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 nurni*r of sttjdents 8Ghiewng g(KKI or 1*tt8r 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 goc*J 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 indN*JLHlrtyislluTbJred 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 prc*JTess 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 CDF*ff 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 v*ith 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 fc*anothertem and appropri*3rraThJomgntshave 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 pro*ide 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 m*erial 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 st*gments 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 s*ir, 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 suw*tible 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 eTr*idenLwa 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 meL*anisms 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
fop*ard
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