DocuSign Envelope ID: C46EB02D-7FCD-431C-BB3C-0DF4A5B2B240
Registered number: 8298751 Charity number: 1150757
LEWES COMMUNITY SCREEN
(A company limited by guarantee)
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
DocuSign Envelope ID: C46EB02D-7FCD-431C-BB3C-0DF4A5B2B240
LEWES COMMUNITY SCREEN (A company limited by guarantee)
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the charitable company, its trustees and | 1 |
| advisers | |
| Trustees' report | 2 - 6 |
| Independent auditors' report on the financial statements | 7 - 11 |
| Consolidated statement of financial activities | 12 |
| Consolidated balance sheet | 13 |
| Charitable company balance sheet | 14 |
| Consolidated statement of cash flows | 15 |
| Notes to the financial statements | 16 - 35 |
DocuSign Envelope ID: C46EB02D-7FCD-431C-BB3C-0DF4A5B2B240
LEWES COMMUNITY SCREEN (A company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITABLE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2022
| Trustees | Robert Norman Senior, Chair |
|---|---|
| Sarah Frances Hunter | |
| John Letheren Kenward (resigned 19 July 2021) | |
| Jennifer Margaret Sibree Leeburn | |
| Jeremy Neil Page (appointed 7 March 2022) | |
| Richard Stephen Powell (resigned 7 March 2022) | |
| Martin Charles Kay (deceased 13 October 2021) | |
| Mikey Elizabeth Cuddihy (appointed 7 March 2022) | |
| Company registered number 8298751 Charity registered number 1150757 Registered office 18 Keere Street Lewes East Sussex BN7 1TY Principal operating office Depot Pinwell Road Lewes East Sussex BN7 2JS Investment advisors R.C. Brown 1 The Square Temple Quay Bristol BS1 6DG Independent auditors Griffin Stone Moscrop & Co Chartered Accountants 21-27 Lamb's Conduit Street London WC1N 3GS Bankers Bank of Scotland plc 155 Bishopsgate London EC2M 3YB Solicitors Stone King LLP Boundary House 91 Charterhouse Street London EC1M 6HR |
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DocuSign Envelope ID: C46EB02D-7FCD-431C-BB3C-0DF4A5B2B240
LEWES COMMUNITY SCREEN (A company limited by guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2022
The trustees who are also the directors of the charitable company, present their annual report together with the audited financial statements of the group and the company for the 1 April 2021 to 31 March 2022. The annual report also serves the purposes of a directors' report under company law. The trustees confirm that the annual report and financial statements comply with the current statutory requirements, the Charities Act 2011, the Companies Act 2006, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
The charitable company also operates under the names Depot and The Depot Cinema.
Objectives and activities
a. Policies and objectives
In setting objectives and planning for activities, the trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
By operating a community cinema the charitable company will advance education in the knowledge, understanding and appreciation of the arts, particularly the art of film and allied visual techniques, in particular for the benefit of the inhabitants of the town of Lewes and the surrounding area.
b. Strategies for achieving objectives
The Depot cinema offers an extensive programme of films and events which appeal to all age groups. The venue is regarded as the most environmentally sound in the UK and has won awards for design and disability access, encouraging many elderly people to visit. Ticket prices are generally maintained at a low level, especially for under 25s, which encourages young people to visit the cinema on a regular basis. The Depot also offers a range of educational courses and actively participates in a range of community events, working often with local charities.
Strategic report
Achievements and performance
a. Key performance indicators
The trustees do not use key performance indicators in the traditional sense to measure the performance of the group; rather the following objectives are set:
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To operate a community cinema/arts venue, as close to full capacity as possible, to enhance the availability of the arts in Lewes and in East Sussex in general;
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To operate the cinema and a programme of events without financial loss while maintaining a wide ranging programme and low ticket prices; and
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To operate a café-bar trading subsidiary to generate additional funds. To date this has not been achieved and the community venue has been supported by private donations. The goal is to make the trading subsidiary profitable enough to reduce or eliminate the need for private donations.
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DocuSign Envelope ID: C46EB02D-7FCD-431C-BB3C-0DF4A5B2B240
LEWES COMMUNITY SCREEN (A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022
Strategic report (continued)
Achievements and performance (continued)
b. Review of activities
During the year the group received donations, sponsorship and grants of £253,642 and community cinema operations generated income of £785,233. Income generated by the subsidiary company in operating the bar and restaurant amounted to £1,076,856.
Expenditure incurred by the group totalled £2,298,553, of which £1,076,856 related to the subsidiary company.
The group's net expenditure for the year amounted to £21,905.
c. Fundraising activities and income generation
The group does not carry out significant fundraising activities.
d. Duty to promote the success of the charitable company to achieve its charitable purposes
The trustees have throughout the year acted individually and collectively in the best interests of the charitable company and all its stakeholders. Specifically, the trustees have established and maintained a code of conduct and strategy which promotes the short and longer-term interests of all stakeholders, including beneficiaries, employees and customers. The strategy of the board has been designed to ensure the current and future success of the charitable company, whilst respecting and promoting its responsibilities within the film industry and wider social community.
Financial review
a. Going concern
After making appropriate enquiries, the trustees have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
b. Reserves policy
The group has a reserve (currently around £4,000,000) invested with RC Brown Investments Limited who have an ethical low-risk investment strategy. The funds exist to support trading activities if required, plus future capital investments. The reserves policy is reviewed annually.
c. Principal risks and uncertainties
The cinema/arts venue is well established in the area and has proved extremely popular. Therefore the trustees do not envisage any risks to trading performance.
d. Principal funding
Principal funding has come from one individual.
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DocuSign Envelope ID: C46EB02D-7FCD-431C-BB3C-0DF4A5B2B240
LEWES COMMUNITY SCREEN (A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022
Structure, governance and management
a. Constitution
Lewes Community Screen is registered as a charitable company and is constituted under a trust deed dated 19 November 2012, becoming a registered charity on 8 February 2013, number 1150757.
The principal object of the charitable company is to operate a community cinema.
b. Methods of appointment or election of trustees
The management of the Group and the charitable company is the responsibility of the trustees who are elected under the terms of the trust deed. Trustees are selected on the basis of the relevance of their professional knowledge and experience relevant to the charitable company's activities.
c. Organisational structure and decision-making policies
Significant decisions relating to the charitable company's operations, activities, systems and controls are made by the trustees, who meet in person on a regular basis and communicate through electronic means as and when necessary. The trustees have delegated the day-to-day running of the charitable company to its administrator, one of the charitable company's employees, whose remuneration package is decided upon by the trustees based on their knowledge of those provided by similar entities.
d. Policies adopted for the induction and training of trustees
Newly appointed trustees receive advice, as an induction, on the objectives, activities and plans of the charitable company and on trustee responsibilities (in particular through provision of the Charity Commission's publication The Essential Trustee: What you need to know ).
e. Pay policy for key management personnel
Remuneration of key staff is benchmarked against typical rates of pay in the arts and hospitality industries. These are researched by the HR team on a regular basis.
f. Risk management
The trustees have assessed the major risks to which the Group and the charitable company are exposed, in particular those related to the operations and finances of the Group and the charitable company, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
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DocuSign Envelope ID: C46EB02D-7FCD-431C-BB3C-0DF4A5B2B240
LEWES COMMUNITY SCREEN (A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022
Plans for future periods
Future developments
The operation of the Depot continues to be a great success with many thousands of visitors each year. It has also won a number of national awards including most recently the Green Screen Award 2022. It is one of the most successful cinemas in the UK in terms of seat bookings and community engagement and is one of the most eco cinemas in the world.
The Depot operates a wide ranging programme which includes many world cinema releases that highlight significant social and political issues, and it hosts a number of special events and festivals. It is far less reliant on blockbuster releases than most cinemas and experiences good attendances across most films.
Cinemas globally have faced challenges due to the rise of domestic streaming services and the impact of the Covid epidemic. We are optimistic that customer traffic is returning to post-Covid levels and note that companies such as Netflix have seen a decline in subscriptions.
Due to the current economic challenges facing the country we have adopted policies to make the Depot an affordable destination. These include half-price Tuesdays and free children’s meals. Ticket prices have not been increased and the cinema still offers a £5 ticket price for under 25s.
The café-bar run by the Depot is a popular local venue with quality food and drink on offer which is far superior to the vast majority of cinemas in the UK. This is also offered at affordable prices.
The Trustees are confident that the Depot will continue to operate as a highly successful and popular venue.
Statement of trustees' responsibilities
The trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for preparing the trustees' report including the strategic 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 . Under company law, the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Group and the charitable company and of their incoming resources and application of resources, including their income and expenditure, for that period. In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles of the Charities SORP (FRS 102);
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Group and the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the Group and the charitable company 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 Group and the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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DocuSign Envelope ID: C46EB02D-7FCD-431C-BB3C-0DF4A5B2B240
LEWES COMMUNITY SCREEN (A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022
Disclosure of information to auditors
Each of the persons who are trustees at the time when this trustees' report is approved has confirmed that:
-
so far as that trustee is aware, there is no relevant audit information of which the charitable group's auditors are unaware, and
-
that trustee has taken all the steps that ought to have been taken as a trustee in order to be aware of any relevant audit information and to establish that the charitable group's auditors are aware of that information.
Approved by order of the members of the board of trustees and signed on their behalf by:
................................................ Robert Norman Senior Trustee
Date: 22 December 2022
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DocuSign Envelope ID: C46EB02D-7FCD-431C-BB3C-0DF4A5B2B240
LEWES COMMUNITY SCREEN (A company limited by guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF LEWES COMMUNITY SCREEN
Opinion
We have audited the financial statements of Lewes Community Screen (the 'parent charitable company') and its subsidiary company (the 'group') for the year ended 31 March 2022 which comprise the consolidated statement of financial activities, the consolidated balance sheet, the charitable company balance sheet, the consolidated statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
-
give a true and fair view of the state of the Group's and of the parent charitable company's affairs as at 31 March 2022 and of the Group's incoming resources and application of resources, including its income and expenditure for the year then ended;
-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
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DocuSign Envelope ID: C46EB02D-7FCD-431C-BB3C-0DF4A5B2B240
LEWES COMMUNITY SCREEN (A company limited by guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF LEWES COMMUNITY SCREEN (CONTINUED)
Other information
The other information comprises the information included in the annual report other than the financial statements and our auditors' report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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the information given in the trustees' report including the group strategic report for the financial year for which the financial statements are prepared is consistent with the financial statements.
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the trustees' report and the group strategic report have been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees' report including the group strategic report.
We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:
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the parent charitable company has not kept adequate and sufficient accounting records, or returns adequate for our audit have not been received from branches not visited by us; or
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the parent charitable company financial statements are not in agreement with the accounting records and returns; or
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certain disclosures of trustees' remuneration specified by law are not made; or
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we have not received all the information and explanations we require for our audit.
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DocuSign Envelope ID: C46EB02D-7FCD-431C-BB3C-0DF4A5B2B240
LEWES COMMUNITY SCREEN
(A company limited by guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF LEWES COMMUNITY SCREEN (CONTINUED)
Responsibilities of trustees
As explained more fully in the trustees' responsibilities statement, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the Group's and the parent charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the Group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.
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DocuSign Envelope ID: C46EB02D-7FCD-431C-BB3C-0DF4A5B2B240
LEWES COMMUNITY SCREEN (A company limited by guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF LEWES COMMUNITY SCREEN (CONTINUED)
Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
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Enquiry of management and those charged with governance;
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Reviewing financial statement disclosures and testing to supporting documentation to assess compliance;
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Performing audit work over the risk of management override of controls, including testing of journal entries; and - other adjustments for appropriateness, evaluating the rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.
As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:
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Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
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Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion of the effectiveness of the charitable company's internal control.
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Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees.
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Conclude on the appropriateness of the trustees' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charitable company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditors' report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditors' report. However, future events or conditions may cause the charitable company to cease to continue as a going concern.
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Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
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Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the Group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the Group audit. We remain solely responsible for our audit opinion.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we
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DocuSign Envelope ID: C46EB02D-7FCD-431C-BB3C-0DF4A5B2B240
LEWES COMMUNITY SCREEN (A company limited by guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF LEWES COMMUNITY SCREEN (CONTINUED)
identify during our audit.
Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.
Robert Smith (senior statutory auditor)
for and on behalf of
Griffin Stone Moscrop & Co Chartered Accountants Statutory Auditors 21-27 Lamb's Conduit Street London WC1N 3GS
22 December 2022
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DocuSign Envelope ID: C46EB02D-7FCD-431C-BB3C-0DF4A5B2B240
LEWES COMMUNITY SCREEN
(A company limited by guarantee)
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2022
| Note Income from: Donations, sponsorship and grants 2 Charitable activities: 3 . Operation of a community cinema Trading activities: . Income from subsidiary company Investments 4 Total income Expenditure on: Raising funds: 5 Expenditure on subsidiary company Investment management costs Charitable activities 6 Total expenditure Net (expenditure)/income before net gains/(losses) on investments Net gains/(losses) on investments Net (expenditure)/income Transfers between funds 17 Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2022 £ 227,830 785,233 1,076,856 59,164 2,149,083 1,076,856 78 1,203,498 2,280,432 (131,349) 101,753 (29,596) 15,340 (14,256) 13,063,671 (14,256) 13,049,415 |
Restricted funds 2022 £ 25,812 - - - 25,812 - - 18,121 18,121 7,691 - 7,691 (15,340) (7,649) 21,011 (7,649) 13,362 |
Total funds 2022 £ 253,642 785,233 1,076,856 59,164 2,174,895 1,076,856 78 1,221,619 2,298,553 (123,658) 101,753 (21,905) - (21,905) 13,084,682 (21,905) 13,062,777 |
Total funds 2021 £ 1,811,995 137,394 328,132 20,096 2,297,617 328,132 8,004 1,521,283 1,857,419 440,198 (146,268) 293,930 - 293,930 12,790,752 293,930 13,084,682 |
|---|---|---|---|---|
The Consolidated statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 16 to 35 form part of these financial statements.
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DocuSign Envelope ID: C46EB02D-7FCD-431C-BB3C-0DF4A5B2B240
LEWES COMMUNITY SCREEN (A company limited by guarantee) REGISTERED NUMBER: 8298751
CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2022
| Note Fixed assets Tangible assets 11 Investments 12 Current assets Stocks 13 Debtors 14 Cash at bank and in hand Creditors: amounts falling due within one year 15 Net current assets Net assets Charity funds Restricted funds 17 Unrestricted funds 17 Total funds |
13,219 42,905 431,550 487,674 (112,012) |
2022 £ 8,412,174 4,274,941 12,687,115 375,662 13,062,777 13,362 13,049,415 13,062,777 |
12,942 52,664 652,804 718,410 (54,919) |
2021 £ 8,563,494 3,857,697 |
|---|---|---|---|---|
| 12,421,191 663,491 |
||||
| 13,084,682 | ||||
| 21,011 13,063,671 |
||||
| 13,084,682 |
The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements were approved and authorised for issue by the trustees and signed on their behalf by:
................................................ Robert Norman Senior Trustee
Date: 22 December 2022
The notes on pages 16 to 35 form part of these financial statements.
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DocuSign Envelope ID: C46EB02D-7FCD-431C-BB3C-0DF4A5B2B240
LEWES COMMUNITY SCREEN (A company limited by guarantee) REGISTERED NUMBER: 8298751
CHARITABLE COMPANY BALANCE SHEET AS AT 31 MARCH 2022
| Note Fixed assets Tangible assets 11 Investments 12 Current assets Debtors 14 Cash at bank and in hand Creditors: amounts falling due within one year 15 Net current assets Net assets Charity funds Restricted funds 17 Unrestricted funds 17 Total funds |
86,095 360,410 446,505 (70,844) |
2022 £ 8,412,174 4,274,942 12,687,116 375,661 13,062,777 - 13,062,777 13,062,777 |
87,752 624,975 712,727 (49,237) |
2021 £ 8,563,494 3,857,698 |
|---|---|---|---|---|
| 12,421,192 663,490 |
||||
| 13,084,682 | ||||
| 21,011 13,063,671 |
||||
| 13,084,682 |
The charitable company's net movement in funds for the year was £(21,905) (2021 - £293,930).
The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements were approved and authorised for issue by the trustees and signed on their behalf by:
................................................
Robert Norman Senior Trustee
Date: 22 December 2022
The notes on pages 16 to 35 form part of these financial statements.
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DocuSign Envelope ID: C46EB02D-7FCD-431C-BB3C-0DF4A5B2B240
LEWES COMMUNITY SCREEN
(A company limited by guarantee)
CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2022
| Note Cash flows from operating activities Net cash provided by operating activities 19 Cash flows from investing activities Dividends, interests and rents from investments Proceeds from the sale of tangible fixed assets Purchase of tangible fixed assets Proceeds from sale of investments Purchase of investments Net cash used in investing activities Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year 20 |
2022 £ 69,278 59,164 50 (34,255) - (315,491) (290,532) (221,254) 652,804 431,550 |
2021 £ 755,019 20,096 - (63,123) 4,207,341 (8,211,306) (4,046,992) (3,291,973) 3,944,777 652,804 |
|---|---|---|
The notes on pages 16 to 35 form part of these financial statements
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DocuSign Envelope ID: C46EB02D-7FCD-431C-BB3C-0DF4A5B2B240
LEWES COMMUNITY SCREEN (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
1. Accounting policies
1.1 Basis of preparation of financial statements
The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the charitable company, and are rounded to the nearest £1.
The preparation of financial statements in compliance with the Charities SORP (FRS 102) and FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the charitable company's accounting policies (see Note 26).
Lewes Community Screen meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
The consolidated statement of financial activities (SOFA) and consolidated balance sheet consolidate the financial statements of the charitable company and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis.
The charitable company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own statement of financial activities in these financial statements.
1.2 Company status
Lewes Community Screen is a company limited by guarantee. The members of the charitable company are two of the trustees named on page 1. In the event of the charitable company being wound up, the liability in respect of the guarantee is limited to £1 per member of the charitable company.
1.3 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the Group and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Group for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
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DocuSign Envelope ID: C46EB02D-7FCD-431C-BB3C-0DF4A5B2B240
LEWES COMMUNITY SCREEN (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
1. Accounting policies (continued)
1.4 Income
Income is recognised at the fair value of consideration received or receivable for donations and the sale of goods and services to customers in the ordinary nature of business.
Income generated by the parent company includes ticket sales, income from private screenings, and income from running courses and workshops (excluding value added tax). Ticket sales and income from private screenings are recognised as the film is shown. Income from running courses is recognised in the period to which it relates.
Income generated by the subsidiary company includes sales of food and beverages (excluding value added tax). All income generated by the subsidiary company is recognised at the point of sale.
Grants are included in the consolidated statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity.
Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Support costs are those costs incurred directly in support of expenditure on the objects of the charitable company.
Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.
Charitable activities and governance costs are costs incurred on the charitable company's operations, including support costs and costs relating to the governance of the company.
Page 17
DocuSign Envelope ID: C46EB02D-7FCD-431C-BB3C-0DF4A5B2B240
LEWES COMMUNITY SCREEN (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
1. Accounting policies (continued)
1.6 Going concern
The coronavirus pandemic has significantly disrupted individuals’ personal lives and businesses’ economic prospects in the UK and across the globe. There has been a significant effect of COVID-19 on the group. The trustees have managed to conserve sufficient cash to ensure the charitable company and its subsidiary company have continued to serve beneficiaries and customers, and to act responsibly with suppliers.
The trustees have continued to prepare the financial statements on a going concern basis and deem this appropriate. The trustees do not consider that a material uncertainty about the going concern status exists. In making this assessment the trustees have considered the likely operating and trading conditions for a period of twelve months from the date of approving these financial statements.
1.7 Basis of consolidation
The financial statements consolidate the financial statements of Lewes Community Screen and its subsidiary company.
The charitable company has taken advantage of the exemption contained within section 408 of the Companies Act 2006 not to present its own income and expenditure account.
The net expenditure (2021 - income) for the year dealt with in the financial statements of the charitable company was £21,905 (2021 - £293,90).
1.8 Government grants
Government grants relating to tangible fixed assets are treated as deferred income and released to the consolidated statement of financial activities over the expected useful lives of the assets concerned. Other grants are credited to the consolidated statement of financial activities as the related expenditure is incurred.
Page 18
DocuSign Envelope ID: C46EB02D-7FCD-431C-BB3C-0DF4A5B2B240
LEWES COMMUNITY SCREEN (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
1. Accounting policies (continued)
1.9 Tangible fixed assets and depreciation
Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment.
At each reporting date the charitable company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined to be the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
Depreciation is provided at rates calculated to write off the cost of tangible fixed assets, less their estimated residual values, over their expected useful lives on the following bases:
- Freehold property 2% straight line - Equipment 25% straight line
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the consolidated statement of financial activities.
1.10 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charitable company; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
1.11 Investments
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the consolidated statement of financial activities.
Investments in subsidiaries are valued at cost less provision for impairment.
1.12 Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
1.13 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Page 19
DocuSign Envelope ID: C46EB02D-7FCD-431C-BB3C-0DF4A5B2B240
LEWES COMMUNITY SCREEN (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
1. Accounting policies (continued)
1.14 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
1.15 Liabilities and provisions
Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the charitable company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the consolidated statement of financial activities as a finance cost.
1.16 Financial instruments
The Group only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
1.17 Pensions
The Group operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Group to the fund in respect of the year.
Page 20
DocuSign Envelope ID: C46EB02D-7FCD-431C-BB3C-0DF4A5B2B240
LEWES COMMUNITY SCREEN (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
2. Income from donations, sponsorship and grants
| Unrestricted funds 2022 £ Donations and sponsorship 677 Grants 95,201 Government grants 131,952 Total 2022 227,830 Total 2021 1,795,518 |
Restricted funds 2022 £ - 25,812 - 25,812 16,477 |
Total funds 2022 £ 677 121,013 131,952 253,642 1,811,995 |
Total funds 2021 £ 1,261,474 16,477 534,044 |
|---|---|---|---|
| 1,811,995 | |||
3. Income from charitable activities
| Unrestricted funds 2022 £ Operation of a community cinema 785,233 Total 2022 785,233 Total 2021 137,369 |
Restricted funds 2022 £ - - 25 |
Total funds 2022 £ 785,233 785,233 137,394 |
Total funds 2021 £ 137,394 |
|---|---|---|---|
| 137,394 | |||
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DocuSign Envelope ID: C46EB02D-7FCD-431C-BB3C-0DF4A5B2B240
LEWES COMMUNITY SCREEN (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
4. Investment income
| Unrestricted funds 2022 £ Income from local listed investments 59,135 Investment income - local cash 29 Total 2022 59,164 Total 2021 20,096 |
Total funds 2022 £ 59,135 29 59,164 20,096 |
Total funds 2021 £ 18,936 1,160 |
|---|---|---|
| 20,096 | ||
5. Investment management costs
| Unrestricted funds 2022 £ Investment management fees 78 Total 2022 78 Total 2021 8,004 |
Total funds 2022 £ 78 78 8,004 |
Total funds 2021 £ 8,004 |
|---|---|---|
| 8,004 | ||
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DocuSign Envelope ID: C46EB02D-7FCD-431C-BB3C-0DF4A5B2B240
LEWES COMMUNITY SCREEN (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
6. Analysis of expenditure on charitable activities
Summary by fund type
| Unrestricted funds 2022 £ Operation of a community cinema 1,203,498 Total 2022 1,203,498 Total 2021 1,499,651 |
Restricted funds 2022 £ 18,121 18,121 21,632 |
Total funds 2022 £ 1,221,619 1,221,619 1,521,283 |
Total funds 2021 £ 1,521,283 |
|---|---|---|---|
| 1,521,283 | |||
Summary by expenditure type
| Operation of a community cinema Total 2021 |
Staff costs 2022 Depreciation 2022 £ £ 408,124 185,575 812,069 309,109 |
Other costs 2022 £ 627,920 400,105 |
Total funds 2022 £ 1,221,619 1,521,283 |
Total funds 2021 £ 1,521,283 |
|---|---|---|---|---|
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DocuSign Envelope ID: C46EB02D-7FCD-431C-BB3C-0DF4A5B2B240
LEWES COMMUNITY SCREEN (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
7. Expenditure on general charitable activities
| Operation of a community cinema Total 2021 |
Activities undertaken directly 2022 £ 547,822 547,184 |
Grant funding of activities 2022 £ 1,918 - |
Support costs 2022 £ 671,879 974,099 |
Total funds 2022 £ 1,221,619 1,521,283 |
Total funds 2021 £ 1,521,283 |
|---|---|---|---|---|---|
Analysis of direct costs
| Staff costs Operating expenses Film and other direct expenses Ticket processing charges Confectionery, catering etc Total 2021 |
Operation of a community cinema 2022 £ 200,855 28,442 262,001 32,266 24,258 547,822 547,184 |
Total funds 2022 £ 200,855 28,442 262,001 32,266 24,258 547,822 547,184 |
Total funds 2021 £ 472,452 8,662 53,152 10,683 2,235 |
|---|---|---|---|
| 547,184 | |||
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DocuSign Envelope ID: C46EB02D-7FCD-431C-BB3C-0DF4A5B2B240
LEWES COMMUNITY SCREEN (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
7. Expenditure on general charitable activities (continued)
Analysis of support costs
| Advertising and promotion Website hosting and maintenance Rates Insurance Legal and professional fees General office expenses Bank charges Entertainment Light and heat Telephone and internet Repairs and maintenance Cleaning IT software and consumables Operating expenses Staff training and recruitment Premises transactions Travel Loss/(profit) on the sale of fixed assets Amortisation Staff costs Depreciation Auditors' remuneration - other services Auditors' remuneration - audit Total 2021 |
Operation of a community cinema 2022 £ 5,475 - 4,561 23,759 25,362 8,370 1,387 1,020 53,870 8,724 35,531 49,105 15,260 - 13,710 13,738 619 (50) - 207,269 185,575 5,640 12,954 671,879 974,099 |
Total funds 2022 £ 5,475 - 4,561 23,759 25,362 8,370 1,387 1,020 53,870 8,724 35,531 49,105 15,260 - 13,710 13,738 619 (50) - 207,269 185,575 5,640 12,954 671,879 974,099 |
Total funds 2021 £ 4,148 4,247 - 26,934 25,723 4,083 1,091 - 63,816 7,250 116,461 20,912 11,874 - 4,508 13,408 13 58 1,117 339,617 309,109 6,780 12,950 |
|---|---|---|---|
| 974,099 | |||
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DocuSign Envelope ID: C46EB02D-7FCD-431C-BB3C-0DF4A5B2B240
LEWES COMMUNITY SCREEN (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
8. Trustees' remuneration and expenses
During the year, no trustees received any remuneration or other benefits (2021 - £NIL).
During the year ended 31 March 2022, no trustee expenses have been incurred (2021 - £3,853).
9. Auditors' remuneration
Auditors' remuneration of the group comprises audit fees of £8,640 (2021 - £9,780) and accountancy and payroll charges etc of £14,233 (2021 - £14,881).
Auditors' remuneration of the company comprises an audit fee of £5,640 (2021 - £6,780) and accountancy and payroll charges etc of £12,954 (2021 - £12,950).
10. Staff costs
| Wages and salaries Social security costs Other pension costs |
Group 2022 £ 971,328 64,612 18,456 1,054,396 |
Group 2021 £ 940,445 57,992 18,274 1,016,711 |
Company 2022 £ 374,309 25,971 7,844 408,124 |
Company 2021 £ 746,249 47,546 18,274 |
|---|---|---|---|---|
| 812,069 |
All employees are employed by the charitable company. However, staff costs specifically relating to the trading subsidiary are recharged by the charitable company to the trading subsidiary under a Shared Resources Agreement. During the year, such costs amounted to £646,313 (2021 - £205,543) and have been netted off in arriving at the figures in the "Company" columns above.
The average number of persons employed by the charitable company during the year was as follows:
| Administration and management Bar and restaurant |
Group 2022 No. 23 41 64 |
Group 2021 No. 26 42 |
|---|---|---|
| 68 |
No employee received remuneration amounting to more than £60,000 in either year.
Total remuneration, including employee benefits, paid to key management personnel amounted to £57,025 (2021 - £50,839).
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DocuSign Envelope ID: C46EB02D-7FCD-431C-BB3C-0DF4A5B2B240
LEWES COMMUNITY SCREEN (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
11. Tangible fixed assets Group and Company
| Cost At 1 April 2021 Additions At 31 March 2022 Depreciation At 1 April 2021 Charge for the year At 31 March 2022 Net book value At 31 March 2022 At 31 March 2021 |
Freehold property £ 9,061,593 24,227 9,085,820 552,166 145,263 697,429 8,388,391 8,509,427 |
Equipment etc £ 658,479 10,028 668,507 604,412 40,312 644,724 23,783 54,067 |
Total £ 9,720,072 34,255 |
|---|---|---|---|
| 9,754,327 | |||
| 1,156,578 185,575 |
|||
| 1,342,153 | |||
| 8,412,174 | |||
| 8,563,494 |
Page 27
DocuSign Envelope ID: C46EB02D-7FCD-431C-BB3C-0DF4A5B2B240
LEWES COMMUNITY SCREEN
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
12. Fixed asset investments
Investment
| charitable company Cost or valuation At 1 April 2021 Additions Revaluations At 31 March 2022 |
in subsidiary undertaking £ 1 - - 1 |
Listed investments £ 3,857,697 315,491 101,753 4,274,941 |
Total £ 3,857,698 315,491 101,753 |
|---|---|---|---|
| 4,274,942 |
The investment in subsidiary undertaking relates to 1 ordinary share of £1 in Lewes Community Screen (Trading) Limited (company number 10698777), representing 100% of the issued share capital of that company.
During the year Lewes Community Screen (Trading) Limited generated a profit of £nil (2021 - the same), comprising turnover of £1,076,856 (2021 - £328,132) less expenditure of £1,076,856 (2021 - £328,132). At 31 March 2022 Lewis Community Screen (Trading) Limited's net assets totalled £1 (2021 - the same), comprising total assets of £84,359 (2021 - £40,771) less total liabilities of £84,358 (2021 - £40,770).
13. Stocks
| Group | Group | |
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Food and wet goods | 13,219 | 12,942 |
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DocuSign Envelope ID: C46EB02D-7FCD-431C-BB3C-0DF4A5B2B240
LEWES COMMUNITY SCREEN
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
14. Debtors
| Group 2022 £ Due within one year Trade debtors 4,708 Amount owed by group undertaking - Other debtors 16,775 Prepayments and accrued income 21,422 42,905 15. Creditors: amounts falling due within one year Group 2022 £ Trade creditors 54,046 Other taxation and social security 28,356 Other creditors 342 Accruals 29,268 112,012 16. Financial instruments Group 2022 £ Financial assets Financial assets measured at fair value through income and expenditure 431,550 |
Group 2021 £ 1,646 - 22,660 28,358 52,664 Group 2021 £ 22,416 - 74 32,429 54,919 Group 2021 £ 652,804 |
Company 2022 £ 4,708 43,190 16,775 21,422 86,095 Company 2022 £ 17,978 28,356 342 24,168 70,844 Company 2022 £ 360,410 |
Company 2021 £ 1,646 35,088 22,660 28,358 |
|---|---|---|---|
| 87,752 | |||
| Company 2021 £ 21,834 - 74 27,329 |
|||
| 49,237 | |||
| Company 2021 £ 624,975 |
Financial assets measured at fair value through income and expenditure comprise cash at bank and in hand (2021 - the same).
Page 29
DocuSign Envelope ID: C46EB02D-7FCD-431C-BB3C-0DF4A5B2B240
LEWES COMMUNITY SCREEN (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
17. Statement of funds
Statement of funds - current year
| Designated fund Fixed assets fund General fund General fund Total Unrestricted funds Restricted funds Young Film Programmers Dementia Friendly Screenings Shifting Ground Food Waste Education Mental Health on Film French Film Festival Total of funds |
Balance at 1 April 2021 £ 8,563,495 4,500,176 13,063,671 10,104 8,675 588 1,644 - - 21,011 13,084,682 |
Income £ - 2,149,083 2,149,083 19,663 - - - 4,450 1,699 25,812 2,174,895 |
Expenditure £ - (2,280,432) (2,280,432) (14,427) (923) (588) - (484) (1,699) (18,121) (2,298,553) |
Transfers in/out £ (151,321) 166,661 15,340 (15,340) - - - - - (15,340) - |
Gains/ (Losses) £ - 101,753 101,753 - - - - - - - 101,753 |
Balance at 31 March 2022 £ 8,412,174 |
|---|---|---|---|---|---|---|
| 4,637,241 | ||||||
| 13,049,415 | ||||||
| - 7,752 - 1,644 3,966 - |
||||||
| 13,362 | ||||||
| 13,062,777 |
Page 30
DocuSign Envelope ID: C46EB02D-7FCD-431C-BB3C-0DF4A5B2B240
LEWES COMMUNITY SCREEN (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
17. Statement of funds (continued)
Statement of funds - prior year
| Designated fund Fixed assets fund General fund General fund Total Unrestricted funds Restricted funds Young Film Programmers Dementia Friendly Screenings Shifting Ground Food Waste Education BFI Culture Recovery Total of funds |
Balance at 1 April 2020 £ 8,810,655 3,953,956 12,764,611 14,659 8,650 1,188 1,644 - 26,141 12,790,752 |
Income £ - 2,281,115 2,281,115 14,129 25 - - 2,348 16,502 2,297,617 |
Expenditure £ - (1,835,787) (1,835,787) (18,684) - (600) - (2,348) (21,632) (1,857,419) |
Transfers in/out £ (247,160) 247,160 - - - - - - - - |
Gains/ (Losses) £ - (146,268) (146,268) - - - - - - (146,268) |
Balance at 31 March 2021 £ 8,563,495 |
|---|---|---|---|---|---|---|
| 4,500,176 | ||||||
| 13,063,671 | ||||||
| 10,104 8,675 588 1,644 - |
||||||
| 21,011 | ||||||
| 13,084,682 |
Page 31
DocuSign Envelope ID: C46EB02D-7FCD-431C-BB3C-0DF4A5B2B240
LEWES COMMUNITY SCREEN (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
16. Statement of funds (continued)
The designated fixed assets fund represents an amount set aside by the trustees equal to the net book value of the charitable company's intangible and tangible fixed assets.
The general fund represents the group's free reserves, after allowing for the designated fixed assets fund.
The transfer of £151,321 from the fixed assets fund to the general fund is an amount equal to the amortisation and depreciation charges relating to the year, net of the charitable company's expenditure on intangible and tangible fixed assets and subsequent disposals during the year.
The Young Film Programmers fund is supported by Film Hub South East, and represents income and expenses for the development of a new network of Young Programmers' Groups across the sub-region, which works with a range of organisations found in places where cinema provision for young and diverse audiences remains inconsistent and/or below average. The transfer of £15,340 from this fund to the general fund is in respect of expenses for the Young Film Programmers project which were drawn from the general fund in previous years in error.
The Mental Health on Film fund is supported by Film Hub North, and represents funding to enhance marketing plans and digital assets, and to create publicity opportunities to maximise audiences for the Young Film Programmers project.
The Dementia Friendly Screenings fund is supported by Lewes Town Council, and represents income and expenditure relating to the provision of screenings for people living with dementia in and around Lewes.
The Shifting Ground fund is supported by Film Hub North, and represents income and expenses for the screening of archive film for both family and youth audiences. Expenditure drawn from this fund includes costs related to marketing, venue-related and speaker fees and film hire.
The Food Education fund is supported by October Feast, an initiative that has now changed hands, and represents income and expenses relating to the running of an educational film production programme which is aimed at raising awareness about food wastage. As a result of the COVID-19 pandemic, the programme has been temporarily paused and will be restarted once it is considered safe enough for young people to resume working together at the Depot.
The BFI Culture Recovery fund was supported by The British Film Institute, and represents income and expenses to enable the Depot to put the necessary measure in place to ensure the safety of its workforce and the public.
The French Film Festival fund is supported by UniFrance Commission. The Commission offer selective grants to UK-based arthouse cinemas. The fund represents income and expenditure for the promotion of French films released by UK distributors.
Page 32
DocuSign Envelope ID: C46EB02D-7FCD-431C-BB3C-0DF4A5B2B240
LEWES COMMUNITY SCREEN (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
18. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Unrestricted funds 2022 £ Intangible fixed asset 8,412,174 Fixed asset investments 4,274,941 Current assets 474,312 Creditors due within one year (112,012) Total 13,049,415 |
Restricted funds 2022 £ - - 13,362 - 13,362 |
Total funds 2022 £ 8,412,174 4,274,941 487,674 (112,012) 13,062,777 |
|---|---|---|
Analysis of net assets between funds - prior year
| Intangible fixed assets Fixed asset investments Current assets Creditors due within one year Total |
Unrestricted funds 2021 £ 8,563,494 3,857,697 697,399 (54,919) 13,063,671 |
Restricted funds 2021 £ - - 21,011 - 21,011 |
Total funds 2021 £ 8,563,494 3,857,697 718,410 (54,919) 13,084,682 |
|---|---|---|---|
Page 33
DocuSign Envelope ID: C46EB02D-7FCD-431C-BB3C-0DF4A5B2B240
LEWES COMMUNITY SCREEN (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
19. Reconciliation of net movement in funds to net cash flow from operating activities
| Net income/expenditure for the year (as per Statement Activities) Adjustments for: Depreciation charges Amortisation charges Gains/(losses) on investments Dividends, interests and rents from investments Loss/(profit) on the sale of fixed assets Increase in stocks Decrease in debtors Increase/(decrease) in creditors Net cash provided by operating activities 20. Analysis of cash and cash equivalents Cash in hand Total cash and cash equivalents 21. Analysis of changes in net debt Cash at bank and in hand |
of Financial At 1 April 2021 £ 652,804 652,804 |
Group 2022 £ (21,905) 185,575 - (101,753) (59,164) (50) (277) 9,759 57,093 69,278 Group 2022 £ 431,550 431,550 Cash flows £ (221,254) (221,254) |
Group 2021 £ 293,930 309,109 1,117 146,268 (20,096) 58 (5,922) 124,764 (94,209) 755,019 Group 2021 £ 652,804 652,804 At 31 March 2022 £ 431,550 431,550 |
|---|---|---|---|
Page 34
DocuSign Envelope ID: C46EB02D-7FCD-431C-BB3C-0DF4A5B2B240
LEWES COMMUNITY SCREEN (A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
22. Pension commitments
The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the group to the fund and amounted to £18,456 (2021 - £18,274). No contributions were payable to the fund at the balance sheet date.
23. Related party transactions
Income from donations includes £nil (2021 - £1,000,000) received from one of the charitable company's trustees.
24. Controlling party and key management personnel
The charitable company is controlled by two of the trustees, who are its only members. Whilst the trustees are responsible for the overall management of the charitable company, as detailed in the trustees' report, the day-to-day running of the charity is delegated to the administrator, one of the organisation's employees.
25. Principal subsidiaries
The following was a subsidiary undertaking of the charitable company:
The financial results of the subsidiary for the year were:
26. General information
Lewes Community Screen is a charitable company incorporated and registered in England and Wales. Its registered office address is 18 Keere Street, Lewes, East Sussex, BN7 1TY.
27. Judgements in applying accounting policies and key sources of estimation uncertainty
In the application of the charitable company's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. However, there are no judgements or assumptions that have a significant risk of causing material adjustment.
Page 35