RÉGSTERED COMP• 14UM8EK. 01393717 (Eryland and W31esl REGISTERED CHA NUMBER.. 276957 Tru5teÈs znd Cor6olldated Rn I Statements for the Year Ended ber 2025 Fe5tr¥al Llrnlted SMH Group Audit StatutoryAuditors 5 Westhrook Court Sharrowvale Road Sheffield South Yorkshire $118YZ
cont* ofthè finamalststemènts rEn r 2025 Pa8• Report 0fth¢Trle¢S 7 to 9 Consolidated Staternent of nancial Acbvii io con$d41¢d Statement of P•andal Po4tlon li Charlty 5taternent of RnxKial POSIn 12 Consolidated Statement•f Cash Flows 14 Notes to the An3ncTral Statern 15 to 29 Detalkd Statwn•nt oFFin•nty•l Artivit• 30 tts 31
Tr for the Year Ended 31 October202S The trustees, who are also directors of 8uxton Arts Festal Umited Ithe "parent charitable EompanVI Icr the purposes of the Cornpany Aet 20C6, present their rep)rt with the financial ststements of the charirabte company for the year ended 31st October 2025. The trvstees have adopted the provisions of Accounting and Rew)rting by Charities.. Ststement of Recommended Prartice applscable to tharities preparing their accounts in accordance with the Finèneial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102, effeaive Istjanuary 2Q191. OBJECTIVES AND ACTivmES Objrt5 and alms The objects and aims of Buxron Arts Fettivat Ltd remain unchan8ed.. to Produ and present the annual Buxto Intern3tional Fe5tiV31 IBIFI. Slgnfflcant actl¥ttles The major areas of activrty are ¢Jpera, rnC concert5. litetsry fftnts. proRrammes to develop Your singer5, music¥ans and techftical support staff. outreach to local people and new audiences. PUtC benefft BIF produces. yesents and tommissi(xis operas and music theatre &th a wide appeal. induding rare or les5 often performed operd5, as well as more powlat w(rts designed to engage a national and irsternalional 3Ldience of varyi ège groups, shaiing new as well as often overknked work a wider audie. BIF presents a varied programme of international quality cla55ical music 115. jazL and literary events. designed 10 expand, and delight the audience. 81F works hard to raise private as well as public sertor spon50f5hip to enable high quality WO to be experienced at affordable prices and in more intimate surToundings than many tradilional concwt venues. thus expandingthe 3ppeal of claswcal music and literatre to 3 Wid Budnce. BIF has an atnbitious outreath and audience devebprneni programme working with a variety of partners to subsidtse and attract younger audien¢esto dassical music and literature and to enable rn0 to participate in music-makin8 and literary debate. BIF has a growing number of programmes to de¥elop young slngers. musioans, director5. pfoducers and techrsic315UPPQrt profe5sion815. BIF champions and embraces the Multrfted and (omplex natore of diversity at board level. among the staff and the creatwe teams. Page I
of theTrustees ar Ended 31 Cktober2 ACHIEVEMENTS AND PERFORMANCE The Buxton Intemaiional Festival of 2025 was acdaimed by critKS, audCe and Its many artists and performers 35 another outstanding success. The year began with a trip io Lisbon in Apn"I where last yearfs five-star Handel Oratorio, 11 Trionfo del Temp) e del Disinganno, opened to packed houses and prolon8ed standin8 Ovatitsns. Llsbon Opera Subsequent took iton tourto Portugafs majOrleS where it reteived similarly enthusiastlc leptIonS. The 2025 Buxton International Festiwdl took audiell on a Journ of from the 17th through to the 21st tenturies.. C.17th Charpentierfs L3 Deseente dorphee aux Enfers- Cl8th Mozarfs first opera. The Impresario,. C.19th Ambroise Thomas 8rand opera Hamlet; L 201h an innovative pairin8 of Bernsteln's Trouble In T3hiti with Poulends Voix Humaine.. and C.21st Five. twenty-minure. operas commissioned two years a80 by the Festival from youn8 writer5 and comp05ef5 vtho had never wtttten an opera before. The Festival ¥vas partKul?rly delighted by the ¥e5POll5e to the new comrni$5ions whkh won unrversal plaudi 3nd five-stsr reviews. We were pleased to welcome back the Orchestra of Opern North to play for Haml¢ under the baton of BIF'S ¥rt15tst tlirèttor Adrian Kelly. wilh two exceptional and highly acdaimed sin8er5 in the title roles. Gregory Feldmann and Yèwon Han. and we celebrated the reation of the new Buxton Intemation31 Festival Orchestra with 'lrnpresè¥KJ' under the baton of Dame J3ne Glover who gave them high praise ard won cr11bl appreciatÉon in It press. There was once ag3in a record ftumber ol sok1-OUt evenis induding all three performances of Orphee with Vache Baroque, and many of the recita15 and literary talks= Sir Stephen Hough. Sècconi Quartet, Roderick Williams. Kings Singers and Tèllis Stholars, The English Concert. Flbonacci, Imr6en Coppef and Benjèmin Grosvenor.. Petroc Trelawny Sarah Rainsford. James Reebanks, Jonath3n Sumption. Willièffl Dèlrymple. John Trace. Gordon Carera. Helen Castor, Sirnon Jenkins and the Rev. Richard Coles among Others. also had its falr5hare of sell-outs wlth Rumer, Barb Jungr and a special event in which a large cohort of the Orthestra of Opera Norrh let their hair down to tearn up with Liizie Ball. Clare Teal and others to set the Opera House rockine. The double &ll of Berft5teiD'5 Trouble in Tahiti and PouletTrds Voix Humaine went on tour to Our P3rtner5 at the Theatre Royal in NorwKh where it wa5 a150 extremely well r1ve. All these achlevernents have been made pOlble by BIVS outstsndlng ueative, administrthe and tethnical support teams by Chief Executive Michael Williams and Arttstic Dirertor Adrian Kelly. BIF is also 8rateFul to the supporttve venues tn Buxton who enable the festiyol to tske place. The Buxion Opera House. St John's Chuich. The Pavilion Arts Centre. The Octagon cOnrt Hall, The Crescent Hoiel and The No 6 Tea Room5. The in¢reasirg number of eThts wthlch sdl out 3kno before ticket sales a open to the generdl pub14c ha5 enSUd that membership of the Friends 15 a5 populai as ever and many existing Fiiend5 have upgraded their membersh¥p leve15 in order to get ear booking priority. A number of 'Friends'. ès well as other opera enthusiasts, have begun sponsortng fvture WO and the syndKe rnodel of financifi8individual production5 i5 provln8 increasingly popu13r. BIF'5 A550Clate Board membets. young arts professionals uftder the age of 35, coTrrinue to grve the Boaid acce55 tt) a much wder range of ideas and experience. Rebecca Anderson lSre¢l at the end of this h'nanci31 year. Rebeco was also selected some years ago a5 one of our YOU ArtÈsts and has sung in a number of producbons. The BoBrd has been dellghted to have her Insights oyer the past few year5 and 8rateful for her significant contribulitsn. We wsh her well in her developing careef. Singer and DiTertor. Bradl Tra$. has been josned by a newAssociate Board member, Bence 02vid Xalo, also a busv vovng Opera Direaor. The Nexr Generatton Youtbg Fllends, scheme continues to 3ttract new membersh¥p, and BIF i% workn.fig on a range of intrtiatives to attrau more yourtg people 35 well as broaden the audien in general. The Board 15 extrewnely sad to rewrt that thi5 year we lost one of our rnost valued colleagues. Michael Harper, the ienowned American counter tenor and much4oved teacher, died suddenty at the age of 61. His brother and partner joined us in celebrating his lrfe and Immense conthbubon to rnUsK anLI the development of young voice5 at a spec&al co[rt featuri the wnners ofthls yearf5 Wiarn Howard Musi¢Mmpeiiiion whkh Michad created. Pa8e 2
nArt5 rtoftheT Year ErKled 31 October 2025 The Friends. Is Inwral to the sutcess of the Buxton Intwnational Festwal provTrding rwlar fvnds. making up 3 key part of the audien, supporti year-round FpL1T events and 5upptying the cts of the hugely valuable volunteer lorce. Professor Tony Parsons. lon8 time TreasUr of The Friend5'. Stepped into ihe role of Chairrnan thls year and the company is grateful for all he is dolng to support continuin8 su¢cs. The Cornpany also weleomed a new Chair of the Foursdatton, Kate Redford, who is a loryg time and experienced Foundation Trustee. The Board of BIF is gratefvl to the Arts Council England and the High Peak BoroL¢gh Counol lor their 0Bling support. to our generous indMduaS donors, Trusts and FoundatnS, and to our many partnews, ICKa1 in 8uxton and in Norwch. and increaslngfy overseas. Oe5Plte the confjnuing challerys presented by Ihe economic outlgoi the Buxton IntematK>nal Festival suc¢essfvl produced S fiw5t class. (rttlcal accLiimed. opera5 Wus fve new short work5 which were lauded by the critic5. We estsbllshed our own pfofe5sional orthestra. which will be a feature in futyre years. We conJnued to delNer wide ranging hlgh valued outreach programmes to all age 8roups in the community.. enhanced further our pro8rammes to mentor and develop [OfeSsiOnal opportunit5 for rnng artists. rnusician5. tethnioans and cre3tive5 while fvrther enh3n(ing our feputation for afFowdèble. international quality. infiovaiive Pfogrdmming. Sorne of the bigEest names in classical music and literature featured among the 167 events across 17 daysl Prudent planning to enable innovation and irscrea5inÈ ambitlon, the assurance o15UPPLrt from our lae and growing band of 'Frtend5', a numl)ec of n longer-term (lonors. the loyalty and ueativÈty of stsff. to8ether wilh outstandlng executive 8nd art15tit leadership enable the board of the 8uxton Internatiollal Festival to PreSentth report confident ol a very exiitin8 future. FINANCIAL REVIEW rinanclal position The board is pleased to report that a prudent coDttn8ency and ieserves poliry, tO8ether with the continuin8 financial support of rnembers (the Friends). donor5. Pri¥3te and puuic spon50r5. eTraNe the directo[5 to 5t3te confidence that the charitable cornpany remaills a going conceTn. 8uxton Intetnaiional Festlval ends the financi¥ year with a cash surplus of £469k12024.. £436kl. Thls does not inclLKle the rnonies held by Friend5 of Buxton International Fest¥val Irewstered chartty number 51397013nd Buxton Festival Found?tion Iregtrstered charlty nurnber IC862691, both of which hold fvnds separately tyjt exlsi solely to suppoit the Festival. R•serves pollcy In recognition of ihe trnhet risk of the busirw model. S>son5 kamed from COVID-19. and the continuing challenges of the economic outlook, the Board ha5 rewe£d the level of free reserves lynre5trided erVeS ngt Used, e.g. to fund flxed as5etsi to ensure the Buxton Arts Festival Ltd can not onty continue securely but enttan its current lÈvel and quality of performance. Identing and rnanagir¥ risk o an lrnportant part of go)d charity 8ovemance and a means to ensuring long-term financial resilience. Following a risk-based assessment of ifttome and w)enditure. and ieco8nttlon of the inueasln8 scale and èrnbltion of rhe FestlV31. the 8oard ie501ved that a target reserve be set for the low point of our financial year leml Februaryl at the equivalent to one yearfs operational costs. contractual o5ts and devdopment C05ts-which trnnslate5 to a year- end target of £750,( The level ol reserves Is felt appropriate considering Buxtoa Arts Festlval operates an an#ual f@stlvèl th an increasin8ly ambitious development proÉramrne set 38airst the unpredictability ol box olnce sales and audien nrnber5. Once the reserves target has been meL ary surplu5 ansing in the year In the lestid1'S ac¢ounts w11 be paid overto 8FF (Buxton Festival Foundationl to be lodged in its endowment fund forthesole use and future benefit of BIF as and when required. In this Eontext'surplus. represents net income a5shovm in the Ststement of Financial Actrvities net of any ring-fenced amount. Page3
Year Ended 31 Octcéer STRUCTURE, GOVERNANCE AND MAt4AGEMEKr GcNernin8documa Buxton Arts Fe5tval Ltd ts a drItsb1e tornpany rnited by guarantee governed by its Mernorandum and Artldes of Associ£tion dated 21st September 1978 and amended 1st July 2(X)9. tt is registered as a charity with the Ch311tv Comm555ion. There are currently nine director5 eath of whom agree to contribute £1 in the event of the charity winding up. Appolntrnent of dlrectors As Set out in the Articles of Assocsation the ch3irm3n of the dlrectors is elected by the director5. The number of dirors shall between ty40 and fifteen., the dirertors afe appointed by the members with a view to maintaining an appropriate knowledge ènd sk¥ll ba5e_ All members are arculated prior to the afinual general meeting advising them of the rÉtiting diretton and re411% nomlnations of directofs for the annual election. Directors retire by rotation and may stand for -etertIon. Group strucwre Burton Arts Festlval mIte(l Is paTrt company to a wIlty owned subsidiary. Buxton Fest3[ Productions Lvnited IregSstered company nurnber 095LW881. The company covenants to pay to the charrty by way of gift aid 115 fv11 taxable net profft frorn all tw3din8 income lor the ffinaKialyear. oanisatio The board of dlrectors 8ovem the charitae ¢¢1pany. The board meets quarterly. or more often in exeeptional eircumstan¢es,' there are sub-committees covering Audit and Risk, Norninations and Rernuner3tion. There is a150 a Fundraising and Development committee in partnef5hip the Friellds and BFF. The chief executive and the 3rtistic diTector have authority, withtn terms of dele8aison approved by the board, lor operdlional matter5 including finan. employment. a¥tystyc programme and perlorrnanctrreiated activlty. Director Induct¥1 New dirertors receive information about tharitable Ix>mpany, the deci5ion-maklng process, recent artistic programmes. aTrd financial perforrnan. Therf meet key eM0vee$ and Oth dirÈttors. Directors are encouraged to attend approprlate external tralnlngevents rethesefaCÉltrate dlstharBlng their office. Related parties Buxton Arts Festival Ltd enjoys the support of two separate tharities. both of whith are Whol dedicateil to raising money to support the BIF.. the Frlends of Buxton Festival (the Frienthl is a membershlp and fund-raisin8 or8ani5ation dedicated to SUPPQrtin8 The Festiv31. which budRets to ralse circa E200k per annum. Membership renewd15 Cwtinue to be stron8 and the take up of the direct debit facility is pleasin& and the Buxton Festival Foundation IBFFI. like the Friends. a 5epar¥tely gi%te charity admirsistered by independent trustees. It is dÉsi8ned as an Endowment Fund for the BIF chariiable cornpany. BFF wll use its fvnés to provide shorr- temi inierest-free osh fl¢)w faciliries to 81F, if rCessary. and makes donati(X)S ttl support BIF development. At October 2025 BFF held net assets of circa £SOC The BIF charitable company ha5 a commerctal relationship with the HEh PeakTheatre Tru5L a tharty, which operates Buxton Opera House. Arts Councll England and High Peak Borough Council prowde an elemerrt of core funding in support of the artistic pro8ramme as an amenity for local people and the ws(Jer publio
rtofthe Tnee$ ftythe Year Ended 310(td>er 2025 Risk m¥naEement The directors have a risk m3na8ement strèteÈy whh comprise5: - 8 r¢sk register together wrth a quarterty review of the ri5ksthe charitable cgmpany mayface. - the establishment of policies. systems and procedures to miti£aiÈ risks KlÈntrfiÈd; and the implementation of SKJIKies and procedures des1v to mininmze any potential impart the charitable company should risks materialize. The dlrectors have assesse(l the major flsks to whkh the thaiitaNe company been exposed In recent yea, includin8 the unprecedented impaet of Covid 19, inflation. the Unrtain eWn0m c4Jtlook and the increa51ng amount of cyber fraud. The dttor$ have paiLI particular attertrtlon to rlsks lated to the operations and the finances of the ch3rit3ble compaThy in the present environrnerrt and are satisfied that 5y5terns are in plate to mitigate exposure to rlsks, In partl¢ular the ability io continue to cover all costs as fall du¢ the level of $31e5 and fundraisin& reputation and public impact. A key element In the managernent of financial risk is the 5ettifi8 of the reserves policy which is reviewed annualty by the board. The directo regularty review ihe risk register and all policies ¢f the haritable companyto ensure it has measu5 in a¢e to protert staff. customers and the wider community. REFE RENCE AND ADMINISTRAnvE DETLS RlStered Comp•ry nymber 01393717 If ng13nd 3fitS Wales) Re£istwed char number 276957 ReStEred offi 3 The Square Buxton Derbyshire SK17 6AZ Trustees J D Glover Ms F M S Goodey CBE DL Ms E J K Gottlieb M J Harper (resigned 10131251 MS A Lydford M E Sutherlan¢ Ms C Wallace R C A Eastwood S H3slam Ms D M Bank513PPOinted 271121241 Company 5e¢r*ry C HolSlday AudIr5 SMH Group Aulfit Statutory Auditor5 S Westbrook C¢xJrt 5harrowV3le Road ShefField South Yorkshite Sll 8YZ Page S
for the Year Ended 31 October 2025 TRUSTEES. RESPON51BILrfYsTATEMEP The trLEStees (who are also the directors of BU%t Arts Festwal Ltd for the purw>5es of company lawl are responsible for preparin8 the Report of the Tnjstees and the financkal staternents in accordance w•ith applicable law and Unit KSngdom Accounting Standard5 (United Kingdeffi Generalty Accepted A¢cwnting Prarticel. Company law requires the trustees to prepare finanual sfdternertts for eadb financial year tch gtve a true and fair ew of the state of affairs of the charitable company, induding a statenpnt of irorne and expenditure and a balance sheet for that period. ln preparing those financTral statements. the tnjstees are regul to.. select 5uitsble accountin8 policies., - observe the methcds and principles in the tharity SORP.. - make judgements and estimates that are reasorBble and prLKlerttr. and - plep3 the financial ststemenrs on the going concern basis unth rt is inappropfiate to presume that the tharitable company will conttnue in bu51nes5. The trustees are responsibte oi keepin8 proper accounting records which disdose with reasonable accuracy at anv time the finan021 PDsrbon of the ch3ritable company èrKI to able them ro ensure that the financi31 statements cornply with the Compartles Aci 2C#J6. They are also re5ponsitye for 5ateguarding the assets of the charitable cornpanv and hence for takln8 reasonabje steps for the pre¥tiOn and detection of fT3ud and other 1rbrItie$. In 50 far as the tru5tee5 are re= there is no relevant audit infomiation ol whith the tompany's auditors are unaware.. and the trustees have taken all steps that they ought to have taken to make themsefves aware of any relevant audlt infomation and to establlsh that the auditor5 are awa of that nfOrmaOn. AUDITORS The audltors, SMH Group Aud j wll be proposed for re4ppo1ntnt ot the forthcomlreAnnual General Meeting. Approbd by orderof the t*)ard of trustee5 on.. .. Svdned on tt5 behalf by.. Ms F M 5 Goodey CBE DL- Tr Page G
rtofthel Oplnlon We haye audsted the financial statements of Buxton Art5 Fe5tiYdl tsrnited (the 'parent charitable cornpany'l for rhe year ended 31 October 2025 which comprise rhe Consolrdated Ststernent of Fin3nci31 Activities. the Consolidated Statement of Fifiana31 P0sOn, the Charity stsiement of Finèt)tial PositKJn the Consolidated Statement of Cash Flows and notes to the financial statements. indudln8 3 stsmmary ol sEnifi£ant accounti l£le5. The financial ¥eporting framework that has been apled in their preparation is applicable law and united Kingdom Accounting Standards (United Kid0M Gweralty Accepted Accounting PradKel. In our opinion the financial statements- 8ive a true and fair view ol the state of the tharltable group's affairs as at 31 Ortober 2025 and ol Its Incoming resources and application of resources. includfi irs income and expendituie, fortheyear then ended; have been properly prepared in accordaftce with United fingdom Generalty Atcepted Accounting Pratt5.. asMI have been wepèred in accordaTrce with the requirernts of the Cixnpanies Act 2(YJ6. Basls for oplnlon We conducted our avdit in a(rdance with Irrtemat1aI Stsndards on AudItI IUKI IISAS IUK)) and applicable law. Our responsibiltties under those stsndards are fvrther described in the Audytors, re5pon5ibilttie5 for the audtt of the financial 5tateffleTrts section of our report. We are Indepdent of the charitable 8roup in accordaMe with the ethitsl requirements that are relevant to our audit of the financial statements in the UL incltsding the FRCS Ethical Standard, and we have fvifilled our other ethical pOnsI1111es in accordance with these requirement5. We believe that the audit evidence we have obtsined t5 suffioent and appxopriate to Pfovide a basi% for ouropinion. Concluslons relatln8 togolng ¢oncern In auditin8 the financial statemenrs. we h3ve Cldded thai trustees, tsse of the golng concern basls of accountlng in the preparation of the financial statements is appropriate. Based on the work we have perfom)ed, we have not identified any material uncertainties relating to events or conditions that, indNidually or collectively, may cast significant doubt on the tharitable group's ability to continue a5 a 80ing concern for a period of at le35t twel¥e montlLS from when the finarKial staternents are authoiid for Issue. Our responsibilities and the ponsIbIli1[e5 of the trustees wtth respÉtt to going ¢oncem a descrfbed in the relevant sections of this report. Other infomiation The trustee5 are responsible for the other inf¢)rniation. The other rnf¢)rmatÉon compri5e5 the information ircluded in the An81 ReporL other than thefinancizl statements and our Report ofthe Independent AAll0 thereon. Our opinion on the financial ststements doe5 not co¥e¥ the other inforrn3tion and, except to the e¥tent otherwise explicitty stated in our reporL we do not express any forni of assuran conclusion thereon. In connection with our audit of the finantial Sternents. our responsibility is to read the other Inlorm3tlon and, In doing so, consider whether the other inforrnation is materially inconsistent wth the financial 5tatemÈnts or Dur knowledBe obtained in thE audit OT Otherwise appeats to be tnateriatly misstated. If we identify such material inconsistencies or apparent material misstatements. we are QuIred to deteThine whether thts gives rise to rnateriaj rnisstatement in the financial 5tstements thernsefve5. If. based on the work we have performed. we conclude that there Is a rnatertal mlsstst&nent of thls other informatknn. we are requlred to report that fatt. We have nothlng to report in this gard. Opinions on other matter5 pre5cthd Compans £t2O In our opinlon, based on ihe work undertaken in ihe tourse of the audll". the informath?n given In the Aeport of the Trustees for the finanrt31 year for which the financia5 ststements a prepaied is consistent wth the financial ststements- and the Report of theTrustees has been prepared in accordance with applKzble legal requirements. Page 7
Buxton Axts Fethal Lirnited Matters on whKh we are requlred to report ty exceptlon lfi the light of the knowledge and undeT5tanding of the charitable group and its environment obtained in the cour52 of the 3udtL we have not ident¥fied rnatetial mi55tatements Èn the Report ofthe TFUSt*. We have nothin8 to report in respeci of the fdlowing mattery where the Companies Act 2( requires to report to you if, in our opinion.. adequate accouTrll records have not bew kept Of tUrnS ad8]uate for our audit have not been recewed fiom branches notvisited by u5,. or the financlal siatements are not In ayeement the accountlng records and return. or certain d¢sclosures of trustees. remunefation srIed by law are not rnade; or we have not CeiVed all the snformation and explanations we requirefor ouraudit,. or the trustee5 wefe not entttled to take èdvantsge of the small companies exempln from the requirement to prepare a Strategic Report or irt preparing the Report ol the Trust. ResponslbllFtSes of trustees As explained more ful in the TnEStees' llesponsibile5 Statement the trustee5 (who are also the directors of the chaiitable company for the purpe$ of company 13wI are resporsIb for the PTeparaiion of the flnanctal statements ènd for being satisfied thar Ihty give a true and fair View. and for such internal £ontrol as the trustees derermlne Is necessary to enable the preratIOn offfinancial thtements that we from material misststemenL whether ¢Jue to fraud of error. In preparing the financial statements. Ihe trustees are respSIble for assesslng the charltsble cornp3ny'5 ablllty to continue as a 80in8 coTrcern. discltssiw as applicable, matters rdated to going concern and using Ihe 80in8 CDncern basis of accounting unless the trustees er(her intend to fdate the charitsble company or to cpase operations. or have llo rea1¥5ticalternotive but to do so. Page 8
i¥al li Our responslbllillesforthe audlt of the fin•ndal siattments Our objectives are to cbtain reasonable assurarsce about whether the f8nal thtements as 3 whole are free from material mi55t3tement. whether due to traud orerror. and to sue a Report ufthe Independent Auditors that includ our opinion. Reasonable assutsnce is a high level of assurance. bui Is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect 3 material rnisstatement when it exists. Misststements can arise fro fraud or error and are considered rnaterS31 if, indMdu3lly or in the a8gregate. they could aSOnabfy be expecled to Influen the econoffti£ dlSOn5 of users taken on the bas4s of these finanei31 statements. The extent to which our procedures a caPab0f detettMI8 IrregUlarie$, Indudw frad Is detailed below-. Our assessment of the su3ceptibilty to material mi55tatLwwl whether by fraud or error. is made in a risk based approath. In this approach. laws and reBulaikns applicable to the entrty. such a5 the Companies Att 2006. United Kingdom Generally AcceMed AccounliDg Practice incluthing Financial Reporting Staadard 102, (harities SORP. employrnent law. and Health and Safety law s considered. The polKies and eontroL5 the entity has in place to compty th these laws 3fe reTrewed. by discussion. ree$ of correspOndee and re@ttIOnS monitored by extemal bodles. The engagernent team rernained alert to any indications of frattd or non-compliance wlth law5 and reeulations throughout the audit. Po1icie5 and controls lat to the risk of material Misstatent as a $vIt ol traud, management override of controls, aftd revefiue recognitions are also considered. These are a5swed by obtsining an Ljnderstanding ol the charity's operations and control envirOnmt. The policie5 and contro15 have been reviewed by discussion. review and sample te5tyng of accounting entrie5. Tncluding jOUrn31s. ch311enging assumptnS and judgements, reviewng and evaluatln8 related pae$ transactions. and WKler ba(&8round searches. Testing of income recognition, 80ing concwn and fund accounting is also completed. We have ensured ihat the engagemerti team have appropriate le¥els of competence anil experience to effectivelv rnonttor these risks and cary out wofk rdevant to our assessment of each risk. indudin8 con5iderntion of the sector the charity operates in and ils 51Leand c(xnplexity- A lurther desttipuon of our feswns1bl1rti for the audit of the financlal staments is located on the Financi31 Reportin8 Council's website at ww.ftc.or8.ukloudltorsresponsibtlities. This description form5 part of our Report of the Independer¢t Auditors. Useofour repwt This report i% made Sole to the Charitab grP.5 members. as a btrdy. in accordance wth Chapter 3 of Part 16 of the Cornp3f¢lP5 Act ?(. Ovr audit work has been underfaken so that we rnight state to the charitable group's members those matters a quIred to state lo than in an auditors, port and for no other purpose. To the fullest extent perTnitted by law. we do not accept or assume resp01"111Y to ènyone other than the charitsble group the charif3ble group's members as a body, for our audit work. for this fepDrL or for the opinK)ns we h6ve formed. Jame5 Salim FCCA15enior Statutory Audiiorl for and on behalf of SMH Group Audit Statutory Auditors 5 Westbiook Court Sharrow Vale Road Sheffteld South Yorkshl Sll 8YZ Date.. Page9
fval thitted atrd Sts of Thantial for Year Ended 31 Odobtr 2025 2025 Totsl funds 2024 Total funds Unrestricted lunds R6tricted funds INCOME AND ENWWMErirs FROM Donations and legacies fi1022 243320 854.142 792,4CA) Chariiable artivtties Public sector grants 139.176 139.176 149,208 Other tsadifte attivities Inv¥trnent income 956.323 11.509 97723 IL509 1.149,446 9,210 Totsl 254 Ln730 20 1.982650 2.IC4).324 (PÉNDITURE ON Charfrtable activrtles Festival costs i.W.640 273256 169A 1,762,472 (Xher 154A91 IS991 131.827 Totsl 1,751.531 278256 29.787 1.894.299 NEf INCOMEIIEXPENDITUREI Transfers between funds {33.7011 io 113N361 io 147.1371 206.025 Net mv•$m¢nt In funds 123RII 147.1371 206,025 RECONCILiATtON OF FUNDS Totsl funds brought forward 958205 117M9 I7534 869,809 TOTAL FUNDS CARWED FORWARD 934574 94JZ3 I28.597 1.075.834 The notes fL¥m part ofthe5e statements Page 10
Buxlon Arts FtSll*dl Lkn Idated stateTrt of Fkna 31 ber 2025 2025 Total fvnd5 2024 Total funds Unrestricted lunds Restricted funds FIXED ASSETS Tangible 355ets 13 Is70¢ I57Q4 159,711 157W4 157W4 159,711 CURRENT ASSETS Debtors Cash 3t bank and in hand 664,459 213,524 664A59 307.647 589.072 402.519 94.123 94.123 971106 991.591 CREDITORS Amounts falling due within oneyear 16 11012131 (lo13) 173.8031 NETCURRENT ASSETS 970A93 917.788 TOTALASSEf5 LÉSS CURRENT UAwunES 934.574 IJI2897 1.077.499 CREDITOR5 Amounts lalliltg due after more than year 17 11,6651 NET ASSETS 94.123 I28.697 1,075,834 FUNDS Unrestricted funds Restricted funds 934,574 94.123 958.2DS 117.629 TOTAL FUNDS 11128.697 1,075.834 These ftnanclal ststements ha¥e been prepared In accordartte vlth the FYovi5ions applicable to Charitable companks 5ubjert to the Small tompanles regime. The finanoal ststements were approved by the Board of Trustees and authorised for issue on AAI.k219A.IS . and were signed on its behall bv= FMSGoodeyCBEDL-T ust The notes fm part of these finanual statements Page 11
Burton ststement of Ana JI Ortober 2025 2025 Totsl fwids 2024 Total lunds UnrestrÈcted funds R&ricted funds Notes FIXED ASSETS Tangible a55ets Investments 13 14 157W4 157JLS1 159.711 157WS IS75 159.712 aJRRENT ASSEfs Debtors Cash 3t bank and in haNI 6.332 212.841 6LTr)J32 306.964 582,939 401.578 94.128 3.173 94.123 )7296 984.517 CREDITOAS Amounts fallin8 duewlthin oneyear 16 136.7101 167,0361 NCURRENT ASSErs 776A63 94.123 870.586 917.481 TOTALASSETS LESSCURRENT LIABILMES 934268 94,123 Im8391 1,077.193 CREDITORS Amou7ts falllng due after morethan one year 17 11.6S51 NET ASSETS 93426B lJ)28J91 1.075.528 FUNDS Unrestncted funds Restritted fund5 93426B 94.IZ3 957,899 117,629 TOTAL FUNDS 1x128,391 1,075,528 As pemitted ty s408 Companies Act 2c, the charity ha5 not presented its own profft and loss accounl and lated notes. The chaFiV5 deficit forthe period was £47.137. These financial 5tatemwtts have been prepared in accordance wth th kyovlslons aPpIable to charitable cornpanie5 subject EO the small ¢ompanie5 reBime. ncial ststernents were ap[Ved by the Boaryl of TriteeS and authorised for issue on XS.... and weresW on its behalf by.. FM 5GoodeyCBEDL-T stee The note5 fLYm part ofthe5efinan(ial slatemeDts Page 12
idated Stataiient of Cas for the Year Eryled ¢)ber 2025 2024 Cashfltys from Opern actl¥lU Cash generated from operations Interest paid 186,0351 125,6481 et cash useil in operatu7g actTrvities 86.6351 125.6481 C35hfl¢ws from Inbestin8 attpiitie5 Purchase of tangible fixed assets Interest Weived {23341 liJ)9 9,210 Net cash provided investing activtties 9,175 9.210 Cash flows from flnandng actmtles Loan repayments year 17A121 117,4121 Net cash used in finanartrg actiTritles 17A121 17,4121 Change In rash and ¢•5h equkwalert5 iDth• reportin8 period Cash and cash e4ufvalents at the beginn ofthe reportlng perlod 194m21 133.8501 402.519 436,369 Cash and cash equfvolents atthe end ol the reporting perlod 402,519 The notes fLYm part of these finanaal ststenients Page 13
Notes to the Ststwnent ofcash Flows for the Year Ended 31 October 2025 RECONCILIAnON OF NET IEXPENDffUREIIINCOME TO NET CASH FLOW FROM OPERATING AcfMnES 2025 2024 N•t {•xp•ndiiure)lkn¢offle forth• r•rwilry pwlod las pertl 5tstement of NnandalArti¥ities) Adjustments for. Depreciation charge5 Interest received Interest paid Inewse in debtors Increaselldecrea5el in CredOr5 147.137) 206,025 4241 4,917 19,2101 175,3871 43,157 1182.7541 144,6261 Net cash used In opwatlons 186,0351 125,6481 ANALY5 OF CHANGES IN NET FUND5 At 1111124 Cash fl¢ At 31110125 Net cash Cash at bankand in hand 402 194/721 3077 1KQl9 1940721 307fi47 Debt Oebts falllngdue wlthln I year Detsts fallin8due after l year 117N121 1,6651 15.747 1,665 11,6651 19.0771 17A12 li65) Tot 177,4601 305J82 The note5 f(¥m partof the5efinan(ial ststemeTrts PagÈ 14
o the Flnanrlal Statem the Year Ended 311)rtober ZOZS ACCOUNTIN6 POUOES Basis of preParIthe finartlal statem The financlal staternents of thè group, which is a public benefit entity uTrJer FRS IOZ. have been prepared in accordhnce with the Chartties SORP IFRS 1021 'Accountia8 and Reporting by Charities.. Statement of Recommended Practtce 3pplicable to charitbe5 preparing their accounts in accordance with the Financial Reporting Standard 3pplicable in the UK and Republic of Ireland IF 1021 leffectnTe l Janu3ry 20191., Finanaal Reporting stsndard 102 Yhe Finanoal Reportlng 51andard applitable in the UK and Republic of Iland, and the Companies Act 2(X)6. The finantial statements have been prep3reil under the historical cost ¢onventson. Going con¢em At the time of appro*7 the finanoal statements. the Tnjstees have a reasonable have a wsonable expect3ti0n that the 8roup has adequate resourtes to contiftue in operauonal existence for the foreseeable future. Thus the Trustees continue to adopt the 8oiNd conwn basis of accounting in weparing the financial statements. (harltable fvnds Vnrestricted funds are available for ust at the dtscretlon of the Tntstees in furtherance of theÉr charitable objectives. Restricred fynds are 5ubjett to specific conditions by donors as to lW they may be used. The purpos& and se5 of the restrieted funds are set out in the notes to the finantlal staternents. Endowment funds ale subject to speaffic condTrtions by don5 that the capital must be maintained by the charity. In¢ome Income is re£o8nised when the group is le8alty eThtied to it after any perfortnance condrtioit5 have been meL the amounts can be measured feliabty. and tt i% probable that income will be recve. Cash donations are reco8nised on reeeipl Other donations are fecognised once the charity has been notlfied of the donation. unless perfoTm3nce condstions require detsral of the atn¢)unt. Iorne tax recoverable in relation to donations receNed under GTft Aid or deeds of covenant is recognised atthe time of the donatK•n. LegacSes are recognised on receipt or otherwise if the charbty has been notified of an lrnpend1 distrlbuuon. Ihe amount is known, and receipt is e¥pe¢ted. If the amtsurtt is ntx known. the legacy is treated as a contingent asset. EXpen1ure Liabilities a re¢ognised as expendtture as soon as there Is a legal or eonstrtsctfve Obligati commltting the charity to that expendttUTe. It is probable that a transfef of economic beftefits wll be required in Settlement and the amount of the obligation can lje measured relsabty. Expenditure is aciounted for on an accruals ba515 and has been dassified under headings that aggregate all c05t rdatets to the category. Where costs cannot be dirértty attributed to partlcular h1 they ha¥e been allocated to atllvltles on a bas consistent with the use of resources. Tangible fixed assets Depreciarion is provlded at the following annual rates in wler to write off eh Set over its estymated useful Long leasehold Cornputer equipment in accordance wrth property 20% on mst Taxatlon The chartty exempt from torporation tax on its Charitae3clI¥#Ie$. Page IS ¢ontlnued...
Notes to the knancial State the Year Ended 31 ctober 2025 ACCOUNTrNG pouaE5. CtinUed Mg4 asset h)vestrnents Fixed asset investments are Iniiially measured at transart1 price exduding tranctiOn costs and are subsequently rnea5ud at fair ¥rdlue at each reporting date. Changes in fa4rvalue a recogni5ed net iThcome/leXpendituj for the year. Trarsaction costs are experL%ed as incurred. A subsidiary Is an en#ty Control by the tharity. Control the p¢>wer th gobwn the flnancial and operatin8 policies of the entity so a5 to obtaFn benefft5 fvom rts aaMtie5. Fund accountinz unFestred fund5 can be used in accordance with the tharitable obje¢tlves atthe dlscretioTr of the trustee5. RestTlCted funds can onty be used for partKulai restrkted Purpos the objects of the charity. Rèstrictions arsse when spectfied by the donor orwhen ftEAds are Tased for particular $tricted purpose5. Further explanation of the nature and of fvnd Is Incbjded tn the rtjtes to the flnanci31 Statements. Pension costs and othw port-retwement ber The charitable cornpany operates a defined Contribution penslon Scheme. contributio1 payable to the charitable companws pension scbeme are charged to the Statanent of Financial Activtties IA the period to whi¢h they relate. Flnanci31 instrumerts Basic financi31 assets, whith indude debtors and cash and bank balarKe5. are Initi311y rneasured at transactlon prlce Including transaction costs and are sutwuentty rarrsed at amorbsed cost Using the effectwe interest method unless the arr8n8ement constittytes a financin8 trans3Ction. where the transartion is measured at ihe present value of the fvture receipts discounted at a rllèrkei rate of inte$t. Firwncial assets classified as receivable within one year are not amorrisEd. Baslc flnancial liblitles Basic fiDancial li8biliti&. includFng creditors. bank103ns. loan5 from fellow group cornpanI and preference Shares ihat are classified as debt, are initially recOgne at trdnsattlon price unless the arrangement constitutes a financing transaction, vjhere the debt Instrumeftt is measured at the present value of the future payments discounted at 3 market rate of interest Finanimal liabifthe5 dasslfied a5 poyabbe within one year are ot )mortis•d. Debl instruments are subsequentty carried at amorbsed cost USifE ihe effective Interest rate method. Trade Creditors are Obligat$ to pay for goods or 5erviies that have been acquired in the ordinary course of busine55 from SupleT5. Amounts payable are cla55ffied as current liabilities rf wment 15 due within one year or less. If not. they are presented as nOnUenl liabilities. Trade creilitors are recognised inltially at transattion pri and subsequentty measured at amortised cost using the effecti¥E interest method. D¢recognltKtin of ftnancial liabilities Fin3ncial liabilitie5 are derectwised when the charitable conwanvs contrartual oblgat)n5 expire or are diseharged or cancdled. Employw beneffts The cosl of any unused holiday entideMlts is retognised immedlately as an expense in the perlod in which the employee's Servi are red. Tem)ination benefits are recoRnised immedFatety as an expense when the group is demonsttsbly committed to ierminate the empknyment ofan employee orto prowdètemiination benefits. Pdge 16 contlnued...
CRMCALACCOUNTING JUlEmE1{rs AND KEY50UItCES OF E5nMAnON UNCERTAINTY In the appliotion ol the group's account1r polKies. the Tnstees are reqUId to make judgements, est1rn3tes nd a5sumpiiorts abo the carrying amount of assets and liabili that are not adIlY apparent from other sources. The estimates and associated a5sumpiions are based on historiol experience and other fartor5 that are considered to be relevant. Actual Tesutts may differ frorn these estimates. The estimates and undertying assumptions are reeWed on an ongoing basis. Revlslons to accounting estimates are recognised in the period in which the estimate is rewsed where the revision affects only that period, or in the period of the revts6on and fvture period5 vknere the re4ision affecrs both currer5t and fvture perQd$. There are no Critical accountin8 estimates or IudgQnts. Page 17 continued...
Noths to the Fln ncial Ststements- wntln t Year Ended 31 Octol>er 2025 D014AnONS AND LEGAaES 2025 2024 Don3(5 Grft aid Legacies Theatretèx tredit 48559Z 28,596 449.338 8,875 11,250 322,997 339,954 854,142 792,460 OTHER TRAtHNG A1vmE5 2025 2024 Festival incorne Sponsotshlps 955m3 22.750 1,075,016 74,430 977,823 1,149.446 INVEsfMENT INCOME 2025 2024 Oeposlt account interest 11,509 9.210 INCOME FROM CHARFTABLE p£rivmES 2025 2024 Grants Publt sedor grants 139.176 149,208 GTants rewved. induded in the abov¢ are as follows.. 2025 2024 Arts Coiiftcil Fxchpquer Derbyshire County Counul 124.176 15,ts 134.208 1S,(M)O 139,176 149.208 Page 18 contlnued...
l iwnited Note5 to the Rnan¢lal ments. rnntinued for the Year Ended 31 October 2025 CHASIITABLE AcrivtTIESCOSTS Support tOSts (see note 81 Direct Costs Toials Festival costs IW.713 In96 SUPPORT COSTS Governance Man*ement Finance Totals Other resources expended Festival costs 155J48 4J43 159A91 7.183 6.583 5.143 6.583 167.074 Ngf INCOMEIIEXPENDITUREI Net incomelle¥penditurel 15 Stated after(hargin(credltlngI'. 2025 2Q24 Audttors. iemuneration Depreciation- owned a55ets 6,583 4.241 6,560 4,917 io. TRUSTEES. REMUNÉAATION AND 8ENEFIT5 There were no trustees. remvneration or other trefftS for the year ended 31 Ottober 2025 nor for the year ended 31 Ortober 2024. Trustees. ewpen5•S There were no tru5tees' exPereS paKI the year ended 31 Ortober2025 nor for the year ended 31 October 2024. ii. STAFF C05T5 2025 2024 Wages and salafies 5oaal security costs Other pension costs 324,521 15,564 16NIO 334,310 21.659 5.254 356.495 361,223 The average rnonthly number of ernployees durin8theyear was as folfows". 2025 2024 Full-llrne Equlvalent- Admln Page 19 continued...
Trala$ Statemtnts- ¢ontin forthe Year Ended 31 Octcljer 202 ii. STAFF COSTS. tontlnued The number of empl(byee5 whose employee benefits le*dudln8 employer pension ¢ostsl exceeded £60.( was.. 2025 2024 £70.001- £80,(KK> £80.001- £9).LK COMPARATIVES FOR THE STATEMENTOFRNANIJALACTNMES Unresrrlrted funds l¢e5tricted fvnds Total funds 114COME AND ENWWMEPITS FROM Donètions and legacies 531,227 26L233 792,460 Charltable art1¢$ Public sectorgrdnts 149,208 149.208 Other trading acilvitles Investment income 1.076.446 9.210 73.cw 1.149,446 9.210 Total 1,766.(ffJl 334233 2.ICM],324 EXPENLNTLIRE ON Charrtable arti¥itles Fesitval costs 1.467J53 295.1 1.762.472 Other 131,827 131.827 Total 1.599,180 295.1 L894.299 NET INCOME 166.911 39.114 206.025 RECONQLLATION OF FUNDS Totsl funds brou8htforward 791,294 78.515 869.809 TOTAL FUNDS CARRIED FORWARD 958,205 117.629 1,075,834 Page 20 contlnued...
for the Year Ended 31 Ortober 2025 TANGIBLE FIXEDASSETS Lon8 sehold Computer equipment Totals COST At l No¥ember 2024 Additions 196836 32,155 2334 228.591 2.334 At 31 oaober 2025 6N36 34N9 230.925 DEPREaAnON At l Novemtser 2024 Charge for year 46A36 22A44 4241 68.880 4241 At 311ktober 2025 26.685 73.121 BOOK VALUE At 31 October 2025 157x14 At 31 October 2024 150,0 9.711 159.711 In December 2014. the diiector5 iwtstru(*d profeSsnal Yaluers. Wreht Marshall tirnited, to value the leaseholé property- The properry was valued at £1S0.1Xl on èn open market basis and the carrying value of the leasehold property was adjusted accordiryly in the accounts for the year ended 31 October 2014. The directors believe that there has been no material change ID the value sirKe that date and in consequence no (harge for impaimient ha5 been made. 14. FIXED ASSET INVE5TMEP4TS 2025 2024 uxton Festival Produebons Llmtted The followtng was a subsidS3ry undwtsknn8 of the diarstable companv: Comp•rry thss of shar4$ nwnber Hdthlg Buxion Festival Producik)n5 limited 095C•J088 Ordinary I(% 15. DEBTORS: UNT5 FALLING DUE W1N ONE YEAR oup 2024 Charlty 2025 Charity 2024 2025 Trade debtor5 Other taxation a47d sock715ecuTity Amounts owed bygroup underraknngs Other debtors Prepayments and accrued rn¢ome 34284 212.109 76.328 142.232 34,OZ8 212.109 335.657 76,072 142.232 350,912 339.954 78.112 321996 47,516 18.538 13,723 664N59 589.072 &XlJ32 582.939 Page 21 continued.-.
ncial Statements. continued for the Year Ended 31 October 2025 16. CREDITORS: AMOUNTS FALUNG IXIE WITHIN ONE YEAR oup 2025 Group 2024 tharlty 2025 Charity 2024 Other loans (see note 171 Trade credttors Socol securlty and other taxes other cred¢tOfS Accruals and deferred income 1,665 753 17.412 17,208 4.935 2.160 32.088 I65 I32 5.508 1,554 14.131 17,412 13,454 4,922 1160 29,088 1,554 17.130 101213 73,803 36,no 67.Q36 17. CREDITORS: AMOUNTS FALLING DUE AFfER MORE THAN ONE YEAR 2025 2024 Other loan5 Isee no* 171 1,665 LOANS An anatysis of the maturlty of lo3 is gNen bekjw. 2025 2024 Amounts falling due wtthin one year on demand= Other103ns 1,665 17,412 Amounts fallin8 between one and two years= Other loan5 - 1-2 year5 1,665 The amount In loans 15 secured by a ch•rge over the companvs leasehold property. Pa8e 22 contlnued...
3On Arts l limited Nolesto the finandal State ed 31 Odober 2025 19. MOVEME1 IN FUND5 Net rnovement in fvnds Trat)sters between funds At 3VIO125 At I/IV24 Unre5trirted fvtKIs General frJnd Subsidiary Company 95799 133,7011 70 934,268 958205 133.7011 MJ.070 934.574 Restritted funds Oratorio Young Artjsts Program Youn8 In51rument31i5ts Prwam FOUT 20 Supet mdaY Oper2 IA26 44,587 14,Goo 57,093 145061 ii,coo ,iio I.070} 14,110 20,CQO I1729 113A361 IW.0701 94,123 TOTAL FUNDS U175A34 147.1371 1.028.697 Nel movement in tunds. induded in the above are as follows: Incoming re50urtss Resourc expended Movement in funds UnrestrKted funds General fund ln730 I1.75131) 133,7011 Restrlrted Young Art15ts Program Core Costs Four 20 Book Festlwal Developmenl Outreach Orchestra 115J061 1216.9281 1270871 {Iwi 15WOI 18351 1111Kl 112,5061 216.928 26.557 19301 li,0 264mO 1278,2561 113,4361 TOTAL FUNDS 1.98L650 I29.787> 147,1371 Page 23 continued...
Notesto fvrtr*Y Eryled 310(iober 2025 19. MOVEMENT IN FU14DS- tt11ed Nei movement in fUtS At 311ID124 At Vll123 Unrnstrlcted funds General funé Subsidiary Company Reser 79).988 166,911 957,899 306 791.294 166,911 958.205 Oratorio Youllg Artists Program Young ItrUMentalL8ts Program Platform 3 Core Costs Four 20 Carmen Webslte Super Monday Opera 1,426 38,327 14,(KK) 5,262 1,426 57.093 14,(M)O 18,766 15.2621 17,5001 ii,uJo I2.() 15,CO)I 14,110 20.IJJO 14.110 20.(0 78,515 39,114 117,629 TOTAL FUNDS 869.809 206,025 1,075.834 Page 24 ¢otttynued...
Notes to th kn Tral Sl3ten*nts. continu for Ye r Ended 31 Ociober 2025 19. MOVEMENT IN FUNDS- ttrtlnued Comparative net ement in lunds, Included in the above a as follows". Incoming sources Resource5 expended Movement in furbds Unfestrkted fvnds General fund 1.766.Q91 11,599.1801 166.911 Restricted funts fvlusic Serles Youn8 Artlsts Program Platfofm 3 Core Costs Four 20 Carrnen Website Super Monday Opera Heritage Action Zone Developrnent Retirernent Gift Awards in Munich Accornmodation Boatswain's Mate 11,cooi 121.2341 18,2621 1180.1731 18,766 15,2621 17.5001 6,000 12.0001 15.0001 14,110 20,000 172.673 12.Cth)I IS.() 115.8901 30,(KK) 20.( so,(xx) 150.Cth)I 12,IWI 2.300 180 12.3(X)I 11801 I6.4(1) 334.233 295,1191 39.114 TOTAL FUNOS 2.1(,324 11.894.2991 206.025 Pdge 25 contlnued...
ancial Staternents- tsjntin the Year Ended 31 Ortober Z025 19. m0ME1 IN FUNDS- r(rtlnued A current year 12 months and prioryw 12 mntrs combined p05rtion 15 as fdkjws: Net movement in lund5 T¥aD5fews betsveen funds At 31110125 At yii123 Unrestdcted fvnds Gener31 fund Subsidtary Company Reserves 7SKI,988 133,210 10.070 934,268 306 79L294 133.210 10,070 934.574 Restrirted funds Ofatorio YoungArtists Program Young Instrumentslists ProBfdm Platlorm 3 Core Costs Four 20 Carrnen Web51te Super Mgnday Opera 1.426 38.327 14.0(M) 5.262 1,426 44,587 14.C 6.2EII 15.2621 17.5001 5.070 IIC4JOI 15,C¥)01 14.110 20.CKXI I,070) 14.110 20.OQMJ 78.515 25.678 110.0701 94,123 TOTALFUND5 869.809 158.888 1,028.697 Page 26 continued...
tothe FanCIal St3teineiits.conth)ued for Year Ended 31 Ortober 2025 19. MOvEMEr IN FUNDS- continued A Current year 12 months and prior year 12 nK)nths comblwl net mownent In hjrth. included ift the abrr4e ère as follows: Incomi resourtes Resource5 expended Movement in funds Unre5trKted funds General fund 3,483.921 13.350,7111 133,210 Restrlrted funds Mus&c series Young Artists Program Platform 3 Core Costs Four 20 Camen Website SL4per Monday Book Festival Opera Herita8e Acbon Zone Development Retirerfient Gift Awards in Mynich Accornmodatlon 8oatswain's Mate Outreath Orchestra i.oc 43.oc 136,740 18,2621 1397,101 127,4871 I2,0 15,IK)01 I.890) 11.5001 6.260 15,2621 17,5001 5,070 12,(K)01 15,tM)01 14.110 389.601 32.557 20.0 20.000 150,IX)01 17.LK)01 16801 12,300 11801 16.4001 18351 Iii,coo 6,4(N) 835 ii,o(K) 5%,053 573.3751 25.678 TOTAL FUNDS 4.082.974 3.924,0861 158.888 fte>trlcted fvnd> Donati$, Grants and Sponsotship fvftds were received to help fvnd the cost of the 0k Serie5 during BIF 202S. The costs wwe made up ol author fees. DonatiMs. Grants and s50r5h[p fvnds were received to help fvnd the cost of the Four20 (Shorts) project during BIF 2025. The costs were made up of (ast, chonjs and ¢)rthestra f&s. Donations. Grants and 5prmsorshlp funds We recefved to help fund the c05t of the YIPS I YAPS programme during BIF 2025. The costs were rn3de of artist fees. travel and accommodation. Donètions, Grants and SFwrship funds were recewj to help lund the cost of Outreach projects during BIF 2025. The costs were made up of admin. choir and venuefee5. Donations. Grants and Sponsorthw fvnds were recei¥ to hdp fvThJ the cost of Development projects during BIF 2025. The costs were made up of >S1Vfee Donations, Grants and Sponsorship fvnds were recthfed to help fund Core costs durlry BIF 2025. The costs were made up ofpr0dutt1. tschnical crew equismment fees. Pa8È27 contlnued...
19. mOVENT IN FUNDS- conttnutd Restrlcted funds- corrt5nued Donations. Gr3nts and Sponsorship funds were received to help fund the cost of the BKton Internatlonèl Festival Orthestra duriTr8 8IF 2025. The costs were made up of musi(ian fees. 20. RELATED PARTY EMSCLOSURES The charity Was owed £335,657 12024.. £350.9121 from Buxton Festi¥al Productions Lirn¥ted. a Subsidiary undertakiw at the end of the period. In the period, the charity paid the 5u&idiary £1,651.907 12024.. £1,447.5361 commsn for the produrtion exper6es. The charity a150 receNed £339,95412024.. £322.9971 in donatlons from thestsbsldlary. The charity is 35sociate(I wtth Friend5 of Burton Intemational Festtval (registered charity number 5139701, which wa5 founded in 1980 to provkk support for the Buxton International FtI1 through subscription5, donations and fundra1n8 events as well as practtcal as5i5tance. Coniributions received from the Friend5 of Buxton Internatlonal Festival durln8the year amcwjnted to E225.C(Q12024.. )j1. The chaiity is a$5¢xiated with Buxton Festival Foundatron Iregtstered tharity number 109G2691, whKh established on 17 June 2(X)2 wtth the object ol advèncing aluc2rion of the public in Arts by establshing and administering an endowment sufficient ro matntsin and Jmprove the 3mensbes of 8xn FliV31 and support its work by the provlslon of financial SUPPDrt. The tharity donated £12.C(i)12024.. £50.COJl to the foundation during the year. The chaiity received dTh)ations 01 £27siXI120240cOI from Richard Eastwo who is also a trustee of the charity. Page 28 continued...
tothe FinznclalStatemeiits- COnn for the Year Ended 31 Ortober 2025 21. SUBSItMARIES These finan¢lal statements are Separate ftnancial statements for theyear ended 31 October 2025. Details of the companls subsidiarE5 at 31 October 2025 a as fdlows.. Nature ol buslness aas5 of share5 held Name of undertaklng Y6 Held £nand and Wales PrL¥luthon Maeement Buxton Festival Produrtios Llmlted Direct i.00 Name of undertakh PrrflLossl CaFXtal and reserves Buxton Festival Pr¢>JucDorts Llmited 307 Buxton Fesbval Product*ons Mited j8FPLI wa5 ificorporated on 19 Marth 2016 and is a wholly owned subsidiary ol Buxton Arts Festival bmited IBAFLI. BAFL cornrni55iNs PFPL to produce OFerès which form part of the annual Buxton Arts Festival. 8FPL is digible to Ilaim under the Theatre Tax Rdief ITfRI Scherne and 311 èmwnts it receNes frDm the government under this scheme will be donatert to BAFL Page 29
rnentof Flnanclal Art" r Ended 31 October 2025 forthey 2025 2024 INCOME A14D ENDOWMEIITS Donatlons and 1•8•¢ies Donations Gift alit Le8acSes Theatre tax uedit 449,338 8.875 11,250 322.997 28596 339.954 792.460 Othertradlng a£thrftles FestlV31 income Spon5or5hips 955A173 21750 1,075,016 74,430 9nwJ 1,149.446 Investment income Deposit account interest IL509 9,210 Charltable attlvitles Grants 139.176 149,208 Totzl inmmin¥resouY 1.982.650 2.IIXJ.324 EXPENDITURE Charltable activitie5 W3ges Sooal security Pensions Rate$ and vtster Insurance Telephone Posta80 statiOn•ry Exceptional items S2421 15.564 16,410 3,926 4.729 1.777 3.371 IA92A14 334,310 21,659 5,254 2,642 4,916 599 6.539 1,368,446 IA62.713 1.744,365 Support cost$ Management Advert15tng 5undries Statt travellin8 Recruitment expenses Legal and professional fees Computer costs C3rrled forward Its1235 14JlO 15,934 1.4ZZ 5,182 924 151,107 93.267 20,746 10.612 685 1.890 8,620 135.820 This pa8e does not form part of ihe statutoryfiftanctal statements Pa8e 30
ment of Financial Arti*$ for the Year Ended 31 October 2025 2025 2024 Mana8ement roueht forward Computerequipment 15L107 4.241 135,820 4,917 140,737 Nftae Bank Chae$ Loan 4543 6LXI 2,637 5.143 2,637 Auditor5, rernuneration 6.583 6.560 Total resources expended 2P29.787 1.894,299 Net lexpgnditureifmcome 147.1371 206,025 Thb5 Pa8edoes not form part of the siatutory financial 5taterneryts Page 31