Annual Report 2017 BALLET 2017 ANNUAL REPORT The ballet world has begun to take notice of this company that is punching above its weight.

Business Insider, 2017 01 2017 ANNUAL REPORT

Chair’s Report 4 – 5 is Artistic Director’s Report 6 – 7 Executive Director’s Report 8 – 9 incredibly Academy Director’s Report 10 – 11 Performance Summary 12 – 13 privileged to Performance Seasons 14 – 27 Studio Season 28 – 29 be home to the Regional Queensland Tour 30 – 31 Guest Performances 32 – 33 very special 2017 Year in Review 34 – 35 Reach, Education & Engagement 36 – 37 Our Partners 38 Queensland Our Supporters 39 The Company 40 Ballet and Corporate Governance 41 Directors’ Report 42 – 44 its talented Auditor’s Independence Declaration 45 Financials 46 – 62 creatives. Independent Auditor’s Report 63

Scenestr, 2017 03 QUEENSLAND BALLET 2017 ANNUAL REPORT

I’m happy to say that 2017 has seen plenty of favourable outcomes for us, but I think everyone at QB would agree that our goalposts keep moving! And that’s because our vision of creating magic, enriching lives gets bigger and more ambitious each year.

We are a Company that is ambitious. If success is described Workshops held in , Adelaide, and as the ‘favourable outcome of endeavours or the accomplishment allowed young participants in other states to experience the elite of a goal’, we are only halfway there. training offered by our highly-respected Academy teaching staff. It is 2017 was the year in which a great deal of strategic thinking heartening to see interstate enrolments in our Academy as well as a began to take solid form, as we moved further along QB’s journey healthy Queensland cohort, as young Queenslanders now choose to of artistic revitalisation, deeper community engagement and legacy- stay here to undertake their ballet training. building. The redevelopment of our home in the Thomas Dixon Centre The scope and depth of what we do is made possible only by began in earnest, with architects Conrad Gargett providing inspiring a growing group of partners, trusts and foundations, and individuals conceptual designs and the process of consultation and approvals who generously support QB’s vision. We remain grateful for the beginning. I warmly acknowledge the anchor gift from Ian Potter ongoing funding from the Queensland and Australian Governments Foundation — this visionary philanthropic organisation was one of which provides us with a stable financial base on which to build. With the first to support our bold plan to provide the infrastructure which the launch of Season 2018 in September 2017, Suncorp became QB's will sustain our growing company long into the future. Principal Partner, partnering with us over the next three years to enable A milestone was surpassed when, for the first time in our more sharing of ballet magic throughout Queensland and Australia. Sealy history, we exceeded $5 million in box office revenue for the year. Australia and QGC were welcomed into our family of Major Partners, QB’s production of Ben Stevenson’s Swan Lake bettered the record joining BMW, JC Decaux and Virgin Australia; other new corporate of Strictly Gershwin in 2016, becoming our highest-selling production partners included Grant Thornton, Horsey Jameson Bird, Recon to date. While this acclaimed production might have set the bar high, Solutions, and Transurban. We thank all of our partners, many of whom other productions in our mainstage season either came very close have been with us for over five years, for their continued, loyal support. to or exceeded their targets as well. Artistic Director Li Cunxin and Executive Director Dilshani We continued our determination to take world-class ballet Weerasinghe have continued to lead QB with an astonishing degree to regional Queenslanders by touring our of passion, talent, insight and tenacity. They inspire the whole team co-production, the charming La Fille mal gardée to Rockhampton, to give of their best — creating a force to be reckoned with — Maryborough, the Gold Coast and Toowoomba, surprising audiences and on behalf of the QB Board, I offer them our sincere thanks. with a joyous and comedic production. It’s been my privilege and pleasure to be on the Board of Sharing the magic of our art form with as many people as this remarkable Company for nine years, as Chair for the last five. As possible is a driving impetus which we pursued wholeheartedly during my time on the board of directors comes to an end, I look back in proud Chair’s 2017. QB’s Engagement team delivered a range of accessible, inclusive amazement at what we have achieved in the last nine years and am truly and enjoyable experiences for all ages. With over 55% of activities excited by what is yet to come. My fellow Directors have provided not taking place outside the Brisbane metropolitan area, our commitment only fine governance, but wise counsel, firm will and friendship. Each is to all Queenslanders is evident — and Queensland certainly responded firmly committed to seeing Queensland Ballet fulfil its potential to be an to these opportunities with enthusiasm and excitement. admired and valued cultural icon. Maria and I, together with our family, We fostered strong and mutually beneficial relationships with look forward to enjoying Queensland Ballet for many more years to come. the education sector through in-school and immersive experiences Report at our home studios, as well as exploring the near-limitless possibilities Brett Clark of digital resources. Clearly, the power of ballet to inspire creativity Chair and well-being is taking hold, as our community and education programs continue to grow in popularity. Nurturing the artists of the future is of long-held, strategic importance to this Company. Now, we are thrilled to have an unprecedented level of support for our QB Academy, following the Queensland Government’s announcement in November 2017 of $10 million in funding to develop a purpose-built facility on the site of Brisbane’s Kelvin Grove State College. Scheduled to accept the first intake of students in 2020, this major infrastructure initiative will spur the ongoing development of our world-class Academy and investment in ballet talent development for our Asia Pacific region.

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We are a company that reaches. We reach beyond what we may Moving straight from a more contemporary season with classical currently be capable of, what we see as possible right now. influences to one of ballet’s oldest ballets, La Fille mal gardée, We reach because we never want to be constrained by the was quite a shift but one that was full of surprises for us. now, we don’t only want to achieve what is achievable.

This does not make us waiver in our commitment to excellence Our triple bill, Raw, presented three incredible and varied ballets with Marc Ribaud’s version of this classic, a co-production with our friends Although the last five years have been a whirlwind of growth, and doing our very best in the moment. Instead it makes us desire to Christopher Bruce’s Ghost Dances, 's No Man’s Land and at West Australian Ballet, was a delight from start to finish. Our dancers it does feel like we are on the cusp on something even bigger, perfect what we have now so we’re equipped to dream big, to aim high 's Glass Concerto. This season was respectively iconic, took to it with abandon and embraced its witty storyline, its endearing something beyond even our dreams. I feel so privileged to be on this in hope and work. We strive to exceed: to exceed expectations, our moving and athletic. Our dancers were pushed to inhabit stirring characters and charming choreography. I don’t think I’ve ever heard adventure with the matchless Dilshani Weerasinghe. Her boundless own and also those of our audiences, our critics and our industry. and heart-rending characters, embrace very different movement and such heartfelt laughter in the theatre before and seen so many smiles energy, her steadfast belief in the value of what we’re doing and her I’m pleased to say that 2017 was a year of reaching for the stars. pressed to deliver intensely physical performances night after night, walking out the door post-performance. earnest love of this artform are a driving force behind QB’s momentum. Our production of Ben Stevenson’s dreamy Swan Lake proved that the they surpassed even my expectations. Despite a relatively quick return to the stage since we first I acknowledge our Board for their unending support but also in equal appetite for ballet’s classics is well and truly alive. In a world saturated Brisbane audiences were treated to one of international ballet’s performed it, Trey McIntyre’s Peter Pan captured the imagination of measure for being willing to challenge us and stretch us as a team. with the next big thing and a constant offering of ‘new and improved’, very best as we brought Bolshoi star, Evgenia Obrasztova, to the stage audiences once again. This fairytale classic, complete with flying on I would also like to take this opportunity to acknowledge the this is a fact that thrills me: that there is still a place for traditional for our season of Ben Stevenson’s Swan Lake. Evgenia was the epitome stage, surpassed its ticket target and proved once again that gorgeous remarkable work of Brett Clark, our board member of nine years and beauty. Swan Lake certainly smashed our previous box office record set of grace, technique and beauty not only on stage but in the studio. This stories brought to life never grow old. Chair for the past five years. As his time at QB comes to an end, I thank so recently by Derek Deane’s Strictly Gershwin in 2016 and became the remarkable star who shone so brightly on stage (with our own Principal There was no winding down towards the end of the year for him for his commitment, leadership and friendship, and wish him the highest box office record we’ve ever achieved for a single production. Artist Victor Estévez), seamlessly became a part of our Company any of us, most of all me, as we looked to stage our annual tradition, very best for the future. From established classics to that notion of bringing the classical as she rehearsed with us, took class with our dancers, and wowed , in the Lyric Theatre for the first time. In what seemed Finally, as always, the end of another year inevitably means into a new era, we began the year with our inaugural Bespoke season. audiences on the Lyric Theatre stage. It fills my heart when I see our a good idea at the time, I announced my one-off return to the stage the farewelling of some treasured dancers as they move on to new A season that captured the imagination of audiences and critics alike. Company dance alongside such a star and hold their own, what a way to perform in our season of The Nutcracker, at our Season 2018 adventures. This year we farewelled two of our Principal Artists, Clare Bespoke took us out of our comfort zone in a challenging and endlessly we’ve come and how proud we should be of this Company. launch in September. Eighteen years after retiring from the stage Morehen and Shane Wuerthner. Both of these dancers leave a legacy rewarding way. New choreography, a new stage and new mediums. The established Dance Dialogues studio season once again meant a lot of work to get back to performance fitness, mentally of what it is to be wholly and completely committed to their craft. We Choreographers Amy Hollingsworth, Jack Lister and Stephanie Lake saw us nurture emerging choreographic talent with two of our and physically. I think the most endearing impact of this return to the thank them for their contribution to Queensland Ballet, for so many thrilled our dancers with a beautifully collaborative creative process dancers, Company Artist Jack Lister and Soloist Teri Crilly, and guest stage for me was a renewed appreciation and respect for our dancers memorable moments on stage and in the studio and wish them both that blossomed in the studios and lit up the stage as our gifted artists choreographer, Alice Topp, along with Paul Boyd delivering remarkable and what they do every day. It was a remarkable experience for me to well in their endeavours off the stage. delivered inspired performances every show. short-form ballet works. dance alongside our world-class artists and I thank everyone for their If 2017 was a year of reaching and exceeding, then I know support and encouragement, and to our Principal Partner Suncorp the year ahead will see us persist in these endeavours as we aim for for enabling the performance. Queensland Ballet to be a living and growing force, asserting itself We are a Company blessed with partners we’re so very proud long after we’ve moved on. to work alongside. Our enduring relationships with Queensland Performing Arts Centre and Queensland Symphony Orchestra allow us Li Cunxin to have confidence in being able to deliver world-class performances Artistic Director on international standard stages and for that we are always grateful. I thankfully acknowledge the generous and committed members of the Artistic Director’s Circle whose passion matches ours and whose Artistic ongoing support allows steady assurance of being able to deliver on our dreams. We remain genuinely grateful to our corporate partners, supporters and donors who continue to empower us to be ambitious and allow us to be fearless and daring in our thinking and programming. It has always been a firm goal of ours to establish our QB Academy as a training pipeline that equips young dancers for entry into our Company or any other professional . I feel the last few Director’s years have seen a coming of age for our training programs and I could not be prouder of the outcomes we’re starting to see. The wisdom of this commitment has been borne out by the rising standard of graduates, resulting in four Pre-Professional Program students being engaged in QB’s 2018 Jette Parker Young Artist Program, and another two as Trainee Dancers. In addition to those employed by QB a further four have been report engaged by other ballet companies both in Australia and abroad.

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We are a Company with a higher purpose. In a word, that purpose is When I think of what we give people through what we do, it’s about ‘people’. Looking inwardly, the inexhaustible QB team inspires and experience, the gift of ballet through experience. So much of drives our every endeavour. There’s no way we’d be where we are now what QB audiences and communities experience is driven by our if not for the dedicated, committed, creative souls that make QB tick. remarkable artistic and creative teams.

Our enabling team includes our visionary supporters, The capital campaign to fund the refurbishment of the Thomas Dixon Li’s artistic vision for this Company remains unwavering in its focus We remain indebted to our supporters and corporate partners corporate partners and collaborators, all of whom are so inspiring in Centre is now well and truly underway, with capital donations of on delivering experiences that touch lives. His energy and drive is without whose support, we would be standing still. In 2017, our Capital their own spheres but combined with ballet, we make magic together. $1.62 million received in the year, increasing what would have been unstoppable and utterly inspiring. We all feel it, live it and dream with Campaign started in earnest, we welcomed new members to our giving Ultimately, ballet on and off stage – in theatres, studios, schools, an operating profit of $35,178 to an unusually high result for 2017. him. I thank him for his friendship, belief and complete commitment syndicates including our Artistic Director’s Circle, Music Director’s spaces — is about having a positive, at times transformative impact, on Great ballet companies go hand-in-hand with great ballet to creating magic, and acknowledge his talented team for juggling Circle and Dancers’ Circle, and celebrated Suncorp as our new Principal the lives and minds of people: our audiences, our community. In 2017, we schools. This is a statement known world-wide and one we have said multiple initiatives and delivering beautiful ballet every time. 2017 Partner. In September, we staged the inaugural QB Gala Ball, La Danse explored different ways to enrich lives through our art form with a strong often over the last few years. We were thrilled when the Queensland could not have been possible without the incomparable support and de l’Amour, an evening hosted by the incomparable David Wenham focus on establishing world-class homes for those in our Company and Government granted and announced the funding to enable a world- governance of our board members and Chair, Brett Clark. I would like to with performances by our very own artists and guest musicians. It was Academy, and consolidating wellbeing in our everyday practice. class home for our Academy at Kelvin Grove which will truly see our personally thank Brett for all the time and energy he has invested over quite a heart-warming sight to see over 500 guests on the dance floor Inspired by Ian Potter Foundation’s visionary grant, 2017 Academy programs thrive as we invite aspiring ballet dancers to join the past nine years to help shape QB into the Company it is today. with our dancers and we raised valuable support for our community was the year we really started to dream big about elements of our us in Years 7-12 from 2020. Echoing the ethos of our Company home, With community and audiences at the forefront of all that we and regional initiatives in style. Thomas Dixon Centre refurbishment. It soon became clear that our our young students will enjoy airy studios, break-out spaces and health do, our education and engagement program grew again in 2017. As I look back on a year of achievements that can be measured home would not only be a world-class ballet centre with airy studios, facilities, all designed with their education and wellbeing at centre. Our community-based workshops, auditions and masterclasses in numbers: 124 performances, over 79,000 audience members, the costume workroom and creative spaces, but it would also consider its As our repertory builds and future productions are commissioned, engaged more than 2500 aspiring dancers, there were over 17,000 announcement of a new home for our Academy, breaking our box office inhabitants’ wellbeing in every way. Our dancers’ lounge and terrace, 2017 also saw us open discussions with potential collaborators around participants in our community dance classes and ongoing interest record by nearly $1 million, I’m reminded again of the importance of that the Wellness Centre, the outdoor green areas and the very design of the establishment of a Production Centre where our sets and costumes in our Seniors in Studio and Dance for Parkinson’s programs. We which cannot be quantified: dreams. I wholeheartedly agree with Eleanor our expanded home will truly place people at heart when our doors could be made and stored. Our third home will complete our three sites: undertook a creative health research project into ballet for seniors Roosevelt who famously said, “the future belongs to those who believe open again in 2020. one vision, truly laying our foundations, providing best-practice facilities which brought home some valuable research into the motivations to in the beauty of their dreams.” After all, ballet is for every dreamer. for our people, students, audiences, community and collaborators, and participate in wellbeing activities that will inform our programs into the sustaining our endeavour into the future. future. We’re thrilled that our QB Junior Friends program has become a Dilshani Weerasinghe well-established first step into the QB family and that our engagement Executive Director with teachers is providing professional development opportunities and curriculum-based activities for schools through our suite of offerings. QB is a Company that really does value genuine synergy with our enablers and I would like to acknowledge the whole QB team who, despite the pace of endeavour, truly do ensure the show does goes on with grace and enthusiasm every day. May the warmth and laughter of friendship and true collaboration take us all forward into 2018 to Executive create more magic for more people. Director’s Report 08 09 QUEENSLAND BALLET 2017 ANNUAL REPORT

2017 was a year in which the future of our Queensland Ballet Academy as a leading elite ballet training program was firmly launched.

Already working towards the goal of becoming the ballet training program of The PPP dancers enjoyed the opportunity choice in the region, the Academy received a huge boost in late 2017 when the Queensland to perform as part of four company seasons Government announced $10 million in funding to enable the development of a state-of-the- including Dance Dialogues, Swan Lake, Peter art facility at Kelvin Grove State College. The establishment of this purpose-built Academy, Pan and The Nutcracker. They also undertook allowing students to undertake their ballet training and academic studies on one site, will seven stand-alone performances including be transformational for our training program and allow us to attract even more talent from one work created by Australian choreographer Queensland, Australia and abroad. Construction of the new facility will commence in 2018, Gareth Belling, and a class-work demonstration open for enrolments in late 2019 and accept its first students for studies in 2020. as part of QB’s inaugural Gala Ball. The SP students undertook open day demonstrations Alongside this remarkable development, The Academy undertook two week-long for parents, teachers and general public as well our Academy continued to grow and flourish Summer School programs this year that as five live performance opportunities, with one retaining existing students at a promising attracted almost 200 students with a student being invited to join the Company for rate and attracting new talent. In 2017, student pleasing mix of local, regional, interstate and the Swan Lake season. enrolments throughout the levels of the international participants. Our mock-audition A major measure of our success as a Academy (Pre-Professional Program, Senior workshops, including Q&A sessions with ballet training program must always be the Program and Associate Program) totaled 145. Academy teachers, Company dancers and outcome of our graduating students and Almost 20 percent of those enrolments where guests, attracted 120 participants across four the results of our 2017 PPP cohort certainly students who had graduated through levels workshops. Academy teachers facilitated speak volumes with graduates now dancing of the Academy the previous year. We saw workshops in Sydney, Melbourne, Adelaide, professionally with Queensland Ballet, West a slight change in the make-up of our 2017 Brisbane and Townsville to allow potential Australian Ballet, , cohort with an increase in student numbers students and studio teachers insight into and National Moravian from interstate within our Pre-Professional a day in the life of an Academy student, - Silesian Ballet Company in the Czech Program (PPP) and Senior Program (SP) with 35 – 50 participants in each city. Republic. A number of students have chosen levels: the majority of our students in these Providing outstanding performance to further develop their skills by remaining in levels now come from interstate. Our Junior opportunities for our Academy students the program for another year. Program was renamed as the Associate remained a priority this year with Program (AP) with the previous top two our PPP and SP students all gaining Christian Tátchev Academy levels merging to start to cater for younger valuable professional development Academy Director dance students in the future and eliminating through mainstage performances. Director's an overlap with our Senior Program. 145 students across six levels. 53% coming from interstate. 9% international. More than 320 participants in Summer Schools Report and training workshops. Across 9 Academy and Guest Productions, our elite students performed in front of more than 15,000 people.

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Queensland Ballet’s 2017 performing year encompassed six mainstage seasons, one studio season, a regional Queensland 124 tour and two Academy productions. The Company’s reach PERFORMANCES+ was extended through more than fifteen performances at non-traditional venues and events.

6 WORLD PREMIÈRE PRODUCTIONS

2 AUSTRALIAN PREMIÈRE PRODUCTIONS

64,976 PAID ATTENDANCE*

79,901 Performance TOTAL ATTENDANCE $5,385,039 Summary BOX OFFICE*

+includes guest performances 12 13 *excludes regional tour QUEENSLAND BALLET 2017 ANNUAL REPORT

This inspiring season saw our dancers team up with artists from diverse disciplines, including Aria award-winning songstress Katie Noonan and electronic-beats project cln. Choreographers included acclaimed Amy Hollingsworth, award-winning Stephanie Lake and Queensland Ballet Company Artist Jack Lister.

BESPOKE PERFORMANCES ATTENDANCE BOX OFFICE

10 – 12 February GLASS HEART RATIONAL/ ANIMAL CHAMELEON Brisbane Choreographer Amy Hollingsworth Choreographer Jack Lister Choreographer Stephanie Lake Powerhouse Theatre, Brisbane Powerhouse Creative Consultant/ Composer/Vocalist Music Fearful Symmetries Composer Robin Fox Katie Noonan Composer John Adams Lighting Designer Cameron Goerg Music Producer/ Composer cln Lighting Designer Cameron Goerg Costume Concept Stephanie Lake Lighting Designer Cameron Goerg Costume Concept Jack Lister Costume Design Coordinator Noelene Hill Costume Concept Amy Hollingsworth Costume Design Coordinator Noelene Hill Costume Design Coordinator Noelene Hill Bespoke was supported by the Queensland Government through Arts Queensland.

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Raw presented three transcendent dance pieces with powerful movement evoking stories of human experience.

PERFORMANCES ATTENDANCE BOX OFFICE RAW Liam Scarlett’s No Man’s Land drew on Glass Concerto, choreographed by Christopher Bruce’s Ghost Dances is one 17 – 25 March the power of dance to reflect upon the Greg Horsman, showcased the speed and of the most celebrated Brisbane heartache of war. precision of the artists of Queensland Ballet. pieces of its generation. Playhouse, QPAC NO MAN’S LAND GLASS CONCERTO GHOST DANCES Choreographer Liam Scarlett Choreographer Greg Horsman Choreographer & Set Designer Music/ Composer excerpts from Harmonies Music/ Composer Violin Concerto by Christopher Bruce Poétiques Et Religiuses by Franz Liszt Philip Glass Music Inti-Illimani Arranged, Orchestrated and Conducted by Recording by Wiener Philharmoniker Costume Designer Belinda Scarlett Gavin Sutherland with English National Conducted by Christoph von Dohnányi Lighting Designer Nick Chelton Ballet Philharmonic Costume Designer George Qu Lighting Recreated by Cameron Goerg Set & Costume Designer Jon Bausor Lighting Designer Cameron Goerg Stagers Dawn Scannell and Stevel Brett Lighting Designer Paul Keogan Stager Yohei Sasaki

No Man’s Land was a co-production with Queensland Ballet and (ENB).

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This classic story of good versus evil is considered one of the greatest ballets of all time.

PERFORMANCES ATTENDANCE BOX OFFICE

True love prevails in this powerful story Choreographer Ben Stevenson OBE after Petipa and Ivanov set to Tchaikovsky’s glorious score. Composer Pyotr Ilyich Tchaikovsky Conductor Nigel Gaynor Ben Stevenson’s traditional production Music performed by SWAN LAKE Queensland Symphony Orchestra featured exquisite dancing, beautiful 5 – 13 May Costume & Set Designer costumes and spectacular sets. Kristian Fredrikson Brisbane Lighting Designer Glenn Hughes Lyric Theatre, QPAC

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LA FILLE PERFORMANCES ATTENDANCE BOX OFFICE

Set in the French countryside in the La Fille mal gardée was a co-production with a West Australian Ballet. MAL GARDÉE 1950s, La Fille mal gardée delighted and The Brisbane season was proudly supported by Suncorp. 4 – 19 August entertained audiences with a love triangle Brisbane that created comic chaos. This stunning Choreographer Marc Ribaud Playhouse, QPAC Music Ferdinand Herold production has become a popular family Arranged by John Lanchbery Conductor Nigel Gaynor favourite because of its engaging story, Music performed by Camerata — colourful humour and beautiful dancing. Queensland’s Chamber Orchestra Costume Designer Lexi De Silva Lighting Designer Jon Buswell Set Designer Richard Roberts Stager Craig Lord-Sole

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PERFORMANCES ATTENDANCE BOX OFFICE

Trey McIntyre’s Peter Pan was first Peter Pan was presented in association with PowerArts. performed by in 2002. Choreographer Trey McIntyre This imaginative and highly original ballet Composers Sir Edward Elgar and PETER PAN Neil DePonte reinterprets J.M. Barrie’s beloved story 25 October – 5 November Wind and brass arrangement with wit, verve and distinctly modern spirit. Andrew Mogrelia Brisbane Conductor Nigel Gaynor Playhouse, QPAC Music performed by Queensland Symphony Orchestra Set Designer Thomas Boyd Costume Designer Jeanne Button Lighting Designer Christina R Giannelli Lighting Recreated by Cameron Goerg

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THE PERFORMANCES ATTENDANCE BOX OFFICE

NUTCRACKER A in two acts, based on ETA Choreographer Ben Stevenson OBE Music Pytor Ilyich Tchaikovsky Hoffman’s tale of The Nutcracker and the Conductor Nigel Gaynor Music performed by 8 – 16 December Mouse King (1816). First produced on 18 Queensland Symphony Orchestra Brisbane December, 1892 by the Imperial Ballet at the Set Designer Thomas Boyd Lyric Theatre, QPAC Costume Designer Desmond Heeley Mariinsky Theatre, St Petersburg, Russia. Associate Costume Designer Noelene Hill Lighting Designer David Walters Choreographed by Ben Stevenson in 1976, this production of The Nutcracker was first Lighting recreated by Cameron Goerg performed in 1987 by Houston Ballet in the Wotham Theater, Houston, Texas. Queensland Ballet’s first performance of this production was on 5 December 2013.

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In a special performance of The Nutcracker in 2017, world-famous dancer and Queensland Ballet Artistic Director Li Cunxin’s Li Cunxin returned to the stage after 18 years since he had performed professionally in the the role of Dr Drosselmeyer. return to the stage ATTENDANCE BOX OFFICE

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Dance Dialogues is an annual season highlight that gives audiences the exclusive opportunity to experience our Company performing in our studio home. DANCE PERFORMANCES ATTENDANCE BOX OFFICE

BAROQUE BEATLES STILL LIFE WARM TEARS Choreographer Paul Boyd Choreographer Jack Lister Choreographer Alice Topp Music Peter Breiner: Beatles Go Baroque Music Franz Liszt: Sonata in B Minor — Music Philip Glass: Truman Sleeps (excerpts from Beatles Concerto Grosso Andante Sostenuto (The Truman Show soundtrack), Nos. 1, 2, 3, & 4) Pianist Kylie Foster Metamorphosis Three, DIALOGUES Lighting Designer Cameron Goerg Lighting Designer Cameron Goerg I’m Going to make a Cake 7 – 17 June (The Hours soundtrack) SONDER Lighting Designer Cameron Goerg Brisbane Choreographer Teri Crilly Thomas Dixon Centre Music Wil Hughes: Sonder Lighting Designer Cameron Goerg

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LA FILLE The regional tour was supported by the Playing Queensland Fund and arTour, initiatives of the Queensland Government through Arts MAL GARDÉE Queensland, part of the Department of the Premier and Cabinet. Regional Tour Survey responses saw regional 25 August – 16 September attendees rate as 99% ‘Excellent’ Regional and metro Queensland: PERFORMANCES ATTENDANCE across the performance overall, Rockhampton, Maryborough, Gold Coast and Toowoomba as well as the choreography and production quality.

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Guest Performances Guest Performances

PERFORMANCE LOCATION DESCRIPTION NO. OF TOTAL PERFORMANCE LOCATION DESCRIPTION NO. OF TOTAL PERFORMANCES ATTENDANCE PERFORMANCES ATTENDANCE

Care to Dance? Pre-Professional Program students performed 1 1,300 Together Live — The Concourse, Two Soloists performed a pas de deux from 2 1000 9 April divertissements from The Nutcracker, Sydney Youth Ballet Chatswood, Sydney The Nutcracker accompanied by Queensland Medical Orchestra 21 & 22 September

Performance at the Peak Spicers Peak Lodge Pre-Professional Program students performed 1 50 Indonesia Gala Theater Jakarta, One Principal Artist and one Senior Soloist 2 2400 23 April — Contact Point, an original work by 22 & 23 September Indonesia performed a pas de deux from Swan Lake choreographer Gareth Belling in collaboration Suncorp Shine Awards Brisbane City Hall, One Principal Artist and one Company Artist 1 325 with Collusion Music 12 October Main Auditorium performed a pas de deux from La Fille Noosa Long The J Theatre, Jette Parker Young Artists and performed 1 350 mal gardée Weekend Festival Noosa Heads Amy Hollingsworth’s Glass Heart and Paul Edward St Edward St, Brisbane One Soloist and one Company Artist performed 1 150 22 July Boyd’s Baroque Beatles, and Company Artists Collective Launch Jack Lister’s Still Life performed The Flames of Paris pas de deux 12 October Creative Generation: Brisbane Convention Pre-Professional Program students 4 8,000 Prelude ‘17 The Conservatorium Senior Program students performed in a 2 680 State Schools on Stage & Exhibition Centre performed a new work choreographed one performance 22 & 23 October Theatre, Brisbane full-length program of short works and 13 & 14 July by Paul Boyd televised nationally repertoire pieces Ballet Theatre of Concert Hall, QPAC One Senior Soloist and one Company Artist 1 1600 Carmen In-Concert Concert Hall, QPAC One Principal Artist and one Soloist performed 1 1,600 Queensland 80th Gala performed a pas deux from Swan Lake 25 November a pas de deux from Carmen accompanied by 30 July Queensland Symphony Orchestra Muscle Memory: Reflex Brisbane Powerhouse Pre-Professional Program students performed 2 740 Kelvin Grove State Gardens Theatre, QUT Senior Program Level 3 performed as guest 2 600 17 & 19 August in two works choreographed by Gareth Belling College: 3 to 9 Steps dancers in a collaboration with Collusion Forward QB 2018 Season Launch Concert Hall, QPAC Two Principal Artists, two Soloists and three 4 1,000 29 & 30 November 12 September Company Artists performed excerpts from Senior Program Charles Lisner Studio, Senior Program presented Paquita before a 1 150 Season 2018 Graduation Event Thomas Dixon Centre Graduation ceremony Aspire ‘17 Charles Lisner Studio, Pre-Professional Program students performed 2 250 2 December 21 & 22 September Thomas Dixon Centre in a full-length program of short works and The Nutcracker — Lyric Theatre, QPAC One Principal and one Senior Soloist travelled 4 4122 repertoire pieces Texas Ballet Theatre to Fort Worth, Texas and performed the 2nd act exchange pas de duex from The Nutcracker 13 & 15 December

Queensland Pops Concert Hall, QPAC One Company Artist and one Senior Program 2 3200 Orchestra student performed a pas de deux from Giselle 31 December

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2017 Year in Review Box Office Box Office Income Breakdown

Self-Generated Income

% 6 3 6 8 SEASON 3 % ,

1 $5,385,040 3 2 9 12 TICKET 7 , 9 3 , 0 1

HOLDERS $ ,2 $4,606,326 4 $ % 4

6 SELF- 4 SINGLE 5 GENERATED ,6

$3,230,602 5 TICKETS 0

INCOME $2,909,319 4

$2,400,920 , $3

OTHER 2013 2014 2015 2016 2017 % INCOME 9 7 42 8,9 38 $15, Exceeded box office Season Tickets made up over target by over 8% 36% of box office income, with 79% of our total income was self-generated 5,861 Season Ticket Holders

Sponsorship & Income Channels Philanthropy

8%

2 BOX OFFICE 8 %

%

1 $6,554,671 2

SPONSORSHIP, $5,220,878 PHILANTHROPY & FUNDRAISING

$4,207,801 GOVERNMENT $3,420,430 $3,147,652 OTHER 2013 2014 43% 2015 2016 2017

Sponsorship, philanthropy and fundraising Contributed income generated 43% of our total income increased by over 25% excluding capital funding directed donations

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Reaching our community “It was so worthwhile — both personally and professionally. This program will be something that I speak highly of for the rest of my career. I will also encourage other arts teachers to be part of it…”

2017 Education Ambassador

In 2017 we did not waiver from our commitment to sharing MAKING FRIENDS “I started the ballet classes from a very dark place in my life… the gift of ballet with as many people as possible. Our wide-ranging Annual membership of our QB Junior Friends program reached almost engagement programs enabled us to reach more than 43, 200 people. 600 in 2017 and we loved getting to know our new friends, seeing them now I feel that I have come full circle back to the person I was before. We’re proud that more than 55 percent of our community and at QB Junior Friends events and at our performances. Our flagship studio engagement programs took place outside the Brisbane metro area engagement program, Adopt-a-Dancer, continued its momentum with over I am so grateful to Queensland Ballet for providing the opportunity reaffirming that we are a ballet company for all Queenslanders. 750 students from community dance studios engaging with our dancers Our education programs engaged in excess of 5,800 primary through this heart-warming initiative. for myself and others like me to have access to ballet…” and secondary students across Queensland, many of whom would not 2017 dance class participant usually be exposed to the artform of ballet. Our offering of in-school A CLASS FOR EVERY BODY dance workshops, immersive ballet experiences, online resources and QB’s public dance classes continued to grow in popularity with a significant subsidised school group performance tickets allows us to reach and rise in first-time attendees this year. Ballet classes remain our most popular inspire more students than ever. This year also saw a focus on building class type with our Ballet for Seniors program establishing a dedicated group strong, mutually beneficial relationships with students and academics of attendees. A 10-month Ballet for Seniors research project was undertaken CONNECTING ONLINE across the tertiary sector, including practitioners and researchers in this year in partnership with Queensland University of Technology and We continued to develop our digital offering in 2017, with more than 66 galleries and 95 videos helping to share the the field of creative health. enabled by Advance Queensland support. This is invaluable work that will Queensland Ballet story far and wide. This is more than three times the amount of video content produced in 2016. continue to inform the Company's classes for active older adults. Our social media channels continue to grow exponentially each year, with a highly-engaged audience. Followers across our three major social media channels increased by more than 14 percent from 2016.

17,468 580 5,896 12,345

registrations for QB Junior Friends members participants in various school participants in various public QB dance classes workshops, classes and seminars programs such as Q&As, information sessions and theatre activations Website E-newsletters Sessions — 471,368 At the Barre — 11,669 avg 47.82% open rate per issue Users — 272,794 Repertoire — 3,304 Reach, New Visitors — 56.29% avg 48.17% open rate per issue Page Views — 1,700,256 Dance Classes — 3,619 Education & avg 37.69% open rate per issue Facebook Instagram Twitter 71,090 followers 26,705 followers 3,806 followers Engagement at 31 December 2017 at 31 December 2017 at 31 December 2017

36 37 QUEENSLAND BALLET 2017 ANNUAL REPORT

Our Partners Our Supporters

Queensland Ballet would like to thank the following partners Queensland Ballet gratefully acknowledges the generous support for their valued contribution in 2017 of the following patrons from 1 January to 31 December 2017:

Visionaries Principal Dancers' Circle Charles Lisner Circle Troy & Karelia Gianduzzo Jonathon Perrett GOVERNMENT PRINCIPAL PARTNER The Ian Potter Foundation Aileen & Rodd Brockett Realised Bequests — Mandy Goodyear Leah Perry Oak Foundation John & Lynnly Chalk Isabell Honor Hall Maynard Sue and Mike Gowan Karen Pomeroy Brett & Maria Clark Kay Brain Dance Education Trust Jan & Graeme George Caroline Poon Artistic Director's Circle Ben Duke & Cate Heyworth-Smith Lesley Merle Williams Allan Green Flick Pope Anonymous (1) Helen & Dan McVay Pamela Gribben Forbes Pratt Veronika Butta Alison Watkins Notified Bequests — Dr Mirko Guaralda Jann Punch Barbara Duhig Anonymous (1) Danielle Guinea C Ralph Ian & Cass George Soloists’ Circle Dr Sheena Burnell Isabel & Jessica Gunning Margaret Raymond Lynn Harvey Darren & Carmel Brown Lucien Castand & Donald Robson John & Sandra Haggarty Lynne & Chris Raymont MAJOR PARTNERS Bruce and Jill Mathieson Mrs Jane Douglass am Dr Stephen Margolis & Joan Hall Bronwyn Risk Simon & Catriona Mordant Drs Ailbhe & Frank Cunningham Dr Valmae Ypinazar Ruth Hamlyn-Harris Barbara Robins Patricia Macdonald The Godber Family Dr James McGown Jane Hammond Kathryn Russell Memorial Foundation Andrea and David Graham Kathleen Nowik Dr Alana Harris Ross Sadler Miss Valmai Pidgeon am Martin Gordon Jane Steinberg Carmel Harris Steven & Amanda Sartor Gerry & Val Ryan Roy Hoskins Jean Heimgartner Joanne Scott Amanda Talbot Gay Hull Supporters Margaret Henry Jake Shavikin Roy & Nola Thompson Dr Joan M Lawrence am Anonymous (44) Sarah Hickman Michael & Angela Sheridan Tim Fairfax Family Foundation Lori Lowther Dayrelle Abbey Jenny Hicks Isabella Shue Li Cunxin & Mary Li Dr David Adamec Dr Rhyl Hinwood am Robynne Siemon SEASON PARTNERS Principal Benefactors Keith McCamley Robyn Adams Jane Hirschfeld Dr Nerida Smith Frazer Family Foundation Paula McLuskie & Nathan Sticklen Pamela Alick Marilyn Howe J Sneyd The McLaren Family Denise O’Boyle Annelise Allan Ken Hoyle Leonard Sparkes Marion Pender Trisha Anderson Iona Iredale Elizabeth Stafford Queensland Advocates Ross & Jennifer Perrett The Anderson/Sage Family Shirley Jackson Neil & Jenny Summerson Philip Bacon am Mr John B Reid ao & Brian & Pam Andrew Megan Janke Christine Symonds John Borghetti Mrs Lynn Rainbow-Reid am Lorelei Bache Diane & Paul Kierce Irene Symons Michael Cameron Siganto Foundation Russell Barnett Rosie King Rhondda Taffs Simon Dyer Peter & Jayne Smith Flora Barwick Nicole Klein Penelope Thomson Scott Hartley Tony Sukkar am and Ashlee & Darcy Basford Ross Krieg Patricia Tyler Tony Nunan Josephine Sukkar am John and Janice Bell Andrea Kriewaldt Susan Vivian Cathie Reid Birks Family Ross and Sophia Lamont Malcolm Tyrrell Judith St Baker & Dancers' Circle Carole Byron Elizabeth Lever T Vu & C Tillman Trevor St Baker ao Anonymous (2) Kathy Brims Jane Lee Ling Beryl & Michael Ward Steve Wilson am Julieanne Alroe Dr Sheena Burnell Barbara Lloyd Frances Ware Dr Pitre & Mrs Monique Anderson Marie Byrne Dr Lesley Lluka Colleen Wilson Benefactors Dr Julie Beeby Elene Carides Elizabeth Lukeij Susan Wilson Anonymous (1) Lewis Bell Elizabeth Carrigan Chriss Macaranas Helen Withey Angie’s Fund Janelle Berlese Thea Carrol SE & P MacDonald Wendy Woellner SUPPORT PARTNERS Clive and Conchita Armitage Betzien Duffield Family Lucien Castand & Donald Robson Elizabeth Macintosh Jessie Yeowart Mary & John Barlow Virginia Bishop Ann Caston Sally Macqueen Donna Young Barbara Bedwell Sharyn Crawford Greg and Jacinta Chalmers Norman & Cathy Maher David Brownell Ron & Margot Finney Peter & Gabrielle Chisholm Nick and Georgia Martin In loving memory of Robin Campbell Family Kylie Ganko Fiona Clark Buff Maycock Mardi Bartlett. Foundation John & Belinda Haines Bob Cleland Graham McKay Jack & Sharon Cowin Louise Hamshere Rexine Cooney Matthew and Ainsley McLaren Queensland Ballet is supported Susan & Craig Davison Maria Heves Lucinda Cooper Leanne McMillan by Queensland Ballet Friends. Goldburg Family Foundation Dr Shane and Mrs Ciara Higgins Angela Cornford-Scott Justice Philip and Margeret Khitercs Hirai Foundation Robyn & Ray Hüttenmeister Barry Cowdell McMurdo Our thanks go to everyone who Dr Stephen Margolis & Lynne Masters Laurie Cowled Anthony Mellick has shown their support by Dr Valmae Ypinazar C P Morris Carolyn Craig Doug Merritt donating to Queensland Ballet. Dr Cathryn Mittelheuser am Jennifer Morrison Gay Crebert Dan & Kate Miles Every gift, large or small helps Mrs Beverley J Smith Dr Andreas Obermair & Jacky Da Costa Desmond B Misso Esq us to achieve our vision. If you The John and Jennifer Dr Monika Janda Jennifer Davy Christine Moore would like to know more about MEDIA PARTNERS OFFICIAL POINTE SHOE PARTNER Brukner Foundation Olive Oswald Marina De Jager Lynette Moore our philanthropic programs, Liz and Graeme Wikman K Parascos Laurie James Deane Michael & Jacqueline Morrow please contact us on Bruce Parncutt Annette Devilee Elizabeth Newton 07 3013 6662 or email Music Director’s Circle John & Mandy Peden Pamela Douglas Anita Nimmo [email protected] Mr Robert Albert ao & Rhyl Row Paige Douglass Carmel Nolan Mrs Libby Albert Darryl & Kate Sim Mary Duggan Pauline North Acknowledgements correct FA & MA Pidgeon The Hon. Justice David Hazel Eivers Barbara O'Connor at March 2018 Morgans Foundation Thomas & Mrs Jane Thomas Tristan Englart Bernie O’Dowd CORPORATE CLUB RESTAURANT PARTNERS Anne Symons Robyn & Todd Wanless William Forgan-Smith Greg and Wendy O’Meara Denise Wadley The Weerasinghe-Neaum Family Penelope Fraser-Benson Donna O’Sullivan Auswide Bank, Bank of Queensland, Calleija, Careers Australia, Dr. Lily Vrtik, Grant Thornton, A La Barre, Billykart, Darling & Co, Beverlee Garnett Ruriko Otsuka King & Wood Mallesons, LMT Surgical, The Consultancy Bureau, The Thinking Cap Group, The Regatta Hotel, Urbane, Prof. Mary Garson Isla Rose and Savannah M Parry Oksana’s Kitchen, Queensland X-Ray, Sunsuper White Rabbit Brewery

38 39 QUEENSLAND BALLET 2017 ANNUAL REPORT

The Company Corporate Governance

Queensland Ballet has maintained sound corporate governance in 2017 creating value through accountability and controls systems to align with associated risks, in accordance with the eight principles set out by the Tripartite Funding Agreement.

PATRON COMPANY ARTISTS ACADEMY MARKETING OPERATIONS 1. Lay solid foundations for 3. Promote ethical and and the Finance Director provide 7. Recognise and manage risk His Excellency the Honourable D’Arcy Brazier Academy Director Marketing & Audience (Interim) Director of written declarations to the Board Queensland Ballet has a risk Paul de Jersey ac, Governor Zoe Doonar Christian Tàtchev Development Director Operations and Finance management and oversight responsible decision making of Queensland Zhi Fang Head of Academy Operations Alana Capra David Doxey Queensland Ballet has established Queensland Ballet has in place a that the company’s financial management plan which is reviewed Liam Geck Gabrielle Johnston Head of Ticketing & Insights (from 20 November) BOARD OF DIRECTORS Serena Green Teachers Dimity Vowles Head of Events and Touring a Board Charter setting out the company-wide code of conduct statements have been prepared in and updated annually. Divided into Chair Tamara Hanton Paul Boyd Digital Content Manager Liz Cuffe roles, responsibilities, structure that includes a set of values to be conformity with generally accepted six key areas (program, reputation, Brett Clark Mia Heathcote (to 29 October) Louise Deleur Jasmine Ellem (from 3 October) (to 19 December) Deputy Chair Zuquan Kou Elena Kozhemyachenko Marketing Campaigns Manager Head of Precincts and processes of the Board of embodied by company members, accounting principles and they give corporate, financial, facilities and Justice David Thomas Dylan Lackey (from 26 June) Veronika Sheremetieva Laura Oliver Lucas Gilroy Queensland Ballet, that is in directors and employees. a true and fair view of the state of administration), the plan assigns Directors Jack Lister (from 23 January) Marketing Manager (from 3 October) Winna Brown Vanessa Morelli Zenia Tàtcheva Amanda Lawson (to 10 July) Head of Finance addition to and consistent with There are mechanisms in affairs of the company. a risk weighting based on the Peter Godber Samuel Packer Associate Teachers Marketing Manager Lynne Masters Queensland Ballet’s constitution. place for identifying and managing likelihood and impact of each event. Paula McLuskie David Power Wim Broeckx Kirby Leadle (to 13 June) Financial & Catriona Mordant Lou Spichtig Anthony Lewis Acting Publicity Manager Systems Accountant A formal induction process exists conflicts of interest of Board 6. Recognise the legitimate Included in the plan are controls Assoc. Prof. Gene Moyle Georgia Swan Grant McLay Danielle Renshaw Tanya Kretschmann for all new directors prior to members and employees and all interest of stakeholders for managing each area of risk. The Allan Pidgeon am Ari Thompson (from 13 February) Melissa Tattam (from 6 February to 2 June) (to 30 August) Amanda Talbot Rian Thompson Ticketing & Events Manager attending their first meeting. directors are asked to disclose Queensland Ballet acknowledges Board regularly assesses risks that Laura Tosar BUSINESS Customer Service Specialist Jessica Rose Each director is protected changes to the interests register at the company’s legal obligations have the potential to impact on the HONORARY LIFE MEMBERS Joel Woellner (to 14 May) Director of Internal & Maggie Holmes Workplace Health & Marlene Collins Neneka Yoshida External Relations Digital Content Coordinator Safety Advisor by a deed of access, indemnity the commencement of each meeting. to our stakeholders, including operations of Queensland Ballet at Pauline Crowe Sophie Zoricic Kendall Battley Victoria Winter David James and insurance which is issued government and employees, meetings. These discussions are Lynette Denny am Wu Ze Grants & Projects Manager (from 30 October) on appointment. partners, members and patrons. recorded in minutes and in reports Prof. Ashley Goldsworthy am obe Jean Attwater MEDICAL Facilities Coordinator 4. Promote diversity Kevin Hodges JETTE PARKER YOUNG ARTISTS Strategic Projects Manager Head of Performance Medicine Campbell Misfeld The Queensland Ballet Board An updated Cultural Diversity The Chair, Artistic Director and from the Artistic Director and Patrick Kelly Patrick Bruppacher Melissa Godwin Zara Gomes Finance Officer François Klaus Hannah Clark (from 31 July) Human Resources Manager Assistant Company Diane Wouansi reviews and monitors the strategic Policy was approved by the Executive Director maintain regular Executive Director. Valerie Lisner Shaun Curtis (from 31 July) Candice Sheldon (from 25 July) Physiotherapist & Receptionist direction of Queensland Ballet as set board in 2010. The organisation contact with government funding Margaret Lucas oam Karla Florez Academy Physiotherapist Karen Iddon John Matthews (from 9 January to 17 September) DEVELOPMENT Louise Drysdale (from 6 February) Administration Trainee out in our Strategic Plan 2016–2020. as a whole is committed to agencies and are responsible for 8. Remunerate fairly and Dr Neil McCormack Chiara Gonzalez Development Director Company Masseur Brianna Hanby The Board held seven promoting inclusive practices and ensuring all legal and financial responsibly Adjunct Prof. Joan Sheldon am Daniel Kempson Georgina Anthonisz Pedro Alcobio formal meetings in 2017. understanding. The company code reporting requirements are met. Queensland Ballet’s approach to Neil Summerson am Kihiro Kusukami Philanthropy Manager Pilates PRODUCTION Alysha Martignago Zoë Connolly Catherine Neal Technical Director There are four sub-committees of conduct recognises the need to The Board continued to remuneration is underpinned by EXECUTIVE Libby-Rose Niederer Development Manager Nicole Vass Thomas Boyd (to 26 June) Artistic Director Suguru Otsuka Jake Shavikin (to 15 June) Strength Training Technical Director (Finance, Nominations, Artistic respect individual differences and work with Executive Staff and the principles of attracting and Li Cunxin Paige Rochester Corporate Partnerships Manager Anthony Lewis Cameron Goerg and Governance) and additional strive for an inclusive workplace the Workplace Health and Safety retaining capable and committed Executive Director Peter Vassili Rachael Walsh Head of Production Dilshani Weerasinghe Development Coordinator MUSIC Shaun O'Rourke meetings are held with these where every person can contribute committee to monitor, review and people, supporting the execution of Executive Assistant EXTRA COMPANY ARTISTS Ally Bennett (from 13 March) Music Director & Technical Coordinator committees to consider matters of to the endeavours of the company. improve health and safety conditions the company’s strategic plan and Kismet Bourne (from 9 May) Yayoi Matches (to 16 December) Corporate Partnerships Principal Conductor Scott Chiverton Executive Assistant Tara Schaufuss (to 14 May) Coordinator Nigel Gaynor Staging Coordinator strategic and operational importance. to fulfil our legislative obligations. remunerating fairly and consistently. Patricia Cotterell (to 16 May) Hayley Dettrick Principal Pianist Dan Villiers 5. Safeguards integrity in Our member engagement The Chair is responsible for ARTISTIC Kylie Foster PRINCIPAL ARTISTS Artistic Associate EDUCATION & ENGAGEMENT Company Pianist WARDROBE 2. Structure the Board to financial reporting includes our Annual General performance and salary reviews of Victor Estèvez Liam Scarlett Education & Brett Sturdy Head of Wardrobe & add value The Finance sub-committee Meeting, performances and the Artistic director and Executive Laura Hidalgo Ballet Master & Engagement Director Academy Pianists Resident Designer Lucy Green (from 30 October) Head of Artistic Operations Felicity Mandile Helen David Noelene Hill The Nominations sub-committee meet regularly throughout the events, annual report, website, Director. The Executive Director Yanela Piñera Greg Horsman Community Gary Dionysius Principal Cutter & is responsible for identifying and year to review, monitor and season launch, and ongoing is responsible for ensuring Camilo Ramos (from 30 October) Ballet Mistress & Engagement Manager Workroom Supervisor Shane Wuerthner Principal Répétiteur Erin Halliday Anna Ilic recruiting new directors. advise on the company’s budgets, communication through print and salary levels of all employees are Mary Li Learning & Erin Krosch The Board includes financial statements, and other digital channels. The company’s appropriate and competitive with SENIOR SOLOISTS Ballet Mistress & Participation Manager Assistant to Wardrobe Lisa Edwards Artistic Coordinator Kerry Sellers Production Manager directors with a range of skills who financial information. A detailed supporters are acknowledged the market. The Company has made Janette Mulligan Education Executive Amanda Newman provide their time and services on a financial report is presented throughout the year at company a firm commitment to remunerate SOLOISTS Ballet Mistress & Jacob Williams Cutter, Coordinator Vito Bernasconi Creative Associate Creative Health Project Lead Kathryn Lee voluntary basis, together with the at each Board meeting. performances and events and in the dancers at a comparative level Teri Crilly Amy Hollingsworth Anja Ali-Haapala Senior Costumier Executive Director and Artistic The company’s annual our print and digital publications. to industry standard and have Lucy Green (from 23 January) Company Manager (from 20 February to Isabelle Lacombe Mia Heathcote (from 30 October) Craig Cathcart 17 December) Wardrobe Assistant & Director, who attend the Board financial statements are audited by Our engagement with government endorsed annual rate increases Alexander Idaszak Company & EdSquad Dresser meeting in an ex officio capacity. an independent external auditor is through formal reporting under until 2019. The director’s positions Lina Kim Academy Coordinator Martha Godber Zoe Gibson Camilo Ramos (to 29 October) Tess Callanan Grace Nichols Wig Stylist The Board annually evaluates its own appointed by the Board. The our funding arrangements. The are on an honorary basis and Joel Woellner (from 15 May) Sally Ringland Michael Green performance and that of the Artistic auditor’s independence, competence Chair and Executive Director have as such they do not receive Amelia Waller Director and Executive Director. and capability is reviewed by the regular contact with Government remuneration for their role as Board. The Executive Director regarding the operations and directors of the Company. strategic direction of the company.

40 41 QUEENSLAND BALLET 2017 ANNUAL REPORT

Amanda Talbot DIRECTORS’ MEETINGS Directors’ Report Amanda is a Director of the Talbot Family The number of Directors’ meetings and number of meetings attended by each of the Foundation, which was established with her Directors of the Company during the financial year are indicated in the table below. late husband Ken Talbot. The Foundation For the year ended 31 December 2017 has focused on education, establishing The DIRECTOR NO. OF MEETINGS ATTENDED NO. OF MEETINGS HELD The Directors present their report together with the financial report of The Queensland Ballet Chair of Entrepreneurship at QUT, and has Winna Brown 4 7 Company Limited (“the Company”) for the year ended 31 December 2017 and the auditors’ report thereon. supported the Unit for OHS Education at Brett Clark 5 7 UQ, Pathways Health and Research Centre and Mission Australia. Arts and cultural Peter Godber 6 7 projects supported by both the Foundation DIRECTORS Winna has significant experience in servicing Professor Gene Moyle arad maps Paula McLuskie 7 7 and other related entities include the State The Directors of the Company at any time entrepreneurial and fast growing companies, mcsep gaicd sfhea Catriona Mordant 4 7 Library of Queensland, the completion of St during or since the end of financial year are: taking them from start-up through to A graduate from John’s Cathedral and the restoration of Old Gene Moyle 7 7 successful public company status in Australia School, QUT Dance and former dancer with Government House. Additionally, Amanda Brett Clark Chair and the United States. This has included Queensland Ballet, Gene holds a Masters and Allan Pidgeon 7 7 has over 15 years’ experience overseeing Brett is the founder and Managing Director the preparation for and completion of initial Doctorate in Sport and Exercise Psychology, David Thomas 5 7 the management and development of local of ePharmacy and the Managing Partner of public offerings on the Australian Stock and has worked extensively with professional and international commercial and residential Amanda Talbot 7 7 Chemist Warehouse stores in Queensland Exchange and the NASDAQ. performing artists and elite athletes. She was construction projects. and Northern NSW. In 2009, Brett received Head of Student Health & Welfare at The a Griffith University Medal for Management Peter Godber Australian Ballet School, a Senior Advisor at PRINCIPAL ACTIVITIES COMPANY MEMBERSHIP This was a season of records as we exceeded Innovation from the Australian Institute of Peter is a Consultant at accounting firm the Queensland Academy of Sport, Senior The principal activity of the Company during Company membership was 23 members $5 million in box office takings for the first Management. In addition to the ePharmacy/ Grant Thornton and is a long-standing Performance Psychologist for the Australian the financial year was the presentation of in 2017 (2016 members: 23). time and Ben Stevenson’s Swan Lake beat Chemist Warehouse board, Brett currently subscriber and Friend of Queensland Ballet. Institute of Sport/Olympic Winter Institute ballet productions and the delivery of training our previous box office record for a single sits on the Market Reach Board. He has over 30 years’ experience in providing of Australia, including working with the and education activities. No significant RESULT production and became our highest selling professional advice to businesses of many Australian Winter Olympic Team (Torino changes in the nature of the Company’s For 2017, a net operating profit of $1,646,699 production to date. Justice David Thomas Deputy Chair sizes, including large companies and privately 2006, Vancouver 2010, Sochi 2014), and has activities occurred during the financial year. is reported (2016 net operating profit: The first ever Queensland Ballet David is a Judge of the Supreme Court of owned businesses. He is a National Councillor lectured in Performance Psychology at QUT A uniquely spirited and creative $529,557). Gala Ball was held in September with the Queensland and President of the Queensland of The Tax Institute and participates in Grant Dance since 2001. Gene is on the Queensland company, Queensland Ballet is committed aim of raising funds for our varied activities Civil and Administrative Tribunal. Formerly a Thornton’s not-for-profit industry sector group. Board of the Psychology Board of Australia to enriching lives through dance. Fostering REVIEW AND RESULT OF OPERATIONS including education and community solicitor and senior partner at Minter Ellison (AHPRA), National President of the Ausdance a culture of collaboration and excellence, In 2017 Queensland Ballet delivered a total initiatives, Academy programs, regional Lawyers in Brisbane, David has more than Paula McLuskie National Council, a member of the Queensland we engage renowned international and comprehensive profit of $1,655,178. Profit engagement and live music accompaniment. 30 years’ experience as a lawyer involved Paula is a senior assurance partner in EY’s Academy of Sport Performance Health Australian choreographers and designers includes $1,620,000 in directed income (capital The evening was a great success and in a broad range of commercial matters. Brisbane office and has over 20 years’ Advisory Panel, a National Committee Member to present world-class classical ballet and funding) which resulted in an operating profit included live and silent auctions and An active member of our community, David experience auditing and advising financial of the Australian Society for Performing contemporary dance works. With creative of $35,178. The directed income from various performances by Queensland Ballet dancers. holds other positions, including President institutions, corporates and not-for-profits Arts Healthcare, and joined QUT Creative influences from around the world, our philanthropists will be utilised for the purposes Our goal of sharing the artform of of the RNA (Queensland), Chair of the in both Australia and the UK. Paula works Industries Faculty as Head of Discipline — performances in Brisbane and regional requested by the givers. ballet with as many people as possible Queensland Maritime Museum, Trustee with executives and the boards of many Dance in November 2012, moving into the Queensland excite both audiences and Staying true to our commitment of continued with a concerted effort through of the Royal Agricultural Society of the large financial institutions operating in inaugural Head of School position of the dancers with technically challenging ballets bringing the best ballets to Queensland both our education and engagement Commonwealth and a Director of The Society complex, competitive and highly regulated School of Creative Practice in January 2017. in a range of dance styles, including new work audiences and delivering world class programs and our regional touring. More than of The Sacred Advent Schools Pty Ltd, which markets, advising on accounting, risk, from emerging choreographers. We support performances, Queensland Ballet’s 2017 55 percent of our engagement activities took is the trustee of St Margaret's and St Aidan's treasury, regulatory, governance and Allan Pidgeon am the growth of our dancers’ technique and season was a collection of story ballets place outside Brisbane metro area which Anglican Girls Schools. He is an Adjunct capital market transactions. After completing degrees in Commerce artistic maturity by working with international peppered with contemporary dance and new furthered our aim of ensuring access to all Professor at Murdoch University. and Law, Allan gained experience as a tax guest choreographers and teachers. works. The year began on a creative high with Queenslanders as their state ballet company. Catriona Mordant accountant and stockbroker. He is now Our goal to create a clear career our inaugural Bespoke contemporary season Our community, education and professional Winna Brown Sydney-based, Catriona is a member of a Director of a family property business. pathway which produces young ballet that saw us nurture emerging and established development initiatives continued to grow Currently the Boston Life Sciences Leader — the Foundation Board of the Museum of Among other community involvements, dancers whose talents are internationally choreographic talent. Our season of story in popularity and reach more people than Financial Accounting & Advisory Services in Contemporary Art Australia, a member of Allan is President of the Australian National sought-after is advanced by the training ballets followed with Swan Lake, La Fille mal ever. We took ballet to the people as we EY's Cambridge, Massachusetts, USA office. the International Council of the Tate , Flag Association and a Trustee of the Lord provided in the Jette Parker Young Artist, gardée, Peter Pan and The Nutcracker and toured La Fille mal gardée throughout Winna was a former assurance partner in an advisory council member at Venetian Mayor’s Charitable Trust. He is also a Director Pre-Professional, Senior and Junior Programs. our dancers had the privilege of working with Queensland, making ballet accessible EY’s Brisbane office and has over 20 years’ Heritage in Venice and is on the Board of of the Mater Hospital Foundation and the Beyond the stage, we aim to bring the joy international choreographers Ben Stevenson, and inclusive through our accompanying experience in a variety of industries including Sydney Dance Company. Queensland Private Enterprise Centre (allied of dance to as many people as possible Marc Ribaud and Trey McIntyre. workshops and masterclasses. life sciences, private equity, software with Griffith University Business School). through an innovative program of community technology, retail, manufacturing and engagement, education activities and public distribution, and venture capital. outreach events.

42 43 QUEENSLAND BALLET 2017 ANNUAL REPORT

Auditor’s Independence Directors’ Report Declaration

The Queensland Ballet Academy reached EVENTS SUBSEQUENT TO BALANCE DATE INSURANCE PREMIUMS Auditor’s Independence a remarkable milestone this year as the There has not arisen in the interval between The Directors have not included details of the Queensland Government announced $10 the end of financial year and the date of nature of the liabilities covered or the amount Declaration under subdivision million in funding to enable the development this report any item, transaction or event of of premium paid in respect of the Directors’ of a purpose-built ballet training facility on a material and unusual nature likely, in the liability and legal expenses insurance 60-C section 60-40 of Australian the site of Kelvin Grove State College to open opinion of the Directors of the Company, contracts, as such disclosure is prohibited in 2020. This facility will be transformational to affect significantly the operations of the under the terms of the contract. Charities and Not-for-profits for the Academy in moving towards its goal Company, the results of those operations, Commission Act 2012 of becoming established as the ballet training or the state of affairs of the Company, LEAD AUDITOR’S facility of choice in the region. in future financial years. INDEPENDENCE DECLARATION Our plans to redevelop the The Lead Auditor’s Independence Declaration To: the directors of Queensland Ballet Company Thomas Dixon Centre to keep pace with ENVIRONMENT REGULATION is set out on page 45 and forms part of I declare that, to the best of my knowledge and belief, in relation to the the significant growth of the Company The Company’s operations are not subject to the Director’s report for the year ended audit for the financial year ended 31 December 2017 there have been: progressed this year with the engagement any significant environmental regulations under 31 December 2017. of architects Conrad Gargett and associated either Commonwealth or State legislation. i. no contraventions of the auditor independence requirements as design and planning partners. Designs for Dated at Brisbane this 26th day set out in the Australian Charities and Not-for-profits Commission the redevelopment were advanced with DIRECTORS’ EMOLUMENTS of March 2018. Act 2012 in relation to the audit; and the aim of the new building opening in Since the end of the previous financial year, ii. no contraventions of any applicable code of professional conduct 2020 to coincide with the Company’s 60th no Director of the Company has received Signed in accordance with a resolution in relation to the audit. anniversary. A capital campaign to fund the or become entitled to receive any benefit of the Directors: redevelopment began alongside discussions because of a contract made by the Company with government both state and federal. or a related body corporate with a Director Our operations during the year or with a firm of which a Director is a member provided 273 full-time, part-time, or casual or with an entity in which the Director has employment opportunities for arts workers, as substantial interest. dancers, creative artists and musicians. Brett Clark KPMG Continued good governance was INDEMNIFICATION Director demonstrated through a balanced Board Since 2005, the Company has entered into 26 March, 2018 membership, well-attended and regular agreements indemnifying Directors of the meetings, appropriate and timely reporting, Company. In 2017, the following Directors development of policies and other were indemnified: Brett Clark, David Thomas, documentation, a commitment to planning Winna Brown, Peter Godber, Catriona Winna Brown M J Jeffery and adherence to protocols. Mordant, Gene Moyle, Paula McLuskie, Allan Director Partner Pidgeon and Amanda Talbot against all 26 March, 2018 Brisbane DIVIDENDS liabilities to another person (other than the 26 March 2018 The Company is prohibited by its Constitution Company or a related body corporate) that from paying or distributing any dividends may arise from their position as Directors of to its members and none has been paid or the Company, except where the liability arises declared during the financial year. out of conduct involving a lack of good faith. The agreement stipulates that the Company STATE OF AFFAIRS will meet the full amount of any such KPMG, an Australian partnership and a member firm of the KPMG network In the opinion of the Directors, there were liabilities, including costs and expenses. of independent member firms affiliated with KPMG International Cooperative no significant changes in the state of affairs ("KPMG International"), a Swiss entity. of the Company. Liability limited by a scheme approved under Professional Standards Legislation.

44 45 QUEENSLAND BALLET 2017 FINANCIAL REPORT

Statement of profit or loss and other comprehensive income for the year ended 31 December 2017

IN AUD NOTE 2017 $ 2016 $

Revenue from ticket sales — subscriptions 1,979,385 1,723,911

— single tickets 3,405,654 2,882,415

Revenue from rendering of services 880,270 798,636

Fundraising Income 254,881 —

Sponsorship (including Contra) 3,055,159 2,389,203

Donations 3,499,512 2,476,675

Donations directed 5 1,620,000 855,000

Government Grants 6 4,203,123 3,761,022

Other income 7 694,081 899,709

19,592,065 15,786,571

Administration expenses (1,710,125) (927,258)

Artistic & Production expenses (3,682,001) (2,812,510)

Employee expenses (9,106,082) (8,455,843)

Marketing & Development expenses (3,229,966) (2,806,908)

Other expenses (271,529) (330,280)

Results from operating activities 1,592,362 453,772

Financial income (interest and dividends received) 8 54,337 75,785

Financial expenses (impairment of available-for-sale financial assets) — —

Net financing income 54,337 75,785

Profit for the period 1,646,699 529,557

Other comprehensive income

Items that are or may be reclassified to profit or loss Financial Available-for-sale financial assets — net change in fair value 7,029 2,035 Available-for-sale financial assets — reclassified to profit or loss 1,450 (12,949)

Other comprehensive income for the period 8,479 (10,914) Report Total comprehensive income for the period 1,655,178 518,643

QUEENSLAND BALLET COMPANY

ABN 26 009 717 079 The statement of profit or loss and other comprehensive income is to be read in conjunction with the notes to and forming part of the financial statements set out on pages 51 – 62

46 47 QUEENSLAND BALLET 2017 FINANCIAL REPORT

Statement of financial position Statement of changes in equity as at 31 December 2017 for the year ended 31 December 2017

IN AUD NOTE 2017 $ 2016 $ IN AUD FAIR VALUE RESERVE $ RETAINED EARNINGS $ TOTAL $

Balance at 1 January 2016 12,181 3,367,562 3,379,743 Assets Total comprehensive income for the period Cash and cash equivalents 9 3,050,797 2,477,287 Profit for the year — 529,557 529,557 Cash and cash equivalents directed 9 3,535,794 2,675,222 Other comprehensive income Trade and other receivables 10 276,868 829,542 Net change in fair value of avaiable-for-sale financial assets, (10,914) — (10,914) Other current assets 11 917,382 723,852 net of tax

Total current assets 7,780,841 6,705,903 Total comprehensive income for the period (10,914) 529,557 518,643

Plant and Equipment 12 598,256 171,675 Balance at 31 December 2016 1,267 3,897,119 3,898,386

Other investments 13 691,964 668,466 Balance at 1 January 2017 1,267 3,897,119 3,898,386

Total non-current assets 1,290,220 840,141 Total comprehensive income for the period

Total assets 9,071,061 7,546,044 Profit for the year — 1,646,699 1,646,699 Liabilities Other comprehensive income Net change in fair value of avaiable-for-sale financial assets, 8,479 — 8,479 Trade and other payables 14 2,737,310 2,953,667 net of tax Employee benefits 15 627,494 593,047 Total comprehensive income for the period 8,479 1,646,699 1,655,178 Total current liabilities 3,364,804 3,546,714 Balance at 31 December 2017 9,746 5,543,818 5,553,564 Employee benefits 15 152,693 100,944

Total non-current liabilities 152,693 100,944

Total liabilities 3,517,497 3,647,658

Net assets 5,553,564 3,898,386 Equity Retained earnings 5,543,818 3,897,119

Fair value reserve 9,746 1,267

Total equity 5,553,564 3,898,386

The statement of financial position is to be read in conjunction with the notes to and forming part of the financial statements set out on pages 51 – 62 The statement of changes in equity is to be read in conjunction with the notes to and forming part of the financial statements set out on pages 51 – 62

48 49 QUEENSLAND BALLET 2017 FINANCIAL REPORT

Statement of cash flows Notes to the Financial Statements for the year ended 31 December 2017 for the year ended 31 December 2017

IN AUD NOTE 2017 $ 2016 $ 1. Reporting entity Queensland Ballet Company Limited (“the Company”) is a not-for- Cash flows from profit company. operating activities 2. Basis of preparation Cash receipts from customers 14,026,226 11,026,533 (A) STATEMENT OF COMPLIANCE Government grants received 4,174,714 3,695,099 The financial report of the Company are Tier 2 general Cash paid to suppliers and employees (17,153,044) (13,455,778) purpose financial statements which have been prepared in accordance with Australian Accounting Standards — Reduced Disclosure 1,047,896 1,265,854 Net cash provided by operating activities Requirements (AASB-RDRs) (including Australian interpretations) adopted by the Australian Accounting Standards Board (AASB) Cash flows from and the Australian Charities and Not-for-profits Commission Act investing activities 2012 and the Australian Charities and Not-for-profits Commission Regulation 2013. Interest received 52,650 59,917 The financial report was authorised for issue by the Directors Investment Income 1,687 2,477 on 26 March 2018.

Payments for Plant and Equipment (513,704) (70,988) (B) BASIS OF MEASUREMENT Contributions to Reserve Incentives Scheme (15,019) (16,443) The financial report is prepared on the historical cost basis Proceeds on disposal of investments — 72,000 except for financial instruments classified as available-for-sale which are stated at their fair value. Net cash (used in)/provided by investing activities (474,386) 46,963

Net increase in cash and cash equivalents 573,510 1,312,817 (C) FUNCTIONAL AND PRESENTATION CURRENCY Cash and cash equivalents at 1 January 2,477,287 1,164,470 These financial statements are presented in Australian dollars, which is the Company’s functional currency. Cash and cash equivalents at 31 December 9 3,050,797 2,477,287

(D) USE OF ESTIMATES AND JUDGMENTS The preparation of a financial report in conformity with Australian Accounting Standards requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised and in any future periods affected.

The statement of cash flows is to be read in conjunction with the notes to and forming part of the financial statements set out on pages 51 – 62

50 51 QUEENSLAND BALLET 2017 FINANCIAL REPORT

Notes to the Financial Statements Notes to the Financial Statements for the year ended 31 December 2017 for the year ended 31 December 2017

3. Significant accounting policies 3. Significant accounting policies The accounting policies set out below have been applied consistently (B) FINANCIAL INSTRUMENTS (continued) (C) IMPAIRMENT to all periods presented in these financial statements. (i) Non-derivative financial instruments (i) Financial assets Non-derivative financial instruments comprise investments in (B) FINANCIAL INSTRUMENTS (CONTINUED) A financial asset is assessed at each reporting date to (A) PROPERTY, PLANT AND EQUIPMENT equity and debt securities, trade and other receivables, cash and cash Held-to-maturity investments determine whether there is any objective evidence that it is impaired. (i) Recognition and measurement equivalents, and trade and other payables. If the Company has the positive intent and ability to hold debt A financial asset is considered to be impaired if objective evidence Items of property, plant and equipment are measured at cost Non-derivative financial instruments are recognised initially securities to maturity, then they are classified as held-to-maturity. indicates that one or more events have had a negative effect on the less accumulated depreciation and impairment losses. Cost includes at fair value plus, for instruments not at fair value through profit or loss, Held-to-maturity investments are measured at amortised cost using estimated future cash flows of that asset. expenditures that are directly attributable to the acquisition of the asset. any directly attributable transaction costs, except as described below. the effective interest method, less any impairment losses. An impairment loss in respect of a financial asset measured The cost of self-constructed assets includes the cost of materials and Subsequent to initial recognition non-derivative financial instruments Available-for-sale financial assets at amortised cost is calculated as the difference between its carrying direct labour, any other costs directly attributable to bringing the asset are measured as described below. The Company’s investments in equity securities and certain amount, and the present value of the estimated future cash flows to a working condition for its intended use, and the costs of dismantling A financial instrument is recognised if the Company becomes debt securities are classified as available-for-sale financial assets. discounted at the original effective interest rate. An impairment loss and removing the items and restoring the site on which they are located. a party to the contractual provisions of the instrument. Financial Subsequent to initial recognition, they are measured at fair value and in respect of an available-for-sale financial asset is calculated by Purchased software that is integral to the functionality of the related assets are derecognised if the Company’s contractual rights to the changes therein, other than impairment losses (see note (c)) are reference to its current fair value. equipment is capitalised as part of that equipment. cash flows from the financial assets expire or if the Company transfers recognised directly in equity. When an investment is derecognised, Individually significant financial assets are tested for impairment When parts of an item of property, plant and equipment have the financial asset to another party without retaining control or the cumulative gain or loss in equity is transferred to profit or loss. on an individual basis. different useful lives, they are accounted for as separate items substantially all risks and rewards of the asset. Regular way purchases Investments at fair value through profit or loss All impairment losses are recognised in profit or loss. Any (major components) of property, plant and equipment. and sales of financial assets are accounted for at trade date, i.e., the An instrument is classified as at fair value through profit or loss cumulative loss in respect of an available-for-sale financial asset (ii) Subsequent costs date that the Company commits itself to purchase or sell the asset. if it is held for trading or is designated as such upon initial recognition. recognised previously in equity is transferred to profit or loss. The cost of replacing part of an item of property, plant and Financial liabilities are derecognised if the Company’s obligations Financial instruments are designated at fair value through profit or An impairment loss is reversed if the reversal can be related equipment is recognised in the carrying amount of the item if it is specified in the contract expire or are discharged or cancelled. loss if the Company manages such investments and makes purchase objectively to an event occurring after the impairment loss was probable that the future economic benefits embodied within the part Cash and cash equivalents comprise cash balances and and sale decisions based on their fair value in accordance with the recognised. For financial assets measured at amortised cost and will flow to the Company and its cost can be measured reliably. The call deposits. Accounting for finance income and expense is Company’s documented risk management or investment strategy. available-for-sale financial assets that are debt securities, the reversal costs of the day-to-day servicing of property, plant and equipment are discussed in note f (ii). Upon initial recognition, attributable transaction costs are recognised is recognised in profit or loss. For available-for-sale financial assets that recognised in profit or loss as incurred. in profit or loss when incurred. Financial instruments at fair value are equity securities, the reversal is recognised directly in equity. (iii) Depreciation through profit or loss are measured at fair value, and changes therein Depreciation is recognised in profit or loss on a diminishing are recognised in profit or loss. value basis over the estimated useful life of each part of an item of Other property, plant and equipment. Other non-derivative financial instruments are measured The estimated useful lives for the current and comparative at amortised cost using the effective interest method, less any periods are as follows: impairment losses.

2017 2016

plant and equipment 1 – 15 YEARS 1 – 15 YEARS

fixtures and fittings 1 – 7.5 YEARS 1 – 7.5 YEARS

computer equipment 1 – 4 YEARS 1 – 4 YEARS

Depreciation methods, useful lives, and residual values are reassessed at the reporting date.

52 53 QUEENSLAND BALLET 2017 FINANCIAL REPORT

Notes to the Financial Statements Notes to the Financial Statements for the year ended 31 December 2017 for the year ended 31 December 2017

3. Significant accounting policies 3. Significant accounting policies (continued) (continued)

(C) IMPAIRMENT (CONTINUED) (D) EMPLOYEE BENEFITS (E) REVENUE (F) EXPENSES (ii) Non-financial assets (i) Defined contribution plans (i) Ticket Income (i) Operating lease payments The carrying amounts of the Company’s non-financial assets A defined contribution plan is a post-employment benefit plan Subscription and box office income from performance ticket Payments made under operating leases are recognised in the are reviewed at each reporting date to determine whether there is any under which an entity pays fixed contributions into a separate entity sales are recognised when performances, for which the tickets were income statement on a straight-line basis over the term of the lease. indication of impairment. If any such indication exists then the asset’s and will have no legal or constructive obligation to pay further amounts. sold, take place. Lease incentives received are recognised in the income statement as an recoverable amount is estimated. Obligations for contributions to defined contribution superannuation (ii) Performance Fees integral part of the total lease expense and spread over the lease term. An impairment loss is recognised if the carrying amount of funds are recognised as an expense in profit or loss when they are due. Performance fees are recognised as revenue when the (ii) Net financing costs an asset or its cash-generating unit exceeds its recoverable amount. Prepaid contributions are recognised as an asset to the extent that a performance takes place. Net financing costs comprise interest income on funds invested, A cash-generating unit is the smallest identifiable asset group that cash refund or reduction in future payments is available. (iii) Government Grants dividend income, gains/ (losses) on the disposal of available-for-sale generates cash flows that largely are independent from other assets (ii) Long-term service benefits An unconditional government grant is recognised in profit or financial assets and changes in the fair value of financial assets at fair and groups. Impairment losses are recognised in profit or loss. The Company’s net obligation in respect of long-term employee loss as other income when the grant becomes receivable. value through profit or loss. Interest income is recognised as it accrues, Impairment losses recognised in respect of cash-generating units are benefits is the amount of future benefit that employees have earned Other government grants are recognised initially as deferred using the effective interest method. Dividend income is recognised on allocated to the carrying amount of the assets in the unit (group of in return for their service in the current and prior periods plus related income when there is reasonable assurance that they will be received the date that the Company’s right to receive payment is established, units) on a pro rata basis. on-costs; that benefit is discounted to determine its present value, and and that the Company will comply with the conditions associated with which in the case of quoted securities is the ex-dividend date. The recoverable amount of an asset or cash-generating unit the fair value of any related assets is deducted. The discount rate is the the grant. Grants that compensate the Company for expenses incurred Finance expenses comprise interest expense on borrowings, is the greater of its value in use and its fair value less costs to sell. yield at the reporting date on high quality corporate bonds that have are recognised in profit or loss on a systematic basis in the same changes in the fair value of financial assets at fair value through In assessing value in use, the estimated future cash flows are maturity dates approximating the terms of the Company’s obligations. periods in which the expenses are recognised. Non-reciprocal capital profit or loss, and impairment losses recognised on financial assets. discounted to their present value using a pre-tax discount rate that The calculation is performed using the projected unit credit method. grants are recognised as revenue when the grants monies are received. All borrowing costs are recognised in profit or loss using the effective reflects current market assessments of the time value of money and (iii) Short-term service benefits (iv) Sponsorship and Donations interest method. the risks specific to the asset. Liabilities for employee benefits for wages, salaries and annual Sponsorships are recognised in the period in which they are In respect of other assets, impairment losses recognised in prior leave represent present obligations resulting from employees’ services paid. Donations are recognised as revenue when they are received. (G) INCOME TAX periods are assessed at each reporting date for any indications that the provided to reporting date and are calculated at undiscounted amounts Directed donations are funds with the express request that the The Company is exempt from paying income tax and loss has decreased or no longer exists. An impairment loss is reversed based on remuneration wage and salary rates that the Company donation is available to meet the intentions of the donor. accordingly no amount has been provided or set aside. if there has been a change in the estimates used to determine the expects to pay as at reporting date including related on-costs, such as recoverable amount. An impairment loss is reversed only to the extent workers compensation insurance and payroll tax. Non-accumulating (H) GOODS AND SERVICES TAX that the asset’s carrying amount does not exceed the carrying amount non-monetary benefits, such as medical care, housing, cars and free or Revenue, expenses and assets are recognised net of the that would have been determined, net of depreciation or amortisation, subsidised goods and services, are expensed based on the net marginal amount of goods and services tax (GST), except where the amount of if no impairment loss had been recognised. cost to the Company as the benefits are taken by the employees. GST incurred is not recoverable from the taxation authority. In these A provision is recognised for the amount expected to be paid circumstances, the GST is recognised as part of the cost of acquisition under short-term cash bonus or profit-sharing plans if the Company of the asset or as part of the expense. has a present legal or constructive obligation to pay this amount as Receivables and payables are stated with the amount of GST a result of past service provided by the employee and the obligation included. The net amount of GST recoverable from, or payable to, the can be estimated reliably. ATO is included as a current asset or liability in the balance sheet. Cash flows are included in the statement of cash flows on a gross basis. The GST components of cash flows arising from investing and financing activities which are recoverable from, or payable to, the ATO are classified as operating cash flows

54 55 QUEENSLAND BALLET 2017 FINANCIAL REPORT

Notes to the Financial Statements Notes to the Financial Statements for the year ended 31 December 2017 for the year ended 31 December 2017

3. Significant accounting policies 4. Determination of fair values 6. Government funding (continued) A number of the Company’s accounting policies and disclosures require the determination of fair value, for both financial and non- IN AUD 2017 $ 2016 $ (I) ASSUMPTIONS AND ESTIMATION UNCERTAINTIES financial assets and liabilities. Fair values have been determined Grants received: Measurement of fair values for measurement and / or disclosure purposes based on the following Australia Council — Base funding 504,518 497,552 A number of the Company’s accounting policies and disclosures methods. Where applicable, further information about the assumptions require the measurement of fair values, for both financial and made in determining fair values is disclosed in the notes specific to Australia Council — Support Change Management and Growth Grant 47,000 — non-financial assets and liabilities. that asset or liability. Australia Council — Collaborative Arts Projects 100,000 — When measuring the fair value of an asset or a liability, the Queensland Government Arts Grant — Base funding 3,423,044 2,978,544 Company uses market observable data as far as possible. Fair values (I) INVESTMENTS IN EQUITY AND DEBT SECURITIES are categorised into different levels in a fair value hierarchy based The fair value of financial assets at fair value through profit or Queensland Government — Arts Sector Initiatives 5,000 — on the inputs used in the valuation techniques as follows: loss and available-for-sale financial assets is determined by reference Queensland Government — Matching subsidy 100,000 100,000 Level 1: quoted prices (unadjusted) in active markets for to their quoted bid price at the reporting date. identical assets or liabilities. Department of Communications and the Arts — Indigenous Language Grant — 50,000 Level 2: inputs other than quoted prices included in Level 1 that (II) TRADE AND OTHER RECEIVABLES Queensland Government — Advance Queensland KTP Grant 37,963 — are observable for the asset or liability, either directly (i.e. as prices) The fair value of trade and other receivables is estimated as the Queensland Government — Arts Illuminate Grant 8,560 77,038 or indirectly (i.e. derived from prices). present value of future cash flows, discounted at the market rate Level 3: inputs for the asset or liability that are not based on of interest at the reporting date. Brisbane City Council 45,000 45,000 observable market data (unobservable inputs). 4,271,085 3,748,134 If the inputs used to measure the fair value of an asset or 5. Donations directed GST on grants received 427,108 374,813 a liability might be categorised in different levels of the fair value hierarchy, then the fair value measurement is categorised in its entirety Total cash received from government grants 4,698,193 4,122,947 in the same level of the fair value hierarchy as the lowest level input IN AUD 2017 $ 2016 $ Grants credited as income: that is significant to the entire measurement. Capital funding 1,620,000 500,000 The Company recognises transfers between levels of the fair Australia Council — Base Funding 504,518 497,552 Jette Parker Young — 355,000 value hierarchy at the end of the reporting period during which the Australia Council — Support Change Management and Growth Grant 47,000 — Artists Program change has occurred. Queensland Government Arts Grant — Base funding 3,423,044 2,978,544 Further information about the assumptions made in 1,620,000 855,000 measuring fair values is included in the following notes: Queensland Government — Matching Subsidy 100,000 100,000 Note 11 — other investments. During the year, Queensland Ballet Company received monies Queensland Government — Advance Queensland KTP Grant 37,963 — from certain donors as capital grant funding to be used for the Queensland Government — Arts Illuminate Grant 85,598 — refurbishment of the Thomas Dixon Centre. These funds are directed to meet the intention of the donor. Brisbane City Council 5,000 45,000

Attorney-General’s Department Ministry for the Arts — 100,000

Indigenous Language and Arts Program — 39,926

Total Grants Credited as Income 4,203,123 3,761,022

7. Other income

IN AUD 2017 $ 2016 $

Other income:

Revenue from performance fees 219,923 410,046

Membership fees 909 1,000

Other production and sundry income 473,249 488,663

694,081 899,709

56 57 QUEENSLAND BALLET 2017 FINANCIAL REPORT

Notes to the Financial Statements Notes to the Financial Statements for the year ended 31 December 2017 for the year ended 31 December 2017

8. Net financing income 12. Property, plant and equipment

IN AUD 2017 $ 2016 $ IN AUD OFFICE EQUIP $ PRODUCTION $ COMPUTER $ CAPITAL WORKS IN TOTAL $ PROGRESS $ Interest income 52,650 59,917 Cost Investment income 1,687 2,477 Balance at 50,159 746,888 90,156 — 887,203 Profit on sale of investments — 13,391 1 January 2017

54,337 75,785 Acquisitions — 16,179 59,866 437,659 513,704

Balance as at 31 50,159 763,067 150,022 437,659 1,400,907 9. Cash and cash equivalents December 2017

Depreciation IN AUD 2017 $ 2016 $ Balance at (44,810) (602,982) (67,736) — (715,528) Cash and cash equivalents 1 January 2017 Cash on hand 5,750 3,500 Depreciation charge (1,720) (47,010) (38,393) — (87,123) Bank balances 2,431,468 445,109 for the year

Call deposits 613,579 2,028,678 Balance as at 31 (46,530) (649,992) (106,129) — (802,651) December 2017 Cash and cash equivalents in the statement of cash flows 3,050,797 2,477,287 Carrying amounts Directed cash At 1 January 2017 5,349 143,906 22,420 — 171,675 Call deposits 3,535,794 2,675,222 At 31 December 2017 3,629 113,075 43,893 437,659 598,256 Cash and cash equivalents directed 3,535,794 2,675,222

10. Trade and other receivables

IN AUD 2017 $ 2016 $

Current

Trade receivables 273,307 819,582

Income receivable 3,561 9,960

276,868 829,542

11. Other Current Assets

IN AUD 2017 $ 2016 $

Current

Prepayments

— Insurance 55,621 —

— Deferred Production Costs 682,564 569,688

— General 179,197 154,164

917,382 723,852

58 59 QUEENSLAND BALLET 2017 FINANCIAL REPORT

Notes to the Financial Statements Notes to the Financial Statements for the year ended 31 December 2017 for the year ended 31 December 2017

13. Other investments 15. Employee benefits

IN AUD 2017 $ 2016 $ IN AUD 2017 $ 2016 $

Non-current investments Current

Listed variable rate debt securities, available-for-sale 60,915 55,219 Liability for annual leave 498,504 467,163

Interest in unlisted unit trust, available-for-sale 17,500 14,717 Liability for long-service leave 128,990 125,884

Reserve Incentives Scheme deposit 613,549 598,530 627,494 593,047

691,964 668,466 Non Current

Liability for long-service leave 152,693 100,944

152,693 100,944 RESERVES INCENTIVE SCHEME DEPOSIT Escrow subject to the terms and conditions MEASUREMENT OF FAIR VALUES The funds held in term deposit are under of the Reserves Incentive Scheme Funding FAIR VALUE HIERARCHY Contributions to defined contribution plans included in contractual obligations and were received Agreement. The deposit is not available The fair value measurements for the listed employee expenses 745,667 626,562 from the following parties: for funding of ordinary activities and has variable rate debt instruments have been 745,667 626,562 Australia Council — $107,000 not been used to secure any liabilities of categorised as Level 1 fair values. Arts Queensland — $107,000 the Company. Interest accumulates on the deposit at market rates. Total interest 16. Capital and reserves The Company has also contributed $107,000. accumulated as at 31 December 2017 is This total term deposit is to be held in $292 549 (2016: $277,530). IN AUD FAIR VALUE RESERVE $ RETAINED EARNINGS $ TOTAL EQUITY $ Balance at 1 January 2016 12,181 3,367,562 3,379,743 14. Trade and other payables Total recognised income and expense (10,914) 529,557 518,643 Balance at 31 December 2016 1,267 3,897,119 3,898,386

IN AUD 2017 $ 2016 $ Balance at 1 January 2017 1,267 3,897,119 3,898,386

Current- unsecured Total recognised income and expense 8,479 1,646,699 1,655,178

Trade payables 534,647 684,869 Balance at 31 December 2017 9,746 5,543,818 5,553,564 Non-trade payables and accrued expenses 510,467 182,738

Subscriptions, other income and grants in advance 1,692,196 1,886,060 The fair value reserve comprises the cumulative net change in the fair value of available-for-sale financial assets until the investments are PowerArts obligations — 200,000 derecognised or impaired. 2,737,310 2,953,667

The PowerArts obligation relates to monies provided to fund the 2017 Production of Peter Pan.

60 61 QUEENSLAND BALLET 2017 FINANCIAL REPORT

Notes to the Financial Statements Independent Auditor’s Report for the year ended 31 December 2017 To the members of Queensland Ballet Company

OPINION AUDITOR’S RESPONSIBILITIES FOR 17. Key management 21. Events subsequent to THE AUDIT OF THE FINANCIAL REPORT We have audited the Financial Report, of Queensland Ballet Company personnel disclosures balance date (the Company). Our objective is: In our opinion, the accompanying Financial Report of the Company is The following were key management personnel of the consolidated There has not arisen in the interval between the end of the financial i. to obtain reasonable assurance about whether the Financial Report as a in accordance with Division 60 of the Australian Charities and Not-for-profits whole is free from material misstatement, whether due to fraud or error; and entity at any time during the reporting period: year and the date of this report any item, transaction or event of Commission (ACNC) Act 2012, including: ii. to issue an Auditor’s Report that includes our opinion. a material and unusual nature likely, in the opinion of the directors i. giving a true and fair view of the Company’s financial position as at 31 NON-EXECUTIVE DIRECTORS EXECUTIVES of the Company, to affect significantly the operations of the Group, December 2017, and of its financial performance and its cash flows for the Reasonable assurance is a high level of assurance, but is not a guarantee that an Mr Brett Clark (Chair) Dilshani Weerasinghe the results of those operations, or the state of affairs of the Company, year ended on that date; and audit conducted in accordance with Australian Auditing Standards will always detect a material misstatement when it exists. Mrs Winna Brown (Executive Director) ii. complying with Australian Accounting Standards – Reduced Disclosure in future financial years. Misstatements can arise from fraud or error. They are considered material Requirements and Division 60 of the Australian Charities and Not-for-profits Justice David Thomas Li Cunxin (Artistic Director) if, individually or in the aggregate, they could reasonably be expected to influence Commission Regulation 2013. Mr Peter Godber Directors’ Declaration the economic decisions of users taken on the basis of this Financial Report. Mrs Amanda Talbot The Financial Report comprises: As part of an audit in accordance with Australian Auditing Standards, In the opinion of the Directors of the Queensland Ballet Company Mrs Catriona Mordant i. Statement of financial position as at 31 December 2017; we exercise professional judgement and maintain professional scepticism (the “Company”): throughout the audit. Associate Professor Gene Moyle ii. Statement of profit or loss and other comprehensive income, Statement of (a) The Company is not publicly accountable; changes in equity, and Statement of cash flows for the year then ended; We also: Mr Allan Pidgeon am (b) the financial statements and notes set out on pages 46 to 62, Ms Paula McLuskie iii. Notes including a summary of significant accounting policies and i. Identify and assess the risks of material misstatement of the Financial are in accordance with the Australian Charities and Not-for-profits iv. Directors’ declaration. Report, whether due to fraud or error, design and perform audit procedures Key management personnel compensation was $412,055 for the year Commission Act 2012, including: responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a (i) giving a true and fair view of the Company’s financial position BASIS FOR OPINION ended 31 December 2017 (2016: $415,237). material misstatement resulting from fraud is higher than for one resulting as at 31 December 2017 and of its performance, for the financial year We conducted our audit in accordance with Australian Auditing Standards. We from error, as fraud may involve collusion, forgery, intentional omissions, 18 . Non-key management ended on that date; and believe that the audit evidence we have obtained is sufficient and appropriate to misrepresentations, or the override of internal control. (ii) complying with Australian Accounting Standards — Reduced provide a basis for our [qualified] opinion. ii. Obtain an understanding of internal control relevant to the Audit in order personnel disclosures Disclosure Regime and the Australian Charities and Not-for-profits Our responsibilities under those standards are further described in the to design audit procedures that are appropriate in the circumstances, but Auditor’s responsibilities for the audit of the Financial Report section of our report. The Company did not enter any arrangements with non-key Commission Regulation 2013; and not for the purpose of expressing an opinion on the effectiveness of the We are independent of the Company in accordance with the auditor registered Company’s internal control. management personnel during the year which were not commercial (c) there are reasonable grounds to believe that the Company will be independence requirements of the ACNC Act 2012 and the ethical requirements iii. Evaluate the appropriateness of accounting policies used and the in nature or would unduly benefit such a party. of the Accounting Professional and Ethical Standards Board’s APES 110 able to pay its debts as and when they become due and payable. reasonableness of accounting estimates and related disclosures made Code of Ethics for Professional Accountants (the Code) that are relevant to by the Directors. our audit of the Financial Report in Australia. We have fulfilled our other ethical 19. Members Liability Signed in accordance with a resolution of the Directors: responsibilities in accordance with the Code. iv. Conclude on the appropriateness of the Directors’ use of the going concern The Queensland Ballet Company is incorporated in Queensland Dated at Brisbane this 26th day of March 2018. We confirm that the independence declaration required by the ACNC basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast as a company limited by guarantee and not having a share capital. Act 2012, which has been given to the Directors of the Company on 26 March 2018, would be in the same terms if given to the Directors as at the time of this significant doubt on the registered Company’s ability to continue as a going The Queensland Ballet is the registered trading name of Queensland Auditor’s Report. concern. If we conclude that a material uncertainty exists, we are required Ballet Company. to draw attention in our Auditor’s Report to the related disclosures in the Financial Report or, if such disclosures are inadequate, to modify our RESPONSIBILITIES OF THE DIRECTORS opinion. Our conclusions are based on the audit evidence obtained up to FOR THE FINANCIAL REPORT MEMBERS LIABILITY the date of our Auditor’s Report. However, future events or conditions may The liability of the Company is limited by guarantee: Brett Clark The Directors are responsible for: cause the registered Company to cease to continue as a going concern. The maximum liability of individual members is $2.00; and Director i. Preparing the Financial Report that gives a true and fair view in accordance v. Evaluate the overall presentation, structure and content of the Financial The aggregate liability as at 31 December 2017 amounts to 26 March, 2018 with Australian Accounting Standards - Reduced Disclosures Requirements Report, including the disclosures, and whether the Financial Report and the ACNC; represents the underlying transactions and events in a manner that $46 (2016: $46), (10 ordinary members and 13 Honorary Life Members). ii. Implementing necessary internal control to enable the preparation of a achieves fair presentation. Financial Report that gives a true and fair view and is free from material 20. Economic dependency misstatement, whether due to fraud or error; and We communicate with the Directors of the registered Company regarding, among other matters, the planned scope and timing of the audit and significant audit The Company is financially dependent on various sources of Winna Brown iii. Assessing the Company’s ability to continue as a going concern. findings, including any significant deficiencies in internal control that we identify This includes disclosing, as applicable, matters related to going concern government funding and contributed income from sponsors and Director during our audit. donors to ensure that the Company continues to trade for the 26 March, 2018 and using the going concern basis of accounting unless they either intend to liquidate the Company or to cease operations, or have no realistic foreseeable future. Government funding is spent in accordance alternative but to do so. with funding agreements.

KPMG M J Jeffery Partner Brisbane 26 March 2018

62 63 QUEENSLAND BALLET

Cover: Principal Artist Yanela Piñera Photography Harold David

Page 1: Principal Artist Yanela Piñera and Soloist Joel Woellner with Company Photography David Kelly

Page 2: Principal Artists Laura Hidalgo and Victor Estévez Photography David Kelly

Page 4: Principal Artist Laura Hidalgo and Soloist Joel Woellner Photography David Kelly

Page 10: Queensland Ballet Academy students Talia Fidra and Callum Mackie Photography David Kelly Queensland Ballet Company Limited Page 12-13: Queensland Ballet Artists ACN 009 717 079 Photography David Kelly

Page 14: Company Artists Vanessa Morelli and Sophie Zoricic and Soloists Joel Woellner and Vito Bernasconi Annual Report for year ended 31 December 2017 Photography Harold David Registered Office and Principal Place of Business Page 15: Company Artists Vanessa Morelli and David Power Photography David Kelly The Thomas Dixon Centre, Corner Drake Street Page 16: Principal Artists Laura Hidalgo and Victor Estévez and Montague Road West End QLD 4101 Photography Harold David Page 17: Queensland Ballet Artists Photography David Kelly Phone +61 7 3013 6666 Page 18: Principal Artist Yanela Piñera Fax +61 7 3013 6600 Photography Harold David Page 19: Principal Artist Yanela Piñera and Soloist Joel Woellner [email protected] Photography David Kelly queenslandballet.com.au Page 20: Principal Artist Clare Morehen Photography Harold David

Page 21: Principal Artists Laura Hidalgo and Victor Estévez Photography David Kelly

Page 22: Senior Soloist Camilo Ramos Photography Harold David

Page 23: Senior Soloist Camilo Ramos Photography David Kelly

Page 24: Company Artist Mia Heathcote Photography Harold David

Page 25: Principal Artists Yanela Piñera and Victor Estévez Photography David Kelly

Page 26: Artistic Director Li Cunxin Photography David Kelly

Page 27: Artistic Director Li Cunxin and Company Artist Neneka Yoshida Photography David Kelly

Page 28: Soloists Lina Kim and Joel Woellner and Company Artist Georgia Swan Photography Harold David

Page 29: Senior Soloist Lucy Green and Soloist Joel Woellner Photography David Kelly

Page 30: Senior Soloist Camilo Ramos Photography David Kelly

Page 31: Principal Artists Laura Hidalgo and Victor Estévez Photography David Kelly

Page 46: Principal Artist Yanela Piñera Photography David Kelly

Page 62: Artistic Director Li Cunxin as Dr Drosselmeyer in The Nutcracker Photography David Kelly

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