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2022-03-31-accounts

REGISTERED COMPANY NUMBER: 03172021 (England and Wales) REGISTERED CHARITY NUMBER: 1100890

Report of the Trustees and

Financial Statements

for the Year Ended 31 March 2022

for

Media Archive of Central England Limited (A Company Limited by Guarantee)

Media Archive of Central England Limited (A Company Limited by Guarantee)

Contents of the Financial Statements for the year ended 31 March 2022

Page
Report of the Trustees 1 to 7
Independent Examiner's Report 8 to 9
Statement of Financial Activities 10
Statement of Financial Position 11 to 12
Notes to the Financial Statements 13 to 22

Media Archive of Central England Limited (A Company Limited by Guarantee)

Report of the Trustees for the year ended 31 March 2022

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The purpose of the charitable company is the selection, acquisition and documentation of the moving image culture and history of the East and West Midlands for public benefit and education.

Following a challenging year with the onset of the pandemic, the archive entered a period of readjustment and recovery in 2021/22. Throughout, and with grateful support to the British Film Institute, MACE delivered its role as strategic lead organisation for screen heritage in the East and West Midlands regions. Key objectives achieved in the year included: securing the preservation of thousands of at-risk videotapes through participation in the British Film Institute-led 'Heritage 22' screen heritage partnership project; continued delivery of activities related to the Coventry City of Culture year, notably curating materials for screenings, workshops and exhibitions in the city and collaboration with partners to support long-term preservation of and access to audiovisual collections; and delivery of a strategic review of public access film archives working with the professional network for film archives in the UK that reached out to 100+ individuals and organisations.

Public benefit

In shaping our objectives for the year and planning our activities, the Trustees have considered the Charity Commissions guidance on public benefit, in particular, the Trustees consider how specific projects will contribute to their objectives.

The Archive contributes to the public benefit by creating, maintaining and making available a collection of moving image materials (film, tape and digital) to further understanding of the culture and heritage of the East and West Midlands. The collection is publicly available but is particularly used in educational contexts.

Strategic Aims

Page 1

Media Archive of Central England Limited (A Company Limited by Guarantee)

Report of the Trustees for the year ended 31 March 2022

ACHIEVEMENT AND PERFORMANCE Charitable activities

Introduction

2021/22 was a year of readjustment and recovery for the archive following our period of closure the previous year. The ongoing pandemic continued to impact the archive but we were able to adapt ways of working to meet the challenges. Hybrid working became standard across the team and screening activities embraced the virtual sphere while a more limited number of in-venue events took place.

The year's challenges were ably met by our archive team under the strong leadership of our Director who has continued in very difficult circumstances to sustain the organisation and its staff. We are also hugely thankful to the university, to the British Film Institute and to our funders, partners and donors for their highly valued and continued support.

Collection matters

With the introduction of hybrid working, it was essential to maintain systems for remote monitoring of the conditions in the storage vault. During 2021/22, the Lincoln storage facility continued to perform well. Collecting activities picked up with 3,014 items collected. The core collection continues to occupy approximately 80% of the available space.

Continued access to our facilities throughout the year meant we were able to provide a programme of preservation across 2021/22 with over 1,000 items and 156 hours of content was digitsed and digitally preserved. This was aided further by the increased digital capacity and improved infrastructure implemented the previous year through support from NLHF. During the year, 3,000+ items were also digitally preserved through the BFI's national Heritage 22 partnership project.

The agreement with ITV for the arrangements relating to the collections of regional independent television held at MACE continues.

Accessibility

Virtual

There was a gradual return to pre-pandemic levels in terms of cataloguing activity with 1,791 new catalogue entries produced. 67,770 titles are now included in the online catalogue and 7,700+ of these entries have an accompanying film extract and are available to view freely online. In addition, there are over 100 films or compilations from the collection available to view on MACE's Vimeo channel.

The comparatively sharp increase in the archive's reach with audiences online during 2020/21, which was understood to have resulted from a shift in user behaviour as a consequence of the Covid-19 pandemic, was not repeated this year. Nonetheless, the general upward trend continued regarding growth in public engagement with MACE's collections online and in public enquiries over the previous few years. Engagement via the website was approximately 30% higher than pre-pandemic levels.

In addition to 7,700+ film extracts available on MACE's website, the archive continues to supply 650+ free to view titles on the BFI's VoD BFI Player platform

Page 2

Media Archive of Central England Limited (A Company Limited by Guarantee)

Report of the Trustees for the year ended 31 March 2022

Viewing and screening

MACE typically delivers screen heritage outreach, access and screening activities, collaborating with other heritage, film cultural and creative industries sector partners in the Midlands and beyond. Much of this in-venue activity could not go ahead while restrictions were imposed and planned events were either cancelled or postponed until Q3. Thereafter, the archive worked with partners to deliver screening activities in Coventry as part of the delayed City of Culture year and, separately, with other regional film archives on a short film produced in response to the pandemic. Overall, capacity to supply material for external screenings/events across the museums, libraries and archives and education sectors during the year shrank by 50%.

Education

MACE's Director and CEO, Dr Clare Watson, holds a senior academic position within the College of Arts at the University of Lincoln where, in addition to running the archive, she supports student and research engagement. During 2021/22, she convened archive internship modules with teaching returning onsite at the start of the year in line with university policy.

The archive contributes to educational activities aimed at the wider film, cultural and heritage sectors. In 2021/22, the Director, also Chair of Film Archives UK, the network for public film archives in UK, led the delivery of a TNA-funded project focused on strategic planning and digital skills for the sector. The project conducted research, several surveys and workshops, and it engaged 100+ individuals and organisations nationally. Additionally, MACE supports educational opportunities through volunteering and for people across the region and UK. MACE is a partner of the Midlands4Cities AHRC consortium and, separately, is co-supervising a Collaborative Doctoral Award candidate with University of Warwick.

Page 3

Media Archive of Central England Limited (A Company Limited by Guarantee)

Report of the Trustees for the year ended 31 March 2022

FINANCIAL REVIEW

Financial position

Part of MACE's annual income is derived from grant funding and the baseline level of funding awarded by the British Film Institute, which is subject to annual review, is secured until 2023. The BFI is MACE's primary funder and lead body for film. As previously reported, the BFI, from whom MACE has received regular grant funding as one of their partnership bodies, was cut in the spending review of November 2015. As a result BFI discontinued the distribution of grant-in-aid to its partnership organisations, transferring a standstill sum into a Lottery Regional Archives Investment Fund award for which MACE made a successful bid. During 2016/17, the BFI announced a continuation of this fund alongside the launch of its five-year 2022 Strategy covering the period 2017-2022. MACE was awarded funding in 2017/18 for the period 2017-2020. During 2019/20, BFI introduced changes with respect to the financial support it provides to regional public film archives in England and it discontinued the RAIF award in March 2020. For the period 2020-2023, MACE has been awarded funding from the BFI's competitive Audience Fund programme aimed at organisations that engage audiences with film. From 2023, MACE will apply to BFI via its new competitive Lottery fund for screen heritage.

Other grant income is less predictable and annual income fluctuates according to the varying availability of traditional sources of project-based funding and the levels of funding grants awarded. During 2021/22, MACE was able to restart work on projects not possible during the earlier period of the Covid-19 pandemic. This included the BFI-led Heritage 22 screen heritage project and work for the Coventry City of Culture year.

MACE continues to receive significant support from the University of Lincoln with donations received again during the current year. The charity is immensely grateful to the University of Lincoln and hopes to retain their continued support over the coming years.

During 2021/22, the archive's financial position stabilised as the archive gradually settled into a new phase of hybrid working. Moving forward, income generation continues to assume a significant role in the strategy for the long term sustainability of the archive. At the year end, income generation totalled £408,060. A balanced budget has been prepared for 2022/23.

Reserves policy

It is the policy of MACE to maintain unrestricted funds, which are the unrestricted general reserves of the Charity. The reserves will be reviewed annually. The charity will endeavour to maintain reserves at a level that would enable it to fulfil contractual and statutory obligations, carry out its mission to safeguard collections, mitigate shortfalls in income and meet unforeseen costs. The level of free reserves as at 31 March 2022 amount to £190,004 (2021: £167,940) which is considered adequate to cover the above requirements.

Going concern

The Board of Trustees review quarterly and on an annual basis the financial position of the company. MACE are not aware of any material uncertainties that may cast significant doubt about the ability of the company to continue as a going concern. Whilst monthly income generated from sales and licensing does fluctuate, it stabilised during the year. Part of MACE's annual income is derived from grant funding awarded by the British Film Institute. The nature of this funding stream will change in 2023 as BFI introduces its new 10-year strategy, but it is anticipated that a similar level of funding will be available. Other grant income is less predictable, however, regular financial checks mean that levels of expenditure would be reduced in order to enable MACE to continue to operate were the level of income to fall significantly.

Page 4

Media Archive of Central England Limited (A Company Limited by Guarantee)

Report of the Trustees for the year ended 31 March 2022

FUTURE PLANS

Our priorities for 2022/23 are:

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a memorandum and articles of association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

MACE (Media Archive of Central England LTD) is a charity and also a not for profit company limited by guarantee, incorporated on 13 March 1996 and registered as a charitable trust on 26 November 2003. The company was established under a Memorandum of Association that established the objects and powers of the charitable company and is governed under its Articles of Association as amended by Special Resolutions dated 8 January 2002. In the event of the company being wound up, members are required to contribute an amount not exceeding £10 per member.

Page 5

Media Archive of Central England Limited (A Company Limited by Guarantee)

Report of the Trustees for the year ended 31 March 2022

STRUCTURE, GOVERNANCE AND MANAGEMENT

Recruitment and appointment of new trustees

As set out in the Articles of Association no person can be appointed a Trustee unless he has attained the age of 18 or in circumstances such that he has already been a Trustee, he would have been disqualified from acting under the provisions of Article 38. The Trustees may appoint a person who will act to be Trustee either to fill a vacancy or as an additional Trustee. The number of Trustees at any one time must not be less than 2 but is not subject to any maximum.

Nominations for Trustees are put forward by existing Trustees. Nominees may be invited to attend a meeting of the Board of Trustees. Appointment is by a majority vote.

Organisational structure

The Board meets at least 4 times per year and a Chair is appointed by the Trustees. To facilitate effective operations the Chair has delegated authority within terms of delegation approved by the Trustees, for operational matters including finance, employment and related activity to the Chief Executive Officer (CEO).

The Charity is organised so that the Trustees meet regularly to oversee its affairs. The CEO manages the day-to-day administration of the Archive and its staff.

Induction and training of new trustees

All the new Trustees are invited to an induction meeting with the CEO and the Chair who is also the Company Secretary. They will ensure new Trustees are fully aware of their legal obligations under Charity and Company Law.

The Chair and CEO will also brief the new Trustees on the content of the Memorandum and Articles of Association, the Business Plan and financial performance. As part of the induction all new Trustees will be given the opportunity to meet all staff and fellow Trustees.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

03172021 (England and Wales)

Registered Charity number

1100890

Registered office

Alfred Tennyson Building University of Lincoln Brayford Pool LINCOLN Lincolnshire LN6 7TS

Page 6

Media Archive of Central England Limited (A Company Limited by Guarantee)

Report of the Trustees for the year ended 31 March 2022

Trustees

Ms S M Malden Professor E R Johnson Mr P Youngson Professor K Cowman Mr S M Sharman Mr G M Campbell Ms A Huntley Prof D Symonds (appointed 14.3.22)

Company Secretary

Ms S M Malden

Independent Examiner

Steven Robinson ACA ICAEW Nicholsons Chartered Accountants Newland House The Point Weaver Road LINCOLN Lincolnshire LN6 3QN

Solicitors

Spearing Waite LLP 41 Friar Lane LEICESTER Leicestershire LE1 5RB

Bankers

Unity Trust Bank PLC PO Box 7193 Planetary Road WILLENHALL WV1 9DG

Approved by order of the board of trustees on 22 December 2022 and signed on its behalf by:

Ms S M Malden - Trustee

Page 7

Independent Examiner's Report to the Trustees of Media Archive of Central England Limited

Independent examiner's report to the trustees of Media Archive of Central England Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2022.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Page 8

Independent Examiner's Report to the Trustees of Media Archive of Central England Limited

Independent examiner's statement

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

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

  1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

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

Steven Robinson ACA ICAEW Nicholsons Chartered Accountants Newland House The Point Weaver Road LINCOLN Lincolnshire LN6 3QN

22 December 2022

Page 9

Media Archive of Central England Limited (A Company Limited by Guarantee)

Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the year ended 31 March 2022

Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
264,551
Charitable activities
Conservation and preservation of media
archive
143,360
Investment income
3
102
Other income
47
Total
408,060
EXPENDITURE ON
Raising funds
5
251,827
Charitable activities
Conservation and preservation of media
archive
154,164
Total
405,991
NET INCOME
2,069
RECONCILIATION OF FUNDS
Total funds brought forward
238,981
TOTAL FUNDS CARRIED FORWARD
241,050		 Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
-		 2022
Total
funds
£
264,551
143,360
102
47
408,060
251,827
154,164
405,991
2,069
238,981
241,050		 2021
Total
funds
£
373,037
98,721
59
132
471,949
250,387
135,378
385,765
86,184
152,797
238,981

The notes form part of these financial statements

Page 10

Media Archive of Central England Limited (A Company Limited by Guarantee)

Statement of Financial Position 31 March 2022

Unrestricted
fund
Notes
£
FIXED ASSETS
Tangible assets
10
51,046
CURRENT ASSETS
Stocks
11
2,140
Debtors
12
24,089
Cash at bank and in hand
190,965
217,194
CREDITORS
Amounts falling due within one year
13
(27,190)
NET CURRENT ASSETS
190,004
TOTAL ASSETS LESS CURRENT
LIABILITIES
241,050
NET ASSETS
241,050
FUNDS
14
Unrestricted funds
TOTAL FUNDS		 Restricted
funds
£
-
-
-
-
-
-
-
-
-		 2022
Total
funds
£
51,046
2,140
24,089
190,965
217,194
(27,190)
190,004
241,050
241,050
241,050
241,050		 2021
Total
funds
£
71,041
2,368
55,872
143,479
201,719
(33,779)
167,940
238,981
238,981
238,981
238,981

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

Page 11

continued...

Media Archive of Central England Limited (A Company Limited by Guarantee)

Statement of Financial Position - continued 31 March 2022

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

The financial statements were approved by the Board of Trustees and authorised for issue on 22 December 2022 and were signed on its behalf by:

Ms S M Malden - Trustee

The notes form part of these financial statements

Page 12

Media Archive of Central England Limited (A Company Limited by Guarantee)

Notes to the Financial Statements for the year ended 31 March 2022

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Income

Income:

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

Grants:

Income from grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Donated services and facilities:

Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably.

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

Volunteers:

We benefit from time given by a number of volunteers across the different services that we offer. In accordance with the Charities SORP (FRS 102) as we are able to value the use of volunteers the time offered by volunteers is recognised within the financial statements.

Expenditure

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

Tangible fixed assets

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

Computer equipment - 25% on cost and 10% on cost

Page 13

continued...

Media Archive of Central England Limited (A Company Limited by Guarantee)

Notes to the Financial Statements - continued for the year ended 31 March 2022

1. ACCOUNTING POLICIES - continued

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

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

Fund accounting

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

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

Further explanation of the nature and purpose of each fund is included in the notes to the Financial Statements.

Pension costs and other post-retirement benefits

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

Financial instruments

Only basic financial instruments as defined in FRS 102 are held. Financial assets and financial liabilities are recognised in the accounts only when the entity becomes party to the contractual provisions of the instrument and their measurement basis is as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.

Cash at bank is classified as a basic financial instrument and is measured at transaction price.

Financial liabilities - trade creditors, accruals and other creditors are basic financial instruments, and are measured at amortised cost. Where a financial liability constitutes a financing transaction it is initially and subsequently measured at the present value of future payments, discounted at a market rate of interest.

Value Added Tax

The Charity is VAT registered. All figures shown are exclusive of VAT.

Page 14

continued...

Media Archive of Central England Limited (A Company Limited by Guarantee)

Notes to the Financial Statements - continued for the year ended 31 March 2022

2. DONATIONS AND LEGACIES

DONATIONS AND LEGACIES
Donations
Grants		 2022
£
160,663
103,888
264,551		 2021
£
159,356
213,681
373,037

The income from donations included £160,643 (2021: £159,278) pertaining to donated services. The charity is grateful to the University of Lincoln for the provision of rental space totalling £57,750 (2021: £55,000) as well as office costs provided for within the current period totalling £22,440 (2021: £17,525) and also for the continued support in providing the charity with a full time CEO to steer and guide the charity.

Grants received, included in the above, are as follows:

British Film Institute
Heritage Lottery Fund
The National Archives
3.
INVESTMENT INCOME
Deposit account interest
4.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Income from sale of
Conservation and preservation of media
resources
archive		 2022
£
101,524
-
2,364
103,888
2022
£
102
2022
£
143,360		 2021
£
150,781
47,900
15,000		 2021
£
150,781
47,900
15,000
213,681
2021
£
59
2021
£
98,721		 2021
£
59

Page 15

continued...

Media Archive of Central England Limited (A Company Limited by Guarantee)

Notes to the Financial Statements - continued for the year ended 31 March 2022

5. RAISING FUNDS

Other trading activities

Other trading activities
2022
£
Purchases
251
Staff costs
251,576
251,827
SUPPORT COSTS
Governance
Management
Finance
costs
£
£
£
Conservation and preservation of media
archive
132,821
700
20,643		 2021
£
197
250,190
250,387
Totals
£
154,164

6. SUPPORT COSTS

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

Management

2022
Conservation
and
preservation
of media
archive
£
Insurance
2,536
Light and heat
12,000
Telephone
1,658
Motor and travelling
573
Communication and IT
10,679
Other office costs
70,993
Other costs
13,796
Depreciation
20,586
132,821		 2021
Total
activities
£
2,559
10,000
1,050
345
11,809
63,964
5,961
18,086
113,774

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continued...

Media Archive of Central England Limited (A Company Limited by Guarantee)

Notes to the Financial Statements - continued for the year ended 31 March 2022

6. SUPPORT COSTS - continued Finance

2022
Conservation
and
preservation
of media
archive
£
Bank charges
700
Governance costs
2022
Conservation
and
preservation
of media
archive
£
Independent examiner fee
2,565
Professional fees
18,078
20,643
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
2022
£
Depreciation - owned assets
20,585		 2021
Total
activities
£
598
2021
Total
activities
£
2,613
18,393
21,006
2021
£
18,087

7. NET INCOME/(EXPENDITURE)

8. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.

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Media Archive of Central England Limited (A Company Limited by Guarantee)

Notes to the Financial Statements - continued for the year ended 31 March 2022

8. TRUSTEES' REMUNERATION AND BENEFITS - continued

Trustees' expenses

During the year travel expenses were paid on behalf of two board members totalling £76 (2021: £126). These expenses were all in line with their duties as Trustees and were paid at the market rate.

9. STAFF COSTS

STAFF COSTS
Wages and salaries
Social security costs
Other pension costs		 2022
£
235,902
11,003
4,671
251,576		 2021
£
233,557
12,796
3,837
250,190

Included above are donated costs amounting to £80,453 (2021: £80,453) relating to the salary and on-costs of the Chief Executive Officer Dr C Watson by the University of Lincoln.

The average monthly number of employees during the year was as follows:

Finance
Other		 2022
1
6
7		 2021
1
6
7

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

2022 2021
£80,001 - £90,000 1 1

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Media Archive of Central England Limited (A Company Limited by Guarantee)

Notes to the Financial Statements - continued

for the year ended 31 March 2022

10. TANGIBLE FIXED ASSETS

COST
At 1 April 2021
Additions
At 31 March 2022
DEPRECIATION
At 1 April 2021
Charge for year
At 31 March 2022
NET BOOK VALUE
At 31 March 2022
At 31 March 2021
11.
STOCKS
Stocks
12.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Prepayments and accrued income		 2022
£
2,140
2022
£
19,279
4,810
24,089		 Computer
equipment
£
387,672
590
388,262
316,631
20,585
337,216
51,046
71,041
2021
£
2,368
2021
£
50,210
5,662
55,872

Page 19

continued...

Media Archive of Central England Limited (A Company Limited by Guarantee)

Notes to the Financial Statements - continued for the year ended 31 March 2022

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors
Social security and other taxes
VAT
Other creditors
Accruals and deferred income
MOVEMENT IN FUNDS
Unrestricted funds
General fund
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
TOTAL FUNDS		 At 1.4.21
£
238,981
238,981

Incoming
resources
£
408,060
408,060		 2022
2021
£
£
20,737
13,621
968
5,268
1,715
11,063
-
22
3,770
3,805
27,190
33,779
Net
movement
At
in funds
31.3.22
£
£
2,069
241,050
2,069
241,050
Resources
Movement
expended
in funds
£
£
(405,991)
2,069
(405,991)
2,069

14. MOVEMENT IN FUNDS

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continued...

Media Archive of Central England Limited (A Company Limited by Guarantee)

Notes to the Financial Statements - continued for the year ended 31 March 2022

14. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net Transfers
movement between At
At 1.4.20 in funds funds 31.3.21
£ £ £ £
Unrestricted funds
General fund 112,120 86,184 40,677 238,981
Restricted funds
Strength in Numbers/Revitalising the
Region 40,677 - (40,677) -
TOTAL FUNDS 152,797 86,184 - 238,981
Comparative net movement in funds, included in the above are as follows:
Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 471,949 (385,765) 86,184
TOTAL FUNDS 471,949 (385,765) 86,184
A current year 12 months and prior year 12 months combined position is as follows:
Net Transfers
movement between At
At 1.4.20 in funds funds 31.3.22
£ £ £ £
Unrestricted funds
General fund 112,120 88,253 40,677 241,050
Restricted funds
Strength in Numbers/Revitalising the
Region 40,677 - (40,677) -
TOTAL FUNDS 152,797 88,253 - 241,050

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continued...

Media Archive of Central England Limited (A Company Limited by Guarantee)

Notes to the Financial Statements - continued for the year ended 31 March 2022

14. MOVEMENT IN FUNDS - continued

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

Unrestricted funds
General fund
TOTAL FUNDS		 Incoming
resources
£
880,009
880,009		 Resources
Movement
expended
in funds
£
£
(791,756)
88,253
(791,756)
88,253

15. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2022 and the previous year ended 31 March 2021.

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