CITY EYE LIMITED 02786596 REPORTS AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 CONTENTS Pages Company information Report of the directors 3-14 Independent Examiner's Report Income and expenditure account 16 Balance sheet Statement of financial activities 18 Statement of financial activities - comparative 19 Notes to the accounts 20-26 Company number 02786596 Registered charity number 1089882
CITY EYE LIMITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 COMPANY INFORMATION Registered office and workshop premises Studio 144 142 - 144 Above Bar Street Soulhampion S014 7DU Telephone 02380 711672 E mail.. admin@cily-eye,co.uk Website.. www.cily-eye.co.uk Bankers Co-operalive Bank 149 High Streel Soulhamplon S014 2BT Independent Examiner Robert Anthony Bsc ACA 36 Merdon Avenue Chandlers Ford Easlleigh S053 1EP
CITY EYE LIMITED REPORT OF THE DIRECTORS The directors, being Ihe trustees of the charity, present their thirtieth report and accounts, being for the year ended 31 March 2025. STRUCTURE, GOVERNANCE AND MANAGEMENT The constitution of the charity, being a limited company, Is its Memorandum and Articles of Association. The company is limited by guarantee and has no share capital. The members of the company are prohibited from receiving any share of the surpluses that the company may make, these being retained by it lo further its charitable objectives. The charity's reglslralion number is 1089882 and its company registration number is 02786596. Ils registered office is given on page 2 of these accounts, The company is run by a voluntary board ol directors, who act as the trustees of the charity. Directors, meeting5 are held on a regular basis. The directors are appointed al the company's annual general meeting All of the directors are members of the company The company reviews the membership of ils Board from lime to lime and seeks out Potential new directors by advertising and throug h the activities of the company and ils directors. I n view of the small size of the company, training and induction of new board members is Inanaged flexibly and informally. The company currently has two full-lime employees. The directors delegate the day-to-day running of the company lo one of the full-lime employees DIRECTORS The directors who held office during the year were as follows.. Lucy-Jane FitzpatrSck (resigned 11 December 2025) Peter Thompson Glen Jevon John Savage Dr Stuart Joy OBJECTIVES AND ACTIVITIES The principal objective of the charity is lo advance the education of the public in the arts and in particular the art and science of film and video techniques, As part of its principal objective City Eye has aimed lo stimulate inleresl and engagemenl with all areas of film production. It undertakes a range of projects involvlng film and video engaging wilh the broadest range of people and their communities. This work includes partnershlps with other charities and CICS. educational establishments and local authorities, particularly Southampton City Council.
CITY EYE LIMITED REPORT OF THE DIRECTORS CONTINUED OBJECTIVES AND ACTIVITIES - Continued 11 also undertakes Iraiiiing courses and screening events, including the annual Southampton Film Week, which seeks lo enhance the opportunity for filmmakers lo screen work and for audiences lo engage with the broadest range of film, developing experiences and deeper understanding of the medium and its content. The charity operates from premises in the centr& of Southamplon. Access lo City Eye, its services and resources continue to be of prime importance in meeting the charity's public benefit remit In addition lo specific work with ind ividiials and groups which experience physical or mental access challenges, the company remains concerned with Ilie social inclusion agenda. This brlngs engagement with community members who find themselves isolated by issues, circumstances, or who might be identified as people vulnerable lo discriminallon as described in the prol8cled characleristlcs of the Equality Act 2010. The support of the organisation's key funder, SoLlthamplon City Council, h8s enabled Clly Eye lo offer competitively priced services and resources to commLinily groups and individ uals who seek to engage with the medium of film. Whenever possible, training courses and workshops are offered free lo those on means tested benefits and a sliding scale of charges for equipment is in place lo ensure that cost is not a barrier to anyone wishing lo express themselves through a film project. ACHIEVEMENTS AND PERFORMANCE In 2024125 City Eye continued lo develop its programme of events and actlvily, bringing people together for production and project work, training, networking and film exhibition, Altliough Covid- 19 was largely in the past, changes to the way audiences and participants engage, developed in the period of lock-down, have continued and the organisalion works hard lo suslain and develop levels of participation The higher staffing level achieved In 2021122 continues with the full-time Head of Production now working alongside the full-lime Executive Director. The team is complemented tlirough the engagement ol freelance staff lo meet the requirements of project aclivily. This approach lo staff ing has proved effective over many years enabling the organisalion lo match skills to projects whilst managing costs and providing freelance crew the flexibility to enjoy wider work opportunities. The organisalion has, therefore, been able lo develop ils programme, engaging people in the wldest range of film and media activity. The programme of work continues to be dellvered independently and in collaboration with partners across the film, arts and cultural sector ensuring that City Eye continues to provide opportunities for learning, career progression and enlertainmenl, supporting well-being and community cohesion through the shared experlence of film. Legal work to agree City Eye's sub-lease lo occupy ils base at Studio 144 alongside John Hansard Gallery, a department of University of Soulhampton, did not progres5. The organisalion, therefore, continued lo access and use its accommodation under a Tenancy at Will, whilst continuing to establish its film and media hub within the cenlre.
CITY EYE LIMITED REPORT OF THE DIRECTORS CONTINUED ACHIEVEMENTS AND PERFORMANCE- Continued Studio 144 is the new arts complex development with which City Eye has been engaged since the project began in 2002. The investment of liine and resources lo bring the project to fruition was significant and stretched City Eye's limited resources, bul as fit out and equipment 8CqUlSltion continues and regular filmmaker activity such as the monthly film network, BFI Film Academy Short Course, the region's Screen Industry Skills Boolcamp and City Eye Young Filmmakers is established, the rewards are enjoyed by the comimunily, creative praclilioners and the staff team. Completion of all oulslandin9 legal work to enable full access and protect this investment remains a priority. Located on Guildhall Square, at the heart of SoLlthamplon's Cultural Quarter, the impressive arts facilities al Studio 144 were principally funded by Arts Council England, Soulhamplon City Council and University of Southamplon, and sil within a larger development which includes residential and retail spaces delivered by Grosvenor who worked with CZWG archilecls. Studio 144 incorporates a range of perforniance art and gallery spaces along with production, post- production, screening and education facilities for Cily Eye. The funds allocated within the Studio 144 budget lo support acquisition of equipment and fit-oul of City Eye accommodation, which were managed by University of Soulhamplon and Iransferred to City Eye in trust during 2020121 have now enabled purchase of new equipment to support the organisalion's own projec15, those delivered for its Glienls. and lo support the training and development of filmmakers of all ages. The org8nisalion now boasts the13lesl in cinema line cameras and lighting, audio and posl-produclion facilities, The new equipment brings many benefits to those that Use il bul also has a lower environmental impact. Th6 charlty continues to work closely with the wider arts, cultural and education sectors to enable projects and activity for young people includlng on projects with Mayflower Theatre and John Hansard Gallery. Workshops for younger children were delivered for MAST Mayflower Studios and as part of City Eye's own School Holiday Film School. Following ils successful application lo the BFI, City Eye was commissioned to deliver the BFI Film Academy Short Course to a group of 20 young people for the second year in succession. Production and project work durSng the year continued with projects on behalf of John Hansard Gallery, Soulhamplon Forward, Turner Sims, Amy Goodman Artist, God's House Tower, The Stage Door, Soulhamplon Pride, University of Southampton and Mayflower Theatre. Through this activity the organisallon was again able lo sustain a level of work for ils permanent team and core freelance crew, providing critical employment and training opportunities In November the company delivered the seventeenth annual Film Festival, Soulhamplon Film Week. Over 10 days audiences were welcomed lo 13 events across the diverse programme of film, music and talks. Audience and partner feedback was positive and il Is gratifying that the festival was enjoyed and celebrated by those who came.
CITY EYE LIMITED REPORT OF THE DIRECTORS CONTINUED ACHIEVEMENTS AND PERFORMANCE - Continued The main elements of the City Eye programme in 2024125 were as follows.. Activil with Ma flower Theatre Southam lon The organisation is proud lo continue ils work with Mayflower Theatre, collaborating on a range of youth engagement opportunities and in 24125 continued lo offer the Mayflower and City Eye Young Filmmakers weekly workshops. The sessions provide knowledge and skills development in all areas of digital filmmaking, delivered in an informal and fun way with a focus equally on supporting the young group, age 12 17, to enjoy their crealivily, develop personal and interpersonal skills and p051tive mental health. In the summer of 2024 Mayflower Theatre's Suininer Youth Project again provided the opportunity for the City Eye team lo work with a group of talented young people lo document the production process and a performance of Bugsy Malone, Members of this group have continued their engagement with the organisation through wider activity and work experience. City Eye is deli9hled lo collaborale and provide support for young people woi'king as part of these pioductions, learning liow to film live performance as well as fly-on-the-wall style documentary, Al Mayflower Studios, City Eye's neighbour at Studio 144, the organisalion enjoyed a number of collaborations from film workshops for children and families lo docunient8lion of shows for archive and screening piirposes and the recording of conlenl for inclusion in films lo celebrate the theatre's work. As an associate partner of Mayflower, City Eye enjoys a close working relationship with the staff team al its two venues. This and the organisalion'5 connection with the programming al each cemented the collaboration between the two organisations providing a regular income strand for the charity. John Han rd G Iler Documenta ion For John Hansard Gallery, City Eye provided film and photography services throughout the year. To mark the occasion of ils major exhibition of the work of Pia Arke, the gallery hosted conference including PresentatOn$, discussion and the launch of the book of the exhibition. City Eye was engaged lo document this activity and to produce a film record of it. For the Gallery's Conflicting Ideas.. Conflict and Compassionate Conversations series of talks in collaboration with University of Southampton and Mayflower Studios, City Eye filmed audience feedback following events which featured David Harewood, Alison Lapper, Kobna Hodbrook- Smith and Afua Hirsch. As part of further exhibitions, 'in conversation, events were filmed wilh Permindar Kaur, Sonia Boué and Ashokkumar D Mislry.
CITY EYE LIMITED REPORT OF THE DIRECTORS CONTINUED ACHIEVEMENTS AND PERFORMANCE - Continued rn r Sims Projects with Turner Sims, the University of Southampton's music venue, brought opportunities lo engage with young people as pat1 of ils Listening Project and the production of a new Welcome film. For the listening project, working with local primary school children, 4 films were made to be shown in the education selling as an introduction lo the venue in advance of a visit. For the Welcome film the children introduced the venue for audiences. explaining how the venue and area5 within might be located, how tickets and refreshments could be purchased, how assistance might be sought - lo find seats or lo request help including to ask for a sensory pack to assist access to the experience. The projects provided training opportunlties for C ity Eye's own students, in particular 3 graduates of the organisalion's BFI Film Academy Sliort Course. Goodman Artist City Eye's Head of Production, Aaron Wesl, continued hi5 documentation of the work of the sculptor Amy Goodman, as she worked on the commisslon of the Sister Queens,, two large pieces comMissOned by Test Vallery Borough Council lo commemofale the late Queen Elizabeth 11. Showing the Queen both al a young age, and then as she will be recalled towards the end of her reign, the latter was installed in Andover in September. The second piece will be installed in the grounds of Romsey Abbey in 2026. Footage will be edited to Create a record of the project and lo give insight to the artist's work. era U Close The Charity's work in support of arts organisalions in receipt of Arts Council Funding extended in collaboration with Opera Up Close which is now located in Mayflower Studios within the Studio 144 Arts Complex. For its production of Vaughan Williams, operetta, Riders lo Ilie Sea, City Eye's Head of Production, Aaron West led a City Eye team which included graduates from ils BFI Film Academy Short Course in developing a short film visualisation for a new prologue to the classic. Titled The Last Bil of the Moon the new piece, developed through community engagement, presented a conteinporary narrative lo prelude the original operetta. Filming on the Shoreline and in the heart of Hampshire's stunning film locations, utilising archive reels and new dramalised sequences the film was prolecled as a backdrop to the performance which opened in Soulhamplon and toured across the UK at the beginnlng of 2025. so.. sta e Door Across 8 programme of regular events through the year, City Eye filmed performances by aspiring artists and developing talent. The project, delivered by independent venue The Stage Door in collaboration with local charities and organisations, showcases the talent of local artists. The filmed sequences provided footage used lo promote the events and the artists, work and to provide portfolio evidence for artists as they develop their careers. Footage was also used lo inform the successful Arts Council funding application which followed, enabling the project to develop in collaboration with Propel Artists and Mayflower Studios for delivery in 2025.
CITY EYE LIMITED REPORT OF THE DIRECTORS CONTINUED ACHIEVEMENTS AND PERFORMANCE- Continued Southam ton Forward - Home Thealre Celebrating the legacy of Southampton's City of Culture Bid, the eily's Cultural Development Agency, Southampton Forward worked with Solent University and Oliver Award-winning director Kerry Kyriacos Michael MBE, to create Home Theatre Soulhampton. The project brought together over 100 participants and 33 creative professionals-including directors, theatre makers, stage manager5, and filmmakers. With footage gathered by students of Solenl University's Film Production courses, City Eye created individual films of the projects 11 intimate performances, hosted in homes acros5 the city and inspired by the unique personal stories of their hosts. Each film is a record of the unique collaboration between the community hosts and artists working with them. For the project's celebration and showcase event al MAST Mayflower Studios in January 2025 City Eye created The Making of Home Theatre documentary with the film screened to an audience of host families, theatre practitioners, and their friends and family. Solenl Growlh Partners - Screen Skills Bootcam Under the government's Skills Bootcamp training scheme Solenl Growth Partners invited appli¢alions to deliver a screen skills focused development opportunity. Research conducted in the region identified that the Solent area experienced a deficit of people with appropriate production management skills and Solent University developed a SLiccessful proposal lo deliver a Skills Boolcamp focused lo address this. In the event the University was unable lo progress to delivery and with limited time available to adapt, recruit and deliver the programine, City Eye was able to slep in and in February began a course in Production Management for 9 students. The number was less than the target of 20 due lo the short lead-in time, bul as a pilot project provided opportunity to trial the approach and in collaboration wlth industry Specialists and colleagues at Solent Unlversity a successful programme was delivered with the majority of learners achievlng all learning mileslones within the prescribed period. Graduates of the course have seen their careers lake off in broadcast and feature film production, with their own businesses and for City Eye, its own Head of Production who joined the course for CPD, has developed process and activity for the organ isation. BFI Film Academ Following Ils successful delivery in 23124, City Eye was again awarded fLtnding to deliver a BFI Film Academy Short Course for young people age 16-19 years. The courses, which are delivered across the UK, help train and inspire the next generation of UK filirmakers and production crew, supporting participants to develop new skills and gain commercial and cultural knowledge lo help build a career in the screen industries. Twenty young people were recruited from across the south-central region to attend al City Eye. The City Eye core team supported by a range of industry specialists provided tuition and support through a programme of workshops, masterclasses, and screenings. Students were guided to develop their own film from initial Concept through to posl-prodLiclion and screening and were supported in study towards the NCFE Preparing lo Work in the Film Industry qualificalion, The film students produced, Midnight, is the darkly-comic tale of three colleagues trapped at work after the Y2K bug brings an apocalyptic end to their New Years Eve office party in 1999. Students worked with professional actors and mentors to realise their vision. The film premiered at
CITY EYE LIMITED REPORT OF THE DIRECTORS CONTINUED ACHIEVEMENTS AND PERFORMANCE - Continued Harbour Lights Picture House in Soutliamplon, attended by cast and crew, students. their families and friends and provided the opportunity for the students to participate in a Q&A and to be presented with certificates for course completion and the NCF E q ualification along with Midiiighl film posters. On completion of the course, students h8ve been able lo engage with wider BFI Film Academy alumni opportunities including further courses and training, screenings and events. City Eye has provided further training and work experience opportunities to a number of students, including as crew on a number of City Eye projects including documentary, fiction production and providing training support for younger fledgling creatives, The organisalion contin ues lo work with and support these emergent filmmakers as they develop their Careers alvert and Mo leverde Pictures - A Ni ht Like his City Eye's support for team meirber Liam Calvert's debut feature, A Night Like This, continued during posl-produclion into its festival run commencing with ils selection for BFI Flare al which il premiered in March 2025, Team meinbers and BFI Academy students who had gained work experience on the production were proud lo attend. Dlslribulion is now in place with Verve Pictures and cinema release is anticipated later in 2025, Cil E Film Network The monthly meet-up for Filmmakers, those aspiring lo be or people working in related industries, continued enablin9 City Eye lo utilise ils accommodation and faclitIeS lo support informal coiiversalions and networking, panel discussions, themed presentations and film screenings, Meetings are attended by an average of 30 people each month, some relurnii)g regularly through the year and others fitting allendance around project demands. Feedback is positive with Network members showing appreciation for the breadth of speakers and the information and expertise shared with them and the opportunities for peer SUPPOrt and the forging of new parliierships in filminaking. South8m lon Film Week The seventeenth annual Southamplon Film Vveek, held between 811Tr and 17th November, again saw City Eye leading the celebration of filmmaking and film culture. Across 10 days SFVV24 delivered events, ranging from feature and short film screenlngs, Q&As. workshops, discussion, premiers, live music, archive and heritage, artist film, competition and of course the annual Film Quiz. The programme was well received though box office figures remain challenging. Once again live music and film events proved very popular and the organisation was delighted to collaborate with music venue Turner Sims and pianist Meg Morley, returning lo perform a live score to a double bill of Buster Keaton with Sherlock Jr, and The Navigator. Al the 02 Guildhall we welcomed Donald Mackenzie lo perform his score for Keaton's The General, bringing Southampton's iconic Compton Pipe Organ to life for the occasion. The General was screened with support from BFI as part of its Art in Action season.
CITY EYE LIMITED REPORT OF THE DIRECTORS CONTINUED ACHIEVEMENTS AND PERFORMANCE - Continued The wider programme brought collaborations with Southampton's Universities, heritage venues and with Ilie local film society as well as I nloFilm the national youth film festival, the latter enabling local schools and home educators to bring children of all ages lo enjoy the cinema experience. Eager always to present work which encourages and enables audiences lo engage with issues and subject maller relevant in our society, SFW was able to work with Dr Donna Peberdy lo enable a presentation of her research, Screening Sexual Violence.. Feinale Filmmakers Challenging Gender-Based Violence, with a programme of short fllms and discussion panel with the filmmakers, Alongside popu13r classics, SFW at its heart 5UPPOrts Independent film and filmmakers, emergent lalenl and new voices, a core mission is lo create sliowcase opportunities for filmmakers and viewing opportunities for audiences enabling discovery of work they might not otherwise have enjoyed. SFW24 hosted two presentations of Short Story Cinema, our programme providing platform for short-film makers lo present and discuss their work, The feature programme in 2024 fLtrther provided opportunity lo link with Mayflower Studios for a special event cinema screening for its 501h anniversary of Monty Python and the Holy Grail. Screened with full audience participation as Monty Python and the Foley Gi'ail, audience members were invited to dress up and were guided to join in by providing foley soui)d effects throughout. The project, delivered by Compass Presents, was screened as a preview for the lour scheduled lo extend across the UK in 2025. The festival coinclded with City Eye's regular monthly Film Network and provided an opportunity lo engage the local film community in discussion around the reg ion's developing film industry including fortlicoming plans lo inltiale a Solenl and Hampshire Film Office. Lively conversation was led by a panel including City Eye's Executive Director. local filmmakers, academics and Soulhamplon City Councils Film Off icer, SFW.. Shorts, the festival's own short film competition ran for the 13th year and invited filmmakers to submit fllms up lo 15 minutes in length for judging. Short films were submitted from across the globe. The creation of showcase opportunities for emergent filmmaking lalenl remains a key driver for the festiv81 and alongside the workshop, nelworking and maslerc1ass events, provides enhanced opportunities for project and career development. Submissions enabled a rich and varied short-lisl of films which were celebrated al an in-person screening and awards event held al MAST Mayflower Studios. City Eye was successful in ils application to the BFI'S Film Exhibition Fund administered through Watershed as Film Hub South-west and was awarded £1,500 to support programme and marketing aclivily. Further funds were derived from SLibmissions lo SFW.. Shorts, box office revenue and by utilising funds provided to City Eye through its annual grant from Southampton City Council. 10
CITY EYE LIMITED REPORT OF THE DIRECTORS CONTINUED FINANCIAL REVIEW Results 2024125 2023124 The overall surplus for the year has arisen as follows,, Deficit on general fun Surplus on restricted capital funds -4,038 4,804 -30,268 3,780 Overall surplusl{deficit) £766 -£26,488 The charity achieved a small surplus of £766 overall which is a significant improvement on the previous year, in which the charity incurred an overall deficit of £26,488 Thei'e is still a deficit on the general fund of £4,038 for the year, compared lo a deficit of £30,268 previously. Total income was £122,934 for the year compared to £100,113 for 2023124. Project income increased from £32,490 to £40,298. The charity again undertook the provision of the BFI Academy film training and il expanded ils training remit by also taking part in the Screen Industries Skills Boolcamp, which was operated by Solenl Growth Partners. The ability lo be able to offer these training courses has been a key factor in helping the charity lo generate further funds lo help cover its staffing and other overheads this year. The annual revenue grant from Southampton City Councll reduced lo £20,000 this year, from £26,527. This is part of a phased reduction which will see the withdrawal of all revenue grant funding by April 2026. The Southampton Film Week ran again this year and it received grant fundlng of £2,625 from W8tershed Arts Centre which enabled a full programme of events to lake place. The level of core funding provides for the very minimum of staffing, As reported last year, owing to the revenue deficil, one part-lime member of staff who left early in the year was not replaced, so the charity had lo manage wilh ils two full-time members of staff for the whole of the year. No increases in pay rates were possible due lo the pressure on finances. Regarding otl)er costs, rates for Studio 144 Saw a significant rise from £1,708 10 £5,968 as the level of government support is reduced for non-domeslic rates. The charity continued lo add further lo its film-making and editing equipment in the year - total equipment additions were £17,071 all of which were funded from the University of Southampton trust fund. The reslricted capital fund shows a surplus for the year of £4,804 mainly due to the cost of the new equipment which exceeded the depreciation charge for the year. These two sums make a net credit or increase in the restricted capital funds of £4,804. A transfer Is made each year to or from the designated capital fund to reflect the change in the company's investment in its equipment and other fixed assets, excluding assets acquired by restricted funds. An amount of £166 has been transferred from the capital fund to the general reserve as shown in note 10.
CITY EYE LIMITED REPORT OF THE DIRECTORS CONTINUED FINANCIAL REVIEW- Continued As a result of the deficit for the year the accumulated deficit on its general reserve has increased 10 £17,084 as of 31 March 2025. Resetves olic slalement The Charity does not hold reserves in order to fund future operations, since a significant part of its fundinq is in the form of an annual grant from Ihe city council, and the Gharily aims lo break even on an annual basis. Where a surplus does arise, this is retained lo fund either future capilal expenditure or additional development costs. The ainount of such reserves used by the company lo cover capital expenditure is shown as a separate designated fund on the balance sheet. The company has a reserves policy of maintaining a £5,000 general reserve. Due lo the revenue deficit incurred in previous years. the company has no general or unreslricled reserves left at 31 March 2025. The directors appreciate tliat this is an unsatisfactory situation and is not sustainable for the charity in the medium to long term. Risk assessment slalement The main operating risks facing the charity are those associated with the operating of premises and the employment of staff However, many of the risks of the base al Studio 144 are minimised since Ihe actual building is looked after by Soulhamplon University The charity ensures that adequate insurance is malntalned lo cover not only general contents but also public and employers liability, The main financial risk Is the reliance on revenue grants from its main fL+nder, Southampton City Council, which is fixed for Ilie year, yel the operating income, especially project work is uncertain The directors keep the annual budget regularly under review al their meetings and budgets and reports are prodL+ced durlng the year. This risk has become the key risk facing the charity now as the city council withdraws ils grant fully from April 2026. This loss of annual incoire will have to be replaced by either a reduction in costs lof which the largest is salaries) or Increases in project income, Any reduction in staff ing however is inconsislenl with the requirement lo increase project income The directors and staff work lo maintain good relations with the City Council and ils major customers and additional funding from other sources is obtained wherever p055ible lo 5upplemenl the main grant. A further risk facing the charity lo its medium-term financial stability is in relation to the costs associated with ils occupation of accommodation in Studio 144, since the charity has al present no formal lease and there is no quantificalion of the likely service costs which may be levied by the university in the future.
CITY EYE LIMITED REPORT OF THE DIRECTORS CONTINUED FUTURE DEVELOPMENTS The charity will continue to develop ils programme of education and training, aiming lo involve greater numbers of people from all sections of the community, Funding will be identified and sought lo improve the facilities available to support the growth of the education programme. Work lo support the development of new film, emergent and established filmmakers along with activity to embed Ihe medium in the community through engagement on filmmaking projects and screenings will continue to be key areas of focus. Regrettably the charity has been advised that the grant received from Southampton City Council would be phased out across 2024125 and 2025126 wllh Ilie expectation Ihal in the 2026127 year no grant would be made. This cul responds to the challenging financial sltualion which the cou ncil is experiencing and will affect all grant funded arts and cultural organisalions in the city. The impact of this cut for City Eye is Significant. Work continues with John Hansard Gallery, Mayflower Theatre, University of Soulhamplon and Soulhamplon City Council, the or9anisalional partners in Studio 144, Soulhainplon's city cei)tre arts complex. City Eye will continue lo engage with initiallves focLised on the development of audlence for and animation of Soulhamplon's Cultural Quarter. The charity anlicipales being able lo expand ils technical abilities with the new equipment acquired over the last three years via the University of Soulhamplon's capital trust fund. The extent of future development is however dependent on securing the necessary project funding, and on securing increased access to the premises. The key issue facing the charlty is to secure increases in revenue and reducing costs SO 8S to return to a positive balance on ils general reserve. The board of directors and the staff will work together through the next two years to address these key challenges and will Identify and secure allernalive funding to replace the city council annual grant. The Trustees have given full consideration lo the challenges presented by the current financial position of the charlly and the difficult funding climate and are alert to the vulnerability thls creates for City Eye, Having appraised its pipeline of forthcoming work and sustained clienl-base, the positive support offered by ils partner organisations, and the opportLinities which have yel lo be realised at the Studio 144 facilities, trustees remain committed to securing a more positive outlook for the charity across the coming period. Developments for the wider filin industry and the regional econom ic benefits predicted with Ihe eslablishmenl of the new Hampshire and Solent Film Office, together with the role which City Eye will play in delivefing a stronger film industry in the region, also give cause for optimism. PUBLIC BENEFIT STATEMENT In accordance with the requirements of the Charities Acl 2011 and the associated Charities {Accounls and Reports} Regulations 2008, the directors confirm that they have complied with their duties to have due regard to the guidance on public benefit as published by the Charity Commission, In exercislng their powers and duties in the year under review. 13
CITY EYE LIMITED REPORT OF THE DIRECTORS CONTINUED STATEMENT OF DIRECTORS, RESPONSIBILITIES The directors are responsible for preparing the Report of the Directors and accounts in accordance with applicable law and regulallons. Company law requires the directors to prepare finaiicial slalemenls for each financial year U nder that law the directors have elected lo prepare the financial statements in accordance with Un ited Kingdom Generally Accepted Accounting Practice Iunited Kingdom Accounting Standards and applicable law). including the Charity SORP. Under company law the directors must not approve the financial slalemenls unless they are satisfied that they give a true and fair view of the stale of affairs of the company and of the profil or loss of the company for that period. I n prepariiig those financial statements, the d irectors are required to.. select suitable accounting policies and then apply them consislenlly make judgments and estimates that are reasonable and prudent prepare accounts on a going concern basi5 unless il is inappropriate to presume Ih8t the company will conlinue in business, The directors are responsible for keeping proper accounting records whlch disclose wllh reasonable accuracy at any lime the financial position of the company and that enable them to ensure that the accounts comply with the Companies Act 2006, They are also responsible for safegLiarding the assets of the coinpany and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. This report has been prepared in accordance with Ihe provisions of Part 15 01 the Companies Act 2006 relallng lo small companies. BYO R OF THE BOARD Susan Beckett Secretary, Southampton Dale.. 11 December 2025 14
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CITY EYE LIMITED CHARITABLE COMPANY I report lo the charity trustees on my examination of the accounts of the comp8ny charity for the year ended 31 March 2025, which are sel out on pages 1610 26. Res orisibililies and basis of re ort As the charity's Iruslees of the company land also ils directors for the purposes of company lawl 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 lo be audited under Part 16 of the 2006 Act and are eligible for independent examlnatlon, 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 145151 Ibl of the 2011 Act. Inde endenl examiner's statement I have completed my examination. I confirm that no mallers have come to my attenllon in connection with the examinatlon giving me cause to believe.. accounting records were not kept in respect of the company as required by Section 386 of the 2006 Act,, or 2. the accounts do not accord wllh those records,. or 3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not Inatler considered as part of my examination.. or 4. The accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by Charities applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021. I have iio concerns and have come across no other matters in connection with the examination to which allenlion should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Robert Anthony 36 Merdon Avenue Chandlers Ford Easlleigh Hampshire S053 1 EP 11 December 2025
CITY EYE LIMITED INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 202 Noles 2024125 2023124 INCOME Income from charitable activities 122,934 100,113 EXPENDITURE Charitable activities 122,168 126,601 SURPLUSIIDEFICITI ON OPERATING ACTIVITIES 766 -26,488 Bank interest recelved SURPLUSI{DEFICITI ON ORDINARY ACTIVITIES BEFORE TAXATION 766 -26,488 Corporation Tax SURPLUSIIDEFICITI FOR THE YEAR AFTER TAXATION 12 £766 -£26.488 16
CITY EYE LIMITED COMPANY NUMBER 02786596 BALANCE SHEET AT 31 MARCH 2025 Notes 2025 2024 TANGIBLE FIXED ASSETS 37,295 32,657 CURRENT ASSETS Debtors Cash al bank and in hand 15,836 20,220 16,588 13,396 36,056 29,984 CREDITORS.. Amounts falling due within one year 53,637 43,693 NET CURRENT ILIABILITIES)IASSETS -17,581 -13,709 NET ASSETS £19,714 £18,948 FUNDS OF THE CHARITY Unrestricted f unds., Income and expenditure account Designated revenue reserve Designated capital reserve -17,581 -13,709 10 497 663 -17,084 -13,046 Restricted fLinds', Revenue funds (page 181 Capital funds 36,798 31,994 TOTAL FUNDS 12 £19,714 £18,948 For the financial year ended 31 March 2025 the company w8s entitled to exemption from audit under section 477 of the Companies Act 2006 and no notice has been deposited under section 476. The directors acknowledge their responsibilities for ensuring that the company keep5 accounting records which comply with section 386 and for preparing accounts which give a true and fair view of the stale of affairs of the company as at 31 March 2025 and of its result for the financial year in accordance with the requirements of section 396 and which otherwise comply with the requirements of the Companies Act 2006 relating lo accounts, so far as applicable to the company. The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006. The accounts on pages 16 to 26 were approved by the Board of Directors and aulhorised for issue on 11 December 2025 and are signed by: Director Peter Thompson Director Glen Jevon 17
CITY EYE LIMITED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 Reslricled Restricted revenue ca funds funds Unrestri¢led funds Total 2025 Total 2024 Income from: Charitable activities 100,104 2,625 20,205 122,934 100,113 Expendlture on: Charitable actlvilies 103,817 2,950 15,401 122,168 126,601 Nel movement of funds -3,713 -325 4,804 766 -26,488 Reconciliation of funds.. Funds brought forward -13,046 31,994 18,948 4S,436 Transfers between funds -325 325 Funds carried forward -£17,084 £36,798 £19,714 £18,948 Analysis of net assets between funds Tangible fixed asset5 Debtors Cash at bank Les5.' Creditors 497 14,480 21,576 -53,637 36,798 1,356 -1,358 37,295 15,836 20,220 -53,637 32,657 16,588 13,396 - 43,693 Total net assets -£17.084 £36,798 £19,714 £18,948 The net movement of funds figure of £766 is equivalent to the surplus of income over expenditure for the year as shown in the income and expenditure account on page 18. The balance on the income and expenditure account of £19,714 equals the lolal nel as5els at 31 March 2025 shown above. The unrestricted revenue funds are analy5ed in note 10.
CITY EYE LIMITED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025- COMPARATIVE Restricted Restricted revenue ca funds funds Unrestricted funds Total 2024 Tola 2023 Incom8 from.. Charitable activiti88 80,669 5.000 14,444 100,113 99,507 Expendlture on: Charitable aclivitl8S 110,937 5,000 10,664 126,601 103,940 Nel movement of funds -30,268 3,780 -26,488 4,433 Reconciliation of funds,, Funds brought fomard 17,222 28,214 45,436 49,869 Funds carried forward -£13,046 £31,994 £18,948 £45,436 Analysls of net assets between fund8 Tangible fixed assets Debtors Cash al bank Less., Creditors 683 16,588 13,396 -43,693 31,994 32,657 16,588 13,398 43,693 29,098 38,177 2,651 24,490 Total nel assets -£13.046 £31,994 £18,948 £45,436 The net movement of funds figure of £26,488 is equivalent to the deficit of income over expenditure for the year as shown in the income and expenditure account on page 16. The balance on the income and expenditure account of £18,948 equals the lolal nel assets at 31 March 2024 shown above. The unrestricled revenue funds are analysed in note 10
CITY EYE LIMITED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2026 1. ACCOUNTING POLICIES Basis of accountin The company uses the historical cost basis of accounting, and the accounts are drawn up in accordance with the requirements of the Statement of Recommended Practice of AcGounling by Charitie5 - SORP IFRS 102) second edition, as issued by the Charity Commission effectlve from October 2019. Goin concern The accounts have been prepared on the basis that il is a going concern at 31 March 2025 and will have adequate resources for it lo continue for at least a further 12 months from the dale of signing these accounts. The charity made a small surplus for the year bul still has a deficit on its general reserve al 31 March 2025. The charity has been able lo continue to operate by careful cash-flow management, r8duced staffing and by laking extended credit in certain situations. The directors have therefore adopted the going-concern assumption as the basis for preparing these accounls, No provision has therefore been made In these accounts for any adjustments Ihal may be necessary if this basis were not adopted Income Income represen15 revenue and capital grants receivable and project fees for work done and eqLJipment hire. Giants and amounts invoiced in advance of the project work being completed are included in Creditors a5 deferred income. Grants received for general revenue purposes are Irealed as unreslricled funds,. grants received that are specified by the donor for a specific purpose are treated as restricted funds. Grants are included as receivable when the company has an unconditional entitlement to the fund5 at the year-end. Tan ible fixed assets Tangible fixed assets 8re slated in the balance sheet at cost less capllal grants received less accumulaled depreciation. Depreciation is provided to write off the cost of these assets over their estimated useful life on the reducing balance basis at the rale of 250/0 per annum. Where tangible lixed assets are donated to the charity and are m81erial and Ihelr value can be assessed with reasonable aocuracy, they are included in the balance sheet as assets and depreciated in the normal manner Their value is included as restricted grant income and the depreciation is allocated against the restricted income, such that the net book value of the assets at the year-end is equSvalent lo the balance on the restricted fund. Tangible fixed assets purchased from capital funds held by the charity in trust for the University of Southampton are included in the balance sheet al their cost less accumulated depreciation, since the charity has beneficial use of these assets, Their value is represented by a restricted income fund, against which depreciation charged on these assets is allocated. 20
CITY EYE LIMITED NOTES TO THE ACCOUNTS Continued I. ACCOUNTING POLICIES - conliniied Allocation of SU ort costs In view of the small size of the charity, il is not practical to attempt lo allocate staff time and other office related overheads between charitable activities and governance, and so all such costs have been allocated lo the c05t of charitable activities, these being by far Ilie most predominant activity. Restricted and unreslricted funds The company has a policy of distinguishing its reserves lor funds) belween unrestricted or general reserves, and reslrlcted reserves. The latter arise from income that is unspent by the year-end, bul where the donor has specified th8 use lo which the money is lo be put. The unreslricled reserves are designated by the directors where necessary, lo fund future events, aGlivilie5 or capllal expend ilure for which the funds were received. Unreslricled fLinds can be designated by the charity for a specific purpose. The charity had one such designated I'evenue reserve, relating to funds provided by the Southampton City Council in the past to assist in meeting the extra costs of operating from the new premise5 of Studio 144, This fund was fully ulilised in 2023124 and there has been no available funds lo enable the reserve lo be re-instated. Capital funds provided by the University of Soulhamplon in order to equip Studio 144 which are unspent al the year-end are held in trust and as such are not inclLided in the balance sheet as cash al bank. Ca ital reserve Where tangible fixed assets are purchased from revenue funds, an amount equal to their cost is transferred lo a capital reserve, from the income and expendlture account. This is a designated rather than reslricled fund, in that p8rt of the unreslricled or general reserves have been applied for a purpose specified by the trustees of the charity. As the tangible flxed assets are depreciated, an 8mount equal lo this depreciation is then released to the income and expenditure account. The balance on the capital reserve is therefore equal lo the nel book value of the tangible fixed asset5 financed. Com anies Act 2006 The directors have departed from the exact formats laid down by the Companies Act 2006 in order for the accounts lo gve a true and fair view of the company's affairs. 21
CITY EYE LIMITED NOTES TO THE ACCOUNTS Continued 2. INCOME FROM CHARITABLE ACTIVITIES 2024125 2023124 Unrestricted funds.. General revenue grants,. Southampton City Council 20,000 26,527 Income from activitie5-. Project fees and event income BFI Academy Screen I nduslries skills boolcamp BFI Academy sponsorship Workshop fees 40,298 16,342 22,920 32,490 20,272 650 730 544 80,104 54,142 Total unreslricled funds 100,104 80,669 Reslricled fLinds'. Revenue funds,, Southampton Film Week Watershed Arts Centre Go. Southampton University of Southamplon 2,625 3,000 1,000 1,000 2,625 5,000 Capital funds.. University of Southampton Soulhamplon City Counci 20,205 9,981 4,463 20,205 14,444 Total restricted funds 22,830 19,444 Total income £122,934 £100,113 3. COST OF CHARITABLE ACTIVITIES Staff costs (note 41 Direcl project costs including BFI Academy and Film Skills boolcamp Freelance filming fees Soulhamplon Film Week Computer maintenance Websites and social media Online services Rates for Studio 144 Insurance Support costs (note 5> Depreciation 72,668 85,118 12,192 4,310 2.950 1,200 835 1,283 5,968 2,929 5,400 12,433 7,438 7,436 4,982 1.200 555 1,177 1,708 2,438 3,664 10,885 £122,168 £126,601 22
CITY EYE LIMITED NOTES TO THE ACCOUNTS Continued 2024125 2023124 4. STAFF COSTS Salaries Employers National Insurance Pension contributions Training and DBS checks 68,624 1,960 1,684 400 80,511 2,590 1,8S4 163 £72,668 £85,118 The company had on average two full-time employees (2024.. two full-tiine and one part-lime employee) during the year, excluding directors. The directors received no remuneration for their services as directors. No re-imbursement of trustee expenses was made in the year {2024.' nil). Under11)e terms of the charity's constitution, the directors are able to charge for their professional services rendered. The director Glen Jevon charged fees for h is professional filming services and for the year ended 31 March 2025 these amounted to £4,41012023124.' £7,753) Remuneration paid to the key Inanagemenl personnel, not being a Iruslee, was £38,624 {2023124. £38,624) 2024125 2023124 5. SUPPORT COSTS Slalionery, postage and office Telephone Freelance adminislralioii fees Travel and subsist8nce Bookkeeping Accountancy and Independent Examination Subscriptions Research Sundries Exchange loss Paypal commission Evenlbrile commission Late payment interest 118 128 959 581 462 1,620 331 89 143 477 534 1,530 124 189 209 31 25 110 203 296 48 14 68 775 £5,400 £3,664 6. CORPORATION TAX No charge to Corporation tax arises since the company is a registered charily. 23
CITY EYE LIMITED NOTES TO THE ACCOUNTS Continued 7. TANGIBLE FIXED ASSETS Film, video and computer equipment COST Al 1 April 2024 Additions 95,375 17,071 At 31 March 2025 112,446 DEPRECIATION Al 1 April 2024 Provided 62,718 12,433 Al 31 March 2025 75,151 NET BOOKVALUE At 31 March 2025 £37,295 At 31 March 2024 £32,657 2025 2024 8. DEBTORS Amounts falling due within one year,. Project income debtors Prepaymeiils and accrued income Other debtors 5,750 8,730 1,356 14,633 150 1,805 £15,836 £16,588 There are no amounts falling due after more than one year. 9. CREDITORS Amounts felling due within one year-, Trade creditors Taxation and social security payable Accruals and other creditors Deferred income 2,625 12.262 25,486 13,264 1.578 13,659 13,192 15,264 £53,637 £43,693 There are no amounts falling due after more than one year. 24
CITY EYE LIMITED NOTES TO THE ACCOUNTS Continued 10. UNRESTRICTED FUNDS General fund Capital Premis8S fL*nd fund Total Balance brought forward Surplus for the year Transfer lo general fund re tangible fixed assets (see below} Transfer lo restrlcted revenue fund -13,709 -3,713 663 -13,046 .3,713 168 -325 -166 -325 Balance carried forward -£17,581 £497 -£17,084 The transfer lo the capital fund from the income and expenditure account is in respecl of.. Depreciation charged for the year Depreciation allocated to reslricled capital funds 12,433 12,267 Nel transfer from the capital fund £166 The balance on the capital fund of £497 represents the company's investment in ils tangible fixed assets. With the amount of the restricted capital funds of £36,798. this equals the total net book value of the tangible fixed assets shown in note 7 of £37,295. 11. RESTRICTED CAPITAL FUNDS BroLig hl Funds fOard receivable Funds allocated Total University of Solilhairplon Southampton City Council Pheonix Film Society Soulhamplon Solent University Screen South 26,534 3,348 214 1,856 42 20,205 14,035 837 54 464 32,704 2,511 160 1,392 31 Balance carried forward £31.994 £20,205 £15,401 £36,798 25
CITY EYE LIMITED NOTES TO THE ACCOUNTS Continued 2025 2024 12 STATEMENT OF MOVEMENT IN FUNDS Opening funds Surpluslldeficit} for the year Ipage 16} 18,948 766 45,436 -26,488 Closing funds £19,714 £18,948 13. RELATED PARTIES There are no disclosures required In respect of transactions with related parties, other than the transactions relaliiig lo the director for professional servlces provided as described in note 4. 14, CONTINGENT LIA81LITY The company has entered into a Tenancy Al Will in relation lo ils occupation of rooms wlthln the 8rls complex known as Studio 144 Ils immediate landlord is the John Hansard Gallery whicli is department of11)e University of Soulhamplon. To dale the company has not received any demands from the university for any rent or service charges that may be due once the company has entered into a formal lease for the occupation of these preirises. As these charges are not quantified al the present time, no provision has been made in these financial statements for the possible c05t. 28