CHARITY COMMISSION Ballet Lorent Limited cornpanylimitqd by guarantBo Annual Report and Financlal Statements 31 March 2024 Cgmpany regl$tr•tlon number: 05093450 Charlty rgglstrat]on nurnbor.. 1162921 dOdd&co
Ballet Lorent Limited Cont•nts R•f•r•ne• and Admlnistrative DgtaiLB Trust8es' rep(*l Trustees. responsibiSbes in relalb)n to tho flnancial statements Independenlexaminerfs report ststement of financia18¢bvitses Baknce sheet Cash flow statement 10 Notes to tre finaneial $latements
Ballet Lor•nt Limiled R8foronce and Administrative Details Charlty nam• Ballet Lor8nt Limrtod Charity r•gistralion nUMr 1162921 Ct>mp•nyi8gi$lr*tlon number 05093450 Prfnclpal offic Jtrhn Martey Cent Mu3¢0tt Grove NEWCASTLE UPON TYNE NE156 R•olst•r¢d 0ffi¢o John Marfey Centre muSr>tt Grova NEWCASTLE UPON TYNE NE15 6rr Tru8t••• O C Capps J P McK•nna (Resign8d 14 Juna 20231 (R&sign8d 12 June 20241 P R W Jackson P A F Johnston ARCft)ft J Archer N S Campbell M S Dunphy IAppolnt8d 16 June 20231 Socr•tarf•$ C GrirnwC IRospJn8d 9 January 20241 K A Lloyd (Appointod 9 January 20241 Accountant Oo(td & Co Limited FIFTEEN Rosehill Montgorngry Way Rosehlll Estato CARLISLE CA1 2RW Pagg 1
Ball•t LrK•nt Llmlted Trustoos. Roport for the Year Endgd 31 March 2024 The flnanu81 statèmènts have been prepared in axordance with lh& accounting polia•5 set out in notes to the accounts and cornpty wth the charity's govemiTrJ document, the Ch8ri1ies Act 2011, as 8m$ndod by th8 Chanb88 knt 2022, and Accounting and Reporting by Charitles.. Staiem8nt of Recommended Pr8Ctice applicable to thaTe$ preparing thelr accounts in accordance with the Flnanciol Reporting Stsndard appucabkn in the UK and Republlc of Ireland. Organlsatlon Strucre and governing docum•nt The company was Incorporated on S Api15 2004 and is governed by its Memorandurn and Articles ofAsswalion. The company is limitgd by guarantee and has no Sha capilal. The wrnpany was gISter8d as a charity vmth the Cttarity Commi$sion on 30 JU 2015 and the registered (*anty numbgr ia 1162921. Thè Board of Tru$t8es administets the charity at quarterty meetings wth A quorurn of atlgast Ihr66 Irust88s and rnay bo h8ld in petson or by suitsble elodroni¢ m8ans. Recrultsn•n¢, knduction and Tralnlng of trustees The Board ol Trustees is reviewed on a three y88r cycle or when a truslee resigns. The Board requirès a range of skills, and thls will be maintaingd with th8 Introducon ol new tnJste8s. New trustees are often h•ad-hunted and oftèn put ttsnward by the Artistic Directcr. Exèeubva Director or th8 Chalr. Proposod now Iru$tèes arè appiovgd by all gxisling trusl8os kAlong an initsal meeting lh8 Chair. New tru$t88s ar8 provided with th• Mernorandum and Article8 01 As8OC4abon. most rent 3 year bu&noss plan, minutes and board pap&rs from the previous 3 meebngs aThY the most recent manag9rn8nt aceounts. Each trust8e is asked to read Charity Commission guidan¢e on acting as trustee at". ..JIwwN. ancelcharil rust8e-what54nvo and lh8 essentialtruslee, at- Major rl$k statsrnent Thè trustaag regubrly revw4 the rnalor rfsks to whfjch the charity is expowl. Systems pw8dutes ar8 In place io) mitigate any risks indudiThJ insuranc9$, risk asse55mènts eArriad out and health and salèty policies in place. Risk mtnagement is idenffied in the charity8 bu8ines5 pkn. whkh is reviewed annually. Oweetlvès and ActivilieB The objeclwes ol Ihe charty are to promote, maintain. irnprove and advancg public educatbn. partlcularty by prorrK)ting and encouraging the arts of conternpDrary and classk81 balleL d8ncL and other perforrning arts. To cffjate high quality and partiapatory eontemporary dae theatrè productions for ¢hiklr8n. families and adults, th a frKus on devekjplng new adn$ in areas ol least engag8m8nl. . To ddiver aducation and participation programmes for childran, young peopl? and adults. including the eld8rty. striving lo b8 inclusive and a$s1b1& for 811, wilh 8 lo¢u8 on supporting neurcMJiver5ity. • To cJJNvate a p05the envlrtsnrnentfor dance in the Ncllh E&st of England by retslnlng danc4 exp0rtIs0 and skill by omplon9 dancers with a wid8 agè rang8 from 20s up to eos. In sattlng th8 obl8CttV8s of th8 chartty, th• trusto•s havo paid du8 ragard to Ihe Charity Commisslon guldance on public berbefit. Tourlno & New rnld4argo s¢al• Productlong W8 comFleted our UK tourlryJ prwr8mrne of ow retrUted prfyJuctl¢M R8punzsI, and Rapunzel After Dartr, a W ver¢)Th for adults 8ged 16yrs+ Rapunzel and Rapunzel After DÈrk was performed by 7 balklLORENT dancar5', 2 wstgraduatg student danceTS', and were joined by up io 4 gu8St regiorbal dan artists 8nd ih&lr preh0o1 th1ren, and up to 17 children aged 7-14 ye8r5 fomied a ¢ommunlty chorus In each that we tCjred. BetrNogn 5 April 23 and 10 February 24 we toured to a total of 5 venues, vAth 10 parformances and 3.071 aUdIenS. Pap2
Ballet Lorent Llmited Tru$toos' Report for tho Yr Endod 31 March 2024 We developed and toured t vetsions cl Th6 Vdv&ts•n Rabblt10-3yrs and 4yrs+) inspir0d by the story by Margery Williams, r8told by Ben Cromptort. This pr¢du¢tiort involvèd 4 dane&rs 8fKI 2 poslgr8du8te students. was ¢reated for srnall scale touring. The production ioured to Alnwck PYhOuse, Maltings Berwid( and Queens H811 Hexham between 2 March and 24 March 2024. to a total of 864 audi8nces. Dlgttal Wa contsnuad Crèating (xnlgnl for our Jigttsl rlafforn balletLORENf 81 Hon7e. showcasing our broad range of ffilrned work. We 18unched an interacb"v& edUb"On portal for Learrring aThJ Parb"cipation prograrnm8S C811ed CREATE. We created a fikned version ol Rapunz81 Affsr Dath. gntiued RapuntylR. Thi$ was complgted by end of March for di8tribution on digital plaifomi M8rqu88 TV. Wealso released a behind thg ¥cones fikn of the young Darlington ¢¢)mrnunty c8St in Rapunzel. We produced iwo films wlth our The Youth Academy The BegAnning- gxpbring themes of celebrating ourselves and each other. being loud about vtho you ara and enjoying dancinglnKJving lo music in your own uniqu• way and B fOrB8lonng. a journey to explore the concept of bek)nying. The 8ecomlng premiered at Tyneslde Cthema In June 23. t)efore Its Onl1 release. Tl)8 Lost Happy ErtdAngs and Rump8lst1ltsk film Continued to 3tre8m throu9h Marqu88 TV. a 9lobal on dèmand str•aming SeNiea for eribcalty acclaimed dance. opera. and theatre perfomi8n¢gs. A continuation of a 3 yaar agre8mgnt from December 2020. Th8 Rump81sbltskln fllrn Is In Its flnal year of a 4yr agreement120201 th Sky Arts. • BrftL8h t48mnd TV thann81 dedicated to the best arts programming across all gènras 24 h(wJrs a day. Leamrng and Parti¢iF)ation Our arning and partlclpation prDgramme give5 moaningful culiuRI opwtunibe5 to chik1n. young peoe. and older people who are Ivlng In wverty. maryina115ed, or living with socioleconornlc underprlvllEg8. Frorn our home in the west of NewcAStlg engage with people locally offer9 both weekty community classes. and specific proi8cts throughDUt the year. Neurodlvergenc• As a cotnpany th Sv8d experfence of neurodlverslty we a commffted to provlding safe and inthsive spaces nd supporting people wlh neurodlvetse conditions. We eonverted one of our rooms into a sensory $pace and we have en$ud that staff stay updat8d wth supporling neUdiVerS b8ha¥iours wth r8guLqr tralnln9. Rapunz•l Guest Professional and Young Communlty Casts As our natKinal tour of Rapun281 and Rapunzgl After Dark continued, our uniqug national cornmunity cast prcgramme saw 150 yèar 3&4 thildr8n from Doncasier and Derby. particApa18 in cr8ab'v8 dance workshops in their schoob. Across thè year, 51 thiklr8n perfomied atongslde our Profesonal dancers In thelr k)cal theatre5 in L88ds. Darlington. DonSter, Durham and Dey. We are proud that children with no pViouS daneè axparigncg have had th¢8 chance lo r8alis& their ewtiva abilrti&s. and to rf¢M in front of audignw. tiiend$ 8nd farnilies for the very fivsttlme. Our cornrriltmfnt to art15ts wth caring pOnsIbIlitieS continued, as we delivered a programme to support Ortlsts who ara ngw parents to retum to paid perfomanee work. 28 parents ènd their pre-sthool thihjren have rehearsed and perfom)ed vlth the company in both versIons of Rapunzel this year. Youth Academy Junlors and S8nlor8 We continue to recognSse unexplJred talont Ihrough our 18aming and participation prcgrarnrnes and Invite chldr8n17-14yrsl to join our Youth Academy wh8re we delSver ¢onslstent and hlgh qUaty trainin9 In movement 8nd cr88tiMty. These S885iDn8 take place weekjy at our studlo. We were also suc$s1U1 In fijndmising tD SUPPOrt the costs of sgttsng up an older youth acadarny, Cr•ativ& Studio for 1>18yr okjs, which oxtands our provi510n to include design. fikn and mu&c rna"ng. Page 3
Ballet Lornnt Llmited Trustges. Report forthe Year EThd 31 Mar¢h 2024 Community wotsh4w and wohcts Having a studio in the w98t of Newcaslle has enabled th wmpany to grow our ongagem?nl pro9rammas and we now run fvo regular grpS a week. This indudes yoga. da$ses lor babies aThJ young childr9n 1th parents & ¢8r$, an ohjer persons dance class, adult ballet and our knitting group. The Movers, Knitters and Shaker5 project continues to be vèry popular, attra¢ting over 15 regular 0er peopb (aged b8tw&an 60 and 85 yrsl lo attend WklY $9$51on$ where they knit props, help 1h costumes and rnova forw8lln8S8. Cr•atlvo rgsldonclgs We are proud to delver an extenslve programme of activty wlth schocls across the region, introducing chldren tt) dance theatr8 throu9h partlclpation and as audn¢e members. This yoarfs programme has buitt on partnrships wtth Sch18 dirgctty neighbouring our Seotswood bas8 and has seen us engage with schools across Newcastle ftrrthe first time as we continue to widen our leamiw and participation opportunitios. 553 puplls aged 7-10 YTS from seven prfmary schools across the ¢ty P8rtkipatod in cr•ativo dan workshops in Iheir schotsb. th•md arouncl our fairytab shows, afyl The Vdveieen Rabbit. 112 year 7-11 pupi15 at Colllngwts)d School and Media Arts Cdleg9, Morpeth partpated In 8 day of career dev8lopm8nt including Ir8 d8monstralons, talks, and uèalivo danc8 $8sslons. Wlth fundlng trom NeKastb CuNur8 kniestrnent fund, we were dalfightod to offer 83 chlllren aged e4yrs from Irnl schocAs St Bedè's RC and Broadw0 primaries. along wrth 20 thiklren aged 0.3ys from 8rbdgewater Nursery the opportunity to 8tteThJ a Iree performance ol Thè Velveteen Rabbit premre shows at John Martey Centre. Prof•sslonal D•v•bpm•nt 2 postgraduate dane• $tudenis eomfflenced their 35 week work-based placement as part ol their MA in Contemporary Dance Progrdrnme at thg Northpm School ol Contemporary Dance and took part in the t(yJr or Rapunz&l and Rapunzel After Dwk and Thè Velveteen Ra11. 6 students from sclwb and ¢olle90$ atossthe reg'on have und?rt8k6n work placements And we oldwered our annu81 wè8kbng movement rests8ncy with Newcast Theatre Royafs 1yr 8¢tor training programm8, Project A. Dorlln9ton Engagement Programme We have wntinu•d to intsract wilh CAynmunities irt 08rfingion as part of our missOn to offer dance an(1 ¢tiva otporbjnfjbes In the ACE prlortty area. Ovor the year, we delivered Worf(S)ps at each of four Darltwn Prirnary Schools for 480 year 1 chlldrèn based on The Velveteen Rabbrt, and hav8 deliv8r8d POPryUP 510ry tlmes at CocJ(erton Library and Hulbbabo. wth characters from th9 Show sThing y(NJng chilln in their k)cal communities. Summary of maln achlevements durlng th• yaar We toursd 3 pw¢)JuctvJn& Rawnzel. Rapunzel After Da and Thg vefv$tn Rabbit. 3,935 ticketssold 1,663 individual chikjren. youn9 and Adults partiapated in danco activity wilh baIlLORENT in 2023Q4 24 thiklren and young peopk completed Arts Avrard Dlscover, Explc*e And Bronze through their paitiupation in our proJr8mrnes 51 children aged 8-14yY8. 28 pre-Sd)0 children along with their panIS joined our professh?nal casts On stage in Rapunzel In Darllngton, Donca5tEr, Derby. Durham and Leeds theatres W9 had 621 partiupant5 enjoy our classes at John Marfey Centre 1.199 children twk part In creative dance w9rks1ps In their s¢hoob or ¢ommunltyacross th& UK Page 4
Ballet Lorent LÉmited Truslees. Report for the Year Ended 31 March 2024 81 professional artists and students engaged in actiwty to devebp theirartistic praetiCOS 8 young peopk undertookwork placement8 15 vOni60r& genorously contrfbuted 80 hou of their tlrno lo support ouracttviti9$ We retain8d ttlghly 8kn"ld dance expertise the North Ea6t through reguEar ompbymnt for 8 maiure dancers aged 3640. Futuf• Plans Wa wlll craate and pr8ml8ra Srv)w Whlto and Snow Whlt&Th& Sacrfficé at North8m Stagè, Nèw¢Ath Wg wll tour Th¢ Ve81¢en R8bbil to 3 moro vgnugs in Spring and rework it to tour one version in Autumn. We will cr8at8 a fikn whith showcas8s our work with old8r dancers. We aim to deliver a Capital project with partners at John Marby Cenlre, èmbodding Incsiv[ aTh access iThio the buibjing and enwronmental sustsinability ihrough a venu& d8rbon1$at10n projecL Finan¢io1 R•vi b8lletLORENT h8s secur9d funding up to 31st March 2026 as a NatiC81 Portfolo Organlsatlon through Arts CnCil of EngLqnd. balbtLORENT has contir¢ued lo r8ceiv8 grants from Trusls & Founolations wth a focus on epplthions for th8 Community Cast Participation and Performan¢e'. Youth Ade[Y and incr8ased 8ngagetnent in areas of socloconomic deprlvafjon In Newcast. Grants were recelved thtuugh thg Comrnunlty Foundation, John Ell&rman Foundation, Threa Monki8s, The AsNey Foundation, John Thaw Foundation. Newby Trust. Hay8 Trdvgt. Gyyling Trust. Newtte.CitY Council Youlh Fund. Sir Jamgs R8¢kn11. NAOFAS, 8ritford Bridge TrusL Gosling Foundation. Hadiian Trust. Didymus. The JThcey Tru8t and ZEDRA Trust. Reserle's polley At tha end of Ihe the charity had reserves of £419,546, of whlch £51,601 ora rtriCted. Frea reserves (unrestricted less fixed assets and designated fundsl total £295,191. It ha5 been ayreed that a rninirnum 18vel of reseNes requlred Is £105,000. whlch Is equlv8lent to 2 months opèrdUrJ c08ts. 11 funding 18V818 droppgd gnrflcany. thi8 arnount woull albw the Grity to gpgrate whitst furlher fvnding was obtsined or a plan w88 madeforthe ordety cb)sure ol projects. The Board has agr•ad to dasigftat• £100,000 for the following ar88s of business in 24125. Firslty. rgSgrvg& for L%pIt51 and r8P81rs fund to support our 8mbitlon to ddiv8r 8 C8pIt81 project at our new hom8 at the John Mamey Centre and to allow Tor any unexpeded Pair msts Ihal may occur. Secondty, se$ for contingenty. which Includes arstIC prograrnmlng and a reW of cosl ol Ilvlng Increasè lor staff aThl freebnc8r¥. Small company provl8lons Thls rapjrt has been prepared in accordanc tha sm8Jl eompanies r8gime der Ihe CDmpanlesAct 2(Ml6. Approved by the Board on S Deeember2024 and signed C rts beh81f by.. KAUoyd Saeretary Pag& S
Ballot Lorent Limited Trustees, Rosponslbllltles in rnlatlon to tho Flnanclal Stalements Tha trustèas Iwho are also directors d Balbt Lorent Limited for the purposes of c¢Ynpotsy w) are responsibl• prgparing th6 Trustees, Annu81 Report and the finÈnci81 statements in accordance wilh 8pplicabl8 law and tho Financial Reporting Standard 102 - The Flnartclal Reporting Stawwjard applc8ble In the UK and RepublK of Ireland.. Company law requir88 th• trustees to prepar• ffinandal statemgnts for èach financial yoar whith gNe a truo and falr vlèw of the siale of aff&irs of the tharilabb company and ol the incoming resources and appliCatn of r8sources. includlng incomo 8nd expenditure, ol the chafltable company for that pernod. In preparing ihEse finandal statem6nts, the trust995 ar• required to.. sglecl suitabb accounting policiès and then appty Ihgm eonsiStenUy'. obse8 thè m&thots and principles in the Ch8ri1i95 SORP-, make ludgem8nts and estimate5 Ihat are reasonable and prudent. stat8 whether applicable UK accounfjng standards havE en folk>wed, subject to any materlal departures disclosed and expkin8d in the financial ststernents,. and prepare th6 finanryal slat&ments on th8 going concem basis u#s8 il is inapprowiate to presume that thg charitable MpanY contlnue in busine38. The twstee5 are résponsible for ke8ping proper accounting rgeards thal discbse th rea59n0b accuraoy at any time the finanGial po*tK)n of the ch8riiable Company and enatAè thèm to ènsure that the fi'naneial statements comply wlth the Companies Acl 2006. They are a150 ffjsponslblo for 5afgguarding Ihe assets of the charitsb cornpany and hence for taking reasonab st8ps forlhe prevents.on and detecth?n of tr8ud and other iegUrIes. Pag• 6
Indgpendent Examln•rfs Report to the Trustee8 of Ballot Lorent Limtled I repjrt on the accounts of the cornpaty for the yaar ondad 31 Mard12024, which aré $8t oul on pagas 8 to 21. Re8PeCtl¥e responslbllltla8 of trust8 and •xamlner Th8 Irustees (who are al80 the dlrectoTr of the companyflxthè purposès of Company lawl arb rèsponsib for lh$ preparation of the accounts. The trustees consider that an audit 15 not required for this year under sgdiTh) 144121 of the Charltlos Act 2011 Ilhe 2011 Act) and that an Ind8p8ndgnt exarnination is ne8ded. The L4)ariVs gross incomg oxe8adgd £250,000 and l arn qualified to undertake tho examinabon by belng a qU81ified rnernberof the Institute of Chart8red Accountants In England and Wales. H8vino satisfied my$etF that Ihe eharity 1$ not subj8Ct to audit vndor Part 16 of the Companies Act 2006 and is elblble for Independent examinaon, It Is my reswnslbllityto.. exarnlng tho accounts er sfjctlon 145 th• 2011 A¢t', follow the prCedureS Lgid down In tho Ganoral Diractlons gtsn by thè Charlty Commlsslon under $e¢iion 145 (51 Ibl of the 2011 Act: and state whether particular matters have come lo myattenth?n. Bash of Indopgndent gxamlnorf$ r•port My oxamlnadon Wds rrId out ITh awjrdance wlth the General Dlrectkjns glven by tl Chsrlty Comml88ion. An exanwnation inclLKles a review of the accounting records kept by the charity and a eomparigon of thg accounts presented with th058 r8cords. M aLs0 inrjudes conslderation ol any unusual Items or dlscknsures In the accounts. and seekJng 2xpl8nalons frorn you as trustees concerning any such matters. The procedures undertaken do not provide all ihe evklenc8 th81 be required in an audit and wns94U8ntly no opinion is giv8n as to whgthgr the accounts present a Inje and fair view, and tho raport k8 limited to Ih05e rnattèr9 Sot ¢)ut in tha statement below. Ind•p¢nd¢nt amIngl Statement In connoction wilh my axamination, no matter has o)rne to my attendon.. 11) 1¢h glv¥$ me rgasonabb cause to belleve that Sn any materfal respectthe wulrements.- io keep accounting r¢¢tsrd& in ac¢xJrdance wth $8Ction 386 of Ihè CcNmpanies Act2006: and to prepare aecouftts which awd wth tho accountirrfj rocords, rnpty wrth the accounting r8quirements of section 396 of the Cotnpanies Act 2006 and with the rnethad5 and principles of the Statement of Reo)mmended Practieè.. Accounting aKKI Reporting by Charit18S have not been mel.. or 121 to which. in my opinion, att6r¢ticn should b9 in order to n8bb a propor und¢rstsnding of the acec*Jnts to bè rèached. FIFTEEN Rosèhill Montgomery Way Rosohill Estate CARLISLE CA12RW ne on FCA d & Co Limited hartered Accountants 5 Docomber 2024 Pège 7
Ballet Lorent Llrnlted Statsment of Flnancial Activiiies Ilncludlng Income and Expendltur• Account) for the Yur Ended 31 March 2024 Unr•strfcted Restricted Total Funds Total Funds Fun+Js Funds 2024 2023 Nots Incom• and •ndowmonts froTh: Donations and leg8¢18S (her trading acbvities Charitable a¢tivilies Ott)er ineomo Total income and ndowm•nts 546,077 1.745 112,248 825 660,895 122.472 668,549 1,745 112248 825 783,387 552,917 2,383 153.666 1,514 710.460 122,472 Exponditur• ort: Roising funds Charitable 8ctiviti•s Total expendhure 12.258 653.820 666,078 12,258 748.949 761,207 12,820 682.338 695.158 9S.129 95.129 Net blor• transfers 15,1831 27,343 22.160 15.302 Transfers Transfers fundB S,530 15.530} Net movernents in furyJ5 347 21.813 22.160 15.302 Reconclllatlon •f funds Total funds broughl foThvard Total funds rried forward 367,598 367,945 29.788 51,601 397.386 419,546 382.084 397.386 AJI of thg Charws atVit*SderNe frorn conthnuing opgrgtions during the above pwd$. The notsg on pages 11 to 21 fonn an integral part ol these flnanrial st3temetrts. Pa9
Ballet L¢rent Limitsd Company rnglstratlon numbgr.. 05093450 Balanc• Shoot as at 31 March 2024 2024 2023 Noio Flxed assets TangitAe a55ets 72.754 46,428 Currènt a$s•l$ stocks and work in pKoress Debtors Cash al bank and in har¢ 1,053 154,237 222,460 377.750 12 73.766 293.737 367.503 ¢r•dltor•: Amounts falllng du• wlthln one year 13 120,7111 126,792) Not current as8¢ts 346,792 350.958 Nel 8$8ets 419,546 397.386 The funds of th• eharity: Rgstrl¢te¢l fvnds 51,601 29.788 UnNstrl¢t•d funds Unrestrtcted Incotne fund 367,94S 367,598 Totsl ch•rlty funds Fu the financialyear ended 31 March 2024. the rknrtywas ented to exemption from audit undertion 477 of tho Compani8sAct 20. 419.546 397.386 Th8 members hav8 not rgquirwj th• chadty to obtaln An 8u¢YIt of Its aecounts for th8 ar in qu•stlon In acrdance wlh section 476 oflha A¢t. Tho dirèetors acknowbdge thelr rnspons1b0tIs for o)mptying wlh tho roquSr8m8nts of the A¢1 b•ith respect to a¢counting records and the preparation of aceounts. These accounts have been prepared Sn accordance wlth thè pro810n$ 8ppII(*bb to COTnpanies subject tts the small companies wim8. Approved by the Board on 5 Dec8rnb¢r2024 and signed on it8 behalf by.. PAFJ Trustoo slon The notes on pag83 11 to 21 fcM an integral part of these financial stalemenls. Page 9
Ballet Lorent Limited Cash Flow Statsmant for the Year Ended 31 MarGh 2024 2024 2023 Net ¢a8h provided by {us8d by) open0 actlv5tles Nel Income for the perk)d Dopro¢iatlon charges Decrèasellincreasel kn slod(s Decreasellincre85el in debtors (De¢SeyIna$e #) ¢dItorS Z2,160 9,391 1,053 80.471 16,0811 106,994 15,302 1102.0701 12,479 170.512) Net cash providod by (used inl InYÈsllng acti¥itie* Purchase of prOrty, plant and equpment 135,7171 135.7171 127,2921 121,2921 Incroa¥glldo¢r•as•l in cash 71,277 197,804> The no¢e6 on page8 11 to 21 fom an Integral part of these flnanclal ststements. Page 10
Bollet Lorent Llffllted Nolos lo Iho Flnanclal Statwnonts for the Yoar Ended 31 March 2024 Accourtlng poll¢lg¥ Summary of slgnlncant aoUntIng poll¢les and k•y #ceounting eBtlmat•s Th8 princip81 aw)unUng Kx)knd8s applgd in the preparatlon of these finaal 5fatsments are sgt out bg10w. These polryes have been consistentty applied lo al the Yea presentsd, unlgs¥ oth?r&& 8tatsd. ststerngrf of ¢omplianco Th6 financial statomènts hav* baèn wèpar8d In aordanCe wSth Accounting and Reportitvj by Charttie5'. St8tementof Recommended Practice applicable to charities preparlng thelr aceourtis in 8c(x)rdance wth the Financial Reporbng Standard applicable in the UK and R8publK gf Irg18nd IFRS 1021 leffecbve 1 January 20191- ICharili8s SORP IFRS 10211. the Financial Reporting Standard appli¢8ble in the UK and Republic of Ireland IFRS 10218nd the Companlès Act 2008. Basls of prnparatlon The Charlab cornpany rneets the defflnltEon of a pU1C benafflt antity undgr FRS 102. A5S8t8 and Ilablllties a inthalty recognised at historical cost or tr8n$aclign ¥ae unl8ss oth8ThViS• Statsd in th• ravant a¢¢ounting pl41 notes. Golng t¢rn The charty has ConsIde whether the use ol the golng concem basis fix accounting is approprrate. To do thls, they have t>)nsldered whether there ar6 any mat8ri81 uncertalnt18s as to the Charftys abllty to continue as a gOg concern. The Iru5t8es pr8par8 detailed ¢ash flow yolectK)ns budget5 and ks è result of these r8vi8ws, Ih8 truste8s ar8 satisfied th8re are no material unc8rtainti8S 8LM)ut the chariws ability to ntlnug as a golng concem. FWKI aoun11n9 policy Uniestricted Ineome funds are general funds that are ovailable for uso at th• trustses. discration In furtheMc6of tho objaelives ol thg charity. R8Strtcted income funds are those donaled for use In a partJ"cular area or for $po¢lflo purposès. the use of whlch is re8lrict8d to ihat 8re8 or purpose. Furth8rd8tslb of each fund 8r8 dlscbs8d in noto 18. P•g¢11
Ballet Lorent Llmlt•d Notss to Ihe Financial Statsmonts forlho Year Ended 31 MarGh 2024 . conts.nued Incomg and endowmonts Donations are rocogrsed b%fien Ihg Charity has been notified in writing of both thè amount and setuement date. In the event that a dona.On B 5ubjeet to conthtions that require a bvgl of rtOm7ance by the Charity before Ihe Chanty 15 entitkd to the funds. the Income Is ¢jeferd and not recognised unNI eith8r those cOndiOnS are fijlly met, or fuffllmgnt of se conditions is wholly wilhSn the control of the Charlty and it 15 probabk tl%gt Ihese Conditions11 be fuifilkd in the reporbng perk)d. Legacy gifts arè recognised on a fAse by case basis fhOWing thg grant of Pfobate when tho administor/executOT for the estate has comrnunicat8d in irvj both the 8mount and sètttem6nt d818. In thè $vènt that the gift is in the fom ol an assot other than or a finanthal asset traded on a recognised siock gxchang•, recogni.On is subj8ctto the vtjue of the gifl being reliabty rnè8sud wlh 8 degre8 of r8asonabkg 8ccur8Cy and the to the assel havlng been transferred to the Charity. Incomg frotn Governm¢nl and othEr grants, eleT'CaPltaf grants or'r8v8nu8' grants, Is recogni5ed when ihe charity h85 eniitlement to the lund$, any psrfomiance COndttn$ attached to the grants have boon mèt. It is probablg thatthe inc¥)mewill be received and tho arnount can be measured relisbty and 15 not deferred. In¢ome from tax re¢kim$ Sre ¥)cbJded in the statsmont of financial activities at the same tsme as the gift to which they r81ata. Income from eharilable actiwtws inclu(lè$ Incon r6¢))gnlsed a8 earned186 tho rlaiod good8 Qr 8eNic8s are providodl undor contract. Expend¥lur• Liabilities 8re r8¢0gnised as soon as thero is a legal or nStru¢bv0 obb"gation o)mmitting Iha ¢)rity to th8 xpèndiiure. Al expgndilLtre 15 accounted ts on an ar815 ba&5 and has been classifigd under headin9S that aggregate all costs related to th6 category. Expènditure on ra18ing funds k8 tha cost ol irading for (undr8i$ing purposa$. Charitable expendlture cornprfse5 those costs Incurred by the chartty in Ihè de&very of Its aclivits85 and servlces for its b8n•fici8ri88. irldeS both ¢St$ that can be alkK8d directty to such actNttias and thos8 (osts of an indirect nature necessary to support thom. SupFK4rt $ts Support cosls includè c&ntral functions and have 8ft allocated to a¢tiiYty cost ¢•legS on a basis consi818nt the use of r8source5. for axatry16, a1kXarwj property costs by Ib)r ar@as, or per caplta, staff sts by Iha limo spent and other costs by their usage. Irrecovtrable VAT IrrecL*verable VAT 1$ Charged against the calegw of rèsources expended forvknich it was incurre(l. Taxatlon Thè Charty is considered io pass th• le$l$ sel out in Paragraph 1 Schadule 6 of Ihe Finaneè Act 2010 and Iherefore It rnee the dgfinib'on ol 8 chariiable company for VK wrpjration tax purposes. Accordingly, the Charity pot8ntially exempt.from tsxabon In respect of income or Gqpital gains reiVed wiihin categories covered by Chapter 3 Part 11 01 Ihe Cuporation Tax Ad 2010 or Saction 2S6 of the Tayalion ol Chargeable Gains Act 1992, tty the extenl that such Ino)me or gains are applied exchjsivety to charttab purpose5. Foxed a88ets IndivK1ual frxed assets costing £100 or mre are knthalty recorded at cost. Pag• 12
Ballot Lornnt Limitod Notss to tho Flnanclal Stat&m8nts for Ihe Yoar Ended 31 March 2024 .. wnhnugd DepreCIaon Deprèciation is prtsvKled on t8n9ible fixed ass8ts so as to write off tho cost or valuatlon, 10s8 any estimated residual value, ¢)ver their expected useful economic life as follows: Fixturg$, fittings and equipment 15% reducing bajanco basfjs Siock Sto¢k valuad at th8 lower ol cost and net lIsable value. after due regard for obsolete and sbw moving st(Kks. Net realsabb v8luo 18 based on selllng price bs5 antldpated costs to complotion and selllng &t8. Iterns donated lor resale or distributlon are not includ8d in th8 financial statements unb'l they ar8 sold or dlstributod. Trade Debtor• Tr8d8 d8blor5 are amounts due from customer5 for merchandise 501d or seNice5 perfOned in the ordinary ¢C4Jrs8 of bu$lne$$. Trade debtors are reeognlsed initially at the 1ransaction prlcè. Thfry are 8ub5equenlly measu1 at amortise(1 cost using th& &ffective interest method. bss provision for irnpairmenl. A pmvision for the impairrnent of Ir8d9 d9btors is established when Ih8re is objective evidence that the Charity wll not be able to colknlall amounts due according to thè originsl term$ of the rèeèiv8bles. Cash and Gash Equlvaknts Cash and cash equlvabnts comprk%e cash on hand and call dopo¥its, and othgr Short4e highly liquid I$tMentS that are readlly convarliblo to a knL)wn amounlof cash 8nd are subja¢t lo an in8ignifunt rfsk of change in Value. Uabllltlès Trade uedttors are d)ligations to pay for goc$ or sarwcès that have been acqulred In the onjinary course of business from SUpperS. Accounts payable ar8 classified a5 curr8nt liabilities If th8 Ch8Wity d088 not have an uncondltlonal rfgm. at the end of the rgporbng period. to defer settlement of the credrtor for at least ¥elve months after th• r8POrting dale. If there Is an unc(thditional rfght to defer settkmenl for at laagt twelve months 8ft8r th8 reporting dat6. they are presented as non-current liabilties. Trad8 creditors are r6cognls8d initially at the transactKJn pric8 and subsequentty measured at amort5sod e¢st using the effective interest mèthod. Oporatln91gase• L9058s in whiL* $ubslaniialty all the risks and rawards of own8fship ara rglainod by Iholgssor arè d8ssified as operats'ng leases. Rentsls Payab under operating lea88s ar8 charg8d in the Statern8nt of Finandal Actfvlties on a straight ffne basis ovarthè lease term. Penslon$ The ehanty 0rateS a deffned &)ntribution penslon sCheTh. Contrlbutlons are charsed in the ststemerrt of finan(ag1 adivi11gs as they becvme payable In accordance with the rukn of the schome. Pa9e13
Ballet Lorent Llmited Notes to the Flnancial Statements forlha Yr Ended 31 March 2024 .. LY)ntlnued Flnanclal Instrurnants Financial asseis and financial liabililie8 are recognised when thè charity becomes a party to thè ¢ontracbJal provisitirts of the instsument. Financ4al liabilitlèg and equity instruments a ck2ssified accordsng to the substance of the contradual atrangements entered Into. An equty Instrument Is any ntract thal evldence5 a residual interestln the assets of the Charfty after d8dL$Ct9 all of Sts labilities. l flnanaal 85sets and lab11.eS are initialty measured at tr8n3acticfi prlee (Incding trdnsaclon ¢Jistgl. except for thos8 finanual assots classified as at lair valuo through profit or loss, which a initialty rneasured at fair value Iwhieh is ntsmal the transaction price excluding trans8ctKJn costs), unless the arrangement n$iibJtès a finanong transaction. If an arrangement ¢stitUteS a financing Iransactv)n, the financial asset or finanei81 li8bilty Is mgasLJred at the present value ol lh8 fuwre paym6nts discount¢d al a markot rate of Interest for a sirnibr debt instwrTrent. Financial a$8e& and habiEtiès arn only offsel in the statement of financial position when. and only vthen there exists a galty eTrf0r¢eab right to set off the reccgnlsed amounts and the Charity Intends eher to setue on a basis, orto realise the asset and setue the liability slrnuttanetyjsty. FinAncaal assets are derewni88d whèn and only when al thg contra(lual rfghts to the cash fk)ws fnm the financial ass8t expir8 or are settled. bl the Charity transfers to another party substantialty all of th8 risks rewards ol ownership of the financial asset, or ¢1 the Charity. despbte having retained some. bul not all. 5wJnlflcant rfsks and r8wards of ownershlp. has transferred (x)rlJol of the asselto 8notherparty. Financial liabiltles e derecognised onty when the oblLqaJon spaclfied In the contrad Is dIar9$d. cancg118d cf 8xpir8S. Donatlons and 18gacl85 Unr88trieted Restrictod Total Funds Totsl Funds Fund$ Funds 2024 2023 Grants Trnsts and foundatio Arts Counal of ErylarbJ- public grants other granis 8.750 537.327 108.252 8,001 6.219 122,472 117,(J)2 545,328 6,219 668.549 61.500 480,136 11,281 552,917 546.077 01 the donations and kgaclgs incom8 in 2023. £427,544 relalad to unTeslrlcted fvnd$ and £125.373 rolatsd to re$iJlcledfunds. Oth•r tradlng activiti•6 Unr•strtcted Ro$trictod Total Fund¥ Total Funds Funds Fund8 2024 2023 Fundraising Gift aid incorne 1.660 85 1.745 1,680 85 1,745 2.254 2.363 l of the other tradlng activitN8s Incorr In 2023 lated to unr85trictvJ funds. Page 14
Ballel Lorent Llmlted Note6 to the Flnanclal Statements for the Yoar Ended 31 March 2024 conthued Charltsblo actmtles Unroltrlcted Re8tiict•d Total Funds Total Funds Funds Funds 2024 2023 istic programme Oigilal produdion incom8 Other eamed income Theatre tax raliaf e1vab 45.811 1.252 16,980 48.20S 112,248 45,811 1.252 16.980 48,205 112.248 54.090 1,268 10A28 87.880 153,666 Al of th& income from chadtsble advlles In 2023 related to unrestrfctedlunds. Oth•r Income Unrostricted R8strlcted Total Fundg Total Funds Funds Funds 2024 2023 Rental ine¢m& 82S 825 1.514 All of the othor Incorr in 2023 related to unrestred flmds. Page 15
Ballet Lorent Llmll•d Notes to the Financlal Statements for the Year Ended 31 March 2024 conllnued EXperltur• Fundrnlslng P•rfomianc •s Total 2024 Total 2023 Direct Gosts Openlng stock Performanc8 COSt5 Artist fee5 (Josing stod( Subcontractor c¥)sts Office rent Venue hlre and licences Trdvel and a(L0mMati0n Royalll8s payab 1,053 131,938 46,724 1,053 131.938 46,724 262 128,486 72,882 11,0531 14,137 23,260 13.251 31.507 2.948 285,680 12.258 1,146 40,476 12,928 44,494 1,867 280.626 13,404 40,476 12,928 44,494 1,867 292,884 12.258 pport ¢Ogtg Employment costs Business rat•5 Insurance Ropairs gnd maintenance TephOne PrinThg, postagè and statlonery sub5cripts.ons Sundry expenses m8rkets.ng Accountancy and professional Independent 8xatninerfs fee Legal and profesonal fee¥ Bank ¢hwge$ other interest payable Depreciai¥)n of fixtures, fittings and equipment Training and ccfflsuttan 373,336 373.336 1,664 3.713 21.724 2,610 1,949 4.897 12.937 12,156 7.457 450 13.907 48S 21 9.391 1.626 468,323 331,957 3,317 3,519 9.297 2.717 1.345 3.867 9,232 28.813 6,839 450 3.950 110 3,713 21.724 2.610 1,949 4,697 12,937 12.156 7,457 450 13.907 485 21 9,391 1,626 468,323 197 409.478 12,258 748,949 761,207 695,158 Crfthe expendrture in 2023, £515,484 related to unresiricied funds and £179.674 rekted to restriclod fvnd$. P•ag 16
Ballet Lorent LimSled Not•s to the Financial Statom•nls for th• Yoar Ended 31 March 2024 conllnu6d Governance 2024 2023 A¢¢ount8ncy fee? Independent examlnerfs fee Legal arKI professional fees 7.457 450 13.907 21,814 6,339 450 3.950 10,739 Trust9. rgmungration arml ¢xpgn$•ty NL> trustees recelved any remuneratknn or expEnses durlng the year. Ngt Incorng Net IncY)m¢ Is $t8ted after charglng.. 2024 2023 Deprecialion of laTrgible fixed asse 9,391 10 Employ•••' v•mungration The monthty average number of persons linduding senior man8pm•ntl errpbyed by the charity during the year was as follows.. 2024 2023 Charitsbb athvilK98 14 Thg &Jgr8gato payroll Costs of th8s8 por50ns wero a$ follows: 2024 2023 Wages and salaries lal securfty Other nSIon costs 338.403 27,187 7.746 313,336 301.097 24,463 6,397 331.957 .No emi4oye& r6c6ived emluments ol mr6 than £60,000 during tho year. Th8 key man8gemerrt personrEI cornprE5e the Trustees and the Company seetary. The total employee benefits oflhe key managernent pgrsonhel oflhe Charrty were £47.04812023- £39,735). Page 17
Ballet Lorent Llmlted Notes to the Flnanclal Stst•monts lor the Year Endod 31 March 2024 ntinu8d 11 Tanglble flxed a$sots Flxturo5. Ilttlngs and equlpmEnt Cost As at 1 Aprfl 2023 Additions A£ at 31 March 2024 85.173 35,717 120.890 Depreciation AE at 1 April 2023 Charg8 lor tho year As at 31 March 2024 38.745 9,391 48.136 Net book valuè A8 at 31 March 2024 As at 31 March 2023 72.754 46.428 12 Debtor5 2024 2023 Trade debtcrfs Othar d8blors Prapayments and a¢9 income 3.S21 53,637 16,608 73,766 24,1T2 89.336 40,729 154,237 13 Creditors: Amountg tslmng duè wlthln on• yar 2024 2023 Trade c¥editors Other creditor Accruals and deferred income 11.105 70 9,536 20.711 3,815 7.036 16,141 26,792 14 Mernb•rs' abIlIty The charity is a private eompany Mited by guarantee and wnsequentty (xs nol have sharg capita. Each of lh8 m8mb8rs Is Nab to tontrfbutè an aftKJunt mt 8xce8ding £1 toward5 Iha assots of tho tharity in the event ol liquidation. Pag8 18
Ballet Lorent Llmlted Nots5 to tho Financlal Statemonts for the Year Endod 31 March 2024 .. conllrntsd 15 0ratIng l•as• ¢•mmltmont• As at 31 Marth 2024 the charity had total futurn minimum lease payrnents under non4ancellabb op•rating 108868 as foth)ws.' LaNI and Bulldlngs 3024 2023 Wlthln on$ye8r 36,07S 29,250 16 Penslon sch•m• Defined contyibutlon p•nglon scheme The d)arlty operates a defined )ntributn penoft sehErne. The pensh* cost charg8 fc¢ the perfod rèpresents contributions Payab by the tharity lo the scheme and amounted lo £7,74612023-£6,3971. ThèM wère no outstsnding or pr•paid conlributs'ons al eilhor Ihe b8ginnln9 orend olthe finaneioly•ar. Page 19
Ballet Lorent Limited 14otes to thè Flnanclal Statemonts lortho Ygar Ended 31 March 2024 .. continued 17 Related partles Controlllng enttty The chariiy is controfAd by thè trustsaswho are 811 dire¢tors of the wmpany. 18 Anatysls of fund• At 1 Aprll 2023 In¢omlng re$our¢es Rosour¢•$ oxpendod At 31 March 2024 Tran$fors G•n•ral Funds Unrestrfcted Income fund 367,598 660.895 1666,0781 5.530 367,945 R•strlct•d Funds Cor8 restricted 29,788 122,472 195,1291 {5,5301 51,601 397.386 783,7 (761,2071 419.546 Cor& rastricigd- Grants r1Ved for spgcific projectswilhin the cha¥ty. Prlor p•rtod At 1 Aprll 2022 Incomlng r•sourco8 R8sourc•s expended Al 31 March 2023 General Funds Unrestricted incomg hJrtd 297,99S 585.087 1515.4841 3fj7.598 Restrlded Funds Coro rgstrictsd 125,373 71D.460 1179.f741 1695,1581 29,788 397,386 382,084 19 Tr•nsfer8 The tr8nsfèrtotalling £5.530 from re8tric18d funds to Lmreslricted fvnds r•presents restricted funds r1V9 to purchase fixed assets. 09 purchased the original restriction on the funds was mèl and thè assets wer th$rÈkn6 transferred io unr86tri¢led fvnds lo floCi tho fact that they arè unrestrictod in u$8. Page 20
Ballet Lortnt Limited Notss to the Financial Statoments for tho Year Ended 31 March 2024 conlinued 20 Netas$•ts by fund Unrestrld•d Funds R•strfGted Fund¥ Total Funds 2024 Total Funds 2023 TangiU& assèts Current assets Creditors.. Amounts faNlng due within one year Nèt assets 72,754 315.902 72.754 367,503 46.428 377.750 51,601 {20,711 367,945 120,7111 419,548 {26,7921 397.386 S1,601 Prlor rIOd Unrestrlcled Fund8 Restrl¢i•d Fund$ Totsl Funds 2023 Total Funds 2022 TaNJiblg awts Current assets Credrtors.. Amounts fralllng du8 ithin one yèar Nel assets 46,428 347,9e2 128,7921 367,598 46.428 377.750 126,7921 397,386 23,704 372,693 {14.313} 382,084 29.788 29.788 Pag8 21