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|Contents||
|---|---|
|COMPANYINFORMATION.,.....|................3|
|TRUSTEES REPORT FORTHEYEARENDED31MARCH2023..,.....,..,.|......-....4|
|CONSOLIDATEDSTATE MENT OFFINANCIALACTIVITI ES..,..,.|....... 25|
|CONSOLIDATED BALANCESHEET|27|
|CONSOLIDATED STATEMENT OFCASHFLOWS|LJ|
|NOTESTO THE FINANCIAL STATEMENTS..|30|
|T,
ACCOUNTINGPOLICIES|30|
|3.
EXPENDITUREONRAISING FUNDS|34|
|7.
REMUNERATIONOFTRUSTEES.............-..|.36|
|9.
TANGIBLEFIXED ASSETS|)t|
|10.INVESTMENTS|38|
|13.DEFERREDINCOME.|39|
|T4.PENSIONS|39|
|17.GROSS TRANSFERSBETWEEN FUNDS..|43|
|18.RECONCILIATION OF NETMOVEMENT INFUNDSTONET CASH FLOW FROM OPERATING ACTIVITIES|44|
|2T,CONTINGENTASSETSANDLIABILITIES|46|
|22,RELATED PARTYTRANSACTIONS..|.46|
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|Sir Roger Carr|(Chair)|
|---|---|
|SueButcher|(DeputyChair)|
|SanazAmidi|(appointed 7June2023\|
|MarilynBerk||
|LadyDeborah Buffini||
|Kamara Gray||
|Sandra Honess|(appointed7June2023)|
|ChristopherMarks||
|Paul Pacifico|(resigned7December 2022)|
|ChristopherSaul|(resigned 23 February 2023)|
|Susan Sloan||
|Dr ShirleyThompson||
|Caroline Thomson||
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|(lncorporatinganlncome andE|xpenditureAc|count)for theyearending3LMarch2023|count)for theyearending3LMarch2023|count)for theyearending3LMarch2023|||
|---|---|---|---|---|---|---|
|||GeneralDesignatedRestricted
Funds
Funds
Funds|||Total
Funds|Total
Funds|
||Nofes|2023|2023|2023|2023|2022|
|||f000|f000|f000|f000|f000|
|lncomefrom:|||||||
|Donationsand Grants:|||||||
|Grants26,4t5-503
Donations||122|-|I,665|6,918
2,387|9,r23
4,679|
|Charitable activities:|||||||
|Ticket salesandtourfees||7,842|||7,842|3,867|
|Outreachand engagement||228|||228|29|
|Othertradingactivities:|||||||
|Tradingactivities||1,,46r|||1,461-|L,3r2|
|Production hire&Co-||30|||30|1_,O74|
|productionlncome|||||||
|Programmes&merchandising||r32|||132|69|
|Membershipsubscriptions||58|||58|59|
|lnvestmentlncome||225|||225||
|Otherincorne||L46|||L46|24|
|Totallncome||17,259||2,1.68|19,427|20,236|
|Expenditureon
Raisingfunds|3|(7s4]l|(63)|(1)|(818)|
(68s)|
|Commercial Trading||(326)|(27],||(3s3)|
(387)|
|Operations|3||||||
|Charitable activities:|||||||
|Productionsandperformances|4|(15,996)|(1,387)|(666)|(18,049)|(17,355)|
|Outreachand engagement
Total Expenditure|4|(441)
(t7,5L7',1|(70)
(L,5471|(3es)
(t,O62l|(eo6)
(20,L26)|623\
(19,050)|
|Net(expenditure)/income||(2s8)|(L,5471|t,1t16 (699)||
L,186|
|Otherrecognisedgains-
Theatretaxrelief||2,053|||2,053r,02r||
|Transfersbetweenfunds
Net movementinfunds|17|(1,s18)
277|2,073
526|(sss)
551|r,354|
2,207|
|Reconciliationof funds:|||||||
|Netfunds brought forward
Net funds carriedforward||3,1-95
3,472|29,426
29,952|L,48334,104
3r,897
2,03435,45834,LO4|||
##
|CONSOLIDATED BALANCESHEET||||
|---|---|---|---|
|Asat 3l- March2023||||
||Notes|2023|2022|
|||€'000|f'000|
|Fixed Assets:||||
|Tangibleassets|I|21_,855|23,265|
|Currentassets:||||
|Work inprogress||139|36|
|Debtors|1,1|6,048|7,052|
|Cashatbank and inhand||12,549|8,004|
|Total currentassets||18,736|092
15|
|Liabilities:||||
|Creditorsfallingduewithinoneyear|12|(5,133)|(4,253)|
|NetCurrentassets||1"3,603|10,839|
|Totalassetslesscurrent liabilities||35,458|34,r04|
|Creditors fallingdueafteroneyear||||
|Total netassets||35,458|34,L04|
|Thefundsofthecharity:||||
|Generalfunds|15|3,472|3,195|
|Designated funds|15|29,952|29,426|
|Total unrestricted funds||33,424|32,621_|
|Resfficted funds|T6|2,034|1,,483|
|Total charity funds||35,458|34,tO4|
##
|CHARITY BALANCESHEET
Asat 3LMarch2023||||
|---|---|---|---|
||Notes|2023|2022|
|||f'000|f'000|
|FixedAssets:||||
|Tangibleassets|9|21,,855|23,265|
|Currentassets:||||
|Workinprogress||139|36|
|Debtors|t1|4,9r0|6,954|
|Cashatbank and inhand||12,120|6,371|
|Totalcurrentassets||17,1,69|13,361|
|Liabilities:||||
|Creditorsfallingduewithinone year|12|(3,566)|(2,522)|
|Net Currentassets||13 603|10,839|
|Totalassetslesscurrent liabilities||35,458|34,I04|
|Creditorsfallingdueafterone year||||
|Total netassets||35,458|34,IO4|
|Thefunds ofthecharity:||||
|General funds|15|3,472|3,195|
|Designatedfunds|15|29,952|29,426|
|Total unrestricted funds||33,424|32,62I|
|Restrictedfunds|1,6|2,034|1,,493|
|Total charityfunds||35,458|34,LO4|
##
|CONSOLI DATEDSTATEM ENT OFCASHFLOWS
Asat31March2023||||
|---|---|---|---|
||Notes|2023|2022|
|||Ê'000|f'000|
|Cashflowsfromoperating activities:||||
|Netcashflowprovidedbyoperatingactivities|18|4,437|L,r94|
|Cashflowsfrominvestingactivities:||||
|Bankinterest||155||
|Purchaseof property,plantandequipment||(47)|(3)|
|Net cash used in investingactivities||108|(3)|
|Change incash inthereportingperiod||4,545|L,r91|
|Cashatthebeginning ofthe reportingperiod||8,004|6,813|
|Cashattheendofthereportingperiod||L2,549|8,004|
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||General|Restricted|Total|Total|
|---|---|---|---|---|
||Funds|Funds|2023|2022|
||Ê000s|f000s|f000s|f000s|
|ArtsCouncilEngland-revenuefunding|6,328||6,328|6,328|
|Trustsandfoundations|87|503|590|69s|
|UKGovernmentCoronavirus Job Retention|||||
|Scheme||||176|
||6,4I5|503|6,9L8|7,!99|
|Exceotionalfuncii
duetooandemic|||||
|Department ofDigital,Culture,Media &Sports
-CultureRecovery FundL||||820|
|Department ofDigital,Culture,Media & Sports
-CultureRecovery Fund3||||1,I04|
|||||1,,924|
|Total2023|6,41.5|s03|6,91_g|9,r23|
|fo6l2022|8,592|531|9,r23||
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||||||||
|---|---|---|---|---|---|---|
|RAISINGFUNDS||General|Designated|Restricted|Total|Total|
|||Funds|Funds|Funds|Funds|Funds|
||Notes|2023|2023|2023|2023|2022|
|||f'000|€'000|Ê'000|f'000|f'000|
|Supportcosts|5|154|63|t|218|180|
|Events||77|||77|176|
|Otherfundraisingcosts||523|||523|329|
|Total2023||754|63|1|818|685|
|Total 2022||633|5L|L|685||
|COMMERCIAL TRADING|||||||
|---|---|---|---|---|---|---|
|OPERATIONS||General|Designated|Restricted|Total|Total|
|||Funds|Funds|Funds|Funds|Funds|
||Notes|2023|2023|2023|2023|2022|
|||f'000|E'000|Ê'000|c'000|f'000|
|Supportcosts|5|6l|27||94|r02|
|OtherCommercial TradingCost||259|||259|285|
|Total2023||326|27||353|387|
|foál2022||357|30||387||
##
|.EXPENDITUREONCHARITAB|LEACTIVIT|IES||||||
|---|---|---|---|---|---|---|---|
|||General|Designated||Restricted|Total|Total|
|||Funds||Funds|Funds|Funds|Funds|
||Notes|2023||2023|2023|2023|2022|
|||f'000||f'000|Ê'000|f'000|f'000|
|Productions and Performances||||||||
|Supportcosts|5|3,409||87
3
1|21|4,817|4,565|
|Productionand rehearsalcosts||574|||327|901|2,850|
|Performancecosts||4,260||||4,260|2,380|
|Artists||3,867|||318|4,185|3,998|
|Technical, stage,wardrobe||902||||902|757|
|Producing||218||||2t8|191|
|Music||283||||283|338|
|Medical andwelfare||467||||461|424|
|Marketingandpublicity
Total2023||2,01.6
l_5,996||1,387|666|L8,049
2,01-6|!7,355
L,852|
|Total 2022||14,207||2,287|861|L7,355||
|||General|Designated|Restricted|Total|Total|
|---|---|---|---|---|---|---|
|||l-unds|Funds|Funds|Funds|Funds|
||Notes|2023|2023|2023|2023|2022|
|||f'000|€'000|Ê'000|f'000|Ê'000|
|Outreachand Engagement|||||||
|Supportcosts|5|171|70|1|242|1,64|
|Programmecosts||||381|381|228|
|Programmemanagement&||270||13|283|23r|
|administration
Total2023||441|70|395|906|
623|
|Total 2022||340|47|236|623||
##
|.SUPPORTCOSTS|||||||
|---|---|---|---|---|---|---|
||Productions|||Commercial|||
||&|Outreach&|Raising|Trading|Total|Total|
||Performance|Engagement|Funds|Operations|||
||2023|2023|2023|2023|2023|2022|
||Ê'000|Ê'000|Ê'000|Ê'000|Ê'000|€'000|
|Managementandadministration|2,r72|109|98|42|2,421_|2,210|
|Premises andfacilities|1,339|67|61.|26|1_,493|1,,346|
|Depreciation charge
Total 2023|1,306
4,8r7|66
242|59
2r8|26
94|1,457
5,371|1_,455
5,011|
|fotal2022|565
4|164|180|toz|5,01_L||
##
|NGLISHNATIONALBALLET([imitedby guarantee)
egisteredCompany Number: 735040
harity Registrat¡on Number: 274005
.EXPENDITURE|||
|---|---|---|
||Total|Total|
||2023|2022|
||f'000|Ê'000|
|Thenet income/(expenditure)isstated aftercharging|||
|Operatingleasesland and buildings,office equipment|135|135|
|Depreciation chargeontangible fixedassets|1,,457|1,,454|
|Governancecosts:|||
|Auditors' remuneration: groupandcharity audit|47|39|
|Nonauditservices|9|L4|
|Legal costs|30|58|
##
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||2023|2022|
|---|---|---|
||FTE|FTE|
|Engagement and outreach|4|5|
|Artisticmanagement|1,1,|9|
|Dancers|72|71,|
|Producing, medical, company management|1_0|8|
|Orchestra and music management|1,1,|1I|
|Technical,stages,wardrobe|28|25|
|Marketingandcommunications|8|8|
|Fundraising|7|7|
|Managementandadministration|26|20|
|Total|t77|164|
||Total|Total|
|---|---|---|
||2023|2022|
||Ê000s|Ê000s|
|The aggregate payrollcostsofthese employees were|||
|Wagesandsalaries|8,280|7,1,38|
|Socialsecuritycosts|880|761|
|Pensions|324|315|
|Totalemployeecosts|9,484|8,2r4|
|Freelancestaff|260|380|
|Total|9 744|8,594|
|NGLISHNATIONALBALLET([imitedbyguarantee)
egisteredCompany Number: 735040
harityRegistration Number: ZI4OO5|||
|---|---|---|
|Thenumberof employeeswhose emoluments,including|||
|benefitsin kind,wereinexcessofÊ60,000 was:|2023|2022|
|€60,000toÊ69,999|6|4|
|€70,000tof79,999
Ê80,000toÊ89,999|7
1,|8
t|
|Ê90,000to€99,999|2|1|
|f150,000toÊl-59,999
f1"60,000toÊL69,999|1
1|1,
t|
|f1-80,000toÊL89,999|1,||
|f220,0001o f229,999||1|
||19|17|
##
|Group &Charity|Long|Leasehold|Plant &|Furniture &|Total|
|---|---|---|---|---|---|
||Leasehold|lmprovements|Equipment|Fittings||
||f000s|f000s|€000s|f000s|Ê000s|
|Cost||||||
|tApril2022|5,253|1,4,810|6,436|2,044|28,543|
|Additions||29|1"8||47|
|31 March2023|5,253|L4,839|6,454|2,044|28,590|
|Depreciation||||||
|1April2022|315|L,307|2,786|870|5,278|
|Chargefor theyear
31-March2023|105
420|313
1,620|749
3,535|290
1.,1.60|1,,45-7
6,735|
|Netbook value||||||
|31 March2023|4,833|13,219|2,9!9|884|21,,855|
|31.March2022|9
4, 38|l_3,503|3,650|1.I74|23,265|
##
##
||2023|2422|
|---|---|---|
||Ê|f|
|Shares insubsidiaryundertaking|2|2|
||2023|2022|
|---|---|---|
||Ê000s|Ê000s|
|Turnover|'J-,200|1,,280|
|Expenditure|(270)|(266)|
|Netprofit|930|1_,014|
|Reservesbrought forward||(836)|
|Amount distributedtoEnglishNational Ballet under deedofcovenant|(e30)|(178)|
|Reservescarriedforward|||
||2023|2022|
||f000s|Ê000s|
|Theassetsheldinthesubsidiarytradingcompanywere|||
|Currentassets|'J,,546|2,078|
|Currentliabilities|(1.,546)|(2,078)|
|Netassets|||
|Aggregate share capital andreserves|||
##
|)Company:ENBProductions Limited|||
|---|---|---|
||2023|2022|
||f|f|
|Shares insubsidiaryundertaking|2|2|
##
|||2023|2023|2022|2022|
|---|---|---|---|---|---|
|||Group|Charity|Group|Charity|
|||f000s|f000s|Ê000s|f000s|
|Tradedebtors||208|72|346|9L|
|Amounts|owedbysubsidiary undertaking||||347|
|VAT||2,126|2,126|2,476|2,476|
|Otherdebtors||2,056|2,056|3,235|3,231|
|Prepayments and accrued income||1,658
6,O48|656
4,9\0|99s
7,052|809
6,954|
|L2|CREDITORS|2023|2023|2022|2022|
|||Group|Charity|Group|Charity|
|||Ê000s|f000s|Ê000s|f000s|
|Tradecreditors||272|272|286|279|
|Amounts|owedtosubsidiary undertaking||72r|||
|SocialsecurityandPAYE||195|195|190|190|
|Othercreditors||929|929|972|972|
|Accruals||1,,227|L,226|L,O28|!,024|
|Deferred|income|2,5r0
5,1_33|223
3,566|1_,777
4,253|57
2,522|
##
|13.DEFERREDINCOME
eferredincomecomprisesincomefromfuturepe|rformancesand|membership|.||
|---|---|---|---|---|
||2023|2023|2022|2022|
||Group
Ê000s|Charity
Ê000s|GrouP
f000s|Charity
Ê000s|
|Balancebroughtforwardat1-April|1_,777|57|1,,'J_1_6|L,087|
|Prioryeardeferred incomereleasedinyear|(s41)|(s7)|(1,116)|(1,087)|
|lncomedeferredinyear|1,,274|223|1_,777|57|
|Balancecarriedforward|2,510|223|1,,777|57|
##
##
|ENGLISHNATIONAL BAILET(Limitedby gu
RegisteredCompany Number: 735040
CharityRegistrationNumber: 2L4005
15.UNRESTRICTEDRESERVES|arantee)|||||
|---|---|---|---|---|---|
|2023|Balanceat|lncome&Expenditure||Transfers|Balance at|
||lApril|othergains|||31March|
||2022||||2023|
|Group:|f000s|Ê000s|€000s|t000s|Ê000s|
|GeneralFunds|3,L95|
19,312 (17,517)||
(1,519)|3,472|
|Designated funds:||||||
|City lsland 2020 ProjectFixed|22,907||(1,398)|47|21.,556|
|Assetfund||||||
|Fixed assetfund|124||(36)||88|
|CapitalMaintenanceReserve|4,94r||(1r_3)|673|5
50L|
|Capital Equipment fund||||300|300|
|BBCDiana, PrincessofWales||||203|203|
|Fund||||||
|NewWorksfund||||400|400|
|Overheadlnflation fund||||450|450|
|CRF3Conditional fund|T,IO4||||1_,104|
|ArtisticDirectorTransition|350||||350|
|Periodfund||||||
|Designated funds|29,426||(1,547)|2,073|29,952|
|Total UnrestrictedReserves|32,62I|
1g,3t2|
(19,064)|555|33,424|
|2022|Balance at|lncome&Expenditure||Transfers|Balanceat|
||lApril|othergains|||3l-March|
||2021,||||2022|
|Group:|Ê000s|f000s|€000s|Ê000s|f000s|
|GeneralFunds|3,420|
19,421. (15,537)||
(4,109)|3,1_95|
|Designated funds:||||||
|City lsland 2020 ProjectFixed|23,684||(1,39o)|6L3|22,907|
|Assetfund||||||
|Fixed assetfund|165||(4r)||1,24|
|Pre-paidProductionExpenditu re|984||(s84)|||
|forNew AkramKhan||||||
|VATMarkovaHouse Fund|2,500|||(2,500)||
|CapitalMaintenanceReserve||||4,94L|4,941|
|CRF3ConditionalFund||||1,104|L,104|
|ArtisticDirector Transitlon||||350|350|
|Penodl-und||||||
|Designatedfu nds|27,333||(2,415\|4,508|29,426|
|Total UnrestrictedReserves|30,753 19,421(17,9521|||399|32,621_|
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|L6.
MOVEMENTS INRESTRI TED FUNDS|L6.
MOVEMENTS INRESTRI TED FUNDS|||||
|---|---|---|---|---|---|
|2023
Group and Charity:|Balanceat
lApril|lncome|ExpenditureTransfers||Balanceat
3l-March|
||2022||||2023|
||f000s|€000s|f000s|Ê000s|Ê000s|
|Outreach and engagement|260|330|(3e4)||196|
|Production development|\34|L99|(327\||6|
|New Worksfund|!24|935|||1,059|
|Talentdevelopment|509|1,49|(318)||340|
|GoodGrowth fund|222||||222|
|Capitalproject-LondonCity||555||(sss)||
|lsland||||||
|ArtsCouncilRecoveryPlan|1,483
234|2,1.69|(r,062)(sss
(23)||2L1
2,034|
|2022
Group and Charity:|Balanceat
lApril|lncome|ExpenditureTransfers||Balanceat
3l-March|
||2021,
f000s|Ê000s|Ê000s|f000s|2422
Ê000s|
|Outreach and engagement|r04|391|(23s)||260|
|Production development|561|332|(7se)||134|
|New Worksfund||1,24|||r24|
|Talentdevelopment||590|(81)||509|
|GoodGrowth fund|222||||222|
|Capitalproject-LondonCity||399||(3es)||
|lsland||||||
|ArtsCouncilRecoveryPlan|257||(23)||234|
||1,,1,44|1,936|
(1,099)|(3ee)|1,,483|
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|L7.GROSSTRANSFERSBETWEEN FUNDS
epreciation andpremisesexpenditure areparto
ounrestrictedgeneralfunds. Theyaresubse
esignatedor restricted fund.|ftheCharity'ssupportcosts andare initiallych
quentlytransferredtotheappropriateunrestr|ftheCharity'ssupportcosts andare initiallych
quentlytransferredtotheappropriateunrestr|ftheCharity'ssupportcosts andare initiallych
quentlytransferredtotheappropriateunrestr|arged
icted|
|---|---|---|---|---|
|ZOZ3|UnrestrictedUnrestrictedRestricted|||Total|
||General
Funds|Designated
Funds|Funds|2023
Funds|
||fO00s|
fOOOs|Ê000s|f000s|
|TransferofRestrictedLCI(LondonCity|-|555|(555)||
|lsland)FixedAssetFundtoCapital|||||
|MaintenanceReserve
TransfertoBBCDiana, PrincessofWales|(203)|
203|||
|fund|||||
|TransfertoCapital Equipmentfund
TransfertoNew Worksfund|(300)
(400)|
300
400|||
|Transfertooverhead lnflationfund|(450)|
450|||
|TransfertoCapitalMaintenanceReserve|(165)|
165|||
||(1,5L8)|2,073|(sss)||
|2022|U nrestricted|U nrestricted|Restricted|Total|
|---|---|---|---|---|
||General|Designated||2022|
||Funds|Funds|Funds|Funds|
||f000s|Ê000s|f000s|f000s|
|TransferofRestrictedLCI(LondonCity||399|(3ee)||
|lsland)FixedAssetFund|||||
|TransferofDesignatedLCIFund|(2r4)|21,4|||
|TransferofCapitalMaintenanceReserve|(4,941)|4,94!|||
|Transfer ofVATMarkova HouseFund|2,500|(2,500)|||
|TransferofCRF3ConditionalFund|(1,104)|1,1,04|||
|Transfer ofArtisticDirector Transition|(3so)|350|||
|PeriodFund|||||
||(4,1091|4,508|(3ss)||
|18.
RECONCILIATION OFNETMOVEMENT IN|FUNDSTONET CASHFLOWFROM OPERATING||||
|ACTIVITIES:|||||
|||2023||2022|
|||Ê000s|t000s||
|Net incomeforthereporting period(asper|||||
|the Statement ofFinancialActivities)||1_,354||2,207|
|Adjustments for:|||||
|Depreciationcharge||1,457||1,,454|
|lnterestreceivable||(22s)|||
|Decrease/(increase)inworkin progress||(103)||988|
|Decrease/(increase)indebtors||1,,074|(1.,71,61||
|Increase/(decrease) increditors||880|(1.,739)||
|Netcashinflow/(outflow)fromoperatingactivities||4,437||1_,r94|
||lApril||3L March||
|NET DEBT|2022|Cashflow|2023||
||Ê000s|f000s|Ê000s||
|Cashatbank and inhand|8,004|4,545|12,549||
|2023|U nrestricted|U nrestricted|Restricted|Total2023|
|---|---|---|---|---|
|Group|General
Fundsf000s|Designated
Funds Ê000s|Fundsf000s|Funds Ê000s|
|Fixed assets||21,,644|21,r|21,855|
|Work inprogress|139|||139|
|Debtors|6,048|||6,048|
|Cashatbank|2,4r8|8,308|L,823|12,549|
|Creditors|(5,133)|||5,133)|
||3,472|29,952|2,034|35,458|
|2022|U nrestricted|U nrestricted|Restricted|Total 2A22|
|Group|General
Funds€000s|Designated
Funds€000s|Fundst000s|Fundsf000s|
|Fixed assets||23,031|234|23,265|
|Work inprogress|36|||36|
|Debtors|7,052|||7,052|
|Cashatbank|360|6,395|1,249|8,004|
|Creditors|(4,253)|||(4,238)|
||3,1-95|29,426|1,,483|34,104|
##
##
||Not later|Laterthan|Laterthan|ToTal2O23|Tolal2022|
|---|---|---|---|---|---|
||thanone|oneyear but|fiveyears|||
||year|notIater||||
|||than five||||
|||years||||
||Ê000s|Ê000s|f000s|t000s|Ê000s|
|Officeequipment|5|2||7|t2|
|Landand buildings|138|550|550|1-,238|1,376|
||143|552|550|1_,245|l-,388|
##
||Not later|Later than|Laterthan|Total2023|Tolal2022|
|---|---|---|---|---|---|
||thanone|oneyear but|five years|||
||year|notlater||||
|||thanfive||||
|||years||||
||Ê000s|f000s|[000s|f000s|Ê000s|
|Minimum||||||
|licensepayments|45|24||69|1,1,4|
||45|24||69|tr4|
##
##
##