2023-03-31-accounts

Iiijiiii ACHZY076¢ 1)911212023 COMPANIES HOUSE A16

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Contents The Trustees of A55¢claTion f¢Jf Cuttura1 Emerprises pres￿1 their Annuol Report consdidoMd t￿Or￿￿oI slatem4nrt OF the (hority ond ils wbsidiory f¢r ts yeor endihg 31 Moi¢h 2023, whi¢h ho¥e ¢Y150 PTepored t¢ regviiemettts lor ¢) dire¢k¢rS' rtport (•id Comparw•s Ath wrpos•s. 17 Tr•awrw'5 Re 19 (MJp¢ts PubfK 21 StrKDJr4 Go¥emorKe oTrd fftknnogem￿l 22 of TtvOee5' 4espon51wrt￿ 23 and Adn￿n￿li11ve D￿117￿ 24 kndepend￿l EAonwners R•w 25 Cwsolidad Sial•mÈnt of Fin￿￿1 Acfvlt The linon¢l01510tenws <omply with the Choiities 20? 1. the Ccpmpofflles A¢t 2006, the A¢tides of A$￿1￿11￿n. ond A￿0￿￿11￿9 Rewtlll9 by ChoriT5. 51oternonl of Ret<Jmffl•nded Pio¢tice applicab￿ ￿ chaiilies pfeparig th*r accounT5 in uccordance with ihe Fina￿1￿1 Reporrifflg Standard applKoble in Ihe iJK Rep￿lIC ot lie1¢￿￿ IFRS 102 27 Si0￿￿￿ o( Coth Fbws

Welcome Coroline Brown. Choir This wus d SiyhilieaThl ywr low ihe Assow 15 upl I wish my %u(cessor Gordon oll Y¢ry besi os he iokes Culiural Enterpri￿ on lo the nexl 51igt of journey. K•y objec11￿% for The yar wer o recower our ￿￿y￿ber5￿P nurnber5, to muke a succe55fv1 ppli¢otith to Arts Courtil Englond lor (wtinued 5UPPQrt. ond ￿ recruit o new CEO ￿ the A55o¢l¢ii¢Jn follrmhg the r•tir•rn•nt of Jill F•nwKk. e# wis I yKerdy le lo IhE Teurn ond Booid lor Ihwr ( hold work ohd dedi¢0lityl. Ihtyk y¢u, ¢ur ¥(ww c￿￿￿)•1> Supp(l. 11 hos wpported and deYdop•d 5v ￿￿1vidUaL5 in the sector ond ￿Ped Ihern to muke a reol diHerEnre empb)yer5. We hovè ¢olkniYely helped maNfftJin th• hÈahh of our w(ybderfvl oJhural 5etsLY, okng Ihe high we ho¥t Finallyw I would like to the t)PPtsilyhity to thortk Jbll )ge erslHP nd en9￿gEn￿r are growiry. twi￿

Membership Mfrmborlhip is <eDtrpl io (buw puypose ond <•ntinues lo inspirè v¥ in £weoting o excellent, beneliciol oxppriyTr¢e lor oll. Thè of Ir¢Jinirg that we ofF•r li curated directly lknbei leedback. We #riye ￿ build ¢ pwror thul encompasst5 the r￿d5 of bef5 al sloge5 of th￿r oreers. h refleds the Ytsiyin ol tho¢ we r•presenl. the l•t9esi Our Membef5 fepre5eni o d￿se rotsge ol hetitoge ohd o)hwul venu¥ throughtyJi the UK ¢nd beyond. This rith OlMrnuniTy glves CulNTul EnT•rpriw o ￿￿que offer . tht Qpponun￿Y to dvelop and leom throu￿ cultural Cf05S pollSnalion. lknbtr5 ore oble t nelwork al￿gsIde peers oulsidè their u5voI sector. gaitlin9 voluob inSigh15 ¢nd leornin9 ￿ drive ¢tyTthetCi¢l exrellen(e. local venues- oll wothing io we hove O Irvsted h)yol oIFer gwd% seryw %uppw io OJlbJtol ¢ioi. We volue the experfvse ¥nd thul these A5soo<J1•5 bring io wr Methr& (￿r umwal (r￿ferer(e ond Trtide is o ¢elebtOlityl ol Our Trwkn5hip <omin9 g•NifflÈ opptsthritiw ore As cvr lknbers emwrgE th• ptssi-p¢ndemK climtste. li been 4ncouroglng lo see lo more live evtsn￿. lknnbtrs conlinu• lo thow their 5UPPOrt for us thr<Ju9h Omendor￿ ￿ther as de￿Vate* speakers or hts￿L CLI￿01 gro￿￿

(c¢)ntinued) The ye¢r io Mor¢h 2023 Stsw O stsody ond Positive Sntye¢se I Ovetoll w•￿￿e1$hIP endir¥ the yeo¢ on ts ligure 01402. ¢¢mpriSillg 285 M•mb•rs ond 117 Associil•s. This rÈPre￿n1s on iffl¢ras• of 14.5% ￿ar on yeor. Re￿nh<)n of thes¢ nÈw relat1￿75￿￿pS wni be o key of c￿r slrtiie9y grmng f(￿￿1rd. Membership inc.reased on dwing IFe yeoi wos exp(¥rti pwftyThng arts seoor. Trrf￿gh slrole9ic approach of fur9e￿d comunicarioni even15 thE <retsti¢￿ of o ￿lkI￿ we This yetsi we t¢¢k the slgnlli¢Ont slep of glrèamlining our rnember5hip Off￿ by pho%iDg <yJt r dd'Full Membef5hip'. ieploti it wilh improved ollet irflvding free o¢¢ÈSS to ottline A¢od•My of tiuining wur5e4 okngyde ijyr fv115uiie of resoui¢es ond iioinin Iernbethp by 88%. We will c¢JThtir￿ lo cr￿M woys wt c¢xn grcw our Mbers develop parMw5hips ¢md nKJke cu￿ra1 Enterprnes o'rnusk huve. rnernbeithip for oll ojllui tUtil￿ It w¢% encwro9ing to mony new Members joining Cultural Emwprises for thè firs1 li￿* this Year. Thi5 growth wo5 uchieved through cullivoling rel¢ti<m￿h1ps Oi Ir¢de f¢ilS. mark￿1n9 or rd of m¢)vih reC¢)nT￿dQriQll￿

Cultural Enterprises Conference "The Conference is one of the best in the sector and really does stimulate the Tnind to thinkbigger and lookto sector partners for best practice., Lucy Chilion, Visitor Experitncemanoger, Gloucester City Council The Cvhvwql Enlewises Cattl•￿￿¢ and Trpd• Shvw I4￿k plort this year at Harrogtsle Conv•nti•n C•rrtre 9.10 Mar¢h 2023. ProgpJmme, thark5 lo tht suppoif tsf the Noi￿￿￿1 Lotrery Hpiitruge FL￿. This gave on ¢pportynity to those thut would othtrwi5e fac borri5 10 Ottendiry ¢ alon9 offld benefii ihe learning opporlurHlies. qrowlng hEir knowledge and helpin9 sfWl9then the resilienc¢ of ihei orgorA301ion ¥..Mairi Auditoriu We were delighted ts See QLY delew￿ fi￿￿berS relvin to pr C•vid levds with o lrn ¢Jn ?022 and o 20% wtose Ahibitsr tyand& Chtr reach across the secKY hus ako gr￿, wjth 198 ojhwal org￿l￿TIOnS represen ra55 The ddegatei a I V/ Once agoin the leam delivered a Climttte P•sfftlve eve￿t, certilied by Earthlyi which ￿onI ihul ull spÈcts of delivery weie ¢orfvlly Wnsidered vt every stage. Wè a150 eng¢pd Eurthly 1¢ fflarpagÈ our carbon olfsening. The C(xbfererKe is delwed by Ihe Asswthon 0kn95ide ifs Irodihg yJbg010ry. This yeoi were ob o+Fer e ￿971F￿¢￿t Bur￿rY

Cultural Enterprises Conference (continued) Thw Tf•d• Sh•w hpd posihve •lnsosphere with new suppliers joining US ylong with $9 mgny gf gvr ¥oILd Associole Membef on oddilionol spaca lo shrmcase their prod￿1% and udding more visuol ￿￿ter￿t lor ovr dele9Ute Th Trad¢ show wos piomtsted on In5togr¢xn, iDueo%ing reooh by 26Vh dvring thi5 peritsd. with the Desiytt Ntsti¢n wll)bototi¢n being lop performing post. 9￿/0 of this yeor's ottendees 50id they wou5d recommend ihe C¢)nference WÈ a150 cdIabora￿d wnh D•s1gll Mii•n. nKhp rnokers (y055 0 Yotitly OF ortiSI dlsoplkne> This cdloboroiifyl Will ¢ty1hr￿ t• evdv< wd we wlll io parl￿r with ￿mi10r I￿1d curale a loryr goll•ry w• fcrfward. We have ambiliovs plans far 20?4. We will conTinue lo grow exhibitor ThJrnber% back to pre- Covid leve15 to oHer tsn inntsvytive prvg¢e55ive experien¢e exhibit¢rs ond d&gotes. basÈd on lèarnlngs frorn LwJr dota feedback. We Ore olie¥dy streon4ihing the exhlbitor expeiitnce. trid w• w511 continw to curole the show lo n5uie thol w• olway5 olfer our d￿gateS the be51 p0s￿ble ronge f 5upplier5 to work wjth. TrrrKI InSlylI￿1•Th wos bi99er fo¢y providity the opP￿1￿11Y for exhibilor5 10 wbmit produ(t% thot interpreed okng wjlh ￿5V￿1 boordk We fooJsed ￿ iwo <d ies fty reioil o settityl to )wUJse kids. trendk Ihs will be ploAied in#•lloith wil￿fft ihe Trod• Sho*. glwng our •xFdbiTor

Cultural Enterprises Conference (continued) w• njvy4d Iho opporlurlity lo ovi ddegthtss tsttd exhibilor5 4Jl o gveol TretwotkiTr9 even retoil. ectsknr(r<4 vtrue hir< laadèrship. Yisllor experience ond li(en5in9r with cleor them￿ of inno¥¢tw ond 51j5t0￿abI1l•Y runnin9 thrtsvghwi. Thi5 year tor th8 fir5ttvne th• Wek(me Diink5 wert witP¥ liade Sh(¥w Holl. trveosing ¢ppornAiitles lor de￿9)It$ ¢Ahibtiors fo nei￿￿k. Bad rffl fe•dba& plon lo ¢whr with lornyyt ￿ 2024. We wtyjld like ￿ thortk oll ov sped(èrs for ihe high quolity DI thÈir piesÈnlalions ond for being so geffleroDs with their Ilme ond expeiienc•, giving us inspififflg tslk5 ond engpging panel %e55iQn%. Speokeis <¢mÈ Ir<Jm o wide ron9e vf organisoiofis including (but nrl lirnited tol.. Co5tle Howard, Nohonul Portroit GOI￿vy￿ Mu5L ol L<Jndon. Bokèr Ri¢horL4% Notionol Theotre, Notional Tru51, English Herilagetr Carloon Mv5wm, 6runel Na￿[ Xorn 55<xiol•¥ Art Pl￿%•, Royal OpeTQ Htsu5e, SvpeT¢ooI, Kellle's Yord. Fo5hi<yl feitile Mu5eLXn. St Moly Red¢liHe, ItspoDE5e ATrwiCOrt NoN¢knol MUSeL￿ ohd The lowly_ The bwbfvl kwl Moll wos the ver•Je for fwi Awah4s Dinner. o Jgdy ￿j￿t&S￿l èvenl oJlfflinalin9 In o lot¢ ￿9hr di￿. We torthnue ty devebp the thrrt we are d¢lJvering timely ond r￿￿¥0￿￿0nl0nI •¢ross oll C¢Jff*Therrial adivities in S•£￿. Thi5 year a wide rThngt of iopKs wert covered i￿￿￿Thig (figilaL

Cultural Enterprises Awards 'It's a real pleasure and a privilege to judge such inspirationalwork, and wonderful to see the winners, reactions on the nightl 1> - Amy Haigh, Commerciol Lead, MonchesterArt Gallery O¥ei 140 enlties wete WK•Iv￿ Ivr this y•or¥ Awards. ¢•lebratiny (￿oI1VIty, innovatbon and tsl•nl in oyv s•dw prro$s prodvds, projeds and people. OwtsrdEd ID &M Howard. a ded￿ts￿ volunteer ot Ihe Biynel MuseifflL C¢nFerence delegQtes 01￿ Yofftd for overall Ihe People'5 O￿lC Aword. which went io the Migrallon l••Jseurn For thdr I￿grant hlak•rs Mark￿. Thank as alwoys lo c es￿rn￿ jLd9Bs th drew up thorlthl ol thret •ach ohd Fin - rKhly deserved ond P•ople's hoice r ttoptraes ot the fyferer GO￿ Dvifw the speooojk gJrrrwdin95 of the koyol Moll lrKredlb￿ toknt and <r•otTvliY In Ow ThI￿r Tr finol this yeor WOS re￿(￿ the fill Aword tvr OunfandKn9 &ffjiri&Jrion, of our wlgL¥ry CEO- hft.. GrN

Award Winners 2023 BE51 LIC￿%￿ Pioducl Notignul Trust x Mo5huhJ FO￿￿•ar 14lorsè Cod• Blankei PK Por7ho)mD Jes Ran9• Noh¢Jfflal Trwi x Sylvo St(¥45 I4￿10￿￿1 Trust Supplier Heritage Digital •st Shop The 8uriell Crllè¢tiOn Glasgow Museums Oe5t P¥tsli¢#ti¥n Tokyo.. Phptawu •st OThline Shop SI￿P.5hak•SpE￿￿es9IQb.cf￿n Shoke5peure'S Gbbe I•￿ChI￿1T•ft% PwWk•fi• A ol tht w￿1￿ Its 25 Cittes Jlll F¢mvi¢k Aword For Owtstfjndiny C•filrilKrfio Gill Htsword Cr•ahv• Comm•w(• CrTre Clo5sKs &Jbsuipii¢Jn Brili5h Li test i%IAg Slar o S¢bc2ok P￿PI•l Choic Awonl Migiunt Makeis Murket migr01h￿l Muswm Suthinobilrty Awl Fon*ly Kifrhth) s￿ o¥ol Garder&XÈw

Events Programme 'I found it really galvanising to speak to other people who are championingwhat I do all day. It was amazing to be able to take a day away from rny deskand think morewidelyand strategically." Ortline Mostercla55 Porticipont, 2022 Fr¢fft lop. Vijthil hlo¥f¥r(k Talkiry Sh¢p Yttrw. Aty61e In 2022-23 we devel•ped hybiid Events Proytomme. Wilh the mojoiity of even15 lokirw plq(e online ond q small number onsite. W•SPtsrtding t• ts cltar desir• •rnofig members to starl meeling in ￿15￿￿ g9Uin. CoDnl Vi5ityr Audn¢e Dgto I pr￿ Deyelopwt ond Vtr < Cowing the breoth OF Ctyhptshy. Be¢rnish Museum, LiY• ThÈatrè Nèwcastl4 ShakÈ5peare North ploykn￿, Nalional LiYerptsDI, V&A East, Historic Royal Palace5 ond L￿d(￿l Transpoii MuseLTr. We have ¢lso tropped ttE e4pETti5e of the wider 5e(tor with SPEokerS Ir4im BOP c￿￿j11￿0. Complete Works Inlernoliicl as th• Zoorn formut 15 50 ￿￿es￿b￿. Onyle eve$￿ indud¢d View Il Tty leoders itt Ihe sett thafirtg krt¢wW Swthery frlth o wide Y(Yiety of ¢JrgOMS¢ti¢xs ocr¢ the seC￿r indudin9 Bodlei¢n iA)rorie¥ lkner Briloffi Pknewn. botteryea Art5 6791 llvitraw Royal Shuke5p•ar• As olway4 we are 9roteful t¢ ¢11 our sp•d(ets who 9ive Iheii lime fieely 5hure their expertlse. (￿d we ore Tno5t gruleful ￿ oll delegOte$ their wihusiastic poitiopth sekne(l Takin9 5

Member Resources Trend Tteport To4¢Jred ￿ iffldi¥ldu(tl Yewir¢ment& Pr￿e￿I￿d ot c￿FerenCe bmu9hi io lif¢ the Tiofid5' In5tolkJTron, L¥Jr anwal Trend ep¢xi fa¢th thgi flwficè beh0vi￿r rmd . gJgge5ts hDw fo Ilon5Iofe tre ortl tolouf YOrS inlo prOd￿tt . rqpori Mode ¢YOiloble n￿berS at the Conferente The wtb5ite w￿1 rernuin o key tsl ¢yJr (Kbviry in hrturt. . expand existing producls, Qs well as rtew wodwt deYeloprn•nt ond Ion9 r¢h¥¢ plvnnjngi with tht uhimate of enobling 11 dienl t¢ ¢￿h￿￿e th￿r growih hidependenily. We h¢pÈ gr&w ' s areo lo support other Strunds of Benchmurking Our &enchmgrkin9 Report WOS publid in Febryory 2023. fÈofWing analysi5 of meft￿¢￿ dot¢ for thF financial ytai 2021-22. Th• .pvipo ol the wort is to collole ecommerce-consullancy The Associolion l¢vn¢hed on u)fflsuItC￿Y 5ervKe in . Morth 2023. The oim is to provide.: ¢pWrtV￿ty for those wvikin9 Ill. gJPWling Culivral to explore 5dutiDll5 t￿1￿ p￿ide a nEw to how to I￿rOvE un¥ eAitiiry rfflline thop runge. '¢reox-PlOviding figvie5 for mEmberS lo <(xnpore their .pertotrnorKe ogoittst. A huge thahk you thE 73 or9Un15olions who r+sp￿ded, 53 Ig5k yeoi. Find Ihe Trend Repori Benchma￿1n9 Reporl in ¢u The sery￿e is OvOiloNe ￿ both crmwoc4 Je¢•llS wpplier¥'

Mentoring Providing o Ivee mulchirbg Service lor Members, Ihe Mentoving Progmmme on+iThvg5 lo bv o ¥alugbl• membership behelil for Six mentees and six mentors. Purh(ipoDI5 fvll doy ol line tr¢jini￿ ￿KI￿ling o tr¢dUd1￿ its fflEntOriry o tho¢hirtg sesyty ore then given o Idl doy of ¢ind rnenw a holf day of and i¢fvic•. 'It's been an enjoyable and rewarding experience to be pait of this progtamme. I've had the pleasure of working with an engaged and brilliant mentee and as a fiist-time mentor I felt prepared for the journey from the great training provided. I'd definitely recommend takingpart." Hllnnoh Oxley, HeÉtd of Retoil & ecommerce, Royol BDraRic GarderJsKew The 2022-23 Cohort CFdpfO r4ition¥lrbqErnori41 ￿f￿YEtVrn York MIMI0 ArMYF￿ PAuS￿M VtsIp5KllenniyrnCenl Fe51WIlFN HÈadofRekl ChiswKk Hou5p4nd¢ardw51wl ManchigtéiArtGal• h+knsÈ LondonirtdGallÈryc.i.c Pts￿b￿￿￿r0Coa$iNl&OnaIPa A5hmoinW5eum Held dèfR

tBn unoc Cuhvrol ENte￿Il$t$ ¢gmmuniwlion5 c•nlinue to play ts key r•le ih Suppwling thg sedvr, keepirby members pr¢>ctic•s and Smovaflve reto11 ideak Our ￿￿￿br$ play a hv9e port itl Ctrttributlg 1¢ the bloop maklng 11 a r5ch, Vailed ond protticd re50ur(e for other mernbws tts lake ideo fro￿ . 15 y we1151oblIO￿ sourc• of restyxtts ond with Over svbscribrs lup 8% yeor ￿ yetsrl. ¢nd c(xNsitrNy 9h op•n rat•5 of up io 30%. WÈ hove s••n skeady growth on ol this yeor. Wilh reovltsr pos￿￿g thvJo9lng Insiogr¢m profile ¥5$5ts hove grow by ITQ% (and (yjr w¢h by o I￿resSive 683%. ConT•nt f¢)Jsse5 mEmber s￿le& shops ¢xnd products but we olso wel￿• POSIS Ihol COV•T othEr ar•as af C(ffjercial ociYjly. Th• CL4lural En1t￿riStI royers th• fvll spectrLTh of r￿￿1 oclivilv4 foCu￿n9 espeoolly ￿ proaL4 od¥Ke ¢md ueotiye vwir¢Jtityl. tr* rnw p)pJor Or￿e$ ho¥e od¥Ke w gJ#ohioble workknq

Museum Shop Sunday "We saw a big spike in online sales as a result of our Museum Shop Sunday offer and loved being part of a celebration of cultural retail on the social channels. - Ldtsro Pryke, Kettle's Yard Out campoigrb l• highlight retail spoaks iv ¢tsro valv•s ond conlinves lo gather mom•nlum Ihe sdor. for unique, dE5ign-led and ethicolly s￿l¢d gifts, ￿ wen os th• deslre IQ suppwi smoll Jshitsss and indepthideni deggner rnokers. h o1$0 porliclponts o plotbirn t• h5ghlighi th¢tr mllsbn ond volu•% gogemem wos high through the wmp(aigry wSth 0 55% intseg5e In wique vj5jls IV Cuhurul Enterpri5e5 web5ie r•cord-breaking email open ra 141%) click ral•%122Ofi1. In5t¥J#rum w45 Ihe rn¢5t u¢Ctsslul 5ocioI ch¢Thel with fantastic coTrf•nf from participan inveosed efflgpgemen? ond g Iph r5se kn Fdlower port ¢Jn SL￿¥ 27 No¥•mber 2022. ir￿lUding mor• 230 hi Over 2.100 -hops worldwide took port in Musetvn Shop Sundoy relail M all type5 vf art4 heritage portioponls if* 2022 ¥￿vded na11c￿al porkk &Aoy 1$ 0 greot bthind prodfft hwJhri￿1 9ifts tyid boost CPrfr5MO5 sole> 11 It•5 tn perlethy whh the den￿nd

Chief Executive's Summary A$ tho n•w CEO •1 Cvhvr•l Entevpiise¥ it is a g•nuin• pl•psvr• to r•viow thi$ r•port ond ¢el•bF¢rte th• 4¢hievemenl$ ol th• Assoei•ti•h •¥ef th• lasl F•nwkk. kn her Over the laK 13 yeotk She ¥es o great lego¢y. Ihul I reolly the Orgoni5ution 15 thal Tr￿￿bershIP wll trvly l)ectyY o bvYrtÈ$5 for the Culwrol 5e(1or. of th• fttrword will b• onsurkng we have oll the gh bJildig in ploce ptovide n￿be[S with wppori thls memberthp benefits thoi trdp ￿Jr SeC￿r to <halleny As trtll os h￿ahlY ttytsfded trid tyJr laurels bJt lo puth out%elve5 lo dElww Ihe <liTr2 Acadry. lin d•f•rniwl thul we will and R•Aqthrq on IPSO OIu51l'm pr￿d to YJY I￿￿1 wt ore one OF ￿lY 43 Drg¢nbSOh(#lS lo ochleve th14 owordl, 0$ wel os our hjgely SLYC•S51ul evenli pioqromm4 ￿ghlY rgard•d Conf•rMc• and Irad• Show, èxpanding mwnber r•sourc•¥ pre5tigiou5 Aword5 and grrWM membetshim it is ¥eiy de¢Jr thtsi I hvve token the rein5 yf o hme when the ¢rWniWtio￿ 15 in fm f•nle. MF0. oheod, these rarnin thalknglry for the uhurol clor, with the e¥qw. frylgible btyiehts to the s•clor thls thanthiging lin lookity forward ts workin9 whh Whng to kn¢w 0$ Trrfmv wernbef5 0$ PQ55ible. ond I hDP¢ Intend to meet rhory y(w. either ui your or oi C￿lur¢I btyprises eyenis in tv)5iw Cr￿ ol Imng uiii4 pr￿Vr￿ on Anolyswty leedbo¢k ¢dloied thi year. is d•ai th01 fflore 9Jpport ￿ Wp whh G￿￿￿ thalour pr￿PaI amn is to All thè v•ry be# for the rest Of best PricI￿• ￿ Ihe sqctor. il i It is ther•fpr• •nly right tho*1 thunk my FxedeCe￿0r. Jlll id•ai on o peer i• pwr play a rol• in hdp

Treasurer's Report Forlh• y•wending 31 Marth 2023 Whil# the yeoi gnlflcont grwth Sn Otyl¥iiy 2021-22, fv slill proved dIff￿tt for irading producin9 a deficit M￿rat￿ fr I•￿bors1mp conud•r thai Yaluat reyesefits foir ulthi5 i P5erve5 Policy eTve5 ore held ts l￿d wtsrktho ¢opioI. to Pmide resoJr￿s for fvfvre ottwit￿￿ to offstt ￿￿Seetsb￿ shorrfolls iti io the A￿1¢￿1 O9oln5t ynplomed odver5e event> Tr Trv5fe hotre Ideniifled the blbwlng key foC￿S Tn s•lling thè l•vd of r•s•rv•s.. da+ttys ore three Ilk￿ fotsirf¥ Rrdy the £45.CKM) prepoyhw th lo yeot's rel¢Mg 1(<V¥S for the ￿2? uy¥olliSed this ¥eor. Swdly. th￿ is as significant increos• maffibersFips poid in ad¥anc• lo a lurge of Pknrch 2023. Thirdly. the £IO.119 Corporofion Tox, whKh poid by the Irodi Icryany Ill￿ Yeor. will b• lully r•CO¥wab￿ du• lo th• i•v•l of s incwrod by the tradinq paTry Y￿r. ThBr• ar• of £97,662. 16% thE prev￿V5 year. Our •vents pro9rammp show•d good gruwlh fr¢xn tr prev￿5 year bul thll remained SiynifKu￿1IY Str￿t ¢f pr pondernic level¥ The 2023 Confere￿e ond Tiad¢ Shaw provéd io b• mor• sLKc•Jsfvl with delegate runbets and tiode 5tond% i( pre- PTOgre55 to be rrtode to re¢xh S WOS dve i( Cal knueose. Tr level of ¥dw5151y kn our bose M 2021-22. Afmr th Trodmy SLPPOrt Osty WlS a vwy smal tYerye¢s¢ in tolal SUPWf £0 ov•vall. th•se co olfmg row by 3.vh th of dopthidwKy on th• Conler•rKe ond Tradw We ore groiefvl Crwr<ll Englund loi th¥r ¢thffl Supptyi. We would olso le to odLnowledge th• £1 O.WO groit from th¢ Nolioftal LoW•ry H•riag• FL￿d whKh gTeoMy a￿￿%1¢d vur C￿ference bJ¥Stsfy progi0rn￿. ¢yr ned io the 0rgonMtK￿'1 fi¢Jnual r•sille￿ Qnd rfjbuild our of CT•dilor On tr b0￿rfe sheei th¥e r5 07 vohJokn of U8,220 rdoiing to th• ￿¥•&1M•￿T the retd to be better prepored for 55gnlflcfyit. W￿XP￿•d èw•nts tha vJuld have sub5tuntial detrimEnttsl i￿9￿(15 Ihe Ass¢ciQti¢l dlsappoknrirwa for th• year, orgaN5alirAI refflain5 totol rewyes 01 £330787. 140A inEr•as• over prevKw5 7eor. Thi4 h#ether wTlh the pr¢iett hos tsJtrtrttly be ploced ￿ Wd. The Tr4ues

Treasurer's Report (continued) Forthe yqav•Trthng 31 I￿￿￿h 2023 order to Our need t rneei •Jr rewyw poly req￿reMeM5. We to hold ￿J￿￿ent reserves other dwgnot•d f￿dS s•f Wt above to allow u5 lo respond ts riths hd QPP¢rhJnilie5 Ihy arise. Th• Asso¢iation n••ds li¢wid fvnd5 lor w¢)rkiry capital requiret11tr15 with fluduOt5ons In kK(#Y. lo oddress th1% we ho¥e iokw two ts three momhs of oyralkng •xp•ndilur• to ErEQte ts t¢Jrgel range É¢r of fréè rowves. Bas￿ curr•Dt eApenditur• this meoN we reed I)etWe￿ £13C ond £195k in free rew¥es. Gi¥•n tha w• had c￿ob1￿ eAporditur• in the eventol £l(X)k ￿ this fund12021.. £I(YYAI which will b• uF•d to fvnd ¢¥ LThlerwthe (￿Y fv￿r• i¥. Pttptyriry hf trdy¢￿e evetyts W• Qyde £21￿￿ for on IXI21: £6CI ￿ Fdd for hTre tsf higher rewvts in IhE ofverfflath of the andemi We huv• f￿d tha the ¢￿Te tffeth of th• Pond￿￿h￿t possed. Suwe asp•cts of Caw ¢>tti¥tiY ho% iii. De¥•lopffl•nlplons ond Inrrea5Tha supporl for mbership lffl order f¢r the Asstiooll¢￿ to muinTahn ¢ffeoit s¢r¥ices f¢1 rfferty ITr this p￿I.Punde￿r world. ts a to the deflot we ho seen nl 2022.23 htss t¢ o redLKed W vf gwwal Ther•f￿ this d•5igTrai•d knd ha5 b•w rdeased bo& to Mral ITr 2022.23. Hnondol Iwido￿. The Ttus*es rwe th eApltye woys to rnsiliwKe. The Assooal

Objects and Public Benefit The ASS￿lati￿ for CulTural EDleTpfi5e5 15 a charity P5tobli5hpd ty deliver wbli benelit ihi¢u#h the of XtèlI￿C￿ in t￿1￿101 irodkns which (￿rribU1@S lo th• l. To provide •dUEaliC￿ and tra￿￿fj fvr oll its W￿berS ¢Jrd pJblK irt the oThd herilage s•o0r. The ￿orIty call upon <￿￿derable vf expEni%e vio 115 Try5tee& enteinul experfs the 9w¢I membership. All are ncouraged To take advonla VF thi5 eAperti5e viu formol IroAIHI9 ond ￿lIne icpfla 0$ wem 05 nefworks conlacli faclita¥ed by thartiy's Othèr l•arnin9 and dvehpmenl opportunities ￿dUde.. Network￿9 at eyenls Tolking F¢rum5 Re%>uice LibTury induding model contitscts. podc¢sts. blo9 and 8eKhmorking repor ¢uliurol instiiuli¢ns ¢cross the UL sec￿ the l>enefii of the public by a&￿sling wdl￿ar¥ orgoiNJtlLW5 charih•5 to rnaAimi5e ￿1r reVer￿e by pro¥idiDg u forlm for 5harin9 mfornyJ1￿ QDd In plonDing and overseeing th• ASS￿l0￿￿'S orhYitie5 lor the year, the Trustee5 have gbven duE con%ider¢Jtion ty IhE guidonce pvbli5hed by Ihe Chtsrily C¢rrkni55i￿ reluling to public be￿¢111. The irusiee5 htsve ¢tylSidefed the ¢hority's OCllvlllt5 ¢¢jnlrib￿le fo our oim5 and ob￿11¥•5 ar• ￿lisfi tho1 the Ass¢¢itstitrl is delwerity benelits lo the rJHturol hrifOge se¢knr [15 rne organisations. Cultural Enterprise5 Award Forffjol rwo bufSOfy plo¢tt ¢fe ¢YOiloble oi etsch event d ¢yhe Ot e¢ch on ssie even ihe yeor. <over￿9 ihe cost of tht ddegafft ftt. Thes• are I￿lted tro one delegote per bv or#¢rtl50ti¢n. Additi¢nol bvrsorie5 ort ovoil¢ble for the annual Conf•ranc•. Ath¥itiesfvAthie¥in9 Obj•th￿S Thè AssoualKffj Pr￿1(1% and to its O wide rts￿ tsf C<Mwoo1 ¢divilS li￿1￿ wblithSn• licen>￿ WAJe hire. film IcK¢ti¢x)% r•¢il ond olÈrin91 hÈlps n fo Moxim￿e seW.9￿lated Masfértkis￿ defi¥¢red by expert Irainer Peer to peer Shjdy Doys Over￿ a wide ioige of Ceriifd CtyJises deliYer¢d through ¢>4¥ Acoderny Th• ¢Yrnol CfAifweKè.. The As￿￿1￿*￿￿'& choritab WIPQR5 ure port ol the chority'5 objeth 5tuled in rfs Article5 of A550u¢Jlion..

Objects and Public Benefit (continu￿) M¢mb•vihip Membership 15 5ubj•ci the ¢rilEriQ S•t in the Qotity's Articl•s of A5SOO•tw. BoTh Membe15 and Associvle5 are woirnly eDcouroged ￿ atre￿d events theeting% bvl volitlg 15 c¢hstitytion¢lly oll¢wed only to Mefftbor orgoniS¢h￿S ihrough their naminatèd rèpresenialiym. hwol f Priva￿ wofit and any C¢￿t￿oI ¢￿PU￿1ES. lirm oi individuoh thol Svppori Asso0￿￿￿7.$ ork. Non-profit, cUl￿ra1 Orguni%oKYF5 UK re u150 We￿￿ ty loin as FUndraI￿n9 The Assotialth by the subxiip7i￿s of ils TrwbEV¥ payrnents for edu¢OtiOn uthviliEs und wofits from Cuhural En￿p[l$￿5 ITradirtgI bmiled. We ore u15Q SUPWTed by Ans c¢￿ntil &9l¢hd_ Wt ￿)1 derlLe any fundia1￿ry (￿l¥￿ty Frorn the gwol wbfK (aid 0$ such w• ar• not subscribed Its ) Part￿￿10r of rewJlation. Membership is open lo any uhurol OrgQlli5olion thoi esioblishèd for pvbli< benÈPii ond herwiw ryffl f¢r profil. &xh or9oniS¢ti￿S ifKlude rnu5eurn galler￿5, libroiiq5 and tsrchiv hisloric buildigs affld h￿5•￿ Indvding iellg1L￿s build￿9¥ hiSl¢ri¢ gordertk lknbership Is optr io ony UK 20

Structure. Governance and Management Conslbtution The Charliy s c¢￿$￿ . of o Memorondwn ond Arthyes" of A55¢XigtiryL These were 5vb5equenly urnended ond COD501idaied In￿ o Single set of Aiikies af AssociQlion. Cuhuwtsl Enierpii£es ITrtsdin91 Limited ICETI is Q trtsding Subsidiary compony of the Chority esroblishEd by the Tfu5tee5 ih. 2013 In order for the Churity to expand its attivfties CaFry them txrt rnore profiiubly wth leys risk. CET'S athvies camprise principolly the Masierclosses gnd Conlerence. wlth any net operating proflis bein9 donoted to the Chorily unde¢ Gif Aid. The resulis of the comparny In¢￿ded wthin the Thtsrity. COnS<>lidatsd aCcOL￿1￿. recruitrqd by th• mans of 5erriw poy rfhAI the Association is o rnan¢r tor th• Fina￿& and Adrnini5trah Cornrnittse. knrfial salari•5 ur• OryaniMti•n The Trvsie•s delegme the (hcrity s day to day work gnd irnpLgrnenation of slrat•9y to the Chif Exeartive who is u fiAI liD￿ employee of the Charity ond Monopin9 Dlrethor of ihe trOd￿g ¢ompony. There ore seven fvrrtr empbyee5. websits em¢)il brOtsd¢￿t IMei¥iewed by o P￿e1 of Trustees expert tsdvi5ws for suilqbility. th• Th&?f Exeartive ond An grwol review ol salaries ￿ lmthrtaken by finorKe ond Adrninistrafv Clyrnnit￿e whKh lake5 into a(COLntr p•rformgrK¢. rnorkel raTre5 for similor pwtipn5 and E prevailiry rale of Nrflal?D All Trwt•q5 or• wrforrnqd of th•ir hgal r•¥bwbilities lo I Charity and of governaK• woctdures generauy. Futhr tr0th1g is giveii l¢J nEw OPPO1Trlm￿. Following TroiniThJ ctyJr5es ore delivered ither by staff frorn rnefflber orgaTh5ation5 giv￿9 their lirne free ￿ charge. or by industry profe55Dnu15 conlraded to the Ass￿lal￿Jn or CET. Accounta 5UPPOrt 15 provided to both rt A$￿￿1atiOn and CET by Sondra Silk Eookkeepiro. Secretarial oTrd legcl 5UPPOrt is provided by Bot•s Well eastr sts1tsri5 afwpJully. Artic￿ of Assotsth( ￿ the 2018 AGM. the Chority ¥ OPPOinl UP 10 Iwo irtdepts￿e perforrngrKe rekned poy membetlhip. tts its bDtsrd. re¢eive reff•jfterthK￿ frff their roles as Tritstees of the Asso¢iOhCL The #tsff teorn is soloried ond empkyed by the thorily. The A$￿￿011¢n pbyees ore olso empbyees Key Managemenl hvsonn•r Alwside the Trusree4 011 members of sralf ore w￿deWed key mon¢Jgement perstyyel given the aJrre￿ SCO￿ of the CThoriiyS operotiw This choThJe if chority grows ond will be reviewed tyfJo11y. AppoihlmNt ol TNt••S All Trustees Qre required to h¢wt one ¢f more tsl the skAk re9uired tts gtsvern. eer the Chtsrity efft<tively. Prospethve Tru5tree5 art

Statement of Trustees. Responsibilities The Tru5tee5 I¥tho aro a di<eCIOrS of the A$5ociarATr for Cvliviol Enterprlses lor th pvrposes of ¢¢)mpL¥)y lowl tsre responslble for preporiNJ th• Trv51ees' Report ond the finonaol #oiefflents in occordonce with opplKtsble low ond UK Accounting S￿nd¢)￿d5 Iunited Kingdorn Generolly Accgp•d A<￿4￿1￿g Pr(Krfcel. In pr¢paviThJ linrwal The Try5w ore r¢SpThi￿b￿ for Apprwed by Trustees on 09/11123 ond %gn•d on their behuL by.. r•quired tr. seled ￿tt￿bIt <KC¢YJntHwJ p￿￿0$ afKI opply thern con5islentlyi obsrv• method l¥KI principlqs ￿ the Cthariti r•cxds that ore yJfficient to thow and trxpla￿ tht churitablp ryxnpaThy ryKI the gTCUP' . trinsacliru t¥￿ disdas¢ with rea5￿able acllowed. wbjÈ(r tc ony moftrial depurtures dikned and in the I￿a￿al ￿aterne￿￿. prepure fin(wal the golThg corK•rn bo95 ￿1•5$ it Th?ppioylitsl Ic Pr•SL￿ thttr tho d￿r￿ubl+ wdl Compony law r¢quires the Trustees 0 prepar finoncial 51alempnts lor eoch tinancigl yetsr. Under copnpony law Ihe Tru#ees rnu5t not opprove the flnonclal stotemerfs t￿Y re 4ti5fied that they give Irue and fair view of th• sla• of alfairs of <horsiob cgmpony ond the group and of the iniorniTrg resources and uppliCQon of rekwrc• including the income <md expenditvr¢, of the chgritob group for tho p•riod. r•port hos been PTeparnd a<coidaice ith the speual prOYiSiOtyS for 5muII cfxhptsres der Port 15 of C¢mptsnies Aa 2C¥)6.

References and Administrative Details Fpr Cullyrql C¢mp)ny regisiered 06480720 Trp•slees Cotdif 8rt)wrt ICJOYJ Creutive Develowent MarvJ9Er Jo atirkson DirettoT of Divittsl Kori Co9hill I￿%$ De¥elopTrÈnl Manoger IrÈsigned Sep 20231 Gobrdu G￿d￿l￿ lef Executive (re￿g￿&d Stp 2023) OiS G4lberl Adfflini5trgtot Matthew Menderson ChiÈf EAeoJtive {ti¢whted Sep 20231 Zok tkn5(th FKrfthualo O'Danovan Head of Event5 Mwuilto LKY Ree5-Harri Membership m1￿7a9er KiDg5fon My￿5 Derek &nith ance Marbagtr tkn¢on &knith [rpyTrJNav 2022) Jowutwonh con￿￿￿1(a￿0r￿ & t•dia Manayr Rod Toybr loin Lowo Wright M•n¢Jptmeni Teum Pi Anders Dykes D•Ji Evangdidfjs Jill FenwKk Juli0 HepO1 kEgtStered Olfi¢• Prirt¢ipo1 Tiodir9 Ollic• Unli B7, ￿lharn DalÈs Conlr Castle Garde￿4 StonhopE 6i5hop AU¢klu￿￿ OLI 3 2FI S¢li(k•t tynd C•mwany Se<iel#ry BotP5 Wells LLP 10 Street Ploce EC4R I bE Risk Commil CaroliDe Br¢yTr )0 Ooik Jill (rtstprtd W 2023) GOrdC￿ Morrison loppwled S•p 2023) Kirs51(￿ Mylos Philip All•) Syk 5 Henson Close South ch￿￿h Enterprise Park Bishop Aucklond DL14 OWA Uhjty Tru# Sank Ploneitsry Will¥tholl WVI gDG

Independent Examiner's Report I repoit Its Ihe irvSteeS èxamination of Iinontiol %toterneDt5 of the Ass4xialion f Cultur¢l btttrpri5e51.tt￿ ') lor Ih¢ yeuy ended 31 Moi<h 2023. tstsli¢5 Att 201 1 201 1 A¢i'i. kn nfirm thot I qualified lo wderloke th• eAomin￿th bttuu5p I om rneffjbei of the knslilyie of Chorwed A{coL￿a￿lS 1 England and wa￿ IUEWJ. which 15 of the fI51ed bod￿￿ 9it 0'trn Lknd Ioir view whKh Is nol a moner ￿￿dered u5 parl of affl indowndÈni Siyd.. requirémÉnls of Compotss A¢1 2006 I'thE 2006 thp f￿(Ma1 ¢￿[ been wopored hi Ho¥5n9 SO￿3f￿a myself th¢t the occounts of the company arè required lo bo oudited ynder Pair 16 of ihe 2000 AO ond ole eli9ib1e lor independ￿1 exa￿l￿all0￿, I rèporl in rosp¢ of my •xarninaIi￿ of the horily's olcaL￿tt qs cgr11￿ wt under 58clhThl 145 of the I have comp￿￿d my ond prirtipkn of Ihtr Stgternenl of le[￿Th￿￿ed Praclice for ounting and reporting by harilie5 ap￿￿abl• lo chorilh prEpuring thwr accowts in (Cordo￿ with the F￿On￿OI Stundord appI￿ab Mr P W Lomb FCA Ihdependent Exorn￿er Allen Sykes Liffllled 5 Henson Close Bithop Authlohd DLI 4 6WA malt•rs hoyè t¢JmÈ lts thy otienli<Jn in with tr* ex¢rninotithi givAIg rne <CTJse to

Consolidated Statement of Financial Activities In¢lvding irKom• and expendrfvr• or(ounl F(r Iho yegv •ndin9 31 Mai¢h 2023 OOJ95 271￿4.3 130.074 lo2￿35 OOJ95 211￿3 136.074 2&3￿5 53J)44 edvr¢tlord oth¥hs Tradry 12J ??OXb3 304.789 473.94 304289 473.941 ?79￿30 391Tr9 Tolul Tol&l t￿id$b￿h￿lO￿*x￿d A3dA49 431.B71 All odivthe5 relote lo cwlKrtJiTr9 0pefatlc￿S. The notes on poges 28 to 35 form port ol these 3161

Statement of Financial Position For lh• y•ttv •Trdifi¥ 31 Marth 2023 io 51,353 38A99 113J 53 38 ￿an￿oI ho￿ been prepafed in ￿COrd￿NE with th• spetsol provIsl￿9 ft1 %moII Cfjrnpanles under Port 15 of tha Cornpani¢5 2000.The Tru#ees cor¢ider.thol the cornpany is •ntiled to •xernpfion frorn th• rqiNrement to have uudit under the provisions of 5echon 477 of the Componies A<t 2006 (kne Att'l and rnembers hove rv)t required the compony io obioln on W￿ae thwr respwityilie5 for cr4nplying with th rEquIre￿ntS of ￿PanIeS Act 2006 with ¥•spec to accoLYthng r•cords and the pr•porohan pf knanriol sat•ment D•b￿S Cathaibank & 81191 93.93A 410 54.924 352 ?5 49 272 346 38 year 39 3¢$950 3$? . The f￿ar001 5tgteffl￿ts were and 5iyd on Iheir b•haW by.. Corolw Brow￿ Choir. Auocioiion for CuknJr¢l Enterpr15e c(ry{￿ rryi5tr•d 06480726. ythpT .111/2oir 291 357 Chth luftds ilrrtel￿￿yed 434 357 T1 l¥nds 336 431 291 Th• nptr•s LXI PW5 28 to 35 ftsTm part of these I￿ntial iiremen 26

Statement of Cash Flows Forth• ywr•ndin9 31 2023 r42.I3B) 61.1 tum¥ pvld IlQ2.33 Paym2nlilo DEqL4ro 11SJPn (37 •qL4¥lllth ?JJ45 41q231 JBdO0 Thefftote5 frf pow 28 tr 35 fvm port of these lkn(wul stownts

Notes to Financial Statements Forlh y•argndin• 31 hl4rth 2023 ¢Ji rtony is the ornwni the CLYnpany would hov• b•qn wllllno io poy t• obt¢Jin serviQ5 or focilities of e¢ts)OThi¢ ￿EtIt OTr Th• open rnork¢f,. o ￿rreS￿dIn9 an￿nI is recognised in exwdltvr¢ In the perlod of rec•ipi.

diOfy Ore fidotsd by bos Th• Ilnon¢Sol slotrem￿ ho¥e been pr•par•d in a(￿rdanc• with A{c￿￿ttl￿g Repormg by Chorltlw.. 510iehW of RecorrThnd•d Prochce applicabl• Its ¢horilies preparirtg QC<¢unis in Oc¢ordon￿ with the Fin¢nuol Repothg Si¢ndord opp1S¢ob￿ in the UK and Repth)I of Irdond IFRS 1021 IChpriti•5 SORP IFRS 10211 (xnd th¢ Compan￿1 A• 2006. by Il ctympotty fDr portulur PO￿ The ¢OSfsoI roiyng oThd wch knds are <horged ogotstlhe speofic The vse of eoth [L￿d 15 sel in th• foth• emr￿OI R•￿rItted reserves 45 th 31 Murch 2023= £0 131 lknrth 2022.. £01. 1.2 C•mp•ny St•￿5 The thariiy 15 0 pA)li¢ bwefit entity prwil• by guarante regi5kewed" 91ond WI)￿ o regis￿ed <horit¥ ￿ Engtotsd l￿d Wole% The o( the compony ar¢ the pay 23. In of ompony bew the liability ￿ re5petrof (tr￿1¢ is llliutsd 0 £1 p IA knrom• The Charity v5es Vol￿tarY speokr5 as well us extra 1Sme ortd dtse5 te¢oyniS& thi5 i•rvK¢ ?5 o glfi sn kknd. ompany has onliikrneni t( the 0￿, it probabh thai th• received and The As¥xi¢ti￿ fw Cul￿101 Ent•rpris¢5 meeB ih• dofir11ic￿ ol o public beneAt enttiy FRS 102. Asws ond 1Sobiliti•s ale injtiolly iecogni5ed 01 hislorkol Ctssl Or Iran5achon Yalue LV) oth•rwiw stat•d in the r•knant acco￿1[￿9 poly. be reogMed idiobl¥. l.$ Exp•rfiluw• Ewtrditure is rttVgTr￿ed onc• thBre 55 0 legal or W51ruthve ¢bllgabon t• tronsfer btrfit Its o porty. il 15 pl•bob￿ Ihoi o tr￿sfer of benefrfs wlll be required li and the ¢rn¢urf of the obl59oii￿ con be rneo%ured rd5obly. is cloisified l￿di whKh ore Ov¥JilOb￿ for use atr the of IFe T￿￿••1. rectyniwd wlw Ihe ctyrpwy hu5 obp¢hYes tsf <ompffj ofyd The Stuiqrnèrrt ol FthiffiLi¥Jl ¢h rw)t been de￿￿￿ed Athwti•s ISOFAI and Stotqrrmfflt ol kn Oll*r FinrJncial PasitifAI c(￿s¢)11d0te th• finonaal skatwnerns <>f (harity and 115 wbsidiary tre w of th• cwy of Tho ikn IS F￿b￿• and thoie¢uKAr be meo$u￿ relSobly. Rt51rided knds ar• ILnds which

Notes to Financial Statements Forth• y•ar •Trdinq 31 Marth W23 by QO5¥ity. Th• ¢D5ts of eo<h ottiyity ore mode up OF the fotsl of direct <0#5 ond shored co 1.9 fix￿ ndividua1 fixed oss¢ts ¢Mting £230 or more are copitolSsed (ai CO51 and ar• d•w•clai￿ o¥er th•ir e5timthed useful econtsmic li￿% on g ttrpight li￿ boSi5 05 fdlows.. ortd and sfvhrtory re4L¥iernnl bo￿5 be l￿d M th• Pdici•L undert¢king eotwle OtytvSiy ore opportkffjed beiween thos• octivili•s a bosi COn5151qnt with th use ol resourc￿ C•niral slafF cosls ar• ollxat•d eguclly b•Thween th• arity and ccfflp¢xry. CJovern¢rKe cast5 ore Kurred orb the The Chorily hos iokth oO¥Orttroge of tho co￿0￿ned clicffj 408 of C&MpOn￿ 1.10 De&0f5 Trade aDd ts11￿ d¢blOrS ort recognSsed ¢t the stherneni orbKWi ofter ony tiode diS¢(thr oHered. Prepoytyhts ore valued ot the (4moLmi piepoid Of ony trode dlsctyfft ¢4 lrt wepority Ats￿J1 Re TrUS1e￿ ho defiui for IhE yeor ITr the t¢SlS ¢)re illojrred seeking ¥dtht¢Jry c￿1￿￿1￿￿$ ond do irfhJde the of dlss¢rnknoihig infornofb￿ in wppori of th• chorituble ¢xliYiliek &Jpport t•515 Ore C￿1$ ifurrtd dirttrty suppoit of exp•idiwre <An the Qbjefft of the uxnpony ond I￿Ude projett monogenw. G¢vernonre Costs ore Inujrred in C￿etti¢￿ With IO o period of st 12 dL)tso1 opprovol of thes¢ fin¢wwl sla•rnnls and ￿71 ccffjhnu•to et 115 S￿bill￿e￿ fall £652712022.. £74.781 d•fidl. 1.1 I tash lt hank and in I￿nd Cash a* bar& and hand irtdvdts <osh shori term hI￿lY 15wSd In￿5￿￿nIS wSth 0 thtsrt miiiwITy OF thre¢ months or 5s from th• dal• of acquisithn r opening of the depD5i1 or 5inilar ert5t knd5 hdd dyut reoched this b05ed the 0¥0#ob￿ rweryes os oi the end ol the yeor. l&dy nd reve￿J￿ OF yeor. Fvrthw detalls r•gardM￿ th• r•liably by the ￿pOny.- nrprrnoly the Interw Poid w pO¥ob￿ by the

Notes to Financial Statements Forth• y•ar •Thlino JI ￿ll￿h 2023 1.13 toyther wlth pasl experien￿ ond •xp•dahon5 Qt uob51i1￿S ore re¢¢gnised when Iher 13 on obllgth¢Tr oi tr¢ 6olan• ￿et 0$ a resuh ol O Fa51 event, it ￿ probabletha c tronsfei of benefil will be r•quir•d in sothemwt. and th M￿n1￿f thE letheffleni be esiTrn¢ted Ydiobly. ore r•cogniséd at the omwi that th antiupot•5 it will puy to Settle the ¢lqbt or th• ITr h05 recei￿1 as odvanod poyftws for goods or servic•s it rnusi provSd¢. Pro4Nor re measured at bt51 estimotè ot the reqL¥r¢d tro xltl• the obligation. Wh•r• Ihe eflett of thp m¢ney Is moterSal, Pr￿S1On Is b¢sed ￿ the pr5en YO1￿ of th0￿ omount4 diSt￿n￿d pr•ox diX¢Wi rtht thot refieos the risks SPKilkto the liobility. The unwlnding of the d￿¢￿1 Is r¢cogn55ed wlthln interest poyub￿ ond sknilor Chorge The <(ry(xny tyily hos eB fin¢wol l￿bIlItieS OF ¢ khid guolify os b05k be w$wob￿￿￿(j￿r the AchJoI regAts hJhJre cwld dthr frcffl Insltlw￿ ¢Jre wmhaly r¢wgrM4ed lil trans￿￿￿ exwtw of t to bE fflat•rial inl•r•5T rnell judg•rn•nts k•y •slIn￿li0￿ uM•rtainty In prepoiiTrg thÈ fin¢wol 1.15 l•tir•m•nl <horyd 05 they re￿￿ed to moke e#Aiwes ¢ a5ympli￿s ¥Jff¢ct ossei4 liotsliiS (f￿v￿•01 0$5ets tsid liobilrt U* ol Qvoi1oWe

Notes to Financial Statements For lh• y•llr •ndiTr9 31 Iparth 2023 2. M¢mbtrship5 Gr¢Jnls 2022 Fullrn¢thrthys oJpJ 53M4 262.6ts 224303 95 GrqM5IAphCthYd Gr 201W 201.613 435 i2725 211 643 391 e48 5. InvtSlrrnts 3. Ed￿(all¢inal Activ￿1￿$ 35.96S gffi5& T4 12$4 X22 la&074 103.264 .144 ?95635 2B7 450 22 Thè chorby lo thÈ whts thtir ÈrvKè5 nd IDr Iree ow lllr

Notes to Financial Statements F•r•h• Y￿r•n￿￿8 31 lA0￿h 2023 7. Direct ¢0515 14.?25 15AJI 94J 67.336 3.147 B.943 prof￿￿ f 141?4 t&i24 264 Vg3 I i JSJ 14.92P 495 7$ SJ57 5323 4.958 4495• SA57 5n3 i?io IFP27 5216 Miij Im3 2JiO 17J¥J iBd.ii 15 J6s 16767 13 4013 $2 295 30 295

Notes to Financial Statements For ihe ymr •ndiThg 31 Matth 2023 9. StqFf C051s IQ Tangibl• Ftx•d Assets-Gmvp & Ch•rity Gmup Wv9¢56 lei.199 IOJO7 181.e07 Isj IW2022 As￿2 15.399 4a002 15.319 At31 l•xoth2023 y•oi frAk>￿. Iq3U3 2J45 45 2.$45 2.545 31 939 J31 SIA5J 5l25J iJJ 279 £éO.¢K¥J£64.999 I l. D•blors thÈ tthttl [15 of UOX979. 26.2n 24164 1056 2AM$3 No or T￿1￿¥. ¥ffj5wMI LY dÈÈrtd wy¢b 273 27J98 6.482 273 2?.7P8 440 74

Notes to Financial Statements F•1 th• y•or •ndlThg 31 12. Cvedi1015.. Affloufit5 FalliTrB DL*P Wfjlhin Ye•t 14. Al￿￿¥5￿5 01 N•t A55•t5 Fund5 T￿￿eCTed￿j 13.b61 4282 49.Q56 14438 8￿33 2.9S3 ?5J&5 1350 3BJ9 $04.145 374368 188.934J 374.36B 88.P341 0th2rcr•dlifrts 2.953 33.10 2.gJD l J53 35J14 1250 A2￿70 22167 336 33é 43 54 13. Summary OF F￿nd 3.124 340.74& 150J17) 3.124 34é.7 4.2BO 407.549 74349 949 7WII i?6rn 15. Relllled Party Transa¢ti0fiS TOTAL

Notes to Financial Statements FDrth• yar•nding 31 Mry￿h 2023 16. Pnntipttl Subsidioi•s hural lfihryls•1 ITrodlng1 &JbiWh7ry C¢mpaw r•9￿Hr￿ w 0869(N)77 Etyily % 10 C¢ Jo Clorkkln lill Fefflwi& 29 StpfvA&r 2023) My Thè nol oK•ts lor th• y•oi d•oh •l tracc<w4s of th•x&ithury ￿ £45a23 £77.36 lrthè yètsr of th￿bIldI&lY ￿dIrt0k￿Vj £32.03S12021. V7JS? 17. Cash {A￿0rb￿ byllGeneratedfvtyrn Opewfjh•nS un 1.917 104.382 15839ffj 21kn2 IY.iè3) Toxovthichorwd

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