2022-03-31-accounts

Company number 4109324 Charity number 1088336

BalletBoyz Ltd

(Limited by Guarantee)

Report and Financial Statements

for the year ended 31 March 2022

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 Natasha Duffield Anne Fowler Lady Gavron Thomas Hope Phoebe Reith Ibery Matthew Sandiford appointed 4 February 2022 Secretary Victoria Collins resigned 31 July 2021 Nike van Schie appointed 1 August 2021

Artistic/Executive 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.

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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 2022 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 multidisciplinary artists Michael Nunn OBE and William Trevitt OBE. The Company’s 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 them in the most accessible way possible across a range of disciplines.

Over the last 22 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, Rose D’Ors, and Golden Prague Jury Grand Prix awards for film and television work alongside numerous nominations.

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 nationally and internationally. The core aims of BalletBoyz are made up of three parallel and equally important strands, each with the company’s repertoire and creative output at its core, delivered through consistent collaborations, partnerships and commissions.

Core Aims and Objectives:

To Create – making original and adventurous creations that serve to demystify, provoke and, most importantly, entertain.

To Present – taking an accessible approach to presenting live and digital work which allows art to be shared widely 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 objectives for the year and planning activities, the Trustees have considered the Charity Commission’s guidance on public benefit, including the guidance “public benefit: running a charity (PB2)”. Arts Council England’s 10-year plan and vision “Let’s Create” is nonetheless inherent to planned activity and its four Investment Principles Ambition & Quality, Inclusion & Relevance, Dynamism, and Environmental Responsibility have been incorporated throughout.

Strategies for achieving aims and objectives

Over the past 22 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 Company’s work is consistently diverse, innovative, accessible, and of the highest quality, reflected in the BalletBoyz repertoire of award-winning choreography and digital work in a broad range of styles. Over the coming years, the Trustees have several aims and ambitions that encompass a consolidation of what is currently being achieved alongside a set of ambitious projects that will challenge the company artistically, explore new markets and audiences, and diversify income streams. Although plans for the next financial year and beyond are reliant on a successful ACE NPO application, at the moment these are as follows.

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BalletBoyz Ltd

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Trustees’ Report

The Company will continue to commission new creations that are diverse in terms of content, style, and creative team, and will use its strong background in digital content creation to ensure plans and projects are robust in a risky artistic climate. In 2022/23, a new production will be developed for initial release as a feature film, and subsequently as a live stage production 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. New relationships will be forged with programmers, broadcasters, presenters, distributors, venues, and directors, in order to develop a model to allow work and audiences to be further diversified.

BalletBoyz remains committed to sharing its work as much as possible and uses a wide range of platforms to do so. These include digital resources, face-to-face workshops, and bespoke programmes for specific groups. Current offerings will continue to be refined and developed (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 activity 2021-2022

Stage Work

Following the cancellation of a nationwide tour of Deluxe in March 2020 due to the COVID-19 pandemic, the production was finally remounted in Spring 2022, with rehearsals in February and touring in March, April, and May. A brand new company of 8 dancers performed to audiences of over 14,000 in 20 regional UK venues across 33 performances, to both public and critical acclaim. Of these, 7,000 audience members across six UK venues fell into the financial year 2021/22. After such an abrupt ending two years ago and a long hiatus of uncertainty, the return of Deluxe exemplifies the Company’s unfaltering resilience and tenacity and reinforces the Company’s strong position in the British cultural sector.

Venues Deluxe toured to in the 2021/22 financial year: Brighton Theatre Royal Northern Stage, Newcastle Cambridge Arts Theatre Sadler's Wells Theatre Lawrence Batley Theatre, Huddersfield Chester Storyhouse

The Deluxe tour is the first post-pandemic tour for the Company, as well as the first post-Brexit tour. It was found that several significant factors in the touring landscape have changed as a result. Costs, particularly trucking, have risen due to new regulations relating to Brexit. Following the impact of coronavirus and reduced funding for the arts, venues are unable to match this cost increase with increased performance fees, consequently the public funding received does not cover our costs so for future tours need to be adjusted accordingly. More compelling than the new financial implications of touring were the changes in audience behaviour. With continuing anxieties around social distancing, attendance was reduced in most venues. There were also changes in booking behaviour, with audiences booking much closer to the event than they would have done two years ago.

Although there was no international touring in the financial year 2021/22 because of continuing complications around COVID and Brexit, relationships have been maintained with venues, promoters, and festivals. This will allow BalletBoyz to return to international touring too when this becomes a more viable activity again. Territories include North America, Australia, Germany, Italy, Scandinavia, and China. It is expected that complications around COVID will lessen in the next financial year, although complications around Brexit will not.

Digital Work

In April 2021 pre-production on the Company’s latest feature film Rumpelstilzchen continued, which saw us adapt theatre and opera director Richard Jones’ 2009 stage production. The original production team from 2009 remained involved: composer David Sawer, movement director and choreographer Sarah Fahie, and production designer Stewart Laing. The film’s cast was Tanya Reynolds, Daniel Francis-Swaby, John Marquez, Edward Davis, and Bailey Pepper, with Jane Horrocks playing the eponymous character. The film’s

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BalletBoyz Ltd

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Trustees’ Report

score was recorded at the CBSO Centre in Birmingham in partnership with the Birmingham Contemporary Music Group in September 2021.

The film was rehearsed and shot in May and June, and subsequently edited and post-produced during the summer and the autumn. Besides being a novel creative endeavour focusing more on performance art than dance, the production was a successful implementation of a new model of making work. From the beginning stages of pre-production up to the point of delivery and release, most of the work was completed in-house, maximising the full potential of the Company’s assets. Rehearsals and the shoot period were completed in the studio using the Company’s own equipment, with production management as well as specialist work undertaken by exisiting staff alongside a team of freelancers. This model of creation with a small core production team, a range of freelancers, and capitalising on existing assets is one that the Company will continue to use for future projects.

Rumpelstilzchen was broadcast on Sky Arts on 23 December after a week of screenings in Curzon cinemas nationwide. The theatrical release coincided with the rise of Omicron Coronavirus cases, significantly impacting audience attendance.

In January 2022, the Company created a short drama film. Provisionally titled Sink, the film was once again made in-house and shot in the BalletBoyz studio. It is scheduled to be post-produced and released in 2022/23.

For Deluxe, a new version of the short film The Intro was created, which opened the show in theatres, as well as two short documentaries giving an insight into the creation process behind each of the two pieces, Bradley 4:18 and Ripple. The three films serve to give audiences further access to the art form.

Inspired by the high quality of the performances giving by the new company of dancers, in April 2022 the Company filmed Bradley 4:18 (choreography by Maxine Doyle and composition by Cassie Kinoshi) on-location at the Working Men’s Club in Kingston upon Thames, where the Company is based. The same was done with Ripple in May. The films will be edited and post-produced in the new financial year, for digital release and to be shared on the film festival circuit.

Filmed versions of previous stage productions remain available for purchase internationally on the BalletBoyz Vimeo on Demand platform.

MoovBank

The free, online, educational dance platform continues to grow both in content and number of subscribers, with over 2750 individuals and schools now using the platform. The content created by the Company and hosted on the website is incredibly varied, ranging from structured tutorials and lesson plans designed to fit the UK curriculum, to simple warm-up and movement exercises that can be completed at home, to recorded Parkinson’s CAN Dance lessons delivered by trained specialists.

Alongside the addition of small-scale content, a new education package for A-Level, BTEC, and University level students has been created and designed to tie in with the Company’s new production Rumpelstilzchen. The multi-disciplinary nature of the production lends itself well to being used as a point of study for a wide range of subjects, including dance, drama, and English, and delves into both the material of the production itself as well as the creation and adaptation process. Through interviews with crew members, cast, and creatives, users will gain an insight into cross-over between dance, theatre, and film, how this cross-over is negotiated, and the importance of fables and fairy-tales such as Rumpelstilzchen. The package will be released in time for the new academic school year 2022/23.

The platform remains accessible from anywhere in the world and completely free to use.

Creative Learning

The Company’s celebrated outreach programme Dance Together has remained on hiatus during a year which still faced lockdowns and social distancing restrictions. Connections with specialist teachers and Strathmore, the local school for children and young adults with different educational needs, nonetheless remain in place. It is the Company’s ambition to continue the programme in the coming years.

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Trustees’ Report

Despite the continued threat of coronavirus, the Parkinson’s CAN Dance classes continued without fail throughout 2021/22. In September 2022, one socially distanced class was reintroduced to the Kingston studio for participants who felt confident enough to take the class in person. Weekly testing for practitioners was required and the studio was well ventilated to mitigate the risks of COVID-19 cases. A second class continued to be delivered on Zoom for participants who still felt unable to leave their home, with recordings of the meetings sent to participants unable to access the technical requirements to join the Zoom meetings live. Both the in-person studio session and the Zoom session featured live music. The programme remains entirely funded by BalletBoyz, without other investment, due to its local reach. Because of the significant benefits observed in participants, the Trustees view this as a justifiable expense.

As described above, the grant received from 14-18Now in 2019 for a creative learning programme surrounding Young Men, titled Unknown Soldier, will go towards the creation of a new educational package to be hosted on MoovBank. These plans have been adapted since 2019 together with the organisation. The aims of the project include:

• Providing teachers with a rich resource around which to build a term of lessons.

• Encouraging the transfer of skills between subjects (e.g. History, English, Drama, Dance, PE).

• Keeping the acquisition of in-depth knowledge of World War One relevant to younger generations.

• • Providing an insight for young people about how a knowledge of history can inform new creative endeavours such as filmmaking or dancing.

The activity will be followed by an evaluation process, enabling the Company to develop its creative learning output for future projects.

Diversity

In all activity undertaken, the Company and its Trustees remain highly conscious of the need to improve diversity within the arts. Specifically, the Company has identified three areas in which it is making focused efforts to increase inclusion:

• Gender diversity in both creatives and crew.

• Ethnic minority and socio-economic diversity in creatives, leadership, on stage and on screen.

• • Differently abled people across all areas.

In order to achieve this, the following actions have been taken:

• All members of staff undertake regular training and CPD sessions.

• Anyone new entering the building is asked if they have access requirements. This is done both in the understanding that people coming into the building may need reasonable adjustments to be made before their visit, and in order to normalise the process of making such adjustments.

• Anyone the Company engages is required to complete an anonymous Equality and Diversity Monitoring Form.

In October 2021, an audition was held for the Company’s tour of Deluxe at Sadler’s Wells: a venue more central than the Company’s base in Kingston-upon-Thames and consequently more easily accessible to more candidates. In recognition of the high standard and in order to accommodate a diverse and representative company, the decision was made to create two more positions despite the financial implications of this decision, increasing the Company size to eight instead of six.

Two apprentices from Rambert School of Ballet and Contemporary Dance, and The Place’s London Contemporary Dance School were also taken on for the duration of the tour. The Company covered all travel expenses.

For the first time in the Company’s history, audio-described performances were given as part of the tour.

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BalletBoyz Ltd

(Limited by Guarantee)

Trustees’ Report

Environmental Responsibility

The Trustees are becoming increasingly conscious of the Company’s Environmental Responsibility as a leading arts organisation. The Company is now BAFTA albert certified and staff attend regular training and CPD sessions to further their knowledge about how to minimise the Company’s environmental impact. A Green Memo (or Environmental Policy) has been instated as part of official Company policy, summarised below:

Throughout all activity, it is our aim to be as sustainable and environmentally friendly as possible, at all stages of production. Minimising water usage and CO2 emissions needs to be a company-wide effort with the involvement of all employees, in order to effectively reduce the company’s carbon footprint. This can be achieved through a series of small actions, achievable by all, outlined below.

1. Paper

• a. Paperless invoicing process, payment system, and financial audit

• b. The office will provide recycled printing paper

• c. Documents are only printed when absolutely necessary.

2. Recycling & reusing

• a. Recycling bins (for paper, cardboard, plastic, glass) are provided throughout the building, recycled by our waste collectors

• b. Recycling is encouraged to all members of staff

• c. New material purchased must come from recycled sources whenever possible

• d. All left-over programmes, flyers, and printed marketing materials are recycled after the production has finished

• e. The company will recycle props, costumes, material, equipment, and sets wherever possible across productions

3. Water

• a. All members of staff are provided with a personal reusable water bottle.

• b. A water fountain is provided on site in the BalletBoyz studio

4. Travel & accommodation

• a. Where possible, vehicles used by the company will be green, including electric, ULEZ compliant, mass/group transit, car shares etc.

• b. Company travel to be by train and public transport wherever possible

• c. Air travel to be avoided wherever possible

• d. Record to be kept of all couriers, taxi journeys, train journeys etc.

5. Equipment

• a. Energy efficient lightbulbs used throughout the BalletBoyz studio and office

• b. Unused equipment and plugs to be switched off rather than left on standby

• c. Lights to be switched off throughout the building when not used

• d. Heating to be switched off throughout the building when not required

• e. Energy efficient equipment e.g. stage lighting to be used where possible

• f. Avoid use of materials that could result in toxic waste, e.g. paint (use water based where possible)

• g. Use rechargeable batteries where possible, and recycle all batteries that are not

6. Suppliers

• a. Prioritise suppliers who are able to make carbon neutral deliveries

• b. The company will have fully green energy supplies from July 2022

• c. Ensure suppliers are ethical

• d. Request, where applicable, the environmental policies of any suppliers used

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Trustees’ Report

7. General

• a. Carbon footprint of each production to be calculated

The above policy is shared with all employees and freelancers the Company engages and will encourage many small changes to make a significant impact.

The Company is also placing a lot of importance on recycling as much and as often as possible: everything from general office waste to sets and costumes for new productions. A public statement was made in the Deluxe programme, as the decision was made not to reprint new programmes but instead repurpose those leftover from the cancelled tour in 2020. For the short drama made in January 2022, the Rumpelstilzchen set was repurposed to function as a small bathroom.

Finally, the Company is exploring the possibilities around building development to instal solar panels and a heat-exchange pump, although the Trustees are aware that making such changes would be funding dependent.

Website Analysis

	2015/16	2016/17	2017/18	2018/19	2019/20	2020/21	2021/22
Visits	81,198	92,964	91,308	90,249	85,179	15,884	14,999
Page Views	246,503	274,681	261,279	258,457	205,692	49,735	36,739
Average pages viewed per visit	3.10	2.95	2.89	2.86	2.55	2.50	2.45
Average time spent on site per visit (min:sec)	2:39	2:22	2:04	1:44	1:34	1:36	1:24
New visitor rate	69%	70.2%	85.1%	84%	84%	87%	84%

As reported in the previous financial year, the reduction in visits and page views is reasonably explained. The Company’s website currently serves the purpose to inform visitors of previous, current, and upcoming productions, as well as to sell tickets during touring periods. In previous years, namely between 2015 and 2020, the Company also ran bootcamps, workshops, weekly community classes, and a weekend preprofessional class through its website, all of which are currently not applicable.

Financial Review

There was a net increase of £131,399 in the year on a turnover of £794,871

Unrestricted reserves stand at £463,791 , which is an decrease of £130,567 on the previous year.

NOTE: Significant losses recored this financial year in comparison to 2020/21 where a profit of £194,056 was reported due to additional funding received from ACE Culture Recovery Fund (£174,690), HMRC Coronavirus Job Retention Scheme (£91,996) & Royal Borough of Kingston (£25,507). ACE Culture Recovery Fund spend has gone through financial year 2021/22 due to Government restrictions no activity took place in 2020/21!

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 £116,410 was received.

A total of £22,493 in individual donations was received in the year. (2020/21: £8,320 ).

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BalletBoyz Ltd

(Limited by Guarantee)

Trustees’ Report

The Trustees note that costs incurred towards at the end of Y/E 31.3.2021 (January 21 to March 21) belong to activity, including preparations for performances, which was due to be completed in Y/E 31.3.2022 - these costs therefore had to be deferred in to Y/E 31.3.2022 which results in accounts showing a higher profit in Y/E 31.3.2021 and a smaller profit in Y/E 31.3.2022. This is demonstrated in note 10 and note 12.

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 at approximately £100,000. 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, and a company which knows how to reap the benefits from both the successes and areas of improvement that taking such risks creates. However, risks to the stability and longevity of the company need to be recognised and mitigated.

Currently the highest risks the Company faces are the significant financial changes happening in the wider arts industry, chiefly rising costs paired with reduced public funding. There is a crowded marketplace with many artists competing for funds from trusts and foundations. Consequently, activity plans are carefully considered before confirmed, and value for money is stringently sought throughout. Cashflow is carefully monitored and quarterly meetings are held with a Finance Sub-Committee to ensure rigorous inspection.

The particular consequences of Brexit are still unclear, making it challenging to plan meaningfully. Expected concerns include 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. An unexpected factor which has become apparent in the most recent tour is the steep increase in domestic costs, indicating that the most impactful repercussion for the Company is and will be financial. Progress and development is monitored closely and plans will be adapted as and when necessary.

Although risks related to coronavirus are, at present, significantly reduced within the UK, they remain relevant for international touring. To mitigate these risks, any future international tours will take careful consideration of local policies and law, as well as planning far in advance with contingency plans in place for internal outbreaks. Risk assessments and testing policies would also be implemented. Although COVID-19 no longer appears to be a threat domestically, the pandemic has bestowed the Company with important lessons about planning any activity.

The Company’s Kingston base continued to be one of the most significant assets of the company. 10 years of the 15 year lease have now passed, and conversations have begun to negotiate either a purchase of the building or an extension of the lease. In the event neither option is achieved or possible, or in the event that the Company is unable to meet rent increases, the Company’s previous model of hiring studio and office space will be adopted again whilst a permanent solution is sought.

Future Plans

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

New Creation

Reversing the model that has seen so much success in previous years whereby a new work for the stage is created and subsequently adapted for the screen, the Company now endeavours to create a feature film in the first instance for adaptation for the stage afterwards. Recognising the Company’s own creative development as well as changing external factors, the reversal of the Company’s standard model will more closely marry the twin strands of stage and screen, and enable a greater depth for the stage productions. Creating digitally first will also serve as an exercise in marketing for the live performances, resulting in increased audience attendance and ticket sales.

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Trustees’ Report

The Company’s new creation for 2023/24 is provisionally titled Four Walls, and will tell stories of those who struggle to express themselves artistically. To find such stories, the Company will conduct a research and development period, talking to people who are somehow voiceless, particularly within the D/deaf & differently abled community. Through interviews and workshopping, themes and styles will be developed involving dancers and musicians to refine the source material. This will then inform become the physical language of Four Walls. New work will be story-driven to create accessible, innovative dance films with a scope to be converted for stage, blending theatre, film, dance and the spoken word.

Although it remains the Company’s ambition to create excellent art both on screen and on stage, the Trustees are acutely aware of a rapidly changing landscape, making the viability of live touring increasingly unsustainable. Future tours will operate through an adapted model to make the Company more financially and environmentally sustainable, meaning shorter tours with fewer performances, but with a more targeted approach to which venues are chosen and the number of performances given at each venue. To replace the audiences lost by having shorter tours, creations will be be shared digitally through cinema releases, TV broadcasts, and online streaming.

Participation

The structure and framework for the Rumpelstilzchen educational package was found to be very effective, clear and succinct. Upon completion of the package, it was decided the same structure would be used for an updated addition to the existing material on MoovBank revolving around the Company’s production Young Men. The package will include movement tutorials, behind-the-scenes content, structured lesson plans, contextual information, and participation tasks for students to create their own material and submit it to the Company. At the time of writing this is package is in production, planned for release in September/October 2022, in time for schools to be able to use the package for activities surrounding Armistice Day.

A digital education pack will be created to tie in with Four Walls, following a similar structure as the education pack created for Rumpelstilzchen and Young Men. This will also be released on MoovBank.

BalletBoyz Parkinson’s CAN Dance classes will continue to be held in the studio and on Zoom. Both the morning session and the afternoon session will now take place in-person in the studio, and the class has been opened up to the extensive waiting list, enabling more people to be introduced to the classes. The afternoon session will also be streamed on Zoom for those participants who remain uncomfortable with visiting the studio.

It is the Company’s ambition to continue both Dance Together and The Amazings, the Company’s inclusive dance sessions. There are also plans in development for a new creative learning programme delivered together with the charity Hospital Rooms, whereby BalletBoyz company dancers visit NHS mental health units throughout the UK to run movement workshops.

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 their office only until the next Annual General Meeting, but they shall then be eligible for re-election.

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

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Trustees’ Report

appointed in 2017 to oversee accounting and financial matters as part of the Executive Team. A Finance SubCommittee 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 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 situation 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:

• Select suitable accounting policies and then apply them consistently

• Observe the methods and principles in the Charities SORP 2015 (FRS 102)

• Make judgements and estimates that are reasonable and prudent

• State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements

• Prepare the financial statements on the going concern basis unless it is inappropriate to presume the charitable company will continue in operation

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:

• There is no relevant information, being information needed by the auditor in connection with preparing their report, of which the charitable company’s auditor is unaware

• The Trustees have made enquiries of fellow directors and the charitable company’s auditor that they ought to have individually taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information

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.

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Trustees’ Report

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 19 December 2022 and signed on its behalf by

Michael Timothy Waldman Chair

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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 2022 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:

• give a true and fair view of the state of the charitable company's affairs as at 31 March 2022, and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006.

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

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

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. The trustees are responsible for the other information contained within the annual report. 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. 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 course of 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 this gives rise to a material misstatement in the financial statements themselves. 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.

We have nothing to report in this regard.

12

Independent Auditors' Report to the Members of BalletBoyz Ltd

Opinions on other matters prescribed by the Companies Act 2006

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

• the information given in the trustees' report (incorporating the directors' report) for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• the directors' report has been prepared in accordance with applicable legal requirements.

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:

• adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

• the financial statements are not in agreement with the accounting records and returns; or

• certain disclosures of directors' remuneration specified by law are not made; or

• we have not received all the information and explanations we require for our audit; or

• the trustees were not entitled to prepare the financial statements in accordance with the small companies' regime and take advantage of the small companies' exemptions in preparing the directors' report and from the requirement to prepare a strategic report.

Responsibilities of trustees

As explained more fully in the trustees' responsibilities statement set out on page 10, 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.

13

Independent Auditors' Report to the Members of BalletBoyz Ltd

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Discussions with and enquiries of management and those charged with governance were held with a view to identifying those laws and regulations that could be expected to have a material impact on the financial statements. During the engagement team briefing, the outcomes of these discussions and enquiries were shared with the team, as well as consideration as to where and how fraud may occur in the entity.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the FRC's website at: https://www.frc.org.uk/auditors/audit-assurance/auditor-s-responsibilities-for-the-audit-of-the-fi/description-ofthe-auditor%E2%80%99s-responsibilities-for. 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 Ltd Statutory Auditors Chartered Certified Accountants

49 South Molton Street London W1K 5LH

19 December 2022

14

BalletBoyz Ltd

(Limited by Guarantee)

Statement of Financial Activities (including Income and Expenditure Account) for the year ended 31 March 2022

Unrestricted Restricted funds funds Notes £ £ Income and endowments from: 2 Donations and legacies - page 16 479,811 - Charitable activities: Theatre - pages 16 - 17 210,622 10,000 Investments - page 17 38 - Other - page 17 3 94,400 - Total 784,871 10,000 Expenditure on: Raising funds: Fundraising - page 18 - - Charitable activities: Theatre - page 18 947,877 22,746 Total 947,877 22,746 Net income / (expenditure) 4 ) (163,006 ) (12,746 Transfers between funds 14, 15 32,439 ) (32,439 Net movement in funds: ) (130,567 ) (45,185 Reconciliation of funds: Total funds brought forward 594,358 303,696 Total funds carried forward 14, 15 463,791 258,511	2022 Unrestricted Restricted Total funds funds £ £ £ 479,811 645,693 - 220,622 13,971 3,653 38 155 - 94,400 - - 794,871 659,819 3,653 - 600 - 970,623 460,485 8,331 970,623 461,085 8,331 ) (175,752 198,734 ) (4,678 - 32,439 ) (32,439 ) (175,752 231,173 ) (37,117 898,054 363,185 340,813 722,302 594,358 303,696	2021 Total £ 645,693 17,624 155 - 663,472 600 468,816 469,416 194,056 - 194,056 703,998 898,054

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 2022

	2022	2022	2021	2021
	£	£	£	£
Income from donations and legacies
Grants
COVID-19 Emergency funding
ACE Culture Recovery Fund	116,410		174,690
HMRC Coronavirus Job Retention Scheme	10,388		91,996
Royal Borough of Kingston	-		25,507
		126,798		292,193
ACE - NPO funding		305,520		305,520
Robert Gavron Charitable Trust		25,000		25,000
The Woolbeding Charity		-		15,000
		457,318		637,713
Donations
Other		22,493		7,980
		479,811		645,693
Income from charitable activities
Theatre income
Performance fees		91,205		) (10,532
Educational income		-		233
Merchandise sales		15,316		3,745
Film production commissions		101,088		2,140
Technical equipment hire		894		7,541
Dancer's course fees / Studio fees		2,119		6,357
International fees		-		457
Other income		-		4,030
		210,622		13,971

16

BalletBoyz Ltd

(Limited by Guarantee)

Year ended 31 March 2022

Income from charitable activities (continued) Project specific funding Grants Private donations Malden Golf Club Natasha Duffield Investment income Bank Interest Other Film tax credit	2022 £ - - 10,000 10,000 38 94,400	2021 £ 340 3,313 - 3,653 155 -

17

BalletBoyz Ltd

(Limited by Guarantee)

Year ended 31 March 2022

	2022		2021
	£		£
Expenditure on raising funds
Fundraising costs	-		600
Expenditure on charitable activities
Theatre
Production costs
Directors'/dancers' wages/social security costs	154,079		161,096
Musician/creative team fees	264,991		11,711
Educational wages/fees	-		32,182
Production costs	174,486		2,860
Travel	13,825		364
Accommodation/subsistence	27,874		192
Marketing/promotions	23,454		95
Transport	15,984		19
Technical equipment hire	64,410		-
Merchandise	159		131
Rent	30,936		29,625
Rates/heating/cleaning	16,213		18,749
Repairs/renewals	2,246		8,025
Insurance	12,085		17,677
Storage	5,373		4,912
Royalty paid	186		-
Amortisation of short leasehold	24,329		24,329
Depreciation of fixtures/fittings/equipment	13,834		6,273
	844,464		317,474
Support costs - page 19	118,016		143,729
Governance costs - page 19	8,143		7,613
	970,623		468,816

18

BalletBoyz Ltd

(Limited by Guarantee)

Year ended 31 March 2022

		2022		2021
	£	£	£	£
Support and governance costs
Support costs
Office overheads
Rent	10,312		9,875
Rates/heating/cleaning	5,405		6,249
Telephone/fax	571		559
Repairs/maintenance/IT support	9,036		11,036
Amortisation of short leasehold	8,110		8,110
Depreciation of fixtures, fittings and equipment	4,612		2,091
		38,046		37,920
Administration costs
Salaries	56,345		75,999
Financial reporting	9,750		11,750
Social security costs	823		7,000
Staff pension costs	3,167		2,280
Staff training	94		-
Staff welfare	84		371
Printing/postage/stationary	2,841		2,625
Subscriptions/licences	6,329		5,176
Sundries	-		168
		79,433		105,369
Professional/financial
Bank charges	518		426
Deficit on foreign exchange	19		14
		537		440
		118,016		143,729
Governance costs
Legal/professional	793		13
Accountancy/consultancy	3,600		3,850
Audit	3,750		3,750
		8,143		7,613
		126,159		151,342

19

BalletBoyz Ltd

(Limited by Guarantee)

Balance Sheet 31 March 2022

		2022	2022	2021	2021
	Notes	£	£	£	£
Fixed assets
Tangible assets	9		214,846		259,337
Current assets
Debtors	10	225,715		49,306
Investments	11	63,092		63,092
Cash at bank and in hand		268,940		594,047
		557,747		706,445
Liabilities
Creditors: amounts falling
due within one year	12	) (50,291		) (67,728
Net current assets			507,456		638,717
Total assets less current
over total assets			722,302		898,054
The funds of the charity:
Unrestricted funds
- General fund	14		100,606		231,173
- Designated funds			363,185		363,185
			463,791		594,358
Restricted funds	15		258,511		303,696
Total charity funds			722,302		898,054

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 19 December 2022 and signed on its behalf by

Michael Timothy Waldman Trustee	Anne Heal
	Anne Fowler Trustee Anne Heal (Dec 19, 2022 16:53 GMT)

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 2022

		2022		2021
	Notes	£		£
Cash flows from operating activities	19	) (318,751		301,125
Cash flows from investing activities:
Dividends, interest and rents from investments		38		155
Purchase of property, plant and equipment		) (6,394		) (67,212
Part return of original investment		-		36,438
Net cash provided by investment activities		) (6,356		) (30,619
Change in cash at bank and in hand in the reporting period		) (325,107		270,506
Cash at bank and in hand at the beginning of the reporting
period		594,047		323,541
Cash at bank and in hand at the end of the reporting
period		268,940		594,047

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:

• the charity is legally entitled to the funds

• any performance conditions attached to the income have been met or are fully within the control of the charity

• there is sufficient certainty that receipt of the income is considered probable

• the amount can be reliably measured

- Donations and legacies

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

• when donors specify that grants/donations given to the charity must be used in future accounting periods, the income is deferred until those periods

• when donors impose conditions which have to be fulfilled before the charity becomes entitled to use such income, the income is deferred and not included in incoming resources until the preconditions for use are met.

- 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:

• there is a legal or constructive obligation to make a payment

• it is probable that settlement will be required

• the amount of the obligation can be measured reliably

- 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:

• Leasehold properties Straight line over the life of the lease Fixtures/fittings/equipment - 25% on cost

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:

• Unrestricted general funds - these are funds which can be used in accordance with the charitable objects at the discretion of the trustees.

• Designated funds - these are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose.

• Restricted funds - these are funds that can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

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 nil% (2021 - 1%).

24

BalletBoyz Ltd

(Limited by Guarantee)

3. Other income

3.	Other income
		2022		2021
		£		£
	Film tax credit	94,400		-
4.	Net income/(expenditure) for the year is	2022		2021
	stated after charging:	£		£
	Depreciation of tangible fixed assets	50,885		40,803
	Deficit on foreign exchange	19		14
	Auditors' remuneration
	- external audit	3,750		3,750
	- other services	3,600		3,850

5. Trustees' emoluments and reimbursed expenses

The trustees received no remuneration during the year (2021 - £nil).

The aggregated amount reimbursed to trustees during the year was £nil (2021 - £nil).

25

BalletBoyz Ltd

(Limited by Guarantee)

6.	Staff costs and numbers	2022	2021
		£	£
	Staff costs
	Salaries and wages	180,902	232,656
	Social security costs	17,702	25,237
	Pension costs	5,713	6,980
		204,317	264,873

2 employees earned between £60,000 and £70,000 during the year (2021 - 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 £137,200 (2021: £144,200)

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:
	2022	2021
	Number	Number
Administrative	2	3
Production	2	2
Education	-	1
	4	6

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 £5,713 (2021 - £6,980).

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/		Total
		property		equipment
			£	£		£
	Cost
	1 April 2021		486,587	283,367		769,954
	Additions		-	6,394		6,394
	31 March 2022		486,587	289,761		776,348
	Depreciation
	1 April 2021		291,950	218,667		510,617
	Charge for year		32,439	18,446		50,885
	31 March 2022		324,389	237,113		561,502
	Net book values
	31 March 2022		162,198	52,648		214,846
	31 March 2021		194,637	64,700		259,337
10.	Debtors			2022		2021
				£		£
	Trade debtors			74,227		729
	Other debtors			26,517		39,077
	Prepayments and accrued income			124,971		9,500
				225,715		49,306
11.	Current asset investments			2022		2021
				£		£
	Other unlisted investments (note 18)			63,092		63,092
12.	Creditors: amounts falling due			2022		2021
	within one year			£		£
	Trade creditors			36,004		5,533
	Other taxation and social security			1,245		6,536
	Other creditors			6,542		6,921
	Accruals			6,500		48,738
				50,291		67,728

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 2022 there were 8 members.

14.	Unrestricted funds	Brought	Brought	Incoming	Incoming	Outgoing	Outgoing	Transfers	Transfers		Carried
		forward		resources		resources				forward
			£		£		£		£		£
	General fund		231,173		784,871		) (947,877		32,439		100,606
	Designated funds:
	Monument Trust		363,185		-		-		-		363,185
	Legacy grant
			594,358		784,871		) (947,877		32,439		463,791

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	Incoming	Outgoing	Outgoing	Transfers	Transfers	Carried
		forward	resources		resources				forward
		£		£		£		£	£
	Fixed assets - Premises	194,637		-		-		) (32,439	162,198
	& Fixtures
	MoovBank (previously	18,282		-		) (2,250		-	16,032
	Digital Dance Platform)
	Parkinson's CAN Dance	12,517		-		) (10,496		-	2,021
	Programme
	Dance Together	50,411		-		-		-	50,411
	Inclusive Classes	3,360		-		-		-	3,360
	Rumpelstiltskin	-		10,000		) (10,000		-	-
	Young Men	24,489		-		-		-	24,489
		303,696		10,000		) (22,746		) (32,439	258,511

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 2022 is attributable to:

The balance at 31 March 2022 is attributable to: Leasehold property	£ 162,198

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.

Rumpelstiltskin

Donation from Natasha Duffield towards Rumpelstiltskin.

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	Total
	funds	funds	funds
	£	£	£	£
Fund balances at 31 March 2022
are represented by:
Tangible fixed assets	52,648	-	162,198	214,846
Net current assets	47,958	363,185	96,313	507,456
	100,606	363,185	258,511	722,302

30

BalletBoyz Ltd

(Limited by Guarantee)

17. Financial commitments

At 31 March 2022 the company had future minimum lease payments under non-cancellable operating leases, with payments falling due as follows:

	2022	2021
	£	£
Due:
Within one year	38,000	38,000
Between one and five years	152,000	152,000
In over five years	9,500	47,500
	199,500	237,500

18. Related party transactions

During the year, expenditure of £2,420 (2021 - £2,099) was paid to Manilla Productions Ltd, a company which is owned and controlled by the Artistic Directors of the Charity, with income of £10,000 (2021 - £12,108) 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 £36,438 return to date) 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.

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

		2022		2021
		£		£
Net income/(expenditure) for	the	) (175,752		194,056
reporting period (as per	the
statement of financial activities)
Depreciation		50,885		40,803
Dividends, interest and rents from investments		) (38		) (155
Decrease/(increase) in debtors		) (176,409		85,276
(Decrease)/increase in creditors		) (17,437		) (18,855
Net cash outflow from operating activities		) (318,751		301,125

31