BURY METROPOLITAN ARTS ASSOCIATION (a company limited by guarantee) tla THE MET ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 312024 Company number 2370868 Charlry number701879 ANNUAL REPORT AND FINANCIAL sfATEMEpif8 FOR THE YEAR ENDEO IAARCH 812ry24 INDEX Chairfs foreword Adrninistratbve informatton Trustee5' and Director￿ annual report Auditors. rep)rt 11-13 Ststement of financial athvities 14 Balance sheet ststement ofcash fl(w5 16 Note5 to the finantial state￿￿nts 17-27 CHAIR'S F0RE￿y>RD TO THE ANNUAL REpoirr F(XI THE YEAR EMDED MARCH 312024 It Is wlth great wde that I present this yearfs annual reportforThe Met, Bury. As Chalrof Trustees, I have had the prNile8e of witnessinB tirsthand the iNredible aChIeve￿nts of our organlsatri the past twefve month& Despfte a rapidly evolvin8 cultural13ndscape ènd the unlque challenges fxed by the arts sector. The Met has continued to thrlve, iMo¥ate. and serve as a VTt31 hub of creatsfft cr￿nMUnIty enBagemenL This year has been one of growth, resilience. arnl renewed commitinent to our mission. We have expanded our pro8rammin& supportrd emergin8 talent, and ensured that our offerings rema￿￿ w￿lU9¥e a￿1 acce55ible to all. From live perfOrMa￿eS to educational worksknps. and from community 0￿reath intliatives to Collaborati￿ K4ith re￿onal and national partners. The Met ha5 reaffirmed its role as a cornerstone of Burfs cultural life. Our achievements are a testsment to the dedication and hard work of everyone involved. I would like to express my gratitude tooui talented staff and volunteers who once again have proved thew kiyaty and passion and make thè Met all that it is, and our perfonners. a￿d￿n￿ and anists who all make The Met such a dynamic pla￿. One of the key themes you will see throughoutthis rewrt 15 the unshakable commitment of the Orgar¢i5ation to continue to Push boundarie5. At The Met, we believe that the arts should inspi￿. thalle￿e. and refiect the diversity of human experfence. To that end, we have contlnued to seek out opportunlties to push the limits of what a communty arts venue can achwe. Whether through bold pro8rammlng cholces Innovative partnership5, or finding new way5 to en8a8e wlth ow community are constsntly striwng to reach new heights. Our commltment to pushin8 boundaries extends be¥￿1 artfisti¢ excellence. This year. we have deepened our efforts to ensure The Met is an inclusive and welcoming space for all. We continue to priLYi￿e db¥ersiry and indusion at every ￿ve1, striving to remove barriers to parfiLipallon and enwring that The Mettruly reftea5 the Yknntand Yaried community we serve. Lookin8 ahead, we are excited about what the future IM)Ids. we enter the next phase of our journey, we remain steadfast in our befief that the arts have a unique power to bring people togett*r. foster ueatsvrty, and promote wellbeing. We arè tommttted to building on the successes of the pa51 year, while continuingto innovate a￿$ res￿nd to the needs of i)ur audien￿5. In closin& I wouhj like to thank èach and every ore of fLY your continued SuppC*t-whet￿r you have attended a perfomance, donated. volunteered, or ￿mplY shared in the eXci￿rnent of The Mefs joumey. Together. we can continue to ¢￿ate an or8anisation that r#)t onty enriches lives but also empowers the next generntion of artists and audience& I commend the annual rewrt and finanoal 5tsternentstoyou forthe year ended 31 March 2024. and in doing 50.1 wish to thank my fellow trustees arKI dirertors wholeheartedty for their gU￿anCe. arxl supportthat have been instrumentsl In steerlng our organi53tion through another succe55ful year. Lynsay Robin50n Chair TRUSTEES, AND DIRECTORS. ANNUAL REPOI FOR THE YEAR ￿DED IWICH 312024 DIREcfoR5 &TRUSTEES H Clayton J Stsples airj Black D E Catterall P Deakin F Healey P Ajohnson OGKnott T Marno P L Mccoy P Patel L RobÉrtfon V Robirfj JAByme J Hargreaves S Rehman G Soave Chalr Resigned 31. December 2023 Treasurer Resigned 9° May 2024 Regw*d f October 2024 Res￿￿ 31" December 2023 Resigned 14° September 2023 Resrgr*d 14 September 2023 Apwxnted 14" December 2023 App(Mnted 14 December 2023 Appointed 14 tlecember 2023 Appointed 14" December 2023 V Robin D A8new Ljones B Baughan C Mcclung N Berry S MeskelkBrc¢ken Chief Executwe Officer Artistic Direct￿ lfreelancel finan￿ Man38er Marketing Manager Technlc31 Manager Events Manager Education & Outreach Manager KEY STAFF REGISTEREO oFF￿AND PRINCIPAL PLACE OF BUSINESS The Met Marketstreet Bury BL9 OBW AUDITORS HGAAccountsrrts & financial ConsuFtsnts Ltd tla Chittendèn Horley Chartered ACCoun￿ts & ststutory Auditors H￿e Park House Cartwright Str￿t SK144EH BANKEAS Barckys l The Rock Central Street Bury BL9 OJN BURY METROPOLrrAN ARTS A88OCIATION TRU8TEE8' AND DNIECTh8' ANNUAL REPChYr FOR THE YEAR ENDED IAARCH 312024 The trustees present their annual report togets T*lth the f•)arKial ststements of the charity for the year ended Marth 312024 which are also prepared to meetthe requirements for a directors. report and accountsfor Ccrfnpanie5 purp05e& The Bury Metropolitan ArtsAssociation IBMAA) 15 referred to asThe Met in these account& REPORTING FRAMEWORK The financial Statements comply with the Charfties A&t 201L the Companies Att x￿6, the Memorandum and Arttcles of A5soclation, and AC￿￿￿ting and Reponln8 by Charities: Statement of Recommended Practlo appllcable to tharities preparin8 their accounts In ac￿rdan with the Financial ReportSn8 Standard appllcable in the UK and Republit of Irdand (FRS1021 leffectlve i January 20191. refeffed to as the Charltles SORP IFRS 1021 {second ed￿On-0CtobÉr 20191. OBJEcnvES AND AcnvmES Charitable obieas he advancement of education by the furtherance of the perfryming arwj M5ual arts and by increasing the acce￿bIlIty of the art5 among the inhabitants of the Mètropofitsn Borough of Bury." This includes the promotion of the èrts in its widest sense. ljoth amatsur and professional. ernbracing all art forms and media. The princip31 activtty is the promotion of an event and worksl¥* program1￿ in Bury at ￿ Derby Hau. kno￿ a5 The Met Our Wision. Mission and Values are setout below. OUR VISION The Met wlll be a nationally recognised cU￿ural or8anisatK)n. acce55ible to ai. cornbini￿our intemational reach with our tocal economk and soclal Fmpatt to make Bury a cultural leader within G￿ter Manchester. OUR MISSION The Met inspire5 excellence In musk and creauwty. ili5 abL¥rt quafrty. openness, and pa￿lOn. We Improve I￿e$ by enabllngacce55 to hlah quallty stiMula￿n8 performance and participation Opp￿tunI￿S whkh ￿lebrate diversity. wellbein& and local pride. OUR VALUES To be Inclusive and to stsy Relevant.. A'safe space.. with StrCfflgWd1￿ a culture of transparency. cdL8boration. and openness to make sp3 for everyone svpportln8 the wellbeing of staff. artist4 audlew parffcipants. and our Irrt31 communiiie5. To be Ambitiou5 and deliver Quality experlenos: We aim to inspire. aimin8 fDr eXcelle￿e in everythingwe do from presentstion to the overall experience and eng3gemertt of ¢ommunity. Aiding arti5tsto discover and develcy theif talent providing experiences aThJ oppOrtun￿e$ to learn, network and perform. We develop staff. pamers. anisE arnl cc4Lqborator& To embrao Dynamism.. Innowi¥e. sullainable. qua￿tyaN￿￿5 in all ow work that is responsl¥e to opwrtunity and Collabora￿n. To conduct our work in consideration of our Environmentsl Responsibility: CO￿1￿1n80ur bu5irEss practI￿S and events svstsirhibty. reyain8 the environmen( reducing the en¥ircrfwnentsl impart of The MeL ouraudiences and associated partners. Publlc benefft In setting our obiecbves. carrying out our activities for ￿ year and I￿kir¥ further ahead. the trustees have consKlered the Charity Commission's guidan￿ on public benefi¢ induding guidance on public benefit and fee charging. The Charity ￿lieS on grants income from fees and charges to cover its operatin8 Costs and non•Tofft work. In setting the ￿e1 of fees, charges and concessions. the trustees we dreful consideration to the accessibllityof the arts forthose on1tr4rf incomes. Con￿bUtiOn of Volunteers Volunteers confjnue to be an inteBral part of the orBani5atKffl and cnKial to our Suc￿$5. Vdunteers primarity assist with the runnin8 of the organisations outdoor work althouEh much of the foc￿ In INS year was our cNe prc*ramme. 37 volunteers ￿lped us to run events dvrlng the year donating 680 hours to the organlsatfjon. C￿1 new ￿lunteer Strate￿ will aid the dwelopment of our volunteers to allow u5 to become more Incluslve and to create accessible career path5 into culture. BURY MEfROPOUTAN ARTS A&80CIATION TRU8TEES' AND DIRECTORS'ANNUAL REPORT FC¥I THE YEAR &4DED IIARCH 312024 ACHIEVEMENTSAND PERFORMANCE The Met conttnues to recelve benefft from publit $c￿rte$ in recognibon of the 4¢lue it bring5 to the arts the borough. with a fifth of our income from public fund5. Bury Council. Arts Councl England and invest in the organisaiiTh) to allow us to continue the breadth of our actNity. In thi5 year we welcomed an in(Tease rn Arts crA￿lI fvnding to ￿er expanding education programme and out of venue programme to enable us to run Head for the Hilts Fellival. In this finarKlal year we were pleased to ccffltinue to receive furKling from the Oglesby Charitable Trust who continued to supply fund5 to support our wider community acbwty. Outreath and edurat*)n *￿rk ccffitinue to be a growing part of our role in our community, and this role has established and developed links wrth education and funders brinwng increased income. expanding our work, and furrher helping to engage our communities. A large P￿￿)rtIon of ow ci>re funding gces towards the c￿treaCh programme and the demand for this work conlinues to increase year on year. Localty. The Mevs CEO Chairs the Bury Business Irnpr[￿￿rnPnt District {BIDI. Mthich impro1￿S investment and pr(Mnotion in Bury centrè. Thi5 also allows for development ot work between the two pathr5 and the Lcol Authority. aidin8 the town centre regeneration and playing an actlve part In placemakir¥. Regionally• The Met continues to be part of the Greater Marthster Muslc Commission which Ilth to improve access to the Indifjtry. The CEO sits on equality and diversity subgroup. I￿￿ft8 to Encrease access for artists and to support irn4ustry professionals. The Met cont(nues to work in partnership with other orKanisation5 to improve and develop pracOses. We are a member of Greater Manchester Good Employment Charter. which looks to improve working conditic￿$ and pay for all members of the team. We continue to be Real Llvin8 Wa8e ernployer, a5 part of ourcommitment to the ¢harter. Twhith is impacting on every element of our HR In a posltfve way. We continue to work wtth Julie's Bicyde to r￿nitOr and Impro¥e our en￿rOnMental perfofflun￿, and we are rolllng out improvements in several arwds, induding efficlent operatton of the t￿rIdIr8 through the Building Management System. Our business plan Tefietts these amblttons, and we have futu￿ decarbonisation plans for the vthole buildin& We are now part of the GMAST network to infomi our leami ad netwo￿1n8 in ths area. The Mevs recording studio has worked developtng and expandin8 its offer to Bury and the wder North WesL New remfonships were f￿d with established local cultural servi￿ provKlers. including Bury Mv5ic Service. supsK>rting under-seNced 16-19s in the area who have a musical interest and BuryArt Gallerfs Rooms to LibE proprt within whKth we were able to 5UPPOrt local musiaan& The Studio contributed to expanding support of young adults and emer8in8artists via the Youth MU￿£ No Barriers project which has supported neurodivergent young people tO83in inwdluable experience of V•Drknn£ in the music industsy. ProjeLts with the LGBTQi+ Arts aThl Culture Netr40rk ￿ tr) artist devekTrpFnent which went on to showcase at Loud this year. Maintaining working relation5hip5 with long5tandingsludio clerrts has 8Nen the studio Iredits on BBCIV and the conlinuinE development of the studio ha5 a150 expanded commercial opporwniiies forThe Met & visitsng artists To engage more young people in the studio. a pop threxperience kiunthed &k)win8 newcixners toThe Metto be irrtrOdu￿d to the theatre. studio facility and Met team. Thi5 ha5 been a succe55ful comrrwcial and cr0554epartment inibative which will continue into the new year. iat you and The Met do is a fantastic and unique experien￿. Well do￿ to you and all involved." 2023 was a perfect stom of difficult trading condkn ￿th1¢h ¢onDrwe to impact on the organisatton in thls cu￿nt year. The cost-of-livir crisis and hl8h inflat*)n Ss Smpathng ￿ our audlences butrinB power. *thile intemally we are dealing significantly in¢￿ased operating costs. The Ilquldatton of our long-term catering partner. Automatic L￿nge in Juty 2023 15 indic3tive of these trading conditioni but It has ven us an opport￿lty to dbversify our income and ÉKpaThl en8a8emEnt in our community. In terms ofaudlence figures. Y￿ have compared to the prewous 12-mnth period. Sfft baseline st3ts (an be found below. Our comparison {Apr 22- Mar 231 Number of bookers: 98521+52.27% Number 0f￿Ckets. 42,4781+82.79%1 Ticket incorne: £560,674.051+63.21%) Average ticketyield- £14.44 1-12.66%) BURY MEfROPOUTAN Affr8 ASSOCIATIOII TRUSTEES. AND DIRECTORS. ANNUAL REPOffr FOR THE YEAR ENDEI IA4RCH 312024 Current period IApr23- Mar 241 Number of bookers .'86561-12.1%1 Number oftickets.. 38,0271-10.5%1 Ticket income.. £626,811.221+10.6%1 Average tic*et Y￿Id. £18.041+20%1 We saw growth in both ticket Income and tid(et yield o¥erthe last six months. thro￿ adjustmentsto wr priang strategy and a higher fjcket price for Burrs Live. We did see a fall in bookers and tickets 501d over the year. The prewus year has been challen8ing for audiences, we know our audience demographic is more rIke￿ to be cath shy. and therèfore more vulnerable to a challenging economic dim3te. That said. our annual pantornime Saw a significant increase in saks on prevKJus year and Continues to grow us a￿lenCeS for the years ahead. Beer Fesknval was another Success. and our core music pro8Yamrne continues to dÈfNer. Farni￿ audien￿ outside of pantonNme have been reluctsnt to book arKI our smallerBigs of ksser-known artists. vthich have 5trtJ8gled being seen as more of a risk for cash Savvy aUdIer￿eS. We have implemented a flexible PfKing model on some ￿rf0m￿￿ces. alongside pay what you feel offers on scrfne new programme, which has been successful in encouragTrng audiences to tAx)k try somethirq w. PwoBramme & Arustr Polky This year the programme ran In response to year one of week pantcrfnwre run. Aladdin. Successf￿ty brirgs together a ￿l￿)ratIon of our values and diversSty within a commerclal projert engaBing over 31D) xhoob ènd famity audiences from thr￿8￿)ut Bury. OF note within the prolect Is a ¢ulturalty diverse cast writh accessible perfomiances prograrnmed as a matter of course. The programme audrt forthe year indicates around of ourwork achieves ourtalent development obiectlves. Thts audit irKludes ttyjring and local work brought to the venue through hire5 and co pronTrxions. (Mrtdoor work in this Y￿r aimed for 5 day5 of activity in Burrs including professional and community parbwship events and our festiyal Head for Hi115. Partnership working towards this programme was problematic- Loud in partnership with Bury Pride was Can￿lled due to poor ticket sales and Head f￿ thè Hi115 51ruggling ticket sales were rther impacted with cancellation of HeadlinersThe PT(Klaimers due to poor health at a peak tithet saje cpportunity. with much of the UK festival market- a particularly wetjune and Juty did notsupportthe ad￿anCe trket saleswe hO￿d for. Parmership conversations while tK)t impacting on the event in 2023 have pro8ressed to strong relatiorship5 we hope to buikl movin8 forward. 5upportin8 our ambition to improve tyansparero. we I￿￿ted t￿7 ueative5 open mornirys resulting in new co tsjrdted Pfoiect work as part of ovr core programme. The year has seen ex￿lIent pro8ressK>n to develop a relevant and accessible programme which has continued into the current yearand athl￿5 our ambibOfLS around qualityand ambition. Educalion and Learnlng Workshop groups and Fbliday Clubs This year saw brand new shows from Youth n￿atr￿$J￿iors and Senk)r8 Aiming trf￿h and Met Express. showcasing the fantsstic creativity of our Yc￿ng people and communlties. Metrojall ha* continu*l to perform temity showcases to appreciative audiences and we have been able to extend Mat Walklats's popular HamKJnlo wcthhop to three groups per week thanks to increased demand. Meet Me at The Met has now been rnnni￿ for overa year and has cLwt6nued to enable Ictal over 50sto experfence a wide range of different artfomis wlth professFoNI artists and practitioner% ran8in8 from photogTrphy, to ￿ra￿¢S and from singire and song wrltlng to pantomime. BURY IAEfROPOUTAII ARTS AS8OCIATI¢ TRusfEES' AND DIRECTI)RW ANNUAL REP¢ FOR ThÉ YEAR &IOED IAARCH 812W24 In May 2023 we were able to add a brand new group to the portfolio. Movers and Shakers. Thls Is an eady yearfs provlslon focu55ng on dance and movement for tkSs and their grown-ups. This grotp has proven Ipry popular with fanNlies and childcare providers alike and was initially funded through the Bury COU￿11 Health Improvement FUTh Our engagement with the Holiday Actlvity and FoL¥l IHAFI proyamrre has continued throughout the year in¢ludin8 deliverin8 a Series of multi-artft>rm wrxk5hops in communty setting5 for the summer holiday. enabling young people who may not usually access provision inThe Met itself to experience parttcipaiion in drama. mwsic and 4rysual arL At Christmas. we %4Ere able to prowde over 75 free tickets to young people for our Pantomime Dick Whitknngton includingthldren with a ￿ariety of SEND ￿e￿$ and children from local refu8ee and asylurn- seeking familie Community. Sector and Pa￿r Engagement Burf5 LIKal Cultural EdiKation Partnership ILCEPI hascixrtln￿I fo de¥Elw> its stratewc focus and links to other se￿￿e5 and governance frameworks wthin the counal. In September 2023 we hosted a stall atthe Bwy Careers event for young people from all local high schools to leam aL￿￿t careers in the creative sector. Duri￿ the year we akn hosted young Feople on a fickstart pl0￿rnent COnd￿ting re5earth into the awts and cultural provision for SEND young people in the boro Our Creative Case for tiversity Steering Group continued to mÈÈton a regular ba515 to 5h3re ideas and devektp projects. Our Hats Crime events have gone from strenRth to strength this year with an expanded programme of three days running in November 2023. This year we had ttendee5 from Philip5 High. The Derby High and HalelwK￿ who eyrienced ￿hOp$ from Bury Hearing Hub, Bury Blind Society. WestandtOBether and the Prwd Trust as well as a w(¥k￿p on leaming ￿￿abIlty led by our own in-house team. We have been working throughout the year on devek)pingwort experierKe opportunibes within the venue. This has included h05ting Year 10 pl8￿ment students from various local scho(As arKI Creatin8tr￿ swported placements fw SEND youn8 people from Bury College and Elrns Bank College as well as a new relationship with Manthester Collegeto atso sUp￿rt their students with work related opportunrknes. Project Work In De￿mber 2022 we recelved the news that Youth MU￿ would be fun(fing a new programme through thelr Incubator strand. The programrne was talled Blueprint and invofved five youre pecyle aged 1&25 tskÉng up a three-morth poid placemerrt induding train1r￿ guest speakers and empl￿abIlIty support with the op￿rt￿lty to prcwamme. produ￿ and prryikne their own gi8 in the venue. Thi5 ran bets¥een Aprll and July 2023 and was a very SUC￿&s1u1 proiectwith of the 8row) nKwI￿0n to otherj(i)s and opportunttfes wlth a real boost to their CV& Seldom Heard Voices concluded In July wlth an (Artdryj pulrrfmarKe from the Friendship Ortle in Pre￿1th fea￿ring the K*)ems and stories that they had Created wbIl￿d Into thelr own and a screening ofa dar￿ fllm made by the BAME Project walking group. Burfs flrst13nkrn parade was a successfvl event ￿7th community lanterrpmakirvd and daKe workshops and a parade through BuryTown Centre to celebrate the festival of liBht across culture& The Met rontinues to be managed by the Chief Executr¥e Officer report*w into the Trn5oe Board. The CEO rnana￿S the day-to-day operations of the bu%ness and supports the Arbstic Direciorto dribe the arti5tK ViSK¥n fcff the organisation. The Trustee 8D3rd 15 fvlty renewed and engaged. The current tx)ard bri￿ addriional diversity. sknlls. and experierKe to the Trustee tea creating a positive challenge to ￿ Organ￿110n's decisiortrmaking processes. The CEO is also a Trustee of the organisation. and this strengthens the link between govemance and operational management Several subgroups meet reÈulady help to guide and challenge the organisation as it delNeis Arts Council England's prioriknes. wtth groups using on Dynamism. EnMronmenL EDI and community incl￿0￿. subgroups are able to tske forward work at pace and make p05ilive impacts on fundin& pro￿arnMe and indUs￿n Oft￿ or8anisatiDn. FINANCIAL REVIEW Overvl•w The ￿rnpany had a deficit ¢)n unrestncted fvnds before transfers for the year of £54.426. Lower than anticapated ticket sales for Burrs Live and the closu￿ ofAutomatrc Louroe adveTrety affected the overall results for the year. How8ver, our subwuent operatton ofthe bars meant we were able to offset some of tho bss arKI rt has given us the BURY IIEfRopoufAN Airr8 APAOCIATION ThUSTEE8' AND DIRECTORS'ANNUAL REpoirr FOR THE YEAR ENDED IAARCH 812024 opportunty to diversfy our In¢￿￿e arthy enhance the offer to people attending our events. Buitdiry on strong partnerships with our funders and across the artistic programme the develop￿￿nt of the educatw)n and learning offer we will be in a much stronger ffnancial position to dearttt defiot in the next financial year. The Trustees have determined that there is a need to hold free reser¥es in the charity to cover unforeseen circumstsnce5 and to allow u5 to take advantsge of devel(yment opportunrbe5. Such unforeseen Circumstan￿ might include 1055es on events. unexpected costs, or loss in funding. We continued to receive the support of the on801￿ Arts Coundl N*ional Pcfftfofio (knnisation fvndln8 whth guarantees £187.(NXI per annum ot income to organlsatkin, and through careful aEnt and cost mawen*nt we can protect against material losses. F undlng from Bury Councll of £48.CW and GMC4 £50,LMIO alsosupportsow ci¥e offer. The Trustees have Calculated that The Met Sh￿￿￿ be aimir* to hdd c£263k in free reseThe& whlch represents enough to cover unforeseen circumstances equating to 3 months of operattn8 costs. v•ind up of the O￿anISatiOn In the event of a cessafjon of fiJndin& or the realisation of b)sses on a Ma1￿ evenL The Trnstees have a plan in place to bulld reserves to the required level rwer the next 5 year5 thro(gh ste•ty inctxne growth and has a manaBeff*nt plan In place to prcrtertthe organisa￿n from high-risk evknts and to protect existsng funding. Wlth the afore-mentioned support the current level of free reserves is £19185(L However. the Tru5tses are mindful of the need to lyjild this up to the agreed reserves revel and wll continue to enswe that the reser￿ is reviewe(l each year prior to the AGM. Golng concffn The Trustees are required to assess whether the use of going(0n￿rn is appropriate. i.e.. the￿ are any material un￿rtaInbe5 related to events or condtlions that may cast s￿nifiCant doubt cffl the ability of the (t•rity to continue a5 a going concem. Tr Tru5tee5 make this assessment in respett of a period of ot least oneyear from the date of auth￿iSatiOn of the ac¢ount& At the date ofapproving these accounts. the have a reasonable expectation that the ¢haAty is a giyng ￿n￿rn and ha5 sufficient cash resources to en3ble It to meet Its Ilablllties as they fall due f(￿ at least 12 months frcmn the date of approval. The Trustees recelve regular UKxlates on The Meys financial perfonnan BURY MEfROPOLITAN ARTS ASSOCIATION TIIUSTEES. AND DIRECTORS. ANNUAL REPORT FOR TrE YEAR ENDED MARCH 312024 FufuRE PLANS We continue to progre55 and ￿e￿knp as an organisalion despite a tOU8h por[￿71 aThl economic dimate. We have good relationships and support with our core funders: Arts Council England. Bury COU￿41 and Greater Manchester Combined Authorivs Culture Porttolio and Oglesby Charitrdble Trust, who are keyfunders of our education worL supportof these funders should not be underestimated and without thelr conttnued supp)rt The Metwould be in a much dIffe￿nt poNtion. Membership of key groups Includln8 the Bury BID. lof *thith the CEO 15 (hair). the Bury Leadership group, Town Centre Advlsory Board, Greater Manchester M￿¢ Commi55ion and Burfs LCEP put us finnty In role of cultural ￿adershIp1 helping to make our town better for r￿re of our com￿lnIty. Our businesses plan is d￿ded into 3 core areas. Creative Impacl Venueand Enterprlse. Each sectton is interlinked. Ambition & Quality. To estsblish partner5hip5 to enable u5 tt) ￿te newwork and de¥ekip artists from dIVe￿e backgrounds. To begin to (knlop a torKept for an opEn call to further diver5tyour prtwrMr*. To begin to embed evaluation throughout the organisatsn using Illuminate. Ji¥ity & gpleiiance To deliver a range of participa￿n experiencesd￿El0plnS tl* uealive & cultural potential of children & young people. We wlll cater for a broad spectrurn of young FeOFle by wovirfH¥a wkle ran8e of w￿kS￿)p5 to encourage different polnts of engagement. This section has three principal areas Audlence Development Educat1￿ & ieaming Attist Development & H4Th ddNery plan Venue Dynomisw To use our board to plan arKI develop the organiwion thrwh traini￿ and recruitment To renew and adapt polity to Ènable the or8ani5ation to respond quickty to change and opportunity. Environment21 Responsibility We aim to athely mon1￿<>ur Consumpt1￿ and wrdste levels and set relevantyear-on-year energy use rodurtion targets. To train all to be Carbon Iternte and en¥ironmentalty aware. SustsinÉng and developing ourtt*re business to suppcrt ourwort InclEwling developing funding and budw to ensure diversified income. reviewing and amendin8 policyto ensure our organi%aticffi is indu5f•E and responsive and remaining agile to enaLqe us to respond to opportunity. BURY MEniopoLITAN Airr8 A880CIATION TRUSTEES, AND DIRECTORS. ANNUAL REpoirr FOR THE YEAR ENDED WARCH 312024 STRUCTURE GOVERfr14NC£ AMD MANAGEMENT Governlng document The Charlty is a company fimited by guarantee and is 8ovemed by rts Menb)rdndum and Artic￿S of Assotiatiffi dated February 9 1988, as amended by special resolution dated 13July 2020. It is registered asa charity with the Charity Commiswn. Members ofthe company The Direaors have the wwer to admit any person or or8arusatK)n to Th*mbership. avwj in addiknon Bury Council 15 entitled to nominate up to six representatives as associate members. three of whom wc¥Jld be eligible for electsn as honornry Offi￿[S or to serve as trustees. the other three have Voting rights at the Annual General meeti￿ The director5 may unanimousty re501ye that it Is in the best interests of the company that a membership should be terniinated. Appointrnent of trustee5 The Diiectors. who are the Trustees, are collea?vety known as the Executi￿ Comnxttee. The Executive Committee consists of the Ch3ir, and vp to fifteen other meM￿r5 elected at the Annual General MeetirK of whom. at least six shall be nominated by group members of the company and three shall be associate members rnm*)ated by the Local Authm. The Executrle Commrttee ha5 the power to cwpt up to six dditional member& The Trustees who served durin8 the year, together with any (hange5 UP to the date of appri>ving thi5 reportare listed on pa8e l. Trustee Ind￿ctiOn and tralnin8 Trustee5 are recruited through open reuuitment, advertised job boards and foruw6. Board members are Intmduced to the organi5atic and inducted by the Chief Executive and Chair. Inte￿$ter1 indTriduals a￿ inNited to attend the next meeting and CO<•pted at the next AGM if appropriate to the need5 of the organisation. Non-voting obser4*ers are all(￿d bYts￿ oreanisation's major funding l)c4Jie5. Board development and training forms an important part of the organisa￿￿'s busine55 plan and tralnlng plan. Where Skills gaps are evident on the Board, Identtfied by annual audlts aThJ appralsal4 tralnln8 In th)se areas ts offered to the current Board before being sought in new members. 8anlsalJon The Execuiive Committee administer5 the Charity and rneets as necessary. v5ualty fi¥E times a year. The board has a fornial structure of SU committees, which take re5ponsibilbty for areas incltyjirwd finaKe. HFL fvn11￿ strategy developmenL environmental Impact, and EDI. the I October 2016, the board voted to appointthe Chief Executi￿ to be a trusteè and a directrf to Streng￿￿n the governance of the organisatsn. The day-to4ay operations of the Charity are the responsibility of the Chief ExecutNe Senior Management Team. to vthom the Trustees have delegated authorlty for operational matters including fina￿. empfi)yThnL busir*55 planning and developmèn( within the overall strate8V a8reed by the Executive Committee. Related parties & ctroperaiion wlth other o18an1sati￿￿d￿thJes The charity has a close relationship with the cultural organi5ations of Bury and aKYG to work wlth other third sector organisath)r15 through its Creative Case Group. Bury Council provide essential Core funding in supportof tt* organi5ation a5 an amenityfor local restdÈnts and the publiG The CourKil activety works with the or8anisallon and takes an active interesi in ts Program￿￿. Pay and remuneration ft* sÈnlor staff The board of directors. who are the tharli￿S tn15tees. and the senior m3nagemert team cornprise the key management personnel of the charity In charge of direaing and controllin& runnin& and operatiry tr* Trull on a day-ttrday basis. All trustees ￿e of thelr ttme freely and no director received remuneration fortheir work on the board in the year. Any connection tretween a trustee or Senior manager of the tharity ￿ryth an artist. production company, contrcted actor, performer, or exhibitor must be di5d05ed to the fijll board of tru5tee5 in the same way as any other contrartual relationship a related party. In the currentyear, such relatsd party transactions were ￿P(￿ted. The pay of the senior stay15 reviewed annualty and r￿malty Inueased In Une wEth Infjatton. In vlew gf the nature of the charity, the directors benchmark agalnst pay levels In other provlnclal theatres of a sIn￿lar￿le run on a simllar basi& TAUSTEES, AND DIRECTORS. ANNUAL RepoRT POR The YEAR ENDED MARCH 812024 TrUSTEES' RESPONSIBILMES IN RELAMON TOTHE FIMANaAL STATEMENTS The trustees (who are also directors of Bury Metropolilan Arts Assc(iation forthe purposes of company lawl a￿ reswnsible for preparing the Tru5tee5' Annual Re￿rt and the financial Strdtements in accordance with appli(able law aThJ United fingdom AccountirE Stsndaids Iunited XinBdom Generally Accepted AccoLmting Practicel. Company law requires the trustees to prepare finaKial sktern￿ts for each financial year. which we a and fair view of the state of affairs of the charitable company arml of the Incoming resources and applic3tion of ￿SOUrceS incI￿ling the Income arKI expenditure. of the charitsble company for that pericMI. In preparirlg these finarKial Staternen￿ the trustee5 are required to: select suitable accountin8 policies and then appty ccfftsistently: obseThe the methods and prI￿lpleS In tr* Charltles SORP IFKS 1021 (second edhlon- October 20191; • make judgements and estimates that are reasonable ènd pruden¢ stste whether appllcable UK kcounting Standards been *olkn*d. subRct to any material departure5 disdosed and explalned in the financial statements: prepare the flnandal ststements on ttr* golrE concern basls unless It Is Inapprrts are from financial transactions. the less likety it is that we would become aware ot non- cijmpliance. Auditing thndard5 3150 limit the audit pr(￿lureS required to idenDfy non-compliance with laws and ￿gulationS to enquiry of the director5 and other management and the InspedKin of reBulatory and legal correspondence, if any. Material misrtatementsthat arise due to fraud can be harderto detect than those thatarise from error as they may inl¥e deliberatr cOn￿alMent or cotlusion. further description Our-wo our reSpO￿lbilItieS is available on rKlards-and- nsibilitie5-for-audlLa the Flnancol Reporting Council's idan Stsndar and- . Tla5 descrfpdon forms part of our auditorfs report. website nsitiili On-Of4￿41tor5-res Useofour r•port Thts report Is made solely to the charitsble companvs members. as a bth. in acu)rdanre with Chapter 3 of Part 16 of the Companies Act 2￿6. Our audit work has been undertaken so that we mi8ht 5tste to the d￿rItable CC¥npan￿5 members those matters we are requlred to state to them in an auditorfs report and for no othef purp(￿. To the fvllest extent permitted by law, we do not accept or assume reSpc￿SIbIlIty to anyone other than the charitable cowyany and the chariti￿e companrfs members a5 a body, for our audit work, for thls reporL or for the opinions we have formed. Naveed Ahmad FCCA For and on behalf ofr. HGA Accountants & Finanaal ConSU￿nts fla Chltternleft Hor Chartered Accountants and Statut¢xyAuditors The Hyde Park House Cartwri8ht Street. Newton MarKhester SK14 4EH Date. 1311212024 13 BURY MEfROPOLrrAN AirrsASSOCIAT1014 STATEMENT OF FINANCIALACTivmES th• I￿0￿8 and kno￿tI FOR THE YEAR ENDED IIARCH 312024 T+Jtsl Total 2023 ￿$￿CeS fr(rn gewatsd f￿xts.. Cvnatiar 335,826 ritable actlNilies 84A97 481999 ot￿rtradi￿ acti4fjties 143325 11,767 155JJ92 526 I￿StMent irLome- b3nk interest &635 6,635 191 TOTAL INC i.ouKn 97,014 IJ09MI 867.542 EXPEIIDITVRE cL￿ts af rnlslr8 fwK15 16,$91 12,993 Experyfjtwe ￿ d•rttstJe acthTldes IX50y8 147249 95,663 U93A60 TOTAL EXPEND17URE L¢Tr.139 147.249 95,663 1,310AIS1 INC(WlEXPEND￿URE) BEF(f(E TRANSFERS 154. (147,2491 1351 {2(￿￿601 f181J54J Tra￿r$ ￿e￿een fvThds 14 NET MOVEMENT IN FUNDS 154.464 {147.2491 1,351 11811549 TOTAL FUNDS: BROUGHT FORWMD 14 293.9￿ I￿7.267 Y.In.734 CARRIED FCIIWA8D 14 2973374 3,IrJ,734 The notss on pages 17 to 27 fomi partof these finantial ststement& 14 BALANCE SHEEf AS AT MARCH 312024 2024 2023 FIXED ASSETS Tar(l￿e Assets Ir47A45 CURRE11rA￿ li 2115)3 Cash at Bank in 524.695 737.19B (REDMJRS Amw)ts fallin8 in ITh ￿ar 39JJ55 NEraMREiifASSEf5 337A43 3204196 CREDffoRS Amounts falliw due in mcfe th3n 762 30,762 N￿A$s￿$ FUNDS Unrestiicted General fund 14 239518 293.980 De5iyJa1edl￿d ReslritLed 14 2,807,267 14 72,487 TOT*LFUNOS 3 173 734 These financlal statements have ljeen prepa￿d In accordance wlth protsislons applKable to companle5 sub]ect to the small companieg regime. The notes on pages 17 to 27 form part of these finarKial Strte￿￿n Awroved bythe Board of Dlrect(X5 WNI aullmth for1s5ue on: And SIgn￿ on thelr behalf by: L Robinson- Direttor & Chair Company registration number.. 2370868 15 BURY MEfROPOLrrAN ARTS ASSOCIATKJN STATEMENT OF CASH FLOYIS ASAT MARCH 312024 2023 Cash wed In watlry adfvldes 16 33 19,538) Caslfflo*s from lTrrtSt1￿ atll¥llre5 InterestaThl 4635 Pur(*0se ￿ ts￿li4e fixed assets Prtteeds (* sale of fthed assets 17071 Payments to xwlre Inb*stments Cash l¥llwe41 In) IrNesttr¥ acUv5tles {UA051 IS16J acltvltles Proceeds frcx7Tr new ￿rroW1r¥S Repayment of bcfrowir IweaseAdeuease) In ¢ash &(ash eqthalert5 In the year 22J18 I20￿54) Cashard ta5he•*alerts ￿￿¥￿10r￿ard 544,749 Cash ar¥1 osheryi¥alents rarrled f(nva Cash arKI tashetyavalerts t{￿1￿ d: Cash at ￿nkand in haNJ 546.813 524.695 524,695 Detalls of the rnovement in netdebt is wven in note 17. The notes on pages 17 to 27 fwm part ofthese financial strtements. 16 ANNUAL REpoKf AND FINANCIAL STATE￿1[5 FOR THE YEAR eNDeo MARCH 31 XI24 I BASIS OF PREPARATION ANDACCOUIITING POiKIES la Basls ot Preparndc4y The financial statements have been prepared: underthe historic cost conventFon: In accordance vrith the Ststement of Recommènded Prattice -Accounting and Reporting by Charities preparin8 their accounts in accordance V*ith the Financial Reporting Stsndard applicable in the UK aThJ Repubfic of Ireland IFRS1021 effective January 1 2019 {second edition - October 20191: FR5102: and the Companie5 Act 2ChJ6. The charity constitutes a pubfic benefit entity as defined by FRSIO2. The accounts are prepared in £ rtedrn& which ￿ the functional currency. Goln8 Concern The Trustees consider that the￿ are material uncertainties abovt the Charivs ability to continue a5 3 goi￿3 wncern nor any significant areas of uncertainty that affect the carrying value of assets held bythe Chority. IbAtyountin8 polkles All income is recognised ono the charrty ha5 eDtitknent to ￿ incLKr*. it ts wthble that the income wlll be recelved the amount of income recelvable Can be rnea5ured reliably. The folknv¥wapplies to p3itularty￿S of Grants. ￿thether of a capltsl or revenue nature. are recognlsed t*knen the d￿rity has entitlement to the fvrwjs. any performance condibon5 have bea) met and it is probable that the Income wlll be rec*ved. Domtlons from Indmduals and other bodies Inot bel￿ olthe nature of a grnntl are ret(Vised when re￿1¥able. Box office re¥eN* and (rther pa￿￿￿ts for perftyM￿¢es are accounted for In the perlod In which the perfomiance takes place, net of distounts and VATvthere c￿r8ed. Other eamed In¢ome is measured at the falr value of the COn￿deratIon retei4*d or receivable for services and goods supplled, net of discounts and VAT, Whe￿ char8ed. Income is only deferred and included in creditors w￿. The income ￿lateS to a future aciountir* perrcrfl: A sales invoice has been raised ahead of the work being carr*d cvjt and there is no contractkFal entidement to income until the work been done: or Not all the terrnts and conditions of the grant been meL i￿luding the incwring of eXper￿lI￿re and the grarrt rDTrlition5 are suth that unspent grant must be refvndeil. Expen(rrture and *recovernble VAT Expenditure is recognised On￿ there is a legal orconStr￿tr*Y (￿li￿tiOn to make a payment to a third party. it is probable tlvt the settlement will be requlred and the amount of the obligation be rhwswed reliab￿. ExFthl1￿re is dassÉfied underthe following actpiity headin85'. Costs of ralsln8 funds irKluding those associated with fvrnlrat5I￿ Xtivitses and manaBin8 investments. ¢JJaritable activrtie5 05ts of undertakingthe vrt¥k ofthe charity. The charlty Is ￿gIstered for VAT and is able to recover some of the input tsx charged as It relates to VATable supplies. Allowable costs are stated net of VAT where charged, irrecoverable VAT is irKluded as a separats charge within 5UPPOrt costs. Dlrect C05ts vthere VAT Is not recoverable are InclLKled WTthin dirett c05t& 17 BURY IAEfROPOLITAN ASSOCIATION ANNUAL REPORT AND FINANCIAL STATrIEIIT8 FOR THE YEAR ENDED IAARCH 312024 Allocatloft of support ¢osts Support Costs are those fvnctions whth assist the wolkof the charity either by SuppOrt￿E the delivery of tharitsble activths or by 5UPPOrting the 8eneration of fund5. They indude property COSt% back-ofTKe functions. stsff costs and professional fee& The ba&5 ofallLKation5 is set out in note 7. Ib Ac¢owDtr8 P￿￿e51{0n11Tr￿ed) Tan8lblefixed assets and (kwe¢l•ti Ind1vldu￿ tixed assets costtng n￿re than £SLKI are capliallsed at cost and are depre(lated. On￿ brouO)t Into use, over theirertlmated useful lfves on 3 stral8ht-line basis as set out below. DepreoatEon rate5 are a5 follows: Premises er the remainirg frfe ofthe *ase 14% pa Theatre & studio equipment Other eqiipment & fi￿Ures Depreciation on the assets formin8 part of capMtsI ryoiect¢omN*nced frcm AWN L 2017. the date the company has determlned thatthev were brought into full use. Trade and other debtors are retognised atthè Sett￿mentamoUnt due, and prepayn*nts are valued at the amount prepaid. Cash at bank and In hand Cash at bank and in hand indude5 cash and 5horttemi lighly liq￿d investmerrts *ith a short maturity ofthree ff￿nths or less from the date of acquisitson or opening of the deposit or similar ￿to￿l Credittjrs and pro¥i5N)ns are recognised where the charity has a present obligation ￿$uh1n8 from a past event that will probabty result in the transfer of fvnds to a thlrd party and the amount due to settle tr* oNl8a￿on can be mewed or estimated reliab￿. Cred￿0T$ and provlslon5 are normally recognised at their setdement amount Hnandal Instruments The charity has only bask financial instrnments. with the exception of the iterest free loans, which are initially recorded at cost subsequentlv rnea5ured at their Settlement value. The interest free loans are intended to be repaid wTlhin the next five years and therefore any adjustment to their carTrinE value woul(F be immaterial. Jud8aneths and key Sources of estimatlon uncertainty The preparation Df the financial ststsments requires ma)a8ement to make j*ments. estimates and a55umptions that affect the amounts reporte(l. These estimate5 and judgerner￿ are continually reviewed and are based cfft e￿erience and other factors. including e￿eCtatIOnS of future events that are believed to be rea50nable underthe CIr￿MStsnCe% 18 ANNUAL REpoirr AND HNANCIAL sfAT&IEpifs FOR THE YEAR ENDED IIARCH 31 W24 Trfal T¢xal 2 DONATIONS Revenue zrants: Arts Q)urKil England BUryc￿lI GMCA A31 102.431 101431 48,7 48.750 44681 286,181 201,112 201J22 Insur3rKe aairn 102.751 102.751 102.751 751 00￿￿￿n$ [Y￿atiO[￿ B wr5 li￿lm4TH BLWY CourKil Ge￿ra1 don*lu 253 31944 19 24.469 25 31944 31.9&3 Total 19 19 ANNUAL REPORT ANO HNANCIAL 8TATEMEKf3 FOR THevEAR ENDED MARCH 312024 3 IrK0￿ FROM oINRifABLE AcrA M￿k aNltheatre Box office 313.(lJ7 287.641 287.641 Theatre hlres 79A54 83,995 Other Income >),651 30￿51 26,748 26718 423,112 Outreath and edwation Worksh 17.772 .1 Edwin Street reLOrf1￿ 5twlo Bury Lantern Pdradè BuryCounal- Hdida¥AalwtyFund B wyC0￿c1- Hate crime Lets tb li 8,7C &71 6.473 6N73 2.748 2,748 Children In Need (Aimi￿ ￿Igher) 8uryCoundl Splrlt NJttst Ne￿Ork Yoth Music 45(Xl i&cw WO St Pthet GddAnS Award 2A47 1847 Royal ExtharEe Playwriting 08lesby VCFA J2,866 32.866 33,781 84,497 26,993 57,622 Bun5 LWHe•J forthe Hilts Tii&2t irKome 59y2 A￿llirytra1fI G￿nI inccffie 25,632 25ffj32 95.174 95J74 There is rK) irKome attritArtatde todesignated in ewth*rsear. 20 BURY MEfROPOLrrAN Airrs ASSOCIAIIOII ANNUAL REPORT AND FINANCIAL sfATaiEpif8 FOR THE YEAR ENDED MARCH 312024 De5ignatsd Tol•l Trt41 41NCIW& FROM OThER TRfvI)ING Acn¥iT Swwr5hlp- arnltt*t StsnltyBar 107.732 JOY.732 Catwing contract Merchandise sales & L*herfthMlraisir* 14.426 21.167 11,767 L¥,526 13J36 48 143.325 11.761 4a526 S Costs C* R￿SlIG FUNDS tArut salaries 8.169 7￿3 7,993 re(1 ((6ts 3.957 JP57 1470 1470 3,530 SuFI￿rt W5ts 91 993 2023 Total UArnstslct•d R*5trfrted T(*al 6CHPATIBLE EXPENIXTURE JKI tI￿tre 897 787.826 787.826 OuIreathz￿ etsat5( iQ)W6 1gJ.222 140,266 f2.443J 88915 230.1 Bun5 iNelH4TH 2.443 Refurt4shrnent 17.696 17 Deweciation cP•rEed to dest8nated funds 1147,2491 117,249 147 745165 290S98 ￿￿703 Ex5￿￿111VTe ttority is ar￿￿￿ed as frllrM5'. Olred Dlrert Sakrk5 Music and theatse 295.2(8 197.188 405,292 Jtreèch arnl ethKation 52J43 74,414 11129 7¥￿7 21978 198364 IW,222 Burrs LiyelH4TH Relurblshment .1 283 731 5CK) 77 2Q22113 Musk athj theatre 184.095 398.875 787,826 (krtreoth arhd e￿rati 51 BurTS LivelH4TH Refuthshment 17. 316 561 J7.696 961 21 ANNUAL REPORT AND FINANCIAL sfATalENTS FOR THE YEAR ENDED MARCH 84 2024 k& Fwthlsl salaths cc6ts 215,414 215A14 Staff WElatedcc6ts 7237 36.783 4041 5418a isoli Ma*etiry costs BOS￿ arnlfAher sub5thpticas In5uTh￿e S8 Q673 5.11 1017 15JJ84 Offi￿& c*herswKrt 8aT*&ueditcard 21665 ILJ9Y iiJ twetiatir*) 88349 147249 399,3J9 23.978 4.315 SLWYt5alaries costs Prthicmal fees 53rJ 6A45 405292 fA17 $05342 SuFPJt salèries costs StaF rdated 184966 710 29.619 1742 BO s￿teM aThJ th wiscripti 563 16J82 5A72 offi￿ &thrsiiyJt(tsts Bad deL* eyrfje B3nk& (fE&rt rdrddtsryE5 M•¥ement actthrts t*FYe(i*i W56 U939 71 393.1 54pyt Sala￿e5 ¢c6ts Prdessithal fees 311 Supkvt ttsts 3rpJllrtedcffl b35i5: tsthttire ¢(6ts Sw4Tht salaries e5tim*du5age e5tim*rfbme 4Ynt Prcy IrreC(weTr￿e VAT laftetanythred att[l￿tiC￿l All othErC￿ts Ha7d ((wnt net & xrythrertaltsibubL esbm*e De￿eda￿C 22 BURY MEfROPOLrrAN Afffs ASSOCIATION ANNUAL REPORT AND FINANCIAL sfATEIIEiifs FOR THE YEAR ENDED thWiCH 312024 8sfAFF INFORMATI)N a Empl￿e1$ Salaries wa8es Ern￿￿*￿5 ￿10￿5 Nl 45V61 387,227 19,220 25.473 No emplofte5 ean￿ more than£to,tOJ rna. irt eitrwpar. The kw rnanagement thrrtyujm￿5e thetntstees aThJswrL¥stsff las set ¢￿0Th pase 11. Not￿￿ recÈlstd remurterdti¢n for their sertyice5 as tr￿￿tee5. The total ernFlw teneffts of ott*r kvy mar4gemertWaE os fdkn*s'. Total em￿￿lert be 25 a%era8e r￿te(Ofern￿offtS, W45 a5 fdluw5:_ 2023 ewe Frt Avei¥e A¥erdeÈ FfE rAmber EmF40 DIr￿t charitsble- artor5 aryl sta8e manage 16 12 17 13 16 9 NEf IlKOMVIEXPENDifuREI BEFORE TRANSFERS Thi5 is stated afkrChar8i￿Icferfltt1l).. A￿￿rt0[5 rèmu￿[311m. 2023 Athit fees AccourtarK¥fees Athice/other sem Opef)tif4g lease rentals DekYeciatiM orr￿1855ets Lo55 on ojsposal 3.220 147.248 180,483 Trustees daiml￿ eyrses C*tsils cf ￿lated ￿mItransacti￿￿ are 8i*n in 2L BURY MEfROPOLITAN ARTS ASSOCIATKXI ANPIUAL REpoKf AND FINANCIAL STATEME14TS FOR THE YEAR ENDED IAARCH 312024 IOTANGIBIE FIXED ASSETS A5 at Awil 12023 Athitims 3.4T2J)47 54q877 155,715 4,168,639 18.040 18.Q40 As at fvtsrch 312024 3.471047 540.877 173,755 4,186,679 As * Awl 12023 chargefort￿￿ar As at Ma￿h 312ff24 514.380 103,703 I,aoi,986 147.248 IOL161 18,934 24.153 533.314 133.856 1.449234 As at Mayth 312024 As * March312023 2023 11 DEBT￿Ls Tradède￿¢￿5 64163 St(Kk Grnnts and inujme reov*PJe 21761 123214 26.3n 33.126 57,748 212.503 2023 12aiEDifoRs fair¥¢ withiith* year 89.419 OtIErtsxes aThJ srxial seujrity Accnwls Is￿6 I￿OMeaN1Rrafftts in Ot￿r C￿ditI￿5 114376 203.178 3L431 Third party resiwrces FinaKe lease (redttcrfs in year 337A70 399,355 13 CREDITORS taifv¥ th kn mryett4n Bury ￿￿11- loan I 14762 l¢762 Bury C(wrtil- lohn 2 2Q( 762 L03r& l & 2 frtyn Bi¥y Q￿r￿lI a￿ interest free. The (th¥ity hxl agreed with the a lormula fu rep4iry ￿ loan5 tosed anrKo1 from 201711& tr in the li8ht c4 r*edtts relxjild {ese￿$ aThJ reCo￿rf[orn rthn&micthe tl* repayment of the loarL 24 BURY IIEfROPOUTAN Arrr8 ASSOCIATION ANNUAL REpoirr AND FINANCIAL sfATrIENf8 F(XI THE YEAR eNDeD MARCH 312024 GeTrEAlknd LWJ991 9W 243J37 L011677 In%*￿d inFI￿￿11￿5 2￿7,351 rJm4841 ij 1147J491 1147249 1660 57 97JTr14 41.916 Iz 127 57 97￿1 18&4ni 5¢733 37￿1 37m 17,1851 117. 97.ts14 73 Uryc￿r￿I. SddL¥n HBwdV(*•5 Bury￿rtern Pam 740 BuryQwrril. 5t4rftArri5tr*t*uk L•ts Dolt rn¢dlAinty F*h) 17M] Garfield Wes GddArts Awjrd The NJfjoNI L(éteryCthnmwAtyFur C*k5brfTrust zn9 IIP79J J7A41 150.7351 7J56 f29.rnj FA 57 97 ANNLIAL REPORT AND FINANCIAL STATWNTS THE YEAR ENDED PAARCH 312tr24 14STATEMENT OF FUNDS I￿￿15b￿*dj Trznsf* Restritted funts released in wioryears We￿ irarsferredts a designa￿d irhEsted infty£d asset furKf to f¢Yfth depretiationthar8es. Restblcted fu)ds BuryCowul- Fkte crime Ogle5byTry￿t Levs CYJ Tuw3rd5 hate uime pyojert Towards costs of outreath marA8er Towards wtyftling da￿¢ dasses foryru¥er thildre To suptrf( Aimtr¥ Pfj8hs￿Qaltsi drama Bmp for ￿8m1[¥ rfiai4ed anthubstir￿W6 pewe NetWOrkn￿ aNI trainiw e¥tnts for Bury based artlsts aThl uÈatS*s To SUPF#YtthE No Barrrer5 prr4ramme. a bespth merthiry w*rnmme for)VLry adults aged 16.25 ￿ar5. In partnÈtshSp with tr* Ra￿1 Exdwrqe Tt*atre on Ncthm Female Voicts pr￿e Tryward5 prThidin8 darte dasses flY￿X￿tr thldren Bbc Chlldren In Need BuryCowul- sF4r￿ Afdst Netw(** Yolrth Music No Barrie Roydl Exchawe Playwrfty Pr￿ett Tre ab￿ will te spert duri￿ 2024125. IS ANPIYSIS OF t4ET ASSEIS BEIWEEt4 FUNDS Fuml bIla￿e5 at P•tsrch ai 2024 TMI a￿ reyesented ipr." Funds Fixed assets 77A27 ZE￿,018 2,Y37M5 Net current assets 73.838 Z66.691 ditN5 due in than one year 130,7621 239518 130.762) 2 973,374 2HI,018 73,838 FurMI bJlarxe5 at lknh 311023 are represemed ty.- Fixed assets 59.3 2,￿7,36? 1 Net current assets 265356 I￿).762} 293 71487 337y3 130,7621 17 CrerfitL¥S in more than 2023 Free ReseTh￿: Net current assets 16 REC&YCIUATK)N OF IN FUK)S TO NEfcAsHFLOW FR