2022-12-31-accounts - British Ballet Organization Limited

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

					Page
Report ofthe	Trustees				2-14
Reference and administrative details					15
Independent	Auditor's Report to the		Members	of Bntish Ballet
Organization	Limited
Consolidated	Statement	of Financial	Acthnties		20
Consolidated	and Charity	Balance Sheet			21
Consolidated	Statement	ofCash Flows			22
Notes to the	Financial Statements				23-37

The membership ofthe Quality Assu	The membership ofthe Quality Assu	rance Comm	ittee for 2022 is	as follows:
Executive Chairman (Chair)			Nic Espinosa
Chief Executive Officer			Robin Bloor	(resigned	31 January	2022)
Chief Executive Officers			Fiona Knower	(appointed	1 February	2022)
			Julie Bowers	(appointed	1 February	2022)
Examinations 8 Syllabi	Development	Manager	Vicki Smith
Quality Assurance Advisor			Libby Costello
Teaching Qualifications	Manager		Shelly Saint Smith

The membership ofthe Qualifications	The membership ofthe Qualifications	and Awards	Approval Board	for 2022 i	s as follows:
Executive Chairman (Chair)			Nic Espinosa
Chief Executive Officer			Robin Bloor	(resigned	31 January 2022)
Chief Executive Officers			Fiona Knower	(appointed	1 February 2022)
			Julie Bowers	(appointed	1 February 2022)
Examinations 8 Syllabi	Development	Manager	Vicki Smith
Quality Assurance Adviser			Libby Costello
Teaching Qualifications	Manager		Shelly Saint Smith
Special Advisers where	appropriate

					2022	2021
					Total	Total
				Note	F	E
Income from:
Donations, legacies	and grants				9,852	167,552
Charitable activities:
Membership					76,738	73,811
Examinations					363,542	295,016
Educational programmes		and events			280,562	327.392
Other trading activities				5	194,472	134.667
Investment income				6	11	1
Total income					925,177	998,439
Expenditure on:
Charitable Activities.
Membership					(64,574)	(67,743)
Examinations					(506,640)	(569,914)
Educational programmes		and events			(597,170)	(432.539)
				7	1,168,384	1.070,196
Other trading activities					(4,857)	(8,418)
Total Expenditure				7	(1,173,241)	(1.078,614)
Net expenditure and	net movement		in funds	8	(248,064)	(80,175)
Tax on activities				10
Net movement in funds					(248,064)	(80,175)
Reconciliation offunds:
Total funds brought	forward			18	3,618,267	3,698,442
Total funds carried	forward			18	3 37D 2D3	3.678.267

				Group	Group	Charity
				2022	2021	2022	2021
			Note	6		f
Fixed assets:
Tangible assets			11	3,182,018	3,304,337	3,182,018	3,304,337
Intangible assets
Investments			12			100	100
Total fixed assets				3,182,018	3,304,337	3,182,118	3,304.437
Current assets:
Stock			13	4,405	3,444
Debtors			14	91,141	204,610	91,041	204,510
Cash at bank and	in hand			433,375	526,054	430,548	523,523
Total current assets				528,921	734,108	521,589	728,033
Liabilities:
Creditors: amounts		falling due within one year	15	(263,653)	(320,178)	(285,415)	(340,553)
Net current assets				265,268	413,930	236,174	387,480
Total assets less	current liabilities			3,447,286	3,718,267	3,418,292	3,691,917
Creditors amounts		falling due after one year	16	(77,083)	(100,000)	(77,083)	(100,000)
Total net assets				3,370,203	3,618,267	3,341,209	3,591,917
The funds ofthe charity
Unrestricted income		funds	18	3,370,203	3,618,267	3,341,209	3,591,917
Total charity funds				3,370,203	3.618,267	3,341,209	3,591,917

					Group
					2022	2021
				Note	f	f
Cash used	(from) I in	operating
activities
Cash flows	from investing		activities
Interest income					11	1
Purchase of	tangible fixed assets				(10,529)	(690)
Cash used	in investing	activities			(10,518)	(689)
Cash flows	from financial		activities
Additional borrowing						225,000
Loan repayments					(22,917)
Interest paid					(4,180)
Cash used	in financial	activities			(27,097)	125,000
Decrease in in the year	cash and cash		equivalent		(92,679)	274,973
Cash and cash equivalents beginning ofthe year			at the		526,054	251,061
Cash and cash equivalents of the year			at the end		433,375	526,054

The summary	The summary	financial	financial	financial	performance	performance	of the charity alone is:
								2022	2021
								f	f
Income								912,453	984,798
Gift aid from		subsidiary			company			5,223	8,293
								917,676	993,091
Expenditure		on	charitable			activities		(1,168,384)	(1,070,196)
Net expenditure								(250,708)	(77.105)
Total funds	brought			forward				3,591,917	3,669.022
Total funds	carried			forward				3,341,209	3,591.917
Represented		by
Unrestncted		income funds						3,341,209	3,591,917
								3,341,209	3,591.917
								2022	2021
								f	f
UKincome								762,308	775,918
Australasia	income							155,368	208,880
								917,676	984,798
Net movement			in funds		analysed		by location:
UK								(195,484)	(118,707)
Australia								(39,959)	33,305
New Zealand								(15,269)	8,297
								(250,712)	(77.105)

Income f	rom d	onation	s, legacies and grants
				2022 f	2021f
UK Government		grants			74,375
Australian	Government		grants		35.677
Gifts and	grants	from trust		9,852	57,500
				9,852	167,552

Income	from	other trading	other trading	activities	activities
							2022	2021
							E
Other trading		income of	the	charity			181,748	121,026
Trading	income of wholly		owned		subsidiary	(Note 25)	12,724	13,641
							194,472	134,667

					U	Ll	O al N cd I	0 N at l	I N N 0 N	(D G! G! G! at N	CD	ID 0! Gl				(D G 0						0 Ct
																						Cl
					al 0 IX CC0 CC	tU	N 0 t d	«I N d	ID ! I I (1	O Cd Cd	CD CD ID									(D Ot	dl (U 0 N	Gl00 d Cl ID
				N 0 C! 0 'tl (C	Cl 0 0 Cl. O. (D I 0	UI						Gl (D			Ot Gt D					L O L ct O 0 IU 0	5 U0 IU0 C c (C 0 0	I00 0a.a. 0
				ClOc L Cl 00 h Cl 0 (C Ct	m 'Oc (I id a (U Qt o E U! m Ol0 D. c Ct 0! Ql0 a!0 E 00 Cl NO IU U a! 0 00 td0		o CO Ut GiO N	0 N 0 I	0 I N 0			N CD CD ID D N (U (U		G0 Cd Cl Cl G	cl ml C4	CDal CDa!				0 Cl O a Cl0 a(! 0 Qltc 1D L Cl	0 0 th Ct 0 0 0 Q. Id (D id Cl00 0 0 c Cl	dt UV0 at Cl! a000 Ct0 N0 Cl. 00 N G (U		dt Ql al CI0 (0 (0 CU0 N 0 O00 td 0 E
				hl U C 0 Ql0	00 0 0 td 0! E 04! X UJ		Q 0 0	I 0 (D	Q N							Cl O (O Ct				N 0 0 4!00 3 Oa		dl 0a! 'O Cl U Cl		td 0 U N Ql0 N 0
0 dl ltd.'(4 al0 N 0 al dl cf E dt oae c n C0 0f 0 0e '0 ch 00 0th 00 0 a! al al 4 Ot '0 0 000			Ih ID 0 al Ct0 al a Ct ll0 4l Cl. X Cl 0 id Ih dl		a ZN Cl ID E	w	0 ~I CI I m	h0 O a! 0	Gl (D c 0 o o 0 0	0 0 U 'c0 a a tn	I0 'J e 0 C E e 0 0		000 alV0 C	I N0 0 CO. (0	D ct a0V Q L U0 Ct 00	(X IX ~I O(4 Cl al0 O 0 c ia eQ. 0 X I- 0	h'0 Ol0 N a 0 Cl 00 IU	d N0 O a0a 0 (C OL 1D C 0	N 0 Cl L dla X dl 00	N 00 00 dl i- 0 U '2 UD 0 0 G0 a! 0 0 (U I—	4l 0\0 I 00 0a0. Ot 0 G a! E dl IU 0 0 Cl 0 Cc 0 0	Cl 0 0 Ct 1D '0 Cl 0 itl 0 0 0 id N0 00 0a 0 0 ~!	0 N0 m a Ql G (U dl 0 ia I0 0 IU Cl dl 0 al	N0it0 Cl al dl N0 0a.a. N N Ql 0 I Ol0 'Cl (U Ql 0
th	Cl
Ol	0 0	0 U.

				IU 0 CU Ql CU	u! I Cd I	0 Cd Vl	I CU CQ CQ	««I 0 I 0\ 0 Cd	Ut CD Ol Gl				CD CD 0 0		CD	ID CD 0	0 Ql Q D Id al		td 4 Id
N dl 0 Cd CQ al N 0 Cd 41 0 JD DE E Cl c0 ul 4' E IU cern e'0 0cnc dl 0 dl al	M0 O Id III Cd c O000 10 0 a x 0 0 N id 0	N0 CU dl E dlO 1D dl 'O L dl m Ql dl Ut dl td td a E O O td 0 O.	Ul N00 Z0O. O. N Id dl0 al 0 00 N dl 0 td td tD td 0 0 dt CI	m Qt 0c m N tlf 0 O E IIJ al Ol0 Q. N ID IU m 0 Ut IA E c tu al X IIJ O. Ut Ct0E N M00 0 CA N Ul00 tD0 al Qt 00 Ut N0 Jd td II! 0 td0	N 0 Gl ctt N Ip N ID CD 0 CU Vt CO I «I I N N A «I Vl Ul Q IJ IA	0 0 0 ID 0 Ul ul CU A A N O Itl M Q U at c 0	I CQ IO CQ ID A I Dt A Gl 0 0 CD N N 0 U 0 0	Ul N0 U 0 Ul al 0 0 U C tUL ah o 0 IA 0	CQ Ctl N «! Ut 0 IQ I	0 0 ldC!0	«I V\ CU N N N CD 0 N Gl N ul N IO N Vl0 U 0O. O. CG CD 0 0 IA	ID 0 N CO ID Gl ID N CD 0 N N M00 dt0 Q td dt 00 ID 0 u!	CD Gl Ql0 CU0 0 N 4l td E ldco id O. 0 x I- dl	N c 0 N td 00 dl Cl0 x UJ	N N00 a0 N N m Olc1) al c Cl 0	Ni) N0 '60 dlO. X dl Cd 0	IJ 0 C 0c 0c 0c Ut tU0 Ql Q0 0 Ul ol 3 tD al 0 10 Cc0 ale O. m0 3 U N Vl Q N 0 Cl0 dl N0c m N Cl 0 td CD '0 ID L0c E Mc Ql L0 dlOl 0 0 L Vl N0 o. 0 a 0 Ul aa N 0 Ol U E Vt0 m 0 dl Ul " ec Vl L V0 » 00 Id C al L 0 0) 0 0 Ot N M L tu Ol Ql I-:0	c Cl C m 1: 0 c e o m	I Ul0 U 0 CL CL Ul0 1) dl td00 at dl al V Ul00 Ul Ct0 N Ul0 CL 0 N N Ct Ut dl 0 td '1) ID Cd ID Q 0 0 0 Ql al Vl Vt00 dlD Ul M0 a	N td N dl L' dl dl tdc al Vl I0 O 0 -" dl 0 ld 0 dl IdO0 m	CL CL CA dl0 al00 CQ CQ Ul dl al Ul 0 Vl 4000 dl dl M Ul00 0O. O. N Vl dl 0 al Ol 1) al Cl
td m It 0	I
coc Ut N
'O 0 0 IO 0 D.

This is stated after charging	2022	2021
	E	E
Operating lease rentals
Other equipment	5,036	3,865
Depreaation	132,848	131,225
Auditor's remuneration
Audit fees —IJK	11,588	13,255
Accounting and taxation services	2,307	2,131
Interest expense	4,810
Foreign exchange (Gams)i losses	(1,189)	1,284

Analysis ofstaff costs, trustee remuneration	Analysis ofstaff costs, trustee remuneration	personnel
Staff costs were as follows;		2022	2021
		E	6
Salanes and wages		477,909	466,069
Soaal secunty costs		2'I,925	29,942
Pension costs		17,093	16,030
Redundancy and termination	costs		11,654
		516,927	523,695

		Leasehold	Plant &	Office	Fixtures &
11	Tangible fixed assets	Property	Machinery	Equipment & Furniture	Fittings	Total
	Group and Charity			E	E	f
	Cost
	At I January 2022	2,796,377	505 327	237,248	806,848	4,345,800
	Additions			10.529		10,529
	At 31 December 2022	2,796,377	505.327	247,777	806,848	4,356,329
	Depreciation
	At 1 January 2022		(310,956)	(237,031)	(493,476)	(1,041,463)
	Charge for the year		(50,533)	(1,587)	(80,728)	(132,848)
	At 31 December 2022		(361,489)	(238,618)	(574,204)	(1,174,311)
	Net book value
	At 31 December 2022	2,796,377	143,838	9,159	232,644	3,182,018
	At 31December 2021	2,795,377	194,371	217	313,372	3,304,337

13	Stock				Group		Charity
					2022	2021	2022	2021
					E	f	E	f
	Merchandise,	clothing	and teaching	matenais	4,405	3.444
14	Debtors
					Group		Charity
					2022	2021	2022	2021
					f	f	f
	Trade debtors				12,029	82,965	12,029	82 965
	Prepayments	and accrued income			12,687	10,114	12,687	10.114
	Other debtors				66,425	111,531	66,325	111.431
					91,141	204.610	91,041	204.510

Creditors	: amounts fa	lling due within one yea	r
					Group			Charity
					2022	2021		2022	2021
				f	f		f	f
Trade creditors					29,541	30 707		29,540	30,655
Bank loan					25,000	25,000		25,000	25,000
Taxation and social security					15,432	37,139		15,432	37,139
Amounts	due to related	subsidiary						21,764	20,421
Other creditors					86,555	37,855		86,554	37,551
Accruals					30,327	39,559		30,327	39,559
Deferred	income		17		76,798	149,918		76,798	149,918
					263,653	320,178		285,415	340,553

	Bank loan	Bank loan			77,083	100,000	77,083	100,000
					77,083	100,000	77,083	100,000
17	Deferred	income					2022	2021
							f
	Balance	as at 1 January					149,918	194,520
	Amount	released	to income	in the year			(149,9181	(305,473)
	Amount	deferred	in the year				76,798	250,871
	Balance	as at 31	December				76,798	149,918

										At 1/1/22	Total income f	expenditure f	expenditure f	At 31/12/22 f
Unrestricted		funds Group								3.618,267	925.177	(1,173.241)		3,370,203
Unrestricted		funds Chanty								3.591,917	917.676	(1,168,384)		3,341,209
Analysis	ofmovement between				funds	-	previous	year
										At 1/1/21 f	income f	expenditure f		At 31/12/2021 f
Unrestncted		funds	Group							3,698,442	998,439	(1,070,614)		3,618,267
Unrestncted		funds	Chanty							3,669,022	993,091	(1,070,196)		3,591,9/7
Operating		lease	commitments
Lessee
At the reporting			end date	the chanty		had	outstanding		commitments	for future mmimum	lease	payments	under	non-cancegable
operating	leases,		which fall	due as	follows
										Group		Charity
										2022	2021		2022	2021
										f	f		f
Within one		year								5,036	3,835		5,036	3,835
Between	one and		five years							12,165	1,944		12,165	1,944
										17,201	5,779		17,201	5,779

											Group	Group
											2022	2021f
	Net movements in funds										(248,064)	(60,I75)
	Deduct interest mcome shown			m	investmg		activities				(11)	(1)
	Add back	interest expenditure		shown		in investing		activities			4,180
	Add back	depredation	charges								132,848	131,225
	(Increase)	in stocks									(961)	327
	(Increase)l decrease		in debtors								113,469	110,728
	(Decrease)) increase		in creditors								(56,525)	(11,442)
	Net cash	provided by operating			activities						(55,064	150,662
									At 1 Jan 2022	Cashf lowe	Other non cash changes	At 31 Dec 2022
22	Analysis	of changes	in net debt
	Cash and	cash eguivalents
	Cash								526,054	(92,679)		433,375
									526,054	(92,679)		433,375
	Borrowings
	Loan due within one year								(25.000)	22.917	(22.917)	(25,000)
	Loan due	after one year							(I00.000)		22,917	(77,083)
									(125.000)	22.917		(102,083)
	Total net	debt							401 054	(69,762)		331,292
												2022
												6
	Decrease	in cash in	period									(92,679)
	Repayment	of borrowings										22.917
	Change in	net debt										(69.762)
	Net debt at 1 January		2022									401,054
	Net debt at 31 December 2022											331,292

The summary fin	anaal p	e	rformance ofthe	subsidiary alone is
					2022	2021
					f
Turnover					12,724	13641
Cost ofsales					(2,994)	(5,549)
Gross profit					9,730	8,092
Administrative expenses					(1,857)	(2,869)
Profit on ordinary	activities		before taxation		7,673	5,223
Tax on profit on ordinary		activities
Profit for the finanaal year					7,973	5,223
Retained brought	forward		from prior year		26,344	29,414
Amount gift aided to the		chanty			(5,223)	(8,293)
Retained in subsidiary					28,994	26,344
The assets and liabilities		of the subsidiary		were
Current assets					29,095	26,495
Current liabihties					i1)	(51)
Total net assets					29,094	28,444
Aggregate share	capital	and reserves			29,094	26,444