A balancing kit and balancing method is provided for balancing a rotating component. The balancing kit comprises a receptacle and a balancing mass. The balancing mass comprises a pin that may be passed through a corresponding slot in a plate of the receptacle during installation. To complete installation, the balancing mass is rotated so that the pin can no longer pass through the slot, and is instead retained in an installed position in which the pin rests on a lower surface of the plate. The balancing mass can be removed by the reverse process.