**REGISTERED CHARITY NUMBER: 1174807** ## **Report of the Trustees and** **Unaudited Financial Statements for the Year Ended 31 December 2023** ## **for** ## **Harwich Electric Palace Trust** JTF Chartered Certified Accountants 195 Main Road Dovercourt Harwich Essex CO12 3PH **Harwich Electric Palace Trust** **Contents of the Financial Statements for the Year Ended 31 December 2023** |||**Page**|| |---|---|---|---| |**Report of the Trustees**|1|to|3| |**Independent Examiner's Report**||4|| |**Statement of Financial Activities**||5|| |**Balance Sheet**||6|| |**Cash Flow Statement**||7|| |**Notes to the Cash Flow Statement**||8|| |**Notes to the Financial Statements**|10|to|17| |**Detailed Statement of Financial Activities**|18|to|19| **Harwich Electric Palace Trust** **Report of the Trustees for the Year Ended 31 December 2023** The trustees present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** The charity's main aim is to preserve the Harwich Electric Palace cinema in terms of both the structure and its functioning as a working cinema. ## **Significant activities** The charity's main activity is the operation of the building as a cinema and theatre. The cinema re-opened in April 2022 after 4 years of major restoration work. ## **Public benefit** Through its subsidiary company, the charity provides a cinema and theatre for the small Essex town of Harwich. The charity also works to preserve the historic building for the benefit of future generations. ## **Grantmaking** The charity does not make grants to other institutions or individuals. ## **Volunteers** The charity relies on the support of around 70 volunteers whose roles cover managers, helpers, sales personnel, finance and trustees. ## **ACHIEVEMENT AND PERFORMANCE** ## **Charitable activities** The charity enjoyed a full year of activities programmed for the building - the range of activity types was broadened linked to the National Lottery Heritage Fund grant, and included live music events, silent movies accompanied by live bands, comedy events, specialist screenings provided to support audiences with autism and dementia, alongside the private hire of the venue including to support local charities and business, as well as the provision of wedding services. 2023 was the first full year of activities after the building's re-opening in April 2022 ## **Fundraising activities** Most of our funding comes from national organisations but many other regional and local bodies have assisted with grants and a loan facility. The major restoration project was completed in 2022, thanks to significant funding support from both the National Lottery Heritage Fund and Historic England. The funding support provided by the National Lottery Heritage Fund and Historic England linked to the restoration continued into 2023 to support the cinema in providing a diverse range of new activities such as music, comedy and community events. The physical works relating to both grants concluded in 2023, with the final Historic England grant claim of £6,345 settled in March 2024. The charity also runs live music and entertainment events to raise funds to cover the ongoing costs of maintaining the property. Page 1 **Harwich Electric Palace Trust** **Report of the Trustees for the Year Ended 31 December 2023** ## **FINANCIAL REVIEW** ## **Financial position** At the end of the year, the charity had net assets in the sum of £52,430 (2022: £108,260) and this also included restricted grant funding from the Essex Community Foundation, British Film Institute and Harwich Town Council to support ongoing community activities such as dementia and autism showings, and young film programmer activities. 2023 saw the conclusion of the National Lottery Heritage Fund and Historic England grants which were linked to the restoration of the building, and this saw the charity having to complete tail end expenditure relating to the grants. There has been and will be a need to continue to maintain and replenish the charity's reserves through trading surpluses achieved by the charity's subsidiary company and other fundraising. ## **Principal funding sources** The charity has historically been substantially funded by the National Lottery Heritage Fund and Historic England to restore the building and further funding was provided in 2023 until the closure of the grants in the same year. A total in the region of £1.7 million will have been received by the time the restoration project has been completed. The charity aims to maintain and replenish its core, operating reserves through trading surpluses by its subsidiary and by running a core programme of fundraising events throughout the year. ## **Reserves policy** The trustees aim to hold reserves at a level to cover the costs of operating the charity for a period of three months plus an additional amount which is retained in case any urgent repairs are required which cannot be met from surpluses generated by its subsidiary company in the operation of the cinema. The trustees consider that the current level of funds are sufficient for this but that additional surpluses may need to be raised should we consider developing and maintaining the building and its archive assets further. ## **FUTURE PLANS** The primary focus has been to work with grant funders to complete the linked activities related programme to broaden the appeal of the cinema to the local community. The charity continues to look to run a profitable underlying cinema operation and to raise funds to support both community events and heritage initiatives linked to the building. In January 2024, the charity was awarded a new £250,000 National Lottery Heritage Fund grant to support a 3 year Archive Project to secure the cinema's unique and nationally important artefacts. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The charity is governed by its constitution adopted on July 2017 as amended 25 September 2017 and 17 June 2024. ## **Recruitment and appointment of new trustees** The charity undertook a Governance Review in 2022 and again in 2023 via a professional business consultant and as a result, in the last 2 years, has appointed 6 new trustees with varied skills and experiences in terms of finance, fundraising, business and museum and academic activities. ## **Organisational structure** The trustees (currently 9) formally meet every two months. Day to day matters are delegated to a number of the trustees, including the two main directors of the charity's subsidiary company. These directors are also trustees of the charity. ## **Related parties** The charity undertakes the operation of the cinema through its subsidiary company, Electric Palace (Harwich) Limited ## **Risk management** The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. Page 2 **Harwich Electric Palace Trust** ## **Report of the Trustees for the Year Ended 31 December 2023** ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 1174807 ## **Principal address** The Electric Palace Kings Quay Street Marine Parade Harwich Essex CO12 3ER ## **Trustees** C Crawford (resigned 17.6.24) J C M Strachan (resigned 17.6.24) D T Looser A Rendell-Knights (resigned 17.6.24) D Foster (resigned 17.6.24) R J A Askew (resigned 3.3.24) P Hartwell J Hewitt (resigned 17.6.24) R H Bench A K Fullarton D Garner (resigned 9.8.24) J Askew (resigned 22.5.23) D C Perkins (appointed 8.1.24) B E Nugent (appointed 8.1.24) W M Linge (appointed 8.1.24) L Jaconelli (appointed 18.3.24) S Bahun (appointed 18.3.24) ## **Independent Examiner** P J T Frost JTF Chartered Certified Accountants 195 Main Road Dovercourt Harwich Essex CO12 3PH Approved by order of the board of trustees on 23 September 2024 and signed on its behalf by: D T Looser - Trustee Page 3 **Independent Examiner's Report to the Trustees of Harwich Electric Palace Trust** ## **Independent examiner's report to the trustees of Harwich Electric Palace Trust** I report to the charity trustees on my examination of the accounts of Harwich Electric Palace Trust (the Trust) for the year ended 31 December 2023. ## **Responsibilities and basis of report** As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act'). I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. P J T Frost JTF Chartered Certified Accountants 195 Main Road Dovercourt Harwich Essex CO12 3PH 25 September 2024 Page 4 **Harwich Electric Palace Trust** ## **Statement of Financial Activities for the Year Ended 31 December 2023** |Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
**6,042**
**Charitable activities**
5
Preservation of the Electric Palace cinema
**-**
Other trading activities
3
**27,249**
Investment income
4
**11**
Other income
**-**
**Total**
**33,302**
**EXPENDITURE ON**
Raising funds
6
**7,316**
**Charitable activities**
7
Preservation of the Electric Palace cinema
**53,600**
**Total**
**60,916**
**NET INCOME/(EXPENDITURE)**
**(27,614)**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**73,444**
**TOTAL FUNDS CARRIED FORWARD**
**45,830**|Restricted
funds
£
**-**
**28,304**
**-**
**-**
**-**
**28,304**
**5,966**
**50,554**
**56,520**
**(28,216)**
**34,816**
**6,600**|**31.12.23**
31.12.22
**Total**
Total
**funds**
funds
**£**
£
**6,042**
2,941
**28,304**
197,483
**27,249**
25,114
**11**
-
**-**
429
**61,606**
225,967
**13,282**
12,180
**104,154**
234,041
**117,436**
246,221
**(55,830)**
(20,254)
**108,260**
128,514
**52,430**
108,260|**31.12.23**
31.12.22
**Total**
Total
**funds**
funds
**£**
£
**6,042**
2,941
**28,304**
197,483
**27,249**
25,114
**11**
-
**-**
429
**61,606**
225,967
**13,282**
12,180
**104,154**
234,041
**117,436**
246,221
**(55,830)**
(20,254)
**108,260**
128,514
**52,430**
108,260| |---|---|---|---| ||||| ||||197,483| ||||25,114| ||||-| ||||429| ||||225,967| ||||12,180| ||||234,041| ||||246,221| ||||(20,254)| ||||128,514| ||||| ||||108,260| The notes form part of these financial statements Page 5 **Harwich Electric Palace Trust** ## **Balance Sheet 31 December 2023** |Unrestricted
fund
Notes
£
**FIXED ASSETS**
Tangible assets
12
**5,805**
Investments
13
**100**
**5,905**
**CURRENT ASSETS**
Stocks
14
**2,973**
Debtors
15
**18,675**
Cash at bank
**19,390**
**41,038**
**CREDITORS**
Amounts falling due within one year
16
**(1,113)**
**NET CURRENT ASSETS**
**39,925**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**45,830**
**NET ASSETS**
**45,830**
**FUNDS**
17
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Restricted
funds
£
**-**
**-**
**-**
**-**
**-**
**6,600**
**6,600**
**-**
**6,600**
**6,600**
**6,600**|**31.12.23**
**Total**
**funds**
**£**
**5,805**
**100**
**5,905**
**2,973**
**18,675**
**25,990**
**47,638**
**(1,113)**
**46,525**
**52,430**
**52,430**
**45,830**
**6,600**
**52,430**|31.12.22
Total
funds
£
2,915
100| |---|---|---|---| ||||3,015| ||||-
42,164
64,761| ||||106,925| ||||(1,680)
105,245
108,260| ||||108,260| ||||73,444
34,816
108,260| The financial statements were approved by the Board of Trustees and authorised for issue on 23 September 2024 and were signed on its behalf by: D T Looser - Trustee A K Fullarton - Trustee The notes form part of these financial statements Page 6 **Harwich Electric Palace Trust** ## **Cash Flow Statement for the Year Ended 31 December 2023** |||**31.12.23**|31.12.22| |---|---|---|---| ||Notes|**£**|£| |**Cash flows from operating activities**|||| |Cash generated from operations|1|**(35,896)**|(23,706)| |Net cash used in operating activities||**(35,896)**|(23,706)| |**Cash flows from investing activities**|||| |Purchase of tangible fixed assets||**(3,386)**|(808)| |Interest received||**11**|-| |Net cash used in investing activities||**(3,375)**|(808)| ||||| |**Change in cash and cash equivalents in**|||| |**the reporting period**||**(39,271)**|(24,514)| |**Cash and cash equivalents at the**|||| |**beginning of the reporting period**||**64,761**|89,275| |**Cash and cash equivalents at the end of**|||| |**the reporting period**||**25,990**|64,761| ||||| The notes form part of these financial statements Page 7 **Harwich Electric Palace Trust** ## **Notes to the Cash Flow Statement for the Year Ended 31 December 2023** |**1.**|**RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW**|**FROM OPERATING**|| |---|---|---|---| ||**ACTIVITIES**||| |||**31.12.23**|31.12.22| |||**£**|£| ||**Net expenditure for the reporting period (as per the Statement of**||| ||**Financial Activities)**|**(55,830)**|(20,254)| ||**Adjustments for:**||| ||Depreciation charges|**496**|85| ||Interest received|**(11)**|-| ||Increase in stocks|**(2,973)**|-| ||Decrease/(increase) in debtors|**22,989**|(4,101)| ||(Decrease)/increase in creditors|**(567)**|564| ||**Net cash used in operations**|**(35,896)**|(23,706)| ||||| ## **2. ANALYSIS OF CHANGES IN NET FUNDS** ||At 1.1.23|Cash flow|**At 31.12.23**| |---|---|---|---| ||£|£|**£**| |**Net cash**|||| |Cash at bank|**64,761**|**(38,771)**|**25,990**| ||**64,761**|**(38,771)**|**25,990**| |**Total**|**64,761**|**(38,771)**|**25,990**| The notes form part of these financial statements Page 8 **Harwich Electric Palace Trust** ## **Error Messages from the Cash Flow Statement for the Year Ended 31 December 2023** |** CURRENT YEAR - MOVEMENT IN CASH AND CASH EQUIVALENTS|| |---|---| |AS CALCULATED IN CASH FLOW STATEMENT|| |DOES NOT AGREE TO MOVEMENT PER BALANCE SHEET|| |COMPARE MOVEMENT ON CASH FLOW STATEMENT|(39,271)| |TO
MOVEMENT PER BALANCE SHEET|| |CASH AND CASH EQUIVALENTS|(38,771)| **Harwich Electric Palace Trust** **Notes to the Financial Statements for the Year Ended 31 December 2023** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. ## **Charitable activities** In the opinion of the Trustees, the charity has only one activity being the preservation of the Harwich Electric Palace cinema. In addition, all fund raising activities and governance matters, with the exception of the Independent Examiner's fees are dealt with by the Trustees and other volunteers at no cost to the charity. Therefore all support costs are considered to be in relation to the preservation of the Harwich Electric Palace cinema. ## **Tangible fixed assets** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Equipment - 15% on cost ## **Stocks** Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. ## **Taxation** The charity is exempt from tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. continued... Page 10 **Harwich Electric Palace Trust** **Notes to the Financial Statements - continued for the Year Ended 31 December 2023** ## **1. ACCOUNTING POLICIES - continued** ## **Hire purchase and leasing commitments** Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease. ## **2. DONATIONS AND LEGACIES** |**2.**|**DONATIONS AND LEGACIES**||| |---|---|---|---| |||**31.12.23**|31.12.22| |||**£**|£| ||Subscriptions and donations|**6,042**|2,917| ||Gift aid|**-**|24| |||**6,042**|2,941| |**3.**|**OTHER TRADING ACTIVITIES**||| |||**31.12.23**|31.12.22| |||**£**|£| ||Fundraising events|**-**|318| ||Wedding income|**935**|1,770| ||Hire income|**8,081**|1,420| ||Membership income|**837**|3,306| ||Concert and show income|**16,627**|18,200| ||YFP Income|**150**|-| ||Book sales|**360**|-| ||Advertising income|**259**|100| |||**27,249**|25,114| |**4.**|**INVESTMENT INCOME**||| |||**31.12.23**|31.12.22| |||**£**|£| ||Bank interest receivable|**11**|-| ||||| continued... Page 11 **Harwich Electric Palace Trust** **Notes to the Financial Statements - continued for the Year Ended 31 December 2023** |**5.**
**INCOME FROM CHARITABLE ACTIVITIES**
Activity
Grants
Preservation of the Electric Palace cinema
Grants received, included in the above, are as follows:
National Heritage Lottery Fund
Historic England
Harwich Town Council
Grant for Education Officer
Young Film Programmers project
Royal Opera House
BFI Film Academy
Essex Community Foundation
**6.**
**RAISING FUNDS**
**Fundraising events**
Purchases
Wedding costs
Film Hire
Entertainers' fees and expenses
Refreshments for resale
Books for resale
**7.**
**CHARITABLE ACTIVITIES COSTS**
Grant
funding of
activities
Direct
(see note
Costs
8)
£
£
Preservation of the Electric Palace
cinema
**75,766**
**25,500**|**31.12.23**
**£**
**28,304**
**31.12.23**
**£**
**14,064**
**-**
**1,905**
**-**
**-**
**1,245**
**2,250**
**8,840**
**28,304**
**31.12.23**
**£**
**37**
**450**
**12,134**
**500**
**113**
**48**
**13,282**
Support
costs (see
note 9)
£
**2,888**||| |---|---|---|---| |||31.12.22|| |||£|| |||197,483|| ||||| |||31.12.22|| |||£
141,260|| |||47,546
-
2,905
5,772
-
-
-
197,483|| ||||| |||31.12.22|| ||||£| ||||-
2,609
6,256
3,315
-
-| ||||12,180| |||Totals
£
**104,154**|| continued... Page 12 **Harwich Electric Palace Trust** **Notes to the Financial Statements - continued for the Year Ended 31 December 2023** ## **8. GRANTS PAYABLE** ||**31.12.23**|31.12.22| |---|---|---| ||**£**|£| |Preservation of the Electric Palace cinema|**25,500**|39,453| |The total grants paid to institutions during the year was as follows:||| ||**31.12.23**|31.12.22| ||**£**|£| |Electric Palace (Harwich) Limited|**25,500**|39,453| |||| |**9.**|**SUPPORT COSTS**||||| |---|---|---|---|---|---| |||||Governance|| |||Finance|Other|costs|Totals| |||£|£|£|£| ||Preservation of the Electric Palace cinema|**60**|**1,718**|**1,110**|**2,888**| ## **10. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022. ## **Trustees' expenses** Travel expenses totalling £255 (2022: £nil) were re-imbursed to trustees in the year. ## **11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** |Unrestricted
fund
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2,941
**Charitable activities**
Preservation of the Electric Palace cinema
-
Other trading activities
25,114
Other income
429
**Total**
28,484
**EXPENDITURE ON**
Raising funds
12,180
**Charitable activities**
Preservation of the Electric Palace cinema
24,110
**Total**
36,290
**NET INCOME/(EXPENDITURE)**
(7,806)|Restricted
funds
£
-
197,483
-
-
197,483
-
209,931
209,931
(12,448)|Total
funds
£
2,941
197,483
25,114
429| |---|---|---| |||225,967| |||12,180
234,041| |||246,221| |||(20,254)| continued... Page 13 **Harwich Electric Palace Trust** ## **Notes to the Financial Statements - continued for the Year Ended 31 December 2023** |**11.**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**|| |---|---|---|---|---|---| |||Unrestricted||Restricted|Total| |||fund||funds|funds| |||£||£|£| ||**RECONCILIATION OF FUNDS**||||| ||Total funds brought forward|81,250||47,264|128,514| ||**TOTAL FUNDS CARRIED FORWARD**|73,444||34,816|108,260| |**12.**|**TANGIBLE FIXED ASSETS**||||| |||Freehold|||| |||property||Equipment|Totals| |||£||£|£| ||**COST**||||| ||At 1 January 2023|**2,000**||**66,774**|**68,774**| ||Additions||**-**|**3,386**|**3,386**| ||At 31 December 2023|**2,000**||**70,160**|**72,160**| ||**DEPRECIATION**||||| ||At 1 January 2023||**-**|**65,859**|**65,859**| ||Charge for year||**-**|**496**|**496**| ||At 31 December 2023||**-**|**66,355**|**66,355**| ||**NET BOOK VALUE**||||| ||At 31 December 2023|**2,000**||**3,805**|**5,805**| ||At 31 December 2022|2,000||915|2,915| |**13.**|**FIXED ASSET INVESTMENTS**||||| ||||||Shares in| ||||||group| ||||||undertakings| ||||||£| ||**MARKET VALUE**||||| ||At 1 January 2023 and 31 December 2023||||**100**| ||**NET BOOK VALUE**||||| ||At 31 December 2023||||**100**| ||At 31 December 2022||||100| ||There were no investment assets outside the UK.||||| continued... Page 14 **Harwich Electric Palace Trust** **Notes to the Financial Statements - continued for the Year Ended 31 December 2023** |**14.**
**STOCKS**
Stock of books for resale
**15.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors
Funds held by subsidiary
Prepayments and accrued income
**16.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other creditors
**17.**
**MOVEMENT IN FUNDS**
At 1.1.23
£
**Unrestricted funds**
General fund
**73,444**
**Restricted funds**
Refurbishment project
**34,816**
Royal Opera House
**-**
BFI Film Academy
**-**
Essex Community Foundation
**-**
Harwich Town Council
**-**
**34,816**
**TOTAL FUNDS**
**108,260**|**31.12.23**
**£**
**2,973**
**31.12.23**
**£**
**2,549**
**16,082**
**44**
**18,675**
**31.12.23**
**£**
**1,113**
Net
movement
in funds
£
**(27,614)**
**(34,816)**
**1,245**
**1,800**
**2,106**
**1,449**
**(28,216)**
**(55,830)**|||| |---|---|---|---|---| |||31.12.22
£||| |||||-| |||||| |||31.12.22
£||| ||||-|| ||||42,164
-|| ||||42,164|| |||||| |||31.12.22
£||| |||||1,680| |||||| |||At
31.12.23
£
**45,830**
**-**
**1,245**
**1,800**
**2,106**
**1,449**
**6,600**
**52,430**||| Page 15 continued... **Harwich Electric Palace Trust** **Notes to the Financial Statements - continued for the Year Ended 31 December 2023** ## **17. MOVEMENT IN FUNDS - continued** Net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**Restricted funds**
Refurbishment project
Royal Opera House
BFI Film Academy
Essex Community Foundation
Harwich Town Council
**TOTAL FUNDS**|Incoming
resources
£
**33,302**
**14,064**
**1,245**
**2,250**
**8,840**
**1,905**
**28,304**
**61,606**|Resources
Movement
expended
in funds
£
£
**(60,916)**
**(27,614)**
**(48,880)**
**(34,816)**
**-**
**1,245**
**(450)**
**1,800**
**(6,734)**
**2,106**
**(456)**
**1,449**
**(56,520)**
**(28,216)**
**(117,436)**
**(55,830)**|Resources
Movement
expended
in funds
£
£
**(60,916)**
**(27,614)**
**(48,880)**
**(34,816)**
**-**
**1,245**
**(450)**
**1,800**
**(6,734)**
**2,106**
**(456)**
**1,449**
**(56,520)**
**(28,216)**
**(117,436)**
**(55,830)**| |---|---|---|---| ||||**(28,216)**| ||||**(55,830)**| ## **Comparatives for movement in funds** |**Unrestricted funds**
General fund
**Restricted funds**
Refurbishment project
William Freize Green Project
Cause4 Heritage Compass
**TOTAL FUNDS**|At 1.1.22
£
81,250
45,100
304
1,860
47,264
128,514|Net
movement
in funds
£
(7,806)
(10,284)
(304)
(1,860)
(12,448)
(20,254)|At
31.12.22
£
73,444
34,816
-
-| |---|---|---|---| ||||34,816| ||||108,260| Page 16 continued... **Harwich Electric Palace Trust** **Notes to the Financial Statements - continued for the Year Ended 31 December 2023** ## **17. MOVEMENT IN FUNDS - continued** Comparative net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**Restricted funds**
Refurbishment project
William Freize Green Project
Cause4 Heritage Compass
Grant Education Officer
Young Film Programmers Project
**TOTAL FUNDS**|Incoming
resources
£
28,484
188,806
-
-
2,905
5,772
197,483
225,967|Resources
Movement
expended
in funds
£
£
(36,290)
(7,806)
(199,090)
(10,284)
(304)
(304)
(1,860)
(1,860)
(2,905)
-
(5,772)
-
(209,931)
(12,448)
(246,221)
(20,254)| |---|---|---| The refurbishment project fund was in respect of the major refurbishment work required to the cinema. The BFI Film Academy fund is in respect a grant received from Film Hub South East (BFI) to fund a young film makers programme. The Essex Community Foundation fund is in respect of a grant provided to fund the activities of an education officer to promote autism and dementia activities at the cinema. The Harwich Town Council fund is in respect of a grant to fund the cost of autism and dementia screenings. ## **18. RELATED PARTY DISCLOSURES** The charity is provided with administration services by its subsidiary company. The amount charged in the year was in the sum of £nil (2022: £7,200). As, following the enforced closure due to the refurbishment work, it has taken time for the the subsidiary company to return to its former level of activity, the annual licence fee was waived by the charity for both 2023 and 2022. In addition, the charity made a grant to the company in the sum of £25,500 (2022: £39,453) to assist with paying its operating costs. Page 17 **Harwich Electric Palace Trust** ## **Detailed Statement of Financial Activities for the Year Ended 31 December 2023** ||31.12.23|31.12.22| |---|---|---| ||£|£| |**INCOME AND ENDOWMENTS**||| |**Donations and legacies**||| |Subscriptions and donations|**6,042**|2,917| |Gift aid|**-**|24| ||**6,042**|2,941| |**Other trading activities**||| |Fundraising events|**-**|318| |Wedding income|**935**|1,770| |Hire income|**8,081**|1,420| |Membership income|**837**|3,306| |Concert and show income|**16,627**|18,200| |YFP Income|**150**|-| |Book sales|**360**|-| |Advertising income|**259**|100| ||**27,249**|25,114| |**Investment income**||| |Bank interest receivable|**11**|-| |**Charitable activities**||| |Grants|**28,304**|197,483| |**Other income**||| |Storage re-charge|**-**|429| |**Total incoming resources**|**61,606**|225,967| |**EXPENDITURE**||| |**Fundraising events**||| |Carriage|**37**|-| |Wedding costs|**450**|2,609| |Film Hire|**12,134**|6,256| |Entertainers' fees and expenses|**500**|3,315| |Refreshments for resale|**113**|-| |Books for resale|**48**|-| ||**13,282**|12,180| |**Charitable activities**||| |Other operating leases|**4,336**|3,552| |Carried forward|**4,336**|3,552| This page does not form part of the statutory financial statements Page 18 **Harwich Electric Palace Trust** ## **Detailed Statement of Financial Activities for the Year Ended 31 December 2023** ||31.12.23|31.12.22| |---|---|---| ||£|£| |**Charitable activities**||| |Brought forward|**4,336**|3,552| |Rates and water|**131**|-| |Licences and insurance|**7,751**|8,216| |Postage and stationery|**-**|267| |Advertising|**3,506**|2,372| |Sundries|**198**|52| |Repairs|**23,792**|162,386| |Administration fees|**-**|7,200| |Consultancy|**7,600**|-| |Young film project costs|**802**|4,670| |NLHF project costs|**18,280**|-| |Essex Community Foundation costs|**6,734**|-| |Harwich Town Council costs|**456**|-| |BFI Film Academy costs|**450**|-| |Computer expenses|**1,182**|-| |Subscriptions|**52**|-| |Plant and machinery|**496**|85| |Grants to institutions|**25,500**|39,453| ||**101,266**|228,253| |**Support costs**||| |**Finance**||| |Bank charges|**60**|61| |**Other**||| |Sundries|**1,718**|675| |**Governance costs**||| |Accountancy and legal fees|**1,110**|5,052| |Total resources expended|**117,436**|246,221| |**Net expenditure**|**(55,830)**|(20,254)| |||| This page does not form part of the statutory financial statements Page 19