## **The Film and Television Charity** 

**Charity No. 1099660 Company Registration No. 4816786** 

**Trustees’ report and Group financial statements Year ended 31 March 2024** 



**THE FILM AND TELEVISION CHARITY - YEAR ENDED 31 MARCH 2024** 

|**CONTENTS**|**Page**|
|---|---|
|Contents|2|
|An introduction from the Chair|3|
|An introduction from the CEO                                                                                      4|An introduction from the CEO                                                                                      4|
|Trustees, Legal and Administrative details|6|
|Our donors and supporters|7|
|The Trustees’ Report|11|
|The Strategic Report|13|
|Financial and Corporate Governance Review                                                             30|Financial and Corporate Governance Review                                                             30|
|Review of the Group Financial Statements                                                                 31|Review of the Group Financial Statements                                                                 31|
|Statement of responsibilities of the Trustees|36|
|Independent Auditor’s report|38|
|Financial statements|41|



2 



**THE FILM AND TELEVISION CHARITY - YEAR ENDED 31 MARCH 2024** 

## **An introduction from the Chair** 

Dear beneficiaries, supporters and industry colleagues, 

It is with both concern and pride that I write to you to introduce the Film and TV Charity’s centenary annual report. 

Concern, because our beloved industry is facing huge challenges which have direct impact on our beneficiaries. The Hollywood strikes, the economic downturn and significant business model shifts in both the film and the television industry have created huge financial difficulties for film and television professionals. In our Money Matters report, published in early 2024, we found that 42% of film and TV professionals had less than £1,000 in cash savings, including 27% who had no cash savings whatsoever. 

The geo-political environment is adding to the mental load of an industry already under pressure. Our Jewish-Arab research has put into stark relief the deterioration in mental health and wellbeing among Jewish, Muslim and Arab industry workers, with 94% of respondents experienced a deterioration in their mental health since October 7th. This is in the context of an industry where only 11% described the industry as a mentally healthy place to work, according to our Looking Glass Survey conducted in 2022. 

In May of this year, our new Chief Executive Marcus Ryder, along many of our colleagues from other organisations, gave oral evidence to the DCMS Select Committee on the crisis faced by Film and Television workers. It was a sobering moment, closing a sobering year. 

And yet I am filled with pride, when I see the work that has been conducted by the Charity over the last year, and the impact it has had. 

Led by Marcus and his team, the Charity has had an incredible year of direct and indirect support to film and TV professionals. Some of our highlights included: 

- Launching a new £500,000 fund in August 2023 to support an industry in crisis during the Hollywood writers and actors strikes. The announcement of the fund at the Edinburgh TV Festival created a wave of additional support from the industry, and we thank Amazon, BBC, BBC Studios, Channel 4, ITV, Paramount, Sky and WarnerBros Discovery. 

- Following the events of 7[th] October 2023, creating a safe space for Jewish and Muslim/ Arab film and television professionals to express their concerns and discuss with key industry stakeholders. This was followed by the publication of a unique survey showing the impact of the world events on our colleagues and friends. 

- In the spring of 2024, launching Reel Impact, our new strategic programme for Black and Global Majority individuals and organisations, which has received enormous support and acclaim and is getting ready to choose its very first cohort of grant recipients. 

3 



**THE FILM AND TELEVISION CHARITY - YEAR ENDED 31 MARCH 2024** 

We have also continued to deliver our Mental Health Toolkit to productions and our support lines and financial grants have remained a first line of support for industry participants. 

Our staff has worked tirelessly to fulfil the mission of the charity, and I would like to thank them for their exceptional work. Our funders and supporters have made our work possible, and I continue to be hugely thankful for their contribution, which is more important than ever. 

Finally, I would like to thank my fellow Trustees for their commitment and engagement throughout the year. 

In this, our centenary year, we see the industry we love facing a time of crisis like never before. The work of the Charity is more crucial than ever. We couldn’t do it without all of you. 

Thank you, 

Claire Tavernier Chair 17[th] October 2024 

4 



**THE FILM AND TELEVISION CHARITY - YEAR ENDED 31 MARCH 2024** 

## **An introduction from the CEO** 

It is a tremendous privilege to write this introduction for the Film and TV Charity’s annual report as it marks the organisation’s centenary year. 

The convening power of the Charity to enable people in the industry to address issues around wellbeing has been an important aspect to the work we have done in the last year. 

The writers’ strike and actors’ strike in the US in 2023 had a devastating effect on productions and work in the UK. I am proud of how the Charity responded to those challenges, appealing to our major funders to increase their contributions to meet the elevated need for Stop Gap Grants due to financial hardship, as well as to the Board of Trustees who enabled us to draw on our reserves to service need throughout the industry. 

The resolution of the strikes, however, did not see a “return to normal”, as a commissioning squeeze by all the major broadcasters saw the demand on our services increase. 

As incoming CEO I walked into a team of some of the most dedicated and hardworking people I have ever had the pleasure to call my colleagues, something that has been clearly evidenced by the Service Delivery team who continue to deliver an outstanding service under considerable pressures. 

It would be fair to say that the profile of the Charity has never been higher, borne out by the massive response rate to all of our surveys and research, which is in no small part due to the work of the Marketing and Comms team, the Digital team and of course our fantastic Research and Insight Team. 

I also wanted to highlight the industry-defining work the Charity has done around the mental health of Jewish, Arab and Muslim workers in film and television following the attacks of October 7th and ongoing humanitarian crisis, as well as its role as a neutral convening space for broadcasters to discuss key issues affecting the industry. 

It was with great pride that we received the news that the patronage of the Charity has passed from the Late Queen Elizabeth II to King Charles III. We intend to build on our patronage going forward and extend our deepest gratitude to His Majesty for his recognition and continued support of our work. 

The year also saw the passing of Sir Paul Fox, a Vice-Patron of the Charity who played an essential role in the organisation’s history. All at the Charity would like to acknowledge his great work, and we send our condolences to his family and loved ones. 

The Charity did not meet its fundraising target for the year ending March 2024, due in part to the cancellation of the Royal Film Performance. This was in spite of generous donations from donors representing every part of the industry value chain, as well as additional donations from its biggest donors in response to the UK strikes. We recognise that the issues affecting our workforce are also affecting the businesses that make up this dynamic but challenged industry. We are therefore particularly grateful to all who have donated, both individuals and businesses. We remain confident about our future funding prospects, as we continue to reach and engage with more sections of the industry and prove our essentiality to its constituents. The Charity has also embarked on a thorough review of our financial model to ensure a large proportion of our income as possible goes to our beneficiaries and that we too will be able to weather these difficult financial times. 

The Charity has now adopted the clear position of addressing wellbeing issues both “downstream” and “upstream”. “Downstream” meaning helping people who find themselves in direct need of assistance, while “Upstream” sees us trying to address the root causes of mental, physical and financial issues. 

It is for this reason that in 2024/25 the Charity will be further investing our Whole Picture Toolkit to address mental health issues before they become problems in film and TV productions. It will also be awarding Reel Impact grants to address issues affecting Black and Global Majority workers, and to enable Black and Global Majority individuals and businesses to realise their potential. 

5 



**THE FILM AND TELEVISION CHARITY - YEAR ENDED 31 MARCH 2024** 

I officially took up the role of CEO at the Charity on 18th September 2023, two days after the death of the renowned Black British filmmaker, Sir Horace Ové. The Charity had a longstanding relationship with both Sir Horace Ové, himself, and his family, many of whom work in the film and TV industry. The death, while tragic, was an opportunity for me as an incoming CEO to set out what I see are the Charity's strengths and sense of direction. Placing community, mental wellbeing and diversity as central to all we do, and utilising one of our most powerful assets – our building – to hold a commemorative event bringing together the Black film community to offer each other support and strengthen networks. 

I believe the need for the Charity has never been clearer to the industry and our work has never been more important and valued. 

I look forward to the Charity continuing to play an important role in supporting the financial, physical and mental health of everyone in the film, TV and cinema sectors, and ensuring that we do this by recognising the broad range of diversity of its workers. 

Marcus Ryder Chief Executive Officer 17[th] October 2024 

6 



**THE FILM AND TELEVISION CHARITY - YEAR ENDED 31 MARCH 2024** 

## **Trustees, Legal and Administrative Details** 

**Patron** 

His Majesty the King 

## **Registered Office** 

22 Golden Square, London, W1F 9AD 

**Vice Patrons** Anne Bennett Debbie Chalet Derek Cooper Stanley Fishman CBE Sir Paul Fox CBE (passed away 08 April 2024) Lord Grade CBE Steve Jaggs Barry Jenkins OBE Ian Lewis David McCall CBE DL David Murrell Denise Parkinson Lord Puttnam CBE Jeremy Thomas CBE 

## **Principal Advisors:** 

**Bankers** 

National Westminster Bank plc 2[nd] Floor, Argyll House, 246 Regent Street, London, W1B 3PB 

## **Auditors** 

Haysmacintyre LLP 10 Queen Street Place, London, EC4R 1AG 

## **Investment Advisers** 

Rothschild & Co Wealth Management 1 King William Street, London EC4N 7AR 

**Solicitors** Kingsley Napley 20 Bonhill Street, London EC2A 4DN 

## **Trustees who served during the year** 

Claire Tavernier (appointed 28 September 2023)[x] * Andrew Wilson-Mouasher † ‡ (Interim from Chair 30 June 2022 to 28 September 2023, resigned) Cameron Saunders † Joseph Adesunloye * Catherine Bosworth ‡ Robin Chalmers †[x] Peter Clark ‡ Juliet Gilkes Romero * Suki Gill ‡ Kirsty Good * Emma Hoyle † Sara Putt[x] Deborah Rozansky * (retired 8 Feb 2024) 

† Member of the People and Culture Committee 

‡ Member of the Finance Committee 

* Member of the Inclusivity Committee x Member of the Risk, Safeguarding and Governance Committee 

## **Senior Management Team** 

Marcus Ryder _Chief Executive Officer (appointed 18 September 2023)_ Alex Pumfrey _Chief Executive Officer (resigned 02 June 2023)_ Louise Benson _Director of Development_ Rachel Hillman _Director of Impact and Innovation_ Alan de Sousa Caires _Director of Finance & Operations, and Company Secretary_ 

7 



THE FILM AND TELEVISION CHARITY- YEAR ENDED 31 MARCH 2024
With thanks to all our donors
Principal Partners
STUDIOS
WARNER BROS.
DISCOVERY
wr Studios Motlon Pictures
MajorPartners
frcineworld
i M E 11 A S
IndustryPartners
tv+
SONY
PICTURES

THE FILM AND TELEVISION CHARITY- YEAR ENDED 31 MARCH 2024
IndustryFrlends
6ft1.."f) rrithe
FILMS
•pO￿l￿t
60
AAADMAII
Braintrus
CLASSIC
PROP HIRV. C.OMPANY
DANCIIE IEUGE
DMS
Firebird
IMDb.
LOOKOUT
POINT
HAT TRICK
PRI)t)lJ('Tll)NS
MERMAN
1400NAGE
PICTUPES

THE FILM AND TELEVISION CHARITY- YEAR ENDED 31 MARCH 2024
Industry Friends
OBJECTIVE
MEDIA
GROUP
ON C E
U P O N
optomen
T I kl E
PERFORMANCE raw
FILM & MEDIA INSURANCE
RED
PLANET
5+0
searchlight
Iiaw
TL
SISTER
STUDI(XANAL
AC414Ai* CQMPANV
TWO CITIES
TWL)FlIUR
WOODC
MEDIA
io

**THE FILM AND TELEVISION CHARITY - YEAR ENDED 31 MARCH 2024** 

## **The Trustees’ Report (incorporating the Directors’ Report) for the year ended 31 March 2024** 

## **Introduction** 

The Trustees present the Trustees’ Report, including the Strategic Report, together with the consolidated audited financial statements of the Charity and its subsidiary companies for the year ended 31 March 2024. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Articles of Association and Accounting and Reporting by Charities Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102). 

## **Objectives of the charity** 

We are the leading UK charity for people working behind the scenes in the film, cinema and commercial television industries.  We exist to provide relief to those in need by reason of youth, age, ill health, disability, financial hardship or other disadvantage; to prevent or relieve poverty; to promote physical, mental and social wellbeing; and to promote equality, diversity and inclusion for the public benefit by reducing, preventing and discouraging discrimination and the resulting barriers in the film, television or moving image industry in the British Isles (excluding the Republic of Ireland) and in wider society. 

The Charity revised its charitable objectives on 15 April 2020 to enable us to better serve individuals at all stages of their career; and to add focus on the promotion of physical, mental and social wellbeing, and the promotion of diversity, equality and inclusion, and again on 28 September 2023 allow freelancers trustees to be remunerated and trustees to be able to draw on support from Charity’s services. 

## **Public Benefit** 

The Trustees have due regard to the Charity Commission’s general guidance on public benefit and the specific guidance on the prevention or relief of poverty for public benefit when determining the eligibility of applicants and the amount of support given. 

## **Structure, governance and management of the charity** 

## **Trustees** 

The Board of Trustees act in accordance with formal terms of reference for the governance of the Board and are required to meet quarterly. The Board are responsible for strategy and oversight of the work of the committees and the Charity’s management. 

Trustees serve for a period of three years and at the conclusion of each three-year term trustees may be re-elected by the Board at the annual retirement meeting unless they have previously served three terms. 

The Board of Trustees is led by Chair, Claire Tavernier, who joined the Charity on 28 September 2023 following a period where the Interim Chair position was held from 30 June 2022 to 28 September 2023 by Andrew Wilson-Mouasher, and previously from 24 March 2022 to 30 June 2022 by Cameron Saunders. 

There were four new Trustees that joined the Board on 26 January 2023 following a recruitment process Catherine Bosworth, Robin Chalmers, Peter Clark, Emma Hoyle. The new Trustees bring expertise in fundraising, legal, finance and HR respectively. Melanie Tansey resigned 9 June 2022. 

All Trustees undergo an in-house induction into the charity, including meeting the management team and staff to enable them to fulfil their duties and obligations as Trustees and Directors. 

11 



**THE FILM AND TELEVISION CHARITY - YEAR ENDED 31 MARCH 2024** 

## **Committee Structure** 

Detailed terms of reference for the Board of Trustees and the committees are approved by the Board. Committees act as a liaison between the Board and the management team and report back to the Board at quarterly Trustee meetings. To enable the Charity to draw on the widest pool of expertise, committees may co-opt specialist advisors. 

The Charity operated four committees during the year: 

**The Finance Committee:** Chaired by Suki Gill the committee is responsible for reviewing the annual budgets, monthly management accounts and cashflows, the annual financial statements, taxation and internal controls. The committee meets at least four times a year. Trustee members are Catherine Bosworth and Peter Clark. 

The Charity’s investment advisors, Rothschild’s Investment Management, attend committee meetings in Spring and Autumn each year to report on the performance of the investment portfolio. There is a meeting with the advisors ahead of the other two Finance Committee meetings each year. 

The Charity’s auditors, attend two meetings each year. 

**People and Culture Committee** : (Formerly called the Appointments and Remuneration Committee) Chaired by Emma Hoyle the committee assists the Board in (1) the appointment of new Trustees, and (2) in ensuring that the Executive team retain an appropriate structure, size and balance of skills to support the strategic objectives and values of the Charity. The committee meets at least once a year. Trustee members are Cameron Saunders and Robin Chalmers. 

**Inclusivity Committee** : Co-Chaired by Juliet Gilkes Romeo and Jospeh Adesunloye, the committee assists the Board in developing the Charity’s equity and inclusion work, in particular to meet the Charity’s fourth object to _“Promote equality, diversity and inclusion by reducing, preventing and discouraging discrimination and the resulting barriers in the industry”._ 

The committee meets at least once a year. Trustee members are Kirsty Good and Deborah Rozansky (resigned 8 Feb 2024). 

**Risk, Safeguarding and Governance Committee** : Chaired (interim) by Claire Tavernier the committee assists the Board in (1) in advising of the risk management procedures, (2) safeguarding procedures and concerns (3) reviewing the governance of the Charity. The committee also provide a forum for the Chief Executive and the Executive Team to discuss issues relating to risk, safeguarding and governance. The committee meets at least once a year. Trustee members are Robin Chalmers and Sara Putt. 

## **Key Management Personnel** 

The key management personnel are the senior management team and the Trustees, as listed on page 8. The CEO’s remuneration package is set by the People & Culture Committee. 

## **Disclosure of information to the Auditor** 

The Trustees who held office at the date of this Trustee’s report confirm that there is no relevant audit information of which the company’s auditor is unaware. Each Trustee has taken the necessary steps to ensure they are aware of any relevant audit information and to establish that the company’s auditor is aware of that information. 

12 



**THE FILM AND TELEVISION CHARITY - YEAR ENDED 31 MARCH 2024** 

## **The Strategic Report** 

## **Introduction** 

The Film and TV Charity faced one of the most important years in its history in 2023/24. While it welcomed its incoming CEO, Marcus Ryder MBE, and prepared to celebrate its 100[th] anniversary in 2024, it also provided a lifeline for hundreds affected by world events, both from within and outside of the industry. During this demanding year, it ran its first ever financial resilience survey, and prepared to launch Reel Impact, its £1m fund for Black and Global Majority individuals and organisations. It also did a first-of-its-kind survey of the mental health of Arab, Muslim and Jewish people in the industry following the events of 7[th] October 2023 and used its results to advocate for positive change with the industry’s most important leaders. The Charity’s Whole Picture Toolkit for Mentally Healthy Productions went from strength to strength, while more and more people engaged with its frontline services. 

13 



**THE FILM AND TELEVISION CHARITY - YEAR ENDED 31 MARCH 2024** 

## **Industry context** 

UK Film and TV faced a perfect storm of economic challenges in financial year 2023/24, that translated into financial hardship for many, particularly those in freelance roles. The rising costs of production, driven by inflation partly linked to Russia’s war with Ukraine, already meant that production companies were under financial pressure. This met with the freezing of the BBC licence fee, and significant decreases in advertising revenues across the UK’s commercial broadcasters, resulting in a television commissioning slowdown across all genres. The issue was compounded by the fact that the previous year’s post-Covid boom resulted in a subsequent pulling back of commissioning across the industry. 

The Charity launched an industry-wide survey in April 2023, with a follow up in October, to better understand levels of financial resilience amongst workers, and uncovered worryingly low levels, particularly for freelancers working in increasingly unpredictable circumstances. 

Meanwhile the announcement of the Writers Guild of America’s strike in May, followed by the SAG-AFTRA strike in July, meant that between May and November 2023, millions of pounds worth of production planned to take place in the UK was immediately halted. 

The news of Empire Cinemas going into administration in July surprised few and demonstrated what a torrid period this was for the whole value chain. 

The impact on the industry was profound, and resulted in levels of grant applications to the Charity that hadn’t been experienced since Covid.  The industry’s biggest employers reacted quickly to top up their funding levels to the Charity, but unfortunately the Royal Film Performance was cancelled due to the strikes, meaning that expected income from this event did not materialise. 

Then, on October 7th, 2023, the Hamas attacks on Israel, the subsequent conflict in Gaza, and the unfolding humanitarian crisis that followed, sparked concern for Jewish, Arab and Muslim industry workers whose mental health was affected. Following reports from people working in the media, often at the centre of how contentious issues are covered or communities portrayed, the Charity ran an urgent survey amongst these communities.  It uncovered severe deterioration of mental health and wellbeing across the board. 

The Charity worked closely with two stakeholder groups, comprising Arab and Muslim and Jewish industry representatives. It empowered these two groups to review and analyse both the survey results and their own experiences in order to devise a set of industry asks. In February, the Charity then facilitated a series of roundtable discussions between community stakeholders and industry leaders. 

Throughout this difficult period for the industry, the Charity provided grants, financial and legal advice, and mental health and wellbeing support to those that needed it from across the industry. It also took users of its Whole Picture Toolkit for Mentally Healthy Productions to over 200 productions and championed the needs of the workforce on platforms and in publications up and down the country. 

14 



**THE FILM AND TELEVISION CHARITY - YEAR ENDED 31 MARCH 2024** 

## **Delivery Against Objectives** 

**People Supported: 2023/24 KPI – to support 11,000 people in our industry** 

## **Support Services** 

## Clients Supported 

In total, the Charity supported 12,480 clients, exceeding its target of 11,000. Feedback from Tier 3 (most intensive support) clients gave a 99% client satisfaction rate with an average of 96% of people reporting that their mental, financial, or social wellbeing had been increased as a result of our support. 

15 



**THE FILM AND TELEVISION CHARITY - YEAR ENDED 31 MARCH 2024** 

## **Pillar 1 – Mental Wellbeing** 

Over 10,000 people engaged, with feedback from 1-2-1 clients showing that 98% reported an increase in mental wellbeing and 99% are satisfied with our support 

83 people accessed bullying and harassment advice and support from our in-house counsellor. Our 1-2-1 services helped people navigate situations more effectively, with clients feeding back that they felt more confident about tackling issues and that conversations with our counsellors made them feel more in control and able to proactively deal with problems or issues before they escalate. 

900 people participated in bullying support and mental wellbeing workshops and events including bespoke events with the BBC, Banijay, Screen Yorkshire, Bectu, Talent Manager and Film Base. 

400 people accessed emotional support and in-the-moment counselling and guidance through our Support Line. The implementation of a new Support Line contract provided the Charity with a broader range of mental wellbeing support and greater clinical evidence of the impact of its counselling offer. 

We also developed high quality digital content on bullying, harassment and discrimination as well as wider wellbeing support, that saw over 10,000 users. 

_“The benefit of speaking to an experienced TV professional with counselling experience who was not directly connected to colleagues was invaluable.”_ 

_“I really want to thank Justine Walton for her advice and support. She has stood by my side, helping to build up my confidence to speak up and guiding me to realise the bigger picture for next steps."_ 

## **Pillar 2 - Financial wellbeing** 

Over 3,000 people engaged, with feedback from 1-2-1 clients showing that 98% reported an increase in financial wellbeing and 99% are satisfied with our support. £913K was given out in grants, exceeding budgeted grant spend by nearly £600K. 

This year 1,953 Grants Support Packages were issued. This is a three-strand package including budgeting support, a financial grant and bespoke financial guidance. It enables clients to better understand their current financial situation, improve their immediate financial stability and plan for the future. 

1,057 people accessed and used our online financial guidance and tools. Our existing financial pages have been redesigned and new tools and information developed, increasing accessibility and ease of use. 

## _Industry strikes, commissioning slowdown and cost-of-living crisis_ 

A priority over the year was addressing the impact of industry strikes combined with a UK commissioning slow down and the cost-of living-crisis. The team was able to swiftly develop and implement an emergency financial response that included building new application processing mechanisms and support structures.  At the same time, the Board of Trustees approved up to £500K as a drawdown from the Charity’s reserves, to service the needs of the industry, and the fundraising team raised over £250K in emergency funding from its core donors. This was all achieved whilst operating under tight time constraints and with a heavy existing workload. 

16 



## **THE FILM AND TELEVISION CHARITY - YEAR ENDED 31 MARCH 2024** 

By helping people to put food on the table and enabling them to pay the rent, the impact of the Charity’s Grants Support Package has been immense. While we know this is not a longterm financial solution for people, as so many are in desperate need of immediate support to help them live right now, what we provide is a key pillar of industry support for vulnerable freelancers and workers. 

We are now developing a new financial strategy, to support better financial resilience. This will enable us to create a more sustainable business model for the Charity, whilst increasing our impact and influencing the industry to provide and support a fairer financial model for its workforce. 

_“As a lone parent, I have no help from family, I had nowhere to turn. Having been given no support from benefits due to the minimum income floor rule, I was deeply distressed as I could not see a way through.  I had no way to feed my five-year old and I still had to work despite not being able to pay childcare. This fund helped to take care of the immediate basic outgoings which in turn gave me relief and I felt more able to cope with the issue in a productive way. I am still in a tight situation, but I have felt the benefit of sleep and am making some progress to get back on our feet without letting all my work slip. I am forever grateful to the Charity - as without this support at times I would not be able to continue in this industry. Thank you!”_ 

_”Doing the budget planner was really useful actually as it helped me to see how I was overspending. We have definitely revised the way we spend money since my last job four months ago but unfortunately, even still with those cut downs, we just can't seem to cover all the bills with my husband's salary and Universal Credit. It's been a learning curve on how to be efficient with money.”_ 

17 



**THE FILM AND TELEVISION CHARITY - YEAR ENDED 31 MARCH 2024** 

## **Pillar 3 – Social wellbeing** 

Our social wellbeing offer provides tailored and individualised support to the more vulnerable and marginalised professionals that work in our industries. This support includes careers guidance, financial guidance, access to peer support, emotional support, and help to access bursaries, all enabling clients to remain in the industry. 

54 people received intensive support from our 1-2-1 advisor. This includes supporting five people to successfully obtain funding via Access to Work to a collective total amount of over £100,000, with one client receiving £40,000. Feedback from 1-2-1 clients showed that 91% reported an increase in social wellbeing and 99% are satisfied with our support. 

1,456 people accessed our online legal support. A further 635 people accessed legal advice and support through our Support Line. A priority for the new year is to build and increase the range of self-help legal resources and guidance on offer and ensure it is structured, targeted and responsive to need. 

Our profile across the industry has also increased with one of our operational partners Creative England writing   “…the Film and TV Charity; the national organisation providing mental health and financial support to freelancers. After an unprecedented year of financial hardship for the UK’s creative sector, the Charity remains an integral industry resource.” 

**CEO Marcus Ryder and Reel Impact Programme Manager Anita Herbert** 

18 



**THE FILM AND TELEVISION CHARITY - YEAR ENDED 31 MARCH 2024** 

## **Ringfencing** 

We significantly exceeded our ringfencing target for Disabled clients, at 28% against a target of 15%. We slightly underperformed on our Black and Global Majority ringfencing target at 26% against a target of 30% but the team has worked hard to make up the significant deficit resulting from the spike in demand last summer and it's important to note that this year we more than doubled the number of Black and Global Majority clients receiving grants from 2022/23. 

## Black and Global Majority Clients 

Last year the Charity awarded **£235,000** to **508** Black and Global Majority Clients. These are record figures for the ringfenced grant (see comparative graphs below). 

However, due to the sharp rise in applications last year following the actors and writers strikes we only achieved **26%** of the 30% target, being **£39,000.** 

Nearly 75% of all grants to BGM clients were stop Gap Grants, with the remainder being Sir Horace Ove grants. This reflects the greater need to address financial shortfall to cover essential bills during the strikes via the Stop Gap, rather than the opportunities covered by the Sir Horace Ove grant. 

Of the 508 grants awarded to Black and Global Majority clients, 57% of awardees were female and 28% of awardees had a disability. 

19 



**THE FILM AND TELEVISION CHARITY - YEAR ENDED 31 MARCH 2024** 

## Disabled Clients 

During the financial year, the charity awarded **£236,000** to **499** applicants. These figures equate to **28%** of all grants where disability status is known. Again, these are record figures for the ringfenced grant, and we significantly exceeded our 15% target. 

**Remembering the late Sir Horace Ové** 

20 



**THE FILM AND TELEVISION CHARITY - YEAR ENDED 31 MARCH 2024** 

## **Fundraising KPI – deliver £1.7m in 2023/24. minus £125K banked from the previous year, target was £1.575m** 

It was a challenging year for fundraising, due to the cancellation of the Royal Film Performance, as well as an overall challenging economic outlook for the sector. Total fundraising income delivered was £1.411m, including £261K for emergency grants campaign. With the £261K removed, fundraising’s shortfall was £425K.  However, there was positive growth in a number of income lines, and the year-on-year picture remains promising. 

## **Income growth year on year** 

The team delivered 29% year-on-year growth in corporate donations and 81% year-on-year in individual giving income, showing strong support in the industry for the work the Charity does. 

- **Top Tier Donors** : Raised £902K, significantly over the £694K budgeted amount, due to the Hardship Fundraising drive. 

- **Individual Giving** : Raised over £100,000 against an £80,000 target with 183 one-off donations and a net increase of 61 regular donors. 

- **Community Fundraising** : Reached £62,000 through various activities, including a valuable partnership with Cineworld. 

21 



**THE FILM AND TELEVISION CHARITY - YEAR ENDED 31 MARCH 2024** 

## **Research and Impact** 

The research team has built significant profile and influence this year, helping shape both our support and the industry conversation. Two financial resilience surveys were central to the industry response to the financial crisis caused by the strikes and production downturn. The fast-turnaround survey on the mental health and wellbeing impacts of the crisis in Gaza and Israel on Arab, Jewish and Muslim members of the industry workforce was integral to our industry roundtables and the subsequent call for a standardised industry-wide training programme. 

Our biannual Looking Glass Survey was launched in June 24, with some improvements, and is performing well in terms of respondent numbers. 

**Key studies** The _Money Matters_ report , published 30th Jan 2024, based on our second Financial Resilience survey. The report, based on over 2,000 responses, helps us begin to build a trackable picture of the financial circumstances of the industry workforce. The report was launched at a British Screen Forum roundtable on 30th Jan, with aligned coverage in key trade press publications _Broadcast_ and _Screen_ . Subsequent short blog posts on pension provision (in partnership with Client Services) and income levels among the industry workforce are forthcoming. 

Working with colleagues from Bectu, BBC and Screen Scotland, the team worked with specialist consultants Timewise to support the publication in February of **a report on the feasibility of shorter working hours on higher-end scripted TV productions.** 

The team also created a **report on the mental health and wellbeing impacts of the crisis in Gaza and** Israel on Arab, Jewish and Muslim members of the industry workforce. Using quantitative data from the 400 responses received between December 2023 and January 2024, the team worked with both advisory groups and with academic and policy experts from the Woolf Institute in Cambridge and the Institute for Jewish Policy Research. The report, which was published in May, contextualises the advisory groups’ recommendations to industry to refine the support available to affected colleagues. The survey results were also used to inform a series of five roundtables held in February with a range of senior industry stakeholders. 

The Charity developed an impact framework to measure the effectiveness of its initiatives this year. The framework includes metrics such as beneficiary satisfaction, financial support outcomes, and engagement rates. The framework will guide our future strategies and ensure that we continue to meet our objectives effectively, as well as providing opportunity to share impact data externally, in real time, an important step towards greater transparency with the industry. 

https://filmtvcharity.org.uk/assets/documents/Reports/financial-resilience-report-2024.pdf 

https://filmtvcharity.org.uk/assets/documents/Reports/results_of_a_survey_of_arab_jewish_and_muslim _members_of_the_uk_film_and_tv_workforce.pdf 

22 



**THE FILM AND TELEVISION CHARITY - YEAR ENDED 31 MARCH 2024** 

## **Strategic Programmes** 

2023/24 saw exciting progress with our two strategic programmes. 

**Reel Impact** launched in May, developed from the organisation’s previously announced Impact Partnership Programme. Reel Impact was co-designed with the support and direction of a panel of Black and Global Majority creatives and senior experts from inside and outside of the industry. The programme seeks to address the impacts of systemic racism in the industry, drive greater access to opportunities, and support and develop the careers of underrepresented talent. 

Following the successful co-design phase, the outcome is a three-strand programme that supports mid to senior level Black and Global Majority individuals and owned/led organisations.  The Programme is focused on two themes, “Access and Opportunity” and “Accountability”. 

Strand one: Grants – fund activities that provide support, resources and access. 

The initial round of grants launched in May 2024 with grants of up to £10,000 for mid-senior level individuals and grants up to £25,000 for organisations. 

Grant applicants will need to demonstrate how funds will be used to benefit Black and Global Majority projects in the UK and improve the lives of Black and Global Majority creatives. 

Strand two: Leadership and Career Development bursaries – focus on the development of partnerships that generate learnings and access to skills and leadership development, and networking that provides opportunities for growth.  Strand two will be launched later this year. 

Strand three: Scaling Reel Impact for the long-term – past the duration of the Programme 

The programme’s long-term goal is to embed and sustain anti-racist values in the film, TV and cinema industry. The intention is to recruit a consultant to support this work. 

“ _This is a significant opportunity to redress inequality and champion innovative talent. Reel Impact will be a sustainable showcase for Black and Global Majority professionals working hard to forge a legacy of creativity well into the future of UK film and TV and on a global stage.”_ 

Joseph A. Adesunloye and Juliet Gilkes Romero, Film and TV Charity trustees and Co-Chairs of its Inclusivity Committee, who also formed part of Reel Impact’s co-design panel. 

Reel Impact KPIs have been developed and will feature in the 2024/25 Annual Report. 

23 



**THE FILM AND TELEVISION CHARITY - YEAR ENDED 31 MARCH 2024** 

## **The Whole Picture Toolkit** 

The Whole Picture Toolkit, designed to support production leaders to implement simple actions to create more mentally healthy production environments, has made significant progress this year. Below are key performance indicators (KPIs) and accomplishments: 

- **Website Engagement** : 

   - **Visitors** : 11,055 people visited the Toolkit website. 

   - **Page Views** : 54,635 page views were recorded. 

   - **Direct Engagement** : 2,540 people were reached through meetings, events, and demos. 

- 

   - **Production Implementation** : 

      - **Productions Using Toolkit** : 184 productions have implemented the Toolkit, with 125 new implementations this year. 

      - **Broadcaster/Streamer/Studio Pilot** : Six major broadcasters, streamers, or studios piloted the Toolkit across various genres. 

      - **Working with 47 production companies** : up from 11 in 2022 

- 

- **Development and Improvement** : 

   - **User Experience Improvements** : Responded to industry feedback with UX and UI improvements, set to go live mid to late September. 

   - **Toolkit 2.0** : Scoping and developing the next iteration of the Toolkit to include a dynamic Mental Health Risk Assessment and broader production support. 

2024 and beyond will see the move to “Toolkit 2.0”, which will be part of a wider Mentally Healthy Productions strategy, with board investment, that we believe has the power to transform the culture of UK production. The team will be embarking on a pan-industry stakeholder engagement process from Sept 24 for a six month period with the aim of securing buy-in to a minimum set of standards to ensure mental health best practice across UK film and TV production. 

24 



THE FILM AND TELEVISION CHARITY- YEAR ENDED 31 MARCH 2024
FILM+TV
CHARITY
THE
WHOLE PICTURE
TOOLKIT
Want to
your pro
mentally
place to
ork
We can hel
er
25

**THE FILM AND TELEVISION CHARITY - YEAR ENDED 31 MARCH 2024** 

## **Digital Transformation** 

In 2023/24 the Charity embarked on a significant project to become a “digital-first organisation”, beginning with the launch of a new website, followed by overhaul of many aspects of its digital work. The digital transformation work is ongoing, and will continue well into 2025. 

In 2024 the Charity launched its new website with hugely improved user experience and higher engagement rates.  Every member of staff played a vital role in ensuring its success. 

- **Website Traffic** : Achieved a 93% increase in organic search traffic and a 24% increase in returning users compared to the previous website. 

- **Newsletter Sign-Ups** : Over 300% increase in newsletter sign-ups via the website. `o` **Toolkit Engagement** : Number of people visiting the Toolkit website was 11,055, with 4,303 visitors from October to March 2024. 

## **Other items of note** 

## **Executive Leadership change** 

In January 2023 Alex Pumfrey announced that she would be stepping down as CEO of the Film and TV Charity in June, after more than six years at the helm. Her legacy will be long lasting. Alex’s vision of transforming the wellbeing of everyone working in the industry included the launch of the Looking Glass Survey in 2019, the setting up of the Support Line and Bullying Advice Service in 2021, and the creation of the Whole Picture Programme in 2019. This £2.5m programme focused industry leaders and stakeholders on practical ways to improve the industry’s mental health, and outputs included the Whole Picture Toolkit amongst other products and services. She also stewarded the Charity through Covid-19 and oversaw the distribution of over £7m in grants to industry workers across an 18-month period. This was the largest amount and volume ever in the Charity’s history, by some margin. 

In Summer 2023 it was announced that the new CEO would be Marcus Ryder MBE, coming from his role as Head of External Affairs at The Sir Lenny Henry Centre for Media Diversity. Marcus brings a wealth of experience and an impressive reputation as a diversity campaigner, including as writer of _The Diversity Manifesto_ (along with Sir Lenny Henry), and editor of _Black British Lives Matter_ . He has also had a long and successful career in factual and current affairs broadcasting, including at the BBC and in both China and Malaysia. Marcus hit the ground running in September, at the height of the US strikes, and oversaw the overhaul of the Charity’s grant giving criteria, as well as leading on the work to examine and support the mental health of Jewish, Arab and Muslim workers in the industry following the events of 7[th] October 2023. The Charity looks forward to many more successes under Marcus’s leadership. 

26 



**THE FILM AND TELEVISION CHARITY - YEAR ENDED 31 MARCH 2024** 

## **100[th] anniversary** 

The Charity reached an incredibly important milestone in 2024 – its 100th anniversary. The Cinematograph Trade Benevolent Fund (and later the Cinema and Television Benevolent Fund) was founded in 1924 by senior figures from the Cinematograph Exhibitors Association, the Kinematograph Renters Society and the Incorporated Association of Kinematograph Manufacturers, represented respectively by E.W. Pashley Peall, Reginald C. Bromhead and J. Brooke-Wilkinson. Originally founded as two organisations; a Benevolent Fund and a Provident Fund, to help people working in the screen industries to overcome a spectrum of personal and professional challenges, before the days of the welfare state and the NHS. 

Above: (L to R) J. Brooke-Wilkinson, Reginald C. Bromhead and E.W. Pashley Peall. 

Left: Sir William Jury. 

Sir William Jury was appointed the first President of the Fund, and Reginald C. Bromhead appointed Chairman (equivalent today to the Chief Executive Office role). 

27 



**THE FILM AND TELEVISION CHARITY - YEAR ENDED 31 MARCH 2024** 

In the Fund’s first reported accounts, to 31[st] March 1926, it supported 64 individuals in the industry. The very first fundraising event was on Saturday 19th July 1924 with proceeds of £2,551 from a very upmarket garden party held in the Royal Botanical Gardens, Regents Park. Sir William Jury made an indemnity that the event would not make a loss of more than £1,000, which in today’s monetary value would be at least £50,000. In fact the event made a profit of £1,551 , and Sir William anyhow gave his £1,000. 

Left: The front cover of the programme for the 1924 Garden Party 

Below: The ticket to the 1924 Garden Party. 

Reproduced from items kindly on loan to the Charity from The Bill Douglas Museum (programme) and Andrew Lothian (ticket). 

The Charity began celebrating its 100[th] anniversary in February 2024 at a party to which many of its industry supporters and friends were invited, as well as past CEOs and board members. It also launched a year-long social media campaign telling the myriad stories of its past, present and future, and presented an exhibition celebrating 100 years in the café area of its 22 Golden Square home.  Later this year we hope to announce further celebrations, to coincide with a particularly special Royal Film Performance, celebrating our Royal Patronage, and the many hundreds and thousands of people who make up the UK’s film, television and cinema industries. 

Today’s Film and TV Charity, and all its beneficiaries over the last 100 years, owe a debt of gratitude to its early founders, and all those that supported, ran and evolved the organisation over the past 100 years. Its impact on the UK’s screen industries, and everyone within them, is immeasurable. 

28 



**THE FILM AND TELEVISION CHARITY - YEAR ENDED 31 MARCH 2024** 

The _Kinematography_ 1927 industry publication listing the Benevolent Fund and the Provident Institution. 

## **Conclusion** 

2023/24 was yet another eventful year for both the Charity and the industry. As in previous years, there was much to celebrate, but also some significant challenges, as the industry grappled with the aftereffects of Covid, the impacts and potential impacts of AI (as cited in the US strikes), and geopolitical conflicts. The pressing need for an organisation dedicated to supporting the wellbeing of the workforce, in this most important and significant UK industry, has never been more apparent. However, the economic backdrop cannot be ignored. 

The Film and TV Charity began the 2024/25 financial year facing these two realities, while still celebrating its 100[th] anniversary – a tricky balancing act. Unfortunately, while many elements of Strategy 2030, which was launched in 2021, where growing successfully, the organisation’s income was not in line with expectation, and its cost base was above where it had planned to be.  This has forced some difficult decision making about spending and resulted in reduction in both headcount and overall expenditure. Sadly, the Charity had to let some staff members go this year, and we thank them once again for their service to the Charity and the industry. 

In happier news, the Charity has confirmed His Royal Highness King Charles III as its Patron and looks forward to many Royal Film performances and other chances to make the most of this wonderful opportunity. 

Looking forward, the Charity is currently focusing on its two important projects – Reel Impact, and the Whole Picture Toolkit (now temporarily renamed as Mentally Healthy Productions while a new, engaging brand identity is developed), as well as continuing to serve the needs of our beneficiaries through the many services we provide, free of charge, to all. We look forward to this year’s Royal Film Performance and express all of our thanks to the businesses and individuals who continue to donate to the Charity. The work of the Film and TV Charity is more important than ever and could not be done without their kind generosity. 

29 



**THE FILM AND TELEVISION CHARITY - YEAR ENDED 31 MARCH 2024** 

## **Financial and Corporate Governance Review** 

## **Fundraising Governance** 

The Charity places great importance on fundraising governance and, in accordance with best practice, we are members of the Fundraising Regulator Scheme. That means that the Charity follows the **2019 Code of Fundraising Practice** in its fundraising activities. The Charity does not undertake any activity that could be classified as intrusive or persistent in its approach to individuals (vulnerable or otherwise) and does not apply undue pressure to donors to support fundraising activities. The Charity does not employ third party commercial participators or professional fundraisers to support the efforts of the inhouse fundraising team. Any complaints regarding fundraising activities are referred firstly to the Head of Fundraising, Tom Woodward and then to the CEO, and, during the year, no such complaints were received (2023: None). 

**Third Party Fundraising** only takes place in the form of individuals or companies creating fundraising activities in aid of the Charity. It is closely monitored by the fundraising team and any shared messaging is signed off by the Head of Fundraising. 

**Fundraising promise** The Charity’s fundraising promise is clearly defined on the website - - https://filmtvcharity.org.uk/our fundraising promise/ 

**Major Gifts Acceptance Policy** The engagement of any prospective donor with a gift capacity of £25,000 or more and the acceptance of any donations to the value of £25,000 or more is subject to approval by the Executive Team. : 30 aS 



**THE FILM AND TELEVISION CHARITY - YEAR ENDED 31 MARCH 2024** 

## **Review of the Group Financial Statements for the year ended 31 March 2024** 

The Group Financial Statements appear on pages 41 to 61 and note 2 sets out the basis on which they have been prepared. 

## **Operations and funds movement** 

Income from continuing activities for the year (within both unrestricted and restricted funds) totalled £1,487,000 (2023: £3,109,000), with the decrease being simply due to the corporate donors committing two years’ of donations in 2022/23, in line with the Charity’s fundraising strategy. Major industry corporates and the industry’s many production companies continue to support the Charity. The actors strike and writers strike during summer of 2023 led to the successful call to the industry to help the Charity deliver more grants to those in most need, raising an additional £291,000 in the year, income was slightly hampered by the cancellation of the planned Royal Film Performance for the same reason. 

Expenditure totalled £5,751,000 (2023: £5,022,000), with increases due mostly to the additional grant expenditure in response to the strikes (£591,000), and further investment in developing the digital capabilities of the organisation. 

The net change on the investment portfolio was a gain of £1,482,000 (2023: loss £790,000), there was no change in the revaluation of the investment property (2023: £Nil) nor in the revaluation of freehold property (2023: £Nil). 

Overall the net movement in funds for the year from continuing operations was a deficit of £2,777,000 (2023 deficit: £2,703,000). 

## **Investment Property** 

In accordance with FRS 102, the Charity’s investment property is required be to held at fair value at each year end date. In order to assess fair value, the Trustees have obtained professional advice for the valuation of the property at 22 Golden Square, and deemed that the valuation at 31 March 2024 had not changed since the last year (2023: £Nil). Details of the valuation are set out in note 11 to the financial statements. 

## **Funds and Reserves Policy** 

The Charity maintained a positive cash balance throughout the year. Cash balances are carefully managed, with sufficient cash retained to meet the short-term working capital requirements of the Charity. Short-term cash reserves at year end totalled £318,000 (2023: £420,000). The Trustees are of the opinion that the long-term cash flow position of the Charity remains satisfactory. 

The Charity has, over a number of years, built up an investment portfolio that at 31 March 2024 totalled £13,541,000 (2023: £15,714,000). To continue to increase the reach of the Charity we will need to grow a mix of stable income streams that can enable us to deliver our ambitions regardless of the performance of the investment portfolio. Investment income totalled £290,000 (2023: £372,000) and will not alone be sufficient to meet the growing funding requirements of our support activities. 

_Strategy 2030_ sets out the need to build a robust fundraising programme that will mean that the Charity is financially sustainable by 2026 and our future is secure. Despite our fundraising strategy, the Board has considered the demands on the reserves of the Charity and is comfortable that these will be significantly higher in the earlier years of delivering the strategy. 

**The Unrestricted Funds** shown in note 28 include a designated Fund of £2.5m created in 2020 (as £6.0M) to support the Charity’s long term clients, based on an external Actuarial valuation based on a projected commitment (cost) of the legacy client group over their lifetime, based on age and gender. 

The Charity’s two designated funds for the anti-racism work are; £214,000 for Black, Asian and minority ethnic and Disabled Clients Grants Fund created in 2021 (as £1m, to be spent in 2022-2025) and £950,000 for the Reel Impact (formerly Impact Partnership) Programme Fund created in 2021 (to be spent in 2023-2026). 

31 



**THE FILM AND TELEVISION CHARITY - YEAR ENDED 31 MARCH 2024** 

**The Restricted Funds** shown in note 19 represent income donated and held for the following specific purposes: 

- The Sir Arthur Jarratt Fund and the David Pratt Trust which together comprise the Children’s Fund, set up to help to relieve hardship for the children of the industry, totalling £428,000 (2023: £396,000) 

- Fully expended during the year is The London Weekend Television (LWT) Fund, being a transfer of assets from the former LWT Trust of £116,000. These funds have been used by the Charity to support former employees of LWT and other named ITV group companies and the final £50,000 was distributed during the year. 

Funds are held by the Charity to: 

- Enable us to offer sustainable support to our beneficiaries: the c.200,000 (and growing) number of people working in the UK film, TV and cinema industry 

- Invest in the innovation and development that will catalyse the services of the future 

- Guard against income fluctuations 

- Maintain our property at 22 Golden Square 

- • Deal with unforeseen events, including closedown 

At March 2024 the Film and TV Charity holds £13.5m in investments in addition to its property at 22 Golden Square, which has been valued at 31 March 2024 to £8.3m. The Charity’s free reserves at 31 March 2024 are £10.3m (2023: £11.6m), being the general unrestricted funds less amounts held in fixed assets. This amount may grow or shrink with market movements and further investment will be required to achieve the long-term sustainability of the Charity by 2026. 

The Trustees’ long-term free reserves target level is £10-15m, which would enable us offer continuity of support to our growing beneficiary base through any short-term income downturns, invest in future service development (as the Charity has been able to do with the Whole Picture Programme), maintain our asset at Golden Square, and account for extreme events including closedown in a managed way. 

32 



**THE FILM AND TELEVISION CHARITY - YEAR ENDED 31 MARCH 2024** 

## **Going Concern** 

The Trustees review the Charity’s financial plans and principal financial risks at their meetings four times each year, and additionally at the Finance Committee a further four times each year. The Trustees have reviewed the organisation’s on-going forecasts and projections to September 2026 to ensure that the Charity remains financially viable and are satisfied that it has sufficient resources to continue operating for the foreseeable future. 

During 2023/24 there was a new crisis in the industry when the US actors’ and writers’ strikes halted production and many were without work and suffered financial hardship. The Charity responded by giving a record amount of financial assistance (other than the first year of Covid19 in 2020/21), totalling almost £900k. Of this, £300k was drawdown from Reserves by way of additional expenditure approved by Trustees, £300k was additional income generated in response to the crisis, and £300k came from the regular grants budget. Responding in this way demonstrated that the Charity could raise additional funds from the industry in times of need, along with being able to turn to its Reserves. 

The current financial year saw the Charity’s investment portfolio generate a gain of £1,482,000 (2023: loss £790,000 ), and so leaving the Charity in a strong financial position with an investment portfolio of £13.5m. The Charity has enough investment and cash resources to support its activities into the future. The Charity has a strong balance sheet, with unrestricted liquid investments of £13.8m, and so the trustees are of the opinion that the charity will have sufficient resources to meet its liabilities as they fall due. As such, they remain satisfied that the Charity can continue operating for the foreseeable future and the financial statements have been prepared in the knowledge that the Charity is a financially viable organisation. 

Looking to the next accounting period, the year ending 31 March 2025, the most significant areas that are likely to affect the Charity’s net assets are the level of fundraising and other income to cover financial and other support to beneficiaries and the performance of the investment portfolio. 

## **Investment Policy** 

Rothschild Private Management Limited (Rothschild) manage the Charity’s investment portfolio. The Finance and committee review the performance of Rothschild at the quarterly committee meetings. The Charity’s investment approach is set out below: 

Attitude to the portfolio: The intention is for the portfolio to grow over the long term whilst also generating a sufficient return to help fund the Charity’s work. 

Risk: The Charity’s approach to risk is to have a medium risk profile and a balanced portfolio strategy. Return: The objective is to preserve wealth and achieve capital growth and income. In recent years the annual cash requirement has broadly equated to an annualised nominal long-term target requirement of 3% plus inflation per annum. 

The value of the investment portfolio at 31 March 2024 totalled £13,541,000 (2023: £15,714,000). The net gain on investment assets was £1,482,000 (2023: loss £790,000). The Charity’s investment portfolio continues to be monitored closely in the light of the volatility in global markets. 

## **Internal Controls** 

As part of the ongoing corporate governance review, the Trustees have considered the level of internal controls operating throughout the Group, deem them appropriate to manage enterprise risks, and are being operated effectively. 

33 



**THE FILM AND TELEVISION CHARITY - YEAR ENDED 31 MARCH 2024** 

## **Risk Management** 

The principal risk that the Charity manages is the successful delivery of the _Strategy 2030_ . During the year ended 31 March 2024, the Trustees have overseen a risk management strategy that comprised a regular review of the risks the Charity may encounter along with the effectiveness of the systems and procedures to mitigate those risks. The Finance Committee and the Board prepare reports on the key risks facing the Charity for consideration. 

The key risks identified by management and the methods for mitigating them are as follows: 

- 1) Converting short-term fundraising success into a long-term sustainable funding model, 

   - _Mitigated by_ : the development of the new Strategy 2030 with a redesigned core service and fundraising strategy, under constant review and revision. 

- 2) Being able to build profile, reputation and credibility in the industry, to allow the Charity to influence the industry and the work-lives of our beneficiaries, 

_Mitigated by:_ successful marketing campaigns to explain our work and relationship building with key partners and stakeholders. 

- 3) Risk of overcommitting/under resourcing current commitments, as a result unable to deliver to plans with reputational impacts which may harm future fundraising, 

_Mitigated by_ : Key personnel working closely together to understand priorities, and using robust project management tools and key performance metrics to ensure achievability of workplans . 

34 



**THE FILM AND TELEVISION CHARITY - YEAR ENDED 31 MARCH 2024** 

## **Subsidiaries** 

During the year, the Charity conducted specific activities through the following wholly owned subsidiary companies: 

Peter Rogers Productions Limited, which is part of the estate of the late Peter Rogers, who produced, among many other films, the ‘Carry On’ films. Peter Rogers Productions Limited receives film royalties and is a trading company. 

Film and Television Enterprises Limited is responsible for fundraising activities, specifically events, including the Royal Film Performances. The Charity had to cancel the planned Royal Film Performance[TM] due to the actors’ strike and writers’ strike, though the highly successful industry football and netball tournament the _Broadcast Fives_ made a return. 

The consolidated financial statements include the results of these entities, as detailed in note 19 to the financial statements. 

This concludes the Strategic Report. Approved by order of the Board. 

## Claire Tavernier 

## **Claire Tavernier** 

Chair and Trustee, The Film and Television Charity Registered office: 22 Golden Square, London W1F 9AD 

Company Number: 04816786, Registered in England and Wales, Registered Charity Number: 1099660 

## DD MMMM 2024 

35 



**THE FILM AND TELEVISION CHARITY - YEAR ENDED 31 MARCH 2024** 

## **Statement of responsibilities of the Trustees of The Film and Television Charity in respect of the Trustees’ Report and financial statements** 

The Trustees are responsible for preparing the Trustees’ Report, incorporating a Directors’ Report and Strategic Report, and the financial statements in accordance with applicable law and regulations. 

Company law requires the Trustees to prepare financial statements for each financial year. Under that law they are required to prepare the group and parent company financial statements in accordance with UK Accounting Standards and applicable law (UK Generally Accepted Accounting Practice). 

Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and charitable company and of the excess of income over expenditure for that period. In preparing each of the group and charitable financial statements, the Trustees are required to: 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles in the Charities SORP 2019; 

- make judgements and estimates that are reasonable and prudent; 

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the group and charitable company will continue its activities. 

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees are also responsible for ensuring that the assets are properly applied in accordance with charity law. 

The Trustees (who are also directors of the company) submit their report and the consolidated financial statements of The Film and Television Charity and its subsidiaries for the year ended 31 March 2024. This report also takes into account the requirements under the Companies Act 2006 to prepare a Directors’ Report and Strategic Report. 

In approving the Trustees’ Report, the Trustees are also approving the Directors’ Report and Strategic Report in their capacity as company directors. 

## **Disclosure of information to auditor** 

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that: 

- so far as the director is aware, there is no relevant audit information of which the Company's auditor is unaware, and 

- the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditor is aware of that information. 

## **Auditors** 

The auditor, Haysmacintyre LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006. 

Claire Tavernier, Chair 17[th] October 2024 

Suki Gill, Chair of the Finance Committee 17[th] October 2024 

36 



**THE FILM AND TELEVISION CHARITY - YEAR ENDED 31 MARCH 2024** 

**On the road in 2023/24** 

37 



**THE FILM AND TELEVISION CHARITY - YEAR ENDED 31 MARCH 2024** 

## **Independent auditor’s report to the members of The Film and Television Charity** 

## **Opinion** 

We have audited the financial statements of The Film and Television Charity for the year ended 31 March 2024 which comprise the Consolidated Statement of Financial Activities, the Consolidated and Charity Balance Sheets, the Consolidated Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 _The Financial Reporting Standard applicable in the UK and Republic of Ireland_ (United Kingdom Generally Accepted Accounting Practice). 

In our opinion, the financial statements: 

- give a true and fair view of the state of the group’s and of the parent charitable company’s affairs as at 31 March 2024 and of the group’s and parent charitable company’s net movement in funds, including the income and expenditure, for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 

- have been prepared in accordance with the requirements of the Companies Act 2006. 

## **Basis for opinion** 

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

## **Conclusions relating to going concern** 

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

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

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

## **Other information** 

The trustees are responsible for the other information. The other information comprises the information included in the Trustees’ Report, Strategic Report, Introduction from the Chair and the overview from the Chief Executive Officer. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.  We have nothing to report in this regard. 

38 



**THE FILM AND TELEVISION CHARITY - YEAR ENDED 31 MARCH 2024** 

## **Opinions on other matters prescribed by the Companies Act 2006** 

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

- the information given in the Trustees’ Report (which includes the strategic report and the directors’ report prepared for the purposes of company law) for the financial year for which the financial statements are prepared is consistent with the financial statements; and 

- the strategic report and the directors’ report included within the Trustees’ Report have been prepared in accordance with applicable legal requirements. 

Matters on which we are required to report by exception 

In the light of the knowledge and understanding of the group and the parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Report (which incorporates the strategic report and the directors’ report). 

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: 

- adequate accounting records have not been kept by the parent charitable company; or 

- the parent charitable company financial statements are not in agreement with the accounting records and returns; or 

- certain disclosures of trustees’ remuneration specified by law are not made; or 

- we have not received all the information and explanations we require for our audit. 

## **Responsibilities of trustees for the financial statements** 

As explained more fully in the trustees’ responsibilities statement [set out on page 36], the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. 

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

## **Auditor’s responsibilities for the audit of the financial statements** 

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

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

Based on our understanding of the group and the environment in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to charity and company law applicable in England and Wales, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as Companies Act 2006 and the Charities Act 2011, and consider other factors such as income tax, payroll tax and VAT. 

39 



## **THE FILM AND TELEVISION CHARITY - YEAR ENDED 31 MARCH 2024** 

We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to revenue recognition and management override of controls. Audit procedures performed by the engagement team included: 

- Inspecting correspondence with regulators and tax authorities; 

- Discussions with management including consideration of known or suspected instances of noncompliance with laws and regulation and fraud; 

- Evaluating management’s controls designed to prevent and detect irregularities; 

- Identifying and testing journals, in particular journal entries posted with unusual account combinations or with unusual descriptions; and 

- Challenging assumptions and judgements made by management in their critical accounting estimates, as set out in note 2n) to the accounts. 

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

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

## **Use of our report** 

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

Jane Askew (Senior Statutory Auditor) For and on behalf of Haysmacintyre LLP, Statutory Auditor 

Date: 18[th] October 2024 

10 Queen Street Place London EC4R 1AG 

40 



**THE FILM AND TELEVISION CHARITY - YEAR ENDED 31 MARCH 2024** 

## **Consolidated Statement of Financial Activities (incorporating Income and Expenditure account)** 

|Note<br>**Income from:**<br>Donations, gifts and legacies<br>3<br>Other trading activities - Fundraising<br>4<br>Investment income<br>5<br>Royalties income<br>**Total income**<br>**Expenditure on:**<br>Raising funds<br>Marketing, Communications &<br>Fundraising<br>6<br>Investment management costs<br>Total expenditure on raising funds<br>Charitable activities<br>Support granted to individuals<br>7<br>Impact and Innovation<br>Total expenditure on charitable<br>activities<br>**Total expenditure**<br>Net gain/(loss) on investments<br>13<br>**Net movement in funds**<br>**Reconciliation of funds:**<br>Total funds brought forward<br>**Total funds carried forward**<br>18/19|Unrestricted<br>Restricted<br>**Total**<br>2024<br>2024<br>**2024**<br>£’000<br>£’000<br>**£’000**<br>827<br>-<br>**827**<br>45<br>-<br>**45**<br>292<br>5<br>**297**<br>323<br>-<br>**323**|<br>Unrestricted<br>Restricted<br>2023<br>2023<br>£’000<br>£’000<br>1,797<br>260<br>192<br>-<br>367<br>5<br>488<br>-|<br>Total<br>2023<br>£’000<br>2,057<br> <br>192<br>372<br> <br>488|
|---|---|---|---|
||**1,487**<br>**5**<br>**1,492**<br>(1,681)<br>-<br>**(1,681)**<br>(80)<br>-<br>**(80)**|2,844<br>265<br>(1,582)<br>-<br>(97)<br>-|3,109<br>(1,582)<br> <br>(97)|
||(1,761)<br>-<br>**(1,761)**<br>(2,414)<br>(50)<br>**(2,464)**<br>(1,526)<br>-<br>**(1,526)**|(1,679)<br>-<br>(1,577)<br>(374)<br>(1,392)<br>-|<br>(1,679)<br> <br>(1,951)<br>(1,392)|
||(3,940)<br>(50)<br>**(3,990)**|(2,969)<br>(374)|(3,343)|
||**(5,701)**<br>**(50)**<br>**(5,751)**|(4,648)<br>(374)|(5,022)|
||1,456<br>26<br>**1,482**|(779)<br>(11)|(790)<br>(2,703)|
||**(2,758)**<br>**(19)**<br>**(2,777)**|(2,583)<br>(120)||
||24,254<br>447<br>**24,701 **|26,837<br>567|27,404|
||**21,496**<br>**428**<br>**21,924**|24,254<br>447|24,701|



The notes on pages 44 to 61 form part of these financial statements. 

41 



**THE FILM AND TELEVISION CHARITY - YEAR ENDED 31 MARCH 2024** 

## **Consolidated and Charity Balance Sheet** 

## **Company number:      04816786** 

||**The Group**|**The Group**|**The Group**|**The Charity**|**The Charity**|
|---|---|---|---|---|---|
|||**2024**|2023|**2024**|2023|
||Note|**£’000**|£’000|**£’000**|£’000|
|**Fixed Assets**||||||
|Tangible fixed assets|10|**5,667**|5,773|**5,667**|5,773|
|Investment property|11|**2,483**|2,483|**2,483**|2,483|
|Investments|11|**13,541**|**13,541**<br>15,714|**13,541**|**13,541**<br>15,714|
|Investments in subsidiaries|14|**-**|-|**1**|1|
|||**21,691**|**21,691**<br>23,970|**21,692**|**21,692**<br>23,971|
|**Current Assets**||||||
|Debtors|15|**163**|607|**182**|652|
|Cash at bank and in hand||**318**|420|**317**|409|
|||**481**|1,027|**499**|1,061|
|Creditors: amounts falling due||||||
|within one year|16|**(248)**|(296)|**(515)**|(330)|
|**Net current assets**||**233**|731|**(16)**|731|
|**Net assets**||**21,924**|**21,924**<br>24,701|**21,676**|**21,676**<br>24,702|
|Represented by:||||||
|**Funds**||||||
|Unrestricted funds:|18|||||
|General||**12,272**|**12,272**<br>13,858|**12,024**|**12,024**<br>13,859|
|Designated Funds:|18|||||
|Legacy Client Fund||**2,500**|3,250|**2,500**|3,250|
|Tangible Fixed Assets<br>Revaluation Reserve||**3,665**|3,665|**3,665**|3,665|
|Investment Property gains|Investment Property gains|**1,495**|1,495|**1,495**|1,495|
|Reel Impact Programme||**950**|1,000|**950**|1,000|
|Black, Asian and minority ethnic||||||
|and Disabled Clients Grants||**214**|686|**214**|686|
|Fund||||||
|Golden Square asset<br>sinking fund||**400**|300|**400**|300|
|Restricted funds|19|**428**|447|**428**|447|
|**Total Charity funds**||**21,924**|**21,924**<br>24,701|**21,676**|**21,676**<br>24,702|



For the year ended 31 March 2024, the net movement in funds was a decrease of £2,777k (2022: a decrease of £2,703k). 

The financial statements on pages 41 to 43 were approved by the Board of Trustee on 17 October 2024 and signed on its behalf by: 

Claire Tavernier, Chair 

Suki Gill, Chair of the Finance Committee 

The notes on pages 44 to 61 form part of these financial statements. 

42 



**THE FILM AND TELEVISION CHARITY - YEAR ENDED 31 MARCH 2024** 

## **Consolidated Statement of Cash Flows** 

|Note<br>Net cash flow used in operating activities<br>28a)<br>Net cash flows from investing activities<br>28b)<br>Net (decrease)/increase in cash and cash equivalents<br>Cash / cash equivalents - start of the reporting period<br>Change in cash / cash equivalents in the reporting period<br>Cash / cash equivalents - end of the reporting period<br>Cash and cash equivalents consist of:<br>Cash at bank and in hand|2024<br>£’000<br>2023<br>£’000<br>(4,017)<br>(2,577)<br>3,915<br>2,426|
|---|---|
||**(102)**<br>**(151)**|
||420<br>571<br>(102)<br>(151)|
||**318**<br>**420**|
|||
||**318**<br>**420**|



## **Analysis of changes in net debt** 

|Net Debt<br>Cash at bank<br>Net Debt|At 1 April<br>2023<br>Cash flow<br>At 31 March<br>2024<br>£’000<br>£’000<br>£’000<br>420<br>(102)<br>318|
|---|---|
||**420**<br>**(102)**<br>**318**|



The notes on pages 44 to 61 form part of these financial statements. 

43 



**THE FILM AND TELEVISION CHARITY - YEAR ENDED 31 MARCH 2024** 

## **Notes to the Accounts** 

## 1. Objectives of the Charity and General Information 

The Film and Television Charity is a company limited by guarantee incorporated and registered in England (company number 4816786) and a registered charity registered in England and Wales (charity number 1099660). The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. The objects and aims of The Film and Television Charity are set out in the Trustees Report. The annual statements are prepared in sterling, being the functional currency of the Charity, and are the financial statements for the group for the year ended 31 March 2024, rounded to the nearest thousand pounds. 

## 2. Accounting Policies 

- a) General 

The financial statements have been prepared in accordance with 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) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Companies Act 2006, and the Charities Act 2011. 

The Film and Television Charity meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. 

- b)  Going concern 

The financial statements are drawn up on the going concern basis which assumes the group will continue in operational existence for the foreseeable future. The Trustees have given due consideration to the working capital and cash flow requirements of the group for at least 12 months from the date of signature on the accounts. The most significant areas of adjustment and key assumptions that affect items in the accounts are to do with the uncertainties in the film and television production industries, affecting both levels of income that can be fundraised, and the level of grants that could be needed to support beneficiaries, the revaluation of investments and the investment property in these accounts. 

The Trustees are satisfied that there is no material uncertainty in relation to going concern and that the Charity has adequate resources to support itself for the 2 years to September 2026. 

## c)  Basis of consolidation 

- The group accounts consolidate the accounts of The Film and Television Charity and its wholly owned subsidiary undertakings, Film and Television Enterprises Limited and Peter Rogers Productions Limited. The financial statements are made up to 31 March 2024. 

No separate statement of financial activities or income and expenditure account has been presented for the Charity alone as permitted by section 408 of the Companies Act 2006. The results of the Charity for the year ended 31 March 2024 are included on page 29. 

## d) Investments 

- Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the fair value for investment properties and closing quoted market price for other quoted investments, except for the shares in the trading subsidiary which are carried at cost. The Statement of Financial Activities includes the net gains and losses arising on revaluation and disposals throughout the year, including the gains and losses arising from forward currency contracts. 

All gains and losses are taken to the Statement of Financial Activities as they arise. 

Investment properties are measured at fair value at each reporting date with changes in fair value recognised in ‘net gains on investment property’ in the Statement of Financial Activities and added to reserves in a separate revaluation reserve. 

44 



**THE FILM AND TELEVISION CHARITY - YEAR ENDED 31 MARCH 2024** 

## **Notes to the Accounts (continued)** 

- e) Fixed assets and depreciation 

   - Individual freehold and leasehold properties are carried at current year value, being fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the Balance Sheet date. Fair values are determined from market based evidence normally undertaken by professionally qualified valuers. 

Depreciation is calculated so as to write off the cost, less the estimated residual value, of the tangible fixed assets by equal instalments over their estimated useful lives. Annual rates applied on cost are: 

Land and buildings 2%, or the percentage necessary to write the asset down to zero by the year 2065 Plant and equipment 15% Office furniture and equipment 15% IT equipment 33% 

- f) Debtors and creditors receivable and payable within one year Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at the transaction price. Any losses from impairment are recognised in expenditure. 

## g) Income recognition 

- All income is included in the Statement of Financial Activities when the company is entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received. Where income has related expenditure (as with fundraising income), the income and related expenditure is reported gross in the Statement of Financial Activities. Income from fundraising events and associated costs are recognised in the period in which the event takes place. Income received in advance for a future fundraising event or for a grant received relating to the following year are deferred until the criteria for income recognition are met. 

Donations, grants and gifts are recognised when receivable. In the event that a donation is subject to fulfilling performance conditions before the company is entitled to the funds, the income is deferred and not recognised until it is probable that those conditions will be fulfilled in the reporting period. Income from Gift Aid tax reclaims is recognised for any donations with relevant Gift Aid certificates recognised in income for the year. 

For legacies, entitlement is taken on a case by case basis as the earlier of the date on which: the company is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the company that a distribution will be made, or when a distribution is received from the estate. 

Investment income represents gross interest and dividends and rental income.  The income is credited to the statement of financial activities on the date on which the income is receivable. Income from investments is allocated to the reserves on the ratio of the opening balances. Interest receivable is accounted for on an accruals basis. 

Royalty income is recognised when received. 

- h) Support grants 

   - Support grants payable to third parties are within the charitable objectives. Where unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant, as this gives rise to a reasonable expectation that the recipient will receive the grants. 

Where grants are conditional relating to performance then the grant is only accrued when any unfulfilled conditions are outside of the control of the company. Grants to beneficiaries are generally accounted for on a paid basis but grant payments are recognised as liabilities when a constructive obligation arises resulting in future payments being unavoidable. 

45 



**THE FILM AND TELEVISION CHARITY - YEAR ENDED 31 MARCH 2024** 

- i) Expenditure 

   - i) Expenditure is charged on an accruals basis and includes irrecoverable VAT.  Expenditure has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. 

   - ii) Expenditure on the raising of funds includes the direct costs of events together with the department and other support costs; and investment management costs. 

   - iii)  Expenditure on charitable activities includes the cost of the Grants and Welfare Development department and support granted to individuals, including the costs of visits to beneficiaries. 

   - iv)   Administration costs are those that assist the work of the company but do not directly represent charitable activities and include head office costs and governance costs. They are incurred directly in support of expenditure on the objects of the company. Where administration costs cannot be directly attributed to particular headings they have been allocated to the Development Department and Impact & Innovation Development, on a 50/50 basis, which is an estimate of time spent by staff in these areas. The breakdown of these costs is shown in note 6. 

   - v) Governance costs are those incurred in connection with the administration of the company and compliance with constitutional and statutory requirements. 

- j) 

## Funds 

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes. 

Designated funds comprise unrestricted funds of the company which the trustees have decided at their discretion to set aside to use for a specific purpose. The aim and purpose of each designated fund is set out in the notes to the financial statements (note18). 

Restricted funds are donations or legacies received, or income arising there from, which are specific for the purposes as set out by the donor, provided these are within the charitable aims of the fund. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each material designated and restricted fund is set out in the notes to the financial statements (note 19) 

## k) Taxation 

The Film and Television Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable trust for UK income tax purposes. Accordingly, The Film and Television Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Part 10 Income Tax Act 2007 or section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. 

- m) Pensions 

The Film and Television Charity operates a defined contribution pension plan further details of which are disclosed in note 8. Contributions are recognised in the Statement of Financial Activities in the period to which they relate. 

- n) Judgements and key sources of estimation uncertainty 

   - The preparation of financial statements requires management to make judgements, estimates and assumptions in the application of accounting policies that affect the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. Estimates and judgements are continuously evaluated and are based on historical experience and other factors including expectations of future events that are believed to be reasonable. Revision to accounting estimates are recognised in the period in which the estimates are revised, and any future period affected. Key sources of estimation uncertainty are as follows: 

46 



## **THE FILM AND TELEVISION CHARITY - YEAR ENDED 31 MARCH 2024** 

- Tangible fixed assets - the basis of calculation and assumption used to perform revaluation and useful economic life of assets used in calculating depreciation. The Charity reviews noncurrent assets each year for impairment, in line with accounting standards. 

- Fair value of investment and freehold property - 22 Golden Square is professionally valued annually using a yield methodology. This uses market rental values capitalised at a market capitalisation rate but there is an inevitable degree of judgement involved in that each property is unique and value can only ultimately be reliably tested in the market itself. 

- Investments - quoted investments are disclosed at bid values at the Balance Sheet date. 

## 3.  Donations, gifts and legacies 

|General donations<br>Whole Picture Programme<br>Legacies<br>Membership subscriptions<br>Voluntary staff contributions, GAYE<br>Total|Unrestricted<br>Restricted<br>Total<br>Total<br>Funds<br>Funds<br>2024<br>2023<br>£’000<br>£’000<br>£’000<br>£’000<br>795<br>-<br>795<br>1,553<br>-<br>-<br>-<br>260<br>23<br>-<br>23<br>235<br>6<br>-<br>6<br>6<br>3<br>-<br>3<br>3|
|---|---|
||**827**<br>**-**<br>**827**<br>**2,057 **|



Restricted income £0 (2023: £260,000 (Whole Picture Programme) 

## 4. Fundraising income 

|ndraising income||
|---|---|
|Royal Film PerformanceTM<br>Income from other events<br>Other income<br>Total|2024<br>2023<br>£’000<br>£’000<br>-<br>183<br>40<br>9<br>5<br>-|
||**45**<br>**192 **|



The Charity had planned a Royal Film Performance[TM] for 2023 though it had to be cancelled due to the actors’ and writers’ strikes. 2023 did see the return of the _Broadcast Fives_ football and netball event. 

## 5. Investment income 

|Dividends and interest on investments<br>Rents receivable<br>Total|Unrestricted<br>Restricted<br>Total<br>Total<br>Funds<br>Funds<br>2024<br>2023<br>£'000<br>£'000<br>£’000<br>£’000<br>130<br>2<br>132<br>192<br>162<br>3<br>165<br>180|
|---|---|
||**292 **<br>**5**<br>**297 **<br>**372**|



47 



**THE FILM AND TELEVISION CHARITY - YEAR ENDED 31 MARCH 2024** 

## 6.  Analysis of costs 2024 

|Staff costs<br>Other direct costs<br>Support costs:<br>_Office costs_<br>_Depreciation_<br>_Legal and insurance_<br>_Audit fee_<br>_Financing costs_<br>_Governance costs_<br>Sub total<br>Allocation of support costs<br>(50/50)<br>Total<br>Total all costs<br>Analysis of costs 2023<br>Staff costs<br>Other direct costs<br>Support costs:<br>_Office costs_<br>_Depreciation_<br>_Legal and insurance_<br>_Audit fee_<br>_Financing costs_<br>_Governance costs_<br>Sub total<br>Allocation of support costs<br>(50/50)<br>Total||Impact and<br>Innovation<br>£’000<br>Develop<br>ment<br>Team<br>£’000<br>Support<br>Team<br>£’000<br>Totals<br>2024<br>£’000<br>492<br>617<br>769<br>1,878<br>207<br>237<br>-<br>444<br>-<br>-<br>552<br>552<br>-<br>-<br>143<br>143<br>-<br>-<br>117<br>117<br>-<br>-<br>29<br>29<br>-<br>-<br>28<br>28<br>-<br>-<br>16<br>16|
|---|---|---|
|||**699**<br>**854**<br>**1,654**<br>**3,207**|
|||827<br>827<br>(1,654)<br>-|
|||**1,526**<br>**1,681**<br>**-**<br>**3,207**|
|||**3,207**|
|||Impact and<br>Innovation<br>£’000<br>Development<br>Team<br>£’000<br>Support<br>Team<br>£’000<br>Totals<br>2023<br>£,000<br>550<br>596<br>440<br>1,586<br>109<br>252<br>-<br>361<br>-<br>-<br>744<br>744<br>-<br>-<br>138<br>138<br>-<br>-<br>110<br>110<br>-<br>-<br>26<br>26<br>-<br>-<br>7<br>7<br>-<br>-<br>3<br>3|
|||**659**<br>**848**<br>**1,468**<br>**2,975**|
|||734<br>734<br>(1,468)<br>-|
|||**1,393**<br>**1,582**<br>**-**<br>**2,975**|
|||**2,975**|



48 



**THE FILM AND TELEVISION CHARITY - YEAR ENDED 31 MARCH 2024** 

## 7.  Support granted to individuals 

Support granted to individuals comprises financial grants and the Charity’s other forms of support services and work in the Film, television and cinema industry. The total amount of support during the year was £2,463,000 (2023: £1,951,000). 

The total number of grants was 2,173 (2023: 645). 

The costs of support granted to individuals related to restricted expenditure was £50,000 (2023: £374,000), costs incurred in administering the grants £954,000 (2023: £535,000), with the balance of £1,459,000 (2023: £1,042,000) being unrestricted. 

|The main types of grant were:<br>Regular monthly support grants<br>Other support<br>Support Line<br>Grants from unrestricted reserves<br>Whole Picture programme<br>Grants from the LWT Fund<br>Grants from restricted reserves<br>Total amount of support<br>Admin costs<br>Staff costs<br>Total<br>Split between:<br>Unrestricted funds<br>Restricted funds<br>Total|**2024**<br>**£’000**<br>**2023**<br>**£’000**<br>1,218<br>667<br>125<br>254<br>117<br>121|
|---|---|
||1,460<br>1,042<br>-<br>336<br>50<br>38<br>50<br>374|
||1,510<br>1,416<br>22<br>27<br>932<br>508|
||**2,464 **<br>**1,951 **|
||2024<br>£’000<br>2023<br>£’000<br>2,414<br>1,577<br>50<br>374|
||**2,464 **<br>**1,951 **|



49 



**THE FILM AND TELEVISION CHARITY - YEAR ENDED 31 MARCH 2024** 

## 8. Permanent staff – average 

The average monthly head count was 37 (2023: 34) and analysis of the staff employees in the year were: 

|2024|2024|2024|2023|
|---|---|---|---|
|Full time|Part time|Total|Total|
|31|6|37|34|



Total remuneration of all employees was: 

|Total remuneration of all employees was:||
|---|---|
|Wages and salaries (excluding temporary staff)<br>Employer’s national insurance contributions<br>Employer’s pension contributions<br>Other staff related costs<br>Total|2024<br>2023<br>£’000<br>£’000<br>2,139<br>1,872<br>244<br>226<br>231<br>180<br>154<br>149|
||**2,768**<br>**2,427**|



To comply with the auto enrolment pension legislation The Film and Television Charity automatically enrols all qualifying employees into a scheme at Royal London (formerly the National Employment Savings Trust (NEST) scheme until August 2023), where contributions from both employees and employers are at least 3% of the employees qualifying earnings, up to a maximum where an employee contributes 8% this is matched by the employer. 

One staff member continues to contribute to a stakeholder pension scheme operated by Scottish Widows plc. These employer contributions are enhanced to a multiplier of x1.5 for key management personnel, where the employee contributes between 5% and 8%. There were no outstanding or prepaid contributions at the year end. 

During the year The Film and Television Charity incurred no redundancy (2023: £16,000) and no ex-gratia payments (2023: £7,000). 

Other staff related costs included staff recruitment, staff training and development and other staff benefits. 

## 9. Key management remuneration 

The number of employees whose emoluments as defined for tax purposes amounted to certain limits was as follows: 

|was as follows:|||
|---|---|---|
||2024|2023|
|£80,000 to £89,999|1|-|
|£90,000 to £99,999|-|3|
|£100,000 to £109,999|2|-|
|£110,000 to £119,999|1|-|
|£170,000 to £179,999|-|1|



The figures used to calculate the bandings above are inclusive of wages, salaries and benefits, social security costs and employer pension contributions. 

The total cost for higher paid staff is £560,000 (2023: £572,000), which includes £60,000 for the period which the former CEO was employed by the Charity 

Two Trustees receive remuneration totalling £2,000 (£2023: £Nil) for attendance at meetings on the basis of usually working on a freelance basis. 

50 



**THE FILM AND TELEVISION CHARITY - YEAR ENDED 31 MARCH 2024** 

## 10. Fixed Assets (Group and Charity) 

|**Cost**<br>At 1 April 2023<br>Additions<br>Disposal<br>At 31 March 2024<br>**Depreciation**<br>At 1 April 2023<br>Charge for year<br>Disposal<br>At 31 March 2024<br>Net Book Value at 31 March 2024<br>Net Book Value at 31 March 2023||Freehold<br>land &<br>buildings<br>Plant &<br>equipment<br>Furniture &<br>office<br>equipment<br>Total<br>£’000<br>£’000<br>£’000<br>£’000<br>5,796<br>16<br>130<br>5,942<br>-<br>22<br>17<br>39<br>-<br>-<br>(2)<br>(2)|
|---|---|---|
|||**5,796**<br>**38**<br>**145**<br>**5,979**|
|||Freehold land<br>& buildings<br>Plant &<br>equipment<br>Furniture &<br>office<br>equipment<br>Total<br>£’000<br>£’000<br>£’000<br>116<br>2<br>51<br>169<br>116<br>6<br>21<br>143<br>-<br>-<br>-<br>-|
|||232<br>8<br>72<br>312|
|||**5,564**<br>**30**<br>**73**<br>**5,667**|
|||**5,680**<br>**14**<br>**79**<br>**5,773**|



Included within freehold land and buildings is the portion of the property, 22 Golden Square, used as the Charity’s office. Floors three to six, and part of floor 2, are rented out on commercial leases and are accounted for under Investment Property. The property had a red book valuation at 31 March 2022 by Savills (UK) Limited. Further detail in respect of the valuation is provided in Note 12. If the Golden Square land and buildings had not been included at valuation, they would have been included under the historical cost convention as follows: 

|Cost<br>Accumulated depreciation<br>Net book value<br>This is split between:<br>Freehold property<br>Investment property|2024<br>£’000<br>2023<br>£’000<br>4,065<br>4,065<br>(1,350)<br>(1,234)|
|---|---|
||2,715<br>2,831|
||1,901<br>1,982<br>814<br>849|
||2,715<br>2,831|



51 



**THE FILM AND TELEVISION CHARITY - YEAR ENDED 31 MARCH 2024** 

## 11. Investment Property Valuation 

|At the beginning of the year<br>Revaluations<br>At end of year|2024<br>2023<br>£’000<br>£’000<br>2,483<br>2,483<br>-<br>-|
|---|---|
||**2,483**<br>**2,483**|



The investment property represents the top four floors (floors three to six), and part of floor two of 22 Golden Square which are rented out to third parties and the value of the investment portion of the property, 22 Golden Square, is deemed to be £2,482,500 (2023: £2,482,500). 

The historic cost of the investment property was £954,000 (2023: £954,000). 

Based on the floor area of the investment property, 30% of the total costs are attributed to the investment property valuation. 

Under FRS 102, investment property should be carried at its fair value at each year-end date. An independent, professionally qualified RICs valuer, Savills (UK) Limited, was utilised as at 31 March 2022. This was done in accordance with RICS Valuation – Global Standards (incorporating the IVSC International Valuation Standards) effective from 31 January 2020, and the UK National Supplement effective 14 January 2019, together the ‘’Red Book’’.  We have also had specific regard to UK VPGA 8.3 Valuation of Charity Assets: Financial Statements and Charities Statement of Regulated Practice (SORP) FRS102 Update Bulletin 2 (October 2018). Refer to the accounting policies for further detail in respect of the basis of the valuation. 

For 31 March 2024 the trustees established that the property had not changed in valuation since the previous year, utilising advice from the Estates Team of Savills (UK) Limited. 

52 



## **THE FILM AND TELEVISION CHARITY - YEAR ENDED 31 MARCH 2024** 

## 12. Investments (Group and Charity) 

|2. Investments (Group and Charity)||
|---|---|
|Market value at 1 April<br>Add: acquisitions at cost<br>Less: disposal proceeds<br>Net gains/losses on investment assets<br>Market value at 31 March<br>Cost at 31 March|2024<br>£’000<br>2023<br>£’000<br>15,714<br>18,585<br>5,630<br>4,482<br>(9,332)<br>(6,657)<br>1,530<br>(696)|
||**13,542**<br>**15,714**|
||7,594<br>11,518|



Investments at market value are held in the following classes: 

|Equity North America/Europe<br>Equity UK<br>Structured Products/Hedge funds<br>Fixed Income UK<br>Fixed Income North America<br>Equity Asia, Japan, emerging markets and global<br>Other<br>Cash and cash equivalents<br>Total|2024<br>£’000<br>5,189<br>1,674<br>1,538<br>1,062<br>920<br>764<br>6<br>2,389|2023<br>£’000<br>38%<br>6,946<br>44%<br>12%<br>2,082<br>13%<br>11%<br>1,745<br>11%<br>8%<br>1,770<br>11%<br>7%<br>1,420<br>9%<br>6%<br>1,208<br>8%<br>-<br>32<br>-<br>18%<br>511<br>3%|
|---|---|---|
||**13,542**|**15,714**|



## 13. Net gain on investment assets 

||2024<br>2023|
|---|---|
||£'000<br>£'000|
|Quoted Investments:||
|||
|Realised gains on investment assets|1,654<br>838|
|Unrealised gains/(losses) on investment assets|(160)<br>(1,613)|
|Unrealisedgains/(losses)on forward currencycontracts|(12)<br>(15)|
|Net gains/(losses) on investment assets|**1,482**<br>**(790)**|



53 



**THE FILM AND TELEVISION CHARITY - YEAR ENDED 31 MARCH 2024** 

## 14. Investment in subsidiaries 

The Film and Television Charity has two wholly owned subsidiaries controlled by shares – Film and Television Enterprises Limited (Company Registration No: 6548265) and Peter Rogers Productions Limited (Company Registration No: 414245). Both registered in England and Wales. 

|**Shares in subsidiary companies**<br>(i) Film and Television Enterprises Limited<br>(ii) Peter Rogers Productions Limited|2024<br>2023<br>£<br>£<br> <br>2<br>2<br>100<br>100|
|---|---|
||102<br>102|



Film and Television Enterprises Limited organises the fundraising events on behalf of the Group. The company pays its profits to The Film and Television Charity by way of a Gift Aid donation, recognised by the Charity in the year in which it is paid. Activity in the 12 months to 31 March 2024 included ticket sales from film screenings, though the planned Royal Film Performance was cancelled due to the industry strikes. 

Peter Rogers Productions Limited is a company whose principal activity is the receipt of royalties from the exploitation of the film catalogue historically produced by Peter Rogers Productions Limited, notably the “Carry On” series of films and other titles produced by Peter Rogers and Betty Box. Where profits are generated, both subsidiaries pay these profits to The Film and Television Charity by way of a Gift Aid donation, recognised by the Charity in the year in which it is paid. 

A summary of the trading results of the subsidiaries during the year is shown below: 

|Turnover<br>Cost of Sales<br>Gross Profit<br>Administrative expenses<br>Operating profit on ordinary activities before<br>taxation<br>Tax on profit on ordinary activities<br>Profit for the year and total comprehensive income<br>Retained earnings at the start of the year<br>Gift Aid<br>Retained earnings at the end of the year<br>The assets and liabilities of the subsidiaries were:<br>Current assets<br>Creditors falling due in one year<br>Total net assets<br>Representing:<br>Share capital<br>Profit and loss account|**Film and Television**<br>**Enterprises Limited**<br>2024<br>2023<br>£’000<br>£’000<br>34<br>225<br> (17)<br>(40)<br>17<br>185<br>(25)<br>(23)<br>(8)<br>162<br>-<br> <br>(8)<br>162<br>(8)<br>(6)<br>-<br>(156)<br>(8)<br>(-)<br>2024<br>2023<br>£’000<br>£’000<br>17<br>14<br>(25)<br>(13)<br>(8)<br>1<br>1<br>1<br>(8)<br>-|**Peter Rogers**<br>**Productions Ltd**<br>2024<br>2023<br>£’000<br>£’000<br>278<br>488<br>(3)<br>-|**Peter Rogers**<br>**Productions Ltd**<br>2024<br>2023<br>£’000<br>£’000<br>278<br>488<br>(3)<br>-|
|---|---|---|---|
||17<br>(25)|275<br>(20)|488<br>(19)|
||(8)|255|469|
||<br>(8)|-<br>255|-<br>469|
||(8)<br>-|255<br>(255)|1<br>(469)|
||(8)|-|1|
||2024<br>£’000<br>17<br>(25)|2024<br>£’000<br>286<br>(30)|2023<br>£’000<br>45<br>(44)|
||(8)<br>1<br>(8)|256<br>1<br>255|1<br>1<br>-|



54 



**THE FILM AND TELEVISION CHARITY - YEAR ENDED 31 MARCH 2024** 

## 15. Debtors 

|Trade debtors<br>Amounts owed by group undertakings<br>Other debtors and prepayments<br>Total|2024<br>2023<br>Group<br>Charity<br>Group<br>Charity<br>£’000<br>£’000<br>£’000<br>£’000<br>77<br>74<br>5<br>2<br>-<br>-<br>-<br>8<br>86<br>108<br>602<br>642|
|---|---|
||**163**<br>**182 **<br>**607 **<br>**652 **|



All debtors shown are due within one year from the Balance Sheet date. (2023: £Nil due in more than one year). 

## 16. Creditors: amounts falling due within one year 

|Trade creditors<br>Amounts due to group undertakings<br>Other taxation and social security<br>Other creditors and accruals<br>Total|2024<br>2023<br>Group<br>Charity<br>Group<br>Charity<br>£’000<br>£’000<br>£’000<br>£’000<br>39<br>39<br>104<br>104<br>-<br>298<br>-<br>43<br>71<br>71<br>64<br>64<br>138<br>107<br>128<br>119|
|---|---|
||**248**<br>**515**<br>**296**<br>**330**|



Amounts owned to group undertakings are repayable on demand and no interest is on the balance outstanding. 

## 17. Related party transactions 

Other than the key management personnel remuneration disclosed in note 9, there were no other related party transactions in the year (2023: £Nil). 

Included within the financial statements of the subsidiary company Film and Television Enterprises Limited is a charge of £15,000 (2023: £15,000) made by the parent organisation, The Film and Television Charity, in respect of operational costs, which includes staff and office accommodation used on behalf of Film and Television Enterprises Limited activities. 

Included within the financial statements of the subsidiary company Peter Rogers Production Limited is a charge of £15,000 (2023: £15,000) made by the parent organisation, The Film and Television Charity, in respect of operational costs, which includes staff and office accommodation used on behalf of Peter Rogers Production Limited activities. 

Remuneration totalling £2,000 was paid to two Trustees (2023: £Nil) for undertaking their duties, being Trustees who meet the criteria for remuneration as they ordinarily work as freelancers in the industry. Expenses either reimbursed to, or paid on behalf of Trustees during the year amounted to £17,000l (2023: £3,000). Donations to the Charity from five trustees amounted to £1,034 (2023 £450 from one trustee) 

55 



**THE FILM AND TELEVISION CHARITY - YEAR ENDED 31 MARCH 2024** 

## 18. Unrestricted funds 2024 

|General funds<br>_Designated Funds_:<br>Legacy Client Fund<br>Tangible Fixed Assets<br>revaluation reserve<br>Investment Property<br>revaluation reserve<br>Reel Impact<br>Programme<br>Black, Asian and<br>minority ethnic and<br>Disabled Clients<br>Grants Fund<br>Golden Square asset<br>Sinking Fund|Balance at<br>the start of<br>the year<br>01/04/2023<br>Income<br>Expenditure<br>Gains/<br>Losses<br>Transfers<br>Balance at<br>the end of<br>the year<br>31/03/2024<br>£’000<br>£’000<br>£’000<br>£’000<br>£’000<br>£’000<br>13,858<br>1,487<br>(4,953)<br>1,456<br>424<br>12,272<br>3,250<br>-<br>(226)<br>(524)<br>2,500<br>3,665<br>-<br>-<br>-<br>-<br>3,665<br>1,495<br>-<br>-<br>-<br>-<br>1,495<br>1,000<br>-<br>(50)<br>-<br>-<br>950<br>686<br>-<br>(472)<br>-<br>-<br>214<br>300<br>-<br>-<br>-<br>100<br>400|
|---|---|
||**24,254 **<br>**1,487 **<br>**(5,701)**<br>**1,456**<br>**-**<br>**21,496**|



The opening and closing balances of the consolidated unrestricted funds includes the reserves of Film and Television Enterprises Limited £2 (2023: £2) and Peter Rogers Productions Limited £100 (2023: £100). Excluding the reserves of these companies, the total Charity unrestricted funds are £21,495,898 (2023: £24,253,898). 

A tangible fixed assets reserve of £3,665,000 (2023: £3,665,000) arises from the revaluation of the Charity’s office building at 22 Golden Square, London, which is classed as a designated fund held for the purpose of fulfilling the company’s objectives. There is also a designated fund of £1,495,000 (2023: £1,495,000) in relation to the uplift in the value of the proportion of the office which is recognised as an investment property. The asset sinking fund designates £100,000 each year from general funds to allow for future refurbishment work of the building, now £400,000 (2023: £300,000). 

In 2020 a designated fund of £6,000,000 was created to ring-fence monies to support a group of the Charity’s clients with which it has a long-standing relationship and a history of on-going financial support. The current actuarial valuation of £2,500,000 (2023: £3,250,000) uses the age and gender profile of these clients, and planned to be sufficient to support this group over their expected lifetimes. £226,000 was expended during the year on grants to clients (2023: £311,000). The transfer out of the legacy client fund and into general funds represents the movement to bring the balance of the fund to the value of the most recent actuarial valuation. 

In 2021 a designated fund of £1,000,000 was created to ring-fence monies to support Black, Asian and minority ethnic and disabled beneficiaries. The fund intends to counteract the underrepresentation of these groups by guaranteeing a minimum percentage of grant or other spend on these groups; currently 30% of grant spend for Black, Asian and minority ethnic workers and 15% for disabled workers. £472,000 was expended during the year on grants to clients (2023: £231,000). 

Also in 2021 a designated fund of £1,000,000 was created for the Charity’s Reel Impact Programme (formerly called the Impact Partnership Programme), intended to deliver anti-racism work through Black, Asian and minority ethnic organisations and community leaders working in film and TV. Expenditure totalled £50,000 (2023: £Nil). 

Deducting the designated fund from the unrestricted total leaves general funds of £12,272,000 (2022: £13,858,000). Included within general funds are fixed assets of £2,002,000 (2023: £2,108,000), meaning our free reserves figure is £10,270,000 (2023: £11,750,000). 

56 



**THE FILM AND TELEVISION CHARITY - YEAR ENDED 31 MARCH 2024** 

## Unrestricted funds 2023 

|General funds<br>_Designated Funds_:<br>Legacy Client Fund<br>Tangible Fixed Assets<br>revaluation reserve<br>Investment Property<br>revaluation reserve<br>Impact Partnerships<br>Programme<br>Black, Asian and<br>minority ethnic and<br>Disabled    Clients<br>Grants Fund<br>Golden Square asset<br>Sinking Fund|Balance at<br>the start of<br>the year<br>01/04/2022<br>Income<br>Expenditure<br>Gains/<br>Losses<br>Transfers<br>Balance at<br>the end of<br>the year<br>31/03/2023<br>£’000<br>£’000<br>£’000<br>£’000<br>£’000<br>£’000<br>15,360<br>2,844<br>(4,107)<br>(778)<br>539<br>13,858<br>4,200<br>-<br>(311)<br>(639)<br>3,250<br>3,665<br>-<br>-<br>-<br>-<br>3,665<br>1,495<br>-<br>-<br>-<br>-<br>1,495<br>1,000<br>-<br>-<br>-<br>-<br>1,000<br>917<br>-<br>(231)<br>-<br>-<br>686<br>200<br>-<br>-<br>-<br>100<br>300|
|---|---|
||**26,837 **<br>**2,844**<br>**(4,649)**<br>**(778)**<br>**-**<br>**24,254 **|



57 



**THE FILM AND TELEVISION CHARITY - YEAR ENDED 31 MARCH 2024** 

## 19. Restricted Funds 2024 

|Sir Arthur Jarratt Fund<br>David Pratt Trust<br>LWT Fund<br>Total restricted funds|Balance at<br>the start of<br>the year<br>01/04/2023<br>Income<br>Expenditure<br>Gains/<br>(Losses)<br>Transfers<br>Balance at<br>the end of<br>the year<br>31/03/2024<br>£’000<br>£’000<br>£’000<br>£’000<br>£’000<br>£’000<br>321<br>4<br>-<br>21<br>-<br>346<br>76<br>1<br>-<br>5<br>-<br>82<br>50<br>-<br>(50)<br>-<br>-<br>-|
|---|---|
||**447**<br>**5**<br>**(50)**<br>**26**<br>**-**<br>**428**|



The Sir Arthur Jarratt Fund and the David Pratt Trust are both reserved for the provision of relief to the children of beneficiaries and combined are referred to as the Children’s Fund. There was no expenditure during the year (2023: £NIL) from these funds as no qualifying grants were made. The funds, which total £428,000 (2022: £397,000) at the end of the year, are represented by investments of £428,000 (2023: £397,000) on the balance sheet. 

The LWT Fund was created following a transfer of funds from the previous London Weekend Television Charitable Trust 1002690 of £116,000. During the year the final £51,000 (2023: £37,000) was expended from the fund to the qualifying beneficiaries, and the fund is now closed. 

## Restricted Funds 2023 

|Sir Arthur Jarratt Fund<br>David Pratt Trust<br>Whole Picture Prog<br>LWT Fund<br>Total restricted funds|Balance at<br>the start of<br>the year<br>01/04/2022<br>Income<br>Expenditure<br>Gains/<br>(Losses)<br>Transfers<br>Balance at<br>the end of<br>the year<br>31/03/2023<br>£’000<br>£’000<br>£’000<br>£’000<br>£’000<br>£’000<br>325<br>4<br>-<br>(9)<br>-<br>320<br>78<br>1<br>-<br>(3)<br>-<br>76<br>76<br>260<br>(336)<br>-<br>-<br>-<br>88<br>-<br>(37)<br>-<br>-<br>51|
|---|---|
||**567**<br>**265**<br>**(373)**<br>**(12)**<br>**-**<br>**447**|



58 



## **THE FILM AND TELEVISION CHARITY - YEAR ENDED 31 MARCH 2024** 

## 20. Net assets by funds 2024 

|20. Net assets by funds 2024|||||
|---|---|---|---|---|
||Free|Restricted|Designated|Total|
||reserves|funds|funds|funds|
||£’000|£’000|£’000|£’000|
|Tangible fixed assets|2,002|-|3,665|5,667|
|Investment property|988|-|1,495|2,483|
|Investments|9,049|428|5,236|13,541|
|Net current assets|233|-|-|233|
|Total net assets|**12,272**|**428**|**9,224**|**21,924**|
|Net assets by funds 2023|||||



|Net assets by funds 2023|||||
|---|---|---|---|---|
||Free|Restricted|Designated|Total|
||Reserves|funds|funds|funds|
||£’000|£’000|£’000|£’000|
|Tangible fixed assets|2,108|-|3,665|5,773|
|Investment property|988|-|1,495|2,483|
|Investments|10,031|447|5,236|15,714|
|Net current assets|731|-|-|731|
|Total net assets|**13,858**|**447**|**10,396**|**24,701 **|



## 21. Movement in Funds (Group) 

Expenditure is stated after charging/(crediting): 

|Expenditure is stated after charging/(crediting):|||
|---|---|---|
||2022|2023|
||£’000|£’000|
|Depreciation|143|138|
|Auditor’s remuneration: Audit of the Charity’s accounts|19|17|
|Audit - Charity’s subsidiaries|10|9|
|Gain/(loss) on fair value movement of investment property|-|-|
|Gain/(loss) on revaluation of freehold property|-|-|
|Realised gains on investment assets|1,653|838|
|Unrealised gains/(losses) on investment assets and forward|||
|currency contracts|(173)|(1,629)|



## 22. Share capital and movement in shareholders’ funds 

The company is limited by guarantee and therefore has no share capital. The liability of the members of the charity is limited to £1 each. 

59 



**THE FILM AND TELEVISION CHARITY - YEAR ENDED 31 MARCH 2024** 

## 23. Notes to the cash flow statement 

a) Reconciliation of net expenditure to net cash flow from operating activities 

|Net surplus/(deficit) for the year (net movement in funds)<br>Less: investing activities: rents<br>Less: investing activities: dividends and bank interest<br>Net losses/(gains) on investment assets<br>Depreciation and write downs<br>(Increase)/decrease in debtors<br>(Decrease)/increase in creditors<br>Net cash flow used in operating activities<br>b)<br>Net cash flows from investing activities|**2024**<br>**2023**<br>**£’000**<br>**£’000**<br>(2,777)<br>(2,703)<br>(165)<br>(180)<br>(132)<br>(192)<br>(1,482)<br>790<br>143<br>138<br>444<br>(357)<br>(48)<br>(73)|
|---|---|
||**(4,017)**<br>**(2,577)**|
|||



|Investment income – rents<br>Investing income: dividends and bank interest<br>Purchase of tangible fixed assets<br>Sale of tangible fixed assets<br>Net cash withdrawals from investment portfolio|**2024**<br>**2023**<br>**£'000**<br>**£'000**<br>165<br>180<br>132<br>192<br>(39)<br>(27)<br>2<br>-<br>3,655<br>2,081|
|---|---|
||**3,915**<br>**2,426**|



60 



THE FILM AND TELEVISION CHARITY- YEAR ENDED 31 MARCH 2024
FILM+TV
CHARITY
our support
is just a
phone call away
0800 054 000
61