# **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** 

- Deliver strategic leadership for screen heritage across the Midlands' regions. 

- Sustain and develop a unique, significant and representative regional screen heritage collection. 

- Drive and enhance access to reach existing, new and diverse audiences. 

- Celebrate and promote diversity across our work and collections. 

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: 

- To continue to develop and deliver a regional public film archive service offer for the East and West Midlands and to enhance the preservation of and access to a regionally representative collection. 

- Further consolidation and development of the partnership with the University of Lincoln, including delivery of accredited work placements and internships, student and academic engagement with the archive and opportunities for collaboration. 

- To build the sustainability of MACE, identify funding gaps and new income streams and submit funding bids as required. 

- To continue to develop practice and infrastructure in relation to digital preservation and access and to seek opportunities that will support further review and development in this area. 

- To participate in the BFI-led national screen heritage partnership project, Heritage 2022, focused on videotape preservation and to select significant, at-risk material for digitisation. 

- To work closely with film, cultural and heritage sector partners to facilitate screen heritage outreach, access and screening activities, and to increase our reach with new and diverse audiences particularly across the Midlands. 

- To continue to develop a successful working relationship with BFI, the BFI Film Audience Network (regional Film Hubs) and other BFI partners, such as IntoFilm, and to contribute to the delivery of its 2022 Strategy and Heritage 22 programme where appropriate. 

- To explore collaborative opportunities with colleagues across the film, cultural and heritage sectors, particularly in the areas of digital preservation and access, in order to contribute to the sustainability of MACE and the film archive sector more broadly. 

- To contribute to regional archive networks nationally and across the East and West Midlands regions, including Chairing the Film Archives UK network, supporting the Archives Connected East Midlands network and acting as Trustee for Archives West Midlands. 

## **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<br>fund<br>Notes<br>£<br>**INCOME AND ENDOWMENTS FROM**<br>Donations and legacies<br>2<br>264,551<br>**Charitable activities**<br>Conservation and preservation of media<br>archive<br>143,360<br>Investment income<br>3<br>102<br>Other income<br>47<br>**Total**<br>408,060<br>**EXPENDITURE ON**<br>Raising funds<br>5<br>251,827<br>**Charitable activities**<br>Conservation and preservation of media<br>archive<br>154,164<br>**Total**<br>405,991<br>**NET INCOME**<br>2,069<br>**RECONCILIATION OF FUNDS**<br>Total funds brought forward<br>238,981<br>**TOTAL FUNDS CARRIED FORWARD**<br>241,050|Restricted<br>funds<br>£<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-|2022<br>Total<br>funds<br>£<br>264,551<br>143,360<br>102<br>47<br>408,060<br>251,827<br>154,164<br>405,991<br>2,069<br>238,981<br>241,050|2021<br>Total<br>funds<br>£<br>373,037<br>98,721<br>59<br>132|
|---|---|---|---|
||||471,949|
||||250,387<br>135,378|
||||385,765|
||||86,184<br>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<br>fund<br>Notes<br>£<br>**FIXED ASSETS**<br>Tangible assets<br>10<br>51,046<br>**CURRENT ASSETS**<br>Stocks<br>11<br>2,140<br>Debtors<br>12<br>24,089<br>Cash at bank and in hand<br>190,965<br>217,194<br>**CREDITORS**<br>Amounts falling due within one year<br>13<br>(27,190)<br>**NET CURRENT ASSETS**<br>190,004<br>**TOTAL ASSETS LESS CURRENT**<br>**LIABILITIES**<br>241,050<br>**NET ASSETS**<br>241,050<br>**FUNDS**<br>14<br>Unrestricted funds<br>**TOTAL FUNDS**|Restricted<br>funds<br>£<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-|2022<br>Total<br>funds<br>£<br>51,046<br>2,140<br>24,089<br>190,965<br>217,194<br>(27,190)<br>190,004<br>241,050<br>241,050<br>241,050<br>241,050|2021<br>Total<br>funds<br>£<br>71,041<br>2,368<br>55,872<br>143,479<br>201,719<br>(33,779)<br>167,940<br>238,981<br>238,981<br>238,981<br>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 

- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and 

- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. 

The notes form part of these financial statements 

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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 

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## **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 

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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** 

## **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. 

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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** 

## **2. DONATIONS AND LEGACIES** 

|**DONATIONS AND LEGACIES**|||
|---|---|---|
|Donations<br>Grants|2022<br>£<br>160,663<br>103,888<br>264,551|2021<br>£<br>159,356<br>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<br>Heritage Lottery Fund<br>The National Archives<br>**3.**<br>**INVESTMENT INCOME**<br>Deposit account interest<br>**4.**<br>**INCOME FROM CHARITABLE ACTIVITIES**<br>Activity<br>Income from sale of<br>Conservation and preservation of media<br>resources<br>archive|2022<br>£<br>101,524<br>-<br>2,364<br>103,888<br>2022<br>£<br>102<br>2022<br>£<br>143,360|2021<br>£<br>150,781<br>47,900<br>15,000|2021<br>£<br>150,781<br>47,900<br>15,000|
|---|---|---|---|
|||213,681||
|||2021<br>£<br>59<br>2021<br>£<br>98,721|2021<br>£<br>59|



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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** 

## **5. RAISING FUNDS** 

## **Other trading activities** 

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



## **6. SUPPORT COSTS** 

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

## **Management** 

|2022<br>Conservation<br>and<br>preservation<br>of media<br>archive<br>£<br>Insurance<br>2,536<br>Light and heat<br>12,000<br>Telephone<br>1,658<br>Motor and travelling<br>573<br>Communication and IT<br>10,679<br>Other office costs<br>70,993<br>Other costs<br>13,796<br>Depreciation<br>20,586<br>132,821|2021<br>Total<br>activities<br>£<br>2,559<br>10,000<br>1,050<br>345<br>11,809<br>63,964<br>5,961<br>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<br>Conservation<br>and<br>preservation<br>of media<br>archive<br>£<br>Bank charges<br>700<br>**Governance costs**<br>2022<br>Conservation<br>and<br>preservation<br>of media<br>archive<br>£<br>Independent examiner fee<br>2,565<br>Professional fees<br>18,078<br>20,643<br>**NET INCOME/(EXPENDITURE)**<br>Net income/(expenditure) is stated after charging/(crediting):<br>2022<br>£<br>Depreciation - owned assets<br>20,585|2021<br>Total<br>activities<br>£<br>598<br>2021<br>Total<br>activities<br>£<br>2,613<br>18,393<br>21,006<br>2021<br>£<br>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<br>Social security costs<br>Other pension costs|2022<br>£<br>235,902<br>11,003<br>4,671<br>251,576|2021<br>£<br>233,557<br>12,796<br>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<br>Other|2022<br>1<br>6<br>7|2021<br>1<br>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**<br>At 1 April 2021<br>Additions<br>At 31 March 2022<br>**DEPRECIATION**<br>At 1 April 2021<br>Charge for year<br>At 31 March 2022<br>**NET BOOK VALUE**<br>At 31 March 2022<br>At 31 March 2021<br>**11.**<br>**STOCKS**<br>Stocks<br>**12.**<br>**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**<br>Trade debtors<br>Prepayments and accrued income|2022<br>£<br>2,140<br>2022<br>£<br>19,279<br>4,810<br>24,089|Computer<br>equipment<br>£<br>387,672<br>590<br>388,262<br>316,631<br>20,585<br>337,216<br>51,046<br>71,041<br>2021<br>£<br>2,368<br>2021<br>£<br>50,210<br>5,662<br>55,872|
|---|---|---|
||||
||||
||||



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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** 

## **13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** 

|Trade creditors<br>Social security and other taxes<br>VAT<br>Other creditors<br>Accruals and deferred income<br>**MOVEMENT IN FUNDS**<br>**Unrestricted funds**<br>General fund<br>**TOTAL FUNDS**<br>Net movement in funds, included in the above are as follows:<br>**Unrestricted funds**<br>General fund<br>**TOTAL FUNDS**|At 1.4.21<br>£<br>238,981<br>238,981<br> <br>Incoming<br>resources<br>£<br>408,060<br>408,060|2022<br>2021<br>£<br>£<br>20,737<br>13,621<br>968<br>5,268<br>1,715<br>11,063<br>-<br>22<br>3,770<br>3,805<br>27,190<br>33,779<br>Net<br>movement<br>At<br>in funds<br>31.3.22<br>£<br>£<br>2,069<br>241,050<br>2,069<br>241,050<br>Resources<br>Movement<br>expended<br>in funds<br>£<br>£<br>(405,991)<br>2,069<br>(405,991)<br>2,069|
|---|---|---|



## **14. MOVEMENT IN FUNDS** 

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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** 

## **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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## **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**<br>General fund<br>**TOTAL FUNDS**|Incoming<br>resources<br>£<br>880,009<br>880,009|Resources<br>Movement<br>expended<br>in funds<br>£<br>£<br>(791,756)<br>88,253<br>(791,756)<br>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. 

Page 22