Central School of Ballet Company Re8istratlon No. 1657717 Charity Re8istrationt40. 285398 The Central School of Ballet Charftable Trust Ltd (A Charltabte Company Umlted by Guarantee) Report and Flnanclal Statements Year ended 31 July 2021 Chartered Accountar*ts 6 Sutton Plaza Sutton Court Ro￿1 Sutton SM14FS (A ¢ompany Yrtnlted bytuaraDteel INDEX Lwl and AdnNnistrati¥e InfMnatK)n eport ofthe Board ofG)vemo Corporate Governance Statement ststement of Responslbilities ofthe Board of Go¥erry 12 Independent.Audknr5' Report 13-15 Incorne and Expendlture 16 Balance Sheet 17 Ststement of cash flows Note5 to the accounts 19-28 THE CEPITRAiSCHOOL OF BALLEraiARITABLE TRiIST UMrrED (Acompany Imlt•d tyeuarnnt￿j LEGALAND ADMINlStRATIVE INFORMAnoN The Central khoolof Ballet Ch¥itable Trust iirnited R¥lster•d Chwlty Number. 285398 A*¥F*red CoThy•ny Number. 1657717 HRH The C0Wrt￿ ofwessex GCVO Pmsklent Lady Seff G￿rnI￿$ {tyustees1.. Ra1￿ 8emard CBE Ichalmunl Remuneratk)n and Nominatths Committee (Chalrl Pim Baxter OBE Dr Virglnhi Brooke Slmon Cole Carole Gable David Grty CBE Heldl Hall Christopher Hampson Stephen Kane Wendy Pallot TIM Parsonson Charlotte Schonberg &Jsan kott-Parker 08E Slmon Sportsy8 AndrewTu¢kev Iresi8ned 19.07.20211 FinatKe Commlttee ffln•n¢eCtynmtttee{ChalTI Remuneratlon and Nomlnarions Commlitee Aud￿ Commlttee Remuneratlon and Nomlnations Commlttee IWc&thalmanl, Finance Cornrrtittee, RemuneratK&n and NominatkJn5 Commlttee Audit Committee Audit comTh￿ttee lth•lrl Jonathan Wood Tamas Wood Carolyn Braby prtndp•l: Senlor M•naymont Te•m Mark Osterfidd Chdstopher Marney Orjamieson DTrtsur8h Loulse Alnl (Execu￿ Dlrertorl (Artistk Dlrertor. Resl8ned 25.07.211 (Dlrertor of Ht8her Education from 01.01.20211 (Dlrector of H￿her Edu¢ation Programme5, re5Wed 31.12.20201 (Dlrector ol finarKe & Operatlon51 (Head of Studies) (Head ol Senior Sth00l. Aesi8ned 31.05.211 (Head of Widening Participation & Access) (Fkad of Medical Department) Carotym Braby lryna fyiniuk Elia Luyando Lopez Debra Cougill Anna 8rodTKk Retsered Office and ntlpal address The Countess of Wessex Studios 21122 Hathdds Paris Garden London SEI 8DJ IA compaory ikniied byguarantee) LEGALAI4D ADMINISTrATIVE IIIFORMATION laxrtlrn*d) HSBC 31 Euston Road London Nwi 25r Mazars Chartered *£countwrts 2Nd Floor 6 Sutton Plaza Sutton Court Road Smi 4FS THE CENTRAL SCHOOL OF BALLEfcNAR￿ABLETRL￿ UMITED (tht IA c<#N?any lrnlted by￿￿ante*l REPORT OFThE BOARD OFGOVERNORS FOR ThE YEAR ENOED 31 JULY 2021 The Governors. tho are the trustee5 of the thartty for the purpose5 of charlty raw. present be￿W thelr annual reporL together wth the audlted flnanaal statements of the Trust for the year ended 31Juty 2021. Prlncip•lartMty*nd ch•rttalde d*cl The Trusysoverall aim i5to irnprovethe educatKJn andtra5nln8of danctrs. As a means of a(h￿nIthalaim, the Trust runs the Central School ol Ballet and tt>urs pwfomiwKes as Ballet Central. Publlc B•n The core elements of Central School of BalleY5 publlc benefit a￿.. producing ex(eptlonal artlsts who shape the fvture of dance: fosterln8 talent and Creat￿lty throuAh worl&dass ￿￿tIonal tralnl finding and nurturln8 the finest UK tal*nt- supportln8the cultural infrastrudure: fuelling devdopment In the Creati￿ indu5tr1es- and Intematlonal leadershlp In dance. Central School of Ballet continues to keep publk benefft at the heart of Its KtiVit￿. In Ilne wlth publlc benefit guidance provlded bv the Charlty Commlssbn. Its approach to recwltmènt Is to sdect strjdents on bJ5b5 01 talent irrespttti¥e of other factors and f¢ ensures thls by aud1tlon1￿ every student who meets the recruttment criteria (more than 250 appJicatK)n5 annualtyl. Where financial asslstanc• Is requlred Central supports S￿dents with bursaries. scholatshlps and support. ￿ has been commltted to sharln8 Bood practlce w(th the slx schools wtthln the Conseryatolre for Dante and Drama ICDDI the wlder educatKJnal and cultural sertor> Central supports notonlythe edutatlon of youn8artists butaknthelrwellbdn8and theircontinuln8 professional development after graduallon. It offers support to artlsts throu8hout their careers h commiss1on1￿ new works and t￿h1n& Central, with the Conseryatolre for Dance and Drama. has contlnued to enhancethe educational and cultural life of the UK. Information on how Cemral h45 achleved these oblectlves Is set out In the financ0￿ ￿￿tWand of actlvltles below. The financlal statements In¢lude a ststement Informltton abotstthe 5th001'5 8overnwKe and legal structure. Thls statement appears on page 10. Revl¢w of arthftl•s The academic year 20121 proved fvXab￿on h¥0 maln counts: the Success ofourstudents in wrryletln8 thelr studl¢s In the fxe ofthe Covld 19 paThdemlc, and the siKcessfvl dellvery ofThe Countess of Wessex Studknscapital proJe¢ whlch pmvlded a new home for the school In the summer of 2021. Workln8 10 • flexlble plan of onsltelonllne leaming HE students returned to Herbal Hill in September 2020 workSn8 to a rev15ed tlmetable whlch mitigated aylnstthe rlsksof Covid infert5on throu8h stag8*red tirnin85, s(Klal distancln& mask wearln& and enhanced hyglene measure5. In thecourseof theyear. thetlrnetablefle¥ed toallowfora ¢ompleteonline programme inJanuary/February durln8 lockdown. and a phased return to rr￿e intenyve onsf(e prattice aft*rthe to The Counte55 of Wessex Studlos. Demon5tratlns an pntreprerbeurlal flalr, Ballet Central prod￿ed a fllm of The NutcrKker which was Screened to a soclally distanced audiÈnce at theADC Theatre In Cambrldge, as well as made available on a pay perwew bay5, on the school's ntw web5tte which was launched In December 2021. Thefollowlngsummerthe Balletcentialtourwentahead * iivenues.thrtsJ8h thecreatk)n of 2 casts in Covid'bubbles,, allo￿n8 our thlrdwear students the perforniance trainrry and experience thty needed to complete their studies, and glvln8 audlences the pleasure of a return to INÈ dance. Whilst aduh da55e5 were suspended for the year, Junk)r and Associate ¢la55es and short courses contlnued onlin& wth the A550ciates retumin8to onyte 5essioThs ai the end of the second term. Durlng the year the capital works on The Countw of Wessex Stud￿$ progressed wlth the school nx>ving ￿tI￿ry to the new prernSses on Saturday 5 June, and vacating the Herbal Hill Site on Wednesday 23 June 2021. The n>)ve coupled ¥hth rhe staged relaxation of 8ovemment COVKI restrittions. all0￿*d Centrafs HE students to return to a fulleronslte teachi￿ programme, wfth the Year 3 students Tehearsing forthe Ballet Central tour and the Year l and 2 students part1c1pat1￿ in of year perforn)ances in the new Gable Studlo Theatre. The year ended wth Summer khools delwered onsite as well as online, #nd the i￿g￿nn1r￿ of a hire programme of studlo 5pKe, pro¥hYing stste of the art kilities to the Industry and forthexhLWI. THE CETrIfRAL SOIOOL OF BALLEfoiARrrABLE TRusfuMITED (thè {A compny llo￿ted by iu•rarte*l REPORT OF THE BOARD OFGOVERNORS (Crrtn￿d) FOR THE YEAR ENDED JIJULY 2021 In October 2020the Board ofGoVer￿srnadethede(tsth toWthdr￿ Central Schwl of Balltt Irryn membership oftheCon5er¥atoire ol Dantè and Drama ICDDI by 2023, and to sÈek 5elf-reglstraiion as an Independent higher edwation provider with the OFfke for Students lots). On 31 March 21 an appllcation was wlynitted seekln8 sell4egistfatlon by summer 2022, curreNl¥ being procwed. In parallel. and due to the fact that the ￿her member sthooLs deoded to Seek alternative ￿vernal￿e paths, plan5 have now been agreed and conflrmed thmu8h a new Member5 *eerwit and Rthlsed Artick5 of Assocknon, for the dissofution of CDO after the departure of the members in 2022, or a year later. If èny member need5 time to confim se1f-reglstrat￿Tr or alternatlve su contract arran8ements. Central Sthool of 8allet Is actfvdy working with CDD and the other Member Schoots on pro8resslng these arran8ements and fatllltatirq tht transItk￿ of all CDOenr(Aled studvrtsto thelr4tffnath xhool reeSstratlon. There have been two key Executlve Team appOInt￿nts th$ year, wlth DrjaM￿SOn Dryburgh becoming Director of Hl8htr Educ*lon In January 2021, after the resl8natlon of Loulse Alnky at the end of 2020. and Kate Coyne due to take up the role of Art15tic Dlrector and Pfofesslonal Tralnlng Lead from Ouober2021, afterthe reSI￿at￿ of Artfstk Dlre¢torChfistopheT Marney atthe end of July 2021. Anna erodrlcl Head of Medlcal, ¥rrfl Chrlstopher Marnrywere both nomln•ted foi the One Dance awards In A￿uSt 2021. Both the Board of ￿Ve{nO15andthe staff team haveshown excepttonal ¢ommltment and demoThstratedthe breathh andvalue oftheir 5kllfs, In helplng Central mana8• thls year of trans6tlon. Our studènts have also th¢)wn remarkable p*lence ènd re511ience, as have our supmers who ha¥e malntained f*th In abl1￿ to IILKlbly delfver on our comrrAtrwty In splle ofthe thalle￿e$. Boird olGu¥•m Central School of Ballet's aoard ol GoverrKYs. led by Chalr Ralph Befnard CBI have provlded Invaluable advlce artd support In thls exceptlonal year, as wdl as malntslned a stron8 Ilne of contlnuity In a timè of Exetutlve, organ1￿}0na1, and premlse5 than8e, In the context of the social and economk Impxts of Cgvld 19. At the end of the attounting perlod the Board membershlp totalled IS 12019120: 171 and thls remainsln-llne ￿t￿the01￿CefOrStudents(0tsI Stipulatbw and wlth theihree requ1s￿e$ubJuate p05twaduate courses *ere wlth students achlwlng the followlng: FOUnda￿On De8ree Profe55ional Da￿e WKI Porfommnce ILevel 51 Total FO awards- 43 36 students with pa$5 (p￿fall ontyl S students with deferiats to complete I student Intem6tt1ng I student withdrew THE CEIIThAL SCHOOLOF UiLEf (IlARifABLETRUST UMtIED (the IA campny knlt•d bygyarantse) REPORT OFThE BOARD OF GOVERNORS l¢ontlM￿d} FOR THE YEAR ENDED 31JULY2021 BA IHonsl Towip Professlonal Da￿e and Perform￿¢ ILv¥*l 61 Total BA (Hon51 d￿ree awards.. 37 10 students w￿h i# aass Honours 24 students with a 2=1 2 students with a 22 No students wth 3NI aa5S l Siudent a deferral to complete MA Choreography Course ILevel 71 Total MA awards= 4 (all with dlstirttlonl NO Detylmerf Po In order to rniti8atethe ne8athe Impactsof Covbd 19 on learn￿OUtrom¢S. The Untversityof Kent extended iheir'No Det'rlment Pollc thls academlc year. While r￿le restdcted than the preylous year. th15 pol*y f*lltated lenlency wlth assessment deadline5 and add￿lOnal deferred assessment attempt& Co￿eqUentIy, ti was to those ￿￿dents who were d15pro1￿10nafety affected by Covld 19. MA Chom¢8r*￿Y Sus•n Kempster was appolnted In the ne*tydedk*ed role of MA Chmgr¥hy Course bead and be8an work In Ja￿•ry 2021. The MA choreo8raphy studwts were ableto contlnue thelr leamlnl and deveW thelr ¢hore(yaphlc S￿￿$ thr¢u8hout the year albelt some invperson projtcts were not oble to pr￿eed. The students made good woyess and those who had deferrals were able to complete thelr tour5e successfully. All four students 8radu•ted wrth dlstlnttknns. Currentty. as expethed. two students are contlnulng. thelr studies on this COUTSe. The applicatknn pnKe5s for the next cohort of MA students Uan 20221 has belun. Exceptionally th15 year, • thlrd MA student wlll joln th an independent bursary to fund hb studle Natasha Chu and Anlalt Mehra were both chosen to thoreograph for Nth¥ Adventures dwKe compan¢5 Adve4rytures In Film, creatl short *Drks for fllm. Extsmll Ex4mln•ts Attlme ofwritlngwe have notyèt rÈ¢eived ihe Ertemal Examlners. reports. Howv4er.thelr leedbxkatthe Boardof Examiners meetln8 was extremdy po￿t￿e. They both commented on the standard of student work and the school's achievement In iealisln8 very good student outcomes de5plte excepiionalty chall*nglrvd cIrcuM￿anCe% 80th External Examlners have now completed their tenure. Based on our recommendatlons, new Exiernal Examlners, Carla Trlm-vamben (Contèxtual focusl and K)t Holder IPractical focu51, have been appointed by the Un￿erSIty of Kent. Debble Le&Antl*)ny. a current external examiner. will continue to oversee the MA Course for a fwther year and menior the ntw Extern* Examiners. Graduate Ernploymenl Students who recelved offers of paid contrKts Indude the lolknvlng Companle5.' Arts Ballet Theatre of Crystal BalleL Ballet Diabolo US4 BaIletJo￿en in Canada, and Uncolnshrre Youth BalleL Many students found placements In further tr*ning and thesè orKl￿￿ed Balkn Biarriti Junior ￿ Franc*. Black Box In Pau Iwrennees, Ima8es Ballet Company at Lon(kJn Studlo (entre & Northern 6&lÈt postyad. Ten Y35tudentswere chosenfor'swan Scho¢*, an Initsatlveset up by Matthew81)um¥5 Ne•Adventurestoldentifytalentand develop the dancer5 into cvmparry empbyees. Thistakes plxe In the surM*r. Central maintains t105e links wlth Its alumnl and Is 8rateftJl for ￿uMn1 p3rEknpath)n In ￿treach tslks, workshops teaching. Ri5han Benjamln, now with kottish Bal￿ alofi￿￿e ot￿r Central bYaduate5, appeared on the cover of trance Europe. Cèntral MA Choreography 8raduate Dane Hurst was apwjinted Arttrric Dlrector of Phoenix Da￿ Theatre. (A company lrnlled tyyarantee) REPORT OFTHE BOARD OF GOVER1401LS (C￿l￿￿ed) FOR TrIE YEAR ENDED 31JULY2021 Intsrn•lk>nal Dw•lopment Annual wdltlons took place vlrEuaify. wrth applicants assembled In dar￿ st￿￿*￿ In Japan Central staff wlthin 5tudi05 at Central, ond offws were made to stu(Jents to loln both Year l aNI dIr￿t entry toYe¥ 2. Natlongl Stud•Nts￿￿vrf 1021 The Natlonal Stydentsurvey INSSI gathers students. Wnlonsonthequalityof th￿cOurse$. At CSB. r( is completed by our second year Foundatlon Debyee students. The NSS data help to Inform prospeth Studen￿ choSces, $UPF￿rt Instttutitin5 in improvln8 the student experlen¢e, and facilitate pU￿*C accountsbllfty. In 2021. the NSS resufts agye8ated across the CDD schools had an overall satisfaction ore of 77%. Th15 15 5i8nifficantly lower that last year192%) and refiects the trthd In NSS scores acr05S the sector in the midst of Covid 19. The dlsuete 5attsfaction rates were,. Tèach1￿186%I. Leaming Opportunrtles182%1. Assessment and Feedbatk170%1, Academic Support185%1, Organjsatlon and Management166%1. Learninq Resourtes173%1. Learn[￿ Communlty183%1 and St￿lent Voke170%1. These scores are above ihe na￿Onal avera8e. 8alet Centr•lTour 2021 Ballet Central tldayed the openlrw of the 2021 tour lor reduced 8th*rNxent restrfcth)ns to •lltrAf thkn re-openlnB5. A shorter tour of 11-venues took place complyin8 wlth Covid aulddlnes. The students were split Into two touring bubbles and alternated th• performances. The ballets sta8ed were Le Corsolre Art I by Chrfstopher Mafnry, a new crèation by Central ￿ student Charlotte Edmonds entltled'Jl¢$o￿ wlth Mu￿¢ commissloned from Centrjl's Mu51cal Dlrector and Compo5tr in Resldence Phillp Feeney, and a r•￿Val ofAct 2 from Matthew Bourn￿5 HlqhlondAirrfArt2. A new fllm of'Nuttroc*er- The 12 Ws of chrtstMo￿ was (l￿re￿aphed by Ctr*tstopher M•rnry due to the company not beln8 able to perform the usual I￿e Prod￿tIOn at the ADC Theatre In Cambrid8e where wformances had 501d In the prkrf 3 ye•Ts. The film was however shown to 8 lfve audknce at ADC before Chrfstmas and streamed to J licket-buylw 8lobal audlerto, ENlerTrwl Pvol•cts •nd CdliboratSons DanceEurope ma8azine created a short fllm ¥•lth Y3 students on the mak5n8 of the B•llet Cefflral tour. Th15 appeared In the vlrru m•8azlne as well as a double paBe feature In the ylnted •dltion. It ad¥•iised the tour and the otwlngwofk ofthe company. The frjll school took part In a wind serfe5 of onmne masterclasses with Nidu5try profe5sknnds whl¢h include(l Ke41n Dlrector of the Royal BalleL •nd mler Pe¢l ballerkna ¥thh the New York City B•lleL Phlllp Feeney's composltion ft>r Northern Ballees prLThluulon of Cathy Mar5ton's VIctorlo￿n ihe South Bank Sky Arts d￿ce award. stydent*wort rln8 the year Central provlded Mudents with É227.798 tsf financial support1£255.358 20191201 in theform of cash bursarles and fee xholarships. This enables talented studentsto jtyn Central andlor (￿lInuetheir stud*s. £108,447 of the support fvndln8that Central dithbuted was 8enerated through 8enerou5 dcmatbn5 received from trusts. foundations and indfvldua15 by the Development department; £35,426 was dlstrlbuted from higher rote fee income IHFII Is part of our Access and Participatlon Plan IAPPI cornmltment vAthln the CDD and Hiqher Education framewort and £11,804 vfa5 made available bythe oifKe for Students lots) CDD to support hardship due to Covld. Further spends under the APP to ensu￿ *c255 prOgreS￿n. 5￿cesS and to prevent hardshlp mer additional need. Central was able to deliver support to students In exces5 of the requiremeftts of the APP. The Identtfied targets of the APP arÈ those groups underrepresentÈd wrthin Central's student pOpUlat￿n$. those from low incomt backgrounds, those from blacl brown and mlnorlty ethnlc familles. those from low partlcipation ne¥hb)urknod5 and those wlth disthlitie5. Junlor and Ass•¢l4te s¢1￿01 Assoclate Sthool numbers remained constant throu8hovt 202Ck2021 thov8h the prtyamrw* wa5 delivered online lor rnuth of the academi¢ year. yrrith students lolnin8 onsr(e Cl￿e5 after the move to Wessex Studi05 In June 21. Unfortunately. this VRS not the case for junior khwl where numbers online droFped to half of expttted attendees on$￿e prtr Covld. A lull programme of regular a¢tfvlty was delivered online fOrtheA$￿tIate PrograrnTh*throu8hout 2020-2021 includin8 the annual Inductlon Day whith included WOr￿hOp for parents and studerrts about mindfulne55. The H￿er Ed￿atiOn talk for parents and students went ahead as scheduled includin8 contributlons from turrent undergraduates were also As50Ciate scho￿ students prior to the degree pro8ranNne. Thls yearthe Creative Choreoyapkry Day wa5 detr4ered by Alexan* Vthitlty and hi5 company. wlK>spe(ialise in d18￿ ChoreO￿aphy. The Associate khcd audltlons was the first to be held in the W*s5tt Studios with over ninety #udeftts audltlonln8 for entry in September 2021. A ￿1{ht detrea5e from w￿￿)￿$ years but in an ÈKceptional year. the numbwswere a Very step fotward on the road to'normalit¢. THE CENTRALSCHOOL oF8ALLETaw￿ABLETRU5r UMITEO (the (A cornpany llmitsd bY￿a￿nte•l REPORT OFThE BOARD OF GOVERPIORS {(on16nued FOR THEYEAR ENDED 31 JULY2021 Danc• Day5 ¥nd Cowses Due to travel restrittions imposed by Covid, no D¥te Day5 t4¥ere deltvered in 2020-2021 ￿)W￿*r a fvll prcrffamme of cou¥se5 was ddlvered throu8hgut the year durlng haff terms and durin8 the Easter and Summer breaks. Addltional classes in muslcality led by one of Centrafs pianists was delwered as part of thè Au(litlon Prepa￿tIOn for 14-16 year olds and thSs was very well recelved and found to be enorrrously beneficial towards thÈ students. ballet trainln& Fears that youn8 people were suffering from'zoom fatwje, Pfoved to not be thecase in Februaryhalf-temwknenwe rttd¥ed a ￿0rd Mrnbwofyoun8 peoplepartWpatin8on theonllnecour De15vering onllne dld also allow the department to rrn>dd new ways of monltorSn8 and Lwaluatln8 the wccess of pro8ramme5 and the personal Interactlon. in many Wa￿ b¢¢ame elen richer. A new pro8ramme was trtalled,'OonceAround the Woflrf, whl¢h 8ave youn8 people of all abllftle5 to try many danowres from dlfferent CUl￿re5 whkh they may r￿t have experienced before. The annual Boys Move. a day ofdance classes for bv•lkn￿1e tutors. took pl￿e. agaln onllne. durfrothe summer term. Many of the attendee5 were new to Central Schod 018allth. TheWn8 coursewasde1￿ered onlin* ¥thi15tthe &JmmerCOu￿e. duetothtchanp In lock¢h)wn restrlrtlon4 was ableto be delfvwed both onllne and lor those able to trwel, there were in-person courses held ai the nèw premises in Wes5e¥ Studlos. All progranynes were very well retelved and formats induded an end of Coufses pethmarv for parentsand frlends. dan7￿ Partklp•tlon •nd ￿lItt C•ntr•lJolrt As part of Central's outreach attfvltles. two onllne ballèt workshops were delt¥er•d to support Ballet Centr•f5 perfomiano of The Nuttrzcker durfng Decernbef. The workshops were almed at 4-7 years and xcompany1￿ the hour-long creative class wa5 a resource pack of artmtles. Partidpants were also offered dlscounted tlckets to watch the onllne 8allet Centr>l performance. The Wldenln8 Partlclpatlon department C￿tInued to ddlver thelr sernlnar on 'work5hop skills. J5 part of the tralnlng for the third*ear degre¢ students to 8lvt them an understandin8 ol th* safe8uar(1Sn8 and IndU￿ve iexhing practkes r￿ceSsary when work(n8 With children. r4•w Inlllatlves ITr 2020ft021 To ¢ontlnue to att¢￿t further onlSne particlpatkn, the sthool desiqned a Truikl your owrf bèljet course for 8-10 years and 11-13 years whlch allows partlclpantsto plck and thoose th•'r own preferred darte genre5. Thls Was vwy successful wasvery well attended. Cenlr•l •nd C•ntrnl Central N*hts and Central Sunday5 ran on onty 3 Sundays thro￿hOut the ywdue to restthtlons an(1 the need to use studlo space for longer hours across more day5 of the week than prewou￿Y. R Is betn8 relaunched at Wessex Stvdlos in September 2021, and wlll provlde hundreds of r4ular partklpant5 and new attendw ￿th the opp)rtunlty to be tsu8ht bgllet lat o be8lnner, Interrnediate or advanced levdl. ContemporaryAfrkan Dance and Contemporwy. ThE CENTRALSQIOOL OF PAiLETCHARITA8LE TrusfuMtrED (A C¢¥n￿nY Ilrnikd byguarantee) REPOftTOF THE ÈOARD OF GOVEIINOAS (contIn￿d FOR THE YEAR ENDED 31 JULY 2021 Presld•nYs (trd• Central's Presldènt Circle led by Lathi Sieft helped the sclthl to succe5sfv1tytomplete the Countess ofWe$5ex Studlos for occwat In sumrw 2021. In addition mernbu5 of the Circlecontinueto support the sclth's re8ul¥ and operatlon Patrons Central's Patrons continue to SUPPLYt and offer ¢>wrt ad¥ke￿ Central's work The Governo￿ w￿) sekwed dUrI￿they*ar¥re on py l. Governors Jreappolnted Kc¢Ydlruto thè Memorandum and Art1(￿5 oIAssodatk*n and mty be nominated by existln8 Go¥err￿￿s. Subsldlary uNl*rt**l The Charlty ha5 a wholty owned trad1￿ subsldlary. 8•llet Central Umlted. whkth dld w trade durln8 the year as Its act￿ltIeS were Incorporated wlthln Central. Fln•ncl•l r•¥1 Ccvid 19 and bckdown COn￿n￿l to have a 4gnlfiunt irrwt on Centr*s acdvtyforyear ended 31 Juty 2021, redu¢lr* both nonwHE Income and Increaslryd the costs of teachlng HE bvmnd budgeted levels. The flnarKlal year ended a sm•ll wrplus of £19,658 on the usual operatln8 artivities of the xhool12019120 £132401. The cost otthe projert I￿rk durfngthe year was £2.972,SN)5 (expènsed and drawn from spec5fk restrf¢ted fvnds brought forward from prlor years plus ihe yea15 fundraised Incomel, of whkh £2.625373 was capttalised and £3￿,255 depredatlon and amrtSsatbn expensed. There was an addltional Kcountirq Impact of £133.286 In ts)tional rent related to the new bulldln8 lease Idue to tht agreed rent-free period havln8to be spread o¥erthe life ofthe lease In nseThatolre for Dant• and a H￿eT EdUcat￿n In5tttvte of schoots dedicated to educatk*n in the lields of dance, drama and Cir￿5. Central is seekin8 self-reglstratlon as an independent hl8her education provlder wlth the OfFi¢e for Students frorn l Avgust 2022. Due to the fact that all the mwnberschoojs have dedded to seek altÈmatNeoovernance paths. plans have now been 38reed and conffimed through a new Members ￿¢ement and Re¥Lsed Articles of AS￿￿latiOn. for the dlssolution of CDD after the departure of the members in 2022. or a year later. rf any rnember needs mrè time to confirn) self-reglstration or alteinatwe sub-contract arrangements. Cer)tral of Bal￿ 15 artwely workln6 t*rith CDD a￿1 the other MÈmber Schools on progres5in6 these arrangements and faDlitsting the smooth tran5ilion of ali CDD enrolled students to thelr alternative school reglstration. {A company limitèd bYW¥￿￿teeI CORPORATE GOVERNANCE sfATEMENT FOR THE YEAR ENDED 31 JULY 2021 The ￿erntsrs of the Centrol School of Ballet Chwitable Tnlst Lhrfted are Comnwtted to exhlbMnÉ best prrth In all aspects of Corporate Governance. The Sthool endeavours to conduct its business In accordance ￿th the se¥en pthlpleg bdentiffied by the Commlttee ort Stsndards In Public Life {selfle55ne￿ iffle8rity. objecti¥lty, accountabil￿. openness, honesty and Wershipl and wlth the guldance to instltutlons of hiBher education from the Comrnittee of Llnl¥erslty Chain in its GuSde for Membws of HE Govemln6 Bodle5 In the UK. Central khool of 8all* ¢omplies the requlrements of the Fundratslng Regu￿t01. IncluthnB tsk1￿ steps to safeguard vulnernble indlvlduals. No complalnts have been recel¥ed duiln8 the year. and Idn￿nIStr￿1on The School 55 established as a charltabl• ¢oftw•ry Nrnlted by 8uarantee and ts re6lstered as a tharlty wlth the Charlty Comrnlsslon. It has no Issued share capital and the Ilabilityof its membefs in the e4entofthecompanybe1￿W0UTrd up Is Ilmltedtoa sum notexceedln8 £1, The khoDI's affalrs are governed by rts Memorandum and Artlde5 of A55￿14t00n whkh allow for any xtNIUe5 covered by the ¢harWs objectlves wlth no spe¢lfl¢ reStrKtIor￿. The company is a Close company as defined by thè provLsh)n5 of the Income Ind Corpor*lon Taxes Act 1988. As a charlty. Ir Is exernpt from tax on it5 ch¥tsblt activ6tles. Therè hK bten ￿thar￿ In th1$ resm51rKe the end of the flnarKlal year. Gvrtrn•n¢e The S¢hog115 3dmln05tered thrthqh Its ￿¥￿rnIn0 boty, the Board of Govemors. The Boaryl meets regvlarly to dls¢us$ and formulate pdicy whlrh15 then Implemented bythe Principaland executr4eieam. Membersof the Board of Governorsare ap￿Inted In &cordance wlth thecompanvs Articlesof Association, S￿n8 forone perkid of three years renewable lor 4 lurther two termsof three years each. Durln8the perh)d of the pioiect, the Board of G(wernLVS h3staken the de(Islonto ￿end beyond a termof 9yearsthecrltlcal member5 of the 8oard, to be revlewed after compleWon ofthe prolrfL Wlth the capttal proJe¢t concludln& tho Executfve Dlre¢tor •nd the ￿eTh￿leratIOnS Non￿natIonS Committee •re due to beon a redrement and rffruitment plan of Board Members, KknOwled81￿ the success and contr11￿onS of longer servln8 members of the Board as they step down, and brIn￿nI In newTrustees approwlate kno¥Ae* and sklbto support Cwrtral In Its next step5. The Board has three requi￿te yJb-committe¢s.' • finance committeè. an audlt committee, and a remneratlon and nomlnatlons committee. From timeto timethe Board estab105hes other ad hot tommittees or *L)rWn8 youp5 tt> addTe5s spe¢ifi¢ strateglc matters. A prolett steering committee drawn entirely from the Board tY￿bershIP was a8aln in Opera￿0￿ dufln8 the year and wlll contjnue Into 2020121. The remlt of the prolett steerin8 committee is to provtde addldonal expertise and guldonce In supporting both the Executlve and the full Board of Govemor5 in pro8ressln8 the Wessex Stud105 bulldin8 projett and sustalnablllty strate8y. P￿￿1P11 The Princlpal of the School is appolnted tythe Board of Goverrwsand ha5a 8eneral re5ponslblllryforensurlngthat all publlcfunds we properly applied to the Schoofs actlvltles. Internal cothtrol rlsk mwn•ymerrt The Board ha5 T￿ponsIbIlity for maintaining a sound system of intwnal ¢ontrol that supports the ￿h￿ement of the Sthool's pollcies, alms and obiertlves, ¥thile safeBuardin8 public and othLY fvnd5 and assets for whkh it Is rèswnslble. The system of Internal control Sncorwrates risk management and this encornpasses a numbèr of 5trand5 desl8ned to Identify and evaluate the rfsks f&ed by the Schthjl and to put in place an attbon plan to addres5and nNtytethe IW of those rtsks. The School has robust pollciès and prrxedures In plxe. as required lry the eoard of (knmors. and these are developed by the senior rnana8ement team and communicatrd to s¢aff. A rtsk managemwt kK)licy and risk re&￿ter ale in pl￿e and both the FKJllcy and register contlnue to be kept undtr frequent re¥le*. In additK>n, a separate a￿1 speafi¢ project r￿k register b akn In place, developed to underpln the rlsks ¥so¢iated ￿th the new bulld1￿ and rdocatlon.projett. R￿kS that have be￿ identifled by staff member5 are reported up through to the swlor management team. which In tum Y￿eWS risks, de¥eknps mrtFgattn8 strategies and timèly actton plans. The risk reglstefs and asS￿l3ted monfjroring plans are then re8ularty reviewed by the khool's committees whlch in turn report to the Boardforfurther rb5k management r*￿*W&T1￿)Se r15ksdeeml to be the rTh)Sts￿ffj￿ant being keptunder review by the Board of ¢kJvemors dirertty. io THE CENTRALSOIOtX OF BALLET CHARITAeiE TRusfuMITEO IA cOm￿nY Ilrnltsd byguaranteel CIXPORATE GOVERNANCE sfATEME1￿ l(4Mth FOR ThEYEAR ENDED 31JJLY 2021 Key rlsks f&ingthe khool Indude the cwtn8 Impact gf Covkl 19. cuts in Highw fundi￿ In¢l￿1n& performlng arts tourses and London weS8httn& any future reductlon Trn UK 5tydentfees, EU students105ing homelee status as the UK has left the EU, UKVI and Ofs compliance wlth a small staff team, and managlng the Or8antsat￿rt.$ adaptation to new premise5 and activhles. To address the risk ofreduced funds. theschool has been focuslngeffortsonthe newpremi5es, on erovAngexistin8 programmesand expkiringand pllotinB new ont5, and (knlopln8 new non-HiEher Ed￿atIon Income SI￿arn5. Any reduciion in student numbers from the UK or from ovtr5eas and a tontinued reduction In EU stltdents remalns a and brO￿lenIn& Student re¢ruitrnent and ensurfn8 retention of student5 has been partof the sustainabillty strate8y. The moveto ne•J, larger and purpose*uilt premises supportsthe development of new income 8eneratin8 activitiès a5 wdl as the ablllty to ¥￿pt a lar8er number of students and particlpants on the h4gheredu&)tion pro8rammes and other dan¢* programmes. and 8fves staff better wJrkln8 condltlons. The addrtiond challery and kof risk In 20201211s 8eneratlftg tht remalnlr4 capltal fvndlnE to repaythe loan5 made for the flt out of the We53ex Studios. The support ol Southwark Countil and theArts Impart Fund brought both flnarKl•l support and wlder partnership benefits, with Southwark CourKII hwin8 namtd Central In rts Culbjral Strategy for the bofou8h. 80th as%)cladons have a$5151ed wlth furtherfundro151n& and Central is8rateful to the indfvlduats and trusts who have also supported the capltal campa*n and enabled the move. Another challen8e Is to attrxl •nd malntsln trust and indl¥Klual fUnd{r￿ and supm to dellver on the re4Tenue Income target T•thkh form5 part of the core oper•tln8 budget now that ihe ¢aprf¢al carnpal8n reathes completlon. The Sth¢x>l arKI Board of Govèrnors wlll contlnue to Invest ie5ources to ensure that Central an take full advantage of 0pwrtUn￿S whlle mana8lre attendant rtsk The Board of Governors is responslble for reviewin8 the effetti¥eness of Intlmd control of the Sthool, based on Informatlon provlded by the senlor management team. and intemal and erteml aud110￿. li THE CEfmALSC•IOOL OF BALL￿ OlA￿A￿TRUSfUMI1£o (A Company limited byDMrdnteel STATEMENT OF REsPO￿limEs OFTHE BOARD OF GOVERN FOR THE YEAR ENDED 31 JULY 2021 The Governors a￿ rtspon51ble lor keeplng properaccounVn8 recordswthlth dlsd05e with reasonable acturatyatany time the flnancial pO￿tIon of the s¢hts￿ and to enable them to enyjrè th* the financial statemEnts are prepared in ￿tordanCe wth the Ststement of Rttommend&l Pr*tlce on Accountit4 in Hlgher Ed￿atIOn knsthutkn$ and other reknnt a(roun￿r￿ starkYard5. In addltlon, wlthln the terms and condMon5 Ot the fundin8 88reemert the Office for Students, the GovenM>rs are required to prepare financlal statements for each flnandal perlod whlth 8Ne ? true and fair wewof the state of affalTs of the conN>any and of the surplus or deflctt for that perKMI. In preparln8 those ffinandal swments. the Governors are requlred to.. select the most approprtate accountln8 p)Ildes and apwnt an audlt committee to monltor thelr knplementstion, apply them con515tently and dlsclose ihem ade4uatefy: makeludÈements e5dmat•s that are reasonable and pNdrt" state whether approprlate Kcoun￿￿ standards been folky￿. Sub)￿t to any m*erlal departures dsdosed and explalned In ihe financlal staternents. prepèrethe flnJwKlal ststements on the 8dnBcown b•54 ￿lesS St15 Inappropr6•teto presume that the company wlll contknue In buslne55. The GoverrK*rs havetaken reasonable steps to.. ensure that funds from the Office lor Students and Re5ear(h Ereland are used onty for the purposes for whlch tly have been Iven and any other condttlons whkh the Fundi￿ Coundls rrw from ttme to tlme preSCTlbe.' ensure that there ￿ appropriate flnantlal and m•na8ement (ontrols In pl4¢e to 5afryuard publk funds and funds from other sources,. safeguard the •ss•ts ofthe khool and to pment and detect fraud: se¢ure the rfonomlcal, efflclent and effec￿ m•)a8ementof the Schoofs rewurces and expendlbjre. The Governor5 also conflrm that have made all nects5ary e￿uIreS and taken such steps that thty ought to, to enslwe that thry become aware of any relevarit audit Informathy) and that they conf*m that the companrfs audttors have been made aware of such informatS0n. Aydltors A re￿lutIOn proposln8 the re4ppolntrwrt of Mazars as a￿lItOrSWas mode atth*Annual General Meetfjn& Sl8ned for and on behalf of the Board of Governors on Ralph Bernard Chairman INDEPENDENfAUDifoRY REPQRTTOThE MEMBERS FOR THE YEAR ENDED 31JULY2021 Oplnoon We have aud￿ the flnandal statemenis ofTh Central of ￿llet CharitableTn4# ltthesthoofi forthe year ended 31 Juty 2021 whlch CoMp￿se the lrtome and ExpendrtureAccounL the Balance ￿eeL Statement of Cash Flows and notes to the flnanclal statements. The financial rebx)rtlng fra￿￿wOrk that has been applied in their preparat￿n ￿ apylKable law and Unlted Klngdom Accounting Standards, irKluding FRS 102 Ihe Financial Reportlrq Standard App1kab￿ In the UK and Republk of Ireland" (United Klngdom Generally Accepted Accounting PrKticel. In our OpIn￿n, thefinanclal statemen efve a tru* and falr vlew of the stats of theschool's affalrs as at 31 Juty 2021 and of the Sthool'$ Iwime and expendlture, galns ?nd105se5. changes In reseryes and cash flows for the yearthen ended,. have been properly prepared In Kcordancewith Untied Kiredom Generally Accepted Ac¢ountlnÉ fv•cllc*: and have been prepared in ￿CordanCe wtth the reqUIrw￿ts ofthe *Jtementof Recommended PTrclice-Accountln8 for Further and H18her Educa￿0￿. B•sLJ tr Wr We Conducted our audlt In accordance wtth International Standards on A￿lIE1￿ IUKI ILSIS IUKII and applkable law. Oui respon55ts11Stles under those stsndards are further descdbed In the Audltorfs responlb11116esfor the audit of the financl815tatements sectlon of our report. We are Independent of the School In accordance wlth the ethlcal requlrements that are relevant to our audr( of the flnanclal statements In the UK Includlng the FRCS Ethlcal Standard •nd we h￿t fulfilled Our Other ethlcal responsibl1￿leS In accordance wlth these requlrements. We belleve thatthe audlt **lderKe we have obtalned Is suff￿lent and appropriate to provlde a basls for our cplnlon. Conduslom r•l•tlNts •okni c•nc•m In audStln8 the flnanclal statements, we have concluded thltthe 8o¥d of Governorf use of the 8DlnK concern basls of accountbn8 In Ihe preparation of the flnancial statements Is approprlate. Based on the work we have performed. we have not Identlfied any materlal uncertalntles relatlngto events or COnd￿lOn5 thai, Indivlduolly or collectively, may last S￿nIficant doubt on the Sthool'5 ablllty to contlnue a5 a go6ng concem for a perlod of at least efve month5 from when the fina￿la1 statements are authorlsed for L$5ue. Ouf responslbSlltle5 and the responslbllltle5 of the Board of Gcrtern￿ wfth respectto 8oln8 concern are de5crlbed In the relevant se£tkins of thls reporL InfOrMa￿On The Board of Govemofs Is feswinslble for the other Informathn. The other InfOrn￿tIOn comprises the Inforfflatbn Induded In the Annual Report, other than the financial si*ements and our audltorfs report thereon. ChJ"r opinion on the ffinznclal staternents doe5 not cover the other Infomiauon and, oxceo to the extent Other￿ eXpI￿ltIV statÈd in our report we do not express any form of assurance conclu51on thereon. In connettlon our audit ofthe finandal ststermnts, our rtsponsibilrty bto read the other Informatton aNI, In doln8 so, wnslder whèther the other informatK)n Ys maièrialfy ir*on￿stent with the financial statements or our krthYled8e obtsined In the audlt or otherwSse appe4r5 lo be materizlly mi55tated. If we identlfy such materlal Inconslstencles or apparent materlal misstatements, we are required to determine whether the￿ is a matthal mlsstatemwrt In the flnanclal statements or a materlal misstatement of the other Information. 11, based on the work ￿ have perforrned, we CO￿lude that there Is a material mlsstat•iient of this other Informatton. we are requlred to report that facL We have nothln8 to report In thls regard. INDEPENOENT AuoifoAs' REPORTTOThE MEMBERS FOR ThE YEAR EP4)ED JIAILY 2021 OF THE CENTRAL SCHOOL OF 8AiLET CHARITA￿ TRusf UMITED As explalned more fvlly in the Ststement of Responsrimlities ofthe Board of fknernots set out on p4e 12. the Èo¥d of GoverThJrs are responslble for the preparation of the finan¢ial Statem￿ and for bein8 Satislled that they glve a true and falr vlew, and for such Internal control a5 they deterniSne b newry to enab￿ the preparation of financi￿ statements that are free frorn material mlsstatemenL whethef due to fraud or effor. In preparlng the financial statements the P*)ard of Govemots are respl￿5{ble for ass*wng the *h￿)r5 abilrty to contlnue as a golng toncern, disclosln& as aPp1ka￿t. rn?tters rdated to 8oin8 c¢)ncern and uslnB the 8oirq cortcern basis of account5n8 unless the Board ofGovernors elther Intend to Ilquidate all or part ofthe Sthool or to operat¥>ns. or have no w11￿C a￿erna￿￿ but to do so. Our oblertNes are to obtaln reaSona￿e aSsUra￿e abo￿ whether the ftnanoal 5tsteff*nts as a whole are free from materlal ml55tatement, whethw due to fraud or error, and to ityJ* an wditorfs reportthat includes our oplnlon. Reaxjnèble assurance Is a hl8h level of assurance, but Is not a guarantee that an Judit conducted In accordance wjth 15As IUKI wlll always detètt a material mlsstatement when Itext5ts. m155taten￿nts can adse Ir¢)m fraud oreNoiand arecon51dered materfal If. Indlvlduallyorln the a88ie8at they could reasonably be expected to Inffiuence th* ￿0￿MI( decblons of users taken on thè basls of these financial 5tstements. Irregularl￿e$, Includlrrf fraud, are instance5 of nortrcompfian¢¢ laws and r¥u1*h)r￿. We des*n procedures In 1Sne wlth our responslblllties, outllned above, to detert materlal mlsStat*m￿ts In respect of Irre8ularitles, Includln8 fraud. Based on our under5tsndin8 of the 5th001 and its operatknns. Ideniffled that the prlnclpal r15k5 of ￿n￿cOMpl￿an£t wlth law5 and regulations related to the Ots requliements, UK tax le8islailon, pènslons ￿slatIOn, employment re8ulat6on and htath and safety reBulatSon, antl- brlbery. corruptlon and fraud. money launderln& n0ftn have been applied in atcord4nce the relevant terms and conditions; and the Tequlrements ofthe 0ts'5 accounts dlrectlon have been met. M•tlerJ on whkh we art Yequlred to repry¢ We have nothln8to report in respert of the followlng matters In relation to which the Ots Audlt of Practke requlres us to report to you if, In our oplnkn: the providerf$ 8rant #rnl fee irKome. as dlsdosed In the notestothe xcovnts, Is rn*erlally mSsstattd. Use oltho *udlt r•pNI This report Is made solely to th• Govemlni a5 a bo(ty Sn ￿(ordance wlih para8raph 4121 of the School's artlcles and Its Schedule of Bye-Laws and the Govefnln8 Bod¢s Statement of Prlmary Responslbilitles. Our audii W￿rk has been undertaken so that we mlght state to the Gowning Body those motter5 we are requlred to Mate to them In an audltorfs rewrt and for no other purpose. To the fvllest extent perrnltted by law. we do not Kcept or assume responsibilhy to •tyone other than the khool arrfl the Govemln8 Body* a body, for our 3udit W￿rk, for thls report, or for the ownioi)s we have lormed. SIBned.. Mazars LLP Chartered ACco￿tants and 514tutory Audrior 6 sutton Plaza, Sutton C￿rt Ro￿, Sutton, s￿rre¥ SMI 4FS Date.. 30 October 2021 IA Ilmh•d b¥8￿rant••1 INCOME AND EXPENOMJREJCCOUP FOR ThE YEAR ENDED 31JULY2021 Totsl 2011 Totsi Funds Funds Fynd5 Income Funding Council grants Teachln8$rant Other grants Government 8rants Turtion fees & educatlon contratts Other income Investment Ir￿oMe 388￿00 104,095 33.837 1.690.086 71.ln 11.8ts1 4LKS.304 104.Cv35 33A37 I,f>90.086 1,643,427 289,891 91.112 64,994 1.635.399 lJ77,634 16,176 L628288 177 156.0331 T•tsl Inom• 2.289,399 1.640.269 156.0331 3,873,635 3,975.2Cfj Exp•ndllur• Staff Costs Oper8tln8 expenses Depreclatlon 1.663,998 742.039 23,9)) 474.747 271,109 1,687,898 1,216,786 31x1,557 1,488,570 1,091,259 145,626 li Totsl Expendture 2.435,485 769,7 3.205,241 725,455 surp1￿/10e1k[tj on contthulr 1146,0861 870513 {56,0331 668.394 1,249.751 Taxatlon 165,744 165,744 Tr•nsfeT between funds 539,423 1539.4231 rplw on c0nllnu1￿ opet•thM 19.658 1.4(VJ.936 1595.4561 834.138 L249,751 Retalned reserves browht forward 894375 I￿lL113 1.134.879 3W2,367 2,592,616 Retsined reseryes carried forw¥d £916.033 £3,221.049 £539,423 £4,676,505 £3.842,367 All ofthe ibove re5utts are derlved from Continui￿ aC1Mt￿s. AJI la1￿ and h)sses rwnlsed In the year are Included above. In the prewous year, the total I￿ome Irom unrestrkted funds was £2.211.385 from restrirted fvnds was £628,942 and from endowment funds wa5 £1.134.879. Total expendi￿re in tht y•ar from unrestyitted funds wag £1197,965, fiom restrlcted funds was £527.490 and from endowment funds wzs O. Except6tsnal tosts In th15 year and the prev*￿$ ￿n￿CIal year are explalned in the financlal re4le#notes on pa8e 8. The notes on pages ty 10 28 form part of ihese finan¢lal statem￿. 16 THE CENTRALSCHOOL OF eALLEf CHAAITABIE TRusf UMITED IA ¢ompany Ilmltsd by 8uardnts•) BAL4NCE SHEEr ASAT 31JULY2021 Hmed A53ets Tan8bi le assets Investments li 16,27&042 13,826,148 16,276,142 13,826.248 Stock Debtor5 Cash at bank and In hand 13 14 3.281 127.663 2.444,909 4.486 1,235,780 4.359,731 2575.853 5,599,997 Credlton.. amounts hllinBdu• wlthln •ne y•ar IL482,8841 11,276,955) L092,969 4,323,042 Totsl Auets IE59 Currnnt Ll•blMU 17,369.111 18,149,290 Cyedltors: •mountsfallnidue irul•r ThAn on• ywr 16 112.692.fthl 114,306,923) £4.676,505 £3,842,367 Represented bv.. Unrestricted funds Genèral funds Oesi8nated fund 17 17 916,034 896,375 916,034 3,221,049 539,422 896,375 1,811,113 1,134,879 Restrkted funds Endowment fund5 17 18 £4.676505 £3,842.367 The financial statements wwe apwoved aNI authorw for Issue tythe Board OfG0ven￿ on Jo Oclkn 2021 and were slgned below on Its behalf by.. Ralph Bernard Cthalrrnan of the Bowd ofTru5tees M** Oslerfield Principal The notes on pageg ￿ 10 27 fomi part oftheseltnanctal statemerrt 17 THE CEPllRALSCHOOL OF BALLET CHARITA￿ TRUSTUMITED No. 1657n7 IA Coffi￿ Ilmlled by8u•r•ntse) srATEMEpifoF CASH FLO AS AT31 JULY2021 2021 2020 833.741 4.510,744 Interest Income pu￿haSeOf tan&ble fixed assets 1.886 12.750,4491 16.176 14,598,539) Cash (wed In) 12,748,563) 14y2,3631 Itlww•) In cuh •nd cath •gufv•l#nts In the 11.914,8221 (71,6191 Cash and cash equlvalents at the be8lnnlryaof the year 4,359,731 4,431,350 TOTAL CASH A14D CASH EQUIVALEpllsATThE END QFTHEYEAR £2,444.909 £4,359,731 CENTRALSOIOOL OF 8ALiET OIARITABlETRU￿Um[rED (A ¢ompan¥ lirnrled by8war¥ntee) NOTESTO TrIE FINANaAL STATEMEf4TS A)R THEYEAR TO 31JULY 1021 G•ner•l Inlom Central Sthool of Ballet Charitable Trust Ltd Is intorporated in E￿artd and Walts asa swlvatè tornpany limited by guarantee (No. 16577171 and Is a regLstered d￿rity INO. 2853981. The charltable company's wlstered offlce15: The Counte$5 of Wessex Studlos. 21122 Ha￿￿Id$. Parls Garden. London SEI 8DJ. Accountlni polld•s 11 Basls of pr•paAtl¢)n The fina￿al statements have been prepared underthe hlstorkal ¢05t ¢onvenllon In x¢ordonce with the r￿Sed Statement of Recommended Prartlce.. kcountin8 for Further Hvdher Education. t$5ued in March 2014 and Flnanclal Reporting Stsndard 102, the Flnanci* fteportin8&andard applKable In the United Kirydom the Republk of Ireland and the Companies Act 2CQ6. The prtparatlon of flnanclal statements in compllance with FRS102 requlre5 the useof c•rtaln crltk41 x¢ountln8 e5tlmates. also requlres rnanz8ement to exerdselud8ement In app￿In8 the Comp3nVs accountln8 pollde5. 2.2 Incon Income from tuftlon fw5 15 Teco8nbed on a rKefvable bxts. Fees Tecehable are stated before deLluctln8 allowances. scholarshlps and other remlsslons yanted by the Irom Its unrestrkted fund5 but Include contrfbutlons recelved from restrlcted funds and txher 8rwts. Income rttelvable from the Office for Students IOFSI and Rtt¢orch En8lartd the Conserv•wlre foi Dince Ind Drama ICDDI1s recogn15ed In Ilne wlth the ktest estlmate of grant rec•vable for an academlc year. Other Income Is also reco8nlsed on a rttelvab￿ basls. Donauons are Teco8nthl when the amount recelvable Is commltted durlng the accountln8 year and recelved before the ￿COUnts are slgned. Expmdhw• Expendlture Is Included on an accruals tsa$￿, Indusl¥eof any lfftt0Verab￿ VAT. 2.4 Ta￿11￿• Ilx•d •u•ts Tan8ible fixed assets costln8 rrv)re than £5CQ ire capltallsed and Included In the fIna￿la1 statements at cost. Depreciation Is provkl•d at rates calculated io wriie off excess of costs estlmated reshlual amounts wenly over the estimated e¢onoml¢ Ilves of each dassol asset. These rates are as follows: Plant and M￿h(￿ery 25% strai8ht line Flrtures and rrttynes 25% strai8ht line Premises lease ￿th Oi5counted valu* of lease pl￿￿ents over the leage term. opltolised and amortised rent-free perlod over the leoge term with the dixount fa¢¢orof 3% las determined by the Tru51ees1 Premlsesflt-OUt- structure StraSght line over the lease terrn Premlses flt-OUt- other Stralght Ilne over pwlods of 10- 30 years for dwferentcomponents 2.5 operats￿ and Flnanc•l••s•s Rentals payable are char8ed on a time basis ￿￿rthe leasetem. There ¥e no assets held under finarte lease> 2ffj sd￿01 UDIF The Sthool'5 Stock of uniforrn rtem5 i5carriedatthe lowerof c95tznd net reali5aWe value. 2.7 Fund Accoun￿nI Gentrulfvnds are unrestricted funds which are available for use at the discrerlon of the trustees in furthernnce of the gEneral objEctive5 of the School and which have not been deS￿nated for other wrposes. Des￿n￿tedfU1k￿s?le thosefundswhkh have been desl8nated bytheGovemwstsu5eonspedflc prolectsvAthlntheobje¢Dves of the School. Re5trfrtedfvnds are 5ubiert to $pKI￿ condrlb)n5 by th)r￿S 45to how they be used. Endowmentfvnds are those fundswherethe do1￿ha$SPenfie￿ that the ￿tal Is retalned In perpetulty. 19 THE CENTRAL SOIOOL OF 8ALLEfCHAR￿ABlETftu￿UmlrED {Acompany Hmltod by#u•tsel NOTES TO niE FINANOAL $fATEME￿5 {cothinuedl FOR THE YEAR T031JULY 2021 2A Pemlons The ¢hafitabie compary operated a defined contrilxthn p￿slon plan for its aWtyee5 in ￿(ordance wlth UK 8overnment workplace pertskjn obllgatlon> A defined Contribu￿0Th plan 15 a pension plan vndw thith the charitable company pays fixeil ¢ontributlons to a separare errtity. Once contrlbutions have been paid the charitsblt company has no fvrther payment obllgatlons. The c0ntdbU￿ns are re¢oÈnlsed as anexperue In th* Ir￿rne& Expendlture*%count wthen fall due. Affv)unts not paid are shown In accruals as a Ioability In the balarK¢ she*t The amounts paid wrto the plan are hdd separatety from the tharltable company In independentty administered fvnd5. Ba￿t FIn•rte￿I IMtrun*nts The Charity only ￿)Id5 baslc flnjnclal Instruments. Thesè Instruments are initlally reco8nls•d at tran5aCtlon value and subsequently measured at amortlsed cost the exCep￿On of any InveStn￿nts which are held at falr vaue. Financlal assets held at amortlsed cost tt*mprfse cash at bank and in haNI. together wlth trade and other dthors. A sprfSflc provlsk)n Is made for debts forwhkh re¢overaWl*y Is in doubt. Cash •t bank and In hand rs defined as all cash held In Instant access bank accounts and used as Work1￿ capttal. Flnanclal Ilabllltles It an￿rtISed CO￿ corn￿)$* •ll (red￿ èwpt $0(lal securlty and other taxes and Pfovision& 2.10 Cr•kn and pr¢¥lsk+ns Credltors and provlslons ar• rec￿nISed where the dlwtyhasa present obllgation rewltlng from 8 past Lventth* wtll probab result In thetransferof fundsioa thlrd party•Kltheamount dueto setve the01￿11atIOn tan be measured ore5tlmated relSably. 2.11 Debt Short term debtors are rMagJred •ttrnnsact￿n prlc¢ Itss •wlrry•lrment. E5tSmates and ludgements ère (On￿nUalty evaluated ond are based on hb5torlcal experlent• and other factors, Indudlng expertatlons of fvture events that are beI￿Ved to be reasonable under the clrcumstances. Afthtyjgh these estlmates are based on rnana8ement's best knovAedge of the amunL events or actlons. attual re5utt5 may ultimattfy differ from those estSmate5. The dlrtttors ¢onlderthtfoll¢A¥ln8 ￿ern$t0 be ¥eas subjert to esiimatlon Jndfvd8ement. The useful e¢onornlc Ib￿S of tanglble ftxed assets are based on m4na8wnenVs jud8ement and expedence. When management Identifies that actual useful economlc Ilve5 differ matLYially from the es￿rnateS used to calculate depre¢lation, that charge Is adjusted retrospective￿. As tanglble fixed assets are not significant varlances betwwTr artual and estimated useful economlc Ilves wlll r￿t have a mattrf41 Impart on the operating re5ukk HIkor￿ty no changes has been requlred. FVNOING COUllaL GRANT5 20ZI OffKe For Students IvL4 the consef¥at￿fe for Dance •Kf Cknrr4 Teaching grants Other grants Research England Ivla the Conservatotre for DJwKe and Drama) Hi8her EdL*atlon Innovatlon Fund 4(KI.304 21.013 83.082 289.891 18.867 72,245 504,399 381.c￿3 All am¢Junts relateto unrestrirted funds In 2020 and 2021. THE CENTRAL SCHOOL OF BALLÉT ClIAR￿ABLE TRUST UMfTED IA ctxnpany Ilmlted by8u¥rant••} PIOTESTO THE HNANaAL ￿ATEmE14T5 FOR ThE YEAR TO YIJULY2021 Tumor4 FEES AND EDLICAIION Co1￿￿A￿S 2021 (herseas student fees Inetof schokr>lips aw¥ded of £69.7601 UK and EU student fees General Studlo hlre Auditlon fees Other 5efiior scho￿ fees WP programmes and events Ilndudlng spr1￿ and ￿MMerc￿￿$e$I Pfe-SenioT fees Jufilor fees Access to learnln8 funds and WPfvndl 757,210 769,596 630.400 786,307 6,877 6.895 24,548 42,418 51,765 26,319 9,475 24,129 43.848 60.932 57,713 9,745 1,690,086 1,635,399 AJI amounts relate to unrestrfaed funds kn 2020 and 2021. OThER INCOME 2021 Restrlcred ttndendowmentdonotions Bulldlng Development Fund Ball•1 Central Student 5UPPOrt Student 5UPPOrt-accrua15 Student and COUry￿ dellvery Chrtrexh 1,485.867 I3,8￿) 104,1 {56,0331 24331 370,713 10,162 124,329 1,134,879 6,750 li0,￿0 L572.255 1,756,833 Genernl Donatlon5 Evenlng Studto Hlre Other Unlform sales Ballet Central boxoffice 1,954 1,362 42,138 4,226 21,492 20,646 65.403 7.751 8,120 18,881 71.172 120,801 1.643,427 1,877,634 Closure of Herbal Hlll MaKh to Av8USt 2020 due to Cowd-19 govèrnment lockdown re5ulteil In prKJr year reduced Income for Pre-senlor and Junlor 5th001 in¢orw*. Widen1￿ Partlclpation tour5es and programr￿, Ballet Central box office Income and Studlo Hlre. The SLKlal dLstanun8 requirement in studlos from September 2020 to July 2021 due to government reStr￿lOn$ resulted In Hlgher Education ¢our5es be6n8 tsught In smaller youp5. whkh had an impart on 5twllo space avallable for Pre- Setslor and Junlor t￿r$e5 Ivthlch contlnued onlinel. and on theatre capxity whlch reduced Ballet Central Income. INVESTMEP4T INCOMF 2021 Intèrest reteivablè Genernl Interest receivable 177 6.988 9,188 16.176 21 ThE CENTRAL SCHOOL OF (HAR￿ABLETRUsr UMITED (A cornp•mi llmlted bywaranteel IIOTES TO niE F114AIKIALSTATEMEIITS I￿n￿oI FOR THE YEAR TO31 JULY 2011 EMPLOYEE & FREEiAPICE STAFF INFORMATION 2020 Salaries {includin8 freelance staffj Social securltytosts (employed staffj Pension ContrIbu￿On$ (employed staffj I￿37.301 116,f32 33,B65 L349,694 106.747 32,129 1,687,898 1,488,570 All amounts relote to unrestrtrted funds kn 2020 arrfl 2021. The avera8e rnonthty number of emF4oyees and sell-empknyed staff durfnlthe year was made up as folbws.. Nymber b•r Full tlme Regular parttlme 22 45 23 45 The 5taffln8 decrease was due tothe Head of senk￿School leavlnÉ nmd-year but not belng reP￿ted untll late 2021. The Key Managementsalaries cornpilse the Senlor Man4ement Teamthat number 8 in total lfvll-time equivalentl, and their total salary, benefits and empbyef n*h)nal Insuran¢e ¢ontributlons were £526.997 12020.. £421,478). Total emoluments payable to the wlndpal In the year anK)unted to £102,72812020: £84,C¥J91 plus peTr5￿n contrSbutlons of £3,OCQ12020: £4,734). 2 further ffiwknyees recebved ￿nUal eMdurr￿ftts knxalllng betweeh £70,OO¢M8O.0(￿(202O.. 1 between £￿,0￿70,(m))l. The totsl ar￿Unts pald In settkments was £012020: £01. None ofthe Govemors re¢elved any r¢muneratkJn In respect of their roles35trurtees. Underthe¢haritV5 Memor￿duM and ar￿CleS. remuneratlon for work undertaken In a capatity other than trustee Is pem)ltted. Durlre the year, trustee Carole Gable was remuner*ed for her lo￿ as Artlrtic OAl¥15ef -Gable Repertolre £12,C(O1202tr. £37,580). Expenses to Governor5 relmburseil durin8theyeartotalled £012020.. £01. Dowk¥n5 totaNln8 £S6.099 ¥vere rKelved from &)vernors or Or8￿15atIOn5 connected wlth Gover￿)1$12020. £21.4WI. OThER OPERAYING EXPEP45ES 2021 University registrat￿0 fees Students and course dellvery Student 5UPPOrt e¥pendlture Ballet Central expenditure Outreach. learnlng and participation Communications and Mark￿Ing PremSses Office equipment and insurzrKe Other offite costs Audit and accounta Other legal & PTofes5ional Bank and merchant char8e5 24,149 27.350 163.070 136.678 2.018 47,851 521.S51 70,235 15,6CrfJ 14,742 166.3C6 27,227 32.917 57,865 175,431 66,0 64.2CIJ 405.81$ 60,081 49,CK)7 13,982 118,067 42,866 1,216,786 1.091,259 IA comwny Ilmftéd bY•￿￿dIrt¢t1 NOTESTOTHE FINANa4LsfATEMEPITS l¢on¥nyed) FOR THEYEAR TO 31 JLKY 2021 OTHER OPEFLATTNG EXPEIISES l(oTrthM*dl Other optr3tinB expenses Include5 £474.747 in relation to restrkted funds12020: £3942041. Addrtional resowce5were allocatedth studentsupport In thefonnof cash bursartèsl£l58,038 In 2021 cOMpa￿d w1th£176SS8 In 20201 to help students Sn need whh lI￿n8 costs to enabletheirstvdying *Central. Taken togetherwlth £69,760 feedlscounts and scholarships deducted from tulrlon fee irtome in not* 5, total stUd￿t support amounted to £227,79812020: £255,358). Included In Premlses Costs ar* £58.608 of runnlngtosts durln8constTUCtlon at Parls Garden$12020.. £83,699). Included In Other Legal and Professlonal costsare£88.141 forf￿ndra￿n& PR and ￿herconsulta￿aSso￿ate0 with thepFoject1£91,(KO In 20201. Inchjded In ￿dIt and a¢¢ountsn(y Costs are £14,742 In Ye5pert of aud￿ fee512020: £14,364). TAXATION The tharltatAe company15 exerrot from corptyafjon tax on Its thwltable artIvI￿e5. Durlr* the yearTheatre TaK Rellef on prlor year expend￿Ure was clalmed for 4 pre4bous financlal years. from year endln8 31 July 2017to 31 Juty 2020. TANGIBLE FIXED AS5Ers Pknnt& Flltlnp Tot•1 At l August 2020 Addltlon5 01sposaLs 14.417.189 2.249.185 35,769 92A35 110,4621 14,507,018 2.750.451 122,1961 408,431 111.7341 At 31 July 2021 16,666J74 450,757 118,142 17.235,273 Depreclotlon At I Au8U5t 2020 Charge ft)r the year Dlsposals 610 16S315 34,427 111,813 111,7341 35,549 23,429 110,4621 680,870 3￿,557 122,1961 At 31Juty 2021 776,209 06 48,516 959,231 Net t¥)ok value at 31 July 2021 ,890,165 316251 69,626 £16,276,042 Net I￿k v*ue at 31jU￿ 2020 13A06.295 19,633 220 £13,826,148 On 17th December 2015 a new premlse5 lease was s*ned forthe Paris Garden 51te, effectlve Istjanuary 2016. Owlngto the fact that the flrst 7 years of the 70 year lease are rent free. the dixounted value of the lease poyments over the life of the lease have been dlscounted. tapitalised and amort15ed o¥er the life of the lease in accordance with note 2.4. This has resujted In a depreclatlon charge of £133.286 noti¢)nal rent forthe new bulldlrkg durng the period. Buildi￿ costs and prolesyonal fees for the reAf site have been caFNtaltsed as an a55et in the course of constructlon and Included withln PremisÈs assets. Dèpreciabon will onty commence when the new building is completed and brou8ht Snto operation: costs within P￿rnISeS fwl a$5ets are Ilkdyto be reclassifieil a5 FiX￿re5 and Fittiw. FIXED ASSET114VESThIEPllS Inw*stm*nt In sthithary CoM￿nY Historical cost at l August 2020 and 31 July 2021 £1 The comp3ny hdd5 1¢)J% of the IIM) i￿ued £1 ordinary shares ol Ballet Central Limited a company Incorporated In En8land and Wale5. The companydid not trade durin8 the year and has net assets of£Nil. 23 IA company Imhed byBuar•ntee) NOTESTOThE RNAMaALSTATEMENfs {(ontIn￿￿) FOR THE YEAR TO 31JULY 2021 STOCK 2021 zozo scho￿ unlforff £3,281 £4.486 £2,151 of stock was rece8n￿d as an expense durln8 the year In ￿(ordance wtth unifom sale5 over the same perlod, 1202tr. £6.4331 DEBTORS 2021 Z020 Trade debtors Prepayments and ¥crued Incimne 33.145 94.518 34,724 1,201,056 127,663 1,235,780 CREDITORS: lrnounts Ill￿4￿•1*htr on• Y￿r 2021 2020 Trade credltors Accruals Taxes and soclal setur6ty105ts Loans payable- due In < I year Other creditors Deferred Incom• 201,597 474.430 41,814 141,761 311,746 31L536 114,844 445,796 30,392 IiO,CQ7 19,498 556,418 ￿482￿84 L276,955 Included wlthln trnde credRors are £13.692 of pmfesgon•l fees. and wthln acuuals £12,01￿ of professlonal fees. CAEDITORk. *m(Mmts y•4t•rth•Th 2020 Pro¥ision5 for IlabSlttles and thar8es New Bulldln8 Operatlng Lease Creditor Loan5 poyable-due In > l ye 260.0(KI 9.430,551 4.616.3n 9,4￿,825 3.21L781 12.692,606 14306,923 Provlstons for liabllhles char8￿ConSIsted of an accrual for potefflfjal buikllnÉ dilapldaUon costs rthi n￿)ved tocredttors due wlthln l year. The new building operating lease credrtor reth5 to the initial (apltalised Value of payw*nts overthe 70 veèr lease. as included in TanWble Fixed A5S*s in note 11. Two loan facllltles are ￿11￿¢ a% bridging finance for the Parfs Gardens projxt £f￿xI,[MxI was loaned by the Arts Irnpatt Fund Isupported by Nesta. Art5Council En￿and, Esmée Falrbalrn Fwndation. B￿k ofAmerka Merrlll Lynch and Cak)usteGulbenkian Foundatlonl In 2018119, and Southwark cou￿1 made avallable £3 millh)n. Davld and Jane Gosman generouslyconverted their loan of £1.3 million to a 8ift wlthln 2021. 24 THE CENTRAL SCHOOL OF BALLET CHARITABLETRusr ui (A comp•ny Ilmtted byguaiihtè*l NOTESTO YHE ANA•ICIALSTATEMENfs {wntlnuedJ FOR THE YEAR TO 31JUiY 2021 17. ANALYSIS OF FUNDS AtiA At 31 July 2021 Transfers R•strirt•d Funds Bulldln8 Oeveloprnert Fund Garf￿ld Weston Leverhulme Trus¢ Support Valerie Heath Mwnoilal Fund Emlty Har8rea¥es S¢Wr3h* fur Chr15topher Gzble Estate Central Frlends General Student Sup1￿ Fund Crther Restrfcted Funds 1,734,431 66.667 61L364 539.423 3.148.534 66,667 3,276 3.276 581 581 4,￿3 68,571 33.538 5,267 33.538 L811.113 1.640,269 769,756 $39,423 3,221,049 End¢)wmerrt Funds Gllllan Fleet Legacy 1,134.879 156,0331 1539,4231 539,423 Unrestrktsd Funth General School fund Deslgnated Capkal fund 896.375 2.455.143 2.435,485 916,033 896.375 2.455,143 2A35,185 1539,4231 916,033 TOTAL FUNDS 3A42,367 4.039,379 3205,241 4.676,$05 The BuSlding Development Fund comprise5 donatlon5 and yants m•Jeto Sch(￿1 from Trusts, Found*ions and iNNvldua15 to supFort the we￿eX Studios projert and the th)ofs lon8-term su5talnabllity strate8y. The Wield Weston Foundotlon have supported Central w￿h a 3 year 8rant towards a communlty programme in Southwark. deferred wlthln 2020121 to 2021122. The Leverhulme Trust provlded hJndln8 to support St[￿nts In financial need at undergraduate and postgraduate level. The Valerte Heath & Emlly Har8reaves Funtlswere createdto help students in need in specific ¢ircumstsnces. The ChrSstopher Gabje Fund is a1È8acyfund of the late co-founderoftht￿hO￿l. Christopher Gabld and was create(I tofund aspectsof workdellverin8 artistic ex¢eller*e. The Central Friends lund ¢tsmprises membership fees which are expended on Ballet Central and course delivery. The General Student Suppwtfund 15 made up of8enerous grants and donat￿$ from a wide pool ofdonors to provlde financlal assistance to students in need of sUPPOrt. Other restrkted fvnds comprise ¢*>nations and grznts Kenerated to support speclfl£ pro8Tammes of work across the khool, includin8 SUPPOrt for the Satellr(e School, BaEkn Central tour and productbns and course delivery. The very klnd legxy of the late Gillian is in 5VPPOrt of talented students In flnanclal need, to be invested and awarded annualty as a s¢holwshipfrom l AuBUSt 2021. 50% of thefund5 Invested In thecreatkjn of the Gillian Heet Studio. 25 THE CENTRALSCHO(X OF BALLEfcHARITABLE TR115T UMtrED . IA conyamt Iknlw byy¥rnnteel NOTES TO THE HNANaALSTATEMEpifs lo￿1n FOR ThE YEAR TO 31JULY2021 AIWYS15 OF NEfASSEIS ThEN FVI4DS Totsl Flxed assets Stc*k Debtors Cash and bank Liabilities 16276.142 3.281 127.663 16,276,142 3,281 127,663 2,444.9J9 114.175.4901 3.22L049 539.422 114,175A901 916,034 3,221,(519 539A22 4,676,50S ApifAL COMMITMEIITS At 31 july 2021 the 5¢hfy)I had £131k of outstsndln8 tomml¢ments In rel•tton to capitsl e¥pendlture12020.' £1.92ml, for a desl8n and bulld contr* wtth Kler Servtes Ltd forthe fft•ut of the new Wessex st￿￿50$ prem15e5 In London SEI. 20. OPERATING iEASE COIAMITMEPITS At 31 Juty 202L the School had totsl ￿￿MItMents In Te5pect of operatlTry leases *thlch explre In th• perlod shown.. lab￿ •n Ildhy l•nd Jnd bumdk Oth•r 20Zi V41thFn one year Two to five years i ftve year5 28,749 3,447 8,071 4,487 n6,825 7y3.376 £8.270.201 £28,749 £4,487 £12,558 DurI￿thI year £185.47312020 £2139091 was expended relatlng to rental costs In respect of assets held underoperatln8 leases. PE￿(￿￿ COMMIThIEpifs The c￿rItable company operates a defined Contri￿tIon penslon scheme. Theamounts pakl Into the stheme are held Sn an independently admlnostwd fund IB&CE - The People's Pensknnl. The penyon ¢05t charees to this wOrkpl￿e penslon xheme representcontrfbU￿nS payable by thtcompanyto t￿fUnd th amunted to £30,86512020£32.1291. Therewere no amounts outstandln8 at the balance Sheet date. In addltbn. the company was Ilable to pay contrartual penslon contributlorks forthe Drrector whi¢h ar￿Unted to £3.IX¥J12020 £1.6631. 23. RECONauATION OF NEf.INCOME TO METCASH INFLOW FROM OPERATING Ac￿￿5 Net lTrcome for the year Add back depreclatton tharge Deduct Interest In¢tyne sho¥vn in investlrg artivibes IDecreaselnncrease In stock {DecreasÈl￿n¢fe3$e in debtors (Decreasel￿ntre0se in capitalised buiklir* the cre&rt(Ys [D￿rease11[n(reaSe In other Cre￿￿or$ Loan mnverted to ￿ft 834.138 3￿,557 11.8861 1,249,751 145,626 116,1761 15091 11,119,529) 40,219 4211,362 LIO8,117 50.274 1158.E641 11.3CqJ.CWI Generated cash used In operatlro £833.741 £4,510,744 26 IA ¢ornpany lirnlt•d bywarante•l NOYESTO THE HNANaAL sfATEMENTS IrontlN*dl FOR THEYEAR TO 31 JULY 2021 24. FINANCIAL IIISTAIIMENTS 2020 Flrtan¢l•l atsets Fina￿la1 assets measured at fair ¥￿ut thro￿ kyofft or10sS 2,478,053 4A74,574 £2A78,053 £4,474￿74 FIMnd•l Il•bllllles Flnan¢ial IlabHMes measured at aNK•twed cost 201.497 114.844 £201,497 £114,844 Flnanclal assets measured at falr value thro￿ wofft or comprlsecash at bank and trade debtors. Other financlal lia1￿lItieS rnea5ured at falrvalue thrwgh wofft or k>sscomprlsetrade ueditors. 2& MOVEMENT IN FUNDS- 1020 Tot•1 2020 Funds Funds Inwn• Fundln8 Councll 8rants Teachln8 Brant Other 8rants Government grants Tultlon fees & edvcatlon contracts other In￿rne Investment income 289.891 91,112 289.891 91.112 64,994 1,635.399 IA77.634 16.176 1,635,399 120.801 9,188 621.954 L134.879 Total Inc 1211.385 628.942 1,134.879 3,975,206 Expendllure Staff costs Operatln8 expenses Depreciation IM8.570 697,055 1,488,570 1,091,259 145,626 394,204 133,286 li Total Expendllure 2.197.%5 527,490 2,725,455 Sw￿¥$/(Defi¢ltI on Continui￿ ¢wrnlions 13.420 IOIA52 LI34￿79 1,249,751 Retalned resefves blforward 882.955 1.709.661 592.616 Retained re5efve5 cl fwward £896J75 £1.811.113 El.134,879 £3B42,367 27 IA conwrylmlted by warantse} 140TES TO THE FINAIKJALsfATEMENT5 Itt)ntlnuÈd) FOR ThE YEAR TO 31JULY 2021 2& ANALYSIS OF FUNDS 2020 At I Au8tsrt 2019 At aijulv 2020 Re#rlrted Funth Building Development Fund Garfield Weston Leverhulme Trurt. Support Valerle Heath Memorial Fund Emmy Har8rea¥•s kh¢lanhW Fur 1.702,793 377.701 348,￿3 33,333 1.734.431 66.667 3.276 3,276 ChrLstopher Gable Estate Central Frlend5 General Student Support Fund Other Restrlcted Funds 2,581 12,CW) 581 5.761 76.329 21,151 5,761 71,182 21.151 607 5,754 L709.661 628.942 527.490 1,811,113 Endowment Funds Gilllan Fleet Le8acy LI34￿79 L134.879 Unrestrkt•d Funds Genefal School fund Designated Capttal fund 637.963 244,992 2.211.385 2,197.965 244,992 1244,9921 896.375 882.955 1211.385 1197.965 896375 TOTAL FUNDS 2.592.616 3,975.2C 2.725,455 3A42,367