2022-03-31-accounts - FilmBath LTD

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Trustees Report and Financial Statements

FilmBath LTD

For the year ended 31st March 2022

FILMBATH LTD (a company limited by guarantee)

REFERENCE & ADMINISTRATIVE DETAILS OF THE CHARITY

ITS TRUSTEES & ADVISERS

for the year ended 31 March 2022

Trustees

Margaret Heffernan (resigned 27[th] March 2022) Ken Littlewood (resigned 27[th] March 2022) Murray Kenneth Rebecca Renfro (resigned 27[th] March 2022) Martin Haigh Tara Bennett Roger Griffith Richard Allen (appointed 27[th] March 2022) Ella McDonald (appointed 27[th] March 2022) Parang Khezri (appointed 27[th] March 2022)

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 2022

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 2022. 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 Bath Film Festival) 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 seven 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. Its policies and objectives are to:

1) show films and film-related events in Bath and North East Somerset (B&NES);
2) supplement and enhance current cinema provision in B&NES;
3) reach and develop new audiences;
4) make the cinema experience unique, memorable and fun;
5) communicate enthusiasm for film;
6) provide structures and resources to deliver the above.

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FILMBATH LTD (a company limited by guarantee)

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.

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

The film festival took over screen one at The Little Theatre Cinema for a whole week 29 Oct - 4 Nov and welcomed in the film fans of Bath who indulged in 33 features and 15 shorts, 88% of which were directed by women. Together, we gasped, laughed and cried buckets. Typical comments from the festival audience include:

“I'd not even been to the cinema since Christmas, so 8 films in one week has been quite an experience. I have loved and hugely enjoyed all of the films”

“Just moved to Bath and this was a nice welcome. Loved it overall, I’ll definitely be back - thanks guys.”

“It is a wonderful event! One we look forward to each year. It is also an increasingly important event and one that is accessible to all. What better way to enjoy the power of storytelling.”

“The film was one of the best I have ever seen and I wouldn't have got to see it without this festival. Thank you”

The festival opened on 28 October 2021 with Mothering Sunday starring Olivia Coleman, Colin Firth and Josh O’Connor (Prince Charles in The Crown) with Q&As from the film’s producers, Elizabeth Karlsen and Stephen Woolley, and closed with The Eyes of Tammy Faye , described by the BBC as 'Hollywood Oscar bait’ and starring Jessica Chastain and Andrew Garfield.

In between was everything from the brilliant and bonkers Pig with Nic Cage (at his best) to Petite Maman , the latest work of genius from Céline Sciamma of Portrait of a Lady on Fire fame and an intensely creepy double bill of Titane and Lamb which scared the bejeezus out of everyone on Halloween.

We also partnered with ON BOARD to recruit and mentor two young Trustees and to continue to increase the diversity of our Board of Trustees.

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 2022, we hope to be back to pre-Covid festival times, screening 40 - 50 features and 30 - 40 shorts in venues across Bath 4 - 14 Nov.

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.

We will be diversifying and expanding our Programming Team and our Shorts Selection Team with an open call out for volunteers.

This report was approved by the Trustees on 29 September 2022 and signed on its behalf, by:

Martin Haigh Chair of Trustees

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FILMBATH LTD (a company limited by guarantee)

STATEMENT OF TRUSTEES' RESPONSIBILITIES

for the year ended 31 March 2022

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 2022

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 2022 which are set out on pages 10 to 18.

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 2022

INDEPENDENT EXAMINER'S STATEMENT

In connection with my examination, no matter has come to my attention:

(1) which gives me reasonable cause to believe that in any material respect the requirements:
to keep accounting records in accordance with section 386 of the Companies Act 2006; and
• 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: 29 September 2022

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 2022

Note INCOMING RESOURCES Incoming resources from generated funds: Investment income: interest receivable Incoming resources from charitable activities 2 TOTAL INCOMING RESOURCES 7 RESOURCES EXPENDED Costs of generating funds: Charitable activities 2 TOTAL RESOURCES EXPENDED 7 NET INCOME FOR THE YEAR	Total funds 2022 £ 5 70,018 70,023 0 69,706 69,706 317	Total funds 2021 £ 22 116,750
		116,772
		112,164
		112164
		4,608

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FILMBATH LTD (a company limited by guarantee)

BALANCE SHEET

as at 31 March 2022

£ 7,286 32,918	2022 £ 1,428 33,330	£ 1,132 38,069	2021 £ 1,904 32,357
40,204 (6,874)		39,201 (6,844)

	34,758		34,261
	34,758		34,261
	34,758		34,261

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FILMBATH LTD (a company limited by guarantee)

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.

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 29 September 2022 and signed on their behalf, by:

Martin Haigh Chair of Trustees

The notes on pages 13-17 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 2022

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 2022

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 FilmBath runs from April to March, by which point most 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 Expenditure Freelance Costs Screenings Costs Other expenditure Total Expenses Net Operating Surplus	2022 £ 2021 £ 30,500 48,000 10,500 11,250 16,197 32,082 12,826 25,440
	70,023 116,772
	24,557 34,782 22,661 27,939 22,488 49,443
	69,706 112,164
	317 4 ,608

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FILMBATH LTD (a company limited by guarantee)

3. NET INCOME / (EXPENDITURE)

This is stated after charging:

	2022	2021
	£	£
Depreciation of tangible fixed assets:
- owned by the charity	476	438

No trustee received any remuneration, benefits in kind or reimbursed expenses.

4. TANGIBLE FIXED ASSETS

COST At 1 April 2021 Additions At 31 March 2022 DEPRECIATION At 1 April 2021 Charge for the year At 31 March 2022 NET BOOK VALUE At 31 March 2022	Furniture. Fittings and Equipment £ 10,573 0
	10,573
	8,668 476
	9,144

	1,429

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FILMBATH LTD (a company limited by guarantee)

5. DEBTORS

2022 £ Prepayments and Monies Due 1,132 6. CREDITORS 2022 £ Suppliers Payable & Income Received in Advance 6,844 7. STATEMENT OF FUNDS Brought Forward 1 April 2021 Incoming Resources Resources Expended UNRESTRICTED FUNDS £ £ £ General Funds - all funds 34,261 70,023 (69,796)	2021 £ 2,963 2021 £ 6,417 Carried Forward 31 March 2022 £ 34,261

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