## ## ||||||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| ## |5|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
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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| |9|Analysis
ofstaff costs, trustee remuneration|Analysis
ofstaff costs, trustee remuneration|and expenses,|and the cost of key management|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|