2021-03-31-accounts

		Page
Report ofthe Trustees		1 to 19
Reference and Administrative Details		20
Statement of Trustees'	Responsibilities	21
Report ofthe Independent Auditors		22 —24
Statement of Financial	Activities	25
Statement of Financial	Position
Statement ofCash Flows		27
Notes tothe Financial	Statements	28to 37

Championing and developing talent (continued)
Games ~ Catherine Unger (Art Director ofState ofPlay's South ofthe Circle) ~ Ed Fear (Creative Director and Writer ofMediatonic's Murder by Numbers)
~ Abubakar Salim (Actor and Founder of Silver Rain Games)
London's Screen Archives
~ Southwark Archives (Looking for Sierra Leone)
The Lodestars awards took place in early June 2021.
Providing training through production Under the BFI NETWORK banner, Film London had some great results of promoting new talent to the next level in the
industry: ~ Dad Joke (BFI NETWORK SFF, 2019) is in development as a TV series and the team was selected for an
Edinburgh Connects lab in June ~ Naomi Soneye-Thomas (Losing Pace, 2019, BFINETWORK) wss selected for the Fresh Perspectives scheme
at BBCStudios ~ Rosie Westhoff (writer/directo, Our Sister, 2019, BFI NETWORK) has received funding from BFI Young
Audiences Fund for aTV seriies ~ Netflix acquired We Love Moses (London Calling Plus, 2016)as a Netflix Original ~ BBC hired three ofour BFI NETWORK/London Calling short film directors to make episodes of Soon Gone: A Wlndrusb Chronicle (Christian Ebohon-Green, Dionne Edwards and Destiny Ekaragha) ~ BFI NETWORK/London Calling alumni Rubika Shah and Ed Gibbs were nominated for Best Documentary at the BIFAs for the feature White Riot, based on a short film they made with us in 2016
Our Microwave programme has pushed a new crop offeature filmmakers onto the scene; ~ Bulldog released Looted across the UK in November 2020. The film was longlisted in seven categories at the 8IFAs, and nominated for the Rsindance Discovery Award ~ Body of Water was released by Verve across the UK in October 2020 and was longlisted in three categories at
the BIFAs ~ Sweetheart premiered at Glasgow Film Festival, where it won the Audience Award, and recently signed a UK snd Ireland distribution deal with Peccadillo Pictures for release in summer 2021 ~ Faye Gilbert, writer and director ofZero, has been hired by ITVto shoot a TV drama. The film will launch later in
2021
We remain committed to working towards a fairer industry, and diversity and inclusion have been a huge focus of our work for many years now. Our target is always to ensure that the filmmakers we work with are representative of London's population. Our range of insightful, innovative talent development schemes, alongside our Equal Access Network (EAN) and our Lodestars celebration, champion exciting and diverse voices and train the most promising talent the capital has
to offer, showcasing their stories and talent.

			2021	2021	2021	2020
		Notes	Unrestricted 6	Restricted 6	Total funds f	Total funds 6
INCOME FROM Donations and legacies			36,000	50,882	86,882	240,124
Charitable activities			2,110,877	4,202,275	6,313,152	5,550,628
Other trading activities			19,741		19,741	48,674
Investment income			556		556	1,634
Total			2,167,174	4,253,157	6,420,331	5,841,060
EXPENDITURE ON Raising funds Charitable activities			161,814 1,913,961	4,253,157	161,814 6,16?,118	183,174 5,636,084
Total			2,075,775	4,253,157	6,328,932	5,819,258
NET INCOME			91,399		91,399	21,802
RECONCILIATION OF FUNDS Total funds brought forward			850,817		850,817	829,015
TOTAL FUNDS CARRIED FORWARD			942,216		942,216	850,817

		2021	2020
		Total funds	Total funds
FIXEDASSETS Intangible assets Tangibieassets	11 12	26,243 ~142183	18,983 10$007
		'l68,426	'l27.990
CURRENT ASSET8 Debtors Cash at bank and in hand	13	1,881,980 1,810,S50	1,392,176 647,516
		3,698,846	2,039,092
CREDITORS
Amounts falling due within one year		(2,925,050)	(1,316,865)
NET CURRENT ASSETS		773,700	722,827
TOTAL ASSETSLESS CURRENT UASIUTIES		942,216	850,817
		~942 216	~850 817
FUNDS Unrestricted funds		~942 216	850,817
TOTALFUNDS		~942 2'l6	850,817

	2021	2020
	6	6
Cash flows from operating activities:
Net cash provided by operating activities	1,266,198	106,716
Cash flows from investing activities: Dividends, interest and rents from investments	556	1,634
Proceeds from the sale of property, plant and equipment Purchase of intangible assets Purchase of property, plant and equipment	(20,100) ~77,310	(20,100) ~30,976)
Net cash (used in) investing activities	(96,854)	(49,442)
Change in cash and cash equivalents in the year	1,169,344	57,274
Cash and cash equivalents brought forward
Cash and cash equivalents carried forward	647,516	590,242
	1,816,86	647,516
Reconciliation ofnet movement in funds to net cash
flow from operating activities Net income forthe year	91,399	21,802
Adjustments for: Depreciation charges Dividends, interest and rents from investments (Increase) in debtors Increase in creditors	56,974 (556) (489,810) 1,608,191	28,876 (1,634) (39,583) 97,255
Net cash used in operating activities	1~266,198	106,716
Analysis ofcash and cash equivalents Cashin hand	1,816,860	647,516
Total	1,816860 l	647,516

2.	ACCOUNTING POLICIES —continued
2.6	Intangible assets
	Intangible assets represent website costs and are	stated at cost less depreciation.			Depreciation		is provided
	against intangible fixed assets over 3years, calculated to write off		the cost	over their expected useful lives, using
	the straight-line method.
2.7	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 ofthe interest paid or payable.
2.8	Operating leases
	Rentals under operating leases are charged to the	Statement of Financial		Activities on a straight		line basis over
	the lease term.
2.9	Financial instruments
	The Charity only has financial assets and financial	liabilities ofa 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 loans which are subsequently measured at amortised					cost using the
	effective interest method.
2.10	Debtors
	Trade and other debtors are recognised at the settlement amount		after any trade discount offered.				Prepayments
	are valued at the amount repaid net ofany trade discounts due.
2.11	Cash at bank and in hand
	Cash at bank and in hand includes cash short term	highly liquid investments		with a short maturity		of	three	months
	or less from the date of acquisition or opening ofthe	deposit or similar account.
2.12	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 offunds 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.
2.13	Pension costs
	The charity operates a defined contribution pension	scheme. The	assets ofthe scheme are held			separately from
	those of the Charity in an independently administered fund. The		amount	charged to	the Statement		of Financial
	Activities represents the contributions payable to the scheme in respect of			accounting	period.
2.14	Critical accounting estimates and judgements
	In preparing the financial statements, management	is required to	make estimates and assumptions				which affect
	reported income, expenses, assets, liabilities and disclosure of contingent			assets and	liabilities.	Use of available
	information and application of judgements are inherent in the formation			of estimates, together with				the past
	experience and expectations of future events that are believed to be reasonable under				the circumstances.			Actual
	results in the future could differ from such estimates. Management do			not consider there to		be	any	material
	accounting estimates orjudgements that need disclosure in these		financial	statements.

DONATIONS AND LEGACIES	DONATIONS AND LEGACIES							2021		2021			2021			2020
						Unrestricted			Restricted				Total			Total
								6		6			6			6
Donations								36,000					36,000			36,000
Gifts in kind										50,882			50,882		204,124
								36,000		50,882			86,882		240,124
In 2021,ofthe total income from donations f50,882 (2020:8204,124)was to restricted				and legacies, 636,000 (2020: income.						636,000)was		to	unrestricted		funds and
The charity is grateful to various		oiganisations			who		donate their services			for free or for		a	reduced charge.			These
include support across a	number		of activities				including venue		hire, office space,				speaker	fees,		event
accreditations, website events		platform and			legal		advice. An equivalent			charge	is	included within			charitable
expenditure.
The charity also benefits from		the	involvement			and		support of its	volunteers who			make a vital			contribution
towards their achievements	in	accordance			with		FRS102 snd the		ChariTies SORP			(FRS102), the economic
contriibution ofgeneral volunteers		is	not recognised				in	the accounts.
INCOME FROM CHARITABLE		ACTIVITIES						2021		2021			2021			2020
							Unrestricted		Restricted				Total			Total
								6		8			6			6
Promotion ofvisual arts								1,083,079		754,029		1,837,108			2,595,569
F LAMIN								74,237		270,688		344,925			446,218
Production oftalent development								208,800		211,697		420,497				580,745
Film promotion and culture								652,261		589,770		1,242,031				977,961
British Film Commission								92,500	2,376,091			2,468,591				950,135
								2,110,877	4,202,275			6,313,152			5,550,628
In 2020, ofthe total income	from	charitable		activities, 62,110,877was					to unrestricted		funds		(2020:62,286,922)and
64,202,275was to restricted	funds (2020:f3,263,706).
OTHER TRADING ACTIVITIES								2021		2021			2021			2020
							Unrestricted 6		Restricted 6				Total 6			Totalf
Rental income								17,839					17,839			45,720
Other income								1,902					1,902			2,954
								19,741					19,741			48,674

INVESTMENT INCOME	2021	2021	2021	2020
	Unrestricted f	Restricted f	Total f	Totalf
Bank interest	556		556	1,634

ANALYSIS	OF EXPENDITURE	Staff	Activities	Grant	Support	2021	2020
		Costs	Costs	Funding	Costs	Total	Total
		(note 10)f			(note 8)f	f
Raising funds		79,163	15,466		67,185	161,814	183,174
Promotion	ofvisual arts	608,332	699,690		397,388	1,705,410	2,474,934
FLAMIN		164,423	59,626	33,800	107,408	365,257	511,494
Production	and talent development	192,579	58,904	54,091	125,801	431,375	661,238
Film production &culture		368,903	110,385	492,720	240,983	1,212,991	1,009,045
British Film	Commission	311,202	1,822,630	80,000	238,253	2,452,085	979,373
		1,645,439	2,751,235	660,611	1,109,833	6,167,118	5,636,084
		1,724,602	2,766,701	660,611	1,177,018	6,328,932	5,819,258
ANALYSIS OF SUPPORT COSTS						2021f	2020f
Staff costs	(note 10)					479,680	472,589
Overheads						669,425	706,944
Legal and	professional					12,804	8,400
Audit fees						15,109	17,917
					1,177,018		1,205,850
NET INCOME						2021f	2020f
This is stated affer charging:
Depreciation						56,974	28,876
Auditors' remuneration						15,109	17,917
Operating	lease rentals					147,384	162,010

ANALYSIS OF STAFF	ANALYSIS OF STAFF					2021f		2020 6
Wages and salaries					1,894,176		1,937,063
Social security costs					198,682		204,165
Pension contributions					103,201		107,020
Other staff costs						8,223		35,286
					2,204,282		2,283,534
The total staff costs of62,204,282 (2020:62,283,534) include f1,724,602 (2020:61,810,945)ofdirect							staff	costs
as shown in note 10,	plus	6479,680(2020:6472,589)which have been			allocated to support	costs (note 8).
The average number	ofstaff		employed	during the year was:		No.		No.
Raising funds						1.5		1.5
Inward investment &	business		development			11.0		13.5
FLAM IN						4.0		4.5
Production 8 talent development						6.0		6.5
Film promotion &culture						12.5		12.0
British Film Commission						5.5		4.0
Support						8.5		8.5
						49.0		50.5
					2021		2020
					No.		No.
The number ofemployees		whose salaries for the year fell
withing the following	bands were:
660,001 - 670,000
670,001 - 680,000
680,001 - 690,000
6130,001 - Kf40,000

11.	INTANGIBLE FIXEDASSETS		Website costs
				6
	Cost
	At 1 April 2020			20,100
	Additions			20,100
	At 31 March 2021			40,200
	Depreciation
	At 1 April 2020			1,117
	Charge for the year			12,840
	At 31 March 2021			13,957
	Net Book Value
	AT 31 March 2021			26,243
	At 31 March 2020			18,983
12.	TANGIBLE FIXEDASSETS	Office	Leasehold
		Equipment	Improvements	Total
		6	6	6
	Cost
	At 1 April 2020	172,254	90,318	262,572
	Additions	77,310		77,310
	Disposals	(45,300)		(45,300)
	At 31 March 2021	204,264	90,318	294,582
	Depreciation
	At 1 April 2020	116,396	37,169	153,565
	Charge for the year	34,756	9,378	44,134
	Depreciation on disposals	(45,300)		(45,300)
	At 31 March 2021	105,852	46,547	152,399
	Net Book Value
	At 31 March 2021	98,412	43,771	142,183
	At 31 March 2020	55,858	53,149	109,007
13.	DEBTORS		2021	2020
			5
	Trade debtors		191,530	661,195
	Other debtors		78,892	57,897
	VAT recoverable		203,657	19,289
	Prepayments and accrued income		1,407,907	653,795
			1,881,986	1,392,176

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR	2021	2020
		6
Trade creditors		1,752,602	447,898
Grants payable Other taxation and social security		315,500 51,361	122,673 52,289
Accruals and deferred income		805,593	694,005
		2,925,056	1,316,865
Analysis ofgrants payable	(all due within one year)
Grants committed but unpaid Grants committed in the year	b/fwd	122,673 660,611	194,818 186,613
Grants paid in the year		(467,784)	(258,758)
Grants committed but unpaid	cifwd	315,500	122,673

MOVEMENTS	IN FUNDS	As at			As at
		1 April 2020	Income	Expenditure	31 March
					2021
				8
Unrestricted	funds	850,817	2,167,174	(2,075,775)	942,216
General funds
Restricted funds			4,253,157	(4,253,157)
Total funds		850,817	6,420,331	(6,328,932)	942,216

MOVEMENTS	IN FUNDS	Unrestricted	Restricted	Total	Total
		Funds	Funds	2021	2020
		6	8	8
Tangible fixed	assets	142,183		142,183	109,007
Intangible fixed assets		26,243		26,243	18,983
Current assets		3,698,846		3,698,846	2,039,692
Creditors due within one year		(2,925,056)		(2,925,056)	(1,316,865)
		942,216		942,216	850,817
		Unrestricted	Restricted	Total	Total
Movement in	funds (comparative)	Funds	Funds 8	2020 8	2019 6
Tangible fixed	assets	109,007		109,007	105,791
Intangible fixed assets		18,983		18,983
Current assets		2,039,692		2,039,692	1,942,835
Creditors due within one year		(1,316,865)		(1,316,865)	(1,219,611)
		850,817		850,817	829,015

The Char operating	itable Company had total commitments for land leases as follows:	and buildings at the year-end under non-can	cellable
		2021	2020
		6	8
Within 1 Between	year 1 and 5years	121,507 619,863	169,054 676,214
Over 5years			112,702
		741,370	957,970

Char ed to	the	Charitable Com	Charitable Com	an
Services		Organisation			Relationship	Charge 2021	2020f	Balance 2021 f	2020 f
Games Screenings		UKIE Genesis	Cinema		Director (APayne) Owner (T Walker-	24,694	5,740 4,000	2,500
					Hebborn)
BFCconsultancy		Saffrey	Champness		Partner (JGraydon)	7,355	9,900	7,355
Cha e b	the	Charitable	Com	an
Services		Organisation			Relationship	Charge 2021f	2020f	Balance 2021 f	2020 f
Grants		ScreenSkills			Director (I Smith)	7,022	48,000	7,022	8,000
Microwave Grants		BBC Genesis	Cinema		Director (G Atlas) Owner (T Walker-	12,500	52,990 5,000	5,000	5,000 5,000
					Hebborn)
Games Sponsorship		UKIE Saffrey Champness			Director (A Payne) Partner (J	7,500	21,583 15,000	r,5oo	9,500 7,'5oo
					Graydon)