REGisfERED COMPANY NUMBER: 4199742 (England and Wales) REGISTERED CHARITY NUMBER: 1120059 CAMBRIDGE FILM TRUST REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
CAMBRIDGE FILM TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The trustees, who are also directors of the charlty for the purposes of the Companies Act 2006, present thelr report with the flnancial statements of the charityfor the year ended 31 March 2024. The trustees have adopted the provisions of the Statement of Recommended Practice ISORP)'Accounting and Reporting by Charities, issued in March 2005. REFERENCE AND ADMINISTRATIVE DEfAILS Reglstered Company number 4199742 (England and Wales} Reglstered Charlty number 1120059 Re8lstered office Arts Picturehou5e 38-39 St Andrews Street Cambridge CB2 3AR Trustees A J Jones Dr l M M¢Neill {Chair} S R Jones Ilnterlm Chalr since August 20241 M O'Brien MDWebb Dr G W Maguire (appointed l May 2024) Company Secretary A J Jones Independent Examlner Timothy David Brown Chartered Accountant 50 The Ridings Surbiton Surrey KT5 8HQ Bankers Barclays Bank PLC 28 Chesterton Road Cambrid8e CB4 3AZ Page I
CAMBRIDGE FILM TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Governln8 document The charity is controlled by its governing document, a deed of trust, and is incorporated as a company limited by guarantee under the Companie5 Act 2006. Appointment of Trustees The management of the charity is the responsibility of the Trustees who are elected under the deed of trust. The Board of Trustees aim to maintain a broad mix of business. artistic and community-based skills. When particular skills are lost, individuals with the relevant skills are approached to offer themselves for election to the Board of Trustees. All trustees are regularly invited to attend events and activities run by the charity. Rlsk management The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. Publlc benefrt statement In shaping our objectives for the year and planning our activities. the Trustees have considered the Charity Commission's guidance on public benefit, particularly with regard to fee charging. The Cambridge Film Trust relies on grants from public funding bodies and private foundations but a150 on income generated from the activities it organises. In establishing the level of fee5, charges and concessions, the Trustees aim to ensure due consideration is given to the accessibility of it5 activities for those on low incomes. The Trustees a150 make sure that a certain number of events are provided free of charge to increase the inclusiveness of the work of the Trust. Trust events taking place at the Arts Pirturehouse in Cambridge are also included In the Picturehouse membership scheme, offering a discount to those purchasing an annual membership. Objectlves The Cambridge Film Trust is a registered charlty that fosters film culture and education for the benefit of the public, primarily in Cambrld8e and the Eastern region but also throughout the UK. We deliver a broad portfolio of screenings, speclal events and tailor-made projects which enable people to be moved by, learn about and interart with film. Specifically, our objectives are to: promote, develop and maintain the appreciation of and educatlon In 11 the art, craft. technology and theatrical experience of film and video, including without limitation contemporary and historical, local, national and world cinema- and ii) the theory, history, aesthetics and practice of film and video making and the film and video industries and the associated attivities of film and video journalism, publishing and distribution both by and for the public and by and for pupils, Students, researchers and teaching staff at schools, colleges and universities in Cambridgeshire. the UK and elsewhere. promote the appreciation of and education and research in film and video and other objects beneficial to the community through undertaking, facilitating and/or promoting the preservation of film and video andlor through providing or assisting with the provision of public screenings of film and video. Page 2
CAMBRIDGE FILM TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 2023-2024 Actlvftles The Cambridge Film Trust delivers an ambitious and culturally-diverse programme of high-quality cinema in a variety of settings. some of which are free and are rooted in a strong community element, as well as other film-related events, often with an educational purpose. They include a large selection of international & foreign-language films. the majority of which would not otherwise be easily available to audiences, presented in often innovative and inspirational ways. The highlight of our year-round programme of events is the Cambridge Film Festival. one of the most well-respected events in the UK festival calendar, which was founded in 1977 and is the third longest running UK film festival. The Festival has a long-established reputation for delivering a critically well received programme of film and events to a large and diverse audience from across the UK and elsewhere, and is one of the most popular film-based events in the East of England. The Festival programme provides a range of benefits for the public, most notably access to quality independent films which often do not receive any distribution or exhibition in the UK and an opportunity to meet and debate with directors, producers, actors and those Involved in filmmaking. The 42nd Cambridge Fllm Festlval (19-26 October 2023) The 2023 Cambridge Fllm Festival was a significant achievement.. we experienced a marked increase In attendance, attracted a higher level of sponsorshlp and media coverage, expanded our community outreach. and successfully hosted high-profile guests and events, including the second editlon of a well-attended Industry Day. Feedback for the Festival's diverse and high-quality programme was overwhelmingly positive. The increase in attendance was particularly notable, with a rise of nearly 25%. After the challenges of the COVID-19 pandemic, itwas encouragingto see sold-out streenings every day and to surpass our targets for both audience size and box office performance. This success can be attributed to a combination of factors, including the strength of the programme, the careful scheduling of screenings to maximize attendance. and increased publicity through TV. radio, and press coverage. Forthe third consecutive year, half of the filmswe programmed were directed bywomen or non-binary filmmakers {52% for features, 50% overall). The Festival presented films from 33 countries, offering a diverse range of subjects and onscreen representation. We also brought back our Family Film Festival. offering free access to the community. We were proud to welcome Asif Kapadia, recipient of the second Cambridge Film Festival Outstanding Contribution Award, who participated in film introductions, Q&As, and an extended workshop with our Youth Lab. Opening Night attracted significant attention from both the audience and the media, with Typist Artist Pirate King director, lead actor, and producer in attendance. Other visiting talent, including Carol Morley. Monica Dolan, Asif Kapadia. and Sally Potter, were all impressed with the Festival'5 organization and pro8ramme. This year marked the second year of our integrated management structure, which has helped streamline processes and foster greater cooperatlon across all areas of Festival delivery. It was also the third year of our collaborative Programmin8 Panel. These structural changes have enabled us to use our resources more effectively, steer the Festival toward greater sustalnabillty, and create a more rewarding and mutually supportive environment. Page 3
CAMBRIDGE FILM TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Educatlon Programme One of the biggest areas of growth and focus in recent years has been education and industry. In 2023, the Cambridge Film Trust rebranded and refocused all its activities for young people under a unified Education Programme. This strategic and essential portfolio project aims to engage young people aged 16 to 24, with a special focus in targeting those from disadvantaged backgrounds and minority groups. It includes initiatives such as volunteering, mentorship, internships, Industry Day, talks at college5 and universities, and the Youth Lab. In 2023, we delivered a wide range of initiatives focused on skills development, networking, and training, culminating in the Cambridge Film Festival in October. This work benefited over 300 young people in Cambridgeshire, providing practical skills and pathways into the film industry. It was supported by the Cambridgeshire Community Foundation, Britford Bridge Trust, Anglia Ruskin University and The London School Trust. The Youth Lab Launched in 2019 and young person led, the CFF Youth Lab is our flagship film education initiative, focusing on developing young people's film evaluation and criticism skills. as well as encouraging communication and network building. This year, the programme expanded its reach, offering regular film discussion groups, workshops, networking events, and presentations by industry professionals. The Youth Lab is one of the proudest achievements of the Cambridge Fllm Trust over recent years and a key focus for the organisatlon and the Cambridge Film Festival in the years to come. Highlighting its sl8nlflcance, the Youth Lab presented the Youth Lab Jury Award for the best feature during the 42nd edition of the Festival and organlsed a bespoke screening event in February 2024 as part of the inaugural Cambrldge Arts Festival. The Youth Lab wa5 supported by the Cambridgeshire Community Foundation, Cambrldge City Council, Herefordshire Community Foundatlon, The Cole Trust, and Postcode Places Trust, enabling it to expand its valuable programme of actlvlties while strengthening Its focus on increasing participation from underrepresented communitie5 and young people from diverse backgrounds. Operatlng Support of Cambridge Fllm Festfval The Cambridge Film Trust worked hard throughout the year to secure sustainable and diverse income streams. Income consisted of grant funding, private fundin& sponsorship from local companies, ticket sales and film submissions. The Trust received grant funding through the British Film Institute IBFI), with the Support of National Lottery. as well as the invaluable contribution of private donors, including The Eligator Sansom Family Fund. 2023 saw the continued support from long standing principal partners Studio 24 and ThP Group as well a5 new and existing sponsors such as Astrazeneca, Alchemie Technology, Cambridge Bid, Woodfines Solicitors the Gonville Hotel, Airport Lynx and Sticks'n'sushi, among others. International bodies such as the Institut Ramon Llull (Catalonia's cultural institute) continued to support elements of the Festival and we received a small amount of screening support from Film Hub South East in relation to a strand on Powell & Pressburger as part of the BFI'S Cinema Unbound season. The Board of Trustees wish to record their gratitude to our funders and partner5 as well as friends and audience member5 who have made donations and bought tickets to Festival events. Page 4
CAMBRIDGE FILM TRUST REPORT OFTHE TRUSTEES FOR THE YEAR ENOED 31 MARCH 2024 Rlsk & Un¢ertainties The Trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in plate to mitigate exposure to major risks. External risks to funding have led to further developments of a fundraising and sponsorship plan. which allows for the diversification of funding and activities and, ultimately, the sustainability of the festival in the long term. Since April 2019. the Trust engages a dedicated freelance corporate Sponsorship manager. Since 2021. the Trust also runs a Friends & Patrons scheme to increase year-round donations from individua15. Diversifying income streams is key to the success of the Festival and thus, the Trust has put in place the necessary measures to ensure certain milestones and KPIS are met. Internal risks are minimized by the implementation of procedures for authorisation of all transactions and projects and to ensure consistent quality of delivery for all operational aspects of the charitable company. These procedures are periodically reviewed to ensure that they still meet the needs of the charitv. Financial Review- Going concern The income from core activities for 2023-24 was £216,779 compared to £164,160 In 2022-23. The charity continues to monltor costs carefully. The dlrectors remain confident with regards to the future ability to meet the Trusts obligatlons as they fall due. They are satisfied that it is appropriate to adopt the golng concern basis when preparing these accounts. Reserves Pollcy The Board of Trustees has examined the charity's requirements for reserves, in light of the main risks to the charity. It has established a policy whereby the unrestricted funds held by the charity should be at least I month of operating costs, between £8,000 and £25.000 being the level of funds requlred to cover short term cash flow deficlts caused when funders pay grants In arrears of expenditure and also to ensure that the charity has sufficient reserves to cover the statutory costs of enforced closure in the event of a major loss of funding. At the 31 March 2024 the balance sheet was showing £14,438 of unrestricted funds. The bulk of Activities Generatin8 Funds are held in the last quarter of the year. The Trustees consider it is appropriate to operate as a Going Concern. Governance Costs The Governance Costs for 2023-24 were £4,64912022-23 were £4,987) SIGNED ON BEHALF OF THE BOARD: Simon R Jones {Interim Chair) 18 December 2024 Page 5
CAMBRIDGE FILM TRUST INDEPENDENT EXAMINER'S REPORTTO THE TRUSTEES OF CAMBRIDGE FILM TRUST FOR THE YEAR ENDED 31 MARCH 2024 I report on the accounts for the years ended 31 March 2024 set out on pages seven to thirteen. Respective responsibilities of trustees and examlner The charity's trustees (who are a150 the directors for the purposes of company lawl are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year (under Section 144 of the Charities Act 20111 and that an independent examination is required. Having satisfied myself that the charity 15 not subject to audit under company law and is eligible for independent examination, it is my responsibility to: examine the accounts under Section 145 of the Charities Act 2011. to follow the procedures laid down in the General Directions given by the Charity Commission lunder Section 145{5)Ibl of the 2011 Act),. and to state whether particular matters have come to my attention. Basls of the Independent examlner's report My examination was carried out in accordance with the General Directions given by the Charity Commission. An examinatlon includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideratlon of any unusual Items or dlsclosures In the accounts, and seeking explanatlons from you as trustees concerning any such matters. The procedures undertaken do not provlde all the evidence that would be required in an audit, and consequently no oplnion is given as to whether the accounts present a 'true and fair view, and the report is limited to those matters set out in the statements below. Independent examlner's statement In connection with my examination, no matter has come to my attention: which gives me reasonable cause to believe that, in any material respect, the requirements to keep accounting records in accordance with Section 386 and 387 of the Companies Act 2006,. and to prepare accounts which accord with the accounting records, comply with the accounting requirements of Section5 394 and 395 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice.. Accounting and Reporting by Charities have not been met,. or 2 to which. in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. rimothy D Brown Chartered Accountant 50 The Ridings Surbiton Surrey KT5 8HQ 18 December 2024 Page 6
CAMBRIDGE FILM TrUST STATEMENT OF FINANCIAL AcfiviTIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Notes Unrestricted Restricted 2024 2023 Incomlng Resources from generated funds Total Voluntary Income Activities for Generdting Funds Total Incoming Resources 28,874 135,504 164.378 52.401 81,275 135,504 216,779 69,174 94.986 164,160 52,401 Resources Expended Charitable Actlvltles Event Cost5 Film Costs Freelance C05t5 Marketing & Publlc Relatlons 17,827 5,259 24,932 3,555 3,112 14,067 16,861 5,CM)I 20,939 19,326 41,793 8,556 15,692 13,443 39,588 20,098 Other Expenses Ilnc Staff Cost51 Governance Costs 101,468 4,649 14,350 115,818 4,649 87,656 4,987 Total Resources Expended 157,690 53,391 211,081 181,464 Net Incomlng I IOutgoin8) Resour¢es 6,688 {990) 5,698 117,3041 Transfer between funds Funds brought forward TOTAL FUNDS CARRIED FORWARD 7.750 14,438 990 8.740 14,438 26,044 8,740 Net Movement in Funds (6,688) (990) 5,698 {17,3041 The notes on pages 10- 13 form part of these financlal statements Page 7
CAMBRIDGE FILM TRUST BALANCE SHEEf FOR COMPANY REGISTRATION NUMBER 4199742 AT 31 MARCH 2024 2024 2023 Flxed Assets Tangible Assets Current Assets Debtors Bank & Cash 2,649 38,855 41,504 13,968 16,005 29,973 Creditors: Amounts falling due within one year 27.066 21,233 NET CURRENT ASSETS/ ILIABILITIES} 14,438 8,740 Creditor5: Arnounts falling due after one year TOTAL ASSETS LESS TOTAL LIABILITIES 14.438 8,740 Funds Restricted funds Unrestricted funds 990 7,750 14,438 TOTAL FUNDS 14,438 8,740 The notes on pages 10- 13 form part of these financial statements Page 8
CAMBRIDGE FILM TRUST BALANCE SHEEf- CONTINUED AT31 MARCH 2024 The charitable company is entitled to exemption from audit undersection 477 of the Companies Act 2006 for the period ended 31 March 2024. The members have not required the charitable company to obtain an audit of its financial statements for the period ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for (al ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and preparing financial statements which give a true and fair view of the state of affairs of the charitable company a5 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 requirernents of the Companies Act 2006 relating to financial statements. so far as applicable to the charitable company. These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Art 2006 relating to small charitable companies and with the Financial Reporting Standard for Smaller Entities {effective April 20081. The financlal statements were approved by the Board of Trustees on 18 December 2024 and were signed on its behalf by: Simon R Jones Ilnterim Chairl Registered Company Number 4199742 The notes on pages 10- 13 form part of these financial statements Page 9
CAMBRIDGE FILM TRUST NOTES TO THE FINANCIAL sfATEMENTS AT 31 MARCH 2024 I. ACCOUNTING POLICIES Basls of preparing the flnancial ststements The atcounts are prepared on a going concern basis. The directors believe the going concern basis of accounting is appropriate because there are no material uncertainties related to events or conditions that may cast Slgnificant doubt about the ability of the company to continue a5 a going concern. Accounting convention The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entitie5 (effective April 2CM)81, the Companies Act 2006 and the requirements of the Statement of Recommended Practice. Accounting and Reporting by Charities ISORP 20051. pparatIOn of consolidated flnanclal statements The financial statements contain information about Cambridge Film Trust as an individual charity and do not contain consolidated financial information as the parent of a group. The charity has taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements. Incomlng resources All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. Grants are recognised in the Statement of Financlal Activitles In the year in whlch they are receivable. Resources expended 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 attrlbuted to partlcular headlngs they have been alloc3ted to activities on a basis conslstent with the use of resources. Governance costs are those incurred with the administration of the charity and compliance with constitutional and statutory requirements. Tanglble fixed assets Depreciation is provided at the followlng annual rates in order to write off each asset over its estimated useful life. Plant and machinerv 25% reducing balance Motor Vehicles 25% reducing balance Computer Equipment 33% straight line Taxation The charity is exempt from corporation tax on its charitable activities. Fund accountlng 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. Forei8n currencles Assets and liabilities In foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. NOTES TO THE FINANCIAL STATEMENTS- CONTINUED Page 10
CAMBRIDGE FILM TRusr AT 31 MARCH 2024 2. RESTRicfED FUNDS Included within Voluntary Income are Restricted Funds. Financial transactions in the year relating to the restricted funds of the charity were as follows: Income 2024 2023 Institut Ramon Llull / Camera Catalonia at CFF BFI Powell & Pressburger Season 2023 IBFI Horror Season 2022) ICO Film Hub South East BFI - Film Festival 2023 {2022) Cambridgeshire Community Foundation- Education Programme 2023-24 (including Youth Lab) Britford Bridge Trust- Education Programme 2023 The London School Trust- Education Programme 2023 Cambridge City Council - Youth Lab 2023-2024 Herefordshire Community Foundation - Youth Lab 2023 The Cole Trust- Youth Lab 2023-2024 Postcode Places Trust- Youth Lab 2024 4,601 3,058 2,OCrf) 500 23.000 25.000 8,000 3,000 5,000 1,000 2.000 2,200 1,500 3,100 52,401 All Restricted Funds 31,558 3. ACTIVITIES FOR GENERATING FUNDS 2024 2023 Box office income 39,849 5,823 54,547 35,285 29,213 2,149 39,852 23.772 Events and other Income Sponsorship Submission fees 135,504 94,986 4. TRUSTEES, REMUNERATION AND BENEFITS 2024 2023 Trustees, remuneration & Expenses Independent Examiners Fees NIL NIL 300 300 5. STAFF COSTS 2024 2023 Salaries & Nl 82,047 1.832 74,735 1,026 Pension 83,879 75,761 Average Staff Numbers Management Team 2024 2023 There were no employees with emoluments above £60,000 Page 11
CAMBRIDGE FILM TRUST NOTES TO THE FINANCIAL STATEMENTS- CONTINUED AT 31 MARCH 2023 6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade debtors 446 12.060 Taxation and social security Prepayments 2,203 2,649 1,909 13,969 7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade creditors Taxation and social security Accruals and deferred Income 1,644 2,362 23,060 3,440 3.254 14,539 27,066 21,233 Deferred income includes £9,3(M) from the Postcode Place5 Trust- Youth Lab 2024 Grant. Net movement in funds At31 March 2024 At IApril 2023 8. MOVEMENT IN FUNDS Restricted fund Unrestricted fund 990 19901 6,688 5,698 7,750 8,740 14,490 TOTAL FUNDS 14,438 Net movement in funds, included in the above are as follows: Incoming Resources Resources expended Movemen t in Funds Restricted fund 52,401 164.378 53,391 157.690 (990) 6.688 Unrestricted ftjnd TOTAL FUNDS 216.779 211.081 5.698 9. ULTIMATE CONTROLLING PARTY During the year the Trust was controlled by the trustees. Page 12
CAMBRIDGE FILM TRUST DEfAILED STATEMENT OF FINANCIAL AcfiviTIES FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Incomlng Resources Voluntary Income Donation5 from Individuals Grants/Donations from Companies 28,874 52,401 81.275 37,616 31,558 69,174 Artivltles for Generating Funds Box Office Income Events and other Income Sponsorship Submission Fees 39.849 5,823 54,547 35,285 135,504 29,213 2,149 39,852 23,772 94,986 Total Incomlng Resources 216,779 164,160 Resources Expended Event Costs Film Costs Freelance Costs Marketing & Public Relations Website Costs Wages & NIC Equipment Hire & Small Equlpment Purchase Travelling & Hospitality Bank Charges Other Insurance Governance Costs (Accountancy, Bookkeeping and Examinatlonl Total Resources Expended 20,939 19,326 41,793 8,556 12,711 83,879 65 11,478 182 5,819 1,684 4,649 211,081 15,692 13,443 39,588 7,506 12,592 75,761 6,763 192 3,111 1,829 4,987 181,464 Surplus I (Deficit) 5.698 {17.304) Page 13