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2023-03-31-accounts

REGISTERED COMPANY NUMBER: 03443981 (England and Wales) REGISTERED CHARITY NUMBER: 1095587

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 March 2023

for

Somerset Film And Video Ltd

Maxwells Chartered Accountants

4 King Square Bridgwater Somerset TA6 3YF

Somerset Film And Video Ltd

Contents of the Financial Statements for the Year Ended 31 March 2023

Page
Reference and Administrative Details 1
Report of the Trustees 2 to 6
Independent Examiner's Report 7
Statement of Financial Activities 8
Balance Sheet 9 to 10
Notes to the Financial Statements 11 to 23
Detailed Statement of Financial Activities 24 to 25

Somerset Film And Video Ltd

Reference and Administrative Details for the Year Ended 31 March 2023

TRUSTEES A Buchanan TV Producer
S Isherwood Arts Consultant
J Mellor Consultant
J Waters Freelance Cameraman
N Williams Media technician
P Burr Retired
Miss H L Earl Artist
Mrs A J Maclay Marketing Consultant (appointed 16.11.22)
Mrs J L Latta Tv Producer / Director (resigned 10.10.23)
COMPANY SECRETARY P A R Shepherd
REGISTERED OFFICE The Engine Room
50-52 High Street
Bridgwater
Somerset
TA6 3BL
REGISTERED COMPANY 03443981 (England and Wales)
NUMBER
REGISTERED CHARITY 1095587
NUMBER
INDEPENDENT EXAMINER Maxwells
Chartered Accountants
4 King Square
Bridgwater
Somerset
TA6 3YF
BANKERS NatWest Bank plc
Leicester Rcsc
Bede House
11 Western Boulevard
Leicester
LE2 7EJ

Page 1

Somerset Film And Video Ltd

Report of the Trustees for the Year Ended 31 March 2023

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

Paragraph 3 of the Memorandum states that 'The Company's objects are the advancement of public education generally and, in particular, in moving image production and distribution'. To achieve this objective Somerset Film and Video Ltd promotes the moving image and digital media in Somerset, encouraging communication, collaboration and the sharing of skills to produce innovative work and to foster creative community engagement across the county.

Our vision is to give everyone in and around Somerset the opportunity to be creative with moving image and digital media, and through our collaborative approach, to act as a catalyst for a more just and equal society.

We operate county wide with a small professional core team, governed by a multi-skilled board of trustees. We are assisted by regular volunteers, and draw on a wide pool of professional collaborators to deliver our offer. We offer work experience and bursary opportunities.

Our work covers three key areas:

o Community Engagement o Talent Development o Content Creation

Our current priority beneficiaries are:

o Children and Young People o People from Diverse Backgrounds, in particular those:

These are reviewed on an annual basis.

While access to a camera on our phones turns many of us into media makers, the craft skills remain important, and opportunities to work with other makers are often elusive. Somerset Film provides access to skills and collaborative opportunities, connecting individuals and organisations that might otherwise not have a chance to work together. By exploring creativity with others in an informal setting our participants and producers have a chance to learn more about their own potential, and to identify the contribution they can make in the wider world. We are privileged to see on a daily basis how this process builds confidence and unlocks potential for personal growth and fulfilment in many fields. We are equally privileged to recognise the learning we gain on a daily basis from the mutually beneficial creative relationships we build with our users'

We are committed to addressing the growing demand for our services from the isolated and marginalised sections of society. We are doing what we can to minimise our impact on our changing climate, and to build resilience in the face of it. We are looking too at more specifically local challenges like the need to retain the young talent in the county, and the imperative to build wider support for the role of Somerset's cultural and creative industries for the future.

The charity website www.somersetfilm.com is regularly updated with past work including the most recent projects.

Public benefit

The trustees confirm that they have complied with the requirements of Section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Page 2

Somerset Film And Video Ltd

Report of the Trustees

for the Year Ended 31 March 2023

ACHIEVEMENT AND PERFORMANCE

Charitable activities

The year has been one of growth and excitement as we expanded our team, installed a lift, stairs and fitted out a new training room at The Engine Room and supported the creation of two award-winning films.

We were delighted that our application to be part of the Arts Council National Portfolio was successful, securing funding for a further three year programme of activity. We enjoyed the continued support of Bridgwater Town, Sedgemoor District, Somerset West and Taunton and South Somerset District Councils at a time of change in the county as it moved towards unitary authority.

Our programme of activity included:

o The Ignite programme delivered a range of activities designed to pass on digital skills to audiences and artists alike. Notable highlights include: - supporting artist Annie Farley to create the award winning animation 'The Man Who Mends Things';- working in partnership with Somerset Art Works engaging young people in Street to explore the idea of 'Raft' with artist Rory Pilgrim; - working with adults with learning differences to explore making music through touch using digital technology. We look forward to further developing work with and for neurodivergent adults, thanks to support from Discovery.

o Kinokotch, an expanded street cinema project led by filmmaker Dr John Sealey began delivery in Wells, with community workshops taking place at Wells Museum and Elim Connect Centre. Supported by Mendip District Council and Arts Council England two short films were commissioned from people who live or work in the smallest city in England.

o Our InspirED partnership offer to children and young people in education continued delivery of a project supported by Public Health to use the arts and creativity to address some of the impact of covid. We worked with artists Jan Ollis and Richard Tomlinson to explore textiles and digital photography. The project culminated in a CPD day for educators.

o The inaugural Wellington Film Festival was a huge success with over 1350 people attending 21 events including screenings, outdoor projections and other activities in Wellington. Initiated by the Town Working group, a steering committee of local residents shaped the events which took place at 11 venues in all. Their key goals were accessibility and affordability for the local community and to attract visitors from other areas. Somerset Film were the delivery partners, co-ordinating the events and bringing in our national partners INTO Film and BFI to support it. Our patron Julien Temple was one of three guest directors providing Q&A's before screenings of their work.

o Our BFI Film Academy programme once again imparted key skills to the next generation of local film making talent. Seventeen young people achieved Bronze Arts Award through a seven day programme of masterclasses and practical filmmaking.

o We continued to deliver the BFI Film Club pilot for ages 12 - 15 years in West Somerset. The 35-hour programme helped young people to watch and make films together.

o We celebrated diversity and engaged with a wide variety of groups through community events including cultural diversity at Bridgwater Together and Yeovil Together using green screen and motion-tracking animation activities, at Street CIAT Family Day for children with disabilities, exploring kaleidoscopic images and at Pride, capturing the voices of our LGBTQIA+ communities.

o Seed Sedgemoor, the first Creative People and Places Project in the South West, with events such as Blues in the Pews, Journey Exchange and Front Garden Music Festival as well as the installation of public art on the Esplanade in Burnham, chosen through community consultation. In Cheddar and Axbridge events such as Axbridge Heritage Trail and Cheddar Speed Crafting took place, whilst consultation began in the Chilton Polden area. Somerset Film is a consortium member and has a management role within the project.

o We continued to support the Bridgwater Cultural Partnership, sharing best practice and delivering creative activity for events such as Quayside Festival.

Page 3

Somerset Film And Video Ltd

Report of the Trustees for the Year Ended 31 March 2023

o Informed by our young people's advisory forum in 2022 we sought additional funds to enable more collaborations to take place. Supported by BFI Film Academy South West and to mark our 25th anniversary we were proud to support two emerging filmmakers to make original shorts, inspired by environmental themes. Ralph Hutchins of Taunton worked with BFI Film Academy alumni to make "Bonfires' whilst James Gardner of Brent Knoll wrote and directed his short 'Southfield Hill'.

o Thanks to support from Sedgemoor District Council work on fitting out the first floor of Number 50, which includes a new training room, additional office space and the installation of a staircase and lift (both of which now provide access to the top - second - floor.) was completed and opened to the public by alumni Craig Luck and the mayor Liz Leavy.

o Thanks to support from Mendip District Council, our expanded street cinema project led by filmmaker Dr John Sealey continued in Wells, with community workshops taking place at Wells Museum and Elim Connect Centre. Two short films were commissioned from people who live or work in the smallest city in England.

o We undertake commissions for a wide range of clients, offering training and work experience opportunities as well as generating a surplus, which helps to fund the charitable delivery. Despite being unable to film for much of the year, we adopted online recording platforms. Projects this year include films for Project Factory CIC, Somerset Wildlife Trust, Willow Tree Housing Partnership, Wells and Mendip Museum, Somerset County Council and South Western Housing Society. A notable example was commissioned by State of Trust. This ambitious dance film and site-specific outdoor performance projections sought to open community dialogue about racism, explode myths and develop awareness and empathy between cultures. Inspired by Samuel Taylor Coleridge's stance against slavery and his role as an abolitionist, projections captured the natural landscape between his home in Nether Stowey and Alfoxton Hall. The latter provided an impressive backdrop for the images, which were mixed with the live performance. A dance for camera film shot at Beckford's Tower will be seen at festivals in 2023.

FINANCIAL REVIEW

Financial position

The charity has continued to secure funding for specific projects and to develop an adequate level of free income reserves.

Incoming resources were £447,508 of which £253,303 related to unrestricted funds and £194,205 to restricted funds. Resources expended amounted to £300,096 of which £266,170 was from unrestricted funds and £105,161 from restricted funds.

The balance held on general unrestricted funds at the end of the year was £220,993 and the balance held on designated unrestricted funds was £325,056. The balance held on restricted funds at the end of the year was £100,577.

Policy on reserves

The trustees have a reserves policy based on the running costs of the organisation. They have set to increase the value of that reserve year on year until such time as it equates to three months running costs plus redundancy costs. Additional surplus will be earmarked to complete the capital development. We have continued to prioritise building links with businesses and to pursue contracts and support for the capital programme.

This year the trustees have created a £5k discretionary fund from the reserves, which will be used to meet staffing costs when they are sick and cannot access statutory sick pay.

PLANS FOR FUTURE PERIODS

Aims and key objectives for future periods

The charity is committed to consolidating its delivery in key areas and to growing engagement and audiences across the county.

We have secured a further three years investment from Arts Council England and £500k capital investment from the Town Deals fund to complete the fitting out of floor two in number 50, replace windows and external doors on the ground floor and to update our heavily used equipment.

We will continue to build on the strength of our board through an ongoing process of trustee recruitment and training.

Page 4

Somerset Film And Video Ltd

for the Year Ended 31 March 2023

Report of the Trustees

STRUCTURE, GOVERNANCE AND MANAGEMENT

Nature of governing document

Somerset Film and Video Ltd (operating as Somerset Film, the Engine Room and as Jump Cuts) is a charitable company limited by guarantee of its members. It was incorporated under the Companies Acts on 2 October 1997 and registered as a charity on 24 January 2003 and is governed by its Memorandum and Articles of Association.

Recruitment and appointment of new trustees

Vacancies on the Board are filled by new directors proposed by an existing director and elected by the Board. Directors are eligible for re-election on an annual basis. The election takes place at the AGM.

Organisational structure

The directors of the charity who form the Board of Directors are the ultimate governing body. The directors are the trustees of the charity. All directors are members of the charity and are due for re-election on an annual basis. Directors meet as necessary but at least quarterly. Responsibility for the day to day administration of the charity's activities is delegated to the Creative Director, reporting directly to the Board of Directors on all activities and referring all major decisions to the Board. The Company Secretary also has a role as Ambassador for Community Engagement within the organisation.

The directors endeavour to run the charity to the highest standards set by relevant bodies. The charity operates within the regulatory framework set by the Charity Commission and also complies with Company Law and appropriate Health and Safety regulations. In addition, the directors are aware of the charity's responsibilities to the young and vulnerable people involved in courses and projects.

The directors monitor the activities of the charity on an ongoing basis and confirm that they have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission in exercising their powers and duties.

Induction and training of new trustees

Directors are invited each year to attend a workshop at which the background, aims and objectives of the charity are discussed. Directors have also been offered the opportunity of attending training courses for charity trustees.

Major risks and management of those risks

It is confirmed that the major risks to which the charity is exposed, as identified by the directors, are reviewed at each board meeting and that systems have been established to mitigate those risks. The directors accept that the management and control of the charity rests with the Board of Directors and, as such, directors' involvement in the key aspects of the risk management process is essential, particularly in setting the parameters of the process and in the review and consideration of the results.

In particular the directors ensure that:

the identification, assessment and mitigation of risk is linked to the charity's charitable operational objectives

the process covers all areas of risk including financial, governance, operational and reputational risks and is focused primarily on major risks

the process seeks to produce a risk exposure profile that reflects the directors' views as to levels of acceptable risk

the risk management is ongoing and is embedded in management and operational procedures. Risk Register is a standing item at Board meetings.

Third party indemnity insurance policy

The charity maintains a third party indemnity insurance policy for the benefit of the Trustees. The policy was in force during the year and remains in force at the time of approval of this report.

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

Page 5

Somerset Film And Video Ltd

Report of the Trustees

for the Year Ended 31 March 2023

........................................................................ P Burr - Trustee

Page 6

Independent Examiner's Report to the Trustees of Somerset Film And Video Ltd

Independent examiner's report to the trustees of Somerset Film And Video Ltd ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2023.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) 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 to be audited under Part 16 of the 2006 Act and are eligible for independent examination, 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 145(5) (b) of the 2011 Act.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. 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 with those records; or

  2. 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 a matter considered as part of an independent examination; or

  3. 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 to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Clive Hall-Tomkin

Maxwells Chartered Accountants 4 King Square Bridgwater Somerset TA6 3YF

Date: .............................................

Page 7

Somerset Film And Video Ltd

Statement of Financial Activities for the Year Ended 31 March 2023

Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
3
177,394
Charitable activities
6
Charitable
12,676
Other trading activities
4
62,803
Investment income
5
430
Total
253,303
EXPENDITURE ON
Raising funds
7
20,094
Charitable activities
8
Project costs
67,916
Employment costs
103,041
Establishment costs
23,684
Repairs and maintenance
4,396
Office expenses
6,220
Printing postage and stationery
1,557
Subscriptions and donations
294
Cleaning
4,713
Bank charges
471
Bad debts
407
Travel and subsistence
2,198
Advertising and promotion
707
Legal and professional
-
Depreciation of tangible fixed assets
23,657
Sundries
-
Accountancy
6,815
Total
266,170
NET INCOME/(EXPENDITURE)
(12,867)
Transfers between funds
17
71,235
Net movement in funds
58,368
RECONCILIATION OF FUNDS
Total funds brought forward
487,681
TOTAL FUNDS CARRIED FORWARD
546,049		 Restricted
funds
£
194,205
-
-
-
194,205
-
17,974
11,568
285
2,397
422
174
-
57
54
-
904
-
-
-
-
91
33,926
160,279
(71,235)
89,044
11,533
100,577		 31.3.23
Total
funds
£
371,599
12,676
62,803
430
447,508
20,094
85,890
114,609
23,969
6,793
6,642
1,731
294
4,770
525
407
3,102
707
-
23,657
-
6,906
300,096
147,412
-
147,412
499,214
646,626		 31.3.22
Total
funds
£
714,057
3,904
26,798
42
744,801
20,830
279,883
213,322
34,335
62,063
5,267
4,365
275
5,605
371
263
1,220
20,642
4,871
18,841
1,243
9,942
683,338
61,463
-
61,463
437,751
499,214

CONTINUING OPERATIONS

All income and expenditure has arisen from continuing activities.

The notes form part of these financial statements

Page 8

Somerset Film And Video Ltd

Balance Sheet

31 March 2023

Notes
FIXED ASSETS
Tangible assets
14
CURRENT ASSETS
Debtors
15
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
16
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
NET ASSETS
FUNDS
17
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Unrestricted
funds
£
383,632
43,151
162,942
206,093
(43,676)
162,417
546,049
546,049		 Restricted
funds
£
71,235
-
29,342
29,342
-
29,342
100,577
100,577		 31.3.23
Total
funds
£
454,867
43,151
192,284
235,435
(43,676)
191,759
646,626
646,626
546,049
100,577
646,626		 31.3.22
Total
funds
£
404,178
66,459
82,184
148,643
(53,607)
95,036
499,214
499,214
487,681
11,533
499,214

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

continued...

Page 9

Somerset Film And Video Ltd

Balance Sheet - continued 31 March 2023

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:

............................................. P Burr - Trustee

The notes form part of these financial statements

Page 10

Somerset Film And Video Ltd

Notes to the Financial Statements for the Year Ended 31 March 2023

1. CHARITY STATUS

The charity is a private company limited by guarantee and does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared in accordance with applicable accounting standards and estimation techniques, the Statement of Recommended Practice - Accounting and Reporting by Charities (SORP 2005) and the Companies Act 2006.

Financial reporting standard 102 - reduced disclosure exemptions

The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Donations and legacies

Donations and grants are recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability. Where appropriate grants are included in a restricted fund and are used for the purpose that the grant was made.

Deferred income

Deferred income represents amounts received for future periods and is released to incoming resources in the period for which it has been received. Such income is only deferred when:

The donor specifies that the grant or donation must only be used in future accounting periods; or

The donor has imposed conditions which must be met before the charity has unconditional entitlement.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Raising funds

Costs of raising funds are the costs of trading for fundraising purposes.

Charitable activities

Income from charitable activities includes income recognised as earned (as the related goods or services are provided) under contract or where entitlement to grant funding is subject to specific performance conditions. Grant income included in this category provides funding support programme activities and is recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability.

continued...

Page 11

Somerset Film And Video Ltd

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Allocation and apportionment of costs

Capital expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources.

Governance costs include costs of the preparation and examination of the statutory accounts, the costs of trustee meetings and the costs of any legal advice to trustees on governance or constitutional matters.

Bank interest and other investment income is recognised on a receivable basis.

The charity has not received any material gifts in kind or services during the year.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery - Straight line over 3 years Fixtures and fittings - Straight line over 3 years Computer equipment - 33% on cost

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Where restricted funding is received for capital expenditure, and unless the funding agreement states otherwise, the value of the capital equipment or improvements purchased with the restricted funding is transferred to unrestricted funds, once the terms of the restricted funding have been met.

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

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

continued...

Page 12

Somerset Film And Video Ltd

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

3.
DONATIONS AND LEGACIES
Donations from individuals and organisations
Government Grants
Project grants
Grants received, included in the above, are as follows:
InspirED Somerset
Arts Council - Ignite Somerset
Capital Build
Womad
BFI Film Club
Kickstarter
Wellington Film Festival
Petroc
BFI Film Academy
Clothworkers
Viridor
Clark Foundation
Sedgmoor Creative People and Places
Same Difference
Watershed Arts Trust
Bridgwater Town Council - repair cafe
Somerset County Council - Flood Management Film
Somerset County Council - Down by The River
Somerset Rivers Authority
Spark Somerset CIO
Somerset County Council - Innovations SCF
Bridgwater Town Council - Quayside
Somerset Arts Works
South Somerset DC
Mendip District Council
Bridgwater Arts Centre - Fairytale week
Town Deal Fund
BFI Film HUb
Somerset County Council - SCF Discovery
Other grants		 31.3.23
£
4,232
-
367,367
371,599
31.3.23
£
-
89,062
-
400
6,781
-
1
2,549
16,806
-
-
-
47,361
700
1,000
-
-
-
-
150
1,450
1,245
804
2,500
5,000
671
173,000
8,477
9,410
-
367,367		 31.3.22
£
989
25,500
687,568
714,057
31.3.22
£
15,310
122,592
74,158
1,875
15,187
7,565
8,000
11,648
18,557
172
10,442
15,000
367,426
300
1,600
500
15,317
1,518
400
-
-
-
-
-
-
-
-
-
-
1
687,568

continued...

Page 13

Somerset Film And Video Ltd

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

4. OTHER TRADING ACTIVITIES OTHER TRADING ACTIVITIES
31.3.23 31.3.22
£ £
Cafe income 11,383 10,745
Commissions 51,420 16,053
62,803 26,798
5. INVESTMENT INCOME
Deposit account interest 31.3.23
£
430		 31.3.22
£
42
6. INCOME FROM CHARITABLE ACTIVITIES
Activity 31.3.23
£		 31.3.22
£
Equipment and facility hire Charitable 6,928 1,969
Course and workshops Charitable 2,642 1,935
Commissions Charitable 325 -
Services Charitable 2,255 -
Recharges Charitable 526 -
12,676 3,904
7. RAISING FUNDS
Other trading activities
Purchases 31.3.23
£
4,127		 31.3.22
£
3,957
Staff costs 15,967 16,873
20,094 20,830

Costs of trading activities relate to the Engine Room café.

continued...

Page 14

Somerset Film And Video Ltd

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

8. CHARITABLE ACTIVITIES COSTS

Project costs
Employment costs
Establishment costs
Repairs and maintenance
Office expenses
Printing postage and stationery
Subscriptions and donations
Cleaning
Bank charges
Bad debts
Travel and subsistence
Advertising and promotion
Depreciation of tangible fixed assets
Accountancy		 Direct
Costs
£
85,890
114,609
23,969
6,793
6,642
1,731
294
4,770
525
407
-
-
-
-
245,630		 Support
costs (see
note 9)
£
-
-
-
-
-
-
-
-
-
-
3,102
707
23,657
6,906
34,372		 Totals
£
85,890
114,609
23,969
6,793
6,642
1,731
294
4,770
525
407
3,102
707
23,657
6,906
280,002

£246,076 (2022 - £508,878) of the above expenditure was attributable to unrestricted funds and £105,161 (2022 - £153,630) to restricted funds.

9. SUPPORT COSTS

SUPPORT COSTS
Travel and subsistence
Advertising and promotion
Depreciation of tangible fixed assets
Accountancy		 Governance
costs
£
3,102
707
23,657
6,906
34,372

Support costs, included in the above, are as follows:

Travel and subsistence Travel
and
subsistence
£
3,102		 Advertising
and
promotion
£
-		 Depreciation
of
tangible
fixed
assets
£
-
Advertising and promotion - 707 -
Accountancy - - -
Sundries - - -
Depreciation of tangible fixed assets - - 23,657
3,102 707 23,657

continued...

Page 15

Somerset Film And Video Ltd

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

9. SUPPORT COSTS - continued

SUPPORT COSTS - continued
31.3.23 31.3.22
Total Total
Accountancy activities activities
£ £ £
Travel and subsistence - 3,102 1,220
Advertising and promotion - 707 20,642
Accountancy 6,906 6,906 9,942
Sundries - - 1,243
Depreciation of tangible fixed assets - 23,657 18,841
6,906 34,372 51,888
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets 31.3.23
£
23,657		 31.3.22
£
18,841

10. NET INCOME/(EXPENDITURE)

11. TRUSTEES' REMUNERATION AND BENEFITS

No trustees have been received any other benefits from the charity during the year.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.

12. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs		 31.3.23
31.3.22
£
£
14,983
15,333
210
1,201
774
339
15,967
16,873
The average monthly number of employees during the year was as follows:
Trading activities
Charitable activities		 31.3.23
31.3.22
2
2
8
10
10
12

5 (2022 - 9) of the above employees participated in the Defined Contribution Pension Scheme.

Pension costs relating to the charity's defined contribution pension scheme are allocated to activities and funds on the same basis as the allocation of wages and salaries costs for the employees in the scheme.

No employee received emoluments of more than £60,000 during the year.

The total employee benefits of the key management personnel of the charity were £27,192 (2022 - £26,654).

continued...

Page 16

Somerset Film And Video Ltd

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

13.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
510,923
Charitable activities
Charitable
3,904
Other trading activities
26,798
Investment income
42
Total
541,667
EXPENDITURE ON
Raising funds
20,830
Charitable activities
Project costs
250,830
Employment costs
181,716
Establishment costs
17,849
Repairs and maintenance
1,279
Office expenses
3,293
Printing postage and stationery
3,103
Subscriptions and donations
275
Cleaning
4,865
Bank charges
352
Bad debts
263
Travel and subsistence
704
Advertising and promotion
14,554
Legal and professional
-
Depreciation of tangible fixed assets
18,841
Sundries
1,243
Accountancy
9,711
Total
529,708
NET INCOME
11,959
Transfers between funds
64,125
Net movement in funds
76,084
RECONCILIATION OF FUNDS
Total funds brought forward
411,596
TOTAL FUNDS CARRIED FORWARD
487,680		 Restricted
funds
£
203,134
-
-
-
203,134
-
29,053
31,606
16,486
60,784
1,974
1,262
-
740
19
-
516
6,088
4,871
-
-
231
153,630
49,504
(64,125)
(14,621)
26,155
11,534		 Total
funds
£
714,057
3,904
26,798
42
744,801
20,830
279,883
213,322
34,335
62,063
5,267
4,365
275
5,605
371
263
1,220
20,642
4,871
18,841
1,243
9,942
683,338
61,463
-
61,463
437,751
499,214

continued...

Page 17

Somerset Film And Video Ltd

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

14. TANGIBLE FIXED ASSETS

COST
At 1 April 2022
Additions
At 31 March 2023
DEPRECIATION
At 1 April 2022
Charge for year
At 31 March 2023
NET BOOK VALUE
At 31 March 2023
At 31 March 2022		 Freehold
property
£
466,368
51,571
517,939
137,777
3,535
141,312
376,627
328,591		 Plant and
machinery
£
44,364
-
44,364
6,655
6,044
12,699
31,665
37,709		 Fixtures
and
fittings
£
61,909
2,586
64,495
27,641
5,155
32,796
31,699
34,268		 Computer
equipment
£
235,180
20,189
255,369
231,570
8,923
240,493
14,876
3,610		 Totals
£
807,821
74,346
882,167
403,643
23,657
427,300
454,867
404,178

Included within the net book value of land and buildings above is £Nil (2022 - £Nil) in respect of freehold land and buildings and £325,058 (2022 - £328,591) in respect of long leasehold improvements.

15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade debtors
Other debtors
Prepayments
Accrued income		 31.3.23
31.3.22
£
£
41,337
60,746
-
3,990
1,414
1,323
400
400
43,151
66,459
16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
VAT
SEED Sedgemoor
Accrued expenses
Deferred income		 31.3.23
31.3.22
£
£
6,385
32,551
8,610
1,384
-
5,117
10,933
11,209
17,748
3,346
43,676
53,607

continued...

Page 18

Somerset Film And Video Ltd

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

17. MOVEMENT IN FUNDS

Unrestricted funds
General fund
Property Assets Fund
Restricted funds
Homes in Sedgemoor Capital Fund
BFI Film Academy Fund
Clothworkers Foundation
Womad
Kickstarter
Wellington Film Festival
Business Improvement Grant
Town Deal
TOTAL FUNDS
Net movement in funds, included in the above are a
Unrestricted funds
General fund
Property Assets Fund
Restricted funds
BFI Film Academy Fund
Petroc
Womad
Wellington Film Festival
Business Improvement Grant
Town Deal
SCF Innovations
TOTAL FUNDS		 At 1.4.22
£
159,090
328,591
487,681
313
75
172
675
190
8,000
2,108
-
11,533
499,214
s follows:		 Net
movement
in funds
£
(9,332)
(3,535)
(12,867)
-
837
-
(675)
-
(7,998)
(2,108)
170,223
160,279
147,412
Incoming
resources
£
253,303
-
253,303
16,805
2,550
400
-
-
173,000
1,450
194,205
447,508		 Transfers
between
At
funds
31.3.23
£
£
71,235
220,993
-
325,056
71,235
546,049
-
313
-
912
-
172
-
-
-
190
-
2
-
-
(71,235)
98,988
(71,235)
100,577
-
646,626
Resources
Movement
expended
in funds
£
£
(262,635)
(9,332)
(3,535)
(3,535)
(266,170)
(12,867)
(15,968)
837
(2,550)
-
(1,075)
(675)
(7,998)
(7,998)
(2,108)
(2,108)
(2,777)
170,223
(1,450)
-
(33,926)
160,279
(300,096)
147,412

continued...

Page 19

Somerset Film And Video Ltd

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

17. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
General fund
Property Assets Fund
Restricted funds
Homes in Sedgemoor Capital Fund
BFI Film Academy Fund
Clothworkers Foundation
Capital Build
Womad
Kickstarter
Wellington Film Festival
Business Improvement Grant
TOTAL FUNDS		 At 1.4.21
£
79,470
332,126
411,596
313
-
-
25,842
-
-
-
-
26,155
437,751		 Net
movement
in funds
£
15,495
(3,535)
11,960
-
75
172
38,283
675
190
8,000
2,108
49,503
61,463		 Transfers
between
funds
£
64,125
-
64,125
-
-
-
(64,125)
-
-
-
-
(64,125)
-		 At
31.3.22
£
159,090
328,591
487,681
313
75
172
-
675
190
8,000
2,108
11,533
499,214

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Property Assets Fund
Restricted funds
BFI Film Academy Fund
Clothworkers Foundation
Covid Recovery
Capital Build
BFI Film Club
Petroc
Womad
Kickstarter
Wellington Film Festival
Business Improvement Grant
TOTAL FUNDS		 Incoming
resources
£
541,667
-
541,667
18,557
172
33,530
99,601
15,186
11,648
1,875
7,565
8,000
7,000
203,134
744,801		 Resources
Movemen
expended
in funds
£
£
(526,172)
15,495
(3,535)
(3,535)
(529,707)
11,960
(18,482)
75
-
172
(33,530)
-
(61,318)
38,283
(15,186)
-
(11,648)
-
(1,200)
675
(7,375)
190
-
8,000
(4,892)
2,108
(153,631)
49,503
(683,338)
61,463

continued...

Page 20

Somerset Film And Video Ltd

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

17. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
Property Assets Fund
Restricted funds
Homes in Sedgemoor Capital Fund
BFI Film Academy Fund
Clothworkers Foundation
Capital Build
Kickstarter
Wellington Film Festival
Town Deal
TOTAL FUNDS		 At 1.4.21
£
79,470
332,126
411,596
313
-
-
25,842
-
-
-
26,155
437,751		 Net
movement
in funds
£
6,163
(7,070)
(907)
-
912
172
38,283
190
2
170,223
209,782
208,875		 Transfers
between
funds
£
135,360
-
135,360
-
-
-
(64,125)
-
-
(71,235)
(135,360)
-		 At
31.3.23
£
220,993
325,056
546,049
313
912
172
-
190
2
98,988
100,577
646,626

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming
resources
£
Unrestricted funds
General fund
794,970
Property Assets Fund
-
794,970
Restricted funds
BFI Film Academy Fund
35,362
Clothworkers Foundation
172
Covid Recovery
33,530
Capital Build
99,601
BFI Film Club
15,186
Petroc
14,198
Womad
2,275
Kickstarter
7,565
Wellington Film Festival
8,000
Business Improvement Grant
7,000
Town Deal
173,000
SCF Innovations
1,450
397,339
TOTAL FUNDS
1,192,309		 Resources
Movemen
expended
in funds
£
£
(788,807)
6,163
(7,070)
(7,070)
(795,877)
(907)
(34,450)
912
-
172
(33,530)
-
(61,318)
38,283
(15,186)
-
(14,198)
-
(2,275)
-
(7,375)
190
(7,998)
2
(7,000)
-
(2,777)
170,223
(1,450)
-
(187,557)
209,782
(983,434)
208,875

The funds of the charity include the following unrestricted funds:

continued...

Page 21

Somerset Film And Video Ltd

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

17. MOVEMENT IN FUNDS - continued

Unrestricted Income Fund

This fund represents the 'free reserves' of the charity after allowing for all designated funds.

Designated Property Assets Fund

The Property Assets Fund has been set aside by the trustees as a separate designated fund corresponding to the value of unrestricted funds represented by capital expenditure by the charity on leasehold property improvements at its premises at the Engine Room, Bridgwater which are used on an ongoing basis for its charitable and other activities.

During the year £3,535 was transferred from the Property Assets Fund to the Unrestricted Income Fund, representing the depreciation charged on the leasehold property assets of the charity in respect of the year.

The funds of the charity include the above restricted funds comprising unexpended balances of grants held on trusts to be applied for specific purposes. Details of the restricted funds are as follows:

BFI Film Academy Fund

The purpose of the British Film Institute Film Academy fund is to provide a national programme for 16 - 19 year olds, developing the next generation of filmmaking talent.

Clothworkers Foundation

The purpose of the Clothworkers Foundation's is to provide capital support to reduce the impact of Covid.

Womad

The purpose of Womad is to provide an educational activity programme to celebrate diversity and provide children with the opportunity to produce sound and radio inspired by world culture.

Kickstarter

The purpose of Kickstarter is to provide a national government programme to create jobs for 16 to 24 year olds on Universal Credit.

Wellington Film Festival

The purpose of the Wellington Film Festival is to provide a three day festival of screenings, activities and events, funded and initiated by Wellington Town Council and supported by Somerset West and Taunton.

Sedgemoor District Council - Town Deal

The purpose of the Town Deal Fund is to provide capital investment to improve the Engine Room facilities.

Somerset County Council - SCF Innovations

The purpose of the Somerset Community Foundation is to provide innovation and organisational development support.

Petroc

The purpose of Petroc is to pass on digital skills to those seeking employment post-Covid pandemic.

continued...

Page 22

Somerset Film And Video Ltd

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

18. EMPLOYEE BENEFIT OBLIGATIONS

The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £2,145 (2022 - £4,311).

19. RELATED PARTY DISCLOSURES

Trustees who provide services to the charity must do so on a commercial basis and must tender for the contract in competition with other service providers. Details of fees paid to trustees for services provided during the year are shown in note 11.

During the year the charity also made the following transactions with other related parties:

Salient Features (2003) Ltd

(a company controlled by Mr P Shepherd, the company secretary)

Mr P Shepherd, the company secretary, acts as facilitator for the charity. His services are contracted to the charity by Salient Features (2003) Ltd, a company in which Mr P Shepherd has a controlling interest. During the year the charity paid £nil (2022 - £nil) to Salient Features (2003) Ltd in respect of facilitator services and associated costs. At the balance sheet date the amount due to Salient Features (2003) Ltd was £nil (2022 - £nil).

There were no other related party transactions in the year.

Page 23

Somerset Film And Video Ltd

Detailed Statement of Financial Activities for the Year Ended 31 March 2023

Detailed Statement of Financial Activities
for the Year Ended 31 March 2023
31.3.23 31.3.22
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Donations from individuals and organisations 4,232 989
Government Grants - 25,500
Project grants 367,367 687,568
Other trading activities 371,599 714,057
Cafe income 11,383 10,745
Commissions 51,420 16,053
Investment income 62,803 26,798
Deposit account interest 430 42
Charitable activities
Equipment and facility hire 6,928 1,969
Course and workshops 2,642 1,935
Commissions 325 -
Services 2,255 -
Recharges 526 -
12,676 3,904
Total incoming resources 447,508 744,801
EXPENDITURE
Other trading activities
Café expenses 4,127 3,957
Wages 14,983 15,333
Social security 210 1,201
Pensions 774 339
20,094 20,830
Charitable activities
Project costs 85,890 279,883
Employment costs 114,609 213,322
Establishment costs 23,969 34,335
Repairs and maintenance 6,793 62,063
Office expenses 6,642 5,267
Printing, post and stationery 1,731 4,365
Subscriptions 294 275
Cleaning 4,770 5,605
Carried forward 244,698 605,115

This page does not form part of the statutory financial statements

Page 24

Somerset Film And Video Ltd

Detailed Statement of Financial Activities
for the Year Ended 31 March 2023
31.3.23 31.3.22
£ £
Charitable activities
Brought forward 244,698 605,115
Bank charges 525 371
Bad debts 407 263
Legal and professional - 4,871
Support costs 245,630 610,620
Governance costs
Travel and subsistence 3,102 1,220
Advertising and promotion 707 20,642
Accountancy 6,906 9,942
Sundries - 1,243
Fixtures and fittings 23,657 18,841
34,372 51,888
Total resources expended 300,096 683,338
Net income 147,412 61,463

This page does not form part of the statutory financial statements

Page 25