2020-08-31-accounts

TATEMENT OF s at 31August 2020	FINA	NCIAL	ACTIVITIES	ACTIVITIES
STATEMENT OF FINANCIAL ACTIVITIES			Unrestricted		Funds	Restricted Funds	Total Funds	Total Funds
		Note	General	Designated			2020	2019
			EOOO		EOOD	EOOD	f000	f000
Income from: Charitable activities Donations Otherincome			7,841 1,683 579			2,256	7,841 3,939 579	9,151 3,875 68
Totalincome			10,103			2,256	12,359	13,094
Expenditure on:
Raising funds
Development and fundraising			293				293	317
			293				293	317
Charitable activities Teaching Pasto ra I an d welfare Outreach and partnership Premises Support and governance Grants and prizes		7,8 9	3,344 1,606 888 1,747 1,465		10 1,076	47 269 305 176 745	3,391 1,875 1,203 2,999 1,465 745	3,569 2,176 1,611 3,652 1,466 963
			9,050		1,086	1,542	11,678	13,437
Total expenditure		6	9,343		1,086	1,542	11,971	13,754
Net income / (expenditure)			760		(1,086)	714	388	(660)
Transfers between funds		16.17	(699)		697
Other recognised losses
Actuarial (losses)/gain on defined benefit pension		24g						(725)
scheme
Net movement in funds					(389)	716	391	(1,385)
Total funds brought forward			2,851		37,324	2,653	42,828	44,213
Total funds carried forward		16,17	2,915		36,935	3,369	43,219	42,828

			2D20	2019
		Note	EOOD	EOOD
Fixed assets
Tangible assets			38,553	39,477
Current assets
Debtors		12	2,487	2,474
Cash at bank and in	hand		5,068	5,062
Total current assets			7,555	7,536
Creditors: amounts	falling due within one year
Trade and other creditors		13	(1,313)	(982)
Deferred income		14		(1,581)
Net current assets			6,242	4,973
Total assets less current liabilities			44,795	44,450
Creditors: Amounts	falling due after one year	15	(281)	(311)
Defined benefit pension scheme liability		24	(1,295)	(1,311)
Total net assets		18	43,219	42,828
The funds ofthe charity:
Unrestricted funds
General fund			2,915	2,851
Designated funds			36,935	37,324
Total Unrestricted	funds	16	39,850	40,175
Restricted funds		17	3,369	2,653
Total charity funds			43,219	42,828

			Note	2020	2019
					6000
Cash flows from operating activities:
Net cash (used in)/provided by operating	activities		A below	30Z	(121)
Cash flows from investing activities:
Interest receivable				14	29
Interest payable Proceeds from sale of fixed assets				(20)	(21) 3
Purchase oftangible fixed assets				(260)	(272)
Net cash used in investing activities				(266)	(261)
Cash flows from financing activities
Repayments of borrowing				(30)	(30)
Change in cash in the reporting period					(412)
Cash at the beginning ofthe year				5,062	5,474
Cash at the end ofthe year			8 below	5,068	5,062
Reconciliation ofcash flows from operating		activities:	Note A	2020 6000	2019 6000
Net income, from the statement offinancial		activities		388	(660)
Adjustments for: Depreciation charge Defined pension scheme net income Interest receivable Interest payable Proceeds from the sale offixed assets				1,184 (13) (14) 20	1,195 (5) (29) 21 (3)
(Increase) / decrease in debtors Increase/(decrease) in creditors				(13) (1,250)	(33) (607)
Net cash (used in)/provided by operating	activities			302	(121)
Analysis of cash			Note 8	2020 f000	2019 6000
Cash at bank and in hand				5,068	5,062

2	Charitable	activities income	activities income	activities income	activities income		2020	2019
							EOOD	EOOO
	School fees		—note 2a				6,682	7,054
	Extras and	performance			income		136	192
	Fees from	Associates, Summer School and Teachers'				courses	833	1,705
	Auditions	and other income					190	200
							7,841	9,151
2a.	School Fees
	School fees		were funded		from:
	Grants from		the Department for Education				3,721	3,915
	Bursaries	from The Royal Ballet School Endowment				Fund	245	145
	8ursa ries	from restricted			donations		400	852
	Parents						2,317	2,142
							6,683	7,054
							2020	2019
	Donations
							f000	EOOD
	Grants						1,131	1,131
	Donations						2,792	2,729
	Friends						16	15
							3,939	3,875
							2020	2019
4	Other Income
							EOOD	EOOO
	Investment		income —bank interest				14	29
	Other income						259	39
	Coronavirus		furlough	scheme			306
							579	68

	Trading subsidiary
	The Charity has one wholly	owned subsidiary,			TRBSEEnterprises		Limited, whose registered				address	is
	46 Floral Street, London WC2E 9DA.The activities ofTRBSEnterprises							Limited are immaterial			to those
	ofthe Group so consolidated		accounts have		not been	prepared.	Due	to the presentation		of	the School's
	accounts in round thousands,		the subsidiary		shares off100held, are			not shown as an investment				in
	these financial statements.	The company's		trading results are the year, extracted					from its audited
	financial statements were:
									2020		2019
									EOOD		f000
	Turnover								10
	Cost of sales								(5)
	Gross profit								5			3
	Administrative expenses:	Licence to occupy			premises				(1)			(1)
	Other expenses								(9)			(11)
	(Loss) on ordinary activities		before gift aid						(5)			(9)
	(Loss) on ordinary activities		before taxation						(5)			(9)
	Tax on profit on ordinary	activities
	(Loss) for the year								(5)			(9)
	Net assets
									Total			Total
6	Expenditure analysis		Staff costs		Depreciation		Other	Costs	2020			2019
			EOOD			f000		EOOD	f000			EOOD
	Raising Funds
	Development and Fund raising		216					77	293			317
	Charitable activities
	Teaching Pastoral and Welfare		3,030 874					361 1,001	3,391 1,875			3,569 2,176
	Outreach & Partnership		995					208	1,203			1,611
	Premises		485			1,184		1,330	2,999			3,652
	Support and Governance Grants and Prizes		634					831 745	1,465 745			1,466 963
			6,018			1,184		4,476	11,678		13,437
	Total Expenditure		6,234			1,184		4,553	11,971		13,754

ear	ended 31August 2020
					Total	Total
7	Governance costs				2020	2019
					EOOO	EOOO
	Governance costs included Fees payable to the auditor Under accrual for prior year	in support costs: for the statutory audit fees relating to the statutory		audit	29 (12)	30 12
	Fees payable to the auditor Board and committee costs	for tax advice			2 9	23
	Total				28	65
					Total	Total
8	Finance and lease costs				2020	2019
					EOOO	EOOO
	Bank interest payable Interest on pension plan Operating leases: land and buildings Operating leases: pianos and office equipment				20 23 163 26	21 16 163 21

		Total	Total
		2020	2019
		EOOO	EOOO
Other	grants	739 6	955 8
Prizes
		745	963
Total

ear	ended 31August 2020
		2020	2019
10	Staff costs	f000	EOOO
	Wages and salaries Social security costs Other pension costs Other costs	5,187 481 548 18	5,052 468 447 22
	Payroll sub total Contracted out staffing services	6,234	5,989 30
		6,234	6,019

		2020	2019
		Number	Number
The number of higher paid employees	in bands of:
E60,001tof70,000
E70,001to f80,000
E80,001to E90,000
E100,001tof110,000

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			0
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Debtors	2020	2019
	EOOO	EOOD
Amounts falling due within one year: Fees and recoverable extras Intercompany Connected charity (see Note 22) Other debtors Prepayments Accrued Income Department for Education —Music and Dance Scheme funding	301 95 1,363 28 91 609	317 71 902 14 142 582 446
Total	2,487	2,474

13	Creditors: amounts falling due within one year	2020 EOOD	2019 EOOD
	Trade creditors Taxation and social security Other creditors	422 116 79 162	377 135 65 375
	Accruals Bank Loan due within one year Department for Education —Music and Dance Scheme funding	30 504	30
	Total	1,313	982

		2020	2019
Deferred income		EOOD	EOOD
			81
Feesin advance Department of Education	paid in advance		1,500
Total			2,603

ear	ended 31August 2020
15	Creditors; amounts falling due after one year			2020	2019
				EOOD	EOOO
	Creditors due in 2 to 5years Bankloans			121		121
	Creditors due in 5years Bankloans			160		190
	Total			281		311
ank loans at 31August 2020 include a fixed rate loan ofF311,000(2019:E341,00) repayable by November 030, with E30,000due within one year, and an interest rate is 6.01'%per annum. This loan is secured by charge
ver the White Lodge property.
						Balance as
16	Unrestricted funds Balance as at	Income	Expenditure	Transfers	Gains/ (Losses)	at31Aug 20
	1Sep 19
	EOOO	EOOO	EOOO	EOOO	EOOD	EOOO
	Designated Fixed asset fund 36,447		(1,076)			35,371
	Building Maintenance fund Associate Programme Pension Deficit Fund 500 377		(10)	450		500 367 450
	Deferred IT and Building Maintenance Fund			247		247
	37,324		(1,086)	697		36,935
	General Pension reserve Free reserve (1,311) 4,162	10,103	(23) (9,320)	36 (735)		(1,295) 4,210
	2,851	10,103	(9,343)	(699)		2,915
	Total 40,175	10,103	(10,429)	(2)		39,850

ded 31Au	gust 20	20
								Balance as
Unrestricted	funds 2018-19		Balance asat1	Income	Expenditure	Transfers	Gains/ (Losses)	at31Aug 19
			Sep 18
			EOOO	EOOO	EOOO	E000	EOOO	EOOO
Designated Fixed asset fund			37,506		(1,059)			36,447
Building Maintenance Associate Programme		fund	500 387		(10)			500 377
			38,393		(1,069)			37,324
General
Pension reserve Free reserve			(591) 3,981	10,304	(31) (10,172)	36 49	(725)	(1,311) 4,162
			3,390	10,304	(10,203)	85	(725)	2,851
Total			41,783	10,304	(11,272)	85	P25)	40,175

ear	ended 31August 2020
						Balance as
17	Restricted funds	Balance as	Income	Expenditure	Transfers	at31Aug 20
		at 1Sep 19
		EOOO	EOOO	EOOO	EOOO	EOOO
	White Lodge Appeal Fund Audjebsen Hall- Fimlico Appeal Capital projects Special projects Sponsorship, bursaries and prizes Outreach and Access fund Ballet and artistic funds Healthcare Equipment Intensive Courses WiFi Cabling	49 31 11 757 177 459 851 155 140 23	146 5 1,123 405 90 472 15	(146) (23) (5) (743) (265) (73) (250) (19) (15) (3)		49 8 11 1,139 317 476 1,073 151 125 20
		2,653	2,256	(1,542)		3,369
						Balance as
	Restricted funds 2018-19	Balance as	Income	Expenditure	Transfers	at 31Aug 19
		at 1Sep 18
		EOOO	EOOO	EOOO	EOOO	EOOO
	White Lodge Appea I Fund Aud Jebsen Hall- Fimlico Appeal Capital projects Special projects Sponsorship, bursaries and prizes Outreach and Access fund Ballet and artistic funds Healthcare Equipment Intensive Courses WiFI Cabling	208 50 768 151 316 692 227 18	244 50 65 977 431 354 439 5 200 25	(452) (51) 31 (54) (988) (405) (211) (250) (22) (78) (2)	(30) (55)	49 31 11 757 177 459 851 155 140 23
		2,430	2,790	(2,482)	(85)	2,653

WiFiCabling
This fund represents support received White Lodge. The annual depreciation	from the Royal Ballet School PTA to upgrade the WiFi provision at charge will be made against this fund until it is fully expensed.
Allocation of assets by fund type	unrestricted	Unrestricted Designated	Restncted	Total
	General Fund	Funds	Funds	2020
	EOOO	EOOD	EOOD	EOOO
Fixed Assets Debtors Cash at Bank Creditors: due within one year Creditors: due after one year Defined benefit pension scheme deficit	267 2,487 3,050 (1,313) (281) (1,295)	38,222 (1,287)	64 3,305	38,553 2,487 5,068 (1,313) (281) (1,295)
	2,915	36,935	3,369	43,219

al Ballet School tes to the financial stateme ended 31August 2020	nts
Allocation ofassets by fund type 2018-19	Unrestricted GeneralFund	Unrestricted Designated Funds	Restncted Funds	Total 2019
	f000	EOOD	EOOO	EOOO
Fixed Assets Debtors Cash at Bank Creditors; due within one year Creditors: due after one year Defined benefit pension scheme deficit	2,964 2,474 1,598 (2,563) (311) (1,311)	36,447 877	66 2,587	39,477 2,474 5,062 (2,563) (311) (1,311)
	2,851	37,324	2,653	42,828

Ci nderoeratin leases
ommtments u pg			2020	2019
			EOOO	EOOD
The total of future minimum lease payments	under operating	leases
for each of the following periods; Not later than one year Later than one year and not later than five Later than five years	years		168 653 571	189 657 734
			1,392	1,580

24a	The principal actuarial assumptions	at the end of the reporting	period (expressed as weighted
	averages):		2020	2019
			f000	f000
	Discount rate RPI assumption CPI assumption LPI pension increases		1.6% 3.4% 2.6% 3.3%	1.8% 3.4% 2.6% 3.3%

	Discount rate RPI assumption CPI assumption LPI pension increases . 3.4% 3.4% 2.6% 2.6% 3.3% 3.3%	Discount rate RPI assumption CPI assumption LPI pension increases . 3.4% 3.4% 2.6% 2.6% 3.3% 3.3%	Discount rate RPI assumption CPI assumption LPI pension increases . 3.4% 3.4% 2.6% 2.6% 3.3% 3.3%	Discount rate RPI assumption CPI assumption LPI pension increases . 3.4% 3.4% 2.6% 2.6% 3.3% 3.3%	Discount rate RPI assumption CPI assumption LPI pension increases . 3.4% 3.4% 2.6% 2.6% 3.3% 3.3%	Discount rate RPI assumption CPI assumption LPI pension increases . 3.4% 3.4% 2.6% 2.6% 3.3% 3.3%	Discount rate RPI assumption CPI assumption LPI pension increases . 3.4% 3.4% 2.6% 2.6% 3.3% 3.3%
	The underlying mortality assumption is based upon the standard table known as 52PXA projected on a year of birth basis with CMI 2019future improvement factors and a long-term rate offuture improvements with 1.25% p.a. (2019:PNA00 with CMI 2018future improvement factors and a long- term future rate o improvement of1.25%p.a.).This results in the following life expectancies:
						Years	Years
	Life expectancy for 60year old female Life expectancy for 45 year old female					88.3 89.5	89.0 90.2
24b	The amounts recognised in the balance sheet:					2020	2019
						6000	f000
	Present value of Plan liabilities Market value of Plan assets					(3,591) 2,296	(3,713) 2,402
	Net defined benefit liability					(1,295)	(1,311)
24c	Amounts included within the Statement ofFinancial	Activities
	(SOFA):					2020	2019
						f000	f000
	Current service cost Interest on net defined benefit asset Past service cost					(23)	(16) (15)
	Total amount charged within net incoming resources					(23)	(31)

24d	Changes in the present value of Plan liabilities:	Changes in the present value of Plan liabilities:					2020	2019
							EOOO	EOOO
	Present value ofscheme liabilities at beginning		ofthe year				(3,713)	(3,498)
	Past service cost Benefits paid Interest on Plan liabilities Actuarial loss/ (gain)						158 (65) 29	(15) 497 (88) (609)
	Present value of Plan liabilities at end of	the year					(3,591)	(3,713)
24e	Changes in the fair value of Plan assets:						2020	2019
							EOOO	EOOO
	Market value of Plan assets at beginning Employer contributions Benefits paid Interest on Plan assets Return on assets, less interest included	ofthe reporting in the SOFA			period		2,402 36 (158) 42 (26)	2,907 36 (497) 72 (116)
	Market value of the Plan assets at the end ofthe reporting					period	2,296	2,402
	Actual return on Plan assets						16	(44)
24f	The major categories of Plan assets as a percentage			of		total Plan assets:
							2020	2019
	Group pension contract						100% 0%	100% 0%
	Cash

24g	Analysis ofthe measurement ofthe net defined benefit liability recognised	Analysis ofthe measurement ofthe net defined benefit liability recognised	in Other recognised
	losses in the SOFA:		2020	2019
			6000	6000
	Return on assets, less interest included in the SOFA Experience gains and losses arising on Plan liabilities Changes in assumptions underlying the present value	of Plan	(26) 78 (49)	(116) 43 (652)
	liabilities
	Actuarial loss/(gain) recognised in Other recognised	losses		(725)
24h	Movement in deficit during the year		2020	2019
			6000	6000
	Deficit in the scheme atthe beginning ofthe year interest recognised in the SOFA Employer contributions Actuarial loss/(gain) recognised in Other recognised	losses in the	(1,311) (23) 36 3	(591) (31) 36 (725)
	SOFA
	Deficit in the scheme at the end ofthe year		(1,295)	(1,311)

atement of financial	acti	vities-	comparative	Ogures for the	prior period	by fund
						Restricted	Total
				Unrestricted	Funds	Funds	Funds
			Note	General Designated			2019
				EOOD	EOOD	EOOO	EOOD
Income from: Charitable activities Donations Other income				9,142 1,094 68		9 2,781	9,151 3,875 68
Total income				10,304		2 790	13094
Expenditure on:
Raising funds
Development and fundraising				317			317
				317			317
Charitable activities Teaching Pastoral and welfare Outreach and partnership Premises Support and governance Grants and prizes			7,8 9	3,370 1,914 1,079 2,057 1,466	10 1,059	199 262 522 536 963	3,569 2,176 1,611 3,652 1,466 963
				9,886	1,069	2,482	13,437
Total expenditure			6	10,203	1,069	2,482	13,754
Net income / (expenditure)				101	(1,069)	308	(660)
Transfers between	funds		16,17	85		(85)
Other recognised losses
Actuarial (losses)/gain on defined benefit pension			24g	(725)			(725)
scheme
Net movement in funds				(539)	(1,069)	223	(1,385)
Total funds brought forward				3,390	38,393	2,430	44,213
Total funds carried	forward		16,17	2,851	37,324	2,653	42,828