**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 2025 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 2025 |||Page|| |---|---|---|---| |Reference and Administrative Details||1|| |Report of the Trustees|2|to|5| |Independent Examiner's Report||6|| |Statement of Financial Activities||7|| |Balance Sheet||8|| |Notes to the Financial Statements|9|to|21| |Detailed Statement of Financial Activities|22|to|23| Somerset Film And Video Ltd Reference and Administrative Details for the Year Ended 31 March 2025 |**TRUSTEES**|S Isherwood Arts Consultant| |---|---| ||J Mellor Consultant (resigned 23.4.24)| ||P Burr Retired| ||Miss H L Earl Artist (resigned 8.10.24)| ||Mrs A J Maclay Marketing Consultant (resigned 8.10.24)| ||Mrs K Pearce Photographer| ||D P Martlew Trustee| ||R C Franklin Trustee| ||R J Crowe Trustee| ||J Godman Trustee| ||C A Luck Trustee| ||Miss S L Brown Trustee (appointed 22.1.25)| ||Miss G M Morgan Trustee (appointed 23.1.25)| ||Mrs L Walters (appointed 27.1.25)| ||J Martin (appointed 26.2.25)| ||Miss A Watts (appointed 26.3.25)| |**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 2025 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 2025. 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: - From lower socio-economic backgrounds - With disability or long-term health conditions including mental health - From ethnically diverse backgrounds ## 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 2025 ## **ACHIEVEMENTS AND PERFORMANCE Charitable activities** The year has been busy, filled with new activities and exciting new resources. The transformation of the Engine Room, our community media centre and base for our activities, was completed and reopened to the public in May 2024. The work was made possible by Town Deal funding and additional funds from Garfield Weston Foundation, Valencia Communities Fund and the Clothworkers Foundation as well as a local charity, which wishes to remain anonymous. The building opened in time for Mayhem, a new film festival celebrating music in film, delivered in partnership with Bridgwater Arts Centre. We delivered the second year of a four year programme of activity as part of the National Portfolio of organisations receiving funding from Arts Council England. We received financial support from Somerset Council, through the Octagon outreach programme in South Somerset. Our regular programme of activity included networking & screening events, technical support sessions through our creative hub, courses, work experience week, advice and guidance plus: The Ignite programme delivered a range of activities designed to pass on digital skills to audiences and artists alike. Notable highlights include: - supporting artist Elizabeth Woodger to create new work, which was also exhibited at Artbank Shepton Mallet and projected at Chapel Cross Tea Rooms, South Cadbury; - Supporting young people in Crewkerne to create digital work in response to the Bincombe Nature reserve for a digital gallery; - Work experience week supported six young people to use Procreate to produce Instagram filters, receiving over 100,000 engagements online. Our BFI Film Academy programme once again imparted key skills to the next generation of local film making talent. Eighteen young people achieved Bronze Arts Award through a seven day programme of masterclasses and practical filmmaking. We were pleased to once again welcome back BFI alumna Lily Limmer, who now works as a sustainability consultant for companies such as Sky and Apple TV, to give guidance to the academy on sustainable filmmaking. Every Child A Filmmaker, commissioned by INTO Film, and delivered in partnership with Barnardo's provided 22 hours of filmmaking activity for young people in Hamp, Bridgwater. We celebrated diversity and engaged with a wide variety of groups through community events including cultural diversity at Bridgwater Together, Chard Together and Yeovil Together and Street CIAT Family Day for children with disabilities, exploring digital self-portraits. As part of the consortium for Seed Sedgemoor, Creative People and Places Project, we supported their work, notably through the C S John Sparkes Project final celebration event. Somerset Film also has a management role within the project. We continued to play our part in the Bridgwater Cultural Partnership, sharing best practice and delivering creative activity for events such as Twilight and Play Bridgwater. Supported by BFI Film Academy South West we were delighted to once again enable an emerging filmmaker to make an original short film. Toby Lee produced 'Expectations" which explores the pressure young people can put themselves under while taking exams. We delivered a community archive film project, supported by the National Lottery Heritage Fund. The "Village Apart, Villages Together" project involved the digitisation of films from the C. S. John Sparkes collection, 300+ Super-8mm footage of village life in and around the Polden Hills Villages. We shared the re-discovered films with the community through screenings, upskilled volunteers and participants through digitisation sessions and workshops and added to the archive through new films, photographs portraits and oral history interviews. We delivered a second edition of Wellington Film Festival, supported by Wellington Town Council and immediately began co-ordinating the third edition. Page 3 Somerset Film And Video Ltd for the Year Ended 31 March 2025 ## Report of the Trustees 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. Projects this year include films for International National Trusts Organisation, SWEDA, Ups and Downs and Click 2 Connect. A notable highlight was the Dancing The Way - Finding Flow film, which captured a unique group in Wells, run by individuals with Parkinson's and other neurological conditions. The film has been seen in Switzerland, India and Spain. We are extremely grateful to the volunteers who give their time and expertise to our Repair Cafe initiative - repairing 95+ household items for members of the public, that would otherwise end up in landfill. ## **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 £348,029 of which £231,829 related to unrestricted funds and £116,200 to restricted funds. Resources expended amounted to £365,783 of which £272,360 was from unrestricted funds and £93,423 from restricted funds. The balance held on general unrestricted funds at the end of the year was £896,122 and the balance held on designated unrestricted funds was £317,986. The balance held on restricted funds at the end of the year was £5,104. ## **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 for maintenance of the building and the renewal of equipment. 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 support from Bridgwater Town Council for The Engine Room through their venues fund. We have secured funds for a major short film, which aims to capture the spirit of Bridgwater, commissioned by the Town Deal Fund alongside the third Wellington Film Festival. We have also secured commissions for films from Decarb Somerset and training workshops from the National Trust. We will continue to build on the strength of our board through an ongoing process of trustee recruitment and training. ## **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. Page 4 Somerset Film And Video Ltd Report of the Trustees for the Year Ended 31 March 2025 ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **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: ........................................................................ P Burr - Trustee Page 5 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 2025. ## **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 3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable 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 6 Somerset Film And Video Ltd ## Statement of Financial Activities for the Year Ended 31 March 2025 |Unrestricted
funds
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
3
**148,723**
**Charitable activities**
6
Charitable
**25,278**
Other trading activities
4
**64,124**
Investment income
5
**1,233**
**Total**
**239,358**
**EXPENDITURE ON**
Raising funds
7
**18,125**
**Charitable activities**
8
Project costs
**46,802**
Employment costs
**121,836**
Establishment costs
**10,067**
Repairs and maintenance
**-**
Office expenses
**13,844**
Printing postage and stationery
**615**
Subscriptions and donations
**311**
Cleaning
**4,291**
Bank charges
**565**
Bad debts
**(91)**
Travel and subsistence
**2,648**
Advertising and promotion
**8,593**
Depreciation of tangible fixed assets
**34,682**
Accountancy
**9,572**
**Total**
**271,860**
**NET INCOME/(EXPENDITURE)**
**(32,502)**
**Transfers between funds**
17
**105,276**
**Net movement in funds**
**72,774**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**831,377**
**TOTAL FUNDS CARRIED FORWARD**
**904,151**|Restricted
funds
£
**115,517**
**683**
**-**
**-**
**116,200**
**-**
**24,509**
**20,590**
**9,466**
**34,868**
**1,798**
**82**
**78**
**1,038**
**82**
**-**
**87**
**-**
**-**
**1,325**
**93,923**
**22,277**
**(105,276)**
**(82,999)**
**87,603**
**4,604**|**31.3.25**
**Total**
**funds**
**£**
**264,240**
**25,961**
**64,124**
**1,233**
**355,558**
**18,125**
**71,311**
**142,426**
**19,533**
**34,868**
**15,642**
**697**
**389**
**5,329**
**647**
**(91)**
**2,735**
**8,593**
**34,682**
**10,897**
**365,783**
**(10,225)**
**-**
**(10,225)**
**918,980**
**908,755**|31.3.24
Total
funds
£
503,301
15,264
39,982
2,053
560,600
18,900
55,855
126,059
18,904
-
5,093
808
557
4,852
726
167
2,141
7,646
34,921
11,617
288,246
272,354
-
272,354
646,626
918,980| |---|---|---|---| ## **CONTINUING OPERATIONS** All income and expenditure has arisen from continuing activities. The notes form part of these financial statements Page 7 Somerset Film And Video Ltd ## Balance Sheet ## 31 March 2025 |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
£
**824,110**
**29,131**
**72,601**
**101,732**
**(21,691)**
**80,041**
**904,151**
**904,151**|Restricted
funds
£
**-**
**-**
**4,604**
**4,604**
**-**
**4,604**
**4,604**
**4,604**|**31.3.25**
**Total**
**funds**
**£**
**824,110**
**29,131**
**77,205**
**106,336**
**(21,691)**
**84,645**
**908,755**
**908,755**
**904,151**
**4,604**
**908,755**|31.3.24
Total
funds
£
751,187
9,408
183,847
193,255
(25,462)
167,793
918,980
918,980
831,377
87,603
918,980| |---|---|---|---|---| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025. The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for - (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and - (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. 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 8 Somerset Film And Video Ltd Notes to the Financial Statements for the Year Ended 31 March 2025 ## **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 exemption in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland': - the requirements of Section 7 Statement of Cash Flows. ## **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 9 Somerset Film And Video Ltd Notes to the Financial Statements - continued for the Year Ended 31 March 2025 ## **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 10 Somerset Film And Video Ltd Notes to the Financial Statements - continued for the Year Ended 31 March 2025 ## **3. DONATIONS AND LEGACIES** |Donations from individuals and organisations
Project grants
Grants received, included in the above, are as follows:
Arts Council - Ignite Somerset
Womad
Watershed BFI Film Club
Wellington Film Festival
BFI Film Academy
Clothworkers
Sedgmoor Creative People and Places
Bridgwater Town Council - repair cafe
Bridgwater Town Council - Quayside
South Somerset DC
Mendip District Council
Town Deal Fund
CIAT
Valencia Community
Garfield Weston
National Heritage
Harptree Trust
Animating the Town
Rory Pilgrim Project
South Somerset District Council
Moment on Mendip
Earth in Focus
Taunton Town Council
BFI Mayhem Film Festival
Dance for Parkinsons
People Dancing
SEED Villages Apart
Other grants|**31.3.25**
**£**
**3,604**
**260,636**
**264,240**
**31.3.25**
**£**
**89,062**
**-**
**1,000**
**-**
**20,409**
**-**
**39,923**
**-**
**1,110**
**-**
**-**
**75,550**
**-**
**-**
**-**
**15,058**
**-**
**-**
**-**
**6,500**
**-**
**-**
**2,495**
**2,000**
**529**
**3,500**
**3,500**
**-**
**260,636**|31.3.24
£
1,975
501,326
503,301
31.3.24
£
89,062
625
-
4,000
20,222
10,000
36,772
900
3,106
2,500
5,000
256,000
520
22,582
15,000
18,822
500
8,500
1,254
-
962
5,000
-
-
-
-
-
(1)
501,326| |---|---|---| continued... Page 11 Somerset Film And Video Ltd Notes to the Financial Statements - continued for the Year Ended 31 March 2025 |**4.**|**OTHER TRADING ACTIVITIES**|**OTHER TRADING ACTIVITIES**||| |---|---|---|---|---| ||||**31.3.25**|31.3.24| ||||**£**|£| ||Cafe income||**11,622**|7,552| ||Commissions||**52,502**|32,430| ||||**64,124**|39,982| |**5.**|**INVESTMENT INCOME**|||| ||Deposit account interest||**31.3.25**
**£**
**1,233**|31.3.24
£
2,053| |**6.**|**INCOME FROM CHARITABLE ACTIVITIES**|||| |||Activity|**31.3.25**
**£**|31.3.24
£| ||Equipment and facility hire|Charitable|**11,596**|8,505| ||Course and workshops|Charitable|**11,230**|4,977| ||Other income|Charitable|**1,621**|963| ||Services|Charitable|**1,514**|819| ||||**25,961**|15,264| |**7.**|**RAISING FUNDS**|||| ||**Other trading activities**|||| ||Purchases||**31.3.25**
**£**
**5,850**|31.3.24
£
3,321| ||Staff costs||**12,275**|15,579| ||||**18,125**|18,900| |||||| Costs of trading activities relate to the Engine Room café. continued... Page 12 Somerset Film And Video Ltd ## Notes to the Financial Statements - continued ## for the Year Ended 31 March 2025 ## **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
£
**71,311**
**142,426**
**19,533**
**34,868**
**15,642**
**697**
**389**
**5,329**
**647**
**(91)**
**-**
**-**
**-**
**-**
**290,751**|Support
costs (see
note 9)
£
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**2,735**
**8,593**
**34,682**
**10,897**
**56,907**|Totals
£
**71,311**
**142,426**
**19,533**
**34,868**
**15,642**
**697**
**389**
**5,329**
**647**
**(91)**
**2,735**
**8,593**
**34,682**
**10,897**
**347,658**| |---|---|---|---| £254,235 (2024 - £222,359) of the above expenditure was attributable to unrestricted funds and £93,423 (2024 - £30,966) to restricted funds. ## **9. SUPPORT COSTS** |Travel and subsistence
Advertising and promotion
Depreciation of tangible fixed assets
Accountancy|Governance
costs
£
**2,735**
**8,593**
**34,682**
**10,897**| |---|---| ||**56,907**| Support costs, included in the above, are as follows: |Travel and subsistence|Travel
and
subsistence
£
**2,735**|Advertising
and
promotion
£
**-**|Depreciation
of
tangible
fixed
assets
£
**-**| |---|---|---|---| |Advertising and promotion|**-**|**8,593**|**-**| |Accountancy|**-**|**-**|**-**| |Sundries|**-**|**-**|**-**| |Depreciation of tangible fixed assets|**-**|**-**|**34,682**| ||**2,735**|**8,593**|**34,682**| continued... Page 13 Somerset Film And Video Ltd ## Notes to the Financial Statements - continued ## for the Year Ended 31 March 2025 ## **9. SUPPORT COSTS - continued** |**9.**|**SUPPORT COSTS - continued**||||| |---|---|---|---|---|---| |||||**31.3.25**|31.3.24| |||||Total|Total| |||Accountancy||activities|activities| |||£||**£**|£| ||Travel and subsistence||**-**|**2,735**|**2,141**| ||Advertising and promotion||**-**|**8,593**|**7,646**| ||Accountancy|**7,754**||**7,754**|**11,617**| ||Sundries|**3,143**||**3,143**|**-**| ||Depreciation of tangible fixed assets||**-**|**34,682**|**34,921**| |||**10,897**||**56,907**|**56,325**| |**10.**|**NET INCOME/(EXPENDITURE)**||||| ||Net income/(expenditure) is stated after charging/(crediting):||||| ||Depreciation - owned assets|||**31.3.25**
**£**
**34,682**|31.3.24
£
34,921| ## **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 2025 nor for the year ended 31 March 2024. ## **12. STAFF COSTS** |**31.3.25**

**£**
Wages and salaries
**11,800**
Social security costs
**371**
Other pension costs
**104**
**12,275**
The average monthly number of employees during the year was as follows:
**31.3.25**

Trading activities
**2**
Charitable activities
**7**
**9**|31.3.24
£
14,557
805
217
15,579
31.3.24
2
7
9| |---|---| 6 (2024 - 6) 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 £28,552 (2024 - £27,192). continued... Page 14 Somerset Film And Video Ltd Notes to the Financial Statements - continued for the Year Ended 31 March 2025 ## **13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** |Unrestricted
funds
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
154,541
**Charitable activities**
Charitable
14,789
Other trading activities
39,982
Investment income
2,053
**Total**
211,365
**EXPENDITURE ON**
Raising funds
18,900
**Charitable activities**
Project costs
42,945
Employment costs
113,749
Establishment costs
16,505
Office expenses
4,310
Printing postage and stationery
536
Subscriptions and donations
557
Cleaning
4,014
Bank charges
635
Bad debts
167
Travel and subsistence
1,698
Advertising and promotion
7,646
Depreciation of tangible fixed assets
34,921
Accountancy
10,695
**Total**
257,278
**NET INCOME/(EXPENDITURE)**
(45,913)
**Transfers between funds**
402,476
**Net movement in funds**
356,563
**RECONCILIATION OF FUNDS**
Total funds brought forward
474,814
**TOTAL FUNDS CARRIED FORWARD**
831,377|Restricted
funds
£
348,760
475
-
-
349,235
-
12,910
12,310
2,399
783
272
-
838
91
-
443
-
-
922
30,968
318,267
(402,476)
(84,209)
171,812
87,603|Total
funds
£
503,301
15,264
39,982
2,053
560,600
18,900
55,855
126,059
18,904
5,093
808
557
4,852
726
167
2,141
7,646
34,921
11,617
288,246
272,354
-
272,354
646,626
918,980| |---|---|---| continued... Page 15 Somerset Film And Video Ltd ## Notes to the Financial Statements - continued ## for the Year Ended 31 March 2025 ## **14. TANGIBLE FIXED ASSETS** |**COST**
At 1 April 2024
Additions
At 31 March 2025
**DEPRECIATION**
At 1 April 2024
Charge for year
At 31 March 2025
**NET BOOK VALUE**
At 31 March 2025
At 31 March 2024|Freehold
property
£
**806,086**
**98,213**
**904,299**
**144,847**
**3,535**
**148,382**
**755,917**
661,239|Plant and
machinery
£
**44,364**
**-**
**44,364**
**17,837**
**3,369**
**21,206**
**23,158**
26,527|Fixtures
and
fittings
£
**64,495**
**8,304**
**72,799**
**37,173**
**6,401**
**43,574**
**29,225**
27,322|Computer
equipment
Totals
£
£
**298,463**
**1,213,408**
**1,088**
**107,605**
**299,551**
**1,321,013**
**262,364**
**462,221**
**21,377**
**34,682**
**283,741**
**496,903**
**15,810**
**824,110**
36,099
751,187| |---|---|---|---|---| Included within the net book value of land and buildings above is £Nil (2024 - £Nil) in respect of freehold land and buildings and £317,986 (2024 - £321,525) in respect of long leasehold improvements. ## **15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |Trade debtors
Prepayments|**31.3.25**
31.3.24
**£**
£
**20,074**
7,729
**9,057**
1,679| |---|---| ||**29,131**
9,408| |**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
VAT
Other creditors
Accrued expenses
Deferred income|**31.3.25**
31.3.24
**£**
£
**16,518**
16,982
**1,623**
996
**-**
410
**3,550**
3,750
**-**
3,324| ||**21,691**
25,462| ## **16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** continued... Page 16 Somerset Film And Video Ltd ## Notes to the Financial Statements - continued for the Year Ended 31 March 2025 ## **17. MOVEMENT IN FUNDS** |**Unrestricted funds**
General fund
Property Assets Fund
**Restricted funds**
Homes in Sedgemoor Capital Fund
BFI Film Academy Fund
BFI Film Club
Kickstarter
Town Deal
National Heritage
Harptree Trust
Earth in Focus
**TOTAL FUNDS**
Net movement in funds, included in the above are a
**Unrestricted funds**
General fund
Property Assets Fund
**Restricted funds**
Homes in Sedgemoor Capital Fund
BFI Film Academy Fund
BFI Film Club
Town Deal
National Heritage
Harptree Trust
Earth in Focus
Villages Apart
**TOTAL FUNDS**|At 1.4.24
£
**509,856**
**321,521**
**831,377**
**313**
**151**
**-**
**190**
**70,810**
**12,639**
**500**
**3,000**
**87,603**
**918,980**
s follows:|Net
movement
in funds
£
**(28,967)**
**(3,535)**
**(32,502)**
**(313)**
**(151)**
**260**
**-**
**34,466**
**(9,035)**
**(500)**
**(2,450)**
**22,277**
**(10,225)**
Incoming
resources
£
**239,358**
**-**
**239,358**
**-**
**20,884**
**1,000**
**75,550**
**15,266**
**-**
**-**
**3,500**
**116,200**
**355,558**|Transfers
between
At
funds
31.3.25
£
£
**105,276**
**586,165**
**-**
**317,986**
**105,276**
**904,151**
**-**
**-**
**-**
**-**
**-**
**260**
**-**
**190**
**(105,276)**
**-**
**-**
**3,604**
**-**
**-**
**-**
**550**
**(105,276)**
**4,604**
**-**
**908,755**
Resources
Movement
expended
in funds
£
£
**(268,325)**
**(28,967)**
**(3,535)**
**(3,535)**
**(271,860)**
**(32,502)**
**(313)**
**(313)**
**(21,035)**
**(151)**
**(740)**
**260**
**(41,084)**
**34,466**
**(24,301)**
**(9,035)**
**(500)**
**(500)**
**(2,450)**
**(2,450)**
**(3,500)**
**-**
**(93,923)**
**22,277**
**(365,783)**
**(10,225)**| |---|---|---|---| continued... Page 17 Somerset Film And Video Ltd Notes to the Financial Statements - continued for the Year Ended 31 March 2025 ## **17. MOVEMENT IN FUNDS - continued** ## **Comparatives for movement in funds** |Net
movement
At 1.4.23
in funds
£
£
**Unrestricted funds**
General fund
149,758
(42,378)
Property Assets Fund
325,056
(3,535)
474,814
(45,913)
**Restricted funds**
Homes in Sedgemoor Capital Fund
313
-
BFI Film Academy Fund
912
(761)
Clothworkers Foundation
172
(172)
Kickstarter
190
-
Wellington Film Festival
2
-
Town Deal
170,223
303,063
National Heritage
-
12,639
Harptree Trust
-
500
Earth in Focus
-
2,998
171,812
318,267
**TOTAL FUNDS**
646,626
272,354
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
211,365
Property Assets Fund
-
211,365
**Restricted funds**
BFI Film Academy Fund
20,697
Clothworkers Foundation
-
Womad
625
Town Deal
303,581
National Heritage
18,832
Harptree Trust
500
Earth in Focus
5,000
349,235
**TOTAL FUNDS**
560,600|Transfers
between
At
funds
31.3.24
£
£
402,476
509,856
-
321,521
402,476
831,377
-
313
-
151
-
-
-
190
(2)
-
(402,476)
70,810
-
12,639
-
500
2
3,000
(402,476)
87,603
-
918,980
Resources
Movement
expended
in funds
£
£
(253,743)
(42,378)
(3,535)
(3,535)
(257,278)
(45,913)
(21,458)
(761)
(172)
(172)
(625)
-
(518)
303,063
(6,193)
12,639
-
500
(2,002)
2,998
(30,968)
318,267
(288,246)
272,354| |---|---| continued... Page 18 Somerset Film And Video Ltd Notes to the Financial Statements - continued for the Year Ended 31 March 2025 ## **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
BFI Film Club
Kickstarter
Wellington Film Festival
Town Deal
National Heritage
Earth in Focus
**TOTAL FUNDS**|At 1.4.23
£
149,758
325,056
474,814
313
912
172
-
190
2
170,223
-
-
171,812
646,626|Net
movement
in funds
£
(71,345)
(7,070)
(78,415)
(313)
(912)
(172)
260
-
-
337,529
3,604
548
340,544
262,129|Transfers
between
funds
£
507,752
-
507,752
-
-
-
-
-
(2)
(507,752)
-
2
(507,752)
-|At
31.3.25
£
586,165
317,986
904,151
-
-
-
260
190
-
-
3,604
550
4,604
908,755| |---|---|---|---|---| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
Property Assets Fund
**Restricted funds**
Homes in Sedgemoor Capital Fund
BFI Film Academy Fund
Clothworkers Foundation
BFI Film Club
Womad
Town Deal
National Heritage
Harptree Trust
Earth in Focus
Villages Apart
**TOTAL FUNDS**|Incoming
resources
£
450,723
-
450,723
-
41,581
-
1,000
625
379,131
34,098
500
5,000
3,500
465,435
916,158|Resources
Movemen
expended
in funds
£
£
(522,068)
(71,345)
(7,070)
(7,070)
(529,138)
(78,415)
(313)
(313)
(42,493)
(912)
(172)
(172)
(740)
260
(625)
-
(41,602)
337,529
(30,494)
3,604
(500)
-
(4,452)
548
(3,500)
-
(124,891)
340,544
(654,029)
262,129| |---|---|---| The funds of the charity include the following unrestricted funds: continued... Page 19 Somerset Film And Video Ltd Notes to the Financial Statements - continued for the Year Ended 31 March 2025 ## **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 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. ## 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. continued... Page 20 Somerset Film And Video Ltd Notes to the Financial Statements - continued for the Year Ended 31 March 2025 ## **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 £2,278 (2024 - £2,358). ## **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. Page 21 Somerset Film And Video Ltd Detailed Statement of Financial Activities for the Year Ended 31 March 2025 |Detailed Statement of Financial Activities
for the Year Ended 31 March 2025||| |---|---|---| ||31.3.25|31.3.24| ||£|£| |**INCOME AND ENDOWMENTS**||| |**Donations and legacies**||| |Donations from individuals and organisations|**3,604**|1,975| |Project grants|**260,636**|501,326| |**Other trading activities**|**264,240**|503,301| |Cafe income|**11,622**|7,552| |Commissions|**52,502**|32,430| |**Investment income**|**64,124**|39,982| |Deposit account interest|**1,233**|2,053| |**Charitable activities**||| |Equipment and facility hire|**11,596**|8,505| |Course and workshops|**11,230**|4,977| |Other income|**1,621**|963| |Services|**1,514**|819| ||**25,961**|15,264| |**Total incoming resources**|**355,558**|560,600| |**EXPENDITURE**||| |**Other trading activities**||| |Cafe expenses|**5,850**|3,321| |Wages|**11,800**|14,557| |Social security|**371**|805| |Pensions|**104**|217| |**Charitable activities**|**18,125**|18,900| |Project costs|**71,311**|55,855| |Employment costs|**142,426**|126,059| |Establishment costs|**25,297**|18,904| |Repairs and maintenance|**34,868**|-| |Office expenses|**9,878**|5,093| |Printing, post and stationery|**697**|808| |Subscriptions|**389**|557| |Cleaning|**5,329**|4,852| |Bank charges|**647**|726| |Bad debts|**(91)**|167| ||**290,751**|213,021| This page does not form part of the statutory financial statements Page 22 Somerset Film And Video Ltd ## Detailed Statement of Financial Activities for the Year Ended 31 March 2025 |Detailed Statement of Financial Activities
for the Year Ended 31 March 2025||| |---|---|---| ||31.3.25|31.3.24| ||£|£| |**Support costs**||| |**Governance costs**||| |Travel and subsistence|**2,735**|2,141| |Advertising and promotion|**8,593**|7,646| |Accountancy|**7,754**|11,617| |Sundries|**3,143**|-| |Fixtures and fittings|**34,682**|34,921| ||**56,907**|56,325| |Total resources expended|**365,783**|288,246| |**Net (expenditure)/income**|**(10,225)**|272,354| |||| This page does not form part of the statutory financial statements Page 23