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2022-10-31-accounts

Registered charity number: 1186403

CINEMAITALIAUK TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022

CinemaItaliaUK Trustees' Report and Financial Statements For The Year Ended 31 October 2022

Contents

Page
Charity Information 1
Trustees' Report 2—3
Independent Examiner's Report 4
Statement of Financial Activities 5
Balance Sheet 6
Notes to the Financial Statements 7—8
Detailed Statement of Financial Activities 9

CinemaItaliaUK Charity Information For The Year Ended 31 October 2022

Charity Number 1186403
Principal address Flat 1
8 Dennington Park Road
London
NW6 1BA
Trustees R Licurgo
C Caleo
L Pretolani
M Mazzotta
M C Zizolfi
Best Choice Chartered Accountants
Independent Examiners Office 30, Kingfisher House
21-23 Elmfield Road, Bromley
BR1 1LT

Page 1

CinemaItaliaUK Company No. 1186403 Trustees' Report For The Year Ended 31 October 2022

Trustees' Report For The Year Ended 31 October 2022

The trustees present their report and the financial statements for the year ended 31 October 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

Now in its fourth year as a CIO, CinemaItaliaUK has continued to promote Italian culture by bringing the best of its cinema to the UK, a mission it had since its founding in 2014 as a limited company. Its objective as a CIO is to advance the education of the public in the knowledge, understanding and appreciation of the arts, particularly the art of Italian film by the establishment and maintenance of a film society. Our dedicated team works to design and deliver a curated offer of screenings, festivals, and talks that go beyond the mainstream, spark insightful conversations, and encourage a rich and meaningful exchange between cultures. Whether it is the latest release, a classic's screening anniversary, or a Q&A with an Italian director, CinemaItaliaUK is likely to have programmed an event on it.

Significant activities

The end of 2021 saw a progressive reopening of arts and culture venues, including cinemas. CinemaItaliaUK resumed its regular monthly screenings November 2021, and gradually lapsed its presence online. Below a calendar of the screenings and events organised between November 2021 and October 2022.

CinemaItaliaUK monthly screenings:

Signori a Tavola, a screening series funded by the Italian Consulate in London part of the #vivere all’Italiana initiative

CinemaItaliaUK organised a curated retrospective of classic and contemporary Italian films celebrating food and conviviality. The programme this year included:

Donne di mafia (2022), a Mini Film Festival in partnership with the University of Bath

Donne di mafia launched in 2021 as part of a broader research project heralded by Dr Felia Alum (University of Bath) and funded by the Leverhulme Trust, with its first edition held online. The second edition Having a Voice took place at the Garden Cinema Holborn with two sold out screenings and Q&As buzzing with audience questions. The screenings on April 3rd, 2022 included:

...CONTINUED

Page 2

CinemaItaliaUK Trustees' Report (continued) For The Year Ended 31 October 2022

Trustees' report - continued

Other screenings and partnerships

Membership Scheme

Since its launch in March 2021, the membership programme Friends Of CinemaItaliaUK went from strength to strength. At the end of October 2021, there were 131 signups of which 17.5% were from outside of London. At the end of October 2022 there were 194 signups, many of which were renewals. More data will be available at the end of the next financial year thanks to switching from a manual to an automated signup system.

Public Benefit

CinemaItaliaUK's primary beneficiaries are the segment of cinema audiences that are interested in Italian films and culture, as well as in learning Italian as a second language and who live in the UK. All our screenings are in Italian with English subtitles. CinemaItaliaUK makes a point to show UK premieres or recently released films, making our events and connected activities a unique opportunity for all Italian film lovers to attend. Our ongoing partnerships with several cinemas and film organisations in London (CinemaItaliaUK is a member of the BFI FAN Network) and nationwide mean that we can expand our reach to different segments of cinema audiences. CinemaItaliaUK also has a longstanding history of collaborating with Italian governmental agencies to design and deliver cultural events connected to Italian film, namely the Consulate General of Italy in London and the Italian Embassy in the UK. Finally, CinemaItaliaUK has been building collaborations and sponsorships with several Italian commercial partners in London - among them the Italian Bookshop, London One Radio and Etna coffee.

We are satisfied that we undertake all of our work within our charitable objectives and the public benefit requirement as defined in Section 17 of the Charities Act 2011.

17th July 2023 Approved by order of the board of trustees on ............................................. and signed on its behalf by:

Luisa Pretolani

Luisa Pretolani (Jul 17, 2023 10:51 GMT+1)

L Pretolani -

Trustee

Page 3

CinemaItaliaUK Independent Examiner's Report For The Year Ended 31 October 2022

I report on the accounts of the Charity for the year ended 31 October 2022, which are set out on pages 5 to 9.

Respective responsibilities of trustees and examiner

  1. The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

  2. Having satisfied myself that an audit is not required, it is my responsibility to:

examine the accounts under section 145 of the 2011 Act;

to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act; and

to state whether particular matters have come to my attention.

Basis of independent examiner’s report

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.

Independent examiner’s statement

In connection with my examination, no matter has come to my attention:

  1. which gives me reasonable cause to believe that in any material respect the requirements:

to keep accounting records in accordance with section 130 of the 2011 Act; and

to prepare accounts which accord with the accounting records and comply with the accounting requirements ofthe 2011 Act, and with the methods and principles of the Statement of Recommended Practice: Accounting andReporting by Charities, have not been met; or

  1. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Signed

Shahzad Fayyaz , ACA

12/07/2023

Best Choice Chartered Accountants Office 30, Kingfisher House 21-23 Elmfield Road Bromley BR1 1LT

Page 4

CinemaItaliaUK Statement of Financial Activities For The Year Ended 31 October 2022

Notes
INCOME AND ENDOWMENTS
GROSS INCOME
Other trading activities
Support costs
Governance costs
NET INCOME		 2022
£
14,195
14,195
(4,699)
(7,694)
(810)
992		 2021
£
13,027
13,027
(3,315)
(5,668)
(810)
3,234

Please refer to detailed breakdowns on page 9.

Page 5

CinemaItaliaUK Balance Sheet As at 31 October 2022

Notes
3
4
CURRENT ASSETS
Debtors
Cash at bank and in hand
Creditors: Amounts Falling Due Within
One Year
NET CURRENT ASSETS (LIABILITIES)
TOTAL ASSETS LESS CURRENT
LIABILITIES
NET ASSETS
TOTALFUNDS
Restricted Funds
Funds
Unrestricted Funds
6		 2022
£
£
-
6,087
6,087
(810)
5,277
5,277
5,277
4,934
5,277
343		 2022
£
£
-
6,087
6,087
(810)
5,277
5,277
5,277
4,934
5,277
343		 2021
£
£
500
4,595
5,095
(810)
4,285
4,285
4,285
4,093
4,285
192		 2021
£
£
500
4,595
5,095
(810)
4,285
4,285
4,285
4,093
4,285
192
6,087
(810)		 5,095
(810)
5,277 4,285
5,277 4,285
4,934
343		 4,093
192
5,277 4,285

The financial statements were approved by the Board of Trustees and authorised for issue 17th July 2023

on ............................................. and were signed on its behalf by:

Luisa Pretolani

Luisa Pretolani (Jul 17, 2023 10:51 GMT+1)

L Pretolani - Trustee

Page 6

CinemaItaliaUK Notes to the Financial Statements For The Year Ended 31 October 2022

1. Accounting Policies

1.1. Basis of Preparation of Financial Statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.

1.2. Taxation

The charity is exempt from tax on its charitable activities.

1.3. Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. The restricted funds available at the year ended 31 October 2022 amounted to £353.

1.4. Income

All income is recognized in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

1.5. Expenditure

Liabilities are recognized as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

2. Staff Costs

The total staff costs and employee benefits for the reporting period was nil.

The charity does not employ any staff but the average number of trustees during the period were 5 (2021: 4).

3. Debtors

Due within one year
Other debtors
4.
Creditors: Amounts Falling Due Within One Year
Accruals		 2022
£
-
-
2022
£
810
810		 2021
£
500
500
2021
£
810
810

Page 7

CinemaItaliaUK Notes to the Financial Statements (continued) For The Year Ended 31 October 2022

5. Related Party Disclosures

There were no related party transactions for the year ended 31st October 2022.

6. Movement in funds

Unrestricted funds
Restricted funds		 31 October
2022
£
343
5,277
4,934		 31 October
2021
£
192
4,093
4,285

Net movement in funds, included in the above are as follows:

Unrestricted funds
Restricted funds
TOTAL FUNDS		 Incoming
resources
£
1,222
14,195
12,973		 Resources
expended
£
1,071
(13,203)
12,132		 Movement
in funds
£
151
841
992

7. Trustees' Remuneration and Benefits

During the year, the trustee Maria Carla Zizolfi was paid a remuneration of £2,219 to look after the charity's admin and Clara Caleo Green was paid a remuneration of £537 for Project Management.

Trustees' expenses

During the year, the trustees Clara Caleo Green and Luisa Pretolani were reimbursed expenses of £147 & £154 respectively for various petty cash expenses related to charity's activities.

Page 8

CinemaItaliaUK Detailed Statement of Financial Activities For The Year Ended 31 October 2022

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Other trading activities
Ticket sales
Friend Of
Investment income
Deposit account interest
Charitable activities
Film Festival
GROSS FUNDS
Other trading activities
Film screening costs
Event refreshments
Support costs
Computer and IT consumables
Advertising and marketing costs
Traveling
Programmer's fees
Assistant to the Director's fees
Sundry expenses
Governance Costs
Accountancy and Legal Fee
NET INCOME		 Unrestricted
Funds £
7,326
4,324
1,323
-
-
12,973
12,973
2,699
1,649
(4,348)
861
1,908
368
150
3,522
165
(6,974)
810
(810)
841		 Restricted
Funds £
-
-
-
-
1,222
1,222
1,222
120
231
(351)
180
190
-
350
-
(720)
-
-
151
-		 31 October
2022
Total£
7,326
4,324
1,323
-
1,222
14,195
14,195
2,819
1,880
(4,699)
1,041
2,098
368
150
3,872
165
(7,694)
810
(810)
992		 31 October
2021
Total £
4,053
1,461
3,868
-
3,645
13,027
13,027
3,141
174
(3,315)
1,611
795
694
200
2,319
49
(5,668)
810
(810)
3,234

Page 9