Trustees Report and Financial Statements
FilmBath LTD
For the year ended 31st March 2021
FILMBATH LTD (a company limited by guarantee)
REFERENCE & ADMINISTRATIVE DETAILS OF THE CHARITY
ITS TRUSTEES & ADVISERS
for the year ended 31 March 2021
Trustees
Margaret Heffernan Ken Littlewood Murray Kenneth Rebecca Renfro Martin Haigh Tara Bennett Roger Griffith
Company registered number
3400371
Charity registered number
1080952
Registered office
4 Chapel Row Bath BA1 1HN
Company secretary
Mr Murray Kenneth
Bankers
CAF Bank West Malling Kent ME19 4TA
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FILMBATH LTD (a company limited by guarantee)
TRUSTEES' REPORT
for the year ended 31 March 2021
The Trustees (who are also directors of the charity for the purposes of the Companies Act) submit their annual report and the financial statements of FilmBath Limited (the company) for the year ended 31 March 2021. The Trustees confirm that the annual report and financial statements of the company comply with current statutory requirements, the requirements of the company's governing document and the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" issued in March 2005.
STRUCTURE, GOVERNANCE AND MANAGEMENT
a. CONSTITUTION
The company is a charitable company limited by guarantee and was set up by a Memorandum of Association on 8 July 1997.
It was registered as a charity on 5 May 2000 under an amended Memorandum of Association and is governed under its Articles of Association.
The principal object of the company is to organise and promote FilmBath (previously FilmBath) and other educational and cultural events for the benefit of the public.
b. METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES
The management of the company is the responsibility of the Trustees who are elected and co-opted by an ordinary resolution of the Board of Trustees and ratified at the AGM.
c. ORGANISATIONAL STRUCTURE AND DECISION MAKING
There are currently nine trustees who meet regularly during the year and administer the charity. They and the management team are responsible for operational decisions and strategy.
OBJECTIVES AND ACTIVITIES
a. POLICIES AND OBJECTIVES
The charitable company was formed to incorporate the activities of FilmBath (previously FilmBath); its policies and objectives are to:
-
1) show films and film-related events in Bath and North East Somerset (B&NES);
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2) supplement and enhance current cinema provision in B&NES;
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3) reach and develop new audiences;
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4) make the cinema experience unique, memorable and fun;
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5) communicate enthusiasm for film;
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6) provide structures and resources to deliver the above.
In shaping and planning our objectives, the trustees have considered the Charity Commission's guidance on public benefit, including the guidance on public benefit and fee charging. FilmBath relies on grants, sponsorship and the income from ticket sales to cover its operating costs. In setting the level of ticket sales and concessions, the trustees give careful consideration to the accessibility of the Film Festival for those on low incomes.
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FILMBATH LTD (a company limited by guarantee)
b. ACTIVITIES FOR ACHIEVING OBJECTIVES
The activities for achieving the objectives are:
1) mounting an annual festival of film and cinema-related activities in Bath;
2) developing an outreach programme of events taking place throughout the year;
3) collaborating regularly with other arts providers and creative partners.
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FILMBATH LTD (a company limited by guarantee)
ACHIEVEMENTS AND PERFORMANCE
a. REVIEW OF ACTIVITIES
AMPLIFY!
AMPLIFY! a new digital film festival inspired by Covid. FilmBath’s Holly Tarquini brought together Cambridge, Brighton and Cornwall film festivals to jointly present a virtual film festival across the UK. Funded by the BFI and well supported by audiences, it was a success.
AMPLIFY! successfully showcased a diverse range of films with a programme of Q&As and industry events to an audience of over 15,153. Our electric programme included 38 feature films - among them 19 UK premieres - alongside 62 short films, many from exciting new voices. A total of 39 countries were represented throughout the programme and 55 % of the features were directed or co-directed by women.
Industry Programme
In addition to a comprehensive programme of feature and short films, AMPLIFY! also delivered a range of workshops, networking & industry events to an audience of over 4,452, including:
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Filmmakers Networking ‘In the Bar’ Zoom Chat
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2 Short Film Awards
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Intimacy on screen with Lizzy Talbot, Intimacy Coordinator
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BFI NETWORK Treatment Development
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The IMDb New Filmmaker Award
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The AMPLIFY! and Backstage casting conversation
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Casting 101 with Hannah Marie Williams from Backstage UK
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Independent Film Exhibition: New Realities/New Opportunities
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Interview with Sylvia Parker, Script Supervisor
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BFI NETWORK Funding with Q&
Throughout the festival, filmmakers, cast and crew, were also invited to take part in virtual Q&As, including: directors Christine Molloy & Joe Lawlor, actor Orla Brady and composer Stephen McKeon (from Rose Plays Julie), directors Diana Neille and Richard Poplak (fom Influence), director Samuel Kishi Leopo (from Los Lobos), director Nuria Giménez (from My Mexican Bretzel), director Pilar Palomero (from Schoolgirls) and director Amjad Abu Alala (from You will die at 20).
GREEN PARK STATION FILM FESTIVAL
We also ran one of the only in-person film festivals in 2020. We achieved this because we effectively built a cinema inside a disused train station - semi-open to the air and therefore Covid safe. We received funding for the BFI FAN South West and sponsorship from businesses and individuals across Bath.
We screened Chloe Zhao’s stupendous award-winning Nomadland, starring Frances McDormand, Supernova with Colin Firth and Stanley Tucci and 8 other great features.
This terrific programme attracted a very good audience, who came prepared to put up with wintry weather, and stayed to enjoy themselves unreservedly. The feedback, both at the time and subsequently could be abbreviated in the following phrase: “Can you do you it again?”
b. INVESTMENT POLICY AND PERFORMANCE
The charitable company does not currently hold any investments. Surplus cash is placed on deposit in the charitable company's bank, where it earns interest.
FINANCIAL REVIEW
a. RESERVES POLICY
It is the policy of the charity to achieve a level of cash reserves that are sufficient to cover the actual administration and management costs of the charity for six months (ignoring the cost of donations 'in-kind' services).
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FILMBATH LTD (a company limited by guarantee)
PLANS FOR THE FUTURE
a. FUTURE DEVELOPMENTS
In 2021, we will build on our past successes and try - despite Covid - to run a successful film festival in the Autumn. This will include offerings for young people and families, as it falls over the half term period.
We will also continue to develop and to promote a new F-Rated Podcast.
We will also resume the promotion and operation of a monthly film club, as a means of maintaining, and hopefully growing, our connection with our audience across the year.
In 2021/2 we will be partnering with ON BOARD to recruit and mentor two young Trustees and to continue to increase the diversity of our Board of Trustees
This report was approved by the Trustees on 20 Oct 2021 and signed on its behalf, by:
Margaret Heffernan Chair of Trustees
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FILMBATH LTD (a company limited by guarantee)
STATEMENT OF TRUSTEES' RESPONSIBILITIES
for the year ended 31 March 2021
The Trustees (who are also directors of FilmBath Limited for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company and charity law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:
• select suitable accounting policies and then apply them consistently;
• observe the methods and principles of the Charities SORP;
• make judgments and estimates that are reasonable and prudent;
• state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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FILMBATH LTD (a company limited by guarantee)
INDEPENDENT EXAMINER'S REPORT
for the year ended 31 March 2021
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF FILMBATH LIMITED
I report on the financial statements of the company for the year ended 31 March 2021 which are set out on pages 11 to 17.
This report is made solely to the company's Trustees, as a body, in accordance with Section 43 of the Charities Act 1993 and regulations made under section 44 of that Act. My work has been undertaken so that I might state to the company's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and the company's Trustees as a body, for my work, for this report, or for the opinions I have formed.
RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER
The Trustees, who are also the directors of the company for the purposes of company law, are responsible for the preparation of the financial statements. The Trustees consider that an audit is not required for this year under section 43(2) of the Charities Act 1993 (the Act) and that an independent examination is needed.
Having satisfied myself that the company is not subject to audit under charity or company law and is eligible for independent examination, it is my responsibility to:
• examine the financial statements under section 43 of the Act;
• follow the procedures laid down in the general Directions given by the Charity Commission under section 43(7) (b) of the Act; and
• state whether particular matters have come to my attention.
BASIS OF INDEPENDENT EXAMINER'S REPORT
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the company and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the financial statements present a 'true and fair view' and the report is limited to those matters set out in the statement below.
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FILMBATH LTD (a company limited by guarantee)
INDEPENDENT EXAMINER'S REPORT (continued)
for the year ended 31 March 2021
INDEPENDENT EXAMINER'S STATEMENT
In connection with my examination, no matter has come to my attention:
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(1) which gives me reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with section 386 of the Companies Act 2006; and
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to prepare financial statements which accord with the accounting records and comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
Signed:
Dated: 20 Oct 2021
Craig Jenkins BA (Hons) FCMA CGMA
TSL Accounting 4 Chapel Row Bath BA1 1HN
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FILMBATH LTD (a company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES
(incorporating income and expenditure account)
for the year ended 31 March 2021
| Note | Total funds 2021 £ |
Total funds 2020 £ |
|---|---|---|
| INCOMING RESOURCES Incoming resources from generated funds: Investment income 3 Incoming resources from charitable activities 2 |
||
| 22 116,750 |
43 108,740 |
|
| TOTAL INCOMING RESOURCES 8 |
116,772 | 108,833 |
| RESOURCES EXPENDED Costs of generating funds: Charitable activities 2 |
||
| 112,164 | 101,770 | |
| TOTAL RESOURCES EXPENDED 8 |
112,164 | 101,770 |
| NET INCOME FOR THE YEAR | 4,608 | 7,063 |
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FILMBATH LTD (a company limited by guarantee)
BALANCE SHEET
as at 31 March 2021
| Note | 2021 £ |
2020 £ |
||
|---|---|---|---|---|
| £ | £ | |||
| FIXED ASSETS Tangible fxed assets 5 CURRENT ASSETS Debtors 6 Cash at bank and in hand |
||||
| 1,904 | 1,243 | |||
| 1,132 38,069 |
2,963 31,862 |
|||
| 39,201 | 34,827 | |||
| CREDITORS: amounts falling due within one year 7 NET CURRENT ASSETS TOTAL ASSETS |
(6,844) | (6,417) | ||
| 32,357 | 28,410 | |||
| 34,261 | 29,653 | |||
| CHARITY FUNDS Unrestricted funds 8 |
||||
| 34,261 | 29,653 | |||
| 34,261 | 29,653 |
The Trustees consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act. The Trustees acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 31 March 2021 and of its surplus for the year then ended in accordance with the requirements of sections 394 and 395 of the Act and which otherwise comply with the requirements of the Companies Act 2006 relating to the financial statements so far as applicable to the company.
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FILMBATH LTD (a company limited by guarantee)
The financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
The financial statements were approved by the Trustees on 20 Oct 2021 and signed on their behalf, by:
Margaret Heffernan Chair of Trustees
The notes on pages 14-18 form part of these financial statements.
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FILMBATH LTD (a company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2021
1. ACCOUNTING POLICIES
1.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS
The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). The financial statements have been prepared in accordance with the Statement of Recommended Practice (SORP), "Accounting and Reporting by Charities" published in March 2005, applicable accounting standards and the Companies Act 2006.
1.2 COMPANY STATUS
The company is a company limited by guarantee. The members of the company are the Trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £10 per member of the company.
1.3 FUND ACCOUNTING
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
1.4 INCOMING RESOURCES
All incoming resources are included in the Statement of financial activities when the company is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed to the projects. Gifts donated for resale are included as income when they are sold. Donated facilities are included at the value to the company where this can be quantified and a third party is bearing the cost. No amounts are included in the financial statements for services donated by volunteers.
Donated services or facilities, which comprise donated services, are 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 where there is no financial cost borne by a third party.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
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FILMBATH LTD (a company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2021
1. ACCOUNTING POLICIES (continued)
1.5 RESOURCES EXPENDED
All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of the resources.
Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Support costs are those costs incurred directly in support of expenditure on the objects of the company and include project management carried out at Headquarters.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
1.6 TURNOVER
Turnover comprises revenue recognised by the company in respect of goods and services supplied, exclusive of Value Added Tax and trade discounts.
1.7 TANGIBLE FIXED ASSETS AND DEPRECIATION
All assets costing more than £500 are capitalised.
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
- Equipment
25% reducing balance
1.8 ACCRUALS & LIABILITIES
The financial year for the Festival runs from April to March, by which point the majority of invoices for the November festival have been received and paid. Where known costs are outstanding, these have been accrued. Any liabilities are released after six years, in line with the Limitations Act 1980.
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FILMBATH LTD (a company limited by guarantee)
2. INCOME AND EXPENDITURE
| Income Funding Sponsorship Ticket Sales Other Income Total Income |
2021 £ 2020 £ 48,000 23,396 11,250 23,877 32,082 37,916 25,440 23,644 |
|---|---|
| 116,772 108,833 |
|
| Expenditure Freelance Costs Screenings Costs Other expenditure Total Expenses Net Operating Surplus |
|
| 34,782 43,242 27,939 27,704 30,824 30,824 |
|
| 112,164 101,770 |
|
| 4,608 7,063 |
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FILMBATH LTD (a company limited by guarantee)
3. INVESTMENT INCOME
| 2021 £ 22 |
2020 £ 45 |
|
|---|---|---|
| Interest receivable |
4. NET INCOME / (EXPENDITURE)
This is stated after charging:
| 2021 £ 438 |
2020 £ 414 |
|
|---|---|---|
| Depreciation of tangible fxed assets: - owned by the charity |
No trustee received any remuneration, benefits in kind or reimbursed expenses.
5. TANGIBLE FIXED ASSETS
| Furniture. Fittings and Equipment £ |
|
|---|---|
| COST At 1 April 2020 Additions At 31 March 2021 DEPRECIATION |
|
| 9,982 590 |
|
| 10,572 | |
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FILMBATH LTD (a company limited by guarantee)
| At 1 April 2020 Charge for the year |
8,230 438 |
|---|---|
| At 31 March 2021 | 8,668 |
| NET BOOK VALUE At 31 March 2021 |
|
| 1,904 |
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FILMBATH LTD (a company limited by guarantee)
6. DEBTORS
| 7. CREDITORS Prepayments and Monies Due |
2021 £ 1,132 2021 £ 6,844 |
2020 £ 2,963 |
|---|---|---|
| 2020 £ 6,417 |
||
| Suppliers Payable & Income Received In Advance |
8. STATEMENT OF FUNDS
| Brought Forward 1 April 2020 £ |
Incoming Resources £ |
Resources Expended £ |
Carried Forward 31 March 2021 £ |
|
|---|---|---|---|---|
| UNRESTRICTED FUNDS General Funds - all funds |
||||
| 29,653 | 116,772 | (112,164) | 34,261 |
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