Charity Registration No. 1107649
Company Registration No. 05053960 (England and Wales)
MOVIOLA LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
MOVIOLA LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | B Clay |
|---|---|
| H Owers | |
| P Comer | |
| C Dixon | |
| J Buckley | |
| D Gent | |
| Secretary | C Walkley |
| Charity number | 1107649 |
| Company number | 05053960 |
| Registered office | Spring Cottage |
| Queen Street | |
| YETMINSTER | |
| Dorset | |
| DT9 6LL | |
| Independent examiner | Rachel Wills, FCA |
| Old Mill Accountancy Limited | |
| Unit 2 | |
| Greenways Business Park | |
| Bellinger Close | |
| CHIPPENHAM | |
| Wiltshire | |
| England | |
| SN15 1BN | |
| Bankers | National Westminster Bank Plc |
| 2 North Street | |
| WAREHAM | |
| Dorset | |
| BH20 4AL |
MOVIOLA LIMITED
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 5 |
| Independent examiner's report | 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 - 9 |
| Notes to the financial statements | 10 - 19 |
MOVIOLA LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 MARCH 2021
The trustees present their report and financial statements for the year ended 31 March 2021.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 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 (FRS 102) (effective 1 January 2019)".
Objectives and activities
The charity's objects are to promote, maintain, improve and advance education within the community at large and particularly in the rural areas of the United Kingdom, by the promotion and exhibition of cinematography and films of all genres, including the provision of consultancy services in the performance of film to other individuals and organisations in the United Kingdom. T here has been no change in these during the year.
The charity is a public benefit entity and t he trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake for the public benefit .
The Moviola network consists of two types of client: Partners for whom Moviola provides a full cinema service (booking, licensing and film presentation) and Associates for whom Moviola books and licenses films and supplies discs.
In fulfilment of the Company and Charity’s objectives, and within these restrictions, the Partner programme delivered 1 show (307 the previous year) to 1 rural venue and to an audience of 43 people. In 2020-21 we enabled 93 associate shows (2155 previous year) in 46 venues across the UK, to a total audience of 1,803 (92,756 the previous year). The significant reduction in the number of shows held during the year was due to the impact and restrictions of Coronavirus, and it is projected that these numbers will begin to increase next year as restrictions ease.
The BFI grant, originally awarded for 2018-20, was extended into 2020-21 and made provision to deliver three more seasons of Moviola Cinematheque, an initiative whereby venues are given a financial incentive to diversify their programme by showing less mainstream titles, including subtitled foreign language films and classics. However due to the restrictions, only 5 Cinematheque shows took place.
It also allowed Moviola to host in February, five on line Champion Sessions where specialists in various areas important to the sustainability of Community Cinema were able to talk at on line forums to which all Partners were invited.
As a result of not being able to use all the BFI cash allocated to supporting the Cinematheque discounts and other initiatives, the BFI permitted Moviola to allocate the unspent money to core activities.
The Communications & Diversity Officer left the Company in February of 2021. This was a great loss to both Moviola and its network of Partners. The role will be reinstated once Moviola is again financially able to support it.
Financial review
Partners' fee income decreased by £ 44,181 to £ 208 (20 20 : £ 44,389 ) , associates' fee income decreased by £ 82,385 to £ 3,853 (20 20 : £ 86,238 ) and film hire income decreased by £156,359 to £3,016 (2020: £159,375) . Total income for the year was £ 86,284 (20 20 : £ 320,183 ).
Costs of the Moviola service, including associated staff costs, have decreased by £170,298 to £23,164 (20 20 : £ 193,462 ) with total resources expended of £154,149 (20 20 : £ 326,091) .
There were net unrestricted outgo ing resources for the year , before transfers, of £67,865 (20 20 : £ 5,908 ).
Fund balances at the year end amounted to £67,755 (20 20 : £ 135,620 ) of which £ 2,260 was designated (20 20 : £ 3,231 ).
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MOVIOLA LIMITED
TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 MARCH 2021
Excluding the Moviola service costs, the reserves represent approximately 6 months overhead expenditure . At the beginning of the year Moviola held reserves of approximately 12 months , this had reduced from 14 months the previous year due to the effect of the pandemic in the last quarter of 2019-20. It is considered prudent to hold these reserves to cover any unexpected falls in income.
From the beginning of the financial year, due to Coronavirus, the unexpected fall in income became reality when Moviola shows stopped and therefore income ceased. Moviola shows were only permitted to resume between September and December with the number of shows during that period much reduced owing to social distancing effects on audience numbers.
Once again the shows stopped during the final three months of the financial year 2020-21. In fact, shows did not resume until May 2021 and then at a reduced rate. It is hoped that business will return to near normal from September 2021 onwards.
Normally Moviola can guarantee to the Partners a film hire cost of 35% with no minimum guarantee due to the high volume of bookings for each title on the Moviola menu. This way film hire costs to the distributors are always covered by film hire payments from the partners. However for the few bookings from September in some cases the distributors´ minimum guarantee came into play which was not covered by income from Partners. So for the first time Moviola made a loss on film hire.
During the financial year government support allowed four presenters and four staff to be furloughed for varying periods providing up to 80% of their salaries to offset the salary costs to the Company.
While clearly the reserves continue to be reduced, the board will review the policy towards the end of 2021 once the performance from September onwards has become clearer.
Plans for future
During the Financial year 2020-21 and up until at least September 2021 the (totally justified) measures to combat the Covid-19 pandemic severely impacted Moviola´s income and indeed its financial reserves. This impact was caused a) by the fact that for many months community cinemas were unable to open at all, during which time the core income to Moviola was zero. And b) because, during the months cinemas were permitted to open, social distancing measures meant audiences were much reduced - and some cinemas decided not to open at all because the reduced audiences made a show financially unviable. Moviola´s income depends not only on the fee it charges, but also on the box office takings (audience.) Hence even during times of permitted opening the income to Moviola continued to be greatly reduced.
During the year, necessary expenditure of course continued to be administrative costs and salaries.
For all these reasons the cash reserves, which started the year with net current assets of approximately £128,000 were further reduced by £66,500.
During the year the Company received financial support from the BFI of £29,300. The majority of this was reimbursement for costs incurred in the Communications and Development project, however approximately £4,650 was to support office costs and overheads. And very importantly, the government furlough support scheme during the year and up until September 2021 has allowed Moviola to retain on furlough four part time presenters, who would otherwise have had no work, and to retain on furlough one part time employee for whom there has been no work. The furlough scheme has also permitted three of the remaining four employees to be maintained on their salaries while being on part time furlough.
While all staff have been relieved to be able to continue to have an income, the lack of “things to do” has dampened morale.
Similarly feedback from the Partners is that they are missing the shows and keen to get started again. This is in fact a positive omen for the future once lockdown and social distancing have been lifted.
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MOVIOLA LIMITED
TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 MARCH 2021
Two cost cutting exercises have been implemented and several others have become apparent as possible. To date, Moviola has designed and provided advertising posters for its Partners. This requires a heavy duty and costly photocopier in the office. It has now been decided Moviola will continue to design these posters but a pdf will be sent to the Partners who will be responsible themselves for the printing. Consequently Moviola has terminated the contract for the printer with an annual saving of more than £2,500.
By necessity, all trustee and other meetings have been held on line (Zoom). The side effect of this has been zero costs for board & officer travel and zero costs for sustenance at meetings. Since the Zoom meetings have proved perfectly adequate, this will be used much more in the future as a way of meeting and as a way of minimising costs.
Similarly a series of “Champion Session” meetings held with the Partners in February, on line and using Zoom, proved a success. Although a technician was paid to record these sessions, it has proved Zoom is a good way to have partner meetings that will be totally free and will be implemented regularly in the future.
Moviola´s highly valued Communications & Diversity Officer left the company in February. This was a great loss to Moviola and its Partners, but in the short term has helped control staff costs. Because the role and the incumbent have proved valuable, the role will be replaced in the future once the Company is financially able to support it.
Otherwise things will continue for Moviola as normal: early audience numbers from the May-August 2021 shows have proved higher than anticipated, and so it is fully expected that after September 2021 audiences and shows will return to near normal and Moviola will once again be able to build up its severely depleted reserves.
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Structure, governance and management
The company is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 24 February 2004 (as amended by special resolution on 20 April 2009). The company was registered as a charity on 17 January 2005 and is a registered charity number 1107649.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
B Clay
H Owers
P Comer
C Dixon J Buckley D Gent
The management of the company is the responsibility of the trustees who are elected and co-opted under the terms of the Articles of Association.
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 0 in the event of a winding up.
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MOVIOLA LIMITED
TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 MARCH 2021
The directors as charity trustees control the company. There must be no less than three and not more than ten directors, all of whom must be members.
Although the articles of the company allow for a wider membership at present the only members of the company are the directors of the company.
One third (or the number nearest to one third) of the directors must retire at each annual general meeting, those longest in office retiring first.
The directors may at any time co-opt any individual as a director to fill a vacancy but a co-opted director holds office only until the next annual general meeting. The members at the annual general meeting approve the appointment of directors or make their own appointments.
The directors must hold at least four meetings each year at which one third attending or two, whichever is the greater, represents a quorum. The directors have established procedures at meetings to ensure that potential conflicts of interest are highlighted at the start of meetings and where necessary interested parties are required to withdraw from the meeting.
Statement of trustees' responsibilities
The trustees, who are also the directors of Moviola Limited for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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MOVIOLA LIMITED
TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 MARCH 2021
The trustees' r eport was approved by the Board of Trustees.
B Clay Trustee Dated: 22 November 2021
P Comer Trustee Dated:22 November 2021
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MOVIOLA LIMITED
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF MOVIOLA LIMITED
I report on the financial statements of the charity for the year ended 31 March 2021, which are set out on pages 7 to 19.
Respective responsibilities of trustees and examiner
The charity’s trustees, who are also the directors of Moviola Limited for the purposes of company law, are responsible for the preparation of the financial statements. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
Having satisfied myself that the charity is not subject to audit under Part 16 of the Companies Act 2006 and is eligible for independent examination, it is my responsibility to:
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(i) examine the financial statements under section 145 of the 2011 Act;
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(ii) to follow the procedures laid down in the general Directions given by the Charity Commission under section 145 (5)(b) of the 2011 Act; and
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(iii) to state whether particular matters have come to my attention.
Basis of independent examiner's report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the financial statements present a ‘true and fair view’ and the report is limited to those matters set out in the next statement.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
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(a) which gives me reasonable cause to believe that in any material respect the requirements:
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(i) to keep accounting records in accordance with section 386 of the Companies Act 2006; and
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(ii) to prepare financial statements which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities;
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have not been met or
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(b) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
Rachel Wills, FCA
Old Mill Accountancy Limited Unit 2 Greenways Business Park Bellinger Close CHIPPENHAM Wiltshire SN15 1BN England
Dated: 29 December 2021
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MOVIOLA LIMITED
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2021
| Unrestricted Restricted funds funds 2021 2021 Notes £ £ Income and endowments from: Donations and legacies 2 49,448 29,300 Charitable activities 3 7,077 - Investments 4 130 - Other income 5 329 - Total income 56,984 29,300 Expenditure on: Charitable activities 6 124,849 29,300 Net expenditure for the year/ Net movement in funds (67,865) - Fund balances at 1 April 2020 135,620 - Fund balances at 31 March 2021 67,755 - |
Total 2021 £ 78,748 7,077 130 329 86,284 154,149 (67,865) 135,620 67,755 |
Total 2020 £ 23,010 290,002 401 6,770 320,183 326,091 (5,908) 141,528 135,620 |
|---|---|---|
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
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MOVIOLA LIMITED
BALANCE SHEET
AS AT 31 MARCH 2021
| Notes Fixed assets Tangible assets 11 Current assets Debtors 12 Cash at bank and in hand Creditors: amounts falling due within one year 13 Net current assets Total assets less current liabilities Income funds Unrestricted funds Designated funds 15 General unrestricted funds 15 |
2021 £ 15,279 52,708 67,987 (6,134) 2,260 65,495 |
£ 5,902 61,853 67,755 67,755 67,755 |
2020 £ 10,456 145,947 156,403 (28,061) 3,231 132,389 |
£ 7,278 128,342 135,620 135,620 135,620 |
|---|---|---|---|---|
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MOVIOLA LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2021
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2021.
The trustees acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the 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 company.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Trustees on 22 December 2021
| B Clay | P Comer |
|---|---|
| Trustee | Trustee |
Company Registration No. 05053960
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MOVIOLA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
1 Accounting policies
Company information
Moviola Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Spring Cottage, Queen Street, YETMINSTER, Dorset, DT9 6LL.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 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 (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling , which is the functional currency of the charity . Monetary a mounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
In light of the current coronavirus pandemic, the directors have reviewed likely future developments and remain of the opinion that there is no reason to believe that the charity will have to cease operating as a result of inadequate financial resources, or any other foreseeable event, within a period of at least 12 months from the date of the approval of these accounts.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Designated funds comprise funds which have been set aside at the discretion of the trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements .
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
1.4 Incoming resources
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Grants and donations subject to the specific wishes of the donor are credited to relevant restricted funds.
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MOVIOLA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
1 Accounting policies
(Continued)
1.5 Resources expended
Expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of the resources.
Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Governance costs are those incurred in connection with administration of the company and compliance with constitutional and statutory requirements.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
All assets costing more than £500 are capitalised.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.
1.7 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity 's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
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MOVIOLA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
1 Accounting policies
(Continued)
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity ’s contractual obligations expire or are discharged or cancelled.
1.8 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.9 Company status
The company is a company limited by guarantee. The members of the company are the trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £10 per member of the company.
1.10 Government grants
Government grants are recognised at the fair value of the asset receive d or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
Government grants relating to turnover are recognised as income over the periods when the related costs are incurred . Grants relating to an asset are recognised in income systematically over the asset's expected useful life. If part of such a grant is deferred it is recognised as deferred income rather than being deducted from the asset's carrying amount.
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MOVIOLA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
| 2 Donations and legacies Unrestricted Restricted 2021 2021 £ £ Donations and gifts 500 - Grants receivable - 29,300 Government grants 48,948 - 49,448 29,300 For the year ended 31 March 2020 - 23,010 3 Charitable activities Partners' fees Associates' fees Film hire income 4 Investments Interest receivable 5 Other income Postage recovered from partners Poster sales |
Total 2021 £ 500 29,300 48,948 78,748 2021 £ 208 3,853 3,016 7,077 2021 £ 130 2021 £ 329 - 329 |
Total 2020 £ - 23,010 - |
|---|---|---|
| 23,010 | ||
| 23,010 | ||
| 2020 £ 44,389 86,238 159,375 |
||
| 290,002 | ||
| 2020 £ 401 |
||
| 2020 £ 6,755 15 |
||
| 6,770 |
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MOVIOLA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
6 Charitable activities
| Staff costs Depreciation and impairment Film hire Presenters' mileage Postage Stationery and consumables Office expenses Insurance Bank charges and interest Telephone Subscriptions Employees' expenses Accountancy fees Professional fees (Profit)/loss on disposal of fixed assets Website & forum maintenance Board development, administration and expenses Grant funding of activities (see note 7) Share of governance costs (see note 8) Analysis by fund Unrestricted funds Restricted funds |
2021 £ 123,308 1,843 6,437 272 596 - 3,526 1,629 527 1,078 1,549 130 2,850 995 277 6,000 2,032 153,049 - 1,100 154,149 124,849 29,300 154,149 |
2020 £ 127,707 2,236 156,501 9,204 7,299 1,663 4,346 1,565 1,595 890 1,427 2,323 2,850 1,310 - - 3,475 |
|---|---|---|
| 324,391 600 1,100 |
||
| 326,091 | ||
| 303,081 23,010 |
||
| 326,091 |
Staff costs include £15,859 (2020: £20,458) relating to presenters' salaries and social security costs.
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MOVIOLA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
7 Grants payable
| Grants to individuals Support costs Support costs Governance costs £ £ Independent Examiner's Fees - 1,100 - 1,100 Analysed between Charitable activities - 1,100 |
2021 £ - - 2021 £ 1,100 1,100 1,100 |
2020 £ 600 |
|---|---|---|
| 600 | ||
| 2020 £ 1,100 |
||
| 1,100 | ||
| 1,100 |
8 Support costs
Charitable expenditure includes payments to the independent examiner of £ 2,850 (2020:£2,850 ) for accountancy services.
9 Trustees
None of the trustees (or any persons connected with them) received any remuneration during the year, and none of them were reimbursed travel expenses (2020: 5 were reimbursed £ 661 ).
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MOVIOLA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
10 Employees
Number of employees
The average monthly number of employees during the year was:
| Presenters Other Staff Employment costs Wages and salaries Social security costs Other pension costs |
2021 Number 4 5 9 2021 £ 114,507 7,962 839 123,308 |
2020 Number 4 5 9 2020 £ 118,384 8,407 916 127,707 |
|---|---|---|
There were no employees whose annual remuneration was £60,000 or more.
11 Tangible fixed assets
| Tangible fixed assets | |
|---|---|
| Plant and machinery | |
| £ | |
| Cost | |
| At 1 April 2020 | 46,629 |
| Additions | 745 |
| Disposals | (878) |
| At 31 March 2021 | 46,496 |
| Depreciation and impairment | |
| At 1 April 2020 | 39,351 |
| Depreciation charged in the year | 1,843 |
| Eliminated in respect of disposals | (600) |
| At 31 March 2021 | 40,594 |
| Carrying amount | |
| At 31 March 2021 | 5,902 |
| At 31 March 2020 | 7,278 |
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MOVIOLA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
| 12 Debtors Amounts falling due within one year: Trade debtors Other debtors Prepayments and accrued income 13 Creditors: amounts falling due within one year Other taxation and social security Trade creditors Accruals and deferred income |
2021 £ 130 14,032 1,117 15,279 2021 £ 1,568 - 4,566 6,134 |
2020 £ 4,118 5,134 1,204 |
|---|---|---|
| 10,456 | ||
| 2020 £ 8,753 2,686 16,622 |
||
| 28,061 |
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MOVIOLA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
14 Restricted funds
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
| Movement in funds | Movement in funds | ||||
|---|---|---|---|---|---|
| Balance at 1 | Incoming | Resources | Transfers | Balance at 31 | |
| April 2020 | resources | expended | in/out | March 2021 | |
| £ | £ | £ | £ | £ | |
| BFI Grant | - | 29,300 | (29,300) | - | - |
| - | 29,300 | (29,300) | - | - | |
| Prior Year | Movement in funds | ||||
| Balance at 1 | Incoming | Resources | Transfers | Balance at 31 | |
| April 2019 | resources | expended | in/out | March 2020 | |
| £ | £ | £ | £ | £ | |
| BFI Grant | - | 23,010 | (23,010) | - | - |
| - | 23,010 | (23,010) | - | - |
The BFI awarded Moviola a Grant of up to £100,650 over the two years 2018/2019 and 2019/2020. This money was to allow the Company to undertake the “Communications & Diversity Project” with a view to making community cinema more sustainable in the long run. The majority of the cash was to reimburse Moviola´s expenses in running the project, although there is a contribution towards overheads. Unspent monies from the two year grant were extended into 2020-21 when a further £29,300 was paid to Moviola: £24,647 towards costs associated with the project and £4,653 towards office costs and overheads.
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MOVIOLA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
15 Unrestricted funds
The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:
| Movement in funds | Movement in funds | ||||
|---|---|---|---|---|---|
| Balance at 1 | Incoming | Resources | Transfers | Balance at 31 |
|
| April 2020 | resources | Expended | in/out | March 2021 |
|
| £ | £ | £ | £ | £ |
|
| Designated Funds | |||||
| Management and Services Delivery Fund | 3,231 | - | (971) | - | 2,260 |
| General funds | 132,389 | 56,984 | (123,878) | - | 65,495 |
| Total unrestricted funds | 135,620 | 56,984 | (124,849) | - | 67,755 |
| Prior Year | Movement in funds | ||||
| Balance at 1 | Incoming | Resources | Transfers | Balance at 31 |
|
| April 2019 | resources | Expended | in/out | March 2020 |
|
| £ | £ | £ | £ | £ |
|
| Designated Funds | |||||
| Management and Services Delivery Fund | 11,329 | - | (8,098) | - | 3,231 |
| General funds | 130,199 | 297,173 | (294,983) | - | 132,389 |
| Total unrestricted funds | 141,528 | 297,173 | (303,081) | - | 135,620 |
Management and Services Delivery Fund - During 2013 a grant was received from the Monument Trust. The directors designated the funds in support of a range of activities to develop the management and service delivery of the organisation.
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