2023-12-31-accounts

BRITISH BALLET ORGANIZATION LIMITED Limited by Guarantee Trustees Report and Financial Statements for the year ended 31 December 2023 Registered Charity Number 277177 Registered Company Number 01402656 4)b )dance bluespire

Contents Report from the Chair of the Board Report from the Chief Executive Officer Officials, Trustees and Management Report ofthe Trustees Corporate Governance Management and committees Principal risks and uncertainties Financial Review 13 15 16 statement of Tnjstees, Responsibilities Independent Auditor's Report Consolidated Statement of Financial Activities 19 21 24 Group and Charity Balance Sheet Group and Charity Statement of Cashflows Accounting Policies Notes lo the Financial Statements 25 26 27 30

Report from the Chair of the Board We are pleased to present the Annual Report and Financial Statements for the British Ballet Organization Limited for Ihe year lo December 31 $t 2023. The year has been a significant one in stabilising the organisation post-pandemic and taking into account on-going challenges in the Unrted Kingdom, Europe and beyond. Membership retention and growth have both been stable- slowly but surely increasing the overall number of members connected to the organisalion. With this, there has been the opportunity to offer training, CPD and events on a level nearly comparable with pre-pandemic times. The on-going presence of online offerings for teaching members and the wider dance community has continued to attract new members from overseas and in places that had not been so accessible previousty including, China. Canada and the United Arab Emirales. The organisation worked hard to increase accessibility via digitsl plafforms with the introduction of a new website and new examinations software which has rolled out in the UK and will soon be available to members worldwide. These platforms offer a smooth and succinct process to members and customers no matter where they are based, allowing a consistent level of seNice to all. The established review cycle of the various syllabi offered by the organisation ensures that all members have the most up lo date revisions of all work, accessible at the click of a button vi8 the members, area of our website. We were excited to welcome both Brenda Last OBE as President and Cyntia Harvey as Vice President in late 2023. Both individuals have an incredible standing in the wodd of Classical Ballet and we are thrilled to have their Patronage. The Board ofTrustees was slrengthened in 2023 with the appointment of Janet Lambert and Annie stayt, both of whom bring a wealth of knowledge to the role. Sarah Banham stepped down as Trustee and I would like to offer our most sincere thank5 to her for her support over the pre￿dIng years, particularly in helping us to forge relationships within the borough of Wandsworth. Our Australian branch hosted one of the most successful Dance Days events in recent memory, this time in Melbourne, rather than its usual home in Sydney. New Zealand followed suit with members keen to attend and support this annual opportunity to come together for a week of activities in Christchurch. It is so lovely lo hear the anecdotes of a membership working so hard together as the global economic ¢limate gives everyone such a challenge,. from the teachers to the parenls of students, all of whom want lo enjoy the art form as far as possible. We never underestimate this unwavering commitment from all involved. The key strategy for the organisation remains stabilisation and ensuring our foundations are strong in our core activilies. We continuÈ to keep our mission al the forefront of all that we do., to inspire excellence and promote the education, Iraining and enjoyment of dan￿ to all. Nic Espinosa Chairman

Report from the Chief Executive Officer Looking back at the year ending December 2023, 1 am really proud of the way in which the organisation has slabilised, with significant growth in all of our regular activities against the previous year. This recovery is something which has given the team and I great confidence Ihat we can maximise opportunities in future. Whilst the year was a challenging one, it is worth noting that membership numbers are slowly increasing and examination numbers are slowly but surely recovering from the impact of restrictions in 2020-22. There were only 11 fewer examining days in the UK in 2023, compared with 2019, representing 97 /0 recovery. These factors are the key indicators as lo Ihe organisation's future and I will be working incredibly hard over the next year to ensure that we mitigate against rising costs in many areas of the organisation to ensure we can continue to deliver these key services. The huge rise in costs as a result of high inflation contributed to the overall losses made this year. The organisalion's headquarters at Battersea Reach incurred some of the most significant rises in cost which depleted the surplus of income from hirers and rentals. Operating costs generally were hil in 2023 by suppliers who inevitably had to pass on the increase lo their own costs as a result of inflation and the now infamous cost of living crisis. With both of these things seemingly less extreme at the time of writing this report, we are confident that our very prudent budgeting will see its effects lessened in the current year. In September, water damage from residential flats affected headqLJarters and had a significant effect on operations and facilities. The irnpact of the floods lo studio and office availability undoubtedly affected income to some extent. 11 is looking tentatively hopeful that the landlord will have rectified the damage by the middle of 2024. Numbers at our 'in person, events for bolh students and teachers continued to flourish and grow against the previous year, atthough they have yet lo return to 'pre-pandemic' levels. Dance Days, which is the organisation's flagship event was well attended in the UK and in our Australasian regions which was hugely encouraging. Our inveslment in both examination software and a new websrte has revitalised the offering to new teachers who we continue to altracl thanks to our appealing membership package and the personable qualities of our small team, as well as the syllabi which provide such a solid foundation for all of our teaching members and their students. l am humbled to have welcomed both Brenda Lasl OBE and Cynthia Harvey onlo our team as Presidenl and Vice President respectively. I very much look forward to working with them both in the months and years to come and to take on board the wisdom both can bring to our artislic developmenls a5 we joumey towards our centenary year in 2030. I must acknowledge the great work of Julie Bowers, who stepped down as Joint Chief Executive Officer this year. Her impact on the organi$2tion Can be seen in the growth in membership over recent years and the provision of events that are now a¢￿SSIble lo all. Of course, none of what has been achieved in 2023 and 2024 could have been accomplished without the dedication of our staff to whom l am incredibly grateful. Fiona Knower Chief Ex￿￿tiVe Officer

Officials, Trustees and Management Edouard Espinosa Eve Kelland FouF]clef Prebl,'laiit Dame Ninette de Valois OM CH DBE President Brenda Last OBE (from 20 De￿mber 2023} Vice Presidents Sir David Bintley CBE Cynthia Hatvey (from 31 De￿rnber 2023} Patrons Agnes Oaks CBE Bonnie Langford Brandon Lawrence Craig Revel-Horwood Doreen Wells Marchioness of Londonderry Gillian Revie Joseph Powell Main Mark Baldwin OBE Martin James Robert Parker Tandy Muir-warden Thomas Edur CBE Wayne Sleep OBE Wendy Ellis Soames (from 28 February 20231 Trustees Nicholas Espinosa Julian Jones Sarah Banham Anne Walker MBE Richard Thom Janet Lambert Anne Stayt (Chairman) (Resigned 28 September 20231 (Appointed 20 January 2023} (Appointed 27 April 20231 Senior Management Chief Executive Officers Fiona Knower Julie Bowers Suresh Perera Juslyna Nascimento Shelly Sainl Smith Libby C05tello Elizabeth Derby (Resigned 30 January 20241 (Appointed 17 July 20231 (Resigned 22 August 2023) Head of Finan Head of Teaching Qualificalions Regulatory and Quality Assuran￿ Advisor Senior Branch Adminislrator (Australasia)

Report of the Trustees The Board of Trustees, who are also directors under company law, are pleased to present the annual report and the consolidated financial statements of the charity, its branches and its subsidiary for the year ending 31 December 2023. The annual report and financial statements comply with Charities Act 2011, the Companies Act 2006, the Articles of Association and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with Financial Reportin9 Standard applicable in the UK and Ireland IFRS 1021 {effective 1 January 20191. Although the subsidiary is exempt from audit by virtue of Section 477 of Companies Acl 2006, the financial statements are also prepared lo meet the requirements for a directors, report and accounts for Companies Act purposes. Structure The British Ballet Organization was founded in 1930, regislered as a Charity in England and Wales on 26 February 1978 No 277177 and established as a private company limited by guarantee without share capital on 29 November 1978 No 1402658. Revised Articles of Memorandum and Objects were adopted on 31 August 2005, and subsequently replaced with revised Articles of Association on 6 July 2012, bringing the Articles of Association into compliance wilh the Companies Act 2006. Each member has undertaken to contribute to the assets of the charity in the event of being wound up while shelhe is a member, or within one year of ceasing to be a member, for payment of debls and liabilities of the charity contracted before ceasing to be a member, and of the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributors amongst themsefves, such amount as may be required not exTreding £1 each. The Charity consists ofthe UK charity and Ihe two branches overseas and the Group includesthe Charity and a subsidiary company. The Charity trades as bbodance. In Australia bbodance is registered as a nol-for-profit branch of a foreign entity wtlh ARBN No 076365403 on 13 November 1996 and as 8n Unincorporated Entity with the Australian Business Register IABR) on 18 November 1999 with ABN No 78 207 575 900. In New Zealand bbodance is registered as a not-for-profit branch of a foreign enlily and a local Charty in NZ on 14 August 2000 No CC36353 and has an IRD No 68 994 306. BBO Dance Supplies Ltd was established in England as a private company with shares on 14 January 2000 No 03907230. and is 100 /0 owned by British Ballet Organizalion Ltd. Its primary purpose is to provide an additional legal identity lo market sales of dancewear, syllabi, merchandise and other learning material. The company covenants its profits to the Charity. bbOdan￿ is an awarding organisation offering qualrfications recognised in England and Wales and is required through the Board of Ttuslees to issue an annual Statement of Compliance to the Office of Qualifications and Examinations Regulation (Ofquall, and Qualification Wales. The Truslees agreed lo open discussions in April 2024 with the Scottish Regulator The Scottish Qualif1¢2tions Authority ISQA) and this dialogue is on-going. bbOd8n￿ is validated by the Council for Dan￿, Drama and Musical Theatre ICDMTI as an awarding organigation. The organisation continues to be supported by an external adviser who acts as Responsible Officer IRO}. Reports are presented in advance of all Trustee meetings. Statements of Compliance IEngland and Wales jointly) have been submitted in a timely fashion. bbodance branches follow regulated qualifications criteria in the award of recognised qualifications to students in those countries where they operate and manage.

bbodance is required to report any Safeguarding (including Prevent) incidents to the Charity Commission, as well as Ofqual, and Qualifications Wales where there is an event which could have an adverse effect, leading to a loss of standards, integrity, or public confidence in qualifications. bbodance follows the Charity Grievance code. Principal Activities The activities driven by the organisation promote the educalion, training and enjoyment of dance, and are offered to a broad range of people, with mixed abilities throughout the United Kingdom and internationally. These setvices can be accessed Ihrough www.bbodance.com. bbodance provides dance training, dance teacher education and dance assessment Se￿iceS lo students and teachers. These are provided in its role as.. A teaching qu81rfi¢ation organisation recognised by Ofqual and Qualification Wales to deliver regulated teaching qualifications lo aspiring dan￿ teachers A dance awarding organisation validated by CDMT, Ofqual and QualrFication Wales to deliver regulated examination qualifications in Classical Ballet, Musical Theatre, Contemporary, Tap, Jazz, Acrodance and Modem Dance A membership organisation offering registered dance teachers the opportunity to undertake continuing professional education, sludenls of dance to enjoy dan￿ in all its forms, and a support body lo those needing help and assistance Mission To inspire excellen￿ and promote the education, training, and enjoyment of dance, Objective and Public Benefit The charity's objects are specrfi¢ally restricted to advance Ihe education of the public in the art of ballet and associ8ted danTr form. The Trustees consider that the organisation's activities meet its charitable objectives. The fees for student aclivities are set to be as affordable as possible and we are particularly proud of our thriving Teacher training programme and our Scholars scheme for its accessibility in the market. As a charity registered in England and Wales, the charttable company also acts in accordan￿ with the Charity Comrni55ion for England and Wales, guidance on public benefrt including the guidance 'Public Benefit.. running a Charity IPB21' and the CharitES Act 2011.

Strategic objectives and achievements Our principal objective remains lo grow our membership, from which growth in our core activityas benefit. Additionally, we aim to be at the forefront of the dan￿ sector, whilst achieving our charitable and financial goals. We aim to enhance the quality of dance provision and bring dance to the wider community whilst increasing and diversifying our sources of income. The Trustees, throughout their planning and review processes, are aware of their responsibilities to ensure that there is a clear public benefit derived from the activities of the organisation. Like all organisations within our sector, the last year has been afferted by a cost-of-living crisis in the UK, high rates of inflation globally and a war in Europe for the first lime in a generation. For the reporting year our key strategic aims have continued to be.. Revitalising and enhancing our core products We wish to offer the complete range of opportunities that would nomially be expected from an organisation such as ours. We wish to continue the work already started in modernising, reviewng, and extending the range of our offerings. We will continue the development of our syllabi and Teaching Qualifications, look to introduce more dance orientated events for adults, continue offering a vibrant and innovative CPD program, whilst also extending the range of courses provided. Achievement: Syllabus development has remained a priority this year as we maintain a 5-year review cycle on all existing work as well as developing key new works lo extend the offering on our newest syllabi., AcroDancer and Musical Theatre. In this year there has been the fin8li$2tion and launch of a number of syllabi including Intemediate Musical Theatre and Primary and Grade 1 A¢r0Dan￿r. A revitalised Adult Tap syllabus (grade 141 was also released. The Teaching Qualifications are going through a period of review with the Head of Teaching Qualifications and in conjunction with key personnel internally and extemally. Whilst no major changes were introduced in the reporting period, there have been some key decisions passed which will potentially affecl courses delivered in the next academic year (from September 20241 and beyond with a view to further cementing our place in the market and remaining compelilive. CPD has continued to be thoughtfully developed and delivered in response lo membef requests and with an eye on providing a holistic experien￿ for dance teachers in addition to offering mandatory or syllabus focussed work. Given everits over the last few years, il has never been more important lo provide training and menloring on issues such as diversity, mental health and financial rnanagemenl 2nd we are fully committed to supporting teachers in any way that we are able. A new and exploratory membership for adults was also launched in September 2023, called Next Stage. This offers adults who are not teachers a chance to lake part in suitable online classes, webinars and live events and we hope will forge new relationships with the organisation. Focus on financial goals Following disappointing results in the pre￿dIng year, it remained imperative to focus On￿ again on the financial goals of the organisation. As ever there were some difficult and unexpected increases in expenditure in relation to both the UK and the branches bul positives can be taken from tre following achievemenls. Achievement: Examination income across the group made a significant growth against last year, continuing its recovery post-pandemic1£442,047 for 2023 vs £363,542 for 2022} Improved contribution from the Teaching Qualifications courses due to improved margins

An almost 66 % increase in income in the UK for Dance Days 2023 vs Dance Days 2022. An inorease of 12'/D in total income for the group in 2023 vs 2022. Serrfice and scale Continuing on from tre developmenl of online provision. which was implemented out of necessty during the pandemic, there has been investment in online plattoms which benefit our membership and the wider audience,. namely ExamTrack (software which manages the exams life¢ycle both internally and for examiners and teaching members) and a new website which serves the wider public and our teaching members. We believe that by investing in systems that redu￿ the admin burden for both staff and members, we are abk to offer Ihe highest levels of customer service in other areas of the organisalion. Achievement: The ability to manage exams globally will come into play in the next reporting year and one system will look after all of the information required to manage the exams lifecycle for UK operations and the branches. This alleviates the manual reportir)g required be￿een branches and headquarters. with updates to all exam policies and procedures being applied cenlffjlly to the system. For our valued teaching members in the UK, it became very quickly apparent after launch that the system enhan￿S their user experience. The time saved in carrying out admin for an exam session for both the teacher and then the examiner is significant and Ihis was our top priority when we set out to develop the platforrll for bbodance.. The new website is user friendly and gives the opportunity for us to sel up recurring payments for memberships in future., something that many member5 have requested. We continue to take calls and receive feedback that our friendly and personable seNice sets us apart from the other dance awarding organisations and this quite often comes from teachers who wish to move to us from another society- This appears to be leslament that our strategy is working. Develop an international and regional programme We continue to develop a UK regional programme and a robust intemational model to strengthen our branches in 'Australasia" and to create a strong base for fulure growth both inside and outside of the UK. Achievement: Engagement in regional meetings and events was once again strong in the UK. Regional Representatives have been wonderfully proactive in working with colleagues at headquarters to understand what CPD is requested to accornpany their events and to help schedule training for mandatory courses such as first aid for their group of members. Online conference calls now make it very easy to connect with our members overseas and this has been a key area of focus. Where there are clusters of teachers based outside of the UK and branches, we are now planning how to offer live events lo encourage engagement in person as well. Australia and New Zealand hosted SUC￿ssful Dance Days events in each country respectively. The engagement of students and teachers alike was encouraging against a difficum backdrop of rising costs and a small associated drop in examination numbers. This engagement instils the confidence needed to plan more events and know they have potential lo be Suc￿sSfUl.

Partnerships, collaborations, and external expertise We continue to look lo build on current and past connections. We intend to increase the depth and diversity of our Governing Body (Trustees) and Senior Management Committee as necessary. We will actively seek external Individualslorganisalions lo advise us, and we will work lo establish mutually beneficial partnerships and collaborations. Achievement: Work on understanding our role in promoting racial diversity has continued, with bbodance CEOS completing leadership training alongside CEOS of the other major Dance Awarding Organisations. bbodance also partnered with Shades and ISTD to promote skin tone tights and dance shoes and continues to work collaboratively on the issue of racial diversity within the dance sector. There continues to be an extremely positive working relationship with Tavaziva Dan￿ who renl space in the main bbodance office and the year saw a continuation of the work together on a Youth Dance Company and workshops with them. 11 is our intention to Continue forging relationships across the borough wbth arts organisations and we supported the Wandsworth Arts Fringe with this in mind. There are some wonderful contacts being made and plans afoot to explore what we can collectively offer in the currenl reporting year. The most obvious asset at our disposal is our beautiful suite of studios and spaces which were utilised at reduced rates by various local and charitable arts organisations. Our Patrons continue to offer a generous amount of time to the organisation and a wealth of expertise on artistic matters and various other areas, including diversity and inclusion. We are so grateful for the time they donate and level of communication they share with the team to produce webinars, training and communications which help to support and inspire the membership. Marketing After a diffi¢utt couple of years in which investment in marketing was reduced significantly, the reporting year saw signtfi¢ant changes to this with the engagement of an external company and the recruitmenl of a member of staff into the role of Marketing and 8usiness Development Coordinator. Achievement: Whilst the implementation of the new websile and CRM, alongside the new Exams system, ￿rtainlY brought rts challenges on an administTalive level, the new website was well received in November and the move to get all member5 to access the members, area is now all bul complete. Feedback on the aesthetics of the site was unanimously positive and drew together the new photography and images which had started to be captured with Ihe introduction of Ihe new uniform back in 2022. A new and cohesive branding plan is being implemented in the current year. Usability of the new websrte was similarly positive and the platfomi is now taking all membership renewals and event bookings as planned. 10

Corporate Governance President and Vice Presidents During the reporting year we were thrilled to appoint Brenda Last OBE as the organisation's new President, following the sad passing of Dame Beryl Grey. Cynthia Harvey further strengthened the ranks of our Patrons, agreeing to take on the role of Vice President alongside David Bintley. Board of Trustees The affairs and property of the charity are managed by a Board of Trustees which may exercise all such powers of the Trust as not required by its Articles of Association to be exercised in general meeting. Al the end of 2023 there were 6 appointed Trustees. Janet Lambert and Annie Slayt joined in January and April respectively and Sarah Banham resigned in September 2023. Mr Nicholas H Espinosa Julian Jones Sarah Banham Anne Walker MBE Richard Thom Janet Lambert Anne Stayt Ichaimian) (Resigned 28 September 2023) {Appointed 20 January 20231 {Appointed 27 April 2023) Meetings There were 5 Trustee meetings in the reporting year, with agreement that this would reduce lo 4 in the current year and one Pre-Audit meeting with a Trustee, the CEO and the Head of Finance. Recruitment The identification and recruitment of Trustees is no longer a priority, however Ihere is on-going discussion as to what areas of expertise would be good lo attract to the Board. The organisation's policy is lo source new Trustees by personal referral from contacts made through the operation of the organisation, such as tenants, our solicitors and the Chambèr of Commerce. New Trustees are interviewed, and if applicable introduced lo the other Trustees. If Ihey are considered suitable, they are co-opted to attend the next Trustee meeting and subsequently appointed al the following meeting. Induction and training New trustees are provided with an induction pack which consisls of Ihe Memorandum and Articles of Association, past Financial Statements and copies of previous meetings and Audrt reports. New and ongoing Trustees are offered relevant training, if required, from professional advisers and maintain their competence by reading material produced by the Charity Commission and other publications as appropriate.

Related parties Trustees must disclose any contractual relationship with a related party. The daughler of the Executive Chairman, Stephanie Espinosa-martin, is a Trustee of the Espinosa Memorial Fund (EMF) which provides grants to bbodance. A grant of £6,000 was made in 202312022 £7,000). Details of these grants are included in note 11 to the accounts. The bbod2nce CEO, Fiona Knower sits as Trustee on the Board of the Espinosa Memorial Fund (EMF). The EMF appreciates the more detailed contribution that the CEO can bring to their own discussions. No Trustees received remuneration or other benefit from their work with Ihe charity. The Executive Chairman works 1 day a week in the office or from home on an unremunerated basis. Independence At each meeting during the year the Trustees record their adherence to the organisation's Conftiet of Interest Policy. Indemnities and insurance bbOda￿￿ takes out indemnity insurance to indemnify it against loss arising from the neglect or defautt ol its trustees, employees or agents and to indemnify the trustees and other officers against the consequence or any neglect or default on their part. Jii

Management and committees The Chair is responsible for Ihe leadership and management of the Board. The Chief Executive Officer is responsib￿ for the leadership and day-to4ay management of the Group to ensure the delivery of the strategy agreed by the board. The CEO is supported by members of the board. During 2023 the day to day running of the organisation was delegated to Joint CEOS, one focusing on the Artistic and one on the Operational side. sin￿ February 2024 this has reduced lo a single CEO. The Board does not operate any sub-committees bul there are a number of committees which assist Management. ExecLiliiie nommiltee An Executive Committee comprising the Executive Chairman and the Joint CEOS met weekly in 2023. In the current reporting year this committee has disbanded and delegation of committees remains as per below. Senior Manggpmani euommittee The former Executive Committee and the Truslees were further advised by the Senior Management Committee ISMCI which meets five times annually. Membership ofthe Senior Management Committee is as follows.. Execulive Chairman Chief Executive Officers (reduced to one CEO in 2024) Head of Finance Head of Teaching Qualifications Qualifications Manager Regulatory and Qualily Assurance Advisor Quality Assurance Committee The Committee ensures that bbOdan￿ fulfils the regutatory requirements of Ofqual and Qualifications Wales, as specified in their respective Conditions of Recognition. Membership of the Quality Assurance Committee is as follows.. Executive Chairman (Chairl Chief Executive Officers {reduced to one CEO in 20241 Head of Teaching Qualifications Qualifications Manager Regulatory and Quality Assurance Advi50r 13

Qualifications and Awards Approval Board The Committee approves the introduction of all new syllabi for Performing Arts Graded Examinations, regulated qualifications and non-regulated awards and. where necessary, re¢ommends withdrawal of a qualification. Membership of the Qualifications and Awards Approv21 Board is as follows.. Executive Chairman (Chair) Chief Executive Officers (reduced to one CEO in 2024) Head of Teaching Qualifications Qualrfications Manager Regulatory and Quality As5uran¢e Advisor Specialist Advisors where appropriate BBO Dance Supplies Ltd The business of the company is included in the meetings of the Board of Trustees of bbOdan￿ as and when necessary. An annual general meeting is not required to be held in accordance with Part 13 Isec281 sec361) ofthe Companies Act 2006. Fundraising The charity does nol carry out significant fundraising activities. Accordingly, the charity does not use any professional fundraisers. nor is it subscribed to any fundraising codes or standards. 14

Principal risks and uncertainties Governance, risk, and control The Trustees require the Chief Executive to maintain a risk register for the organisation. The risk assessment is reviewed annually, and separate specific risk assessments are conducted for issues such as IT,. events,. Health and Safety. We wish the risk process to be considered as a continuing process rather than a once-a-year review. It 15 for this reason the SMC reviews the risk register peT¥odically and updates are an agenda item at meetings of the Trustees. Op8rational Risk Management The Chief Executive, alongside various members of the Senior Management Committee are responsible for aclivaling and managing the Business Continurty Plan in the event of any incidents that have potential to Critically damage the organisation. The Board would be updated throughout any such incident and would offer strategi¢ guHlance where appropriate. Exposure to Risk Senior Management regularly reviews risk to the organisation and maintains a Risk Register accordingly. This is reviewed in full annually by the Board with any important updates and issues being escalated to the Board as required between annual reviews. Particular risks that are currently identified include (in no particular order).. World Events The effects of pandemic, a war in Europe and economic crises across the world are the type of world events that can affect organisalions like ours. bbodance has expedited the implementation of digital platforms and online collaboration in ils day to day working to provide continuing access lo activities for currenl and prospective members. This also allows members in remote regions lo connect for many of our services. Additional infrastructure and controls across Ihese products have been introduced lo make them as secure as possible and to protecting income streams for any fulure incidents which cause 'in person, activity to cease. Economlc Cllmate Economic uncertainty over the past few years, have brought back the speclre of high inflation and a 'cost of living crisis, to most consumers. This can affect the spending pattern of our members, and we keep a dialogue open with our Re9lStered Teachers and Centres and budget with a mind as to thè limrts of the market, whilst considering our ability to raise income in olher ways. Statutory and Regulatory Compliance The potential of non-compliance with our statutory and regulatory obligations across the group is heightened due to the location and distance of the two branches. To mitigate against the risks the Responsible Officer, based in the UK leads on slandardisation and compliance across the groLJP and ensures consistency across all with a programme of evenls and training specifically for Examiners,. and regular dialogue is held between the UK and the branches.

People As an employer with a small team of staff and contractors (Examiners and Faculty), we offer clear and robust contracts, provide suitable training and offer appraisals or moderation lo support development in order to retain staff and reduce tUTnover. The risk of damage lo the reputation of bbodance through people connected to the organisation behaving inappropriately towards children and vulnerable adults is high. Teachers sign up to a Professional Code of Conduct and are monitored to ensure they are abreast of relevant safeguarding, health and safety and safeguarding policies and procedures. Safeguarding of children and vulnerable adults is at the heart of the activities that the organisation offers and there is an ethos and culture of inclusion that is continually being considered and developed. Financial Risk Management Financial Regulations, which included authorisation levels, are reviewed and approved annually as part of the Trustees Terms of Reference.. Management accounts are made available at Senior Management Committee and Board Meetings and any issues identified are referred to the appropriate departments for support and further action. Branch Financial Controls The Financial Regulations stated within the B80 Board of Trustees Terms of Reference apply to the branches, as well as the UK charity. This can ensure that consistency and best practice with the UK. Quarterly management accounts are provided lo head office, including budgets and forecasts. Any new processes that may be applied across the group are shared. There is a direct and open dialogLJe wth all parties in relation to budgeting and forecasting which are continually being improved. Information and computer Systems bbodance is registered with the ICO but does not require a Data Protection Officer, however external advice is sought as required to ensure our obligations are met. We have robust outsourced IT support. which provides proactive maintenance across all of our infrastructure, as well as ￿ntralISed security and back-up via Microsoft Azure {cloudl and Dalto. We have a secure internel network with access control, firewalls, and regular securily updates lo ensure protection from cyber threats and dala breaches. Access control is strictly limited lo ensure security levels are maintained and there are regular, automated security seans by our IT support company to ensure any potential points of failure are identified proactivety. Forelgn Exchange bbodance is exposed through short and long lerm loans between the branches in Australia and New Zealand as well as between the branches and the UK Charity- Financial Review Overview The results for the year ended 31 December 2023 for the group are shown in the Statement of Financial Activities contained within these accounts. Incoming resources from charitable activities and other trading activities of £1.030,039 {2022'. £915,314) and grants, donations and interest of £6.068 12022. £9.863) generated total income of £1,036,107 {2022-. £925,177). Total operational expenditure was £1,227,322 16

12022.. £1.173,241) resulting in a net deficit of £191,215 (2022 deficit.. £248,0641- This net deficrt was againsl a budgeted surplus of £20.913. At 31 December 2023 the group's net assets stood at £3,178,98812022.' £3,370,203). After taking into account funds tied up in fixed assets, free resetves at 31 De￿mber 2023 for the group were £114,553 12022.. £188,185}. All funds in Ihe current and prior year were unrestricted. The annual figure of £134,456 shown in the accounts for deprecialion12022.' £132,848) is not a current or future drain on cash but is the result of significant capital expenditure already incurred. This was for the purchase of Ensign House together with its fixtures, fittings and equipment. Such expenditure will be of benefit for many years and is therefore written off over a longer period than Ihe year in which rt was incurred. Staffing In the reporting period there was a change of personnel for the Head of Finance role and a Marketing and Business Development Coordinator role was created to work alongside the appointed n7arketing consultants. From February 2024 the joint CEO role was redU￿d to a single CEO. There aTe plans to recruit posthons to cover the Artistic side of the fomier CEO Artistic role as well as to look after member focused activities which had been carried out by this role. The pay of all staff is reviewed annually. Staff continue to benefit from flexible, hybrid working, where roles allow. Volunteers There continues to be a significant contribution from volunteels, mainly comprising Regional Represenlatives for the membership and House Mothers are required for our residential events and there is always an abundance of volunteers, for which the organization is indebted lo. Over 40 days have been volunteered in the reporting period, including". 11 House Mothers at Dance Days 8 Regional Reps coordinating regional meelings and CPD Outsourcing The ongoing arrangements for the organisation's IT and HR support, as well as external advice for Safeguarding and Health and Safely issues, continue along with several contracts for the maintenance of the premises at Batter5ea Reach Headquarters in London. Investment Policy The Trustees have the power to invest any funds not required for immediate use on deposit 01 invest as they see fit. 17

Reserves Policy The reserves policy is to retain b&￿een 3-and 6-months costs and to build on this for the fulure which equate to approximately £300k lo £600k. Presently free reserves of £114,553 (2022 £188,185) are below that largel, however the Trustees are continuing to endeavour to lake steps lo ensure those free reserves are built up in the next few years. In the reporting year to December 2023 monies from the govemment's Coronavirus Business Interruption Loan Scheme continued to be repaKI. The funds were never utilised, and repayments are all on schedule. Going Concern The operational review and resultant decisions continue as an ongoing process as the variables are myriad and so it is difficult lo evaluate with any certainty the outcomes on the organisation's various activities. However, due to the organisation's planning and the availability of a significant unencumbered asset on the balance sheet, the Board of Trustees have a reasonable expectation Ihal the organisalion will continue in operational existence for the foreseeable fvture. The financial statements have therefore been prepared on a going concern basis. Future outlook The continued slabilisation and recovery of the organisation since income was decimated in 2020 and 2021 has been reassuring. Core activities continue to strengthen against Ihe last reporting year. We continue to strive to relain our heritage whilst moving fonM8rd with the personnel and solutions which can keep us current and relevant in a market whi¢h has embraced digitalisation over the past few years. Vlthilst there is still work to do on monitoring and reducing expenditure, the core aims for 2024 are to.. conlinue to steadily grow our membership, supporting our leaching qualification students to join as soon as they are in a position to deliver examinations in Ihe most supportive way possible wilhin our remit", help teachers with relatively small schools to enter candidates via digital routes and as visiting teachers to allow them to establish continue lo offer blended Teaching Qualifications, continuing 'in person, learning alongside online delivery host events for students, including Scholars Scherlle and Dance Days but also focus energies on activities and events which will engage Ihe leaching members., remembering that the organisation was built around the teachers and their needs in the first instance fiJrther increase the presence of regional represenlalives lo support emerging pockets of membership in the UK and internationally embrace online technology to provide members and potential members with the most seamless experience possible when interacting WTth us There still requires a focus on building back reserves whilst ensuring that we do not lose sight of our core values., being personable, friendly and supportive to those in the dance leaching sector, whilsl piomoting excellence. 18

Statement of Trustees, Responsibilities The Truslees {who are also the directors for the purposes of the company lawl are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (UK Generally Accepted Accounting Practi￿1. Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the stste of affairs of the charitable company and of the incoming resources and application of resources, including its income and expendilure, of Ihe charitable company for that period. In preparing these financial statements, the Trustees are required to.. select suitable accounting policies then apply them consistently.. observe the methods and principles in the Charilies SORP", make judgements and estimates that are reasonable and prudent.. state whether applicable UK accounting standards have followed, subject to any material departures disclosed and explained in the financial statements., prepare the financial statements on the going con￿rn basis unless it is inappropriate to presume that the charitable company will continue in business. The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charilable company and to enable them to ensure thal the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularilies. Statement of disclosure to our auditors In so far as the Trustees are aware there is no relevant audit information of which the charitable company's auditor is unaware and the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and lo establish that the auditor is aware of that infomiation. Auditor Blue Spire Limited will be invited to tender for the next audit cycle. A resolulion to appoint Auditors will be proposed at the forthcoming Annual General Meeting. This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies. exemption. Approved by the Board of Trustees and signed on their behalf by-. Nl¢ Espinosa Chairman Date Ik 4.10 19

Administrative Information Registered Charity and Company Name British Ballet Organization, trading as bbodance Registèred In: England and Wales As a ccrnpany limited by guarantee No 01402656 Australla Now Zealand As a charity No 277177 ARBN No 076385403 IRD No 68 994 306 As a branch ABN 78 207 575 900 CC36353 Banks UK National Westminster Bank plc 149 Church Road Barnes London SW13 gHS Australia Weslpac Shops 27128 Macquarie Centre 109 Waterloo Road North Ryde NSW2113 New Zealand ANZ Bank 8 Vidoria Road Davenport Auckland Regulators The Company and Charity is registered with the Office of Qualrficalions and Examination R￿UlatIOn (Ofquall Registration No RN5115 and Qualrficalions in Wales. The Council for Dance, Drama and Musical Theatre validates bbodance as a Dance Awarding Organisalion. The company and charity is registered wrth the Information Commissioners offi￿.. Registration Number Z8722182. Auditors and accountants Incl,.pendent Auditor Blue Spire Limited Cawley Priory South Pallanl Chichester Vvest Sussex P019 1SY Our addresses UK Cawley Priory South Pallant Chichester Wesl Sussex P019 1SY Australia Faladon Pty Ltd PO Box 1588 Hornsby. Westfield NSW 2077 New Zealand Staples Rodway Ltd PO 3899 Shortland Street Auckland 1140 Registered Office Business Offices Unil A. Ensign House Battersea Rea¢h Juniper Drive London SW18 1TA [phone] [e-mail] www.bbodance Unil 20 2- 4 May Street Homsby, Westfield NSW 2077 [phone] liz.derb bbo.danc www.bbodance 9 C8ssinia Avenue Marsden Park NSW 2765 [phone] liz.derb bbo.dance wINw.bbodan¢e 20

BRITISH BALLET ORGANIZATION LIMITED CONSOLIDATED FITriANCL4L STATEmE￿s FOR T￿E YEAR ENDED 31 DECEMBER 20Z3 INDEPENDEi¥f AlID￿oR's REPORT Independent A¥Jditorfs Report to the Members of British Ballet Organization Limited Opinlon We have audited the financial statements of Brrtish Bal￿t OrganEatv)n Linrted Ilhe 'parenl charilatle ccxnpany'l and its subsidiaries (the 'group? for the year ended 31 De￿rnber 2023 which comprise the consolidateé statement of financial aclnlrties. the group and parent charty balan￿ sheet, the group and parent charty staldynenl of cashfiows and notes lo the financial slalements, ItKluding signffjicant accounting Folicies. The financial reporting Iramewcyk that has teen applied in their preparation is appl￿b￿ law and United Kirgdom Accounting Standards. induding Financial Reporting Standard 102 The Financial Reporting Standard appIl￿ble in Ihe UK and RepubliG of I￿181￿ (United Generalty Accepted A￿￿￿nting Practi(xl. In our opinion the financial statements. give a true and fair view oflhe stale Lf the group's and parent eharrtable c￿￿panY'S affairs as at 31 D￿￿)ber 2023, and of the group's inconirg resources and appI￿atIon of resources. includirg rts income and e4xiditure, for the year then ended., have been propety prepared in thano wff(h United Kingdom Generally Acwled A¢￿￿nI￿ng Prre.' and ave been prepared in aCcOrda￿e wrth the requirements of the Companies Acl 2(MJ6. Basis for opinion We conduclecl our audit in aCcOrda￿e wrth InlernatK)nal Standards on Auditi￿ IUKI IISAS IUKII and applicable Law. Our responsibilities under Ihose standards are further de¥rbed in the aLJditor responsibilrties for the audrt of the financi41 statements 5eclDn Of our reporL We we independent of the group and parent chatEtable ccmpany in accordance with the ethical requirements that are r&levanl lo our audit of the financial stmenls in the UK. including the FRC'S Ethr21 Standard, and we have fu￿111ed our other ethical re¥onsibilrties in accordan￿ wth these requirements. We tklEve that the audit eV￿en￿ we have obtained is SLrfficYènl and appropriate lo pro￿l￿e a basis for our opinh?n. Other matt•r The financial statemellls ofthe ChartsI￿e group for the year ended 31 December 2022 were audit￿ by another audrtor who expressed an unm(xJffied opinion on those statements on 14 September 2023. Accordingly we make no comment nor draw y CO￿U$l0n$ In respe( ofthe yearto 31 December 2022. Con¢lusions relating to going ￿nCern In auditi￿ the finanoal slalerllen15, we have cC￿clUded that the Irustee5' use of the gjng Concern basis of accounliTYJ in the yeparation of the financial statements i% ap[￿OPrIate. Based on the work we have perfowed, we have not ￿nffied ary material U[￿ertaInlEs relating lo events or c￿nditIOnS that, individually or collectivety, may cast S￿n￿lcan1 doubt on the group and parent chari13hle ccwnpany s ability lo continue as a going ¢on¢em for a periocj of al least twelve months from when the financial staemenls are aulhuised for is$￿. Our reswngblities and tt)e responsibilrtw of the trustees with respecl lo going COn￿M are described in the rekvant sedions of this repLYt. Other infomiati¢n The other infotmafy'on comprtses the informalv)n included ￿ the reFXrt oflhe Irustees. other than the financial Stat￿￿tS and our audrtorfs report Ihereon. The trustees are responsible for the other Hiformalion. Our opIn￿n on the financ￿1 statements (knes not cover the other infom)aiion and, except to the exlent otherwBe explicrtly stated in our repor( we do not exyess any fom) of assLJrarKe Co￿luSK)n Ihereon. Our responsibilty is lo read the other information ar￿, in d(ing so, consider whether the other infomiation maleriaKy inconsistent wlh the financial statements Of our knowledge obtained in the course of the audit ￿ othetwise appeats lo be matenally misstated. If we Identfy such rNaterial inconsistencies or apparent malerEI Mi￿lateMentS, we are required lo detemine whether this gives rBe to a material misstatement In the financial statements theMse￿es. If. based on Ihework we have perfomed, we conclude that It￿re is a material mEstatemenl of thÉ other informatKJn, we are required lo re%K)rt that facL We have nothing to report in this ￿3rd. Opinions on other matters prescribed by the Companies Act 2006 In our opinion. based on the work undaken in the course ofthe audrt". the Inforrnat￿n gmen in the Iruslees, report wh￿h indudes the directors. report prepared for the purposes of company law. for the financial year for wh￿h financial statements are prepared Is consistent wth the finanaal statements," alld the d1r*(Ks' repLYt included within the IrLLStees' reFX)rt has been prepared in acwrdance with ap￿1(ab￿ legal requirement& 21

BRITISH BALLET ORGANIZATION LIMITED CONSOLIDATED FINANCL4L STATEMENTS FOR THE Y8AR ENDED 31 DECEMBER 2023 I14DEPENDE￿ AUDITOR'S REPORT Matteffts on whi¢h we are required to report by exception In the lom of the knowledge and understanding of the group and pa￿￿t charrtatle company and its enwronmenl obtaned in the cOu￿e of the audrt, we have not Klentrfied material mtsstatements in the directors. reporL We have nothing to report in resttct of the following matters in rdalion to whrh the Companies Act 2006 requires us to report lo you rf, in our opink)n'. adequate accounb'ng records have not been kept by the parent charrtable company. or retums adequate for our audit have not been reCeN￿ from branches not visited by us.. or the parent charrta￿e company's financial Stat￿nents are not in agreement with the accwnbng reu)rds and retums., or certain dE¢bSU￿ oflrustees, remuneration spdufied by law are not made.. or we have n(rt [￿ewed all the irrfomation and explanations we require for our audrt.. or the tnIst￿ were not enIrt￿ lo prepare the financial statements in accordarice wff(h the smal wnpanies, regtire and ta(e athanlage of the small ccThp8nies' exemptions in Pfeparing tre directors, reFKJrt and from the requirement lo prepare a slrategr repo Responsibilrf(ies of twstees As explained more fulty in the statement tsf trustees, res￿nSIbIlIt￿s, the trustees (who arg ako the diredtsrs of the parerrt Charrtab￿ ccmpany for the purposes of ccMpany lawl are resFonsible forthe preparalDn of the financial Stat￿entS and for Eing saltsfied that they give a true and fair view, and for such internal Contr￿ as the Ituslees determine is necessary to enable the preparat￿n of financial statements that are fr from material misslalemenl, whether due lo fraud or ￿Or. In preparing the finanoial staterrEnts, the Iwstees are resFX>nSib￿ for assessing the group and parent Chantab￿ companls abilrty lo continue as a going concern, disdosing. as applicable, matters related lo going contrm and using the going cOn￿M basis of acc£)unbng un￿$ the trustees either Int￿ lo Iw4uidale the gr￿P or parent charrtab￿ company or to cease operations, or have no realist￿ al(ematwe bul to do so. Auditor responsibilities forthe audit of th$ financial statements Our oty'edives are lo obtain rttasonable assuran￿ atout whether the financial stmenls as a whole e free frcKn material Misstat￿en( whether due lo fraud or error. and lo Issue an audftors ieport that includes our Opin￿n. Reasonab assurance is a high level of assurarte, but is not a guarantee that an aijdrt conducted in accordan￿ wrth ISAS IUKI wll ah￿ayS deted a malerral misstatement when it exsts. Mi￿1aleMents can anse from fraud or error and are congdered material rf, Indr￿Idual￿ or in the aggregate, they COU￿ reonabty be eX￿le￿ to irfuen￿ the ￿n0m￿ de¢¢ions of users taken on the basis (I these financial Stat￿ents. IrTegularrties, Including fraud. are instances of non<ompli8nce with I￿5 and regulations. Vve deswjn prcredurgs in line with our respjnsibilrties, outlined atove. lo delect material misstatements in respect of irregularrties, including fraud. The extent to which pr￿edureS are capable of deleding irregul¥itEs, Induding fraLJd is detailed bek)w. Based on our undeislanding of the Charty and the sector in wh￿h il 0￿rates, we identified the principal laws and regulations that directly affect the financial statements lo be the Charities Act, Companies Act, and Employment Act. We assessed the extent of oynpltance wth these laws and regulalk)ns as part of our prctedures on the related financial statement items. In acklilion. the Charity is su¥"ed lo many other kn and rwulakn'ons where the corBequences of rpOn-CcrnFAian￿ COU￿ have a material eff on amounts or disdosutes In the financial slatemenls. for inarw through the imposit￿n of fines or lil￿alK)n. There Is a limrtalion lo areas most Ikdy lo have such an effeGI. Audrting standards limrt the required aud procedijres to Ickntfy non<ornpliance wrth these laws and regulations lo enquiry of Trust*s and other management and ins￿ctIon of r￿latOry and legal CorresporKIen￿ rf ally. Audit procedures performed by the eryagement team indLKJed.' Enquiry of management, thc6e charged with govemance around actual and potentia litigathJn and clams., Enquiry of entty staff lo idenlfy any instances of non<0mplian￿ wth LAWS and regulabons,. Reviewing minthes of meetings ofthose charged wrth gOvwnan￿,. Reviewing financwl statemeni disclosures and testing to supporting (bcullentalK)n lo assess ccmplianTr wrth applicab￿ laws and reguktins. Perfomi(ng audit work over the rEk of management override of controls. ir￿aUding testing ofjournal entries and other adjuslmenls for appropriateness, evaluating the bLJsiness rationale of signffi(3nl Iransadions ￿tsIde the nom course of business and revieing accounting estimates for bias. Because of the Inherent limitations of an audrt. there E a risk that we will not de￿ all irregulantie5, Including those le￿ing lo a maI￿al misstatement in the financd statements 01 non<oxnplBnce wrth regulation. Th￿ risk Increases the mue thai Complian￿ wrth 2 law or regulation is removed from the events and transactions refiected in the financial stat£￿entS. as we will be tss likety to LEcome aware of instances of non-complian￿. The rtsk is also greater regarding irreguLHrrties ￿curring due lo fraud rather than error. as fraud invofves intentional ¢on¢ealmenl. forgery, collusion, omission 01 misrepresentation. 22

BRITISH BALLET ORGANIZATION LIMITED CONSOLIDATED FIN4NCIAL STATEMENfs FOR THE YEAR ENDED 31 DECEM8ER 2023 INDEPENDENT AUDifoR'S REPORT A further description of cur responsbi ilrties is availab￿ on the FRC'S website al.. htt ."lkn.frc.or .uklaLMIit(¥slaud'_ aSSuran￿audl1Qr-s￿eS nsibil￿.eS4Or-the-audyc-Of-th￿f￿I￿scrl K)n-Of-Ih￿au￿rto￿/OE2¥O8oQA99s-[e onsl￿.1￿"es-fOr. This descriptk)n foms part ofour audit￿8 report Use of our roport This report i8 made to the ¢hantable ¢(mpany's mwnber5, as a bc¥ty, in ac£ordance wth Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has bn unC￿rtaken so that we mighl slate to the charita￿e company's memkErs Ihose matters we we required lo state lo them ln an audrtorfs report and for no other purpose. To the fullest extent permrtted by law, we do not ￿cept or aqsume responsibilty lo anyone other than the Charitable Company aTKI the charitable company's me bws as a boty, fly our audi( work, for IhE repcvt. 01 forlhe opinions we have forned. Cawley Priory South Pallant Chichester West Sussex P019 1SY Geofftey BSclHonsl FCA (S￿1C￿ Statutory ALJitc￿) For and on behaff of Blue Spire Limited, StatutoryAuditor Dale io 23

BRITISH BALLET ORGANIZATION LIMITED CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR EMDED 31 DECEMBER 2023 GROUP STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNTI 2023 Total Funds 2022 Total Funds Notè INCOME AND EMDOWAIENTS FROM.. Donations and legaC￿S 9,852 Chan18b￿ actimlies Membership Exarllinalions Educational programtnes and events Total tharil3ble actiwlies 77,210 442,047 288,3(N) 807,557 76.n8 363.542 280.562 720,842 Olher trading achwI￿5 222.482 194,472 Investments 68 Total 1.038.107 925.177 EXPENDITURE ON.. Raising funds 6.043 4.851 Ch￿tab￿ artiMlies Membeiship Examinalions Educational progr8fflmes evenis Tolal charilabk activities 71,373 503.082 646.824 1.221.279 64.575 506 e42 597,173 1 168,390 Total resources exponded 1.227.322 1,173.241 Net Incom•llexp4ndlturo1 and movwnoni In funds 1248.0641 RECONCIUAMON OF FUNDS Total funds brought lon¥aTd 21 3.370,203 3.618.267 Total lunds carried forward 21 3.178.988 3,370.203 The tharity has no recognised gains or losses i)Iher Ihan Ih05e dealt with in the stslemenl of financial activities. Page 24

BRITISH BALLET ORGANIZATION LIMITED CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 ST GROUP AND CHARITY BALANCE SHEET AS AT 31 DECEMBER 2023 Group Charity 2023 2022 2023 2022 Note FIXED ASSETS Tangible assets Invesltnenls 12 13 3.064.435 3.162,018 3,064.435 3,182.018 100 3,182.118 3,064.435 3.182,018 3,064,535 CURRENT ASSETS Stocks Debtors Cash al hand arbd in bank Total current assets 14 3,685 35.972 425,512 465,169 4.406 91.141 433.375 528.921 35,872 424,318 460,190 91.041 430.548 521.589 CURRENT LIABILITIES Cr¢dilors'. 8mounts falling du& within Dne year 16 1298,5331 1263,6531 1320.9141 1285.4151 Net current asspts or Iliabilitièsl 166.636 265.268 139.276 236.174 Total assets kss euvrent Ilablllths 3,231,071 3,447,288 3.203,811 3,418.292 Creditor$. amoun15 falling due after More than one year 18 152.083 177,0831 152.0831 177.0831 Not a8SOtsllllabllltlo81 3,178.g88 3,370,203 3.151.728 3,341.209 THE FUNDS OF THE CHARtTY u￿r￿trICt0￿ funds Designated funds General fijnds Total unrestricted lunds 21 21 3.064.425 114.553 3.17B.988 3.182.018 188.185 3.370.203 3.064.435 87.293 3.151,728 3,162.018 159.191 3.341,209 Total tharlty funds 3.178,988 3.370.203 3.151,728 3,341.209 The financial statements have been prepared In accordan￿ with the provision5 of the CornpanEs Act 2Q06 applicable to Companies subject lo Ihe $ma(I corllpan*$ regime. The accompanying notes form part of these fin¥nryal $18lemenls. Approved by the trusiees signed OD Ihfrirbehalf. Nl¢ Esplwsa Diredor O¥t6 1+.4. 1011fr British Ballet Organisation Limited Cotnpgny Number". 1402658 Charity Number 2T7177 Page 25

BRITISH BALLET ORGANISATION LIMITED CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 DECEMBER 2023 GROUP AND CHARITY STATEMENT OF CASH FLOWS Group Charfty 2023 2022 2023 2022 Net cash flow from operatlng actlvttles l$•e bolovil 33.942 155.0841 35.575 155,3661 eash rtDws from Invostlng 4¢tivitie5 Investment incoTne Purchase of tangib￿ fixert assets Net ¢•$h flows from invèsting activities S8 68 116.8731 110.5291 116,8051 Cash flows from financing actfvtt￿s Loan repayments Net cash Ilows from financlng actlvltlgs 25.0001 125.0001 127,0971 127,0971 125,0001 125.0001 127.0971 127.0971 Not In¢r•a8ollde¢roa$o1 In ¢a$h and cash equivalènts 17,6631 192,6791 16.2301 192.9811 Cash and ca$h oquivalents at 1 January 433.375 526.054 430.548 523,529 Cash and ¢a8h tquivalorts at 31 December 425,512 433.375 424.318 430,548 Cash and cash equivalents consist o C85h at bank 3nd In harbd a$h and tash 8quivaltrnts at 31 December 425.512 42S,512 433.375 433.375 424,318 424,318 430,548 430,548 Rèconciliation ot n*t in¢om¢ to net ¢￿h Ilow fvom op8rating activrliwd Group Charrty 2023 2022 2023 2022 Nel In¢otne for the period 1248.0641 1250.7141 Investment income ItTrierÈsi paid on botrowing DepretyaiioD of fixed assets Decreasellincreasel In slocks Decreasellin¢re¥sel in deblO(S In¢reasellde(Tra5ei in credilot5 1681 1681 4.180 132.848 19611 113.469 156.5251 193.000 4,180 132,848 124,456 720 55.169 34.880 225.157 134,456 55.189 35.499 225.056 113,469 195,34B 33.942 155.064} 35.575 15S.3661 Artoly$ls of ¢haDges in net dpbt At 31 Dec 2022 Non-cash changes At 31 Do¢ 2D23 Cashljows Group Loans l?Ilin9 due within one year Loans 18Ning dut after rnore than one year Cash Total nel debt 25.QOO 77.083 1433 3751 125,0001 25.000 125.0001 25 000 52.083 1425.5121 1348.4291 7.863 Charity Loans falling due within one year Loans falling due after more than one year Cash rolal nel debt 25.000 100.000 1430.5481 1305.5481 122.9171 22.917 122,9171 25.000 77.083 1424 3181 1322.2351 6.230 116.6871 Page 28

BRITISH BALLET ORGANIZATION LIMITED CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POLICIES Goneral Inlormatlon. sco￿ and ba$r¥ of the financial statements British Ballet Organ￿all¢￿ Limiied 1$ a registered tha￿ty, established as a private oumpany limited by guarantee in En9land with the company number 01402856. In the event Df the d)arity being wound up, the kability in respect of the guar8nlee Is limited lo £1 per tnernbtr of the charity. The address of the registered arbd prIn￿paI Offi￿ is given In the chanly infomiabon page al Ihese financial slaternenls and the nature of the tharity's opeiaiions and principal activities are detai￿d In the trustees. report. The chgrify conslilules 8 publlc benefit enllly as defj￿d by FRS 102 flnancial slalements have been prepared in ac¢ordan¢e wth A¢¢ountir and Reporting by Charities. Slalemenl of Recommended Practice applicable lo Char￿leS prep8ring their accounts In accord8nce with the Fin¥noal Reporting standard applicab￿ in the UK and Republic of Ireland issued in October 2019, Ihe Financial Reporting Standard applicab￿ in the United Kingdom 8nd Republic of Ireland IFRS t021. the Chaniies Act 2011 Iho Comp8nies Act 2006 ano UK Generally Ac¢ep16d A¢¢Duniing Practice. The financial slalements are prepare¢J on a going concem basis under the historical cost convenlii>n. The finanual slalements are piep8red in sterling which is Ihe fun(#ional ￿ttencY tsf the charity and rounded to Ihe nearestÉ. A¢¢otsnting eslim81e$ andjudgemenls The tharity fflakes estimates and assump110￿ concerni￿9 Ihe future Mlh the estirnates assuTnplions seldom e4ual lo the related adual resulls The eslimales and a$sumpiions which have a $vJnificanl risk of ¢ausin9 a mgiefial adlusimenl 10 Ihe cawng aTngunts of asset$ and liabihties within the next financial year are Ihose used In Ihe carrying value of the chaiiiy's own premises and l¥nglbie fixed Isseis. These include eslimales of Ihe residual values and useful lives of 85sets lo calculale depreuatian. Eslimales and assurnptions are also used m the alloGaiion of suppori costs. These estimates and assumptions are continually evaluated and are based on historical experience arvj other factors. induding expectations of ftjlure even15 that are be¢ie¥ed lo be reasonable under the circumstances. There are no other significart estimates or judgemenis anticipated lo have 8 S19n￿¢¥ni affea on the amounts in Ihe finartial stsiemenls. consolidat￿ These financial statements 1ndude Ihe actiw1￿S and results of British Ballet Organizalion Lirnited in the UK together ￿th Its brafithes and the results ol 115 Yéholly owned tiading subsidiary BBO Dance Supplies Limited con501idaled on a line by line basis. The charty has taken advantage of the exemption from presenting ils own Statemenl of Finarrial Ad1vil￿6 under SeciioTr 408 of thÈ Companies Aci 2006, with the resuhs of the charity summarised in noie 1. of Ihe8e financial S￿leMentS. lJ)¢ome All incoming resource5 are induded in the Slalernenl of Financial AcbvilRs ISOFAI when Ihe charity 1$ legally tTrlilled to thè income after any performancÉ ¢ondilions have b6en met, lttt amount can ba measured reliabty and il Is probable ih81 the In¢omÈ will be r￿e1ve4. For donations lo be recognised the chariiy will h8ve been noiified of ihe amounts and the Set￿ment dale in writing If there are condiliolls allached lo the donation and this requires 8 ￿ve1 of rerf¢rrnan¢e belore entillemeni can be obtained then income Is deferred Jnlil those con(Jilions are fully mel or the fulfilmenl of those conditions is within the control ol the charity and it is prDbable that they will be fulfilled. Income from other Irading acliwtEs Indudes Income earred from ￿tting o15pace ill the group accounts indudes the income of the trading subsKliary. Such incottte is recognised when entillemenl has OCCUTred. Donated faulilS and donated professional $eN($ are recognistd in In￿M& ai Iheir laii valut when their e¢onomi¢ benefii 1$ probable. it Can be measured feliably and ltte charily has untrol over the item. Fair Value is delerminetl on Ibe basis ol Ihe of the gift lo the charily. For example the amount the ch3nty would be willing ID pay In the open market lor such lacililies and setvice5. A COTresponding arnounl is recogn15ed in expenditure. Investment in¢¢me In the form of bank Inte￿$1 Is recognised as the ¢h8ri1y's nghl lo le￿1Ve p¥yment ￿ established. Expe￿dIturP All expenditure is accounted for on an accTuals basis and has been dassified undèr headin9S thai a99re9alè all ¢¢sls wlaled IQ Ihe caie90ry. Expandilure ￿ recognised wneiè there Is a ￿gaI or Gonsifucbve obligation to make paymenis to third p8rties. it Is probatye that Ihe settlemeni wll be req￿lre￿ and the amount of the obligatson csn be me¥sJred reliably. 11 is ¢3l¢godsed under the following he8dings Raising funds. indudes costs of the trading subsidiary in Ihe group accounts • Charitable auiviltes. Includes all costs Incurred in undertaking acliirylies th31 lurtherlhe charitys 3ims for benefit of beneficrdries Page 27

BRITISH BALLET ORGANIZATION LIMITED CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBEFq 2023 ACCOUNMNG POLICIES Expendltuie l¢ontinuodl Giants payats￿ lo third parties are wilhin the charitable obie¢lives. Vlhere unconditicnal grants are offered, this is aCc￿e￿ as soon as the retypienl is nolthed of the grant. as this gives Tise lo a reasonable expectation that Ihe re¢ipièni will re¢aive fftt grani$. lththtre gran15 are conditional relating lo perfom18nce Ihen lh8 grani Is a¢csued when any unfulfilled CGndrtions are OLrtside of the conird of the Charity. Support costs allocation Support costs are those that assist Ihe work of Ihe tharily but do not dirotrjy rÈpre$enl d)antablÈ activities an<1 include office costs govemance Costs. admlnisirabve payroll cost$. They are Incurred directly in support Dr expendilure on Ihe obieths of the charify. Where sUPPOrt costs cannot be direclty altribuied 1¢ particular heading5 they have been allocated lo expendiluTe Dn charitable aCtr￿lieS on a b3$1s consisieni Wilh use of ihe resour￿5. The analys15 of these costs is indudea in ¢018 8. Gov8mance costs Governance costs are any costs asso¢ial¢d wlth ihe strategic as oppo$Éd to rjay-to-day management ol the ch3rily's a¢liwI￿$. These ¢osls inGlude effloluments for I￿steeship. ihe cost of chaTily employees Inwol¥ed In meeiiDgs with Irustses and the cost of any administrative support providèd 10 the Irusiees $u¢h as external audit, ￿SaI advi￿ for trusiees and Costs assoaaled Wllb consbiuiional and slaiuioty reouirements. Employeo b&n8fMs When employees hsve rende￿ seN¢e lo the ¢haniy. short-lerm employee benefit5 to which the employee5 are enlilted are recognised al the undiscounled £moulll expected lo be paid in exchang8 for that servi¢e. The cosi ol any unusÈd holiday and lon9 Servi￿ leave is accrued In the period in which il Is due. Redundancy and tetminalion payments are recorded as an expensè in the finandal statements as they fall due with any amounts unpaid al the bal8nce sheet dale ac(xued. The charity operates a defined contribution plan for the iEnefit of its employees. Goniribulions are exponsed as they b8come payable. VAT The thaniy is regisled for VAT and coMpl￿S with the requirements of partial exemption. Irrecoverable VAT is accounted for %vilhin Ihe expendilure category lo whi¢h the Jnd8dying costs relsie. Additionally the charily Is fegislered in Ausiralia and New Zealand for goods and sefyite tax IGSTI thrtyJgh ils branches In those wuntrEs and adheffts to thtr requirements In Ihose counlnes. Taxation The cha￿lY is an exempt Char￿1 within the meaning ol schedule 3 of Ite Chariiks A¢1 2011 and is conside￿d 10 pa$s the 1È5ts Sét Out in sÈction$ 466 to 493 Cotporation TaxAGt 2010 ICTA 20101. as such no Income 18K Is payable on the Charity's adivities. Fixod Ass•ts Policy Notes TaDgible fixed assets are slated al wsl less acwrnul8led aepretialion and acctsmul8led Impaiim&ni lo$se$. Cosl Inrjudes costs direcdy Silrityulable 10 makin9 the a58el Capab￿ of operating as intended with rtems of equipment capilalised where the purd)ase price exceeds £1.000. OeprecialiDn Is prowded OTr all tangible fixed assels. al rates calculated lo wrrte off the cost, less eslimaled residual value. of each asset on a systematic bas15 over its gXPo¢led useftd life as follows-. Leaseho￿ property - Valuation Irèvièwed Èvery 5 years). Pbnl & machinery Offi￿ equipment & (UTnilute - 5 year5 straight line. An assessment Is made al each repoding date of whet￿r ihÈrt are indications th1 a fixed asset May be impaired or thal an impairment loss premousty reco9n15ed has fulty or parbally reversed. If such Indicabons e￿81. the chariiabk company e$limales Ihe recDverable amount of the assel and adjusts accordingly. Stock Stocks of items loi ￿Sale are shown in Ihe bal8nce sheet ai the lower of cost and nei r8alisable valu8. Page 28

BRITISH BALLET ORGANIZATION LIMITED CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNnNG POLICIES O•btor$ and ¢roditor¥ ¥8¢aiYabla I payablt within one year Oeblors and Cred￿0Tr with no slated inleresl rale and re￿1vable or payable wilhin ore year are recorded al transaction price and after any Irade discount. Any losses gfjsIDJ from impairmoni are re¢ognised in eXper￿rturÈ. Flnaneial Instrumettts The charily only ha$ financ4818s561s and fin2ndal liatjilibes of a kind which qualify a5 basic finan￿al Insirumenls. Basic financial Instruments are lnil18lly recognised al tran$8¢tion value 8nd subsequentty m8asured 81 Ihelr setHÉmeni valut. ash •nd ¢08h equSvalent¥ Cash and cash equiv21enls includes al bank and in hand avallable for the ¢harty's l￿6. Financial Instrumtrnts The charity only has finanoal assets and financial liabililies which are considered basis finan￿8[ in51rumenls. Those ba%c finanual instruments are recognised on the basis stri out foriransathions and balance5 above. Fund8 Unr*slrictedfvncls Unrestricted funds are 3vail3ble for use al the discretion of the Iruslees In ￿ffheraQ¢e of the general objectives of the charity an4 which have not been designaled for other puiposes. Reslncted ffunds Restricted lunds 3Te funds which are to be used in accordance wittTr specific reslriclion5 Imposed by donors or which have been raised by thariiy for particular purposes. The cost ol raising and administenng such funds are charyed against the specthc fvnd. The aitn use of each restricted fund Is Sel Out in Ihtr noits to these fiDaDoal 8laieTnenls. Al present the charity has no re51ricled funds. GoSn9 ¢OIIC• The fin8n¢Jal slalemenls have been prepaiea on a going ¢onGern basis as the Iruslee5 believe ih¥l rto material vn¢ertainlies exist. The trustees have considered the ￿Ve1 of held and the expected level of illcome and eXpe￿Ill￿re for 12 months from 8ulhorising these finanual slalemenls. The budgeted income and expendilure is suffirienl with the ￿Ve1 of reserves for the tharity lo be able lo continue as a going conce Page 29

BRITISH BALLET ORGANIZATION LIMITED CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 GROUP AND CHARITY NOTES TO THE FINANCIAL STATEMENTS 1. Rosvlls ol the cha￿ty 2023 Totsl Funds 2022 Totsi Fund8 Tol81 Income Toi81 expendrtJ Nel inc0mellexpentyilu￿I 1,031,798 11,221.2791 917.676 11,168.3901 1250,7141 Induded wlihin the ¢hariiy's ioial incoine above is £7,87312022. t5.2231 of gift of profits from the trading subsidiary as shown in note 13 lo these financial slalemenls Other adjustments berw8en the resiAlS of the Gharrty and the consolidated results is elimination of the sub&diary Inco and expenditure also shown in note 13. 2. DonatÉ0Tr5 and legacles 2023 Total Funds 2022 Totsl Futtd$ Gran15 Donations Group 6.000 7.852 2.000 9.852 6.000 3. Charitablfr act￿ltIe8 it)¢ome 2023 Total Funds 2022 Total Funds Membership ExaminaliDnS Edu¢aiional prograrnmes and event5 77.210 442.047 288,300 807,557 76,738 363.542 28D.562 720,842 Other trading activities 2023 Total Funds 2022 Total Funds L6111ng 8nd Olhtr income Tradin9 subsidiary Isee note 13.1 210.300 12.182 222 482 181,748 12,724 194.472 Page 30

BRITISH BALLET ORGANIZATION LIMITED CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 310ECEMBER 2023 GROUP AND CHARITY NOTES TO THE FINANCIAL STATEMENTS & Investment5 2023 Total Funds 2022 Total Funds Bank interest 68 68 6. Ral¥lng lunds 2023 Total Funds 2022 Total Fund$ Tradin9 subsidiary (see note 13.1 6,043 6,043 4,851 4,851 7. Charftablp actlvltle5 expendlture 2023 Total Funds 2022 Totsl Fvnds Membe siaff ¢osls Conirsclors Direcl costs 15.720 14,163 3.045 18.765 41.734 10.874 71.373 1.891 16.054 38,296 10,225 64.575 Support cosb (see nole 8.1 Govefnance c051515ee note 9.1 xarnina staff costs Contractors Direct (xsls 59.223 17,760 222,243 299,226 56.760 16,763 245.101 318,624 143.397 39.621 506,642 Support costs Isee note 81 Govemance cosis (see noie 9.1 42,138 503,082 EduGalN)n Pro Staff cosls Contractors rammgs and Evtrnts 128,082 17,760 99,847 245.689 318.219 82.916 646.824 129.657 16.762 80 784 227.203 292.006 77.964 597.173 Suppon costs Ise& noit 8.1 Goveinsnce ¢0$15 1st8 note 9.1 1.221.279 1,168.390 Page 31

BRITISH BALLET ORGANIZATION LIMITED CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 GROUP AND CHARJTY NOTES TO THE FINANCIAL STATEMENTS . Support tosts 2023 Totsi Funds 2022 Total Funds Staff costs Contractors Depreualion Property costs Audii and advlsory MatkeliDg and websile Course development and othercosls Inleresl payable and foreign exchange Other office ¥nd central cosis 162.029 10.939 134.456 89.787 149.771 10.743 132.848 72.579 11.588 13,420 10,127 2,990 74,633 478,699 10,15J 13.847 2,554 78.796 521,671 Allotslion olsupportwsts Membershi Examinations and Syllabus Education Progiammes and Events 41.734 161.718 318.219 521.671 38,296 148.397 292.006 478,699 9. Governance costs 2023 Total Funds 2022 Tetal Funds Staff costs Other goveman¢e costs 131.842 4.086 135,928 124.221 3,589 127.810 Allocation ofgovemance costs Metnbership Examina￿on5 and SWl8bus Edu¢aiion Programmes and Events 10.874 42.138 82.916 13S.928 ID.225 39.621 77.964 127.810 19. Audworfs romuneTrtio Audit AccounlanGy and taxation 10.500 2,500 11.588 2.307 Pag• 32

BRITISH BALLET ORGANIZATION LIMITED CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 GROUP AND CHARITY NOTES TO THE FINANCIAL STATEMENTS 11. Wages and salary costs and related paty tran8a¢tlong 2023 Total Fund¥ 2022 Total Funds Gross wage$ Ernployels national Insuran￿ cosls Inel of empFoymenl allowan￿> Pension CQE15 448.519 28.215 18.331 495,065 477,909 21,825 17.093 516.827 2023 Total 2022 Total Staff number5. Average head count There were Th) amployees With emoluments lexduding employer pension costs) above £60.000 in this or the preceding year Self8mplDyed Sta A number of self-&mpbyed staff are contracted on a parf brne basis lo a5BlSt with the prowsion of charitable actiwlies. Total paymentsio such staff the year Ive￿ £46 45912022". £44,2681. Pens￿￿ schemtr The ch8rily operates a defined contnbutson pension scherne5 for rts employees. Payments lo Ihe 5chetnes inclusive of Contribut￿Tr5 and fees 8mounied lo E18.931 12022. £17.0931. K&y ny8naoem$ntpw&)nnél A d)anly'$ key maft8g8meni personnel are Ihosa persons hairing aulhority and respon8ibili¥y for planning, difeclino and conlrdliw tha 8¢tivilies of the charity. directly or Ind1re¢Uy. Employee benÈfils for IhÈ canty's key managèment personnel188 detailed In Iht information pagtl I￿￿U81ve of gross pay. employeT'S national insurance and employer pension Nnlribuliorts amounted 10 E191.21912022. £122.4471 in the year under review. Trust6e ￿MUnera￿On andbenefits No IFuslee5. or any enlily from which Ihey re￿1ve a benef￿, re￿i￿ed iemuneralK)n. expenses nor fees for setvices or good5 supplie( lo ￿e charity In the yaar under rèview or the comparative year. Olhwtransaclions with rElatedparties An unreslndéd grant DI £6.DOO 12022." E7.0001 wa5 re￿￿￿ frotn Espinosa Memorial Fund. a charity for which Ihe chairrnan'5 davJhter is Iruslee. Page 33

BRITISH BALLET ORGANIZATION LIMITED CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 GROUP AND CHARITY NOTES TO THE FINANCIAL STATEMENTS 12. FLYad Assots- Group and charlty Leasehotd proprty Plant & ma¢hlngry quipmont & furnlturg Fixturos & ffttln9$ Total Cast Al the beginning of the year Addibons Disposa15 2.79S.377 506,405 251,313 15.363 808.197 4.362,292 16.873 2.7￿,377 506.405 266.676 809.707 4,379,165 Oeprecial￿0 $nd Imp8irrnents Al the beginning of the year Deprecialion Dispo$aL 362.534 50.539 242.373 3.082 575,367 80,835 1,180.274 134,456 413.073 245.455 656,202 ,314.730 Nel book Val￿ al the beginning of the year 2,796,377 143.871 8.940 232.830 3.182.018 Net book value al the end of the year 2.796,377 93.332 21,221 153,505 3.064.435 13. Invgstmvnt in tradlng subsidlary- Charlty 2023 2022 Par value ShaTe$ hold Pav value Total Shares held P4¢. Total Sharos in B80 Oance Suppl'es Limited 100 loo 100 The charity has a 100¢ts D￿r￿￿ trading subsidi¥ry. BBO 08n¢e Supplies Limiled, Ythich 13 ID¢o￿Orated I(￿MpanY number ts9072301. 11 is sponsible for the sale of various Ipachin9 resou{￿s, dolhing and other merchandise. Tho results of the trading subsiaiary S￿ sWn below wllh ihe entirety ol its activllies ￿Ing part of un￿SinC1ed fuThls. 2023 2022 Turmver Cost of Sales Gross profil Admillislrattve expenses Profil on ordingry a¢iiVi116s kJ6fore iaxation Tax on ordinary acbwlie5 12,182 12.724 12.9941 9.730 15,3221 6,139 7.873 6.139 7.873 Re5eTves broughl fotward PTofil for the year Gift lo parent tharily Reserves Carned f¢Thvard Share capiial Nel asseis 28.994 6.139 17.8731 27.260 7.873 15.2231 28.994 100 29.094 27.360 14. Stock Group Charity 2023 2022 2023 2022 ilerchandi$È. dokning and leaching materials 3.685 3.685 4.405 440$ Page 34

BRITISH BALLET ORGANIZATION LIMITED CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 GROUP AND CHARITY NOTES TO THE FINANCIAL STATEMENTS 1S. DebtTrrs Gro¥p Char 2023 2022 2Q23 2022 Tr?d8 debtor5 Prepayments and accrued in¢Dme Other debtors 13.504 6.003 16.465 35.972 12,029 12.687 66,425 91,141 13,504 6,003 16,365 35,872 12,029 12.687 66,325 91,041 16. Cr¥drtors'. amounts falllthg du6 wlthln on8 year Group Charty 2023 2022 2023 2022 Trade credilois Bank 103n Taxation 8nd sotial 5ecurtfy Amounts payable lo Subsidiary Other credrtors A¢uuals Deferr$O income (sèa note 17.1 28.733 25.000 14.780 29.541 25.000 15.433 28.731 25.000 14.780 22.383 76.474 41.315 112.231 320,914 29,540 25,000 15.432 21.764 86,554 30,327 76,798 285,415 76,474 41,315 112.231 298.533 88.554 30,327 76.798 263.653 17. Dofvrrod In¢omè- GTOUP and Chaiity 2023 Total 2022 Total Bloughl fopmard Released in the year Defèrred In the year Catned fO￿ard 76.798 176.798 149.918 1149.9181 76,798 76.798 112.231 Deferred income compnses gf In¢ome re(eived In advance of related costs Ihal wal fall in ItrLe folbwing year. in particular payments for the leaching qualifications, membership and scholarfs income. 18. Credltors= arnounts falllng Ilue after more than one ypar Group Charty 2023 2022 2023 2022 Bank loan 52.083 52,083 77.083 77.083 52.083 52,083 77,083 77.083 Page 35

BRITISH BALLET ORGANIZATION LIMITED CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 GROUP AND CHARITY NOTES TO TPIE FINANCIAL STATEMENTS 19. Oppratlng lèase commitments Al the end of the reporting penod the ¢hanly and group had lotal miniTnum lease paymonls under nO￿¢an¢￿1ab1È operaung leases as foiiows.. Group Char 2023 2022 2023 2022 Amounls payats￿ in undeT one year AiTrounis payable in OTbe to two years Afflounts payab￿ in t4YD lo five years 5.268 5.288 7.272 17.808 5.036 5.036 7.129 17.20T 5.268 5,268 7,272 17,B08 5,036 5,036 7,129 17,201 20. ¢oniing&n¢los- Gmup and Charity MRC accepled th$ charily's application for VAT relief under a Capital Goods Scheme I¢GSI in March 2017. This resumed In a material iecovery of VAT paid on the acquisition 8n¢ fil out of Ihe thaniy's h68dquarter$. Ensign House. The maionty ol this amount has been ieceNed from HMRC In van8ble amounts 51nce January 2018. £11.648 12022. £65.6291 remains oirtsianding al the balance sheet dale under this scheme ¥nd is expectèd lo be re¢ovtr¢d lully In ihe year. The amount ￿CeiVable can and will change as iha use of the bu1￿1￿ thanges. 21. Analysls of not rnovamont luods- Gioup and Charlty Gioup Ytrar ondod 31 Dgc•mbeT 2023 Transfors be￿ee lunds Tof41 funds Total funds carrtèd fornard foEY4ard Incorne Expendlture Unrestrided funds Desvjnaled funds Fixed assets Total designated fund5 General lund$ 3.182,018 3.182,018 159,191 28,994 3.370.203 1134,4561 1134.4561 11,086.8231 16.0431 11,227.J221 16,873 16,873 19,0001 17,873 3.064.435 2.ON.435 87.293 27.260 3,178.988 1,023.925 1.036.107 Total fvnds 3.370.203 1.D36.107 11.227,3221 3,178,988 Charty Year endod 31 D•c•rnb•r 2D23 Transfers b•twè¢n funds Total funds carried lorwald Totsl funds tarTied foTward 1￿COme ExpoTrditur UnteslriGt8dfiJnds Designaled ￿ndS Fixed assels Total designated tunds General tunds Total ￿n￿$tri￿ed tunds 3.182018 3.182018 1134,4561 1134.4561 11.086,823} 16.872 16.873 3,064 435 3,064.436 87.293 3,151.728 1.031.798 1.031.798 3,341.209 Total funds 3.341.2Q9 1.031.798 3151,728 Page 36

BRITISH BALLET ORGANIZATION LIMITED CQNSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 GROUP AND CHARITY NOTES TO THE FINANCIAL STATEMENTS 22. Summary of group incom? and expenditure contributed by etylity 2023 Totsl Funds Charlty and branches Australia New Zealand BBO Dan¢a $upplle$ Ltd UK Oonations and lega¢ie$ Charitable A¢iiwties- Metnbership Charitablè Acti￿116¥- Examinations charitab￿ AGliwlies- Educational pro9rammes and events Olhertrading activibes Investments Total Income 6.000 54,983 325.700 214.043 209,718 35 810,479 6.000 77.210 442.047 288.300 222 482 68 1.036,107 10,397 62,683 31,349 53,664 42,908 582 12.182 33 104.462 1D8,984 12.182 Raising tunds Chsrilable Acliwlves Staff costs charitab￿ A¢tivrties- Contractors charitab￿ Actiwlies- ￿{ec1 costs Support cosls Governance cosls Total •xp8ndlturo 6.043 6.043 203,025 35,520 325,134 521,672 135,928 1,227,322 159,406 35.520 230,739 429.987 135.928 991,580 43.819 57.800 84.096 36.595 7,589 185.515 44.184 6.043 Managgment charg• 68.347 168,3471 Not In¢omolloxpgndlturg1 18,0691 6,139 Page 37