Charity registration number: 1184849
International Documentary Festival Sheffield
Consolidated Annual Report
Year Ended 31 July 2023
## International Documentary Festival Sheffield
## Consolidated Annual Report
## Year Ended 31 July 2023
## Contents
||Page|
|---|---|
|Trustees’ report|1–7|
|Independent auditors’ report|8–10|
|Consolidated Statement of Financial Activities|11|
|Statement of Financial Activities|12|
|Consolidated Balance Sheet|13|
|Consolidated Cash Flow Statement|14|
|Notes to the financial statements|15 - 26|
## International Documentary Festival Sheffield
## Report of the Trustees for the year ended 31 July 2023
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
|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)|
||S Bowen|(Appointed 22 March 2023)|
||J Clinton-Davis|(24 Resigned 24 January 2024)|
||B Edwards||
||G Gold||
||D Gordon||
||F Khan||
||J Kimber||
||D Lawford||
||L McDowell|(Appointed 22 March 2023)|
||S Mirzoeff||
||Z Mumba|(Appointed 22 March 2023)|
||B Patel||
||S Sabaratnam|(Resigned 16 November 2022)|
||H Scott||
|Observers:|D Buckley|(Sheffield City Council)|
||S Cook|(Resigned 25 January 2023)|
|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 2023 (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.
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.
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. In January 2024, Jo Clinton Davis resigned after two terms of three years.
2023 Board of Trustees demographic representation showed that 64% of trustees are female, 21% identify as LGBTQIA+, 21% disclosed a disability that affects their day to day life, and 50% of trustees identify as of diverse ethnic origin.
## 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 May 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.
2
## International Documentary Festival Sheffield
## Report of the Trustees for the period ended 31 July 2023 (continued)
## Objectives and activities for the public benefit (continued)
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.
In addition to the production of the annual festival, we present documentary film screenings, digital art exhibitions and talks, both locally and nationally, year round, in order to reach new audiences and to maintain our relationship with existing audiences.
In 2023 we received funding from the Bertha Foundation to partner with Bertha DocHouse Cinema, London to expand our monthly DocNights programme from Sheffield to London. We present monthly screenings of past works from the festival, making available films that lack wide distribution and adding engagement activity (introductions, Q&As) and access support including BSL interpretation for the majority of screenings.
In 2023 we received funding to support stand-alone training and mentoring programme Future Producer School which provided residential training and industry networking and mentoring to emerging documentary film producers from the UK; we also received support to deliver the second iteration of our Filmmaker Challenge providing support and mentoring to six emerging UK non-fiction directors to create micro-budget films over the course of the festival, supported by an award winning filmmaker mentor.
## Activities during the period to 31 July 2023
In June 2023 we presented a predominantly in-person festival over six days: 14-19 June. 122 films were presented at public film screenings, further talks and exhibitions took place in cinemas and gallery spaces, reaching more than 37,800 in-person audiences and 4,724 online views of festival films. More than 450 volunteers supported the festival to deliver its full range of activities: live events, film screenings, talks, immersive art exhibition, industry meetings, industry roundtables and networking events.
## Leadership
Following the appointment of Annabel Grundy as Managing Director in December 2022 and her full-time commencement in January 2023, the co-leadership model for the festival was further solidified with the confirmation of Raul Nino Zambrano as Creative Director (previously Acting Creative Director) in June 2023.
As co-leaders Raul and Annabel are responsible for the delivery of all charitable activity with Raul leading on public programme initiatives and Annabel responsible for financial management, organisational strategy, compliance and governance. A three-year plan for the charity was presented to Trustees and key stakeholders at the end of 2023, which includes strategies to grow year-round activity and strengthen international partnerships.
3
International Documentary Festival Sheffield
## Report of the Trustees for the period ended 31 July 2023 (continued)
## Achievements and performance
## Sheffield DocFest 2023
Our 2023 festival was presented with the tag line Sparking Curiosity and a refreshed visual identity incorporating bright and fun visual elements to convey a feeling of energy and openness.
The festival grew its overall admissions (in person and online) by 40% with in-person only rising by 48%. We also grew our UK-wide audiences from 35% outside of South Yorkshire to 40% outside the region. From survey responses, 95% of our pubic audiences are likely to return and 89% of them had a very good or excellent time at the 2023 edition.
## Film Programme
- 122 documentaries were shown, from 52 countries with 43 spoken languages represented.
- The ‘official selection’ included 38 World Premieres, 19 International Premieres, 10 European Premieres. All films barring retrospectives are minimum UK premiere.
- We presented three special programmes including archive compilations and retrospectives, focusing on the work of Guest of Honour, Rakhshan Banietemad, the work of Iranian filmmakers and a retrospective of films from Sheffield Women’s Coop, a filmmaking collective spanning the 1970s and 1980s.
## Arts Programme
- Our Alternate Realities presented 18 works at Site Gallery in Sheffield and reached 6,020 in-person audiences over the course of the festival and an extension of a condensed version of the exhibition into mid-July.
- The exhibition comprised works across VR, Full-dome, immersive and gaming formats and included an AI driven piece that presented a unique experience on every viewing.
- The Alternate Realities talent programmes provided tailored opportunities for new UK immersive artists to gather and meet with potential collaborators and supporters.
- The Alternate Realities Summit conference achieved 28% growth in attendance, bringing together more than 130 professional artists and makers, commissioners, funders and exhibitors to discuss key issues in the sector.
## Community programme
- For our 30th edition we committed to engaging with at least 30 local community groups to offer free community tickets to our programmes; this included welcoming more than 100 community group members to our opening night film, Tish, a celebration of the SOuth Shield born photographer who documented Northern working class communities in the 1970s and 1980s.
- We also introduced a new trust based concession ticket: Docs For All offering any audience member a concession priced ticket o request and without requirement of proof of eligibility.
- We partnered with Sheffield based festival Migration matters whose programming celebrates and uplifts refugee experiences, co-presenting both the film Sara Mardini - Long Distance Swimmer and a guest talk by satirist Munya Chawawa.
- 2023 also saw the establishment of the festival’s Local advisory Group, a group of six residents drawn from across South Yorkshire to experience and advise us on the festival in 2023 and 2024. This group comprises lived experience across ageing, South Yorkshire, migrant and LGBTQIA+ experience.
- We presented 4 community workshops & meetups: A closed workshop exclusively for QTIPOC (Queer, Trans, and Intersex People of Color), exploringsurveillance culture and its impact on diasporic communities prior to the screening of Dalton’s Dream; aCreative Collaging: Health, Contraceptives, and Bodily Autonomy workshop, inspired by the film hormonal; A ‘walkshop’ Between Earth and Sky following the short films compilation screening Dreaming Trees, inviting discussion with Between Earth & Sky, director Andrew Nadkarni, followed by a creative writing exercise exploring curiosity and healing through nature; an inclusive BSL dance workshop, combining poetry and movement and led by choreographer Rachel Clarke.
- Finally, we held three industry networking events addressing specific communities: a female, non-binary and trans meet up for immersive and digital artists, a closed networking event for filmmakers of colour and a networking session for Deaf and disabled filmmakers in the festival marketplace.
4
## International Documentary Festival Sheffield
## Report of the Trustees for the period ended 31 July 2023 (continued)
## Achievements and performance (continued)
## Talks & Sessions Programme
- More than 160 industry professionals spoke at our programme of 49 talks and sessions addressing topics such as the good the bad and the ugly truths behind documentary producing, to how to make productions more accessible on set and at distribution stage, and hosted the launch of a new UK body: The Documentary Film Council for its inaugural AGM and roundtable sessions.
- Four pitch events took place with UK Broadcasters and funders, awarding commissions and funding to new talent: The Whickers Development pitch, awarding early stage funding to a first time director, the BBC Storyville Development pitch offering seed funding and feedback for UK projects, the Channel 4 First Cut Pitch offering a 60 minute C4 commission + mentoring and the inaugural Podcast Pitch, awarding funds to newnon-fiction narrative audio projects (UK and international).
## Industry Programme
- 48 pitching teams took over 990 match-made, largely in-person, meetings with industry representatives from around the world including the US, Nordics and Europe alongside UK buyers, sellers, funds and co-producers.
- A total 79 new ‘talents’ were supported to attend and engage with the festival through talent initiatives: Filmmaker Challenge, Amplify Broadcast Talent, Alternate Realities Talent Meetings and the Banijay bursary programme.
- We welcomed international filmmaker delegations from Chile, Brazil, Scotland, Wales and Northern Ireland.
## Audience Reach and Accessibility
We monitor both our industry and public audiences to ensure we are open and accessible to a wide range of people, and to identify areas for improvement.
In 2023 we also committed to ensuring all films presented in the Crucible Theatre were captioned and/or BSL interpreted, and presented more than 59% of films in the programme with English subtitles.
Public audiences
- 56% female
- 32% LGBTQIA+
- 16% ethnic background that is not white
- 11% disability
- 10% disadvantaged
## Industry audiences
- 57% female
- 24% LGBTQIA+
- 28% ethnic background not white
- ● 12% disabled
- 22% disadvantaged background
## Use of Volunteers
No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102).
## 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 2023 festival and some limited year-round delivery up to 31 July 2023.
The group’s Statement of Financial Activities shows a surplus for the period of £13,953 with total funds of £137,744 carried forward.
5
## International Documentary Festival Sheffield
## Report of the Trustees for the period ended 31 July 2023 (continued)
## Financial Review (continued)
## Reserves
The charity holds unrestricted reserves. At the period end, the balance of unrestricted funds is £137,744 (prior period end £123,791). No restricted reserves are held at the end of July 2023 however £13,250 of the carried forward surplus for 2023 is for defined activity: delivery of year round screenings with Bertha DocHouse in 2024. 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 seven years to three months’ averaged operating costs, to cover potential short term fluctuations in funding levels, other business risks and working capital requirements.
This figure is based on modelling undertaken by the MD and reviewed by trustees in January 2024.
## 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. Although commercial sponsorship reduced from 2022 levels in 2023, we raised £76,947 from 14 new sponsors and achieved an increase from returning key Broadcaster supporters.
In 2023 we were successful in securing two-years of support from BFI for our Audience facing activity in 2023 and 2024, and secured a three-year funding agreement with Sheffield City Council to contribute toward core costs in 2024-26. The festival also secured £83,017 project funding from Arts Council England to support its immersive public arts programme and for 2024 have been successful in securing £92,000 towards this programme.
Earned income for 2023 increased by 20% through a combination of significantly increased delegate pass sales and more marginal increases in ticket sales and submissions. The growth of pass sales signals renewed confidence in the festival as an in-person event post-pandemic.
In 2022 the charity secured a loan of £150,000 (+£4,500 arrangement fee) to assist with short term liquidity which is now in capital repayment 2024 through to 2026 with £127,241 outstanding at the date of this report.
Another risk area is competition from other UK and international festivals, with whom Sheffield DocFest may compete for films, audiences and/or funding. A competitor analysis of key film festivals was completed as part of planning in 2023, to gauge risks and difference in festival profile, footprint and audience impacts across different events. We continue to monitor indicators such as audiences and submissions, which both increased from 2022 to 2023.
The risk of COVID or unforeseen disruption remains on the organisational risk register and is mitigated by force majeure clauses in all partnership and sponsorship agreements.
6
## International Documentary Festival Sheffield
## Report of the Trustees for the period ended 31 July 2023 (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 charity’s auditors in connection with preparing their report) of which the charity’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 charity’s auditors are aware of that information.
On behalf of the Trustees,
………………………………….. A Cooke
23/05/2024
…………………………………..
7
## 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 year ended 31 July 2023 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 2023, and of its incoming resources and application of resources, for the year 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 that 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.
8
## 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 7, 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 Trustees 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.
9
## 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 Trustees 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
## Date: ………………………… 23 May 2024
Hawsons Chartered Accountants is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.
10
International Documentary Festival Sheffield
## Consolidated Statement of Financial Activities
## Year Ended 31 July 2023
|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 resources
Net movement in funds
Funds brought forward
Funds carried forward|Unrestricted
Funds
£
351,358
457,660
383,748
1,192,766
10,000
1,158,813
10,000
1,178,813
13,953
13,953
123,791
137,744|Restricted
Funds
£
220,860
-
-
220,860
-
220,860
-
220,860
-
-
-
-|31 July
2023
Total
£
572,218
457,660
383,748
1,413,626
10,000
1,379,673
10,000
1,399,673
13,953
13,953
123,791
137,744|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|
11
International Documentary Festival Sheffield
## Statement of Financial Activities
## Year Ended 31 July 2023
|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 resources
Net movement in funds
Funds brought forward
Funds carried forward|Unrestricted
Funds
£
351,358
456,500
383,748
1,191,606
10,000
1,156,760
10,000
1,176,760
14,846
14,846
124,858
139,704|Restricted
Funds
£
220,860
-
-
220,860
-
220,860
-
220,860
-
-
-
-|31 July
2023
Total
£
572,218
456,500
383,748
1,412,466
10,000
1,377,620
10,000
1,397,620
14,846
14,846
124,858
139,704|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|
12
## International Documentary Festival Sheffield
## Balance Sheets
## 31 July 2023
|1 July 2023||||
|---|---|---|---|
|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
CREDITORS –amounts
18
falling due after
one year
NET ASSETS
CHARITY FUNDS
Unrestricted funds
21
Restricted funds
20
TOTAL CHARITY FUNDS|31 July
2023
Group
Charity
£
£
232
232
-
10
232
242
145,894
140,063
482,462
482,462
628,356
622,525
(386,761)
(378,980)
241,595
243,545
241,827
243,787
(104,083)
(104,083)
137,744
139,704
137,744
139,704
-
-
137,744
139,704|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||
||||763|
||||542,621
62,232|
||||604,853
(480,758)|
||||124,095|
||||124,858
-|
||||124,858|
||||124,858
-|
||||124,858|
23/05/2024 The financial statements were approved by the board of trustees on ……………………………. and signed on its behalf by:
……………………………………..
A Cooke – Trustee
13
## International Documentary Festival Sheffield
## Consolidated Cash Flow Statement
## Year ended 31 July 2023
|Notes
Cash flow from operating activities
22
Cash flow from investing activities
Payments to acquire tangible fixed assets
Net cash flow from investing activities
Cash flow from financing activities
Cash inflows from new borrowing
Net cash flow from financing activities
Net increase / (decrease) 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|2023
£
265,955
(225)
(225)
154,500
154,500
420,230
62,232
482,462
482,462
-
482,462|2022
£
(156,747)
-|
|---|---|---|
|||-|
|||-|
|||-|
|||(156,747)
218,979|
|||62,232|
|||62,232
-|
|||62,232|
14
International Documentary Festival Sheffield
## Notes on accounts
## Year ended 31 July 2023
## 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 Fixtures, fittings and equipment
Depreciation method and rate 10-33% straight line
15
International Documentary Festival Sheffield
## Notes on accounts (continued)
## Year ended 31 July 2023
## 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.
16
## International Documentary Festival Sheffield
## Notes on accounts (continued)
## Year ended 31 July 2023
|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
Film in Limerick
BFI
BBC
Channel 4
University of Sheffield
Whicker's World Foundation
Site Gallery
General donation income
Universal Pictures
The Bertha Foundation
Total unrestricted
3.
Income from charitable activities
Ticket sales
Film submissions
Delegate income
4.
Other income
Activities for generating funds
Sponsorship
Other income
Management charge|2023
Group
£
100,860
78,000
-
-
42,000
-
-
220,860
101,500
-
220,000
-
-
-
3,539
4,500
(18,181)
-
40,000
351,358
2023
Group
£
53,046
90,547
240,155
383,748
2023
Group
£
457,660
-|2023
Charity
£
100,860
78,000
-
-
42,000
-
-
220,860
101,500
-
220,000
-
-
-
3,539
4,500
(18,181)
-
40,000
351,358
2023
Charity
£
53,046
90,547
240,155
383,748
2023
Charity
£
-
456,500|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
2022
Group
£
46,958
73,111
188,595
308,664
2022
Group
£
428,130
-|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|
|||||2022
Charity
£
46,958
73,111
188,595
308,664
2022
Charity
£
-
427,000|
17
## International Documentary Festival Sheffield
## Notes on accounts (continued)
## Year ended 31 July 2023
|5.
Net outgoing resources
This is stated after charging
Depreciation|2023
Group
£
746|2023
Charity
£
746|2022
2022
Group
Charity
£
£
1,905
1,905|
|---|---|---|---|
## 6. Auditor’s remuneration
The auditor’s remuneration amounts to a fee of £8,950 (2022: £6,500) and £6,000 (2022: £6,150) in respect of other services.
## 7. Cost of generating voluntary income
|7.
Cost of generating voluntary income|||||
|---|---|---|---|---|
|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|2023
Group
£
10,000
2023
Group
£
346,218
383,286
189,697
83,583
13,298
57,324
18,225
73,109
127,381
1,292,121
87,552
1,379,673|2023
Charity
£
10,000
2023
Charity
£
346,218
383,286
189,697
83,583
13,298
57,324
18,225
71,109
127,381
1,290,121
87,499
1,377,620|2022
Group
£
10,000
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|2022
Charity
£
10,000|
|||||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|
18
## International Documentary Festival Sheffield
## Notes on accounts (continued)
## Year ended 31 July 2023
|9.
Other costs
Support costs (note 10)
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|2023
Group
£
10,000
2023
Group
£
35,364
4,810
8,446
-
1,951
774
847
1,024
17,700
18,187
2,868
746
14,245
590
107,552|2023
Charity
£
10,000
2023
Charity
£
35,364
4,810
8,446
-
1,951
774
794
1,024
17,700
18,187
2,868
746
14,245
590
107,499|2022
Group
£
10,000
2022
Group
£
33,678
3,819
7,668
-
1,912
286
854
960
7,050
12,129
1,520
1,904
11,228
493
83,501|2022
Charity
£
10,000|
|---|---|---|---|---|
|||||2022
Charity
£
33,678
3,819
7,668
-
1,912
286
854
960
7,050
12,129
1,520
1,904
11,228
493|
|||||83,501|
||10,000
87,552
10,000
107,552|10,000
87,499
10,000
107,499|10,000
63,501
10,000
83,501|10,000
63,501
10,000|
|||||83,501|
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|2023
Group
£
682,814
37,681
9,009
729,504|2023
Charity
£
682,814
37,681
9,009
729,504|2022
Group
£
745,025
40,971
9,235
795,231|2022
Charity
£
745,025
40,971
9,235|
|||||795,231|
The average number of employees during the period was 14 (2022: 13).
19
## International Documentary Festival Sheffield
## Notes on accounts (continued)
## Year ended 31 July 2023
## 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:
|
contributions were as shown below:|||
|---|---|---|
||2023|2022|
|£60,000 - £69,999|1|1|
|£120,000 - £129,999|1|0|
The Trustees neither received nor waived any remuneration during the period. Two trustees (2022: two) had expenses reimbursed during the period totalling £1,527 (2022: £488) in relation to training courses, travel and subsistence.
The total amount of employee benefits received by key management personnel is £389,594 (2022: £279,117). 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.
Pension costs are allocated between activities and between restricted and unrestricted funds on the basis of staff time.
Managing Director Interim CEO Acting Creative Director Director of Partnerships and Community Director of partnerships and development Head of Operations and Production Head of HR and participation Finance manager
## 12. Fundraising trading from trading activities of subsidiary
The charity has 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:
|A summary of their trading results is shown below:||
|---|---|
|Turnover
Administrative expenses
Loss on ordinary activities before taxation
Net loss for the year retained|£
457,660
(458,553)
(893)|
||(893)|
|13.
Analysis of net assets between funds
2023 - Group
Tangible fixed assets
Current assets
Current liabilities
Non-current liabilities|Unrestricted
232
628,356
(386,761)
(104,083)
137,744|Restricted
-
-
-
-
-|Total
£
232
628,356
(386,761)
(104,083)
137,744|
|---|---|---|---|
20
International Documentary Festival Sheffield
## Notes on accounts (continued)
## Year ended 31 July 2023
|13.
Analysis of net assets between funds (continued)
2023–Charity
Unrestricted
Tangible fixed assets
242
Current assets
622,525
Current liabilities
(378,980)
Non-current liabilities
(104,083)
139,704
2022–Group
Unrestricted
Tangible fixed assets
753
Current assets
633,796
Current liabilities
(510,758)
123,791
2022–Charity
Unrestricted
Tangible fixed assets
763
Current assets
604,853
Current liabilities
(480,758)
124,858
14.
Financial commitments
2023
Group
Charity
As at 31 July the annual
commitments under non-cancellable
operating leases were as follows:-
£
£
Due within 1 year
21,004
21,004
Due within 1 to 2 years
-
-
21,004
21,004|13.
Analysis of net assets between funds (continued)
2023–Charity
Unrestricted
Tangible fixed assets
242
Current assets
622,525
Current liabilities
(378,980)
Non-current liabilities
(104,083)
139,704
2022–Group
Unrestricted
Tangible fixed assets
753
Current assets
633,796
Current liabilities
(510,758)
123,791
2022–Charity
Unrestricted
Tangible fixed assets
763
Current assets
604,853
Current liabilities
(480,758)
124,858
14.
Financial commitments
2023
Group
Charity
As at 31 July the annual
commitments under non-cancellable
operating leases were as follows:-
£
£
Due within 1 year
21,004
21,004
Due within 1 to 2 years
-
-
21,004
21,004||Restricted
Total
£
-
242
-
622,525
-
(378,980)
-
(104,083)
-
139,704
Restricted
Total
£
-
753
-
633,796
-
(510,758)
-
123,791
Restricted
Total
£
-
763
-
604,853
-
(480,758)
-
124,858
2022
Group
Charity
£
£
18,701
18,701
1,750
1,750
20,451
20,451|Total
£
242
622,525
(378,980)
(104,083)
139,704
Total
£
753
633,796
(510,758)|
|---|---|---|---|---|
|||||123,791|
||||||
||21,004||||
Lease expenses totalling £18,701 (2022: £20,151) 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 2023
|15.
Tangible fixed assets
Group and charity
Cost
At 1 August 2022
Additions
At 31 July 2023
Depreciation
At 1 August 2022
Charge for the period
At 31 July 2023
Net book value
At 31 July 2023
At 1 August 2022|Fixtures
Fittings &
equipment
£
10,805
225
11,030
10,052
746
10,798
232
753|Total
£
10,805
225|
|---|---|---|
|||11,030|
|||10,052
746|
|||10,798|
|||232|
|||753|
## 16. Investment in subsidiary undertakings
## Cost of shares in subsidiary undertaking
At 1 August 2022 and at 31 July 2023
£ 10
The subsidiary of the charity at 31 July 2023 (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|(1,950)|(893)|
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 2023
|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
Bank loan
Amounts falling due after one year
Bank loan
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|2023
£
Group
15,503
-
2,033
128,358
145,894
2023
£
Group
188,943
6,704
48,918
91,779
-
50,417
386,761
104,083
104,083
2023
£
Group
50,720
14,460
(17,720)
47,460|2023
£
Charity
10,672
-
1,033
128,358
140,063
2023
£
Charity
188,943
6,704
48,918
69,029
14,969
50,417
378,980
104,083
104,083
2023
£
Charity
20,720
6,710
(2,720)
24,710|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|
The above income has been deferred in relation to the 2024 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 2023
## 20. Restricted funds
|2023
Restricted income funds
Marketplace (BFI)
Alternate Realities
Programme (ACE)
British Council (Ukraine)
2022
Restricted income funds
Wellcome Trust
Marketplace (BFI)
Alternate Realities
Programme (ACE)
Creative Europe (Market)
US Embassy
British Council (Ukraine)|Balance at
beginning
of period
£
-
-
-
-
Balance at
beginning
of period
£
10,187
-
261
10,510
-
-
20,958|Incoming
resources
£
78,000
100,860
42,000
220,860
Incoming
resources
£
26,000
70,000
181,026
50,264
12,900
38,770
378,960|Resources
expensed
£
(78,000)
(100,860)
(42,000)
(220,860)
Resources
expensed
£
(36,187)
(70,000)
(182,837)
(60,774)
(12,900)
(38,770)
(401,468)|Transfer
£
-
-
-
-
Transfer
£
-
-
1,550
-
-
-
1,550|Balance at
31 July
£
-
-
-|
|---|---|---|---|---|---|
||||||-|
||||||Balance at
31 July
£
-
-
-
-
-
-|
||||||-|
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 2023
## 21. Unrestricted funds
|General unrestricted funds
Designated funds
Bertha DocHouse|Balance at
beginning
of period
£
123,791
-
123,791|Incoming
resources
£
1,179,516
13,250
1,192,766|Resources
expensed
£
(1,178,813)
-
(1,178,813)|Transfer
£
-
-
-|Balance at
31 July
£
124,494
13,250|
|---|---|---|---|---|---|
||||||137,744|
## 22. Reconciliation of consolidated net incoming resources to net cash inflow from operating activities
|Net incoming resources
Income tax expense
Net incoming resources from operations
Depreciation
Decrease/(increase) in debtors
(Decrease)/increase in creditors
Income tax paid
Net cash inflow from operating activities
23.
Analysis of net debt
1 August
2022
Cash flow
£
£
£
Cash at the bank and in hand
62,232
420,230
Debts falling due within one year
-
(50,417)
Debts falling due after one year
-
(104,083)
62,232
265,730|2023
Group
£
13,953
-
13,953
746
425,670
(174,414)
-
265,955
Other non-
cash
charges
£
-
-
-
-|2022
Group
£
41,685
-|
|---|---|---|
|||41,685
1,905
(406,867)
206,530
-|
|||(156,747)|
|||31 July 2023
£
482,462
(50,417)
(104,083)
327,962|
25
## International Documentary Festival Sheffield
## Notes on accounts (continued)
## Year ended 31 July 2023
## 24. Transactions with related parties
During the period, the charity made sales of £Nil (2022: £840) to Renegade Pictures (UK) Limited, a company operated by Alexandra Cooke, a Trustee of the Charity. As at 31 July 2023 £Nil (2022: £Nil) was owed by Renegade Pictures (UK) Limited.
During the period, the charity made sales of £1,728 (2022: £Nil) to True Vision Productions Limited, a company operated by Brian Edwards, a Trustee of the Charity. As at 31 July 2023 £Nil (2022: £Nil) was owed by True Vision Productions Limited.
During the period, the charity paid Derren Lawford, a Trustee of the Charity, a fee of £Nil (2022: £350) in relation to his capacity as a juror in the film selection process. As at 31 July 2023 £Nil (2022:£Nil) was owed to Derren Lawford
During the period, the charity made a gift to Alexandra Cooke, a Trustee of the Charity, of value £Nil (2022: £42).
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