Iii THE MAC (METROPOLITAN ARTS CENTRE) (COMPANY LIMITED BY GUARANTEE) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Contents Page Reference and Administratlve Details Trustees, Report (in¢ludlng the Strategic Report) Independent Audit Report 10-13 statement of Financial Activits'es 14-15 Balance Sheet 18-17 Statement of Cash Flows 18 Notes to the Financial Statements 19-32 THE MAC IMETROPOUTAN ARTS CEKfREI IA COMPANY LIMITED BY GUARANTEE) FINAMCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 REFERENCE AND ADMINISTRATIVE DETAILS Trustees Colm Devine David Gavaghan (resigned 23 June 2023) Raymond Hutchinson (Chairman) Louise O'Boyle Karen Shaw (resigned 14 August 2023) Dorothy Wilson-Longfils (resigned 28 August 2024) Kim Spence Reglst•red office 10 Exchange Street West Belfast BT12NJ Sollcltors Edwards & Co. Solicitors 28 Hill St Belfast BT12LA Bank Ulster Bank Limited 11-18 Donegall Square East Belfast BT15UB Reglstered audltors Harbinson Mulholland Centrepoint 24 Ormeau Avenue Belfast BT2 8HS R•cognlsed a$ a charlty by HM Revenu• and Customs under numbor XR26229 Company number N1022945 Charfty registration number NIC100808 THE MAC (METROPOLITAN ARTS CENTREI (A COMPANY LIMITED B Y GUARAp¥fEE) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 TRUSTEES, REPORT {includlng the Strategic Report) The trustees. who are also directors for the purposes of company law, present their report and the financial statement5 of the company for the year ended 31 March 2024 Structure, Governance and Management Governlng Document The company was incorporated on 26 July 1989 as The Old Museum Arts Centre and changed its name to The MAC (Metropolitan Arts Centre) on 14 October 2010. The MAC (Metropolitan Arts Centrel is a company limited by guarantee with charitable status and is registered under company number N122945. It is accepted as a charity by the Inland Revenue under referen￿ XR26229. The company has been registered with the Charity Commission for Northern Ireland from 3 November 2014 under registration number NIC100808. The charitable objective of the company as stated in its Articles of Association is.. °the advancement of education in Northern Ireland in relation to the arts and in particular by the provision of a Centre for use in instruction in the various arts (visual, perfomiing, musical and literary) and which may also be used for training In any such activities or for the performances, readings or exhibits and so that the policy governing the use of the centre shall not discriminate on the grounds of religion, polltlcal opinion, ra¢e, colour, ethnic origin, sex or age., There have been no amendments to the govemlng document8 in the year. Governance Structure The MAC {Charityl Board is comprised of up to 15 trustees who meet at least 4 times per year. The trustees are also directors of the company for the purposes of company law. The term of office for trustees is 4 years, with the option to seNe a maximum of 2 terms. The Board's key responsibilities include setting out the vision, mission and values of the MAC, agreeing the strategy to deliver the vision and mission, agreeing the charity's governance structure and policies and ensuring the protection of the capital asset. The Charlty has established a wholly owned 5ubsidlary, the MAC Tradlng Company Ltd (Tradeco), a company Ilmited by shares which has a service level agreement with the Charity which provides a licence to Tradeco to carry out artistic programmes and ancillary trading In the building and sets out the commercial relatlonshlp between the trwo companies. Any profits are gifted to the charity in their entirety. The Board has set out the functions of sub-committees, officers, the chief executive and other staff in clear delegated authorities and monitors their perfomiance. In carrying out their responsibilities, trustees remain mindful oftheircommitment to upholding the values ofaccountability to stakeholders, probity and transparency. Sub-commlttees Audit and RiskJFinance and Remuneration and Nominations sub-committees are in place to deal with specific issues as required. The Audit and RisklFinance sub-committee meets monthly with at least 4 of the meetings each year being audit and risk focussed. All members of the sub-committee are non-executive directors. The sub-committee is chaired by the Charity Treasurer who has significant, recent and relevant financial experience. The sub- committee includes two other members from the Boards, neither of whom is the Chair of the Charity. The Remuneration and Nominations sub-committee meets as required on an ad hoc basis All members of the sub-committee are non-executive directors. The sub-committee is chaired by the Charity Chairman, indudes the Chairman of Tradeco and at least bNo other members dravm from the Charity Board one of whom has significant HR skills and experience. THE MAC (METROPOLITAN ARTS CENTRE} IA COMPANY LIMITED BY GUARANTEE) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 ￿RCH 2024 TRUSTEES, REPORT (includlng the Strategic Report) (CONT'D ObJectlve8 and Activltles The MAC aims to contribute to the ongoing transformation of Northern Ireland through the creation of, participation in and appreciation of outstanding art. We seek to achieve this overarching goal by supporting artists in the creation of excellent art and by delivering programmes which make this art accessible to as many people as possible. Our artistic programme aims to entertain, connect people to art, and address social issu88 relevant to the people we work with, and the people of Northem Ireland. In 202312024 we delivered 8 curated programme of artistic events across (i) Visual Art, (li) Creative Leamlng & Engagement and (iiil Live Events which attracted and inspired over 191,000 vlsitors During this year the MAC brought internationally acclaimed artists to Northern Ireland to share their athork with local people, at the same time as plafforming emerging, mid-career and acclaimed local artists. We worked with national partner8 and communities to explore social inequalities and injustices through art and creativity. As we grow back audiences post covid, The MAC 's Audience Development Plan worked towards re-engaging audiences and generating new visitors through our brand led 'Space forlto, campaign. Our nomination as Art Fund Museum of the Year 2024 also gave the MAC a fantastic opportunity to showcase ourselves in a major way, to both old and new audiences, celebrating all that has been achieved in the past 12 years and garnering support and nationwide press coverage highlighting this momentous achievement. An overview of 23124 The MAC has continued rebuilding audience8 afterthe disruption caused by Covid. We anticipated this would take several years. The number of paid ticket bookers for 2023124 is at 850h of pre-covid levels. Sustaining ticket sales at pre-pandemic levels and explored potential for further growth, expanding the MAC'S commitment to access for all. Annual footfall for 2023124 was 191,000 which was slightly lower than the footfall from previous year, however Ron Mueck in 2022 had a huge impact on footfall. The blockbuster exhibition '1 see his blood upon the rose, was moved frorn 23124 to 24125 where we would have seen large numbers through the doors, but we look forward to that impact in the coming year. The MAC is In the buslness of Imaginatlon We value creativity on our stages and galleries and In everything we do. Vlsual Art In 2023124 the MAC presented exhibitions which created significant profile-rai5ing opportunities for Northem Irish artists at a critical stage of their careers including Louise Wallace and Sharon Kelly. We also strength8ned our relationship with our MACtivate Associate Partners.. Participation and the Practice of Rights, Alliance for Choice, The Rainbow Project, Action Mental Health, and Extern through our exhibition and participatory programme around At the Table. We curated a major presentation of intemationally renowned artist Korakrit Arunanondchai, a video and multimedia artist originally from Bangkok who now splits his time be￿een New York and Bangkok. In addition to international relationships developed over 2023124 we also collaborated with our colleagues in the South of Ireland through Niamh Mccann's exhibition 'someone decides, hawk or dove, a commissioned part of the programme for ART'.2023, a Decade Of Centenaries supported by The Arts Council of IrelandlAn Chomhairle Ealaion and the Department of Tourism, Culture, Arts, Gaeltscht, Sport and Media. THE MAC IMETrOPOLITAN ARTS CENTREI IA COMPANY UMITEO BY GUARANTEE) FIIIANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 TRUSTEES, REPORT (including the Strategic Report) (CONT'D) At The Table 7 April - 23 July At The Table brought socially and politically engaged practices into our core gallery programming. It is our first major exhibition developed from MACtivate. The exhibition showcased the work we co-designed with our Associate Partners who work to combat some of society's most pressing issues and inequalities - Alliance for Choice, Action Mental Health, The Rainbow Project, Extern and Participation and the Practice of Rights (PPR). A community table cut through the length of the gallery acting as an invitation to actively participate in the programme - whilst also providing a space for social interaction and communal dining. Loulse Wallace: Midnlght Feast 7 Aprfl - 26 November 2023 This exhibitlon was a significant profile-raising opportunity for Belfast based artist Louise Wallace. Wallace produces work that Is deliberately provocatlve, utilising a palette of lush colour to create images that draw on abstraction and Surrealism to transform the suburban Into scenes that hover betrween the familiar and the uncanny. The exhibition positioned painting as a field of enquiry rather than a medium-speclfic condition. A febrlle sense of colour is instrumental to holding relationships across media and into the gallery space. Wallace's painting practice is reimagined across drawing, collage and three-dimensional objects. Wallace's practice is improvisational., one move generates the next whether the medium is painting, drawing or assemblages. The exhibition Installation was an extension of Wallace's studio where she displays a range of objects and manipulates them to extend the compositional space of painting. Louise Wallace made a number of sales through the exhibition and her work is now in the Arts Council of Northern Ireland, Ulster University and is being conSide￿d for inclusion in the Govemment Art Collection. Wallace's work is currently in the offices of Investec as part of our Art Leasing Scheme. Sharon Kelly." Rod-to-Red 7 Aprll - 26 November 2023 This exhibition was another significant opportunity to present the work of a Northern lrfsh artist created during the Arts Council of Northern Ireland supported Fellovrfship at the British School at Rome where the work was completed over the period of the artists residency. Kally drew on her obseprfances and encounters from her time in Rome and created work, externalty affirmatlve and universally connective in nature. Her sensibility to the body and in particular the fragmented body. the torso and broken gesture featured strongly in works created in response to her original residency period and in the intervening three years. With rts generative force emanating from personal encounters with severe illness and its aftermath, her work also embraced ideas of liminalily and transformation. A marker for warning or impending danger. Red is the colour symbolising authority, or status., generals in the days of the Roman Empire had their bodies painted red to celebrate victory. Red was also the colour of protective amulets. Red may indicate energy, vibrancy - the longest-lasting and most dominant of the colours of the Etruscan tresco wall-paintings. These red figurative images, fragmented over time, depict life, death, and the transitional spa￿. THE MAC (METROPOLITAN ARTS CENTREI (A COMPANY LIMITED BY GUARANTEE) FINANCIAL STATEMEMTS FOR THE YEAR ENDED 31 MARCH 2024 TRUSTEES, REPORT (Includlng th8 Strategic Report) (CONTD) Korakrit Arunanondchal: No History in a Room Filled with People wlth Funny Names 5 29 August 2023 - 26 November 2023 This was the first exhibition in Ireland by Korakrit Arunanondchai, a video and multimedia artist originally from Bangkok who now splits his time between New York and Bangkok. This new exhibition seNes as a reconfiguration of Korakrit Arunanondchai's continuous conversations and collaborations with ￿ artists, Alex Gvojic and Tosh Basco. Opening with the myth of "Ghost Cinema" a tradition in North East Thailand that grew out of remnants from the occupation of the US military during the Cold War. Korakrit Arunanondchai weaves together a story about possession and the dependency be￿een the caretaker and the care receiver. The filmic installation is charged with the idea of community and questions what holds it together- among humans and non-humans. Nlamh Mccann: 'someone d•cldes, hawk or dov•, 8 December 2023 7 Apr612024 'someone decldes. hawk or dove, was a commissioned work by artlst Niamh Mccann as part of the programme for ART:2023, a Decade Of Centenaries supported by The Arts Council of IrelandlAn Chomhairle Ealalon and the Department of Tourism, Culture, Arts, Gaeltacht, Sport and Media. The title of the exhibition 'someone decides, hawk or dove, is a Ilne from the poem Hairline Crack in Belfast poet Ciaran Carson's 1989 collection Belfast Confetti. Hairline Crack is also the title of a film central to this exhibition which comprises of thr8e acts with musical interludes. An eyeless dog guides us through three separate landscapes.. one bucolic, one musicological and one socio-political, in an odyssey along the border region of Northern Ireland. Like a mythological seer, this eyeless dog perceives and interprets obscur8 truths, through philosophical musings on Man's long hubrists-c dominion over beasts, places, people. The exhibition featured a sculpturelstructure Tum Again developed by Niamh Mccann in collaboration with architect Peter Carroll, bespoke seating by architect Peter Carroll, and a commissioned ensemble and specially composed music by Grammy-nominated artist larla O Lionaird (The Gloaming). Work from 'someone decides, hawk or dove, _ or iterations of same - has been shown at the Rudolf-Scharpf- Galerie, Ludwigshafen, Germany (hosted by Wlhelm-Hack-Museum), at Centre Cutturel Irlandais, Paris, StableArts, Washington DC (hosted by Solas Nua), and at The Battle of the Boyne Visitor Centre, Meath, Ireland. 'someone decides, hawk or dove, was curated by Belinda Quirke, Director Solstice Arts Centre. Livo Events Despite ongoing challenges in the sector in 23124, the MAC sought to present an artistically ambitious, innovative, and balanced core programme alongside strategic Festivals and likeminded artistic partners who co-presented or hired the theatre spaces. The programme covered a diverse range of art forms presented in collaboration wlth local, national, and international pariners with programming choices reflecting contemporary artistic practi￿, sectoral, cultural, political, and social issues comprising new and extant work from emerging and established artists and organisations. The programme of work and associated schemes contained a practical commitm8nt to the development of artists and companies across all live event disciplines, at every stsge in their career, providing a plattomi for NS based artists to develop and present their work. Simultaneously, the MAC engaged with and presented work from the national and international arena. Featuring highly was the presentation of theatrical work produced and centred in and ofthe Belfast and Northem Irish experience, including The Daughters of Roisin by Sole Purpose, Billy Boy by Eastslde Arts, Float by Crybaby Productions, 10 Thlngs l Hate about You by Brunswick Productlons, Tribe by Replay Theatre Co, Teechers by Bruiser and Mlkel Murphy's Mysterious Case of Kltsy Rainey. THE MAC IMETROPOLITAN ARTS cE￿￿RE? (A COMPANY LIMITED BY GUARANTEE) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 hlARCH 2024 TRUSTEES, REPORT (includlng the Strategic Report) {CONT'D) Two popular and well received Christmas theatre productions were also Nl produced - family focused The Night Before Christmas, was produced in house and featured in The Stage, top 50 shows in the UK of the year. In the Upstairs theatre Ccurran Productlons lifted adult spirits with Are Yule Belng Served. In contemporary dance we presented Wasteland by the Gary Clarke Company which included a local community cast of musicians and dancers, internationally acclaimed Chotto Desh by the Akram Khan Company and Gutter by Off the Rails. Local dance training opportunities were provided through the SIX Collective and by DU Dance's Unanimous. Comedy at the MAC included Brldget Christle, Mark Thomas, Jenny Éclalr, Keiran Hodgson and Tom Davies. In spoken word, Poetry wlth Prlde celebrating queer writers from Belfast and beyond featuring Sarah Clancy, Mary Montague, Sacha Whlte and Tiegan Johnston was presented as part of Belfast Pride. Musical talent also featured heavily with Nl based Nl Opera staging a Salon Serles of 7 concerts, a dramatically staged concert by Petsr Corry's Thank You for the Muslcals. Contemporary and mainstream audiences also enjoyed concerts from UK and international artists such as Cherlsh the Ladles, Th8 Hlghstool Prophets and Brlana Corrlgan. The MAC supported the devélopmant of Northem Irish artists through schemes providing space, funding, and professlonal support. Through Space to Creato, the MAC provided 30 Ilve event artlsts with over 70 days of free space to facilitate the development of new work. Loulse Matthews, Fergus Wachala-Kelly and Colm Mccreadywere our three HATCH artists, who along with Artlst in Resldence, former Derry Girl Ma, actor and writer, Tara Lynne O'Nelll provided with bursaries, free workspaces in venue and mentoring and advice from MAC staff and associates. The MAC also presented a significant number of multi-disciplinary art form events as part of the Belfast Intemational Arts Festival, the Belfast Children's Fests'val and the Northern Ireland Science Festival programmes. Other Festivals included the Outburst Queer Arts, Belfast Pride, and Belfast Media Festivals. Over the summer months the MAC welcomed youth and communily theatre productions from companies such as New Lodge Arts, Belfast School of Performing Arts, and Ravara Productions. Craatlve Learnlng & Engagomont Thé MAC Creative Learning team focus on three core areas: MAClivate where we use art to address social inequality with associate partners. Growing Up with the MAC which enables babies and children to learn with us. Arts and Peacebuilding study abroad programmes for international universities and groups. MACtivate At The Table, was a participatory co-designed exhibition showcased projects co-designed with our MACtivate Assoclate Partners who work to address social inequalities. To realise this exhibition, we commissioned four socially engaged artists who collaborated with our Associate Partners.. Dumbworld collaborated with Partlclpation and the Practlce of Rights campaigners to Futur• Garden which asked how the needs & rights of humans for shelter can coexist with our need to care for the planet we live on. Sam's Eden Overload by Thomas Wells in collaboration with The Ralnbow Project is a new queer publication project which explored queer visibility in cultural spaces. Actlon Mental Health participants collaborated with visual artist Kerrle Hanna to create images of hope which were presented on billboards during Mental Health Awareness week. Artist and activist Khaled Barakeh addressed the rights of people in the asylum system by collaborating with Participation and the Practice of Rlghts and Anaka Women's Collective. To position this exhibition, we commissioned artist Laura Nelson and Duncan Ross. THE MAC (METROPOLITAN ARTS CENTREI IA COMPANY LIMITED BY GUARANTEE) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 TRUSTEES, REPORT Ilncluding the Strateglc Report) ICONfD) Over the duration of the exhibition 15,680 people visited the gallery., 1500 people participated in workshopsleventsltalkslcommissions exploring social inequality,. 600+ people created and exhibited their art on the community art wall, and 5 chefs living in the asylum system catered for 360 people attending events. Growln wlth the MAC Our Growing Up with the MAC programme was attended by 950 children and their families and delivered by local artists and facilitators. These workshops ranged across visual and performance artforms, including highlights such as comic book drawing, sculpture, drumming, and interactive storytelling. Through our workshops we engaged with themes covered in our exhibitions, as well as themes around the environment, mental health, bullying and social issues. During At the Table. we hosted a kindergarten for families in the asylum system, which was regularly attended by 15 families, and held family-friends, events for Belfast Prlde. We also revived our baby sensory workshops, which have been exceedingly popular since their retum in December. We provided a mix of ticketed and drop-ln workshops and programmed events In collaboration with the Deaf Arts Festlval Nl. We delivered our MAC In a Box programme, facilitating schools to attend and creatively engage with our exhibitions and Christmas show. 181 students participated in our Gallery in a Box programme, exploring our galleries and learning new art skills. 147 students participated in Theatre in a Box, engaging in creative workshops, learning about the MAC, and enjoying our show The Night Before Christm8s. These programmes especially benefitted schools with SEN groups or in areas of socioeconomic disadvantage. Additionally, our Passport to the MAC programme enabled eight schools to attend The Night Before Christmas. removing the barrier of transportation costs. stud abroad Arts and Peacebulldln ro ramme During summer 2023 we delivered Socially Engaged Artmaking in Northem Irgland, a one-month study abroad programme with SUNY Purchase College. Thirteen under-graduate students explored how art has been used to address the Troubles. They met and engaged with local artists, creatives, activists and academics. This opportunity VRS personally and academically transformational for the students. The MAC is in the business of Belfast We will help build Belfast's reputation as one of the world's most creatlve cities. The critical value of social arts spaces In clties, placemaking aspirations has been well researched and arb'culated internationally and has been one of the charity's key function8 in the period. The MAC'S social, economic and cultural impact {placemaking's main considerations) have been evidenced through a series of independent reviews. The MAC is one of Northern Ireland's iconic cultural landmarks and is a valuable capital asset which the Board of Trustees and MAC team protect, maintain and preserve. Each year the building is used by and visited by thousands of people. It is our responsibility to ensure all elements of the building are serviced, maintaingd and safe for everyday use, and protected for the long-term. The MAC continues to review and develop its Sustainability Policy. This year we secured funding to install a building energy monitoring system. This system enables real time monitoring of energy usage including gas, electric and water. Plant and equipment controls updated to reduce running times and reduce costs The MAC became a member of The Gallery Climate Coalition. We partnered with Queens university to facilitat8 5 student placements, who led the organisation in gaining a Green Tourism accreditation River ridge recycling appointed to manage YRste collections, with zero to land fill status THE MAC (METROPOLITAN ARTS CENTREI IA COMPANY LIMITED B Y GUARANTEE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 TRUSTEES. REPORT (includlng the Strategic Report) (CONfD) Publlc fundlng and sustalnabillty Our conts'nued focus is on developing a more commercially resilient model and securing additional funding from trusts, foundations, and private sources. We continue to build unrestricted reserves and secure funds for critical infrastructure repairs and renewals. Cor ora esu ort We continue to 8xpand our relationships and partnerships with Friends of the MAC, donors and sponsors. With their support we create space for thousands of people to imagine, enjoy, participate in, and create art. Public Fundin Our core funders- We are very appreciative of the Arts Council of Northern Ireland and Belfast Cty Council, continued support, enabling us to deliver our mission vision and public purpose. Trusts and Foundations We ara grateful to the Trusts and Foundations who fund us. supporting thousands of artists through artlstlc residencies, commissioning of their work, free space in which to experiment, development funding, mentoring support, and employment. TTUSte88' responslbllltles statement The trustees {who are also the directors of the MAC {Metropolitan Arts Centre) for the purposes of company law) are responsible for preparing the Trustees, Report and financial statements in accordance wrth applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trust8es to prepare financial ststements for each year which glve a true and fair view of the state of affairs of the group and charitable company and of the incoming resources and application of resource5, including the income and expenditure, of the charitable group for that period. In preparing the financial statements, the trustees are required to: select suitable accounting policies and then apply them consistently. observe the methods and principles in the Charities SORP. make judgements and estimates that are reasonable and prudent. state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements., and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial posilion of the group and charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets ofthe group and charitable company and hen￿ tsking reasonable steps forthe prevention and detection of fraud and other irregularities. THE MAC (METROPOLITAN ARTS CEMTREI (A COMPANY LIMITED BY GUAPANTEE) FINANCIAL STATEMEMTS FOR THE YEAR ENDED 31 MARCH 2024 TRUSTEES. REPORT (Including tha Strateglc Report) ICONT'D) Disclosures of infomation to auditors In so far as the trustees are aware at the time of approving our Trustees, Report.. there is no relevant information, being informats'on needed by the auditor in connection with preparing their report, ofwhich the group's auditor is unaware, and the trustees, having made enquiries of fellow directors and the group's auditor that they ought to have individually taken, have each taken all steps that helshe is obliged to take as a director in order to make themselves aware of any relevant audrt information and to establish that the auditor is aware of that inforniation. The Trustees, Report, including the Strategic Report, was approved by the trustees on 3rd September, 2024 By order of the trustees Ray Hutchinson Trustee Colm Devine Treasurer THE MAC IMETROPOLITAN ARTS CENTRE) {A COMPANY LIMITED BY GUARANTEE) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE MAC (METROPOLITAN ARTS CENTRE) Oplnlon We have audited the consolidated financial statements of The MAC (Metropolitan Arts Centre) for the year ended 31 March 2024 which comprise the Consolidated Statement of Financial Activities (including Income and Expenditure Account), the parent charitable company Statement of Financial Activities (including Income and Expenditure Account), the Consolidated Balance Sheet, the parent charitable company Balance Sheet, the Consolidated Statement of Cash Flows and the related notes. These financial statements have been prepared under the accounting policies set out therein. In our opinion the financial statements.. give a true and fair view ofthe state of the group and the parent charitable company's affairs as at 31 March 2023 and of its surplus for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice., and have been prepared In accordance with the requirements of the Companies Act 2006. Basls for oplnion We conducted our audit in accordance with International Standards on Auditing (UK)