**Charity registration number: 1184849**
## **International Documentary Festival Sheffield**
**Consolidated Annual Report Year Ended 31 July 2022**
## **International Documentary Festival Sheffield**
## **Consolidated Annual Report**
## **Year Ended 31 July 2022**
## **Contents**
||Page|
|---|---|
|Trustees’ report|1–6|
|Independent auditors’ report|7–9|
|Consolidated Statement of Financial Activities|10|
|Statement of Financial Activities|11|
|Consolidated Balance Sheet|12|
|Consolidated Cash Flow Statement|13|
|Notes to the financial statements|14 - 26|
## **International Documentary Festival Sheffield**
## **Report of the Trustees for the year ended 31 July 2022**
The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS102) in preparing the annual report and financial statements of the charity.
## **Reference and administrative details**
**Official name of charity:** International Documentary Festival Sheffield **Other working name:** Sheffield DocFest **Charity registration number:** 1184849 **Trustees:** A Cooke (Chair) P Armstrong (Resigned 16 November 2022) M Benjamin (Resigned 13 January 2022) S Bowen (Appointed 1 March 2023) J Clinton-Davis B Edwards G Gold (Appointed 21 September 2021) D Gordon (Appointed 21 September 2021) F Khan (Appointed 21 September 2021) J Kimber (Appointed 21 September 2021) D Lawford L McDowell (Appointed 1 March 2023) S Mirzoeff Z Mumba (Appointed 1 March 2023) B Patel (Appointed 21 September 2021) S Sabaratnam (Resigned 16 November 2022) H Scott **Observers:** D Buckley (Sheffield City Council) S Cook (Arts Council England) **Registered Office:** The Workstation 15 Paternoster Row Sheffield S1 2BX **Bankers:** The Co-operative Bank 60/62 Pinstone St Sheffield S1 2HP **Auditors:** Hawsons Chartered Accountants Statutory Auditors Pegasus House 463a Glossop Road Sheffield S10 2QD
1
**International Documentary Festival Sheffield**
## **Report of the Trustees for the year ended 31 July 2022 (continued)**
## **Structure, governance and management**
## _**Constitution**_
International Documentary Festival Sheffield is a registered charity (No. 1184849).
## _**Governing document**_
International Documentary Festival Sheffield is a Charitable Incorporated Organisation governed by its Constitution dated 1 October 2019.
## _**Organisation**_
A board of trustees, with a minimum of four members and no maximum, administers the charity. Observer status at Trustees’ meetings is offered to Sheffield City Council and Arts Council England.
The day-to-day management of the charity is delegated to the Managing Director, within the terms set out in the charity’s constitution.
The current board of trustees offers a wide range of expertise and influence in the documentary sector, from commissioning to development and production, as well as expertise in legal and compliance issues, exhibition, the public sector, diversity and inclusion, local knowledge of the South Yorkshire region and HR.
## _**Recruitment of trustees**_
Trustees are appointed through a structured recruitment process, including a formal application, an interview with a panel of three trustees, and a vote by all of the trustees. Consideration is given to the skills of the current board and the needs of the organisation when recruiting trustees.
Two trustees concluded their terms in November 2022, and, following a Board skills audit, three new trustees were recruited in March 2023, with expertise and experience covering local knowledge of South Yorkshire region, digital technology, human rights law and trusts and foundations.
2022 Board of Trustees representation was 58% female, 8% LGBTQI, 33% ethnic origin other than white.
## _**Trustee induction and training**_
Prior to their appointment a proposed new trustee will meet with the Chair to discuss the role. On appointment they will undertake an induction, to gain a fuller understanding of the charity’s activities and plans and of their obligations as a trustee. In addition, new trustees are offered training in the Roles and Responsibilities of Trustees by an accredited provider. This has been offered to new trustees but not taken up to date. The Deputy Chair renewed their Safeguarding Lead training via High Speed Training in April 2023.
## **Objectives and activities for the public benefit**
The Trustees have complied with the duty in S.4 of the Charities Act 2011 to have due regard to the Charity Commission’s guidance on public benefit.
The objects of the charity are: to advance education, and training, in the art of documentary cinema, film, and new and emerging technologies in the field of film and in all other forms of related artistic or creative work; and to advance the arts and heritage with particular reference to documentary film and all related disciplines.
Our primary activity is the production of an annual international film and arts festival, which celebrates documentary film, encourages critical debate, and stimulates international cultural exchange. Festival activity typically includes:
- public screenings of documentary films made by established and new filmmakers from all over the world, with audience Q&A sessions,
- our long- running ‘Youth Jury’ programme, providing training, mentorship, and panel experience to successful applicants,
- a multidisciplinary digital art programme featuring virtual and augmented reality projects, and interactive documentaries, which is free and open to all,
- industry masterclasses, talks and panel discussions,
- match-made meetings to forge creative partnerships around new projects and ideas,
- opportunities for new and emerging filmmakers and artists to obtain mentoring and advice from industry experts.
2
## **International Documentary Festival Sheffield**
## **Report of the Trustees for the period ended 31 July 2022 (continued)**
## **Objectives and activities for the public benefit (continued)**
In addition to the production of the annual festival, we present documentary film screenings, digital art exhibitions and talks, both locally and nationally, in order to reach new audiences and to maintain our relationship with existing audiences.
In previous years we have received funding to support stand-alone training and mentoring programmes such as ‘Future Producer School’ and ‘Focus: F ilmmaker Challenge’.
## _**Activities during the period to 31 July 2022**_
In June 2022 we presented a predominantly in-person festival over six days: 23-28 June. 135 films were presented at public film screenings, further talks and exhibitions took place in cinemas and gallery spaces. An online programme of 20 film titles supplemented the in-person screenings and total festival admissions across all films and events in-person and online exceeded 30,0000 admits. More than 300 volunteers supported the return of the festival to in-person delivery.
## _**Leadership change**_
In October 2021 we welcomed Clare Stewart, a former festival director of BFI London Film Festival, BFI Flare and Sydney Film Festival, as Interim CEO. Clare delivered the 2022 festival and oversaw the restructure of festival management to create two co-director roles: Managing Director and Creative Director. Raul Niño Zambrano was elevated from Head of Film Programme within the festival to Acting Creative Director in June 2022 with the position confirmed on a permanent basis in March 2023. Following open recruitment in Autumn 2022, Annabel Grundy was appointed as Managing Director in November 2022 and commenced in the role at the end of December 2022. Annabel is implementing the two-year festival plan drafted by Clare Stewart and developing a longer-term business plan for the organisation from 2024 onward.
## **Achievements and performance**
## _**Sheffield DocFest 2022**_
In preparation for our 2022 festival, we created a new brand identity and website with the tagline _Reconnect with Documentary_ .
From survey responses, 47% of our public audience and 38% of our ‘industry’ attendees were new to the festival, highlighting changes in audience behaviours post-pandemic, and a shift toward higher proportions of younger new audiences than returning, for UK cinema.
## _**Film Programme**_
- 135 documentaries were shown, from 55 countries with 58 spoken languages represented.
- T he ‘official selection’ included 3 8 World Premieres, 22 International Premieres, 11 European Premieres and 46 UK Premieres.
- 18 films in the programme were archive presentations across our special focus programmes.
3
## **International Documentary Festival Sheffield**
## **Report of the Trustees for the period ended 31 July 2022 (continued)**
## **Achievements and performance (continued)**
## _**Arts Programme**_
- Our Alternate Realities programme returned to an in-person exhibition presenting 29 works across 8 venues in Sheffield reaching more than 5,855 in-venue audiences and online presentations of 15 works reaching more than 1,485 people online.
- Our original commission: _Feminist Economics Football: A Cooperative Game for Sheffield_ was a live three-sided match, played on a hexagonal pitch during the festival and open to the public. The game –
- was filmed and edited into a work shown at Site Gallery the festival’s main exhibition space.
- The exhibition at Site Gallery was extended for two weeks beyond the duration of the festival so that public audiences in Sheffield could experience and enjoy the exhibition.
## _**Community programme**_
- Three free community workshops were presented during the festival: _A Right to Roam Ramble_ group –
- walk and discussion; _Exploring Masculinity One Day at a Time_ centred on building confidence and self-esteem; _Meet the Movie Makers_ – drop in filmmaking and informal chats with the Bradford based protagonists from Audience Award-winning film _A Bunch of Amateurs_ .
- The programme also featured a live performance by local folk musicians, creating connections between the trad music scene and Irish community in Sheffield and the community of Dublin musicians in _North_ Circular’s Cobblestone.
- All films had free places for people on a low income or who might benefit from support to attend – all with a focus on tackling social isolation and bringing people together.
## _**Talks & Sessions Programme**_
- More than 150 industry professionals spoke at our programme of talks and sessions addressing topics such as craft-based excellence in editing and composing, through to bullying and harassment and transled representation on and off screen.
- Three pitch events took place with UK Broadcasters and funders, awarding commissions and funding to new talent.
## _**Industry Programme**_
- 39 pitching teams took over 1,095 match-made, largely in-person, meetings with industry representatives.
- Pre-market mentoring was provided for pitching teams.
- The industry team introduced a Work in Progress strand to showcase films in progress seeking support and partnerships
- 17 new talents were supported via our Amplify and Alternate Realities Talent Markets.
## _**Audience Reach and Accessibility**_
- 15% of our survey respondents identify as LGBTQI+.
- 11% of our survey respondents said that their day-to-day activities are limited due to a health problem or disability.
- 20% of our survey respondents said that they consider themselves to come from a disadvantaged background.
- 27% of our survey respondents identify themselves as having an ethnic background that is not white.
## **Financial Review**
The charity’s financial year end coincides with the end of the festival cycle, one month after the month of festival delivery.
The twelve-month period encompasses our 2022 festival and some limited year-round delivery up to 31 July 2022.
The group’s Statement of Financial Activities shows a surplus for the period of £ 41,685 with total funds of £123,791 carried forward.
4
## **International Documentary Festival Sheffield**
## **Report of the Trustees for the period ended 31 July 2022 (continued)**
## **Financial Review (continued)**
## _**Reserves**_
The charity holds unrestricted reserves. At the period end, the balance of unrestricted funds is £123,791 (prior period end £61,148). No restricted reserves are held at the end of July 2022.
The Trustees are committed to the management of activities within the available funds.
The Trustees aspire to increase the level of unrestricted reserves over the next three to five years to three months’ averaged operating costs, to cover potential short term fluctuations in funding levels, other business risks and working capital requirements. Further modelling of the rate of growth of reserves is under review with trustees as of March 2023.
## _**Principal risks and uncertainties**_
In filing the Annual Return, the charity declares that it has reported all serious incidents.
A key area of risk for the charity is meeting its income targets. This is mitigated by the careful planning and monitoring of expenditure as well as informed and prudent forecasting related to earned income.
The impact of the current cost-of-living crisis in the UK, inflationary pressures and post-pandemic disruption to screen industry business models poses a risk to the charity regarding the level of corporate sponsorship available. This is mitigated by clear targets for new and returning partnerships and a planned approach to generating and developing new sponsorship and grant funding relationships. In 2023 we were successful in gaining an increase in grant funding from BFI for the 2023 edition, as well as a multi-year commitment for support of our 2023 and 2024 festival editions. Our returning regular (more than 3 consecutive years support) sponsors increased their support to us by a combined 24%. Finally, we are in conversation with Sheffield City Council to renew multi-year funding for 2024-26, to be confirmed in later 2023.
Another area is the ongoing impact of the COVID-19 pandemic, and its effect on the behaviours of in-person audiences for cinema screenings and live events, creating an element of uncertainty and unpredictability around ticket sales and attendance.
In June 2022 we returned to a predominantly in-person event after an online only (2020) and a hybrid (2021) edition. 2,188 industry delegates attended the festival, a 37% decrease on pre-pandemic levels, reflecting both ongoing audiences’ reticence around the risks of COVID -19 at this time and the impact of train strikes coinciding with the 2022 edition.
Although audiences are returning to cinemas, and trends for our 2023 edition are showing a projected increase in both audience and delegate numbers, we will continue to use our data and knowledge from that time to learn how to continue to reach audiences in new and innovative ways, for example through online provision and the development of monthly screenings and year-round touring programmes. In addition, we will continue to work closely with local and National partners to expand our profile and to listen to peer-concerns and experience in audience building.
The charity applied to remain part of the Arts Council o f England’s National Portfolio in 2022 but was unsuccessful. In 2023 we received the full amount of ‘transition funding’ available to assist with exiting the portfolio and delivering our public arts programme: Alternate Realities in our 2023 edition. We intend to apply for further project funding for 2024 and 2025 activity, with a view to reapplying as an ‘NPO’ organisation from 2026.
On August 4th 2022 the charity drew down an unsecured loan of £154,500 from the Government Recovery Loan Fund (via Social Investment Business Loans Limited) to assist with short term liquidity. The term of the loan is 48 months, with an initial capital repayment holiday of 12 months.
5
## **International Documentary Festival Sheffield**
## **Report of the Trustees for the period ended 31 July 2022 (continued)**
## Trustees’ responsibilities in relation to the financial statements
The Trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP 2019 (FRS102)
- 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 in operation.
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 Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **Statement of disclosure to auditors**
The Trustees of the charity at the date of approval of this Annual Report each confirm that:
- as far as they are aware, there is no relevant audit information (information needed by the charit y’s auditors in connection with preparing their report) of which the charit y’s auditors are unaware; and
- they have taken all the steps that they ought to take as trustees in order to make themselves aware of any audit information and to establish that the charit y’s auditors are aware of that information.
On behalf of the Trustees,
Alex Co ~~o~~ ke (Jun 29, 2023 18:26 GMT+1) ………………………………….. **A Cooke**
## Jun 29, 2023
…………………………………..
6
## **International Documentary Festival Sheffield**
## Independent Auditors’ report to the members of **International Documentary Festival Sheffield**
## **Opinion**
We have audited the financial statements of International Documentary Festival Sheffield (the ‘parent charity’) and its subsidiary (the 'group') for the period ended 31 July 2022 which comprise the Statement of Financial Activities, the Consolidated Statement of Financial Activities, the Balance Sheet, the Consolidated Balance Sheet, the Consolidated Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
- give a true and fair view of the state of the group's and parent charity’s affairs as at 31 July 2022, and of its incoming resources and application of resources, for the period then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-
- have been prepared in accordance with the requirements of the Charities Act 2011.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements t hat are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
## **Other Information**
The Trustees are responsible for the other information. The other information comprises the information included in the Trustees’ report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
7
## **International Documentary Festival Sheffield**
## Independent Auditors’ report to the members of **International Documentary Festival Sheffield (continued)**
## **Matters on which we are required to report by exception**
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:
- the information given in the financial statements is inconsistent in any material respect with the trustees’ report; or
-
-
-
- sufficient accounting records have not been kept; or
- the financial statements are not in agreement with the accounting records; or
- we have not received all the information and explanations we require for our audit.
## **Responsibilities of Trustees**
As explained more fully in the Trustees’ responsibilities statement set out on page 6, the Trustees are responsible for the preparation of financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the T rustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
## Auditor’s responsibility for the audit of the financial statements
We have been appointed as auditor under section 151 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
The charity is subject to laws and regulations that directly and indirectly affect the financial statements. Based on our understanding of the charity and the environment it operates within, we determined that the laws and regulations which were most significant included FRS 102, Charities Act 2011 and Health and Safety regulations. We considered the extent to which non-compliance with these laws and regulations might have a material effect on the financial statements, including how fraud might occur. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to the posting of inappropriate journal entries to improve the charity’ s result for the period, and management bias in key accounting estimates.
8
## **International Documentary Festival Sheffield**
## Independent Auditors’ report to the members of **International Documentary Festival Sheffield (continued)**
Audit procedures performed by the engagement team included:
- Discussions with management and those responsible for legal compliance procedures within the charity to obtain an understanding of the legal and regulatory framework applicable to the charity and how the charity complies with that framework, including consideration of known or suspected instances of non-compliance with laws and regulations and fraud;
- Reviewing minutes of Trustee meetings;
- Identifying and assessing the design effectiveness of controls that management has in place to prevent and detect fraud and non-compliance with laws and regulations;
- Challenging assumptions and judgements made by management in their significant accounting estimates;
- Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations or posted by senior management.
There are inherent limitations in the audit procedures described above and the more removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.
A further description of our responsibilities is available on the Financial Reporting Council's website at www.frc.org.uk/auditors/audit-assurance/auditor-s-responsibilities-for-the-audit-of-the-fi/description-of -the- auditor’s -responsibilities-for. This description forms part of our auditor's report.
## **Use of our report**
This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s T rustees as a body, for our audit work, for this report, or for the opinions we have formed.
## Hawsons
…………………………………..
Hawsons Chartered Accountants
Statutory Auditors
Pegasus House 463a Glossop Road Sheffield S10 2QD
## 30 June 2023
## Date: …………………………
Hawsons Chartered Accountants is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.
9
**International Documentary Festival Sheffield**
## **Consolidated Statement of Financial Activities**
## **Year Ended 31 July 2022**
|Notes
**Incoming Resources**
Grants and donations
2
Activities for generating funds
4
Charitable activities
3
**Total incoming resources**
**Resources expended**
Costs of generating
voluntary income
7
Charitable activities
8
Other costs
9
**Total resources expended**
**Net incoming/(outgoing)**
**resources**
Transfers
**Net movement in funds**
**Funds brought forward**
**Funds carried forward**|Unrestricted
Funds
£
403,588
428,130
308,664
1,140,382
10,000
1,056,189
10,000
1,076,189
64,193
(1,550)
62,643
61,148
123,791|Restricted
Funds
£
378,960
-
-
378,960
-
401,468
-
401,468
(22,508)
1,550
(20,958)
20,958
-|Year
ended
31 July
2022
Total
£
782,548
428,130
308,664
1,519,342
10,000
1,457,657
10,000
1,477,657
41,685
-
41,685
82,106
123,791|Period
ended
31 July
2021
Total
£
1,315,683
236,356
197,453|
|---|---|---|---|---|
|||||1,749,492|
|||||10,000
1,597,375
10,000|
|||||1,617,375|
|||||132,117
-|
|||||132,117
(50,011)|
|||||82,106|
10
**International Documentary Festival Sheffield**
## **Statement of Financial Activities**
## **Year Ended 31 July 2022**
|Notes
**Incoming Resources**
Grants and donations
2
Other income
4
Charitable activities
3
**Total incoming resources**
**Resources expended**
Costs of generating
voluntary income
7
Charitable activities
8
Other costs
9
**Total resources expended**
**Net incoming/(outgoing)**
**resources**
Transfers
**Net movement in funds**
**Funds brought forward**
**Funds carried forward**|Unrestricted
Funds
£
403,588
427,000
308,664
1,139,252
10,000
1,054,136
10,000
1,074,136
65,116
(1,550)
63,559
61,292
124,858|Restricted
Funds
£
378,960
-
-
378,960
-
401,468
-
401,468
(22,508)
1,550
(20,958)
20,958
-|Year
ended
31 July
2022
Total
£
782,548
427,000
308,664
1,518,212
10,000
1,455,604
10,000
1,475,604
42,608
-
42,608
82,250
124,858|Period
ended
31 July
2021
Total
£
1,315,683
228,000
197,453|
|---|---|---|---|---|
|||||1,741,136|
|||||10,000
1,588,875
10,000|
|||||1,608,875|
|||||132,261
-|
|||||132,261
(50,011)|
|||||82,250|
11
## **International Documentary Festival Sheffield**
## **Balance Sheets**
## **31 July 2022**
|Notes
**FIXED ASSETS**
Tangible fixed assets
15
Investments
16
**CURRENT ASSETS**
Debtors
17
Cash at bank and in hand
**CREDITORS** –amounts
18
falling due within
one year
**Net current assets**
Total assets less current
liabilities
**NET ASSETS**
**CHARITY FUNDS**
Unrestricted funds
21
Restricted funds
20
**TOTAL CHARITY FUNDS**|31 July
2022
Group
Charity
£
£
753
753
-
10
753
763
571,564
542,621
62,232
62,232
633,796
604,853
(510,758)
(480,758)
123,038
124,095
123,791
124,858
123,791
124,858
123,791
124,858
-
-
123,791
124,858|31 July
2021
Group
Charity
£
£
2,658
2,658
-
10
2,658
2,668
164,697
145,927
218,979
218,979
383,676
364,906
(304,228)
(285,324)
79,448
79,582
82,106
82,250
82,106
82,250
61,148
61,292
20,958
20,958
82,106
82,250|31 July
2021
Group
Charity
£
£
2,658
2,658
-
10
2,658
2,668
164,697
145,927
218,979
218,979
383,676
364,906
(304,228)
(285,324)
79,448
79,582
82,106
82,250
82,106
82,250
61,148
61,292
20,958
20,958
82,106
82,250|
|---|---|---|---|
||||2,668|
||||145,927
218,979|
||||364,906
(285,324)|
||||79,582|
||||82,250|
||||82,250|
||||61,292
20,958|
||||82,250|
Jun 29, 2023
The financial statements were approved by the board of trustees on ……………………………. and signed on its behalf by:
Alex Co ~~o~~ ke (Jun 29, 2023 18:26 GMT+1)
……………………………………..
**A Cooke** – Trustee
12
## **International Documentary Festival Sheffield**
## **Consolidated Cash Flow Statement**
## **Year ended 31 July 2022**
|Notes
**Cash flow from operating activities**
22
**Cash flow from investing activities**
Payments to acquire tangible fixed assets
**Net cash flow from investing activities**
**Net (decrease) / increase in cash and cash equivalents**
**Cash and cash equivalents at 1 August**
**Cash and cash equivalents at 31 July**
**Cash and cash equivalents consist of:**
Cash at bank and in hand
Short term deposits
**Cash and cash equivalents at 31 July**|2022
£
(156,747)
-
-
(156,747)
218,979
62,232
62,232
-
62,232|2021
£
67,512
(2,830)|
|---|---|---|
|||(2,830)|
|||64,682
154,297|
|||218,979|
|||218,979
-|
|||218,979|
13
**International Documentary Festival Sheffield**
## **Notes on accounts**
## **Year ended 31 July 2022**
## **1. Accounting policies**
The following accounting policies have been used consistently in dealing with items which are considered material to the charity ’s affairs.
## **Statutory information**
International Documentary Festival Sheffield is a charitable incorporated organisation (No. 1184849) domiciled in England and Wales. The registered office is at The Workstation, 15 Paternoster Row, Sheffield, S1 2BX.
## **Basis of preparation**
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice. There has been no material departure from these standards.
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. The presentation currency is United Kingdom pounds sterling. The financial statements are those of the charity as an individual entity.
## **Consolidation**
These financial statements consolidate the results of the charity and its wholly owned subsidiary, Sheffield DocFest Limited, on a line by line basis.
## **Going Concern**
After due consideration of all relevant factors, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the annual report and accounts.
## **Tangible assets**
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
## **Depreciation**
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
**Asset class Depreciation method and rate** Fixtures, fittings and equipment 10-33% straight line
14
**International Documentary Festival Sheffield**
## **Notes on accounts (continued)**
## **Year ended 31 July 2022**
## **1. Accounting policies (continued)**
## **Grants and donations**
Grants receivable are recognised in the Statement of Financial Activities when the conditions for receipt have been complied with.
## **Resources expended**
Expenditure is included on an accruals basis.
## **Allocation of costs**
Costs directly related to an activity are allocated to that activity. Support costs which are necessary to deliver an activity but do not themselves deliver the activity, are allocated in proportion to the benefit attributable based on an internal assessment of time spent and resources used.
Governance costs are those costs incurred in meeting statutory and constitutional requirements.
Support costs include central functions and have been allocated to activity cost categories on the basis of time spent.
## **Funds**
Incoming and outgoing resources are analysed between restricted and unrestricted funds.
## _Restricted income funds_
These funds arise from grants received which are required to be used for specific projects of a revenue nature.
## _Unrestricted funds_
These funds are expendable at the discretion of the Trustees in the furtherance of the objectives of the charity and have not been designated for other purposes.
## **Finance and operating leases**
Rentals applicable to operating leases are charged to the SOFA over the period in which the cost is incurred. Assets purchased under finance leases are capitalised as fixed assets. Obligations under such agreements are included in creditors. The difference between the capitalised cost and the total obligation under the lease represents the finance charges. Finance charges are written off to the SOFA over the period of the lease so as to produce a constant periodic rate of change.
## **Financial instruments**
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
15
## **International Documentary Festival Sheffield**
## **Notes on accounts (continued)**
## **Year ended 31 July 2022**
|**2.**
**Grants & donations**
**Restricted**
Art Council England NPO
BFI International Fund
Wellcome Trust
Media Access to Markets Fund
(Creative Europe)
British Council
US Embassy
Cooper Gallery Barnsley
Total restricted
**Unrestricted**
Sheffield City Council
UK Trade and Investment
Film in Limerick
BFI
BBC
Channel 4
ITV Productions
University of Sheffield
Creative Scotland
Getty Images
PBS America
Whicker's World Foundation
Irish Delegation
Site Gallery
General donation income
Government furlough scheme
Universal Pictures
The Bertha Foundation
Total unrestricted
**3.**
**Income from charitable activities**
Ticket sales
Film submissions
Delegate income|Period
ended
31 July
2022
Group
£
178,526
70,000
26,000
50,264
38,770
12,900
2,500
378,960
100,000
-
9,942
210,000
261
475
-
20,000
-
-
-
-
-
7,000
3,935
-
26,975
25,000
403,588
Period
ended
31 July
2022
Group
£
46,958
73,111
188,595
308,664|Period
ended
31 July
2022
Charity
£
178,526
70,000
26,000
50,264
38,770
12,900
2,500
378,960
100,000
-
9,942
210,000
261
475
-
20,000
-
-
-
-
-
7,000
3,935
-
26,975
25,000
403,588
Period
ended
31 July
2022
Charity
£
46,958
73,111
188,595
308,664|Period
ended
31 July
2021
Group
£
234,494
60,000
28,782
51,082
-
-
-
374,358
300,000
10,000
8,325
420,000
41,000
40,000
35,000
8,333
5,890
8,000
5,000
9,796
5,580
5,000
24,667
2,234
-
12,500
941,325
Period
ended
31 July
2021
Group
£
29,353
76,779
91,321
197,453|Period
ended
31 July
2021
Charity
£
234,494
60,000
28,782
51,082
-
-
-|
|---|---|---|---|---|
|||||374,358|
|||||300,000
10,000
8,325
420,000
41,000
40,000
35,000
8,333
5,890
8,000
5,000
9,796
5,580
5,000
24,667
2,234
-
12,500|
|||||941,325|
|||||Period
ended
31 July
2021
Charity
£
29,353
76,779
91,321
197,453|
16
**International Documentary Festival Sheffield**
## **Notes on accounts (continued)**
## **Year ended 31 July 2022**
|**4.**
**Other income**
**Activities for generating funds**
Sponsorship
**Other income**
Management charge
**5.**
**Net outgoing resources**
This is stated after charging
Depreciation
Government furlough scheme|Period
ended
31 July
2022
Group
£
428,130
-
Period
ended
31 July
2022
Group
£
1,905
-|Period
ended
31 July
2022
Charity
£
-
427,000
Period
ended
31 July
2022
Charity
£
1,905
-|Period
Period
ended
ended
31 July
31 July
2021
2021
Group
Charity
£
£
236,356
-
-
228,000
Period
Period
ended
ended
31 July
31 July
2021
2021
Group
Charity
£
£
3,951
3,951
(2,234)
(2,234)|
|---|---|---|---|
## **6.** Auditor’s remuneration
The auditor’s remuneration amounts to a fee of £6,500 (2021: £5,900) and £6,150 (2021: £6,100) in respect of other services.
## **7. Cost of generating voluntary income**
|Support costs (note 10)|Period
ended
31 July
2022
Group
£
10,000|Period
ended
31 July
2022
Charity
£
10,000|Period
ended
31 July
2021
Group
£
10,000|Period
ended
31 July
2021
Charity
£
10,000|
|---|---|---|---|---|
17
## **International Documentary Festival Sheffield**
## **Notes on accounts (continued)**
## **Year ended 31 July 2022**
|**9.**
**Other costs**
Support costs (note 10)
**8.**
**Charitable activities**
Wages and salaries
Festival programmer,
press and other salaries
Festival, print & publicity
Social events, receptions, sessions
and projects
Print hire and transport
Equipment hire
Travel and accommodation
Advertising
Venue hire
Support costs (note 10)
Total cost of charitable activities|Period
ended
31 July
2022
Group
£
10,000
Period
ended
31 July
2022
Group
£
446,758
348,472
241,892
114,573
11,703
35,740
16,006
66,586
112,373
1,394,103
63,554
1,457,657|Period
ended
31 July
2022
Charity
£
10,000
Period
ended
31 July
2022
Charity
£
446,758
348,472
241,892
114,573
11,703
35,740
16,006
64,586
112,373
1,392,103
63,501
1,455,604|Period
ended
31 July
2021
Group
£
10,000
Period
ended
31 July
2021
Group
£
595,362
376,375
274,411
30,446
41,645
45,835
183
55,880
65,455
1,485,592
111,783
1,597,375|Period
ended
31 July
2021
Charity
£
595,362
376,375
274,411
30,466
41,645
45,835
183
47,380
65,455|
|---|---|---|---|---|
|||||1,477,092
111,783|
|||||1,588,875|
|||||Period
ended
31 July
2021
Charity
£
10,000|
18
## **International Documentary Festival Sheffield**
## **Notes on accounts (continued)**
## **Year ended 31 July 2022**
|**10.**
**Indirect support costs**
Rent and rates
Light, heat and power
Insurance
Repairs and renewals
Telephone and fax
Printing, postage and stationery
Sundry expenses
Cleaning
Auditor's remuneration
Legal and professional fees
Bank charges
Depreciation
IT expenses
Subscriptions
_Allocation_
Cost of generating voluntary income
Charitable activities
Other costs|Period
ended
31 July
2022
Group
£
33,678
3,819
7,668
-
1,912
286
854
960
7,050
12,129
1,520
1,904
11,228
493|Period
ended
31 July
2022
Charity
£
33,678
3,819
7,668
-
1,912
286
854
960
7,050
12,129
1,520
1,904
11,228
493|Period
ended
31 July
2021
Group
£
35,471
7,503
14,091
-
2,385
565
2,605
1,293
20,050
24,766
2,104
3,951
16,699
300|Period
ended
31 July
2021
Charity
£
35,471
7,503
14,091
-
2,385
565
2,605
1,293
20,050
24,766
2,104
3,951
16,699
300|
|---|---|---|---|---|
||83,501
10,000
63,501
10,000
83,501|83,501
10,000
63,501
10,000
83,501|131,783
10,000
111,783
10,000
131,783|131,783|
|||||10,000
111,783
10,000|
|||||131,783|
Charitable costs are primarily for the hosting of the annual International Documentary Festival in Sheffield.
**11. Staff costs and trustees remuneration**
|**Staff costs and trustees remuneration**|||||
|---|---|---|---|---|
|Wages and salaries
Social security costs
Pension costs|Period
ended
31 July
2022
Group
£
745,025
40,971
9,235
795,231|Period
ended
31 July
2022
Charity
£
745,025
40,971
9,235
795,231|Period
ended
31 July
2021
Group
£
903,022
56,691
12,024
971,737|Period
ended
31 July
2021
Charity
£
903,022
56,691
12,024|
|||||971,737|
The average number of employees during the period was 13 (2021: 15).
19
## **International Documentary Festival Sheffield**
## **Notes on accounts (continued)**
## **Year ended 31 July 2022**
## **11. Staff costs and trustees remuneration (continued)**
The full time equivalent number of staff who received emoluments in excess of £60,000 excluding pension contributions were as shown below:
||**2022**|**2021**|
|---|---|---|
|£60,000 - £69,999|1|1|
|£100,000 - £109,999|0|1|
The Trustees neither received nor waived any remuneration during the period. Two trustees had expenses reimbursed during the period totalling £488 (2021: £234) in relation to training courses, travel and subsistence.
The total amount of employee benefits received by key management personnel is £279,117 (2021: £403,786). The key management personnel of the charity comprise the trustees and the Senior Management Team, which at the period end comprises the staff members listed below.
Festival Director Interim CEO Deputy Festival Director Industry Director Director of Partnerships and Development Head of HR and Participation Head of Operations and Production Finance Manager Creative Director
## **12. Fundraising trading from trading activities of subsidiary**
On 17 March 2021, the charity established a wholly owned subsidiary, Sheffield DocFest Limited. The wholly owned subsidiary is used for trading activities to generate income to support the direct charitable activities of the group. The net profits of the subsidiary are gifted to the charity.
A summary of their trading results is shown below:
|Turnover
Administrative expenses
Loss on ordinary activities before taxation
Net loss for the year retained|£
428,130
(429,053)
(923)|
|---|---|
||(923)|
## **13. Analysis of net assets between funds**
## **2022 - Group**
|Tangible fixed assets
Current assets
Current liabilities|Unrestricted
753
633,796
(510,758)
123,791|Restricted
-
-
-
-|Total
£
753
633,796
(510,758)|
|---|---|---|---|
||||123,791|
20
**International Documentary Festival Sheffield**
## **Notes on accounts (continued)**
## **Year ended 31 July 2022**
|**13.**
**Analysis of net assets between funds (continued)**
**2022**–**Charity**
Unrestricted
Tangible fixed assets
763
Current assets
604,853
Current liabilities
(480,758)
124,858
**2021**–**Group**
Unrestricted
Tangible fixed assets
2,658
Current assets
362,718
Current liabilities
(304,228)
61,148
**2021**–**Charity**
Unrestricted
Tangible fixed assets
2,668
Current assets
343,948
Current liabilities
(285,324)
61,292
**14.**
**Financial commitments**
2022
Group
Charity
As at 31 July the annual
commitments under non-cancellable
operating leases were as follows:-
£
£
Due within 1 year
18,701
18,701
Due within 1 to 2 years
1,750
1,750
20,451
20,451|**13.**
**Analysis of net assets between funds (continued)**
**2022**–**Charity**
Unrestricted
Tangible fixed assets
763
Current assets
604,853
Current liabilities
(480,758)
124,858
**2021**–**Group**
Unrestricted
Tangible fixed assets
2,658
Current assets
362,718
Current liabilities
(304,228)
61,148
**2021**–**Charity**
Unrestricted
Tangible fixed assets
2,668
Current assets
343,948
Current liabilities
(285,324)
61,292
**14.**
**Financial commitments**
2022
Group
Charity
As at 31 July the annual
commitments under non-cancellable
operating leases were as follows:-
£
£
Due within 1 year
18,701
18,701
Due within 1 to 2 years
1,750
1,750
20,451
20,451||Restricted
Total
£
-
763
-
604,853
-
(480,758)
-
124,858
Restricted
Total
£
-
2,658
20,958
383,676
-
(304,228)
20,958
82,106
Restricted
Total
£
-
2,668
20,958
364,906
-
(285,324)
20,958
82,250
2021
Group
Charity
£
£
8,061
8,061
-
-
8,061
8,061|Total
£
763
604,853
(480,758)
124,858
Total
£
2,658
383,676
(304,228)|
|---|---|---|---|---|
|||||82,106|
||||||
||20,451||||
Lease expenses totalling £20,151 (2021: £19,576) have been recognised in the statement of financial activities for the period.
21
**International Documentary Festival Sheffield**
## **Notes on accounts (continued)**
## **Year ended 31 July 2022**
|**15.**
**Tangible fixed assets**
**Group and charity**
**Cost**
At 1 August 2021
Additions
At 31 July 2022
**Depreciation**
At 1 August 2021
Charge for the period
At 31 July 2022
**Net book value**
At 31 July 2022
At 1 August 2021|Fixtures
Fittings &
equipment
£
10,805
-
10,805
8,147
1,905
10,052
753
2,658|Total
£
10,805
-|
|---|---|---|
|||10,805|
|||8,147
1,905|
|||10,052|
|||753|
|||2,658|
## **16. Investment in subsidiary undertakings**
## **Cost of shares in subsidiary undertaking**
At 1 August 2021 and at 31 July 2022
£ 10
The subsidiary of the charity at 31 July 2022 (incorporated in England) was:
||Class of||Direct/|Aggregate||
|---|---|---|---|---|---|
||shares||indirect|capital and|Loss|
||held|% held|holding|reserves|for the year|
|||||£|£|
|**Sheffield DocFest Limited**
**13274186**|Ordinary|100|Direct|(1,057)|(923)|
The principal activity of Sheffield DocFest Limited is to operate commercial activities of its parent charity.
22
**International Documentary Festival Sheffield**
## **Notes on accounts (continued)**
## **Year ended 31 July 2022**
|**17.**
**Debtors**
**Due within one year**
Trade debtors
Group balances
Other debtors
Prepayments and accrued income
**18.**
**Creditors**
**Amounts falling due within one year**
Trade creditors
Other creditors
Taxation and social security
Accruals and deferred income
Group balances
**19.**
**Deferred income**
Balance at beginning of period
Amounts received during the period
Amount released in the period
Balance at the end of the period|2022
£
Group
243,876
-
814
326,874
571,564
2022
£
Group
287,630
7,107
22,226
193,795
-
510,758
2022
£
Group
68,296
20,720
(38,296)
50,720|2022
£
Charity
98,616
116,317
814
326,874
542,621
2022
£
Charity
287,630
7,107
22,226
163,795
-
480,758
2022
£
Charity
38,296
20,720
(38,296)
20,720|2021
£
Group
20,032
27,163
117,502
164,697
2021
£
Group
101,577
1,469
10,994
190,188
-
304,228
2021
£
Group
211,059
68,296
(211,059)
68,296|2021
£
Charity
1,682
26,743
117,502|
|---|---|---|---|---|
|||||145,927|
|||||2021
£
Charity
101,577
1,469
9,194
160,188
12,896|
|||||285,324|
|||||2021
£
Charity
211,059
38,296
(211,059)|
|||||38,296|
The above income has been deferred in relation to the 2023 festival. The relevant entitlement conditions have not been met, as a result the charity has not been able to recognise it as income in the current period.
23
**International Documentary Festival Sheffield**
## **Notes on accounts (continued)**
## **Year ended 31 July 2022**
## **20. Restricted funds**
|**2022**
**Restricted income funds**
Wellcome Trust
Marketplace (BFI)
Alternate Realities
Programme (ACE)
Creative Europe (Market)
US Embassy
British Council (Ukraine)
**2021**
**Restricted income funds**
Wellcome Trust
Marketplace (BFI)
Arts Programme (ACE)
Creative Europe (Market)|Balance at
beginning
of period
£
10,187
-
261
10,510
-
-
20,958
Balance at
beginning
of period
£
118,400
(5,007)
(14,522)
-
98,871|Incoming
resources
£
26,000
70,000
181,026
50,264
12,900
38,770
378,960
Incoming
resources
£
28,782
60,000
234,494
51,082
374,358|Resources
expensed
£
(36,187)
(70,000)
(182,837)
(60,774)
(12,900)
(38,770)
(401,468)
Resources
expensed
£
(136,995)
(54,993)
(219,711)
(40,572)
(452,271)|Transfer
£
-
-
1,550
-
-
-
1,550
Transfer
£
-
-
-
-|Balance at
31 July
£
-
-
-
-
-
-|
|---|---|---|---|---|---|
||||||-|
||||||Balance at
31 July
£
10,187
-
261
10,510|
||||||20,958|
**Wellcome Trust** – Funding to support public engagement.
– **Marketplace (BFI)** Funding from BFI to support Marketplace activity at the festival.
– **Alternate Realities Programme (ACE)** Funding from Arts Council England to support the Alternate Realities Programme.
**Creative Europe (Market)** – Funding to support MeetMarket, one of the world’s largest non -fiction and factual markets and pitching forums.
– **US Embassy** Funding from the US Embassy to enable an increased presence of US documentary filmmakers and the screening of new US documentary films.
– **British Council (Ukraine)** Funding to support a delegation of Ukrainian filmmakers and artists to visit Sheffield to present their documentary films.
24
**International Documentary Festival Sheffield**
## **Notes on accounts (continued)**
## **Year ended 31 July 2022**
|**21.**
**Unrestricted funds**
**Group**
Balance at beginning of period
Total incoming resources
Total outgoing resources
Transfers
Balance at 31 July|**Total**
£
61,148
1,140,382
(1,076,189)
(1,550)|
|---|---|
||123,791|
## **22. Reconciliation of consolidated net incoming resources to net cash inflow from operating activities**
|Net incoming resources
Income tax expense
Net outgoing resources from operations
Depreciation
(Increase) in debtors
Increase in creditors
Income tax paid
Net cash inflow from operating activities
**23.**
**Analysis of net debt**
1 August
2021
Cash flow
£
£
£
Cash at the bank and in hand
218,979
(156,747)
218,979
(156,747)|2022
Group
£
41,685
-
41,685
1,905
(406,867)
206,530
-
(156,747)
Other non-
cash
charges
£
-
-|2021
Group
£
132,117
-|
|---|---|---|
|||132,117
3,951
(34,620)
(14,024)
(19,912)|
|||67,512|
|||31 July 2022
£
62,232
62,232|
25
**International Documentary Festival Sheffield**
## **Notes on accounts (continued)**
## **Year ended 31 July 2022**
## **24. Transactions with related parties**
During the period, the charity made sales of £840 (2021: £1,404) to Renegade Pictures (UK) Limited, a company operated by Alexandra Cooke, a Trustee of the Charity. As at 31 July 2022 £Nil (2021: £Nil) was owed by Renegade Pictures (UK) Limited.
During the period, the charity made sales of £Nil (2021: £72) to True Vision Productions Limited, a company operated by Brian Edwards, a Trustee of the Charity. As at 31 July 2021 £Nil (2021: £Nil) was owed by True Vision Productions Limited.
During the period, the charity paid Derren Lawford, a Trustee of the Charity, a fee of £350 (£Nil) in relation to his capacity as a juror in the film selection process. As at 31 July 2022 £Nil (2021:£Nil) was owed to Derren Lawford
During the period, the charity made a gift to Alexandra Cooke, a Trustee of the Charity, of value £42 (2021: £Nil).
The financial results of Sheffield DocFest Limited as disclosed in note 12 of these financial statements.
There were no other related party transactions in the year.
26