Charity reglstration number 1110550 (England and Wales) THE ROYAL BALLET SCHOOL PARENT TEACHER ASSOCIATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
THE ROYAL BALLET SCHOOL PARENT TEACHER ASSOCIATION LEGAL AND ADMINISTRATIVE INFORMATION Trustees D Gajadharsingh S Chironi J Tail-Harris S Phoenix A Withers B Halley J Carayol Z Kristalli K Harrold L Hamilton MEde Dr Rachael Hogan (Appointed 10 September 20231 (Appointed 1 September 20231 (Appointed 1 September 20231 (Appointed 2 October 2024) (Appointed 13 September 20241 (Appointed 13 Sèptember 2024} (Appointed 1 September 2024) (Appointed 1 Septèmber 2024} J West J Yadla H Collell A Waker F Rodrigues - Haskelh C Lavaux M Waller Charity number (England and Wales) 1110550 Prlnclpal address While Lodge Richmond Park Richmond Surrey TW10 SHR Independent examiner Clarke & Co Acoin House 33 Churchfield Road London W3 6AY Bankers HSBC PIC 60 Albert Road Middlesbrough TS1 1RS
THE ROYAL BALLET SCHOOL PARENT TEACHER ASSOCIATION CONTENTS Page Trustees report Statement of Truslees responsibilities Independent examiner's report Statement of financial activities Balance sheet Slalement of cash flows Notes to the financial slalements 9-13
THE ROYAL BALLET SCHOOL PARENT TEACHERASSOCIATION TRUSTEES REPORT FOR THE YEAR ENDED 31 AUGUST 2024 The Trustees present their annual report and financial statements for the year ended 31 August 2024. The financial statements have been prepared in accordance wilh the accounting policies set out in note 1 to the financial statements and comply with the charities governing instrument. the Charities Act 2011 and "Accounting and Reporting by Charities.. Stalernent of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021" leffeclive 1 January 2019). The Trustees are satisfied with the performance of the charity during the year and the position at the year end and consider that the charily is in a strong position to continue ils activities during the coming year and that the charity's assets are adequate to fulfil its obligations. The previous Royal Ballet School Parent Teacher Association gained charitable status on 22nd July 2005 and the Charity is now governed by a trust deed. Objeclivos and a¢llvltles The objective of the association is lo advance the education of pupils in the school in particular developing effeclive relationships between the staff, parents and others associated with the school and engaging in tIVitIeS or providing facilities or equipment which support the school and advance the education of thè pupils. The association aims lo support the activities of The Royal Ballet School in the education of its students by providing facilities for the benefit of students. These facilities include equipment for use by the students in the ¢ourse of their general education and ballet training and also for their general wellbeing in the boarding environment. The asso¢ialion also supports events organised to develop relationships between staff, parents and students which are essential due to the specialist nature of the education and training given and the boaiding environment in which il lakes place. In order lo fulfil ils objectives. the association has engaged in fundraising activities lo provide adequate funds which can be disbursed. The Trustees have paid due regard lo guidance issued by the Charity Commission in deciding what activities the should undertake. Achievements and performance Fund raising activities increased significantly on the prior year as did the charitable activities of the association. A small surplus recorded for the year which the trustees consider to be satisfactory. Financial review The Trustees have resolved to establish reserves lo provide for future activities. The policy on reserves is that the existing assets are retained to enable grants to be made to The Royal Ballet School for the benefit of pupils of the school in accordance with the aims of the association.
THE ROYAL BALLET SCHOOL PARENT TEACHERASSOCIATION TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 General Policies The Trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards {Uniled Kingdom Generally Accepted Accounting Practice). The law applicable to charilies in England and Wales, the Charities Act 2011 and the provisions of the trust deed requires the Trustees lo prepare financial statements for each financial year which give a true and fair view of the slate of affairs of the charity and of the incoming resources and application of resources. including the income and expenditure, of the charity for that period. In preparing those financial statements, the Trustees are required lo.. select suitable accounting policies and then apply them consistently.. observe the methods and principles in the Charity SORP,. make judgements and eslimales that are reasonable and prudent., and prepare the financial slalemenls on the going concern basis unless it is inappropriate to presume that the charity will continue in businéss. Structurei governan¢e and management The ¢harity is controlled by ils governing documenl. a deed of trust, and constitutes an unincorporated charity. The Trustees who served during the year and up lo the dale of signature of thè financial slalemenls were.. D Gajadharsingh R Pearce S Pearce E Vvafd S Chironi K Grace J Tait-Harris M Hannaford C Nalaf-Peson8n S Phoenix A Withers B Hatley J Carayol Z Krislalli B Lambart C Chisholm K Harrold L Lambart L Hamilton MEde Ai Dee Chan Shona English Dr Rachael Hogan J West J Yadla H Collett A Waker F Rodrigues- Hasketh C Lavaux M Waller (Resigned 1 September 20231 (Resigned 1 September 20231 (Resigned I September 20231 {Resigned 1 September 20231 {Resign@d 1 September 2023) (Resigned 1 September 20231 (Resigned 1 September 2023) {Resigned 1 September 2023) {Resigned 1 September 2023) (Resigned 1 September 2023} {Resigned 1 September 2023) (Appointed 10 September 20231 (Appointed 1 September 2023} (Appointed 1 September 2023} (Appointed 2 October 20241 (Appointed 13 September 20241 (Appointed 13 September 2024) (Appointed 1 September 20241 (Appointed 1 September 2024}
THE ROYAL BALLET SCHOOL PARENT TEACHER ASSOCIATION TRUSTEES REPORT {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 None of the Trustees has any beneficial interest in the company. All of the Trustees are membefs of the company and guarantee to contribute £1 in the evenl of a winding up. Rgportlng accountant In accordance with the company's articles, a resolution proposing thal C14rke & Co be reappointed as ind&pénd¢nl examiner of the company will be put al a General Meeting. D15¢10gure of Infomatlon to r?porting accountant Each of the Trustee8 has Confirmed that there is no informalion of which they 8re aware which is relevant lo the audit, bul of which the auditor is unaware. They have further confimed that Ihey have lakan appropriate steps lo identify such relev8nl information and lo eslabllsh that th6 audilor is aw8re of such inloTmalion. The Trustees roport was approved by the Board of Trijslees. S Chironi Trustees 20 Junè 2025
THE ROYAL BALLET SCHOOL PARENT TEACHER ASSOCIATION STATEMENT OF TRUSTEES RESPONSIBILITIES FOR THE YEAR ENDED 31 AUGUST 2024 The Trustees are responsible for preparing the Trustees Report and the financial stalemenls in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally ACpIed Accounting Practice). The law applicable lo charities in England and Wales requires the Trustees lo prepare financial statements for each financial year which give a true and fair view of the slate of affairs of the and of the incoming resources and application of resources of the for that year. In preparing these financial slalements, the Trustees are required to.. select suitable accounting policies and then apply them consistenlly., observe the methods and principles in the Charities SORP-, make judgements and estimates that are reasonab16 and prudent., slate whether applicable accounting standards have been followed, subject to any material departures disclosèd and explained in the financial statements., and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The Trustees are responsiblé for keeping sufficient accounting records that disclose wilh reasonable accuracy at any lime the financial position of the and enable them lo ensure that the financial slalemenls comply with the Charities Act 2011, the Charily (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the and hence for taking reasonable steps for the prevention and detection of fraud and other irregularitiés.
THE ROYAL BALLET SCHOOL PARENT TEACHERASSOCIATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE ROYAL BALLET SCHOOL PARENT TEACHER ASSOCIATION I report lo Ihe Tiustees on my examination of the financial statements of The Royal Ballet School Parent Teacher Association (the ) for the year ended 31 August 2024. Responsibilities and basis of report As the Trustees of the you are responsible for the preparation of the financial statements in accordance with Ihe reqijirements of the Charities Act 2011. I report in respect of my examination of the 's financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 14515llb) of the Charities Act 2011. Independent examiner's ststement Your attention is drawn to the fact that the charity has pr&pared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 in preference to the AccoLsnling and Reporting by Charilies.. Slalemenl of Recommended Practice issued on 1 April 2005 which is referred lo in the exlanl regulations but has now been withdrawn. l undefsland that this has been done in order for the financial slalements lo provide a true and fair view in accordance with UK Generally Accepted Accounting Practice. I have completed my examination. I confirm that no matters have come lo my attention in connection with the examination giving me cause to believe that in any material respect., accounting records were not kept in respect of the as required by section 130 of the Charities Act 2011. the financial statements do not accord with those records., or the financial slalemenls do not Gomply with the applicable requirements concerning the form and content of financial statements sel out in the Charities {Accounls and Reports} Regulations 2008 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination. I have no concems and have come across no other matters in connection with t should be drawn in this report in order to enable a proper understanding of the xaminalion lo which attention al statements to be reached. Clarke & Co M. T. Slower FCA Acorn House 33 Churchfield Road London W3 6AY Clarke & Co Chartered Accountant Dated.. 20 June 2025
THE ROYAL BALLET SCHOOL PARENT TEACHER ASSOCIATION STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2024 Unrestricted funds 2024 Unrestricted funds 2023 Notes Income from: Donations and legacies Other trading activities 13,242 36,922 143 25,259 Total In¢ome 50,164 25.402 Expenditure on: Raising funds Charitable activities 7,871 46,212 2,352 17.770 Total expendlture 54.083 20.122 Net incomel(expendltur8} and movemant In fundg (3,919) 5,280 Reconciliatlon of funds: Fund balances al 1 September 2023 61,332 56,052 Fund balances at 31 August 2024 57,413 61,332 The slalemenl of financial activities includ8s all gains and losses recognised in the year. All income and expenditure derive from continLsing activities.
THE ROYAL BALLET SCHOOL PARENT TEACHERASSOCIATION BALANCE SHEET ASAf31 AUGUST2024 2024 2023 Notes Current assets Slcii-ks C•¢i%li al tY¢ink r)d 111 naiTr(I 83.434 11,3.4J4 )a £)?5 Creditors.. amotjnls f¢illii)g Iliie witliin onv year .11 Nel Lu rrvrit 41s4iJIs Tlip Iiii)(1s df the LJnre%lrirlÉ4.d fijnd 1.332 61.3.12 Tli@ Iii)81'1(',1(1I 4ialcAiiio1i1% w¢èro ?L l)pfniil liy Ilip I'i'iJ4lovs i)11 Jn Jijrio 201(. I'rii%lee8
THE ROYAL BALLET SCHOOL PARENT TEACHER ASSOCIATION STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2024 2024 2023 Notss Cash flows from operating activities Cash generated from operations 18,868 8,000 Net cash generatsd from investing activilles Net cash generated from financlng activities Net increase in cash and cash equivalents 18,868 8,000 Cash and cash equivalents al beginning of year 64,566 56.566 Cash and cash equivalents at end of year 83,434 64.568
THE ROYAL BALLET SCHOOL PARENT TEACHERASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Accounting policles Charity inforniation The Royal Ballet School Parenl Teacher Association is a unincorporated charity established by a trust deed on 23 October 2004 . 1.1 Accounting convention The financial statements have been prepared in accordance with the 's governing document. the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charilies preparing their accotjnls in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) The is a Public Benefit Entity as defined by FRS 102. The financial statements have departed from the Charities (AccoLtnls and Reports) Regulations 2008 only to the extent required lo provide a true and fair view. This departure has involved following the Slalemenl of Recommended Practice for Charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The financial slalements are prepared in sterling, which is the functional currency of the . Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and lo include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are sel out below. 1.2 Going concern Al the time of approving the financial slalements, the Trustees have a reasonable expectation that the has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees Continue to adopt the going ¢on¢ern basis of accounting in preparing the financial slalemenls. 1.3 Charitable funds Unreslricled funds are available for use al the discr81ion of the Trust8es in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are sel out in the notes lo the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the 1.4 Income Incom& is recognised when the is legally entitled lo il after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the has been notified of the donation, unless performance conditions require deferral of the amount. Income lax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or othenmise if the has been notified of an impending distribulion, the amount is known, and receipt is èxpected. If the amount is not known, the legacy is treated as a contingent asset.
THE ROYAL BALLET SCHOOL PARENT TEACHERASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Accounting policies (Continued) 1.5 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and Ihe amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of dir&t costs and shared costs, including support cos15 involved in undertaking each activily. Direct costs attributable lo a single activity are allocated directly to that aclivily. Shared costs which contribute lo more than onè activity and support costs which are not altribulable to a single activity are apportioned between those activities on a basis consistent with the use of rèsources. Central staff costs are allocated on the basis of lime spent, and depreciation charges are allocated on the portion of the asset's use. 1.6 Stockg Stocks are slated at the lower of cost and estimated selling price less costs to complete and sell. Cosl comprises direct materials and, where applicable, direct labour costs and those overheads th21 have been incurred in bringing the stocks lo their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement Cost and cost. Net realisable value is the estimated selling price less all eslimaled costs of completion and costs lo be incurred in marketing, selling and distribution. 1.7 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. Bas1¢ flnancial a$set$ Basic financial assets, which include debtors and cash and bank balances. are initially measured al trar7saction price including transaction costs and are subsequently carried al amortised ¢osl using the effective interest method unless the arrangement constitutes a financing transaction, wher& the transaction is measured al the present value of the future receipts discounted at a market rale of interest. Financial assets ¢lassified as receivable within one year are not amortised. Baslc flnanclal liabilitles Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement conslilutes a financing Iransaclion, where the debt instrument is measured at the present value of the future payments discounted al a markel rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, usin9 the effective interest rate method. Trade credilors are obligations lo pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as Current liabilities if payment is due within one year or less. If not, they are presented as non-currenl liabilities. Trade creditors are recognised initially at transaction price and subsequently measured al amortised cost using thè effective interest method. Derecognition of financial liabilities Financial liabilities are derecognised when the 's contractual obligations expire or are discharged or cancelled. 10-
THE ROYAL BALLET SCHOOL PARENT TEACHER ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Accounting policies (Continued) 1.8 Employee benefits The cosl of any unused holiday enlillement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the is demon51rably committed to terminate the employment of an employee or lo provide termination benefits. Critical accounting estimates and judgements In the application of the 's accounting policies, Ihe Trusleès are required lo make judgements. eslimales and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered lo be relevant. Actual results may differ from thesè estimates. The eslimates and underlying assumptions are reviewed on an ongoing basis. Revisions lo accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. Income from donatlons and lagaGies Unrestrlcted Unrestricted funds fundg 2024 2023 Donations and gifts 13,242 143 Income from other trading activitles Unrestrlcted Unrestrlcted fund$ funds 2024 2023 Fundraising events Shop income 36,890 32 24,918 341 FLsndraising 36,922 25,259 11
THE ROYAL BALLET SCHOOL PARENT TEACHER ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Expenditure on raising funds Unrestrlcted Unrestrlcted funds funds 2024 2023 Fundraising and publicity Seeking donations, grants and legacies Support costs 960 2,552 960 762 3,512 1,722 other trading cost Operating charity shops 4,359 630 Total costs 7,871 2,352 Expenditure on charltable a¢tlvltle$ Unrestricted unrestrlcted funds funds 2024 2023 Dlre¢t costs Events and material ¢osl 46,212 17,770 Analysis by fund Unrestricted funds 46,212 17,770 Trustees None of the Trustees (or any persons connected wilh them) received any remuneration or benefits from the during the year. Employee8 The average monthly number of employees during the year was.. 2024 Number 2023 Number Total There were no employees whose annual remuneration was more than £60,000. Remuneration of key management personnel The remuneration of key management personnel was as follows.. 12
THE ROYAL BALLET SCHOOL PARENT TEACHER ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Taxatlon The charity is exempl from taxation on its activities because all its income is applied for Gharilable purposes. 10 Stocks 2024 2023 Finished goods and goods for resale 4,359 11 Creditors: amount$ falling due within onè year 2024 2023 Trade creditors Accruals and deferred income 24,101 1,920 6,633 960 26.021 7,593 12 Unrestricted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject lo specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unreslricled funds by the trustees for specific purposes. At1 September 2023 Incoming resources Resources At 31 August éxpended 2024 General funds 61,332 50,164 {54,083) 57.413 Previous year: At1 September 2022 Incoming resources Resources At 31 August expended 2023 General funds 58,052 25,402 120,122} 61,332 13 Related paty transactions There were no disclosable related party Iransactions during the year {2023 - none). 14 Analysis of Ghanges in net funds The charity had no debt during the year. 13