Encounters Festivals Limited
(A company limited by gu•ralltee)
Report and Accounts
31 March 2023
Company regi5tralion number.. 03229078
Charity regislralion number.. 1058603

Encounters Festivals Limited
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023
The trnstees are pleased lo present their report together with the accounts of th¢ charity for the year ended 31
March 2023, which are also prcpared to mxt the requiremcnts for & directors, rcport and accounts for
Companies Act purposes.
The accounts comply with the Charities Aci 2011, the Companies Act 2006, the Memorandum and Articles
of Association, and Accounting and Reportii)g by Charities.. Statetnent of Recommended Practice applicable
to charities pr¢paring their accounts in accordance with the Financial Reporting Standard applicable in the UK
and Republic of Ireland {FRSI 02) (effective l January 2015).
Reference and Admillis¢rative Details
Charity Number..
Company Number:
Register¢d Office:
Principal Office-
1058603
03229078
61 Queen Square, Bristol, BS14JZ
Studio IA, 36 King Street. Bristol. BS14DZ
Bankers
National Westminstsr Bank plc
45-49 Broadmead
Bristol
BSI 3EU
Directors and Trnstees
The directors of the Charitable company ('the charity") are its trustees for the purpose of charity law and
throughout this report are collectively referr¢d to as th¢ trnstees.
The trustees serving during the year and since the y¢&r-¢nd w¢re as follows..
Chair= Simon Perry (Industy Consultant)
Freya Billington {boomsatsuma)- Resigned 29 October 2023
Natalie Collier (Aardman Animations)
Steven Coombe (Burnside, Cliartered Accountants)
Emma Grazette (Freelance Filtn and TV Producer)- Appointed 8 June 2023
Euella Jackson (Freelance Creative Producer}
Mark Hewis (Aardman AniTnalion5, Animation Prcxiucer)- Appointed 8 Jun¢ 2023
Lisa Howe (Independent ConsultanE)- Resigned l January 2023
Jessi¢a Loveland (BBC Writers Room)
Will Massa (Independent Consultant)
Natalie Moore (Brislol City Council, Local Government Manager)- Appointed 8 June 2023
James Mullighan (Independent Producer)- Resigned l January 2023
Alison Si¢rling (Ignition Films)- Resigned l January 2023
Liz Warren {Live Cinema)- Resigned 14 November 2023
Man
ement Personnel.. Festival Dir¢¢tor
Rich Wa￿en- Resigned l November 2023
Bizzy Day- Appointed l May 2023

Encounters Festivals Limited
Inde
endent Examiner
Philip Bany FCA
Hollands Accountancy Limited
Accountants
Burnside, Chartered Accountants
Structure, Governance and Management
Governin
Document
Encounter5 Festivals Limited is a company limited by guarantee governed by its Memorandum and Articles
of Association incorporated on the 24 July 1996. It is registered as a charity with the Charity Commission ( I I
Octobcr 1996). There are currently 9 members { I l in 2022), each of whom agrees to contribute £10 in the
event of the charity winding up.
intment of TrLbStees
Suggestions for new ttustees are discussed at the Board Meetings and if agreed, invitations are issued.
Trustee Induction and Trainin
New trustees are introduced to the charity staff and fellow trustees at a board meeting and are provided with
background information {including minutes of previous meetings, budgets and other documents such a5 the
Memorandutn and Articles of Association)-
anisation
The board of trustees administers the charity. The board tneets several times a year who together with the
Festival Director and th¢ stsff, tneet to discuss progratnming and sponsorship sugg¢stions for the f¢slival. To
facilitate effective operalions, the Festival Director has delegated authority, within tem)s of delegation
approved by the trust¢¢& for operational matters including finance, employment and artistic perfomiance
related activity-
Related Parties
None of our trustees receives remuneration or other b¢n¢fit from their work with the charity. D¢tails of
transactions with related parties are disclosed in note 16 to the accounts on page 17.
Risk Mana
ement
Management accounts are presented and scrutinised at each board meeting (415 per annum) with financial
implications highlighted and discussed. Potential problem areas that become apparent are carefully monitored.
The trustees have asscssed the major risks to which the charity is exposed, in parti¢ular, those related to the
operations and finances of the charity and are satisfied that systems are in place to miligale exposure to major
risks.
Objectives and Activities for the Public Benefit
Brief En¢ounl¢rs - Bristol's annual celebration of the short film genr¢ was first held in O¢tob¢r 1995 - and
managed entirely by th¢ Watershed. Following the success of this first festival, it was decided to establish this
¢harity with the object of arranging and managing all future short film festivals and since then an annual short
film festival has been held at the Walersh¢d and oth¢r venues nearby. Accordingly, the charity was
in¢orporated as a ¢ompany limited by guarant¢¢ on 24 July 1996. In 2000, the first Animated En¢ounters
Intemational Animation Festival was organised and run by Encounters Festivals.
The Encounters Board took the d¢¢ision to combine the two festivals for the 2006 edition. There was a change
of name and the festival became known as 'Encount¢rs Short Film and Animation Festival,.
The objects of the charity are to promot¢, maintain, improv¢ and advance education by the encouragement of
the Arts with particular reference to the making, distribution and exhibition of films and other recorded
pernianent or semi-pemianent media wh¢r¢by sound, vision, or both may be communicated or preserved.

Encounters Festivals Limited
Given that the charity promotes the advancement of the arts and is open to the majority of the public. the
Trustees are satisfied that the charity meets the requirements of being for the public benefit.
Achievements and PerforniaDce
The 2022 Encounters Festival returned to being delivered as a physical event. The festival took place in
Bristol from 27 September to 2 October 2022, off¢ring a ¢ulturally and geographically diverse programme of
short films and animations from Europ¢ and around the World as part of the 28th Encounters Festival.
The festival hosts one of the world's leading international competitions for visual storytelling and acts as an
official gateway to the world's most pr¢sligious awards. th¢ A¢ademy Awards@, BAFTAS, BIFA'S and the
European Film Awards. Connecting industry and audiences. th¢ festival ¢elebrates the creativity. diversity,
and the impact of short film. Encount¢rs is a springboard for audiences to discover new and emerging talent
and for artists to progress, exchange knowledge, infomi and learn within th¢ evolving global iThdustry.
As part of the festival, Encounters scr¢¢n¢d 353 films and host¢d thirty-five events and 8 networking events
to a combined &udien¢e of10,041.
There were several feature film s¢r¢¢nings from firsl-tim¢ feature film directors as part of the
Shorts2Features strand providing case studi¢s of filmmaker's journeys from ihe short to long form as well as
a focus on innovation with Virtual Reality, Augm¢nl¢d Reality, 360-degree filmmaking and other immersive
platfomis showcased.
This activity sat alongside our intensive programme of maste￿1a$SeS, panels and workshops for participating
filmmaker5 and industry delegates which focused on career pathways and the use of digital technologies to
increase audience participation and engagement.
The festival also ran Reflective Encounters, a film literacy initiative in which new and emerging film critics
write short thought pieces for each of the film screening in cornpetition.
The physical festival was a¢¢otnpani¢d by digital screenings for thos¢ who Could not attend.
In addition lo the festival, Encounters ran de¢entralised a¢tivity throughout the year locally, nationally and
int¢rnationally through onlin¢ s¢r¢¢ning5, touring programm¢s, workshops and new festival collaborations to
promote new talent, increase film literacy and expose new audiences to the content showcased and
championed by the festival. Below ar¢ a few examples of initiatives in this area.
Chinese Female Filmmaker Fo¢us
For the past 2 years, in partnership with th¢ One Women International Film Festival, we have been
mentoring a group of Chinese female filmmakers in ¢reating new short film content supported by the British
Council. In October, to coincide with the production of this year's cohorts films we hosted an online
showcase and Q&A of the 2021122 films.
In Dreams Are Monsters
Encounter5 presented a curated touring programme of international, contemporary short films around the
theme of 'The Politicise B(yJy' to coincide with the In Dreams Are Monsters national activity. After a launch
event during the Encounters Film Festival in Bristol at Watershed, w¢ off¢red Ih¢s¢ shorts as both a touring
progrydmme and for individual screenings before feature films taking part in this season. Each film was given
a presence on our website with short thought pieces and director Q&A's included to support venues
promotion and marketing of the events.
Tourin
Pro
ramme
Our touring programme included screenings in Bristol at Watersh¢d as we look¢d to develop a local
audience. Programmes included..
Urban Spaces- a programme exploring city landscapes through short film-
Closer Together- short films made by Deaf talent and ¢xplorin(y Deaf culture during Deaf
Awareness week. and

Encounters Festivals Limited
Queer Joy - shorts celebrating Queer stories as part of Pride month.
Ukrain¢ Pro
ratnine
We continued to tour our Ukrainian fundraiser programme. curated last year. to show solidarity with all
proceeds being donated to Ukrainian Red Cross.
Deaffest
We partnered with Deaffest to deliver the online offer for their annual festival. As part of the partnership, we
were able to take on board all operational asp¢¢ts of the online off¢r and support their audience in accessing
the films remotely. These films were offered for free to the audience for 10 days once they had registered on
the platform. We achieved over 2,000 views across the 30+ titles on offer to the Deaffest audience.
Alongside advice sessions with the wider film, f¢stival and cultural community and maintaining a presence
on the national and international film festival Circuits, Encounters also lead on fotTnal and informal, national,
and international networks sharing best practice and exchanging knowledge including International Short
Film Conference, Eurofest Xll Film Festival Alliance, Alliance of British Animalion Exhibitors, UK Short
Film Network and Bristol Festiv&ls.
The Charity receive5 funding. in-kind and cash sponsorship from several different sources who include the
British Film Institute, Bristol City Council, West of England Combined Authority, British Council, Innovate
UK, Aardman Animations, the University of the West of England and the University of Bristol.
Financial Review
The overall income was £363,348 compared to £341,655 in the previous year. This resulted in a loss for the
year of £34,659 compared to aloss last year of £33,063. The trustees would like to thank all donors and staff
for their continued support and efforts.
The loss for the year was budgeted for as part of a 3-year plan post COVID-19 to return the charity lo
profitsbility by 2023124.
Volunteers
The charity is grateful for th¢ efforts of the volvnt¢¢rs who assisl in the offic¢ and help with the running of
the festivals. Due to the festival returning to being delivered as a physical event the utilisation volunteers
w&s greatly increased in th¢ year.
It is estimated that the charity benefited from approximately 582 (2022.. 32) volunteer hours during the year.
If this is valued at the UK living wage £9.50 per hour, the volunteer efforts amount to £5,529 {2022= £300 at
£9.50 per hour)-
In accordance with FRS102 and the Charities SORP (FRS102), the economic contribution of general
volunteers is not recognised in the accounts.
Reseryes Policy
The trustees have reviewed the reserves of the charity. A policy was previously set which reflected the wish
to safely commit as Inuch as possible to the promotion of Bristol as a centre of International Media excellence
whilst retaining financial stability and the potential lo respond to new opportunities. The truste¢s agreed that
holding unrestricted reserves equivalent co approximately 12 months unr¢stri¢ted expenditure would meet this
policy. Unrestricted res¢rv¢s at 31 March 2023 were £74.529 (2022.. £65,379) representing 9 (2022.. 8) months
of unreslri¢t¢d expenditure.
The 3-year ptan referred to al)ove was approved by the trustees and put in place during the prior year to utilise
certain brought forward reserves to assist the charity as it moves forward from the COVID-19 pandemic.

Encounters Festivals Limited
Plalls for Fut￿re Development
We will continue lo capitslise on the kst elements frotn each festival and develop the new festival with a
ttew image and a fresh vibrancy with a focus on being a ptatforni for discovering and developing n¢w talent
in short film and animatioft.
We also continue lo explore year-round activity, both industry facing and audience facing to increase our
year-round presence, further our relevance within the moving image sector and increase our ability 10
generate income beyond the festival dates.
The 2023 Encounters Feslival was delivered as a physical event. The festival took place in Bristol from 27
September to l October 2023 and will be reported on in the Report and Accounts for the year ended 31
March 2024.
Trustets, Responsibilities in Relation to the Accounts
The trustees (who are also the directors of the charity for the purpose5 of company law) are responsible for
preparing the Report of the Trustees and the accounts in accordance with applicable law and regulations.
Company law requires the trustees to prepare aceounts for each financial year in accordance with United
Kingdom Generally Accepted Accounting Practice (United Kingdom Accounling Standard5 and applicable
law). Under company law, the trustees must not approve the financial Statements unless they are satisfied that
they give a true and fair view of the state of affairs of ihe charitable company and of its incotning resources
and application of resources, including the income and expenditure of the charitable company, for that period.
In preparing these accounts, the trusiees are required to..
select suitable accounting policies and then apply them consistently.
observe the methods and prin¢iples in th¢ Charities SORP.
make judgements and estimates that are reasonable and prudent-
slate whether applicable UK accounting standards have been followed, subject to any material departures
disclosed and explained in the accounts. and
prepare the accounts on th¢ going concern basis unless it is inappropriate to presume that the charity will
continue in business.
The trustees are responsible for keeping adequate accounting records that are sutticient to show and explain
the charitable company's transactions and disclose with reasonable accuracy at any time the financial position
of the charitable company and enable thetn to ensure that the accounts Cotnply with the Companies Act 2006.
They are also responsible for safeguarding the assets of the charitable company and h¢nc¢ for taking
reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of ihe corporate and financial inforn)ation
included on the charitable company's website. Legislation in the United Kingdom goveming the preparation
and dissemination of financial stateEnents may differ from legislation in oiher jurisdictions.
On behalf of h¢ board:
Steven Coombe
Trustee
Date.. 19 D¢¢¢mb¢r 2023
The report of the trustees has b¢¢n prepared in accordance with the small company regime (Section 419(3) of
th¢ Companies Act 2006).

Encounters Festivals Limited
IJYDEPENDENT EX4MINER'S REPOR T TO THE TRUSTEES OF ENCOUNTERS FESTJVALS
LIMITED
I report on the accounts of Encounters F¢slivals Limited ("Ihe Charity") for the y¢ar ended 31 March 2023.
which comprise the Statement of Financial Activities, th¢ Balan¢¢ Sheet, the Statem¢nl of Cash Flows and the
related notes.
Respective responsibilities of truslees 2nd examiner
As the charity's trustees (and the directors of the company for the purposes of company law). you are
responsible for the preparation of the accounts. You consider ihat an audit is not required for this year under
section 144 of the Chariti¢s Act 2011 (th¢ 2011 Act) aTrd that an ind¢pcndent ¢xamination is ne¢d¢d. You also
consider that an audit is not required for this year under the Companies Act 2006, Part 16.
Havin8 satisfied myself that th¢ Charity is not subject to audit under company law and is eligible for
independent examination, il is my responsibility to examine the accounts under s¢¢lion 145 of the 201 l Acl,
follow the procedures laid down in the g¢n¢ral Dir¢clions giv¢n by th¢ Charity Commission under section
145(5Kb) of the 2011 Act, and state whether particular matiers have come lo my att¢ntion.
Basis of independent examiner's repor¢
My examination was carried out in ac¢ordan¢e with the general Directions given by the Charity Commission.
An examination includes a review of the a¢counling rrcords kept by the Charity and a comparison of the
accounts presented with ihose r¢¢ords. It also includes consid¢ration of any unusual items or disclosures in
the accounts and seeking explanations from you as trustees concerning any such matters. The pro¢edur¢s
undertaken do not provide all the ¢vid¢tic¢ that would be required in an audit and consequently no opinion is
given as to whether the accounts present a 'tru¢ and fair view, and the report is limited to those tnatters set out
in the statement below.
IndependeDt examiner's statement
The charity's gross income exceeded £250,000 and l am qualified to undertake the examiiiation by being a
qualified member and Fellow of the Institute of Chartered Accounlants in England & Wales.
I hav¢ completed my examination. I conlim that no matters have ¢om¢ 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 section 386 of the 2006
the accounts do not accord with those records- or
the a¢¢ounts do not Comply with the accounting requirements of section 396 of the 2006 Act other
than any requirement that the accounts giv¢ a 'tru¢ and fair view which is not a matter consid¢r¢d as
part of an independent examination. or
the accounts have not been prepared in accordance with ihe methods and principles of the Statement
of R¢commendcd Practice for accounting and reporting by charitie5, appli¢abl¢ to charities
preparing their financial statements in accordance with the Financial Reporting Standard applicable
in the UK and Republic of Ireland (FRS 102).
Your attention is drawn to the paragraph on going ¢on¢¢rn in Note 2 to the accounts on page I I regarding
recent ¢vents.
Name: Philip Barry
19 December 2023
Relevant professional qualification or body.. FCA
Address.. Hollands Accountancy Limited, I l & 13 St Thoma5 Square,
Monmouth, United Kingdom. NP25 SES.

Encounters Festivals Limited
ST ATEMENT OF FINANCIAL ACTIVITIES {INCLUDING llYCOMK AND EXPEIYDITURE
ACCOUND
for the Year Ended 31 March 2023
Total
Funds
2023
Tolal
Funds
2022
Unrestricted Restricted
Funds
Funds
Nole
INCOME FROM:
Donated services and facilities
84,700
84.700
82,680
Investments
86
86
Charitable activities
101,791
176.771
278.562
258,966
TOTAL INCOME
101,877
261,471
363,348
341.655
EXPENDITURE ON:
Raising funds
(3,723)
(6,915)
(10,638)
(11,478)
Charitable activities
(89,004)
(298,365)
(387,369}
(363,240)
TOTAL EXPENDITURE
305 280
398,007
374 718
Net (expenditureyincome before
transfers
9,150
(43,809)
(34.659)
(33,063)
Transfers
Gross transfers between funds
13,14
Net movement in funds
9,150
43.809
34,659
33,063
R¢¢on¢iliation of funds
Total funds brought fotward
Total funds carried forward
111803
77,144
144,866
111,803
74,529
2,615
The stat¢m¢nt of financial activities include5 all gains and losses recognis¢d in the year, tog¢th¢r with retained
earnings of ¢a¢h fund at the beginning and end of the year. There was no other comprehensive in¢ome in either
y¢ar.
All in¢ome and expenditure derive from continuing activities.
The notes on pages 11 to 17 form part of these 4ccounts

Encounters Festivals Lirnited
BALANCE SHEET
at 31 March 2023
Registered Numb¢r'. 03229078
2023
2022
Note
FIXED ASSETS
Tangible assets
10
2.792
CUIiRENT ASSETS
Debtors
Cash at batik and in hand
63,699
51,042
144 881
195,923
105.303
CREDITORS: amounts falling due within one year
12
(29.555)
(86,912)
Y4ET CURRENT ASSETS
NET ASSETS
77,144
111,803
FUNDS
Unrestricted Funds
Restricted Funds
13
14
74,529
2,615
65,379
46,424
TOTAL CHARITY FUI¥DS
77,144
111,803
The company is exempt from the requirements relating to preparing audited accounts in accordance
with section 477 of the Companies Act 2006;
The members have not required the cotnpany to obtain an audit ofils accounts for the y¢ar in question
in accordance wish Seciion 476 of the Companies Act 2006;
Th¢ dire¢tors acknowledge their responsibility lor complying with the requir¢m¢nts of this act with
respect lo accounting records and preparation of accounts; and
Th¢s¢ a¢¢ounts have b¢¢n preparcd in accordancc with th¢ special provisions of Part 15 of the
Companies Act relating to small companies and constitute the annual &c¢ounts required by the
Compani¢s Act 2006 and are for ¢ir¢ulation to members.
Approved by the trustees on 19 December 2023 and sign¢d on their behalf by
Steven Coombe
Trustee
The notu on pages 11 to 17 form part of these aceounls

Encounters Festivals Limited
STATEMENT OF CASH FLOWS
for the Year Ended 31 Mar¢h 2023
2023
2022
CASH IUSED IN) IGENERATED FROM
OPERATING ACTIVITIES
Nel movem¢nt in funds
Add back depreciation charge
{Increase)Id¢¢r¢ase in debtors
In¢reas¢/(decr¢ase) in creditors
(34,659)
1,396
(12,657)
(57,357)
(33,063)
1.627
(30,012)
44,881
NET CASH (USED IN) IGENEtL4TED FROM
OPEIUTING ACTIVITIES
(103,277)
(16,567)
CASH FLOWS FROM INVESTING ACTIVITIES
Pur¢has¢ of tangibl¢ fixed assets
CASH USED IN INVESTING ACTIVITIES
INCREASE IN CASH AND CASH EQUIVALENfs IN
THE YEAR
(103,277)
(16.567)
Cash and cash equivalents at th¢ b¢ginning of the year
144,881
161,448
TOTAL CASH AIYD CASH EQUIVALENTS AT THE
END OF THE YEAR
41,604
144,881
The notes Dn pages 1 I to 17 forni part of these g4ccounts
io

Encounters Festivals Limited
NOTES TO THE ACCOUNTS
for the Year End¢d 31 March 2023
COMPANY STATUS
The company is limited by guarantee and do¢s not have share ¢apital. It is in¢orporated in England
and Wales. The liability of each guarantor is limited to £1 O in the event of a winding up. The principal
place of business and registered office are dis¢losed in the Report of the Trustees.
ACCOUNTING POLICIES
The principal accounting poli¢ies adopted, significant judg¢m¢nls and key sources of estimation
uncertainty in the prepardtion of the accounts are as follows:
Basis ofpreparnlion
The accounts have been prepared in Sterling round¢d to the nearest pound and in accordance with
Accouiiling and Reporting by Chariti¢s.' Siat¢m¢nl of R¢commend¢d Pra¢lic¢ applicable to ¢harities
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK
and Republic of Ireland {FRS102) (effeeliv¢ l January 2015) - (Charities SORP FRS102), the
Financial Reporting Siandard applicable in the UK and Republic of Ireland (FRS102), the Companies
Act 2006 and the Charities Act 2011. The company meets the definition of a public benefit entity
under FRS102. Assets and liabilitl¢s are initially recognised at historical cost or trdnsaclion value
unless othenvise stated in the relevant accounting policy notes.
Preparation ofihe accounls ￿ a goimg concern
The trustees recently received notification of the withdrawal of funding from two main funders which
poses material uncertainties about the charity's ability to continue as a going concern after 2024125.
The trusl¢¢s are currently undertaking a review of the charity's future operations and funding
opportuniti¢s and have takcn measurcs lo significantly ￿dUce ongoing cosis. The trusl¢¢s have a
reasonable ¢xpeclation that the charity will have sufficient funds to deliver a festival in 2024 and be
able to pay its debts as and when ihey fall due in th¢ 12 monihs from signing these a¢counts. The
trustees therefore wntinue lo adopt the going ¢onc¢rn basis of a¢¢ounting in preparing the a¢counts.
Tangiblefixed assets
Individual assets costing £500 or mor¢ are capilalis¢d at cost. Tangible fixed assets are depreciated on
a straight-line basis over their estimated usefvl lives as follows..
Equipment
250/
Debiors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered.
Accrued incotne is valued at the amount expected to be received. net of any trade discount offered.
C￿h a¢ bank and in liand
Cash at bank and cash in hand includes eash and deposits held on call at banks.
Crediiors andprovi&ions
Creditors and provisions are recognised where the charity has a present obligation resulting from a
past ¢vcnl that will probably result in the transfer of funds lo a tl)ird party aiid the atnount due to settle
the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised
at their settl¢ment amount after allowing for any trade discounts due.
Financial iAslrumen15
Th¢ charity only has financial assets and financial liabilities of a kind that qualify as basic financial
instrum¢nts. Basic finan¢ial instruments are initially re¢ognis¢d at transaction value and subsequ¢ntly
measured at their settlement value. The charity has no financial instruments measured at amortised
cost.

Eneouniers Festivals Limited
NOTES TO THE ACCOUNTS
for the Year Ended 31 March 2023
ACCOUNTING POLICIES (continued)
Income
Income derived frotn charitable activities is stated after trade discounts, other sales taxes and net of
VAT.
Donrtlions ondgrants
Income froin donations and grant5, including capital grdnls, is included in incotning resources when
these are receivable, except as follows..
When donors specify that donations and grants given to the charity musi b¢ used in future
accounting periods, the income is deferred until those periods.
When donor5 impose condition5. which have to be fulfillcd bcforc the ¢harity becomes
entitled to use such income, the income is deferred and not included in incoming resources
Iintil the pre-conditions for use have been met.
When donors specify that donations and grants, including capital grants, are for particular restricted
purposes, which do not amount to pre-coiiditions regarding entitlement, this in¢om¢ is included in
incoming resources of restricted ￿ndS when receivable.
Box office income,film submissions income and adverlising andpropno¢ion income
These fomis of income are recognised on an accruals basis and are recognised in the year in which
the Festival. to which the income relates, tskes place.
Donllledservices andfacilities
Donated seryices and facilities are included in income at a valuation, which is an estimate of the
financial cost IM)rne by the donor where such & cost is quantifiable and measurable. No income is
recognised when there is no financial cost borne by a third party.
Inlerest receivable
Inierest is included when receivable by the charity.
Resources expended
ReSou￿¢S expended are included in the Statement of Financial Activities on an a¢¢ruals basi4
inclusive of any V AT, which cannot be recovered.
Certain exp¢nditur¢ is directly attributable to specific activities and has been in¢luded in thos¢ cost
categories. C¢rtain other ¢osts, which ar¢ attributabl¢ to more than one activity, are apportioned across
cost eat¢gori¢s on the basis of an estimate of th¢ proportion of time spent by staff on those a¢tivities.
Charitable activities includ¢ expenditure associated with the staging of the film festivals and include
both the dire¢t Costs and support costs relating to th¢s¢ activities.
Governance costs include those incurred in the governance of the charity and its assets and are
primarily associat¢d with constitutional and statutory r¢quirement.
Pension costs and oiherpost-relirement benefits
The charity makes contributions to defined contribution pension schemes and these are charged to
charitable activities as they become payable accordance with the rules of thc sch¢m¢. Differences
between contributions payable in the year and those actually paid are shown as either accruals or
prepayments in the balance sheet.
12

Encounters Festivals Limited
NOTES TO THE ACCOUNTS
for the Year Ended 31 March 2023
ACCOUNTING POLICIES (continued)
Foreign Currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling
at the balan¢e sh¢et dal¢. Transactions in foreign curr¢n¢i¢s ar¢ translated into sterling at the rate of
ex¢hang¢ ruling at the dale of the transaction. Exchange differences are taken into account in arriving
at the net income of the charity.
FMndAccounling
Funds held by th¢ charity are-.
UNrestricled general fvnds
these are funds. which can be used in accordan¢e with the
charitable objects at the discretion of the trustees.
Reslriciedfup￿s - these are funds that can only be us¢d for particular restricted purposes
within the objects of th¢ charity. Restri¢tions arise when specified by the donor or when funds
are raised for particular r¢stri¢t¢d purpos¢s.
CORPORATION TAX
The charity, which is a registered charity, is not liable to corporation tax on the net revenue from its
primary activity or investment income to the extent that these are applied to its charitabl¢ objects.
INCOME FROM DONATED SERVICES AND FACILITIES
Gifts in kind are analysed into the following itetns..
2023
2022
Festival programme
Mark¢ting
43,500
41,200
84,700
72,680
10,000
82,680
INCOME FROM CHARITABLE ACTIVITIES
2023
2022
Unrestricted
R¢stricl¢d
Unrestricted
Restricted
Sponsorship
Grants and donations
r¢¢¢ivable
Festival box office income
Film submissions
Advertising, promotion
and other
16.100
7,333
160.671
178,252
24,508
68,958
3,593
69,336
8,325
101.791
452
73.381
176,771
185,585
13

Encounters Festivals Limited
NOTES TO THE ACCOUNTS
for the Year Ended 31 March 2023
EXPENDrruRE ON RAISING FUNDS
Expenditure on raising funds consists of a percentage of the Festival Director's salary, to reflect the
time spent raising funds, together with the Cost of external fundraisers.
2023
2022
Exp¢t]diture on raising funds
10,638
11,478
EXPENDITURE ON CHARITABLE ACTIVITIES
Festival expenditure does not involv¢ any grant making a¢tiviti¢s.
2023
2022
Unrestricted
Restricl¢d
Unrestricted
Restricted
Staff costs
Artislic programme
Marketing
Stationery and
subscriptions
Administration serviccs
Governance costs (see
note 8)
Sundry
Bad or doubtful d¢bts
51,517
95,673
145,143
48,717
51,730
96,070
161,703
l4,034
1,320
32,992
30,137
550
3,140
35
5,000
2,645
360
4,500
3,832
298,365
89,004
86,383
276,857
Administrative services are shown net of foreign currency gain of £727 for the year (2022 - Ioss
£640) and includes rent of £9,276 (2022 £6,934).
GOVERNANCE COSTS
2023
2022
Legal fees
Bookkeeping fees
Accountancy fees
Independent examiner's fees
120
2,970
4,000
1,050
8,140
100
2,545
3,500
1,000
7,145
Net incoming resources for the year
2023
2022
This is stated after charging:
Depreciation
1,396
1,396
1,627
1,627
14

Encounters Festivals Limiled
NOTES TO THE ACCOUNTS
for th¢ Year Ended 31 March 2023
STAFF COSTS, TRUSTEES, REMUNERATION AND EXPENSES AND THE COST OF
KEY MANAGEMENT PERSOIYEL
2023
2022
Wages and salaries
Employers pension contributions
Social security costs
148,138
2,584
7,106
157,828
149,590
2,497
7,191
159,278
No etnployee eamed more than £60,000 per annum.
The charity truste¢s w¢re not paid and did nol r¢ceive any oth¢r benefits from employment with th¢
charity in the year (2022 £nil). The trust¢es ar¢ only reimbursed for expenses relating to the
attendance of meetings in Bristol which amount¢d to £1,527 for the year (2022 - £823).
Certain staff are supplied by employment agencies at prevailing market rates.
The key management personnel of the charity comprise the trustees and ihe Festival Director. The
total employment benefits of the key management personnel for the year were £40.911 (2022
£44,144).
The average monthly headcount was 5 staff (2022 - 5 stsffl and the average numb¢r of full-titne
equivalent employees (including casual and part-time staffy during the year was made up as follows=
2023
2022
Management and administration
io
TANGIBLE ASSETS
Equipment
Cost
At l April 2022
Additions
At 31 March 2023
14,099
14,099
Depreciation
At l April 2022
Charge for the year
At 31 March 2023
11.307
1.396
12.703
Net Book Value
31 March 2023
1.396
31 March 2022
15

Encounters Festivals Limited
NOTES TO THE ACCOULYrs
for the Year Ended 31 March 2023
li
DEBTORS
2023
2022
Trade and other debtors
Accrued incom¢
11,391
37,563
2.088
51,042
62,440
1,259
63,699
VAT
12
CREDITORS.. amounts falling due within one year
2023
2022
Trade creditors
Accruals and deferred income
Oiher taxes and Social Security
Pension liability
3,188
25,055
955
357
29,555
16,329
67,124
2,940
519
86,912
At 31 March 2023 the charity had a rental commitment of £l,S00 falling due within one year
(2022 - £2.750).
13
UNRESTRICTED FUNDS OF THE CHAIUTY
CURREKf YEAR
Atl
April
2022
In¢oming
R¢sourc¢s
Outgoing
Resources
Transf¢r to
r¢stricted
funds
At31
March
2023
Unrestricted generdl fund
65,379
101,877
(92,727)
74,529
PREVIOUS YEAR
Atl
April
2021
Incoming
Resources
Outgoing
Resources
Transfer to
restrict¢d
funds
At31
March
2022
Unrestricted general fund
82,389
73,390
90,400
65,379
14
RESTRICTED FUNDS OF THE CHARITY
CURRENT YEAR
Atl
April
2022
Incotlling
Resources
Outgoing
Resources
Transfer
from
unrestri¢t¢d
funds
At31
March
2023
Festival fund
261471
305,280
2,615
16

Encounters Festivals Limited
OTES TO THE ACCOUNTS
for the Year Ended 31 March 2023
14
RESTRICTED FUNDS OF THE CHARITY {colltinued)
PREVIOUS YEAR
Atl
April
2021
Incoming
Resource5
Outgoing
Resources
Transfer
fro
unrestricted
funds
At31
March
2022
F¢stival fund
62,477
268,265
284,318)
46,424
15
AIYALYSIS OF NET ASSETS BETWEEN FUNDS
CURRENT YEAR
Unrestri¢t¢d
fund
Restricted
fund
Total
Tangible fixed assets
Cash
Other net current assetsl (liabilities)
Net assets
1,396
38.989
34,144
74,529
1,396
41.604
34.144
77,144
2,615
2,615
PREVIOUS YEAR
Unr¢stri¢ted
fund
Restri¢t¢d
fund
Total
Tangible fixed assets
Cash
Other net current (liabilities)
Net assets
2,792
83,563
20,976
65,379
2.792
IH,881
35,870
111,803
61,318
14,894
46,424
16
RELATED PARTY TRANSACTIONS
The charity entered into the following transa¢tions during the year, which r¢quire disclosure under
FRSIO2..
Organisation
Trustee's nam¢
Trdnsaction
type
Incomel(expens¢s) during the year
2023
2022
Aardman Animations
N Collier
Sponsorship
Artistic
6,000
6,000
Limina Immersive
Ltd
C Allen
programme
Nil
(20,000)
At 31 March 2023 £Nil (in¢luding VAT) (2022 - £7.200) was owed to th¢ charity by Aardman
Animalions Limited and £Nil (including VAT) (2022 - £12.000) was owed by the charity lo Limina
Immersive Ltd.
17