Charity re8iStration number: Company Registration number: 1058389 03238712 CURZON CLEVEDON COMMUNITY CENTRE FOR THE ARTS (COMPANY LIMITED BY GUARANTEE) CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024
CURZON CLEVEDON COMMUNITY CENTRE FOR THE ARTS COMPANY LIMITED 8Y GUARANTEE REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 CONTENTS Trustees, report i-io Independent examiner's report li Consolidated statement of f5nanci31 activities 12 Balance sheets 13-14 Statement of cash flow 15 Notes to the consolidated financial statements 16-42 Registered charlty number- 1058389 Company number- 03238712
CURZON CLEVEDON COMMUNITY CENTRE FOR THE ARTS COMPANY LIMITED BY GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31" DECEMBER 2024 The Trustees are pleased to present their report together with the consolidated financial Slatement5 of the charity and its subsidiary for the year ending 31.51 December 2024, which are also prepared to meet the requirements for a directors, report and accounts for Companies Act purposes. The financial statements comply with the Charities Act 2011, Companies Act 2006, the Memorandum and Articles of A5SOCiation. 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 IFRS 1021 (effective l January 2019) - (Charities SORP IFRS 10211. the Financial Reporting standard applicable in the UK and Republic of Ireland IFRS 1021. Our ur oses and Attivities The purposes of the charity are.. al To promote. maintain, improve and advance education of the public in Clevedon and the surroundin8 area generally and encouragement of the Arts. bl To provide facilities in the interests of social welfare for the recreation and leisure time occupation of the resident5 of areas aforesaid without distinction of sex or political. reli8ious or other opinions and with the object of improving the conditions of life for the said inhabitants. cl To preserve for the benefit of the public the Curzon Cinema and the collection of historic cinematographic artefacts belon8ing to the charity. The charity further5 its objects by carrying out the following activities: Providing film and cinema-related entertainment and educational activities and exhibitions of cinematographic heritage at the historic Curzon Cinema in Clevedon. The Arts are further encouro8ed by live performances of music, Comedy and drama and by exhibition5 of craft and fine art. Operating the Curzon Cinema in Clevedon. Refurbishment and conservation of the historic Curzon Clnema in Clevedon, and conservation of the Curzon Collection of cinema heritage technology.
CURZON CLEVEDON COMMUNITY CENTRE FOR THE ARTS COMPANY LIMITED BY GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31st DECEMBER 20241Contlnued) Achievement5 and Performance Chairfs Report Last year when I reported, we had just launched Season l of our expanded programme of events and we were seeing early progress towards our aim of returning the Curion to profitability and to the level of audiences we had last seen in 2019 before the pandemic. l am delighted to report thi5 year that those decisions taken in 2023 have borne fruit and audience levels are returning towards the heights of 2019. We have turned in a healthy trading profit for the cinema trading company. The annual accounts show numbers consolidated for the group which includes both the charity that owns the building and the trading cinema company. Whilst the consolidated accounts show less profit, this is mainly because of depreciation charges that include the cost of restoring the balconv. Seasons 2 and 3 ran during 2024 and have built on the foundations from 2023. The range of events has been exceptional. The sheer profes5ionali5m has ref5ected the hard work put in by our staff and volunteers. Other cinemas that have remained almost solely general release film based have not seen the improvements we have had and continue to have. Having stabi li5ed the financial foundations followin8 the pandemic, we are again turning our minds to the longer term and to the next stages of audience development and building restoration. Capital projects will need external funding (which is always in short supply) but being able to demonsrrate financial viability will help us meet some of the fundamental prerequisites. Thank you to our CEO Andrew Caddy and the staff and volunteer5 as ever for all that they do. Thanks also to our 8oard of Trustees who oversee Ihings and give their time to help and offer advice and experience. David Sheridzn Chair of the Board of Trustees Chief Executive's Report 2024 has been a year of growth for the Curzon as we continue to develop our curated programme of multi-disciplinary, community focussed, art and films alongside a 'rnain slate, of blockbusters. In many ways, it was a difficult year for cinema5 a5 competition from streaming services, and disruption to the film schedule by the Writers, Guild of America strikes, meant that there was no grovrth in UK audiences between 2023 and 2024, which remained 22% lower than pre-pandemic levels. Despite this challenge, there were still stand-out box office successe5 such as Wicked, Paddington in Peru, One Life, and Despicable Me 4. Intermittent periods without a main release, however, 8ave u5 an opportunity to experiment more with our programme, bringing a wider variety of one-off screenings and events. These were 8rouped together in 'Sea50n Two, which ran between February and June and 'Season Three, which
CURZON CLEVEDON COMMUNITY CENTRE FOR THE ARTS COMPANY LIMITED BY GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31S1 DECEMBER 2024 Icontlnued) closed the year between September and December. Across these two Seasons we have curated and delivered over 80 events. many in partnership with local community groups. Collaborative pro8rammin8 has been a relatively new way of working for us. In total we presented Work with 15 different local organisations over the last year including Bristol Radical History Group, 8ristol Museums and Galleries, and Books on the Hill. One such event was an ambitious co-produced festival with our local Transition Network or8ani5ation Sustainable Clevedon called 'Green Shift,. We worked with Sustainable Clevedon to devise a two-dav programme that included live music performances, craftivism workshops, a hustings with prospective parliamentary candidates, enviro-comedy from Matt Winning. fllms, and panel discussion5 on the issue of climate change. Children from local primary schools a150 made short rilms about the environrnent. and stalls were offered to students from Clevedon School to discuss environmental projects they had been workin£ on as part of the curriculum. A group of music stud ents from Clevedon School also took part in a jam session with bank 'Filkin'5 Dri, before joining the performance on the Saturday evening. We sold 139 tickets across the weekend and welcomed over 100 more attendees for the free schools, events. °Let me say the warmest thonk you to everyone ot the Curzon the whole staff teom oncl greot volunteers for shoping and dellvering the Green Shift Festivol over the weekend... Iwej Gre proud and grateful thot you have worked so hard to help Sustoinoble Clevedon develop, present ond deliver this landmork Fe5tivGI." Funding from the National Lottery Community Fund has enabled us to develop relationships with other progressive organisations in addition to Sustainable Clevedon. One of these was Clevedon Literature Festival with whom we hosted two events a5 part of their annual festival in June. Julia Bradbury joined us to discuss the topics addressed in her Sunday Times Bestseller: 'Walk Yourself Happy: Find your path to health and healin8 in nature,. And Dr Dwight Turner, a psychotherapist and dynamic speakerdiscussed his book 'The Psychologyof Suprernac¢ which looked at "polarities in the age of Trump and Sunak" These two events attracted a combined audience of 431 people. We are lucky to have many fantastic local art15ts in our region. Our programme has enabled us to reach out to, host, and give a platform to both established and early-career performers. This year we've had two barnstorming sold out performances by the Bristol based open audition Fontosy Orchestro who describe themselves as- A community project led by Jesse D Vernon, b05ed in Pari5 ond also in Bristol. The Orchestro {motto.' World Peoce One Note At A Time,) brings together 50+ rnusicion5 professional ond amateur, to create o kaleidoscopic symphonic briqode. The orchestra played joyful sets of music from Ennio Morricone and David Bowie, with orchestra members dre55ed in elaborate home-made costumes and accompanied on the bi Screen with animated visuals created by band members.
CURZON CLEVEDON COMMUNITY CENTRE FOR THE ARTS COMPANY LIMITED BY GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31" DECEMBER 2024 (Contlnued} Followin8 the event, the orchestra said.. An enorrnous THANK YOU to Curzon Cinemo Clevedon for hoving us lust night for our Ennio Morricone bononzo. We all hod a blast and we hope everyone enjoyed our rootin,, tootin,, ond coterwuulin, The most impactful way that our programme is helping people in the community is to give them cces5 to a wider variety of culture and events. particularly showcasing high profile profe55ional artists, including Justin Adams + Mauro Durante, Sir Alexander Mccall Smith, and Adrian Utley from the band Portishead. During 2024 we held three films with live accompaniment.. The Snowman with Bristol Bra55 Band, Nosferatu with Minima, and a Christmas extravaganza of Charlie Chaplin silent films Wlth organ accompaniment by our volunteer organist Bernie 8rown. One of the impacts of our music pro8rarnme ha5 been to give a platform to local artlsts by pairing them with film screenings. These screenings have included bluegrass band The Hogronch with O Brother Where Art Thou, Jonoh Hitchens Band with The Blue5 8rothers. The Trops with Too Much Too Young: The Two Tones Records Story, DJ Ng010 Wlth La Haine, students from The Rock Project and local opera singer Koty Read with live opera screenings from the Royal Opera House. We have also been able to use our programme to brin8 global stories and issues to our local audiences, giving space for discussion, and building communities in response to them. In November we screened an evening of Palestinian archive short films, with space for discussion, traditional food. and stalls representing local actiVlSt groups and in October we welcomed Palestinian musician Zaid Hilal, who performed modern and traditional music alongside a screening of the documentary film Yhe Wanted 18" These two events had 3 combined audience of 179 people, one of whom gave the following feedback: I wonted to reoch out and soy o mossive thonk you for puttin9 on whot wos o beautiful evening with Zaid Hilol'5 music, storytelling, ond wonderful film "The Wonted 18" Heoring people clop. chant and wave the Palestinion flGTg made my heart sing. I was 50 moved to See the cinema full of people who wanted to learn more about Palestine, her history ond culture... Moving to Clevedon, I wos so worried thot there wouldn't be the 5pGce for these types of events or the community that they bring. However, between thi5 ond joining Clevedon Friends of Polestine I qrn gladdened by the foct thot these bring out our shored humanity. To deliver this work, we have had to invest heavily in our production equipment, staffing hours and ski115, reinvesting most of the surpluses made for the year to build our capacity to present live events to a professional standard. This included a £42,000 upgrade to the stage lighting and sound equipment in the auditorium, installing a new lighting bar, a new electrical distribution
CURZON CLEVEDON COMMUNITY CENTRE FOR THE ARTS COMPANY LIMITED BY GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31st DECEMBER 2024 {Continued) board, and stage electrics. Our sincere thanks to the Rural England Prosperity Fund and North Somerset Council for funding of £18,984 towards this project, Stage Electrics for installing it, and North Somer5et Council's Conservation Officer far advice and support. We were also grateful to receive £10,000 in funding towards a new coffee machine and restoration ofa heritage 35mm projector from TheTown Centre OccupanryGrants and Support Programme. Our thanks 80 to the UK Shared Prosperity Fund, North Somerset Councll and the Hive Business Support in Weston for all their support in applying for this fund and delivering the project. A5 a result of it we are already improvin8 our financial sustainability. During the year we received £18,000 in donations from the public, all of which has been spent on our charitable work. This included the purchase of a defibrillator and staff first aid training. Special thanks go to Clevedon Lions, SKF, Xerox, and Forest of Mendip and Clevedon Masonic Lodges for their Support. We also received generous funding from the British Film Institute Cinema Incentive Scheme with thanks to Film Hub Southwest their guidance during the year. Finally, our thanks go to the National Lottery Community Fund for their ongoin8 support of our artistic programme. 1am con51Stently blown away by the dedication and efforts of our Èxtraordinary workforce of staff and volunteers who work tirelessly to deliver an ever-more ambitious pro8ramme of events and films. They have, individually and as a team, raised the bar this year. Their work has been reflected not only in outstanding audience feedback, but in audience numbers too. Where national cinema audiences flatlined in 2024, we were able to 8row our audience by IO% from 56,742 to 62.323. ensuring that we had remained profitable for a second year In a row. The UK cinema industry continues to face significant headwinds,. increases to national insurance and the Real Llvin8 Wage. alongside continued pressure from strearnin8 services taking a larger share of film distribution. will pose challenges for us in the future. But I think our achievements in 2024 give us plenty to be excited about as we continue to develop Curzon Cinema and Arts as the destination art5 centre for North Somerset. Andrew Caddy Chief Executive Officer Financial review The charity undertook its main charitable activity. that of running the Curzon Cinema through its trading subsidiary, Curion Community Cinema Ltd. The subsidiary had box office Income of £426.544 in 202412023 - £355,899) and confectionary and bar sales of £197,796 12023 £165,360). The charity received E49,04212023 - £41,574) in grants and donation5 of which £28,984 was restricted12023 - £37,981).
CURZON CLEVEDON COMMUNITY CENTRE FOR THE ARTS COMPANY LIMITED BY GUARANTEE REPORT OF THE TRUSTEE5 FOR THE YEAR ENDED 3151 DECEMBER 2024 Icontlnuedl Overall income wa5 £798,196, 17.3% higher than the previous year (2023- £680,7CBI. Total expenditure for the year was £794,884, 10.8% hi6her than the previous year 12023 £717,586). Total restricted expenditure in the year was £1,78012023- £33,805). The net deficit of income over expenditure for the year is £3,312 (2023 - deficit of £36.8781. This includes an unrestricted surplus after transfer of funds of £3,312 for the year and restricted surplus of £nil for the year. At the year-end, the group had total funds of £862,152, of which £nil were held in restricted funds. Net current assets at 31 December 2024 were £159.498. Treasurerfs Report Curzon Cinema and Arts continued its post.pandemic recovery trajectory in 2024, strengthening total funds by E3.312. Althou8h thi5 has been a modest overall improvement, Curzon Community Cinema Limited, the charity's trading subsidiary made a profit of £19,772, buildin8 on the surplus of £7,871 made in 2023. Surpluse5 made on cinema tradin& together with restricted grant income, enabled the charity to invest £51.893 in capital improvements which will enable programming and commercial improvements in the future. During the year, income saw a significant increase of 17.3% year-on-year, rising to £798.196 from £680,708 in 2023. This growth was driven by improvements to programming 35 outlined in the Chief Executive's Report. This in turn enabled investment in running costs including an increased investment of £40,652 in staffin8COSts, which have been necessaryto grow the scope and impact of programming. Overall. free reserves have improved during the year. The board has set a reserves policy such that group free reserves plus designated contingency funds should be £150,000. At 31st December 2024this balance was £132.70112023: £112,209). We plan on reachin8 our reserves policy target by the end of 2025. Group liquidity remain5 5trongwith cash and cash equivalents of £239,997 at ihe balance sheet date12023: £232,417). As always. my thanks to Jan Cromey. our Finance Manager whose diligence and experience of the Curzon means that our finances are appropriately mana8ed on a day-to-day bas1S. Daniel Cheesman Treasurer
CURZON CLEVEDON COMMUNITY CENTRE FOR THE ARTS COMPANY LIMITED BY GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 315t DECEMBER 20241Continued) Reserves Poli The Trustees have decided that to further secure the continuance of the charity, the reserves policy should be such that group free reserves (net current asset5 held within unrestricted general reserves. less long term liabilities) plus designated contingency funds should wherever possible and appropriate, be £150,000. This currently equate5 to 3 months of unrestricted expenditure. The free reserves of the group at 31 Oecember 2024 were £44.701. The contingency fund was £88,000 which is designated to 'the graceful winding up of the charity if ever required. leaving free reserves plus de518nated contin8ency funds of £132,701. Reference and Administrative Information Charity Name.. Curzon Clevedon Community Centre for the Arts Charity Registration number: 1058389 Company Registration number: 03238712 Re8iStered Office: 46 Old Church Road Clevedon North Somerset BS216NN Independent examiner: Burnside, 61 Queen Square, Bristol, BSI 4JZ Bankers: Lloyds TSB. Clevedon Branch Dirertors and trustees The directors of the charitable company are Its trustees for the purpose of charity law and throughout this report are collectively referred to as the Trustees. The trustees serving during the year, and since the year end, were as follows: David Sherldan Tara Judah (resigned 25 September 2024) David Turner
CURZON CLEVEDON COMMUNITY CENTRE FOR THE ARTS COMPANY LIMITED BY GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31" DECEMBER 2024 {Continuedl Cara Macmahon (resigned 25 September 20241 Daniel Chee5man Katie Lee Charlotte Crofts (appointed 25 March 20241 Nigel Dyke (appointed 25 March 20241 Jeremy Hayward lappointed 29 July 20241 Senior Mana ement Tearn Andrew Caddy. Chief Executlve Jan Cromey. Finance Manager Gemma Burchill, Front of House Manager Petra Mansour, Marketing Manager Clare Mactaggart, Facilities Manager Ito 19 July 20241 Structure Governance and Mana Governin Document ement Curzon Clevedon Community Centre for the Arts is a charitable cornpany limited by guarantee. incorporated as a registered charity on 16 Au8USt 1996. It wholly owns a subsidiary trading company. Curzon Community Cinema Limited which was incorporated on 26 September 1996. The charity was established under a Memorandum of Association which establishes the objects and powers ofthe charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1. ointment of Trustees Trustees are elected by the members at the Annual General Meeting of the charity. Trustees are elected to serve for a period of three years, after which they can be re-elected for a further three-yeèr period. The Trustees may appoint a new trustee to the board, and new trustee5 are appointed as and when Specific new skills and expertise are required. Any trustee appointed by the Board of Trustees holds office unlil the next Annual General Meeting and is then eligible for election. Trustee Indurtlon and Trainin New trustees undergo a briefing with the chairman which covers, amon8 Other thin8S, their legal obligations under charity and company law, the content of the Mernorandum and Articles
CURZON CLEVEDON COMMUNITY CENTRE FOR THE ARTS COMPANY LIMITED 8Y GUARANTEE REPORT OFTHE TRUSTEES FOR THE YEAR ENDED 3151 DECEMBER 2024 {Continuedl of Association, the committee and decision making processes, the business plan and financial performance of the charity. They also visit the Cinema and its office to meet key employees and to Bain an understanding of the work being conducted in the organisation. New trustees receive key documentation such as the Memorandum and Article5 of Association and the latest financial statements and reports. Prospective new trustees generally attend a few board meetings as observers before a final decision is made on their appointment to the board. anlsation The 8oard of Trustees administers the charity and is responsible for its strategic direction and policy. The Board meets bi-monthly. A Chief Executive TS appointed by the Trustees to manage the day to day operations of the charity and to ensure that the charity delivers the services specified and that key performance indicators are met. Related Partie5 There are no other charitie5 that are related to the Curzon Clevedon Community Centre forthe Arts. Risk Mana ement The Trustees regularly review the princip31 risks which the charity may face and oversee the implementation of procedures desi8ned to minimise any potential impact on the charity should those risks materialise. A key element In the management of financial risk is the setting of a reserve5 pollcy and its regular review by the Trustees. Public benefits The Charity Commission in its 'Charities and Public Benefit, Guidance requires that there are two key principles to be met in order to show that an organisation's aims are for the public benefit: first. there must be an identifiable benefit and secondly, the benefit must be to the public or a section of the public. Curzon Clevedon Community Centre for the Arts airns to benefit the public directly by the provi5i0n of educational activities and Information related to film and clnema technology and heritage and by providing arts and recreational facilitie5 to the people of Clevedon and the wider area in the operation of the Curzon clnema. It also aims to benefit the public by
CURZON CLEVEDON COMMUNITY CENTRE FOR THE ARTS COMPANY LIMITED BY GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31" DECEMBER 2024 (Continued) maintaining, conserving and seeklng to restore the building in accordance with its heritage status. Trustees, Res onsibilltles The Trustees are required by company law to prepare financial statements which give a true and fair view of the state of affairs of the charity at the end of the financial year and of the income and expenditure of the charity for the year ended on that date. In preparing those financial statements. the Trustees are required to: select suitable accounting policies and apply them consistently make judgements and estimates that are reasonable and prudent prepare the financial statements on a going concern basis unless It is inappropriate to presume that the charity will continue in business The Trustees are also 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 enSUfe that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assers of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees confirm that they have given due regard to guidance published by the Charity Commission as required by Section 4 of the Charities Act 2011. In so far as the Trustees are aware: there is no relevant information of which the charitable company's independent examlner5 are unaware: and the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant information and to establish that the independent examiners are aware of that information No Trustees or their related parties have received benefit or remuneration from the charitable company. BY ORD OF THE 80ARD DAVID SHERIDAN TRUSTEE DATE 28107r2025 io
CURZON CLEVEDON COMMUNITY CENTRE FOR THE ARTS COMPANY LIMITED BY GUARANTEE INDEPENDENT EXAMINER'S REPORTTO THE TRUSTEES OF CURZON CLEVEDON COMMUNITY CENTRE FOR THE ARTS "the Com an I report to the charity trustees on my examination of the account5 of the Company for the year ended 31 December 2024. Responsibilities and basis of report As the charity's trustees of the Company {and also its directors for the purpose5 of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 20061'the 2006 Act'}. Havin8 satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examlnatlon, I report in respert of my examination of your charitVs account5 as carried out under section 145 of the Charities Act 20111'the 2011 Act'l. In carryin8 out my examination I have followed the Directions given by the Charity Commission under section 145151 Ibl of the 2011 Act. Independent examiner's statement Since the Company's gross income exceeded £250.000 your examiner must be a Member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l a member of the Institute of Chartered Accountants in En8land and Wale5, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: accounting records were not kept in respect of the Company as required by settion 386 of the 2006 Act. or the accounts do not accord wlth those records: or the Bccounts do not complywith the accounting requirementsofsection 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view which is not a matter considered as part of an independent examination; or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102)1. Ihaven attentio reached I concerns and have come across no other matters in connection with the examination to which should be drawn in this report in order to enable a proper understanding of the accounts to be Signe Name: ephen Burnside FCA Relevant professional body: Institute of Chartered Accountants in En8land & Wales Addres5: Burnside Chartered Accountants. 61 Queen Square, Bristol, BSI 4JZ Oate: q4¥< li
CURZON CLEVEDON COMMUNITY CENTRE FOR THE ART5 COMPANY LIMITED BY GUARANTEE CONSOLIDATED STATEMENT OF FINANCIAL AcfiviTIES FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestricted Funds Restricted Total funds Total funds Funds 2024 2023 Note INCOME AND EXPENDITURE Income from". Grants. donations and legacie5 Charitable activities Other trading acfivities Investments 20,058 426,544 258,413 64,197 28,984 49,042 426,544 258,413 64.197 41.574 355,899 225,281 57,954 TOTAL INCOME 769,212 28.984 798.196 680,708 Expenditure on: RaisinE funds Charitable activities 111,040 682,064 111.040 683,844 99,112 618,474 1.780 TOTAL EXPENDITURE io 793.104 1.780 794,884 717,586 Net income/ {expenditure} {23,8921 27,204 3.312 136,8781 Transfers between funds 28,388 128,3881 Net rnovement in funds 4,496 11,1841 3,312 136,8781 Reconciliation of funds: Total funds brought forward 857,656 1,184 858,840 895,718 Total funds carried forward 26 862.152 862,152 858,840 The note5 on pa8es 16 to 42 form part of these financial statements. The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derNe from continuing activities. The prior year Consolidated Statement of Financial Activitles is provided in note 4.. 12
CURZON CLEVEDON COMMUNITY CENTRE FOR THE ART5 COMPANY LIMITED BY GUARANTEE BALANCE SHEErs AT 31 DECEMBER 2024 Group 2024 Group 2023 Charity 2024 Charity 2023 Notes FIXED ASSETS Intangible fixed asset5 Tangible fixed assets Investrnents 14 2.831 15, 16 730,285 17 3,775 744,642 713.274 732,048 733,116 748,417 713,278 732,052 CURRENT ASSETS Stock Debtor5 Cash at bank and in hand 6, 103 43,833 239,997 6.845 89.473 232,417 18 40,848 143.810 87,842 169,201 289,933 328,735 184.658 257,043 CREDITORS: Amounts Falling due within one year 19 130,435 182,590 28,082 96,826 NET CURRENT ASSETS 159,498 146,145 156,576 160,217 TOTAL ASSETS LESS CURRENT LIABILITIES 892,614 894,562 869,854 892,269 CREDITORS- Amounts fallin8 due After one year 20 26,797 32.752 26,797 32,752 PROVISIONS FOR LIABILITIES 21 3,665 2,970 NET ASSETS 862,152 858,840 843,057 859,517 FUNDS: Unrealised revaluation reserve General realised reserve5 Designated reserves 467,860 194,345 199,947 467,860 175,854 213,942 467,860 175,250 199,947 467,860 176,531 213,942 Total unrestricted reserves 24 862,152 857,656 843.057 858,333 Restricted 25 1,184 1,184 Total charity funds 26, 27 862.152 858,840 843,057 859,517 13
CURZON CLEVEDON COMMUNITY CENTRE FOR THE ARTS COMPANY LIMITED BY GUARANTEE BALANCE SHEETS AT 31 DECEMBER 2024 (continued) The directors are 5at15fied that the company is entitled to exemption from the provisions of the Cornpanie5 Act 2006 (the Act) relating to the audit of the financial statements for the year by vlrtue of section 477, and thal no member or members have requested an audit pursuanr to section 476 of the Act. The directors acknowledge their responsibilities for: lil ensuring that the company keeps adequate accounting records which comply with Section 386 of the Act, and lill preparing financial Statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit or loss for the financial year in accordance with the requirements of section 393, and which otherwise cornply with the requirements of the Act relating to financial statements. so far as applicable to the company. The trustees have prepared 8roup accounts in accordance with section 398 of the Companies Act 2006 and section 138 of the Charities Act 2011. These financial statements have been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006 and with the Financial Reporting Standard applie3ble in the UK and Republic of Ireland IFRS 1021 (effective l January 20191- (Charities SORP IFRS 102)), the Financial Reporting standard applicable in the UK and Republic of Ireland IFRS 1021. These financial statemefits were approved by the directors and authorised for issue on and e signed on their behalf by". 28107r2025 DAVID 5HERIDAN TRUSTEE DATE 28107f2025 DANIEL CHEESEMAN TRUSTEE DATE The notes on page5 16 to 42 form part of these financial statements. Company number- 03238712 14
CURZON CLEVEDON COMMUNITY CENTRE FOR THE ARTS COMPANY LIMITED BY GUARANTEE STATEMENT OF CASHFLOW FOR THE YEAR ENDED 31 DECEMBER 2024 Group 2024 Group 2023 Charity 2024 Charity 2023 Notes Reconciliation of net movement in funds to net cash flow from operating artivities Net movement in funds Add back depreciation charge Add back amortisation charge Less interest received Add bank loan interest Decreasellincreasel in stock Ilncreasel in trade debtors Ilncreaselldecrease in other debtors Increaselldecrea5el in trade creditors Increaselldecreasel in other creditors 3.312 136,8781 116,459) 144,750) 66,250 58,494 60,580 54,101 944 1,329 13541 11.0351 1,347 6,777 742 11,1521 11,781 111,1921 9,685 112,5771 33,858 123,8591 37,310 (21,7441 116,2561 13,062 115.8021 6,456 18,169 29,092 429 653 (1791 1,347 1984) 6,777 Net cash used in operating activities 119,793 34.638 76,911 (12,0681 Cash flows from investing activlties Purchase of tangible fixed assets Purchase of intangible fixed assets Interest received 151,893) 178.6841 141,807) {72,723) 354 1.035 179 984 Cash provided by/lu5ed in) investing activities {51,539) (77.649} {41,628) (71,739) Cash flows from financing activitie5 Repayment of borrowing Bank loan interest paid 158,8851 163,231) 158.885) 163,231) 11,7891 17.4131 11,789) 17,413) Cash provlded by/{used in} financing activities (60,6741 (70.644) 160,674) 170,644) Increase/ldecrea5el in cash & cash equivalents 7,580 {113,655) 125,391) (154,451) Cash & cash equivalents at the beginning of the year 232,417 346,072 169,201 323,652 Total cash & cash equlvalents at the end of the year 28 239,997 232,417 143,810 169,201 15
CURZON CLEVEDON COMMUNITY CENTRE FOR THE ARTS COMPANY LIMITEO BY GUARANTEE NOTE5 TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 GENERAL INFORMATION The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is 46 Old Church Road, Clevedon, BS216NN. STATEMENT OF COMPLIANCE These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,. ACCOUNTING POLICIES la) Basls of preparatlon The flnancial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities in preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 {effettive l January 2019} - Icharities SORP {FRS 102}I, the Financial Reporting standard applicable in the UK and Republic of Ireland (FRS 1021 and the Companies Act 2006. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s}. {b} Golng Concern On 31 December 2024, the group had total funds of £862,152 12023 £858,840}. Restricted funds amounted to £nil12023 - £1,184). The reserves policy target is that free reserves plus designated contingency funds should be £150,000 which currently equates to 3 months unrestricted expenditure. The free reserves of the group at 31 December 2024 were £44,701. The contingency fund was £88,000 which is designated to 'the graceful winding up of the charity if ever required, leaving free reserves plus designated contingency funds of £132,701. Budgets and cash flow forecasts have been prepared to 31tt December 2025 that show the charity will have cash resources to operate until then. The trustees therefore have a reasonable expectation that the charity will be in operation 12 months from the date of approval of these accounts and that the charity remains a golng concern. The accounts have therefore been prepared on a going concern basis. 16
CURZON CLEVEDON COMMUNITY CENTRE FOR THE ARTS COMPANY LIMITED BY GUARANTEE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 310ECEMBER 2024 Icontinuedl ACCOUNTING POLICIES Icontinued) (cl Judgements and key sources of estlmation uncertalnty The preparation of the financial statement5 requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimate5 and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. {d) Group flnancial statements The financial statements consolidate the result5 of the charity and its wholly owned subsidiary Curzon Community Clnema Ltd on a line-by-line basis. A separate Statement of Financial Activities and income and expenditure account for the charity has not been presented because the charity has not been presented because the charity has taken advantage of the exemption afforded by the Section 408 of the Companies Act 2006. (e) Income Items of income are recognised and included in the accounts when all of the following criteria are Met., The charity and its subsidiary have entitlement to the funds. Any performance conditions attached to the items of income have been met or are fully within the control of the charity or Its subsidiary. There 15 sufficient certainty that receipt of the income is consldered probable. The amount can be measured reliably. Donations, grants ond sponsorship Income from donation5, grants and sponsorship, including capital grants, Is included in Income when these are receivable, except as follows: when donors specify that donations and grants given to the charity must be used in future accounting periods, the income is deferred until those periods; and when donors impose conditions which have to be fulfilled before the charity becomes entitled to use such income, the income is deferred and not included in incomin8 resources until the pre-conditions for use have been met. When donors specifythat donations and grants, includin8 capital grants, are for particular restricted purposes, which do not amount to pre-conditions regarding 17
CURZON CLEVEDON COMMUNITY CENTRE FOR THE ARTS COMPANY LIMITED BY GUARANTEE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Icontinuedl ACCOUNTING POLICIES (continued) entitlement, this income is included in incoming resource5 of restricted funds when receivable. Intangible income Intangible income, which comprises donated services, is included in income at a valuation which is an estimate of the financial cost borne by the donor where such a cost is quantifiable and measurable. No income is recognised when there is no financial cost borne by a third party. The value of services provided by unpaid volunteers is not included in the financial statements. Interest receivoble Interest is included when receivable by the charity, Gifts in kind Fixed assets donated to the charity are included in income at market value at the time of receipt, Cinema box office income and associated bar ond confectionary sales This income is included and recognised at the point of sale. Income is stated excluding discounts, rebates, value added tax and other sales taxes. Rental income Rental income Is recognised on a receivable basis. Any rental holiday period has been spread equally over the life of the lease. (f) Expendlture and Irrecoverable VAT Expenditure is included In the Statement of Financial Activities once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required, and the amount of the obligation can be measured reliably. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. Certain expenditure is directly attributable to specific activities and has been included in those cost categories. Certain other costs, which are attributable to more than one activity, are apportioned across cost categories on the basis of an estimate of the proportion of time spent by staff on those activitie5. Expenditure is allocated to the particular activity where the cost relates directly to that activity. Support costs have been allocated on the basis of staff costs as a reasonable basis for time spent on activities. 18
CURZON CLEVEDON COMMUNITY CENTRE FOR THE ARTS COMPANY LIMITED BY GUARANTEE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Icontinuedl ACCOUNTING POLICIES (continued) {g} Allocatlon of support cost5 Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back-office costs, finance, personnel, payroll and governance costs which support the Charit¢5 programmes and activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. The bases on which 5UPPOrt costs have been allocated are set out in note 12. (h) Intangible fixed assets Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows: Website 25% reducing balance {il Tangible flxed assets The cost of tangible fixed assets is capitalised and depreciated over their expected useful lives on the following basis: Fixtures, fittings and equipment Freehold properties, excluding land Freehold properties improvements 25% reducing balance 2% straight line IO% straight line The charlty took advantage of the transitional arrangements under section 35.IOlcl of FRS102 The Financial Reporting Standard applicable in the UK and Republic of Ireland to measure the fair value of its freehold property at the transition date of l January 2016, and use that fair value as it5 deemed cost going fonvard. (i.) Funds accountlng Funds held by the charity are: Unrestricted general funds - these are funds which can be used in accordance with the charitable objects at the discretion of the trustees. Restricted funds-these are funds that can only be used for particular restricted purposes wlthin the objects of the charity. Restrictions arise when speclfied by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. 19
CURZON CLEVEDON COMMUNITY CENTRE FOR THE ARTS COMPANY LIMITED BY GUARANTEE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 {continuedl ACCOUNTING POLICIES Icontinuedl Ik) Fixed assets Investments Investment in Subsidiary is stated at cost. {11 Stock Stock is valued at the lower of cost and net realis3ble value. {ml Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid 3ftert3king account of any trade discounts due. In) Cash at bank and in hand Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or les5 from the date of acquisltion or opening of dep051t account. (o) Creditor5 and provlslons Creditors and provisions are recognised when the charity has a present obligation resulting from a past event that will probably result in the transfer of fund5 to a third party and the amount due to settle the obli8ation can be measured or estimated reliably. Creditors and provi5ion5 are normally recognised at their settlement amount after allowing for any trade discount5 due. {p} Finance leases and hlre purchase contracts Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct cost5 of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liabilitv. 20
CURZON CLEVEDON COMMUNITY CENTRE FOR THE ARTS COMPANY LIMITED BY GUARANTEE NOTES TO THE CONSOLIDATED FINANCIAL STATEMEHrs FOR THE YEAR ENDED 31 DECEMBER 2024 (continued} ACCOUNTING POLICIES (continued) {q} Flnancial instruments The trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instrument are inÉtially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are measured at the carrying value plus accrued interest less repayments. The financing charge to expenditure is at a constant rate calculated using the effective interest method. Ir) Defined contrlbutlon plans Contributions to defined contribution plans are recognised as an expense in the period in which the related seniice is provided, Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount IS recognised as a finance cost in profit or loss in the period in which it arises. 21
CURZON CLEVEDON COMMUNITY CENTRE FOR THE AKrs COMPANY LIMITED BY GUARANTEE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 (continued) COMPARATIVE CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 Unrestricted Funds Restritted Total funds Funds 2023 Note INCOME AND EXPENDITURE Income from: Grants, donations and legacies Charitable activities Other trading activities Investments 3,593 355,899 225,281 642,727 37,981 41,574 355,899 225,281 60,400 TOTAL INCOME 642,727 37,981 680,708 Expenditure on: Raising funds Charitable activities 99,112 584,669 99,112 618,474 33,805 TOTAL EXPENDITURE 683,781 33,805 717,586 Net income/ lexpenditurel (41,0541 4,176 {36,878) 22
CURZON CLEVEDON COMMUNITY CENTRE FOR THE ARTS COMPANY LIMITED BY GUARANTEE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 (continued) FINANCIAL PERFORMANCE OF THE CHARITY The consolidated statement of financial attivities includes the results of the charit5 wholly owned subsidiary which operates the running of the Curzon Cinema. The summary financial performance of the charity alone is: Total 2024 Total 2023 Income from: Grants, donations and le8acies Other tradln8 activities Investments 49,042 5,014 64,021 41,574 10,265 57,902 TOTAL INCOME 118,077 109,741 Expendlture on: Charitable activlties 134,537 154,490 TOTAL EXPENDITURE 134,537 154,490 Net Incomel(expendlture) {16,4601 144,7491 Total funds brought forward 859,517 904,266 Total funds carried forward 843,057 859,517 Represented by: Restricted funds Unrestricted funds 1,184 841,873 1,184 858,333 TOTAL FUNDS 843,057 859,517 23
CURZON CLEVEDON COMMUNITY CENTRE FOR THE ARTS COMPANY LIMITED BY GUARANTEE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 {continuedl GRANTS, DONATIONS AND LEGACIES Unrestricted Restricted Funds Funds Total 2024 Total 2023 Donations from the public Lottery Restoration project Roof fund NLHF Balcony fund Donations from the public North Somer5et Council Other grants and donations 17,936 102 1,020 17,936 102 1,020 130 1,020 36,401 1,580 16,0011 28,984 28,984 1,000 I,ooo 20,058 28,984 49,042 41,574 7. CHARITABLE ACTIVITIES Unrestricted Restricted Funds Funds Total 2024 Total 2023 Curzon Community Clnema - Box Office Events 426,544 426,544 355,899 426,544 426,544 355,899 24
CURZON CLEVEDON COMMUNITY CENTRE FOR THE ARTS COMPANY LIMITED BY GUARANTEE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 (continued) 8. OTHER TRADING ACTIVITIES Unrestricted Restricted Funds Funds Total 2024 Total 2023 Curzon Community Cinema Confectionary sales Lounge bar - Advertising income Interruption of business insurance claims - Other 136,337 61,459 11,607 136,337 61,459 11,607 101,003 64,357 12,525 3,425 43,971 49,010 49,010 258,413 258,413 225,281 9. INVESTMENT INCOME Unrestricted Restricted Funds Funds Total 2024 Total 2023 Rental income Insurance recharged UK bank interest 51,207 12,636 354 51,207 12,636 354 56,919 1,035 64,197 64,197 57,954 25
CURZON CLEVEDON COMMUNITY CENTRE FOR THE ARTS COMPANY LIMITED BY GUARANTEE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Icontinuedl 10. TOTAL EXPENDITURE Direct Other Staff Costs Direct Costs Total Total Ex enditure- 2024 Expenditure on raislng funds: Costs of applying for grants and donations Curzon Community Cinema Ltd Trading income from bar, food and advertising 1,206 1,206 11,872 97,692 109,834 11,872 99,168 111,040 Expenditure on charitable actlvltles: Curzon Cinema Restoration project Balcony project 256,056 394,190 650,246 19,604 19,604 13,994 13,994 256,056 427,788 683,844 267,928 526,956 794,884 26
CURZON CLEVEDON COMMUNITY CENTRE FOR THE ARTS COMPANY LIMITED BY GUARANTEE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Icontinuedl Direct Other Staff Costs Direct Costs Total Total Ex enditure- 2023 Expendlture on raising funds: Costs of applying for grants and donations Curzon Community Cinema Ltd - Trading income from bar, food and advertising 1,922 1,922 9,846 87,344 97,190 9,846 89,266 99,112 Expenditure on charitable actlvitle5: Curzon Cinema Restoration project Roof fund Balcony project 210,551 367,209 577,760 19,605 19,605 6,879 14,230 6,879 14,230 217,430 401,044 618,474 227,276 490,310 717,586 Other direct cost5 include.. 2024 2023 Amortisation Depreciation Loan interest charged at amortised cost 944 1,329 66,250 58,494 1,347 6,777 27
CURZON CLEVEDON COMMUNITY CENTRE FOR THE ARTS COMPANY LIMITED BY GUARANTEE NOTES TO THE CONSOLIDATED FINANCIAL sTATEmErS FOR THE YEAR ENDED 31 DECEMBER 2024 {continuedl 11. SUMMARY ANALY515 OF EXPENDITURE AND RELATED INCOME FOR CHARITABLE ACTIVITIES Curzon Restoration Cinema Project Roof Balcony Fund Fund Total Current ear- 2024 Costs Box Office 1650,246) 119,604) 426,544 113,994) 1683,844) 426,544 Net cost funded from other income and funds brought forward 1223,702) 119,6041 113,9941 1257,3001 Curzon Restoration Cinema Project Roof Fund Total Prior ear- 2023 Costs Box Office (577.7601 119,605) 355,899 16,8791 114,2301 {618,4741 355,899 Net cost funded from other income and fvnds brought forward 1221,8611 {19,605) (6,8791 114,2301 {262,575) 12. SUPPORT AND GOVERNANCE COSTS Charity support & governance costs have all been allocated to the Curzon Cinema, and Fundraisin& on the activities basis of direct staff costs. Support and governance costs consisted of these activities: 2024 2023 Salary costs Office cost5 Governance costs- Independent examination 22,297 4,906 7,068 19,824 3,139 8,000 34.271 30.963 28
CURZON CLEVEDON COMMUNITY CENTRE FOR THE ARTS COMPANY LIMITED BY GUARANTEE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 (continued) 13. STAFF COSTS AND TRUSTEES, REMUNERATION 2024 2023 Wages and salaries Social security costs Employer pension contributions 250,614 216,451 13,240 7,455 4,074 3,370 267,928 227,276 As required by law we can confirm that no employee earned £60,000 p.a. or more In either the current year or the previous year. No expenses were paid to trustees during the year. The key management personnel of the group comprise the trustees, the Chlef Executive Officer, Finance Manager, the Front of House Manager, the Marketing Manager and the Facilities Manager of Curzon Clevedon Community Centre for the Arts. The total employee benefits of the key management personnel of Curzon Clevedon Community Centre for the Arts were £133,949 {2023: £116,821), The average number of employees analysed by function was: 2024 No. 2023 No. Management and administration Cinema io 10 15 15 29
CURZON CLEVEDON COMMUNITY CENTRE FOR THE ARTS COMPANY LIMrrED BY GUARANTEE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 (continued) 14. INTANGIBLE ASSETS- GROUP Website Total COST At ljanuary 2024 Addition5 acquired separately 13,958 13,958 At 31 December 2024 13,958 13,958 AMORTISATION At l January 2024 Char8e for the year 10,183 944 10,183 944 At 31 December 2024 11,127 11,127 NET BOOK VALUE At 31 December 2024 2,831 2,831 At 31 December 2023 3,775 3,775 30
CURZON CLEVEDON COMMUNrrY CENTRE FOR THE AKrs COMPANY LIMITED BY GUARANTEE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT5 FOR THE YEAR ENDED 31 DECEMBER 2024 (continued) 15. TANGIBLE ASSETS- CHARIT Fixtures fittings Freehold ro ert Total COST AND DEEMED COST At l January 2024 Additions 1,155,981 252,313 41,806 1,408,294 41,806 At 31 December 2024 1,155,981 294,119 1,450,100 DEPRECIATION At l January 2024 Charge forthe year 471,599 38,212 204,647 22,368 676,246 60,580 At 31 December 2024 509,811 227,015 736,826 NET BOOK VALUE At 31 December 2024 646,170 67,104 713,274 At 31 December 2023 684,382 47,666 732,048 The charity took advantage of the transitional arrangements under settion 35.10(c) of FRS102 The Financial Reporting Standard applicable in the UK and Republic of Ireland to measure the fair value of its freehold property at the transttion date of l January 2016, and use that fair value as its deemed cost going forward. 31
CURZON CLEVEDON COMMUNITY CENTRE FOR THE ARTS COMPANY LIMITED BY GUARANTEE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT5 FOR THE YEAR ENDED 31 DECEMBER 2024 Icontinued} 16. TANGIBLE ASSETS- GROUP Fixtures fittings ui Freehold ro Total COST AND DEEMED COST At ljanuary 2024 Additions 1,155,981 319,591 51,893 1,475,572 51,893 At 31 December 2024 1,155,981 371,484 1,527,465 DEPRECIATION At ljanuary 2024 Charge for the year 471,599 38,212 259,331 28.038 730,930 66,250 At 31 Decernber 2024 509,811 287,369 797,180 NET BOOK VALUE At 31 December 2024 646, 170 84,115 730,285 At 31 December 2023 684,382 60,260 744,642 The charity took advantage of the transitional arrangements under section 35.IOlcl of FRS102 The Financial Reporting Standard applicable in the UK and Republic of Ireland to rneasure the fair value of its freehold property at the transition date of l January 2016, and use that fair value as its deemed cost going forward. 32
CURZON CLEVEDON COMMUNITY CENTRE FOR THE ARTS COMPANY LIMITED BY GUARANTEE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Icontinuedl 17. INVESTMENTS- GROUP AND CHARITY Group 2024 Charity 2024 2023 2023 Investment in subsidiary- shares at C05t subsidia com an Curzon Clevedon Community Centre for the Art5 owns the whole of the issued share capltal of Curzon Community Cinema Limited, a company re8iStered in England and Wales. Its principal activity is to operate the Curzon Cinema in Clevedon, North Somerset. The results of the subsidiary are consolidated In these financial statements. Further details are disclosed in note 30. 18. DEBTORS Group 2024 Charity 2024 2023 2023 Trade debtor5 Due from subsidiary undertaking Prepayments and accrued income Other debtors 5,387 17,168 4,345 14,030 7,350 66,462 37,330 1,116 67,245 5,060 36,503 43,833 89,473 40,848 87,842 33
CURZON CLEVEDON COMMUNITY CENTRE FOR THE ARTS COMPANY LIMITED BY GUARANTEE NOTES TO THE CONSOLIDATED FINANCIAL sTATEMEr5 FOR THE YEAR ENDED 31 DECEMBER 2024 Icontinuedl 19. CREDITORS.. Amounts falling due within one year Group 2024 Charity 2024 2023 2023 Trade creditors Accruals and deferred income VAT liability Social security and other taxes Secured bank loan Coronavirus Bounce Back Loan Other creditors Due from subsidiary undertaking 32,740 53,637 30,764 6,798 48,996 45,394 24,642 4,073 53,372 5,955 158 412 17,950 1,726 16,214 19,463 1,822 53,372 5,955 5,955 541 5,955 384 1,655 130,435 182,590 28,082 96,826 20. CREDITORS.. Amounts falling due after more than one year Group 2024 Charity 2024 2023 2023 Coronavirus Bounce Back Loan fallin8 due in less than 5 years Coronavirus Bounce Back Loan fallin8 due after 5 year5 23,820 23,820 23,820 23,820 2,977 8,932 2,977 8,932 26,797 32,752 26,797 32,752 The bank loans are financial instruments measured at amortlsed cost. 34
CURZON CLEVEDON COMMUNITY CENTRE FOR THE ARTS COMPANY LIMITED BY GUARANTEE NOTE5 TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Icontinuedl 21. PROVSIONS FOR LIABILITIES Group 2024 Charity 2024 2023 2023 Deferred tax- taxation allowance5 3,665 2,970 22. RELATED PARTY TRANSAcfioNS There were no related party transaction5 in the current or previous year. 23. CORPORATION TAXATION The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to it5 charitable objects. 24. UNRESTRICTED FUNDS Unrealised revaluation reserves General De5i8nated - realised Contingency reserves fund Balcony depr'n fund Total 8alance at l January 2024 Income Expenditure Transfers 467,860 175,855 769,212 1779,110) 28,388 88,000 125,941 857,656 769,212 (13,9941 1793,1041 28,388 Balance at 31 December 2024 467,860 194,345 88,OCrf) 111,947 862,152 35
CURZON CLEVEDON COMMUNITY CENTRE FOR THE ARTS COMPANY LIMITED BY GUARANTEE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 {continuedl 24. UNRESTRICTED FUNDS Icontinuedl Contin enc fund To cover any shortfall in a cut in cinema and rental income over the next 18 months. Balcon reciation fund To fund the depreciation charge over 10 years on the balcony improvements. 25. RESTRICTED FUNDS Front Room Cinema Stage Commercial Lighting Equipment Upgrade Upgrade Total Balance at l January 2024 Income Expenditure Transfers 1,184 1,184 10,000 28,984 {1,7801 11,7801 {8,220} {28,3881 18,984 (1,184) 118,984} Balance at 31 December 2024 Front Room Cinema The Front Room Cinema project was funded by a grant from Quartet and continued donations from the public. The project provides Residential or Care Homes in North Somerset with the big screen experience in their front room. Sta eLi htin rade Funding received in respect of the purchase and installation of a new lighting bar, new stage lights and a lighting desk. Commercial E ui ment U rade Funding received in respect of a new coffee machine and maintenance of and existing projector. 36
CURZON CLEVEDON COMMUNITY CENTRE FOR THE ARTS COMPANY LIMITED BY GUARANTEE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 (continued) 26. ANALYSIS OF NET ASSETS- GROUP Net Long term current liabilities + assets provisions Total net asset5 Intangible Tangible asset5 assets Investments At 31 December 2024: Unrestricted Revaluation General Designated 467,860 2,831 150,478 111,947 467,860 (30,462) 194,345 199,947 71,498 88,000 Total funds 2,831 730,285 159,498 130,4621 862,152 27. ANALYSIS OF NET ASSETS- CHARITY Net Long term current liabilities + assets provisions Total net assets Intangible Tangible assets assets Investments At 31 December 2024". Unrestricted Revaluation General Designated 467,860 133,467 111,947 467,860 126,797) 175,250 199,947 68,576 88,000 Total funds 713,274 156,576 126,7971 843,057 37
CURZON CLEVEDON COMMUNITY CENTRE FOR THE ARTS COMPANY LIMITED BY GUARANTEE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 (continued) 28. TOTAL CASH & CASH EQUIVALENTS Total cash & cash equivalents as at 31 December 2024 are represented as follows: Group 2024 Group 2023 Charity 2024 Charity 2023 Cash at bank Cash in hand 239,167 231,617 143,810 169,201 830 800 239,997 232,417 143,810 169,201 38
CURZON CLEVEDON COMMUNITY CENTRE FOR THE ART5 COMPANY LIMITED BY GUARANTEE NOTES TO THE CONSOLIDATED FINANCIAL ATEmENTs FOR THE YEAR ENDED 31 DECEMBER 2024 Icontinuedl 29. SUBSIDIARY COMPANY Curzon Clevedon Community Centre for the Arts owns the whole of the issued share capital of Curzon Community Cinema Limited (company number - 032554121, a company registered in England and Wales. The address of the registered office is 46 Old Church Road, Clevedon, BS21 6NN. Its principal activity is to operate the Curzon Cinema in Clevedon, North Somerset. All activities have been consolidated on a Sine by line basis in the Statement of Financial Activities. The total net profit is gifted to Curzon Clevedon Community Centre for the Arts. A summary of the results of the subsidiary is shown below: CURZON COMMUNITY CINEMA LTD.. 2024 2023 Turnover.. Box office Confectionery and bar sale5 Advertising Lounge bar Other 426,544 136,337 11,607 61,459 44,171 355,899 101,003 12,525 64,357 34,258 680, 118 568,042 Direct costs: 2024 2023 Film hire Confectionary and bar purchases Direct wages Other direct costs Cinema building expenses Administrative expenses Advertising 199,157 68,506 237,448 27,315 32,443 79,382 16,096 169,752 62,084 196,925 22,410 26,279 75,766 9,880 660,347 563,096 39
CURZON CLEVEDON COMMUNrrY CENTRE FOR THE ARTS COMPANY LIMITED BY GUARANTEE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Icontinuedl 29. SUBSIDIARY COMPANY (continued) Other operating income: 2024 2023 Furlough grants Insurance claims 2,925 Net Iloss}/profit 19,772 7,871 The ag8regate of the assets, liabilities and funds was: Assets Li3bilities/provi5ions 126,771 95,409 1107,672) 196,0821 Funds 19,099 {673)
CURZON CLEVEDON COMMUNrrY CENTRE FOR THE ART5 COMPANY LIMITED BY GUARANTEE NOTES TO THE CONSOLIDATED FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Icontinuedl 30. NET DEBT RECONCILIATION Anal sis of chan es in net debt for the Grou 2024 At start of year Ca5hflows Other non-cash changes At year end Cash at bank and in hand 232,417 7,580 239,997 Secured bank loan (falling due within l year) 153,372) 52,930 442 Other bank loans (falling due Within l yearl (5,9551 5,955 (5,9551 {5,9551 Other bank loans (falling due in Less than 5 years) 123,8201 123,8201 Other bank loans {falling due after 5 years) (8,9321 5,955 12,977) 140,338 66,465 442 207,245 41
CURZON CLEVEDON COMMUNITY CENTRE FOR THE ARTS COMPANY LIMITED BY GUARANTEE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Icontinuedl 30. DEBT RECONCILSATION Icontinuedl Anal sis of chan e5 in net debt for the Charit 2024 At Start of year Cashflows Other non-cash changes At year end Cash at bank and in hand 169,201 (25,3911 143,810 Secured bank loan (falling due within l year) 153,3721 52,930 442 Other bank loans (falling due Within l yearl 15,9551 5,955 15,955} 15,9551 Other bank loans (falling due in Less than 5 year51 123,8201 (23,8201 Other bank loan5 (falling due after 5 years) (8,9321 5,955 {2,9771 77,122 33,494 442 111,058 42
THE FOLLOWING PAGES DO NOT FORM PART OF THE STATUTORY ACCOUNTS OF THE COMPANY 43
CURZON CLEVEDON COMMUNITY CENTRE FOR THE ARTS COMPANY LIMITED BY GUARANTEE DETAILED CONSOLIDATED INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 INCOME Other grants and donations Box office income Confectionary and bar sales Advertising income Insurance claims Other cinema income Rental income Insurance recharged Bank interest received 49.042 426,544 197,797 11,607 41,574 355,899 165,360 12,525 3,425 43,971 56.919 49,010 51,206 12,636 354 1.035 798,196 680,708 Expenditure for the year (see page 45) 1794,8841 1717.5861 Surplus/lDeficitl for the year 3,312 136,8781 Funds brought forward 858,840 895,718 Funds carried forward 862,152 858,840
CURZON CLEVEDON COMMUNITY CENTRE FOR THE ARTS COMPANY LIMITED BY GUARANTEE DETAILED CONSOLIDATED INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 EXPENDITURE Costs of applying for grants and donations Film hire Confectionary and bar purchases Direct cinema costs Direct cinema wages Employers, NIC Employers, pension Freight and carriage Other costs of sales Staff salaries Training costs Rent General rates and water Light and heat Insurances Premises expenses Motor and travelling Telephone and internet Printing, stationery and postage Website maintenance and IT 5UPPOrt Equipment Entertalnment Repairs and renewals Legal and professional fees Accountancy and audit Bank and credit card charges PRSIPPL charges Laundry and cleaning General expenses Subscriptions and licences Advertisin8 NLHF Roof Professional Fees NLHF Activity Co-ordinator Other charitable expenditure Activity expense5 Activity resources Activity training Sundry expenses Depreciation Amortisation Bad debts written off Provision for deferred tax 1,206 199,157 68,506 16,680 220,134 13,240 4,074 126 5,996 30,480 1,585 1,922 169,752 62,084 14,999 186,099 7,455 3,371 126 5,668 23.472 2,610 325 2,900 20,615 17,202 9,657 499 1,547 449 2,307 2,448 385 10,343 46 255 23,642 14,943 7,522 230 1,458 1,569 2,071 941 15.033 323 7,068 27,782 7,267 28,159 1,881 5,208 16,096 420 30,885 4.245 23,362 6,839 9,880 8.524 6,879 2.108 5,593 1,523 477 140 58,494 1.329 280 1.743 66.250 944 4,638 794,884 717,586 45