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2021-03-31-accounts

Company number 4109324 Charity number 1088336

BalletBoyz Ltd

(Limited by Guarantee)

Report and Financial Statements

for the year ended 31 March 2021

Breckman & Company Ltd Chartered Certified Accountants 49 South Molton Street London W1K 5LH

BalletBoyz Ltd

(Limited by Guarantee)

Contents

Page
Reference and Administrative Details 1
Trustees' Report 2 - 11
Auditors' Report 12 - 14
Statement of Financial Activities (including Income and Expenditure Account) 15 - 19
Balance Sheet 20
Cash Flow Statement 21
Notes to the Financial Statements 22 - 31

BalletBoyz Ltd

(Limited by Guarantee)

Reference and Administrative Details

Constitution

The company is a private company limited by guarantee registered in EW - England & Wales, company number 4109324 and its governing document is its Memorandum and Articles of Association. The company is a registered charity, number 1088336.

Directors and trustees

The directors of the charitable company ("the charity") are its trustees for the purpose of charity law and throughout this report are collectively referred to as the trustees.

The Board of Trustees may from time to time and at any time appoint any member of the company as a member of the Board of Trustees either to fill a temporary vacancy or by way of addition to the Board of Trustees, provided that the prescribed maximum (12 members) be not thereby exceeded. Any member so appointed shall retain his or her office only until the next Annual General Meeting, but he or she shall then be eligible for re-election.

Policies and procedures adopted for the induction and training of trustees are ongoing and incorporated indirectly into the regular trustees' meetings.

The trustees during the year and since the year end, were:

Michael Timothy Waldman (Chair) Lady Nathalie Birkett appointed 1 August 2021 Mary Anne Cordeiro Dame Vivien Duffield DBE resigned 14 October 2020 Natasha Duffield Anne Fowler Lady Gavron Thomas Hope Phoebe Reith Ibery Dennis Van Schie resigned 22 October 2020 Secretary Victoria Collins up to 31 July 2021 Nike van Schie from 1 August 2021

Artistic Directors

Michael Nunn OBE William Trevitt OBE

Auditors

Breckman & Company Ltd, Chartered Certified Accountants, 49 South Molton Street, London W1K 5LH.

Bankers

Royal Bank of Scotland plc, 40 Islington High Street, London N1 8XB.

Registered office and operation address

52a Canbury Park Road, Kingston, Surrey KT2 6JX.

1

BalletBoyz Ltd

(Limited by Guarantee)

Trustees' Report

The trustees present their annual report together with the financial statements of the charity for the year ended 31 March 2021 which are also prepared to meet the requirements for a directors' report and accounts for Companies Act purposes.

The reference and administrative details set out on page 1 form part of this report. The financial statements comply with Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

Principal activity

The principal activity of the Company is the advancement of education for public benefit by the promotion of the arts, in particular but not exclusively in the art of dance.

Objectives and activities

'To make great art and seek out new audiences'

These are the twin ambitions and the guiding principles of BalletBoyz, which was founded in 2000 by multi-disciplinary artists Michael Nunn OBE and William Trevitt OBE. Our approach is simple: to make the most interesting performances possible by working with the very best choreographers, composers, artists and designers, and to reach new audiences by presenting it in the most accessible way possible across a range of disciplines.

Over the last 18 years BalletBoyz has been awarded Olivier, Southbank Show, TMA and Time Out Awards (among others), and was named Best Independent Dance Company by the Critics' Circle National Dance Awards in 2013. BalletBoyz has also won an International Emmy, a Rose D'Or, and a Golden Prague Jury Grand Prix for television work.

Mission Statement

BalletBoyz promotes excellence in dance through live performance, film, and participation, creating a legacy of outstanding new work that appeal to a wide audience. BalletBoyz core aims are made up of three individual, but co-dependent strands, each with the company's repertoire and creative output at its core.

BalletBoyz Ltd core aims and objectives are:

To Create - making original and adventurous dance works that simultaneously demystify, provoke and, most importantly, entertain.

To Present - taking an accessible approach to presenting live and digital work which allows us to widely share art around the UK and internationally, whilst continuing to develop new markets and audiences.

To Share - using the broad scope of the Company's activity both in person and online to continue developing projects which reach a diverse collaborators and audiences.

In shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commission's guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'.

In recognition of our position as an Arts Council NPO, the Trustees have also considered and referred to the Arts Council England 10-year plan and vision "Let's Create", and have incorporated its four Investment Principles (Ambition & Quality, Inclusion & Relevance, Dynamism, and Environmental Responsibility) within and throughout the planned activity in the coming year and beyond.

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BalletBoyz Ltd

(Limited by Guarantee)

Trustees' Report

Strategies for achieving its aims and objectives

Over the past 20 years, there has been steady growth in both the artistic credibility of the company and the reception from audiences, theatre programmers, and programmers of digital content in the UK and abroad. The work we do is diverse, innovative, accessible, and of the highest quality, which is reflected in our repertoire of award-winning choreography and digital work in a broad range of styles. Over the coming years we have several aims that encompass a consolidation of what we are currently achieving alongside a set of ambitious projects that will challenge the company artistically, explore new markets and audiences, and diversify our income streams.

Following the COVID-19 outbreak we have had to assess our plans for the coming years and adapt to the challenges of our changing artistic environments. We will continue to commission new creations that are diverse in terms of content, style, and creative team, and will use our strong background in digital content creation to ensure our plans and projects are robust in a risky artistic climate. In 2021/22 we will develop and release a feature film and will begin work on a further series of short films, to be adapted into a stage show for national and international touring. Alongside these projects we will also search for new and diverse talent, and will seek out the best emerging dancers, choreographers, composers, artists, and filmmakers.

We have an established touring circuit, and in order to present our work to as broad an audience as possible we will seek to maintain and develop existing touring markets both in the UK and abroad. Whilst touring has not been possible in 2020/21 and for the majority of 2021/22, we intend to re-establish the Company on the touring circuit in Spring 2022. We will forge new relationships with programmers and directors in order to develop a model that will allow us to diversify our work and audiences.

BalletBoyz remains committed to sharing our work as much as possible and uses a wide range of platforms to do so. These include digital resources, face-to-face workshops (when possible to resume), and bespoke programmes for specific groups. We will continue to refine and develop our current offerings (MoovBank, Parkinson's CAN Dance, Dance Together, and on-tour workshops), as well as exploring new opportunities through further CPD, training, alternative funding models, local partnerships, and simply connecting with more people.

Achievements and performance 2020-21

Stage work

Ahead of the closure of theatres in March 2020, during one of the last performances made by the Company, we filmed a performance of Deluxe in its entirety from the front row of the audience, giving viewers an intimate and immersive experience.

In response to the involuntary cancellation of live touring, we shared this film with international venues and platforms that BalletBoyz has strong connections with. Venues were able to share this on their platforms to give their audiences a sense of a shared experience, much like going to the theatre to watch a live performance. The film was provided free of charge but on the understanding that venues may invite the Company to perform live when international touring becomes a possibility again.

Venues and platforms that showed Deluxe include:

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BalletBoyz Ltd

(Limited by Guarantee)

Trustees' Report

This has allowed us to maintain digital touring both in the UK and internationally whilst theatres have been closed, securing an audience of over 65,000 across 9 countries.

In spring 2021, the cancelled tour was rebooked for spring 2022. The tour will visit at least 21 theatres with 35 performances.

Digital work

As detailed above, the Company was able to release Deluxe as an online digital production, including as part of the BalletBoyz VOD selection. It received great international public feedback. Other BalletBoyz VOD titles, including Young Men and a selection of past stage productions, have continued to sell through the Company's Vimeo platform. We also released a special edition of Deluxe entirely in black and white.

Throughout summer 2020, we worked on the postproduction of Yes, the short film we produced and shot in January 2020. When working with students at Strathmore School (a school for children with special educational needs) on the Dance Together programme, BalletBoyz dancer Matthew Sandiford struck up a fascinating dance relationship with Andre, one of the students. While working together Matthew realised that Andre had a particular gift for replication and was able to follow and copy Matthew's movement quickly and accurately. Matthew suggested that it would be interesting to use this relationship in a film context. Paired with choreography by Joel O'Donoghue, Andre and Matthew perform a duet with a heightened intensity and an arresting purity, showing a unique collaboration between professional and amateur. We commissioned Cassie Kinoshi to write an original score, and the film premiered as part of an online festival called Imagine If…, celebrating the life of the late Sir Ken Robinson and his achievements in education and the arts. The film was shown to an audience of over 18,000 and has since also been released on the Company's own platforms including YouTube, Instagram, and Facebook.

In summer 2020, when lockdown restrictions lifted a little, we invited each of the dancers who had been part of the Deluxe tour that got cancelled to perform a short solo by themselves against a green back drop. They were then placed together digitally in the studio for one last dance together for a short film called Gatherings Will Be Dispersed. As well as our six dancers and one Rehearsal Director, the film features plants, trees, and bushes which slowly appear as the dance takes place - nature taking over as time passes by and the studio remains empty. The result is a surreal, poignant, and bittersweet film which we hoped would resonate with artists of all disciplines. We commissioned Dani and Keaton Henson to write an original score for the piece, and Lucas Boutrot to animate the film. It was released as part of Imagine If… alongside Yes, and subsequently on our own online platforms.

After a brief development period with theatre and opera director Richard Jones throughout winter 2020/21, we started pre-production of our latest feature film endeavour, Rumpelstilzchen, in March 2021. The film was rehearsed and shot in our studios in Kingston Upon Thames in May and June, would be edited and post-produced throughout the summer and the autumn, and be ready for cinema and broadcast release in late 2021. At the time of writing these plans are on schedule.

Moovbank

Our online education dance platform has continued to grow rapidly and has seen a significant increase in users and subscribers during the lockdown period when teachers, dancers, and students resorted to more online material while working and learning from home. The resource has proved to be an asset for many. Throughout spring and summer 2020, we worked with our former Rehearsal Director, Youth Company Director, and a few former dancers to create online ballet and contemporary classes for a variety of ages, delivered through MoovBank. 2,500 individuals and schools are now subscribed to the platform.

In March 2021, development for a new educational package for A-Level, BTEC, and University level students began, to be delivered on MoovBank alongside the release of Rumpelstilzchen.

4

BalletBoyz Ltd

(Limited by Guarantee)

Trustees' Report

Creative Learning

Our outreach programme Dance Together, a partnership with a local school for children and young adults with special educational needs, was placed on hold for the duration of the pandemic but with a view to restart it when it becomes safe to do so.

During the multiple lockdowns and subsequent social distancing restrictions, we were able to find a way to deliver our celebrated Parkinson's CAN Dance programme online. Classes were filmed and shared on our MoovBank platform, and when the term restarted the classes were delivered via Zoom from a combination of our Kingston studio and the practitioners' homes. Despite technical challenges, we were able to retain both the live music element and the valued social element of the sessions. Unfortunately, because of the local reach of the programme, we have been unable to secure financial support, so BalletBoyz is currently funding it in its entirety. We hope to revisit this now more Parkinson's CAN Dance content is available online and as a DVD.

In 2019, we received a grant from 14-18Now to share and explore our stage and film production, Young Men through a cinematic viewing and workshops with secondary school students in areas of low cultural engagement. Delving further into the narrative strength, physical impact, and thematic subtleties of the work with schools across the country, our aim was to develop long lasting relationships with young people nationwide and encourage the use of dance as a tool for exploring the important themes of love, friendship, conflict, resolution, brotherhood, loss, and survival that are present within the piece and within their own lives. Following the developments throughout 2020/21, we have reflected on the project and devised an alternative plan which we hope will inspire higher levels of direct engagement with a more targeted approach. We will identify an area of low cultural engagement in the UK and produce a screening of Young Men accompanied by a live orchestra performance, which local secondary schools will be invited to attend. We are working with Dance Education Specialist Fiona Smith to develop online and workshop content to be used as a resource for schools alongside the screening. The activity will be followed by an evaluation process, which will enable us to develop our creative learning offering for future projects.

The range of classes we used to offer in our studios in Kingston, including our Youth Company and inclusive dance sessions, have been placed on hold since March 2020 and for the foreseeable future until we can reasonably and safely have a high level of footfall in the building again.

Diversity

The events of summer 2020 provided the company with a focused moment to reflect and consider where we stand in terms of our procedures and decisions.

We were able to recognise more than ever before that there is an imbalance and that we must play an active part in redressing it. The challenge is to achieve this without discrimination and without tokenism, without defining anyone by their characteristics.

We developed a reinvigorated drive to ensure that we continue to invite a broad group of dancers, choreographers, composers, designers, producers, administrators, artists, teachers, and students to work with us. As a company that's actively creating, producing and performing to a wide audience, we need to find the path that enables us to achieve equity, diversity and inclusion for all our colleagues, one where we can have open and frank discussions about difficult topics, where all who work with us feel supported and heard, and one where the opportunities that we can offer are open equally to all. We strive to get the balance right in our pursuit of a varied and representative dance company.

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BalletBoyz Ltd

(Limited by Guarantee)

Trustees' Report

Consequently, throughout 2020/21 we have continued to actively work towards the goals set out in our Arts Council Creative Case for Diversity, for which we continue to rate Strong. In order to help us achieve our targets of working with a wider range of people from a more diverse range of backgrounds, we identified in the latter half of 2020 three specific groups where we want to make an active change: gender diversity in creatives and technical crew; ethnic diversity and global majority representation in creatives, senior leadership positions, and on stage and screen; and disability representation across all areas. These are the areas where we are taking pro-active steps to ensure the people we engage with accurately represent all sectors of society.

Diversity is part of the agenda for all meetings held in-house, as well as in external creative discussions. We have found that we are getting increasingly comfortable as a company discussing issues of diversity explicitly, and we continue to express our desire for increased accessibility and the opportunities we are offering to under-represented groups directly in meetings and in more general conversations. There are nearly always direct actions to be taken after each meeting in relation to diversity.

In addition to the more frequent discussions that are held in-house, we have found that networking is an incredibly useful way to widen our networks and gain introductions to new artists. We have taken the following actions in relation to our Creative Case for Diversity:

Spoken to

Part of

Further actions taken

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BalletBoyz Ltd

(Limited by Guarantee)

Trustees' Report

Website Analysis

Website Analysis
2016/17 2017/18 2018/19 2019/20 2020/21
Number of Visits 92,964 91,308 90,249 85,179 15,884
Number of Page Views 274,681 261,279 258,457 205,692 49,735
Average number of 2.95 2.89 2.86 2.55 2.50
pages viewed per visit
Average time spent on 2:22 2:04 1:44 1:34 1:36
site per visit
New visitor rate 70.2% 85.1% 84% 84% 87%

It should be noted that the extreme reduction in visits and page views is expected and unsurprising. Although the company did maintain a level of activity, a lot of this took place on other platforms including the BalletBoyz Facebook, Instagram, Twitter, YouTube, and Vimeo, as well as the Sadler's Wells website and BBC iPlayer. BalletBoyz classes were cancelled or placed on hold so people no longer use the website for booking their terms online, and of course without a tour there were no audiences to book tickets through the site.

Digital Reach Data

Average monthly reach on Twitter for the year 2020/21 was 18K impressions, and our total reach throughout the year was 220K impressions. On Facebook the company had a monthly average reach of 6,600 and a yearly total reach of 80K interactions.

Through IGTV, YouTube, Facebook Watch and Vimeo, our video content was watched by 118K people between 1 April 2019 and 31 March 2020, and through the digital platforms of others including BBC iPlayer, Sadler's Wells Facebook, and the Joyce Theater Website, an additional 213K people watched our video content.

Financial review

There was a net increase of £194,056 in the year on a turnover of £663,472.

Unrestricted reserves stand at £594,358, which is an increase of £231,173 on the previous year. Arts Council NPO grant of £305,520 was received.

Unrestricted funding of £25,000 was received from The Robert Gavron Charitable Trust. Culture Recovery Fund grant of £174,690 (against a total grant of £194,100) was received. Funding of £91,996 was received from the Coronavirus Job Retention Scheme. Unrestricted funding of £25,507 was received from Kingston Council.

Further information of restricted funds can be found in note 15.

A total of £8,320 in individual donations was received in the year. (2019/20: £17,894).

Further information on designated funds can be found in note 14.

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BalletBoyz Ltd

(Limited by Guarantee)

Trustees' Report

The Reserves Policy states that an amount equivalent to three (3) months of running costs is retained in the event that the Company is wound up. This is currently c £72,500. Any remaining funds can be spent on artistic activity as approved by the Trustees.

Risk

BalletBoyz is a company which consistently and successfully takes artistic risks. However, risks to the stability and longevity of the company need to be recognised and mitigated.

Coronavirus is the biggest risk to the arts industry in living memory and so it has been essential to take steps and re-evaluate plans to ensure the Company's stability going forward. During 2020/21 we have had extremely limited income due to an inability to tour productions. To mitigate this risk, we have taken full advantage of the government's Job Retention Scheme and applied for all support available. We applied for two rounds of the Culture Recovery Fund. For the first round, we received 27% of our requested amount, and for the second round we received 100% of our requested amount. This has allowed the company to stay solvent, meant our building could remain operational, and facilitated the company to begin work on future projects. Our strong background in film work enables us to adapt quickly to the new restrictions on the arts industry. With the ever-changing environment we can minimise risk by focusing on digital work rather than live performance when opportunities are reduced. This minimises the risk of sudden cancellation and the struggle of staging work that is financially viable with a socially distanced audience. We have booked an extensive tour in Spring 2022 when we hope the market will be less unpredictable.

Another of the chief risks is environmental factors. There is a crowded marketplace, with many artists competing for funds from trusts and foundations. The Company has strong relationships with funders which it will maintain, whilst also continuing to broaden its connections. The cost of touring increases yearly, and the controls on commissioning and performance fees are tighter than ever. Tour plans are made as far in advance as possible and value for money is stringently sought in order to continue activity. Distributing digital content also allows us to maintain and increase audience reach. The Company carefully monitors its cashflow and holds quarterly meetings with a Finance Sub-Committee to ensure rigorous scrutiny. In the event of NPO funding being reduced, activity would be scaled back to meet the available resources.

While Brexit has now happened, its consequences are still unclear, making it challenging to plan meaningfully. Key concerns for BalletBoyz are the appeal of UK companies to European dancers, the ability to employ European dancers, and the potential rise in European touring costs and administrative complexity as a result of the UK's departure from the EU. We are monitoring any progress closely and will adapt our plans as necessary.

In recent years, the company's base in Kingston has been a huge asset. We are 9 years into a 15 year lease, and should we be unsuccessful in purchasing the building, the previous model of hiring studio and office space could be adopted again whilst another permanent solution is sought.

Plans for the Future

BalletBoyz continues to develop a range of projects across its varied strands of stage work, digital and education.

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BalletBoyz Ltd

(Limited by Guarantee)

Trustees' Report

Digital

Following the pre-production period in spring 2021, the summer was spent rehearsing and shooting our latest feature film Rumpelstilzchen, which we are making with theatre and opera director Richard Jones. This will be followed by a post-production period in the autumn, which will include the edit of the film, a local partnership with the Birmingham Contemporary Music Group to record the score for the film, and final sound design, grading, and titling. The film is currently on schedule to be completed by the middle of November for a theatrical release in independent cinemas before being a part of the SkyArts Christmas season. International theatrical and broadcast distribution possibilities will be subsequently be pursued.

In autumn 2021, we will also enter a pre-production period for our new digital creation, consisting of four short films created with a range of artists and performers. This creation will eventually be adapted into a stage show for live performances in 2022/23.

Stage Work

Throughout 2020/21, the Company continued to develop relationships with UK and international venues. The Company worked with several venues around the world during the pandemic to bring productions to audiences no longer able to visit theatres, and these relationships will be developed over the coming years to facilitate UK and international touring for the stage production created from the film and for pre-existing works. An extensive tour has been booked in Spring 2022.

Participation

We intend to continue delivering our Parkinson's CAN Dance programme, which is continuously under review to ensure sessions are safe for participants and in line with the most recent restrictions, while still retaining the social and health benefits that are so valued. We'll also continue to develop ways to share these benefits with a wider audience beyond our local Kingston base, mainly through the sale of our class DVDs and through MoovBank. Our Youth Company and Inclusive dance sessions are currently on hold but will be reinstated when it becomes safe to do so.

Although our Dance Together programme has been on hiatus, we now want to work with teachers and specialists to find a way to deliver the programme in 2021/22 at our local partner Strathmore School. As part of this we also want to develop a version which can be delivered online so oher Special Educational Needs schools across the country can take part.

Our digital education package for Rumpelstilzchen, to be delivered through MoovBank, will continue to be created and developed for release in late 2021/early 2022. Likewise our plans for Unknown Soldier continue to be in development.

Structure, governance and management

Governing document

BalletBoyz Ltd is a charitable company limited by guarantee, incorporated on 7 November 2000 and governed by its Memorandum and Articles of Association. In the event of the company being wound up the members are required to contribute an amount not exceeding £1.

Appointment of trustees

The Board of Trustees may from time to time and at any time appoint any member of the company as a member of the Board of Trustees either to fill a temporary vacancy or by way of addition to the Board of Trustees, provided that the prescribed maximum (12 members) be not thereby exceeded. Any member so appointed shall retain his or her office only until the next Annual General Meeting, but he or she shall then be eligible for re-election.

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BalletBoyz Ltd

(Limited by Guarantee)

Trustees' Report

Organisational operation

The board of trustees administers the charity. The board normally meets each quarter. An executive team is appointed by the trustees to manage the day to day operations of the charity. To facilitate effective operation the Executive Team has delegated authority, within the terms of delegation approved by the trustees, for operational matters including employment and artistic performance related activity. A Finance Manager was appointed in 2017 to oversee accounting and financial matters as part of the Executive Team. A Finance Sub-Committee of trustees meets once a quarter to analyse financial figures in detail, and reports to the board at meetings of the trustees.

BalletBoyz trustees take ultimate legal and financial responsibility for the company while the day to day running of the charity is delegated to the Executive Team.

Relationships between charity and related parties

None of the trustees receive remuneration or other benefit from their work with the charity. Any contractual relationship with a related party must be disclosed to the full board of trustees. Details of related party transactions in the year are set out in the notes to the accounts.

Pay policy for senior staff

When setting staff’s pay, other comparable roles within the industry are benchmarked to ensure parity. Salaries are reviewed annually.

Statement of trustees' responsibilities

The trustees (who are also directors of BalletBoyz Ltd for the purposes of company law) are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for the year. In preparing these financial statements, the Trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware at the time of approving our trustees' annual report:

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BalletBoyz Ltd

(Limited by Guarantee)

Trustees' Report

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Small company exemptions

This report is prepared in accordance with the provisions of the Companies Act 2006 relating to small companies.

This report was approved by the Board of Trustees on 17 November 2021 and signed on its behalf by

Michael Waldman

Michael Waldman (Nov 17, 2021 16:49 GMT)

Michael Timothy Waldman Trustee

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Independent Auditors' Report to the Members of BalletBoyz Ltd

Opinion

We have audited the financial statements of BalletBoyz Ltd (the 'charitable company') for the year ended 31 March 2021 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those 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 charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including 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.

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

Other information

The trustees are responsible for the other information. The other information comprises the information included in the trustees' annual report, other than the financial statements and our auditor's report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

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Independent Auditors' Report to the Members of BalletBoyz Ltd

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees' responsibilities statement set out on pages 10 and 11, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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Independent Auditors' Report to the Members of BalletBoyz Ltd

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Mr Richard Nelson FCCA (Senior Statutory Auditor) For and on behalf of Breckman & Company Statutory Auditors Chartered Certified Accountants

49 South Molton Street London W1K 5LH

17 November 2021

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BalletBoyz Ltd

(Limited by Guarantee)

Statement of Financial Activities (including Income and Expenditure Account) for the year ended 31 March 2021

Unrestricted
Restricted
funds
funds
Notes
£
£
Income and endowments from:
2
Donations and legacies - page 16
645,693
-
Charitable activities:
Theatre - pages 16 - 17
13,971
3,653
Investments - page 17
155
-
Other - page 17
3
-
-
Total
659,819
3,653
Expenditure on:
Raising funds:
Fundraising - page 18
600
-
Charitable activities:
Theatre - page 18
460,485
8,331
Total
461,085
8,331
Net income / (expenditure)
4
198,734
)
(4,678
Transfers between funds
14, 15
32,439
)
(32,439
Net movement in funds:
231,173
)
(37,117
Reconciliation of funds:
Total funds brought forward
363,185
340,813
Total funds carried forward
14, 15
594,358
303,696		 2021
Unrestricted
Restricted
Total
funds
funds
£
£
£
645,693
361,971
-
17,624
466,232
99,726
155
1,654
-
-
48,210
-
663,472
878,067
99,726
600
6,444
-
468,816
1,152,666
76,487
469,416
1,159,110
76,487
194,056
)
(281,043
23,239
-
27,732
)
(27,732
194,056
)
(253,311
)
(4,493
703,998
616,496
345,306
898,054
363,185
340,813		 2020
Total
£
361,971
565,958
1,654
48,210
977,793
6,444
1,229,153
1,235,597
)
(257,804
-
)
(257,804
961,802
703,998

The notes on pages 22 to 31 form an integral part of these financial statements.

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derives from continuing activities.

15

BalletBoyz Ltd

(Limited by Guarantee)

Year ended 31 March 2021

Income from donations and legacies
Grants
COVID-19 Emergency funding
ACE Culture Recovery Fund
HMRC Coronavirus Job Retention Scheme
Royal Borough of Kingston
ACE - NPO funding
Robert Gavron Charitable Trust
The Woolbeding Charity
Donations
Other
Income from charitable activities
Theatre income
Performance fees
Educational income
Merchandise sales
Commission fees
Film production commissions
Technical equipment hire
Dancer's course fees / Studio fees
Studio hire
International fees
Other income		 2021
£
174,690
91,996
25,507		 £
292,193
305,520
25,000
15,000
637,713
7,980
645,693
)
(10,532
233
3,745
-
2,140
7,541
6,357
-
457
4,030
13,971		 2020
£
-
-
-		 £
-
300,000
50,000
-
350,000
11,971
361,971
264,519
34,774
15,904
47,917
9,800
-
43,908
2,115
35,100
12,195
466,232

16

BalletBoyz Ltd

(Limited by Guarantee)

Year ended 31 March 2021

Income from charitable activities (continued)
Project specific funding
Grants
Paul Hamlyn Foundation
Private donations
Malden Golf Club
Jane Trevitt
Imperial War Museum
PRS for Music Foundation
Investment income
Bank Interest
Other
Theatre tax relief (TTR)		 2021
£
-
340
3,313
-
-
-
3,653
155
-		 2020
£
60,000
5,923
3,010
10,000
24,500
3,707
99,726
1,654
48,210

17

BalletBoyz Ltd

(Limited by Guarantee)

Year ended 31 March 2021

Expenditure on raising funds
Fundraising costs
Expenditure on charitable activities
Theatre
Production costs
Directors'/dancers' wages/social security costs
Musician/creative team fees
Educational wages/fees
Production costs
Travel
Accommodation/subsistence
Marketing/promotions
Transport
Merchandise
Rent
Rates/heating/cleaning
Repairs/renewals
Insurance
Storage
Sundries
Amortisation of short leasehold
Depreciation of fixtures/fittings/equipment
Support costs - page 19
Governance costs - page 19		 2021
£
600
161,096
11,711
32,182
2,860
364
192
95
19
131
29,625
18,749
8,025
17,677
4,912
-
24,329
6,273
317,474
143,729
7,613
468,816		 2020
£
6,444
388,816
28,941
120,873
193,403
23,253
42,793
118,649
37,261
8,877
29,250
17,803
-
16,184
3,954
3,542
24,329
2,516
1,060,444
161,854
6,855
1,229,153

18

BalletBoyz Ltd

(Limited by Guarantee)

Year ended 31 March 2021

Support and governance costs
Support costs
Office overheads
Rent
Rates/heating/cleaning
Telephone/fax
Repairs/maintenance/IT support
Amortisation of short leasehold
Depreciation of fixtures, fittings and equipment
Administration costs
Salaries
Financial reporting
Social security costs
Staff pension costs
Staff welfare
Staff recruitment
Printing/postage/stationary
Subscriptions/licences
Sundries
Royalties paid
Professional/financial
Bank charges
Deficit on foreign exchange
Governance costs
Legal/professional
Accountancy/consultancy
Audit		 2021
£
9,875
6,249
559
11,036
8,110
2,091
75,999
11,750
7,000
2,280
371
-
2,625
5,176
168
-
426
14
13
3,850
3,750		 £
37,920
105,369
440
143,729
7,613
151,342		 2020
£
9,750
5,935
397
8,394
8,110
839
77,621
12,375
6,700
2,027
-
1,488
4,138
19,131
887
3,250
812
-
)
(1,463
4,568
3,750		 £
33,425
127,617
812
161,854
6,855
168,709

19

BalletBoyz Ltd

(Limited by Guarantee)

Balance Sheet 31 March 2021

Notes
Fixed assets
Tangible assets
9
Current assets
Debtors
10
Investments
11
Cash at bank and in hand
Liabilities
Creditors: amounts falling
due within one year
12
Net current assets
Total assets less current
over total assets
The funds of the charity:
Unrestricted funds
- General fund
14
- Designated funds
Restricted funds
15
Total charity funds		 2021
£
49,306
63,092
594,047
706,445
)
(67,728		 £
259,337
638,717
898,054
231,173
363,185
594,358
303,696
898,054		 2020
£
134,582
99,530
323,541
557,653
)
(86,583		 £
232,928
471,070
703,998
-
363,185
363,185
340,813
703,998

The trustees have prepared these accounts in accordance with section 398 of the Companies Act 2006 and section 138 of the Charities Act 2011. These accounts are prepared in accordance with the special provisions of Part 15 of the Companies Act relating to small companies and constitute the annual accounts required by the Companies Act 2006 and are for circulation to members of the company.

The accounts were approved by the Board of Trustees on 17 November 2021 and signed on its behalf by

Michael Waldman Anne Heal
Michael Waldman (Nov 17, 2021 16:49 GMT) Anne Heal (Nov 17, 2021 17:00 GMT)
Michael Timothy Waldman Anne Fowler
Trustee Trustee

The notes on pages 22 to 31 form an integral part of these financial statements.

20

BalletBoyz Ltd

(Limited by Guarantee)

Cash Flow Statement for the year ended 31 March 2021

Notes
Cash flows from operating activities
19
Cash flows from investing activities:
Dividends, interest and rents from investments
Purchase of property, plant and equipment
Part return of original investment
Net cash provided by investment activities
Change in cash and cash equivalents in the reporting period
Cash and cash equivalents at the beginning of the reporting
period
Cash and cash equivalents at the end of the reporting
period		 2021
£
301,125
155
)
(67,212
36,438
)
(30,619
270,506
323,541
594,047		 2020
£
)
(92,141
1,654
)
(3,830
470
)
(1,706
)
(93,847
417,388
323,541

21

BalletBoyz Ltd

(Limited by Guarantee)

1. Accounting policies

1.1. Basis of preparing the financial statements

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)) and the Companies Act 2006.

The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

1.2. Incoming resources

All incoming resources are included in the Statement of Financial Activities when:

- Donations and legacies

Grants/donations are recognised in incoming resources in the year in which they are receivable, except as follows:

- Charitable activities

Theatre income - income from box office, performance fees and sundry other theatrical income is included in incoming resources in the period in which the relevant show takes place.

Project specific funding - when donors specify that donations and grants are for particular restricted purposes, which do not amount to pre-conditions regarding entitlement, this income is included in incoming resources of restricted funds when receivable.

22

BalletBoyz Ltd

(Limited by Guarantee)

- Donated services and facilities

Donated services or facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. On receipt, donated services and facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

- Investment income

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

1.3. Expenditure

All expenditure is included on an accruals basis inclusive of any VAT which cannot be recovered and is recognised when:

- Costs of raising funds

Costs incurred in attracting donations, and those incurred in trading activities that raise funds.

- Charitable activities

Theatre production costs - costs incurred in production and running of productions toured in the year.

- Support costs

The administrative and overhead costs associated with running the office from which the company operates as well as governance costs. Support costs are wholly attributable to theatre production costs.

- Governance costs

Costs associated with the constitutional and statutory requirements of the charity.

1.4. Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised as expenditure when due.

1.5. Tangible fixed assets and depreciation

Individual fixed assets costing £1,000 or more are capitalised at cost.

Depreciation is provided at annual rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:

1.6. Leasing

Rentals payable under operating leases are charged to the income and expenditure account on a straight line basis over the lease term.

23

BalletBoyz Ltd

(Limited by Guarantee)

1.7. Investments

Current asset investments are at the lower of cost and net realisable value.

1.8. Fund accounting

Funds held by the charity are either:

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

1.9. Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid after taking account of and trade discounts due.

1.10. Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.11. Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

1.12. Financial Instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value, and subsequently measured at their settlement value.

1.13. Significant Accounting Estimates and Judgements

In determining the carrying amounts of certain assets and liabilities, the charity makes assumptions of the effects of uncertain future events on those assets and liabilities at the balance sheet date. The charity's estimates and assumptions are based on historical experience and expectation of future events and are reviewed annually.

2. Incoming resources

The total incoming resources for the year has been derived from the principal activity. The proportion of incoming resources derived from outside the UK amounted to 1% (2020 - 4%).

24

BalletBoyz Ltd

(Limited by Guarantee)

3. Other income

2021
£
Theatre Tax Relief (TTR)
-
4.
Net income/(expenditure) for the year is
2021
stated after charging:
£
Depreciation of tangible fixed assets
40,803
Deficit on foreign exchange
14
Auditors' remuneration
- external audit
3,750
- other services
3,850		 2020
£
48,210
2020
£
35,794
-
3,750
4,568

5. Trustees' emoluments and reimbursed expenses

The trustees received no remuneration during the year (2020 - £nil).

The aggregated amount reimbursed to trustees during the year was £nil (2020 - £nil).

25

BalletBoyz Ltd

(Limited by Guarantee)

6.
Staff costs and numbers
Staff costs
Salaries and wages
Social security costs
Pension costs		 2021
£
232,656
25,237
6,980
264,873		 2020
£
245,312
24,500
6,754
276,566

2 employees earned between £60,000 and £70,000 during the year (2020 - 2).

The key management personnel of the charity comprise the trustees and the senior management team. The total employee benefits of the key management personnel of the charity were £144,200 (2020: £137,200)

Staff numbers

The average numbers of full-time equivalent employees (including casual and part time staff) during the year was made up as follows:

the year was made up as follows:

Administrative
Production
Education		 2021
Number

3
2
1
6		 2020
Number
4
2
1
7

7. Pension costs

The company operates a defined contribution pension scheme in respect of its employees. The scheme and its assets are held by independent managers. The pension charge represents contributions due from the company and amounted to £6,980 (2020 - £6,754).

8. Corporation Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

26

BalletBoyz Ltd

(Limited by Guarantee)

9.
Fixed assets - tangible assets
Short
Fixtures/
leasehold
fittings/
property
equipment
£
£
Cost
1 April 2020
486,587
216,155
Additions
-
67,212
31 March 2021
486,587
283,367
Depreciation
1 April 2020
259,511
210,303
Charge for year
32,439
8,364
31 March 2021
291,950
218,667
Net book values
31 March 2021
194,637
64,700
31 March 2020
227,076
5,852
10.
Debtors
2021
£
Trade debtors
729
Other debtors
39,077
Prepayments and accrued income
9,500
49,306
11.
Current asset investments
2021
£
Other unlisted investments (note 18)
63,092
12.
Creditors: amounts falling due
2021
within one year
£
Trade creditors
5,533
Other taxation and social security
6,536
Other creditors
6,921
Accruals
48,738
67,728		 Total
£
702,742
67,212
769,954
469,814
40,803
510,617
259,337
232,928
2020
£
37,326
97,256
-
134,582
2020
£
99,530
2020
£
65,956
6,960
7,167
6,500
86,583

27

BalletBoyz Ltd

(Limited by Guarantee)

13. Limited by guarantee

The company is limited by guarantee and does not have a share capital. Each member gives a guarantee to contribute a sum, not exceeding £1, to the company should it be wound up. At 31 March 2021 there were 7 members.

14. Unrestricted funds Brought Incoming Outgoing Transfers Carried
forward resources resources forward
£ £ £ £ £
General fund - 659,819 )
(461,085		 32,439 231,173
Designated funds:
Monument Trust 363,185 - - - 363,185
Legacy grant
363,185 659,819 )
(461,085		 32,439 594,358

Monument Trust Legacy grant

As part of its winding-up process, the Monument Trust awarded BalletBoyz a legacy grant of £750,000 in December 2017, to replace future grants to the charity and to ensure the directors could pursue their adventurous thinking and bold commissioning. The funds were transferred to BalletBoyz in the financial year 2017/18, with the intention to start using the funds from 2018/19 onwards. Following auditor's advice, the full amount of the grant is recognised in the 2017/18 accounts with the available balance shown as a designated fund, to be drawn from over the next 4-5 years.

28

BalletBoyz Ltd

(Limited by Guarantee)

15. Restricted funds Brought Incoming Outgoing Transfers Carried
forward resources resources forward
£ £ £ £ £
Fixed assets - Premises 227,076 - - )
(32,439		 194,637
& Fixtures
MoovBank
(previously		 18,282 - - - 18,282
Digital Dance Platform)
Parkinson's CAN Dance 17,194 3,653 )
(8,330		 - 12,517
Programme
Dance Together 50,411 - - - 50,411
Inclusive Classes 3,361 - )
(1		 - 3,360
Young Men 24,489 - - - 24,489
340,813 3,653 )
(8,331		 )
(32,439		 303,696

Fixed assets - Premises & Fixtures

This fund consists of grants received specifically for the purchase of fixed assets. The funds are transferred to the general fund over the expected useful life of the assets.

The balance at 31 March 2021 is attributable to:

Leasehold property

£ 194,637

MoovBank (previously Digital Dance Platform)

MoovBank is the home of brand new, high quality digital teaching materials for dance, drama and PE teachers. Filmed in the studio with BalletBoyz dancers, lessons offer clear, detailed breakdowns of each movement task plus demos, teaching clips and inspiration clips. Each lesson is accompanied by a detailed lesson plan with learning outcomes, cross curricula links and suggestions for differentiation. Selected schemes of work for Key Stage 2 (ages 7-11) and Key Stage 3 (ages 11-14), choreographic guidance and advice for BTEC, GCSE and A Level students and interviews with choreographers and tutorials and master classes with the Company are offered free of charge. Funding covers the cost of the creation and setup of the platform and materials, project management and creative team fees.

Parkinson's CAN Dance Programme

The Parkinson's CAN Dance programme is for the delivery of dance and movement classes for people with Parkinson's. Three 10-week terms are spread over the year and include movement classes, social sessions and cultural visits. The funding covers the cost of providing subsidised classes and activities for participants.

29

BalletBoyz Ltd

(Limited by Guarantee)

Dance Together

Dance Together is the BalletBoyz partnership project with Strathmore School - our local school for learners with complex learning needs. Our work with Strathmore began in 2016, and since then the partnership has gone from strength to strength. The project consists of a summer intensive each year, during which our entire company of dancers visits the school, as well as welcoming Strathmore students to our own studio, to dance and experience the joy of movement together. The company also makes additional regular visits at key points throughout the year to maintain the relationships with the students. The funding covers the cost of providing this project to the school free of charge, which includes the month-long intensive, multiple visits each term, theatre trips for the students and visits to BalletBoyz studios. In addition, the funding covers professional development for our dancer to better communicate with students who may be non-verbal.

Inclusive Classes

BalletBoyz runs a weekly class on Thursdays for adults with special needs. These funds, received from Jane Trevitt, cover the teaching fee associated with these sessions.

Young Men

Funding from 14-18 NOW contributed to the cost of creating and staging a new version of the company's work by Iván Pérez, Young Men. Performed at Wilton's Music Hall in November 2018, the new version combined the stage and film formats of the piece like never before, and featured live music from a pianist and cellist. The work went on to be shown at The Joyce Theater in New York in January 2019.

16. Analysis of net assets between funds

General
Designated
Restricted
funds
funds
funds
£
£
£
Fund balances at 31 March 2021
are represented by:
Tangible fixed assets
64,700
-
194,637
Net current assets
166,473
363,185
109,059
231,173
363,185
303,696		 Total
£
259,337
638,717
898,054

17. Financial commitments

At 31 March 2021 the company had future minimum lease payments under non-cancellable operating leases, with payments falling due as follows:

Due:
Within one year
Between one and five years
In over five years		 2021
£
38,000
152,000
47,500
237,500		 2020
£
38,000
152,000
85,500
275,500

30

BalletBoyz Ltd

(Limited by Guarantee)

18. Related party transactions

During the year, expenditure of £2,099 (2020 - £11,146) was paid to Manilla Productions Ltd, a company which is owned and controlled by the Artistic Directors of the Charity, with recharge income of £12,108 (2020 - £1,163) received.

Both Footwork Films Limited and Romeo & Juliet Productions Limited are owned and controlled by the Artistic Directors of the Charity. BalletBoyz have invested £100,000 with Footwork Films Limited with regards to the feature film Romeo & Juliet, aired on the BBC at Christmas 2019. Footwork Films Limited are the Commisioning Producer, with Romeo & Juliet Productions Limited being the Producer. £36,438 was recouped in the year.

19. Reconciliation of net income/(expenditure) to net cashflow from operating activities

Net income/(expenditure) for the
reporting
period
(as
per
the
statement of financial activities)
Depreciation
Dividends, interest and rents from investments
Decrease/(increase) in debtors
(Decrease)/increase in creditors
Net cash inflow from operating activities		 2021
£
194,056
40,803
)
(155
85,276
)
(18,855
301,125		 2020
£
)
(257,804
35,794
)
(1,654
115,491
16,032
)
(92,141

31

BalletBoyz accounts for the year ended 31 March 2021 for signing

Final Audit Report

2021-11-17

Created: 2021-11-17 By: Richard Nelson (richardnelson@breckmanandcompany.co.uk) Status: Signed Transaction ID: CBJCHBCAABAAkeIRmdDl5CKgeUoAgxYIF0KTSD0b1fkt

"BalletBoyz accounts for the year ended 31 March 2021 for signi ng" History

Document created by Richard Nelson (richardnelson@breckmanandcompany.co.uk)

2021-11-17 - 12:49:51 PM GMT- IP address: 51.148.113.129

Document emailed to Michael Waldman (michaelwaldman@btinternet.com) for signature

2021-11-17 - 12:50:55 PM GMT

Email viewed by Michael Waldman (michaelwaldman@btinternet.com)

2021-11-17 - 12:59:05 PM GMT- IP address: 86.178.92.239

Document e-signed by Michael Waldman (michaelwaldman@btinternet.com)

Signature Date: 2021-11-17 - 4:49:51 PM GMT - Time Source: server- IP address: 86.178.92.239

Document emailed to Anne Heal (anneheal01@gmail.com) for signature

2021-11-17 - 4:49:53 PM GMT

Email viewed by Anne Heal (anneheal01@gmail.com)

2021-11-17 - 4:59:01 PM GMT- IP address: 172.225.10.43

Document e-signed by Anne Heal (anneheal01@gmail.com)

Signature Date: 2021-11-17 - 5:00:32 PM GMT - Time Source: server- IP address: 86.140.98.203

Agreement completed.

2021-11-17 - 5:00:32 PM GMT