c/o Artlink Centre for Community Arts
87 Princes Avenue, Hull, HU5 3QP
Email hello@hullindependentcinema.com
Web hullindependentcinema.com
HULL INDEPENDENT CINEMA PROJECT
(A CHARITABLE INCORPORATED ORGANISATION) Report and Financial Statements Year ending 30 September 2024 Charity number: 1163544
Hull Independent Cinema Project, operating as Hull Independent Cinema, is a Charitable Incorporated Organisation (registration no 1163544) and is recognised as a charity for tax purposes by HM Revenue and Customs.
HIC is proudly supported by Film Hub North, part of the BFI Film Audience Network.
HULL INDEPENDENT CINEMA PROJECT
Trustees’ annual report for the year ending 30 September 2024
The trustees are pleased to present their annual trustees’ report together with the consolidated financial statements of the charity for the year ending 30 September 2024
The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association (The Constitution) and Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities.
Chair’s Report
This report covers our most recent full financial year, 1 October 2023 to 30 September 2024. We are pleased to report a full year of programming and film screenings and continuing partnerships.
During this period we put on a total of 61 screenings: 59 as part of our core programme and two more as part of the SAFAR Festival of Arab Cinema. At our screening of documentary TISH in June 2024 we were delighted to welcome the film’s producer and narrator as our special guests who took part in a Q&A session with a sold-out audience. In November we welcomed the film’s director to our screening of the documentary ON OUR DOORSTEP for a Q&A session; at this film and our screening the following week of Ken Loach’s THE OLD OAK we were proud to collect cash food and equipment to be donated to Hull Help for Refugees; thank you to everyone who made a donation to such a great cause. We also continued our Audience Choice Screenings this year, offering our audiences the chance to get more involved in deciding what films we show.
Our involvement as a host of SAFAR Film Festival was our third year working with the Arab British Centre to put on film screenings celebrating the best of independent Arab cinema. We would like to offer our thanks to them for involving us in their fantastic event and for allocating some of their funding to support our screenings.
We also received direct funding from Film Hub North, awarding National Lottery funds on behalf of the BFI’s Film Audience Network, to support our core film programme up to 31 March 2024. This funding enabled us to continue our free ticket scheme, offering people the chance to come and see our films who might otherwise be prevented from doing so due to the financial, geographical, cultural or other barriers they experience. Although our funding support only ran until the end of March 2024 we took the decision to continue offering the free ticket scheme at our own expense after then, and continue to welcome queries from local charities and community groups that might benefit from it.
FHN funding support more generally enables us to continue to take risks with our programming, offering local audiences the chance to see films at great value prices that would not otherwise get shown in Hull. The FHN funding gave us the security to experiment with dropping our prices from £7 to £5 (with an additional £1 discount for HIC members) from January 2024 onwards as we continue our efforts to get audience numbers back to the levels they were at before the Covid pandemic. This has proved to be a success, with audience numbers increasing sufficiently to offset the reduced financial income per ticket, helping us to reach more people than before: our average audience per screening in the 2023/24 year was nearly 50% higher than in the previous year! We have kept tickets at the new lower price since then.
As Chair of the Board, I must pay tribute to the hard work of my fellow Trustees, who give their time and skills to run the charity completely voluntarily, and on behalf of the HIC Trustee Board, I want to thank our audiences, members and volunteers for you r continuing support. Nothing HIC does would be possible without you. Thank you.
James Russell Chair of Trustees
2
Our purposes and activities
The purposes of the charity are:
To advance the education of the public in the knowledge, understanding and appreciation of the art of film, in particular but not exclusively by:
(a) the screening of films of artistic merit and educative value in and around the city of Kingston Upon Hull; and
(b) establishing, maintaining and providing educational programmes, exhibition space and production facilities.
Our charity has considered its public benefit aims as a charity; we undertake screenings and work to further the understanding and appreciation of world, independent, documentary and art-house cinema on a non-profit basis. Our programming provides Hull audiences with the opportunity to see great films that would otherwise not be shown in the city. Our film screenings are priced so as to be as accessible as possible whilst covering the costs of screenings and enabling the charity to maintain reserves to provide financial resilience. We introduced an Audience Choice screening two years ago to engage our audiences more directly with our programming and continue with this each quarterly season. Our free ticket scheme, operating since November 2022 at our core programme screenings and the second year of the SAFAR film festival, enables new audiences to engage with our work.
| The screeningfigures for 1 October 2023-30 September 2024 are as follows: | The screeningfigures for 1 October 2023-30 September 2024 are as follows: | The screeningfigures for 1 October 2023-30 September 2024 are as follows: |
|---|---|---|
| Screeningtype | No. of films/screenings | Total audience attendance |
| Full-length world, independent and art-house film (including SAFAR Film Festival 2024 and other special / partnershipevents) |
61 | 4,586 |
| For comparison, our screenings from 1 October 2022–30 September 2023 were as follows: | ||
Screeningtype |
No. of films/screenings |
Total audience attendance |
| Full-length world, independent and art-house film (including SAFAR Film Festival 2023 and other special / partnershipevents) |
60 | 3,049 |
Financial review
In the current financial year our accounts show a surplus. The charity also benefits from historic reserves. In 2021-22, Hull Independent Cinema returned a deficit set of accounts. Last year and this year’s surplus position has only been possible due to grant funding in the previous financial year, which has helped covered core costs of running Hull Independent Cinema and, most importantly, the main costs associated with film screenings, which include screening room hire, film licences and marketing. The organisation has not been in receipt of any grant funding in 2023-24 but intends to apply for future funding, in line with the Hull Independent Cinema development strategy.
The organisation retains over £5,000 in its reserve account. This is in line with the organisation’s financial management policy, which would allow for circa 6 months running costs of core costs and film screening, taking account of the income this would generate.
Reserves policy and going concern
Our current reserves policy is to retain an amount sufficient to cover the costs of running the organisation and our regular weekly film programme for a period of six months. The benefits of such a policy were clearly demonstrated during the pandemic shutdown, when we had no income beyond a small number of donations but were able to use reserves to cover our ongoing overhead.
This policy is kept under review by the Trustees. The charity has sufficient income and reserves after liabilities to prepare the accounts on a going concern basis.
3
Plans for the future period
At the time of writing in May 2025 we have put in grant applications to Film Hub North and Hull City Council for which we are awaiting confirmation. If successful, we will use this funding to support some specific project work, but the bulk of the funding will be used to employ (or engage as a freelance) a part-time Audience Development Producer. We have identified audience outreach as a key development goal for the organisation but our existing Trustee Board does not have the time or capacity to devote to this work.
Whether or not we are successful in attracting funding support for this post, we will continue during the 2024-25 year to put together a core programme of the best films from Britain and around the world that Hull audiences would not otherwise have the chance to see. We are planning to be a host for the 2025 SAFAR Film Festival once again. In addition, at the time of writing we are about to spend two weeks celebrating the history of LGBTQ+ cinema in our first ever QUEER Season.
We are always looking for new Trustees to join the organisation, and welcome expressions of interest from anyone who is interested in providing their time in support of the work that HIC does.
Reference and administrative details
Charity number: 1163544
Registered office: C/O Artlink, 87 Princes Avenue, Hull, HU5 3QP
Bankers: The Co-operative Bank, 1 Balloon Street, Manchester, M60 4EP
Hull and East Yorkshire Credit Union, 38 Brook Street, Hull, HU2 8LA
Trustees at 30 September 2024
Chair James Russell (Chair of Trustees) Trustees Ruby Bradshaw, Ellie Irwin, Carla Ramsay (Honorary Treasurer and Company Secretary), Theo Rintoul, Samuel Sims, Matthew Smith, Philip Stevens, Paul Terry
Hull Independent Cinema did not have any employees during 2023-24
Structure, governance and management
HIC is governed by its Constitution and managed by a Trustee Board of up to twelve. Trustees may be elected or appointed by the Trustee Board with that appointment confirmed by the members at the next AGM.
The Trustees are volunteers and do not receive any remuneration for their role as Trustees. They are paid expenses in accordance with HIC’s Expenses Policy for any out of pocket expenses incurred as part of their duties.
At the 2024 AGM, Trustees James Russell, Matthew Smith and Philip Stevens retired by rotation and stood for re-election. In addition, the November 2023 appointment of Ruby Bradshaw was confirmed by election at a Trustee meeting.
Trustee terms of office will expire according to the process set out in Clause 12 of our Constitution.
4
Trustees’ responsibilities in relation to the financial statements
The Trustees are responsible for preparing the annual report and accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The Trustees are required to prepare financial statements for each year that are a true and fair view of the state of affairs of the charitable organisation and the incoming resources and the application of those resources, including income and expenditure for that period. In preparing these financial statements, the trustees are required to:
-
Select suitable accounting policies and apply them consistently
-
Observe the methods and principles in the Charities Commission SORP
-
Make judgements and estimates that are reasonable and prudent
-
State whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements
-
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue its business
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Statement as to disclosure
In so far as the Trustees are aware at the time of approving our annual report:
-
There is no relevant information discovered in preparing this report that is not disclosed in this document and
-
The Trustees, having made enquiries of each other, have taken all steps that they are obliged to take as a Trustee in order to make themselves aware of any relevant information and to establish that they are aware of that information
By order of the board of trustees.
Signed:
James Russell (Chair), 29 May 2025
5
LEFT PURPOSELY BLANK
----- Start of picture text -----
Hull Independent Cinema Project No 1163544
----- End of picture text -----
Recei ts and a ments accounts p p y For the period 01-Oct-2023 30-Sep-2024 To from
CC16a
Section A Receipts and payments Unrestricted Restricted Endowment Total funds Last year funds funds funds to nearest £ to nearest £ to nearest £ to nearest £ to nearest £ A1 Receipts Donations and legacies 211 0 - 211 66 Grants 0 0 - 0 8,290 Income from charitable activities Film screenings and membership 25645 0 - 25856 20,871 Income from other sources 0 0 - 0 0 Investment income 0 0 - 0 0 25856 0 - 25856 29,227 Sub total (Gross income for AR) A2 Asset and investment sales - Total receipts 25856 0 - 25856 29,227
7
A3 Payments
| 0 | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 22711 | ||||||||||||
| 1,056 | ||||||||||||
| 0 | ||||||||||||
| 23767 | ||||||||||||
| - | - | - | - | - | ||||||||
| 1389 (1389) 1389 0 |
- - - - - |
25465 391 14,008 14,399 |
||||||||||
| 23767 | ||||||||||||
| (1389) | - | 391 | 5460 | |||||||||
| - | - | |||||||||||
| 1389 | - | 14,008 | 8,548 | |||||||||
| 0 | - | 14,399 | 14,008 |
8
Section B Statement of assets and liabilities at the end of the period
| Categories nds onetary assets ent assets retained for the wn use |
Details Co-operative Bank (current account) Hull and East Yorkshire Credit Union (reserve account) Paypal Total cash funds (agree balances with receipts and payments account(s)) Details None Details None Details None Details |
Unrestricted funds to nearest £ 8,601 5,385 413 14,399 OK Unrestricted funds to nearest £ - Fund to which asset belongs - Fund to which asset belongs - Fund to which liability relates |
Restricted funds to nearest £ - - - - OK Restricted funds to nearest £ - Cost (optional) - Cost (optional) - Amount due (optional) |
Endowment funds to nearest £ |
|---|---|---|---|---|
| - | ||||
| - | ||||
| - | ||||
| - | ||||
| OK | ||||
| Endowment funds to nearest £ |
||||
| - | ||||
| Current value (optional) |
||||
| - | ||||
| Current value (optional) |
||||
| - | ||||
| When due (optional) |
B1 Cash funds
B2 Other monetary assets
B3 Investment assets
B4 Assets retained for the charity’s own use
9
----- Start of picture text -----
B5 Liabilities None - - -
Signed by one or two trustees on behalf Date of
of all the trustees Signature Print Name approval
James Russell 29 May 2025
----- End of picture text -----
10
Notes on the accounts
1 Accounting Policies
The principal accounting policies adopted, judgements and key sources of estimation or uncertainty in the preparation of the financial statements are as follows:
a) Basis of preparation
The financial statements have been prepared in accordance with the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standards for Smaller Entities published on 16 July 2014, the Financial Reporting Standard for Smaller Entities (effective January 2015) and the Companies Act 2006. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policies note(s).
b) Preparation of the accounts on a going concern basis
The trustees are of the view that the trading and cash position of the organisation have secured the immediate future of the organisation for the next 12 to 18 months and on this basis the assessment of the trustees is that the charity is a going concern.
c) Income recognition policies
Items of income are recognised and are included in the accounts when all of the following criteria are met:
-
The charity has entitlement to the funds
-
Any performance conditions attached to the item(s) of income have been met or are fully within the control of the charity
-
There is sufficient certainty that receipt of the income is considered probable, and
-
The amount can be measured reliably
d) Donated services and facilities
Donated services and facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probably and that economic benefit can be measured reliably. On receipt, donated services and facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
e) Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
f) Fund accounting
Unrestricted funds are available to expend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations or funding that the donor has specified are to be solely used for particular areas of the charity’s work or specific artistic projects being undertaken by the organisation.
g) Expenditure
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:
- Expenditure on charitable activities – includes the costs of film screenings and other activities undertaken to further the purposes of the clarity
11
- Expenditure of organisational operations – these are the support costs that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, insurance, governance, etc, which support the charity’s charitable activities. The basis of support costs has been set out at note 10.
The charity’s turnover is not sufficient to be VAT registered. The charity pays VAT on all services received and goods purchased, except for a small number of exemptions on goods purchased as allowed by current VAT treatment set by HMRC.
h) Tangible fixed assets Individual fixed assets costing £1,000 or more are capitalised at cost and are depreciated over their estimated useful economic lives on a straight line basis as follows:
| Asset category | Annual rate |
|---|---|
| Equipment | 33% |
| Cabling and discs | 50% |
i) Any stock is included at cost or net realisable value. Donated items of stock are recognised on receipt at fair value, which is the amount the charity would have been willing to pay for the items on the open market.
j) Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discounts offered. Prepayments are valued at the amount prepaid after taking account of any trade discounts due.
k) 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 the acquisition or opening of the deposit or similar account.
l) Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
m) Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments.
2 Legal status of the organisation
Hull Independent Cinema Project is a Charitable Incorporated Organisation, registered with and regulated by the Charity Commission. It trades as Hull Independent Cinema. It was incorporated on 13 September 2015.
12
c/o Artlink Centre for Community Arts
87 Princes Avenue, Hull, HU5 3QP
Email hello@hullindependentcinema.com
Web hullindependentcinema.com
HULL INDEPENDENT CINEMA PROJECT
(A CHARITABLE INCORPORATED ORGANISATION) Report and Financial Statements Year ending 30 September 2024 Charity number: 1163544
Hull Independent Cinema Project, operating as Hull Independent Cinema, is a Charitable Incorporated Organisation (registration no 1163544) and is recognised as a charity for tax purposes by HM Revenue and Customs.
HIC is proudly supported by Film Hub North, part of the BFI Film Audience Network.
HULL INDEPENDENT CINEMA PROJECT
Trustees’ annual report for the year ending 30 September 2024
The trustees are pleased to present their annual trustees’ report together with the consolidated financial statements of the charity for the year ending 30 September 2024
The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association (The Constitution) and Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities.
Chair’s Report
This report covers our most recent full financial year, 1 October 2023 to 30 September 2024. We are pleased to report a full year of programming and film screenings and continuing partnerships.
During this period we put on a total of 61 screenings: 59 as part of our core programme and two more as part of the SAFAR Festival of Arab Cinema. At our screening of documentary TISH in June 2024 we were delighted to welcome the film’s producer and narrator as our special guests who took part in a Q&A session with a sold-out audience. In November we welcomed the film’s director to our screening of the documentary ON OUR DOORSTEP for a Q&A session; at this film and our screening the following week of Ken Loach’s THE OLD OAK we were proud to collect cash food and equipment to be donated to Hull Help for Refugees; thank you to everyone who made a donation to such a great cause. We also continued our Audience Choice Screenings this year, offering our audiences the chance to get more involved in deciding what films we show.
Our involvement as a host of SAFAR Film Festival was our third year working with the Arab British Centre to put on film screenings celebrating the best of independent Arab cinema. We would like to offer our thanks to them for involving us in their fantastic event and for allocating some of their funding to support our screenings.
We also received direct funding from Film Hub North, awarding National Lottery funds on behalf of the BFI’s Film Audience Network, to support our core film programme up to 31 March 2024. This funding enabled us to continue our free ticket scheme, offering people the chance to come and see our films who might otherwise be prevented from doing so due to the financial, geographical, cultural or other barriers they experience. Although our funding support only ran until the end of March 2024 we took the decision to continue offering the free ticket scheme at our own expense after then, and continue to welcome queries from local charities and community groups that might benefit from it.
FHN funding support more generally enables us to continue to take risks with our programming, offering local audiences the chance to see films at great value prices that would not otherwise get shown in Hull. The FHN funding gave us the security to experiment with dropping our prices from £7 to £5 (with an additional £1 discount for HIC members) from January 2024 onwards as we continue our efforts to get audience numbers back to the levels they were at before the Covid pandemic. This has proved to be a success, with audience numbers increasing sufficiently to offset the reduced financial income per ticket, helping us to reach more people than before: our average audience per screening in the 2023/24 year was nearly 50% higher than in the previous year! We have kept tickets at the new lower price since then.
As Chair of the Board, I must pay tribute to the hard work of my fellow Trustees, who give their time and skills to run the charity completely voluntarily, and on behalf of the HIC Trustee Board, I want to thank our audiences, members and volunteers for you r continuing support. Nothing HIC does would be possible without you. Thank you.
James Russell Chair of Trustees
2
Our purposes and activities
The purposes of the charity are:
To advance the education of the public in the knowledge, understanding and appreciation of the art of film, in particular but not exclusively by:
(a) the screening of films of artistic merit and educative value in and around the city of Kingston Upon Hull; and
(b) establishing, maintaining and providing educational programmes, exhibition space and production facilities.
Our charity has considered its public benefit aims as a charity; we undertake screenings and work to further the understanding and appreciation of world, independent, documentary and art-house cinema on a non-profit basis. Our programming provides Hull audiences with the opportunity to see great films that would otherwise not be shown in the city. Our film screenings are priced so as to be as accessible as possible whilst covering the costs of screenings and enabling the charity to maintain reserves to provide financial resilience. We introduced an Audience Choice screening two years ago to engage our audiences more directly with our programming and continue with this each quarterly season. Our free ticket scheme, operating since November 2022 at our core programme screenings and the second year of the SAFAR film festival, enables new audiences to engage with our work.
| The screeningfigures for 1 October 2023-30 September 2024 are as follows: | The screeningfigures for 1 October 2023-30 September 2024 are as follows: | The screeningfigures for 1 October 2023-30 September 2024 are as follows: |
|---|---|---|
| Screeningtype | No. of films/screenings | Total audience attendance |
| Full-length world, independent and art-house film (including SAFAR Film Festival 2024 and other special / partnershipevents) |
61 | 4,586 |
| For comparison, our screenings from 1 October 2022–30 September 2023 were as follows: | ||
Screeningtype |
No. of films/screenings |
Total audience attendance |
| Full-length world, independent and art-house film (including SAFAR Film Festival 2023 and other special / partnershipevents) |
60 | 3,049 |
Financial review
In the current financial year our accounts show a surplus. The charity also benefits from historic reserves. In 2021-22, Hull Independent Cinema returned a deficit set of accounts. Last year and this year’s surplus position has only been possible due to grant funding in the previous financial year, which has helped covered core costs of running Hull Independent Cinema and, most importantly, the main costs associated with film screenings, which include screening room hire, film licences and marketing. The organisation has not been in receipt of any grant funding in 2023-24 but intends to apply for future funding, in line with the Hull Independent Cinema development strategy.
The organisation retains over £5,000 in its reserve account. This is in line with the organisation’s financial management policy, which would allow for circa 6 months running costs of core costs and film screening, taking account of the income this would generate.
Reserves policy and going concern
Our current reserves policy is to retain an amount sufficient to cover the costs of running the organisation and our regular weekly film programme for a period of six months. The benefits of such a policy were clearly demonstrated during the pandemic shutdown, when we had no income beyond a small number of donations but were able to use reserves to cover our ongoing overhead.
This policy is kept under review by the Trustees. The charity has sufficient income and reserves after liabilities to prepare the accounts on a going concern basis.
3
Plans for the future period
At the time of writing in May 2025 we have put in grant applications to Film Hub North and Hull City Council for which we are awaiting confirmation. If successful, we will use this funding to support some specific project work, but the bulk of the funding will be used to employ (or engage as a freelance) a part-time Audience Development Producer. We have identified audience outreach as a key development goal for the organisation but our existing Trustee Board does not have the time or capacity to devote to this work.
Whether or not we are successful in attracting funding support for this post, we will continue during the 2024-25 year to put together a core programme of the best films from Britain and around the world that Hull audiences would not otherwise have the chance to see. We are planning to be a host for the 2025 SAFAR Film Festival once again. In addition, at the time of writing we are about to spend two weeks celebrating the history of LGBTQ+ cinema in our first ever QUEER Season.
We are always looking for new Trustees to join the organisation, and welcome expressions of interest from anyone who is interested in providing their time in support of the work that HIC does.
Reference and administrative details
Charity number: 1163544
Registered office: C/O Artlink, 87 Princes Avenue, Hull, HU5 3QP
Bankers: The Co-operative Bank, 1 Balloon Street, Manchester, M60 4EP
Hull and East Yorkshire Credit Union, 38 Brook Street, Hull, HU2 8LA
Trustees at 30 September 2024
Chair James Russell (Chair of Trustees) Trustees Ruby Bradshaw, Ellie Irwin, Carla Ramsay (Honorary Treasurer and Company Secretary), Theo Rintoul, Samuel Sims, Matthew Smith, Philip Stevens, Paul Terry
Hull Independent Cinema did not have any employees during 2023-24
Structure, governance and management
HIC is governed by its Constitution and managed by a Trustee Board of up to twelve. Trustees may be elected or appointed by the Trustee Board with that appointment confirmed by the members at the next AGM.
The Trustees are volunteers and do not receive any remuneration for their role as Trustees. They are paid expenses in accordance with HIC’s Expenses Policy for any out of pocket expenses incurred as part of their duties.
At the 2024 AGM, Trustees James Russell, Matthew Smith and Philip Stevens retired by rotation and stood for re-election. In addition, the November 2023 appointment of Ruby Bradshaw was confirmed by election at a Trustee meeting.
Trustee terms of office will expire according to the process set out in Clause 12 of our Constitution.
4
Trustees’ responsibilities in relation to the financial statements
The Trustees are responsible for preparing the annual report and accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The Trustees are required to prepare financial statements for each year that are a true and fair view of the state of affairs of the charitable organisation and the incoming resources and the application of those resources, including income and expenditure for that period. In preparing these financial statements, the trustees are required to:
-
Select suitable accounting policies and apply them consistently
-
Observe the methods and principles in the Charities Commission SORP
-
Make judgements and estimates that are reasonable and prudent
-
State whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements
-
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue its business
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Statement as to disclosure
In so far as the Trustees are aware at the time of approving our annual report:
-
There is no relevant information discovered in preparing this report that is not disclosed in this document and
-
The Trustees, having made enquiries of each other, have taken all steps that they are obliged to take as a Trustee in order to make themselves aware of any relevant information and to establish that they are aware of that information
By order of the board of trustees.
Signed:
James Russell (Chair), 29 May 2025
5
LEFT PURPOSELY BLANK
----- Start of picture text -----
Hull Independent Cinema Project No 1163544
----- End of picture text -----
Recei ts and a ments accounts p p y For the period 01-Oct-2023 30-Sep-2024 To from
CC16a
Section A Receipts and payments Unrestricted Restricted Endowment Total funds Last year funds funds funds to nearest £ to nearest £ to nearest £ to nearest £ to nearest £ A1 Receipts Donations and legacies 211 0 - 211 66 Grants 0 0 - 0 8,290 Income from charitable activities Film screenings and membership 25645 0 - 25856 20,871 Income from other sources 0 0 - 0 0 Investment income 0 0 - 0 0 25856 0 - 25856 29,227 Sub total (Gross income for AR) A2 Asset and investment sales - Total receipts 25856 0 - 25856 29,227
7
A3 Payments
| 0 | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 22711 | ||||||||||||
| 1,056 | ||||||||||||
| 0 | ||||||||||||
| 23767 | ||||||||||||
| - | - | - | - | - | ||||||||
| 1389 (1389) 1389 0 |
- - - - - |
25465 391 14,008 14,399 |
||||||||||
| 23767 | ||||||||||||
| (1389) | - | 391 | 5460 | |||||||||
| - | - | |||||||||||
| 1389 | - | 14,008 | 8,548 | |||||||||
| 0 | - | 14,399 | 14,008 |
8
Section B Statement of assets and liabilities at the end of the period
| Categories nds onetary assets ent assets retained for the wn use |
Details Co-operative Bank (current account) Hull and East Yorkshire Credit Union (reserve account) Paypal Total cash funds (agree balances with receipts and payments account(s)) Details None Details None Details None Details |
Unrestricted funds to nearest £ 8,601 5,385 413 14,399 OK Unrestricted funds to nearest £ - Fund to which asset belongs - Fund to which asset belongs - Fund to which liability relates |
Restricted funds to nearest £ - - - - OK Restricted funds to nearest £ - Cost (optional) - Cost (optional) - Amount due (optional) |
Endowment funds to nearest £ |
|---|---|---|---|---|
| - | ||||
| - | ||||
| - | ||||
| - | ||||
| OK | ||||
| Endowment funds to nearest £ |
||||
| - | ||||
| Current value (optional) |
||||
| - | ||||
| Current value (optional) |
||||
| - | ||||
| When due (optional) |
B1 Cash funds
B2 Other monetary assets
B3 Investment assets
B4 Assets retained for the charity’s own use
9
----- Start of picture text -----
B5 Liabilities None - - -
Signed by one or two trustees on behalf Date of
of all the trustees Signature Print Name approval
James Russell 29 May 2025
----- End of picture text -----
10
Notes on the accounts
1 Accounting Policies
The principal accounting policies adopted, judgements and key sources of estimation or uncertainty in the preparation of the financial statements are as follows:
a) Basis of preparation
The financial statements have been prepared in accordance with the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standards for Smaller Entities published on 16 July 2014, the Financial Reporting Standard for Smaller Entities (effective January 2015) and the Companies Act 2006. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policies note(s).
b) Preparation of the accounts on a going concern basis
The trustees are of the view that the trading and cash position of the organisation have secured the immediate future of the organisation for the next 12 to 18 months and on this basis the assessment of the trustees is that the charity is a going concern.
c) Income recognition policies
Items of income are recognised and are included in the accounts when all of the following criteria are met:
-
The charity has entitlement to the funds
-
Any performance conditions attached to the item(s) of income have been met or are fully within the control of the charity
-
There is sufficient certainty that receipt of the income is considered probable, and
-
The amount can be measured reliably
d) Donated services and facilities
Donated services and facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probably and that economic benefit can be measured reliably. On receipt, donated services and facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
e) Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
f) Fund accounting
Unrestricted funds are available to expend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations or funding that the donor has specified are to be solely used for particular areas of the charity’s work or specific artistic projects being undertaken by the organisation.
g) Expenditure
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:
- Expenditure on charitable activities – includes the costs of film screenings and other activities undertaken to further the purposes of the clarity
11
- Expenditure of organisational operations – these are the support costs that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, insurance, governance, etc, which support the charity’s charitable activities. The basis of support costs has been set out at note 10.
The charity’s turnover is not sufficient to be VAT registered. The charity pays VAT on all services received and goods purchased, except for a small number of exemptions on goods purchased as allowed by current VAT treatment set by HMRC.
h) Tangible fixed assets Individual fixed assets costing £1,000 or more are capitalised at cost and are depreciated over their estimated useful economic lives on a straight line basis as follows:
| Asset category | Annual rate |
|---|---|
| Equipment | 33% |
| Cabling and discs | 50% |
i) Any stock is included at cost or net realisable value. Donated items of stock are recognised on receipt at fair value, which is the amount the charity would have been willing to pay for the items on the open market.
j) Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discounts offered. Prepayments are valued at the amount prepaid after taking account of any trade discounts due.
k) 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 the acquisition or opening of the deposit or similar account.
l) Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
m) Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments.
2 Legal status of the organisation
Hull Independent Cinema Project is a Charitable Incorporated Organisation, registered with and regulated by the Charity Commission. It trades as Hull Independent Cinema. It was incorporated on 13 September 2015.
12
CHARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Section A Independent Examiner's Report Report to the trusteesl members of Hull Independent Cinema Project On accounts for the year ended 30 September 2024 Charity no (if any) 1163544 Set out on pages 7-12 Respectivo The charity's trustees are responsible for the preparalion of the accounts. responslbilities of trustees The charity's trustees consider thal an audit is not required for this year and examiner under section 144 of the Charities Acl 2011 (the Charilies Acll and that an independent examination is needed. It is my responsibility to: examine the accounts under section 145 of the Charities Acl, to follow the procedures laid down in the general Directions given by the Charity Commission (under seclion 14515)Ib) of the Charities Act, and to state whether particular matters have come to my attention. Basis of independent My examination was carried out in accordance with general Direclions given oxaminer's statement by the Charity Commission. An examination includes a review ofthe accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair, view and the report is limited lo those matters set out in the statement below. Independent 8xaminerfs In connection with my examination, no material matters have come lo my statement atlenlion which gives me cause to believe that in, any material respect.. accounting records wgre not kept in accordance with section 130 of the Charities Act or the accounts do not accord with the accounting records I have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached. Signed: Date: Friday 23 May 2025 Name: Rebecca Thompson Relevant professional qualification{sl or body lif any): IER December 2017
Address: Alderson House Hull Royal Infirmary, Hull HU3 2JZ Section B Disclosure Only complete if the examiner needs to highlight matters of concern (see CC32, Independent examination of charity accounts.. directions and guidance for examiners). Give here brief details of any items that the examiner wishes to disclose. IER December 2017