Trustees Report and Financial Statements
FilmBath LTD
Registered Charity - Charity number 1080952 For the year ended 31st March 2024
FILMBATH LTD (a company limited by guarantee)
REFERENCE & ADMINISTRATIVE DETAILS OF THE CHARITY
ITS TRUSTEES & ADVISERS
for the year ended 31 March 2024
Trustees
Martin Haigh Murray Kenneth Seb Martin Roger Griffith Philip Raby Dave Taylor-Matthews Katie Hall Parang Khezri Ella McDonald Matthew Wilkley Tara Barnett Suzanne Harris
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, ME 19 4TA
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FILMBATH LTD (a company limited by guarantee)
TRUSTEES' REPORT
for the year ended 31 March 2024
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 2024. 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 coopted by an ordinary resolution of the Board of Trustees and ratified at the AGM.
c. ORGANISATIONAL STRUCTURE AND DECISION MAKING
The trustees and the management team are responsible for operational decisions and strategy, they meet regularly throughout the year to administer the charity.
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:
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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 consider 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
The 33rd annual FilmBath Festival ran from 20th-29th October 2023. Over 10 days more than 45 films were shown, including headline hits Poor Things and All of Us Strangers.
The programme was bolstered by a selection of enlightening documentaries, entertaining kid’s classics, and various special guests including Danny Boyle and John Hodge.
As always, more than 50% of the programme was directed and/or written by women, maintaining the FilmBath F-Rated status and audience responses have been massively positive.
In other areas, FilmBath launched its own film club where members can sign up for regular local showings of a variety of films, and the
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).
b. FINANCIAL COMMENTARY
The below accounts have been prepared on the basis that the charity is a going concern.
As of 31st March 2024, the FilmBath remains financially stable. When viewed within the wider context of both the charity and arts sector following the turmoil caused by Covid-19 there is reason to be cautiously optimistic. Despite the challenges that covid presented, the cash levels of the charity remained strong, mainly due to the generous support of a number of long time supporters and patrons of FilmBath.
Whilst the charity had negative net income for the year, the board of trustees remains confident that there is a market of enthusiastic film-goers within the Bath area who will support the festival in the coming years. Combined with exciting bookings and ideas for other cashgenerating activities, the board are looking forward optimistically to the 2024 festival and believe it can and will be, bigger and better than the 2023 festival.
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FILMBATH LTD (a company limited by guarantee)
This report was approved by the Trustees on 09/01/2025 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 2024
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:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP;
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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 TO THE TRUSTEES/DIRECTORS OF FILMBATH LIMITED
I report on the accounts for the year ended 31[st] March 2024 set out on pages 9 to 10.
Respective responsibilities of directors, trustees and examiner
The charity’s trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year (under section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is required.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
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examine the accounts under section 145 of the 2011 Act
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to follow the procedures laid down in the General Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act), and
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to state whether particular matters have come to my attention.
Basis of independent examiner’s report
My examination was carried out in accordance with General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, 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 accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
Independent examiner’s statement
In connection with my examination, no matter has come to my attention:
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which gives me reasonable cause to believe that in, any material respect, the requirements: to keep accounting records in accordance with Section 386 and 387 of the Companies Act 2006; and to prepare accounts which accord with the accounting records and comply with the accounting requirements of Sections 394 and 395 of the Companies Act 2006 and with the methods and principles of the 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 2019) ; have not been met; or
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to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Craig P Jenkins BA (Hons) FCMA CGMA
December 2024
TSL Accounting Ltd
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 2024
| Note INCOMING RESOURCES Incoming resources from generated funds: Investment income 3 Incoming resources from charitable activities 2 TOTAL INCOMING RESOURCES 8 RESOURCES EXPENDED Costs of generating funds: Charitable activities 2 TOTAL RESOURCES EXPENDED 8 NET INCOME /(DEFICIT) FOR THE YEAR |
Total funds 2024 £ 523 73,120 73,643 99,318 99,318 (25,675) |
Total funds 2023 £ 157 78,688 |
|---|---|---|
| 78,864 | ||
| 82,885 | ||
| 82,885 | ||
| (4,093) |
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FILMBATH LTD (a company limited by guarantee)
BALANCE SHEET
as at 31 March 2024
| Note FIXED ASSETS Tangible fixed assets 5 CURRENT ASSETS Debtors 6 Cash at bank and in hand CREDITORS: amounts falling due within one year 7 NET CURRENT ASSETS TOTAL ASSETS CAPITAL AND RESERVES Revenue Reserves Surplus / (Deficit) for the year 8 |
£ 0 32,058 |
2024 £ 803 4,250 |
£ 6,378 42,007 |
2023 £ 1,071 29,647 |
|---|---|---|---|---|
| 32,861 (27,818) |
49,456 (18,738) |
|||
| 5,043 | 30,718 | |||
| 30,718 (25,675) |
34,758 (4,040) |
|||
| 5,043 | 30,718 |
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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 2024 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 09/01/2025 and signed on their behalf, by:
Martin Haigh Chair of Trustees
The notes on pages 13-19 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 2024
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 2024
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 Expenditure Freelance Costs Screenings Costs Other expenditure Total Expenses Net Operating Surplus ENT INCOME nterest receivable |
2024 £ 2023 £ 7,000 24,199 10,246 10,250 28,967 22,631 26,908 21,607 |
|---|---|
| 73,120 78,688 |
|
| 35,172 35,637 36,039 32,907 28,108 14,342 |
|
| 99,318 82,885 |
|
| (25,675) (4,198) |
|
| 2024 £ 2023 £ 523 158 |
3. INVESTMENT INCOME
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FILMBATH LTD (a company limited by guarantee)
4. NET INCOME / (EXPENDITURE)
This is stated after charging:
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Depreciation of tangible fixed assets: | ||
| - owned by the charity | 268 | 357 |
No trustee received any remuneration, benefits in kind or reimbursed expenses.
5. TANGIBLE FIXED ASSETS
| COST At 1 April 2023 Additions At 31 March 2024 DEPRECIATION At 1 April 2023 Charge for the year At 31 March 2024 NET BOOK VALUE At 31 March 2024 |
Furniture. Fittings and Equipment £ 10,573 0 |
|---|---|
| 10,573 | |
| 9,502 268 |
|
| 9,769 | |
| 803 |
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FILMBATH LTD (a company limited by guarantee)
6. DEBTORS
| 2024 | 2024 | 2023 | 2023 | ||
|---|---|---|---|---|---|
| £ | £ | ||||
| Prepayments and Monies Due | 0 | 6,378 | |||
| 7. CREDITORS | |||||
| 2024 | 2023 | ||||
| £ | £ | ||||
| Suppliers Payable & Income Received In Advance | 2,818 |
2,938 | |||
| Deferred Income | 25,000 | 15,800 |
|||
| 18,738 | 18,738 | ||||
| 8. STATEMENT OF FUNDS | |||||
| Brought | Incoming | Resources | Carried | ||
| Forward | Resources | Expended |
Forward | ||
| 1 April 2023 £ |
£ | 31 March 2024 | |||
| £ | £ | ||||
| UNRESTRICTED FUNDS | |||||
| General Funds - all funds 30,970 |
73,643 | (99,318) | 5,043 |
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