2023-08-31-accounts

Cornpany Nurnber.. 2932622 Registered Charity Number.. 1040286 ELMHURST BALLET SCHOOL TRUST IA CHARITABLE COMPANY LIMITED BY GUARANTEEI FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

ELMHURST BALLET SCHOOL TRUST REPORT OF THE GOVERNORS FOR THE YEAR ENDED 31 August 2023 The Governors p￿sent their annual report and the financia1 statements of Elmhursl Ballet School Trustforthg y8arend8d 31 August 2023 and confirni that the latter cornply with the requir8m8nts of the Cornpanies Act 2006, the Company's Memorandum and Artic18s of Association and the Charities SORP IFRS1021. REFERENCE AND ADMINISTRATIVE DETAILS The School is a charitable company inwrporated in 1994, with the liability of its members limited to £1 each by guarantee. Charity number. 1040286 Company number.. 2932622 Principal and RegiSte￿d Office.. 249 Brislol Road, Edgbaston, Bimiingham. B5 7UH Directors The Governors ar8 appointed by the Board and are the Directors of the Company and the Trustees of the Charity. Those Serving in the year and since a￿ as follows.. J A Harris Ichaimianl 8aldwill Ir8signed 21 October 20221 J Bryson S Butler Iresigned 29 September 20221 K Cartwright P Chesl8rman S Evans Iresigned 29 February 20241 J Hardy B Lawrence M Lawrgnce (appointed 14 Febnjary 20231 l Lowe (appointed 20 December 20221 A L Matthews M Wyon Key Executlves and Professional Advisgr$ Principal.. JAWard Director of Financg 8nd Op8Tations'. L J Caddick Bankers.. Lloyds Bank plc, Queens Squarg, Wolvèrhampton, PO Box 1000, BX1 1LT Auditors.. RSM UK Audlt LLP, Rivemead House, 7 Lewis Court, Grove Park, Leicester. LE19 1SD Investment Managers.. EFG Harris Allday, 33 Great Charfe5 Stre81, Birmingham. 83 3JN STRUCTURE. GOVERNANCE AND MANAGEMENT Governlng Document The company is governed by its Memorandum and Articles of Assoicialion. last amended on 8 M8rGh 2005. Governing Body The Directors, who are also required und8r thè Arbclès to serve as members of the Company, are elected at a fvll DirectOTS' Meeting on the basis of nominations received from existing Directors concerning eligibility. personal compelence. specialist skills and loGal availabi5ity. New Govemors are inducted into Ihe workings olthe Charity and the School, including Board poliGy and procedures, at an induction meeting which takes place prior lo the first full Board Meeting. All Governors are also encouraged to attend appropriate training and lo serve on 81 least one of the S¢hool's sub-committees.

ELMHURST BALLET SCHOOL TRUST REPORT OF THE GOVERNORS FOR THE YEAR ENDED 31 August 2023 Group Structure and Relationships The charity is ￿ncOrporated as a company limited by guarantee and its operations arè govemed by its Memorandum and Articles ofAssocialion. The Mermorandurn and Articles ofAssociation impose restrictions over the income and property of the cotnpany which are to be applied solely towards the promotion of the company s objects and not distributed by way of dividend, bonus or othemise to Ihe members. The mernber's liability on winding up is1imited lo £1. Elmhursl Enterprises Limited. a wholly owned subsidiary, was fomed in 2002 and commenced trading on 1 September2004. Its results, 8558ts and liabilities a￿ consolidated into these accounts on a line by line basis. Risk Management The Board of Governors of Elmhursl is r9sponsibl8 lor the management of thè risks fa￿d by the School in line with the SGhoo1's Risk Management Policy. Detailed considerations of risk are delegated to the Finance, Facilities and General Pury>oses sub-committee olthe main Board, who are assisted by the Senior Leadership Team. Risks are identified. assessed and controls established lor monitoring during the year. A forrnal review of the charity's risk managem8nl proce55es is undertaken on an annual basis and all sub-Gommitt88s are required to report annually on the tnanagement of the nsk assooiated with their particular ar98 of governance. The key controls used by the charily include:. Formal agendas for all Board and sub-cornmittee activity., Explicit Temis of Reference for all sub-committees.. comp￿henslye planning, budgeting and management accounting.. Established organisational structures and1ines ol reporting., Formal written policies., Clear authorisation and approval leve1s', Clear staff recruitment policies, according to best practice, for the protection of our students. Clearty, checks and systems can only provide reasonable but not absolL5te assurance. Through the risk management processes initiated by Eltnhurst, however, the Govemors are satisfied that the major risks have been identified and measures tsken to appropriately mitigate the risk as necessary. The Governors consider the major Tisk lo be the irnpact of the global financial rnarket alongsitje a potential change in Governmentfunding policy and considerably greaterdifficulty in accessing private funding. The follow-on effeciofthis may be insufficient numbers of students attending the School. OBJECTIVES AND ACTIVITIES FOR THE PUBLIC BENEFIT Th8 Charty's Qbj8ets, as sèt OLrt in its Memorandum and Articles of Association, are the advancernent of education, particulady but not exclusively, with an emphasis on instruction in the perforning arts, including the provision of boarding andlor day schooling for children of both sexes. Within these obj8cts, the Charity also has lo equip, fumish, fftup and tnaintain the buildings and to award prizes, bursaries and scholarships to students as ￿leVarnt. The School is supported by the Government's Music and Dance Scheme and the Dance and Drama Award, both of which enable gifted young dancersfrom families of limited financial meanslo benefit from a worfd-class vocational dance education throuoh Ihe provision of funded places. The only way for students to gnlerlhe School is by audition - this gnsures that talent alone gives access to the School. The government-fLJnded places are supplemented by scholarships and bursaries from commerce and private donations. Additionally, places are offered alfull fees, provided that the applicant isjudged to have ihe potential to succèed as a classical ballet dancer. The Govemors confirrn that. to the best oftheir kno￿edg8 and bélièf, they have cornpli8d wth S8Ction 17 ofthè Charities Act 2011 in respect to having due regard lo Public Benefit GLJidance published by the Charity Commission. AIMS AND INTENDED IMPACT Elmhurst Ballet School, in Association with Birmingham Roy81 Ballet, is oomrnitted lo the innovatlV8, worfd-leading èducation of talented, passionate and cornrritted young ball81 dancers, regardless of thèir financial circumstances. The vi$ion of Elmhurst Ballet School is to shape the education and training of young dancers. We work internally to improve practice and with other organisations nationally and intemation8llyacrosslhe dall￿ sectorlo improve the outcomesforyoung people engaged in dan￿ training at this level. The school aims to support slud8nls in prgparing ft>r professional life as a dancer and Secu￿ employment on graduation. It makes this provision in close association with Birmingham Royal Ballet. The links wth the Cornpany develop year on year and there are opportunities for all sludents to engage with the company in some w8y. Govemors and Staff have workgd hard to achieve ￿CognItIon of the benefit the School brings to Bimiingham and tha Wesl Midlands. arbsli¢ profil&.

ELMHURST BALLET SCHOOL TRUST REPORT OF THE GOVERNORS FOR THE YEAR ENDED 31 AUGUST 2023 OBJECTIVES FOR THE YEAR In Sgptember 2022 we launched our 2022-2025 strategy. Our vision for the future is Exceptional Dancers, Exceptional People" and our objectives for this 3-year period are based on the following strategic themes.. Student Centric Dance and Academic Exce11enGe Dynamic Research to Evolve and Adapt OUT Elite Perfomiance Environment World-class Teaching Carin9 Culture Engage Top Peop19 Courage to Qu8Stion, Cha118nge and Change Cultural Norrns Underpinning our strategic Ihemes is a comprehensive 3-year strategic plan which is reviewed and RAG-rated at least terTnly al strategy days attended by the Senior Leadership Team who feed back to the Governors through Board and sub- committee meetings throughout the year. Governors attend a bi-annual strategy day with senior leaders lo have input. challenge the team and provide 8Xtemal perspgGtives. Royal Patron The Schtsol is fortunalg lo receive the patronage of Her Majesty The Queen, who, wth His Majesty The King, first wsiled the Schoo1 in September 2006. HeT Majesty has subsequgnlly taken a great interest in the School and is a keen support8r of ils activities, visiting us again in Decernber2009, November 2014, January 2020 and most recently in March 2023. The Principal and other members of the team have thoroughly enjoyed the Royal engagements that th8y have attended and are delighted by the genuine 8nlhusiasm and comrnitment to Elmhurst students demonstrated by Her Majesty. Patrons from the Worfd of Classlcal Ballet The Schoo1 benefits greatly from the support ol Maina Gielgud,. AO, Dam6 Mérf8 Park,. DBE. SirPelerWright, CBE and Catlos Acosta who act as Vice-Presidents of Elmhurst. In February 2023 Elmhurst announced Wayne MacGregor CBE as its President. This very public supportfrom such eminent ballet experts has consolidated Elmhurst's p1acèas on8 oftheforemosl vocational ballet schools in the ¢ounty.

ELMHURST BALLET SCHOOL TRUST REPORT OF THE GOVERNORS FOR THE YEAR ENDED 31 AUGUST 2023 STRATEGIC REPORT C6ntanary Cèlebrations In 2022123 Elmhurst cel8br8led il's 100 year anniversary. In orderto commemorat8 the occasion we held a numberof events which included.. AlumrTri takeover week in February 2023 Royal Visit from HRH Th8 Queen in March 2023 Cenlenary Fundraising Ball In July 2023 Centenary-themed Summer Shows in JLJIY 2023 During the Royal Visit, HRH The Queen unveiled a Centenary Wall in the School which celebrates Elrnhurst's rich historywth photos of our students in training and in performance from the last 100 years. We were also delighted to invite the family of Helen Mortimer. Founderof E1rnhuTslto ourCentenarySummerBall. lojoin us in celèbrating th8 legacy she created. OFSTED Subsequent lo the year end. in October 2023 the school undeTwenl a routine inspection by OFSTED. This was conneoled to our DaDA govemmènt funding Teceived through the Education and Skills Funding Agency. We were delighted to be judged Outstanding in all 4 judgment 8re8s. Safeguarding was judged to b8 eff9clive. EmployTnent Success 12 out of the Graduating 14 students186°/tsl succeeded in gaining employment or further dan¢9 related training. Employment contracts included Birmingham Royal Ball81, Alberta Ballel, Canada, Teatml de B2let- Romania, ZfinM8lta Nationa1 Dance Company, Malta, Baletto di Milano, Israeli Ballet. Phantom of the Opera, London West End and Royal Caribbean Cruises. 1 student joined the Elmhurst Gradualo programme and 1 continues to pursue a career in musical theatre and acting. Re¢ruitment In 2022-23, all preliminary audition5were conducted via video entrywith the exception of students forye8r7whowere inwted in person. Successful applicants wgrg then invited to physical semi-final auditions at Elmhurst. Our Recruitmentand Retention Strategy includes open days and expgrienoe days lo help prospeclive students understan(f the requirements at audition and these have proved extremely popular. The Elmhurst Prep-steps programme was also introduoed althe Bluecoalindependent school in Bim)ingham, provi(Jing after school ballet classes to pupils aged 6-10 y8ar5 old. This is an initiative which we hope will increasè the numb9T of day pupils al Elmhurst in the future and plans are undeN48y lo expand the programme further to other prep schools. Internatlonal Engagements During 2022123, Robert Parker Gontinued to adjudicate international competitions both online and in-person. This included th8 miam￿ International Cornpelition- Columbia and Italy, the Sibiu Dance Competition- Romania. Ihe Youth American Grand PriK Riccioni and Tamp8. the Star of Canaan- Malaysia and the Global Danoe Opell-Portugal. International auditions took place in Jap8n and Australia. Visits to Malta also look place to deliver maslerclasseslo local ballet schools and to connectwlh the BOVICalleja foundation who currently sponsor a number of Maltèse students at Elmhurst. Artistic Performances As 202212023 was our Cgnlenary year the Winter performance took a slightly different approach as we used the opportunity lo showcase the style of dancewear through the 100 years within the performance. The Winter perfomiance included thg whole school and showed the progression of work through adapted classwork for the Lower School along with repertoire from The Nutcrdcker for the Upper School. Year 13 Students performed The Invitation. chtsreographed by Sandrine Monin at the Walsall CDmmunTty Danc8 Festival.

ELMHURST BALLET SCHOOL TRUST REPORT OF THE GOVERNORS FOR THE YEAR ENDED 31 AUGUST 2023 Artistic Performances Icontinuedl Our Graduate students once again came together as Elmhurst Ballet Cornpany to perform Legaoy. The perforrnances included a new commissioned work by Jordan James Bridge frorn Studio Wayne MoGregor which w85 produced over 8 two week residency. Other pieces included works by Sir David Bintley, Avatar& Ayuso, Cris Penfold and Sir Frederick Ashton and own student choreography and lulor Sonia Fajardo. Performanoes look place in the Elmhurst Studio Theatre and the Lillian Bayliss Theatr8 in London. The Summer Show 2023 was 8nlilled Century and included p8rforrnances for the Lower, Upper and Whole School as well as including OLJr Young Dancers. Th8 annual fundraising Gala performance a180 look place. The programme involved the enb.re student population and provided thgm opportunities lo crgate work with external choreographers including Cris Penfold, Gavin MoC8ig and Chadotte Edrnonds along with work from our own tutors. We welcomed Catarina Carvalho and Antoine Vereecken from Studio Wayne MoGr8gor lo sel the 'Du8t from Atomos. for our Gala performance. Gradualg and Ygor 13 students perfomied a new choreography by Sonia Fajardo at An Evening of Music and Dan￿ at Syrnphony Hall with BRB. Graduate students performed the Nutcracker Pas de Deux for the Calthorpe Christmas Lights switch on event. Gr8du8te 51udenls perfornied 4 pieces for the SOO Club Networking lunch held at Elmhurst. The Whole School were involved in performances to celebrate our centenary which were perfomied for invited guests and again for the visit by The Queen. GT8dvale students continued to perfomi in local primary and junior schools as part of the Elmhurst out￿aCh programme. Over the Chrislrnas period, year 7 students and Elmhurst Young Dancers were selected to perforni in Sir Peter Wright's production of the Nutcracker. On8 mal8 graduate student was invited to perform wth ENB for their production of Cinderella. Competltlon Success In the year 2022123, 1 female Upper School was the winner of the Pro International Award at the Grad Pro competition.

ELMHURST BALLET SCHOOL TRUST REPORT OF THE GOVERNORS FOR THE YEAR ENDED 31 AUGUST 2023 Industry inspiration In 2022123 we once again welcomed a significant number of industry professionals to work wth our sludenls through worf(shops, choreographing new work, media training and Q&A sessions. Choreographers and artists who worked wlh oyr studBnls on pieces for our EBC and Summer Shows included.. Patricia Tiemey, Bimingham Royal Ballet Gavin Mccaig. Northern Ballet Jordan Bridge. Cornpany Wayne MacGregor Cris Penft>ld, Vvest End Perfomer Charlotte Edmonds, F￿elance Choreographer Avatara Ayuso. Ava Dance Company Denis Boner, Birmingham Roy81 Ballet We also welcomed the following to work with students as part of the RAD and BBO.. Laura Day. Birmingharn Royal B851et, BBO Cg5in8 Gittens, Birtninghatn Royal Ball8t, RAD The followng professionals We￿ welcomed into school to deliver workshops to the students.. Danigl D8vidson, Fr8elance Chorgograph8r Lo￿nI0 Bemardi, F￿elance Choreographer, Dancer Marcia Edwards, ME Company We also welcorned.. New Adventures- Matthew Bourne Wayne McGregor and Antoine Vereecken- Studio Wayn8 MoGregoT In February 2023 as part of our Centenary year, we celebrated our very first Alurnni takeover week. A nurnber of Elmhursl graduates retumed to school to deliver workshops and Q&A sessions to all year groups which proved to be inspirational for our students. Carlos Acosta (Artistic Directorl and Dominic Antonucci IAssistant Directorlobserved Graduate students in Balletclass wth a view lo awarding the BRB Apprenticeship.

ELMHURST BALLET SCHOOL TRUST REPORT OF THE GOVERNORS FOR THE YEAR ENDED 31 AUGUST 2023 Outstanding Academic Results Elmhurst admits students solely on the basis of ability and polential in classical ballet- and is therefore not academically selective. Nevertheless. the School continues to achieve excellent academic results. Elrnhurst continues lo offer a lull, enriching and ￿￿evant academic curriculum in both Lower School alld Upper Sohool. being cornrnitted to the notion that thinking dancers make better dancers. The School is also aware that students need to have a good aczd8mio grounding in prgparalion for life beyond dancing. whatever Ihal involves them doing. We believe exceptional dancers are exceptional people. A wde vari8ty of option subjeds are available at GCSE level which in the main a￿ taught over years 10 and 11. Lower School Academic Results 2023 In 2023, 18 Year 11 students were awarded results in 140 GCSE examinations lan average of 7.8 per studentl. 31 Qjo of all GCSE entries werè awarded grades 7-9 and 89,10 of slud8nts gained five or more GCSES (including English and Malhsl al grades 4-9. GCSEliGCSE Data 2023 2022 2021 2020 2019 °lo Entries awarded 9- 7 IA'_Al grades 1¢ Entries awarded 9- 4 IA"_Cl grades /0 Students obtaining 5+ 9- 4 IA".Cl grades 31 41 75 55 32 82 90 100 95 95 89 100 100 95 91 °/0 Students obtaining 5+ 9- 4 IA".Cl grades including Maths and English 89 100 100 95 88 Cohort Size 18 26 22 22 24 Average number of GCSE entries per student uP￿r S¢hool Academic Results 2023 Sixth Form slud8nts al Elrnhursl study for A Lev818 along8id8 their demanding dan￿ training schedule. A Lèvèl Data 2023 2022 2021 2020 2019 /0 Entries award8d A'.C grad85 Yo Entries awarded A'_E grades 59 65 89 89 62 97 95 100 100 100 Cohort size 16 20 3 year rolling average °/ts Entries awarded A'_G grad8S 71 81 80 79 74 Health & Wellbelng Stratègy Elmhurst's Health and Wellbeing Tearn aim to create an environmentthat promotes and enhances the health andwallb8ing of all ourstudgnls as perforrning artists, enabling them to achieve Iheirfull potential and build healthy and sustainable lives and careers. Elmhurst ha5 four key strands to its Health and Wellbeing strategy. these are.. preveniion., eady identification., prompt appropriate inteTvention and ongoing support. We aim to ensure whereverpossible the prevention of injury and illness. When issues do arisewe aim to identifythese is5UQS as earty as possible and then work in a coordinated way to provide appropriate support and intervention. InteNentions will be monitored and Teviewed for 8s long as they are needed. Ourvision is to provide outstanding physical and emotional care to all sludents in a timely, sensitive and gupportiva manngr. We aGhi&ve this by providing our students accessto a wde range of emotional and physical support services which include, physiotherapists, a sports massagg Iherapisl. a rghabilitalion expert, strength and conditioning coaches, a counsellor and mental health nurses, Dne of whom sp&¢ializes in eating disorders. Our Young P&rformers He8f(h Trust Gonlinues lo ensure that our students can obtain ouistanding health care support in a timely manner.

ELMHURST BALLET SCHOOL TRUST REPORT OF THE GOVERNORS FOR THE YEAR ENDED 31 AUGUST 2023 Outreach and Partnerships Enjoyment of, and p8rtioipalion in ballet. is in danger of becoming the preserve of the wealthy. as arts education is increasingly eroded in state sector schools. We are passionate about our art. Evgry year. we aim lo work with al least thre8 slate sector schools as part of our'Ballet and Beyond, Outreach programme, to inspire an int8r85t in ballet amongst young audiences who may never have considered ballet as a leisure activity or as a career, and to bring them new and diverse experiences. We also participate in community events and perform wth partner organisations such as Gar9 hornes and hospita15, where residents may h8ve few opportunities to experience perfomance art. Typically our schools, prograrnrn8 GOnSlSt of a series of workshops deliv9T9d in silu, wlh opportunities for the students who have participated in the workshops to come to E1mhurst to watch live performancès. In 22123 we worked wlh over 300 young people in and around Birmingham. FUTURE PLANS In year two of our strategy, we oonlinue lo work to maintain high standards across all areas of the school's provision, to ensure students have access to the very best education, training and support. Lgaders are focused on the strategic aims in order to secure the very best outcomes for students. In 2023124 we will continue to WOTk towards incr88sing our slLJdent numbers up lo capacity, focusing on the very best UK and international dance ta18nt. We will look to build on the succ8ss of this y88r's inlemational auditions programme. targeting regions Whe￿ we have a track record of finding talented young people to train at this elit8 levgl. Alongsid8 reoruilrnenl, the Senior Leadership Team wll delivera number of income generating projecis to enable the school to continue to support thè students studying al Elmhursl. Funding wi15 remain a key locus of the school and we will continue to lobby funders to increase financial support for our students, fgmi1ies, many of whom have been significantly impacted by the cost of living crisis with Inc￿aseS in mortgage interest rates and inflation making il morg difficu￿ for familigs lo affoTd the c3lcu1818d parental contribution to school fees. Following the success of our Centenary campaign in 2022123 ourtheatre fundraising campaign will enter its second phase in 2023124 and we hope to raise sufficient funds lo upgrade our thealre lighting. In addition, we continLJe to lookft)rwaysto become more su*ainable and havè plansto invest in energy-eff5cienl healing and cooling systems throughoutthe school. We are working wth students and extemal specialists lo look at otherways to r8duco our carbon footprint in 2023124 and beyond.

ELMHURST BALLET SCHOOL TRUST REPORT OF THE GOVERNORS FOR THE YEAR ENDED 31 AUGUST 2023 FINANCIAL REVIEWAND RESULTS FOR THE YEAR The statement olfinancial activities is set out on page 16 and 5how5 total income of £5,194,96112022.' £4,971,180) which is an increase of 4.5°/p compared with the prior year. School fee income increased to £4,015,76512022.' £3,749,989) due lo increased student numbers. The School's nel expenditure before gains on investments was £379,67412022.. £362,2941 due the irnpact of rising costs, p8rtiGul8rfy irnpacting our salary and food costs. The School continues lo strive to increase student numbers whilst maintaining control of ￿Sts. Ourlrading subsidiary conlinues to hire out Elmhurst School facilities during vaoalions and weekends, generating a profit of £34,61612022'. profit of £16.2851. FUNDRAISING STATEMENT Income generated through fundraising is important to the sustainabilityof Elmhur5t Ballet School and we employ one full time Fundraising Offic8r who manages our fvndraising strategy and targets. Funding and support cornes from trusts and foundations, companies and individuals. working Glosely wth potential supporters lo match interests and rnotivatiOll5 Wth the needs of students, as well as organising regular tours and events lo keep supporters connected with the school. We use a number of different channels to communicate with our donors, including mail, 8mail. face-to-face fundraising, online giwng and social rn@dia. We are registered with the Fundraising Regulator and the Fundraising Preference Service, affiming Durcompliance wth thè Fundraising Regulator Code of Fundraising Practice. We do not cold-call or cold-mail the public, nor do we put undue pressure on people lo donate. Our Fundraising Officer also attends regular meetings wth the Chartered Institute of Fundraising in order to stay vp lo date wlh best practice within fundraising. We continue to comply with all legislative and regulatory requirements and ensure that our polici85, guidelines and processes a￿ reviewed and updaled regularfy and that we comply fully wth GDPR. We a￿ pleased to report that we have not rec8ived any complaints regarding our fundraising practlC8 during the year ended 31 August 2023. FUNDRAISING PERFORMANCE Donations Total donations amounted to £151,67612022.. £121,4281. Th8 increase is largely due to the succèss of our Cen19n8ry Campaign which was launched during the year. Fri8nds In 2022123 we continued to grow and develop the Friends of Elmhurst Ballet School, a membership programme where individuals can sign up lo support Elmhursl at a cost of £30 per individual or £50 per2 pèople. Friends are invited to exclusive events throughout th8 year as w811 as receiving earfy aGGess booking to our annual shows. In 2022, w& introduced a direct debit payment scheme so Friènds ¢an automatically renew their mernberships each year. 500 Club In 2022123 we continved to promote and develop the Elmhurst Ballet School 500 Club, wherg businesses sign up lo support Elmhurst at a cost of £500 per annum and in exchange a￿ invited to attend a number of VIP networking ev9nts atlhe sohool. This has proved highly successful and are working our 500 members lo introduce new contacts to the school, asa ro$ullof our centenary yeaT celebrations membership to this group has grown significantry compared to p￿VIouS years. Trusts and Foundatlons We are very grateful forth8 funding received or pledged by grant-rnaking Irusts and foundations towards bur58ry SUPPOrt for Ihe studenls who have been id8ntifi8d as Stnjggling with the costs of Iheirdance training. During 2022123 WeWe￿ succ8S5ful in a number ol funding applications to grant-making trusts and foundations10 5UPPOrt a range of projects, including." student bursaries, choreography, Elrnhurst Young Dancers Programrne and outreach activities and performances. We continue to r&58arch and apply to grant-making organisations lo increase our effectiveness in this artra. The Govemors, Staff and Sludenl$ would like to thank everyone who has supported Ihe School during 2022123. 10

ELMHURST BALLET SCHOOL TRUST REPORTOF THE GOVERNORS FOR THE YEAR ENDED 31 AUGUST 2023 LErriNGS Lettings of the School's dance and ¢onf8rence f8cilities, largely during vaGglions provided an addition to mainstream revenue of £70,73312022.. £77,709). KEY MANAGEMENT PERSONNEL The Governors considerthe Board ol Govemors and the Senior Leadership Team comprise the key management personnel of the charity. All Govemors give of their lime freely and no Govemor received remuneration in the year. The pay of the S8nior Leaders is reviewed annually and nornally increased at the sarne rale as pay In¢￿aseS giv8n lo other staff. RESERVES At 31 August 2023, the School had £744.91612022.' £979.4431 of free reserves plus £2.6m12022.. £2.6ml identified forlonger term investrnent. F￿e ￿serveS are the group unrestricted net currentas5els.1t Emainsthe Gov8mors' policyto accumulate a general resgrve equivalent to up to two term's running costs as an adequate18v81 of working capital. Based on ourrenl1evels of expenditure, this would &quate to approximalely £3,724,651 12022.. £3.557.0001. The School haslwo designated reserves. The designated capital ￿serve repr8s9nls the net book value of the198sehold land and buildings. This will be released over the useful gconomic life of the land and buildings The designated repairs reserve rep￿sentS monies sBt aside formajor ￿paIrS to the fabric of the building. Thiswll be exporTrded in aCcOrdan￿With the repairs and maintenance programme. GOING CONCERN During 2022123 although studgnt numbers improved on the previous year, we were still under capacity and sludent cruilmgnl will be a key focus in our 8fforts lo reduce our deficit in 202314 and beyond. The loss on revaluation of investments as at 31 August 2023 is Telated to worfd events whioh have impacted on global stock m8Tkels. The Govemors take 8 long-lerm view on investments and aTg not unduly concerned about short-tern fluctuations. Our cash position remains strong1£1.85m at 30 April 20241 Looking forward to 2023124, w8 are delighted that our Govemment funding from the Music and Danc8 Scherne has been increased by 5°A. While this is still w811 below recenl levels of inflation, we h8v8 identified ways to reduce oosl and increase non-core income in order to work lowards narrowing the funding gap. On this basis Ihe Govemors are satisfied that it remains appropriatè lo dT8W UP the accounts ft)r the year ended 31 August 2023 on the going concern basis. INVESTMENT POLICY The School has p￿VioUslY placed all donations to the endowment fund on deposit with M & G Charifund with Ihe aim of funding future scholarships. The School's current Invgslmenl policy has been in place since 2014. The School seeks to produce the best financia1 retum within an acceptable level of risk. £2.5rn has been passed to a professional investment manager and isfully invested and has been Irealed as longertem investment5. The mandate is for a balance betwe8n Gapital and income on a medium lo high risk basis over a ten year lime horizon. The105s on rev8luation is linked to global events and is broadly in line wth th9 relevant private investor indices provided by the WMA and FTSE 100. Post yearend has seen a significant increase in thevalue of the portfolio. Any available cash held by the School which is unliko1y lo be required within a couple of rnonlhs 18 on shorttem deposilwlh Lloyds bank. The Govemors are satisfied wth the leve1 of investment income received of £138,35912022'. £118,866). Tha increase is largely due lo tre increase in Inte￿St rates On our short-teryn deposits.

ELMHURST BALLET SCHOOL TRUST REPORT OF THE GOVERNORS FOR THE YEAR ENDED 31 AUGUST 2023 AUDITORS RSM UK Audit LLP havg indioaled Iheirw11ingnessto be re8PPOlnted foranotherterrn and appropriate arrangements have been put in place for them to be deemed r8appoint&d as auditors in the abs8nce of an Annual General Meeting. STATEMENT OF GOVERNORS, RESPONSIBILITIES Th8 Governors Iwho are also directors of E1rnhurst Ballet School Trust for the purposes ol company lawl are ￿sponSible for preparing th8 R8POrt of the Govemors and the financia1 stalgm8nts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Govemor5 to prepare financial slat8m8nts ft>r each financial yearwhiGh give a true and fairview of Ihe stale ol affairs of the charitable company 2nd the group and ol the incorning resource5 and application of resources, including the income and expenditure, of the charitable group for that period. ln preparing these financial ststements, the Govemors are Tequired to.. Select suitable accounting policies and then apply them consistenuy., Observe the methods and principles in the Charities SORP., Make judgments and estirnal95 that aTe reasonable and prudent., Prepare the financial statements on the going c()ncem basis unless it is inapproprigt9 to pr8sumeth8llhe charitable company will continue in business. The Gov8mors 8rg r8sponsibl$ for keeping propeT accounting records th81 disclose with reason8ble accuracy atanytirne the financial position tsf the charitable company and enable them to ensure that the financial staternents comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and the group and h8nc8 for taking reasonable Steps lor the prevention and detection of fraud and other irregularities. STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS Th9 Governors who were in offiog on the dale of approv81 of these financial slalements have confimed, as far as they are aware, that theTe is no Felevant audit inforrnation of which the aLJditors are un8ware. Eaoh of the Governors have confimied that Ihey have taken all the steps that they ought to have taken as Govemors in order to mak6 thèmsolvgs aw8rg of any relevant audit information and to establish that it has been cornmunicated to the auditor. The Report of the Gtsv8mors is approvèd by ord8T c>f th8 Board of Governors and the Strategic R8POrt (included Ihereinl is approved by the Board ol Governors in their capacity as the directors at a meeting on 30 April 2024 and signed on ils behalf aiTm8n of GoveTnor8 E1mhurst 8allet School Trust 249 Bristol Road Edgbaston Bimiingham B5 7UH Dale.. 30 April 2024 12

INDEPENDENT AUDITORS, REPORTTO THE MEMBERS OF ELMHURST BALLET SCHOOL TRUST Oplnlon We have audited the fin8ncia1 statements ol Elmhurst Ballet School Trust Ithe'parent charitable company'l and its subsidiary Ithe'group'l forthe yearended 31 August 2023 which comprise the Consolidated Statement ol Financia1 Activities lincluding incorne and expenditu￿ account). the Consolidated and Charity Balance Sheets, the Consolidated and Charity Statements of Cash Flows and notes to the financial statements, including significant accounting policies. The financial Eporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting standards, including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland. (United Kingdorn Generally Accepted Accounting Practicel. In our opinitsn the financial statements.. give a tThe and fairview of the state of the gr(>up's and the parent charitable company's affairs as at 31 August 2023 and ol the group's incoming resources and application ol resources, including ils income and expendilure. for the year then ended., have been properly prepared in accordanTr with United Kingdom Generally AoGepled Accounting Praclioe.. and have been prepared in accordance with the requirements of the Companies Act 2006. Basls for oplnlon We conducted Dur audit in accordance with Inlemational Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under thDse standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and par8nt charitable cornpany in acoordance with the elhioal reqyirgments that are relevant to our audit of the financial statements in the UK, inclLJding the FRC'S Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. onclusion5 r81ating to going concèrn In auditing the firTrancial ststem8nts, we havg conolud8d that thé trustees. use of thè going concèm basi5 of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material unoertainlies relating lo even15 or oondilions that. individually or Collectively. may oast significant doubt on the gTOUP'S or parent charitable company's abilty to continue a5 a going concem for a period of at least twelve months from when the financial statements are authorised lor issue. Our responsibilities and the r8sponsibililies of the truslges Wlth rèsp8Ct to going concarn ara d8scrib9d in the Tèlèvant sections of this report. Other information The other inforrnatio¥n comprises the infomalion included in the Annu81 Report olhgr than the financial slal8rn9nls and our auditorfs report thereon. The Iru51ees are responsible for the other infom)ation contained within the Annual Report. Our opinion on the financial statements does not cover the other inlorniation and, except to the extent othe￿ise explicitly stated in our report, we do not express any forni of assurance conclusion thereon. Our responsibility is to read the other information and, in doing 50, oonsidfjr whether the other information 15 rnaleri811y inconsistent with the financi81 slatem8nts or our knowlèdge obtained in the course of the audit or othenmse appears to be rnaterially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to detem)ine whether this gives rise to a material misstatement in the financial statements themselves. 11, based on Ihe work we have performed, we conclude that there is a material misslalernent of this other information. we are Tequired to report that fact. We have nothing to report in this regard. Opinions on other matters prescribed by the Companiès Aet 2006 In our opinion, based on the work undertaken in the course of the audit.. the information given in the Trustees, Report. which includes th8 DiTeGlors' Rgport the Slralegio Rgport prep8red forth8 purposes of company law. for the financial y8ar forwhich the financial statements ara prepared is consistent with th8 financial stalomfynts., and the Dir8dors' Report and the Strat8gic Report included within the Tmstees, Report have been prepared in accordan￿ with applicable legal requirements. Matters on which we are requirgd to report by 8XCèPtion In the light of the knowledge and understsnding of Ihe group and the p8r8nt oharilable company 8nd their environment obtained in the cours8 of the audit, we havg not identifi9d malèllal misstatements in the Directors. Report or the Strategic Report includ8d within the Trusteès, Report. 13

INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF ELMHURST BALLET SCHOOL TRUST Icontinuedl We have nothing to r8POrt in respect of the followng matters where the Ctsmpanies Act 2006 r8quires us lo reportto you if, in our opinion.. adequate accounting records have not been kept by the parent chantablecompany, orretums ad8quat8forouraudit have not been received from branches not visited by us.. or the parent charilable company financial stalern8nts are not in agreernentwith the accounting records and rgtums., or certain disclosures of trustees. remuneratloll SP8cified by law are not made., or we have not received all the irTrlormation and explanations we require for our audit. Responslbllltles of trust•ès As explained more lully in th8 Slatemenl of Trustees, responsibililies set out on page 12, the trust8es Iwho are also the directors of the charitable company ft>r the purposes of company18wI are responsible lor the preparation of the financi81 stalernents and for being satisfied that they give a true and fair view. and for such inlemal conlrol as the trustees detgrtning is necessary lo enable the preparation ol financial statements that ar8 fr88 from material rnisstatement, whether due to fraud QT gfTOr. In preparing the financial statements, the trustees are responsible for assessing the group's and parent charitab10 company's ability lo continue as a going concem, disclosing, as applicable, tnatt8rs related lo going concern and using the going concern basis of aocounling unless the trustees either intend to liquidate the group or parent Gharitable company or tts cease operations, or havg no realistic altemative but to do so. Auditor's r85pon5ibilities for the audit of the financlal statements Our objectives are to obtain reasonable assurance about whetherthe financial stateThents as 8 whole are free from material misstatement, whether due lo fr8vd orerror, and to issue an auditorfs ￿port that includes ouropinion. Reasonable assurance is a high level ol assurance, but 15 not a guarant88 th3t an audit conducted in accordance with ISAS IUKlwill always dgt8ot a material misstatement when it exists. Misstatements can arise from fraud orerrorand are considered material if, individually or in the aggregate. they co)uld reasonably be expected to influence the economic dècisions of users taken on the basis of these financial staternents. The ext&nt to which the audit was consldered capable of detectlng irregularities, including fraud Irregularities are instances ol non-cornpliance with1aws and regulations. The objectives of our audit are to obtain sufficient appropriate audit eviden08 regarding compliance with laws and regulations that have a direct 8ff8ct on the determination of material amounts and disclosures in the finanoia1 stalernents. to perform audit prO￿dureS to help identify instances of non- cornpliance with other laws and regulations that rnay hav& a matgrial effect on the financial statements, and to respond appropriately lo identified or suspected non-compliance with laws and regulation5 identified during the audit. In relation to fraud, the objectivgs of our audit ar8 to identify and assess the risk of material misstatement of the financial slalements due lo fraud, to obtain sufficient appropriat& audit evidence regarding the assessed risks of material misstaternenl due to fraud through designing and implementing appropriate responses and lo respond appropriately to fraud or suspected fraud idgnlified during the audit. However, it is the primary ￿SponsIbl11fy of man8gernenl, with the oversight of those charged with governan￿, to ensure that the entity's operations are conducted in accordance wth th8 provisions of laws and regulations and for the prevention and detection of fraud. In identifying and assosging risks of m*eri81 misstslement in respect of irregularities, including fraud, the group audit engagement team". obtained an understanding ol thè nature of the sector. including the legal and regulatory framework that the group and parent charilable company operates in and howth8 group and parent charitable company a￿ complying wth th$ legal and regulatory framework.. inquired of management, and those charged with govemancè, aboullheirown identification and assessment of the risks of irregularities. including any known actual, suspected or alleged instances of fraud., discussed matters about non-compliance wth laws and regulations and howfrgud might occurincluding assessment of how and where the financial slalements may be susceptible to fraud. As a result of these procedures we consider the m05t significant laws and regulations that have a direct impa¢l on the financial staternents are FRS 102. Charities SORP IFRS 1021, Companies Act 2006, Charities Act 2011, the parent charitable company's goveming document, tax legislation and Charities (Protection and Social Inv95tm8ntl Act 2016. We performed udit procedures lo delect non-compliances which may have a material impact on the financial stalernents which included reviewng the financial statemènts including the Trustees, Report. remaining alert to new or unusual tran5actionswhich may not be in accordance wth the goveming docurnenls, inspecting correspondence with local tax authorities and èv8lu8ling advice reTrived from internallexternal advisors. 14

INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF ELMHURST BALLET SCHOOL TRUST Icontlnuedl Th8 Inosl significant laws and regulations that have an indirect impact on the financial slaternents are The Education Ilndependent School Slandardsl Regulations 2014, Keeping Child￿n Safe in Education under section 175 of the Educalion Act 2002, and the UK General Data Protection Regulation (UK GDPRI. We performed audit proc8dures to iriquire of management and those charged with govemance whether the charitable company is in compliance with these laws and T8gyl81ions and inspected correspondence with regulatory authorities. The group audit engagetNent tearn identified the risk of managernent override ol controls a5 the areas where the financial statements were most susceptible to material rni55tat8rn8nt due to fraud. Audit procedures perforn)ed included but were not limited to lestino manual journal entries and other adjustments, evaluating the business rationale in relation to significant, unusual tr8nsaotions and transactions entered into outside the normal cour58 of busin888. A further description of our responsibilities for the au(Jil of the financial statements is provided on the Financial R8porting Council's website at hlt .'Il¥hww.frc.or .uklauditorsres on51bilities. This description forms part ol our auditor's report. Use of our report This report is made solely to the charitab19 oompany's Members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been LJndertak8n so that we Might slate to Ihe charitable company's mernb8rs thos8 matters we are required to stale to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not acoepl orassume responsibility to anyone olher than the charitable company and the charitable companls members as a body, for OLJr audit work. for this report. or for the opinions we have formed. LSM bci,I,è LLF GARETH JONES (Senior Statutory Auditorl For and on behalf ol RSM UK AUDIT LLP. Stslutory Auditor Chartered Accountants Rivermead House Grov8 Park 7 Lewis Court Leicester LE191SD Date 1310512024 15

ELMHURST BALLET SCHOOL TRUST CONSOLIDATED STATEMENT OF FINANCIALACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 August 2023 Unrestricted Restrlcted Endowment Funds Funds Fund 2023 Total 2022 Totsl Notes INCOME FROM.. Donations and legacies.. Donations Charitable activities.. School fees r8ceiv8blg Syllabus classes incomè Summer School fees Grants reoeivable Coronavirus Job Rel8nlion Scheme Other trading actlvltles.. School shows income Rents and lettings Other inoomg Investments 51,818 99,858 151,676 121,428 4,015.765 71,049 133,775 362,340 4,015,765 71.049 133,775 362,340 3.749.989 103.007 94.566 362,970 16,365 26,344 70,733 224.920 121,440 26,344 70,733 224,920 138,359 15.294 77,709 310,986 118,866 16,919 Total income 5,078,184 99,858 16,919 5,194,961 4,971.180 EXPENDITURE ON.. Raising funds 44,598 44,598 28.613 Charitabl• activities Schtsol operating oosts 5.490,879 51,500 5,542,379 5,304,861 Total èxp•nditur8 5,535.477 51,500 5,586,977 5.333,474 NET IEXPENDITUREVINCOME BEFORE NET ILOSSESIIGAINS ON INVESTMENTS 1457,2931 48,358 16,919 1392,0161 1362,2941 Net losses on investments 1297,0351 115.3291 1312.3641 1424,1251 NET IEXPENDITUREIIINCOME 1754,3281 48.358 1,590 1704,3801 1786,4191 TRANSFERS BETWEEN FUNDS 13.15 51,358 148,3581 13,0001 NET MOVEMENT IN FUNDS 1702,9701 11,4101 1704,3801 1786,4191 Reconciliatlon of funds: Funds brought forward at 1 September 2022 16,176,733 101,761 364,943 16,643.437 17.429.856 Funds carrièd forward at 31 August 2023 15,473,763 101,761 363,533 15,939,057 16.643,437 16

ELMHURST BALLET SCHOOL TRUST CONSOLIDATED BALANCE SHEET ASAT 31 August 2023 Company Règistration No. 2932622 2023 2022 Notes FIXED ASSETS Tangible assets Investments 12,243,813 2,796,535 12.415,222 3.096.058 15,040,348 15,511,280 CURRENT ASSETS Debtors Short term deposits Cash at bank and in hand 10 422,714 842,869 725,898 305,427 1,228.735 491,269 1,991,481 2.025,431 CREDITORS.. Amount5 falling du8 Imlhin one y88r 11,092.7721 1893,2741 NET CURRENT ASSETS 898,709 1,132,157 TOTAL ASSETS LESS CURRENT LIABILITIES BEING NET ASSETS 15,939,057 16,643,437 FUNDS Endowment funds Restricted fvnds Unrestricted funds.. Designated resetves General reserve 13 13 363,533 101,761 364,943 101,761 14 15 14,710,903 762,860 14,930,338 1,246,395 15,473,763 16.176,733 TOTAL FUNDS 15,939,057 16.643.437 The financial statements on pages 16 to 35 were approved and authorised for issue by the Board of Govèmors on 30 April 2024 and were signed below on its behalf by.. J Harris- Chair of Governors 17

ELMHURST BALLET SCHOOL TRUST CHARITY BALANCE SHEET AS AT 31 Au9USt 2023 2023 2022 Note$ FIXED ASSETS Tangible assets Investments 12.243,813 2,796,536 12,415,222 3,096,059 15,040,349 15,511.281 CURRENT ASSETS Debtors Short term deposits Cash at bank and in hand 10 465,927 842,869 636,962 307,358 1.228,735 464,929 1,945,758 2,001,022 CREDITORS.. Amounts falling due within one year 11,081.6661 1882,3421 NET CURRENT ASSETS 864,092 1,118,680 TOTALASSETS LESS CURRENT LIABILITIES BEING NET ASSETS 15,904,441 16,629,961 FUNDS EndourTnent funds Restricted funds Unrestricted fijnds.. Designated reserves General r88erve 13 13 363.533 101,761 364.943 101.761 14 15 14,710,903 728.244 14,930,338 1,232,919 15,439,147 16,163,257 TOTAL FUNDS 15,904,441 16,629.961 Income ol £5,153,19912022. £4,914,909) relate5 to th6 par8nt undertaking. Expenditure of £S,566,35512022.' £5,293,488) relates to the parent undertaking, leaving a d8ficil priorto investment gains forthe financial year in the accounts of th& parent undertaking of £413,15612022.' deficit of £378,579). The financial statements on pages 16 to 36 w6ro appr(>vgd 8nd 8Uthorised for issue by the Board of Governors on 30 April 2024 and were signed below on its behalf by,. J Harris- Chair of Govemors 18

ELMHURST BALLET SCHOOL TRUST CONSOLIDATED STATEMENT OF CASHFLOWS FOR THE YEAR ENDED 31 August 2023 Notes 2023 2022 Cash flows from operating activitie$-. Net cash (used Inllprovlded by operatlng actSvltles 19 1245,7931 1241,8781 Cash flows from investing activities.. Dividends and interest from investrnents Purchase of property. plant 8nd equipment Proceeds from salg 01 investments Purchase of investments 134.281 130,9641 241,714 1254.5541 115,053 127,7771 312,324 1323,3381 Nel cash provided by invèsting activitios 90,477 76,262 Cash flows from financing activities= Cash flows attributable to endowment 4,079 3,813 Net cash provlded by flnanclng actlvltles 4,079 3,813 hange in cash and cash equivalents in thè ytar 1151,2371 1161,8031 Cash and cash equlwalents at the beglnnlng of the year 1,720,004 1,881,807 Cash and cash equivalents at thè ènd of the year 20 1.568,767 1,720,004 19

ELMHURST BALLET SCHOOL TRUST CHARITY STATEMENT OF CASHFLOWS FOR THE YEAR ENDED 31 August 2023 Notes 2023 2022 Cash flows from operatlng activities.. Net cash lusèd invprovided by operatlng actlvltiès 19 1308,3891 1232,2651 ash flows from Investing activities.. Dividends and Inte￿$t frorn investments Purchase of property, plant and equiprnenl Prtsceeds from sale of investments Purchase of investments 134,281 130,9641 241.714 1254.5541 115.053 127,7771 312,324 1323,3381 Net cash provided by investlng activities 90,477 76,262 ash flows from flnanclng activities.. Cash flows attributable to endowment 4,079 3,813 Net cash provid•d by financing actlvltles 4,079 3,813 Chang8 in cash and cash equlvalents in th• year 1213,8331 1152.1901 Cash and cash aquivalgnts at the beglnn5ng of the ￿ar 1,693,664 1.845,854 Cash and cash equivalents at the end of thè year 20 1,479,831 1,693,664 20

ELMHURST BALLET SCHOOL TRUST ACCOUNTING POLICIES GENERAL INFORMATION Elrnhursl Ballet School Trust i.the ch8riVI is a charitable company limited by guarantee and is incorporated in England and Wales (Company registration numb8r2932622 and charity number 10402861. The addr8ss of the Charity's registered office and prinoipal place of business is 249 Bristol Road, Edgbaslon. Birmingham, BS 7UH. The group consists of the oh8Tity and its one subsidiary, Elmhurst Enterpris9s Limited. The nature of the group's operations are set out in the Report of Ihe Govemors. The principal accounting policies 8dopled. judgements and key sources of esb'mation unoert8inty in the preparation of the financial statements are as 1011ows'. BASIS OF ACCOUNTING The financial statements of the GTOUP have been p￿pared in accordance with Aooounling and Reporting by Charities.. Statement ol Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and R8publiG of Ir818nd IFRS 1021 (effective 1 January 20151- Charities SORP IFRS 1021, the Financial Reporting Standard applicable in the UK and RepubliG of Ireland IFRS 1021 and the Compani85Ad 2006. They have been prepar8d under the historical cost convention, modified to include investments at fair value. Monetary amounts in these financial slalemenls are rounded to Ihe nearest whole 21. The financial statements are presented in steding which is also the functional currency of the charity. Elmhurst Ballet Scho>ol Trust meets the definition of a publiG benefit enlity under FRS 102 and has th8r8for9 applied the relevant public benefit requirements of FRS 102. BASIS OF CONSOLIDATION These financial statermenls consolidate the financial statements of Elmhursl Ballet School Trust Iyhe ChariWI and its subsidiary, Elmhurst Enterpri58s Limited Iyhe subsidiary") all financial statements ar9 rnade up to 31 Augusl. The financial statements consolidate the results of Ihg Charity and its wholly owned subsidiary on a line-by-line basis. A separate Statern8nt of Financial Aclivities and Statementof Comprehgnsive Income forthe Charity have not bèen pr9sen19d because the Charity has taken advantage ofthe exemption afforded by S8ction 408 of the Companies Act 2006. All intra%roup transactlDns, balances and unrealised gains on transactions belween Group enlilies are eliminated on consolidation. Unrealised losses are also eliminated unl&ss th8 transaction provides evidence of an itllP8irrnenl of the asset transferred. Wh8r9 necessary. adjuslments are made to the finanGig1 statements of subsidiaries to bring the accounting policies used into line with those used by other members of Ihe Group. GOING CONCERN Having Garried out a detailed ￿VIeW of theTmsts position and 115 forecasts at the date of signlngtrg ac¢ourTrls and with regard to the challenges presented by the current economic climate, the Trustges are satisfied thattheTrust has sufficientcash flows to meet Its liabilikn.es as they fall due for al least one yearfrom the date of approval oflhe accounts. TheTrustees considerthat the company has adequate 18courses lo enable it to continue in operational ex￿StenCa for the foreseeable future and Ihe 8cGounls are therefore prepared on a going concern basis. INCOME All incorne is included in the Ststem9nt of Financial Activities when the Group is legally ent￿ed to the income, there is probability of receipt and the amount can be quantifigd with reasonable accuracy. The followlng specific policies are applied to particular categories of incorne.. Fees r8o8ivable and charges for seNices are accountèd for in the year in which Ihe servlce is provided. Fees receivable aTe slated after deducting allowances, scholarships and other remissions allowed by the Group. Donations r&o8iv8bl8 forthe general purposes of the Group ar8 Gr8diled lo unrestricted funds. Donatlons subj8¢tlo specific wishes of Ihg donors are carried to relevant restricted funds. Legacies arè a¢Gounled for as soon as entitlement, probability and monetsry value can be established. Investment incorne is recognised on an accruals basis. Grants rec$ivable lincluding government grants) are recogni59d in tho Statement of Financial Activities wh8n th8 conditions for receipt have been complied with. Rent and lettings income is recognised on a receivable basis. Other income is accounted for in the year in which the sèrvicè is provided. 21

ELMHURST BALLET SCHOOL TRUST ACCOUNTING POLICIES Icontinuedl EXPENDITURE Liabilities are recognised as expenditu￿ as soon as there is a legal or construolive obligation to transfereconomic benefitto a third party, It is probable that a transferol economic benefitwill be required in settlernent and the amount of the obligation can be measured reliably. The following specific policies are applied to particular categories of expenditure.. Costs of raising funds are thos8 costs incurred in attracting volLintary income and those incurr8d in trading 8Qtivili85 that raise funds. Charitable activities include expenditure on providing education and include both d1￿cl costs and support costs relating to the activity. Support costs include central functions and have beèn allocated to acliMtycostcate9ories on a basis consistentwth the us6 of r9sources e.g. staff costs by the time spent and other costs by their usage. A119XP8nditure is inclusive ol irrecoverable VAT. TAXATION The Charity is considered tts pa55 the1gs1s sel out in Paragraph 1. Schedule 6 of the Finance Act 2010 and therefore il m88ls the definition of a charitable comp2nyfor UK corporation tax purposes. Accordingly. the Charity is potentiallyexemptfrorn tax respect of income and capital gains received wthin categories covered by part 11, chapter 3 of the Corporation Tax Act 2010 or section 256 of the Taxation of Chargeable Gains Act 1992, to the exient that such incorn8 or gains are applied exclusively to charitable purposes. FUND ACCOUNTING General unrestricted funds comprisg the accumulated surpluses and deficits on general funds. They aT8 avai18ble for use at the disor8tion of the Govemors in furtheraneé of the general charitable objectives. Designated funds cornprise un￿strICted funds which have been set aside by th8 GovgTnors forparb'cularpurposes. The aim and use of such funds is sel out in the financial stslements. Restricted funds are created when grants and donations are received eitherfor a particular area orpurpose, the use ofwhi¢h is rgStrict8d lo that area or purpose. Expenditure is charged to the Ststsrngnt of Financial Activities when incurred. An endowment fund has been established to fund scholarships. The capital is invested porpetuity and under the terms of the endowment, investment relums up to 2011 fomi part of Ihe endowrnent capital. TANGIBLE FIXED ASSETS Tangible fixed assets are initially m$asured 81 oost and subsequently measured at cost, net of depreciation and 8ny irnpairment losses. Déprèciation is provided on all tangible fixed assets at rates calculated towrite èach asset dovm lo ts estimated residual value evenly over its expected useful life, as follows'.- Long leasehold buildings Short leasehold property Fixturgs, fittings and equipment Igeneral) Fixtures and fitting5 Ilhealrel 75 years L8nglh of1gas8 5- 10 years 10 years Assets in Ihe course of ctsnstruction are not depreciated unti1 brought into use. A reviewfor impairtn9nt of 8 fixed asset is carried out if events or changes in circumstancès indioale thatlh8 carying value of any fixed asset may not b9 recoverable Shortfalls beiween the carrying value of fixed assets and their recovèrable amounts are recognised as impairment Ioss85. Itnpairmgnts are recognised in the Statement of Financial Activities. INVESTMENTS Inilial investments are stated at IheirtransaGlion value and subsequently measured atfairvalue. Movements in th8 V81u81ion of initial investments are included wthin gains and losses in investment assets in the Ststemenl of Financial Activiti69. Fair value is rneasured by reference to bid prices. Interests in subsidiaries a￿ initially measur8d at cost and subsequently measured al cost less any impaim)ènl. An assessment for impairment is made at each reporting dalo. 22

ELMHURST BALLET SCHOOL TRUST ACCOUNTING POLICIES Icontlnuedl RETIREMENT BENEFITS Retirement benefitsforthe teaching staff of the Group were provided by the Teachers, Pension Scheme ITPSI until 31 March 2022. The TPS is an unfunded schetne. Contributions to the TPS are calculated so as lo spread the cost of pensions over employees, working liveswith the Group in such a way that the pension cost is a substantially level pgrcentage of current and future pensionable payroll. The contributions are detemined by the Govemment Actuary on the basi5 of quadrennial valuations using a projected unil method. The TPS is a rnulti-ernployer scheme but sufficient inlonnalion is not available to use defined benefit accounting and therefore it 15 accounted for as 3 defined contribution scheme. with the amount charged to the Statement ol Financial Activities being the contributions payable in the y8ar. Differences beiween contributions payable in the year and contributions actually paid are shown as either accruals or p￿paYMentS. The Group operates 2 defined contribution schemesforthe benefit of its non-teaching staff. From 1 Apri12022 teachers were gnrolled into a third defined contribution scheme. The pension cost charged in the Statetnent of Financial Activitl8S 15 the amount ol the contribLJtions payable for the year. Differences between contribulions payable for the year and contributions actually paid are shown as either accruals or prepayments in the balance sheet. OPERATING LEASES Alllgases are treated as operating leases on the basis that the leasing agreements do nottransferto the school subst8nli811y all ol the risk5 and rewards incidental to ownership. The annual ￿ntalS arising are charged to the Statement of Financial Activities on a strai9ht1ine basis over thè tèrm of th9 lease. ENTRANCE FEES AND DEPOSITS Entrance fees 8nd deposits 8re charged lo students upon arrival at the School. These are refundable to students wh8n they leave the School unl8SS there are unpaid fees in which case they are used to supplement these unpaid fees. They are therefore held as a creditor until the students leav8 th8 School. CASH AT BANKAND IN HAND Cash al bank and in hand include rnonies held on short term deposits with original maturity of three months or less with cognised banks and building soci81ies. STOCKS Stocks are valued at the lower of cost and estimated selling pri￿ less costs to complete and sell. Provision is rnade for obsoletè and slow moving items. FINANCIAL INSTRUMENTS The Group has elected to apply the provisions ol Sectlon 11 'Bas1c Finan¢i81 In$lrumgnts' and Section 12 '0th8r Financial Instruments Issues, of FRS 102, in full, to all of its financial instruments. Financial a55ets and financial li8bililies are recognised when the Group becomes a party to the contractual provisions of the instrument, and are offset only when th8 Group curr8ntly has 81ggally enforceable right to set off the recognised amounis and intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously. Financial assets Trade debtors, grDUP debtors other debtors Trade debtors, group d8blors and olherdeblors lincluding accrued incomelwhich are ￿￿1Vable wthin one yearand which do not constitute a financing transa¢lion are initially rn88sured al the transaction price and are subsequently measured at amortised cosl, being the transaction price less any amounts settled and any irnpairmenl losses. A provision for impairrnent of Irade debtors is established when there is objective evidenee that thè amounts due will not be collected 8oGording to the original terrns of the contracl. Impairment losses are ￿CogniSed in profit or Ic>ss for the excess of the carrying value of th8 tT8de debtor over Ihg prgsent value of the future cash flows discounted using Ihe original effective Inte￿$t rate. Subsequent reversals of an impaimient loss that objeolively relate lo an eventoccurring afterthe impaimient loss was recognised, a￿ recognised immediately in profjt or loss. Financial liabilities and equity Financial inslrum8nls are Glassified as liabilities and equity instruments according to the substance of the contractual arrangements entered into. An 9quity instrument is any Gonlract that evidences a residual interest in the assets of the Group after deducting all of its liabilities. Tr8de creditors, other creditors and accruals Trade creditors and other C￿ditorS lincluding accruals) payable within one year that do not Gonslitute 8 financing transaction are initially measured at Ihe transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled. 23

ELMHURST BALLET SGHOOL TRUST ACCOUNTING POLICIES Icontinuedl FINANCIAL INSTRUMENTS Icontinuedl Derecognition of I￿￿3￿cIal assets 8nd li8biliÈie8 A financial asset is d8recognised only when the Gontractual rights to cash flows expl￿ or are settled, or substantially all the risks and rewards of ownership are transferred to another party, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another partythat is able to sell the 85sel in its entirety lo an unrelated third paty. A finanoial li8bi1ity lorpartthereofj is derecognised when the obligation specified in th6 contract isdischarggd, cano8119d or expires. JUDGEMENTS AND KEYSOURCES OF ESTIMATION UNCERTAINTY Estimates and judgements are continually evaluated and are based on historical experience and other factors. including gxpect81ions of future events that are believed lo be reasonable under the circumstances. Th8re arg no oritical accounting estimates and arBas of judggment to note. 24

ELMHURST BALLET SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2023 SCHOOL FEES RECEIVABLE 2023 2022 School fees Less '. Total grant funding, bursaries and allowances 4,733.042 1717,2771 4,311,045 1561,0561 4,015,765 3,749,989 ANALYSIS OF TOTAL EXPENDITURE Staff costs Other Depreclatlon 2023 2022 Raising funds.. Other fundraising costs 33,522 11.076 44.598 28,613 Charltable actlvltles.. Direct costs.. Dance costs Acad8rnlC Boarding Property and domestic Support Costs of Schoolin9= Printing, postage, stationery and telephone Advertising and mad(eting Insurance Bad (Jebl Provision Staff costs Other support costs Governance costs 1.239.619 751,224 473,045 229,772 304,613 101,951 890,159 515.660 1,544,232 853,175 1,363,204 1,011,644 1,541.845 778,873 1,230,125 983,876 266,212 41,149 71.907 53,902 6,000 41,149 71,907 53.902 6,000 392,511 114,378 90,277 28,094 52.205 43,648 6,000 335,968 106.188 198.039 392,511 114.378 73.057 17,220 3,103,391 2,172,776 266,212 5,542,379 5,304,861 Total expenditure 3,136,913 2,183,852 266,212 S,586,977 5,333,474 Support costs have been 811oc8led lo cost C8legories on a basis Gonsislenl with use of resources 8.g. stsff costs by the tirng sp8nl and olhgr costs by their usag8. 25

ELMHURST BALLET SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2023 EMPLOYEES The average monthly number of persons ernploy9d by the GTOUP during the year was.. 2023 No. 2022 Total staff lacluallfull time equivalentl 108175 101173 Split of fvll time equivalent by cat8gory'. Adrninistralion Teaching Support staff 10 39 26 10 38 25 75 73 2023 2022 Staff costs consist of.. Wages and salarie5 Social security costs Employer contributions to defin9d contribution schemes Other staff costs 2,570,646 235.259 256.161 74,847 2,367,611 220,603 269,523 115,265 3,136,913 2,973,002 Included in oth9r stsff oosts above are agency staff costs of £23,47412022'. £110,167). D6tails of staff receiwng rernuneration (excluding employer pension costs) in excess of £60,000 are shown below.. 2023 No. of staff 2022 No. of staff £60,001-£70,000 £70,001-£80,000 £80,000 - £90,000 £120.000- £130,000 Pension costs in respeol of the above employees totalled £53,12212022. £58.0231. No12022'. th￿e) higher paid employees Wgre accruing benefits under the defined b8n8fit pension scherne until 31 March 2023. None of the Govemors recèivèd gny remuneration in Ihe current year or prioryear. No Gov8morswere reimbursed for travel expenses in the current y6ar12022'. none). Key management personnel are those having authority and responsibilty, delegated to them by the govemoTS, for planning, directing and controlling the 8clivilies of the Group. Remuner8lion for key management personnel, including gmployer's national Insuran￿ contributions and ¢ontribubons to the pension scheme, amount lo £674,45012022.' £599,794). 26

ELMHURST BALLET SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2023 PENSION COSTS Certain of the Group's employees belorrfJed to the Teachers, Pension Scheme I'TPS'I until 31 March 2022. Teachers, Penslon Scheme The Teachers, Pensions Scheme I'TPS'I is a statutory, contributory, defined benefit scheme, govemed by the Teachers, Pensions Scheme Regulations 2014. The TPS is an unlunded scheme and members contribute on a'pay a8-you￿0, basis. and along wlh employers, contributions. are credited to the Exchequer. Valuation of the Teachers, Penslons Scheme The Government Actuary, using normal actuarial principles, conducts a formal actuarial review of the TPS in accordance with the Public Service Pensions Ivaluations and Employer Cost Capl Directions 2014 published by HM Treasury. The aim of the review is to specify the level of future contributions Actuarial scheme valuations are dependerTrt on assumptions about the value ol future costs. design of benefits and many other factors. The latest actuarial valuation olthe TPS was carried out as at 31 March 2016 and in accordancewith the Public SeNce Pensions (Valuations and Ernployercost Capl Direclions 2014 except it has been prepared following the Government's decision to pause the operation of the cost control mechanisms at the lime when legal challenges were still pending. The valuation report was published in April 2019. The key results of the valuation and subsequent consultation are.. Total scheme liabilities for service (pensions currently payable and the estimated cost of future benefits) ol Value of notional assets lestimaled future contributions together wlh the proceeds from the notional investments held al the valuation datel of £196 billion Notional past service deficit of £22 billion Discount rale is 2.4% in excess of CPI As a result of the valuation, new employer contribution rates We￿ set at 23.68 /0 of pensionable pay from September 2019 onwards (compared to 16.48 /0 during 2018119.1 Th$ TPS is a mulb"_ernployer plan and there is insufficient infomation to account lor the schème a$ a defined benefit plan so it is accounted for as a defined contribution plan. 2023 2022 Teachers, Pension Scheme contribution cost 156,860 The￿ were oulsianding contributions at 31 August 2023 of £nll {2022'. £nill. The TPS is a multi-employer pension plan and the￿ is insufficient information lo account forthe scheme as a defined benefit pension plan so it is accounted for as a defined contribution plan. Following a consultatitsn wth staff, the Govem(>rs madè a decision to leave the TPS and offer an altemative defined contribution pension scheme with effect from 1 April 2022. Therefore the 2022 costs above represent 2 terms, of contributions. Th8 Group also operates 3 defined contribution schemes for non-te8ching staff. Forlhe period employerctsntributions were a fixed percentage of salary between 30/0 and 16¢/0. The Group has no potential liability otherthan the paymentol all contributions to an assurance company Contributions during the ye8ramounted to £256,16112022.' £112.6631.Thg inC￿aSe is due to Ihe replacemenl of the previous defined benefit scheme with a new defined contribulion scheme in April 2022. NET INCOME 2023 2022 Nel income is stated after charging.. Operating lease rentsls.. Plant and rnachinery Land and buildings Auditors. remuneration 8.106 183,427 32,750 2,550 266,214 9.138 180,813 25,850 2,350 278,665 for audit services for taxation services Depreciation 27

ELMHURST BALLET SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2023 INVESTMENT INCOME 2023 2022 Bank interest reoeivable Investment income 15.382 122.977 747 118.119 138,359 118,866 TAXATION As the Charity has attained charitable status, the trustees corTrsiderthatth8re is no inoome subjeclto corporation taxfor the y8ar ended 31 August 2023. The subsidiary undertaking has a tax liability of £nll12022'. £nill for the year, TANGIBLE ASSETS Long leasehold bulldlngs Short leasehold property Fixtures, rittings and equipment Elmhurst Enterpris85 Total Charity Total Group Ltd COST Al 1 September 2022 Additions Disposals 15.743,888 53,367 1,958,174 94,805 17,755,429 94.805 5,124 17.760,553 94,805 Al 31 August 2023 15,743,888 53,367 2,052.979 17,850.234 5,124 17.855,358 DEPRECIATION At 1 September 2022 Charge for the year Disposals 3,438,453 215.877 28,464 3,558 1,873,290 46,779 5,340,207 266,214 5,124 5,345,331 266,214 Al 31 Augu512023 3,654.330 32.022 1,920.069 5.606,421 5,124 5,611,545 NET BOOK VALUE At 31 August 2023 12,089,558 21,345 132,910 12,243,813 12,243,813 At 31 August 2022 12,305,435 24,903 84,884 12,415,222 12,415,222 INVESTMENTS Group Charity 2023 2022 2023 2022 Falr value at 1 Soplgmbtrr 2022 Additions at cost Disposals prO￿edS Unrealised Ilossllgain Realised Ilossllgain on disposal 3,096,058 254,554 1241,7141 1304,0121 18,3511 3,509,169 323,338 1312,3241 1378.4731 145.6521 3,096,059 254,554 1241,7141 1304,0121 18,3511 3,509,170 323,338 1312,3241 1378,4731 145,6521 Fair value at 31 Augu512023 2,796,535 3.096.058 2.796.536 3.096,059 Historic cost at 31 August 2023 2,820,751 2,830,563 2,820,752 2,830,564 The Charity holds an investment of £112022." £11 ￿presentIng the ordinary sh8r8 capital of its subsidiary Elmhurst Enterprises Limited which is eliminated in the Group. The remaining investments relate to £311.50012022.. £313,990) held in the M&G Charifund Equity Investment Fund IOT Charities and investments managed by Harris Allday of £2,485,03412022'. £2,782,067). 28

ELMHURST BALLET SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2023 10. DEBTORS Group harity 2023 2022 2023 2022 Ouistanding feès Amount due from trading subsidiary Other debtors Prepayrngnls and accrued income 77,632 13,285 77,632 82,430 131.811 174,054 13,285 63.369 54.299 176,405 171.028 174,054 115.737 176,405 422,714 305,427 465.927 307.358 11. CREDITORS.. Atnounts falling due wthin one ye8T Group Charlty 2023 2022 2023 2022 Trade creditors Entranoe fees refundable and deposits Other taxation and soci81 security Other creditors Accruals and deferred income 85,562 383,026 67.553 48,293 508,338 155.578 320,278 13,136 12,969 391,313 85,562 383,026 63,297 48,293 501.488 151.520 320.278 13,113 12,969 384.462 1,092,772 893.274 1,081,666 882,342 Deferred income comprises incom9 rec8ived in advance for aided places under the DADA scheme of £261,184 12022." £274,925) and fegs and bursaries in advance of £12.99612022'. £nill. Total defer￿d income of £274,180 12022.. 274,9251 Charlty and Group 2023 Movement on deferred income.. DefeTrEd income al 1 S8ptember 2022 Released in year Deferred in year 274.925 1274,9251 274,180 Deferred income at 31 August 2023 274.180 29

ELMHURST BALLET SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2023 12 FINANCIAL INSTRUMENTS Group Charity 2023 2022 2023 2022 The carrying value of the Group's and Charity's financial instnjrnents at 31 August were.. Flnanclal assets.. Financial assets at fair value Fixed asset investments 2,796,535 3,096,058 2,796,535 3,096,058 Total 2,796,535 3.096.058 2,796,535 3,096.058 13. ENDOWMENT AND RESTRICTED FUNDS Charity and Group Brought forward Gainsl (Ioss851 on Investments Incom& ExpèndFtura Tran$tgr Carrled foTward Endowment Funds Scholarship endowment 364,943 16,919 115,3291 13,0001 363,533 Prlor Year Charity and Group 8rgught forward Gainsl Ilos$esl on investmènts Incom• Exp8nditurg Transfvrs Carrled fO￿ard Endowment Funds Scholarship endowment 371,782 14,827 118,6661 13.0001 364,943 Under the Igrrns of part of the endowment, investment return up until 2011 wll form part of the endowment capital. Investment income received thereaftèr isto bo used to fund scholarship$. The tTansf&rrepresgnts th8 income used to fund a scholarship during the year. 30

ELMHURST BALLET SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2023 13. ENDOWMENT AND RESTRICTED FUNDS Icontinuedl Brought fO￿ard Carried fo￿ard Income Expendlture Transfers Restricted Funds DfE Grants Donations 17,103 84,658 17,103 84.658 99,858 151,5001 148.3581 101,761 99,858 151,5001 148,3581 101,761 Prlor Year Brought forward Carried forward Income Expendlture Transfers Restricted Funds DfE Grants Donakn'ons 29,263 98,793 112,1601 189,2031 17,103 84,658 76,768 11,7001 128.056 76,768 1101,3631 11,7001 1 D1,761 DfE Grants These gmnts provide toward5 the c05t5 of our outreach programm8 and refurbishmenvreplacemenl of equipment. Transfers represent capitalised spending completed in line with the temis of the restriction. Donatlons This oonsi5ts of seveT81 small don8lions which have been given to the Charity to be used in accordance with the shes of the donors. Transfers represent capitalisèd spending compla18d in ling wth the leTms of the Testriclion. 14. DESIGNATED FUNDS Charity and Group Brought forward Carried forward Incomè Expenditure Tran5fgrs Capital resetve Repairs reserve 12,330,338 2,600,000 1219,4351 12,110,903 2,600,000 14,930,338 1219.4351 14,710,903 Prlor Year Charity and Group Brought fonyard Carried forward Income Expenditurg Transfer8 Capital reserve Repairs resetve 12,549,773 2,600,000 1219,4351 12,330,338 2,600,000 15,149,773 1219,4351 14,930,338 The capital reserve represents the investment in leasehold land and buildings on the School site. The transfer T8pres8nls the movement in the net book v8lu8 of18asehold land and buildings during the year. The repairs reserve represents monies set aside for major repairs to the fabric of the building. Transfers ￿p￿Sentthe moni88 set aside by the Governors during the year. 31

ELMHURST BALLET SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2023 15. GENERAL RESERVE Group Charity 2023 2022 2023 2022 At 1 Seplember 2022 Nel lexpenditurey income for the year Tiansf8r from capit81 reserve Transfer from endowtnent reserv8 Transfer from restricted ￿serve 1,246,395 1754,3281 219,435 3,000 48,358 1.780.245 1757.9851 219,435 3,000 1,700 1.232,919 1775,4681 219,435 3,000 48,358 1,783,056 1774,2721 219.435 3,000 1,700 At 31 August 2023 762,860 1,246,395 728,244 1.232.919 16. COMMITMENTS UNDER OPERATING LEASES 2023 2022 At 31 August 2023. the Group and Charity had total fLJturè rninirnum leas8 payments under non-cancellable operating leases as followg.. Plant and machinery.. Amounts payable within 1 year Amounts payable in 1 - 2 years Amounts payable in 2- 5 yeaTS Amounts payable in TlloTe than 5 year5 Land and buildings.. Amounts payable within 1 year Amounts payable in 1 - 2 years Amounts payable in 2 - 5 years Arnounts payable in MO￿ than 5 years 5,140 5,140 10,280 2,376 179,885 169,678 506,250 168,750 179,885 179,885 507,178 337,500 1,045,123 1,206,824 17. ANALYSIS OF GROUP NET ASSETS BETWEEN FUNDS Unrastrictod funds Restricted fund5 Endowment funds Total Fund balances at 31 August 2023 are rspr8sen19d by.. Tangible fixed assets Fixed asset investments Nel current 8&8ets 12.243,813 2,485,035 744,91 S 12,243,813 2,796,535 898,709 311,500 52,033 101.761 Total net assets 15.473,763 101,761 363,533 15,939.057 Prlor Yèar Unr85tricted nds Restricted funds Endowment funds Total Fund balances al 31 August 2022 are represented by.. Tangible fixed assets Fixed asset investmènts Net current assets 12.415,222 2.782.068 979,443 12,415,222 3,096,058 1,132,157 313,990 50,953 101.761 Total nel assets 16,176,733 101,761 364.943 16,643,437 32

ELMHURST BALLET SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2023 17. ANALYSIS OF CHARITY NET ASSETS BETWEEN FUNDS Unrostrictèd funds Rèstriet&d funds Endowment funds Total Fund balances at 31 August 2023 a Tepresented by.. Tangible fixed assets Fixed asset investments Net current assets 12,243,813 2,485,036 710,298 12,243,813 2,796,536 864,092 311,500 52,033 101,761 Total nel assets 15,439,147 101,761 363,533 15,904,441 Prior Year Unrestricted funds Restricted fund5 Endowment funds Total Fund balances at 31 August 2022 are represented by.. Tangible fixed assets Fixed asset inve5ttNent5 Net current assets 12.415.222 2,782,069 965,966 12,415,222 3,096,059 1,118,680 313.990 50,953 101,761 Total nel 8888ls 16,163.257 101.761 364,943 16,629,961 18. CAPITAL COMMITMENTS As at 31 August 2023, the Group and Charfty had contracted capital commitments of£nil12022.. £20,020). RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES Group Charity 2023 2022 2023 2022 Net lexpenditurellincome for the reporting period 1704,3801 1786,4191 1725,5201 1802,7061 Adjuslmerits for.. Depreciation charga$ Lossesllgainsl on investrnents Dividends, inlerest and rents from inveslrllents Ilncr8aseydeore8se in d8blor8 (Decreaseyincreasè in ¢r8ditors 266,214 312,363 1138,3591 278,665 424,125 1118,8661 266,214 312,363 1138,3591 278,665 424,125 1118,8661 1117,2871 135,656 129.2941 110.0891 1158,5691 135.482 751 114,2341 Net cash (usèd inl1pro￿ded by operating actlvltles 1245,7931 1241,8781 1308,3891 1232,2651 20. ANALYSIS OF CHANGES IN NET FUNDS At start of year Cash flows At•nd tsf￿ar GROUP Cash at bank and in hand Notic8 deposits Iless than 3 months) 491,269 1.228,735 234,629 1385,8661 725,898 842,869 Total cash and cash equlvalents 1,720,004 1151,2371 1,568,767 33

ELMHURST BALLET SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2023 20. ANALYSIS OF CHANGES IN NET FUNDS leontinuedl At start of year Cash flows Al end Of￿ar Charlty Cash at bank and in hand Notice deposits Ile5S than 3 monlhsl 464.929 1,228,735 172,033 1385,8661 636,962 842,869 Total ca$h and cash gquivalents 1,693,664 1213,8331 1,479,831 21. SUBSIDIARY COMPANY The charitable company owns the entire issued share capital of Elmhurst Enterprises Limited, a company incorporated in England and Walgs (registered number 044424391. The principal activity of Elmhurst Enterprises Limited is that of providing facilities. The results of Elrnhuist Enterprises Limited are consolidated into these accounts. Forthe year ended 31 AkJgus12023, Elrnhursl En18rpri58s Litnited T¢corded tumoverof £79,97912022'. £85,6811, cost of sales and expenses of £45.36312022.. 269,3961 less corporation tax of £nll12022.' £nill giving rise to a Tet3in8d pr(>fit of £34,61612022.. £16,285). During the year the subsidiary company has distributed £13,47612022.' £nill to the par8nt company in respect of 2022 profits. Net assets al 31 August 2023 were £34,61712022.' n8t assols £13,477). 22. RELATED PARTY TRANSACTIONS During the year, the Charity charged Elmhurst EnleTprises Limited £33.00912022.. £52,597) respect ol staff costs, catering oosts and tsGi1ities Costs. Al the year 8nd, the Charity was owed £82,43012022." £63,369) by Elmhursl Enterprises Limited. J Harris, a governorof Elmhurst Ballet School Trust, is also a d1￿Ctor of Health Claims Bureau. During the year, Health Claims Bureau provided management and advice serviGes lo Elmhurst Ballet S¢hool Trust amounting to £18,792 12022. £15,9101. M Baldwn, a governor of Elmhurst Ballet School Trust until 21 October 2022, provided choreographic serwo$s amounting to £nil during the year12022'. £8301. None of the above balanc8S Wth related parties is Secured. 34

ELMHURST BALLET SCHOOL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2023 23. COMPARATIVE CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITES Unrestrlcted Funds Restrlcted Funds Endowment Fund 2022 Total INCOME FROM.. Donatlons and legacles.. Donations Charitsble activities.. School fees receivable Syllabus classes incom9 Sumtner School fees Grants receivable Coronavirus Job Retention Scherne Other trading activities.. School shows Income Rents and lettings Other income Investments 44,660 76,768 121.428 3.749.989 103,007 94,566 362,970 16,365 3,749,989 103,007 94.566 362.970 16,365 15,294 77,709 310,986 104.039 15,294 77,709 310,986 118,866 14,827 Total Income 4,879,585 76,768 14,827 4,971,180 EXPENDITURE ON-. Ralslng fvnds 28,613 28,613 Charitable activitie$ School operating costs 5,203,498 101,363 5,304,861 Total expenditure 5,232,111 101,363 5,333,474 NET IEXPENDITUREYINCOME BEFORE NET ILOSSESIGAINS ON INVESTMENTS 1352,5261 124,5951 14,827 1362,2941 Nel Ilossesygains on investrngnts 1405,4591 118,fj661 1424,1251 NET IEXPENDITUREVINCOME 1757,9851 124,5951 13,8391 1786,4191 TRANSFERS BETWEEN FUNDS 4,700 11.7001 13.0001 NET MOVEMENT IN FUNDS 1753,2851 126,2951 16,8391 1786,4191 R•eoneiliation of funds.. Funds brought forward at 1 September 2021 16,930,018 128.056 371.782 17,429,856 Funds carrled forward at 31 August 2022 16,176,733 101,761 364,943 16,643,437 35