THE NEW ENGLISH BALLET THEATRE
(Registered Charity No: 1137943) (Registered Company No: 7232736)
TRUSTEES’ REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2021
THE NEW ENGLISH BALLET THEATRE
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2021
REFERENCE AND ADMINISTRATION DETAILS
TRUSTEES / DIRECTORS Ms Margaret Andraos Ms Deborah Bennett Mr Julian Flitter Mr Alastair Macpherson (Chair) Mr Hugh Paget Mrs Karen Pilkington-Miksa Ms Kristina Rogge Mr Simon Patrick Weil ARTISTIC DIRECTOR Mrs Karen Pilkington-Miksa B.Ed ARAD REGISTERED OFFICE 34 Gunterstone Road London W14 9BU GOVERNING INSTRUMENT Memorandum and Articles of Association incorporated on 22 April 2010 CHARITY REGISTRATION NUMBER 1137943 COMPANY REGISTRATION NUMBER 7232736 INDEPENDENT EXAMINER Olayinka Tomori ACA, DChA Longmeade Consult Ltd Victory Way Admirals Park Dartford DA2 6QD BANKERS Barclays Bank plc Leicester LE87 2BB SOLICITORS Charles Russell Speechlys 5 Fleet Place London EC4M 7RD
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THE NEW ENGLISH BALLET THEATRE
REPORT OF THE TRUSTEES (Continued)
FOR THE YEAR ENDED 31 DECEMBER 2021
The trustees, who are also the directors for Companies Act purposes, present their report and the accounts of the charity for the year ended 31 December 2021.
In 2020, the charity changed its accounting reference date from 31 March to 31 December in order to align the financial outcomes with the real world ofthe Company's performing schedules and making it less confusing for third parties. Consequently, the comparative figures in the accounts cover the 9-month period to 31 December 2020.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Constitution
The New English Ballet Theatre is a registered charity and registered company incorporated under a Memorandum and Articles of Association registered on 22 April 2010.
Appointment of Trustees
Unless otherwise determined by Ordinary Resolution, the maximum number of Trustees shail be twelve and the minimum number shall be two. Any person who is willing to act as a Trustee, and is permitted by law to do so, may be appointed a Trustee:
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By Ordinary Resolution
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o By asimple majority of all Trustees entitled to attend and vote at any meeting of the Trustees.
Management
The Board of Trustees meets as required and delegate the day-to-day running of the affairs of the charity to the Artistic Director who is supported by three other members of staff. A sub-committee has been established to cover development and fundraising.
Induction of new trustees and trustee training
Trustees have undergone an orientation and training session given by Simon Weil, a trustee and a solicitor specialising in charity law, to acquaint them with their legal obligations under charity and company law, Charity Commission guidance on public benefit, the contents of the Memorandum and Articles of Association and the strategy, decision-making processes and business plans of the charity.
Key Management and management remuneration
The trustees consider that the key management of the Charity consists of themselves, and in particular the Artistic Director, to whom much of the running of the day-to-day running operation devolves. The Artistic Director, who is also a trustee, is employed by the charity and is not involved in any discussions to set her remuneration. Her remuneration is set by benchmarking against those of similar charities with due consideration to any other unique skills required to carry out the job.
No trustee receives remuneration for acting as trustee although payments are made for other services provided to the charity — see Note 5 to the financial statements. The sums charged by the trustees are below the open market value.
OBJECTIVES AND ACTIVITIES
The charity’s objects are:
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© To advance the education, appreciation and knowledge of the public in the art of ballet, in particular but without limitation by:
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The formation of a ballet theatre production company for the presentation of public performances of ballet and exhibitions and by such other ways as the trustees shall determine from time to time;
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Advancing the education and training of young artists, including but not exclusively dancers, choreographers, musicians, designers, and artists, predominantly through the performance of ballet and dance and the production of professional stage shows.
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Toadvance any other exclusively charitable objects and purposes in any part of the world.
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THE NEW ENGLISH BALLET THEATRE
REPORT OF THE TRUSTEES (Continued)
FOR THE YEAR ENDED 31 DECEMBER 2021 a
OBJECTIVES AND ACTIVITIES (continued)
Our mission and artistic vision is:
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© To offer paid performance opportunities to young professionals across the fields of ballet, music, visual art and choreography, and give them the chance to work alongside established professionals to develop their careers.
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o To explore collaboration between dance, music and visual art to foster a pioneering, cross-discipline style of ballet performance.
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o To nurture the individual development of each dancer and give solo opportunities not often found in larger companies. o To provide opportunities to our emerging young choreographers, musicians and visual artists - commissioning their works and developing their talents.
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o To further the study of choreography and visual art for the dance stage and the composition and arrangement ofmusic for dance.
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NEBT was born from a groundswell of support from many leading figures in the ballet and performance arts worlds, many of whom have pledged their time and professional expertise.
PUBLIC BENEFIT
The trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on Public Benefit when reviewing the charity’s aims and objectives and in planning future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set.
1. REVIEW OF THE 2021 SEASON
The Company found itself for the second year attempting to revive the postponed 2020 season and then having to cancel or change plans, thanks to the constantly changing Covid picture and the reinstatement of lockdowns.
Similar cost containment measures were in place as they were in 2020. We continued to support our dancers and artists where possible and in the final quarter of the year as part of our digital media emphasis we spent almost £100,000 on choreographing, rehearsing and filming 4 Genesis songs that will form part of the eventual Genesis full length ballet (which is continuing as a work in progress). Of this amount the dancers received £27,584, designers and choreographers £13,500, ballet master guest teachers and pianists £5.990, technical crew and equipment for filming £27,082.
We are pleased that we were able to retain 3 dancers from our 2020 season and 5 dancers from our 2021 season, who have now been offered contracts to perform with us in 2022.
Turning to our operating plan, we were obliged to run several scenarios at once. Fortunately, many of our supporters, both Trusts and Foundations and individual philanthropists, seemed to understand this and trusted us to navigate through these choppy and changeable waters by continuing their support. This included the carry-forward of almost all amounts previously pledged, notably sponsorship of individual dancers and also tickets for the Gala Event at the Savoy Hotel originally planned for 2020 and now taking place on 25" May 2022.
During the year we focussed our efforts on four major projects in the expectation that these would come to fruition once the Covid lockdowns were over:
- e Producing an All-Female Choreographers Programme, to be performed as part of the Royal Ballet’s diversity/talent development pipeline ‘NextGen Festival’ at the Royal Opera House Linbury Theatre. This Festival was planned for June 2020 and June 2021 and will now take place in June 2022
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THE NEW ENGLISH BALLET THEATRE REPORT OF THE TRUSTEES (Continued) FOR THE YEAR ENDED 31 DECEMBER 2021
-
REVIEW OF THE 2021 SEASON (continued)
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e Collaboration with Genesis, one of the biggest rock/pop bands of all time, where we advanced our arrangements with the full support of Tony Banks, Phil Collins, Peter Gabriel, Steve Hackett and Mike Rutherford. This will eventually be a full evening performance in which selected tracks will be set by 5 NEBT choreographers under the overall direction of renowned choreographer Wayne Eagling
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e Cultural partnerships with institutions such as the Cheltenham Music Festival, Lyric Hammersmith, ROH Trailblazer Programme in Thurrock, and the Royal Ballet
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e A new partnership with The Grange Festival, where we will perform for the first time as part of their ‘Dance at The Grange’ programme, including a dance performance for many schools in the area as part of their outreach programme.
2. FINANCIAL SUPPORT
We were delighted that a number of the Trusts and Foundations, as well as individual donors, chose to renew or pledge their support for us in 2021, notably the Arimathea Trust, the Kathleen Hannay Memorial Charity, the Mercers’ Company, the Fenton Arts Trust, the D’Oyly Carte Charitable Trust, the Nicholas Berwin Charitable Trust, the Damon de Laszlo Foundation and the Sir Edward Lewis Foundation.
In addition, we received many generous individual philanthropic donations, most notably from the Deborah Loeb Brice Donor Advised Fund.
3. FINANCIAL REVIEW
Our total income of £167,631 was well below the amounts that we had originally budgeted before the renewed lockdowns, but still represented an improvement over the 2020 income figure of £135,279.
On the expenditures side, while keeping a tight rein on costs generally, as mentioned above we spent almost £100,000 on choreographing, rehearsing and filming the first 4 Genesis songs and we also made certain expenditures with an eye towards the eventual return to performing in 2022. Thus our costs rose from £88,438 in the none months to 31 December 2020 to £195,886 and we recorded a net expenditure of £28,255 for the year.
4. RESERVES
The total reserves of the charity at 31 December 2021 stood at £204,846, consisting of £30,941 of restricted funds and unrestricted general funds of £173,905 (2020: £145,941). The designated funds of £50,000 brought forward from 2020 were fully expended in 2021.
The intention of the Board remains to have unrestricted general funds equal to 4-6 months of running costs at all times, which amounts to £100,000-150,000 based on 50% of our normalised average annual spend.
5. PLANS FOR THE FUTURE
NEBT is a neoclassical ballet company that paints with a wide musical palette. We employ classically trained dancers and choreographers, while being interested in the points at which contemporary dance crosses with the classical vocabulary. In addition, we are keen to explore an ever-wider range of music so as to broaden our audience appeal. We are also interested in dance choreographed especially for film.
With the end of lockdown we are progressing with an ambitious programme for 2022, including the postponed All Female Choreographers Programme for the Linbury Theatre now taking place in June 2022, and a first-time engagement by the Grange Festival in Hampshire where we will give 3 performances of our successful ballet from 2018 The Four Seasons by Jenna Lee, set to the famous Vivaldi score re-orchestrated by Max Richter.
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THE NEW ENGLISH BALLET THEATRE
REPORT OF THE TRUSTEES (Continued)
FOR THE YEAR ENDED 31 DECEMBER 2021
5. PLANS FOR THE FUTURE (Continued)
Thus our season at this writing (April 2022) will be as follows:
Our new All Female Choreographers Programme, comprising 6 short ballets, will be performed in 3 performances in the Linbury Theatre on June 17th and 18th .
We will give a performance at the Thameside Theatre in Thurrock (Essex) on July Ist for school children, as part of our Outreach programme.
On July 10th we will be in the Everyman Theatre in Cheltenham as part of the Cheltenham Music Festival, performing the All Female Choreographers Programme.
On July 13th and 14th we will be at the Grange Festival where we will give
3 performances of The Four Seasons, including an outreach performance for schools.
On July 20th and 21st we will perform at the Crescent Theatre in Birmingham with a mixed bill (programme still TBC).
These are all exciting projects and we do anticipate that as the word gets around about a new NEBT Genesis ballet, we will attract substantial audiences including young people and many others who would not normally think of attending a dance or ballet performance.
STATEMENT OF TRUSTEES’ RESPONSIBILITIES
Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company as at the balance sheet date and of its incoming resources and resources expended (including income and expenditure) for that year. In preparing these financial statements, the Trustees are required to:
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e select suitable accounting policies and then apply them consistently;
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e observe the methods and principles of the Charities SORP;
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e make judgements and estimates that are reasonable and prudent; and
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e adopt the going concern basis unless it is inappropriate to presume that the charitable company will continue on that basis.
The Trustees are responsible for the keeping of proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and which enable them to ensure that the financial statements comply with the Charities Act 2011 and Companies Act 2006. They have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the charitable company and to prevent and detect fraud and other irregularities.
The financial statements which follow have therefore been drawn up to comply with the above statutory requirements, with the Memorandum and Articles of Association and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Second Edition effective 1 January 2019) - (Charities SORP (FRS 102).
The Trustees’ Report was approved by the Board and signed on their behalf on A . May 2022 by:
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:
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Karen Pilkington-Mika
Trustee
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\ R
Alastair Macpherson
Trustee
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INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF
THE NEW ENGLISH BALLET THEATRE
FOR THE YEAR ENDED 31 DECEMBER 20721
I report to the charity trustees on my examination of the accounts of the charitable company for the year ended 31 December 2021.
Responsibilities and basis of the report
As the charity’s trustees of the charitable company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the charitable company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Olayinka Tomori ACA, DChA Chartered Accountant
Ie. May 2022
Longmeade Consult Ltd Regus House Victory Way Admirals Park Dartford DA2 6QD
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THE NEW ENGLISH BALLET THEATRE
STATEMENT OF FINANCIAL ACTIVITIES (including Income & Expenditure Account)
FOR THE YEAR ENDED 31 DECEMBER 2021
| 9 months to | |||||
|---|---|---|---|---|---|
| 31 December | 31 December | ||||
| Notes | Unrestricted | Restricted | 2021 Total |
2020 Total |
|
| £ | £ | £ | £ | ||
| (Note 11) | |||||
| INCOME from: | |||||
| Donations, legacies and grants | 1 | 116,099 | 29,281 | 145,380 | 103,939 |
| Charitable activities | 2 | 22,251 | - | 22,251 | 31,340 |
| Total income | 138,350 | 29,281 | 167,631 | 135,279 | |
| EXPENDITURE on: | 3 | ||||
| Raising funds | 4,086 | - | 4,086 | 40 | |
| Charitable activities | 156,300 | 35,500 | 191,800 | 88,398 | |
| Total expenditure | 160,386 | 35,500 | 195,886 | 88,438 | |
| Net(expenditure)/income and | |||||
| NetMovement inFunds | (22,036) | (6,219) | (28,255) | 46,841 | |
| Fund balancesbrought forward | |||||
| at 1 January 2021 | 195,941 | 37,160 | 233,101 | 186,260 | |
| Fund balances carried forward | ———_——- | -—— | —— | —--— | |
| at31December2021 | £173,905 | £30,941 | £204,846 | £233,101 |
No separate summary income and expenditure account has been prepared because all the required information is given in the above statement.
All recognised gains and losses in the current year are included in the income and expenditure account.
All operations are continuing activities.
The accompanying notes form part of these accounts.
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THE NEW ENGLISH BALLET THEATRE
COMPANY NUMBER: 7232736
BALANCE SHEET
AS AT 31 DECEMBER 2021
| 31 December | 31 | December | |||
|---|---|---|---|---|---|
| Notes | 2021 | 2020 | |||
| £ | £ | £ | £ | ||
| CURRENT ASSETS | |||||
| Debtors | 6 | 5,356 | 190 | ||
| Cash atbank and in hand | 217,219 | 252,311 | |||
| 222,575 | 252,501 | ||||
| CURRENT LIABILITIES | |||||
| Creditors: amounts falling due | |||||
| within oneyear | 7 | (17,729) | (19,400) | ||
| NETCURRENTASSETS | 204,846 | 233,101 | |||
| TOTALASSETS | £204,846 | £233,101 | |||
| Representedby: | |||||
| FUNDS | |||||
| Unrestricted: | |||||
| General | 173,905 | 145,941 | |||
| Designated | 9 | - | 50,000 | ||
| Restricted | 8 | 30,941 | 37,160 | ||
| £204,846 | £233,101 |
For the year ended 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Trustees’ responsibilities:
The members have not required the charitable company to obtain an audit of its accounts for the period in question in accordance with section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for complying with the requirements of the Companies Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies’ regime and in accordance with FRS102 SORP.
Approved by the Trustees on lh .. May 2022 and signed on their behalf by
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aren Pilkington-Miksa
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Alastair Macpherson
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The accompanying notes form part of these accounts.
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THE NEW ENGLISH BALLET THEATRE
CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2021
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|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|31|December|31|December|
|2021|2020|
|£|£|
|Net movement|in|funds|(as|per|the|Statement of Financial|Activities)|(28,255)|46,841|
|Adjustments|for|
|(Increase)/decrease|in|debtors|(5,166)|1,672|
|(Decrease)/increase|in|creditors|(1,671)|16,813|
|Net|cash|provided|by|operating|activities &|
|Change|in|cash|and|cash|equivalents|in|year|(35,092)|65,326|
|Cash and|cash|equivalents|at|1|January|2021|252,311|186,985|
|Cash and|cash|equivalents|at 31|December 2021|£217,219|£252,311|
|Analysis|of cash|and|cash|equivalents|
|Cash|at bank|and|in hand|£217,219|£252,311|
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THE NEW ENGLISH BALLET THEATRE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
ACCOUNTING POLICIES
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
Basis of preparation
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) (Second Edition effective 1 January 2019) - (Charities SORP (FRS 102) and the Companies Act 2006.
The New English Ballet Theatre 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).
Assessment of use of Going Concern Assumption
The Trustees have assessed whether the use of the going concern assumption is appropriate in preparing these accounts, including giving due consideration to the impact of the Covid-19 pandemic on the charity’s operations. The Trustees have made this assessment in respect of a period of one year from the date of approval of these accounts. The Trustees of the charity have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The Trustees are of the opinion that the charity will have sufficient resources to meet its liabilities as they fall due.
Income
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.
Income from government and other grants is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
Income received in advance of a theatrical performance or provision of other specified service it is deferred until the criteria for income recognition are met.
Donated services and facilities
Donated professional services and donated 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. In accordance with the Charities SORP (FRS 102), the general volunteer time of the Friends is not recognised and refer to the trustees’ annual report for more information about their contribution.
On receipt, donated professional services and donated 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.
Interest receivable
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.
Fund accounting
Unrestricted funds are available to spend on activities that further any of the purposes of charity. Designated funds 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 are donations which the donor has specified are to be solely used for particular areas of the charity’s work or for specific artistic projects being undertaken by the charity.
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THE NEW ENGLISH BALLET THEATRE
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 DECEMBER 2021
ACCOUNTING POLICIES (continued)
Expenditure
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:
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e Costs of raising funds comprise the costs associated with attracting income and the costs of trading for fundraising purposes
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e Expenditure on charitable activities includes the costs of performances, exhibitions and other educational activities undertaken to further the purposes of the charity and their associated support costs.
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e Other expenditure represents those items not falling into any other heading.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
Allocation of support costs
Support costs relate to those functions that assist the work of the charity but do not directly relate to particular charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the charity’s artistic programmes and activities.
These costs are allocated between cost of raising funds and expenditure on charitable activities on the basis of estimated usage.
Pension Contributions
The charity makes contributions into a defined contribution pension scheme for staff. Contributions are shown in the Statement of Financial Activities as they are paid.
Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash at bank and in hand
Cash at bank and cash 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.
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.
Financial instruments
The charity only has financial assets and financial liabilities ofa kind that qualify as basic financial instruments. Basic financial | instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
Legal status of the charity
The charity is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.
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THE NEW ENGLISH BALLET THEATRE
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 DECEMBER 2021
1. DONATIONS, LEGACIES AND GRANTS
| DONATIONS, LEGACIESLEGACIES AND GRANTSGRANTS | ||||
|---|---|---|---|---|
| 9 months to | ||||
| 31 December | 31 December | |||
| 2021 | 2020 | |||
| Unrestricted | Restricted | Total | Total | |
| £ | £ | £ | £ | |
| Trusts& Foundations | 37,000 | 29,281 | 66,281 | 87,500 |
| Special Events | - | - | - | 100 |
| Other charitable donations (including Gift Aid) | 59,098 | - | 59,098 | 4,287 |
| Government grants—Furlough/Job Retention | ||||
| Scheme | 20,001 | - | 20,001 | 12,052 |
| £116,099 | £29,281 | £145,380 | £103,939 | |
| Breakdown: | ||||
| Period ended 31 December2020 | £71,439 | £32,500 | £103,939 | |
| INCOMEFROMCHARITABLE ACTIVITIES | ||||
| 31 December | 31 December | |||
| 2021 | 2020 | |||
| Unrestricted | Restricted | Total | Total | |
| £ | £ | £ | £ | |
| Performance fees | 2,560 | - | 2,560 | 1,910 |
| Special Events - Ticket/Seat sales | - | - | - | 130 |
| Other | - | - | - | 2,919 |
| Theatre Tax Relief | 19,691 | - | 19,691 | 26,381 |
| £22,251 | £- | £22,251 | £31,340 | |
| Breakdown:periodended31December2020: | £29,430 | £1,910 | £31,340 |
- INCOME FROM CHARITABLE ACTIVITIES
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THE NEW ENGLISH BALLET THEATRE
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 DECEMBER 2021
3. ANALYSIS OF EXPENDITURE
| 9 months to | ||||
|---|---|---|---|---|
| 31 December | 31 December | |||
| Unrestricted | Restricted | 2021 | 2020 | |
| £ | £ | £ | £ | |
| Raising funds: | ||||
| Fundraising costs | 3,929 | - | 3,929 | 40 |
| Galaand Special Events costs | 157 | - | 157 | - |
| Total—Raising funds | 4,086 | - | 4,086 | 40 |
| Charitable activities: | ||||
| Promotion | 9,640 | - | 9,640 | 7,618 |
| Production Costs | 28,142 | 11,135 | 39,277 | 5,638 |
| Artists’ fees | 106,409 | 24,365 | 130,774 | 68,992 |
| Outreach& Performance | 2,791 | - | 2,791 | - |
| Administration and support costs | 8,518 | - | 8,518 | 4,650 |
| Governance costs | 800 | - | 800 | 1,500 |
| Total—Charitable activities | 156,300 | 35,500 | 191,800 | 88,398 |
| Total expenditure fortheyear | £160,386 | £35,500 | £195,886 | £88,438 |
| Totalexpenditure-31December2020 | £74,438 | £14,000 | £88,438 |
Included in Artists’ fees above are staff costs of £76,238 (2020: £49,793).
| 9 months to | ||
|---|---|---|
| 31 December | 31 December | |
| 2021 | 2020 | |
| Included in expenditure are: | £ | £ |
| Fees paid to Independent Examiner: | ||
| Independent Examination - included inGovernance costs | 950 | 900 |
| Accountancy services - included in Support costs | 350 | 350 |
| £1,300 | £1,250 | |
| STAFFCOSTS ANDNUMBERS | ||
| 9 months to | ||
| 31 December | 31 December | |
| 2021 | 2020 | |
| Total | Total | |
| £ | £ | |
| Staffcosts during theyearwere as follows: | ||
| Wages and salaries | 40,000 | 24,667 |
| Social security costs | 4,308 | 2,495 |
| Otherpension costs | 1,013 | 600 |
| 45,321 | 27,762 | |
| Consultants | 30,917 | 22,031 |
| £76,238 | £49,793 |
- STAFF COSTS AND NUMBERS
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THE NEW ENGLISH BALLET THEATRE NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2021
- STAFF COSTS AND NUMBERS (CONTINUED)
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|The|average number of employees|in|the year was:|31|December|31|December|
|2021|2020|
|No.|No.|
|Artistic|director|1|1|
|1|I|
|No|(2020:|Nil)|employee|received emoluments|exceeding|£60,000|in|the year.|
|The|key|management|personnel|of the|charity,|in|charge|of directing,|controlling|and|operating|the|charity,|on|a|day-|
|to-day|basis,|comprise|the|trustees,|in|particular,|the|Artistic|Director.|Apart|from|the|salary|of the|Artistic|Director|
|(see|Note|5|below),|the|trustees|receive|no|remuneration.|
|TRUSTEE|REMUNERATION & &|RELATED|PARTY TRANSACTIONS TRANSACTIONS|
|In|accordance|with|the Memorandum &|Articles|of Association,|the|Trustees|are|allowed|to|enter|into|a|contract|with|
|the|charity|for|the|supply of professional|services|on|an|arms-length|basis:|
|9|months|to|
|31|December|31|December|
|2021|2020|
|£|£|
|Karen|Pilkington-Miksa|
|-|Remuneration|as|Artistic|Director|£45,321|£27,762|
|Jan|Pilkington-Miksa|(spouse ofa|trustee)|
|-|Fees paid|for administrative|work|£8,197|£-|
|Margaret Andraos|(Trustee|from November 2020)|
|-|Fees|paid|for|administrative work|£187|£2,379|
|Julian|Flitter|is|a partner|at Goodman|Jones|LLP,|Chartered|accountants|
|For payroll|and|other professional|services|£1,164|£570|
|No|expenses|incurred|on|behalf of the|charity|were|reimbursed|to|any|trustee|for|
|phone,|travel and|subsistence|(31|December|2020:|none)|&|£-|
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- TRUSTEE REMUNERATION & & RELATED PARTY TRANSACTIONS TRANSACTIONS
All of the above are included in Administration and Support costs except where legal fees have been incurred which are included in Governance Costs.
Donations from trustees and their related parties in the year was £2,900 (2020: £1,700).
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|||||||
|---|---|---|---|---|---|
|6.|DEBTORS|31|December|31|December|
|2021|2020|
|£|£|
|Recoverable VAT|£5,356|£190|
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14
THE NEW ENGLISH BALLET THEATRE
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2021
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7. CREDITORS
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| CREDITORS | 31 December | 31 December |
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Othertaxes and Social Security | 892 | 910 |
| Accruals and deferred income | 16,837 | 18,490 |
| £17,729 | £19,400 |
Creditors include deferred income of £15,340 (2020: £15,340) being ticket sales for events which were postponed due to the Covid-19 pandemic. Plans are in place to hold the events in May 2022.
- RESTRICTED FUNDS
| Year ended 31 December 2021 | Balance at | Balance at | ||
|---|---|---|---|---|
| startofyear | Income | Expenditure | end ofyear | |
| £ | £ | £ | £ | |
| Professional DancerDevelopment Funds | 12,500 | - | (12,500) | - |
| Funding forperformances | 22,750 | 29,281 | (23,000) | 29,031 |
| ROH Trailblazer Outreach Fund | 1,910 | - | - | 1,910 |
| £37,160 | £29,281 | £(35,500) | £30,941 |
The Professional Dancer Development Programme (PDDP) Funds consists of grants to nurture our young professional dancers by providing lectures in nutrition, psychology for performance, injury prevention and career development as well as extra training focusing on technique virtuosity and pas-de-deux work.
The Funding for Performances Funds consists of grants to support expenses related to the production of the new ballet, including choreographer, musicians and designers’ fees, making and materials of sets, props and costumes, and crew costs.
The ROH Trailblazer Outreach Fund is a fund established by the Royal Opera Company especially for the support of outreach activities.
The Artists’ Relief Fund represents income from a number of individual donors and which has all been expended on providing needed financial support to dancers that the company had intended to employ during the year
| Period ended |
31 | December | 2020 | Balance at | |||
|---|---|---|---|---|---|---|---|
| (comparative) | startof period | Balance at | |||||
| (1 April2020) | Income | Expenditure | end ofperiod | ||||
| £ | £ | £ | £ | ||||
| Professional DancerDevelopment | Development Funds | 7,500 | 5,000 | - | 12,500 | ||
| Funding forperformances | 9,250 | 13,500 | - | 22,750 | |||
| Artists’ ReliefFund | - | 14,000 | (14,000) | - | |||
| ROH Trailblazer Outreach Fund | - | 1,910 | - | 1,910 | |||
| £16,750 | £34,410 | £(14,000) | £37,160 |
The above funds in the year ended 31 December 2021 and in the prior period were held entirely in cash at the year-end.
15
THE NEW ENGLISH BALLET THEATRE
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 DECEMBER 2021
9. DESIGNATED FUNDS
The designated fund of £50,000 relates to a donation from the Maria Bjormson Memorial Fund which the trustees designated towards 2021 productions and have been utilised accordingly.
- ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Unrestricted | Funds: | Restricted | ||
|---|---|---|---|---|
| General | Designated | Funds | Total | |
| £ | £ | £ | £ | |
| Current assets | 191,634 | - | 30,941 | 222,575 |
| Current liabilities | (17,729) | - | - | (17,729) |
| £173,905 | £- | £30,941 | £204,846 | |
| 31 December 2020 (comparative) | Unrestricted | Funds: | Restricted | |
| General | Designated | Funds | Total | |
| £ | £ | £ | £ | |
| Current assets | 165,341 | 50,000 | 37,160 | 252,501 |
| Current liabilities | (19,400) | - | - | (19,400) |
| £145,941 | £50,000 | £37,160 | £233,101 | |
| 11. COMPARATIVE STATEMENTOFFINANCIALACTIVITIES—PRIORPERIOD |
PERIOD | |||
| 9 months to | ||||
| Unrestricted | Restricted | 31 December2020 | ||
| Total | ||||
| £ | £ | £ | ||
| INCOME from: | ||||
| Donations, legacies andgrants | 71,439 | 32,500 | 103,939 | |
| Charitable activities | 29,430 | 1,910 | 31,340 | |
| Total income | 100,869 | 34,410 | 135,279 | |
| EXPENDITURE on: | ||||
| Raising funds | 40 | - | 40 | |
| Charitable activities | 74,398 | 14,000 | 88,398 | |
| Total expenditure | 74,438 | 14,000 | 88,438 | |
| Net income and | ||||
| Net Movement in Funds | 26,431 | 20,410 | 46,841 | |
| Fundbalances brought forward | ||||
| at 1 April 2020 | 169,510 | 16,750 | 186,260 | |
| Fund balances carried forward | -_ | ———- | ———_— | |
| at31December2020 | £195,941 | £37,160 | £233,101 |
16