**REGISTERED CHARITY NUMBER: 1174807** ## **Report of the Trustees and** **Unaudited Financial Statements for the Year Ended 31 December 2024** ## **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 2024** |||**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**|9|to|17| |**Detailed Statement of Financial Activities**|18|to|19| **Harwich Electric Palace Trust** **Report of the Trustees for the Year Ended 31 December 2024** The trustees present their report with the financial statements of the charity for the year ended 31 December 2024. 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. ## **ACHIEVEMENTS AND PERFORMANCE** ## **Charitable activities** Following its successful re-opening in April 2022 after a £1.7m restoration, the Electric Palace has continued to strengthen its role as a cultural and community venue in 2024. The cinema delivered an expanded film programme alongside a growing number of live events. These activities are supported by a volunteer team of around 65 people who contribute across all aspects of operations. The cinema also continues to provide specialist screenings, including dementia friendly and relaxed showings, and supports the development of young film programmers. These initiatives are designed to ensure the venue is inclusive and relevant to a broad cross-section of the Harwich community. ## **Fundraising activities** Turnover increased in 2024 to £120,749 (2023: £96,058), reflecting higher admissions and refreshment sales, as well as £12,500 in new donations. Despite this growth, the charity reported a loss of £4,406, underlining the continuing challenge of meeting operating costs while maintaining affordable community access. In January 2024, the charity was awarded a significant £250,000 National Lottery Heritage Fund grant to deliver a three-year Archive Project, which will secure and interpret the cinema's unique and nationally important artefacts. This project represents a major step forward in preserving the cinema's heritage and broadening its educational and cultural reach. In addition to grant funding, the #OurElectricPalace appeal was launched to encourage local giving and wider community involvement. This campaign, alongside regular fundraising events such as live music and entertainment, has provided vital unrestricted income to support day-to-day running costs and building maintenance, as well as working to update technical equipment. The trustees remain committed to developing sustainable income streams to safeguard the future of both the cinema's operations and its heritage responsibilities Page 1 **Harwich Electric Palace Trust** **Report of the Trustees for the Year Ended 31 December 2024** ## **FINANCIAL REVIEW** ## **Financial position** At the end of the year, the charity had net assets in the sum of £90,825 (2023: £52,430) and this also included restricted grant funding from the Essex Community Foundation, British Film Institute and Harwich Town Council. 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.. ## **Principal funding sources** The charity has historically been substantially funded by the National Lottery Heritage Fund and Historic England to restore the building. By 2023, funding from these grants concluded, with a total in the region of £1.7 million having been received to complete the restoration project. The charity aims to maintain and replenish its core operating reserves through trading surpluses generated by its subsidiary company and through a programme of fundraising events. ## **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 retained in case urgent repairs are required which cannot be met from surpluses generated by the subsidiary company. The trustees consider that the current level of funds is just sufficient for this purpose but additional surpluses and fundraising will be required to support further development of the building and to safeguard the archive assets after the funded Archive project ends in 2027. ## **FUTURE PLANS** The 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. This includes delivering the Archive Project funded by the National Lottery Heritage Funding. 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. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The charity is governed by its constitution adopted in July 2017 and amended on 22 September 2017. ## **Recruitment and appointment of new trustees** The charity undertook a Governance Review in 2022 and again in 2023 via a professional business consultant. As a result, in the last 3 years, several new trustees have been appointed with varied skills and experiences. During the first 6 months of 2025, 3 trustees, including the Chair and Treasurer, resigned their offices and left the charity. As a result the previous Chair resumed the Chairmanship and the organisation is currently trying to recruit a Treasurer. ## **Organisational structure** The trustees formally meet every two months, with additional meetings as required. Day-to-day matters are delegated to a few key trustees and key volunteers. Including the two directors of the charity's subsidiary company, who 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 2024** ## **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 (resigned 13.6.25) D Garner (resigned 9.8.24) D C Perkins (appointed 8.1.24) (resigned 24.2.25) B E Nugent (appointed 8.1.24) W M Linge (appointed 8.1.24) (resigned 16.6.25) 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 21 October 2025 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 2024. ## **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 29 October 2025 Page 4 **Harwich Electric Palace Trust** ## **Statement of Financial Activities for the Year Ended 31 December 2024** |Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
**5,835**
**Charitable activities**
5
Preservation of the Electric Palace cinema
**-**
Other trading activities
3
**34,554**
Investment income
4
**210**
**Total**
**40,599**
**EXPENDITURE ON**
Raising funds
6
**7,469**
**Charitable activities**
7
Preservation of the Electric Palace cinema
**25,234**
**Total**
**32,703**
**NET INCOME/(EXPENDITURE)**
**7,896**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**45,830**
**TOTAL FUNDS CARRIED FORWARD**
**53,726**|Restricted
funds
£
**24,084**
**62,889**
**-**
**-**
**86,973**
**6,091**
**50,383**
**56,474**
**30,499**
**6,600**
**37,099**|**31.12.24**
31.12.23
**Total**
Total
**funds**
funds
**£**
£
**29,919**
6,042
**62,889**
28,304
**34,554**
27,249
**210**
11
**127,572**
61,606
**13,560**
13,281
**75,617**
104,155
**89,177**
117,436
**38,395**
(55,830)
**52,430**
108,260
**90,825**
52,430|**31.12.24**
31.12.23
**Total**
Total
**funds**
funds
**£**
£
**29,919**
6,042
**62,889**
28,304
**34,554**
27,249
**210**
11
**127,572**
61,606
**13,560**
13,281
**75,617**
104,155
**89,177**
117,436
**38,395**
(55,830)
**52,430**
108,260
**90,825**
52,430| |---|---|---|---| ||||| ||||28,304| ||||27,249| ||||11| ||||61,606| ||||13,281| ||||104,155| ||||117,436| ||||(55,830)| ||||108,260| ||||| ||||52,430| The notes form part of these financial statements Page 5 **Harwich Electric Palace Trust** ## **Balance Sheet 31 December 2024** ||||||**31.12.24**|31.12.23| |---|---|---|---|---|---|---| |||Unrestricted|Restricted||**Total**|Total| |||fund|funds||**funds**|funds| ||Notes|£|£||**£**|£| |**FIXED ASSETS**||||||| |Tangible assets|13|**5,142**|**1,900**||**7,042**|5,805| |Investments|14|**100**||**-**|**100**|100| |||**5,242**|**1,900**||**7,142**|5,905| |**CURRENT ASSETS**||||||| |Stocks|15|**2,899**||**-**|**2,899**|2,973| |Debtors|16|**22,924**||**-**|**22,924**|18,675| |Cash at bank||**25,204**|**35,199**||**60,403**|25,990| |||**51,027**|**35,199**||**86,226**|47,638| |**CREDITORS**||||||| |Amounts falling due within one year|17|**(2,543)**||**-**|**(2,543)**|(1,113)| |**NET CURRENT ASSETS**||**48,484**|**35,199**||**83,683**|46,525| |**TOTAL ASSETS LESS CURRENT**||||||| |**LIABILITIES**||**53,726**|**37,099**||**90,825**|52,430| |**NET ASSETS**||**53,726**|**37,099**||**90,825**|52,430| |**FUNDS**|18|||||| |Unrestricted funds|||||**53,726**|45,830| |Restricted funds|||||**37,099**|6,600| |**TOTAL FUNDS**|||||**90,825**|52,430| |||||||| The financial statements were approved by the Board of Trustees and authorised for issue on 21 October 2025 and were signed on its behalf by: D T Looser - Trustee The notes form part of these financial statements Page 6 **Harwich Electric Palace Trust** ## **Cash Flow Statement** ## **for the Year Ended 31 December 2024** |||**31.12.24**|31.12.23| |---|---|---|---| ||Notes|**£**|£| |**Cash flows from operating activities**|||| |Cash generated from operations|1|**36,201**|(35,395)| |Net cash provided by/(used in) operating activities||**36,201**|(35,395)| |**Cash flows from investing activities**|||| |Purchase of tangible fixed assets||**(1,998)**|(3,387)| |Interest received||**210**|11| |Net cash used in investing activities||**(1,788)**|(3,376)| ||||| |**Change in cash and cash equivalents in**|||| |**the reporting period**||**34,413**|(38,771)| |**Cash and cash equivalents at the**|||| |**beginning of the reporting period**||**25,990**|64,761| |**Cash and cash equivalents at the end of**|||| |**the reporting period**||**60,403**|25,990| ||||| 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 2024** |**1.**|**RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM**|**RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM**|| |---|---|---|---| ||**OPERATING ACTIVITIES**||| |||**31.12.24**|31.12.23| |||**£**|£| ||**Net income/(expenditure) for the reporting period (as per the**||| ||**Statement of Financial Activities)**|**38,395**|(55,830)| ||**Adjustments for:**||| ||Depreciation charges|**761**|497| ||Interest received|**(210)**|(11)| ||Decrease/(increase) in stocks|**74**|(2,973)| ||(Increase)/decrease in debtors|**(4,249)**|23,489| ||Increase/(decrease) in creditors|**1,430**|(567)| ||**Net cash provided by/(used in) operations**|**36,201**|(35,395)| ||||| ## **2. ANALYSIS OF CHANGES IN NET FUNDS** ||At 1.1.24|Cash flow|**At 31.12.24**| |---|---|---|---| ||£|£|**£**| |**Net cash**|||| |Cash at bank|**25,990**|**34,413**|**60,403**| ||**25,990**|**34,413**|**60,403**| |**Total**|**25,990**|**34,413**|**60,403**| The notes form part of these financial statements Page 8 **Harwich Electric Palace Trust** **Notes to the Financial Statements for the Year Ended 31 December 2024** ## **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 9 **Harwich Electric Palace Trust** **Notes to the Financial Statements - continued for the Year Ended 31 December 2024** ## **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. ## **Pension costs and other post-retirement benefits** The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. ## **2. DONATIONS AND LEGACIES** |**2.**|**DONATIONS AND LEGACIES**||| |---|---|---|---| |||**31.12.24**|31.12.23| |||**£**|£| ||Subscriptions and donations|**29,919**|6,042| |**3.**|**OTHER TRADING ACTIVITIES**||| |||**31.12.24**|31.12.23| |||**£**|£| ||Wedding income|**4,100**|935| ||Hire income|**12,148**|8,081| ||Membership income|**787**|837| ||Concert and show income|**17,119**|16,627| ||YFP Income|**-**|150| ||Book sales|**141**|360| ||Advertising income|**259**|259| |||**34,554**|27,249| |**4.**|**INVESTMENT INCOME**||| |||**31.12.24**|31.12.23| |||**£**|£| ||Bank interest receivable|**210**|11| ||||| continued... Page 10 **Harwich Electric Palace Trust** **Notes to the Financial Statements - continued for the Year Ended 31 December 2024** |**5.**|**INCOME FROM CHARITABLE ACTIVITIES**|**INCOME FROM CHARITABLE ACTIVITIES**|||| |---|---|---|---|---|---| |||||**31.12.24**|31.12.23| |||Activity||**£**|£| ||Grants|Preservation of the Electric Palace|cinema|**62,889**|28,304| ||Grants received, included in the|above, are as follows:|||| |||||**31.12.24**|31.12.23| |||||**£**|£| ||National Heritage Lottery Fund|||**-**|14,064| ||Historic England|||**6,345**|-| ||Harwich Town Council|||**-**|1,905| ||Royal Opera House|||**-**|1,245| ||BFI Film Academy|||**2,328**|2,250| ||Essex Community Foundation|||**-**|8,840| ||National Lottery Heritage Fund|re Archive project||**43,101**|-| ||Rural England Prosperity Fund|||**11,115**|-| |||||**62,889**|28,304| |**6.**|**RAISING FUNDS**||||| ||**Fundraising events**||||| |||||**31.12.24**|31.12.23| |||||**£**|£| ||Purchases|||**-**|36| ||Wedding costs|||**-**|450| ||Film Hire|||**12,353**|12,134| ||Entertainers' fees and expenses|||**-**|500| ||Refreshments for resale|||**-**|113| ||Books for resale|||**74**|48| ||Our Electric Palace Appeal|||**1,133**|-| |||||**13,560**|13,281| |**7.**|**CHARITABLE ACTIVITIES COSTS**||||| ||||Grant||| ||||funding of||| ||||activities|Support|| |||Direct|(see note|costs (see|| |||Costs|8)|note 9)|Totals| |||£|£|£|£| ||Preservation of the Electric Palace||||| ||cinema|**68,957**|**831**|**5,829**|**75,617**| continued... Page 11 **Harwich Electric Palace Trust** ## **Notes to the Financial Statements - continued for the Year Ended 31 December 2024** ## **8. GRANTS PAYABLE** |**GRANTS PAYABLE**|||| |---|---|---|---| |||**31.12.24**|31.12.23| |||**£**|£| |Preservation of the Electric Palace cinema||**831**|25,500| |The total grants paid to institutions during the year was as follows:|||| |||**31.12.24**|31.12.23| |||**£**|£| |Electric Palace (Harwich) Limited||**831**|25,500| |**SUPPORT COSTS**|||| |||Governance|| ||Finance|costs|Totals| ||£|£|£| |Preservation of the Electric Palace cinema|**386**|**5,443**|**5,829**| ## **9. SUPPORT COSTS** ## **10. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023. ## **Trustees' expenses** Travel expenses totalling £nil (2023: £255) were re-imbursed to trustees in the year. ## **11. STAFF COSTS** The average number of employees in the year was 3 (2023: nil). ## **12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** |Unrestricted
fund
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
6,042
**Charitable activities**
Preservation of the Electric Palace cinema
-
Other trading activities
27,249
Investment income
11
**Total**
33,302
**EXPENDITURE ON**
Raising funds
7,315
**Charitable activities**
Preservation of the Electric Palace cinema
53,601
**Total**
60,916|Restricted
funds
£
-
28,304
-
-
28,304
5,966
50,554
56,520|Total
funds
£
6,042
28,304
27,249
11| |---|---|---| |||61,606| |||13,281
104,155| |||117,436| continued... Page 12 **Harwich Electric Palace Trust** **Notes to the Financial Statements - continued for the Year Ended 31 December 2024** |**12.**|**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|| |||£||£||£|| ||**NET INCOME/(EXPENDITURE)**|(27,614)||(28,216)||(55,830)|| ||**RECONCILIATION OF FUNDS**||||||| ||Total funds brought forward|73,444||34,816||108,260|| ||**TOTAL FUNDS CARRIED FORWARD**|45,830||6,600||52,430|| |**13.**|**TANGIBLE FIXED ASSETS**||||||| |||Freehold|||||| |||property||Equipment||Totals|| |||£||£||£|| ||**COST**||||||| ||At 1 January 2024|**2,000**||**70,160**||**72,160**|| ||Additions||**-**|**1,998**||**1,998**|| ||At 31 December 2024|**2,000**||**72,158**||**74,158**|| ||**DEPRECIATION**||||||| ||At 1 January 2024||**-**|**66,355**||**66,355**|| ||Charge for year||**-**|**761**||**761**|| ||At 31 December 2024||**-**|**67,116**||**67,116**|| ||**NET BOOK VALUE**||||||| ||At 31 December 2024|**2,000**||**5,042**||**7,042**|| ||At 31 December 2023|2,000||3,805||5,805|| |**14.**|**FIXED ASSET INVESTMENTS**||||||| |||||||Shares in|| |||||||group|| |||||||undertakings|| |||||||£|| ||**MARKET VALUE**||||||| ||At 1 January 2024 and 31 December 2024|||||**100**|| ||**NET BOOK VALUE**||||||| ||At 31 December 2024|||||**100**|| ||At 31 December 2023|||||100|| ||There were no investment assets outside the UK.||||||| continued... Page 13 **Harwich Electric Palace Trust** ## **Notes to the Financial Statements - continued for the Year Ended 31 December 2024** |**15.**|**STOCKS**|||| |---|---|---|---|---| ||||**31.12.24**|31.12.23| ||||**£**|£| ||Stock of books for resale||**2,899**|2,973| |**16.**|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||| ||||**31.12.24**|31.12.23| ||||**£**|£| ||Trade debtors||**3,247**|2,549| ||Funds held by subsidiary||**17,917**|16,082| ||Prepayments and accrued income||**1,760**|44| ||||**22,924**|18,675| |**17.**|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||| ||||**31.12.24**|31.12.23| ||||**£**|£| ||Trade creditors||**101**|-| ||Taxation and social security||**1,476**|-| ||Other creditors||**966**|1,113| ||||**2,543**|1,113| |**18.**|**MOVEMENT IN FUNDS**|||| ||||Net|| ||||movement|At| |||At 1.1.24|in funds|31.12.24| |||£|£|£| ||**Unrestricted funds**|||| ||General fund|**45,830**|**7,896**|**53,726**| ||**Restricted funds**|||| ||Royal Opera House|**1,245**|**(1,245)**|**-**| ||BFI Film Academy|**1,800**|**(1,800)**|**-**| ||Essex Community Foundation|**2,106**|**(2,106)**|**-**| ||Harwich Town Council|**1,449**|**(1,449)**|**-**| ||Archive Project|**-**|**1,900**|**1,900**| ||Rural England Prosperity Fund|**-**|**11,115**|**11,115**| ||Our Electric Palace Appeal|**-**|**24,084**|**24,084**| |||**6,600**|**30,499**|**37,099**| ||**TOTAL FUNDS**|**52,430**|**38,395**|**90,825**| continued... Page 14 **Harwich Electric Palace Trust** **Notes to the Financial Statements - continued for the Year Ended 31 December 2024** ## **18. MOVEMENT IN FUNDS - continued** Net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**Restricted funds**
Royal Opera House
BFI Film Academy
Essex Community Foundation
Harwich Town Council
Archive Project
Rural England Prosperity Fund
Our Electric Palace Appeal
**TOTAL FUNDS**
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
**Restricted funds**
Refurbishment project
Royal Opera House
BFI Film Academy
Essex Community Foundation
Harwich Town Council
**TOTAL FUNDS**|Incoming
resources
£
**40,599**
**-**
**2,328**
**-**
**-**
**49,446**
**11,115**
**24,084**
**86,973**
**127,572**
At 1.1.23
£
73,444
34,816
-
-
-
-
34,816
108,260|Resources
Movement
expended
in funds
£
£
**(32,703)**
**7,896**
**(1,245)**
**(1,245)**
**(4,128)**
**(1,800)**
**(2,106)**
**(2,106)**
**(1,449)**
**(1,449)**
**(47,546)**
**1,900**
**-**
**11,115**
**-**
**24,084**
**(56,474)**
**30,499**
**(89,177)**
**38,395**
Net
movement
At
in funds
31.12.23
£
£
(27,614)
45,830
(34,816)
-
1,245
1,245
1,800
1,800
2,106
2,106
1,449
1,449
(28,216)
6,600
(55,830)
52,430| |---|---|---| Page 15 continued... **Harwich Electric Palace Trust** **Notes to the Financial Statements - continued for the Year Ended 31 December 2024** ## **18. MOVEMENT IN FUNDS - continued** Comparative 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)| |---|---|---| The refurbishment project fund was in respect of the major refurbishment work required to the cinema. The Royal Opera House fund is in respect of a grant to cover the cost of live performances to broaden the education of children. 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. The Archive Project fund is in respect of a grant received from National Lottery Heritage Fund to enable the charity to store safely, preserve, order and then archive artefacts from the cinema's 113 year history with the plan to then be able to exhibit the artefacts to public, education and research audiences. The Rural England Prosperity Fund is in respect of funding from Tendring District Council on behalf of the Rural England Prosperity Fund to help with the cost of a new screen for the cinema. The Our Electric Palace Appeal fund is in respect of an appeal to raise funds for a new projector, although any amounts raised in excess of what is needed will be available for general use.. Page 16 continued... **Harwich Electric Palace Trust** **Notes to the Financial Statements - continued for the Year Ended 31 December 2024** ## **19. 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 (2023: £nil). Due to the continuing challenges faced by the subsidiary company, the annual licence fee was waived by the charity for both 2024 and 2023. In addition, the charity made a grant to the company in the sum of £12,500 (2023: £25,500) to assist with paying its operating costs. Page 17 **Harwich Electric Palace Trust** ## **Detailed Statement of Financial Activities for the Year Ended 31 December 2024** ||31.12.24|31.12.23| |---|---|---| ||£|£| |**INCOME AND ENDOWMENTS**||| |**Donations and legacies**||| |Subscriptions and donations|**29,919**|6,042| |**Other trading activities**||| |Wedding income|**4,100**|935| |Hire income|**12,148**|8,081| |Membership income|**787**|837| |Concert and show income|**17,119**|16,627| |YFP Income|**-**|150| |Book sales|**141**|360| |Advertising income|**259**|259| ||**34,554**|27,249| |**Investment income**||| |Bank interest receivable|**210**|11| |**Charitable activities**||| |Grants|**62,889**|28,304| |**Total incoming resources**|**127,572**|61,606| |**EXPENDITURE**||| |**Fundraising events**||| |Carriage|**-**|36| |Wedding costs|**-**|450| |Film Hire|**12,353**|12,134| |Entertainers' fees and expenses|**-**|500| |Refreshments for resale|**-**|113| |Books for resale|**74**|48| |Our Electric Palace Appeal|**1,133**|-| ||**13,560**|13,281| |**Charitable activities**||| |Wages|**28,934**|-| |Social security|**616**|-| |Pensions|**236**|-| |Other operating leases|**3,619**|4,336| |Rates and water|**141**|131| |Licences and insurance|**7,859**|7,751| |Postage and stationery|**281**|-| |Carried forward|**41,686**|12,218| 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 2024** ||31.12.24|31.12.23| |---|---|---| ||£|£| |**Charitable activities**||| |Brought forward|**41,686**|12,218| |Advertising|**118**|3,506| |Sundries|**287**|198| |Repairs|**2,446**|23,792| |Consultancy|**-**|7,600| |Contribution to Electric Palace (Harwich)||| |Limited|**12,500**|-| |Young film project costs|**-**|802| |NLHF project costs|**-**|18,280| |Essex Community Foundation costs|**2,106**|6,734| |Harwich Town Council costs|**-**|456| |BFI Film Academy costs|**731**|450| |Training costs|**224**|-| |Travel expenses|**39**|-| |Recruitment costs|**246**|-| |Computer expenses|**209**|1,182| |Subscriptions|**18**|52| |Archive project - Modes|**160**|-| |Archive project - Preservation|**176**|-| |Archive project - Film production|**5,000**|-| |Archive project - Evaluation|**2,250**|-| |Depreciation - equipment|**761**|497| |Grants to institutions|**831**|25,500| ||**69,788**|101,267| |**Support costs**||| |**Finance**||| |Bank charges|**386**|60| |**Other**||| |Sundries|**-**|1,718| |**Governance costs**||| |Accountancy and legal fees|**4,819**|1,110| |Professional fees|**624**|-| ||**5,443**|1,110| |Total resources expended|**89,177**|117,436| |**Net income/(expenditure)**|**38,395**|(55,830)| |||| This page does not form part of the statutory financial statements Page 19