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2023-03-31-accounts

REGISTERED COMPANY NO. 03739675 (England and Wales) REGISTERED CHARITY NO. 1075315

Report of the Trustees and the Unaudited Financial Statements for the year ended 31 March 2023 for The Film Place

Reid & Co Corporate Services Limited

Chartered Accountant Artemis House 4a Bramley Road Mount Farm Milton Keynes MK1 1PT

The Film Place

Financial Statements

Year ended 31 March 2023

Page
Trustees Annual Report 1 - 3
Statement of Financial Activities 4
Balance Sheet 5 - 6
Notes to the Financial Statements 7 - 9
Report of the Accountants 10
Detailed Statement of Financial Activities 11

The Film Place

Report of the Trustees for Year Ending 31[st] March 2023

The past year has been a challenging one for The Film Place, not least due to the continuing recovery from the Covid pandemic. However, when allowed, and with our new seating programme and ticketing to enable social distancing, we were able to provide a weekly film.

Once restrictions were lifted, we were able to open up more seating. The audience figures at this point proved the public was sceptical about social distancing, but thanks must go to the Joint Management Committee and volunteers who did all that was practicably possible to keep the public safe within the rules at the time.

One of the problems we were facing, was the ageing of our projection equipment and sound system. This was apparent in the degradation of picture and sound quality within our venue.

Investment in new equipment was necessary.

In November 2022 a lifeline was offered in the form of an invitation to use a new venue within the University at the Vinson Building where there is a purpose-built lecture theatre which offers modern surroundings with comfortable seating, a superior screen, sound and lighting facilities, together with an adequate storage area.

Investment was still required to update and replace some of our equipment in order for it to be compatible with the University’s set up. However, once all issues were dealt with, the University’s AV contractors (DWM) completed the installation. Various grants were applied for to assist with the expense, but only one proved successful.

Page 1

The Film Place

Report of the Trustees for Year Ending 31[st] March 2023

We had planned to open in July 2022 but a delay was experienced by the fact that it took time to apply and get permission for a Change of Use of the premises to allow public showings of films.

A new programme of dates was arranged, and initial film programme issued.

Our Opening weekend on 20 /21 October 2022 was a great success. Our audience figures have increased; however, the choice of film has a great impact on these figures plus the fact we are competing against the likes of Netflix, Sky, You Tube etc.

Agreement to take on Duke of Edinburgh students from local schools did not materialise as planned, which has left us short of volunteers, and in particular projectionists. We are in the process of recruiting and training more mature volunteers from our audience base.

The Film Place now features on The Winslow Community Bus website offering trips to The Film Place from various locations surrounding Buckingham. However, trials for this service have been received with a modicum of success.

Specialist films have been trialled, i.e., a Ukrainian film offered to the Ukrainian community was not a success but a film in Spanish appealed to some local schools who sent students to help with their Spanish studies.

Alcohol licenses to sell wine to customers have been withheld until summer due to restrictions by the University.

In conclusion, a good venue, audience figures are up, but must be maintained and sourcing of volunteers remains a priority.

Page 2

The Film Place

Report of the Trustees for Year Ending 31[st] March 2023

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number : 03739675 (England and Wales)

Registered Charity number : 1075315

Registered Office : Yeomanry House Hunter Street Buckingham Buckinghamshire MK18 1EG

Trustees:

J Tooley Vice-Chancellor University of Buckingham
M G Dalzell Retired
P Hoare Retired
M Pringle Retired
M White Retired
N Brash Semi-Retired Teacher
Company Secretary
M White Retired
Independent Examiner
Reid & Co
Artemis House
4a Bramley Road
Mount Farm
Milton Keynes
MK1 1PT

Approved by order of the board of Trustees on ………………………………. and signed on its behalf by:

……………………………………………………. M G Dalzell - Trustee

Page 3

The Film Place

Statement of Financial Activities for the year ended 31 March 2023

Page
INCOME AND ENDOWMENTS FROM
Donations and legacies
11
Charitable activities
The Film Place
11
Total
EXPENDITURE ON
Charitable activities
The Film Place
11
NET INCOME/(EXPENDITURE)
being net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 2023
2022
Unrestricted
Total
Total
funds
funds
funds
£
£
£
2,593
2,593
993
24,195
24,195
7,227
26,788
26,788
8,220
26,772
26,772
12,667
16
16
{4,447}
29,892
29,892
29,891
29,908
29,908
29,891

Page 4

The Film Place

Balance Sheet as at 31 March 2023

Notes
FIXED ASSETS
Intangible assets
4
Tangible assets
5
CURRENT ASSETS
Stocks
6
Debtors
7
Cash at bank and in hand
8
CURRENT LIABILITIES
Amounts falling due within one year
9
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
FUNDS
Unrestricted funds
10
TOTAL FUNDS		 2023
2022
Unrestricted
Total
Total
funds
funds
funds
£
£
£
-
-
-
1,294
1,294
1,074
1,294
1,294
1,074
325
325
398
442
442
421
28,344
28,344
28,567
29,111
29,111
29,386
497
497
568
28,614
28,614
28,818
29,908
29,908
29,892
29,908
29,908
29,892
29,908
29,908
29,892

Page 5

The Film Place

Balance Sheet as at 31 March 2023 (continued)

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The Trustees acknowledge their responsibilities for

These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to charitable small companies.

The financial statements were approved by the Board of Trustees on ….......................... and were signed on its behalf by:

….............................................

M G Dalzell - Trustee

Page 6

The Film Place

Notes to the Financial Statements for the year ended 31 March 2023

1 ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 (FRS 102) (effective 1 January 2015), Financial Reporting Standard 102 'Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery 25% on reducing balance Fixtures and fittings 25% on reducing balance

Stock

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

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the Trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Page 7

The Film Place

Notes to the Financial Statements - continued for the year ended 31 March 2023

2 NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting)

2023 2022
£ £
Depreciation - owned assets 470 358
Deficit on disposal of fixed assets 116 -

3 TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022. Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.

INTANGIBLE FIXED ASSETS
COST
At 1 April 2022 and 31 March 2023
DEPRECIATION
At 1 April 2022 and 31 March 2023
NET BOOK VALUE
At 31 March 2023
At 31 March 2022		 Development
costs
£
4,266
4,266
-
-

4 INTANGIBLE FIXED ASSETS

5 TANGIBLE FIXED ASSETS

COST
At 1 April 2022
Additions
Disposals
At 31 March 2023
DEPRECIATION
At 1 April 2022
Charge for the year
Disposals
At 31 March 2023
NET BOOK VALUE
31 March 2023
31 March 2022		 Plant and
Fixtures and
machinery
fittings
Total
£
£
£
2,650
8,046
10,696
130
676
806
1,061
-
4,607
-
5,668
-
1,719
4,115
5,834
2,239
7,383
9,622
135
335
470
1,005
-
4,547
-
5,552
-
1,369
3,171
4,540
350
944
1,294
411
663
1,074

Page 8

The Film Place

Notes to the Financial Statements - continued for the year ended 31 March 2023

6
STOCKS
Confectionery stock
7
DEBTORS
Trade debtors
Other debtors
Prepayments
8
CASH AT BANK AND IN HAND
Current account
Business premium account
Petty cash
9
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Accruals and deferred income
10
MOVEMENT IN FUNDS
Transfers
At
between
01/04/2022
funds
£
£
Unrestricted funds
General fund
29,892
-
Transfers
At
between
01/04/2021
funds
£
£
Unrestricted funds
General fund
34,339
-		 2023
2022
£
£
325
398
-
-
-
-
442
421
442
421
3,374
901
24,970
27,666
-
-
28,344
28,567
-
208
497
360
497
568
Net
movement
At
in funds
31/03/2023
£
£
16
29,908
Net
movement
At
in funds
31/03/2022
£
£
{4,447}
29,892

Page 9

Independent Examiners Report to the Trustees of The Film Place

Independent examiner's report to the Trustees of The Film Place

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2023.

Responsibilities and basis of report

As the charity's trustees of the Company (and also it's directors for the purposes of Company Law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act')

Having 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 examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

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:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Reid & Co Corporate Services Limited Chartered Accountant Artemis House 4a Bramley Road Mount Farm Milton Keynes MK1 1PT

Date….....................................................

Page 10

The Film Place

Detailed Statement of Financial Activities for the year ended 31 March 2023

INCOME AND ENDOWMENTS
Donations and legacies
Friends and patrons
Other donations and grants
Gift aid recoverable
Charitable activities
Ticket sales
Advertising income
Confectionery
Total incoming resources
EXPENDITURE
Charitable activities
Insurance
Postage and stationery
Marketing
Sundries
Film costs
Confectionery costs
Accountancy fees
Management fees
Licences
Subscriptions
Projectionists
Repairs and renewals
Online costs
Depreciation - Plant and machinery
Depreciation - Fixtures and fittings
Support costs
Finance costs
Loss on sale of tangible assets
Total resources expended
Net income/(expenditure)		 2023
2022
£
£
-
2,497
780
96
213
2,593
993
21,118
6,205
482
43
2,595
979
24,195
7,227
26,788
8,220
447
650
50
10
2,993
1,942
1,723
80
11,405
4,503
1,372
519
300
300
5,250
3,740
509
74
-
280
95
-
-
157
30
1,700
514
135
137
335
221
26,656
12,667
116
-
26,772
12,667
16
{4.447}

Page 11