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|||||Page|
|---|---|---|---|---|
|Reference and administrative
details|||||
|Report ofthe|Trustees|||2-17|
|Independent|Auditor's
Report to the Members||of British Ballet|18-21|
|Organization|Limited||||
|Consolidated|Statement|of Financial Activities||22|
|Consolidated|and Charity|Balance Sheet||23|
|Consolidated|Statement|of Cash Flows||24|
|Notes to the|Financial Statements|||25-38|
##
|Company|registration|registration|registration|number|01402656 (England|and|and|Wales)|||
|---|---|---|---|---|---|---|---|---|---|---|
|Charity registration|||number||277177 (England
and||Wales)||||
|Governing|document||||Memorandum
and Articles ofAssociation||||||
|Organisation||structure|||The affairs and property|||ofthe charity|are||
||||||managed
by a Board||of|Trustees which may|||
||||||exercise all such powers|||ofthe Trust|as not||
||||||required
by its Articles||ofAssociation||to be||
||||||exercised
in general|meeting.|||||
|Trustees|||||Mr N H Espinosa
(Chairman)||||||
||||||Mr N Copeland
(Resigned 13April 2022)||||||
||||||Mr J C N Jones||||||
||||||Mrs K G Rieveley||||||
||||||Mr S LJ Banham||||||
||||||A M Walker MBE||||||
||||||Mr R Thorn
(Appointed||1 March 2022)||||
|Chief executive|||||Mr R Bloor (resigned|31||January 2022)|||
||||||Mrs F Knower (appointed|||1 February|2022)||
||||||Mrs J Bowers (appointed|||1 February|2022)||
|Registered||office|||6th Floor||||||
||||||25 Farringdon
Street||||||
||||||London||||||
||||||EC4A 4AB||||||
|Business|Address||||Unit A||||||
||||||Ensign House||||||
||||||Battersea Reach||||||
||||||Juniper
Drive||||||
||||||London||||||
||||||SW18 1TA||||||
|Auditors|||||Kreston Reeves LLP||||||
||||||2nd Floor, Springfield||House, Springfield|||Road|
||||||Horsham||||||
||||||RH12 2RG||||||
|Bankers|||||National
Westminster||Bank pic||||
||||||149Church
Road||||||
||||||Barnes||||||
||||||London||||||
||||||SW139HS||||||
##
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||Supporting
the Membership
during a period of intense concern,|Supporting
the Membership
during a period of intense concern,|Supporting
the Membership
during a period of intense concern,|frustration,|frustration,|and sense|and sense|of isolation|
|---|---|---|---|---|---|---|---|---|
||Increasing
the membership
numbers||||||||
||Increasing
student
numbers
on the Teaching
Qualifications||course||||||
||The|introduction
of:-|||||||
|||o
a Level 3Teaching Assistants
course|||||||
|||o
an online conference|||||||
||The|ongoing
operational
issues enforced
by the pandemic:-|||||||
|||o
Rearrangement
ofor cancellation
ofactivities due to the pandemic|||||||
|||o
The increasing
use ofonline services such as Members||meetings,||Webinars||and CPD|
|||events as well as supporting
our Scholars scheme|||||||
|||o
The provision
of increased
Financial
and Regulatory|information||||||
|||o
The application
for external
financial
support.|||||||
|||o
The Health and Safety implications
ofthe pandemic|including||risk|assessments
and|||
|||contingency
plans|||||||
|We are proud to be an Awarding
Body and,
in the normal course of|||events we||are|able to|offer a range of||
|services,|including
the conducting
of examinations
and the provision||ofcourses accredited||||by|the UK|
|Government.|||||||||
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|KEYAIMS|||HIGHLIGHTS||
|---|---|---|---|---|
|Revitalising|and enhancing|our core products.|Progress as originally
intended
has been||
||||interrupted
by the pandemic,
forcing us to delay||
||||our plans for syllabi development.
Nevertheless:||
||||~
We were successful
in proactively||
||||approaching
members
and non members||
||||via conference calls.||
||||~
We grew the enrollments
to our online||
||||Teaching
Qualifications.||
||||~
We launched
a Teaching Assistants||
||||course||
||||~
We piloted a very successful
online||
||||conference||
||||~
We ran and concluded a highly successful||
||||"multi genre online Choreographic||
||||competition"||
||||~
Towards the end of2021 we were able to||
||||arrange some "live/in studio" events:||
||||o
CPD in Birmingham||
||||o
Nutcracker
Repertoire
workshop||
|Focus on Financial goals|||The emphasis
continued
in 2021,as a result|ofthe|
||||pandemic,
with the focus being attracting
external||
||||financial assistance
and cutting costs.||
||||The aim was and is to ride out the pandemic|and|
||||economic repercussions
with a sensible and||
||||flexible approach.||
||||We commenced
the ultimately
successful||
||||application
for finance under the Governments||
||||CBILs arrangements,
took advantage
again ofthe||
||||JRS and sought additional
funding
from a||
||||sympathetic
Trust fund.||
|Service and|scale||As a result of the isolation
and fear many teachers||
||||felt as a result ofthe pandemic,
we considerably||
||||increased
our communications
with Members|and|
||||non Members. As a result, the numbers
of||
||||Members
continued
to rise.||
||||We successfully
utilised the internet to continue||
||||and enhance
many of our services.||
||||We coped proactively
with cancelled
examinations;||
||||alterations
to the Scholars programme
and CPD||
||||events||
||||We have tried to continue the training
of new||
##
|||||examiners
but this has proved problematic
due to|
|---|---|---|---|---|
|||||restrictions
imposed
by the pandemic.|
|Develop an|international|and|regional|The pandemic
forced,
in Australasia,
curtailment
of|
|programme||||activities. Nevertheless
it is expected that the|
|||||branch
will produce a robust financial
performance.|
|||||The Director or Artistic Development
has increased|
|||||regular communication
with the branch and is|
|||||utilising
the marketing
established
from the UK to|
|||||help foster new members.|
|||||This marketing
has increased
our international|
|||||membership
considerably.|
|||||The regional
development
in the UK was greatly|
|||||curtailed
by the pandemic
but the Regional Reps|
|||||meeting
was held online and members
had a lot of|
|||||opportunities
foraccess to the Director ofArtistic|
|||||Development.
At the end ofthe year a schedule|
|||||was put
in place for "live" Regional
Meetings.|
|Partnerships,|collaborations||and external||
|expertise||||The Director ofArtistic Development
continued
to|
|||||foster a collaboration
with a major dance school.|
|||||We welcomed
the arrival ofa new Teaching|
|||||Qualifications
manager
who comes with enormous|
|||||relevant experience.|
|||||We took an active role in a racial diversity
program|
|||||and symposium
with other dance organisations.|
|Marketing||||The investment
we could make into marketing
had|
|||||to be curtailed
and we will re evaluate
this role as|
|||||2022 progresses.|
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|Executive Chairman|Executive Chairman|||
|---|---|---|---|
|CEO (Chair)||||
|Director ofArtistic|Development|||
|Head ofTeaching|Qualifications|||
|Head of Operations||||
|Head of Finance||||
|Examinations
and|Syllabi Development||Manager|
|Regulatory
and Quality Assurance||Adviser||
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||||||2021|2020|
|---|---|---|---|---|---|---|
||||||Total|Total|
|||||Note|||
|Income from:|||||||
|Donations,
Legacies|and|Grants|||167,552|150,608|
|Charitable
activities:|||||||
|Membership|||||73,811|72,795|
|Examinations|||||295,016|'I83,209|
|Educational
programmes||and events|||327,392|302,316|
|Other trading
activities|||||134,667|135,68'l|
|Investment
income|||||1|469|
|Total income|||||998,439|845,078|
|Expenditure
on:|||||||
|Charitable
Activities:|||||||
|Membership|||||(67,743)|(80,023)|
|Examinations|||||(569,914)|(396,635)|
|Educational
programmes||and events|||432,539)|(519,844|
|||||7|1,070,196|996,502|
|Raising Funds:|||||||
|Other trading
activities|||||(8,418)|(1,762)|
|Total Expenditure||||7|(1,078,614)|(998,264)|
|Net expenditure
and|net movement||in funds||(80,175)|(153,186)|
|Tax on activities|||||||
|Net movement
in funds|||||||
|Reconciliation
offunds:|||||||
|Total funds brought|forward|||19|3,698,442|3,851,628|
|Total funds carried|forward|||19|3618267|3 698442|
##
|||||||Group|Charity||
|---|---|---|---|---|---|---|---|---|
||||||2021|2020|2021|2020|
|||||Note|f|E|F|E|
|Fixed assets:|||||||||
|Tangible assets||||11|3,304,337|3,434,872|3,304,337|3,434,872|
|Investments||||12|||100|100|
|Total fixed assets|||||3,304,337|3,434,872|3,304,437|3,434,972|
|Current assets:|||||||||
|Stock||||13|3,444|3,771|||
|Debtors||||14|204,610|315,338|204,510|315,232|
|Cash at bank and|in hand||||526,054|251,081|523,523|249,376|
|Total current assets|||||734,108|570,190|728,033|564,608|
|Liabilities:
Creditors: amounts||falling|due within one year|15|~320,778|~306,620|~340,553 ~330,558||
|Net current assets|||||413,930|263,570|387,480|234,050|
|Total assets less|current||liabilities||3,718,267|3,698,442|3,691,917|3,669,022|
|Creditors: amounts||falling|due after more than one ye|16|(100,000)||(100,000)||
|Total net assets|||||3,618,267|3,698,442|3,591,917|3,669,022|
|The funds ofthe charity|||||||||
|Unrestricted
income||funds||19|3,618,267|3,698,442|3,591,917|3,669,022|
|Total charity funds|||||3618267|3,698,442|3 591 917|3,669,022|
##
||||||Group|Charity||
|---|---|---|---|---|---|---|---|
|||||2021|2020|2021|2020|
||||Note|F||||
|Cash flows from operating
activities
Cash used in operating
activities|||22|150662|~87,249|149836 ~68,385||
|Purchase oftangible
fixed|assets||11|(690)||(690)||
|Interest income|||6|1|469|1|469|
|Cash provided
by /(used
investing
activities||in)||(689)|469|(689)|469|
|Additional
borrowing||||125,000||125,000||
|Interest
paid||||||||
|Cash provided
by / (used
financing
activities||in)||125,000||125,000||
|Decrease
in cash and cash
in the year||equivalent||274,973|(66,780)|274,147|(67,916)|
|Cash and cash equivalents
beginning
ofthe year||at the||251,081|317,861|249,376|317,292|
|Cash and cash equivalents
ofthe year||at the end||526,054|251,081|523,523|249,376|
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||The summary|financial|financial|performance|performance|performance|performance|ofthe|charity alone is:|charity alone is:||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||||2021f|2020f|
||Income|||||||||||984,798|835,024|
||Gift aid from|subsidiary||company||||||||8,293|10,801|
|||||||||||||993,091|845,825|
||Expenditure
on||charitable||activities||||||(1,070,196)||(996,509)|
||Net expenditure|||||||||||(77,105)|(150,684)|
||Total funds
brought
forward||||||||||3,669,022||3,819,706|
||Total funds carried forward||||||||||3,591,917||3,669,022|
||Represented|by:||||||||||||
||Unrestricted
income funds||||||||||3,591,917||3,669,022|
||||||||||||3|591 917|3669022|
|||||||||||||2021f|2020
f|
||UKincome|||||||||||775,918|654,780|
||Australasia
income|||||||||||208,880|180,244|
|||||||||||||984798|835024|
||Net movement||in funds analysed|||||by location:||||||
||UK||||||||||(118,707)||(181,906)|
||Australia|||||||||||33,305|27,145|
||New Zealand|||||||||||8,297|4,077|
|||||||||||||(77,105)|~(750,684|
||No management||charge|is||paid|by|the Australia||or New Zealand|branches|to the UK|charity.|
|4|Income from|donations,|||legacies|||and grants||||||
|||||||||||||2021f|2020|
||UK Government||grants|||||||||74,375|85,216|
||Australian
Government|||grants||||||||35,677|56,683|
||Gifts and grants||from trust|||||||||57,500|8,709|
|||||||||||||167552|150608|
||No restrictions|were placed||||on the||charity's|use|ofthese funds.||||
|5|Income from|other trading||||activities||||||||
|||||||||||||2021|2020|
|||||||||||||F|f|
||Other trading|income of||the||charity||||||121,026|125,628|
||Trading
income||of wholly owned||||subsidiary||(Note 25)|||13,641|10,053|
|||||||||||||134667|135.681|
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|Analysis of|movement|between|funds|||||
|---|---|---|---|---|---|---|---|
|||||At 1/1/21|Total
income|Total
expenditure|At 31/12/21|
|||||f|E|f|E|
|Unrestricted
Unrestricted|funds Group
funds Charity|||3,698,442
3669022|998,439
993091|(1,078,614)
~1070196|3,618,267
3591917|
|Analysis
of|movement|between|funds —previous year|||||
|||||At 1/1/20|Total
income|expenditure|At 31/12/20|
|Unrestricted
Unrestricted|funds Group
funds Charity|||E
3,851,628
3819706|E
845,078
845 825|E
~998,264
~998509|E
3,698,442
3,669,022|
##
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|||||||||Group|||Charity||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||2021||2020|2021||2020|
||||||||E|||||E|
||Net movements
in funds||||||(80,175)||(153,186)|(77,105)||(150,684)|
||Deduct interest income shown|in|investing||activities||||(469)|||(469)|
||Add back interest expenditure|shown||in investing||activities|||||||
||Add back depreciation
charges||||||131,225||154,146|131,225||154,146|
||Add loss on disposals offixed|assets|||||||2,000|||2,000|
||Decrease/(Increase)
in stocks|||||||327|||||
||(Increase)/ decrease
in debtors||||||110,728||(33,988)|110,722||(33,982)|
||(Decrease)/ increase
in creditors||||||(11,442)||(35,752)|(15,005)||(39,396)|
||Deduct tax paid||||||||(5,023)||||
||Net cash provided
by operating||activities||||150662||67 249|149836||68385|
|23|Analysis
ofchanges
in net debt||||||||||||
||||||||At 1 Jan 2021||Cashflows|Other non
cash changes||At 31 Dec
2021|
|||||||||E|E||E|E|
||Cash and cash equivalents||||||||||||
||Cash||||||251,081||274,973|||526,054|
||||||||251,081||274,973|||526,054|
||Borrowings||||||||||||
||Loan due within one year||||||||25,000|||25,000|
||Loan due after one year||||||||100,000|||100,000|
||||||||||125,000|||125,000|
||Total||||||251|061|399973|||651 054|
||Reconciliation
ofnet cash flow||to|movement||in net debt|||||||
|||||||||||||2021|
|||||||||||||E|
||Increase
in cash in period|||||||||||274,973|
||Additional
borrowings|||||||||||125,000|
||Change
in net debt|||||||||||399,973|
||Net debt at 1 January 2021|||||||||||251,081|
||Net debt at 31 December 2021|||||||||||651 054|
|24|Related party transactions||||||||||||
##
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|The summary
financial
performance|ofthe|trading|subsidiary|alone is:|||
|---|---|---|---|---|---|---|
||||||2021f|2020f|
|Turnover
Cost ofsales
Gross profit
Administrative
expenses
Profit on ordinary
activities before taxation|||||13,641
~5,549
8,092
~2869
5,223|10,053
~459
9,594
~f,305
8,293|
|Tax on profit on ordinary
activities|||||||
|Profit for the financial year
Retained
brought
forward
from prior
Amount
gift aided to the charity
Retained
in subsidiary|year||||5,223
29,414
~8,293
26 344|8,293
31,922
~30,501
29 414|
|The assets and liabilities ofthe subsidiary
Current assets
Current
liabilities||were:|||26,495
~58|29,514|
|Total net assets|||||26444|29 514|
|Aggregate
share capital and reserves|||||26 444|29 514|