2024-03-31-accounts

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OXFORD FILM AND VIDEO MAKERS LIMITED

Operating as FILM OXFORD

COMPANY NO. 2022892 (ENGLAND AND WALES)

A COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE CAPITAL

REGISTERED CHARITY NO. 1041014

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[ST] MARCH 2024

KING LOOSE & CO STATUTORY AUDITORS

ST JOHN'S HOUSE 5 SOUTH PARADE SUMMERTOWN OXFORD OX2 7JL

OXFORD FILM AND VIDEO MAKERS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[ST] MARCH 2024

1

2

3

4

5 5(a)

6

7 - 14

Company Information Directors' and Trustees' Report Statement of Trustees' Responsibilities Auditors' Report Statement of Financial Activities (2024 figures) Statement of Financial Activities (2023 comparative figures) Balance Sheet Notes to the Financial Statements

OXFORD FILM AND VIDEO MAKERS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[ST] MARCH 2024

DIRECTORS' AND TRUSTEES' REPORT

FOR THE YEAR ENDED 31[ST] MARCH 2024

The Directors and Trustees present their report and accounts for the year ended 31[st] March 2024. The charity now operates under the title of Film Oxford. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's memorandum and articles of association, the Companies Act 2006, the Charities Act 2011, 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 – Charities SORP (FRS 102); and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

Legal and Administrative Information

This information is summarised on page 1 of these financial statements.

Objects of the Charity, Principal Activities and Organisation of Our Work

The Charity is constituted as a company limited by guarantee and is, therefore, governed by a Memorandum and Articles of Association.

The Charity's object and its principal activity is that of "advancing the education of the public in the knowledge, understanding and appreciation of film making and allied techniques and, in particular, but without prejudice to the foregoing, by:

a) providing education and training in film and digital media
b) encouraging and supporting film and digital media production c) promoting such productions to the public."

Each year, the Charity commits to working with marginalised groups within the area. It operates and maintains a web base of information and contacts, runs training courses and projects, supports productions, and organises screenings and network events.

The Charity continues to explore new ways of achieving these objectives.

The Charity is organised so that the Trustees meet and converse regularly to manage its affairs. The Trustees, as a body, are represented by the Management Committee.

The organisation operates via a Management Committee that meets every two months, and an Executive of mainly salaried staff. Trustees are elected onto the Management Committee by members of the Company or invited onto the Management Committee by the Trustees themselves. In addition to the six Management Committee meetings during the year, Trustees also attend Executive meetings where appropriate and possible.

In discussion with the Executive, the Trustees will agree on the overall direction of the Charity and make major decisions, while the Executive will deal with the Charity's day-to-day business. The Trustees and Executive update a risk assessment on a yearly basis, and systems are put in place to manage any identified risk – for example, reviewing the risk register is a mandatory agenda item for the Management Committee.

Building a sustainable business model.

In addition to the grant funding Film Oxford received from Oxford City Council, the organisation brought in additional project funding from the British Film Institute, the Arts Council, local charities, plus other small grants. Other income has been generated through primary-purpose trading within the Charity by running adult training courses and commercial trading through Film Oxford Productions Ltd.

2a.

OXFORD FILM AND VIDEO MAKERS LIMITED

DIRECTORS' AND TRUSTEES' REPORT

FOR THE YEAR ENDED 31[ST] MARCH 2024

Development and Achievements

The Trustees consider that the Charity's performance this year has been satisfactory. The Charity maintains its validation and recognition as an official training organisation, working with the community at large. Significant achievements during the year were as follows:

1. Delivering a film and digital media information and advice service through website, telephone and email.

Film Oxford's web presence is key to disseminating information about the charity's services. Film Oxford's social media groups serve to put filmmakers and digital creators in contact with each other. By joining the email list, subscribers receive e-bulletins about upcoming events, activities, and training opportunities; they also receive notice of productions, projects, and events taking place in the area.

2. Enhancing cultural provision in our communities

Film Oxford offered the following in 2023/24:

iCreative – Training for young people aged 15-25 who have not realised their potential through formal education.

a) ‘Going Out, Coming Out . Spaces We Made Our Own , and Twist and Shout. The first two of three training programmes looked at nightlife in Oxford in the 1950s, 60s, and 70s. Spaces We Made Our Own worked with the African Caribbean community, and Twist and Shout with the baby boomers. The programmes supported young people aged 15-25, but also included older people from relevant communities and worked to build ties between generations. Made in collaboration with the Museum of Oxford (MOX). Funding is confirmed for the third programme of the set in 2024/25, and further programmes of this type are planned for 2025/26. (National Lottery Heritage Funding)
b) Christmas Lights Festival. Working with Rose Hill Junior Youth Club and local artists to run a community event as part of Oxford City Council's Festival. Offering creative workshops, lantern making, and a “Wonderous Whale” lantern parade around the estate and providing a community meal. (Nov 2023. Oxford City Council funded)
Shadowlight Artists is a self-directed group of Oxfordshire learning-disabled and autistic artists.
a) In 2023/24, the group ran the ‘Journeys’ project, in which Wendy Belcher, Tom Breach, Richard Hunt, and Danny Smith created new films and artwork for an Exhibition both at the Old Fire Station and online , funded by the Arts Council and others. Wendy’s film was called ‘My Dogs’, Tom’s ‘Frustratingly Independent’ and Danny’s ‘Finding Trixie’. All four artists also produced canvases and other framed artworks for the exhibition, and Richard produced a video about his creation of over 30 canvases and other 2D works over six months.
b) The group showed films at several international festivals, including two group productions and one by Mark Hemsworth at the Oska Bright International Film Festival. In addition, Lucy Skuce’s film ‘My Cameras’ won a top award, which she collected in person. Three films were selected for Reflection of Disability in Art International Festival based in Greece, and there were other UK festival screenings.

Rose Hill TV/ Film Under the Stars – Working with RHJYC, we ran a series of creative workshops and film activities for young people in the summer school holidays, including an outdoor screening in Rose Hill to over 150 local residents, screening a popular family feature with the young people’s films. (July 2023 – Awards for All).

2b.

OXFORD FILM AND VIDEO MAKERS LIMITED

DIRECTORS' AND TRUSTEES' REPORT

FOR THE YEAR ENDED 31[ST] MARCH 2024

3. Networking Groups

Open Screen continued as hybrid in-person and online meetings for filmmakers, offering the opportunity to screen and discuss completed films or works in progress. The Screenwriters' Group, a peer support group for local screenwriters, also continued to meet weekly online to support new and up-and-coming talent.

4. Training Courses

Take-up of courses in 2023-24 remained stable, with 181 learner attendances across 16 in-person and 12 online courses bringing in £28k. However, the uptake of in-person classes was lower than expected, which is attributed to the cost-of-living crisis impacting travel and accommodation costs. Following changes in uptake during the Spring and Summer, the decision was made to remove some less-popular in-person courses and continue with a more focused offer. Numbers have yet to return to pre-COVID levels, but profits remain healthy.

5. Trading within the Charity and Film Oxford Productions Ltd

Film Oxford Productions, Ltd (FOP) is Film Oxford’s wholly owned subsidiary company, which was formed in 2022/23 and continued to trade in 2023/24. It exists to conduct non-primary-purpose trading (i.e. commercial trading) and to return any proceeds to the Charity to fund its work. The company had turnover in 2023/24 of £27k, with a surplus after direct costs of £14k, which surplus was returned to the parent charity, in accordance with the company’s purpose.

Risk Assessment

The main risks identified are in relation to:

a) Funding

Core funding from Oxford City Council continues to be reduced each year. It is hoped that the charity's production wing will bring in a regular unrestricted income that will cover this shortfall. We are now looking to develop more long-term project funding partnerships with the Arts Council, National Lottery and the BFI for work we do with artists with learning disabilities, young people and others in the community.

b) Premises

Film Oxford will relocate to a purpose-built “creative hub” in the re-development and refurbishment of East Oxford Community Centre, remaining as council tenants. Building work commenced in 2024; we hope to move in late 2025. This move to a more prominent location with a highly increased footfall will present us with many more opportunities. Once the contract with Oxford City Council is finalised, we will seek transitional funding to support the move, and new development funding to grow our charitable work.

c) Aims and Objectives

The pressure on core funding demands a refocusing of the organisation, and this process is ongoing. The Trustees continue to give considerable support by taking on specific roles and helping the Executive focus on developing training, project and production work that is fully funded or incomegenerating. We continue to update and implement the Film Oxford Strategy document with annual targets to ensure the organisation is sustainable.

d) Staffing

With reduced funding opportunities and increasing costs, trustees have agreed upon a rationalisation plan for the Charity in the current challenging UK funding climate. This plan focuses on efficiency savings, including a voluntary staffing realignment to begin in early 2024-25 whilst still delivering the key charitable outputs sustainably. Film Oxford’s established pool of experienced freelance professionals is key to delivering this plan.

2c.

OXFORD FILM AND VIDEO MAKERS LIMITED

DIRECTORS' AND TRUSTEES' REPORT

FOR THE YEAR ENDED 31[ST] MARCH 2024

Future Plans

Film Oxford's strategy focuses on delivering work that supports communities, particularly disadvantaged young people and disabled people in Oxfordshire.

As the relocation plans advance, we expect to build many new partnerships and work with more communities as part of this flagship Oxford City Council development at East Oxford Community Centre.

Transactions and Financial Position

The statement of financial activities shows, in respect of unrestricted general funds, net outgoing resources of £32,476 for the year (2023: outgoing resources £7,693), and the general fund balance carried forward stood at £85,480.

Finances and Reserves Policy

The attached financial statements show the current state of the finances which the Trustees consider to be sound.

Film Oxford is funded by both grants, restricted and unrestricted, and earned (including course) income, to enable it to pursue its principal activities. If there were to be a gap in grant funding it is likely that Film Oxford would have to run down existing projects and courses whilst maintaining an ongoing provision of premises, staff and other support costs. The Trustees have agreed to keep a certain level of financial reserves and fixed assets to ensure that main operations can continue for a period of 3 months and cover redundancy costs if necessary. The reserves have been built up from the unrestricted income and the level of reserves is monitored and reviewed on at least an annual basis by the Trustees. This policy will also be reviewed whenever there are significant changes in staff hours or numbers, or if there should be a change in premises or other significant shift in risk.

Designated Fund

The Designated Fund was money put aside to cover the expected shortfall in funds for both costs related to the running of the charity and for activities for beneficiaries in 2023/24. This has now been released.

Tangible Fixed Assets for Use by the Charity

Details of movements in fixed assets are set out in the notes to the accounts; none of the assets are believed to be valued at a materially different sum from that reflected in the accounts.

Public Benefit

The trustees have reviewed the Charity’s objects and activities and are of the view that the public benefit test continues to be totally satisfied. In forming this opinion, the trustees have considered the guidance issued by the Charity Commission with regard to public benefit.

Directors and Trustees

All Directors of the Company are also trustees of the Charity, and there are no other trustees. All of the Trustees named on page 1 served during the year. The Board has the power to appoint additional Trustees as it considers fit to do so.

Audit Information

In so far as the trustees are aware:

(a) there is no relevant audit information of which the charity’s auditors are unaware; and
(b) the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.

2.d.

OXFORD FILM AND VIDEO MAKERS LIMITED DIRECTORS' AND TRUSTEES' REPORT FOR THE YEAR ENDED 31[ST] MARCH 2024

Auditors

King Loose & Co have agreed to offer themselves for re-appointment as Auditors to the Charity.

Small Company Provisions

This report has been prepared in accordance with the small companies’ regime of the Companies Act 2006.

Approval

This report was approved by the Board of Directors and Trustees on …………………………… 2024, and signed on its behalf by:

……………………………………..

Trustee and Director

OXFORD FILM AND VIDEO MAKERS LIMITED

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31[ST] MARCH 2024

The Trustees are required by law to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity, and of its results for that period. In preparing those financial statements, the Trustees are required to:

Select suitable accounting policies and then apply them consistently;
Observe the methods and principles in the applicable Charities SORP;
Make judgements and estimates that are reasonable and prudent;
State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity, and to enable them to ensure that the financial statements comply with the Companies Act 2006, the Charities Act 2011, the Charity’s Memorandum and Articles of Association, and the relevant Charities’ SORP. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

By Order of the Board of Directors and Trustees

……………………………

Trustee and Director

INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF

OXFORD FILM AND VIDEO MAKERS LIMITED FOR THE YEAR ENDED 31[ST] MARCH 2024

Opinion

We have audited the financial statements of Oxford Film and Video Makers Limited (the “Charitable Company”), for the year ended 31[st] March 2024, which comprise the statement of financial activities and summary income and expenditure account, the balance sheet and notes to the financial statements, including a summary of 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:

give a true and fair view of the state of the Charitable Company’s affairs as at 31[st] March 2024 and of its income and expenditure for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
have been prepared in accordance with the requirements of the Companies Act 2006.

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 directors'/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 12 months from the date that the financial statements are authorised for issue.

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

Other information

The directors/trustees are responsible for the other information. The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. 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.

In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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:

the information given in the trustee’s report, which includes the director’s report prepared for the purposes of company law, and for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the director’s report included within the trustees’ report has been prepared in accordance with applicable legal requirements.

4.a.

INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF

OXFORD FILM AND VIDEO MAKERS LIMITED FOR THE YEAR ENDED 31[ST] MARCH 2024

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors’ and Trustees’ Annual 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:

adequate and proper accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of director’s/trustees’ remuneration specified by law are not made; or
we have not obtained all the information and explanations necessary for the purposes of the audit; or
• the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies exemption in preparing the directors report and from the requirement to prepare a strategic report.

Responsibilities of the trustees

As explained more fully in the trustees’ responsibilities statement set out on page 3, 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 they 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.

Our 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 extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

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

ensuring that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognize non-compliance with applicable laws and regulations, which we had identified through discussions with management, and from our commercial knowledge and experience of the entity.
we focused on specific and relevant laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the entity.
we assessed the extent of compliance therewith.

4.b.

INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF OXFORD FILM AND VIDEO MAKERS LIMITED FOR THE YEAR ENDED 31[ST] MARCH 2024

We assessed the susceptibility of the entity's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud, and;
considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations

To address the risk of fraud through management bias and override of controls, we: - performed analytical procedures to identify any unusual or unexpected relationships and investigated the rationale behind significant or unusual transactions.

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

agreeing financial statement disclosures to underlying supporting documentation;
enquiring of management as to actual and potential litigation and claims and reviewing any correspondence with relevant regulators.

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 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 for the audit of the financial statements is located on the Financial Reporting Council’s website at: [www.frc.org.uk/auditorsresponsibilities]. This description forms part of our auditor’s report.

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 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.

St John’s House Heather C. Fanthome (Senior Statutory Auditor) 5 South Parade King Loose & Co Summertown Statutory Auditors Oxford OX2 7JL

King Loose & Co is eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006.

OXFORD FILM AND VIDEO MAKERS LIMITED

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31[ST] MARCH 2024

SUMMARY INCOME AND EXPENDITURE ACCOUNT

Unres-
Desig-
tricted
nated
Funds
Funds
Note
£
£
Income and Endowments from:
Voluntary Income
2
30,221
-
Activities for generating funds
54,606
-
(Own Income-Production)
Investment Income
2,062
-
Government Tax Relief
-
-
Cost recharges
17,443
-
__
_

Total Income
104,332
-
_
_

Expenditure on:-
Costs Incurred in Furtherance
of the Charity’s Objects
3
153,573
-
_
_

Total Expenditure
153,573
-
_
_

Net (Expenditure) for
the year before Transfers.
(49,241)
-
Transfers between Funds
4
16,765
(10,000)
_
_

Net Movement in Funds
16
(32,476)
(10,000)
Total Funds B/Fwd
117,956
10,000
_
_____
_
Total Funds C/Fwd
15
85,480
-
======
======
=

Res-
Total
tricted
Funds
Funds
2024
£
£
71,208
101,429
-
54,606
-
2,062
-
-
-
17,443
__
_
71,208
175,540

71,153
224,726

71,153
224,726

55
-
(6,765)
-

(6,710)
(49,186)
28,384
156,340

___
21,674
107,154
=====
======

There were no other recognised gains or losses in respect of 2024, other than those reflected in the statement of financial activities.

Comparative figures are provided on page 5a.

The notes on pages 7 to 14 form part of these accounts.

5(a).

OXFORD FILM AND VIDEO MAKERS LIMITED

STATEMENT OF FINANCIAL ACTIVITIES (COMPARATIVE FIGURES)

FOR THE YEAR ENDED 31[ST] MARCH 2024

SUMMARY INCOME AND EXPENDITURE ACCOUNT

Unres-
tricted
Funds
Note
£
Income and Endowments from:
Voluntary Income
2 49,746
Activities for generating funds
104,012
(Own Income-Production)
Investment Income
1,041
Government Tax Relief
8,522
Cost recharges
7,377
__

Total Income
170,698
_
_
Expenditure on:-
Costs Incurred in Furtherance
of the Charity’s Objects
3 204,883
_

Total Expenditure
204,883
_

Net Income/(Expenditure) for
the year before Transfers.
(34,185)
Transfers between Funds
4
26,492
_

Net Movement in Funds
16 (7,693)
Total Funds B/Fwd
125,649
____

Total Funds C/Fwd
15 117,956
======
=

Desig-
Res-
Total
nated
tricted
Funds
Funds
Funds
2023
£
£
£
-
53,792
103,538
-
-
104,012

-
-
1,041
-
-
8,522
-
-
7,377
__
_

-
53,792
224,490

_

-
37,657
242,540

_
-
37,657
242,540

_
-
16,135
(18,050)
(5,000)
(21,492)
-

_
_
(5,000)
(5,357)
(18,050)
15,000
33,741
174,390

_
____
10,000
28,384
156,340
=====
======
======

There were no other recognised gains or losses in respect of 2023, other than those reflected in the statement of financial activities.

Please note the above figures are in relation to the year ended 31[st] March 2023 throughout.

The notes on pages 7 to 14 form part of these accounts.

OXFORD FILM AND VIDEO MAKERS LIMITED

BALANCE SHEET AS AT 31[ST] MARCH 2024 (COMPANY NUMBER 2022892)

Note £ Fixed Assets Tangible Assets 8 Investments 9 Current Assets Stocks 10 200 Debtors 11 10,600 Cash at Bank & Building Societies 104,230 _ 115,030 Creditors: Amounts falling due in one year 12 15,472 _ Net Current Assets Total Assets less Current Liabilities Capital Unrestricted Funds - General 16(a) Designated Funds 16(b) Restricted Funds 16(c)	2024 £ £ 7,586 10 216 21,787 135,969 _ 157,972 12,067 _ 99,558 _ 107,154 ====== 85,480 - 21,674 _ 107,154 ======	2023 £ 10,425 10 145,905 _ 156,340 ====== 117,956 10,000 28,384 _ 156,340 ======

Approved by the Board of Directors and Trustees on ……………………………… 2024, and signed on its behalf by:

……………………………………… Trustee and Director

The notes on pages 7 to 14 form part of these accounts.

OXFORD FILM AND VIDEO MAKERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] MARCH 2024

1. Accounting Policies

(a) General Information

These financial statements have been presented in Pound Sterling as this is the currency of the primary economic environment in which the charitable company operates.

(b) Basis of preparation

The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes(s) to these accounts. The financial statements have been prepared 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 (FRS 102) – Charities SORP (FRS 102); and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Charities Act 2011 and the Companies Act 2006.

The Charity constitutes a public benefit entity as defined by FRS 102.

The charity has taken advantage of the exemption to prepare a cash flow statement on the grounds that it is a small charity.

(c)

Activities

The financial statements include the results of the charity's operations as described in the directors’ and trustees’ report and all of which are continuing.

(d) Revenue Recognition

(i) Rendering of services

When the outcome of a transaction involving the rendering of services can be estimated reliably, the Company recognises revenue associated with the transaction by reference to the stage of completion of the transaction at the end of the reporting period. The outcome of a transaction can be estimated reliably when all the following conditions are satisfied:-

a. the amount of revenue can be measured reliably;
b. it is probable that the economic benefits associated with the transaction will flow to the entity;
c. the stage of completion of the transaction at the end of the reporting period can be measure reliably; and
d. the costs incurred for the transaction and the costs to complete the transaction can be measured reliably.

Revenue for support services is therefore recognised proportionally over the performance of the service contract.

(ii) Grant Income

Grants and donations are accounted for when receivable by the charity, subject to any deferments as explained below. Grants and donations are considered as receivable when the charity becomes entitled to the income and the amount receivable can be measured reliably.

(iii) Investment Income

Investment income is accounted for as receivable, i.e. in the period in which the Charity is entitled to receipt, and the amount of income can be measured reliably.

7(a)

OXFORD FILM AND VIDEO MAKERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] MARCH 2024

1. Accounting Policies (continued)

(e) Deferred Income

Incoming resources are deferred when the conditions upon which they may be recognised as income are not yet satisfied.

(f) Expenditure recognition

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be reliably measured.

Expenditure is included on an accruals basis and has been classified under headings that aggregate all costs related to the category. Costs incurred in relation to the provision of facilities are regarded as support costs for the Charity’s activities.

(g) Operating Leases

Rentals applicable to operating leases where substantially all the benefits and risks of ownership remain with the lessor, are reflected in the statement of financial activities as incurred.

(h) Value added tax

Value added tax is not recoverable by the charity, and as such is included in the relevant costs in the statement of financial activities.

(i) Donated services

Where services are provided to the charity as a donation that normally would be purchased from suppliers, this contribution is included in the financial statements at an estimate based on the value of the contribution to the charity.

(j) Tangible Assets and Depreciation

Tangible assets are initially recognised at cost which is the purchase price plus any directly attributable costs. Subsequently tangible assets are measured at cost less accumulated depreciation and impairment losses.

Depreciation is provided on assets to write off their cost over their estimated useful lives. The rates currently in use are:-

Video equipment	-	30% reducing balance
Other equipment	-	25% reducing balance
Restricted fund equipment	-	50% straight line basis

(k) Stock

Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

7 (b).

OXFORD FILM AND VIDEO MAKERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] MARCH 2024

1. Accounting policies (continued)

(l) Financial Assets – Classified as Basic Financial Instruments

i) Cash and cash equivalents. Cash and cash equivalents include cash in hand, deposits held with banks, and other short term highly liquid investments with original maturities of three months or less.
ii) Trade and other receivables. Trade and other receivables that are receivable within one year are measured at the undiscounted amount of the cash expected to be received, net of any impairment.
iii)Trade and other payables. Trade and other payables that are payable within one year are measured at the undiscounted amount of the cash expected to be paid.

(m) Fund accounting

The charity has balances on restricted, unrestricted and designated funds.

Unrestricted funds comprise those funds which the trustees are free to use in accordance with the objects of the charity, as defined in the constitution.

Designated Funds are those monies set aside, out of otherwise unrestricted funds, to cover specific purposes and projects.

Restricted funds were those funds given for particular purposes and projects.

(n) Going Concern

The financial statements have been prepared on a going concern basis.

The current economic conditions present increased risks for all businesses. In response to such conditions, the trustees have carefully considered these risks, including an assessment of uncertainty on future trading projection for a period of at least 12 months from the date of signing the financial statements, and the extent to which they might affect the preparation of the financial statements.

The Trustees consider that the going concern basis remains appropriate.

(o) Group Accounts

The charity has a 100% subsidiary – Film Oxford Productions Ltd.

The charity has taken advantage of the exemption contained in Section 398 Companies Act 2006 to produce consolidated accounts.

OXFORD FILM AND VIDEO MAKERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[ST] MARCH 2024

2. Voluntary Income - Operational Grants

Unres- tricted Funds £ A.C.E. - Heritage Lottery - Oxford City Council:- - Operational Grants etc 22,300 Other Donations / Workshops/subsidies 2,826 Oxfordshire Community Foundation - British Film Institute 5,095 RTR Foundation - Shadowlight Artists - Awards for All - _ _ 30,221 ====== =	Res- Total tricted Funds Funds 2024 £ £ 1,553 1,553 43,689 43,689 8,450 30,750 2,180 5,006 - - - 5,095 5,500 5,500 9,836 9,836 __ _____ _ 71,208 101,429 ===== ====== =	Unres- tricted Funds £ - - 25,000 2,901 9,955 11,890 - - _ 49,746 ===== =	Res- Total tricted Funds Funds 2023 £ £ 28,148 28,148 23,280 23,280 - 25,000 2,364 5,265 - 9,955 - 11,890 - - - - __ _____ 53,792 103,538 ===== ======	Total Funds	Total

There was no external income for the Designated Fund in 2023/24 or 2022/23.

OXFORD FILM AND VIDEO MAKERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[ST] MARCH 2024

3. Costs Incurred in Furtherance of the Charity’s Objects

Unres- tricted Funds £ Provision of Educational Facilities Teaching Fees, Materials and Production Costs 13,557 Freelance Fees & Prod’n Work 9,169 Provision of Study Environment Property Expenses 8,913 Equipment Repairs & Renewals 1,716 Depreciation etc 2,839 Insurance 2,905 Stationery and Supplies 5,220 Activity Support Costs Salaries & Office Cover 92,450 Telephone, Fax, e-mail 2,226 Travel Costs 357 Sundry Expenses 2,161 Advertising/PR 1,594 Legal/Prof. Exps. 9,692 Bad Debts 548 Bank etc charges 496 _ _ 153,573 ====== =	Res- Total Unres- tricted Funds tricted Funds 2024 Funds £ £ £ 19,297 32,854 16,808 14,732 23,901 39,929 - 8,913 8,705 - 1,716 2,939 - 2,839 3,939 - 2,905 2,723 - 5,220 5,272 37,124 129,574 107,634 - 2,226 1,429 - 357 748 - 2,161 1,749 - 1,594 3,299 - 9,692 9,179 - 548 - - 496 530 __ _ _____ _ 71,153 224,726 204,883 ===== ====== ====== =	Res- Total tricted Funds Funds 2023 £ £ 19,657 36,465 - 39,929 - 8,705 - 2,939 - 3,939 - 2,723 - 5,272 18,000 125,634 - 1,429 - 748 - 1,749 - 3,299 - 9,179 - - - 530 __ _____ 37,657 242,540 ===== ======	Total Funds	Total

There were no costs attaching to the Designated Fund in 2023/24 or 2022/23.

10.

OXFORD FILM AND VIDEO MAKERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[ST] MARCH 2024

4. Transfer Between Funds

Elements of unspent and unallocated restricted fund income, for various projects, has been transferred to Unrestricted Funds by way of contributions towards room and equipment hire specifically, with a smaller contribution towards general overheads. These transfers were with the full agreement of the donors of the restricted funds.

Additionally, during the year, a release was made from the Designated Fund, to Unrestricted Funds, of £10,000.

5.

Staff Costs	2024	2023
	No	No
The average number of permanent personnel
employed by the Company during the year was:
Educational and Supervisory (full time equivalent number)	5.25	5.25
	======	======
The aggregate payroll costs of these employees	£	£
were as follows:
Salaries	121,708	118,030
National Insurance Costs	4,818	5,140
Pension Costs	3,048	2,464
	_	_
	129,574	125,634
	======	======

No employee received emoluments above £60,000 during the years under review.

None of the Trustees are remunerated.

Cost recoveries income includes £14,252 (2023: £6,767) in respect of salary costs.

6. Statutory Disclosures

6. 7.	Statutory Disclosures 2024 2023 £ £ Trustees/Directors Remuneration Nil Nil Depreciation of Tangible Fixed Assets - owned by the Charity 2,839 3,939 Auditors’ Remuneration - audit 1,600 1,500 - other services 2,216 2,142 ====== ====== Interest Payable and Similar Charges 2024 2023 £ £ Bank and PayPal/Worldpay Charges 496 530 ====== ======	2023
		£ 530 ====

11.

OXFORD FILM AND VIDEO MAKERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[ST] MARCH 2024

8. Tangible Fixed Assets

Video Equip £ Cost Balance 1stApril 2023 108,954 Additions - Disposals - _ Balance 31stMarch 2024 108,954 ====== Depreciation Balance 1stApril 2023 104,324 Charge for Year 1,387 Released on Disposals - _ Balance 31stMarch 2024 105,711 ====== Net Book Value at 31st March 2024 3,243 ====== Net Book Value at 31stMarch 2023 4,630 ======	Office & General Equip Total £ £ 17,239 126,193 - - - - _ _ 17,239 126,193 ====== ====== 11,444 115,768 1,452 2,839 - - __ _____ 12,896 118,607 ====== ====== 4,343 7,586 ====== ====== 5,795 10,425 ====== ======	Total

All tangible fixed assets are used directly for charitable purposes in the furtherance of the Charity's objectives.

9. 10.	Investments 10 Ordinary Shares, being 100%, of £1 each in Film Oxford Production Limited, at cost == Stock Stock of Consumable Materials ==	2024 £ 10 ==== == 2024 £ 200 ==== ==	2023
			£ 10 ==== 2023
			£ 216 ====

12.

OXFORD FILM AND VIDEO MAKERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[ST] MARCH 2024

11. 12.	Debtors 2024 2023 £ £ Trade Debtors - 548 Prepayments and accrued income 2,528 2,355 Amounts due from Subsidiary 8,072 18,884 _ _ 10,600 21,787 ====== ====== Creditors: Amounts Falling Due in One Year 2024 2023 £ £ Trade Creditors 3,002 3,651 Accrued Expenses and Deferred Income 9,928 6,179 Taxation and Social Security 2,542 2,237 _ _ 15,472 12,067 ====== ======

13. Reconciliation of Movements in Shareholders' Funds

Oxford Film and Video Makers Limited, being a company limited by guarantee and a registered Charity, has no shareholders; it is, therefore, inappropriate to include a reconciliation of the movements in shareholders funds.

14. Share Capital

Oxford Film and Video Makers Limited is limited by guarantee and does not have a share capital.

15. Analysis of Net Assets between Funds

Analysis of Net Assets between Funds
Unrestricted Funds - General Designated Funds Restricted Funds	Tangible Fixed Assets £ 7,586 - - _ _ 7,586 ====== =	Inves- tments £ 10 - - ______ 10 =====	Net Current Assets Total £ £ 77,884 85,480 - - 21,674 21,674 _ _ 99,558 107,154 ====== ======	Total
	__ =
			_ =

13.

OXFORD FILM AND VIDEO MAKERS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] MARCH 2024

16. Funds

(a) Unrestricted General Funds

These funds are the free reserves of the charity.

Unrestricted General Funds These funds are the free reserves of the charity.
	£
Balance brought forward	117,956
Net (outgoing) unrestricted funds for the year	(32,476)
	______
Balance carried forward	85,480
	======

(b) Designated Funds

To protect the viability and continuation of certain projects the Designated Fund was created in the 2020/21 and 2021/22 years by transfers from Unrestricted Funds, value £15,000. This was reduced to £10,000 in the 2022/23 year, and has now been fully released.

(c) Restricted Funds

Restricted Funds
Shadowlight Artists Protest & Progress Rose Hill TV Christmas Lights Going Out, Coming Out	Balance B/fwd £ 28,148 236 - - - _ 28,384 ======	Movement in Resources Incoming Outgoing & Transf & Transf £ £ 8,253 31,401 5,820 6,056 9,836 9,836 9,430 9,430 37,869 21,195 _ _ 71,208 77,918 ====== ======		Balance
			Incoming & Transf £ 8,253 5,820 9,836 9,430 37,869 _ 71,208 ======
				_ =	C/fwd
					£ 5,000 - - - 16,674 ______ 21,674 =====

Details of the Restricted Fund Projects are given in the Directors’ and Trustees’ Report.

17. Operating Lease Commitments

The previous ten year lease over the property from which the charity operates, came to an end in December 2011. Negotiations with Oxford City Council are currently taking place to try to secure a new lease, and the Charity currently pays £5,000 p.a. on a semi-formal basis. Further details regarding premises issues are given in the Directors’ and Trustees’ Report.

18. Trustees Remuneration and Expenses

None of the Trustees receive any remuneration from the charity for their role as Trustee. Regarding expenses, occasional low value reimbursements are made to the Trustees where expenditure has been incurred on the charity’s behalf.

In connection with fees for professional services related to projects, no monies were paid to Trustees during 2023/24.

14.

OXFORD FILM AND VIDEO MAKERS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] MARCH 2024

19. Related Party Transactions

During the year, the Charity made recharges to its subsidiary of £14,252 in respect of salary recharges, and £3,191 in respect of other expenses. (2023: salaries £6,767, other £600).

20. Subsidiary

The Charity has a 100% subsidiary, Film Oxford Productions Limited, which was incorporated during the previous year.

At the year end date, the total capital and reserves of the subsidiary amounted to £10.

OXFORD FILM AND VIDEO MAKERS LIMITED

Operating as FILM OXFORD

COMPANY NO. 2022892 (ENGLAND AND WALES)

A COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE CAPITAL

REGISTERED CHARITY NO. 1041014

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[ST] MARCH 2024

CONTENTS

Page

1

2

3

4

5

5(a)

6

OXFORD FILM AND VIDEO MAKERS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[ST] MARCH 2024

COMPANY INFORMATION

DIRECTORS' AND TRUSTEES' REPORT

FOR THE YEAR ENDED 31[ST] MARCH 2024

Legal and Administrative Information

Objects of the Charity, Principal Activities and Organisation of Our Work

Building a sustainable business model.

DIRECTORS' AND TRUSTEES' REPORT

FOR THE YEAR ENDED 31[ST] MARCH 2024

Development and Achievements

1. Delivering a film and digital media information and advice service through website, telephone and email.

2. Enhancing cultural provision in our communities

DIRECTORS' AND TRUSTEES' REPORT

FOR THE YEAR ENDED 31[ST] MARCH 2024

3. Networking Groups

4. Training Courses

5. Trading within the Charity and Film Oxford Productions Ltd

Risk Assessment

a) Funding

b) Premises

c) Aims and Objectives

d) Staffing

DIRECTORS' AND TRUSTEES' REPORT

FOR THE YEAR ENDED 31[ST] MARCH 2024

Future Plans

Transactions and Financial Position

Finances and Reserves Policy

Designated Fund

Tangible Fixed Assets for Use by the Charity

Public Benefit

Directors and Trustees

Audit Information

OXFORD FILM AND VIDEO MAKERS LIMITED DIRECTORS' AND TRUSTEES' REPORT FOR THE YEAR ENDED 31[ST] MARCH 2024

Auditors

Small Company Provisions

Approval

OXFORD FILM AND VIDEO MAKERS LIMITED

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31[ST] MARCH 2024

OXFORD FILM AND VIDEO MAKERS LIMITED FOR THE YEAR ENDED 31[ST] MARCH 2024

Opinion

Basis for opinion

Conclusions relating to going concern

Other information

Opinions on other matters prescribed by the Companies Act 2006

INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF

OXFORD FILM AND VIDEO MAKERS LIMITED FOR THE YEAR ENDED 31[ST] MARCH 2024

Matters on which we are required to report by exception

Responsibilities of the trustees

Our responsibilities for the audit of the financial statements

INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF OXFORD FILM AND VIDEO MAKERS LIMITED FOR THE YEAR ENDED 31[ST] MARCH 2024

Use of our report

OXFORD FILM AND VIDEO MAKERS LIMITED

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31[ST] MARCH 2024

SUMMARY INCOME AND EXPENDITURE ACCOUNT

OXFORD FILM AND VIDEO MAKERS LIMITED

STATEMENT OF FINANCIAL ACTIVITIES (COMPARATIVE FIGURES)

FOR THE YEAR ENDED 31[ST] MARCH 2024

SUMMARY INCOME AND EXPENDITURE ACCOUNT