2023-03-31-accounts

The Bury St. Edmullds Theatrp Man<igement l.imited IA company limited by guarantee and not having Share capital} Report and Financial Slalemenls Year ended 31 March 2023 Cornpany nLJmber.' 842455

THE BURY ST EDMUNDS THEATRE MANAGEMENT LIMITED (A company limited by guarantee and not having share capital) Annual report and financial statements for the year ended ?1 March 2023 Contents Page.. Chairinari s Report Report of the directors Independent auditor's report Consolidated Slalemenl of Financial Activities {including income and expenditure account) 18 Consolidated Balance Sheet 19 Charity Balance Sheet 20 Consolidated Slalemenl of Cashflows 21 Notes forming parl of the financial slalemenls Directors R Quince {Chairman} S Wliybrew E Fisher Piccaver M Codrinolon Fernandez E Michie G Kirk B Lilllefair J Ho￿ett Chief Executive aiid Artistic Director O Calverl-Lyons Company Secretary and registe:'ed office P Turner Weslgale Street, Bury Sl Edmunds, Suffolk, IP33 1 QR Company iiumbor 842455 Registered charity number 242977 Auditors RSM UK Audit LLP, Blenheim House, Newmarket Road, Bury Sl Edmiinds, Suffolk, IP33 3SB Bankers Lloyds Bank Plc, 9 Bullermarkel, Bury Sl Edmunds, Suffolk, IP33 1 DB

THE BURY ST EDMUNDS THEATRE WIANAGEMENT LIMITED {A company limited by guarantee and not having shale Cdpilall Chairman's Report l am delighted lo say Ihal the 202?123 financial year was a very positive one with most things returning lo pretty well normal with some notable achievements. Staffing levels gol back lo full complement Thiilh sc)me great new appoinlmenls, easing the burden on some of our senior staff, in particular Owen, and putting us in a strong position for the future. We produced some fantastic own productions, not least the Panlo, which as well as delighting audiences engaged many young people on stage. Our community and education work expanded, area5 that the Boar(5 wants lo see develop further in future years, and youth lhp.alre is thriving. Thanks lo 01 Ir very SULcessful ovjn produ¢liuns and thoughtful and high quality programming of visiting artis15 and comprinies box office income increased significantly, giving us some breathing space after a difficult Covid and posl-C,ovid period. Vve continued lo be blessed by the finatTrcial support we received froin public bodies, donors, patrons and sponsors. Despite the pressure Ilial they themselves were under our two councils Iwest Suffolk and Suffolk County) continued their grant funding al very similar levels as in previous years and our business sponsors were even more generous. The Board are deeply gratefu5 for this support, wilhoul which we would have found il very difficult lo undertake the range of activities that we did. None of what we achicved during the year would have been possible wilhoul the huge eflorl all our staff, and the support provided by our many volunteers. I woiild like lo thank them all. Can l also express my gratitude lo my fellow Iruslees who not only seek lo ensure Ihrough good governance that the Theatre stays on Iraok bul 2150 provide practical help in all sorts of ways. Since the end of the financial year we learned that we were lo be granted National Porllolio Organisalion INPOI status by Ai Is Council England. This achievement is leslimony lo Ilie great work that Theatre Royal undertakes land of course the high Quality of our bid). Not only does NPO status bring prestige il also provides financial supporl lo allow us lo further develop our work with schools, young people and our broader community. Looking lo the future, we are investigating how we might develop oi. acquire some additional space for our youth and community work atTrd also for reh?arsals The lack of such space ha:. been a growing issue for the Theatre and as our aclivilics incredse this situation will only iworsen. We are not yel clear how this issue might be resolved bul hope that by this lime next year we will al least have a plan a5 to how we might proceed. Roger Quince, Chairman

THE BURY ST EDMUNDS THEATRE MANAGEMENT LIMITED IA company limited by guarantee and not having share capital) Report of the directors for the year ended 31 marc.h 2023 The directors present their annual report together with the audited financial slalemenls for the year ended 31 March 2023. Structure, governance and management Governi17g docLinienl The Charilablc Company was formed on 24 March 1 g65 to manage the Theatre Royal, Bury Sl Edmunds, which Is sub leased from The National Trust. The Charitable Company is a reoislered charity, has no share capital and Is limited by guarantee. Each member of the Charitable Company is liai)le for an amount not exceeding £1 and lolal members may not exceed oo. Organisation The directors of tho Theatre determine the general policy of the Charitable Company. The day lo day nianagemenl of the Theatre is delegated lo the Chief Executive and Artistic Director and the Senior Management Team, with the support of a sub-commillee of the directors, the Finance, Risk, Audit aand Resources Committee IFRARI Further delai15 have been given in accordance with Charities SORP FRS102 and can be found on page 2. Appointment of directors The directors of the Charitable Company are ils Iruslees for the purposes of charity law and throughout this report are collectively referred lo as the directors. They serve terms of office in accordan¢e with the Charitable Company's constitution and are appointed by the directors themselves. Directors ai e recruited through open advertising and interv￿eW. Prior lo advertising the directors carry out an audit to identify gaps in expertise or reprpsenlalion among their number and advertise for suitable candidates a¢cordingly. The directors of the Charitable Company who have served since 1 April 2022 or dale of appointment if later, were.. R Quince A Wayne (Resigned 181111221 B Lilllefair M Codringlon Fernandez B Howard IResigned 191101?31 J Howlell IAppoinled 161031231 G Kirk E Michie (Appointed 251061221 E Fisher S Whybrew S Henderson {Resigned 1810Jf1221 M Piccaver (Appointed 161031231 The Directors meet bi-monthly. l)irector induction and Irairiing New directors unt5ergo an induction which provides Iheni with Information about the organisalion, ils work and aspirations, their legal obligations under charity and coinpany law", the conlenl Df the Memorandum and Articles of Association," the committee and decision-making proce5se5," the busiiiess plan and iecenl finaiici81 performance ol the Cliarilable Company. They are also invited lo meet key employees and discuss aspects of the Charitable Company s work relevant lo their expertise. Guidaiice and induction is given by fellow Board members and the executive team. The Charitable Company works closely with Greene King pl¢, the ultimate owners of the Theatre Royal building, and the National Trust, wlio lease the building from Greene King and lo the Charitable Company. Tl)e building is a National Trust registered properly. The Charitable Company was in receipt ol annual funding from Suffolk County Council and We81 Suffolk Council during the year, both of whorri appoint observers lo the Board. The National Trusl also appoints an observer. PriiiGipal risks and unGertaintiFs The directors review and approve a budget and ijpdale the Busiriess Plan of the Charitable Company annually. The Business Plan looks al a period of up lo five years thhead, and ils associated process is undertaken every three lo five years and is a comprehensive and strategic plan selling out the major opporlunilie5 available lo the Theatre and the risks lo which il Is exposed. The directors assess the major risks lo which the Charitable Company is exposed lo salisly themselves that systems are in place lo miligale, as far as is practical, exposure lo identified major risks. The Charitable Company has a Risk Register which is periodically reviewed by the Finance, Risk, Audit and Resources IFRARI Committee with any area5 thought to be a major unmiligaled risk brought to the allenlion of the full Board of Direelors. Included in the Risk Register are issues that the FRAR Commillpe

THE BURY ST EDMUNDS THEATRE MANAGEMENT LIMITED IA company limited by guarantee and not having share capitall Report of the directors for the year ended 31 March 2023 (continued) consider lo have the highest risk profiles. These are listed below together with actions lo mitigate the relevant risk., the fesulling miligaled risk level is dlso shown. Risk Level Mitigating action Sufficient funding resources reserved lo sustain core staff for a period of 6 1nonlhs, Investigate and lake up any and all relevaiil national & local government financial and other support. Create and follow a robust maintenance plan. Develop and implement a strong purposeful communication slrale To actively work and build enhanced relationships with funders. Regular monitoring of H & S practices. Training for 51aff as necessar Hold regular reviews with funders lo assess likelihood of reduLlions in funding. Implement an annual reserves policylprocedure with a view lo gradually growing the charitable company reserves lo balance ublic subsid over 5 ie2rs. Knowledge of norm rates. Build team approach with staff and maintain overall workin environment. Theatre Safeguarding Policy. Staff training, DBS Checks. External licensin where re uired. Closely monitor bills. Implement regular cost analysis and usage comparisons. Closely monitor visitor numbers and trends. Regular reviews of pricing slruclures. Develop and implement a strong ur oseful communications slrale Skills and knowledge sharing sessions held bi- monthly between tecims lo avoid silo workiiig and sin le ownershiE.of knowled Mitigated risk Mediuml High Unable lo operate the theatre physically due lo circuimslances out of our Control. i.e Pandemic Flu, Natural Disaster and maintenance issue. Unable lo grow 2nd diversify our Audiences Reduction of revenue grants High Medium High Medium Breaches of Heallli & Safely Low Additional loss of public 8ubsidy in- year deslabili5ing the operational plan High Medium Salaries & fees falling below industry norms Child and vulnerable adult protection Medium Low High Low Impact of Cost of Living and Ener9y Crisis and high inflation High Medium The organisalion is unable lo meet operational objectives due lo the loss of ke staff Medium Low Public ben&fit The directors have referred lo the guidance contained in the Charity Commission's general guidance on public benefit when reviewing aims and objectives and in planning future aclivilies. In particular, the directors consider how planned a¢livilies will contribute lo the aims and objectives they have sel. Directors consider that public benefit is achieved through the following slralegie5'. Offering a wide range of artistic programming, aiming lo appeal lo all sections of the ¢ommunily', Support lo education, the community and amateur sector. offering space and resources for their productions and aclivilies". Programming captioned, signed and audio described performances, and relaxed perforrllances where possible, enabling deaf, hard of hearing, visually impaired people and people with dementia and other disabilities lo enjoy live theatre-. Providing access lor wheelchair users and those with mobility difficultie5', Offering a wide range of heritage tours and talks in and around the Ihealre,. Delivering creative workshops with community partners working with minority, vulnerable and disenfranchised groups and providing enga9emenl wilh the work on stage and wider opporlunilies offered by the Charitable Company.,

THE BURY ST EDMUNDS THEATRE MANAGEMENT LIMITED IA company limited by guarantee and not having share capital) Repotl of the directors for the year endp.d 31 Idarch 2023 (continued) Working with schools on curriculum and cultural engagement projects al the theatre and in schools., Providing drama and theatre activities for people of all ages and ability al Ilie theatre and in commuiiily venues enabling a wide range of people throughout the retjion lo benefit", Offering subsidised and free places available lo those in need., Offering a broad range of lickel prices, and further concessions for largeled groups, lo enable all se¢lions of the community lo access performance5 al the Ihealre. Objects and Activities The mission of the Charitable Company is.. Entertaining, exciting. enriching creatively L&ngaging audiences. The Bury Sl Fdmunds Theatre Management Limited,. r charitable objectives are lo.. 'promol&, m&inl&in, improve and advanc8 educalion particularly by the production of educafional plays a17d the Ql?Gouragem&nl of th& Arts including Ilie arls of drama, ballet, IT7USiC, singing, liferalure, sculplure a17d iJainlii?g and to formulate, pi"epare and @slablish SGhe177es tliereforo provided that all the objects of the coinpany s17all be of a charitable nature. The Charitable Company is commilled lo deliveriiig great 'l-healre for All, through the presentation of a year-round, high quality, entertaining programme ol theatre an(S other performances al Theatre Royal Bury Sl Edmunds and acros5 the region. 1115 commilled lo bringing the be:-,I theatre and enlerlainmenl lo audiences and conlribules to the national arts ecology. The C.h8rilable C*ompany works in coll-boralion with ar1151s and partners lo ensure work of the higherl quality is accessible for people in the region.11 offers emploympnl, learning and creative development for artists and 11)e wider community through ils parlicipalory, artistic and education programmes. The Charitable Company manages the Theatre Royal, Bury Sl Edniunds, a unique, inlimale, 350 seal Grade 1 listed building and National Trust Properly silualeo, iii a historic town in Suffolk and the only theatre biiilding re- maining Irom 11)e Regency period. 11 therefore h2s an artistic dnd historic role lo play within the cultural and educa- lional landscape. The aims and the activities provided are designod lo". Develop the quality, diversity and reach of arlislic, community and education work. Increase and reach more audiences and develop Ilieir engagement with the Charitable Company's work. Provide excellent customer care across all areas of op£ralions. Increase the income generated and piovide sustained investment for operations. Provide cultural leadership within the region. Further the skills and abilities of staff and volunteers,

THE BURY ST kDMUNDS THEATRE MANAGEMENT LIMITED IA company liniited by guarantee and not having share capltall Report of the directors for the year ended 31 March 2023 (continued) Achievements and Performance This was our first full-year of operation since the global pandemic and continues lo be a period of recovery. We have focussed upon building our team back lo pre-pandemic levels. This has included the appointment of our first Head of Producing, Zoe Fox, who has significantly improved our ability lo produce high-qualily, in-Fiouse productions. As a result, this has been a prolific year as we produced 4 in-house productions, 2 co-productions and invested significant additional resources into our productions by children atTrd young people. This slralpgic approach lo 'produce our way out of the pandemic, through big and bold pi"oduclions has been a success. We allracled 76,953 audiences Ihis yoar, a 380/0 increase on last year and only 100/. below our lasl non-covid affected year. This is beller than the national average of 15-200/0 below pre-pandemic leve15. Our success in altia¢ling audiences back lo the theatre is leslamenl lo the skill and passion of the entire Theatre Royal team of staff, Iruslees, artists and volunteers. Our approach has been further validated by our successful application lo become a National Porffolio Organisalion of Arts Council England from 2023-2026. Own Artistic Productions rhe SeGret Garden by Nicola Werenowska Our annual Community Production goes from strength lo strength. This year's production featured 26 young people including 6 children playing the lead roles, supported by an excellent cast of 4 professional actors. This was the first play Commissioned by our Commissioning Circle, with five local donors covering the cost of the commission. The play was written by East Anglian playwright, Nicola Vverenowska with an original score by Ivor Novello Award winning composer, Oliver Vibrans. Feedback for the production lias been overwhelmingly positive, with the Bury Free Press describing il as 'a stunning success,. The Legend of Robin Hood by Chris Hannon This year's pantomime was a huge success and was norllinaled for four UK Pantomime Awards (Best Script, Best Costume, Best Newcomer and Best Pantomime Under 500 Seats). The production featured 16 local childreri alongside a professional cast of 7. Audience feedback wa5 particularly positive, reaching a Nel Promolor Score of 88Q/o. Suffolk News said "The Legend of Robin Hood delivers on every level.. humour, stellar performances, a talented young cast, strong vocals, a lighl script, simply stunning costumes, oodles of fun and plenty of custard pies. What more could anyone want?. The production allracled an audience of 24,734, a 100/0 increase on last year. Where s Santa? by Owen Calverl-Lyons To complement our pantomime we constructed a log cabin in Bury Sl Edmunds Town Centre (Charler Squarel lo house a new production for children under 7. This was a beautifully designed and professionally performed, miniature play120 minulesl, created in partnership with The Arc Shopping Cenlre. The Christmas Cabin was designed lo engage children who are below the largel age of our pantomime. It was also designed lo give Theatre Royal a greater presence in the town centre over Christmas. 1,543 people attended the production, 540/0 of bookers were new to Theatre Royal. The Children by Lucy Kirkwood No.3 in The Guardian's .50 Best Plays of the 21 sl Century,, Lucy Kirkwood's play explores generational responsibility in the aftermath of a nuclear meltdown on the East coast of England. This award-winning play from 201 fj formed parl of our Artistic slrale.gy lo stage the best play5 of the past len years. Our high-profile cast featured Imogen Stubbs, Gillian Bevan and Michael Higgs all of whom gave powerhouse performances. Our East Anglian creative team included new collaborations with Sound Designer, Helen Atkinson and Lighling Designer, lan S¢oll. The production was designed lo allracl our Drama Audience back lo the theatre post- pandemic. 3,208 audiences allended the production, a 23Q/o increase on 1Sie same slot last year. The Bury Free Press said, 'This &xcellenl The2tre Royal Bury Sl Edmunds gripping production leaves you pondering one's very existence and futur&." The Birds and The sees by Mark Crawford An last Anglian co-production between Theatre Royal Bury Sl Edmunds, Theatre Royal Norwich and New Wolsey Ipswich Originally staged in Canada, this comic story of environmentalism was relocated lo Norfolk by local playwright James McDermoll. This production has helped lo forge strong relationships with two important regional Ihealres and paved the way for future co-productions.

THE BURY SI EDMUNDS THEATRE NIANAGEMENT LIMITED IA company limited by guarantee and not having share capital) Report of the directors for the year ended 31 March 2023 (continued) The Lies You Tell by Yolanda Mercy Through support from Suffolk CDunly Council and Suffolk Mind, we were able lo cominission Suffolk playwright Yolanda Mercy lo wi'ile a new play for young people. The Lies You Tell was co-produced with Highlide and New Wolsey Ipswich. Tlie play was designed lo improve young pp.ople's mental health following the pandemic, encouraging young people lo talk about their mental health and seek help when lleeded. Vi.8iting Productions Amidst the huge challenges facing tho touring and independent theatre sectors, Theatre Royal supported a huge number of productions lo lour their work lo Bury Sl Edniunds. Highlighlc of (he year included Boeing Boeing by Londoii Classic Theatre, As You Like It by Northern Broadsides, Slierlock Holines and The V&llpy of Fear by B12ckeyed Theatre, The Canlerville Gl?osl by Tall Stories, Shakers by Wakefield Theatre Royal and Tiine & Tide by Relish Thealro. Creative Learning SENsory Youth I healre Our first year of delivery of non-verbal youth theatre for learning disabled and neurodivergent children aiid young people, in partnership with the Geevvizz Charity, has been a great success. ltye liave now re-branded Ilie groups as SENsory youth Ihealre. "Oiir child 17as l?ad a wonderful lime enjoying every session. Her self- confidence has grown with eacl? week, so n?uch so 11?al during the fvarin up, she tiles lo lead fr17e activity. Sl?e has made friends with all the olher children atlendi17g and the staff. She has becoine so relaxed thal ear defenders are no lonoer needed during the sessions. Youth I'healre F-estival Members of OLir four youth theatre companies look lo Ilie stage lo perform in Stay Brave Brian C7ravy by Carl Grose and Brighl Young Things by Georgia Chrislou. This year we raised the production values and arlislic ambition of these productions by employing Designer Isabelle Nicholson to work with our team of Youth Theatre Directors. Tiny Plays, BIG IDEAS 2 Following the 8uc¢ess of last year's pilot, this was the second edition of this education projerl, funded by the Periscope Cultural Education Partnership and Arts Council England. The project is designed lo improve literacy and self-expression and support primary school pupils most affected by the impact of Covid-19. Thedlre Royal sent a team of playwrights (lain Gonoude, James M¢Dermoll and Killy lthorganl into 13 Suffolk primary schools lo leach Ihem lo write their first play. 380 children look parl, each submilling 3 play, from which 12 plays were chosen lo be performed by a casl of professional actors on the Theatre Royal stage. "Our Ghildren absolutely loved being involved in the theatre intervention. 11 really brought some our pupils out of their shells and gave them an opportunity lo express themselves through performing arts. Doorstep Festival Now in ils fifth year the ACE-funded Doorstep Festival toured children's theatre productions lo schools across Suffolk in parlneiship with Half Moon Theatre. This was our m051 ambitious year lo dale, with additional funds provided through Suffolk County Council enabling us lo co-produce our own production and lo reach significantly more schools. We toured Party IKS1121 alongside our co-production The Lies You 7ell which enabled us lo reach re¢ondary schools for the first lime on this project IKS2131. These productions toured lo 31 schools across Bury Sl Edmunds, Stowmarkel, Newmarket. Thetford & Sudbury and engage(5 3,389 children. This year's festival also included two Suffolk libraries for the first lime. "The performance Ihal we walGhed was the first Iin7e we 17ad had visitors in school for 2 very long lime. The children were so excited lo be walching the performance and were captivated throughout.

THE BURY ST EDMUNDS THEATRE MANAGEMENT LIMITED (A company limited by guarantee and not having share capital) Report of the directors for the year ended 31 March 2023 (continued) Financial Review The Group's Slaleinenl of Financial Activities shows that the Unreslricled Fund has seen a nel inflow for the year of £40,532. Total Unreslricled Funds 3131 March 2023 are £697,129. In the year £68.633 has been transferred from the Unreslri¢led General Fund lo the Unrestricted Designated Fund. Al 31 March 2023 Unreslricled General Fund had increased lo £492,265, the Unreslricled Designated Fund had increased lo £204,864 and free reserves stood al £194,379. Al 31 March 2023 group nel current assets stood al £459,374, an increase of £1,089 from £458,285 al 31 March 2022. The Directors have reviewecl the issue of going concern once again, with the steps taken by the Board to assure themselves of this together with explanatory notes are shown in Note 1. The Theatre continues lo be supported by agreed revenue funding from Suffolk County Council and Wesl Suffolk Council, and will be suppoiled as a National Portfolio Organislion of Arts Council England froin 2023 - 2026. The Bury Sl Edmunds Theatre Management Limited Would like lo thank ils stakeholder partners for their continued support and will work closely with local authority funders lo ensure that il provides excellent investment, 81 a lime when the public purse is under increased pressure. Overall fundraising income for core expenditure, which includes specific Trusts & Foundations, Friends scheme, donations, sponsorship and fundraising events, lolalled £229,341 12022 - £207,727). This excellent result, as highlighted above, reflects the hard work of the Development Team. Al 31 March 2023 the Reslricled Capital Development Project Fund stands al £3,818,496, refle¢ling the investment in the building, whicli is being amortised over the life of the lease from National Trust. Heritage Lollery FLJnd retains a legal charge over the building, reflecting their grant investment from 2005, this charge expires In 2030. Significant reslricled funds I"eceived or taken as accrued income in the year were from the Arls Council England, Bury Town Council, Suffolk County & Wesl Suffolk Councils and Councillors Locality. The balance ol non-building reslricled funds al 31 March 2023 stood al £97,275. Further details are shown in Note 17 Icl. We would like lo record our thanks lo all those organisalions who provided reslricled funds in the year which greatly assists us in achieving our charitable objectives. Total reslricled funds al 31 March 2023 stood al £3,915,771. Invesln?enl powers Under the Memorandum and Articles of Association, the Charitable Company has Ilie power lo make any iniieslmenl which the directors see fil. Reserves Policy The Theatre's Reserves Policy, sel by the Trustees, is lo work lo acliieve free reserves within the general fund balance, i.e.excluding those amounts represented by fixed assets of £385,00012021122 £350,000) and which would allow the Charitable Company lo manage unforeseen event Al 31 March 2023 the general operational fund balance stood al £492,26512021122.' £472,396), of which £194,38012021122'. £174,511) were free reserve. The Trustees policy going forward will be lo grow the rèserves as trading conditions allow. Senior Mai?agement Pay Policy Senior Management rernuneralion is reviewed and sel by the Finance, Risk, Audit and Resources Committee ulilising current market levels of p8y reward for similar posts in similar organisalions as a benchmark.

THE BURY ST EDMUNDS TFIEP.TRE MANAGEMENT LIMITED IA company limited by guarantee and not having ohare capital) Report of the dirertors for the year ended 31 March ?.023 (continued) FUndra￿sing Bury Sl Edmunds Theatre Management Limited operates with a Head of Development whose responsibilities lie primarily in orgaiiising fundraising events and pursuing individu81 giving, sponsorship and Trusts & Foundali()ns. All fundraising a¢livilies are undertaken in line with the fundraisers code of conduct as sel out by the Charilies Commission. The C.harilable Company does not use any external profLJ8sional fundraisJThr or involve any commercial parlicipalors. There have been no complaints about fundraising aclivilies this year. Plans for Future Periods 20L3124 Theatre Royal Productions The Wonderful Wizard of Oz by Mike Akers August ?023 A new adaplalion of this classic story, commissioned via our Commissioning Circle. Our legendary ¢ommunily production will fealurtt ir larger community cast this year, includirig non-professional adults as well as children, all supported by a professional cast of 5. Additional funds through our NPO grant will allow us lo grow the ambition of this production, taking on a music.al with original songs. Snow White by Chris Hannon Noverllber 20?3 Theatre Royal's famous pantomime will again play lo 25,000 audiences. Chris Hannon's new adaplalion explores age dnd beauty, with a strong female-lead. Theatre Royal Chrigtmds Cabin November 2023 Following the success of this year's pilot, IhL Christmas Cabin will return with a new story for under 7$ co-written by Hally Ashton and Owen Calvert~Lyons. Creativo Learning Projects Tiny Plays, BIG IDEAS 3 April 2023 Following the success of this year's project, we plan lo deliver anollier edition of this schools. education project, leaching 380 children lo write Ilieir first play. Small Fry by Neil Duffield aiid Changing Room by Chris Bush April 2023 Theatre Royal Youth Theatre will lake lo the stage for a week-long Celebration of young people's Ihealre. We will stage these Iwo brilliant plays, both wrillen specifically for young actors, in double-bill over four nights. luesday by Alison Carr April 2023 Our Senior Youth Theatre will lake part in the National Theatre Connections programme, staging this newly written play al Theatre Royal and al The Garage in Norwich. Visiting Companies Our visiting programme will include high-qualily dram2 alongside a diverse programme of music, comedy and dance. Productions will include Brief Encounter by New Wolsey Ipswich, The Faith Healer by London Classic Theatre, Oh What a Lovely War by Bla¢keyed Theatre and Frankenstein by Tilled Wig. 10

THE BURY ST IDMUNDS THEATRE MANAGEMENT LIMITED IA company limited by guarantee and not having share capital) Report of the directors for the year ended 31 March 2023 (continued) Directors. responsibilitias The Directors (who are also Truslees of The Bury Sl Edmunds Thealrc Management for the purposes of charity lawl are responsible for preparing the Trustees, Annual Report and the financia5 slalemenls in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepled Accounting Praclicel. Company law requires the Trustees lo prepare financial Dlalemenls for each financial year which give a true and fair view of the slate of affairs of the charitable company and the group and of the incoming resources aiid application of resources, including the income and expenditure, of the charitable group for that period. In preparing these financial slalemenls, the Trustees are required lo.. select suitable accounting policies and then apply them con8iStenlly'. observe the methods and principles in the Charities SORP., make judgments and eslimales that are reasonable and prudent., slate whether applicable UK Accounting Standards have been followed, subject lo any nialerial departures disclosed and explained in the financial slalements., and prepare the financial slalemenls on the going concern basis unless il is inappropriate lo presume that the charitable company will continue in business. The Directors arci responsible for keeping proper a¢¢ounling records that disclose with reasonable a¢cur2¢y al any lime the financial position of the charitable company and enable them lo ensure th81 the financial slalemenls comply with the Compaiiies Act 2006. Tliey are also responsiLle for safeguarding the assets of the charitable company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Statement as lo the disclosure of information to auditnrs The directors who were in office on the dale of approval of the financial slaterments have confirmed that as far as they are aware, there is no relevant audit information of which the auditors are unaware. Each of the directors has confirmed that they have taken all the steps that they ought lo have taken as direolors in order to make Iheinselves aware of any relevant audit information and lo establish that il has been communicated lo the auditors. Auditors A resolution lo appoint Larking Gowen LLP, Chartered Ac¢ounlanls, a5 atjdilors will b6 put lo the members al the annual geiieral meeting. This report has been prepared in accordance with the provisions applicable to companies enlilled lo the small comp?nies' exemption. On ljehalf of the Board on Roger Q ince, Director

THE BURY ST EDMUND" THf.ATRE IqANAGEMENT LIMITED IA compc4ny limited by guarantee and not having share capital} INDEPLtktDEN"r AUDITOR'S REPORT TO THE MEMBERS AND TRUSTEES OF BURY ST EDMUNDS 'rHEATRE MANAGEMElTrJT LIMITED Opinion We have audited the financial slalemenls of The Bury Sl Edmunds Theatre Managemènt Limited Ilhe 'parenl charitable company'l and ils subsidiaries Ilhe 'gfOUP'I for the yeai ended 31 March 2023 which comprise the Consolidated Statement of Financial A¢livilies (including the incume and expenditure accounlsl, the Consolidated and Charity Balan¢e Sheets, the Consolidated Slalemenl of Cashflows and nolos lo the financial slaleiiTrenls, including significant accounting policics. The financial reporting framework that has been applied in their proparalion is applicable law and United Kingdom Accounting Standards, including FRS 102 "The Financial Reporting Standard applicable in Ihe UK and Republic ol Ireland" (Unilod Kingdom Generally Accepted Accounting Practi￿). In OLJr opinion the financial s181emenl5.' givè a true and fair view of the slate of the group's and Ilie parent charitable company's affairs as al 31 Mai'ch 2023 and of the group's incoming resource% and application of resources, including ils income and expendi- ture, lor the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities Act 2011. Basis for opinion We have been appointed auditors under the Companies Act 2006 and section 151 of the Charities Act 2011 and report in accordance with Ihose Acts. We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial slalemenls section of oui report. We are independent of the groijp and parent charitable company in accordance with the ethical requirements that are relevant lo our audit of the financial slalemenls in the UK, including the FRC'S Ethical Standard and we have fulfilled our other ethical responsibililieB in accordance with these requirements. We believe that the audit evidence we liave obtained is sufficienl and appropriate lo provide a basis for our opinion. Conclusions relating to going concern In auditing the financial slalemenls, we have concluded that the Iruslees, use of the 90ing concern basis of accounting in the preparation of the financial slalemenls is appropriate. Based on the work we have performed, we have not identified any material uncerlainlies relating lo events or conditions that, individually or collectively, may cast significant doubl on the group's or parent charitable company's ability lo continue as a going concern for a period of 81 least twelve month5 from when the financial slalemenls are aulhorised for issue. Our responsibilities and the respon5ibililies of the trustees with respect lo going concern are described in the relevant sections of this report. Other information The other information comprises the information included in the Report and Financial Slalemenls other than the financial slalemenls and our auditor'5 report Ihereon. The Iruslees are responsible for the other information contained within the Report and Financial Slalemenls. Our opinion on the financial slalemenls does not cover the other Information and, except lo the exlenl otherwise explicitly slated in our report, we do not express any form of assurance conclusion Ihereon.

THE BURY ST EDMUNDS THEATRE MANAGEMENT LIMITED IA company limited by guaranteg and not having share capital) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS AND TRUSTEES OF BURY ST EDMUNDS THEATRE MANAGEMENT LIMITED Icontinuedl Our responsibility is lo read the other information and, in doing so, consider whether the other information is materially inconsislenl with the financial statements or our knowlp.dge obtained in the COLJrse of the audit or otherwise appears lo be materially misslaled. If we identify such material inconsistencies or apparent material misslalemerils, we are required to determine whether this gives rise lo a material misslalemenl in the financial slaleTnenls themselves. If, based on the work we have performed, we conclude that there 15 a material mis51ale.menl of this other information, we are required lo report that fact. Vve have nothing lo report in this regard. Opinioiis on other matters pre5crlbed by the Coirpanies Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the iiiformalion given in the Report of the Directors., which includes the Trustees Report prepared for the purposes of charity law, for the financial year for which the financial slalemenls are prepared is consi51ent with the financial slalemenls., and the Directors, Report, has been prepared in accordan￿ with applir,able legal requirements. Matters on which wo are required to report by exceptinn In IIIL light ol the knowledge and understanding of the gioup and the parent charildble Company and their environinenl obtained in the course of the dudil, we liave not identified malerial misslalemenls in the. Directors. Report included will)in the Report of the DireclDrs'. We have nothing lo report in rcispecl of the following mallers where the Companies Act 2006 and the Charities Act 2011 require us lo reporl lo you if, in our opinion.. adequate and sufficient accounting records have not been kept by the parent charitable Company, or returns adequate for our audit have nDI been received from branches not visiled by us., or the parenl Charitable company financial slalemenls are iiol in agreement with the accounting records and returns., or certain disclosures of trustees, remuneration specified by law are not made., or we have not received all the information and explanations we require lor our audii, or the Directors were not enlilled lo take advantage of the sma51 companies, exemption from the iequiremenl lo prepare a Strategic Report or in preparing the Report of the Directors. Responsibilities of trustees As explained more fully in the Directors, responsibilities sel out on p2ge 11, the directors Iwho are also the Iru51ees of the charity lor the purposes of charity lawl are responsible for the preparation of the financial slalement5 and for being satisfied that they give a true and fair view, and for such internal eonlrol as the Iruslees determine is necessary lo enable the prpparalion of financial slalemenls that are free from material misstalemenl. whether due lo fraud or error. In preparing the financial slalemenls, the Iruslees are responsible for assessing the group's and parent charitable company's ability lo continue as a going concern, disclosing, as applicable, mallers related lo goitTrg concern and U8ing the going concern basis of accounting unless the Iruslees either intend lo liquidate the group or parent charitable company or lo cease operations, or have no realistic alternative bul to do so.

THE BURY ST EDMUNDS THEATRE MANAGEMF.NT LIMITED IA company limited by guarantee and not having &Dhare capital) INDEPE-NDENT AUDITOR'S REPORT TO THI MEMBERS AND TRUSTEF_S OF BURY ST EDMUNDS THEATRE MANAGEMENT LIMITED {continuedl Auditor's respontroibilities for the audit of the financial statements Our objectives are lo obtain reasonable assurance about whether the financial slalemenls as a whole arts free from material niisslalemenl, whether due lo fraud or error, and lo issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, bul is not a guarantee that an audit condLJcled in accordance with ISAS IUKI will always detect a material misslalemenl when il exisls. Misslalemenls can arise from fraud or error and are considered mcilerial rf, individually 01 in the aggregate, they could reasonably be expeclecl lo influence the economic decisions of users taken on the basis of these financial slalemenls. The ext&nt to which the audit was consldered capable of detecting irregularities, including fraud Irregularities are instances of non-compliance with 18w8 and regulations. The objectives of our audit are lo obldin sufficient appropriate audit evidence regarding compliance with laws and regulations that have a dire¢l effect on the delern)inalion of material amounts and disclosures in the financial slalemenls, lo peiform audit procedures lo help identify instances of non-compliance with other laws and regulations that may have a material effect on the financial Slalemenls, and lo respond appropriately lo identified or suspected non-compliance with laws and regulalioiis i(Jenlified during the audit. In relation lo fraud, the objectives of our audit are to identify and assess the risk of material misslalemenl of the financial slalemenls due lo fraud, lo obtain sufficient appropriate audit evidence regarding the assessed risks of material misslalement due lo fraud through designing and implementing appropriate responses and lo respond appropriately lo fraud or suspected fraud Identified during the audit. However, Il is the primary responsibility of management, vvilh the oversight of those charged with governance, to ensure that the enlily's operations are eondu¢led in accordance with the provisions of laws and regulations and for the prevention and detection of fraud. In identifying and assessing risks of malorial misslatemenl in respect of irregularities, including fraud, the group audit engagement team.. obtained an understanding of the iialure of Ilie sector, including the legal and regulatory frameworks that the group and parent charitable company operate in and how the group an(J parent charitable company are complying with the legal and regulatory frameworks,. inquired of management, and those charged with governance, about their own idenlificalion and assessment of the risks Of Irregularities, Including any known actual, suspected or alleged instances ol fraud.. discussed mallers about non-compliance with laws and regulations and how fraud mighl occur including assessment of how and where the financial slalemenls may be SLJsceplible lo fraud. As a result of these procedures we consider the most significant laws and regulations that have a direct impact on the financial statements are FRS 102, Charities SORP IFRS 1021, Companie5 Act 2006, Charities A¢1 2011, Ihe parent charitable company s governing document, lax legislation and Charities IProleclion and Social Inveslmenll Act 2016. We performed audit pro¢edures lo delecl non-compliances which may have a material impact on the financial slalemenls whicli included reviewing the financial slalemenls including the Directors, Report. remaining alert lo any new or unusual transactions which may not be in accordance with the governing documents and evaluation of compulalions provided by external lax advisor5. l-he group audit engagement team identified the risk of management override of controls and completeness of certain income streams as the areas where the financial slalemenls were most susceptible lo material misslalement due lo fraud. Audit procedures performed included bul were not limited lo lesling manual Journal entries and other adjuslmenls, evaluating the business rationale in relation lo any significant, unusual transactions and Iransaolions entered into outside the normal Course of business and performing lesls of detail in relation lo completeness of income. 14

THE BURY %T EDMUNDS THEATRE mANAcEM￿NT LIMITED IA company limited by guarantee and not having share capitall INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS AND TRUSTEES OF BURY ST EDMUNDS THEATRE MANAGEMENT LIMITED Icon(inued) A further des¢riplion of our responsibililieb for the audit of the fiiiancial slalemenls is provided on IhL Financial Reporting Council's website al htlp.'Ilwww.Irc.org.uklaudilorsresponsibililies. This description forms part of our auditor's report. Use of our repnrt This report is made solely lo the charitable company's members, as a body, in accordance with Chapter 3 of Parl 16 of the Companies Act 2006. Our audit worlc ha£ heeii underlal,,en so Ihal we might slate lo Ilie charitable company's members those matters we are requirpd lo slate to them in an 3udilor's report and for no other purpose. To 11)e fullest exlenl permilled by law, we do iiol accept or assume resporisibilily lo anyone other than the r.harilable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have foi"med. CLAIRE SUTHERLAND (Senior Slalulory Aiidilorl For and Dn behalf of RSM UK AUDIT LLP, Slalulory Auditor Chartered Accounlanls Blenhoim House Newmarket Road Bury Sl Edmunds Suffolk IP33 3SB 8 December 2023 RSM UK Audit LLP is eligible lo act as an auditor in terms of s?clion 1212 of the Companies Act 2006.

THE BURY ST EDMUNDS THEATRE MANAGEMENT LIMITED IA company limited by guarantee and not having share capital) Consolidated olateinent of Financial Activities lincluding income and expenditure account) for the year ended 31 March 2023 Unrestricted Restricted Funds Funds Tolal 2023 Unreslricled Reslricled Funds Funds Total 2022 Note Income from Grants. donations and legacies 273,612 142,101 415,713 379,771 115,903 495,674 Other trading activities Fu17drdising Front of House gctivilies Sponsorship Other Income 54,225 191,343 64,504 29,2fj6 54,225 191,343 64,504 29,266 39,100 150,389 59,417 29,785 39,100 150,389 59,417 29,785 Investments Other Income 3,894 155,751 3,894 155,751 214 111,090 214 111,090 772,595 142,101 914.696 769,766 115,903 885,669 Charitable aclivilies Operation of theatre and arlislic programmes 1,083,788 1,083,788 960,469 960,469 Total 1,856,383 142,101 1,998,484 1,730,235 115,903 1,846,138 Expenditure on Raising funds Fundraising cosls of granls and doiiations Front of House activities 105,721 129,656 105,721 129,656 146,991 95,286 146,991 95,286 Charitable activities Operation of theatre and artislio programmes 1,580,474 246,600 1,827,074 1,511,473 23?.,969 1,744,442 Total 1,815,851 246,600 2,062,451 1,753.750 232,969 1,986,719 Net movement offunds in year 40,532 1104,4991 163,9671 123,5151 1117,0661 1140,5811 Reconciliation of funds Total funds brought forward 656,597 4,020,270 4,676,867 680,112 4,137,336 4,817,448 Total funds carried forward 697,129 3,915,771 4,612,900 656,597 4,020,2.70 4,676,867 The notes on pages 20 10 34 form parl of these financial slalemenls.

THE BURY ST IDMUNDS THEATRE MANAGEMENT LIMITED IA company limitf:d by guarantee and not having share capitall Consolidated Balanue Shevt at 31 March 2023 Note 2023 2022 Fixod assets Tangible assets 4,153,526 4,218, Jf82 Current assets Stocks Debloi's Cash al baiik and in haiid S,744 ?79,101 808, 193 14,522 107,707 873,119 14 1,093,038 995,348 Crèdilors.. amounts ialling due wllhin one year 633,664 537,063 Net currgnt assets 459,374 458,285 Net assets 4,612,900 4,676,867 Represented by Funds Unreslricled.. General fund Designated fund 492,265 204,864 472,396 184,201 697,129 656,597 Reslricled funds 17 3.915.771 4,020,270 Total funds 4,612,900 4,676,867 The financial slalemenls on pages 16 10 34 weie approved by the board of directors and aulhorised for issue on 7 December 2023 and are signed on ils behalf by.. Rog Quin Director The notes on pages 20 10 84 form part of these financial slalemenls

THE BURY ST EDMUNDS THEATRE MANAGEMENT LIMITED IA company limited by guarantee and not having share capitall Charity Balance Sheet at 31 March 20£3 Company no.. 842455 Note 2023 2022 Fixed assetr Tangible assets Investments 11 4,153,526 100 4,218,582 100 4,153,626 4,218,682 Curreiit assets Stocks Deblors Cash al bank and in hand 5,744 279,001 808,193 14,522 101,607 873,119 14 1,092,938 995,248 Creditors= amoiints falling due within one year 633,664 537,063 Net current assets 459,274 458,185 Net assets 4,612,900 4,676,867 Represented by Funds Unreslricled.. Geneial fund Designated fijnd 17 492,260 204,864 472,396 184,201 697,129 656,597 Reslricled fund 17 3,915,771 4,020,270 Total funds 4,612,900 4,676,867 As permilled by S408 Companies Ael 2006 the Charity has not prescribed ils own Slalemenl of Financial Activities and related notes as Il prepares group accoun15. The Cliarily's deficit for the year was f63,967 12021122 deficit.. £140,5811 The financial statements on pages 16 10 34 were approved by the board of directors and aulhorised for issue on 7 December 2023 and are signed on ils behalf by.. Roger uince Dir tor T he notes on pages 20 10 34 form parl of these financial slalemenls

THE BURY ST EDMUNDS THEATRE MANAGEMENT LIMITED IA company limlted by guarantee and not havinq share capitall Consoll(iated Statement of Cashflows at 31 March 2023 2023 2022 Noto Cashflows generated by/(u5ed by) operating activities 24 {62,8831 51,461 Cashfloivs from investing activities Interest income Purcliase of tangible fixed assets 3,893 15,0361 214 155,2801 Nel cash (used Inllprovided by investing activities 12,0431 155,0661 Change In cash and cash equivalents in the year 164,9261 {3,6051 Cash and cash equivalents at the beginning of the year 873,119 876,724 Total cash and cash equivalents at tlie end of the ye¢ ." 2.5 808,193 873, 119 Casl) and cash equivalents relate wholly lo balan￿$ held in current and deposit accounts.

THE BURI" ST EDMUNDS THEATRE MANAGEMENT LIMITED {A company limited by guarantee and not having share capital) Notes forming part of the fii)anclal statements for the year ended 31 March 2073 1. Accounting policies Basis of accounting The financial slalemenls have been prepared under the historical cost convention and in a¢oordance with Accounting and Reporting by Charities.. Slalemenl of Recommeiided Practice applicable to cliarilies preparing their accounts in accoi"dance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021- (Charities SORP IFRS10211. the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 and the Conipanies Act ?_006. The Bury Sl Edmunds Theatre Management Limited is an incorporated charity domiciled and registered in England, which conslilules a PubliG Benefit enlily as defined by FRS 102. Assets and liabililics are initially recognised al rost or transaction value unless olherwise slated in the relevant accounting polic31 iioles. BasiTr of consolidatioi) The consolidalcd finai)cial Slalemenls incorporate the accoLinls of the Charitable Company and those of ils trading sijbsidiary, E3ury Sl Edmunds l-healre Productions Lirlliled for the year ended 31 March 2023 on a line by line basis. A stspardle Slalemenl of Financial Activity ISOFAI Is not preBenled because the charity has taken advantage of the exemplioiis afforded by Section 408 of the Companies Act 2006. Under qection 479A of the Companies Act 2006, Bury Sl Edmund5 Theatre Productions Limited is exempl from the requirement for il% financial slalemenls lo b@ audited. Going Concern Whilst the financial slalemenls have been prepared on the going ¢on¢ern basis there are, due li) Ilie impact of the energy and cost of living crisis on the cultural sector, slill some uncerlainlies facing 11)e organisalion which are highlighted bolow. However, Ilie organisalion's financial position stands il in good stead lo dp.a5 with the possible impact of thes0 lo the exlenl they liave been budgeted and no material uii¢erlainties ii"I respecl of going concern have been ideiilifed. Overall unreslricled funds increased by £40,532 during the year leaving an unreslricled fund balan￿ of £697,129 al 31 March 2023. Of this lolal, £492,265 relates lo the operational element of the Unreslricled Fuiid and £204,864 to Ilie designated element. The SLJbsidiary company, Bury Sl Fdmuiids Theatre Production5 Limited allows the Theatre lo lal(e advantage of the HMRC'S theatre lax relief, which in the year ended 31 March 2023 l'esulls in a nel benefit of £155,7fJ1 after c0515 which is included in the re5uIIs of the Cliarilable Company. Detailed financial projections including cash flow have been prepared for the year lo 31 Iv1arch 2024 and for the year lo 31 March 2025 which Ihp Directors have considered in their assessment of the goinq con¢erii position. kurlher details of the organisalion's plans going forward are included in the Report of the Directors,, Plans for Future Periods. On the basis of the detailed budgets the Directors are satisfied that the financial slalenienls should be prepared on a goiiig concern basis, however. whilst the theatre has unreslricled reserves 2nd Ilie forecasts have included prudent assumptions regarding ongoing business operalions and a return lo more normal conditions the following uncertainties should be highlighted.. Whilst the operational environment has shown significant improvement, we are in Ilie midst of an energy and cost of living crisis resulting in general and ongoing economic uncertainly. Whilst the organi5alion is in regular contact willi our local aulhorilies no formal iiolificalion has been received regarding ongoing revenue funding for 2024125. 20

THE BURY ST EDMUNDS THEATRE MANAGEMENT LIN41TED IA company limited by guarantee and not having sFiare capital) Notes forming part of the financial statements for the year ended 31 March 2023 1. Accounting policies (continued) Reduced dis¢losurcs The C,hdrilable Company has taken advantage of the exemption from disclosing the following information, as permilled by the reduced disclosure regime within r.RS 102 Section 7 'Slalemenl of Cash Flows, Presentation of a Slalemenl of Cash Flow and related notes and disclosures. Financial inqtrliments The Charitable Group only has financial assets and finan¢i31 liabilities of a kind that qualify as basi¢ financial inslrumer)Is. Basic financial instruments are initially recognised al transaction value and subsequently measured al Ilieir setllemeiil value. Debtors Trade and other debtors are recognised al the selllenienl amount due after any diqcounl offered. Propaymenls are valued al the amount prepaid nel ol any discounts due. Cash at bank and in hand Cash al bank and in hand includes cash and shorl-lerm highly liquid investments with a short malurily of three months or less from the dale of acqui511ion or opening of the deposit or similar account. Creditcrs Creditors payable within one year that do not conslilule a financial transaction are initially measured al the transaction price and subsequently measured al amortised cost, being the transaction price less any aniounls settled. Tangible fixed assets and depreciatlon Tangible fixed assets are slated al cost, less depreciation. Depreciation 15 provided on all tangible lixed assets al rates calculal@d lo wrile off Ilie cost, less eslimaled residual value, of each asset on a slraighl-line basis over ils expected useful life, as follows.. Equipment 3-5years Motor veliicles 3-4years Properly improvenients over the period of the lease Properly improvemen15 in excess of £10,000 and equipment addition5 in excess of f 500 are capilalised al the discrelioi) of the directors. Inve5tmonts In Ilie Charitable Company balance sheet, investments include the investment in the subsidiary which is recordcd al cost. Income Income is recognised when the Charitable Group has enlillemenl lo Ilie funds, any performance condilions allached lo the ilemlsl of income has been mel, il is probable that the income will be received, and the amount can kie measured reliably. Income from government and other grants, whether 'capilal' grants or'revenue, grants, is recognised when the C.harilable Group has enlillemenl lo the fun(Js, any perforimance conditions allached lo the grants have been mel, Il is probable that the income will be received, and the amount can be measured reliably. Income from front of house activities is recognised on exchange of goods. Income received In advance of a Ihealrical perlormance or provision of other specified service is deferred until the criteria for income recognition are mel, this is normally on the performance dale. Interest receivable Interest on funds held on deposit is includpd when receivable ai Id the amount can be measured reliably by the Charitable Group, this is normally on nolificalion of the intere51 paid or payable by the Bank. 21

THI BIJRY ST FOIMUNDS THEATRE MANAGEMENT LIMITED IA company limiled by guarantee and not having share capitall Notes forming pail of the financial statements for the year ended 31 March 2023 (continued) 1. Accnunting policies (Continued) ixpenditure Theatre expenditure is recognised on an accrual's basis. Conlraclual arrangements and performance related grants are recognised as goods or sei'v.ces are supplied. Costs of Faising funds are those costs Incurred in allracling grants and donations, and those incurred in trading Jolivilie5 that raise funds. SLipporl costs include central funclions and have been allocated lo activity cost categories on a basis consislenl with the use of resources. Expenditure on charilahle activities includes the costs of performances, exhibitions and other educational activities undertaken lo further the purposes of the ¢Fiarily aiid their associated supporl costs. Pensions The group operates a Peoples Pension Plan for the bonefil of il% eniployees. The asset5 and liabilities of the schemE: arp. held 8eparalely lo those of the group. The annual contributions payable are included in the Statement of Financial Aclivilip.s. Loa=Inq L'ommitments Rentals paid under operating lea4es are charged against income on a slraighl-line basis over the lease term. Payments to volui,teers The Ihealre's nperalion relies heavily on voluiileer5, willi advantage lakeii of exemptions awarded lo charitable organisalions in respect of the Minimum Wage regulations. Volunteers are engaged in all aspects of Ilie operation, bul most extensively in front of house operations. The Chai ilable Conipany's directors are also engaged in a voluntary capacity. The Charitable Coinpany ofiers oul-of-pockel expenses to all volunteers, with many claimiiig modest travel expenses. No olliei payments are offered in respect ol their worli as volunteers. Stocl(s Stocks are valued 21 the lower of cost and nel realisable valu?. Eniployee bx)nefits The costs of shorl-term ernployee benefits are recognised as 3 liability and an expense. The holiday year for the Charitable Company ends al the reporting dale, liowttver in cerlain circumstances employees are eiilillod lo oarry forward unused holiday. The cost of any unused enlillemenl is recognised in the period in which the einployee's servi¢es are received. Fund accounting Unreslricled funds comprise accumulated surpluses and deficits on Ilie General Fund and a Designated Fund. They are available for use al Ilie discretion of the direplors in furtherance of the Charitable Company's charitable objectives. Reslricled funds are created when grants or donalioiis are made available for a particular purpose, the use of which is restricted lo that purpose. Critical accounting estimates and ?% leas of judgement The Charitable Group makes eslimaies and assumptions concerning the future. The resulting accounting cslimales and assumptions will, by definition, not always equal Ihe related actual results. There are not considered lo any eslimales or judgements that have a significant risk of causing a material adjuslmenl lo the carrying amounts of assets and liabilities within the next financial year. 22

THE BURY SI" EDMUNDS THEAI'RE MANAGEMENT LIMITED IA company limlted by guarantee and not having share capital) Notes formlng part of the finaiicial statgments for the year ended 31 March 2023 (Continued) 2. Income from grants. donations and legacle5 Unrestri¢ted Funds Rostricted Funds Total 2023 Total 2022 7rants Suffolk County Council Wesl Suffolk Council Cultur21 Recovery Grant 102,000 61,000 102,000 61,000 102,000 61,250 107,311 Ti-usts & Foundations National I rust Alfred Willianis Charitable Trust Foyle Foundation Thealrcs Trusl Norfolk & Norwich Festival Trust 5,450 500 20,000 5,000 2,000 2,000 Donations Friends of Theatre Royal Others 15,258 95,354 15,258 235,455 17,776 176,387 140,101 273,81? 142,101 415,713 495,614 3. Income from charitahle actii itiLJs ljnrestricled Funds Total Total 2022 Funds Profc58iondl events Pantomime EduLation programme Amateur events Agency events 14erilage Tours Other 499,087 484,528 39,642 46,801 3,408 3,990 6,332 499,087 484,528 39,642 46,801 3,408 3,990 6,332 4 Jf2,757 440,151 15,588 658 29,665 1,083,788 1,083,788 960,469 23

THE BURY ST EDMUNDS THEATRE MANAGEMENT LIMITED IA compaiiy lirnited by guarantee and not having shdre capitall Notes formis19 part of the financial stalements for the year ended 31 Marclj 2023 (Continued) 4. Allocation of support costs The Charitable Company allocates ils support Costs ￿S shown in the table below and then further apportions those costs between the charitable aetivilies undertaken. Support Costs are allocated on a basis consislenl with the use of resources. Fundraising costs of qrants and donations Tlieatre operation 2023 Total 2022 Total Support costs Adminislralion staff Adminislralion costs Premises costs 93,766 416,057 144,133 18,753 5,662 112,519 421,719 144,133 137,526 50g,605 128,574 6of3,g56 24,415 678,371 775,705 S. Analysis of charitable expondi:ure The Charitable Company undertakes direct charitable activities only and does not make grant payments. Productions and perforniances Education programme 2023 -rotal 2022 Total Professional events 462,188 462,188 418,264 Co-Produclions Pantomime Education & Community proqramme Artistic staff Box office Marketing Technical Operations Support costs Inole 41 5,804 239,578 5,804 239,5 18 185,542 16,476 221,449 199,276 185,542 37.506 5,Jf80 79,852 37,507 75,013 5,580 111,677 79,498 8,238 653,9.fj6 34,381 3,971 87,727 53,594 7,285 702,019 31,825 3,895 8,238 571,245 82,711 1,485,594 J41,480 1,827,074 1, 144,442 6. Analysis of cost of raising funds Other costs Supporl costs 2023 Total 2022 Staff costs Fundraisingj costs uf grants and donations Front of house activities 38,950 41,165 42,356 87,891 24,415 105,721 129,656 146,991 95,286 80,715 130,247 24,415 235,377 242,277 24

THk BURY ST ELIMUNDS T14EATRE MANAGEMENT LIMITED (A company limited by guaranteè and not liaving share capital) Notos forming part of the financial statements for the year ended 31 March 2023 (Gontinued) 7. MovemLnt in total funds for tlie year This has been arrived al after". Re.ceivino 2023 2022 Government Grants tjusiness Reslriclions Granls Coronavirus Job Retention Scheme Cranls 43,600 14,4 Jf6 Ch3rging 2023 2022 Depreciation Operating leases - Owned Land & buildings Plant and machinery Auditor's remuneration Slalulory audit of charity & consolidated accounts 70,992 12,500 2,016 19,995 76,600 16,500 2,016 16,995 Tax compliance services Audit rclaled assurance services 2,450 1,750 2,000 8. Employees The average monthly iiumber of employees of Ihe group during Ihp year, excluding directors, was as follows.. 2023 2022 14uinber Nuinber Full lime Parl lime 55 46 72 66 Staff costs consist of". Wages and salaries Social =ecurily costs Pension costs 812,084 55,573 7?8.283 48,512 19,552 888,008 796,347 No employee earned more than £60,000 in Ilie year.12022.' no employee earned more than £60,000) Key Management Persoiinel of the Charilak>le Company and Group comprise of the Directors, the Chief Executive and Artistic Director, the Finance Director and the Head of Fiiiance., HR and Operalioris. The 10131 employee remuneration ol Key Management Personnel wa f.137,959 during the year 12022 -£129,3221 9. Directors No directors received einolumenls lor their duties as dire¢lors during the year {2022 - none.l. No expenses wore reimbursed lo the director's during either year. 10.Taxation The Bury Sl Edmunds Theatre Management Limited is a registered charity and as such ils income and gains are exempl from corporation lax lo thè extent that they are applied lo ils charitable objectives. 25

THI BURY ST EDMUNDS TFIEATRE MANAGEMENT LIMITF.D IA company limited by guarantee aiid not having share capitall Notes forining part of the financial statements '.or the year ended 31 March 2023 (Continued) 11.Taiigible assets Icharity and Group) Long Leasehold property mprovements Motor Vehicles Equipment Total Cost Al 1 April 2022 Addilioiis Disposals 5,041,255 14.846 111,550 5,935 5,167,651 5,935 At 31 March 2023 5,041,255 14,846 117,485 5,173,586 Deprtrcialion Al 1 April 2022 Charge for year Disposals 866,896 57,977 14,846 67,326 13,015 949,068 70,992 At 31 March 2023 924,873 14,846 80,341 1,020,060 Nel book vali1& - owntrd assets At 31 March 2023 4,116,382 37,144 4,153,526 Al 31 March 2022 4,174,359 44,224 4,218,583 12.Investmen(s (Charity only} Total Cosl 1 April 2022 and 31 March 2023 100 Subsidiary Bury Sl Edmunds Theatre Productions Limited Country England Holding Principal aGtivity 1000/. Theatre Productions The Charitable Coinpany oivns the whole sliare capilal of Tl"ie Bury Si Edinunds Theatre Productions Limited (company number 092407861. The principal activities of the Company are theatre productions. The address of ils registered office is the saine as Ihe Charitable Coinpany as nDled on P3ge 2. Al 31 March, the Company had.. 2023 2022 Turnover Profil afler lax Nel Assets 474,687 473,469 100 100 26

THE BURY ST EDMUNDS THEATRF. MANAC?EMENT I.IMITED IA company limited by guarantee dnd not having share capitall Notes forming part of the financial statements for the year ended 31 March 2023 {ContlnuedJ 13.otncks Icharity and Group) ?.023 2022 Goods for resale ,744 14,522 14.Debtors 2023 Group 2023 Charity 2022 Group 2022 Charity Trade debtors Other debtors Prepayments and accrued income Amounts owed by group undertskings 11,595 237,46fj 30,275 1fj,595 28,446 30,275 ?08,785 12,592 81,639 13,477 12,592 18,934 13,477 62,605 279,101 279,001 107,708 107,608 All amounts within debtors fall due for payment williin ono year. 1 Jf.Lredilnrs'. amounts ialling due within Line year 2023 Gi'tsup 20?.3 Charity 2022 Group 2022 Charity Trade creditors 'Faxation and social security Other creditors Accruals Deferred income Isee note 191 37,189 27,211 3,598 166,762 398,904 37,189 27,211 3,Jf98 166,762 398,904 47,893 16.984 24,005 128,4?6 319,755 47,8g3 16,984 24,005 128,426 319,755 633,664 633,664 537,063 537,063 16.Peri￿1onS The ch2rily c.onlribules lo a defined contribution schcme for ils einployees. The charge far the year is £20,3J1 12022.. £1 g,5221 and al Ilie balance sheet (Jale there were £3,598 of oulslanding contributions (2022.. £8,722> wliich were included within creditors. 17.Funds (a) Charity and Gi-oup Unrestricted Funds Unreslri¢led funds Consist of the gener21 funds and designated funds. At 1 April 202?. March 2023 Income Cxperiditure Transfers General funds Designated funds 472,396 184,201 1,856,383 11,767,881) 147,9701 168,6331 68,633 492,265 204,864 656.597 1,856,383 11,815,851) 697,129 27

THE BURY ST EDMUNDS I"HEATRE MANAGEMENT LIMITED IA company limited by guarantee avld not having share capilall Notas forming part of the financial statements for the year ended 31 March 2023 (Continued) 17. Funds Icontinuedl (a) Charity (ind Group Unrestricted Fuiids (continued) At 1 April 2021 At 31 Nfjarch 2022 Income Expenditure Transfers General funds Designated funds 611,578 68,534 1,-K30,235 11,753,750) 1115,6671 115,667 472,396 184,201 680,112 1,730,235 {1,753,7501 656,597 (l)) Charity and Group Deslgnated Funds At l Aprll 2022 Income Expenditure 2023 2023 At 31 March Transfers Artistic fund Operational fund 131,255 137,7551 110,2151 124,0051 92,638 69,4g5 135,3Cg 184,201 147,9701 68,633 204,864 At 1 April 2021 Income F.xperhdltuYe 2022 2022 At 31 Ivlarch 2022 Transfers Artistic fund Operational fund 33,500 35,034 97,755 17,912 131,255 52,946 68,534 fj15,667 184,201 Arlislic Fund.. The directors have agreed ID reduce funds by £24,005 10 £69,495, Ihpse will provide assistance with lulure Theatre Royal produclions and the visiting programme. 2021122.. £97,755 was designated lo the Ariisti¢ fund.. this was lo c.over the guarantee for the Beyond W<ills proje¢l and lo provide assis12n¢e with future Theatre Royal productions. Operational Fund.. The dire¢lors have agreed lo increase funds by £92,638 10 £135,369 whirh will assist with operational requirements in equipment and building maintenance. 2021122.. £17,912 was c5esign?led lo the Operational fun(l.' this wds lo assist with operational requirements in equipment and building iinprovemenl and maintenance. 28

THE BURY ST EDMUNDS THEATRE MANAGEMENT LIMITFD IA company limited by guarantee aiid not having share capital) Notes forming parl of the financial statements for tho year elidèd 31 March 2023 (Continued) 17. Funds Icontinuedl (G) Ch<?rity and Group Restricted Funds At 1 April At 31 March 2023 Income F.xpenditure Capital L)evelopmenl Projecl Fund Capital Boiler Replacemenl Fund Access Project Fund Beyond Walls Fund Seating Fund 318ck Tliealre Live Project Fund Youth Bursaries Fund Dooislep Project Realising Ambitions Project l-und Artistic Directors Fund Ickworlh Volunteers Project Fund SEN Youth Theatre YouthlLocal Eiigagemenl Head East Tiny Plays Project Commisgioning Circle Downlighlers 3,876,473 16,000 7,571 34,870 7,997 157,9771 14,0001 16,3571 134,8701 3,818,496 12,000 1,214 7.997 5,882 1,106 6,665 1,686 33 16fj 31 118,9851 (?.5,7011 25,701 11,060 1,825 5,858 10,000 500 6,780 504 5,000 63 11,060 15001 Ig,rJ921 18,455 14,121 10,000 15001 {16,1931 193 il 15,0001 1631 (10,0001 17,5001 11J,,7021 1881 12,OOUI 126.0281 15,0001 17,733 fja,000 8,320 9,573 Secret Garden Youth -l-healre l)roduclion 22123 Shared Pfosperily Fund Teachei s CPD F.venl Vulnerable Groups Christmas Cabin Warm Spaces Project 10,000 5,000 14,702 2,500 7.412 2,000 26,028 5,000 4,020,270 142,101 {246,6001 3,915,771 29

THE BURY ST EDMUNDS I HEATRE MANAGEMENT I.IMITED IA company limited by guarantee and not haviiig share capitall Notes forming part of the. financial statements for the. year ended 31 March ?023 (Continued) 17. Funds Icontinuedl (G) Charity and Group Restric¢ed Funds (¢ontiniJed) At 1 April 2021 p.t 31 March Income Exponditure Capital Development Project Fund Capital Boiler Replacement Fund Access Project fund Beyond Wa115 Fund Sealing Fund Black Theatre Live Project Fund 'Holes' Production Youth Bursaries Fund Doorstep Project Fund Realising Ambitions Project Fund Artistic Directors kund Ickworlh Volunteers Project Fuiid SEN Youth Tho.alre YoulhlLocal Fngagemenl Head East Tiny Pl,?ys ProjeLI Cominissioiiing Circle Dowiilighlers Defibrillator YoLJlh Theatre Production 22123 Covid Reslarl Small IquipinenlFund 3,934,450 157,9771 14,0001 14,6161 191,0581 3,876,413 16,000 7,.571 34,870 7,997 b,S82 20,000 12,187 105,121 7,997 5,882 20,807 16,5001 1,686 13,910 21.085 11,060 3,075 7,98g 10.000 1,686 8,415 b,uoo 122,3251 13841 25,701 11,060 1,825 5,858 10,000 500 6,780 504 b,000 63 2,500 {1,2501 {7,3621 5,231 500 30,600 10,000 5,000 123,8201 19,4961 11,2871 1,794 1,100 11,7941 11,1001 4,137,336 115,903 1232,9691 4,020,270 Capital Development Project Fund.. In 2002 the Charitable Company launched ils Resloralion Appeal lo raise £5.1 million lo restore and dtrvelop the Regeiicy Thedlrp Royal BLJI'Y Sl Edmunds. The projeLI cotllmenced in October 2005, Ihis fund coiilains all the monies raist.d for the project and all the expenses relcTrling lo it. 'I'his fund is annuall31 depreciating on a slraighl..line basis ovcr the remaiiiing term of the lease. Capital Btsilp.r Replacement Fund". During 20211?.2 the boiler and Iddialor system was replaco.d. Funding was provided by Fuyle Foundation. This fund is annually depreciating on a slraiglil-line basis uver five years. Access Project Fund.. Funding provided by Sl Edmunds Trust towards providing audio described and captioned performances and for equipment for the visual and hearing iinpaired. Beyond Walls Fund". Associate Artis15 workinu with Associations and Organi5alion= providing an ongoing series of projects working with Vulnerable adults both young and old, with disabilities or circumslanlial Iiinilalions. Funding provided by.. Arts Council England. Funds were fully expendod in Ilip year. 2021/221.. Arts Council Ingland, Bury Town Council, We51 Suffoll( Council, National LollcJf51 kunding, local Councillors locality funds Sealing Fund.. Funding towards the refurbishment ol the Theatres ￿eatIng. Funding provided by.. Tlie National Trust. 2021122.. Funding provided by.. The National Trust. Black Theatre Live Project Fund. project lo pron7ole and celebrate diversity. Funding provided by.. Tara Arts. 2021/22". Funding provided by.. Tara Arts. Youth Bursaries Funding.. Funding which enables the provision of Bursaries plaoes for Youlli Theatre and the Summer S¢hool Production Funding provided by." Alfred Williams Trust and The Theatre Royal Supporters Group. 20.1122. lunding provided by.. Alfied William: Trust, and The I'healre Royal Supporters fjroup. 30

THk BURY ST ED1￿umDs THEATRE MANAGEMENT LIMITED {A compaiiy limiled by guarantee and not having share ¢apitall Notes forming part of tho financial statements for the yoar ended 31 March 2023 (Coiitinued) 17. Funds Icontinuedl (c) Charity and Group Restric.led Funds (Continued) Door Slep Project Fund.. Funding towards delivering a Children's Arts Festival lo ?0 schools 3cro<'s East Anglia. Funding provided by.. Arl8 Council l..ngland, Suffolk Libraries, Wesl Suffolk Council Locality Funds and Theatre in Education. 2021/22.. Fundinq provided by". Arts Council England. Realising Ambitions Project fund". Fiiiiding towards ciealing a parlner%hip that brings logplher skills of primary care staff, educalionalists and arts praclilioners lo inspire and supporl young people in exploriiig wellbLJing topics. Funding provided by.. the Suffolk C,omtMuiiily Foundation aiid Suffolk County Council. Tliis fund was fully expended in the year. 2021/21.. Funding provided by.. the Suffolk Community Foundation and Suffolk County Council. Artistic Director Fund.. Funds donated during Ilic 200th anniversary year towards local comniunily artistic projects Grealed by the Artistic Director. Funding provided by pledges fi om individuals. 2021/22.. Funding provided by,. pledges from individuals. Ickworlh Volunteers Projec.1 Funds". Funding towards supporliiig Ickworth House engage Ir ddilional visitors through encouraging the next geneialion of advocates. Funding Provided by.. National Trust. 2021/22.. kunding provided by.. National Ti'usl. EN Youth Theatre project". Funding provided towards Ilie setup an(5 crealion of a SEN Youth Thealro Group. Funding provided by Sl Edmunds-friisl, local couiic.illors locality funds and GeWhii£ 2021122 Fijndiiig provided by Sl E.dmunds Trust, local councillors locality flind5 and Gewhizz. YouthlLo¢al Engagement Fund.. funding towards supporting and Ljngaging the local wmmunily. Funding provided by the Thealres Trust. 2021122 Fuiidiiig provided by Theatres Trust. Head East Campaign.. Funding towards production of Tourism Films. Funding provided by New Anglia Cultural Board Mark¢ling Consortium. Funds were fully expended in the year.: 2021122 Funding provided by New Anglia Cultural Board Marketing Consortium. Tiny Pliys.. Funding towards the Tiny Plays project which delivers workshops leaching and facililaling 450 childi'en lo write their first play. Fiinding provided by.. Arts Council East.. 2021122 Funding providLd by.. Periscope and Arts Council East. Commissioning Circle." Fundiiig provided lo support the commission of the Auluffin 23 production of Wi7ard of Oz. Funding provided by.. five individuals. Now Fund 2022123. Downlighlers.. Fuiiding provided lo upgrade Ihe downlighlers throughout the. Thcalre lo bring in liiie with ¢urrenl fire regulations. Funding provided by.. Theatres Trusl. lunds were fully expended in the year. 202012?.. kunding provided by.. Theatres Trust. Defibrillalor.. Funding provided for the provisioii of a defibrillator on the Theatre Royal sile. Funding provided by., Bury Abbey Rotary. Funds were fully expende(5 in the year. 2021122.. Funding provided by.. Bury Abbey Rotary. 'Secrel Garden, Produ¢lion.' Funding towards supporting the Young Company in the Theatre Royal Production of 'Secrel Garden,. Funding provided by." Bury Town Council. New Fund 2022123. Youth Theatre Production". Funding towards supporting the Young company in the annual Youth Theatre Production. Funding provided by.. Anglia Suspended Ceilings and Wesl Suffolk Council. 2021122.. Funding provided by". Anglia Suspended Ceilings. Shared Prosperity FLind.. Funding towards supporting the Creative Learning delivery for the last quarter of 2022123. Funding provided by '. Wesl Suffolk Council. New Fund 2022123. Funds fully expended in year. 31

T14E BURY ST EDMUNDS THEATRE MANAGEMENT L IThqITED {A company limited by guarantee and not having share capital) Notes forming part of tlie firiancial statements for tho year endoti 31 March 2023 (Coiptinued) 17. Funds Icontinuedl (c) Charity arid Group Restricted Funds (continiied) Teachers CPD Fund.. Funding toward5 developing and delivering a teachers CPD event. Funding provided by. Suffolk County Council. New Fund 2022123. Vulnerable Group5.' Fuiiding towards providing lickels lo the Pantomime for Vulnerable Groups. lunding provided by.. Bury Town Council. New fund 2022123. Funds fully expended in the year. Christmas Cabin". Fundino provided towards creating a Clirislmas experience foi. young children in the ARC shopping area. Funding provided by". Our Bury o?1 Edmunds and Bury Town Council locality funds. New fund 20221?.3. Funds fully expended in the year. Warm Spaces project.. Funding towards crLaling a warm welcoming environment for the public, once a week throughout the winter. F.unding provided by". Wesl 8uffoll( Council. New fund 2022123. Fundq fully expended in the year. 18.Anal Jisls of group net assets between funds General Dosignate(I Ftinds Restricted l-uiids 'roldl 2023 Tangik)le fixed assets Nel ¢urrenl assets 297,886 194,379 25,145 179,719 3,830,495 85,276 4,103,526 459,374 49i,265 204,864 7,915,771 F,61?,900 General Designated Funds Funds Restricted Trunds Total 2022 Tangible fixed assets Ilel rurrenl assets 297,880 174,511 28,224 155,977 3,892,473 127,797 4,218,582 458,280 47?,396 184,201 4,020,270 4,676,867 19.Analysis of charity net assets botween funds General Designated Fuiids Restric.ted Total 2023 Tangible fixecj assets Inveslmenls Nel curreiil assets 297,886 100 194,279 25,145 3,830,495 4,153,526 100 459,274 179,719 85,276 492,265 204,864 3,915,771 4,612,900 General Funds Designatod Funds Restricted Funds Tot(il Tangible fixed assets Investmeiils Nel current a55ets 297,885 100 174,411 28,224 3,892,473 4,218.582 100 458,185 155,977 127,797 472,396 184,201 4.020,270 4,676,867 32

THE BURY ST EDMUNDS THEATRE MANAGEMENT LIKnll FD IA company limited by guarantee an(S not having share capitall Noteo forming part of the fin. ncial statements for the year ended 31 March 2023 (Continued) 20.Def&rrttd income (Charity and Group) 2023 2022 Bdlai Ice al 1 April ,Iinounl released in year Amount deferred in year 310,755 {319,7551 398,904 387,251 1347,2511 319,755 398,904 319,755 DL,ferred income is made up of £348,365 box office receipts and £50,539 deposils received in advance. 2021122.. £240,70S box office receipts and £79,050 deposits received in advanoe. 21.LumMitmonts of Charity & Ciroup undor operatinri leases Thp lolal future minimum lease payments under non-cancellable operating leases for Plant and Machinery are as follows.. 2023 20A?. Amounts due.. within one year belwpen one and five years 2,016 2,016 2,016 4,032 4,032 6,048 The total future minimum lease payments under non-cancellable operating leases for Land and Buildings are as follows.. 2023 2.022 Amounts due.. within one year between one and five years After five years 12,500 50,000 841,500 12,500 50,000 850,000 904,000 912,500 22.Contingent Ilability The Trustees of the National Heritage Memorial Fund INHMFI hold a lega5 charge over the properly occupied by The Bury Sl Edmunds Theatre Managernenl l_imited for the amount of £1,950,000. This sum becomes payable under the following Conditions.. A change Df ownership of the whole or parl of the properly A material change in the slalus of The Bury Sl Edmunds Theatre Management Limited A deviation from the Approved Purposes or Approved Usage of the HLF grant or The Bury Sl Edmunds Theatre Management Ltd ceases lo operate due lo ils merger with or the transfer of ils functions lo another body. In any of these circurnsl8nces The Bury Sl Edmunds Theatre Management Limited, the new body or new owner must, within 90 days of the relevant breach. submit a revised application lo NHMF for consideration. This charge automatically expires on 2 March 2030. The directors consider that these conditions are unlikely lo arise and as such there is rio probable outflow of funds lo be provided for within these financial slalemenls. Under group regislralion, the Charitable Company is jointly and severally liable lo Value Added Tax with the subsidiary company, The Bury Sl Edmunds Theatre Productions Limited. Al 31 March 2023, there was no 33

TIIE BURY ST EDMUML)S THEATRE MANAGLMENT LIMITED IA company limited by guarantee and not having share capitall Notes forming part of the financial statements for the year ended 31 March 2023 (Continued) 73.Related party transactions During the year Ilie following Iransa¢lions look place with The Bury Sl Edmund8 Tliealre Prodiiclions Limited, who ai"e considerecs lo be a related party of I'hc Bury Sl Fdmuiids Theatre managerne.nl Liniiled as a wholly owned subsidiary. 2023 Costs recharged Management charges paid Owed by BqE Theatre Productions Limited 633,1jl 5 477,174 209,015 526.503 473,469 62,605 21.Recoiiciliatioii ot net Inuvempnt in lunds to net iriflow from operatiiig i*Ctivity 2020 2022 Nel Inuvemenl in funds Interest received Dpprecialioii Iln¢re.dsellde¢rL'ase in stock IOe¢rpasel iii cleblors Increaselldecredsel in creditors 163,9671 13,8931 KO,992 8,778 1171,3941 g6,601 1140,5811 12141 76,600 114,5221 89,592 40,586 Nel rasli flow from operating activities 162,11831 51,461 25.P.nalysis of chang(Js in nct fvnds 2022 Cash Flow 2023 Cash al baiik and in hand 873,119 164,9261 808,193 26.AgenLy arraiigements The Charitable Coinpany ?cl.' as an agent providing box office serdices in ihe year for other enlilies, the following Iransa¢lions have taken place in the year. ?.023 2022 Collected Fees ¢l)arged Amovnl included in crodilors at 31 March 49,038 2,759 32,741 7,458 658 3,232 34