Docusign Envdope ID.. A85A97F￿DE3A44A￿B08E-172118C8l1DB commerci￿ in confiden Northern Ballet Limited Report of the Trustees and Financial Statements For the year ended 31 March 2021 Company No. 00947096 Docusign Envdope ID.. A85A97F￿DE3A44A￿B08E-172118C8l1DB commerci￿ in confiden Northern Ballet Limited Flnanclal statem8nt8 tor th• yw ended 31 March 2021 Compan!, information Company Re9lstratlon Number: IK)947(V)6 Charlty R•gl*tratlon Numb•r: R•gi•t•r•d Offi¢• . ? gt Cectha Streei Quatn. Htll t£eds Royal Patron . FIRFI The Earl of IXe$5ex Try*t••• . Nlr J%i'2%d .IILpoor Nl* C%rol ..Itruwsmith c.llr Judith BlakL I Ir l)Ri]icl l._i'xn$ Ire%igned 31 Nlarch ?0?11 Nlr% l.'i17.aberli Jackson Nlr (-b-i'e l.l()i'd Nlr l)lidii) KLllcr I Ir% Ki.la .Ilulh114 Nlr Kei'ii) ()'1 IAre NlrJi)hJ) Pii?cier Nl. .Inir¥ Raiii Nlr (Irxl)ain Smith NIr Paul Smit Company S•cr•tary . Nlr RichArd f.or*in Artl•tl¢ Dlr•¢tor . Ir DAilld Nixon Chl•f Ex•cutlv• . hlr Mxtk %kn'ppet B•nk•r¥ . Bank PIC 6i-68 Brwxate Sollcltors X'r￿Cl.$ Sohcitors LLP 11) Cvokt"Ldge qtreet Audltors: Cjrant Thomion L,K ILP %r2mton-.luditnr Chanered .Iccountants o I IlhiiehRII RI￿tr￿ld¢ ILcds Lfl 4BN Docusign Envdope ID.. A85A97F￿DE3A44A￿B08E-172118C8l1DB commerci￿ in confiden Northern Ballet Limited Flnanclal statem8nt8 tor th• yw ended 31 March 2021 Index to the financial statements Chairnian'ty r•port R•port of the truste•s Ilncorporatlng tho Strat•gle R•port) Indop•nd•nt audltorfl r•port 16_ 19 Consolidatod statement of financial activities (including c•n••lidat•d I￿•M• •nd oxp•nditsro aeeount) 20 Consolldat•d b*lane• sh••t Company b•l•n¢• •h••t 22 Con•olld•t•d •tat•m•nt of ¢¥J•h flows 23 Not•• to th• Iln•ncl•l •tat•m•nts ?4-46 Docusign Envdope ID.. A85A97F￿DE3A44A￿B08E-172118C8l1DB Northern Ballet Limited Flnanclal statem8nt8 tor th• yw ended 31 March 2021 Chairman's Report F,01 the second ieat ￿ the Re￿rt of the'I ￿Stee5- and the accompan)￿lS Fujancial stat¢mentr- are dnminated b!- the effects nf rhe (.ni-Jd-19 pandeinic. I said last Trear. nnt mxiii actJi"irJes are less susceprible io s(xi31 disrxncmg ihan baller.. nor mereli ihearres sliut Atid OL￿ budding inA£ccssibie lot a loxjg pctts)d. ei'cTh'ont ob]Jged io'wotk Irom homc" but the act ot dince im'oh.e5 IIu5e cuntact Ii1th utheis, necessttating the creitii-e JL'I'Llopment oFu?i's of iTroiking uithin the ndes and the precautions $0 the coinpan!- was readi- tn perfonn when perfornixnce was possible ￿￿Ule o-erJ.oi￿ tsivoli-ed "stxied s%fe" li is wjih pride, thetefort. thxi I teport that th'en. element ts( the compani. has coniinued its acui-Itie5 in lTrhale￿vK uryii. Ix)5sible'. (iur dancers. urchestr2.-Icademi', l£arninK, ()ur a￿1121 PTfJyarntne. nur SUp￿rt and admini%rEam"e teattL%. all hai"e combll￿d tf) rcInaJJi CllRagcd Rnd cohesLI'e w rhai il)e eiliire comp*n!' is in g(￿ sliape %iid read!. f(Ir ￿,11￿[￿-cr cnincs iiexr.. our al￿tIll work. for txxinplt. has aiiracied over tn￿￿0￿ l'it￿,5 in 00 coutiine4. i%kn"tig us to mRns' new aiidiL'n¢¢s. l ￿.￿1¢ this just after hRi'e su¢u'ssfull!' U￿￿(.d witli DAI'id NiNL>ii's Dang¢ruus liaisuos io l£cds and 8hLAd of ilic world prcmierc uf Drew NlcC)nJc ￿ Nlerhji ]ater rlii4 m()nrh. aiKI in the Ki)ou,ledge il)ar 4DJdenr number% in rhe ..Ic%demi' are srri)ng and ()ur onhne clagsL'S hai'e expanded. I'uu rcad ]arcr in thts rqK)n uf ihc i"cn' $mall numlxr uf pcrFur¥nances wc wcrL abll tu %rage in rl)L i'car rew)ned i)ii.' %ince ilicn hai'e hxd s1i()n sea%i)iih in Ihrec i'i'nuL% in luii ?021 At rlle IAYd% (yrand we Fai-t ihc12st pCrf<)m￿i)CC Iherc Ix.f()rc l(Kkd()wii. li) NIArcli ?O?l), And thL, fJr¥t ihtte Afrer k)ckdi)wi). ii) June ?lTr?l and we Arc iii>w cmbxrk'ed n iii wvrkiEiR Ihri)ukFI) xii LinprL,aictL,d. unprL,dictabie And ci)n%tantli- chan￿1?￿ 4ituAtiun'. n(l-()llL' 4h()uld uiiderL'4tiinxtL' thL c(?mplcxitic.% (Trf tchc*r%al schcdu]ts fi)r mrirc Ihxi) i)nc bxllct cc)nturrenili' uryth dancers arranged in separaic bubbles 10 kecp o'c4'une $afc. Nli. ihaiiks to al]. 'I'hank-s and apptcciaiion roD ti) (￿ntral C)C)i-cmmcnt. m particular to D(.Ill%. and t()..lrt (.nUnCLI l..n8iand fot their a￿.￿reNc$S nf rhe cffccis nf ihc p2ndciyJic nij tlie pcifnnyJiJ)g alt%, rlieir r¢%uli jiig policies 8nd ilicir finaiici81 supporr. wiihoui u,liich noJ)e of ￿.1181 I dc4cril)c boi'c iw'oiild hRI'c bcen pos5iblc. Tiic TreAs1￿ % Job Rcicnuon Schcme. Ilie Gowcnllnent Cultur31 Ricoi-er%' Futjd atjd ihi 2ddiuonxl gr2ni from,ICE have Lnablcd 115 io kicp anl'onc'b [￿an¢1a] luss tu a minimum.-11)e supwrtii"c attenti(Trn and cvnstructii'e adi'ic¥ uf thL .,ICE tepresentattves working wirh Notthern 1Sallet h*i"e been siinilarl!" im."aluable. and grAtIy xpprcciared. Perhaps the mvst sjwficant SIn￿e th.ent Fut the cump2nN in tecent times ts the reurement Decembet ?{l?I, al￿nUnced itl Ilai". oFDai-Ki NixotL. nut loyst seThing.IrtLStiC Ditectnl, aFter ?0 hugel!- succes$Fui !-e¥rs oFgrristic leadership. Dol'id rook the le￿C1- of Cl)ri4ropher Gablc atid budi on li io transfomi Ni orrhern Ballei mio ihe internxiionxlli renowJ)cd. commttciall!" thtii.mg compani. it is. tecogniscd around the world for xtttstic LKcellcnce. Dai-id's talent a5 an ￿tiStiC ieadei and the loi-aln- and dedication he h25 cleated In ￿5 dancers are shown b!- the cohesinn 2nd ￿[fO￿T[Lqnce l￿-e15 ￿hICh the cninpani ha% tnaintained a￿lTrg rlie pandemic and are J-ident as ￿¢ reswne performing. Ixe are ven, gratefu] 10 Daiid for all he has done. Docusign Envdope ID.. A8sA97FwE3A44A￿B08E-172118C8l1DB commerci￿ in confiden Northern Ballet Limited Flnanclal statem8nt8 tor th• yw ended 31 March 2021 Chairman's report (continued) l am pteEul too to tni- IK>ard colleayes foi all their attention and dd¥ence iti the coinpany's inieresi. and tn all benef¥ctnrs. donnr% 9]￿ SUP￿￿tr%. ￿.hO lui-e recnyiLsed the atfecr nti rlie cotnpani of rhe FAtTrdemic and resp)nded inagnificenrli to our appeals for support.. donations. csptcJaUI' from indi1.￿￿*15 and (rom Intsts and foundations, are i'cr> strong. thatthsou. l)ur next ta.qk is to persuade iudiences to Con￿ out in person to see us perfonn jii'e in the numbers in u,hich rhei. dld before the pandemic. or grearer. The). ￿111. bur it lake tiine. Sir Dayid W(botion Chair 14/12/2021 Docusign Envdope ID.. A85A97F￿DE3A44A￿B08E-172118C8l1DB commerci￿ in confiden Northern Ballet Limited Flnanclal statem8nt8 tor th• yw ended 31 March 2021 Report of the trustees (continued) (incoq)oraiiog the Strategic Report) Trusteeo report Tht T￿￿[CL5 of Northem Ballet limiitd CNotthern Ballet, or'the Compani,) are pleased to piesent the￿ annual repun tu£ether the cunsuhdRted financial statements uf die Gioup fot the l'ear ended 31 Nlatch ?O•l u.hich are prep￿ed tu ttLeet the requiretnents f(Ir 3 iepuit ()f the m]stees and 8ccounrs wider the (.ompw]ies .Ic¢_NK)6. The financial stattments compli. wiih Iht Chatities .Ict 2011, the Compatiies Act ?(N)6, the NlemurRndutn and.lrticles of ,Iss()CiAtiun. and.Iccounting and Repuninx b!. Cliarities.. %ORP IFILS10?I lseciinn eth'¢inJi (ktnber ￿?0}. The Cirnup cninprL%es Narrhern Baller l.imired aiid ir% qut)SLdh1nes 11)fo t)isplai- limiied. iNorrheni Ilaller Producrioii4 1.imired %i)d N()rrliern IIRller ThcAtre Comp%ni' Oknptm.) Limiitd. Info Displa!. timitcd is x non-chariiAblt Itaf]et th"sttibutiun cotnpani. fur the arts and hirita%i s¢rrui. NorLhL'm Balltt Piuduclluns LiillitLJ is a ()n-chariiable c(Itnpani' u.hich do'clijps and puxluccs baucrs f()r thLairL aiid cinciDa. Norihem B211et Theatre Compani. (Propern") Ilmired is dorn￿nt. COV1019 n IliL ?.Std {)f Nlarcl) •O?O as a rLsu]i uf Ihc cinLrKing C.()I'ID19 p8nJLmic tl)L. UK LIIILLLd ali initial pcri(Kl i)f nxiii)nAI IlKkd(>￿'￿. cuiiing %hi)n {)ur %piii]g i()ur xi)d mArking Ihe L)Ck￿lI]i}llIg i)f x perJ()d nf unprecedented unceriainn. aiid d￿ruptIon r<) ix>ih 6￿￿1ne$% 21)d per%()iial lifc xcn>ss the gl(Ibe. (h.Lr the ciJur4c i)f Vl? (Jur (cars ￿'¢re reali$L￿ Ic)%1 rlic %prii1k￿ aiid .luiuinn ri)ur% aiid ill rLI'LnuL' that rhi% Ii'¢>uld bnii%; p)%itii'cli. hi)w'ci'er $￿'cra1 TM)rLntial ai'ciiuc% i)f fu)ancial 4111)1)()ri werL' anti()unced And ACce%%L￿. (Thiin I￿ Nlarch ?n?l) if) .11>1 (kii'en' I'und {(-Rl'). ()ur cxccuiii'e Itam hai-c w()rkcd c()IIAbi)raiii'LlI' 2nd exren%ii'el&' iii m*ximLse ihe I￿ne[lI th*[ cnuid ￿ r)braii)ed fr()In rhe%e nths ul the i'eat enxbled us to Pusitioin our5eli-e5 to tak-e a(h-antage of e25efflent th the local atLd tLqtiotLqI Ie5tsiCtLons. .15 2 result OF thi$ ￿tre able ¢0 ￿tekS of perfonnances in l)c¢nber ?O?Q at ilie J£eds Plai.house s1)0￿C#s￿)g our rei-ii-al of DAI)8erous Liaisons al011￿]de x inixed progrRIMne of our prci'ious ￿'ork and a ne￿. piece from K¢t￿Clh Tindall. Thcsc pcr(orn)anccs wtrc faniasiicalli, receii'ed b!. 2udicnccs but just as imwjrtantl!. b!. our Dallcc￿ and widcr orgatllsauoo the!.. gai"e us a pretsc￿ttt temthder of￿.hat the ￿￿￿152t1￿tt ts Ionutiu3lli" wutkll¥ tvward5 and whi Docusign Envdope ID.. A85A97F￿DE3A44A￿B08E-172118C8l1DB commerci￿ in confiden N¢Jrthern Ballet Limited Flnanclal stat8ment8 tor tlw year endod 31 March 2021 we are here M"hich ￿.￿5 easi. to fowt auti￿ the kixjg Pet￿)d oFfitrlougl4 uncertainty and sttuggles foi ￿-e￿"one. Tnwards the %ummer {JF_￿_￿ the L'K %tarted tn %ee %igtuficani eas￿ of re8tricunii8 and confthnce renwning to the ans secror and ir was wth ihis colif￿ence we Scheduled x tnini- tour Across Salford. l£tds and knndon ptrlorming Swan tAkt, Dangtrous liaisons xnd a new miyed prU￿r[￿e ShU￿.¢a￿l[￿ ￿.0[k￿ b!..Imaup. Lebrun ind Dennis I'ulpi alon￿lJe excetpt frotn nur Pr￿1￿￿$ works of I9￿ and Jane Eire. li was thtough the lthancial of all ol Ihose oxganisations and indi1.￿ual8 who genL.￿o￿￿1S. Kai'L' to Nurthern B2llL't thruugh_Y)?01?I tIL￿1 WL. aiL' abk. to £L't back in tliL thL'atie ai ei'en ￿SsIb￿ oP￿r￿nIn. and a iesraDKnt to them ak)yide the spirir of the ci)nipan!'. ,4% a bnard nf rru%iees ni1￿. budth.ng to￿.￿1a$ 11?? ￿e are deliglired ihar rhrnugli rhe cff()n4 nf rhe entjre Northern f2mLi5' ￿.¢ art ￿'ell positioned 10 iakt Advaniagt of oprK)rri)tiJiies as the}. arise frum ]ifi nmrning ru'nornvl" 8nd must iinwrrAntl!' of ¥ll WL I(Kik fuLwarJ t showcasu)g thc abth'ries rjf c)ur faiirA%uc daiicers. Inu%ician% aiid il)c cff<)rrs ()f sigff frc)In Rcri)£4 f)ur Or￿li1$￿tIOn. I'nr addLiion21 dciails of our ff)rec2%r for Ihc org2nis%iinii diiriiig ?n?? ple%se see the Cytsing Concern section on page 16. ObJ•¢tlv•s and *ctlvltl•s of North•m Ball•t -Ihe objecrs i)f the l.oinpan!' can be summ2ri%ed as follows.. .1 u pr(JducL Rnd ptrfumj ballers T(J Adi'ancc idi￿#11{)n ift lh¢ Art$ 'l)t ('.lc. 11% h()Inc %iiicL ?111(I Iix betn a gL'i-en *tudi() dAnce centre m the heart i)f I￿L￿5 with a swdi() daiice thL'AtrL'. tIIL. %tAnlei' Atid .ILLdtci. Iluttc)n'lh¢#ir¢. .41ung4idc our and chiidrcn's bAllei tol￿> we also work with xhools and childrcn in thc II)CAI arca. i)ffcrin¥ ci)Ilaix)r%tt%'e prvjL*ts and intruductK)n% tcTr 1SAll¢t fi)r many WL,11 a% m(?re fomial Hallct education. In $hAping Norihcrn Ilxllcr'$ obicciii'c$ for Ihc !'eAr And plaiii?1llR Nurihcm Ilallet's acriNirics. thL-I rustLLS hai-t considirLd the Chxritt. Cvmmissiun's XULd%ncL vn PUb￿C binLfit, in paniculat the gu￿￿tt(C ott pub]ic bEnefit and the chAtgu¥ i)F fces.'I'hc l.i)mpRn!" re￿c5 on bi)x officc incnmc. granr% aiid Lncome fmtn fees and tn crii-ci itr nperatinnal CO￿t￿. In seti1￿ Ihe lei'el ol iickei price$, fee% cliargts and coiicessions, ilie TnLsrees ￿l'C careful considcraiion 10 the accessibLbn' of all acui'ities (or ihose on lo￿ incomes. In the TreAt ￿￿1?1, 59010 of titket5 501d I-￿I91_￿_ 570, I xtr055 the main tout, cliiidten, ballets our perfotmanre5 in ihe %12nie!- ¥nd.ludre)- BurtotL Theatrt were ar a concessJon2n' r21C. Actlvltl•s ol North•rn Ballet In the y•ar Performances The Compani" perfom)td onl!" one lull len￿h prductton of Danxcrous Ltssons alon%sidc a mLxid ptoxramme comptislljg oEexcerpis from pmious pt￿uctiOlls and Kenneth Tindall's %tate of ￿lInd. Docusign Envdope ID.. A85A97F￿DE3A44A￿B08E-172118C8l1DB commerci￿ in confiden N¢Jrthern Ballet Limited Flnanclal stat8ment8 tor tlw year endod 31 March 2021 Artisti¢ Values NorthL'm Balll't is a￿are that attistic tastes are not the same Eor eien'one that, when addtessing some of the more challew thetnes. productions tnjght give rise to ofFence. The (.nmpan!- take.s the nf auth'ences i-en- senow%l!- 8Jid. withnvt cnmprninisjng tli¢ iiiiegnn- of rl)e pwJgrai)Yne. ir seeks to rtspecr rhe dti-erse erhilicin,. fairli. seiual orieJ)rarion and lrfesti'le uFits audiente. Chlldr•nls Ball•ts The disruprioii caused b!- CC)I'ID unfominatel!- led to ilie fwgr rime in 8 l'ears rhar ￿'e had bten unible 10 perform our C￿￿drCrt's Balltis. tKM)kthg ro rht fururt xrt tyciitd ro bt dtbutin% Pinuteknu m December ?O?l. Chorets%raphed b!. our own junitsr soltsist Gxvin NIcC￿g we are all Iix)king forward to the festi17e pen(Kl. Digital Projects "I'he Tesiriciinns tn in-persnn perfrJn)w)ce% Faie added impctUS to (iur Ibp'ial u'nrk and rlu f2nrA%ricall!' shoM'ca%cd b!. our"Pai' as l'ou I'ecl" dwrxl %e%401) I￿.11]c]I iiicludcd a iiuiiiber of new pieces aiongslde eYistJng perf0m￿nCeS ￿￿"ch were offered for free for the fLr%t ilme tllluugh our website. In carl!. ?n?l u't werc fcbrrunaie ctwugh rn bc ￿￿'1rded 161K).IIIK) nf rcsmcrcd uic()mc l)!. rhe (FArfLeld 11 e%t()n I'()und2iic>n u% ini'est Ln i)ur digJr%l e4uipmenr aiid fiiriire dLwTAI s¢a4¢)1)4 *cr()ss ¢he_VJ?Il?? l'iar. 'Ihis mi'esrnK'ni ilc)n%side lh¢ burx¢i)nJi)x %kill.. f i)ILr iii h(JlL*L pr(Kluciic)n Icam pi'c5 w ihc capabth'iics iu capwtc our tvll-$calL perf()rn￿nCcs dixitallv Ii)r rhc fLr%i lin￿. Volunt••rs Ni)rtl)L'rti 1SAllei uses i'olunteers where possible fi)r perf(>rmxnces m the Stanlei aiid ilubrey IIILttI)i)'IhcAttc *[ QuAm' I lill. 'lThis en*blc* N()rihcni IIAllci ri) UlLli4c rhc cxpctrieJ)te Atid pa%$ii)n ()f i)ILr supp>ncrs i(} dclii'cr ali cnhaiiccd cxpcricncc fo)r XiiciiJcc¥. 'I'l)Lre liaN'L bL'cn L•amlng Ni)rtl)crn BAUet works l-Aucatii)n 2nd C.ommutUn- groups to encoura￿ intert%t And en[hus￿￿M fcir dantc 2iid ihcRirc. Nluch (Trf rlic plAiiJicd atrii-ir¥ f(?r rhc I-car citlici- canccllcd or posiponcd dije io fOI'ID-19. alilii)ugli aciii'in. look placc rcm(Iiel!' aiid iii pcrsun whercvcr possiblc. rom SeptembEr_7Tr20, actiiiti. irtt15 inttea5ed on cote pmjects thm¥hout l£eds and 11 est l orkshirc, LJ)cludiiig dci.c1opi￿ ¥cce55 for iiswll}' itnpatred patrojis through proiidijig audio descripuons of NorilicThi Bauci's dwiai dancc 0￿￿Ul_ 'I'he Butbetty" In5PLte proje(t contmued tackie SI￿￿1 mubJh"h" and IRtse awarene%% ()FcreRtn'e c3teer%. l)i%adi'anrAged pupJ]s fr(Itn.3 hgh sch()nl$11 ?(Kl PUP￿5} e[L￿￿d iti tlie prr)ject, bntli in petson And dI￿tallI., i%orkmg w'ith a dance %ni51. fiimmakcr, and sei dcsigncr io crexic dancc lthns and 1.4thI'Creatiiih. Kits. M'ere sent to pupjls at home durinx IA)ckduwn ? O. Dance foi l)atkthson's11-.12nd.Ibd"LTh" {6 partLcipants) bDdi contthued on]itie, each hosting 20 sessions bem-een %eprember gnd Nlarch. The IxarnLng Deparrmejir al40 hosred'lSreakrim¢ Barre, ￿'orkShOps. enabknig org4nisarioiis io offer their staff a genrle, miiidful xnoi'eIneJir scbsion whilst workll￿ rcmoteli.. Fjue to the cancel8rion of both the rnain-Sc￿¢ Ngrional Tour And the Children's Ballets, our Departinenr staff wed the lime io pian for digjtal detsi-eTh- of outreach xcrii-iTh for th?1122 spting scasoty aiming to reach more than 3.(K)O ptoplc through.Iptil-Juli' ?021. Docusign Envdope ID.. A85A97F￿DE3A44A￿B08E-172118C8l1DB commerci￿ in confiden N¢Jrthern Ballet Limited Flnanclal stat8ment8 tor tlw year endod 31 March 2021 In this challenwg i'tar, ￿'her￿"t￿ possible x cotxsistent o( trxming Programmes tnabled NortheIn Ballet to delii"eT hjgh qua]itt" ex￿￿e￿IeS. engagts¥ new audLences and a￿Tel￿ping regu]ar 8ttendees and parncip*nt& The Academy Northem BallL'f'5,Iiadems" pwiides hJ¥h qua]iTh. dance traini￿ for children. !'oun% PL'uple and adult.4 catering foE all kn.eis of abthn. from i"(Kaliot￿l dance rtaining to open classes For recrearinn and firnes8. Diie io COIID the 2C2dems- swiftlj. n￿'ed to dwtal classes enAb]mg m%n}' of our students to mxinixin some ]ink 10 Ntsrihem Ballti and ctsntLnut ￿.1111 thetr tiiition and oi'er the ftrst SL¥ tni)riths of _￿11 wv v/¢lcumed bAck our Centr¥ Fur.4di-3nced .1 rginin£ studL'llts tu Quam- I and CfJJ)unue tn welcome bgck our as%ociares and apen clas4e4 ni-cr rl)e 4ecrJiid half of rhe year L••d* Dan¢• Partn•rshlp Ni)rtlieTn Bai)er host il)e l£eds l)nnce I'artnerslup. a pr()ject funded b!-..Irr% C.()uncil I'.nkTrlaiid which ainLS ro en%Lwe rhat grear datKe is creaied and pre%enred iii x ￿lde rAI)ge of bpaceb in l orkshtre, th¢ N'orih and ￿.!.()nd. dth'el*)pin% lh¢ xit (unn ltscxlli'> n*tiun*lli AJ)d iniLrnaii(JJ)all%'. 'I'hL p8nncrs includc Xi 'OrthLm BallLI. PhuLni¥ D8J)cc C.c)mpxn!. l.UTJiILJ I'Pl)(JLtlLX I)Ai)cc). I'i)rK4hire l)iiice and N()rilicni.%ch(M)l i)f C.i>i)Icmp()ran' l)aiice. l)uc r(> rhe C-l)1'11)19 dLSNPtion minimal 2ciivin' look place oi'er rhe ?n/?l l'ear. Info Dlgpl*y Llmlt•d Inf() l)i%plAI' l.imiicLI I'lnfc) l)i%pla!') ]% a whc>ll!' i)wncd %ub%idiars' ¢)f Ni)nliL'n) IlallLI. li disirLbLLtLi4 ieatlL¥r% fi)r the aris And heriiARe %ecii)r in l-()rk4hire atid I lusnl)cr%idL. Iiif() l)i%plxs'5 AcfLI'l1ies are c()n.%()IMl%ttd ￿rythIn Ihe fin%ncial %i%tement% flir tl)L' I'L'*f L'iidL.d .11 NIArcl) *11•1 'I'riding SLupILi%es from Info Di$pia!-'$ actiiiiics will bc used ro futthcr rhc and ubjLcriTr'cs {)[ N'()rihLrn IlaliL't bi- a wft aid d(>nati(>n. Por det2Lls of Infi) l)i%pl21 s tr2dmg and net *s%eis see Note l i tn the fm2nciAI statcment%. Northern Ballet Productlons Llmoted Ni)rthi'rn BAIIL'I Iltt)diLCticTrn% lamitL.d i% 2 whull!. vwned substtlLq4' of Northern Balltt. It dN-el()ps ai)d pt(xiutcs ballcts. The xcrii-itics (Trf rhc compRn!- are t1)n￿()ll"d￿ted ￿'Irl)ll) Ihe fin8iici81 sr8iettLeni$ for ilie ie¥r ended 31 Nl¥rcli *o•I. for dei8il4 of Norilierji 15aller ProducrioJ)s' lo￿1[1S 8nd nei 8s$e¢5 qee Noie l-, io rlie Fin¥ncial sriremenrs. Northern Ballet 2ctii'eli' explotes wxis to dei'elop othet actnitte% to support its chaLitRble 2iins and nbiecriYe%. Tr) this end it seeks nut Oppnminiile￿ If) liite fjur ai'aiiable ￿[udin space& wheii rl)e compani. are oli rour and io uijlise ihe swth'o ilieaire to the fu Fundraising Northern Bailer putsues a bmad apptf)ach tf) Eundraising, dtawn fiom pLiNate yNJng, C￿t￿)iate enri¢ies alongsjde Trusrs ajid Foui)d¥tions. Norrhtm Ilallei benefits froin the swiific81ir support proi'idcd bi. a wdc range of itidii'idijals Aiid ei)iiiies wiihoiii ￿hose $14)porr wc could not cam" out Ihc th"%'ctse range of acui"itics u't cutrcntl!- offer. The D￿'t10pment team ￿thin Nurthem Ballet ate tesp()n5ible for the fi￿a[￿SIng aitiiities acr055 the otpntsativil and Trve d t￿¢ Ihird parttts to cam oui fundraising acllrxtie% on our behalf. .4ll of Norihern Ballcis funthaising conforn￿ 10 Ixst pr2cticc within the scctoi as well as Genetal Data Protecti(>n Regu]2titins (GDPRI ensutw that ￿￿11￿duals can opt out from ani of out catnpagns. Docusign Envdope ID.. A85A97F￿DE3A44A￿B08E-172118C8l1DB commerci￿ in confiden N¢Jrthern Ballet Limited Flnanclal stat8ment8 tor tlw year endod 31 March 2021 stakeholders Out staki.hulderi SUPPOrt our ch￿itable.4¢lI1l￿ies. In additiotx to the funditxx reteii'ed Erom .lrts Councjl Eng]3nd t£eds Lin. Councd (Pa￿ I l). Northern Ballet r3ise5 funds fioiii ant Jncrjnr, s￿￿$￿r￿hiP ¥nd dnnaiinjis rn svpporr its i-lbrant proyamme oFpertormances. learnitig acrtviries and classical dAi)ce rr*iJiing. Northern Ballet has term suwrt Frrjm pub]ic entitie$, including throu￿ the Job Rerenrinn.%cheme.-lrts l_nw)cil F.J)glxnd And l£eds (_in- (_nw)cil. Tl)e cnmbined SUP￿Tr from pubhc eniiries represents ?019/NI.. 41°,.) of Norrl)ern Baller's Lncomt in rlie Trear (See Finxncial Rel'le￿._ page 10.1 This significant mcrease is diie ro Ihe10ss of signifjcxnr box- office Jncomt oi'er tht lear and xppts)ximateli' £? 4m in fthxnctsl support reteii'ed from pubhc entiti¢s as a result of COVIDI9. Northeni B2Uei is i'try. graitful for ihe sie%df%sr 2nd incttased %iipp)rt froin Ihtir P%irotis, BtT]L,latiurs and Dvnors tkns !'¢2r in iespunse tu iht ilYJP3tis uf the pandeitiie and twu irL'ry 5UCCCS￿f￿l Fundraising Appeals.'Pa!..4s I'ou feel, Dw'i81 Se¥sun and 'BrJnkTr Back thi Nlagr,. lil adth'iian. we wnuld hke rn acknrJw.ledge nur parricular rhxnk% fnr the cniirinued pxniier$hip wirli (.()tp)raie Sp(>rn4or k1eitil￿'oft I l%mbro%. Ni)nlieni 14Aller c()i)rLnues In f()srer %rri)ng tLlaiionships tange of trusts and four￿￿[10n$ ￿Ph￿ suppuii ihe cuinpAni' aiid SPL'tific prujLcis rhruuKhoui carh %'LAr Hnd ig Th. RpprLciarii'c of ¢hLir fltxibibri io clianxLS and thLir cunrinuLJ ILfJil'81-cnnx and grncwvs supp()n. 11 c wY)uid IthL' ru Jocuynliir uur Ihaiiks 1(J Ill r1104e ￿.hO have %upp(>rred LL% in the lasi l'ear uryrh special il)anKs to rhc f(>ll()￿1)g nwiiisatii)i)% for Ihejr i'en. generous donaiions". 1SLLrbem' I'()und2tiim 'lThe [..n￿raId I'i)undation l.i)Ilc l.c)undxiic)n CyHrficlJ IXe81()ii l.i)undaiion John l.'Ilcnn*n I,vund#iion I￿l-crhulmC Trust 'll)e Linbur%'"I ntsi 'll)e Iu. AnJ'l cm. ljramau foundation Paul Flarnli￿ Foundaimm Strateglc Report 'I'IIL. StriiL¥TriC Repi)rt jiici)r￿rareS rhe follo￿tyn8 sectM)ns'. the Financial R￿￿¢￿. the Future xjid Rj'sk Nlanagcmenr. Flnan¢lal r•vl•w. Trading Rcs1111s for rhc icar endcd 31 Nl%rch l)?1 ShO￿n in ihc Consohda(cd StAiement of Fll)ancial.Ictsi'itses un paxL ?1. Thc assets 2nd bAbth"ttcs as at 31 htarch ?O?l arL ghuw) ll) thc ?? Tjie fJnAncia] %tsreinetLts shnu]d be read in ("nn%nlidated Balance %heet rJJl P2F_ conjunciioii wirh rhtir relaied iiores. which appexr otL ]yw% ?) 10 4-. And hai'e beeii prepxred in accordance wilh rclei'xnt law 2nd the Chatiiies ftatcment o( Recommcnded Practicc (FILS 1021 October ?O?O editiun. In 5umm2ry, CiDJUP Tret Incomjngllout￿tsl￿ te50urces Eoi the !"e2t ￿'ere L..? 30(J,114S I?o?o.. I£I.IPA.64?l inclditLg P,3NI.-4n I-W_W: ￿1.14? 8-111 rela¢iJig to the l.ompwi!'. IX.irhJn tl)ts alue, £131.813 1?090.' £.131.813) represeiiis rhe iier ourpu)g m￿'eme1)I oi) The Building Prujeit F.und ￿rythin restsicted re5eTh"es (nute_i). .lll fi￿dIng tecen-ed to suppurt the Qu3m' Hill building placed kn the re5tiiCted Eund atLd is matched bi" the 35set coll￿tt￿Cted. Docusign Envdope ID.. A85A97F￿DE3A44A￿B08E-172118C8l1DB commerci￿ in confiden N¢Jrthern Ballet Limited Flnanclal stat8ment8 tor tlw year endod 31 March 2021 10 The annuxl depreciation cost lot the Quam I Illl 01£134,141 be charged a￿lt15t the re5tiiCted tund oi-ei 99 IEat5. Nonhern Ballet 8¢￿er01¢d 8PPEniiInateli IIP o [￿_￿.. .SW'ol (If its Jjicnme frrjm nperatsnn4 a signiflcanr drop due io ilie reduced acrTr'in- l￿-Cl5 resulniig from CC)I'ID19 And could not eiist withoui the support of Arts Councd England and I£tds Cit5. CounciL The iable below set5 Out the ka fundWsj￿ income receii'ed ui the }rar. Group Fundraising Income- Major Funders atMI Others In¢tease/ 202(I IdeLte#se) £tKA) £'ooo 3.11? 57 174 2021 £￿00 3,169 500 200 692 1,771 1.037 7J69 .,Iris Council F.ng12nd- National Ponfoho .Ins Cuuncil l..ngland- Oih¢r Leed_% ('.in- (.nunal (-()1,'11) 19 %upporr Job RL'ieniion Scheme PLttur[t￿￿CCs IT￿ Tuvrin% 692 1,685 304 2J 4,L)".9 The Tnistee% belith'e ih#i our u8u*l Kei. Perfc)rni¥i)ce Indiriic)rs ire nut relei'ani r() ()iir 8Ctil'i¢lL4 diLrinK ?{}Yl/?I duc ic) Ihc ¢xrcpriiJJial iiarurc c)f iliL l'ear rc%uli ()f ('()K'll)l () but the rcsult5 arc included bclow.. 2021 ?O?D Increase/ (decrease) ,.li'L'ragL,'Iheairc ()CCLipAnci' IXl2in'l f)ur Nlimbcr c)f L k Pcrf()nn*ncc$ c)iTr Nlain'l'our NLimbL'r i)f UK (-l)ddrLii'% PLrforn￿ncc$ IckL'r I'ILld- Nlxin'lf)ur Tickci Yicld- (-hildtcn'# Ilaucts 75.1. 108 1.30 11081 £24 (i61 Income l)iil)lic I'unding v Generated Income fj/. 410/0 s￿/￿ io°/. 14?n/.) Pricing policy 'I'u i.ll.￿. uur ptugramme atml fvr (uller detalls uf ticket prKes and thscount tems and cundittuns i-tsit vut web Siie wTrTrv.nurrhernballet.CUnL'I'Kket prices tange frum £,? tu £.65 Mdi 5iVllfic£nt (h"scouttts g1'a￿ab￿ Chdate￿ sCEl￿)Is, gtnups and concessions. The Future: Actlvllles for 2021122 O¥"ei the end OE Ntai" and eatlF Jutte ￿?1 ￿'e conducted a'mitji-tout" cotnpiisii¥ of a u.eek in %altord, a week in lAindon and ￿'¢¢k$ in Izeds. .4$ rhe cottipani inoi-es ijiro the aurwnn wc c.xpcct to catr), out a full-sc21c tour around thc LK as we teiurn to our t!'.pical Icvcls 4)f There is ¥ risk th¥t qhoukl the rouring sin]arion re$￿Ting From C()ITJFJ19 deteriorate some or all ina!- be lo%r bui the orgxnisation are confiden( ai prtsenr thAi wlu]st auth.tnce numbers mai. be reduccd ￿.￿ bc able to h21'e the Dational ttach we would Lxrect to haie. Docusign Envdope ID.. A85A97F￿DE3A44A￿B08E-172118C8l1DB commerci￿ in confiden N¢Jrthern Ballet Limited Flnanclal stat8ment8 tor tlw year endod 31 March 2021 Funding The ciittetxt,lrts Coutxcil EnOxtxd [0￿-}ear lundJx4 #￿emen4 which tuns tts 31 Nlatth ?0?2, awarded s￿￿ual funding of L3.11?.(MX). 'Ikn¥h t1￿ second half Df _W?I we hai-e been awarded yanis frnm bnth .kns c.ouncil Englgnd at￿ the C"ui¢ural Recni"en, Fujid Jji exce4$ nf £1.8in helping 10 negate rhe approNun*tel!- £.l.iin of lost 14oN C)ffice rei'enue as g resulr of the COVID19 uutbte2k atMI sU￿tYU￿￿I iesttituuns. In ad(hrii)n ro these grant awards Nonhern 14aller has akn made full use of knth il)e Job Rerenrion %cheme and Job Support scheme where possible. Rlsk Management General -I'hc-I'TUStees hai-e wen cnnsKleraiion io ihe major risks to which the Cjroup 1% eipn%ed and sarisfied rhemseli'es rh%t si'srems or procedures Are e41%1)b"shed ro manxge rhoqe ri%k4. The Trusitts hai'e in pl2ce a forn)al nsk mxna%tmeni process io Assess ri%ks and llnplement tisk mRnA%¢tnvnt strat¢￿s. .1 nsk rcp%t¢i id¢ntJfJ¢5 th¢ np¢s of risks tli¢ CJruup f2C¢'S, priijririses them in ierms of hkebi)CKMI c)f i)cCu￿ence ¥J)d pi)teniixl impxct and identif*s tl)e mean4 nf initwariiig 11104e ngkg. -l-he Ri%k Re￿￿1er ]% created rl)e %eiiinr inaiiAgeinenr reain And rt'i'ieu'ed bi. Ihe'l'nLSt¢es bi-annualli" xi Ihe I'inAn¢¢ And Cjenetal Pthp()ses C.<)irntiillL'e tncLiinxs. U%inx illl frwDL￿iurk uf Ihc i5usu￿$S Pian ¢(J Thl?? IhL risk TLKi%ILr cun4idLrs )i'Lrnance, clLiriiable aiid irading acriiiiic%. exreniAI facri)rq and ci)Inph"Ancc law ￿}d rewi2rLon%. Ti)e ff)Ilowin& kei- risks hAI'e been idcftiified. Charftabl• Rl•k -I'hL bLI.4jlIL%% plxi) aiin$ ic) dci'cl(Jp ihc use i)f dixiixl media i() criwAgL willi currLllI, l)Lv ai)d 'Ihere i% 2 ngk ihar the (iei)L'rAI I)aia l)ri)iectts?n ReknilaiLI)I) rtsinctJ1) ci)Ilecring d%ia ii'ill *]￿lfIC*nrlI. b-mit il)e (iTh>UP'% xL)ilii!- Ii) dL*'I.I()P Aiid m8inr8in audi¢nris.'111i% l)#5 bcin tniiwJicd b!. lh¢ ¢rc8ri()n i)f 8 ()l)l>ll 11 (IrkiJikT ()ri)up ui)JLr .hich data inaiia%cinLni is tci'icw'ed aiid a ne￿ mcinJXr¥￿'P schcinL Iiab bcLIi ciLatLd. l(Jl)l?Kl "I'hc bLI.%JI)L+%% pIAn tc> &hi-cr qLth￿￿'. stLsi2inabic %rt¥ pr(¥rAmmcN. tlic C.hariN' carLiI'N ()Ut A btt)2d prciKrAi))mc i)f work ￿.11￿ Ch￿dren 2nd i'uincrablc %duli%: AS a rr%ult IheLI' 1% xn iiilici'L'nt ri%k ()[ a child pro¢ecii()n failing. 'lknc r.h*riTh. his iniiifAicd Ihis risk bi. crcaiiiiR a %8fcgiiardiiig Committee xnd x SafcgLkn1rdinK Pi)bc!' is ratified b!. (he B(JArd of 'l'ru%lCCh. ,lll LThplvvcc workL"ng Mith children And iwlnerxble adults receive c.hdd l)ruteCtt()n External Rlsk "I'he l)usiiiess plan aims io rrnieu. 8nd dei-elop inrtrnal IT io ejisure excellence and effJcienc!'. T]ic C.harir%' rccogni$c$ iha( Iherc is a risk ihar a daix brexch ma!. occur as a rcsuli of a tnahcious Act￿￿. Northern Ballet mittgate5 these tis]ts bi" mamtaLnm8 1.1. 515teins, prutettike software 2nd $t2ft rrai]]i￿. Financial Risk The main nsks atiSll¥ fD)m the Group's flnanc￿l ￿￿tt￿nen[S arc credit nsk xnd hquidity risk. The T￿￿tee% teI1ew and awe pohcAes Eni ttLqnagll]g each rif these ti$k￿ and tlie!" ate swnm8nsed below. These ￿liCi¢S h¥i-e remained unchanged frotti pr￿jou4 i."ears. Llquodlly Rlsk I'he Cy￿Up 5eek5 to many fit￿)CIal ti5k bi ensutit]g sutfiuent hquiditi. ts ai"ai]able to ineet Fore%eeabl£ tLeed%. %hrJtt-iertn tieiibfjin" is a(hi￿-¢d Ihrough ai-aiiabk cash ba]2Ace% and a strong relationship Thqth irs bai)k Lloi-ds Bank plc. Credlt rlsk The C.ompAnTr's piincipai 6nanciai assets gre cash gnd trAde debtors. The cre(ht Iisk associated th cash is ttLqn¥8ed bi" yrows m8JlWiTJ¢nr of cash tknw and detailed budgeting. The Trusiees Miew cash flow at eAch board ineetll¥. Docusign Envdope ID.. A85A97F￿DE3A44A￿B08E-172118C8l1DB commerci￿ in confiden N¢Jrthern Ballet Limited Flnanclal stat8ment8 tor tlw year endod 31 March 2021 12 The Del-clopment tL*m maintain close contxct uryth all donors and sponsots pIoNidin% ongoing rea5SUtance oi.ei pledged donallons 01 swnsorships and thelt ]ikeiine5s of receipt. This prnyides canfidence over fundrai￿ tArge¢s gnd"earl!"_uran]ing" Should pkdges be rythdr¥￿￿. Other trade debtor% include the¥tres. cnwr¥re rental space hire 8nd ?cademy fee4. Coiitractual agreemei)ts benveen ilieatre%. 0)ry￿rat¢ s]M)nsors and space renr%l ser rhe liinirs for Ihtse dtbiors. The Fmancial Nlxnagct M'itws all oiiisianding dcbtors on a regthar basis xnd prompt Action is taken to ensure recoi-eTh- of an)- outstajdiiig debt. R•$•rv• Polley Re.4etTr-e4 are needed in bridge rhe gxp bemren rhe %penth'ng xnd receii-ing nf re%nurces wid rn coi-tr iinplanntd emetgenc!. 2nd oiher eX￿ndi￿re. The resen'ts required l)}. x bxller coinpAni' in A pentsd of uneerixin fundi￿ ma}. be Rteaier thxn tl)0se wh1.ch M'ere required itx I'earq ￿,hen funding was mi)TC Ccrtaio. lo ihe short icrn) the I"ninpanN musi piaii fnr peri(￿% with reduced iiicntnt for exainplc u,hei) ir is noi rouni)g. li MLLSI Al40 coii4ider ilic loi)gcr icrm plan ￿,1}ich will iticlude ini'tsimeni in pt(Mluciions and assets wkn.ch xre requlred m order for the coinp2ni' tu muN'¢ f(Jrw8rd into futwt %'eArs. The (".cimpaii!' % re%en'e ￿￿'Cl. i% rr) %eek 10 hnld appri)xiinaiel1' 8 week% nf plxni)cd inc()tne a$ ca411. -Ihi4 rawei i% ciwrenrl!. [.l.7(M).(KN) IY)?O.' LI ?94,.1.1.11. l)uriiiR_Y)111 rlie c2%h xiid shott-tcmi ini'L'iimenis AT !'¢%ii ¢nd 14uAi¢d io l8-, of this ¢arxL't l?O?i).. -,o' ,,) As A result of rliL i'Hriuui LOI'IDI<) and JIL5 supporr rccLii'cd and ihc lack o( tuuriiig LxpciiJiturL. N<)rtl)L'ni IIAllei ci>i)%Mler% it iinp()rrAI?t il)ar A chxntable c(>mi)%i)1' 41)()uld urilL%e il% %*%LIN 211d re#()utCL'% r() rhL, full 11) Achith'L' 11$ cl)ariiable PLLrp()st*. ..It Il)L' %amL' iimc-l r￿￿Tee¥ Art iniiidfui <)f Ihcir tc%p()ii%ibilii%' i() cii%urc 11191 N()nhcni l¥all¢i i$ 8 P)LJ)g ¢()ii¢cm.'Il)c'l tUSl¢L% 8rL' awarL i)f rhL chAllcrikTC% fc)r a charii!. in iimc% i)f uiiccriaiii fuiidinK And o)n4cqiiLl111!' (() build IhL, (.()mpii n!. s re%th"ence. ,.In ini'e%tmeni fund hA% bcen crLAtLd iiit() whicli aiis. IL&vxcy rcccji'cd b! N()rthem IJAlli't uryll bt P￿Ced. ReM)urcc% Are mAnaxed And c(?Inlnlttcd ￿LthIl) A fraincu'ork ()f fui¥iicial planniiig Ihai cn%vrL% Ihc C'otnp811!. lia$ boih sufcicieiii rc%L Tre% Hnd quid rc$c)urces 1¢) f121fil rlie cc)mmiiinciii$ rliai li cnrcr% tii(o. 'llii. Ciroup'% unre%tricted re%er%-e% Al 31 Nlarch 20?1 were £? 5.14.91(Tr (ryl_￿.. £181.4111. .1 c?tAI tesct%-e% fnr thc Ctrt(?up wcrc Ll4,9-..i,11191?0?O.. Ll ? ()6.i,9-.4j Inoic ?.5) of whith Ll ?,44[1,1189 l*n?ii.. £1•.484,i43) 1$ aiiribur8ble ro resiricied re%n'es. 11 Jihin reqrricred reqeTh'e% 8 1)8lance of Ll1,666.04? IIIII.. LI1.-. 9-..85il rclaics io ilic bui]diiw pwject fund. CJn)up balaticc 4hcei at 31 Ilarch ?O?I shvws net CL￿rent assets of I'.-.-. 10.8601?0?O.' £.i8-',195) xnd bxnk balxnceb of L809,8_101?n?n.. L9(Tr1.9.i61. .4 &.5¢￿$51￿￿ ofper(otm￿itc dunng rhe veat ¢an be fnuJ)d in rlie filianc￿l r￿.1¢￿. seciion aboi-e. Northcm Bxuct A frcehoid storage facth"n' in ILcds And thc surp1￿% Rrising from thc %-aluativn dutin¥ the 201?1 i"eAr (Trf this facJh"h" LS mcluded in the unrEStnttvd rvt-aluxtivn eseThe. Included ￿1th1￿ te5enes ate atnounr5 desgnaied bi Ihe board for allocatinn tn iiew producriotLS, these reseTh-es ￿tre de$wted follo￿.1n8 rhe in4uraJice receipr* AS a re4uit of the flooding ai our Siounon slic and damage ro existing producrionq In Addiiion, rhcrc is desLgnated teser%-e Antu ￿.h￿h all lepc%" receipts are p]aced. 'lliese futxds ate then transfetred intn nut Piyed asset lm-esr1nent.￿ In piffi-ide a ￿}￿-[ell￿ fftcotne nnce placed an ini"estment ihese funds are orLI!- 8cce$sible bi. dispo%iJig oFthe ijii-esrnieiit%. Detailed anxh'sis of the Gtoup's resen-es can be found in the Consohdated Statement of Fll)atxcial.4cui'itses (pxge ?]) and note ?) to the xccounts. Thev are considered adequate in the cotLtext of the GIoup'5 futute plans as set out Docusign Envdope ID.. A85A97F￿DE3A44A￿B08E-172118C8l1DB commerci￿ in confiden N¢Jrthern Ballet Limited Flnanclal stat8ment8 tor tlw year endod 31 March 2021 13 Inv•stm•nt Polley ,Ir 31 Nlarcl) ?091, Nonhem Baller held ini-estmeiir funds to the i7lue of £2.305.980 (?020.. £6_5..769). £-40_Tr.480 nf the are mansged b!- Rednialiie Bejitlei.. stnckbrnkers, iii actoidante ￿1th thL po]ic!' tstabhshtd bi. the TtUSLL'ts ￿.￿lth has a dLFmtrd approach t ini"esr¢nent risk and rewrn. The reinaining £-In represenr$ cxsh on shorr renn deposir ￿1th TN*tee* 'I'he-l Tusrees in office thro¥hout the l-ear. and theit inreiests the oidinary. shares of Northem B2Uci ar Iht ttlu'anr daics. As rtcordcd m Ihc re￿￿ter ma￿[2]ned b!. Iht fompAny in accrjrdgnce uryih ihe praiisio￿￿ nf the cA)Mpa￿¢S.￿Ct. these were unchayd wth all %hare% held bi- the ChairttLqn. Tlie irustees are also direciors of iNonhern Ilaller within rhe meaning ofthe (-oinpanie$ Act Appolntm•nt of Trust••J 'hc C.tstnpan!' aims 10 cttart a dri'etse Board a bro%d Jnix of skllls and cKpcritiJce4. ￿'1th meinbcr4 drawi) fr¢)m a wide cross geciinii of 4ociern..-I rLL4tce4 n)rxie on 2 regular lJa%i4 ro ensurl Il)ar ihe buard TLfvI!' rcceii'cs ihc iniLYiion uf frLsh JJLas aiid Liirliusiasin.'I'hL NomLnaiLI)ti% ('ommiriee monitors Trusrees. sk￿* And identifJe4 skill gAP%. Prc)*PeCllI'e ru%ice4 Are MlenrifiLd bi. ￿arCh. which cc>ukl uiclude inir()ductii)ii, rec()iThnciidxii()11, i)r Rdi'Lt¢LscmL'I)i. ("8nth"daies are ijii'iied i(} Jne¢i rhe N(JJyJiJi8tii)n% (-()Inmiii¢L AJ)d S¢J)j()r latlakYLmenr'l cain bef()re reci)iThnendAii(>n% Are inxde tlie Ili)%rd. 'I'lic liidi)cri()i) l)r()ccqs cn%urL* thai all I)e￿ I ru%iccs rcccii'c a cupi. c)f ilic (i)mp8111' % Wll'CnlinK JcKumcni, %ixiuicin' ACCI)Ut)ts And rtcL'tit mii)uit.% iTrf .1 rn%ree% metri1)￿ liwtlier i)IhL'r curi-L'l)t prii)ied dL'TxJI%. ru4lLL4 AfL enci)uraxLd tc) I'i%ii N()nhtni IlallLt ti) gci t() kiiiN Lmi?li)!'cLb xiid kYAjI) a bLiiLr LLndLrNrandiiiR (Trf dai'.Ic)-da!' Aciii-iiies.'I rusrcc$ arL als() ciici)urAgLxl Ic) arrcnd all i)LTh. ballLr pr()ducrL()n%. Go¥•rn•nc• •nd D•¢l•lon M•klng N<)ttl)L'tti IIRllci i% A ci>inp*ni. limiicd l)!- lli)wcd. %ubjecr tn an}, mAtenal deparrurL% di%cli)%ed 2nd explxincd ii) rhe fii)anci21 %fAIClnCll1%' Ai)d prepAre thL, finAnci21 %taremenr4 ()n tliL' ci)i)cen) ba%14 unless ir is inAppr(>prLAtL' r<> pre.4uinc thai thc charitabk. gr(>up wdl ci)ntiiiUC iii bu%ine%%. 'IlIL'I ru%icL% arl rL%P(In%iblc f()r kcL'ping adcqitaic Acci)uniiii% rcc()rds iliat xrc %u(ficiLIii r() h()￿. and Lxplain thc cliirLlgblc ¢c)ynpan!' s IrHns8¢1inns aiid disclc)4c ￿.1117 rLAscinql)IL a¢cura¢i' At anTr' tim¢ rlic fiii#nti#l piisitic)n c)f ihc ¢h*riiAblc ¢i)mpAI)!' #i)d tli¢ yi)iip and Ii) ¢tiAI)Ic Ilicin ti) £'n41￿e thai thL, finxncixl %tAtcment% c()mpl!' the (.()mp2nLC4..Ict ?11116. '1'hLI' 2rL al%t> rL4P()nsiblL f()r 52fLxuardin% thL 2SStis f)f thL chariixblL Cq)Inpaii!' And thL xr()iip Xi)d IiLIicL fur rxkn'iig rea%i)nMblL Sie￿ for ihc pro'cnii¢)n aThl deiccuon vf fraud and uthLr irrcgularitics. Thc TNsice% crinftrm rl)at'. %0 fxr x$ each iru$iec ts a￿.￿[£, Ihcre is no relci'ani inf0m￿li￿rI of which Lhe rharirg1)le rornpatL!- $ 8udiior is un9￿.￿re. atLd thL-I'rustLL5 hai-e taken au steps thai thL!- uuxhi to hai'e taken Xs trustees in urder tu ttiakc Ihem8cli-c$ ￿￿-0[C ofani" rclJ-gnr gudir infortnarioii 8iid io e%iRblish th8r rhc ch5￿12ble compAns- 5 authtnr is awate of tliat inFoimatinlL 'll)L .1 rnslees are rLspunsible (ut thL maintenance and mteMnt¥' uf the cvrpurat¥ and finxncixl inforn)aiion includcd on ihc chariiablc compan! s wcb$ite. L£2i%lation in thc ITn]icd Kiii.gdom goi-crIiiii8 ihe prepar81ion ¥Jid dis$etnifL8tiorL of fLll¥JlCty] $txretnents maTr differ frojn lep518tion An othet juttsdLCtiOn5. Internal Controls Thc Trusiecs hai'c oi'ciall respons￿￿"th. for the sistcm of intcmal conttr)I for the Group. Internal C.orLtr(Il proces$¢$ implemented b)" the Tn￿1¢¢￿ are as Follows.. ..1 cojnprehensii-e anjiual plannLiig 81?d b￿Jg¢[l￿ process, ￿.hICh is api)roied b!- rhe Brjard fjf Trustees. Rwnfi ate made tfj the Bnaid oFTrusiees at eacli meeiijig. u,hich cumpare actual tesult5 against the phased budyEt and futecast. Producrioi) of a deta￿ed bwsinesq plan ￿.171Cli is regu]arl!- Mit￿ra. .kn.1i￿lt Committec ￿'￿"ch holds mectings at leasi N'ice 2 l'ear. The.luth"t Committee reports d￿Cc￿l. io the Lk>ard of Trustccs. Dele¥ation uf authotiti" and SWYFtiun uEduties. Docusign Envdope ID.. A8sA97FwE3A44A￿B08E-172118C8l1DB commerci￿ in confiden N¢Jrthern Ballet Limited Flnanclal stat8ment8 tor tlw year endod 31 March 2021 15 IdenufKaiion and ￿Me￿I of risk Golng concern ,15 Ptimarili a tourit]g compani iNorthern Ballet are in a uniwe Position ￿thItt the Arts. . touring prnirydes Ik)i ()ffice receipis frnm each iejiue sn tn ir pr()duces a range nf cnsts due to equipinenr hire. Mldiiion%l siaffmg and n￿rKeting cosrs %moi)gst others. The contribution deni'td Irom our iOiLts Ihtoughout ihc i.txt is dcptndtnt on ihc i'cnucs and Itpttioirt perfutmL'(L ￿th 2 npiial l'ear b[]￿l￿g in Ixii officL' iniuine to cui'er thusL. ditL'Ct cust¥ UE operAting the tour 2nd A contributinn to iouring stafFSAlar￿s. Hi)wei-er. f(IL manir i-enue rouring is a ner cnst in il)e o)mpaiii' and in reducii]g il)e IncArinn% being rnuTed tn li 1% possible ro reduce rhe oi"er2ll flnancixl ouila). ro rhe organisatK>n. ,.1 number of %ieps u'ere raken io reduce cosis rekniing io rhe c%ncelled roi)rs whjch mirigAied the 1085 of titktt rti'enue xnd xlon2side the Goi'emmtni announced Job Reitntiun.%chtme S¢lf-l..mplui'Ld Inrum¢ %upwn Sch¢tne ail of uur staff I,rc¢iAnccrs u'¢re abk. tu b¢ uppnned ai eusting salar)'/fee lJ"els dunng the perM)d uryth Iio current redulldanc￿% nr Inb Insses. li) rotal Northern Ilaliei received ￿-e[ £? 4m in support knked io C()V119 through rhe Cultut81 Recoi-en. bund 8nd rhe Jub RLienriun $¢heme BE￿%¢11￿ fi)r Ihe ??193 1e8r h8s beetl ¢unJucied as$uming a ryiurn ¢0 n(Jrm818udi¢iicL siLes ni) c¥pcciatiuns of disruprioii> iu r￿TfU￿￿1)ceS. In ¢l)c absLnce uf ()il)L'r xvailRblL. darx. rhe 11()Ard cciti%thrs ui)hkel!' IhAi ￿-¢re there i() be inaierixl di%rupri()ii r() l)u4iiicsb xcrii'irics rhxr would nor be offg.ei bi. a return of rhe fmancial suprM)rt ihar beeii presenr dwing ?n201?1. ("LLrrenil!' Nf)rthem 1SAllei are a￿aLl]ng f()nn21 ci)nfLmiAii()n fri)m..Iri% (.()uiicil l..iikylxi)d i)f the r<>ll-fi)rwArd ci>re fLLndinx fcTrr the lTr??l?.l }'ear wliich L% due ri) be Ani)()uJ)ctd li) t2rl!. ?(}?? Ir i% ¢()n4id¢rcd N'Ln' unlikcli. il)#r Ihis *w#rd ￿111 n(Jr IK. but ¥hi)ILld Ihc i￿.?￿a bl Jn8tLri#lli' diffLrLni fri)In Ilie Pr¢￿-]￿l￿$ a￿*[d thi% wi)ukl liai'L a %1￿)I(1C2nI impAci ¢)ii (jur xciiirlliLS aiid IliL rL%S{)LLrces Al'ALiablL,. NILiis*iing acti(Ins %uch 2% Ki'lt1idr2￿,1] i)f triurin¥ actll'lTie% tlu'iiuhFlI ?11??1•3 c*7) be implemcntcd as r¢quir¢d io ¢n*U￿ the otganis*ti()n t¢mAins A yiins c()nccmi. lil thcit cc)nsider*iLI)l) c)f p)ing ti)iitcm. Ihe'l'ru%tces h*i'e Al<<) gii-ci) 4pctifit IcgRrd i() rl)e C.()iiipan% % T￿1711(>]1 8rr8ll%cJTJclli%. Ni)nhcni 158llc¢ is a panicipani in a JDulrJ-cinpli)!'cr l)Lfiiied BenLfii Pcn4ii)1i Schemc -'Ihe Pensicm %chcmc for..Idmini$irxii(Jn and .1 cchnical Siaff iii Ihe ,.lrts. ,.Ifter making en4uiries. the Bvard has x reasvnable expectatiun thAt the C.i?mpAn!" and C)r()up haie xdequatc resoutccs to continue in operarL()nAI extsrcnte fot thc fnicAccable tututc, bciiig a period of nni Icss rlian rwcli-c monrl]fi ¥frcr rhc d¥tc on wliicl) rhc rc￿)rI And fiiias)ci81 siarcmciiis are xpiiroi-ed. For ihi$ rea$0￿ li continws 10 adopi ihc going concern ba81$ OF prLparatiun in Ihi (￿anc￿ st2tcmLnts. Auditors CJtant'L'homt<)tx L'K LLI) haling eNpte55ed theit ￿tyeS5 10 contllxue ￿ i)ffice, be deemed reappnitLied tnr Ihe nexi finAncts] I-¢￿ itl Accordance ￿ttr]I section 48.1?) nf rlie Companic$.Ict ?(M)6 unicss ihe charitable compani. rcceii'cs noucc under scciion 48811) of the Companics Act ?(KKTr. Sir Dxi-id 11 ootton Chair 14112/2021 Docusign Envdope ID.. A85A97F￿DE3A44A￿B08E-172118C8l1DB Northern Ballet Limited Fonanclal gtatements lor y￿r 8bMl8d 31 IAarch 21)21 16 O GrantThornton Independent auditor's report to the members of Northern Ballet Limited Opinion X't liai't audlted the f￿￿ncl￿] sratemenis of Norihern Baller Limited (the 'p%reni charirable compan}-.') and its subsidiaries Ithe'gruup) Fur the s-ear ended 31 NIArch ?O?l u.hich cumprise tlie Cunsuhdated statement nt fthancial aciil-ities l]nclu(l]ng ("onsoknd?red Income and Lipcnthll￿e accauntl. the C.oii£i)kndated aiid LnmpaJ)I balai)ce sheers, rl)e Consoildaied giareinenr of ca%1) flow's aiid i)ore4 ro ilie hiancial srarein¢nrs. cliiditig a suintmn, of signJfic%ni accouniing ￿￿CleS. The fin%nci%l reporting fratnework Ihxi has bten ai)plLLd Lti their i)reparation 14 appkncable lau, and Lniied Kitigdoin.Iccouniing S1%1)dard%. iticludjng Financial RLPUIt￿X.f￿R￿dard 10?: The Finantial Repunink %tandaid apPh¢ab￿ in the LTK And Repub]it tsf Ir¢lAnd (Lnitcd knngdutn CJcncral]!..Iccept¢d..Iccowiting Practjce). In our opinion. Iht finAnci%l siaremenis.. i'c a truc and fair i'iew nf il)e siare of the group'% and pareni chariiable coinpan>'s Affairs A$ ar.11 l%rcli YJ?12nd of ihe %rtsLlP'S And Ihe p%reni chxti12ble comp%n! s incoJ)Yn% re%()iirce4 And applicAllI)n uf resuur¢es, in¢ludin% ihe ￿up $ and Ihe p¥reni income and t￿￿ndItUte fut the N'eat thLn Liidld: hli'e bcen pt(Jpetl!" ptepxred in Accotd*nce Wilh Llniied Kin￿oM CJ¢rtetxlli tslccepred ,.Icct)uniing l)r47CllCC: and hai'c bL'LlI pfLparLJ in accurdancc wilh ihc rcquircmenr$ of ihe Cumpanic$,.Ict •{11]6 aiid C.hAritics ,.Icr ?01 l. Basis for opinion i. liai'e bL'L'ti xpp()InrL.d *udii¢Trt undct ihc l.()Inpinic*. cr ?IM)6 xi)d scttii)i) l.$1 i)f il)L. ('hA11tic%,.Ict ?01 I aiiLI rLW)r¢ iri Rcc()rd8J)cc i￿.1117 [h1￿C ,.Ici%. IX c c()nducicd ()ur Rudii in acci)rdxJ)cc will) li)iirTiati()J)al %IAnd41ra% i)ii .-ILiditii)% IL'k)11s..l% IL'KII arid 14 ppjicxblc law. ()ur rL%ix)Ii%ibib-ILC% Ul)dLr ilii)%L 4taiidArds arL, furthL'r dL'%cnbL,J In thL, ..luditcTrr's resfM)nsibth-ILe% f()r thc audit ()f thL fmancial %tatLmLlItN %Lctii)ii i?f nur tcp()rt. IX c lndcpct￿cn[ ()f thc gr()up And rhc P%￿nI clixniablc c(IinpAn!' Ate(?rdaiicc witli tlie eihicRI rc411ircJyJcn¢s ihRr #te relo-#nr 10 nur audii of ihe fitL811¢i81 sialet￿ni￿ in tl)e I'K. iJi¢ludiiig rl)c I,'Ill.- b E..rlu'cAI Standard. xnd WL h21'L ful[￿l*l our othcr LihicAI rcsponsibth.tics in accurdancL uryih IhLsc rLciuifLmLllis. l¥ L bLhii'L th2t the audit LTh-IdLncc w'c hai'c obi%mLxl is suffiiciLnt And RppruprixtL tv providL a basLS fur our opinivn. Conclusions telating to going concern X c Are resI)(Jrisible for concludirig on Ihc 41pproiiriAicness of Ilit irnsrccs use of rlic w)ing conccrn basi of xccviintJn% and, bascd un the audit ￿-IdenCe obtaincd. wheiher A maitrixl unccrtA￿I1 cKist% rclatcd to el-ents Dr cunditiuns that ma}- cast 5LgNfLt14 tkt dvubt the gtUUP 5 and the patent thantable tc)mp#ni'5 abikntt- to cnntinue a ping concern. If we conclude Ihgr 2 mateti21 utLcenainn exi%ts ale iequiird tr) dr8W RireiirioIi in our reporr io the relartd disclosuref JJ) ilie fijianrial starettiejits or. Jf such dJsclo&urcs are inadeqi￿tC, io inodrf!. the auditor's opinion. Our coiiclusions are bAscd on the Audit ei'idencc obiaiiicd up tu thL datL ufUL￿ rtpurt. I luM'c%-cr, futute ci.cnts or conthtions mai, cause the wup ur parent chantabLe tompan!- to cease to cotitthue as a goll¥ concem. In oiu Ci'14 luxtion of thc tn)stecs' conclusions. ￿'C considcrcd ihc inhcrcni risks assoc￿[£d ibith thc group's ancl P&irent chAntable compan!. s busmes5 m(Klel inclu(lll4 vlEects 2ti%itxx Etum m2cr(l-ecunumic utxtertaitxttes Suth as BteNit and c01-￿-19, xssesscd Atxd Challe￿ed th¥ tezsunableness uf estitnates made bp the t￿stee.4 and the re]ated disilosures a[￿ atd1"5ed those iisks mjglit affect the gtoup'4 arLd Parent chariiable compatL)-'5 fJnatLcial resources or abth'n to continue operarjons rh¢ going concern peAOd. Docusign Envdope ID.. A85A97F￿DE3A44A￿B08E-172118C8l1DB commerci￿ in confiden N¢Jrthern Ballet Limited Flnanclal stat8ment8 tor tlw year endod 31 March 2021 17 Based on the u'ork h21'e p￿roMIcd. M'e h2i'e not identified an!- matetial uncertainties tc]2tJn% to th'ents 01 iunditiuns that, JndiiiduHlls" ui collectti"eli". llL￿￿" IA5t sJgtllficRTri doubt on the wup s and pRient chArin 8 abiiiry- tn cnntinue cnncern for a period of ¥t leasi nvek-e inonths Frrjm when the fin¥nc]al statements *re authonsed fnr LSSUe. In iudiiing Iht f￿ancIal siaitments. u't hal't concludtd that tht trusttes. ust of tht going concern basis of actuuntinx in the prepa￿ti￿n of the fjnantial staiements ts apprupiiate. Tlie responsib￿lieS of rhe tNsree5 I￿111) respect ro goiftg concem are described in ihe'Resp)nsibilities of trustces lor the fmAncAal siaiemcnts. section ol thts rcw>n. Other inforn)aiion I'lie Inistees Ore r¢￿￿￿$1ble FaT the nihei informaiinn. The rjther infrjrnuiion crjmprises the infnrmatian ii)cluded in rhe Repon of the TnLsiee4. other illan the fm2nci21 star￿￿¢￿1$ and our xuditor'% report therLon. Our opll)Jon on the lJnanci%l staicmenis does noi coi'ct ihe oiher infomuiion And. except ro the extint uth¢r￿s¢ ¢xp]icitlTr' stat¢J in Our Icport. nut ixpiess an!. forni uF8s¥utancL runclusiun thL'r¢()n. In ci)iinLcricin with c)ur auth'i ()f rhc t-m¥iicthl st8icmcnis. <)ur rLspiJiisibikn'n' ts icl Tlad tlie ()tliL'r ii)f()nnarii)ti ai)d. Ln doing so. coii4idcr w.licrher ilic orhcr iiifonnarinii i% maicrialli. IilCOllSL*reiir with rhe fitiancial %raicincnr% r)r c>ur kn(>￿-1£d￿¢ obrained in the Auth"r or oiherw4e xppearq r<) bc Inarcriall mis4iared. If we idei)iifi' %uch nuien%l ii)consi%iei)cies or %pparenr inarerial iM%%r%Tcmci)tq. we are required t() d¢itrminL whLthL T Ihcrc is a maicrial missiRILrnLni in Ihc fin¥ncial si8lLmCJII$ I)T a mail'rial mi%%iatLmcni i)f the c)ther inf()rniarii)n. If. ba%ed on Tlie wY>rk we hai'e perfi)rnied, w'e c()nclude Thxt there 1% a snatL'rial inLSStarement of thts orher ii?fomurK>n. we Are requwed to rep)ri rliai facr. hii'e ni)IhinK ri) r¢p()n in [￿.$ reH#rd. Opittion on oihet matters prescribed bv the Companies Aci 2006 In ()tu i>pini()n. based on the work undenaken in the course tif the audit.. thL' infc>rmau()n pi'en in the Report of the trustees lincoTA)ratin8 the %trAtL'VC Re￿)rI) Fi)r the finAnci21 I'tar for which tht financid statements art prepartd ts congistent uryth the fil￿nciAl %ratcmcnis. thL. Rcpc)rr of the iwsrees (incotrK)rxring ih¢ %it#rcgit R¢porr) 118$ b¢en prcpArcd in fLC¢(?tdaiice ith appiicablc legal rcquiremenrs. Matter on which we art tequired to report undeT the Companies Act 2006 In thc ￿Kht i)f thc kni)wlcd£e and undctstatxdthg of the 8ri)up xnd patcnt thxntsblc triinpAni Aiid it% eni-irnntnei)t f)btRincd iii thc cnur%e the audit, ￿.£ hgl-c t￿1 idennficd tnAtetial [tiL$￿￿tell)elits ii) tl)e Srr81¢'￿r Rcpon or rhe Direcrors, Report iiicluded in rhe Rep)tt of the [￿￿terS lii)corporating the S[raie￿c Reporil. Matters on Th hich we aTe TequiTed ¢0 TepoT¢ excepiion We hai-e n1)thi￿ ti) repnn th iespect of ihe follo￿￿n8 tnaiteis ￿,]]¢[C the C.0mpanie￿.￿Ct *006 2nd Charirrs .'Icr ?01 I requires us io repon ro i'ou if, iji our opinioji.. adequatt aTrd Suff￿lent 2ccounring r¢cord5 hai"e noi been ktpt b}- the parent chanrable compattTr, or returns adequaie for our audii hai-e not been receii-ed from brAiiches nor i-isired bi us,. or rlie parenr chlntable compani- s fiiiancial statements Are not in weemenr ￿￿[h rhe xccouJ)ting records and rctllrns., or cert31n djsclosures oFm]sree$' remuner¥iiorL specjfied kn. jaw are nor made. or we hai-e not xecei%"ed all the and explanat￿n5 we rryuite for our audit. Docusign Envdope ID.. A85A97F￿DE3A44A￿B08E-172118C8l1DB commerci￿ in confiden N¢Jrthern Ballet Limited Flnanclal stat8ment8 tor tlw year endod 31 March 2021 Responsibilities of the trusiees for the financial statements Ab L'lV]2ined mole fi￿V in the Tntstees. Re5p(In5ibth"tie5 Statetnent set vui 14, the ttustees (who ie the directois oFthe chantable CO￿an1- for the pwses of comp2n!- lawl Are resp)nsible for the prep%rarJon of Iht flnxncial $12iemenis 41nd for being s%iisfied thai rhei. gji'e % true %nd Nitw. and for sI￿h internal control as the tntsttes dttem)ine is necessan. 10 enable ihe pitparauon OE financial statements that ate free fiotn m2ten21 mts5tatement4 whether due tu fiaud ur etror. In prepaw the f]nancia] 4i¥¢emenis. the trusrees are reS￿￿5]ble fnr assess￿ the ynup's and the parent charirable compatii's abilirn. 10 conrinue a% a going concem. th"qclosing. a% ai)plicabl¢. nurrers relared ro golng coticem ind usjng the goll￿ concern basis of 2ccounting utiless the trustees either inrend 10 li4UtdAte tht %ruup or pxrent clthritablt compani. 01 to ctast optrdtiuns, 01 hal't nu reaiLStit ￿ternatIVe but tn dn sn. Auditot s responsibilitie6 fot the audit or the financtal statements frL'L. from matetial mi%siaiL'mL'nl, wl)tihti duc its ftaud or errol, and io Lssue an 2u(btc)r'% rL'p()ri ihat ii)cludes (Jur i)pinicin. Reasi)nablc 3%4urai)ce 1% a hwh lo-el i)f A%suraiice bui i% iic)I x guarxnicc thar ali auth't ci)nducicd in acc()rdai)ce ￿1[11 l%.-ls IL-K) ￿.111 al￿,21.$ dcrecr a inarcnal inis%rAiemeiii wlicil 11 CkL%fb. 11s%ixremetii4 can from fraud or ettot and art con4Ldered mareti21 if. Lndii'Ldualli' ()r in Ihe A¥&n"C￿le. tli¢i' cc)Iild r¢R%onabl%. be ex￿£1¢￿ ru influtnce rhe ecuncimic J¢ci%icins c)f users taken un iliL bA¥l% {)f tli¢s financial st8i¢menrs. Il furrher de4cripfL()l) i)f our resp)i]sib￿lI1tS for the audir of rhc Fmancd staremeiirs i% l()catcd on the I,Ji)d1tlC1411 Ri'i)n f()rn pari ()f i)ur al￿11￿)[,% rLp¢)rr. -Kplanxii<>n 24 t() whxt e%iL'ni the Audit WA% cc>n%idered capAblL' ()f deteciinx Lrrckyu13ri11LI%. Lncludiiiky frAud IrrcwlAriiie%, includin% fraLtsI, in%i%nces i?f ni)n-ci)mpbAnte uryih IAWS ai)d tChFuIAri()i)%. IKC dL'%iNtyI pr()cc¢lurL% it) linl willi i)ILr r¢%pi)nsibiliiic5, (jvilincd abl￿.¢. ii) dcicci m8icri81 mi$4iar¢Jnciirs iji rL%pLCI l)f irrLKLILiriiiL% iiiclLKlirig fraLid. Ihviiig ro rhc iiilicrcni ]imiiAiions of audir. Ilicrc itr an iii)ai'()idal)Ic ri%k th&1t matLrixl mi4%txtLmLni.% ￿ IhL financial SlAtLmLnt% mai. not bc dtlLCttd, ClLn thvugh tliL aLidit i pr()PLrl!' plannL,d and PL'rfi)rn]eJ in Accordance with the IS.45 (Llkl. Thc cxicrii ro wkn'ch our pNKcdures arc capablc of dcicciing irre￿I￿rIties. iiicludiiig fraud. is dciailcd b¢li)w'. Xc nbiaincd 811 UtLdcr4tanding of ihc legal 8nd rcgularon- Fr8iTJcworks thxt xrc 8pplicalile to tl)c Grviip. 41nd Ihe sector in w.kn"ch li opcrnics. Ixe dctcrnyncd ihAi ihc (t)llo￿l￿g la￿.$ and rcgulation WLfL must Si￿1r1¢%nt. rtsiancial reTY)rriJ)g Icgi%ixtion (Charitics SORP I(krober mlg) and LTnircd Kingdoin Gencrally ,Ittepted ..It¢uunting PtRttice, thcluding I'inattctsl Reputting %iandRtd IU21: atxd Ic&al Ermncwork includJtTrg Companics Act ?(XNTr and the Chariues Aci ?011. The eng3Fm£nt team remained alert to ani itdxcatinns Df fraud attd nott-cnmp]iance ￿1th laws 2X regulations rhroughour the audir; e understood I)0￿ rhe G￿￿P ts compli'iiig ￿'Ith ihese Iwl and re8u]aroTh fraMe￿orkS by makin% inguitics of ￿1rtagcMtnt. inicrnal audit. and thosc chargcd w'iih goi'crnancc. Il'c cnquircd uFmanagement and thuse tharged VAth gui-etnante whciher there an!- instante5 uFnvii- complLance iTrith Snd regu]auon5. ￿.1￿the[ thei" had 2n!" knO￿,ledge nF actual ot su4pected fraud. 11 e Co￿[)bOr￿tea the result￿ of nur enquine5 through out OE b02rd miiiute5. and through our legal and professional expenses ro-Ltii-' Trj as4e%s the risks nf rn2¢eria] ffli$srAt¢meiiL including how a fraud fflight ￿CUr, we obrained an underSiat￿lng of.. Docusign Envdope ID.. A8sA97FwE3A44A￿B08E-172118C8l1DB commerci￿ in confiden N¢Jrthern Ballet Limited Flnanclal stat8ment8 tor tlw year endod 31 March 2021 19 The C7roup's oper81ions. Includi￿ the nature of lis source% oFincoJne. expecred fjnanctsl 5raremti)I disclosures and risks ihai mai. result Lti risk of mxrerial missrxiemenr,. And The CFEnUP'£ con¢rrJl eniirrJnmen¢ ￿clUdIng adequ¥a" of pr(Kedure% far authnrLsation of transacrions e assessed tl)e suscepribth'n- of ilie Group's financial staren￿n[S to [nater￿ misslatemeiit. includitig how fraud tnight occur. .ludii procedures ￿rfornICd b!. rhe engagtinenr re%Jn llicluded.. Ei"aluating the pmcesses and contTob estabbshed to address the risks related to irregularities atid fraud. Test]ng manual Inurnai entyies. ￿ panicui8r joumal entries rebting t(} nigiiagement estimaits and cnrrics dttcrmintd 10 bc large or rckniing 10 uniisual transaciions., Challei)ging &s%umprioiis and judgemeiirs made b!- InanAgeinenr in irs significaiir 2ccouniing esiim%ies.' Identifiing and iesring relared pam. trangxcriaA8: *id compk.tion uf audii priKLdures to cotLrluJ¢ tli¢ cump]iance of dixlosure¥ in the finai)CLal sraiemenis wirh applicablc fiiianciAI re]y)rrLI)g rcqulreinenis. -I'he%e au(h'r prc)cedures were des]y￿d ri) pri)N￿e rexy)nabie a%suTance thar rhe fin8ncial sratemei)r% were free frnm fraud or error -I'he nsk Df nor derecriiig a mxrertxl ¢ni4srxreineiir due rf> fr%iLII ]* than Ilie risk of not deieciii)% one rcsulrllw frojn error xi)d dciecriiig Irre￿11￿M[leS tli#t rlsuli Ir()In fra[￿ li 11)h¢ienil%' m(Jre difficuli ihxrt derecrinx tl)c)se IhAt IL'4uli fLiJJyJ L'rL()r, As fraud inai. ini'()li-e ccbllLL4i(>ii, deiiberart cc)nccAhnenr. (c)rgcTh' i)r inicnti()iixl mi4rcpre¥ei)iati()11%. ,.I1s{). the furrher reLTh)I'ed tM)i)-cc>mpliance ￿'Ith law4 2nd rcgulxii(>t14 L% fri)m ei'ciir% %i)d tran%aeiii)n% tenected in tl)e finartCiAI 5iaremenr%. the les% ILktli' we wi)LLld l)ecll)d pariicipari()n Ci)Ininunicxicd rclD'ani la￿ and rcgulaiic)n$ and pt)IcniiRI fraud ri%k$ ii) all Cn￿￿￿1￿CIIt tcam miinbLr%, xnd rcmaincd AILri to ani. indicxiic>n.% of fraud. or iion-ci)Inp]iancc with Al)d re￿JatI()n.* throughout the audit. Use of out report 1'hi% rcpi)ri is inadc qi)Icl!' ri) Ilic chAriiablc compani. s I￿l￿be[S %iid rnL$lCC$, X$ i b()di, ii) acc()rJaiicc with C.hxpiLr 3 uf Part 16 uf the Cumpxnic$ .Ict ?{K￿ and SLCti¢)n li4 vf thc CIIAriiiL% .4ci ?{11 l. Our xudit wi)rk ha% bL'L'n Lindcrtaken s() that wc might stxte tu thc charitxblc cvmpan). s mL'mbcr* And tLY%tL'I'% tI)c?%L' matters ￿'C Rrc rcquited tn %taie tn them th an auditrTrr's repnrt and Fot othcr putpnse. T() the fulle.st extenr permitied b%" la￿.. we do iior accepi or assutne resp)Ji%ibilir)' 10 811}"oJie oiher rh?n rhe ch8tit81)le COEnpan!' and its mcmbcE$ and [Th￿l￿s as a iy)di'. for our audii worl (or this repori. or for rhe opinions we haTre futmed. &rt Ur LL¢ Deb()rah Ilat50n 1S.%c IFlon%) PC enior %t2nitoTr .ludi¢or For xnd un behalf of Grant Thomton L'K tlp Stattitvrn .luditur, ChArtered.Iccountants 15/12/2021 Granr Thornton LTK ILP is th￿"ble to aci as 2n a￿allor in lern￿ o( secrion l?12 of the Companits ilct 2CK)6 Docusign Envdope ID.. A85A97F￿DE3A44A￿B08E-172118C8l1DB commerci￿ in confiden Northern Ball&t Umlt•d Financial 5ts1gm•nts fr>r th• y•4r •nd•d 31 M•rch 2021 Consolidated statement of financial actiiities (including consolidated income and expenditure account) Ujjrestiicted Resirieted funds funds 2021 -￿20 No INCOME Inc()me frnin donaiions and legacies Income from ir%dJng actii'iiies Incumt fium chAriiablL' Rctii'itits Incnme frnm Jnb Reientinn ￿hen IniL%llnciir iiicome To￿1 income 5.108.9_ 31 i.9-8 489.117 5,598,046 315,978 $43.932 L770,998 ", 94,849 2,634.?33 21,468 -12 17-:n.998 4,818 8.413,162 7,718J69 510,585 8,228,954 EXPENDITURE Expenditute on raising fund8 298,015 322,834 300.S27 921.376 -1.14.??1 1.59,499 99.In8 IxAfl¢l di4tribuiion 897.650 23,726 ?6,111) Expenditure on chariiable aciivilie8 4.",.19.(H9 .101 5,247,150 335,902 5,583,052 ..IcAdem)' Icl*.4%ical tr21nin%) 5,052,539 530,) 9.3()l.i.$1 Totsl expenditure T8x•iion -I'hLAlrn reljef income .1 cri,diillchArke} on profit on ordJnaTh #crtsittes 5.950.189 554.139 6,504.428 514.957 514,957 594,1115 514,957 514,957 794,IM? Oihet re¢ognx8ed gains air k'xliiL.4xin T)n u)i'LStments RL'i-alLlatiun xains 17 20,362 50,000 70,362 14,-119} iII,IMM) 70J62 14,.311)} Net (expendittire)/xncome ReciTrnLilxAtitsn of funds Toral funds brought forw￿d 1353,499 (43,654) 1309,845 1,184.64? 181.431 1?.484.543 1?665.914 13,850,616 Totsl fund8 carrxed forwatd 2.SM.930 12.410.889 14.975.819 l ? ()() j,9-' .4ll thc rcsulis arc dcrii.cd from continuing o￿tallOnS. The Cons0￿dated siatcmcni of fjnaticial acui-ities includes all Sa￿ and losses recogniscd in the I'car. Rcfet 10 notc 14 for inforn)ation rcgardll4 the Chacitable Compani s (￿￿ncIal acui'itics. Reler to notc 30 Fot Eull compatatil-e Consoihd2ted statement ol fit￿n¢￿al acttiities. The accompan}ing notes page$ 24 - 46 Eomi part OE these financtsl statement5. Docusign Envdope ID.. A8sA97FwE3A44A￿B08E-172118C8l1DB 21 Northern Ball&t Umlt•d Financial 5ts1gm•nts fr>r th• y•4r •nd•d 31 M•rch 2021 Consolidated balance sheet 2021 2020 No Fixed a8sets 'I'an£iblL' assets 16 17 305,480 6).569 ,579,620 1 ? 438.019 Current a8set8 Ini'i'ltmi'nrs 17 2.0￿.0 26.005 1,474,448 8IVJ.830 4.310283 Dtbiors Cash Rt bank 8nd in h8nd 19 1,160,57a 0", 1.4$8 Creditors.. amounts falling due wrythin one lear 20 (1,599,423) 11.4516.?6.11 Nei curtent asse 710,860 j87.1().5 Toial a86ets le88 cunent liabililies 15.2W,480 1.4.O95.?14 Creditor8'. amounis falling due afier one lear 21 1314,618) 1.1%9,19 11 Nei 468e18 14,975,862 1 ? ()(]().1}17 Callcd lip sharc ¢xpii#l 24 ?9 Capital rLdLmption re$cThe 25 14 14 Income fiLnd$ Resiricted (UEid$ 25 ,440,889 1 ? 41H.543 Unresiricicd flind8 RL'i-aluatAc)ti tcscTh-c l)esign2red teser¥-e$ Orlier chariiAble futKis 356,473 fAM).727 1,277,730 1889,8591 14,975,862 12.666,01-' .11)6,47.1 25 These financial 51aremert¢S wtre approi-ed bi- the Board of Trustees ai?d $I￿¢d on their behxlf. Sir L)r th• y•4r •nd•d 31 M•rch 2021 Company balance sheet 2021 2020 Note Fixed a8sets 'I'an£iblL' assets Investments 15 17 12.270.776 411.556 11682.332 12.366.?33 171.647 Current assets Ini'i'*tInL'nt ic)ck Debiors Cash at bank 2nd in hand 17 2.000.000 26.005 1,468.948 771,204 4266,157 19 1,4?51.446 1,-. ?6.83? CtedilOt6.' amount8 falling due within one l-ear (1,568,982) 11 ??1..16()) Net current assets 2,697,175 ?0?.466 Toial a86ets le88 current liabilAues 15,379.507 1.3.043.-140 Creditors.. amounis falling due afier one Year 21 (314,618) 11.51),11)D Nei 888e18 15,064,889 19,()144.14() Callcd up $harc cApir#l 29 Capiral redeinpiion rc$crYe 25 14 14 InLome filnds RL.%tric¢Ld I'utids 25 11440,889 1 ?,484,.54.1 Unresiricied fund8 Rei-aluatic)ti tcscTh'c Desi￿18[¢d re%en-cs Other cliatiiable funds 356,473 fAIO.727 1366 757 15,064,889 101).4 J. 64,817 l ?,Okbl,141) The IdeflcitllsuTrl￿3 aF¢er For rhe pAreiir cotnpAJI!" For rhe lear ￿.8$ L?.380,-, W l-m?O.. deficir of IA."1,14?,8-. 1)). .1 separxic Sraiejnenr of Fuiaiicial.Iciii-ities xnd Incomc and Expcnditure.4ccoiiiii for rhe Chanti. Compan%. has not been prescnted bccause the Trustces hai'c taken ad¥xntAxe ofthe cxemption aEEurded bTr secttsjn 4UiI uFthe companies.lct ?(KKTr. These filianc￿l 51aremenrs were approi-ed bi- the Iloard of Trustees aiid signed on their behxlF. %ir Dai'id 11()atton- TnL%tee CompRI)I number.. (K)94-, 096 The accompan)Ing notes on pagcs 24 - 46 form part of these financtsl statements. 1411212021 Docusign Envdope ID.. A85A97F￿DE3A44A￿B08E-172118C8l1DB Northern Ball&t Umlt•d Financial 5ts1gm•nts fr>r th• y•4r •nd•d 31 M•rch 2021 Consolidated statement of cash flows 2021 2020 Net eash flow from opetating activities Nei income/lexpcnthiure} Itittrest rectii'able Depreciaunn 'I'ax8uon Fair i-aliiL' @ainsllluss15 un UTJlisted itii-¢stments Rti'aluaiion g2Ln on ptopetry 2J09,845 {1,184,64? 14.818) 171,497 171,913 (20J62) (50,000) {15,073) (393,557) 79.679 {517.701) 586.282 2,151,026 4,319 9.446 1.()2? ??{) IIUl.1.14) 11ry?*18) ?94 1){)?) 14NII.?(J? Ilncrea%el/decrea%e in debtors DLcTL'aselllncrLa￿¢I iy) accTued incorne (t)Lcrc84111iiicri8SL Ln cridi¢ur4 IticrL&i%L,/ldL'cte*%tl in dL.fL'rrLd incomt Net ca8h (outflow)/inflow fTom operAiing acfivifies Cash flow8 from inve61ing aciiviiies ItllL'fL'¥t tL'CL'II'L.d 4,818 PLLrcl)a%L' r th• y•4r •nd•d 31 M•rch 2021 Notes to the f￿anCIal statements G•n•ral Informatlon Norrhern Ballet Lmted ts R cknitable cotnpan!" incowrated in the LIK 2nd its regtstered office ts 2 %t (.eciiia %treet. Qugrn- FIiU. I£eds. ].%? -P_l. The pr￿CIPal objects of the Companv are to produce and perforni ballets atid ro ath-ance educaiion in rhe %ns. Accountlng pollcles Basis of preparaiion 'I'hL' t-JnRnciAI ￿t￿re￿L'￿t5 1)al-L. ￿.c￿ prepared under the historical cost conieniiot4 modified ()n uccasiun tu iiiclude rlie rei'aluarion of freellold propem. in ￿?12nd moi-ementg e%cli lear li) rl)e i-alue of iiii'esiinenrs held. The ImAnci21 st2temtnts haw'c been prepared in accordance ￿ryth.￿CtOLinImg And ReportJnK bi CharitiL's.. %tAtL'mL'nt uf Ri'cumtnL'ndLMI PracucL' appiLcable tu cknitiL$ pfLpatin% tliL'ir ACC(lUtits itx acc()rJancc rhe l.inanciai Ke￿n￿g Siandard app]icabk tsi the L IK aud Kcpubhc of Ireland {I,'IL% IU?) (()ctnl)er ?{l?O Cdiiinnl ai)d rhe (.ompai]ic% .4cr_IK)6. The fin2nciAI giaremeni% consnlmlaie rhe resulis of rhe chanry. and irs wholli, owied subsLdi%ries on A Ilne bi. bnL, bAiLS. ..[ sepAraie SixtL'ment vf FJnancixl.Ictii'ities And Inetsmt xnd b.xptndiiure ..Ite(JuJ)I l()r the chRTilI. ha% ii()I been pre%ented because the irusiees hai-e iaken adi-antage of the exempti()n 3ff()rded bv %Lcri()11 4nx <)f the (.t)Jnpanie% ."Ici ?(KK). N()rTh￿ oEthese accounts ate as set nut in the po]icies below. lx ith the eicepuon of those re13ri￿ to Pen￿On coJnmJnnetLiS and 11 ¢l]tsJ8ron Thlill. iione gre consideted io hai-e a maierigl imFAcr ot] ihe accounis. Docusign Envdope ID.. A85A97F￿DE3A44A￿B08E-172118C8l1DB Northern Ball&t Umlt•d Financial 5ts1gm•nts fr>r th• y•4r •nd•d 31 M•rch 2021 Notes to the f￿anCIal statements (continued) Going concem .,Is primani!" a roiinng cOM￿n}. Northem Ballet are in 2 unique posiiion within the Jkns. .,Is touring pDJi'ides Boy Oft-ICL ￿Lt￿,1P[s ftom tath i'enue so to it produces a raxw of ttssts dut tts e4uipment htre, adthtiunal staFFJn% and mxtkttin% ttssts xmotLgst othets. The contnbutiotx detii'i,d from out tours thtc)¥hc)ut the 15 dependent the i"enues 2nd yrroite perfonned. ￿ld1 a npicai ieat btingitig in bny nftice incnme tn cnier ihn%e direct cn%t% nf n￿rat￿ rhe ¢rJur and a cnntribuunn rn tnurjng £raff sxIAries. Howe&er, for tnan!- I'enues touring is 2 nei cosi ro rhe cotnpxi)I' and in reducing rhe loc%rion being toured to it is possible 10 reduce the oi'etall fJnancJal ouilai to the or￿￿151110n. .1 number of steps were taken to reduce costs rehung ro the cancelled tours whicl) mitwred rlie k)s$ of ticker rtvetiiic and alongside the Goi'emmeni announced Job Rcreniion *hcme %i)d %elf-l.-Inplu}'ed Income %iLPlX)rt %chemL' all of our stafl xnd fieelancers wtie xble to be supported ai sxlar¥./fee livils duting thl pirid ￿ry1h nu currcni reJunJancies ur job IossLS. In i(Iral Nc)rthern Bauer received oi'er L?.4m in sUPP)rt jinked to CC)I'119 through ihe C.uliural Reci)Tr'ery Futid And rhe Job Rerenrion scheme BudKLring fur ¢hc_ )91?3 1'cHr ha5 been conducied assuming a retuni iu nonnal audicncL si7.cs and iiu eNpLctalL<)l)* ()t di%rupii<)ns tc) pcrfi>mTrnccs. In rhe ab%LYice i)f i)rl)cr al%￿O￿lC dxia. Ilie 14()xrd cc>iibidLrs utihkLI)' IliAI WLfL' thLrL' to be inaiL'nal di%ruptiDn busine4% actii'itics Iliai would n()t be tsffsLir bi.. % rL¥tuni ol- IliL. fitianeial 4LlPlX)tt thai ])*% bcei) pttheni dunn% ?O?()/?]. CurrLrktli. N()rihern Ilallci are awaiiing fc)rmal cunfmnaii()n fwm.,In$ CJ)uncil l..ngland (If thc rc)11-f()rward c(IrL fLinJinK f()r rl)L Vl??l?.l Nrar ￿.1)Ich i% duc r() IK Ann()ui?ccd ii) carls. ?1Tr?? It is ci)i)%idLrLd ￿lTh. unlikcli. IhAt rhi% AWArd will i)iii be t￿de bur sh()uld rht AKi'ard be matcriall¥ diffcrci)I fTh)In Il)L' pri'ii()u¥ I￿.￿r£I ihi% Tr¥'i>uld hRTr'C 8 %4tlLfLCAtLt imp8cr ()ur icrti'iiics *nd ihc rc¥¢)ILr¢c% i%.ailal)IL. NliiikTrtinkr 8Cti()ns SLicIi wi1hLlra￿.xI {)[ i(Jurin% %c(iiiuc$ rhrough 20?2/?.I carh bc implcincnicd as rcquircd to cii¥ure tlic i)r%aEllSAti()n rLmains a Rf)in% concern. lil ihcir c()n4idctAti()n (?f ￿)1￿8 t(?nccm. Ihc TnLAiCCS l)ai-c al￿) gtl'cn APCtJfit re￿Id t¢} thc (.i)InpAIi!' % PCllSl<)Tl RrrRligcmeiii%. Norihcrn Ilallei is a p*nicipAiii iii R inulii-cww)lo!er DefiJ)cd Ilciiefii PcEiilOtI SchLEne --I'hL Pen%ion *hcmc fvr.-IdmmisirAiion and-l echnical SiAff in ihc..Iri$. .4fti'r Ma￿n% enciumes. the B()atd has a reasvnabk expectatiun that the C.vmpan!' xnd Cir()iip ha¥e adcqiiRte tri t<)rttinuc ii) 0petari0n￿ £xistentc f(Trt the friresecablc Futuic, bcii)8 A pcric)d nf nnt Icss rhAl1 N'clyc nionihs atrcr ilic dare oji ￿hIch ihc rcpon ¥iid fin¥iici¥l sr8temciir* 8rc 8pprovcd. For this reMsoEI. it COEltinucs io adopi ihc goiiig conccrn basts o(prepArauon iti ihe (￿￿nCl￿] sia(cinenis. Basis of consolidation The C7rnup fitLAJ)CLal %ratctnents cnlLsnlidRie the finAtkCiRI $1gtemetLiS nf Notrhetti Ballet I￿nIted and all of ils subsidiqn- uiiderrakiny Inore l-l drgwn vp 10 .11 NIarch eich l-ear. ,Icquiqitions OF qubsidi8rie4 Rre accounted for usinK the purchxse method. Taxatxon The Comp8ni under¢gkes chatirable 2cii%in and 15 noi SUb￿Cl ro coqy)ration tax. Info Displa!. Limitcd and Ntsrthcm Bal]ct Producuons IAmiicd. sub%idiATh' iindcMxkJngs, undcnakc trading attii'ities and are siibjett to curwratiun tax.-Ihe tax C￿penSe the i.eat relates tu the cvtpurattun t3 ari%ing in the trading %ub5idiane%. Income Incume ts reco%nised u.hen the chatiti ha5 entitletnent to fillM15, atsi Perfo￿)￿x￿e ionditL()n5 arEached tu the itenis nt ￿coMe hal-e been me4 It ts probable that the income ￿tyll be receiN'ed 2nd die atnount can be Docusign Envdope ID.. A85A97F￿DE3A44A￿B08E-172118C8l1DB Northern Ball&t Umlt•d Financial 5ts1gm•nts fr>r th• y•4r •nd•d 31 M•rch 2021 26 Notes to the f￿anCIal statements (continued) Incomo from donations and legacies Gr#nt income Incnine frniD govemment and oiher grAnis. wheiher'capital" grAnts or'rn'diue" granr5. is recognised when the charitt- has e1)tirl￿neth¥ io rl)e fundq. ani. perfornunce condinons xn3cI)ed rn rlie grxi)rs h%ve bctn mtl, It Is prob2blc ihxt rht mcomt bc rtctii'td 2nd Iht amounrs can be ineasured re￿abl5. xnd is nut dtftrted. Incomt that has been deft￿ed is retuwstd ￿.heft Ihe ttsnthttsJns re4utred b). thL. dLFL'tral are met. these tnaTr be tstnit]g or b¥sed. Job Reiention scheme 1'hL' ￿￿t tecoKniyi.d usin% thv perFotmanci' ttKMli.l and incotne is lec0￿lSea ￿.hL'[I It is rL'asollAbli' to expect that ihe grani wdl be recen-ed and ￿￿en ¥ll reiRied peTFuTWn8nce coithiti()ns Iiai'e been met.'I'lie ii)ci)me 1$ rccngni%ed in tl)e ￿me perii)d as rhe corre%￿1)di1]g e%pendirure. being the salaTh cnsts. wliich are reco￿u5td uryrhLI) I'2ri011s secrions of rhe accounts. Ine()me fi()m Iht %Ol'L'mineni in th¢ ftsmx vf Job RL't¢nritin Schenw krnnts hav¢ b¢¢n spht oui but c¢)nsidL'rtd as untL'SlriCt¢d In¢omL, fN)m Chantable .IcrTh'iii¢s xs per lh¢ kuidxnc¢ 15s￿d bi, IhL. q(IRP c()mmirtee n$ it ciiableq Nc>rthern Ballet io maii?raiii i)ur Staff ￿ryth the aiin i)( cawing furilicring i)ur chxrit41blc ()bjccriies. Donation8 and gifio .,111 ini>iiÉtan. d()Iliiri()n% xnLI gifrs arc includcd in full in (hc $rate￿￿n[ uf f￿￿ncL%] xcrii'irics wlien rLcL1￿Il)￿'. pr{)1.￿(d rhai thcre are i)() d()n(Ir-im￿)%ed rc%irictii)i)s a* 11) the iiinii)% ()f Ihc rclxrLd expL'ncliriLre. Iti whLch CASL, rec()%nLrii)n 1% defL'rred rhe pre-ci>ndLTI()n h2% bcL'n InLiI. I,()r lek>ricies. entitl¢tn¢i)i i4 IAk¢ii tl)¢ ¢atli¢r (If Il)¢ dair (JJ) whicli ciih¢r'. lh¢ ¢li#riry' i$ iw#r¢ IhAt Il)¢ pr¢)l)Al¢ l)i¥ b¢LJ) raniLd, rl?L L%lffjllL lia% bccn fiiiali%Ld AiiJ n¢Triificaii()n lia$ bcLn rnadc bi ilic cxccui()rl%) i() Il?c'l'ru%i Ihxr disiril)uii()n will bL madc. (>r ￿.htn a distriliuiLI)n i4 rcccii'cd fTh)m Ihc L%lAlC. Rcccipi ()( A It￿cl., iii wli<)IL ()r Ln pxtt, L% {)nl!' ci)n%thred pttibable u'hen th¢ ain(>unt can be ￿￿3%￿red reknbl!. aiid tlic charit!. ha% been n()iifii.d i>f ihL' cxL*lltc)r'.￿ inri'i)IL()ll i() make * disinbuti()n. Kxhere Icgacics h21'1. bci'n iic)FifJL.d t<} tl)L' haTltI'. ()r ihc ch8rir%' is aw8rc c)f ilic yanrijig ()f prr)b¥ic. and ihe criicria for iiicoinc rcc()wiiri()ii liai'c not bcen met, thcn rhe IC￿!. ts rrearcd as a contingcni asscr and disclosed if mxicrtsl. D(?naUnn8 undcr Ctrift ,lJd together ￿th the 2ssociated income tax recoi'erie% are c￿c￿ted a% inci)me wliEII thc dotLaiiotL$ arc rcccti-cd. Income Irom tr•dlng •¢tlvltl•• Sponsotship IIL'tc %pc)ns()rsh4) thcome is recei%"ed ll) a(h*nte o(per(om￿nCe, its recognition is defetred and intluded in creditnts. Hire of Space and Facilitie¥ Incomc is recogn￿ed in Ihc ￿riod in wkn.ch the scn.ice is proi'i(kd. i£aflet distribution Income is rerogm5ed on a $rr8glit ]ine basi5 rn-er the period in ￿.kn.ch the seThice is proi-ided. Income from charitable activities ChRritable trading income represenrs Ainoui)Is recet4-abk b!- Ihe Group for perfonninces O)ox ofFLce xiid progrxmme reccipis) and fccs for cducational actii'iues. Such incomc is rccognised ￿hen thc associatcd attiiitw Lb undertaken. Investment income Inve4tment income. includtsjg As5￿1￿tea Income t￿￿ recovenes. is recysed when receirable. Docusign Envdope ID.. A85A97F￿DE3A44A￿B08E-172118C8l1DB Northern Ball&t Umlt•d Financial 5ts1gm•nts fr>r th• y•4r •nd•d 31 M•rch 2021 Notes to the f￿anCIal statements (continued) Expenses and itreeoYerAble VAT F.¥penth'rure. Tr.hich ts cl)arged on an accruals basis. is allocared between.. F.xpendirure on raisii)g funds includes all costs relatEng ro *ciii'iiies where rhe piiin%Th aim is ro rxise funds, xlong ￿ry[h an app)rtionmtni of suppori costs. as set out in note 9 10 Ihc accounis. .xpenditure nj) cl)arirable aciiE-iries inCIL￿¢S all cosis reiaring to aciiviries relariiig direcrli to the fulfiltntni of the ch2nii s objcctii'es. wirh an apporiionmenr o( Sup￿tt costs, as stt out Ln note 9 ro the aecuunts. Other expenditu￿ teptesenis th(Ise itenL8 noi IxUm% into an!. other headll4. Irrecai'crable N'.4T is charged as a cost againsr the xttiiry. for which Ihe expenditUTe was incurred. iipp)ri costs ￿l￿[e ro sei'eral acrii'iiies. And include funciK>ns such xs 2dminisir%tion. biiildinR costs. Pl& I'ri)11 And AceuuniinR And RtL Rllu¢at¢d across th¢ ¢at¢wrJes of chatitable a¢tJi'iii¢s And tu%is uf gLnirarinx flind5 as 5c¢ uur in nore (J ru rhc acctiunrs. %upwrr co$is rciallr￿ to a $inxlL ar all()cared directlj to that actiTrin'. Fiind accoiinting RL%irictLd tuiidl arl 11) bt. LLxd fc)r %PLcifiLJ pvrpu%. c% laKI Jc)wn b!. IhL di)Jicir. I..N￿nd]lYrL f(Jr th(JSL PUTP()4L4 1% cli4irKid ri) IliL fund. i(¥cihLr ￿7111 x fair allcKallC)n c)f (ii'crlicadb and 4upp(Jn ci)%l&. Unre.8tricred fiLnd% are d()n2ti()ns And ibrher incomini resources received i)r FntrAttd f()r expenditurc cxi tl)L kryti¢rRI t)bj¢ciive4 (If ili¢ (Ir()up. 2.10 Tangible fixed asscis and dcpteciation N()rtlicrn 1SxllL'I l.iinitL.d ha4 xd()prid x £'.I,IMMI cap1taiv￿tHjn ihreshi)Id for tn(biiduAI A%%ct%. AlihriuKlI A%%etg nt Ics%cr i-alue sh<)uld l)C Capi[Abi￿d it. Ihci- f(?nn p#rT l)f * gr()up, IN'itli A VC)UP l-Aluc li) cxec4$ <)f I,'I,(IlXI. 1.hc l.'I,IIIMI figurc includc% I'.IT whcrc Ihi$ 1% ii()I rccvi'crJl)Ic. liif() l)ispl8N liiniicd C8PiIRli/.c% Hll appr<)priaie items ￿th no threshold. I'*n8Lblc fLXtd assets afc StAted *1 cost or I'￿￿2￿nn, net of deprecixtinn and ani, proi'isinn$ fnr impairmciit. 1'hc frccli()Id pri)pcrn' is siarcd ai i-aluarii)ii on (lic basis of A I'*luaiioii pcrf0M￿d iii Nlarch ?0?1 1111)rc l 91 and is IhLfLfvrL nut diprLciaiLd tach !'Lxr. .4 rLy'iew is carried vui cxch !'Lxr b!. manakLmLnt Iu Lll4ufL thc Rluc (?( frL'chc)id pr()PL'rt3' the [￿AntiAl statements ts appt()PEiAte Fri)m ￿li1£h xn!" ￿nendmL'l1t ti) tlic VRluats()tx wc)Idd bL' made a.s requitcd. .4 fum)al %"2luati(Trn b!" x reAI cstatc ka]uatiun expert be carried nut ￿'1th sutfLcicnt ftequeno- tn aid in i-glu2rion assesstnentE. Thc ]￿aSChOla Lxnd xnd BLU]diii.gs arc Ihe homc of Ihc Compxn!. in LLeds which has a ?50 1.cxr leasc with 'Lds Cit!. CvuncJl.'ll)e Cvmpxn!- mth'ed intu the bujldllxx in the.lutumn uf ?010. Frum tlixt dxte depteciatinn cliarged orl the as$ei. rhe 2s$ei be M-tirnen (Iff oi-er its estiniated ￿Seful knfe of 99 veatS wliich is considered the appropriare rime scale oi-er wliich wirknui inieTh'en(ion ilie bU￿allig would cease to bc useable. 2.11 Tanxible r￿ed assets and deprecAation (continued) Depreciation Is calculAted to ￿'￿te down the crjsi OF 211 tAwhle fJ%ed asstts bi rhe srrgighr litie method oi.er the followi￿ ￿mOd$.. Leasehold ]and and bulldll C.nmpurer equiptnent lotor iehicles ..ill other tan￿ble fLxed assets 99 1.eats 4 1"e¥rs i i.ears Docusign Envdope ID.. A85A97F￿DE3A44A￿B08E-172118C8l1DB Northern Ball&t Umlt•d Financial 5ts1gm•nts fr>r th• y•4r •nd•d 31 M•rch 2021 Notes to the f￿anCIal statements (continued) 2.12 Goodwill and amnrtisation Goodwjll arising on Ai) IlCg111SLllon of x trxde or subsidian undertakmg is the difference between the fair vRlue of the cunsideiati(In paid and the fait i-alue oFthe a55et5 2nd habibtie5 acquired. Positii-e %uuduill is capitaii8ed l￿d atnartised thr()ugh the cnnsoiJd8ted statement of FtnwcJ81 gruiiiies oi'ei die DirectrJiS' eqiimare of irs usefiLI ecni)ninic h(e16 1'ear$ ￿71]} regard in Infn DLspiA!- I￿nited). Impairn)ent of a88e16 Xhtte tht IL'tui'i'iabli' ainuunt fLNtd xsset AS Found to Iw below its net book ialut, the asset is wtitten d￿￿'n tu thL' fL'CUI-erabl¢ Amuunt and the loss impAirtnent is recO￿lised in the Stat¢in¢nt OF finAiicial acrii"Iries "%()1.',1" .1%8es%rnenis are carried aur annualii- reference the i'alue ii) use 3ndlL)T inarker V21LIL of Iht %sgtr. 2.14 Inve8tmenis Inve%imen¢s in siibsi(b'8Ei¢s *c measured Hi cosi less ac¢umulRred imp*irm¢nt. listed ini-e41ment$ are measured iniiiall!. ai cosi and %ubsequenrlY ar fair ialue rhrough rlie 41)1.',4 wiles$ fAif i'ld Ilie cannot be measured rehabli. In which CAse rheN are measured ai cost less AccumulAted imp&iimL'ni. 2.15 Stock8 l()ck% are stXlL.d At the of c(Jst and ntt reAbsAble i'atue. 2.16 Debiorg .1 Lli Hrld (Iililr ilLbii>r% arc rccogni%cd a( the scrilcmcni amount duc aficr tradc dtsc(>unt (Iflcred. PrL'paiinL'nt.4 are i'alued at the 2mt)unt prepAid net of 2m' ttade di%counts due. 2.17 Ca$h at bank and in hand C14 %h ai bank Riid ca%li in hatld includc$ casli xiid slic)rr Icnn higlil!. liquid iiii'csrmciii% wirl) a sli()rr maiiint%' i)f thrL'L mi)nihs i)r les4 (r(>m thL. daiL' f)f aC4Ui%itiI)n i)r cipcnin¥ (Trf thL, dL'P)%lt ()r simLlaL acc()unt. 2.18 Crcdiiors and provisions (".tcditotS Rnd ptc)J'i41()ns arc tctcTrRtLiscd M'here the ch2rih- has x ptesent ob]JgAtion re%u]tins fr(￿n A pa$t ei'enr Ihxi will pri)babl!' rcslilr in ihe rrliisfcr i)f Fund$ io a rhird pxrn. and ihc xjnouni due r() 4crrlc ilie obhRXtion cati bc mL415iifLd or ¢$￿nated rchabl!.. Creditors and proNisions are nonrtsiUI rccoRllibcd ai their si'ttlL'mL'nt amc?unt aftL'r ((Trr an!" trade thscvunts due. 2.19 Financial instniments The (.ompaii!' nnl!" has tinancial 3sset4 and fJnancia] ii2bi]ities of a kind tliaE qU2]ifi" ba￿lC Finaiictsl iiisrruInenr$. Ilasic fitiliicial ij)srruttieJiis are iiiiiiall!. recow1￿.Cd ar traiis8crioii i-alue and subsequeiiil). mcilsiircd ai Ihcir scltlctneni l'ali￿ Mith thc cxccption of b%nk loxns wkn.ch arc subscqucntl) mcaburcd at amurtised cust using the eEFectii-e interest methud. Pension costs Defined contribution 8ch•m• For defiiied coiirriburioii scheme% ilie arr￿U￿r charged to the coiisojidared sr8tenieJir of fin8llCI818Ctiiities in respcct ofpciibion costs is ihe conirtbuuons pxl'able m the lear. Differences bcr4'ttn conrribittion Pl& I'able in the l.ear and conixibuuons actualli" Pa￿ are sho￿￿ within cttth.tots or piepai".ments In the bl& lance sheet as apphcable. Docusign Envdope ID.. ABSA97FWE3A44A￿B08E-172118C8l1DB Northern Ballet Lomlted Financial $ts1gmgntsfr>r th• ygar gndgd 31 March 2021 Notes to the f￿anCIal statements (continued) Defined bonefit schem• I'he (".ampan}' tnake4 p8iYnenis to a defined benefii Scheme. the Pen%ion sclieme far.4ihniiiLStrauoti and Techi)ical %raff ui rhe .4rrs I'lhe %cheiDe'l. u-hich has ceased io accnr pension beiiefirs bui ii.hich hRs R deficir iti irs fund. The Coinpani. remains liable (or its porrion of the deficir in ihe.%clieine fund%. The asstts of thc Schtmc arc administtrcd bi. 2 Irusict. in 2 fiind indwndcni from Ihost of Iht Compan!.. ThL. %chL'mL' IS A midu-i'mplo%'L'I SthL'mL' 2nd ihL. Compani. 15 UtLiblL' to ￿L'￿tI(1. its shari. of thi. unai'rl}un% assets and ]iabth"ties. -l-here is 8 funding 8greement place to e]imtsJate that elenient of the deficit the clieint u,IILch is relarii'e io Ihe Comi)2ti!'. This fuiKiing liabilin.. based oti ati actuarixl v%luation As ar 31 larch ?U?I, #￿el.a and pai'mi'nis tomtnenced in JiJ!"_Wl-, .{ ]thbJh"ti. hAS recu%tllSL.d in Ilii. bi¢ IAnce 4heer equal to the net present i-ah]e ot the future deficit reduction pg!'meiit%. 'I'he pa!'meiit% Rre discr)unred tn pre%ent Nalue u%ing rhe mxrkei !i¢ld Iijgh quahn. CnI￿rat¢ Ix)nds which currenil egiiaits 10 O.?Oi, -Ihe pens101) cosfs cl)argtd ro rhe Consol￿%1¢d stareincni of fii)aticial aciii-iijcs %re ilie rinartce cc)sis equa] to the unwmthtxK o( th¢ th"scoutxr txre. burth¢t d¢i*d$ te]xtmg io ikn"s s¢li¢mc #t¢ set oui iy) n()tL 2-, 2.21 Foreign currencies "I'mn%i& ¢tion% Ln t¢iri'Jkm LILrri'nciL'S 9t¢ rransl•t¢d 81 rhe ex¢h*nKe t*t¢ nJinx ir the dite of tlic trins8¢titsn. Ic)niiar%' H%%LI% lind Uabikn'iiL$ in forei￿ currLncics arc irAnslaiLxl ar rai¢% uf lxcliank￿ rubng at ilic ba]ancc shLLt dAtc. Lxcl)atwL th'tlcrenccs Arc rccordcd in rhe 512reincni of flliAnciAI xcui-IriL$. Inc•m• from don•tl?n• •Dd 1•g•¢1•• Unrestricied Restticted 2021 Gtani income ..Irts (.i)iincil l..ngland .1.66().?01 -IM),INM) 3,669,261 200,000 692,109 1.4.17,()!? C-()VID19 %upEx>TI Other voluntary incorne DonAiiong and gifi$ 489,1 ]-. 1,036,676 489.11-, 5,598,046 5.108.9?9 4.979.?() DonatlOn5 and subscripiions Grants 2021 Anah'515 bv income ,Irts l.i)uncil P.ngland C()I'Tt)19 ￿8up￿Tr Pcrforn)aiiceb and touring 3,()69 ?()1 3.669.261 692.109 1,236,676 5,498,046 .4.4.17,9?9 1,-541.34n 4,()-l),?6• i.U36,6-0 4,561.3-11 Income from trading aetivriio• Uxvestricted Restricted 2021 Hite of Space and Pacikn'tie5 Scn'ice Jlgtcements Leaflet Djstsxbution 25.720 58,135 232,123 315.978 156,(A.5 ,140 451.064 i8.13) ?3?1?3 -31_i.9-8 Docusign Envdope ID.. A85A97F￿DE3A44A￿B08E-172118C8l1DB Northern Ball&t Umlt•d Financial 5ts1gm•nts fr>r th• y•4r •nd•d 31 M•rch 2021 30 Notes to the f￿anCIal statements (continued) Investrnent incom• 2021 Investment income compnses income from: Bank d¢￿Sit5 4,818 All of the ini'estment incomt is dtiii.ed from Assets withth ihe U Incom• from charltab•• actlvlti unTesiri￿ed RestTicied 2021 ?o?o 'I'()urinx J.LArning ,.Icadctn 189.0?1 ?1,468 210.489 37.577 295,866 543,932 3(),H?4 j?? 404 ?1.46 ? (J.14,?.1.3 .41) aiial!'$is of incomc fr(>m charitable acmitic$ b}. w)graphical market is given bcli)w.' 2021 UnitL,d Kinkdi)m Rcst {)[ IhL' world 2,199,892 115,038 2J14,930 ? 5?1).1()5 ? 6.14.?33 Exp•ndltur• on la￿0￿8 fund• Re8tii¢ted iotal direil ¢o&ts Unresiricied UDrestiicied allp￿rt iotal ¢0518 2021 ?020 dircci Toial Co$t F'undratsing ?)8,834 39,181 298,015 298,015 334,??1 Exp•ndlture on charltabl• actMtl•s U￿￿es￿leted Uttttstricted Uorestsicted dite SUPPOTr iotal costs costs Costs Re$tsiCttd total costs 2021 Toial Cost T(Iral Tnuring Innte 10) .4cadcm!' (note l 11 4,14_j,-?8 9_3..3_ ?6.194 61().j14 4.739.049 313,490 5.052.539 sn8,Inl 5.247.150 335,902 i30.i13 5.583,052 8,960.?n8 4111,343 J,361,i51 4,433,U?4 Docusign Envdope ID.. A85A97F￿DE3A44A￿B08E-172118C8l1DB Northern Ball&t Umlt•d Financial 5ts1gm•nts fr>r th• y•4r •nd•d 31 M•rch 2021 31 Notes to the f￿anCIal statements (continued) Analysis 01 support costs Total 2021 Tot21 F'xpendirure on rai4ii)g funds Iiinte I EKpetidLtiire on fAcJlL"ties %nd siie t￿rtageMen[ Expenthturt un charitable aciti'iuts (nutt 8)". Tuutin Cla￿51cal"Lramu1g 39,181 53,175 47.107 593,320 27.987 713,663 643,?49 %iipprJri cn4t$ rclaic to 4ci-cral actiiirics. and includc fi￿c[in￿$ such as P3NTnlL adinintsirxtinn, gciieral llla1141Reinenr 2nd building n￿rat11)g cosrg. SLtppon cosig are apEx)rrLOI)cd lJa%cd ihc nuinl)er i)f full time staff equii'alei)ts. 10 Exp•ndltur• on tourfng Unresiricied Re6tricied 2021 ?o?n r)Aticet4'1'1)urin% IxrkLrii)ky and Pre.4s 1,804.IKII 44(>..160 l.(1?ty.51)9 .l-'(>.864 4.8-. ? 3(),()61 1,804,001 60.7()? 507,152 S.IH.i 1,031,444 376,864 4,872 225,582 ? ?99,?97 ()114..1().I l)rchL'sirx Niw l>r(>diLeticin$ #nd Rcvii'#l$ CIvLr%Las-l ()Lir LLxrnin% l-()rpciratt %pnnsorslupll'rLmds Direcr SILPP()ri C.c)$1s DirLCI I)Lprcciaiiun In I Ic?IL%L, [?I'rfvnr￿nceS Leeds 1)ance l)ArtnershJp uppott (.osts Innte 9) 194.921 724,414 47 .1()5.Hl.S 24? ?}3 40.591 282,824 205.244 113,019 4,836 97,992 593J20 508.101 5,247,150 4.932 108.087 ?6,;..34 361,-3111 ()4.1,?4() .9()11,?118 1?7 97,865 4.-. 39.1149 Exp•ndltur• on a¢￿•mY Iclasslcal tralnlng) Unre51ricied Restricted 2021 .4￿8￿Cla1e (Jasse l orkshire YoutLg t)ancer5 Siipport Cosrs Inore 9) 35232 272.683 Zl,987 33 j,l)O? 9.3,1)8.% 275,.501 20.619 ?6.194 315,4￿J 401,343 Docusign Envdope ID.. A85A97F￿DE3A44A￿B08E-172118C8l1DB Northern Ball&t Umlt•d Financial 5ts1gm•nts fr>r th• y•4r •nd•d 31 M•rch 2021 32 Notes to the f￿anCIal statements (continued) 12 Governance costs 2021 2020 C7ni"ernance cnsts are broken doTrryi as follows and are inclvded wthin the charge fnr Sup￿￿ c(Isis.' EXtL'rt￿I RiKlit fee audit str4'Aces ch%rJiable compani. sub51d￿ne$ - nnn-auth't ￿e￿iCe$-.￿lRI. tagging 23,000 9,500 18,(N)O 9.-100 32,500 Fiirthtt non-al￿11 fees of Ll,-VX> ￿'ett incutrcd dunng ihe fLnancia] !e2r ended .11 Nf2rtli ?11?1 fc)t ihe Acad¢tnN' cl8itn rLI-iLw for Ihl ?019 ac8dLtnic !'Lar Li'lar LnJ¢d _31 NIRrcli •U•O fur *018 acadLini ycar grxiir ciAim'. Ll.1101 at￿ are included urythin l orkshire I nung l)3iiccr5 cn41$ In¢ire 11). staff co•t• Group 2021 Group )_ Group Company 2021 Compaiii, ¥ 41kt$ and %a12rie8 ()flAI %c¢i￿l[l. c()41S PLn%i()n co515 3,870,496 374.069 224,192 4,468,757 3.9.57 109 41111.(>?? •? j.{l¢)j 4.5(M).H?i) 3,675,874 356.909 214.564 4,247,347 -1,7frf).881 4,.10-,..561 1.hc *Yct#8c number of pcmtyncrti cinplo!'cc$ of rh¢ Cvfi>iLP Was 98 foll{)￿.$.. 3)21 Group Number 2021 Circ)up CompAn!' Numbcr Number ?o_ Cvmi)¥ii!' Nuinbcr PLiII iitnc eJnplo!-ecs Pari time cmploires 1?1 18 104 33 137 33 145 18 The Iiuinber of full riine equii'aknrs was.. 117 118 Full tinie equii'aletLt emplos-ees (eu into ihe follo￿￿ c¥tegories'. 2021 GrnTrup Number 2021 Group Compatj Number Numbet 2112U Coinpan!. Niimber Productin ..Idinitiistraiion Disttibiitton 89 29 89 125 117 118 13 Staff ¢osts (¢ontlnued EmploTrees tecei%wJg temutxerxtion iti exces5 oE£60,IXKJ are 2nal1.sed 25 follows". Docusign Envdope ID.. A85A97F￿DE3A44A￿B08E-172118C8l1DB Northern Ball&t Umlt•d Financial 5ts1gm•nts fr>r th• y•4r •nd•d 31 M•rch 2021 Notes to the f￿anCIal statements (continued) 2021 Group 2021 Compan!. ?o?o Coinpani Group £60,1)01 to £70.0(KI £70,IJOI to £80,000 £80,1)01 to £￿1,OlNj £90.1)01 io £lOO.000 Duritig rhe Jear rhe following amounts w'ere paid ro h￿her paid empiol-ees as shown aljove.. 2021 ?020 Ptnsjon cuntribuilons to monei. purchase schemes 18,940 41?n?n.. 41 hi%her pAid emploi'ees are accruing reriremcni benefits under a dcflncd cuiirribuii(>ii *cl)Lme. Ke> Nlanagement Per8onnel k¢!. Inii tilb￿li]Ll1¢ pLr*()riiiLI arl dcfincd as rhe trusrccs of and ihe $cniur managcmcni iLam uf Ni)rtliLrn IILI. l)Lirinx the !'eAr nf)-I ru%icc% receii-ed remtuicrAii¢>n rclating ii) w(>rk in their ptt)fcs%ii)n21 cAI?aciti' ?11?11 LNLII. Ni c>.1.￿S[eC$ receii'ed expen￿$ dwin8 the i'e2r IIIIP. IN￿). 'I'hL i(Ital cin()lumcrL15 ()f rhc kc%' fftan¥%cmcni p¢[￿￿111)e1 {%alaric%. wagcg. cmpli)i'cr4 Nll" l)cncfir% in kind, includin% pLn$i()n ci)$1s cxcliidinR c¥pcnsc% nccL$4xril!' Incum￿ duri1)% ihc pLrf¢>rmxi)cc i)f iliLir I dLLtLtig Ihc l'ear 1'6011.9?6 in rclaiirTrn 10 9 cmpli)!-ct%111??l).- L59?.()l.1 in ￿l￿[li}ll Ii) 9 cinplc)i-ce8). 14 Th• Ch¥rlty• •t¥t•m•nt of fln¥n¢l•l ¥¢tlvlll•¥ -I'hL chxriixble compAns. hR% taken adi'xntARe of %cciion 408 t)f Ihc C.oinpanics ..Ici ?IYKI and has noi includi,d Lts ()uY) statement uf financial %crii-iiies in the%e fmAnciAI statement%. 'I'he fmxncixl xctll'jties on pakFe 21 inclide 110.666.-. 811?V?V'. £.1• 685.131) uf incumu4 and £.8.?86.0411?0?0'. £,13.H?N,IMI?l uf tping te%(Trut¢e8 tel*ting to the {￿MpArt).. Docusign Envdope ID.. A85A97F￿DE3A44A￿B08E-172118C8l1DB Northern Ball&t Umlt•d Financial 5ts1gm•nts fr>r th• y•4r •nd•d 31 M•rch 2021 Notes to the f￿anCIal statements (continued) 15 Group Tangible fixed assot8 Fixrure5. ritiings Stage and office Coniputer equipment equipmeni Equiprnent l*asehold JAnd And Buildings Freehold propert). Motor Vebicles Tot21 .Ir 1 .4pnl ?O?O 460.000 U.IH6.791 559,841 121,788 j.lio 19,85. 14,8.49,704 23,603 50,000 RL￿.￿l￿An1j$I At 31 March 2021 510,( ,IH6,791 664,177 567,546 124,938 19,855 14,93J,J07 D¢prn -4t l .4prd ?D211 PThil'idLd in thL yvar 1249.084 575,896 494.500 63,381 .1,94() 9.483 2,392,344 169.06 ?4,.7911 At 31 March 2021 1.380,897 S(N)237 67J27 12,457 2.561.4(H Net book amount At 31 March 2021 510.( 11,665,894 63,691 18J64 5.429 7.398 12.270,776 -4r 31 l1arch 2020 460,fMM) -i,>33 16,396 6.?ll5 10,372 12,366 ?33 Group and Company The tieehnld p[rj￿rn- i-21ued bi .Idllit l)axt(Trn. C.hattered.%uTh-e!'oi at.31 hlatch ?O?l on an r)peii matket ?3n,300 "alue basiq If rhe Freehold properri- h8d not been re-i-alued ir ￿OUld hai'e beeji ijicluded ar a cosr of £"_ th accumul8ted depreciation oF£168.8(ri. Docusign Envdope ID.. A85A97F￿DE3A44A￿B08E-172118C8l1DB Northern Ball&t Umlt•d Financial 5ts1gm•nts fr>r th• y•4r •nd•d 31 M•rch 2021 Notes to the f￿anCIal statements (continued) 15 Tangible fixed assot8 (continuedl The J£asehold Jajid and Iluildiry are the home of the Coinp3ns' at C2uArfj' Hill in J£eds which has a 2q) l'ear lease I￿[h l£eds Cin- Council. Mie ￿mPli}I- moied into rhe budding in rlie ,4urumn of ?01 n and Irotn rh%1 date dcprcciauon was chargcd on Ihe assti. Ihc asset bt ￿'nIte￿ off oi'cr irs cstijnattd USL.fid of 99 ieAlS. Tht asser is siippunL,d the Ba]ante.ghett kn. a rL'SttictI.d IL'sett't of the %rants d()nated b!. Lteds Citi. CounoL.kns Cowicil Eng]2Th1 8t￿ generous donauons frotn supporrers of tile bujlding campawi. 16 Intanglbl• Ilx•d ¥JM•ts Group GOod￿ll Cost ,.1% ai 1 ,4pnl ?O?O and 31 Ilarch ?O?I 7L700 Amortisation ..ls ai l .Ipni ?O?O and 31 IL larch ?O?I 71,700 Net book amoiint Ai 31 Nlar¢h 2020 and 31 M¥rch 2021 17 Inv••tm•nt• Flx•d ••s•t Inv••tm•nts Group Listed investments C051 ,.It l ..Ipn] ?[)20 ,.Idditions Pqir i-aliic mni-ement 65,569 ?19,549 At 31 Match 2021 305.480 Company Subsidixry Undetlakings tasted investsnentS Total Cost .4t 1 .4pnl ?020 106,076 65￿69 219,i49 171,645 219,549 20.362 411.556 Ini'Lbtmtnt additivns Fait Traliie moi-emetjt At 31 March 2021 106.076 305.480 Included vnthin ("urrent InvestmenL% 1$ 2 bg]2nce nf £?.IKK>.IMX) of cash on deposit Docusign Envdope ID.. A85A97F￿DE3A44A￿B08E-172118C8l1DB Northern Ball&t Umlt•d Financial 5ts1gm•nts fr>r th• y•4r •nd•d 31 M•rch 2021 36 Notes to the f￿anCIal statements (continued) 17 Investrnents (continuodl Propbnion of value Counts%' of Class of Regisiration Shares heid F.ngland £1 ordi113Th' held incipal a￿l￿tieS Dnrinxi)I N()rihen) Ilaller Thearre Compani. U'ropern,) LJmJicd10?466-.£¥)) Infu DisplA!. Llmittd ((U39?8?7 EtkRl#nd £1 ordJnxg' 10(W,' Lexflet dIstr￿Ution cninpan!. fnT tlic aTIS and licrirxge sectnr Dti'clopinciii %iid producuon of ballets Northern Ilxller Pr(wJuctions lJmited F.ngland {0990??Oil £1 ordmaTh 11)(V.' Opetalions of tradin% $uhidi#ties Year ended 31 Marcl? 2021 Ycar ended 31 Nlxrch ?11?n Il %ummary' of rhe re%iilts of rhe trading subsidi%n' Info Di4pla!' Limited Are set our beloTrw. l urn(Ji'cr (includi￿ itsiercsr rceen-able) thL'r liicc)me 207,461 119,617 (325,5271 I￿51 4%1,1 ?0 npLraiinK cxpcnscs ()PL'tAiinx pr()_ 1.551 118,183 Rttiiincd pri)fLts At l Ilptli_￿?O Pai'menr undcr Gifi.4id 112,405 (97,1081 16,848 1?9.516 111.5,?()41 11?4{15 Rctained profLts At.11 N12rch ?O?I Docusign Envdope ID.. A85A97F￿DE3A44A￿B08E-172118C8l1DB 37 Northern Ball&t Umlt•d Financial 5ts1gm•nts fr>r th• y•4r •nd•d 31 M•rch 2021 Notes to the fmancial statements (continued) Investments (¢ontlnued} Operations of trading sub8xdiary (continued) 31 March 2021 31 Nlarch 2020 The net assers and babitsiies of the subsidian. Info Displ3I' 1.imiied wtre". F'ixed assets 3J64 Curreiit Xssets Cteditots". Amounts fa]]mg ￿￿thin one l'ear Ner current assets 102,039 3i6.891 951}.61161 IU6,?8fj 13,584 I'nral assers less currenr iLabth"ries 16,948 .Iggregate share capiral and re4eTh'es 16,948 Ylar Lndcd 31 March 2021 Ylar LiidLd .11 Mxrcl) ?11?0 Il %umm*ry' of thi tL%uli$ of rhe tt#din8 $ubsidiin' N(Jnh¢rn Il*llei Pr()ductii)ns IAmited arc set i)ui bek>w'. .1 urn()i'er (in¢l[￿ing inierc$r rcceti-#ble) C.hArKe8 2081298 (2.597.255) (514,957) 514,957 4,?()?,(>().3 14,M.s",,(J7 1594,.114?1 -594,381 I INIRC I'hcRrrc & I,ilm'l ax Rebcf c.laim Retained in subsidixD' 31 March 2021 .31 Mxrth ?()?() Thc nct Asscts and babLiJ'tics of the subsith'ary. h'orthtrn Ballct Prudiictjuns LLmLtL,d *'L're '. C.itrrent Creditor% .' 8mounrs falling due wirhin ojie i-e*r Net cuttent asset 1,118J77 1.118 376 Toral xssers less current habiliues Agyegate share c8pir81 and reseTh"es Northern Ballct Productions Ljmitcd make a claim for Thtatre Tax Rdlef and Fthn Tax Rchef for 7 prodiicuuns itx the %"ear. .4ccotdAngli" the ljnancial st2temenis include a debtor and income receivable tsf £S14,1)5-1_ ?O?O.. £il)4,38il in teiation to thi5 c]aillL Docusign Envdope ID.. A85A97F￿DE3A44A￿B08E-172118C8l1DB Northern Ball&t Umlt•d Financial 5ts1gm•nts fr>r th• y•4r •nd•d 31 M•rch 2021 Notes to the f￿anCIal statements (continued) 19 Stocks 2021 2020 Gtoup and Cornpanv BallL't shue5 26.005 10,932 Programmes and btochutes 10,932 10,9.12 Duting th¢ !¥8r LV4.591 of B8llct 5ho¢s were reco￿]Sed 8n expense. No stucks WLL£ WLirt¢n uft iii diL pcrind 20 D•btor4 2021 Group -y)20 2021 Company GIOLLP CompAI)I' I rxdL, debr()r% l)rliL'r dL,bti)r4 PrLpxvinLnt$ AccruLd inc(Trmc ,.Imi)untg du¢ fti)m $ub$idiAn' underrakjngs 185,524 ,129J49 122,Q39 37,536 139,302 11,691 104.132 37,536 1,176,287 1.468.948 10().?.50 H.(>()7 17(),4.1¢) 117,?1 1,111.3.114 1,4?14.446 111 ?15 1.474.448 N() impairment losses ?O?O.' LNfj) w'ere rec(¥Tused Apnsi debrvrs at 31 March ?O?l. Nu interL'St is chArBtd ()n iniercrimpAny bAiAncts and all xtt ￿Pa}.ab]e on demAnd. 21 Cr•dltorn: amount• falllng du• wlthln on• y•ar 20 Gtoup ?o?o Group Compan 2021 Compxiii Trade cteditors .4muuntb due to Subs￿l2ry undertxkthgs SocAal setutit%" and vthet tLNes Cotporation lax Pension cotitribuiions Other cteditnrs 147.146 143.737 loo ?64,457 iuo 52J62 832 26,875 S292 59.600 159,605 1,147,711 1599.413 160,491 25.494 ?-,.30) 46,416 122,683 26,875 5292 59.600 140,943 1,146,019 1,568,982 26,117 Pen%inn deficlr .ICcn￿IS DeFetred income Inore ?? 29i.890 i61,4?9 .486 ?63 279,9?0 384,802 1 921,366 TheIe is tLn li3biiin included ￿thin C.rethtors for ho]idaTr pa!" in ￿￿1 due to the leai"e taken whd8t toutingwas suspended l?O_W: f6.66ry Docusign Envdope ID.. A85A97F￿DE3A44A￿B08E-172118C8l1DB 39 Northern Ball&t Umlt•d Financial 5ts1gm•nts fr>r th• y•4r •nd•d 31 M•rch 2021 Notes to the f￿anCIal statements (continued) 22 Credltors: amounts falllng due after one year Group and Company 2021 2020 Nei PTesenr value of fun]re pension deficit reduciion pai'n*nts 314.618 -35I).11}7 23 D•f•rY•d Ineom• 2021 Group 2020 Cornpan!, DLf&rrLxl inci)Inc br()uRhi futw#rd RL,IL'A4I,d iti rhe i't%r l)L,fLrrLxI in the lear 561,429 (398,015> 984297 1,147,711 384.802 (221J88) 982,604 1,146,019 l)L,lerrLxl inci)me c2rried fi)rward l)LfLrrLd iric()mL xr .11 Nlxrch Vl?1 iricludL% IliL fi)11(>winK kc!. itLm%; L?.j(l..i.3-' aiid L.14 j.()18 rLcLiI'Ld fri)m ,.Iri% (.()uncLI I'.nklxi)d t() the wf)rK ()f the c()Inp2ns' ()n if)ur in KX'alLN. *()Ilxi)d &, N(IL'IIILrn Irelknd And ()ur M-cTrrk i)n (.'hJdrcn's baUet*. LOIMI.IKMI receEI'cd fThim (Jxrficld Ilcr th• y•4r •nd•d 31 M•rch 2021 Notes to the f￿anCIal statements (continued) 25 Share capital Group and Company 2021 ?o_ Auihori5ed l(K) C)raitia4 bhares of £1 each loo l(M) Allotted. called up and fulty paid ?9 ()rdinan' share% of Ll each 29 ach hulder of a Share or Shares ts entirlcd iu i-ort at a w*ering of Sharehuklcrs in accordayjcc with the mcmarandum and ariicicg of a&sr)ciaiion of ihe compank. I'h¢ ('ompani' is iimii¢d b>. &uaNnr¢e atKI each Ttusi¢e h#s und¢rtAken ro coniribure 8 maximum uf £10 to th< cosrs of the compxnv in th¢ ￿'¢llr of • windinx up. 26 Total Capital tedernption reserve 'I'I)C' CAPl1111 ridL'iiirill()i) fLSLtI'e Arose i)n hisri)ric shares ￿purChASed bi the (A>mpAI)}'. Irs i'Alue is £.,14 (•(l•n.. £141. Resiricted funds Rtsrncttd incnmt tund% Ire furthtt dtt*iltd in the foUowin% t2blts and notes. Revaluation tesetye -I'hL rei'AiLlXtI()n re>LTh-e rtprescnis the Surplus cre21ed un the M-alufition t)f Ilcllmgtvn Ntlll. Designated reserves Ile%igiiatcd tuiid% represent fuftd$ which The rnLsf¢e$ hAi'e 8ft *5ide for a $pecifi¢ putpose, For funhet dLixJs scc folloTh'ing tablc ar￿ nores. Other charitable fund8 C)Ihcr cliaritAI)Ic fund5 repre%nr$ ¥ll rurreni and prM)r period wirestticie& widesiyiared reraiiied iftcome and expendirure. Docusign Envdope ID.. A85A97F￿DE3A44A￿B08E-172118C8l1DB 41 Northern Ball&t Umlt•d Financial 5ts1gm•nts fr>r th• y•4r •nd•d 31 M•rch 2021 Notes to the f￿anCIal statements (continued) 26 Total funds (continu￿) Income funds are analised as follows.. Moverneni dwing the year Incoming resource6 Balance ai 31 Match 2020 Balance ai 31 March 2021 Expenditu Gtoup Re5tricied BiLilditi% ptoject fund F.,diicatiun prul¢sSiUTJRI trathJn% L.'diicatic)n pry)jects Pr()ducrinn tut)d 1179".,855 134.141 33.69", 11,666,042 20.240 82.731 40,944 339,052 103J30 8,549 ?08.-14 288.5)2 DancL I)aTtnLr5hip •1.468 9-,.86.5 14..194 r)iRLral Pr()jecr.% Pund (.russ Ilurdet'l'uurin% 18n.(M)I 1? 484,74.1 S10,-ill.S 12,440.889 Unre81ricied 181.431 2.534,930 12,665,974 8,814,273 6,504,428 14,975,819 Balance at 31 March 2020 Movement during the >exr Incoming re$ource$ B#lancc at 31 March 2021 Expenditure Company Rcstricied Biiilditih, pri)Icct Fund E,'diicatic)n prc?tes%Jon21 trau)ll¥ .diicatinn ptojects Productic)11 fwid CliJilrcii's Ballets Dxnci PxrtnLrslll"P ,4sset Pund Digir21 Projecrs Fund Cross Bordcr Tounng 1179-,.855 24,012 134.141 33.01)-. 11,666,042 20,240 82,731 40.944 339,052 103J30 8.549 ?1.468 97.865 14.194 47.(KKI 180.IKII 12.484.i43 180,001 12,440,889 iIO.i8i Unresiricted 199563 10.li6.196 -,31.80? 2,623,957 .684.106 10.666.781 8,286.041 15.064,846 Docusign Envdope ID.. A85A97F￿DE3A44A￿B08E-172118C8l1DB Northern Ball&t Umlt•d Financial 5ts1gm•nts fr>r th• y•4r •nd•d 31 M•rch 2021 Notes to the f￿anCIal statements (continued) 25 Total funds lcontinued) R•strlet•d fund*- Group and Company The Building Proje￿ fund e%r*blished in the l'ear ended 31 h12rch ?(X)I bi donatioiis from vatioiis eniitics. DotJxiJons 10 fiind u'crc used io d￿'t10P the Comp%n!' s biuldmg Qu2rTh' I Illl. Leeds which the C.otnpAni moi-ed ￿10 in C)ctober ?010. LX￿ndYtUre iii the leat refeTS to one }ear's depreciation charge. The building is being depreciated oirr 99 }'ear%. The Education Profe58ional Trainxng fund was esiabhshed in the lext end1￿ 31 IL larch ?(K)5. The putpc)se OE IhLS fiLtxd Js 10 dLTh'tlop the pttslessionxl dxnce trainjnk prtswmine. Successful apphcanis airend a five lear dance training scheme afrer schcM)L ai the w'eckcnd and durii]g scl)cx)I hi)lJdai'%. The Education Projecis fund ￿.￿% e%iAt)li.qhcd iii ihc }'ear enth"ng.11 Nl%rch ?an9 wirh don%iinn% fri)In nLIITJL'r¢)11.4'1'rii*l* AnLI I,()IlllLlatii)118, Ihe conditiuns uf the donarions sttpulaie rhe edutRtiunal wc)Ik t(J bc $iippurtLd. In ihL' %'Lar rhis fund has supwrreJ a pwgramme uf thcarrL i'tsiis and wurk¥liups f(Jr chJlJii'n ot xll Rbthrie* ui LLed.4. wcirk%hi)p% and pcrfc)rmai)ces fi)r rhc ii%uall!' imp%ircd. daiicc cNpcriei)cc fi)r wlIL'L,IcliaJr u4e4, x pri)jLcr ￿,111} A cliildrci)'% l)n%pice l£ed% aiid aii iiiien)arL()i)al re%carcl) pn)jecr t(> dLI'clop %aft practice for i¢*¢hing p¢opl¢ with l¢aming th"$Ab￿lI1¢s. The Production fund rcfleci$ dunaiiuns fwm trust$ xnd inth'i'Kluals gii-en un rhc condiri()n Ihxi tlic ii)c()me bc u$cd ro.4uppun thc dD-clupinent of ncw pr(MJucrv)1is. The Children's Ballet fiind ￿.?8 c%i#bli%hed in ih¢ !'e#t cndin%.11 Nl#r¢h ?01.1 i(} Sup￿}rI the dci-ekiptnenr ()f 5horr baUcr$ for cl￿dren. l)unauons hai'c rccciicd frr)m.,Ir(s CouncJ l..iiKlaiid. The Dance Partnership fund ￿,** ¢si%biLshed in the lear endL"n8.11 ,Ilarch 7116 Wlth fundiiiK fr()m .,Iit% (.()utitil l..t1hrlai￿. 'Il)L' PUtp()%c i)f ihc dc)rtaiicTrrt WLS ri) %uppTrrr #n initJ*rivc t<) tieAte A N()i-Ih (if F'.rigl8nJ ceIiire ()[ dancc iji IKcd% ihis wi)rk c()IllLJiucd in ihe !'c8r cj)dJiig.31 Nlarcl) •(1•1. The Asset fiind rctlects a donation tecei%'ed tn the )tAf etkled .31 N1arch_￿jll which WA$ ugcd to puitIIASC likphtinkP t()r pti)duction%. l-.xpenditt￿e th rhc i-car rcflects the dcprctiArion char￿ oi) 11iC A%%tt. 'I'hc as$er will be depte¢i#ied oi'er 5 1'e#rs. Thc Digital Projccis Fund rLtILCt$ a dunat￿n receiled m thc endLd 31 IN[arch_￿?0 to %upptsrt thc cteativn uf Llllidten'5 BaUet5 as fi]ms suitable fot cinema and other dw.tal release. Ct1155 Bordet Touring reflccis fundi￿ receried from .Irrs Council F.￿lInd io deliver perfonnarLces UU151dL uf Lngixnd but With￿ the L'K Docusign Envdope ID.. A85A97F￿DE3A44A￿B08E-172118C8l1DB Northern Ball&t Umlt•d Financial 5ts1gm•nts fr>r th• y•4r •nd•d 31 M•rch 2021 Notes to the f￿anCIal statements (continued) 26 Total funds (continu￿) Designated ResetYe5 Movemen¢ duting the lear Ilalance at 31 NtRtch Balance at 31 March 2021 Incoming tesoutces Expenditute Gains and losses Group and Companv Designated Rcsetve¥ The Flood ReseThe The InvLsiment Resen'e j9j.?48 169.i69 595,248 305,479 900.727 115.54A 115.548 20.362 The Flood Reserve set aside 10 the insurance seiilemenrs receiiL,d And receJi'Able f(Jlli)wing tli¢ tl()i)d thi r(Jtnpan%' ￿[Or¢S ?6 DLcLtnbcr ?01 i. li is Ihc iniLniion iliAi rhLSL rLsL Th-¢5 will bc 1i4LJ tu buthl flirl￿( prudliciions. The Inyestrnent Reserve rcpre%enrs fw?d% ser a.%ide ￿. rhe iDJsrec% ro ini'e%r a% % inanARtd i11￿C$11￿e1][. It is th< itit¢titi()n ()[ Ihc irustees thir Ihi$ fund will I￿ dth-cloped ui'er rime ru ¢rc4tc #n *dditiun#l in¢(Jme srrL4im fur IhL charity.. 27 Ahaly•l• •1 group n•t *•Mts b•tw••n fund• I,'uiid balancc% at 31 Nlarch 2021 are represcntcd b!.: Unrestrieted Restricted funds Funds Total Fund& l Atiwble fLxcd a$8eis liii'L*tinLnis CurrLnt aSSCl.4 C.urrcnt IiRbJh"tiex l.()ng tetm liahilitie$ Toial net a8$el8 ?99..549 11,0 14,-$91 12,274,140 30i.4RO 305.480 3.i43.985 4,310,283 (l..j()9.4?.31 11,599,423) -114.C)18 314,618 2.534,973 12,440,889 14,975,862 766.-W8 28 P•nsion8 D•fln•d contrlbutlon sch•m• - Company I'lic l.nmpoii!' nperAre* 1110llC!" purcliA%e pcs)%inJi schemes for the benefi¢ of the einploi-ees. The assers of the bchcmc are adinjnisicrcd b!. t￿￿te¢s. in a fund umlepcndeni (rom ihosc o( Ihc Compani,. Deflned benefit ￿heme - C•mp•ny Tlie (.nmpsni contribured io a defined benefit sclietne. rht "Petision %cheme For.4dministrarion and Technical Sraff in the."Irrs" for Th￿.0 einplolees io 14 Decetnber ?01 ? From dxte all accn)al to thc schcmc cndtd. The Comp2n!' rcn￿llls ]J2blc for ils p)nion of (hc dcficit in schcmc funds. The asscts DE the scheme are admjnisteted kn" a trustee, in a fi]nd indepcndetLt fium thv5e uf the Cumpan)". 'Ilie SChe￿e 15 2 tnulti-emploi-er scheme 2nd the C.omp3ni- is utLqble to identifi" it5 sliaie of tlie ￿lde1]I￿g assets and l]2bilJries. .1$ noted in rlie pnnclpal.lccounri￿ Poljcies there Js a fi]nd1￿ ayeement iji place to e]iminate thai elen￿nt ol the dclicAt in thc which AS rdatii"e to the Compan},. Docusign Envdope ID.. A85A97F￿DE3A44A￿B08E-172118C8l1DB Northern Ball&t Umlt•d Financial 5ts1gm•nts fr>r th• y•4r •nd•d 31 M•rch 2021 Notes to the f￿anCIal statements (continued) 27 Ponsions (continued) The pEincipal cnnc1us￿)￿S of the last tnejullal i-aluatirJA gt.31 hIArch ?O?O estynated a f￿lJillg 4hnrtfaU nf "? ?99.OtM) l?n?a.. £? ?99.(M)01. Northem Ilaller, %% one of sei-eral emplo!'eTS resi)oiiqibl¢ for fuiiding rhis shorifall, agreed ro make monrhl!- coniriburions of £i.18i for tel) I-exrs. p31'Inenrs commenced l Juli. 201-, .1 ￿2b￿L"Tr has I￿en recogmsed in Iht balancc shcet. in accordance with FILS 10? equ31 to the ntr Pttstnt of thtst futu￿ defitit tedutuon paiinL'nts. The paiThtnts ate dis-counttd tu presetxt Nalue using a Field curve deni.ed from_ll rated Ixinds in the ￿(}￿¥ stedujg c(IrpoTate bond iiidei, this gai'¢ g r%rt i)f 0.5-0. The net presenr i'alue of rhe sum of the reinxining monrhl!. coi)rril)urioi)s as xr 11 IArch ?O?l is L3:. 4.?181?090". £414 740) And ikn"s has bcen rtctsided Xs a habihi!. in iht balanct sheets of thL. Cjfuiip And thL. Cumpan!.. Lig,6001-ty_￿.. Lii.i43) th crvditurs Fallin% due urythin and £-314.61141?11?{l.. L3il).1971 in creth'ic)rs faiith8 due after one lear 28 Related party trnh*actlons In #ttotdancL' wirh PAfA%Thph 33.1..l uf l.'IL% 10? lh¢ ¢omp•ni. has iAken #di-#ntA%e of the ex¢mption to pwi'idL d¢rad￿ o( relared pani. rIan$acrion$ with its wholl!- subsidian. undLnakn'y)gs. 29 Capltal ¢ommltm•nt• I'herL' werL' no cxpiial cviThnitinenrs as 2r 31 IIArch ￿?1 I￿￿.. £￿￿). Docusign Envdope ID.. A85A97F￿DE3A44A￿B08E-172118C8l1DB Northern Ball&t Umlt•d Financial 5ts1gm•nts fr>r th• y•4r •nd•d 31 M•rch 2021 Notes to the f￿anCIal statements (continued) 30 Consolidatod Statement of financial activiti05 - cofflparativ• Restated UttrestriLted Fiinds Re$¢tiLted funds 2020 No INCOME Incume Erum donations 2nd legacie5 Income from rradjng #crn'irieg Income from charitable 2Ctii'ities l.111.4J5 4.979262 794,849 2,634,233 4.818 -,94.849 2.634.?33 4,818 Total income 7JOI,727 1,111,435 8,413,162 EXPENDITURE Expenditure on raising fund8 utidraL4iiig 334,221 -Y).571 159,499 332,599 826,319 ItAt)ei di.%tribLLllC)n 332,599 796,748 29,571 Charxtable activitie6 7.11-.8.-346 .l-.Y.(i*. 8257,1)01 8,960208 401J43 9J61,551 ..IcAdLmi' Icla>sical trAinin 22,688 1,104,550 Other expenditure C5()()d￿'llI gtnuriL>ii¢ion 16 Toial expenditu Taxaiion I'hL'Rtrc tRX tebef mcome Tax on profit on otdinAty' actt11tie$ 9,053,749 1,134,121 10,187,870 594,3115 594J85 594?85 594J85 Other rccogni5ed Fair i'alue xall)/U ) vn Llldisted iM'estn*nts oss 17 (4J19) (4J19) (4,319) (4 J19) Net in¢ome/(expenditute) (1,161,956) (21686) (1,184,642) Reconciliation of fut l utal fijnds brought fUr￿￿a 1,343,38 1 1? 507,??9 13,850,616 Totsl fund8 cattied forwatd l81,4_51 12.484.543 12.665.974 Docusign Envdope ID.. A85A97F￿DE3A44A￿B08E-172118C8l1DB Northern Ball&t Umlt•d Financial 5ts1gm•nts fr>r th• y•4r •nd•d 31 M•rch 2021 Notes to the f￿anCIal statements (continued) 31 Financial a￿￿ts and liabilities 2021 2020 Financial assets measured ai fair value through stsiement of rinaneial activities Itii'esftntslls 305,480 305,480 6i.-569 Financial asset5 measured at amortised cost 14Ank ai)d Cash In￿'eStMen[8 'ltsde debtors 8nd utheT debiors 809,830 2,1)00,000 1.352.409 4.162.239 901.956 Financial liabiliiies measured at amortised cost 'I roJL ('r¢Jit()T ()rhtr (-reditors .,Iccruals 147.146 91,767 159.60.5 398,-518 ?6().-166 .1) H4l) 32 Job R•t•ntlon S¢h•m• Incom• I)ILfLll& thL' IL'ar IliL' kFri)up rL'CL'JI'i.d L.I,-_11.9¢)11 (bf mcc)mt relatin% r() the l()b RL¥tents()i) Schtme fTh)In thc LIK (If?I'L'mmeni. 'Ihis schemt en*bicd tinpl¢))'trg ri) clajin bAck %aiAn' ccTr%t% flir eJnpl(i!'ci44 ￿, FILtII>iLgh¢J as A r¢.%ult {)[ Ihc di%rupiic)ii ¢*u%cJ bi. Ihc C'.l)I'11)19 piJ)dcmic. 'Il)i4 inc¢iin¢ w#4 recciK'r as an unrL%lriCtcd rxrff)rnixnct rclaied Rrxni as IhcrL ￿￿$ nf) rLstriClLI)l) l() thL' chxriiabli, purp()*e fi)r which the funds CULdd be used And At the .31 NIArch ?(l?I tlicre WA.% a balAnce i)f £.34,IC>_ Telxting in furlD¥hed stAff %Al*rb' costs fot Nlxrch whith liAd }.'et tc) be tlAiined (?r teceived.