BRITTENPEARS ARTS BRITTEN PEARS ARTS Company Registration Number: 980281 Registered Charity Number: 261383 ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 BRIThEN PEARS ARTS ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 INDEX PAGE NO.. LEGAL AND ADMINISTRATIVE DEfAILS INTRODUCTION FROM CHAIR OF BRITTEN PEARS ARTS 3-17 TRUSTEES, REPORT INCLUDING STATEMENT OF TRUSTEES. RESPONSIBIUTIES 18-20 INDEPENDENT AUDITOR'S REPORT 21 CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES 22 CONSOUDATED AND CHARITY BALANCE SHEErs CONSOLSDATED STATEMENT OF CASH FLOWS NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS LEGAL AND ADMINISTRATIVE DETAILS NAME Britten Pears Arts LEGAL STRUCTURE The Charity is a company limited by guarantee and incorporated in England and Wales, registered numbor. 980281 CHARITY REGISTRATION NUMBER 261383 TRUSTEES Sir Simon Robey (Chairl Sarah Faulder Dr Scot McKendrick (resigned 9.O¢lober 20231 Angela Mallinson Jamie Njoku-Goodwin David Robbie Janis Susskind Alasdair Tart Laura Wade-Gery Roger Wright (resigned 31 August 20241 Sarah Zins Lady Sarah Younger lappoinled 1 September 20231 Stephen Swtft lappoinled 9 October 20231 Dr Xerxes Mazda lappoinled 11 December 2023) EThollyn Wallen lappoinled 6 Ma￿h 20241 hlIatthew Gregory lappoinled 11 July 20241 Andrew Comben (appointed 9 September 20241 HONORARY PRESIDENTS The Lord Stevenson of Coddenham Colin Matthew5 HONORARY VICE PRESIDENT The Lor(S Geddes CHIEF EXECUTIVE Roger Wright Ir8signed 31 August 20241 Andrew Comben (appointed g September 2024) COMPANY SECRETARY Sarah Bardwell (resigned 31 August 2024) PRINCIPAL AND REGISTERED OFFICE Snape Mallings Concert Hall. Snape, Saxmundham, Suffolk IP17 1SP AUDITORS RSM UK Audit LLP Igl Floor, Platinum Building, Sl John's Innovation Park, Cowley Road, Cambridge CB4 ODS COMMERCIAL BANKERS Barclays Bank Plc, Suffolk Coastal Group, 4 Church Street, Woodbridge. Suffolk IP12 1 DJ INVESTMENT MANAGERSAND ADVISORS CCLA Investment Management Limited, 85 Queen Victoria Street, London EC4V 4ET LEGAL ADVISORS Prettys Solicitors. 25 Elm Street, Ipswch IP1 2AD INVESTldJENT PROPERTY ADVISORS Fenn Wirght Limited, 1 Buttermarkel, IpswichlP1 1BA Britten Pears Arts Financial Statements 2023124 Introduction At Britten Pears Arts {BPAI we continue to ensure that music. arts and herttage Iransfom people's lives, bring communf(ies together and enhance daily lrfe. We aim lo effect powerful positive change in and for Society and make the arts "useful We are internationally recognised yet firmly rooted in our local community and in Suffolk. During the year we have offered innovative leaming and training in music and heri(age, worked with freelance musicians and artists to deliver outstanding activities and provided audiences and visitors with memorable cultural experiences. lebrate tha commitment of staff, volunteers, musicians and artists who ensure the highest level of profession81ism, whilst being open and welcoming lo all. We ￿lebrate the amazing creative development programmes, the training for musicians, composers, young people, and emerging professionals, and the broad range of work we undertake in creative health settings. The professional resilience and rigorously high standards of the staff team, led by Roger Wnght, has been inspirational. Across the year of activities. lo March 2024. over 88,￿0 lickels were sold to 16,895 lickels buyers including visttors lo both our siles, the hugely successful and cri(ically acclaimed 74th Aldeburgh Festival and the year-round programme of performance and activities. We attracted 300h new bct)kers and continue lo develop ways lo maintain their engagement with BPA. The Red House continued to grow the reach of ils heritage and grounds and attract more visitors. The Archive connected with the public, academics and researchers as well as providing an insightful resource forlhe whole organisation and achieving accreditation in November2023. Our Community team has worked with nearly 8,000 individuals in a range of dNerse settings including the criminal justice system. care homes and schools. This has been achieved with the important and continued support of Arts Council England and our supporters. the individuals. companies and public bodies, Trusts and Foundations who gave us vital support during the year. The contribution from our trading arm also helps to ensure that we can fulfil our charitable objectives, and my appreciation 9￿S to all the staff and directors of Snape Mallings Trading Limited. Many thanks lo the Board of Trustees who were enormously supportive with their time during the year. Thanks lo the British Library nominated trustee Scol McKendrick who stepped down during the year. We welcome his replacement Xerxes Mazda alongside four further new truslges Stephen Swift, Sarah Younger, Errollyn Wallen, and Matthew Gregory. ExecutNe Director, Sarah Bardwell, left th8 or98nisation at the end of August 2024. Prior lo the merger which created BPA, Sarah was CEO of the Britten Pears Foundation. The Board of Trustees appreciate the significant role that Sarah played in driving the mergor and subsequently affecting positive change. not least in the area of Equity, Diversity, and Inclusion. whilst helping the organisalions ID integrate and consolidate. Underthe transfomiative leadership of CEO Sir Roger Vvright, BPA has continued lowork inlemalionally, positively impacting the lives of artists and aUdIen￿S with the breadth and depth of our work supporting local and regional music education and cornmissioning a large body of new work. Roger's legacy is considerable. The Board of Trustees would like lo express their heartfelt grali(ude for his dedication and his achievements over the past ten years. We a￿ also delighted and proud that he received his knighthood in the 2024 King's birthday honours list for $erviGes lo music. Finally. my renewed gratitude goes to our audiences, visitors. participants, volunteers, and artists for all that they do for BPA. Sir Simon Robey Chair Britten Pears Arts Britten Pears Arts Financial Stalements 2023124 TRUSTEES, REPORT (INCORPORATING STRATEGIC REPORT} The Trustees presenl their report along with the Charity's and GTOUP'S financial statements for the year ended 31 March 2024. The Charity airns lo promote and encourage the knowledge, study. teaching and practice of the arts in all their forms throughout the wodd and advance education in matters related to peace for the benefrt of the public,. promote and encourage any other charitable objed or p￿￿OSe and to engage in any field of charitable grant making activity permitted by English Law. BPA was founded on 1 April 2020 when Snape Maltings and the Britten-Pears Foundation merged. It exists lo ensure that the legacies of Benjamin Britten and Peter Pears continue to be enjoyed woddwide. Their legacy includes the Aldeburgh Festival, their archive. a cutting-edge programme of creative health work, the Brf(len-Pears. Young Artist Programme, the house where they lived and extensive learning and inclusion work throughout Suffolk and beyond. Their legacy also incorporates Éheir allilude, values and belief in helping cornmunilies disadvantaged in society and those who don't have access lo music or culture. BPA uses music to change and enrich thousands of Iwes every year, from nurturing young emerging artists to supporting people in challenging conditions, all whilst bringing worldopled member, Crispin Kelly. Charity Commission Code of Governance In February 2024 the board considered a report detailing an updated review against the Charity Commission Code of Governance, and an update on actions from the 2023 review. The actions for the year ahead include developing the Group Business Plan, a review of subsidiaries. developing a Iruslee recruitment policy and publishing a complaints policy on our websfte. Britten Pears Arts Finan(aal Statements 2023124 12- TRUSTEES, REPORT {CONTINUED} KEY MANAGEMENT PERSONNEL All Trustees and non-exe¢ulwÈ directors of Group subsidiaries, together with Andrew Comben (who took over as Chief Executive Officer on 9 September 2024}, Hary Young (Chief Oper*ing OffI￿rI, and Angela Treagust (Chief Financial Officer) are considered lo be the Group's key management personnel. Roger Wright (Chief Executive Offitsrl left the organisal￿n on 31 August 2024. Sarah 8ardwell (Executive Director) left the organisation on 31 August 2024. Remuneration levels for key management personnel are sot within the context of budgets and plans which are approved by the board before implementslion and include, where appropriate, fecommendalions from the Remuneration and Nominations Committee. Details of payments lo key management personnel are provided in Note 7. FUTURE PLANS BPA launched a Capital Programme during 2023124 wlh the appointment of a Project Manager in October 2024 who then conducted an extensive process lo appoint an experienced Design Team to deliver the Programme. A range of capital and maintenance works on the BPA siles al Snape and The Red House, some of which were put on hold owing to the pandemic, bul which wll bring improved access and fitness for purpose of existing buildings. energy efficieneies and opportunities for future ievenue generation. The organisalion will continue to look al ways lo achieve ils strategic objectives, whilst remaining financially robust, within a challenging operating environment. FINANCIAL POLICIES Rese￿eS Policy In 2020121, following the merger of Snape Mallings and the Briiten Pears Foundation, the Trustees agreed a new reserves policy for the merged organisalion. The Trustees concluded that they would aim that unrestricted and undesignaled (free} reserves, not backed by fixed asset5, should cover six months of projected charitable costs excluding depreciation. This is a number of about £3,600k and compaTes to actLJal free ￿SeNeS of £2,175k. Although we have fallen short of the targgl al the end of 2024, the business is actively working towards ensuring that the target is met over lime. Unrestricted General Reserves These reserves slaod at £2,943k al the start of the year and fell lo £2,175k on 31 March 2024. The £768k decreasg is the nel of £11.186k of unrestricted income offset by £11.316k of unrestricted expenditure and a £626k transfer lo designated fijnds, which includes £302k of fixed assets. There was £12k of investment and other losses. Unrestricted Designated Reserves A designated fund is retained for fixed assets, and a £240k depreeialion charge in the year, combined wi(h a £302k transfer into the fund, left a closing balance of £3,880k. Further to this, a designated reserve is held for'securing the Future. The prime motivation forthis reserve is acknowledgement of the fact that royally ineomÈ is lime-lirTiiled, and provision should be made for the point al which it will start to fall away. The reseNe also provides security against the potential reduction in other key income sources. This reserve will be built over a period of years, noting that the largest drop in royalty income will happen seventy years after Benjamin Britten's death in 1976. The aim has bean set to build a reserve of £15 million. On 31 March 2024 it stood at £1,211k. Separate lo the funds outlined above, the￿ ¢s also £280k held in other designated funds relating lo Red House capital projects. Aldeburgh Young Musicians IAYMI and Music Makers Programme. Expendrture from olher designated funds was 45k in the year with expenditure from the Syrme Hart Trust on AYM. Restricted and Endowment Reserves Certain reserves bear ￿$trIct10n8 on their use imposed by donors, with some of these limiting, or barring, access lo the donated capital. Details of reslrided and endowment funds, including those of a pemianenl endowment nature, are provided in Notes 18 and 19. Investments The Trustees are responsible for setting the Fund's investment policy and strategy and are authorised lo make any investment they consider to be beneficial. The Trustees confirm they have remained within this power and continue Britten Pears Arts Financial Statements 2023124 13 TRUSTEES, REPORT (CONTINUED to keep their investment policy and strategy under review. A review in 2022 of the fund management pDIici8s confimied that there were no specific ethical issues which would be in conflict with the Charivs objectives, and the responsibility of the board to protect BPA'S repLrtation. Investment Pro ies The Trustees Consider il appropriate to invest in commercial property Whe￿ there is a strategic fil with the activities of the Group and such action provides a rate of return in excess of 50A of investment cost after the deduction of operational expenses. ￿en vacant perrods arise, local agents are appointed lo manage new lenan¢y advertising and to provide advice regarding rent levels. Market Investments .Meelings are held with investment.advisors al least once during the year lo monitor performance and réviéw strategy. Key aspects of the investment policy include the achievement, within acceptable leve15 of risk, of al least market-rate income whilst taking a long-term view regarding capital growth. The current income target is lo achieve a yield in excess of the FTSE All-share Index yield after the deduction of management charges and for capital growth lo outperform the FTSE All-share Index over the long-lerm. a period defined as being not les8 than ten years. There is also an interest bearing 95-d8y account held with Barclays. Investment P ormance All investment propertie5 wero tenanted during the year. The tsrget income yield of above 50A of cost was mel. KEY PERFORMANCE INDICATORS BPA and its Group entities measure progress against a number of indicators sel out in annual budgets and plans. 11 has been following SMART objectwes agreed wrth Arts Council England particularly focussed on the Creative Case for Diversity. Non-financial indicators include public engagement and rea¢h, the number of Festival commissions and largeling a rise in international collaborations. The main financial indicators include royally income, box office performance, fundraising income, retail sales and investment returns. The Board reviews key performance indicators at its meetings dLtring the year through receiving summary papers and within the Group, management accounts. PUBLIC BENEFIT The Charity Commission has distilled a number of principles of public benefri which must be addressed by charities. Any benefit arislng from an organisalion's adivilies musl be to the public or a section of the public. in respect of which the opportunty to benefrf( musl not be unduly ffslricled by ability to pay any fees Gharged,. and that people in poverty musl not be excluded from the opportunity to beneffÉ. In setting the level of I￿ke1 prices. fees. charges and concessions, the Trustees give careful consideration lo the accessibilty of concerts 2nd other projects lo Ih05e on low incomes. BPA'S pricing rellects ils aim of enabling all members within our communty, whatever their means, to lake part in ils activities. Tick81 pricing is generally dependent on event costs and seat location. Ensuring wide access is a priorty, r?sulling in lickel prices for many everits starting at or below £10. Concessionary prices are available al most concerts for younger people. Some events are undertaken lo generate public interest in the Charity's acliv((ies and are free to all. We are fortunate to have a loyal base of Friends and other supporters who aro ab￿ lo access a priority booking period. However, a number of tickets a￿ held back lo allow the general public the opportunty of purchasing seals al an otherwise sold-out concert. New audiences are eneouraged by the availability of £10 t￿ketS which are put on sale after the supporters have booked their lickels. Aelivities led by the LeaTning and Inclusion team. including working in care homes with people with dement￿, are making a positive difference to the physical and mental wellbeing of the public. Some projects undertaken by the Charity require participants lo pay for their travel and other costs. Financial support 18 made available to those in need such that. in approprtale circumstances, all costs are waThied. The Snape Mallings and Red House sites are steeped in history and are amongst Suffolys most v151ted tourist venues. The Maltings has open access and is available lo the public for recreational use such as walking, atthough visitors also enjoy the site's performance, catering and shopping f¥ililies. VOLUNTEERS Briiten Pears Arts is grateful to have the support of a body of unpaid volunteers who perfomi important duties at events including ushering, programme selling, gallery and museum invigilalion, archival cataloguing, gardening and leaming support. During the year, we w$re pleased lo have 156 volunteers12023: 2091 who worked a total of Britten Pears Arts FinanGial Statements 2023124 14- TRUSTEES, REPORT {CONTINUED} approximately 10,889 hours12023.' 13,252 hours) and which would otherwise have cost an eslimaled minimum wage of £113,46312023'. £125,894}. Wilhoul the loyally and dedication of these peop￿, the organisalion would be forced to reduce ils progomme of events or increase concert prices. FUNDRAISIN Sections 13 and 14 of the Charities Act 2016 address public concem about how charities raise funds. The Charty Commission has issued guidance requiring trustees to confim that fundraising artivilie5 are compliant ￿th standards sel out in the Code of Fundraising PraCt￿e as well as those required under other guidelines and legislation covering areas such as dats protection. Monitoring fundralslng activities The Director of Development for BPA'S monitors aelivilies undertaken by this department across all Group enlilies. Regular reports are provided lo the Chief Executive and each Board meeting of BPA includes a review of activ[t￿S undertaken by the Fundraising team. During the year all fundraising activities were performod by BPA'S staff. No professional fundraisers were used to earry out fundraising activities on behalf of the Charity or any Group entity. Consequenlty, no fees or commission were paid lo professional fundraisers {2023.' £nill. Voluntary self-regulation The Fundraising Regulator is an independent regulator of chariL9ble fundraising, estsblished lo strengthen the system of regulation and preserve public trust in the nol-for-profil sector. The Chaitly has voluntarily reg￿tered wth the Fundraising Regulator and supports the aims and objectives of this organisation. Compliance with standards The Charity's fundraising activity complies with all relevant legislation and regulation, including the General Data Protection Regulation, and the Privacy and Electronic Communications Regulations 2003. The Trustees are not aware of any breaches of the Code of Fundraising Practice or other slandords. Complaints relating to fundralsing acLTvities Tho Charity has a policy regalding complaints received in relation tr) ils fundraising aclivilies. No C¢)mplainls were received in the year12023.' none). Vulnerable people, unreasonable behaviourand unduo pressure The Charity has never Ljsed telephone or doorstep methods lo induce donations trom members of the public and stopped sharing its data with other organisalions. Existing supporters and potential donors are required lo provide their prior consent lo the use of their data, particularly in relation lo receiving communications aboLJI fulijre events. The Charity's website and printed brochures encourage members of the public to participate in a number of supporter Schemes or lo consider leaving a legacy in their Wills. The Charity does not send unsolicf(ed mail or use other melhtsjs of contact that are not initiated firsl by the prospective supporter. EQUITY DIVERSITY AND INCLUSION BPA published it5 updated Equity. Diversity and Inclusion Slalemenl and the Equty, Diversity and Inclusion Action Plan during the year. This work is embedded across the organisalion with leadership driven by the Equity. Diversity and Inclusion working group that meets regulady, by the Exe¢ulwe Director, who is also a member of national EDI ne￿rk, and by a Iruslee ohampion. The Group aims to continue developing accessibilily and diversrty in all areas, whether il be for staff, volunteers, 8udiences, customers. performers or participants. Its mission is to make new voices heard within the oiganisalion, including at board level. To this end a clear programme of largels and actions has been dev&loped, training undertaken, and the voices of those with protected char8cleristies listened to, taking the particular challenges of the region into account. The programme present￿ by the Charity on ils various stages continues lo represent an extremely wide range of genres and styles delivered by a diverse group of musicians and performers and lo maintsin strategic audience development approach that focussed on diversity. We maintained 300k of bookers as new audiences and encourage the return first lime bookers. Continued efforts have been made lo diversify our workforce ￿¢rUitMent. The Group is an equal opportunities employer and has appropriate policies in place. Partners include Suffolk Refvgee Support, Diversity Dashboard, and Black Lives in Music. In addtiion, first interviews are offered online, together wrth help with travel costs for interviews in person. The Group is working lo improve access lo the sile and to ensure access lo all is extended. It r8 exploring how the barriers of geographical limilali)n. the demographic of the region and the remote l¢xations of our siles can be overcome. Britten Pears Arts Financial Statements 2023124 15- TRUSTEES, REPORT ICONTINUEDI ENVIRONMENT BPA rewgnises that the climate crisis is one of the most important issue facing the planet today. We acknowledge our infFuen¢e as a major arts organisalion and owner of two visitor destinations and embrace our responsibility and duty to reduce our csrbon footprint. It is the 8mbilion of BPA and Snape Maltings Trading Limited lo be a force for change an(4 lo engage all our staff and visitors in the mission. Action plan Inrtiatives in 2023124 included commissioning detailed studies and options appraisals for green energy solutions, the creation of a free (and popularl bus seNice for the Aldeburgh Festival, and an effective campaign to reduce visitor waste and increase recycling. There has been an increase in the number of events with RSPB to promote the enjoyment of the environment and local landscape. In 2023124, BPA'S music facilrties al Snape Mallings generated 832 tonnes C02e. 13Y• higher than in 2022123. Although carbon generated from energy use and waste were 8ignificanlly down, there was an increase in eslimaled Scope 3 carbon generated from audience travel due to increased visitor numbers and a change in the calculation methodology. The most impaclful areas wgre.. 246 lonnes of carbon dioxide 127 tonnes of carbon dioxid& 385 tonnes tsf carbon dioxide Energy (down from 2611 Waste (down from 2951 Audience travel (up from 1691 (Scope 3} We continue lo use guidance created by the Theatre G￿en Book project to help shape our action plan to reduce this carbon footprint and will use our upcominu capital programme to help set ambitious carbon reduction targets. The eapttal programme, scheduled to be delivered by June 2028, has sustainability as a key pillar and will aim to make Snape Mallings a regional exemplar of arts organisalions transitioning lo using green energy. Ingleton Wood has been appointed as the programme's sustsinability consultants. Key project elements include,. Providing a low carbon allernalive lo the oil-fired system that currently heats the concert hall. the Hoffmann Building and the Britten Pears Building. The current strategy is lo use the spare capacity of an existing biomass boiler, with woodchip sourced 3 miles from Snape Mallings. By following this strategy, carbon emissions for energy would be reduced by 900￿. The team remains alert lo drfferent solutions. Insulating the concert hall roof and replacing the concert hall's lighting system with LED allernalives. A grant has been awarded lo fund more than 50¥0 of the costs. Installing al least 600sqm of photovoltaic panels on soulh-facing roots at Snape Mallings, subject to Listed Building Consent. A local transport initiative to provide electric minibuses to serve the community and visitors to our sites. The capital programme'$ Delivery Committee has been given oversight responsibilily for BPA'S carbon reduction plans. UALIFYING THIRD PARTY INDEMNITY PROVISIONS The Charity has made qualifying third-paty indemnity provisions for the benefit of its Trustees during the year. These provisions remain in force al the reporting dale. UDITORS RSM UK Audit LLP have indicated their willingness to ¢onlinue in office. A resolution lo re-appoint RSM UK Audit LLP as auditors for the ensuing year will be proposed at the Annua General Meeting. In so far as the Trustees are aware.. there is no rel&vanl audit information of whih the Group's auditors are un8war8'. and Trustees have taken all steps they ought to have taken to make themselves awar& of any relevant audtt infoimalion. and to eslablTrsh that the auditors are awaro of that infomiation. Britten Pears Arts Financial Statements 2023124 16- TRUSTEES, REPORT {COf4rriNUED) STATEMENT OF TRUSTEES, RESPONSIBILITIES The Trustees (who are also the Directors of BPA for the purpose of company lawl are responsible for preparing the Trustees, Report and the ac¢ounls in accordance bwlh applicable jaw and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Praclicel. Company law requires the Trustees lo prepare accounts for each financial year which give a true and fair view of the state of affairs of the Charrty and the Group and of the incoming resources and application of resources, ncluding the income and expenditure, of the Group for that year. In preparing those financial statements. Trustees are required to:. sele¢l suitable accounting policies and then app￿ them consislenlly- observe the methods and principles in the Charities SORP., make judgements and estimates that are reasonable and prudent., stale whether applicable UK Accounting Standards have been followed subject to any material departures disclosed and explained in the financial stalemenls., and prepare financial slalemenls on the going concern basis unless it is inapproprfale to presume that the Group will continue in operation. The Trust¢e$ are responsible for keeping proper accounting records which disclose wtth reasonabk accuracy at any time the financial position of the Charity and which enable them lo ensure the financial slalements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the Charity's website. Lagislalion in the United Kingdom goveming thè preparation and dissemination of financial slalement5 may drffer from legislation in otherjurisdictions. By order of the Trustees and signed on their behalf on 11 October 2024. Sir Simon Robey t£KSlGN Chair 4LRJYP28-t?X15LLQ Britten Pears Arts Financial Statements 2023124 17- INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BRITTEN PEARS ARTS Opinion We have audited the financial slalements of Britten Pear5 Arts {the'parent charitsble company'l and its subsidiaries Ilhe'group'l for the year ended 31 March 2024 which comprise the Consolidated Slalemenl of Financial Actmties, the Consolidated and Charity Balance Sheels, the Consolidated Slalemenl of Cash Flows and notes to the financial ststemenls, including signrficant accounting policies. The financial reporting flamework that has been applied in their preparation is applicable law ané United Kingdom Accounting Standards, including FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland. (United Kingdom GenerallyAccoptsd Accounting Praclicel. In our opinion the ffnancial slalemenls-. give a true and fair view of the state of the group's and the parent charitable company's affai¥s as at 31 March 2024 and of the group's incoming resources and application of resou¥ces, including ils income and expenditure, for the year then ended., have been properly prepared in accordance with Untted Kingdom Generally Accepted Accounting Practice- and have been prepared in accordance with the requirements of the Companies Act 20(￿. Basls for oplnlon We conducted our audit in accordance wth International Standards on Auditing {UKI IISAS IUKII and apPI￿able law. Our responsibilities under those standards are further desciibed in the Audlcorfs responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charilabtè company in accordance with the ethical requirements that a￿ relevant lo our audit of the financial slalemenls in the UK. ineluding the FRC'S Ethical Standard and we have fulfilled ourotherethical responsibilities in accordance with these requirements. We believe *hal the audit emdence we have obtained is SLrffi¢ienl and approprrate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of aeeounting in the preparation of the financial slalemenls is appropriate. Based on the work w6 have performed. we have not idenlffied any material uncertainties ￿lating lo events or condrf(ions that, individually or collectively, may cast significant doubl on the group's or parent charitable company's ability to continue as a going concern for a period ol al least twelve months from when the financial stslemenls are aulhorised for issue. Our responsibiifties and the responsibilities of the Iruslees wilh respect lo going concern are described in the relevant sections of this report. Other information The other infomiation comprises the information included in the Annual Report other than the financial slalemenls and our auditor's report Ih&reon. The trustees are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other inft)rmalion and. except to the extent othen￿lSe explicitly slated in our report. we do not express any fomi of assurance Conclusion Ihereon. Our responsibility is to read the other infomalion and, in doing so, consider whether the other infomialion is materially inconsistent w￿th the financial statements or our knowledge obtained in the course of the audit or olhemise appears to be materially misslaled. If we identfy such material incon5iStencies or apparent material misstatements, we are required to delemiine whether this gives rise lo a material misslatemenl in the financial slalemenls themselves, If, based on the Work we have performed, we conclude that there 15 a material misstalemenl of this other information, we are required to report that fact. We have nothing lo report in this regard. Britten Pears Arts Financial Statements 2023124 18- INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BRirrEN PEARS ARTS (continued) Qpinlons on other matters proscribed by the Companles Act 2006 In our opinion, basecl on the work undertaken in the course of the audit: the information given in the Trustees, Report, which includes the Direclor5' Report and the Strategic Report prepared for the purposes of company law, for the financial year for which the financial stslemenls are prepared is consistent ¥Mlh the financial slalements., and the Directors, Report and the Strategic Report included vnthln the Trustees, Report has been prepared in accordance with applicable legal requirements. Matters on which we are requlred to report by exception In the light of the knowledge and understanding of the group and the parent charitable company anol their environment obtained in the course of the audit, we have not tdentffied material misstalemenls in the Directors, Report. or the Strategic Report included within the Trustees, Report. We have nothing to report in re￿ct of the following matters where the Companies A¢1 2006 require us to report lo you if, in our opinion.. adequate aecounting records have not been kept by the parent charitable company, or returns adequate for our audit have not been received from branches not visited by us.. or the parent charitable company financial stslements are not in agreement with the accounting records and returns,. or certain disclosures oftrustees, remuneration specifiod by law are not made,. or we have not received all the infomalion and explanations we require for our audit. Responsibilitios of trustees As explained more fully in the Statement of Trustees, responsibilities sel out on page 17 the Iruslees (who are also the directors of the charitable company for the purposes of company law} are responsible for the preparation of the financial slalemenls and for being satisfied that they give a true and fair view, and for such internal control as the trustees delemiine is necessary lo enable the preparalion of financial statements that are free from material misslatemenl, whether due lo fraud or error. In preparfng the financial slalements, the trustees are responsible for assessing the group's and parent charitable company's ability to continue as a going concem, disclosing, as applicable, matters related lo going concern and using tho going concern basis gf accounting unless the trustees either intend to liquidate the group or pa￿nI charitable company or to cease operations. or have no realistic allemalive bul lo do so. Audltor's responslbllltles for the audit of the flnancial statemgnts Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole are free from material misstalemenl, whether due lo fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assufance, bul is not a guarantee that an audit conducted in accordance wrf(h ISAS IUKI will always deled a material misslalemenl when il exists. Misststemenls can alise from fraud or error and are considered material rf. individually or in the aggregate. they could reasonably be expected lo influence the econom￿ decisions of users tsken on the basis of these financial stalemenls. Thg extent to which the audit was consldered capable of detecting irregularitles. including fraud Irregularities are instances of non-complian￿ with laws and regulations. The objectives of our audit are lo obtain sufficient appropriate audit evidence regarding compliance with laws and regulations that have a direct effect on the determination of material amounts and disc105ures in the financial slalemenls. lo perform audit procedures lo help idenlty instances of non