OpenCharities

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2024-03-31-accounts

Docusign Envelope ID: 73839B7A-AFC5-4CC2-9070-14ABCE1CED55

Company number 4421812 Charity number England & Wales 1094936 Charity number Scotland SC049324

LUX

(Limited by Guarantee)

Report and Financial Statements for the year ended 31 March 2024

Breckman & Company Ltd Chartered Certified Accountants 49 South Molton Street London W1K 5LH

Docusign Envelope ID: 73839B7A-AFC5-4CC2-9070-14ABCE1CED55

LUX

(Limited by Guarantee)

Contents

Page
Reference and Administrative Details 1 - 2
Trustees' Report 3 - 8
Auditors' Report 9 - 12
Statement of Financial Activities (including Income and Expenditure Account) 13 - 20
Balance Sheet 21
Cash Flow Statement 22
Notes to the Financial Statements 23 - 35

Docusign Envelope ID: 73839B7A-AFC5-4CC2-9070-14ABCE1CED55

LUX

(Limited by Guarantee)

Reference and Administrative Details

Constitution

The company is a private company limited by guarantee registered in EW - England & Wales, company number 4421812, incorporated under the Companies Act, and its governing document is its Memorandum and Articles of Association. The company is a registered charity in England & Wales, number 1094936, and in Scotland, number SC049324.

Directors and trustees

The directors of the charitable company ("the charity") are its trustees for the purpose of charity law and throughout this report are collectively referred to as the trustees.

As set out in the Articles of Association the trustees are appointed as follows:

The subscribers to the memorandum and such other persons as are admitted to membership in accordance with the articles shall be members of the company. Subject to Article 7, every person who wishes to become a member shall deliver to the company an application for membership in such form as the trustees require signed by him or her.

Policies and procedures adopted for the induction and training of trustees are ongoing and incorporated indirectly into the regular trustees meetings.

The trustees during the year and since the year end, were:

Catherine Des Forges appointed 22 February 2024 Elke Finkenauer resigned 1 October 2024 Harry Fisher-Jones appointed 18 June 2024 Joanna Fraga Mamede Andrea Francke resigned 27 August 2024 Melissa Gronlund appointed 2 October 2024 Onyeka Igwe resigned 28 May 2024 Remi Lacroix appointed 17 October 2024 Dr So Mayer resigned 19 September 2024 Myriam Mouflih appointed 15 October 2024 Tessa Norton resigned 19 September 2024 Maria Palacios Cruz appointed 25 January 2025 Colm Peare Xavier Pillai (Chair) Alia Syed

Chief Executive

Benjamin Cook resigned 4 December 2024 Kitty Anderson Interim Chief Executive appointed 5 December 2024 to 31 March 2025 Alexandra Roche appointed 10 February 2025 (undertaking duties from 1 April 2025)

1

Docusign Envelope ID: 73839B7A-AFC5-4CC2-9070-14ABCE1CED55

LUX

(Limited by Guarantee)

Reference and Administrative Details

Auditors

Breckman & Company Ltd, Chartered Certified Accountants, 49 South Molton Street, London W1K 5LH.

Bankers

The Co-operative Bank, PO Box 200, Skelmersdale WN8 6GH. Triodos Bank, Deanery Road, Bristol BS1 5AS. Cater Allen Private Bank, 2 Triton Square, Regent's Place, London NW1 3AN.

Registered office and operation address

Waterlow Park Centre, Dartmouth Park Hill, London N19 5JF.

2

Docusign Envelope ID: 73839B7A-AFC5-4CC2-9070-14ABCE1CED55

LUX

(Limited by Guarantee)

Trustees' Report

The trustees present their annual report together with the financial statements of the charity for the year ended 31 March 2024 which are also prepared to meet the requirements for a directors' report and accounts for Companies Act purposes.

The reference and administrative details set out on page 1 form part of this report. The financial statements comply with Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association and 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).

Objectives and activities for the public benefit

The purpose of the charity is:

To promote, maintain, improve and advance education in the arts particularly the arts of film and video making and other moving image arts for the public benefit.

The charity has three main aims in reference to its objectives which are advocacy for moving image arts, providing access to moving image arts and supporting moving image arts. These aims and objectives are achieved through the following strategies:

Advocacy

Access

Support

In shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commission's guidance on public benefit, including the guidance 'public benefit : running a charity (PB2).

3

Docusign Envelope ID: 73839B7A-AFC5-4CC2-9070-14ABCE1CED55

LUX

(Limited by Guarantee)

Trustees' Report

Organisational structure

A board of trustees of up to 12 members, who meet quarterly, administers the charity. Trustees are appointed by the board of trustees. A Chief Executive, Benjamin Cook is appointed by the trustees to manage the day-to-day operations of the charity.

Policies and procedures adopted for the induction and training of trustees

Responsibility for the induction of new trustees rests with the current trustees. The induction procedure consists of an introduction to current trustees, all members of staff, to the charity's work and projects and a visit to the charity's offices and selected projects. Ongoing training needs of trustees are monitored and acted upon through a regular, pro-active process of board development.

Pay policy for senior staff

Staff pay/remuneration is reviewed on a yearly basis by the board of trustees, no staff receive more than £60,000 per annum.

Achievements and performance 2023/24

LUX is a national arts agency that exists to support and promote artists working with the moving image through distribution, exhibition, publishing, education and research. It has a public programme of exhibitions, screenings and publishing both in the UK and overseas, but the major part of its work is as a support network for artists' and artists organisations (representing artists' works, providing specialist advice and services to institutions and arts professionals) as well as the care, promotion and development of the UK's only significant collection of artists' film and video.

LUX's distribution service works to promote and support the work of over 1,500 artists annually - making artists work available to exhibitors on a national and international basis, providing pastoral care, professional advice and negotiating artists' fees to enable artists to develop a sustainable practice - this has expanded by 5 artists and 85 new works in the 2023/24. New artists represented in 2023/24: Deborah Stratman, Hetain Patel, Michelle Williams Gamaker, Suneil Sanzgiri, Gelare Khoshgozoran. We organise and host LUX artists' forum groups around the country which enable artists to explore ideas and professional issues with LUX and their peers as well as connect with other LUX groups around the UK and Ireland, currenting supporting groups in London, Newcastle, Nottingham, South West England, Wales, Dublin and Cork. We offer one-on-one advice sessions and workshops for artists in the UK supporting over 200 artists from around the UK.

LUX has a large and diverse international network ranging from artist-run spaces to major museums, we work with these partners to present UK artists work overseas and collaborate on the staging of screenings and exhibitions. LUX also works with international organisations and artists to present and make available their work in the UK both through distribution and public programming. LUX is invited to present its work and UK artists every month throughout the year at international screenings, galleries, festivals and biennials. In 2023/24 we worked with amongst others Badischer Kunstverein, Esker Foundation, Frac Ile-de-France, IndieLisboa, Istanbul Film Festival, Hot Docs Toronto, The Hunterian, Glasgow, Kunstmuseum St Gallen, Open City Docs, Power Station of Art Toronto, Tai Kwun Contemporary, Tate Britain, Wellcome Collection, Whitechapel Gallery.

We regularly work with the British Council and other national cultural agencies in terms of cultural exchange through exhibition exchanges, residencies and co-productions. LUX is part of a number of international networks to extend the reach of our work and access new markets for UK work. In 2023/24 LUX organised and delivered a curatorial development programme for curators from Sub Saharan Africa.

4

Docusign Envelope ID: 73839B7A-AFC5-4CC2-9070-14ABCE1CED55

LUX

(Limited by Guarantee)

Trustees' Report

LUX aims to advocate for and make accessible artists' moving image work to the general public and enable them to have their own creative experiences. As an agency we achieve this by annually supporting a large number of exhibitions, screenings and events on a local, national and international basis through our collection and distribution service with a wide range of partner organisations. We also organise touring projects which provide access to pre-curated selections of work which are presented in context with supporting materials for venues which may not have the capacity to develop projects themselves. We work with a range of partners to develop contextual event and engagement programmes responding to their core programme or special events . We usually organise our own public programme at our home bases in London and Glasgow and with host partners which take a range of forms from exhibitions to events to workshops appropriate to the artists and work we are presenting which again moved to online.

LUX aims to increase visitors to the LUX website, events and subscribers annually and seeks to improve visitor experience and accessibility.

Year on year we have sought to increase the reach and number of our audiences through distribution, partner programming and our own public projects. As we came out of the pandemic while audiences were initially tentative about returning to physical spaces we saw a slow but steady increase in audiences as the year progressed.

As a small committed organisation with a strong public ethos we pay close attention to these qualitative and experiential aspects of our work. We are an artist-centred organisation which works very closely with numerous artists on a long-term basis throughout their career. From day to day support of distribution artists, close working with commissioning and producing artists projects to our open emergent artist opportunities including one-on-one working with young artists and our peer-led groups we offer a bespoke attentive experience for the artists. In terms of our public programme we are invested in our work and advocacy for artists, works and high-quality presentation are key aims. We work closely on a personal level with all of our programme development - we carefully plan the appropriateness of each event, its staging and presentation, we work closely with the artists and each project is personally mediated by LUX staff. We pay attention to framing and interpretation so all activities include artists/curator talks, opportunities for audiences to discuss, as well as contextual material to explore works and themes in more detail.

LUX has continued to deliver a blended programme of on and off-line activity to offer maximum accessibility of local and national audiences across the UK. Programme highlights have included:

Exhibitions and Events:

Commissions:

5

Docusign Envelope ID: 73839B7A-AFC5-4CC2-9070-14ABCE1CED55

LUX

(Limited by Guarantee)

Trustees' Report

Residencies:

Organisational Development

Updated charitable aims and objectives for LUX to include the running of a museum where submitted to and approved by the Charity Commission.

Appointed new Head of Finance and Operations, new Administrator and new front of house staff.

Began an organisational review/reset process and appointed consultants People Make it Work to assist with the process.

Commissioned access audit of the Waterlow Park Centre building with support of City Bridge Trust. Established new Subject Special Network for UK museums working with artists' moving image with the support of the Art Fund.

Undertook research on expanding LUX activities to Wales in collaboration with Welsh arts organisations and artist community.

Plans for Future Periods

General aims and objectives 2024/25

6

Docusign Envelope ID: 73839B7A-AFC5-4CC2-9070-14ABCE1CED55

LUX

(Limited by Guarantee)

Trustees' Report

The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities.

Financial Review and Reserves Policy

The charity is aiming to maintain a level of free reserves i.e. those not invested in tangible fixed assets, that would sustain its operations over a three month period should its revenue grants and income generating activities be temporarily curtailed. This figure is currently £373,927. Restricted funds of £61,102 were held at the year-end.

Major Risks

The major strategic, business and operational risks which the charity faces are examined on a yearly basis as part of the forward planning process and systems established to lessen the risks. The major risks to the charity are that its revenue funding from Arts Council England would be withdrawn; funding has been confirmed now for the period 2023-27. Also, Creative Scotland have supported LUX Scotland on an annual basis for the past 8 years and based on our ongoing conversations we believe this support will continue. The second risk is that the organisation would not meet its self-generated income targets; all indications are that the income targets will be met; however the yearly budget also contains a degree of flexibility to allow for fluctuations. The lease for our building was renewed at the end of 2022 with the landlord London Borough of Camden giving us a new 10 year lease at the same cost. The final major risk is the cost of energy. We are currently protected from large increases as we benefit from paying for our energy through our landlord who has a preferential contract with energy suppliers.

Statement of Trustees Responsibilities

The trustees (who are also directors of LUX 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 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 the year. In preparing these financial statements, the trustees are required to:

7

Docusign Envelope ID: 73839B7A-AFC5-4CC2-9070-14ABCE1CED55

LUX

(Limited by Guarantee)

Trustees' Report

The trustees are responsible for keeping adequate 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, the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 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.

In so far as the trustees are aware at the time of approving our trustees' annual report:

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Small company exemptions

This report is prepared in accordance with the provisions of the Companies Act 2006 relating to small companies.

This report was approved by the Board of Trustees on 26 February 2025 and signed on its behalf by:

Xavier Pillai (Chair) Trustee

8

Docusign Envelope ID: 73839B7A-AFC5-4CC2-9070-14ABCE1CED55

Independent Auditors' Report to the Members of LUX

Opinion

We have audited the financial statements of LUX (the 'charitable company') for the year ended 31 March 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the trustees annual report, other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

9

Docusign Envelope ID: 73839B7A-AFC5-4CC2-9070-14ABCE1CED55

Independent Auditors' Report to the Members of LUX

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and the Charity Accounts (Scotland) Regulations (as amended) requirs us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees' responsibilities statement set out on pages 7 and 8, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

10

Docusign Envelope ID: 73839B7A-AFC5-4CC2-9070-14ABCE1CED55

Independent Auditors' Report to the Members of LUX

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our assessment focussed on key laws and regulations the charitable company has to comply with and areas of the financial statements we assessed as being more susceptible to misstatement. These key laws and regulations included but were not limited to compliance with the Companies Act 2006, Charities Act 2011, taxation legislation, data protection and employment legislation.

We are not responsible for preventing irregularities. Our approach to detecting irregularities included, but was not limited to, the following:

Whilst considering how our audit work addressed the detection of irregularities, we also considered the likelihood of detection based on our approach. Irregularities arising from fraud are inherently more difficult to detect than those arising from error.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

11

Docusign Envelope ID: 73839B7A-AFC5-4CC2-9070-14ABCE1CED55

Independent Auditors' Report to the Members of LUX

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and Regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Mr Graham Berry FCCA (Senior Statutory Auditor) For and on behalf of Breckman & Company Ltd Statutory Auditors Chartered Certified Accountants

49 South Molton Street London W1K 5LH

26 February 2025

12

Docusign Envelope ID: 73839B7A-AFC5-4CC2-9070-14ABCE1CED55

LUX

(Limited by Guarantee)

Statement of Financial Activities (including Income and Expenditure Account) for the year ended 31 March 2024

Unrestricted
Restricted
funds
funds
Notes
£
£
Income and endowments from:
2
Donations and legacies - page 15
206,473
-
Charitable activities:
Artistic income - pages 15 - 16
304,031
191,633
Investments
1,695
-
Other income
3
41,875
-
Total
554,074
191,633
Expenditure on:
Charitable activities:
Artistic programme - pages 17 - 18
557,200
310,720
Total
557,200
310,720
Net income/(expenditure)
4
)
(3,126
)
(119,087
Transfers between funds
16, 17
9,347
)
(9,347
Net movement in funds
6,221
)
(128,434
Reconciliation of funds:
Total funds brought forward
283,676
292,845
Total funds carried forward
289,897
164,411
Continued...		 2024
Unrestricted
Restricted
2023
Total
funds
funds
Total
restated
restated
restated
£
£
£
£
206,473
205,861
-
205,861
495,664
268,615
376,904
645,519
1,695
706
-
706
41,875
16,678
-
16,678
745,707
491,860
376,904
868,764
867,920
513,960
251,757
765,717
867,920
513,960
251,757
765,717
)
(122,213
)
(22,100
125,147
103,047
-
394
)
(394
-
)
(122,213
)
(21,706
124,753
103,047
576,521
305,382
168,092
473,474
454,308
283,676
292,845
576,521		 2024
Unrestricted
Restricted
2023
Total
funds
funds
Total
restated
restated
restated
£
£
£
£
206,473
205,861
-
205,861
495,664
268,615
376,904
645,519
1,695
706
-
706
41,875
16,678
-
16,678
745,707
491,860
376,904
868,764
867,920
513,960
251,757
765,717
867,920
513,960
251,757
765,717
)
(122,213
)
(22,100
125,147
103,047
-
394
)
(394
-
)
(122,213
)
(21,706
124,753
103,047
576,521
305,382
168,092
473,474
454,308
283,676
292,845
576,521
868,764
765,717
765,717
103,047
-
103,047
473,474
576,521

13

Docusign Envelope ID: 73839B7A-AFC5-4CC2-9070-14ABCE1CED55

LUX

(Limited by Guarantee)

Statement of Financial Activities (including Income and Expenditure Account) for the year ended 31 March 2024

Unrestricted
Restricted
funds
funds
Continued...
Notes
£
£
Reconciliation of funds:
Total funds carried forward
289,897
164,411
Prior period adjustment:
1.3
Restated total funds brought forward
386,985
189,536
Net movement in funds
6,221
)
(128,434
Transfers between funds - page 23
-
-
Restated total funds carried forward
16, 17
393,206
61,102		 2024
Unrestricted
Restricted
2023
Total
funds
funds
Total
restated
restated
restated
£
£
£
£
454,308
283,676
292,845
576,521
576,521
305,382
168,092
473,474
)
(122,213
)
(21,706
124,753
103,047
-
103,309
)
(103,309
-
454,308
386,985
189,536
576,521		 2024
Unrestricted
Restricted
2023
Total
funds
funds
Total
restated
restated
restated
£
£
£
£
454,308
283,676
292,845
576,521
576,521
305,382
168,092
473,474
)
(122,213
)
(21,706
124,753
103,047
-
103,309
)
(103,309
-
454,308
386,985
189,536
576,521
473,474
103,047
-
576,521

The notes on pages 23 to 35 form an integral part of these financial statements.

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derives from continuing activities.

14

Docusign Envelope ID: 73839B7A-AFC5-4CC2-9070-14ABCE1CED55

LUX

(Limited by Guarantee)

Year ended 31 March 2024

Income from donations and legacies
Arts Council England
NPO funding
Donations
Sundry
Income from charitable activities
Artistic income
Distribution hires
Edition sales
Publication sales
Distribution charges
Production services
Programming
Project income
Educational partnerships
Other income		 2024
£
205,841
632
206,473
176,880
50,000
10,617
21,059
2,503
3,217
30,480
8,139
1,136
304,031		 2023
£
205,841
20
205,861
163,426
17,200
9,681
22,496
2,555
10,352
29,151
13,969
)
(215
268,615

15

Docusign Envelope ID: 73839B7A-AFC5-4CC2-9070-14ABCE1CED55

LUX

(Limited by Guarantee)

Year ended 31 March 2024

Project specific funding
Grants/project income
Aberdeen City Council
AMIP
Art Fund
BBC
British Council
Cample Line
Creative Scotland
DWP
Film Hub Scotland
Film London
Fluxus
Glasgow School of Art
DCA
Royal College of Art
Royal Institute of Art, Stockholm
University of Glasgow
University of Westminster		 2024
£
8,000
2,620
1,700
-
34,622
212
125,926
-
355
336
173
986
3,313
2,890
8,000
100
2,400
191,633		 2023
£
9,914
-
36,000
7,500
7,468
-
305,651
8,011
800
-
-
1,560
-
-
-
-
-
376,904

16

Docusign Envelope ID: 73839B7A-AFC5-4CC2-9070-14ABCE1CED55

LUX

(Limited by Guarantee)

Year ended 31 March 2024

Expenditure on charitable activities
Artistic programme
Artistic salaries
Project salaries
Social security costs
Staff pension costs
Sundry project costs
Print publicity/catalogue
Website
Education
Programming
Balance carried forward		 2024
£
84,234
112,900
13,401
9,597
2,710
6,818
4,119
11,869
169,094
414,742		 2023
£
81,373
108,755
14,745
8,942
-
1,725
2,463
14,480
136,977
369,460

17

Docusign Envelope ID: 73839B7A-AFC5-4CC2-9070-14ABCE1CED55

LUX

(Limited by Guarantee)

Year ended 31 March 2024

Balance brought forward
Distribution costs
Opening stock
Closing stock
Salaries
Social security costs
Staff pension costs
Royalties
Edition expenses
Collection
Distribution expenses
Production services
Sundry
Support costs - page 19
Governance costs - page 20		 2024
£
1,087
)
(401
112,787
10,544
5,626
89,558
33,336
2,736
7,061
1,735
4,960		 £
414,742
269,029
134,231
49,918
867,920		 2023
£
1,374
)
(1,087
96,923
7,516
4,490
81,044
1,174
3,535
11,381
2,792
14,081		 £
369,460
223,223
143,585
29,449
765,717

18

Docusign Envelope ID: 73839B7A-AFC5-4CC2-9070-14ABCE1CED55

LUX

(Limited by Guarantee)

Year ended 31 March 2024

Support and governance costs
Support costs
Office overheads
Rent/rates
Services
Insurance
Amortisation of short leasehold
Depreciation of equipment
Depreciation of website
Administration costs
Salaries
London living bonus
Fees
Social security costs
Staff pension costs
Pension correction costs
Staff training/recruitment/welfare
Office supplies/courier/duty
IT
Sundry
Balance carried forward		 2024
£
34,269
7,815
5,523
394
106
4,810
44,789
5,020
3,313
3,693
1,918
-
11,063
5,210
6,283
25		 £
52,917
81,314
134,231		 2023
£
34,301
7,083
4,842
531
904
4,810
38,109
7,500
150
2,889
925
12,472
14,724
5,669
7,674
1,002		 £
52,471
91,114
143,585

19

Docusign Envelope ID: 73839B7A-AFC5-4CC2-9070-14ABCE1CED55

LUX

(Limited by Guarantee)

Year ended 31 March 2024

Balance brought forward
Governance costs
Legal/professional
Irrecoverable VAT
Bookkeeping
Accountancy/consultancy
Audit
Board/governance costs		 2024
£
12,515
18,430
6,140
7,600
3,500
1,733		 £
134,231
49,918
184,149		 2023
£
5,682
-
10,248
5,288
5,500
2,731		 £
143,585
29,449
173,034

Additional VAT payable of £18,430 arose due to re-assessment of the split between business and non-business activities in relation to VAT recoverable. The adjustment in the accounts for the year-ended 31 March 2024 relates to the period dating back to March 2021.

20

Docusign Envelope ID: 73839B7A-AFC5-4CC2-9070-14ABCE1CED55

LUX

(Limited by Guarantee)

Balance Sheet 31 March 2024

2023
2024 restated
Notes £ £ £ £
Fixed assets
Tangible assets 10 8,934 12,540
Current assets
Stocks 11 401 1,087
Debtors 12 81,507 107,418
Cash at bank and in hand 710,150 583,993
792,058 692,498
Liabilities
Creditors: amounts falling
due within one year 13 )
(346,684		 )
(128,517
Net current assets 445,374 563,981
Total assets less current
liabilities 454,308 576,521
The funds of the charity:
Unrestricted funds 16
- General fund 382,861 381,985
- Designated funds 10,345 5,000
393,206 386,985
Restricted funds 17 61,102 189,536
Total charity funds 454,308 576,521

The trustees have prepared these accounts in accordance with section 398 of the Companies Act 2006 and section 138 of the Charities Act 2011. These accounts are prepared in accordance with the special provisions of Part 15 of the Companies Act relating to small companies and constitute the annual accounts required by the Companies Act 2006 and are for circulation to members of the company.

The accounts were approved by the Board of Trustees on 26 February 2025 and signed on its behalf by

Xavier Pillai (Chair) Catherine Des Forges Trustee Trustee

The notes on pages 23 to 35 form an integral part of these financial statements.

21

Docusign Envelope ID: 73839B7A-AFC5-4CC2-9070-14ABCE1CED55

LUX

(Limited by Guarantee)

Cash Flow Statement for the year ended 31 March 2024

Notes
Cash flows from operating activities
22
Cash flows from investing activities:
21
Dividends, interest and rents from investments
Purchase of property, plant and equipment
Net cash provided by investment activities
Change in cash at bank and in hand in the reporting
period
Cash at bank and in hand at the beginning of the
reporting period
Cash at bank and in hand at the end of the
reporting period		 2024
£
126,166
1,695
)
(1,704
)
(9
126,157
583,993
710,150		 2023
£
122,840
706
)
(280
426
123,266
460,727
583,993

22

Docusign Envelope ID: 73839B7A-AFC5-4CC2-9070-14ABCE1CED55

LUX

(Limited by Guarantee)

Notes to the Financial Statements for the year ended 31 March 2024

1. Accounting policies

1.1. Basis of preparing the financial statements

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (issued in October 2019) 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) - (Charities SORP (FRS 102)), and the Companies Act 2006.

The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

1.2. Going Concern

The charity is dependent on the continued support of grant aiding bodies. The trustees believe that the charity will continue to receive this support and accordingly consider that it is appropriate to prepare the financial statements on the going concern basis.

1.3. Prior period adjustment

In preparing the accounts for the year ended 31 March 2024, a prior period adjustment was required as follows.

Reconciliation of funds and balances Unrestricted Restricted
Funds Funds
£ £
Fund balances as previously stated at 31 March 2023 283,676 292,845
Correction to closing fund balances 103,309 )
(103,309
Fund balances as restated at 31 March 2023 386,985 189,536

The LUX Scotland fund balance within the charity's restricted funds was previously overstated by £103,309. This was as a result of expenditure within the LUX Scotland fund being mis-allocated to general funds up to the end of the previous accounting year. Therefore a transfer to the general fund was made to correct restricted funds as at 31 March 2023.

The LUX Scotland fund balance carried forward at 31 March 2023 has been restated at £101,353, while the total balance of restricted funds carried forward at 31 March 2023 has been restated at £189,536. The unrestricted funds of the charity carried forward at 31 March 2023 have been restated at £386,985.

These totals have been carried forward into the 31 March 2024 year.

23

Docusign Envelope ID: 73839B7A-AFC5-4CC2-9070-14ABCE1CED55

LUX

(Limited by Guarantee)

Notes to the Financial Statements for the year ended 31 March 2024

1.4. Incoming resources

All incoming resources are included in the Statement of Financial Activities when:

- Donations and legacies

Grants/donations are recognised in incoming resources in the year in which they are receivable, except as follows:

- Charitable activities

Artistic income - income from hires, screenings, projects and sundry other artistic income is included in incoming resources in the period in which the relevant activity takes place.

Project specific funding - when donors specify that donations and grants are for particular restricted purposes, which do not amount to pre-conditions regarding entitlement, this income is included in incoming resources of restricted funds when receivable.

- Donated services and facilities

Donated services or facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. On receipt, donated services and facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

- Investment income

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

24

Docusign Envelope ID: 73839B7A-AFC5-4CC2-9070-14ABCE1CED55

LUX

(Limited by Guarantee)

Notes to the Financial Statements for the year ended 31 March 2024

1.5. Expenditure

All expenditure is included on an accruals basis inclusive of any VAT which cannot be recovered and is recognised when:

- Charitable activities

Costs incurred in the touring and presentation of events, exhibitions and the production and distribution of artists film and video.

- Support costs

The administrative and overhead costs associated with running the office from which the company operates as well as governance costs. Support costs are wholly attributable to the artistic programme.

- Governance costs

Costs associated with the constitutional and statutory requirements of the charity.

1.6. Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised as expenditure when due.

1.7. Fund accounting

Funds held by the charity are either:

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

1.8. Tangible fixed assets and depreciation

Individual fixed assets costing £1,000 or more are capitalised at cost.

Depreciation is provided at annual rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:

1.9. Stock

Stock is valued at the lower of cost and net realisable value.

25

Docusign Envelope ID: 73839B7A-AFC5-4CC2-9070-14ABCE1CED55

LUX

(Limited by Guarantee)

Notes to the Financial Statements for the year ended 31 March 2024

1.10. Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid after taking account of any trade discounts due.

1.11. Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.12. Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

1.13. Financial Instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value, and subsequently measured at their settlement value.

1.14. Significant Accounting Estimates and Judgements

In determining the carrying amounts of certain assets and liabilities, the charity makes assumptions of the effects of uncertain future events on those assets and liabilities at the balance sheet date. The charity's estimates and assumptions are based on historical experience and expectation of future events and are reviewed annually.

2. Incoming resources

3. Other income 2024 2023
£ £
Museums and Galleries Exhibition Tax Relief (MGETR) 41,875 16,678

26

Docusign Envelope ID: 73839B7A-AFC5-4CC2-9070-14ABCE1CED55

LUX

(Limited by Guarantee)

Notes to the Financial Statements for the year ended 31 March 2024

4. Net income/(expenditure) for the year is

Net income/(expenditure) for the year is
stated after charging: 2024 2023
£ £
Depreciation of tangible fixed assets 5,310 6,245
Operating lease rentals
- land/buildings 30,000 30,000
Auditors' remuneration
- external audit 3,500 5,500
- other services 7,600 5,288

5. Trustees' emoluments and reimbursed expenses

The trustees received no remuneration during the year (2023 - £nil).

The aggregated amount reimbursed to trustees during the year was £546 (2023 - £nil).

6. Transactions with trustees

Royalty payments of £1,375 (2023 - £135) were paid in the year to trustee Alia Syed. Royalty payments of £968 (2023 - £650) were paid in the year to trustee Onyeka Igwe.

27

Docusign Envelope ID: 73839B7A-AFC5-4CC2-9070-14ABCE1CED55

LUX

(Limited by Guarantee)

Notes to the Financial Statements for the year ended 31 March 2024

7. Staff costs and numbers

Staff costs
Salaries and wages
Social security costs
Pension costs
Ex-gratia payments
Pension error costs		 2024
£
354,710
27,638
17,141
5,020
-
404,509		 2023
£
325,160
25,150
14,357
7,500
12,472
384,639

No employee earned £60,000 or more during the year (2023 - nil).

The key management personnel of the charity comprise the Trustees and the Senior Management team. The total employee benefits of the key management personnel of the charity were £102,516 (2023 - £93,673).

Staff numbers

The average numbers of full-time equivalent employees (including casual and part time staff) during the year was made up as follows:


Artistic
Distribution
Administration
Projects		 2024
Number

2
4
6
5
17		 2023
Number
2
4
1
5
12

8. Pension costs

The company operates a defined contribution pension scheme in respect of its employees. The scheme and its assets are held by independent managers. The pension charge represents contributions due from the company and amounted to £17,141 (2023 - £14,357).

9. Corporation taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

28

Docusign Envelope ID: 73839B7A-AFC5-4CC2-9070-14ABCE1CED55

LUX

(Limited by Guarantee)

Notes to the Financial Statements for the year ended 31 March 2024

10.
Fixed assets - tangible assets
Short
leasehold
property
Equipment
Website
£
£
£
Cost
1 April 2023
23,254
171,746
19,239
Additions
-
1,704
-
Disposals
-
)
(3,815
-
31 March 2024
23,254
169,635
19,239
Depreciation
1 April 2023
22,860
171,536
7,303
Disposals
-
)
(3,815
-
Charge for year
394
106
4,810
31 March 2024
23,254
167,827
12,113
Net book values
31 March 2024
-
1,808
7,126
31 March 2023
394
210
11,936
11.
Stocks
2024
£
Stocks
401
12.
Debtors
2024
£
Trade debtors
22,978
Other debtors
7,500
Prepayments and accrued income
51,029
81,507		 Total
£
214,239
1,704
)
(3,815
212,128
201,699
)
(3,815
5,310
203,194
8,934
12,540
2023
£
1,087
2023
£
28,099
11,101
68,218
107,418

29

Docusign Envelope ID: 73839B7A-AFC5-4CC2-9070-14ABCE1CED55

LUX

(Limited by Guarantee)

Notes to the Financial Statements for the year ended 31 March 2024

13.
Creditors: amounts falling due
within one year
Trade creditors
Royalties payable
Other taxation/social security
Other creditors
Accruals
Deferred income (note 14)
14.
Deferred income
Balance at 1 April 2023
Amount deferred in the year
Balance at 31 March 2024		 2024
£
38,664
91,130
21,863
9,014
19,270
166,743
346,684		 2023
£
13,716
87,377
-
4,479
22,945
-
128,517
£
-
166,743
166,743

Deferred income relates to project income received in advance.

15. Limited by guarantee

The company is limited by guarantee and does not have a share capital. Each member gives a guarantee to contribute a sum, not exceeding £1, to the company should it be wound up. At 31 March 2024 there were 10 members.

30

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LUX

(Limited by Guarantee)

Notes to the Financial Statements for the year ended 31 March 2024

16. Unrestricted funds Brought
forward Incoming Outgoing Carried
restated resources resources Transfers forward
£ £ £ £ £
General fund 381,985 551,324 )
(542,345		 (8,103 ) 382,861
Designated funds:
LUX Scotland Complaint - - )
(3,390		 3,390 -
People Make It Work - - )
(4,650		 4,650 -
HR - - )
(4,410		 4,410 -
London Bridge - 2,750 )
(2,405		 - 345
LUX Scotland reserve 5,000 - - 5,000 10,000
386,985 554,074 )
(557,200		 9,347 393,206

LUX Scotland Complaint

Costs to support an independent investigation into a complaint towards LUX Scotland.

People Make It Work

Sub-contractor fund to support the organisation's reset process.

HR

HR fund to support organisational reset process.

London Bridge

This represents funding for access and equality awareness training.

LUX Scotland reserve

Reserve of LUX Scotland projects for transitional period and contingency.

31

Docusign Envelope ID: 73839B7A-AFC5-4CC2-9070-14ABCE1CED55

LUX

(Limited by Guarantee)

Notes to the Financial Statements for the year ended 31 March 2024

17. Restricted funds Brought
forward Incoming Outgoing Carried
restated resources resources Transfers forward
£ £ £ £ £
Aberdeen 3,066 8,000 )
(9,986		 - 1,080
Ajabu 2,258 - )
(1		 )
(2,200		 57
AMICN 3,600 - )
(993		 - 2,607
AMIF 7,851 - )
(4,794		 - 3,057
AMIP - 2,620 )
(2,620		 - -
Enderby 737 - - )
(737		 -
Dwoskino - 2,890 )
(2,890		 - -
Jonathan Ruffer - 1,700 )
(1,593		 - 107
Fluxus Art Projects - 173 )
(173		 - -
Annabel Nicolson: Fireworks 6,000 - - - 6,000
Social Infant - 8,000 )
(8,000		 - -
We Contain Multitudes - 3,313 )
(3,313		 - -
Glasgow School of Art - 986 )
(986		 - -
LUX Scotland 101,353 102,138 )
(170,611		 )
(2,087		 30,793
Margaret Tait Awards 38,864 24,791 )
(59,268		 4,150 8,537
Momentum 7,468 371 )
(4,812		 - 3,027
Marquiss 3,000 - )
(3,380		 380 -
Now & Next Receiver 6,289 - )
(36		 (6,253 ) -
Poland Research - 2,500 )
(1,188		 - 1,312
Scotland & Venice 8,450 - )
(4,188		 (2,000 ) 2,262
Women & the Law 600 - - )
(600		 -
Collective
An Viet 2023 - 34,151 )
(31,888		 - 2,263
189,536 191,633 )
(310,720		 )
(9,347		 61,102

Aberdeen

Artists' moving image development programme for the city of Aberdeen funded by Aberdeen City Council.

Ajabu

online screening series collaboration between LUX Scotland and Ajabu Ajabu Audio Visual House, Tanzania funded by British Council Scotland.

AMICN

Grant from Art Fund for Artists' Moving Image Collection Network project.

AMIF

Annual artists' Moving Image Festival taking place at Tramway, Glasgow.

32

Docusign Envelope ID: 73839B7A-AFC5-4CC2-9070-14ABCE1CED55

LUX

(Limited by Guarantee)

Notes to the Financial Statements for the year ended 31 March 2024

AMIP

Fund towards Artists’ Moving Image Programme (AMIP). The project is in development and is expected to be completed by the end of March 2025.

Enderby

Publication related to Stephen Sutcliffe & Graham Eatough exhibition No End to Enderby.

Dwoskino

Research project with Royal College of Art exploring class and disability within the work of filmmaker Stephen Dwoskin.

Jonathan Ruffer

LUX Scotland were awarded £1,700 from Art Fund for Edward Jones to travel to Canada to develop organisational knowledge on moving image artist's practices. The trip took place in February and has been reported on.

Fluxus Art Projects

LUX Scotland were awarded up to £1,000 from Fluxus to support research on performative film and moving images in France and Scotland.

Annabel Nicolson: Fireworks

A digitalisation fund agreement between BFI and LUX 'Unlocking Film Heritage' to enable digitalisation of selected films from the LUX archive collection for distribution purposes and public engagement that were previously inaccessible.

Social Infant

New film commission by artist Emanuel Almborg exploring social interactions between babies supported by the Royal Institute of Art, Stockholm.

We Contain Multitudes

In partnership with DCA and Collective we (LUX Scotland) were awarded £277,000 from Paul Hamlyn Foundation, which is being managed by DCA. As part of this project, LUX Scotland will directly receive approximately £32,100 to deliver commissions with disabled artists and arts professionals and provide training across their organisation over 2023-26.

Glasgow School of Art

Lux Scotland has been granted £10,000 from Glasgow School of Art as a contribution to a collaborative research programme around artists moving image. The project title is 'Moving Images Within Precarious Structures' and is expected to be completed by the end of March 2025.

LUX Scotland

Grant from Creative Scotland to support initiative for a LUX base in Scotland: exploring ideas around artists moving image practice through exhibition, distribution, publishing, education and research.

33

Docusign Envelope ID: 73839B7A-AFC5-4CC2-9070-14ABCE1CED55

LUX

(Limited by Guarantee)

Notes to the Financial Statements for the year ended 31 March 2024

Margaret Tait Awards

Annual award for a Scotland-based artist to produce an ambitious new film work.

Momentum

British Council fund to support LUX artist Charlotte Prodger exhibition at Mercer Union in Toronto.

Marquiss

Creative Scotland grant for development of Duncan Marquiss film project.

Now & Next Receiver

Commisioning and professional development project in partnership with BBC Arts and Creative Scotland.

Poland Research

LUX Scotland were awarded £2,500 from British Council for David Upton to undertake a research trip to Poland. The trip was undertaken in May 2023 and we are in discussion with BC about spending the remaining funds on an online screening programme. We expect the project to be completed by the end of March 2025.

Scotland & Venice

Touring as part of Scotland in Venice exhibition with Alberta Whittle.

Women & the Law Collective

Exhibition project at LUX organised by Cinenova.

An Viet 2023

Commissioning/ exhibition project in UK and Vietnam exploring the histories and legacies of An Viet, London's first Vietnamese community centre in partnership with Hackney Archives and supported by the British Council.

18. Analysis of net assets between funds

General
Designated
Restricted
funds
funds
funds
£
£
£
Fund balances at 31 March 2024
are represented by:
Tangible fixed assets
8,934
-
-
Net current assets
373,927
10,345
61,102
382,861
10,345
61,102		 Total
£
8,934
445,374
454,308

34

Docusign Envelope ID: 73839B7A-AFC5-4CC2-9070-14ABCE1CED55

LUX

(Limited by Guarantee)

Notes to the Financial Statements for the year ended 31 March 2024

19. Financial commitments

At 31 March 2024 the company had future minimum lease payments under non-cancellable operating leases, with payments falling due as follows:

Due:
Within one year
Between one and five years
In over five years		 Land/buildings
2024
2023
£
£
30,000
30,000
120,000
120,000
120,000
150,000
270,000
300,000		 Land/buildings
2024
2023
£
£
30,000
30,000
120,000
120,000
120,000
150,000
270,000
300,000
300,000

20. Related party transactions

The company had no related party transactions that required disclosure during the year other than those included in notes 4 and 5.

21. Gross Cash Flows

Returns on investments and servicing of finance
Interest received
Capital expenditure
Payments to acquire tangible assets		 2024
£
1,695
)
(1,704		 2023
£
706
)
(280

22. Reconciliation of net income/(expenditure) to net cashflow from operating activities

Net income/(expenditure) for the reporting
period (as per the statement of financial
activities)
Depreciation/amortisation
Dividends, interest and rents from investments
Decrease in stocks
Decrease in debtors
Increase/(decrease) in creditors
Net cash inflow from operating activities		 2024
£
)
(122,213
5,310
)
(1,695
686
25,911
218,167
126,166		 2023
£
103,047
6,245
)
(706
287
33,853
)
(19,886
122,840

35