**REGISTERED COMPANY NUMBER: 05626997 (England and Wales) REGISTERED CHARITY NUMBER: 1113259** 

**Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 December 2023 for Saffron Walden Community Cinema Limited Trading as Saffron Screen** 



**Saffron Walden Community Cinema Limited** 

**Contents of the Financial Statements for the Year Ended 31 December 2023** 

||Page|
|---|---|
|Report of the Trustees|1 to 6|
|Independent Examiner's Report|7|
|Statement of Financial Activities|8|
|Balance Sheet|9 to 10|
|Notes to the Financial Statements|11 to 17|
|Detailed Statement of Financial Activities|18 to 19|





## **Saffron Walden Community Cinema Limited** 

## **Report of the Trustees for the Year Ended 31 December 2023** 

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 December 2023. 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** 

Saffron Screen is an independent community cinema screening a wide range of films and events, seeking through cinema to entertain, educate and create a shared experience to improve the quality of life for everyone in Saffron Walden and the surrounding areas. 

The Charity's objects are: 

- to advance the education of the public in the knowledge, understanding and appreciation of the arts, particularly the art of films and allied visual techniques; 

- to advance the education of pupils at Saffron Walden County High School ("SWCHS") by providing and assisting in the provision of facilities for education at the school; and 

- to promote for the benefit of the inhabitants of Saffron Walden and the surrounding areas the provision of recreational and other leisure time facilities in the interest of social welfare and with the object of improving their conditions of life.. 

## **Significant activities** 

The primary activity is the provision of cinema screenings at the cinema auditorium in Saffron Walden (located in the Saffron Walden County High School). Saffron Screen offers between six and eight screenings each week from Friday night to Monday night as well as extra screenings during the school holidays and Arts on Screen screenings, which are often midweek.  From 2019 Saffron Screen also managed the cinema in Royston, Royston Picture Palace (RPP), which offered a similar range screenings although fewer, with screenings being predominantly at weekends. 

At the end of the current year we ended our contract with Royston Town Council (RTC) to operate RPP having given the required notice period to finish screenings in October.  A financial agreement was then made with RTC to continue until the end of the year. It was not a decision taken lightly, but the financial position of RPP was poor with small audiences.  This was having a negative impact on the finances of Saffron Screen.  At the time of this report RTC had not found anyone else to take on the running of RPP. 

As in previous years we continued to show a range of films including mainstream blockbusters, the Oscar contenders, children's, art-house and foreign language films, documentaries and archive material. Saffron Screen also aims to enhance the cinema experience by offering guest speakers, hosted discussions and other events (e.g. talks and workshops). In addition, our Arts on Screen strand provides live and encore screenings of plays, operas, ballets, art exhibitions and concerts broadcast from their venues to the cinema by satellite. We restarted our "Pop-up" screenings using the Saffron Walden Town Hall as a venue and we are grateful to the Town Council for providing the premises free of charge.  It is our intention to do further of these at the Town Hall and other venues in 2024.  Our series of film courses for the local residents and students at SWCHS has been planned for 2024. 

The Trustees are grateful to SWCHS and Saffron Hall for their support and co-operation over shared use of the school premises, and to the Saffron Walden Tourist Information Centre for their hard work and support selling tickets for Saffron Screen.  Further, we are also grateful for the support of the Royston Town Council and, in particular, the staff at the Town Hall for providing the box office functions during the week. 

The aftermath of the COVID-19 has still been with us with reduced audience numbers compared to 2019. In addition, there have been industry strikes in the USA with actors and writers being on strike from May until November.  This year that has caused many films to have their release date moved to 2024 or later and will have an impact on other releases planned for 2024.  Despite this there were a few exceptional releases with Wonka, Oppenheimer, and Barbie being the standout films.  We also continued to do well with Arts on Screen material and had a sellout audience for an unusual live Q&A with Steve Parrish based around his life story as a former professional motorcycle and truck racer. 

Average attendances at Saffron Screen were higher than 2022 at 62 (59) (and at Royston Picture Palace just under 40).  We are continuing to fall below our breakeven point and therefore looked for ways to reduce our costs and seek alternative sources of income.  The Business Manager left Saffron Screen at the end of August and this prompted a re-organisation of the Management Team, saving some salary costs.  In addition, we recruited a new director/trustee specifically to look at fundraising.  This resulted in a campaign to raise money through donations and by the end of the year we raised over £50,000.  Additionally, we changed our 

Page 1 



## **Saffron Walden Community Cinema Limited** 

## **Report of the Trustees** 

## **for the Year Ended 31 December 2023** 

## **Significant activities (cont…)** 

programming provider to Four Seasons Entertainment which has had two benefits; a much reduced monthly charge; and an improved selection of films including showing some films on or near their release date resulting in improved audience numbers. We launched new gift cards in time for the Christmas period (both physical and online) and these proved to be very popular.  Our gift aid tickets also continue to sell well and provide a welcome extra source of income.  We would like to thank all our customers who buy these tickets at the slightly higher prices. 

## **OBJECTIVES AND ACTIVITIES** 

## **Public benefit** 

Charity Trustees have a duty to report in the Trustees’ Annual Report on the Charity’s public benefit. They should demonstrate that they are clear about the benefits that are generated by the activities of the Charity. The Charity Commission guidance on public benefit in Section 4 of the Charities Act 2011 has been noted in preparing this Annual Report. 

Saffron Screen welcomes audiences from all backgrounds. We are committed to serving the whole community by providing a wide range of films and other events at reasonable prices, including a range of concession tickets. We continue to offer concession tickets at reduced rates to allow various groups local access to national and international opera, theatre, ballet and exhibitions and discounted tickets on all films. For customers with disabilities we provide audio description for partially sighted/blind customers, and individual hearing loops for those with hearing difficulties. Saffron Screen continues its commitment to social responsibility through special screenings for those living with autism and dementia, the latter being financially supported by Saffron Walden Dementia Action Alliance. We continue to consider and respond to all feedback from our audience, whether positive or negative, and to look for ways to improve our offering. 

## **ACHIEVEMENT AND PERFORMANCE** 

## **Charitable activities** 

The objectives of the charity at the start of 2023 were: 

- to continue to provide an exciting and varied programme of films, special events and educational activities; 

- to seek to reach out to new and under-served audiences and to develop our existing audience; 

- to generate core income of £225,000 and generate break even free cash flow per annum to maintain self- sufficiency; 

- to continue good corporate governance by ensuring that all policies, procedures and documentation are up to date; 

- and to consider options for moving or expanding the current operations to serve the growing demand from the local 

- community; 

In 2023, the amount of suitable film and events screened was again limited due to the aftermath of the COVID-19 pandemic and the USA film industry strikes.  We were, however, able to meet most of the above objectives within the limitations imposed. However, it should be noted that we have been unable to generate enough income to break even, and this is a priority for the Trustees to consider going forward into 2024. 

## **Key Performance Indicators:** 

The Trustees set four Key Performance Indicators for the cinema, annual key core income, customer satisfaction, average audience numbers and number of speakers, outreach and education events.  Due to the current situation in the UK Exhibition sector, any figures in these categories are still meaningless. 

We will, however, continue to monitor and review these KPIs in 2024 and put further plans in place to reduce costs and increase revenues whilst still providing a broad range of films and events to improve these figures. 

## **Audience development** 

As with last year, we have had a very limited opportunity to develop our audience in 2023. Audiences have been reluctant to return to cinema in general, but as time progresses, we hope that with improved content we can encourage both our existing customers and new ones to attend screenings at our cinema. 

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## **Saffron Walden Community Cinema Limited** 

## **Report of the Trustees for the Year Ended 31 December 2023** 

## **FINANCIAL REVIEW** 

## **Financial position** 

The Statement of Financial Activity for the year ended 31 December 2023 shows total incoming resources of £338,099 (2022: £281,856) and total resources expended of £336,200 (2022: £357,001) resulting in a net surplus of £1,899 (2022: net deficit £75,145). 

During the financial year to 31 December 2023, operations continued on a reduced level after the COVID-19 pandemic, with audience participation still being impacted by the events of 2020 and 2021. The number of screenings has reduced due to the lower level of content being available to exhibitors, mainly through production delays and streaming alternatives. Overall industry attendance is yet to recover, and the financial position being impacted across all operators. The organisation is reliant upon the operating income it can generate from operational activities rather than grant income. Due to an operational shortfall in income, the charity increased its donation activity and raised significant income from the service users, which has had a hugely positive impact.  We are thankful to the community we serve and have started to put in place operational changes to improve the cinema experience. 

Total resources expended have reduced slightly in the current year with a reorganisation in our Management Team. The Trustees continue to invest in the staff and cinema to attempt to return activity back to pre-COVID-19 levels. With the continued lower attendance numbers, the Trustees are reviewing all costs in the short term to return back to an operational breakeven point in 2024. 

For 2023 the organisation has seen a surplus of £1,899 (2022: net deficit £75,145). The surplus in 2023 is in part due to the increased donations and Gift Aid income received, which the Trustees shall continue to promote in 2024. 

Total funds as at 31 December 2023 were £106,784 (2022: £104,885) with total unrestricted funds of £65,285 (2022: £58,969). Details of the restricted funds can be found in the notes to the financial statements. 

The Trustees recognise the impact that COVID-19 has had on the industry, and are meeting frequently to see the organisation through the next stage of its operations.  In 2024 the charity will continue to monitor its costs and income to ensure a viable and secure future for the cinema. 

## **Reserves policy** 

The Trustees are responsible for maintaining a level of reserves that is appropriate for the charity. The reserves policy is to hold approximately two months of fixed costs (primarily to cover the costs in winding up the operations of the charity), and 50% replacement cost of equipment. In total it is approximately £100,000. The reserve policy was reviewed and updated in 2019. 

## **Going concern** 

During the year, the charity had positive net assets and has cash reserves. The Trustees have no reason to believe that a material uncertainty exists that may cast significant doubt about the ability of the charity to continue as a going concern. Accordingly, the financial statements have been prepared on a going concern basis. 

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## **Saffron Walden Community Cinema Limited** 

## **Report of the Trustees** 

## **for the Year Ended 31 December 2023** 

## **FINANCIAL REVIEW** 

## **Principal risks and uncertainties** 

The cinema industry is still recovering from the effects of the COVID-19 pandemic and the reduced audience numbers. The industry as a whole has the challenge of poor content choice through delayed or cancelled productions, increase in streaming at home offerings and rising costs. It is believed that the industry will continue to recover slowly and find new ways of increasing audience participation. The Trustees are meeting regularly to monitor the ongoing situation and to put in place plans to protect the organisation, its customers and staff. All available funding opportunities will be assessed by the Trustees to ensure the viability of the organisation in the long term. 

The Trustees have identified a number of other key risks which could affect our future performance, the most significant of which are: 

- lower attendance figures due to economic uncertainty, lower disposable incomes or alternative entertainment options; - competition from other cinemas which offer films on release date, improved seating and advanced facilities; 

- lack of control over the cinema auditorium building which is owned by SWCHS; 

- succession planning and governance challenges as we transition from a community start up to a more complex mature organisation. 

Steps being taken to address these strategic risks are: 

- to continually evaluate the films and events the cinema shows as well as continued dialogue with the service users to ensure the right service is being provided to the community 

- a rolling programme agreed with SWCHS of seat refurbishment which is ongoing; and we now offer wine and beer on Friday and Saturday evenings and at selected "Event Cinema" screenings to enhance the cinema experience as a night out; 

- to continue to have a good relationship with SWCHS and are liaising with them and with Saffron Hall; 

- to continue to assess opportunities to develop the cinema further. 

## **FUTURE PLANS** 

For Saffron Screen, the cinema will continue to operate at its current location and offer the same service to the community. However, the current facilities the cinema operates from are a limiting factor in expanding and improving our offering, which is vital for the future of the charity. Our attempts to find suitable alternative premises in or around Saffron Walden which would both meet the needs of our core audience and be commercially viable remains a challenging objective.  We continue to look at various options and are working closely with both the Uttlesford District Council and the Saffron Walden Town Council. 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document** 

The organisation is a charitable company limited by guarantee, incorporated on 17 November 2005, registered as a charity on 14 March 2006, which commenced trading on 20 May 2006. The company was established under a Memorandum of Association dated 31 October 2005 which established the objects and powers of the charitable company and is governed under its Articles of Association, also dated 31 October 2005. In the event of the company being wound up members are required to contribute an amount not exceeding £10. 

## **Recruitment and appointment of new Trustees** 

The initial Trustees of the Charity were recruited from the committee formed to start a cinema in Saffron Walden; subsequently vacancies have been advertised as required. The Board continue to monitor the requirement of new Trustees and appoint where a skills gap is recognised. One of SWCHS' Senior Staff participates as an observer in Board discussions to assist deliberations on maximising educational opportunities from the cinema's programming schedule. 

Under the requirements of the Memorandum and Articles of Association, one-third of the directors retire at each annual general meeting and may stand for re-election. Three directors retired during 2023 and were re-elected. 

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## **Saffron Walden Community Cinema Limited** 

## **Report of the Trustees** 

**for the Year Ended 31 December 2023** 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 

## **Organisational structure** 

The Trustees are responsible for the management of the charity, including proper use of its funds. The Trustees delegate the powers for the day-to-day running of the cinema to the management committee. The Trustees meet quarterly to review the actions of the management committee and make strategic decisions. 

## **Induction and training of new Trustees** 

Our Trustees bring a wide range of skills to the charity including cinema programming, marketing, finance, human resources, legal, and business management. As the organisation develops and as the external environment changes, we keep under review the skills we need.  To ensure this is up to date we carried out a skills audit at the start of 2019. When we recruit, we utilise the results of the skills audit to identify the qualities sought in potential candidates. Opportunities are advertised and the Human Resources sub-committee manages the recruitment process, resulting in recommendations to the full Board. Potential new Trustees are invited to meet with existing Trustees and key management personnel to gain an understanding of their respective roles and the part they play in the decision-making processes, and are provided with appropriate background documentation (e.g. the business plan, recent financial performance, and Memorandum and Articles of Association) together with access to Charity Commission guidance notes. Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role. 

## **Key management remuneration** 

The directors of Saffron Walden Community Cinema Limited are the charity's Trustees, and the senior management team comprise the key management personnel of the charity in charge of directing and controlling, running and operating the charity on a day to day basis. All directors give their time freely except where their specialist skills are required. Details of directors' expenses are disclosed in note 4 to the financial statements. Related party transactions are disclosed in note 12 to the financial statements. 

The pay of all staff is reviewed annually and normally increased in line with inflation. In view of the nature of the charity, the directors benchmark against pay levels in other provincial cinemas of a similar size. 

## **Related parties** 

None of our Trustees receive remuneration or other benefit from their work with the charity. Any connection between a Trustee or senior manager of the charity with a production company, distributor, performer or exhibitor must be disclosed to the full board of Trustees in the same way as any other contractual relationship with a related party. In the current year, no such related party transactions were reported. 

## **REFERENCE AND ADMINISTRATIVE DETAILS** 

## **Registered Company number** 

05626997 (England and Wales) 

## **Registered Charity number** 

1113259 

## **Registered office** 

14 High Street Saffron Walden Essex England CB10 1AY 

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## 

## 



## **Saffron Walden Community Cinema Limited** 

## **Statement of Financial Activities for the Year Ended 31 December 2023** 

|||||31.12.23|31.12.22|
|---|---|---|---|---|---|
|||Unrestricted|Restricted|Total  funds|Total  funds|
|||funds|funds|||
||Note|£|£|£|£|
|**INCOME AND ENDOWMENTS FROM**||||||
|Donations and legacies||52,527|-|52,527|7,872|
|**Charitable activities**||||||
|Cinematic operations||284,229|-|284,229|272,855|
|Investment income|2|1,343|-|1,343|1,129|
|**Total**||338,099|-|338,099|281,856|
|**EXPENDITURE ON**||||||
|Raising funds||10,532|-|10,532|26,852|
|**Charitable activities**||||||
|Cinematic operations||220,648|5,468|226,116|230,327|
|Other||97,603|1,949|99,552|99,822|
|**Total**||328,783|7,417|336,200|357,001|
|**NET INCOME/(EXPENDITURE)**||9,316|(7,417)|1,899|(75,145)|
|**Transfers between funds**|11|(3,000)|3,000|-|-|
|||||||
|**Net movement in funds**||6,316|(4,417)|1,899|(75,145)|
|**RECONCILIATION OF FUNDS**||||||
|**Total funds brought forward**||58,969|45,916|104,885|180,030|
|**TOTAL FUNDS CARRIED FORWARD**||65,285|41,499|106,784|104,885|



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## **Saffron Walden Community Cinema Limited** 

|**Balance Sheet**<br>**At 31 December 2023**<br>31.12.23<br>Unrestricted<br>funds<br>Restricted<br>funds<br>Total  funds<br>Notes<br>£<br>£<br>£<br>**FIXED ASSETS**<br>Tangible assets<br>6<br>19,335<br>-<br>19,335<br>**CURRENT ASSETS**<br>Stocks<br>7<br>1,250<br>-<br>1,250<br>Debtors<br>8<br>23,685<br>-<br>23,685<br>Investments<br>9<br>-<br>6,512<br>6,512<br>Cash at bank<br>64,521<br>34,987<br>99,508<br>89,456<br>41,499<br>130,955<br>**CREDITORS**<br>Amounts falling due within one year<br>10<br>43,506<br>-<br>43,506<br>**NET CURRENT ASSETS**<br>45,950<br>41,499<br>87,449<br>**TOTAL ASSETS LESS CURRENT LIABILITIES**<br>65,285<br>41,499<br>106,784<br>**NET ASSETS**<br>65,285<br>41,499<br>106,784<br>**FUNDS**<br>11<br>Unrestricted funds<br>65,285<br>Restricted funds<br>41,499<br>**TOTAL FUNDS**<br>106,784|31.12.22<br>Total  funds<br>£<br>24,090<br>1,250<br>10,103<br>76,552<br>25,444<br>113,349<br>32,554<br>80,795<br>104,885<br>104,885<br>58,969<br>45,916<br>104,885|
|---|---|



The notes form part of these financial statements 

continued... 

Page 9 



**Notes to the Financial Statements for the Year Ended 31 December 2023** 

## **Saffron Walden Community Cinema Limited** 

## **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. 

## **Going Concern** 

The Trustees have assessed whether the use of going concern is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charitable company to continue as a going concern.  The Trustees have made this assessment for a period of at least one year from the date of the approval of these financial statements. After making enquiries, the Trustees have concluded that there is a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. The charitable company therefore continues to adopt the going concern basis in preparing its financial statements. 

## **Income** 

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received, and the amount can be measured reliably. 

Income from government and other grants, whether capital grants or revenue 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. 

Income received in advance of a cinematic performance is deferred until the criteria for income recognition are met. 

Income from cinematic operations is the amount derived from the provision of goods and services, net of VAT. 

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. 

A grant that specifies performance conditions is recognised in income when the performance conditions are met.  Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability. 

## **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. 

|Projection equipment|- 20% on cost and 10% on cost|
|---|---|
|Seating and screen|- over the life of the license|
|Fixture, fittings & computers|- 25% on cost and 33% on cost|
|Motor vehicles|- 25% on cost|



The notes form part of these financial statements 

Page 11 



**Saffron Walden Community Cinema Limited** 

**Notes to the Financial Statements - continued for the Year Ended 31 December 2023** 

## **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. 

## **2. INVESTMENT INCOME** 

||31.12.23|31.12.22|
|---|---|---|
||£|£|
|Deposit account interest|1,343|1,129|



## **3. NET INCOME/(EXPENDITURE)** 

Net income/(expenditure) is stated after charging/(crediting): 

||31.12.23|31.12.22|
|---|---|---|
||£|£|
|Depreciation - owned assets|4,756|7,301|
|Independent examination fee|500|1,500|



## **4. TRUSTEES' REMUNERATION AND BENEFITS** 

There were no Trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022. 

## **Trustees' expenses** 

Travel costs and expense reimbursements amounting to £95 (2022: £108) were paid to 2 (2022: 1) Trustees. 

No Trustee, or other person related to the charity had any personal interest in any contract or transaction entered into by the charity, during the year. 

## **5. STAFF COSTS** 

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

||31.12.23|31.12.22|
|---|---|---|
|Administration and front of house|19|23|



No employees received emoluments in excess of £60,000. 

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## **Saffron Walden Community Cinema Limited** 

## **Notes to the Financial Statements - continued for the Year Ended 31 December 2023** 

## **6. TANGIBLE FIXED ASSETS** 

|Projection<br>equipment<br>Seating and<br>screen<br>Fixture, fittings<br>& computers<br>Motor vehicles<br>£<br>£<br>£<br>£<br>**COST**<br>At 1 January 2023<br>178,503<br>44,919<br>35,956<br>7,880<br>Additions<br>-<br>-<br>-<br>At 31 December 2023<br>178,503<br>44,919<br>35,956<br>7,880<br>**DEPRECIATION**<br>At 1 January 2023<br>171,449<br>43,446<br>20,393<br>7,880<br>Charge for year<br>2,335<br>462<br>1,958<br>-<br>At 31 December 2023<br>173,784<br>43,908<br>22,351<br>7,880<br>**NET BOOK VALUE**<br>At 31 December 2023<br>4,719<br>1,012<br>13,605<br>-<br>At 31 December 2022<br>7,054<br>1,473<br>15,563<br>-<br>**7.**<br>**STOCKS**<br>31.12.23<br>£<br>Stocks<br>1,250<br>**8.**<br>**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**<br>31.12.23<br>£<br>Trade debtors<br>5,659<br>Other debtors<br>15,012<br>Prepayments<br>3,014<br>23,685<br>**9.**<br>**CURRENT ASSET INVESTMENTS**<br>31.12.23<br>£<br>95 days' notice<br>-<br>35 days' notice<br>6,512<br>6,512|Totals<br>£<br>267,258<br>-|
|---|---|
||267,258|
||243,168<br>4,755|
||247,923|
||19,335|
||24,090|
||31.12.22<br>£<br>1,250<br>31.12.23<br>£<br>2,685<br>5,489<br>1,929<br>10,103<br>31.12.22<br>£<br>55,561<br>20,991|
||76,552|



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## **Saffron Walden Community Cinema Limited** 

## **Notes to the Financial Statements - continued for the Year Ended 31 December 2023** 

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

||31.12.23|31.12.22|
|---|---|---|
||£|£|
|Deferred ticket income|7,499|10,803|
|Trade creditors|6,168|8,499|
|Social security and other taxes|2,040|2,202|
|VAT|9,896|4,132|
|Other creditors|1,854|481|
|Accrued expenses|16,049|6,437|
||43,506|32,554|



## **11. MOVEMENT IN FUNDS** 

|**Unrestricted funds**<br>General fund<br>**Restricted funds**<br>Digital equipment<br>Auditorium fund<br>BFI Sustainability Grant<br>**TOTAL FUNDS**|At 1.1.23<br>Net movement<br>in funds<br>Transfers<br>between funds<br>At 31.12.23<br>£<br>£<br>£<br>£<br>58,969<br>9,316<br>(3,000)<br>65,285<br>58,969<br>9,316<br>(3,000)<br>65,285<br>1,949<br>(1,949)<br>-<br>-<br>43,967<br>-<br>(5,468)<br>-<br>3,000<br>-<br>41,499<br>-<br>45,916<br>(7,417)<br>3,000<br>41,499<br>104,885<br>1,899<br>-<br>106,784|At 1.1.23<br>Net movement<br>in funds<br>Transfers<br>between funds<br>At 31.12.23<br>£<br>£<br>£<br>£<br>58,969<br>9,316<br>(3,000)<br>65,285<br>58,969<br>9,316<br>(3,000)<br>65,285<br>1,949<br>(1,949)<br>-<br>-<br>43,967<br>-<br>(5,468)<br>-<br>3,000<br>-<br>41,499<br>-<br>45,916<br>(7,417)<br>3,000<br>41,499<br>104,885<br>1,899<br>-<br>106,784|
|---|---|---|
|||65,285<br>-<br>41,499<br>-|
|||41,499|
|||106,784|



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## **Saffron Walden Community Cinema Limited** 

## **Notes to the Financial Statements - continued for the Year Ended 31 December 2023** 

## **11. MOVEMENT IN FUNDS – continued** 

Net movement in funds, included in the above are as follows: 

|**Unrestricted funds**<br>General fund<br>**Restricted funds**<br>Digital equipment<br>Auditorium fund<br>**TOTAL FUNDS**<br>**Comparatives for movement in funds**<br>**Unrestricted Funds**<br>General fund<br>Designated fund<br>**Restricted Funds**<br>Digital equipment<br>Auditorium fund<br>BFI Sustainability Grant<br>**TOTAL FUNDS**|Incoming<br>resources<br>Resources<br>expended<br>Movement in<br>funds<br>£<br>£<br>£<br>338,099<br>(328,783)<br>9,316<br>-<br>(1,949)<br>(1,949)<br>-<br>(5,468)<br>(5,468)<br>338,099<br>(336,200)<br>1,899<br>At 1.1.22<br>Net movement<br>in funds<br>Transfers<br>between funds<br>At 31.12.22<br>£<br>£<br>£<br>£<br>109,298<br>(72,565)<br>22,236<br>58,969<br>25,236<br>-<br>(25,236)<br>-<br>134,534<br>(72,565)<br>(3,000)<br>58,969<br>4,529<br>(2,580)<br>-<br>1,949<br>40,967<br>-<br>3,000<br>43,967<br>-<br>-<br>-<br>-<br>45,496<br>(2,580)<br>3,000<br>45,916<br>180,030<br>(75,145)<br>-<br>104,885|
|---|---|
|||
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## **Saffron Walden Community Cinema Limited** 

## **Notes to the Financial Statements - continued for the Year Ended 31 December 2023** 

## **11. MOVEMENT IN FUNDS – continued** 

Comparative net movement in funds, included in the above are as follows: 

|**Unrestricted funds**<br>General fund<br>**Restricted funds**<br>Digital equipment<br>Auditorium fund<br>BFI Sustainability Grant<br>**TOTAL FUNDS**|Incoming<br>resources<br>Resources<br>expended<br>Movement in<br>funds<br>£<br>£<br>£<br>252,375<br>(324,940)<br>(72,565)<br>-<br>(2,580)<br>(2,580)<br>-<br>-<br>-<br>29,481<br>(29,481)<br>-<br>281,856<br>(357,001)<br>(75,145)|
|---|---|



The Digital equipment fund represent funds specifically raised to acquire digital equipment. Expenditure represents the depreciation of the equipment. 

The Auditorium fund represents the maintenance of the fabric of the auditorium and lobby, as agreed with Saffron Walden County High School, This fund represents Saffron Screen’s annual contribution net of expenditure. 

The BFI Sustainability Grant represents funding for allowable costs to be covered by the Cultural Recovery Fund, a central government funding programme operated by the British Film Institute. The fund is to cover losses incurred while the organisation operates at reduced capacity due to social distancing and restricted attendance. 

## **Transfers between funds** 

As per a licence agreement between Saffron Walden Community Cinema Limited and Saffron Walden County High School, dated 17 January 2013, there is a requirement for each organisation to contribute £3,000 per annum into a fund for the maintenance of the fabric of the auditorium and lobby. The transfer of £3,000 between unrestricted and restricted funds for the year ended 31 December 2023 is the agreed allocation of funds to meet future costs in relation to this agreement. Details of the restricted fund can be found in the note for restricted funds. 

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**Saffron Walden Community Cinema Limited** 

**Notes to the Financial Statements - continued for the Year Ended 31 December 2023** 

## **12. RELATED PARTY DISCLOSURES** 

There were no related party transactions for the year ended 31 December 2023. 

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## **Saffron Walden Community Cinema Limited** 

|**INCOME AND ENDOWMENTS**<br>**Donations and legacies**<br>Friends of Saffron Screen<br>Other donations<br>**Investment income**<br>Deposit account interest<br>**Charitable activities**<br>Income from admission charges<br>Refreshments<br>Sponsorship and advertising<br>Grants<br>Other income<br>**Total incoming resources**<br>**EXPENDITURE**<br>**Raising donations and legacies**<br>Marketing wage costs<br>**Charitable activities**<br>Cinematic operation wage costs<br>Refreshment purchases<br>Distributor fees<br>IT software charges<br>Additional booking fees<br>Event and course costs<br>Equipment repairs<br>**Support costs**<br>**Management**<br>Management wage costs<br>Insurance<br>Telephone<br>Postage and stationery<br>Advertising and marketing<br>Carried forward|**Detailed Statement of Financial Activities** <br>**for the Year Ended 31 December 2023**|31.12.23<br>£<br>7,212<br>45,315<br>52,527<br>1,343<br>217,029<br>39,886<br>7,000<br>13,007<br>7,307|31.12.22<br>£<br>5,822<br>2,050|
|---|---|---|---|
|||||
||||7,872<br>1,129<br>194,607<br>36,280<br>8,509<br>32,583<br>876|
|||284,229<br>**338,099**<br>10,532<br>96,686<br>19,344<br>87,988<br>7,580<br>6,106<br>-<br>8,412<br>226,116<br>38,769<br>1,261<br>1,057<br>530<br>14,790<br>56,407|272,855|
||||**281,856**<br>26,852<br>106,002<br>16,292<br>82,570<br>6,805<br>12,699<br>186<br>5,773|
||||230,327<br>35,591<br>1,207<br>1,077<br>448<br>17,343<br>55,666|



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## **Saffron Walden Community Cinema Limited** 

|**Management**<br>Brought forward<br>Sundries<br>IT costs<br>Travel and entertainment<br>Office expenses<br>Subscriptions and licence fees<br>Van running costs<br>**Finance**<br>Bank charges<br>**Other**<br>Depreciation<br>**Governance costs**<br>Professional fees<br>Accountancy fees<br>**Total resources expended**<br>**Net (deficit) / surplus**|**Detailed Statement of Financial Activities** <br>**for the Year Ended 31 December 2023**|31.12.23<br>£<br>56,407<br>195<br>1,476<br>1,286<br>16,125<br>2,657<br>1,242<br>79,388<br>7,547<br>4,756<br>7,361<br>500<br>7,861<br>336,200<br>1,899|31.12.22<br>£<br>55,666<br>386<br>2,557<br>1,865<br>9,020<br>1,201<br>1,333<br>72,028<br>8,026<br>7,301<br>10,967<br>1,500<br>12,467<br>357,001<br>(75,145)|
|---|---|---|---|
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This page does not form part of the statutory financial statements 

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