar (161,8031 223,548 Cash and cash equlvalents at th• b•glnnlng ol thg >p•r 1.881.807 1,658.259 Cash and eash •quival•nts at thg end of the ￿ar 20 1,720,004 1,881,807 19

ELf41HURST BALLET SCHOOL TRUST CHARITY STATEMENT OF CASHFLOWS FOR THE YEAR ENDED 31 August 2022 2022 2021 Cash flows from operatlng act5vttle8: Net cash lusgd inyprtivid•d by opèrn￿n9 xtlvltles 19 (232,265} 105,481 Cash flows from Investlng actlvStle8: Diwdonds and interest from investments Purchase of Property, plant and equipment PrO￿edS from sale of investments Purchase of investrnents 115,053 127,7771 312,324 {323,3381 143,830 119,2041 625,312 1635,7381 Net cash prowded by invostlng a¢Vv]tl•s 76.2V2 114.200 Cash fflows from financlng actlvldeB: Cash flows attribLrtable to endovmient 3,813 3.282 N?t cash P￿d$d by tlnanclng advltles 3,813 3,282 Change In cash and ca$h 4ulval•nts In th• y￿r {152.1￿) 222.963 Cash •nd eash 8qulvalents at the beglnnlng of the ￿ar 1,845,854 1,622,891 Cash and cash equlval•nts at th• ènd of tho ￿ar 20 1.693.664 1.845,854 20

ELMHURST BALLET SCHOOL TRUST ACCOUNTING POLICIES GENERAL INFORMATION ElmhuTsI Ballet School Tnjst I￿8 chariVI is a charitsble company limited byguarantee and is In￿rpOrated in England and W8195 ICornp8ny registration number 2932622 and charity number 10402861. The address of the Ch8TTty'$ registered offlce and principal place of business is 249 Bristol Road. Edgbasion. BirTningham. 85 7UH. The group consists of th8 d)arity and its one Sub￿dIary. ElmhuTsI Enteiprises Limited. The natu￿ of the group's operations are set out in thg R$ptsrt of the Gov&Tnors. The principal accounting policies adopted. juthJements and key source8 of estimation uncgrtainty in th$ preparatlon ofthe financial statements are as follows.. BASIS OF ACCOUNTING The financial stst&rn6nts of the Group have been prepared in accordance th Accountiro and Reporbng by Ch8ritles.' Statemènt of Recommended Practi￿ applicable lo charibes preparing theiT accounts in accordance the Financial Reporting Stsndard applicable in the UK and R$pUbl￿ of Ireland{FRS 102lleffective l January20151-Charities SORPIFRS 1021, the Financial Reporting Stsndard appIl￿ble in the UK and Republic OfI￿land IFRS 1021 and the CompaniesAct2006. They have been prepared underthe historical cost convenlion, modffied to include investments at fair value. Monetary amounts In these financial statements are round8d t(> the r￿are51 whole £1. The financial staternenls are presentsd in st8r%ing ￿1¢h is also fvnctional euffency ofthe charfty. Elrnhurst Ballet School Trust m•8ts the deffin￿on of a public benefft entity under FRS 102 and has therefore applied the relevant public b8nefft r8quirèments of FRS 102. BASIS OF CONSOLIDATION These finan¢i81 ststsments consolidate the financial statements of Elmhursl Ballet School Trust llho ChariWI and its sub$1di8ry, Elmhurst Enterprises Limited {Ihe subsKliarfl all ffinan¢ial ststemgnts arg mad& up to 31 August. The financial statements consolid818 the resutis ol the Charity and its ¥tholty ovmed subsidiary on a line-by4ine basis. A separa18 Ststernentof Finan¢ialActivities and Ststement ofComprehensNe Income forthe Charity have not btr$n pressntèd bo¢ausg thg Charity has taken advantage of the exemplKTrn alf(>Ttled by Se(lion 408 of the Compani6sAcl 2006. l intra-group transathns, balances and unrEalised gains on transactions bett￿en Group enbtres are eliminated on consolidation. Unrealised losses ar8 also eliminaled unTess thetrdnsaction prov¢des eviden￿ of an impairnent of th8 asset transferred. Wh&re nwssary, adjusbnents are made lo th8 finariGial statements of subsidi8ri8S to bring the accounting poli¢les used Into Ilne ¥%ith those used by other membtrrs of th$ Group. GOING CONCERN As a result of the cr)￿19 pandemlc the Tnjst embarf(ed on a business continuty plan to respond to the ¢h8nglng environment. Postyearènd ￿sUltS are pleasing in the wntext of the posl-pand8mic landscape￿7th Ihe TTUSth8wng retumed tr) norn)al levels of activty. Having carried out a detsiled re￿6W of thèTrusY$ position and ils frI￿C￿$t$ atthè date of signing the accounts and with Tegard lothe challenges près8nted bythe current economic climate. the Trustees are satisfiedthatthe Trusl has sufficient cash fiowE to meet tis liabil￿eS as they fall due for at least one year from the date of approval of th& accounts. The Trustees considèrthatthe Company has adequate recourses lo enable ttto continue in operational &xist&nce ft)r thè forèsoeablè fuiure and ￿ accounts are therefurp Prepar￿ on a going con¢xrn basis. INCOME l in¢orn& is includ8d in the Stalement of Financial AL*Mts8s vthen ihe GrDUP is IwJ8lly enbutrd to th8 income. th8re Is probabilty of ￿￿1pl and the amount can be qUantIfi$d4￿th r8asonabl&ac(wra¢y. Th&foll(wng specfficpollcies are applied to particular categories of income- Fees receivable and charges for s8Nces are ￿)unted for in the year in ￿lch the service is prowd8d. Fe88 receivable are ststed afttsr deducting allowdnces, schoLirships and other remissions allowed by the Group. Donations re￿Ivable forth8 96nèral Purposes of the Group are c￿dited to unrestricted fijnds. Donalions subj8¢AIo 5pectfic wshes ofthe donors are carried to relevdnt restricted fvnds. Legacies 8re 8c¢ounted frjr as soon as entilemenl, probability and monetary value can be establishod. Investrnenl incorn8 is recognised on an accruals basis. Grants receivable (including govemment grants) are ¥eo)gnised in the Statement of Financial Activth8s wh8n the cOnd￿on$ for ra¢eipt have been complied ¥hith. Rent and 18tbng$ incomè Is recognised on a TeceNable basis. other income is accounted for in th8 y8ar in bthlch the se￿￿ is provided. 21

ELMHURST BALL￿ SCHOOL TRUST AccouKfiNG POLICIES {eontlrtu•dl EXPENDITURE Liabiliti88 are recognised as expenditure as Soon 8sthère is 8 legal orconstruetive obfBJation totransf&r8conomicbèneffttoB third paty. tti$ probable that a transfvrof economic benefftwill be wuired in Se￿ementand the amountoftheobligation can be measured rellabty. The follovlng swfic poltaes are applied to particular categories of eypendilure.. Costs Dfraising fvnds arethose costs incurred in atracling voluntaryino)me and those incurred in trdding activ￿83 that rdise fvnds. Charitable actiwties include expendiiure on pr[s￿dIng eilu¢xbon 8nd i[￿]ut1¥ ly)th diTe¢A ￿$ts and support wsts relating to the acbvtty. Supportcosts includ8 central fun¢bortsand have been altrxxted to&*vltycost•orieson a basis ¢onsistant th8 usa Df r8sOurc￿ e.g. staff costs by the time spent and othercosts by their usage. All expenditure is indusiv8 of irre(x)verdbte VAT. TAXATrON The Charity is considered to passthetests sel out in Paragraph 1, sthtrdu￿ 6 of the Financ8Act 2010 and therefore itmeets the defin￿0￿ of a charitsble companyforUK COTporation tax purposès. Accordingly. th8 Charity is potentially8x8mplfrom tax in resp8cI of incorTte and capital gains received within categories covered by part 11, chapter 3 of thè Corporation Tax Act 2010 or section 256 of the Taxation of Chargeable Gains Act 1992. to the extent that such incLsme or gains a￿ applied exdusively to charitable purposes. FUND ACCOUNTING General unTestricted fvnds comprise the accurnu1a￿ 8urplusg5 and tJ&ficit8 on general funds. They are available foruse at th8 di8cr8tion of the Governors in ftjrtherance of thg genèral d)arttable obieclives. D6signatedfiJndseompris@ unrèstricted fijndswhich have been set aside bythe Govemorsforparticularpurposes. The aim and use of SLtGh fijnds is set out in the financjal statements. Restrictsdfunds ar8 created when grdnls and donationsare received eilherfora paTtcular area or purpose, thtr use ofvthich 1$ rèstricted to that arèa or purpo￿. Expenditure is charged to the Slatement of Financial Actiwties ¥then incurred. An endovrnentfijnd has been established to scholar8hips. The c8pital r6 invested in perpeknty and underthe18rn8 of the endovKnent, investment Tetums up to 2011 form part oftha endowment capttal. TANGIBLE FIXED ASSETS Tangible fixed assets are in￿al￿ me&wr8d 81 (x)st and subsequenlly measured ai cost, net of d8pr8¢iation and any impaimiènt10ssoS. Depreciation is provided on all taroiblefixed assetsal rates ca1￿la￿ tO￿1t8eath as8etdTrhn tOTtsestimat&J ￿dual￿al evenly over its expected usefvl lrfe. as follows-_ Long 18a8ehold buildings Short lèas&holrl propety F￿lUreS. frttings and equlpment Igenerall Fixtures and fittings ltheatrel 75 years Len￿ ol lease 5- 10years 10 years Assets in th8 cours8 of constwcbon arB not (Jepreciatèd unUI brought into use. A reviewfor impaiment ofa fixed asset is carried out rfevtrrts orChang￿ in urcumstan¢8s indicatsthatthe carryiry valueof any fixed asset may not be recoverable. Shortralls bgtsveen the ca￿￿ng value offixed assets and their recoverabl8 amounts 8rè ￿CogniSed as imp8irn18nt losses. Impaimients are rwnised in the Staternenl of Financial Activiti&s. INVESTMENTS Inttial investrnents are stsled al Iheirtrans8¢tion value and subsequenty measured atfairvalue. Movements in thevaluation of initial invostments are In¢lUd￿ wthin gains and lossos in investment assets in the Statsment of Financial Activities. Fair value is measured by reference to bid prices. Interests in subsidiaries are inthally mèasurèd at cost and subsequenty measured at cost less any Impalmient. An assessment for impaim)ent Is made at each reporbng date. 22

ELMHURST BALLET SCHOOL TRUST ACCOUNTING POLICIES I￿ntinued) RETIREMENT BENEFITS Retirement benefitsloT theteaching staff of the Group were p¥wde(I bYth8T88Chè￿, P8nsion Schgme (TPSI until 31 March 2022. The TPS is an unfunded scherne. Contributions to the TPS are calculated so as to spread th& cost of pensions over 8mployees' working Iiv8S Wtththe Group in such a waythatlhe pensK#) cost is a substantialty level percentage ofcurrenl and fvt￿￿ pensionable payroll. The contributions are determined by the Government Actuary on the basis of quadrennial valuations using a Projected unit method. The TPS is a mU￿-emPloYeT scheme but suffiryenl inforrn8tion is not available to use defined b8nefitaccounting and ther8forg tt is •ocountedfor as a defined contribubon gtheme,wlhthe amount charged to th8 Slaternentof FinancialAotivtb8s b8ing Ihe contribubons payable in Ihe year. Differen￿S be￿enCOntributiOns payablein thè year and contributions actual￿ paid are shown as either accruals OT pr8payments. The GTQUP operal&s2 d8fiT)ed conlribubon schemesforthe ￿nefft01its non-teaching staff. Frorn 1 April 2022 teachers5￿re enrolled into a third defined contribution scheme. The pension cost charged in the Sts18menl of Financial Actiwlies is th8 amount ofthe contributions payable for the year. Dtfferences b8tsYe8n conthbutions pay8bl8 for thg y8ar and contributions actually paid are sh¢)wn as either accruals or prepayments in the balance sheet. OPERATING LEASES All leases are treated as operating leases on the basis thatthe leasing agreements do nottransfertothe school substantially all of the risks and rewards incidental to owneTship. The annual r8ntals ari$ing are charged tc¥ the Statement of Flnancial Activities on a straight line basi8 over the ttrm of th8 lèase. ENTRANCE FEES AND DEposrrs Entrance fees and deposits a￿ charged to students upon arriwal atth8 School. These are refundable to studgnts when they leave the SchoL)l unless Ih8Te are unpaid fees in vknich casè they a￿ used to supplement these unpaid fees. They are ther8fore held as a ¢Te(ITtor until the stud&nts18av& th& School. CASH AT BANK AND IN HAND Cash at bank and in hand include monies held on short term dgposits ¥￿th origlnal maturfty of thyge months or1&&8 wlth recogni8ed banks and building 80cieties. STOCKS Stocks a￿ valued at the lo￿1 of cost and estimated S81￿r￿ pri￿18￿8 costs to (x)mpl8te and sell. Prow8ion is m8d8 for obsolete and ￿0W mowng items. FINANCIAL INSTRUMEKrs The Group has elected lo apply the pmMsions of Section 11 'Ba￿C FinaniyaS Instnjments. 3nd Section 12 '0ther Financial Instruments Issues. of FRS 102, in fvll, to all of its financial instwmerts. Financial assets and financi81 liabilities are recognised when the Grnup becomes a partyto th8 contractual provisions of the instrument. and a￿offSet0nIYWhen the Group currenlty has a legaltyenforceable rightlo set off the Tewgnised amounts and Intènds eStheT to setue on a net basis. OT to Tealise the asset and settle the liability simullangously. Financial assets Trade debtors, group debt(Y$ 8nd Otherdeb1￿s Trdd8 debtors, group debloTS and otherd8btors lincludirKJ acuwj inu)mel%thich are ￿NablewIthin or£ yeafand￿th do not constitute a financing transaction are in￿al￿ measured at the transaction price and are subsequenty measuTed al amoTtsed cost, being the transaction price less any amounts sewed arKI any impairment Ioss88. A provision for impairnent of trade debtors is establish￿ vthgn is oblectfve 8vld&nc￿ that the amounts due ￿11 not be collected accordiru to the original leTrnS of the contract. Impaiment losses are recognised in profft or loss forthe excess of the carrying value of the trad8 debtor overthe present value ofthe ILrture cash flows discounted using the original effectwe intere rate. Subsequentreversals ofan impaimient Iossthatobj￿ti¥ety relate to an eventL￿Um￿g afteTth8 irnpaimientlo3¥ was recognTsed, are reccgnised immedRtsty in profft or1085. Flnancial liabilibes and 8quity Financial instrumonts arg ¢la$$tfigd 8$ liabilrfles and equity inslrumenls according to the substance of the contractual arrangements entered into. An equty instrwmentisany conlTactthat eTridenLwa Tesidual int8re8tin the assets of the Group aftèr deducting all of its liabil￿e$. Trade credilcys, dher C￿111￿ and8c(¥uals Trade creditors and other creditoT5 (including a¢xrualsl payabits wthin one yearthat do not constitute a ffinanong transaction are inttially m8asured at thg tr8nsa(*on pri¢& and subsequenlly measured at amortised cosL being the transaction price less any amounts setlled. 23

ELMHURST BALLET SCHOOL TRUST ACCOUNTING POLICIES {c¢ntinu•dl FINANCIAL INSTRUMEWS Icontinu8d} D6rgcognltlon of finanual assets and li8ts1rfiès A finoneial asset is derecognised onlywhen thg contractual rfghts to cash flows expire or are S8ttTe(l. or substantially all the risks and rewards of ownership are transferred to another party, or rf some sWJntfi￿ftt rlsks and rewards of ownership aro retained but control of th8 asset has transferred to anotherpartythat is able lo sell the asset in its entiretyto an unrelal8d third party. Afinancial Ilability{orpartthereof) is derec(vJnised %th8nthe r*)113akn swfi&J inlheo)ntraclis discharged, ￿ncelled or expires. JUDGEMENTS AND KEY SOURCES OF EST[￿TIoN UNCEFUAIMrY Estimates and judgements are continually evaluated and are based on histor￿& experience and other facloTS, inoluding exp8dations OffUtu￿ events that are believed lo be wsonable ￿￿ler the urcumstan¢x. There are no ¢rib¢al accounting estimatès and areas oljudgement to note. 24

ELMHURST BALLET SCHOOL TRUST NOTES TO ThE FINANCIAL STATEMEp¥rs FOR THE YEAR ENDED 31 Augvst 2022 SCHOOL FEES RECEIVABLE 2022 2021 School fetss Less.. Totsl grnntfvnding. buT8aries and allcwances 4,311.045 1561.056} 4,446,242 1752.9571 3,749,989 3.693,285 ANALYSIS OF TOTAL EXPENDtnJRE prnclatlon 2022 2021 Ral$lng funds: Oth8rfundraising costs 24,346 4.267 28.613 28,031 Charftable actmtles.. Dlr•et eo¥ts: Dance costs Academic Boarding PToperty and domestrc Support costs of Schaoling: Printing. 5X>Stag$. ststionery and telephone Advertising and marketiThJ Insurance Bad debt pmMsk)n staff costs Other support costs Governance ￿sts 1.243,603 700.520 432,280 216.688 29B.242 78,353 797.845 488.523 1,541,845 778,873 1,230,125 983,876 1,543.266 790,313 1,050,935 901,799 278.665 28,094 52.205 43.648 28,094 52.205 43,648 6,000 335.968 106,188 198.039 26,104 50,019 35.523 {5,9421 342,212 50,063 68.580 106.188 178.442 19.597 2.948.656 2.077.540 278.865 5.304,861 4,852,872 Total •xp¥nditUT 2.973.002 2,081.807 278,665 6,333.474 4,880,903 Support costs have been alloc4ted to cost cat￿Ories on a ba￿S conslstentwth use of re￿UrceS e.g. staff costs by the time spent and other costs by their usage. 25

ELMHURST BALLET SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2022 EMPLOYEES Th8 average monthty number of persons employed by Ihe Group during Ihe yearwas.. 2022 No. 2021 No. Totsl staff laclualllull tim8 equNalent} 101173 104175 Splf( of fvll *me equivalent by catego￿. Admini8tration Teaching Support staff 10 11 38 26 25 73 75 2022 2021 Staff ¢osts consi8t otr. Wages and salari&s Social security costs Employer contributions to defined o)ntribution schemes Othgr stsff Gosls 2,367.611 220.603 269,523 115.265 2,421,993 210,284 295,382 38,850 2,973,002 2,966,509 In¢lud8d in other stsff costs above are ￿encY staff ¢osts of £110,16712021: £1,653). Details of staff receivlng Yemunuation lexdudirvJ employer pension costs) In excsss of £60,000 shown bèlow. 2022 No. ot stsff 2021 No. of staff £80,001-£70,000 £70,001-£80,000 £90,000- £100,000 £100.000 - £110,000 Pension costs in respeca of the above employees tot211ed £58.02312021'. £51,3341. Thrg812021: two) higher pald ernployees were accruing beneffts under the defined benefft pension scheme until 31 March 2022. Non& of th& Gov8TnoTr anyfvmunoration in the Currgntygarorprioryear. No Govemorswere reimbursed for travel Èxpenses in tho ¢urr&nt year12021: none). Kay management personnel are hawng authority and ￿spon￿bIlIty, delegated to them by the govemors, for planning, diwti￿ and controlling thg a(Ji￿￿6S of th8 Group. Remuneration forkey management personn81. indudiThJ employerfs national insuranceconbthtstions and contsfjbutlDns to the pension Scheme, amount lo £599.79412021- £597,533). 26

ELMHURST BALLEf SCHOOL TRUST NOTES TO THE FINANCIAL STATEMEp¥rs FOR THE YEAR ENDED 31 Au9USt 2022 PENSION COSTS Certain of the Group's employees beksTrJed to the Teachers. Pension Scheme ITrS'I until 31 March 2022. T•ach8rs' Penslon Sch•m8 Thè Teachers, Pensions Scheme ITrS"I Is a statutory. ￿nti1bUt0ry. defined benefit scheme, govemed by the Teachers, Pensions Scheme Regulations 2014. The TPS is an unfunded scheme and members conknbute on a'pay as.you4Jo' baws, and along wilh employeTS' contribution8, are crwjited to the Exchw4uer. valua￿on ofthe Teachers, Penslons Scheme The Govemment Aciuary, using nomal aciuarial prinaples, conducts a foThal atharial revlew of the TPS in accordance wth the Public servi￿ Pensions (Valuations and Employer Cost Capl Directions 2014 published by HM Treasury. Th8 aitll of th8 review Is to Specify the 18vèI of futurB contributions. A¢tuallal scheme valuations arg depend8nt on assumptions about the valuè of future co, design of beneffts and many othèr f8Ctors. Th6 latest aciuarial valuation ofthe TPSwas carried out as at31 MaTch 2016 and in accordancebmth the Public Serwce Pensions (Valuations and ErnployeT Cost Capl Directions 2014 e￿pt f( has been preparedfollowng the Govemment's decAsion to pause the operation ofthe cost control meLanisms at tho tim& wh8n legal challorvJgs were still pending. The valuation report was published in April 2019. The key resulis of the valuabon and subsequent cOnsU￿tion are: Total scheme liabilibesforseNce{pensions CUTrenty payable and the estimated cost offijture benefits)of £218 billion Value of notional assets (estimated future contribubons tQNJ8ther with the proceeds from the notional investsngnts held al the valuation dale) of £196 billion Notion81 past seT¥iC8 deficit of £22 billion Di￿ount r*9 is 2.4% in 8xcess of CPI As a resutt ofthevaluation, newemployeT contribulb)n rates ￿Te set at23.68% ofpensionable pay from September 2019 onwards Icompared to 16.48% dUrir￿ 2018119.1 The TPS 1$ a multtomployer plan and there is insufftient infomialion to accountforthe scheme as a deflned benefft plan so it is accounted for as a defined contsibubon plan. 2022 2021 Teachern. Pension Scheme conlribubon cosi 156,860 257,285 There were outstandiThJ contrfbutlons * 31 August 2022 of £nil {2021: £29.798). The TPS is a multi-employerpension ￿an and the￿ 18 insufficient irTfoThn8bon to accountforthe scheme as a defined benefft p&nson plan ￿ it is accounted for as a dofined contribution plan. Follmng a consultation ¥wth stsff, the Govemors made a decision to leave ihe TPS and offer an altemative defined contribution pension scheme with effect from 1 ￿111 2022. Therefore the 2022 costs above Tepresenl 2 terns, of contributions. Tho Group also operates 3 deffined contribubon schemesfornon-teaching staff. Forthe period employercontiibubons were a fixed percentage ofsalary behyeen 3% and 16%. The Group has no pK)lential liability otherihanthe payrnenl of all contributions ID an assurance company. Contributions durtng the year amountod to £112,66312021.' £38,096}. NET INCOME 2022 2021 Net income is stated after charging.. Operating lease rentsls.. Plant and machinery Land and buildiThJs Audtiors, r&munaratlon - for audit s8Mc8s - for t￿tion services 9.136 180.813 25.850 9.474 164,894 21,250 1,800 274,312 Depreciation 278,665

ELMHURST BALLET SCHOOL TRUST NOTES TO THE FINANCIAL STATEMEpirs FOR THE YEAR ENDED 31 August 2022 INVESTMETr￿ INCOME 2022 2021 Bank interest rec8w8ble Investment incorne 747 118,119 491 146.621 118,866 147,112 TAXATION Asthe Charity has attained chartlAble status. the trustees consid&rthalthere isnoincome subje(Ito ¢orpordtiontaxfor thè year endod 31 August 2022. The $ub$idiary undertakiro has a tax Ilabiltty of £nil12021.' £nill forth& ygar. TANGIBLE ASSETS Long leasehold buildlngs Short leasehold property Elmhurnt Enterpris•s Ltd flttlngs and equlpmènt Totsl Charity Total Group COST At 1 September 2021 Additions DTsposals 15.743,888 1.908,3TT 17.705,632 49.797 49,797 5,124 17,710,756 49,797 At 31 August 2022 15,743.888 53,367 f,958,174 17,755.429 5,124 17,760,553 DEPRECIATION At 1 Sèplgmber 2021 Charge for th& yèar Disposals 3,222,576 215,877 24.9J6 1.814,060 59,230 5,061,542 278,665 5.124 5,066,666 278.665 Al 31 August 2022 3,438.453 28.464 1.873,290 5,340,207 5.124 5,345,331 NET BOOK VALUE At 31 August 2022 12.305,435 24.￿)3 84,884 12.415.222 12.415,222 At 31 A￿USt 2021 12,521.312 28.461 94,317 12,644.090 12.644,090 INVESTMEP Group Chartty 2022 2021 2022 2021 Fair value at 1 September2021 Additions at eost Disposals proceeds Unrealised Ilossygain Realised(1￿88Y9aln on disposal 3.509,169 323.338 (312,3241 1378,4731 145,652) 2.956.471 635,738 1625.3121 521.456 20.816 3,509,170 323,338 (312.3241 (378,4731 145,6521 2,956,472 635,738 {625.312} 521,456 20,816 F8irv¥lue al 31 August 2022 3.096.058 3.509.169 3,096.059 3.509,170 Historic cost at 31 August 2022 2,830,563 2,803,842 2,830,564 2,803,841 The Chartty holds an investment of £112021= £11 representing Ihe ordlnary shar8 capital of its subsidiary ElrnhuT8t Enterpris6s LimitedNthich is eliminated inthe Group. The remaining invesbnents ￿l#t￿lo£313,9￿1(202l'. £321,643) held in thè M&G CharTfund Equty Invesbment Fund for CharTbes and investments managed by Harris Alday of £2.782,067 {2021'. £3.187,5261. 28

ELMHURST BALL￿ SCHOOL TRUST NOTES TO THE FINANCtAL STATEMENTS FOR THE YEAR ENDED 31 August 2022 10. DEBTORS Group Chartty 2022 2021 2022 2021 Outstanding fè&$ Amount due from tradlng Subsidiary other debtors PrgpayThgnts and accrued income 13,285 15,737 13,285 63,369 54,299 176,405 15,737 37,821 107,088 147,463 115,737 176.405 112.933 147.463 305,427 276.133 307,358 308,109 11. CREDITORS: Amounts fralling due V￿thin one year Group Charrty 2022 2021 2022 2021 Trade creditors Entrance fees refijndable and depostts Other tsxation and 80cial 8ecurity Other creditors AccruaL8 and deferred Incom6 155,578 20,278 13,136 12.969 391,313 143.106 328,124 58,824 53,970 297.319 151,520 320.278 13.113 12,969 384,4W2 137,262 328,124 59.681 53.970 295,519 893.274 881.343 882,342 874,556 Def&rrgd income comprises In￿Me r￿eNed in advancè for aideLI pla¢￿S under the DADA schem& of £274,925 12021: £260,010) and and bursari8s in advance of£nll (2021: £nil). Chartty and Group 2022 Movement on deferred income.. Deferred incom8 al I September 2021 Releasèd in year Deferred In year 260,010 1260.0101 274.925 Deferred income at 31 August 2022 274,925

ELMHURST BALLET SCHOOL TRUST NOTES TO THE FINANCIAL STATEMETr¥rs FOR THE YEAR ENDED 31 August 2022 12 FINANCIAL INSTRUMENTS Group Charlty 2022 2021 2022 2021 The carying value ofthe GrDUP'S and Charity's financial instnjments at 31 August were". Financial assets.. Financial assets at fairvalue Fixed asset investments 3.096,058 3.509.169 3.096,059 3,509,170 Total 3.096,058 3.509,169 3,096,059 3,509,170 13. ENDOWMENT AND RESTRICTED FUNDS Charfty and Group Brought forward Galnsl Ilossesl on Trnnsfers iD¥estments Income ExpandTturg Carried forward Endowmont Furtd$ Scholarship end(Iwment 371.782 14.827 (18,6661 (3,0001 364,943 PrforY•ar Charlty and Group Brought fornard Galnsl (105ses} on inve6trnents Incomo Eynditu Transfeys Carried forward Endowm•rtt Fund$ Scholarship ndovrntrnt 295,471 13.708 65,603 13,0001 371,782 Underthe temis of part of the eThJovmient. Invesbnent retum up until 2011 *Yll foTh part ofthe endowm&nl capltal. Investmanl income received theTeafteristo be used tofund scholarships. Thetransferrepresentslhe income usedto fvnd a gLholarship during the year.

ELMHURST BALLET SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 Au9Ltst2022 13. ENDOVIMENT AND RESTRIGfED FUNDS (contlnu8d> Brought fopard C8rrf•d forward Income Expendlture Transfers Restrfcted Funds DE Grdnts Donations 29.263 98.793 112.1601 189,2031 17,103 84,658 76.768 (1,700} 128,056 76,768 1101,3631 11,700} 101,761 PrlorY•ar Brought forward Carrfed forward Income Expendlture Transfers Restrfcted Funds DfE Grdnts Donations 29263 2.793 29.263 98,793 100,740 {94,7401 122,056 100,740 (94.7401 128.056 DFE GraTrts These grants provide ttswards thg ¢tssb of our OU￿aCh pmgramme and refUrt)iShmenV￿pla¢$ManI of equipment. Transfers represent Cap￿alIsed spendiro completed in line wth the ternis of the restriction. Donations This ¢on$ists of several srnall donatK)ns whiL havo bgen givén to th& Chaiity lo be uwl in a¢xordance wth the shes of the donors. Transfers repres￿1 (ximklised spendiThJ completed in lino wth the tems oftho rtr5tri¢tion. 14. DESIGNATED FUNDS Ch•rlty and Gr¢)up Brought forward Carri¢d forward Income Expendlture Transfèrs Capital reseNe Repairs reserve 12.549,773 2,600,000 1219,435) 12,330,338 2,600,000 15.149.773 1219,435} 14,930,338 Prfor Year Chartty and Group Br¢*ught forward Carrigd forward Income Expendlture Transf•rs Capital reserve Repairs r&wYe 12.769.208 2,￿0,000 1219.435) 12,549.773 2,600,000 15,369.208 1219,435) 15,149,773 The capital reservè reprèsants th& inveslm6nt in leasehold land and buildings on the School site. Th8 tr8nsf8r represents the movement in the net book value of leasehold land and buildirrfJs during the year. The repairs rgpresgnts monies seta$d6 formalorrepalTStothefabdc of the bullding. Trydnsf0rs￿pr0S9ntth0 monies set aside by thè Gov8mors durt￿j th8 year. 31

ELMHURST BALLET SCHOOL TRUST NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 AugU$t 2022 15. GENERAL RESERVE Group Charfty 2022 2021 2022 2021 At 1 September2021 Net lexpenditurey income forlha year Transferfrom capitsl reserye Transfer from èndowment TeseNe Transfer from ￿tricted re8erve 1.780,245 {757,985} 219.435 3.000 1,700 1.147.443 410.367 219,435 3,000 1,783,056 {774,2721 219.435 3.000 1,700 1.143,￿0 417,041 219,435 3,000 At 31 August 2022 1.246.395 1.780.245 1.232.919 1,783,056 16. COMMITMENTS UNDER OPERAMNG LEASES 2022 2021 At 31 August 2022, the Group aN1 Charity had totsl fijture minimum lease payments under norpcancellable opera11￿ lease$ as follov•E'. Plant and machinew. Arnounls payable within 1 y8ar Amounts payable in 1- 2 years Ajnounts payable in 2- 5 years Amounts payable in more than 5 years Land and buildiTrJs'. Arnounts payable vthin 1 year Amounts payable in 1- 2 yeaTS Arnounts payablè in 2- 5 yea Amounts payable In more than 5 yOaTS 2,376 9,504 2,376 179.885 179,885 507,178 337,500 179,885 179,885 518,313 506,250 1,206,824 1,396,213 17. ANALYSIS OF GROUP NEf ASSETS B￿EN FUNDS End4)wm•nt funds fund$ funds Total Fund balan￿ al 31 August 2022 are rèpresented by: Tangible fixed assets Fixed asset investrnents Ng1 current assets 12,415,222 2,7W2,068 979,443 12,415,222 3,096,058 1,132,157 313.990 50.953 101,761 Total net assets 16.176.733 101,761 364,943 16,643,437 PTlorYear Unrpstrthd Restricted funds funds Endowmènt funds Totsl Fund balances at 31 August 21721 are rep￿sentert by". Tangible fixed a&sets Fixed asset investments Net Cu￿nt 88sets 12,644. 3,187,526 1.098,402 12,644,090 3,509,169 1,276,597 321.643 50,139 128,056 Totsl net assets 16,930,018 128.056 371,782 17,429.856

ELMHURST BALLET SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2022 17. ANALYSIS OF CHARrrY N￿A$s￿s BEtWEEN FUNDS Unrestrlcted Restrlcted funds funds Endoww*nt funds Total Fund balances at 31 August 2022 are represented by". Tangibla fixed assets Fixed asset Investments Net current assets 12.415,222 2.782.069 .966 12,415,222 3,096,059 1,118.680 313,990 50,953 101,761 Totsl net assets 16.163.257 101.761 364,943 16,629,961 Prior Ygar Unrestrlcied Restrlcted funds funds Endowment funds Total Fund balances at 31 August 2021 are repTrsented by.. Tangible fixe(l assets Fixod asset investrnents Net current assets 12,644.090 3.187.527 1,101,212 12,644,090 3,509,170 1279,407 321.643 50,139 128,056 Total nel a8S8ts 16,932.829 128,056 371.782 17,432,667 18. CAprrAL COMMITMENTS As at 31 A￿JUSt2022, the Group and Charity had contracted capitsl commitments of £20.020 {2021: £nil). 19. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROPA OPERATING ACTivmES Group Charity 2022 2021 2022 2021 Net Iexpenditurg￿In¢om• for thè rnporting ￿rIOd 1786.419) 495,678 1602,7061 2,352 Adjustrnents for. Depreciation charges Lossesllgainsl on investments Dividends, interest and rents fr invgstrngnts Iln¢raas8ydecrease in debtOTS IDecrease)fincrease in CTedilors 278,665 424,125 {118.866) 274,312 {542.2721 1147.112) 278,665 424.125 {118.8661 274,312 1542.2721 1147.1121 {29,294) 110,089) 751 114,2341 41,831 {23,6301 (31,448) Net cash {us•d Inyprovlded byopgratTng actlvltles (241.878) 106.066 (232,2651 105,481 20. ANALYSIS OF CHANGES IN NET FUNDS At stsrt of ar Cash flows At frnd of yaar GROUP Cash at bank and in h8nd Noti¢& d¢po$its (less than 3 months) 853.810 1,027,997 {362,541} 200,738 491,269 1,228,735 Totsl ¢ash and eash ￿ul¥alents 1.881,807 1161,803) 1,720,004

ELMHURST BALL￿ SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YE4R ENDED 31 August 2022 20. ANALYSIS OF CHANGES IN NET FUNDS {¢ontlnu•dl At 513rt of ar Cash fftows At ?nd of yg?r Chartty Cash at bank and in hand Notio% deposits11&8s than 3 months) 817.857 1,027,997 {352,928 200,738 464,929 1,228,735 Totsl ¢psh #nd ¢ash equlvalents 1.845.854 {152,190) 1.693,664 21. SUBSIDIARY COMPANY The charitable companyovmsthe enlire issued share ￿pital of ElmhurstEnterprisesLimited, a cornpanyincorporaled in England and W8188 ITegist8r8d nutnber044424391. The principal acbwty of Elmhurst Enterprises Limited i8thatof prowding facilTties. Thè rèsums of Elmhursl Enterprises Limrted are ¢onsolid8led into these accounts. Forthe yeaTended 31 August2022, Elmhurst Enterprises Limited recorded bjmoverof £85,68112021'. £11.6391, cost of sales and expens88 of £69,396 {2021.. £14,448> less corporalion tax of £nil {2021-. £nill giving rise to a retained profitof £16,285{2021.. £2,80910ssl. During the yearthe subsidiary¢xJmpanyha8 distributed £nil12021.' £3,864ltolhe parent company In ￿spect of 2021 proffts. Net a&8ets at 31 August 2022 were £13,47T12021". net liabiliiies £2,808). 22. RELATED PARTf TRANSACTIONS Duriro the year, the Charity chaTged Elmhurst Enterprises Limited £52.597 (2021: £3,375) In respect of staff costs, catering costs and facAlits88 W8ts. At the year gnd. thè Charity Vfds 0%￿d £63,36912021: £37,821) by Elmhurst Enterpri58s LI￿[t￿. J Harris, agovemorofElmhurst Ballet SchoolTrust, isalw a directorof Health Clalms Bureau. Durfr@ theyear, Health Claims Bureau proMd8d manag8menl and 8thc8 services to Elmhurst Ba1181 School Trust amounting lo £15,910 {2021: £15,120>. M Baldwin, a govemor of Elmhurst BalletSchcdTru51, pro￿d&￿ChoreCIJr8phIGSeN￿arnoUntiThJIO£830 duringtt)e year12021-. £1,500) B LawTer￿. a governor of Elmhurst Ballet School Tnjst. provided choreogrdphlc sgwes tr> Elmhurst B81181 School TTUSt amountiThJ to £nil during the year12021'. £1,202).

ELMHURST BALLET SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2022 23. COMPARATIVE CONSOLIDATED STATEMENT OF FINANCIAL AcTIV￿Es Unrnstrict•d Funds Rostrict•d Funds Endowm•nt Fund 2021 Total INCOME FROM.. Donations and legacieB- Donations ¢haritabl• actlvltles: School fees receTV8blè Syllabus classes income Summer School fees Grants rec8wable Coronawrus Job Rètention Sch8 other tradlng activltles: School shows income Rents and lettings Other incomg Investments 27.8￿1 100.740 128.590 3.693.285 94,789 93,448 354.48 137.834 3,693,285 94,789 93,448 354,480 137,834 7.203 198.384 133.404 7,203 198,384 147,112 13,708 Total Incom 4.740.677 100.740 13,708 4.855,125 EXPENDrruRE ON: Raislng fund$ 28.030 28,030 Charltablo actlvlUes School operau￿3 costs 4,758.133 94,740 4,852,873 Total expendtiurn 4.786.163 94.740 4,880,903 NET IEXPENDITUREYINCOME BEFORE NET GAINS OM INVESTMEFirs 145,486) 13,708 {25,7781 Nel I10&8esygains on investments 455.853 65.603 521,456 NET I&XPENDrfuRE)llNCOME 410,367 79,311 495,678 TRANSFERS BEfifiiEEN FUNDS 3.000 {3,(KJO) NET MOVEMENf IN FUNDS 413,367 76,311 495,678 Reconciliation of fvnds.. Funds brought forward at 1 September 2020 16.516.651 122.056 295,471 18,934,178 Funds carfod fonyard at 31 August 2021 16.930.018 128,056 371.782 17.429,856