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2021-03-31-accounts

BURY METROPOLITAN ARTS ASSOCIATION

(a company limited by guarantee)

t/a THE MET

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR

THE YEAR ENDED MARCH 31 2021

Company number 2370868 Charity number 701879

BURY METROPOLITAN ARTS ASSOCIATION ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31 2021

INDEX
Chair’s foreword 1
Administrative information 2
Trustees’ and Directors’ annual report 3 – 9
Auditors’ report 10 – 12
Statement of financial activities 13
Balance sheet 14
Statement of cash flows 15
Notes to the financial statements 16 – 27

BURY METROPOLITAN ARTS ASSOCIATION CHAIR’S FOREWORD TO THE ANNUAL REPORT FOR THE YEAR ENDED MARCH 31 2021

It is my absolute pleasure to write this foreword to the annual report and financial statements for Bury Metropolitan Arts Association, which we know as The Met, for the year ended 31 March 2021.

Following on from my report from last year where I reported a year of mixed fortunes, the global pandemic has proved challenging as well as developmental for The Met, its amazing team and anyone who accesses it, in whatever shape or form.

Financially, The Met has been incredibly lucky to receive the funding it has and recognises how fortunate this has been at a time when other arts and culture organisations up and down the country have not been so fortunate. The team have coped incredibly well through remote working and taking leave through the government-backed furlough scheme to continue to be passionate about and deliver everything they have been able to. For a relatively small team, in which there have been changes too, the cohesive nature of working is integral to their success and I commend every single person for their devotion and loyalty to their role, The Met and each other. The team has continued to work incredibly hard to continue to extend The Met’s reach artistically, creatively, and geographically across Bury.

The Met continues to benefit from the support from Bury Council and Arts Council England. Core funding was also received from GMCA for the first time this year, the first of two. Alongside various other corporate and private funders, all this support remains invaluable at what continue to be unusual times.

As a board, we continue to recognise the importance of diversity, resilience in our board together with inclusion of a broad range of skill sets relevant to The Met and we seek to explore options and opportunities. Our board continues to evolve, and we have welcomed Jane Black, Jonathan Staples, Frances Healey, and Pamela Johnson since the previous year end. In addition, we have welcomed Phoebe McCoy and Owen Knott as visitors to board meetings, who were formally appointed to the board in September 2021. I would also like to recognise the support from Ian Mayer and Councillor Tom Besford, both who resigned during 2021; their insight and contribution was superb.

I commend the annual report and financial statements to you for the year ended 31 March 2021, and in doing so, I wish to thank my fellow trustees and directors wholeheartedly for their work and support this year. I look forward to 2022 with optimism as The Met moves more financially secure into a new year.

Helen Clayton Chair

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BURY METROPOLITAN ARTS ASSOCIATION ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED MARCH 31 2021

DIRECTORS & TRUSTEES
DIRECTORS & TRUSTEES H Clayton Chair
K Dyson Vice Chair (resigned 23/09/20)
J Staples Appointed Treasurer 28/04/2020
Cllr T Besford Resigned 12/05/2021
Cllr J Black Appointed 1/04/2020
F Healey Appointed 28/04/2020
P A Johnson Appointed 2/12/2020
O G Knott Appointed 22/09/2021
T Marno
I Mayer Resigned 27/04/2021
P L McCoy Appointed 22/09/2021
L Robinson
V Robinson
KEY STAFF V Robinson Chief Executive Officer
D Agnew Artistic Director (freelance)
S Binder Finance Manager (freelance)
A Comstive Marketing Manager (resigned March 2021)
C McClung Technical Manager
P Bulleyment Recording Studio Manager
N Berry Events Manager
S Meskell-Brocken Education Manager
REGISTERED OFFICE AND The Met
PRINCIPAL PLACE OF BUSINESS Market Street
Bury
BL9 0BW
AUDITORS HGA Accountants & Financial Consultants
Ltd t/a Chittenden Horley
Chartered Accountants & Statutory Auditors
456 Chester Road
Old Trafford
Manchester M16 9HD
BANKERS The Royal Bank of Scotland PLC
40 The Rock
Bury
BL9 0NX

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BURY METROPOLITAN ARTS ASSOCIATION TRUSTEES’ AND DIRECTORS’ ANNUAL REPORT FOR THE YEAR ENDED MARCH 31 2021

The trustees present their annual report together with the financial statements of the charity for the year ended March 31 2021 which are also prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes.

The Bury Metropolitan Arts Association (BMAA) is referred to as The Met in these accounts.

REPORTING FRAMEWORK

The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019), referred to as the Charities SORP (FRS 102) (second edition – October 2019).

OBJECTIVES AND ACTIVITIES

Charitable objects

“The advancement of education by the furtherance of the performing and visual arts and by increasing the accessibility of the arts among the inhabitants of the Metropolitan Borough of Bury.”

This includes the promotion of the arts in its widest sense, both amateur and professional, embracing all art forms and media. The principal activity is the promotion of an events programme in Bury at the Derby Hall, known as The Met and the Vision, Mission and Values are set out below.

OUR VISION

We believe that The Met should be a nationally recognised cultural venue, accessible to all, combining international reach with local impact to contribute towards Bury’s aspiration to be a cultural leader in the region.

OUR MISSION

The Met exists to inspire excellence in music and creativity, it is about quality, openness, enthusiasm, and passion.

We enhance the quality of living and working in Bury and Greater Manchester by engaging our communities with brilliant live experiences and creative opportunities. We prioritise enhancing the wellbeing of our diverse communities and strive to strengthen their sense of social cohesion and local pride.

OUR VALUES

INCLUSIVITY: A ‘safe space’, with shared and consistent values, a culture of transparency and openness to adapt and make space for everyone to support the wellbeing of staff, artists, audiences, participants, and our local communities.

RELEVANCE: Using the 5 Cs of Context, Commitment, Communication, Competence and Culture to inform practice that keeps our communities at the heart of everything that we do.

AMBITION & QUALITY: We aim to inspire people, aiming for excellence in everything we do from presentation to the overall experience and engagement of audiences.

DYNAMISM: Innovative, collaborative, sustainable, quality approaches in all our work that is responsive to opportunity.

ENVIRONMENTAL RESPONSIBILITY: Conducting our business practices and events in a responsible way that respects the environment, reducing the environmental impact of The Met and associated partners.

ARTISTIC DEVELOPMENT & RESPECT: We want artists to discover and develop their talent, providing new experiences and opportunities to learn, network and perform. We nurture and develop staff, partners, artists, and collaborators.

Public benefit

In setting our objectives, carrying out our activities for the year and looking further ahead, the trustees have considered the Charity Commission’s guidance on public benefit, including guidance on public benefit and fee charging. The Charity relies on grants and income from fees and charges to cover its operating costs. In setting the level of fees, charges and concessions, the trustees give careful consideration to the accessibility of the arts for those on low incomes.

Contribution of volunteers

Volunteers continue to be an integral part of the organisation and crucial to our success. Volunteers primarily assist with the running of Head for the Hills festival. This year, despite there not being many events, we did manage to engage with 10 of our volunteers, with the wider group engaged through volunteer socials on zoom.

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BURY METROPOLITAN ARTS ASSOCIATION TRUSTEES’ AND DIRECTORS’ ANNUAL REPORT FOR THE YEAR ENDED MARCH 31 2021

ACHIEVEMENTS AND PERFORMANCE

The Met continues to receive benefit from public sources in recognition of the value it brings to the arts and the borough, with a fifth of our income from public funds. Bury Council, Arts Council England and in this year, GMCA invest in the organisation to allow us to continue the breadth of our activity.

In this financial year we were pleased to welcome support from National Lottery, to fund our workshops and clear our reserves deficit, helping us on the road to recovery and stability. Our Development Officer role continues to be funded by Garfield Weston Foundation and Foyle have funded part of our brand new Digital Officer role which continues to generate much needed digital content for the organisation, something that has been vital to connecting with our audiences over lockdown.

Oglesby Charitable Trust funding for the Outreach Manager came to an end in 2020 but given the progress we had made with this role we have received further and increased funding allowing us to continue this work until 2022. Outreach and education work continue to be a large part of our role in our community, and this role has established and developed links with education and funders brining increased income, expanding our work, and further helping to stabilise the organisation.

Continuing to build on our relationship with UnitedWeStream in this year, we produced Head for the Hills in Ramsbottom Cricket Club in December during a winter lockdown. Although a challenge for the team, collaborating on our annual festival with new partners developed our staff and tripled our audience figures from circa 10,000 to 35,000 over a single day. The relationship with UWS upskilled staff in house and subsequently led to additional digital work for the team. Events since March have seen The Met continue to work to engage local communities while also contributing as partner to the UnitedWeStream project, meaning the venue has digitally reached regional, national, and global audiences with work previously outside of the scope of our regular activities. Raising audiences to 45 million during the project. The challenge now is how to progress this learning into what we can achieve within our future work and ambitions.

Edwin Street Recording Studio continued to work throughout lockdown on our streaming programme and on live recording. The Studio produced The Slow Readers Club, 91 Days in Isolation, which was written remotely and recorded immediately after lockdown. The album, released in 2020, was a top 40 Charting Album. The studio also produced Demons of Ruby Mae Album, which is yet to be named or released. Other commercial work by the studio included recording artist Lucy Thomas who reached 25 million views on YouTube. It also recorded for Unity House, one of our in house creative businesses resident in the Creative Hub, for broadcast on Sky Arts.

Within the venue, the recording studio was able to work on the live streaming element of the programme, and was a key part of the streaming team, recording sessions for SoundOn, Mike McGoldrick and Liam Frost. The Met’s technical team collaborated with Edwin Street to enable us to produce the first hybrid audience and live streamed gigs and brought the community into people’s homes with pre-recorded stream for Bury Parish Church at Christmas. Collaborative working between technical teams also led to further staff learning and development.

We continue to work with Julie’s Bicycle to monitor and improve our environmental performance, and we are rolling out improvements in several areas, including efficient operation of the building through the Building Management System. We are also part of Bury Council’s decarbonisation scheme, helping us to decrease our carbon footprint further. Our business plan reflects these ambitions.

2021 continues to be a challenging year for The Met in achieving its ambitions. Having delivered the completely new project Burrs Live over the summer of 2021 gave us room to experiment with producing a new event with future potential. Partnerships with Sound On give us an entirely new and platform to stream unique digital content for emerging artists, engaging new and developing existing audiences. The newly formed role of Programme manager continues to develop relationships to increase the breadth of our work and bring in additional income for the organisation.

Programme & Artistic Policy

We navigated April and May 2020 with a focus on supporting artists, keeping our audiences engaged and supporting Greater Manchester Communities with a responsive and partnership-based programme of digital work.

Rearranging and responding to the impact on our planned programme continued to use most of our staff resource – with touring shows and activity being pushed further and further away with a focus on not cancelling events to continue to support an infrastructure of agents and artists reliant on a quickly diminishing live touring circuit.

We benefitted from our partnership with GMCA Culture team with an immediate and innovative United We Stream programme which maintained high profile for The Met and valuable learning for our production, programming, and marketing staff.

In April we delivered a digital heritage project commemorating the venue’s notorious Joy Division concert and the period when The Met became synonymous with Greater Manchester’s growing live music scene. Our digital programme developed to engage artists for online concerts including Slow Readers Club, The Lottery Winners and Mercury Machine (allowing the latter to take part in international showcasing event based in Japan). These ticketed streamed events saw the start of our own online programme alongside the continued community focussed activity with United We Stream.

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BURY METROPOLITAN ARTS ASSOCIATION TRUSTEES’ AND DIRECTORS’ ANNUAL REPORT FOR THE YEAR ENDED MARCH 31 2021

As restrictions eased, we took opportunities to bring audiences back to The Met. In August we hosted a live stream in partnership with Komedia where socially distanced members in The Met enjoyed watching streamed content as an audience for the first time since March. In October we took advantage of a small window of relaxed regulations to allow family audiences in for half term.

Virtual tours by international artists were included in our programme including Canadian band Le Vent du Nord. In December we produced “From Bury with Love” – a ticketed concert by Liam Frost recorded and mixed at and by The Met and Edwin Street Studio.

Throughout the evolving lockdown we planned and pivoted with projects we believed would have positive impact and public benefit. In December we broadcast live from The Met with content gathered in Ramsbottom that week to present a free to view 10 hour Head for the Hills Festival. In partnership with Bury Council and United We Stream the event reached 35,000 audiences globally. The event included live art installations impacting on local communities in Ramsbottom while providing high quality arts and music content globally.

With support from Bury Council we enabled amateur and voluntary organisations to reach their audiences online with Christmas performances. Our Christmas Community Streams across December included live Christmas concerts from Bury Parish Church, Youth Dance and Theatre School Performances in The Met and a pre-Christmas celebration in the spirit of coming through 2020 together in “Very Bury Christmas”. We also worked in partnership with Barnsley Civic Arts to provide free online access for families in Bury to a Christmas production.

Alongside our community engaging activity, we continued with our music programme including the likes of McGoldrick, Breabach and While & Matthews. Alongside hosting, supporting and producing online content we engaged with partners including Happy Festival to look at ways to pivot projects which resulted in the pilot of theatre production “Uke Club” and a wider online Happy resource of learning and participatory opportunities.

As lockdown was announced in late December we pivoted again to a digital programme with “Artists from Anywhere” as a regular hosted “in conversation” and concert with international artists weekly. We supported the development of a new online channel with Sound On and developed our own regular “emerging showcase” streamed from The Met monthly January to March.

We hosted digital theatre experiences which saw families engaged in immersive narrative led experiences both in their homes and in local parks through a time when social activity was difficult and restricted. Although challenging for online audiences at this time we had success with streams by Lip Service, Elephant Sessions, and the ongoing Artist from Anywhere & Emerging Showcases series.

We continued to be proactive partners within Greater Manchester networks – notably the GM LGBT Arts and Culture Group in commissioning and supporting artists to develop new work which was suitable for “hybrid (online and in person) Greater Manchester Prides planned for early in 2021/22. Throughout our planning, an inclusive approach was prioritised which served to ensure diversity within the programme was amplified.

Through the year our ability to support and embrace new thinking and challenges had huge impact on our existing audiences, local communities, and artists. The year demanded some immediate new learning but also for allowed time to consider our programme approach to supporting the objectives of the organisation and our partners.

Outreach and engagement

The advent of the pandemic proved a challenge for education and outreach with the removal of face-to-face delivery. However, thanks to funding pots made available and the commitment of our freelance team, we were able to enhance and grow our provision during this period, including achieving the aim of introducing a new group to the Youth Theatre portfolio in Spring 2021. In-house workshop groups worked hard on a variety of projects both online and on the return to face-to-face delivery which occurred at different stages for different groups including video projects, using social media in a creative way and an audio project.

A key development in our work with local communities has been the advent of the Creative Case for Diversity steering group in autumn 2020, which meets monthly and has successfully achieved funding for a Hate Crime awareness project as well as being part of the Ripples of Hope festival in Summer 2021. This group will be key in helping us continue to shape our equality and diversity going forward.

Our community partnerships have also developed through partnering with other local groups including Bury Council’s Looked After Children service, developing the successful ‘Noah and the Unknown’ project with Yan Tan Tethera; a variety of community groups who engaged with 2020’s Digital Diwali project in partnership with Walk the Plank and engagements with the local social prescribing service that have continued into 2021-22.

Our relationships with schools have continued to develop during this period, despite most contact remaining online during 2020-21. Our role in the Local Cultural Education Partnership (LCEP) has given us a direct line to several schools engaged in this group and we took a key role in developing a virtual careers event that ran in November 2020 and February 2021, showcasing the careers and opportunities in arts and culture with a focus on local organisations and venues.

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BURY METROPOLITAN ARTS ASSOCIATION TRUSTEES’ AND DIRECTORS’ ANNUAL REPORT FOR THE YEAR ENDED MARCH 31 2021

Governance and management

The Met continues to be managed by the Chief Executive Officer reporting into the Trustee Board. The CEO manages the day-today operations of the business and supports the Artistic Director to drive the artistic vision for the organisation.

The Trustee Board has commenced a period of change, driving board recruitment throughout the pandemic. New board appointments bring additional diversity, skills, and experience to the Trustee team, creating a positive challenge to the organisation’s decision-making processes. The CEO is also a Trustee of the organisation, and this strengthens the link between governance and operational management.

FINANCIAL REVIEW

Overview

The company achieved a surplus on unrestricted funds before transfers for the year of £236,516. The ACE CRF1 grant contributed an additional £27,000 to free reserves after transfers.

With income from events and activities falling from over £390k last year to just over £47k this year, we are grateful for the additional support given from The National Lottery, the Culture Recovery Fund along with everyone who has supported us with donations and grants. We were able to retain our staff with the support from the Job Retention Scheme.

Reserves

The Trustees have determined that there is a need to hold free reserves in the charity to cover unforeseen circumstances and to allow us to take advantage of development opportunities. Such unforeseen circumstances might include losses on events, unexpected costs, or loss in funding.

We continued to receive the support of the ongoing Arts Council National Portfolio Organisation funding which guarantees £103,000 per annum of income to the organisation, and through careful event and cost management we can protect against material losses. Funding from Bury Council of £48,000 and GMCA £50,000 also supports our core offer.

The Trustees have calculated that The Met should be aiming to hold c£150k in free reserves, which represents enough to cover unforeseen circumstances equating to 3 months of operating costs, wind up of the organisation in the event of a cessation of funding, or the realisation of losses on a major event. The Trustees put a plan in place to build up reserves to the required level over the next 15 years through steady net income growth and has a management plan in place to protect the organisation from high-risk events and to protect existing funding.

With the afore-mentioned support the current level of free reserves is £172,910. However, the Trustees are mindful of the need to maintain this level and will continue to ensure that the reserves policy is reviewed each year prior to the AGM.

Going concern

The Trustees are required to assess whether the use of going concern is appropriate, i.e., whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The Trustees make this assessment in respect of a period of at least one year from the date of authorisation of the accounts.

At the date of approving these accounts, the Trustees have a reasonable expectation that the charity is a going concern and has sufficient cash resources to enable it to meet its liabilities as they fall due for at least 12 months from the date of approval.

The Trustees receive regular updates on The Met’s financial performance.

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BURY METROPOLITAN ARTS ASSOCIATION TRUSTEES’ AND DIRECTORS’ ANNUAL REPORT FOR THE YEAR ENDED MARCH 31 2021

FUTURE PLANS

Our small team has already grown in 2021 and we had enough capacity to continue to build partnerships with good support from our core funders: Arts Council England, Bury Council and Greater Manchester Combined Authority’s Culture Portfolio who have extended their funding to March 2023.

We are currently transitioning into our new organisation, using our learning from the pandemic, and growing our audiences. Our confidence to deliver digital and live shows is one that will significantly develop our audiences to better serve our artists, community, and our region. We are looking forward to building on our newfound relationships as a leader of our community and as a strategically important venue for Greater Manchester. In 2021 – 2022 we aim to –

  1. Continue to deliver a varied annual programme of work continuing to develop our reputation as an incubator of innovative practice, community engagement and development of new talent both in the venue and in our digital work.

  2. Ensuring diversity in our programme through a collaborative approach.

  3. Ensuring we use affirmative action to ensure we develop talent from all backgrounds, for businesses and artists

  4. Ensuring consistency for our community groups through developing online content for our workshops which retains members and boosts wellbeing.

  5. Continue to develop the range and diversity of audiences through our works with LGBTQ+ Arts and culture Network, Creative Case for Diversity Community Group, the PRIDE network, by building on new digital audiences developed with UnitedWeStream, through diversity in our programming, through auditing our current practices and ensuring everything we do is inclusive.

  6. Continue to deliver a sustainable financial model with an entrepreneurial approach to diversifying income streams.

  7. Continue to develop the board and staff to ensure the right mix of skills, experience, and influence and reflection of our community through a mix of training and affirmative action.

  8. Continue to actively reduce our environmental impact by taking part in Bury Council’s Decarbonisation scheme.

These priorities will continue to develop in line with Arts Council England’s investment principles next year and ongoing staff and board conversations. Our work with GMCA and Bury Council has meant strategic development of our outreach ambitions, a more engaged conversation with our community and an international audience. Our delivery of Burrs Live this year has made a Town of Culture programme we can all be proud of. Now more than ever we are a champion of culture and intrinsic to life in Bury.

During COVID we were lucky enough to build some reserves, now as we move to progress from the pandemic, without financial assistance but still with hesitant audiences, we need to look to further planning and future proofing. We expect to continue our work in building small reserves, with a view to becoming more resilient. The way we achieve these goals has evolved and adapted, showing the resilience of the organisation and the strength of the current team.

Artistic Programme

We will continue to curate and programme The Met to continue to provide support for talent and new work alongside audience development to support financial sustainability, inclusivity, impact, innovation, and reputation.

The Met will present touring arts and music which represents a distinct offer regionally and work with artists to showcase, premiere and co-produce works to respond to opportunities and challenges both within the arts and wider community agenda. Of particular focus will be partnerships which inform the relevance of the programme at The Met and Head for the Hills to our developing communities including creatives and artists. Developing and sustaining partnerships to optimise the impact of our work, we will continue to widen our programme and continue to develop a high quality of artistic work across all projects. Our festivals will continue to bring new audiences to new artists, inspire and enrich our communities and support a culture of attending arts and music events locally.

The programme will embrace the benefit and opportunity of digital streaming and production we experienced out of need in 2020 considering artistic innovation, opportunities for talent development and the needs of communities not engaging regularly with our venue based programme.

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BURY METROPOLITAN ARTS ASSOCIATION TRUSTEES’ AND DIRECTORS’ ANNUAL REPORT FOR THE YEAR ENDED MARCH 31 2021

STRUCTURE GOVERNANCE AND MANAGEMENT

Governing document

The Charity is a company limited by guarantee and is governed by its Memorandum and Articles of Association dated February 9 1988, as amended by special resolution dated 13 July 2020. It is registered as a charity with the Charity Commission.

Members of the company

The Directors have the power to admit any person or organisation to membership, and in addition Bury Council is entitled to nominate up to six representatives as associate members, three of whom would be eligible for election as honorary officers or to serve as trustees, the other three have voting rights at the Annual General Meeting. The directors may unanimously resolve that it is in the best interests of the company that a membership should be terminated.

Appointment of trustees

The Directors, who are the Trustees, are collectively known as the Executive Committee. The Executive Committee consists of the Chair, and up to fifteen other members elected at the Annual General Meeting, of whom, at least six shall be nominated by group members of the company and three shall be associate members nominated by the Local Authority. The Executive Committee has the power to co-opt up to six additional members.

The Trustees who served during the year, together with any changes up to the date of approving this report are listed on page 1.

Trustee induction and training

Trustees are recruited through open recruitment, advertised via job boards and forums. Board members are introduced to the organisation and inducted by the Chief Executive and Chair. Interested individuals are invited to attend the next meeting and coopted at the next AGM if appropriate to the needs of the organisation. Non-voting observers are allocated by the organisation's major funding bodies.

Board development and training forms an important part of the organisation's business plan and training plan. Where skills gaps are evident on the Board, identified by annual audits and appraisals, training in those areas is offered to the current Board before being sought in new members.

Organisation

The Executive Committee administers the Charity and meets as necessary, usually five times a year, although during the pandemic this has been once per month. The board has a formal structure of sub-committees, which take responsibility for areas including staff mentoring, business plan development, risk management, programming, and finance. On the 1 October 2016, the board voted to appoint the Chief Executive to be a trustee and a director to strengthen the governance of the organisation.

The day-to-day operations of the Charity are the responsibility of the Chief Executive and Senior Management Team, to whom the Trustees have delegated authority for operational matters including finance, employment, and development, within the overall strategy agreed by the Executive Committee.

Related parties & co-operation with other organisations/charities

The charity has a close relationship with the cultural organisations of Bury and aims to work with other third sector organisations through its newly establish Creative Case Group. Bury Council provide essential core funding in support of the organisation as an amenity for local residents and the public. The Council actively works with the organisation and takes an active interest in its programme.

Pay and remuneration for senior staff

The board of directors, who are the charity’s trustees, and the senior management team comprise the key management personnel of the charity in charge of directing and controlling, running, and operating the Trust on a day-to-day basis. All trustees give of their time freely and no director received remuneration for their work on the board in the year.

Any connection between a trustee or senior manager of the charity with an artist, production company, contracted actor, performer, or exhibitor must be disclosed to the full board of trustees in the same way as any other contractual relationship with a related party. In the current year, no such related party transactions were reported.

The pay of the senior staff is reviewed annually and normally increased in line with inflation. In view of the nature of the charity, the directors benchmark against pay levels in other provincial theatres of a similar size run on a similar basis.

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BURY METROPOLITAN ARTS ASSOCIATION TRUSTEES’ AND DIRECTORS’ ANNUAL REPORT FOR THE YEAR ENDED MARCH 31 2021

TRUSTEES’ RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS

The trustees (who are also directors of Bury Metropolitan Arts Association for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT OF DISCLOSURE TO AUDITORS

We, the directors of the company who held office at the date of approval of these Financial Statements as set out above each confirm, so far as we are aware, that:

SMALL COMPANY PROVISIONS AND APPROVAL

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies’ exemption.

Approved by the Board of Trustees and signed on its behalf by:

H Clayton

H Clayton – Director & Chair

Date: November 25 2021

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INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF THE BURY METROPOLITAN ARTS ASSOCIATION FOR THE YEAR ENDED MARCH 31 2021

Opinion

We have audited the financial statements of Bury Metropolitan Arts Association (the ‘charitable company’) for the year ended March 31 2021 which comprise the Statement of Financial Activities, Balance Sheet and Statement of Cash Flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate 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 accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

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INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF THE BURY METROPOLITAN ARTS ASSOCIATION FOR THE YEAR ENDED MARCH 31 2021

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement, set out in the Directors’ and Trustees’ Report, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks in respect of irregularities and non-compliance with laws and regulations, was as follows:

We assessed the susceptibility of the company’s financial statement to material misstatement, including obtaining an understanding of how fraud might occur, by:

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

No instances of material non-compliance were identified. However, there are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/Our-Work/Audit/Audit-and-assurance/Standards-and-guidance/Standards-and-guidance-forauditors/Auditors-responsibilities-for-audit/Description-of-auditors-responsibilities-for-audit.aspx. This description forms part of our auditor’s report.

11

INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF THE BURY METROPOLITAN ARTS ASSOCIATION FOR THE YEAR ENDED MARCH 31 2021

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Peter Smith

Peter Smith BA FCA DChA – Senior Statutory Auditor

For and on behalf of:

HGA Accountants & Financial Consultants t/a Chittenden Horley Chartered Accountants and Statutory Auditors

456 Chester Road Old Trafford Manchester M16 9HD Date: November 30 2021

12

BURY METROPOLITAN ARTS ASSOCIATION STATEMENT OF FINANCIAL ACTIVITIES (including the Income and Expenditure Account) FOR THE YEAR ENDED MARCH 31 2021

Notes
Incoming resources from generated funds:
Donations
2
Charitable activities
3
Other trading activities
4
Investment income - bank interest
TOTAL INCOME
EXPENDITURE
Costs of raising funds
5
Expenditure on charitable activities
6
TOTAL EXPENDITURE
NET INCOME/(EXPENDITURE)
BEFORE TRANSFERS
Transfers between funds
14
NET MOVEMENT IN FUNDS
TOTAL FUNDS:
BROUGHT FORWARD
14
CARRIED FORWARD
14		 Unrestricted
Funds
£
478,344
47,283
54,242
149		 Restricted
Funds
£
145,600
160,347
-
-		 Total
Total
2021
2020
£
£
623,944
182,328
207,630
476,136
54,242
52,682
149
484
580,018 305,947 885,965
711,630
8,901
334,601		 -
335,134		 8,901
23,095
669,735
857,914
343,502 335,134 678,636
881,009
236,516
3,172,408		 (29,187)
(3,172,408)		 207,329
(169,379)
-
-
3,408,924
(45,871)		 (3,201,595)
3,432,957		 207,329
(169,379)
3,387,086
3,556,465
3,363,053 231,362 3,594,415
3,387,086

The notes on pages 16 to 27 form part of these financial statements.

13

BURY METROPOLITAN ARTS ASSOCIATION BALANCE SHEET AS AT MARCH 31 2021

Notes
FIXED ASSETS
Tangible Assets
10
CURRENT ASSETS
Debtors
11
Cash at Bank and in Hand
CREDITORS
Amounts falling due in one year
12
NET CURRENT ASSETS
CREDITORS
Amounts falling due in more than one year
13
NET ASSETS
FUNDS
Unrestricted
General fund
14
Restricted
14
TOTAL FUNDS		 2021
£
147,865
546,697		 2021
2020
2020
£
£
£
3,220,905
3,405,178
61,455
295,842
357,297
344,627
404,272
12,670
3,625,177
3,417,848
30,762
30,762
3,594,415
3,387,086
3,363,053
(45,871)
231,362
3,432,957
3,594,415
3,387,086
694,562
290,290

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

The notes on pages 16 to 27 form part of these financial statements.

Approved by the Board of Directors and authorised for issue on: November 25 2021

And signed on their behalf by:

H Clayton

H Clayton – Director & Chair Company registration number: 2370868

14

BURY METROPOLITAN ARTS ASSOCIATION STATEMENT OF CASH FLOWS AS AT MARCH 31 2021

notes
Cash used in operating activities
16
Cashflows from investing activities
Interest and dividends
Purchase of tangible fixed assets
Proceeds of sale of fixed assets
Payments to acquire investments
Cash provided by/(used in) investing activities
Cashflows from financing activities
Proceeds from new borrowings
Repayment of borrowing
Cash used in financing activities
Increase/(decrease) in cash & cash equivalents in the year
Cash and cash equivalents brought forward
Cash and cash equivalents carried forward
Cash and cash equivalents consist of:
Cash at bank and in hand		 2021
2020
£
£
270,442
139,556
149
484
(18,820)
(34,516)
-
-
-
-
(18,671)
(34,032)
-
-
(916)
(1,615)
(916)
(1,615)
250,855
103,909
295,842
191,933
546,697
295,842
546,697
295,842
546,697
295,842

Details of the movement in net debt is given in note 17.

The notes on pages 16 to 27 form part of these financial statements.

15

BURY METROPOLITAN ARTS ASSOCIATION ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31 2021

1 BASIS OF PREPARATION AND ACCOUNTING POLICIES

1a Basis of Preparation

Accounting framework

The financial statements have been prepared: under the historic cost convention; in accordance with the Statement of Recommended Practice – Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) effective January 1 2019 (second edition – October 2019); FRS102; and the Companies Act 2006. The charity constitutes a public benefit entity as defined by FRS102.

The accounts are prepared in £ sterling, which is the functional currency.

Going Concern

The Trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the Charity.

1b Accounting policies

Income recognition

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. The following applies to particular types of income:

Grants , whether of a capital or revenue nature, are recognised when the charity has entitlement to the funds, any performance conditions have been met and it is probable that the income will be received.

Donations from individuals and other bodies (not being of the nature of a grant) are recognised when receivable.

Box office revenue and other payments for performances are accounted for in the period in which the performance takes place, net of discounts and VAT where charged.

Other earned income is measured at the fair value of the consideration received or receivable for services and goods supplied, net of discounts and VAT, where charged.

Deferred income

Income is only deferred and included in creditors when:

Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Costs of raising funds

including those associated with fundraising activities and managing investments.

Charitable activities costs of undertaking the work of the charity.

The charity is registered for VAT and is able to recover some of the input tax charged as it relates to VATable supplies. Allowable costs are stated net of VAT where charged, irrecoverable VAT is included as a separate charge within support costs. Direct costs where VAT is not recoverable are included gross within direct costs.

Allocation of support costs

Support costs are those functions which assist the work of the charity either by supporting the delivery of charitable activities or by supporting the generation of funds. They include property costs, back-office functions, staff costs and professional fees. The basis of allocations is set out in note 9.

16

BURY METROPOLITAN ARTS ASSOCIATION ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31 2021

1b Accounting Policies (continued)

Tangible fixed assets and depreciation

Individual fixed assets costing more than £500 are capitalised at cost and are depreciated, once brought into use, over their estimated useful lives on a straight-line basis as set out below.

Depreciation rates are as follows: Premises over the remaining life of the lease Theatre & studio equipment 14% pa Other equipment & fixtures 20% pa

Depreciation on the assets forming part of the capital project commenced from April 1, 2017, the date the company has determined that they were brought into full use.

Debtors

Trade and other debtors are recognised at the settlement amount due, and prepayments are valued at the amount prepaid.

Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount.

Financial instruments

The charity has only basic financial instruments, with the exception of the interest free loans, which are initially recorded at cost subsequently measured at their settlement value.

The interest free loans are intended to be repaid within the next five years and therefore any adjustment to their carrying value would be immaterial.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

17

BURY METROPOLITAN ARTS ASSOCIATION ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31 2021

2 DONATIONS
Revenue grants:
Arts Council England
Bury MBC
GMCA
COVID funding
ACE emergency
ACE CRF1
Bury MBC
National Lottery
HMRC - CJRF
Capital grants
Access Ramp
Bury MBC
Donations
Donation Ramsbottom Festival
Donation - refurbishment
General donations
Total		 Unrestricted 2021
Restricted		 Total Unrestricted 2020
Restricted
Total
£
102,831
48,750
50,000		 £
-
-
-		 £
102,831
48,750
50,000		 £
100,580
48,750
-		 £
£
-
100,580
-
48,750
-
-
201,581 - 201,581 149,330 -
149,330
31,999
-
35,322
62,803
110,402		 -
115,600
-
-
-		 31,999
115,600
35,322
62,803
110,402		 -
-
-
-
-		 -
-
-
-
-
-
-
-
-
-
240,526 115,600 356,126 - -
-
-
-		 -
30,000		 -
30,000		 -
-		 10,000
10,000
-
-
- 30,000 30,000 - 10,000
10,000
36,237 -
-
-		 -
-
36,237		 -
22,998		 -
-
-
-
-
22,998
36,237 - 36,237 22,998 -
22,998
478,344 145,600 623,944 172,328 10,000
182,328

18

BURY METROPOLITAN ARTS ASSOCIATION ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31 2021

3 INCOME FROM CHARITABLE ACTIVITIES

INCOME FROM CHARITABLE ACTIVITIES
Unrestricted
£
Music and theatre
Box office
15,081
Theatre hires
18,576
Beer festival
-
Metro Jazz
-
Radcliffe
-
Foyle Foundation
-
United we stream
-
salary grant
-
Other income
3,149
36,806
Outreach and education
Workshops
2,610
Edwin Street recording studio
7,867
Bury MBC - Seldom Heard Voices
Bury MBC - Winter Streams
Bury MBC - hate crime
The Baily Thomas Charitable Foundation
Children in Need (Aiming Higher)
-
Garfield Weston
-
Key Fund
-
The National Lottery Community Fun
-
Oglesby
-
Trinity College
-
Zochonis
-
10,477
Head for the Hills
Ticket income
-
Ancillary trading
-
Grant income
-
-
Total per Charity
47,283		 Unrestricted 2021
Restricted		 Total Unrestricted 2020
Restricted
Total
£
15,081
18,576
-
-
-
-
-
-
3,149		 £
-
-
-
-
-		 £
15,081
18,576
-
-
-
25,000
5,410
3,000
3,149		 £
267,254
74,301
14,367
1,294
-		 £
£
-
267,254
-
74,301
-
14,367
-
1,294
8,540
8,540
25,000
5,410
3,000		 -
-
-		 -
-
-
-
-
-
- 6,279 -
6,279
36,806 33,410 70,216 363,495 8,540
372,035
-
-
5,000
8,000
2,290
2,000
10,906
-
25,000
20,261
42,700
780
1,500		 2,610
7,867
5,000
8,000
2,290
2,000
10,906
-
25,000
20,261
42,700
780
1,500		 11,446
15,163
-
-
-
-
-
-
-
-
-
-		 -
11,446
-
15,163
-
-
-
-
-
-
11,993
11,993
50,000
50,000
-
-
-
-
12,500
12,500
-
-
3,000
3,000
10,477 118,437 128,914 26,609 77,493
104,102
-
-
-		 -
-
8,500		 -
-
8,500		 -
-
-		 -
-
-
-
-
-
- 8,500 8,500 - -
-
47,283 160,347 207,630 390,104 86,033
476,137

There is no income attributable to designated funds in either year.

19

BURY METROPOLITAN ARTS ASSOCIATION ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31 2021

Unrestricted
£
4 INCOME FROM OTHER TRADING ACTIVITIES
Sponsorship - Music and theatre
9,921
Sponsorship - Head for the Hills
-
Catering contract
35,000
Merchandise sales & other fundraising
9,321
54,242
5 COSTS OF RAISING FUNDS
Direct salaries
7,262
Direct costs
319
Support costs
1,320
8,901		 Unrestricted 2021
Restricted		 Total Unrestricted 2020
Restricted
Total
£
-
-
-
-		 £
9,921
-
35,000
9,321		 £
13,001
-
35,000
4,681		 £
£
-
13,001
-
-
-
35,000
-
4,681
54,242 - 54,242 52,682 -
52,682
7,262
319
1,320		 -
-
-		 7,262
319
1,320		 6,687
14,197
2,211		 -
6,687
-
14,197
-
2,211
8,901 - 8,901 23,095 -
23,095
Unrestricted
£
6 CHARITABLE EXPENDITURE
Music and theatre
499,740
Outreach and education
63,176
Head for the Hills
-
Refurbishment
-
ACE - CFRF1
(33,968)
Depreciation charged to restricted funds
(194,347)
334,601
Expenditure in the charity is analysed as follows:
2020/21
Music and theatre
Outreach and education
Head for the Hills
Refurbishment
2019/20
Music and theatre
Outreach and education
Head for the Hills
Refurbishment		 Unrestricted 2021
Restricted		 Total Unrestricted 2020
Restricted
Total
£
13,922
86,840
6,057
-
33,968
194,347		 £
513,662
150,016
6,057
-
-
-		 £
688,809
113,990
2,220
-
(194,347)		 £
£
21,767
710,576
27,710
141,700
-
2,220
3,418
3,418
194,347
-
334,601 335,134 669,735 610,672 247,242
857,914
follows: Direct
Costs
£
35,064
20,321
6,057
-		 Direct
Salaries
£
208,088
44,477
-
-		 Support
Costs
Total
£
£
270,510
513,662
85,218
150,016
-
6,057
-
-
61,442 252,565 355,728
669,735
243,107
18,571
549
3,418		 150,894
37,042
-
-		 316,575
710,576
86,087
141,700
1,671
2,220
-
3,418
265,645 187,936 404,333
857,914

20

BURY METROPOLITAN ARTS ASSOCIATION ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31 2021

7 SUPPORT & GOVERNANCE COSTS

2020/21
Support salaries costs
Staff related costs
Marketing costs
BO system and other subscriptions
Insurance costs
Office & other support costs
Bad debt expense
Bank & credit card charges
Depreciation
Governance costs
Support salaries costs
Professional fees
2019/20
Support costs
Support salaries costs
Staff related costs
Marketing costs
BO system and other subscriptions
Insurance costs
Office & other support costs
Bad debt expense
Bank & credit card charges
Management accounts
Depreciation
Governance costs
Support salaries costs
Professional fees		 Music &
theatre
£
104,153
7,018
3,633
2,340
4,730
19,907
-
1,830
121,856		 Outreach &
education
£
-
780
428
123
1,183
1,106
-
96
81,237		 Head for
the Hills
£
-
-
-
-
-
-
-
-		 Total
Fundraising
2021
£
£
-
104,153
-
7,798
214
4,275
-
2,463
-
5,913
1,106
22,119
-
-
-
1,926
-
203,093
265,467
-
5,043		 84,953
-
265		 -
-
-		 1,320
351,740
-
5,308
270,510 85,218 - 1,320
357,048
90,413
3,262
25,285
1,644
4,619
12,378
26,415
10,984
8,571
117,420		 -
363
3,045
87
1,155
688
-
578
1,071
78,280		 -
-
600
-
-
-
-
-
1,071
-		 -
90,413
-
3,625
1,523
30,453
-
1,731
-
5,774
688
13,754
-
26,415
-
11,562
-
10,713
-
195,700
300,991
3,800
11,784		 85,267
200
620		 1,671
-
-		 2,211
390,140
-
4,000
-
12,404
316,575 86,087 1,671 2,211
406,544

Support costs are allocated on the following basis:

Area basis comment

Marketing costs estimate of usage Support salaries estimate of time spent

Other costs:

Property Irrecoverable VAT (after any direct attribution) All other costs Depreciation

Space

Head count net of any direct attribution estimate of usage/head count estimate of usage

21

BURY METROPOLITAN ARTS ASSOCIATION ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31 2021

8 STAFF INFORMATION
a Employees
Salaries and wages
Employer's pensions
Employer's NI contributions		 2021
2020
£
£
332,973
260,623
13,464
12,169
17,543
16,244
363,980
289,036

No employees earned more than £60,000 p.a. in either year.

b Key management personnel

The key management of the charity comprise the trustees and senior staff (as set out on page 1).

No trustees received remuneration for their services as trustees.

The total employee benefits of other key management were as follows:

Total employment benefits
Average staff numbers
The average number of employees, was as follows:-
Employees
Direct charitable - actors and stage managers		 2021
Average
number
18
-		 £
179,333		 £
175,171
2020
2020
Average
Average FTE
number
number
16
13
1
1
2021
Average FTE
number
13
-
18 13 17
14

c Average staff numbers

9 NET INCOME/(EXPENDITURE) BEFORE TRANSFERS

This is stated after charging/(crediting):
Auditors remuneration:-
Audit fees
Accountancy fees
Advice/other services
Operating lease rentals
Depreciation of fixed assets
Loss on disposal
Trustees expenses
Trustees claiming expenses
Details of related party transactions are given in note 21.		 £
£
2,800
2,800
2,241
2,241
1,500
1,500
-
-
203,093
15,208
-
-
-
-
-
-

22

BURY METROPOLITAN ARTS ASSOCIATION ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31 2021

10 TANGIBLE FIXED ASSETS

TANGIBLE FIXED ASSETS
Cost or valuation
As at April 1 2020
Additions
As at March 31 2021
Depreciation
As at April 1 2020
Charge for the year
As at March 31 2021
Net Book Value
As at March 31 2021
As at March 31 2020		 short
Theatre &
leasehold
studio
Improvements
Equipment
£
£
3,460,428
539,393
-
-		 short
Theatre &
leasehold
studio
Improvements
Equipment
£
£
3,460,428
539,393
-
-		 Other
Equipment
& fixtures
Total
£
£
127,272
4,127,093
18,820
18,820
3,460,428 539,393 146,092
4,145,913
344,533
114,155		 313,524
77,100		 63,858
721,915
11,838
203,093
458,688 390,624 75,696
925,008
3,001,740 148,769 70,396
3,220,905
3,115,895 225,869 63,414
3,405,178

The net book value of assets held on finance leases included in other equipment is £0 (2020 - £1,049).

11 DEBTORS
Trade debtors
VAT reclaimable
Grants and income receivable
Prepayments and other debtors
12 CREDITORS falling due within one year
Creditors
Other taxes and social security
Accruals
Income and grants in advance
Other creditors
Third party resources
Finance lease creditors due in one year
13 CREDITORS amounts falling due in more than one year
Bury MBC - loan 1
Bury MBC - loan 2		 2021
2020
£
£
71,029
22,572
6,530
-
46,663
23,538
23,643
15,346
147,865
61,456
8,632
20,950
5,864
18,427
18,190
16,234
110,470
158,911
134,074
114,472
13,060
14,718
-
915
290,290
344,627
10,762
10,762
20,000
20,000
30,762
30,762

Loans 1 & 2 from Bury MBC are interest free. The Charity had agreed with the Council a formula for repaying the loans based on annual surpluses from 2017/18, however in the light of the need to rebuild free reserves and recover from the pandemic the Council is not pursuing the repayment of the loan.

23

BURY METROPOLITAN ARTS ASSOCIATION ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31 2021

14 STATEMENT OF FUNDS

2020/21
Income
Expenditure
Transfers
31/03/2021
£
£
£
£
580,018
(343,502)
3,172,408
3,363,053
580,018
(343,502)
3,172,408
3,363,053
115,600
(33,968)
(27,000)
54,632
33,410
(8,410)
-
25,000
118,437
(86,840)
(3,046)
80,392
8,500
(6,057)
-
2,443
275,947
(135,275)
(30,046)
162,467
30,000
-
-
68,895
-

(5,512)
-
-
30,000
(5,512)
-
68,895
-

(194,347)
(3,142,362)
-
-
(194,347)
(3,142,362)
-
305,947
(335,134)
(3,172,408)
231,362
885,965
(678,636)
-
3,594,415		 2020/21
Income
Expenditure
Transfers
31/03/2021
£
£
£
£
580,018
(343,502)
3,172,408
3,363,053
580,018
(343,502)
3,172,408
3,363,053
115,600
(33,968)
(27,000)
54,632
33,410
(8,410)
-
25,000
118,437
(86,840)
(3,046)
80,392
8,500
(6,057)
-
2,443
275,947
(135,275)
(30,046)
162,467
30,000
-
-
68,895
-

(5,512)
-
-
30,000
(5,512)
-
68,895
-

(194,347)
(3,142,362)
-
-
(194,347)
(3,142,362)
-
305,947
(335,134)
(3,172,408)
231,362
885,965
(678,636)
-
3,594,415		 2020/21
Income
Expenditure
Transfers
31/03/2021
£
£
£
£
580,018
(343,502)
3,172,408
3,363,053
580,018
(343,502)
3,172,408
3,363,053
115,600
(33,968)
(27,000)
54,632
33,410
(8,410)
-
25,000
118,437
(86,840)
(3,046)
80,392
8,500
(6,057)
-
2,443
275,947
(135,275)
(30,046)
162,467
30,000
-
-
68,895
-

(5,512)
-
-
30,000
(5,512)
-
68,895
-

(194,347)
(3,142,362)
-
-
(194,347)
(3,142,362)
-
305,947
(335,134)
(3,172,408)
231,362
885,965
(678,636)
-
3,594,415		 2020/21
Income
Expenditure
Transfers
31/03/2021
£
£
£
£
580,018
(343,502)
3,172,408
3,363,053
580,018
(343,502)
3,172,408
3,363,053
115,600
(33,968)
(27,000)
54,632
33,410
(8,410)
-
25,000
118,437
(86,840)
(3,046)
80,392
8,500
(6,057)
-
2,443
275,947
(135,275)
(30,046)
162,467
30,000
-
-
68,895
-

(5,512)
-
-
30,000
(5,512)
-
68,895
-

(194,347)
(3,142,362)
-
-
(194,347)
(3,142,362)
-
305,947
(335,134)
(3,172,408)
231,362
885,965
(678,636)
-
3,594,415		 2020/21
Income
Expenditure
Transfers
31/03/2021
£
£
£
£
580,018
(343,502)
3,172,408
3,363,053
580,018
(343,502)
3,172,408
3,363,053
115,600
(33,968)
(27,000)
54,632
33,410
(8,410)
-
25,000
118,437
(86,840)
(3,046)
80,392
8,500
(6,057)
-
2,443
275,947
(135,275)
(30,046)
162,467
30,000
-
-
68,895
-

(5,512)
-
-
30,000
(5,512)
-
68,895
-

(194,347)
(3,142,362)
-
-
(194,347)
(3,142,362)
-
305,947
(335,134)
(3,172,408)
231,362
885,965
(678,636)
-
3,594,415		 2020/21
Income
Expenditure
Transfers
31/03/2021
£
£
£
£
580,018
(343,502)
3,172,408
3,363,053
580,018
(343,502)
3,172,408
3,363,053
115,600
(33,968)
(27,000)
54,632
33,410
(8,410)
-
25,000
118,437
(86,840)
(3,046)
80,392
8,500
(6,057)
-
2,443
275,947
(135,275)
(30,046)
162,467
30,000
-
-
68,895
-

(5,512)
-
-
30,000
(5,512)
-
68,895
-

(194,347)
(3,142,362)
-
-
(194,347)
(3,142,362)
-
305,947
(335,134)
(3,172,408)
231,362
885,965
(678,636)
-
3,594,415		 2020/21
Income
Expenditure
Transfers
31/03/2021
£
£
£
£
580,018
(343,502)
3,172,408
3,363,053
580,018
(343,502)
3,172,408
3,363,053
115,600
(33,968)
(27,000)
54,632
33,410
(8,410)
-
25,000
118,437
(86,840)
(3,046)
80,392
8,500
(6,057)
-
2,443
275,947
(135,275)
(30,046)
162,467
30,000
-
-
68,895
-

(5,512)
-
-
30,000
(5,512)
-
68,895
-

(194,347)
(3,142,362)
-
-
(194,347)
(3,142,362)
-
305,947
(335,134)
(3,172,408)
231,362
885,965
(678,636)
-
3,594,415		 2020/21
Income
Expenditure
Transfers
31/03/2021
£
£
£
£
580,018
(343,502)
3,172,408
3,363,053
580,018
(343,502)
3,172,408
3,363,053
115,600
(33,968)
(27,000)
54,632
33,410
(8,410)
-
25,000
118,437
(86,840)
(3,046)
80,392
8,500
(6,057)
-
2,443
275,947
(135,275)
(30,046)
162,467
30,000
-
-
68,895
-

(5,512)
-
-
30,000
(5,512)
-
68,895
-

(194,347)
(3,142,362)
-
-
(194,347)
(3,142,362)
-
305,947
(335,134)
(3,172,408)
231,362
885,965
(678,636)
-
3,594,415		 2020/21
Income
Expenditure
Transfers
31/03/2021
£
£
£
£
580,018
(343,502)
3,172,408
3,363,053
580,018
(343,502)
3,172,408
3,363,053
115,600
(33,968)
(27,000)
54,632
33,410
(8,410)
-
25,000
118,437
(86,840)
(3,046)
80,392
8,500
(6,057)
-
2,443
275,947
(135,275)
(30,046)
162,467
30,000
-
-
68,895
-

(5,512)
-
-
30,000
(5,512)
-
68,895
-

(194,347)
(3,142,362)
-
-
(194,347)
(3,142,362)
-
305,947
(335,134)
(3,172,408)
231,362
885,965
(678,636)
-
3,594,415		 2020/21
Income
Expenditure
Transfers
31/03/2021
£
£
£
£
580,018
(343,502)
3,172,408
3,363,053
580,018
(343,502)
3,172,408
3,363,053
115,600
(33,968)
(27,000)
54,632
33,410
(8,410)
-
25,000
118,437
(86,840)
(3,046)
80,392
8,500
(6,057)
-
2,443
275,947
(135,275)
(30,046)
162,467
30,000
-
-
68,895
-

(5,512)
-
-
30,000
(5,512)
-
68,895
-

(194,347)
(3,142,362)
-
-
(194,347)
(3,142,362)
-
305,947
(335,134)
(3,172,408)
231,362
885,965
(678,636)
-
3,594,415		 2020/21
Income
Expenditure
Transfers
31/03/2021
£
£
£
£
580,018
(343,502)
3,172,408
3,363,053
580,018
(343,502)
3,172,408
3,363,053
115,600
(33,968)
(27,000)
54,632
33,410
(8,410)
-
25,000
118,437
(86,840)
(3,046)
80,392
8,500
(6,057)
-
2,443
275,947
(135,275)
(30,046)
162,467
30,000
-
-
68,895
-

(5,512)
-
-
30,000
(5,512)
-
68,895
-

(194,347)
(3,142,362)
-
-
(194,347)
(3,142,362)
-
305,947
(335,134)
(3,172,408)
231,362
885,965
(678,636)
-
3,594,415
b/f and c/f
31/03/2020
01/04/2020
£
(45,871)		 (45,871) -
-
51,841
-		 51,841 38,895
5,512		 44,407 3,336,709 3,336,709 3,432,957 3,387,086
2019/20
01/04/2019
Income
Expenditure
Transfers
£
£
£
£
(27,701)
615,597
(633,767)
-
(27,701)
615,597
(633,767)
-
-
-
-
-
-
8,540
(8,540)
-
2,058
77,493
(27,710)
-
-
-
-
-
2,058
86,033
(36,250)
-
63,785
10,000
(3,418)
(31,472)
18,739
-
(13,227)
-
82,524
10,000
(16,645)
(31,472)
3,499,584
-
(194,347)
31,472
3,499,584
-
(194,347)
31,472
3,584,166
96,033
(247,242)
-
3,556,465
711,630
(881,009)
-
Unrestricted funds:
General fund
Restricted Funds:
ACE CRF1
Theatre and Music
Education & Outreach
Head for the Hills
Refurbishment
Capital grants
Capital grants BO licences
Capital grants
Capital grants expended
Restricted funds
Total Funds

24

BURY METROPOLITAN ARTS ASSOCIATION ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31 2021 14 STATEMENT OF FUNDS (continued)

2020/21
Income
Expenditure
Transfers
31/03/2021
£
£
£
£
-
-
-
-
25,000
-
-
25,000
5,410
(5,410)
-
-
3,000
(3,000)
-
-
33,410
(8,410)
-
25,000
5,000
(5,000)
-
-
8,000
(8,000)
-
-
2,290
(677)
-
1,613
2,000
-
-
2,000
10,906
(12,267)
-
-
-
(16,813)
(3,046)
22,888
25,000
(25,000)
-
-
20,261
(1,450)
-
18,811
42,700
(16,133)
-
34,300
780
-
-
780
1,500
(1,500)
-
-
118,437
(86,840)
(3,046)
80,392		 2020/21
Income
Expenditure
Transfers
31/03/2021
£
£
£
£
-
-
-
-
25,000
-
-
25,000
5,410
(5,410)
-
-
3,000
(3,000)
-
-
33,410
(8,410)
-
25,000
5,000
(5,000)
-
-
8,000
(8,000)
-
-
2,290
(677)
-
1,613
2,000
-
-
2,000
10,906
(12,267)
-
-
-
(16,813)
(3,046)
22,888
25,000
(25,000)
-
-
20,261
(1,450)
-
18,811
42,700
(16,133)
-
34,300
780
-
-
780
1,500
(1,500)
-
-
118,437
(86,840)
(3,046)
80,392		 2020/21
Income
Expenditure
Transfers
31/03/2021
£
£
£
£
-
-
-
-
25,000
-
-
25,000
5,410
(5,410)
-
-
3,000
(3,000)
-
-
33,410
(8,410)
-
25,000
5,000
(5,000)
-
-
8,000
(8,000)
-
-
2,290
(677)
-
1,613
2,000
-
-
2,000
10,906
(12,267)
-
-
-
(16,813)
(3,046)
22,888
25,000
(25,000)
-
-
20,261
(1,450)
-
18,811
42,700
(16,133)
-
34,300
780
-
-
780
1,500
(1,500)
-
-
118,437
(86,840)
(3,046)
80,392		 2020/21
Income
Expenditure
Transfers
31/03/2021
£
£
£
£
-
-
-
-
25,000
-
-
25,000
5,410
(5,410)
-
-
3,000
(3,000)
-
-
33,410
(8,410)
-
25,000
5,000
(5,000)
-
-
8,000
(8,000)
-
-
2,290
(677)
-
1,613
2,000
-
-
2,000
10,906
(12,267)
-
-
-
(16,813)
(3,046)
22,888
25,000
(25,000)
-
-
20,261
(1,450)
-
18,811
42,700
(16,133)
-
34,300
780
-
-
780
1,500
(1,500)
-
-
118,437
(86,840)
(3,046)
80,392		 2020/21
Income
Expenditure
Transfers
31/03/2021
£
£
£
£
-
-
-
-
25,000
-
-
25,000
5,410
(5,410)
-
-
3,000
(3,000)
-
-
33,410
(8,410)
-
25,000
5,000
(5,000)
-
-
8,000
(8,000)
-
-
2,290
(677)
-
1,613
2,000
-
-
2,000
10,906
(12,267)
-
-
-
(16,813)
(3,046)
22,888
25,000
(25,000)
-
-
20,261
(1,450)
-
18,811
42,700
(16,133)
-
34,300
780
-
-
780
1,500
(1,500)
-
-
118,437
(86,840)
(3,046)
80,392
b/f and c/f
31/03/2020
01/04/2020
£
-
-
-
-		 - -
-
-
-
1,361
42,747
-
-
7,733
-
-		 51,841
2019/20
01/04/2019
Income
Expenditure
Transfers
£
£
£
£
-
8,540
(8,540)
-
-
-
-
-
-
-
-
-
-
-
-
-
-
8,540
(8,540)
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
11,993
(10,632)
-
-
50,000
(7,253)
-
-
-
-
-
-
-
-
-
2,058
12,500
(6,825)
-
-
-
-
-
-
3,000
(3,000)
-
2,058
77,493
(27,710)
-

25

BURY METROPOLITAN ARTS ASSOCIATION ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31 2021

14 STATEMENT OF FUNDS (continued)

Transfers

As there are no continuing restrictions over the use of the fixed assets created/bought by the expanded capital grants the balance of the fund has been transferred to unrestricted funds at the year end.

Part of the ACE CRF1 monies was to enable the rebuilding of reserves, and a transfer for this amount has been made to general funds.

Part of the Garfield Weston grant was used to purchase fixed assets and this amount has been transferred to unrestricted funds.

Restricted funds

ACE CRF1 Towards the additional costs arising from the pandemic. Foyle Foundation Towards the costs of expanding digital provision. Bury MBC - hate crime Towards hate crime project The Baily Thomas Charitable Foundation Outreach work Garfield Weston For learning and outreach service Oglesby Trust Towards costs of outreach manger Trinity College Outreach work The above funds will be spent during 2021/22.

Refurbishment

These funds are for the refurbishment work which commenced in March 2016. They were expected to be substantially spent but there is some ongoing work in 2021/22 and additional assets are being acquired.

15 ANALYSIS OF NET ASSETS BETWEEN FUNDS

ANALYSIS OF NET ASSETS BETWEEN FUNDS
Fund balances at March 31 2021
are represented by:-
Fixed assets
Net current assets
Creditors due in more than one year
Fund balances at March 31 2020
are represented by:-
Fixed assets
Net current assets
Creditors due in more than one year
Free Reserves:
Net current assets		 Unrestricted
Funds
£
3,220,905
172,910
(30,762)		 Restricted
Total
Funds
£
£
-
3,220,905
231,362
404,272
-
(30,762)
3,363,053 231,362
3,594,415
66,779
(62,803)
(31,677)		 3,499,584
3,566,363
84,582
21,779
-
(31,677)
(27,701) 3,584,166
3,556,465
2021
£
172,910		 2020
£
(62,803)

16 RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASHFLOW FROM OPERATING ACTIVITIES

Net income/(expenditure)
Add back depreciation
Deduct interest income shown in investing activities
Deduct profit/add back losses on disposals of FA
Decrease/(increase) in debtors
Increase/(decrease) in creditors
Net cash generated from/(used in) operating activities		 207,329
(169,379)
203,093
195,702
(149)
(484)
-
-
(86,409)
84,647
(53,422)
29,070
270,442
139,556

26

BURY METROPOLITAN ARTS ASSOCIATION ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31 2021

17 MOVEMENT IN NET DEBT

Cash and cash equivalents
Cash at bank and in hand
Debt
Finance lease obligations
Loans
Cash and cash equivalents net of debt		 at 31/3/20
£
295,842		 cashflows
£
250,855		 New
borrowings
£
-		 other non
cash
as 31/3/21
£
£
-
546,697
(915)
(30,762)		 915
-		 -
-		 -
-
-
(30,762)
(31,677) 915 - -
(30,762)
264,165 515,935

There were no: acquisitions or disposals of subsidiaries; foreign exchange movements; or market value changes in the period.

18 CONSTITUTION

The Company is limited by guarantee and does not have a share capital. In the event of the Company being wound up the members are committed to contributing £1 each.

19 TAXATION

The company is a registered charity and is entitled to claim annual exemption from UK corporation tax under sections 466 to 477 of the Corporation Tax Act 2010.

20 CAPITAL COMMITMENTS

The company had the following capital commitments at the year end:
Authorised and committed
Authorised but not committed		 2021
2020
£
£
-
11,082
-
-
-

21 RELATED PARTY TRANSACTIONS

The artistic director is freelance and paid for his services through his limited company So It Is Arts Limited.

On October 1 2016, the Chief Executive Officer V Robinson was appointed as a trustee following a change in the Articles of Association. She did not receive any remuneration for acting as a trustee. Her employment benefits in the year were £48,412 (2020 - £44,589).

A Comstive, Marketing Manager, is the husband of the CEO, his employment benefits in the year were £29,991(2020 - £31,532). A Comstive left in March 2021.

22 OPERATING LEASE COMMITMENTS

The company had no annual commitments under operating leases at the year end, since the properties at Derby Hall, Market Street and Edwin Street are subject to a lease at peppercorn rent.

23 ARTS COUNCIL ENGLAND CHARGE

As a condition of the capital funding received from the Arts Council England the charity has entered into a fixed charge of its leasehold premises.

27

BURY METROPOLITAN ARTS ASSOCIATION ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31 2021

The following page does not form part of the audited financial statements

28

BURY METROPOLITAN ARTS ASSOCIATION DETAILED INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED MARCH 31 2020

INCOME
Revenue grant - ACE NW
Bury MBC
GMCA
COVID Funding
Capital grants
Donations
Music and theatre
Outreach and education
Ramsbottom festival
Sponsorship
Catering
Other fundraising income
Bank interest
EXPENDITURE
Salaries costs
Travel, training & recruitment
Artists fees & show costs
Metro Jazz expenses
Event security
PRS and other licences
Radcliffe
Recording Studio costs
Outreach and education other
Ramsbottom Festival costs
Refurbishment
Fundraising costs
Marketing costs
BO and other subs
Telephone
Postage & stationery
Hire of equipment
Other office costs
Insurance
Repairs & renewals
Audit & accountancy
Legal & professional
Book-keeping/Management accounts
Bad debts
Bank charges
Depreciation
Charged to restricted funds
NET INCOMING/(OUTGOING) RESOURCES
BEFORE TRANSFERS		 Unrestricted
£
102,831
48,750
50,000
240,526
-
36,237
36,806
10,477
-
9,921
35,000
9,321
149		 Restricted
Revenue
£
-
-
-
115,600
-
-
33,410
118,437
8,500
-
-
-
-		 Restricted
Capital
£
-
-
-
30,000
-
-
-
-
-
-
-		 2021
2020
Total
Total
£
£
102,831
100,580
48,750
48,750
50,000
-
356,126
-
30,000
10,000
36,237
22,998
70,216
372,035
128,914
104,102
8,500
-
9,921
13,001
35,000
35,000
9,321
4,681
149
484
580,018 275,947 30,000 885,965
711,631
363,980
7,798
16,353
-
-
130
-
-
20,321
6,057
-
319
4,275
2,463
669
2,481
2,235
16,734
5,913
18,581
5,273
35
-
-
1,926
8,746
(140,787)		 -
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
135,275		 -
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
194,347
5,512		 363,980
289,036
7,798
3,625
16,353
211,229
-
11,970
-
2,625
130
9,161
-
8,540
-
3,960
20,321
14,611
6,057
549
-
3,000
319
14,197
4,275
30,453
2,463
1,731
669
294
2,481
3,138
2,235
(1,105)
16,734
11,427
5,913
5,774
18,581
-
5,273
4,545
35
7,859
-
10,713
-
26,415
1,926
11,562
203,093
195,700
-
-
343,502 135,275 199,859 678,636
881,009
236,516 140,672 (169,859) 207,329
(169,378)

29