COMPANY REGISTRATION NUMBER 00269085 REGISTERED CHARJTY NUNIBER. 260467 INSTITufE OF AMATEUR CINEMATOGRAPHERS(THE) (A COMPANY LIMITED BY GUARANTEE) FINANCIAL STATEMENTS 30 APRIL 2021 BELL TINDLE WILLIAMSON LLP Chartered Accountants and Registered Auditors The Old P(Y&t Office 63 Saville Street North Shields Tyne & Wear NE30 IAY A4L4L2N76 27101rd022 COMPANIES HOUSE A15
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INSTITUTE OF AMATEUR CINEMATOGRAPHERS A COMPANY LIMITED BY GUARANTEE FOR THE YEAR ENDED 30 APRIL 2021 CONTENrs Pa Rqrt ofthe Tre¢S Independ¢Tht Examinerfs Rep)rt its the TnCeS Statement of Financial Activities 12 Balance Sheet 13 Notes to rhe Fina78] Slatettthts
Pag¢ I INSTITtrrE OF AMATEUR CINEMATOGRAPHERS A COMPANY LIMITED BY GUAIL4NTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRJL 2021 The tru5tecs ar¢ pleased to pre5¢nt their annual report togdhcr with the financhal statem¢nts of the cknty for the year ended 30 April 2021 which are alw preparuj to requiTtments for a directois, Teport and fitwKial statements for Companies Act puryeS. The financial thtemenis wTr)ply with ihe Cbariti4s A¢i 2011, Ihe Companies Ad 2006, the MemoraThJum and Arti¢les of A550ciation. and Accounting and ReportiTh8 by Charities: Statement of Recommended Pra¢tic¢ applicable lo charitie5 prepaJing their accounts in xcordance with thc Financial Rq)ortin8 Standard applicable in ihc UK and iiepublic of Ireland (FRS 102) (effective l January 2015). Our Pur ses A£tiitie5 PHrywse5 4ndAims The Charitys object and its principal activity continues to be that of the promotion. advancemeni and irnprovemenl of generdl education in relation to all aws of cinematography and &ssoci&ed audio and visual arts and the development of publi¢ appreciation of ch art5. Our WWkD¢l1r O¥rAi We rrvs¢w.our aim4 objcclives and activilics cach yw. This review looks at what we have achievcd and the lComeS of ollr work irt the previous 12 months. The review looks at the su¢ccs5 of key actiity and the benefits that they have brought ¢0 those groups of p¢opl¢ w¢ are w up to h¢lp. The rtview al50 hclps us to ertsure that di objeclive5 and activities have remained focused on our stated purposcs. We have referred to guidance conthined in the Charity Commissions geneTa] guidanc¢ on public benefit when reviewing our aims and objeciives and in p[ar1ft8 our fvture activities. ITh particular, the tnjsttts consid¢T how P[ared aciiviLi¢S will contribute to the aims aTwJ ¢Jjttiives thry have sa. Th¢ Fo¢u$ olour Iyork Our main objectives for the year continued to be the promotion, vanCe1rt and improvernet of Bera[ education in relation to a]1 aspects of ¢in¢matography and as%)ciated audio and visual arts. The strategies us•1 io mect these objettives includtsj.. Running the British Internation AmateuT Film Festirdl and othu evctrts durig the ycar. Publishing the Film and Video Maker magazinc. Having a fully workable w¢bsiLe which rnurtbews artd the getwal publi¢ can 5$. Holding an IAC cowetiiion each year. Receivirtg wbscriwions from members and affiliated xKieties. Arch]"virtg m¢mbers fjlms of interest.
Page 2 INSTITUTE OF AMATEUR CINEMATOGRAPHERS A COMPANY LIIKITED BY GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APIUL 2021 Hoy4 Our Aetiviti Deliver Public BenefAt Our matn activities and who we try lo help are described bcl¢)w. Ail our chariiable objectives focus on promoting cinemaiography and the public's opwlatIon of such aJts_ lho Uscd4ndBenefvedfrom Owservites? Th¢ ¢harity encournges and supports aw< from bw'rnKr to pert. WIK) mak¢ films and AV sequ¢n¢¢s. It provides new51etters and forun5 to allow people to engage and share idea& More infonnation about the Servi offered by the charity may be a¢¢e&sed on the website at www.lhelac.oUk. Achievements and PerformaDce The COVtD-19 pandemi¢ coniinugJ to affect IAC business as U1. resuliing in tlkree national events being ht0 oThliTh¢. Th¢ 2020 AGM was Iwd on Zoom on Satwday l(kh 0¢ber 2020, followed by Members, Voices. Sixty-five mernbers join¢d lh¢ mwiTh& and despile the Ios5 of ihe phym.cal ¢ven( ti w&s wc¢¢ssfvI. Member's Voices was w¢ll supported BtAFF 2020 was hosttd on ZcM)m from 16th - 18Lh Ocrober 2020. Or8artised to mirror a conventional BIAFF, the opening evening fearured the Peter Coles AV. Competition Winners. Show. On the Saturday, four, all-day irtual inemas were hosted showing many of the films cntcred irbio the competition. Sunday featured the Award Winners $how, SCTeening the very best films. including the tAC Diarnond and category award WEthers. Over I4 meeting joins were logged throughout the weekend thai was well te¢eived by anendees. BIAFF 2021 was again hosted on Zwm from.16th- 18ih April 2021. A conventional formal was followed again, ryth the event spar1ng three days and comprising the AV Wjnner. Show, Saturday Cinemas and thc Sut2day Awyrd Winners, Show. Owing to the reduced number of cntries this Yr, Saturday Cinernas were reduced in number from four io two. Attendees wtte gjrveyd after the eveDt and feedlM¢k overwhelmingly positive. It js anticipated that the 2021 AGM will be holled online again" the ease of access of the onlit)e event allowed the 2020 AGM to be beller attended than any recent ph]eal AGM owing io the ability for rneMt to attend attd contribute frorn anywhere in the world. It Is hoped that BLAFF 2022 will be both a physical and online evcnt. Government rtrictiOnS permittin& we hope to return to the Cres¢¢n¢ Theatre in BiTmingham whil# r#aining the online even¢. It is hoped that this forniat will suil everyone.. those for whom disranc¢ is a barrier to ph11 aLtendaJK and Lhose who crave the &)joyment tha¢ a physical festival Wdthering bring& Accommodotion t)eaJs have been scaled back ¢0 betttt suit an Cpj smaller physi¢•l attendance. aThd future plans whll dcpend upon take-up. Our IAC Magazine, Film and Video Maker continucs to be well 5UPPQrted. Regular ferylback from members continues to be p05ttive, with contributors old and new provtdtng intcresting attd varioj articlcs. Mik¢ whan a5 Editor and John Jor5 dGsi8ner and compiler continue to take rhe credit forthi5 hiBhquality publiciot). Metnbership continu&% to decline sl¢)w]y &5 averdge membership age increk We mu$1 continue to support our membeT5 by supporting individua]& Clubs and regions with training supwrt and with new ways to encourdge filmmaking at all ability levels.
Pag¢ 3 INSTITUTE OF AMATEiIR CINEMATOGRAPHEILS A COMPANY LIMITED BY GUAIL4NTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2021 HE AndP alway5, thar&s are due to thc voluntcews that makc our hobby so cttjoyable. From &SrOots club rnembers aThJ organising ¢OTrmittees and regional volunieers. to the IAC Council itself, succe55ful. enjoyable amateur fllmmaknng relies heavily on the contributions of many individuals. Particular thatLk5 go to those Council membLYs who retired at or before our last AGM.. we owe a debt of glatide to Ivor Rose and John Gibbs for their seTVittS to ihe IAC. Our be wishes to them and to everyone. Fititteil R. The StateMet of Financial Adivities shows a surplus of £1 1.470 for the year (2020 £2,353) before un]raiised investment profit of £2,428. Total re5crve5 are £205,310 (2020 - £191,412). Reserves of £30,000 (2020- £30,000) are earniaTked for hosting the UNICA World Arntr Film FeiVal in the UK. A fijrther designated reserve of £4,223 (2020 - £4.2231 15 held as a result of futmls rcceived from EARIAC. Cash aDd lnvtsl]rnls (including and fixed deposit aecounts) art £168.389 {2020- £156.148}. The Charity continurs to cxcrcise strict financial controls ovcr its Costs. and 10 crLsurc value for morty. No diwdend5 are payable. Under Clause 3 of the Memonndum of A8110n part of any itKome may be distributed to the mernber5. Nehthcr honoraria nor cmolumcttts of any kind have ten paid to any Tn¢¢ of the Charity in respcct of their strvices as Trustee. Pnmcipol FMndinE Sour¢eJ The major source$ of itome for the charity continuc to be subscriptions aTKI m¢)nies rt¢eived from the Copyright progrdmtne. C4stAnalysi Thc Costs asso¢Jated with pr¢Jducing the Film and Video Maku magdzinc and offering the Copyrighi programrne are the main cOS associated with the chtirity. rnvuthiexl Poweps IPOli In line with Charity Commission adviK the TTU5teLs have adoNed a fornw] inve5trnent policy for the Clwity. This w&% revised at the Council meetifig of 17 July 2011. The remaith of this sxiion 5UllLM the k¢y el¢meThts of the policy. Th¢ Charity Is currently in surplus and histori¢ally. and at the year erf fiuJ¢Ls were invested in bank xcount& including fixed int¢re$t and norice deposit ¥coun¢& ihe Charitics Aid Foundation. and a FTSE Index-linked invcstment. Reeent World finan¢ial ¢vents have resulied in extremely low returns from bank deposits and have a]so highlighted the potential riskslnttd for govemment protection of deposits. In the UK ihc limit for protection is £85.0(M) for the 5urn of all the deposits held by the Chatity with each individual ]titution.
Page 4 INSTITufE OF AMATEUR CINEMATOGRAPHERS A COMPANY LIMITED BY GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2021 Fin#n¢i#l Review Under ihe Mernorandum and Article5 of Association. the Charity has ihe power to invest in any way the Trusttts wish. Similarly, under the Tn[¢¢ Act 20. the Tnle¢S have a very wide power of investment. The TruMee5 follow the basic prirKiple of the Charity Comrni5sion. in that they must take a prudent appritrach. Wll investing filnds the Trustees seek to strike the right balance between the two objectives of.. Providing an income to h¢lp the Charity carry oul its purpose5 elTeciively in tht short temi" and Maintaining and, if possible, enhancing the valu¢ of the invtstrd fiwds, so &$ to tnable ¢b¢ ch]ry to rry out effectively its purpose5 in the longer tern). Thc Trustee& in managin8 the risks facoj by the Charity. are mindful to baian¢e those risks agatnst th¢ potentia] return5 from particular investments. and to careful to avoid undue ri$k to ihe Chariiys funds by.. Investing only in markets where finan¢ial Services are Closely regulatttj. and wlw¢ Compensation xhemes are in HaviThg a suitably diversified investment ponfolio. Being particularly wary of makj.ng Sp]1ve foTins of in$nent. Reporting on the policies in this Annual Rwt arxl Financial Statemtfjts. Thc Trustce5 have re8ard to thc liquidity requirements of operating the C1wity and to tIK Reserves Policy of the Charity. The Inveseftt Policy 0Pted by the Tnet5 extends th¢ currem rang¢ of inve51ments beyond b¢arin8 d¢posits in bank%. building societies, thE Charities Aid FoutKlation and National Savings. The tnv¢5tmeni Policy is ihat the chon.tys in excess ot. immediate netsjs shcwid be managed to stture the be returns availabl¢ within a spread of Invests)Trt (hat.. Ensures fiJnd5 are available when required by day to day acttvitLCS" MiTriTnises risk by a spread within ihe range of peruutted Investmen and for deposits place4 then also within the pio¢e¢tioo limit provided by the Deposit Protrrtion Fu Allows equity investmeni but only in eslablished uttjt ttusts or Similar fimds and to a maximum of 20Ytr of funds generatly available- Pemiits Invesiment in fixed iniere4 of the FTSE 250 companies up to a ]rnuM of 20/D of funds generally available. lThitial, annual and any oih¢r costs of investing in such fijnds are properly ¢onsideT¢d and minimised. If appTopriate and d¢¢mcd co*-cffe¢iive, Treasurer may Seek iA£pendent advice. The Tre&surer reports anychanges in investments by type and v8lu¢ 10 the Cwncil 8t ea¢h meeting. Incom¢ from investments is identifid as part of the reporting pr¢xcss. Th¢Tr¢&5UTeT rxommends any ¢hange in investments to Co¥n¢il for approval. by email or meeting.
Page S INSTtTvfE OF AMATEUR CINEMATOGRAPHERS A COMPANY LIMITED BY GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2021 Investmen¢Pohers andPolicy fcwnffed) In order to discharge the duty io 0pt a prudent approach to the investment of the Charitys funds, Trnstees acknowledge they mu5t-. Know Iheir inveStr[ rrfjwets and wlicios" Discharge their duties properly when they take decisions about invesknKnt Have proper arrangements in place for holding inve5tmetts on ialf of the Charity. Th¢ Trustees are not liable io make gth)d the Chan.$ lo&$ simply an InvMent rnade by them is ungucce55fv1. However, Tnjstees may be liable if. in mok]"t)8 OT rtaining the umc(c$srul investment, they have acted outside the scope of their powers, or have failed to dixharge the duties referred 10 above. R¢serv¢g Policy ond Going Concern The Trustees have c5tablishcd the level of 8encral reserves (that is thog funds that are freely available) that the Charity ought to have. Reserv&s are needed to cover w)tenii gap8 io fimd d¢vdopmeni of the Charitys activities. and to cov¢r un¢Apeci¢d costs. The current aim of the Trustees is to.build the 8entral fvnd io a level to cover its cost for a period of iwo artd a half years. Satisfactory progress is being made towards this objectivc. Plrt$ for F ture Period5 The past 16 months have been a challcnging timc for cvcryiNK. filmmakers arbj groups included. Unable to mect physically, many.¢lubs iwk io meeting online and Prediciably. many films shown at BIAFF 2021 featUTed the national lockdowl as a theme. tnde¢d, the Be Bri¢ith Entry award was g]ven to BreThtwood Movie Makers for their ingeni(S film, The Chairt, fLlmed entirely Zwm. Onlirte mlg$ have provcn to be very svctesstul for our more active clubs. Wlth interesting pro8rammes and talks thai have atiraded attendees from tyond their own club memb¢rships. The sutt¢ssful Virtual Video Group owc5 its very existetlce the pandemtc. Our clubs and societies are the backbone of the ]AC - they introduce LLS 10 so many of our members. Supporting thern and indiwduals alike is key to the future of the IAC. More than ever, a strong online presence is key to ensllring the success of our onlirte events and wc recognise the role we have in devcl¢Jping this. Our web51tc remains a comcrstone . resource - for Members oM4 potential members a]ikc. Recognition and tharths go again io Jan WatttTson for the superb job she d(K$. We know that a website a]one is not enough. It o¢tsts 5UPPQrt of an &tive social mcdia presence to generate interest and traffic. We will continue io ¢ngage with our members through Jr IAC and BIAFF Facebook pages and encourdge them to promo th¢ir OWD activities on oyr wrgroup aThJ fonun& We wtll Continue to develop idas that br[ filmmakers tog to rnjoy iherr ¢re4rrvity. We started the online IAC Open Film Night5 to loW filmmakus to showcas¢ iheir fllms in an Infom1. non-eompetitive seuittg and these have bttn well supported. and our thanks go to our regulat and IAC Patron. Paul Kitte]. FACI. W¢ will conhnue to support regioLs and club5 Wth trainins grants and will explore the possibiliu¢s of providing onlin¢ training wher¢ pncticable. We will strive lo conttnue produ¢ing a Wld class film fe*ivaJ. The fe¢dba¢k from we receive from filmmakers and attendees is overwhelmingly positive. BtAFF is the jewel in the IAC'S crowi4 and we will ensure thai its strot)g reputation and value to member5 is rttainol.
Page 6 INSTITufE OF AMATEUR CINEMATOGRAPHERS A COTrtPANY LtMITED BY GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2021 HE Plan$ for Fuiure Periods We will Gontinuc tt) produce a high-quality mernbet5' rnagazin¢ w be prwl of. And finally. we whll continue to work in the interests of all our mernbtrs io suppor( ihtm in their filmmakiTh& to help them to gei ¢he m05t from this terrific hobby atld to give them the yu¢ for their mcmbcrship. rTha The IAC would Itke to thank Jan Watterson and her husband Dave for their WOTk on ihe IAC website, it being very irnptsrtant that the IAC has a very 51rong prtsencc on the int¢rn¢t. Alw thaThks mu# go to John Bartlett for running tht IAC Film Library. Gcrald Mee for admsing on the use of the IAC Music Cq)yri8hi Licence and all th¢ other mernbers who hav¢ lakett up an office duTing the year cithcr natIOn]Y or regionally. It Is only by Inemi5 taking an activt role in Ihe running of the Instiftrte that we can wntinue io enjoy art4 promote the LAC. Reference And Ad ' trtive Det ChArity Nam&. The Institute of Amateur Cinematographers Charity Registration Number." 260467 Compony Regt%lrAtion NwBb¢r.' 269085 ReRiSteredOJTwe and Op¢r41io#dAddress.' Mccracken Park Great North Ro*1 Gosforth Newcale uFw)n Ty Bu#k¢r$-. HSBC 54 gh Street EpM Surrey KT19 8DS E. J. HartSh0rne-FerguTh BAFCA Bell Tindle Williamsort LLP The Old Post Office 63 Saville Sttya Nonh Shields NE30 IAY Directors Trustee& The Charity is governed by a Council. whose mcmbeTS 8re the directors of the chartthble company for the purpose of the Comparti¢s kn. The diie¢tors are its tru5tecs for the purpose of charity law and thr(ShoUt this report are collectively referred to as the Trustees. The Trustees who served during ihe year were &% follo
Page 7 INSTITufE OF A4TEUR CINEMATOGRAPHERS A COMPANY LIMITED BY GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2021 Refererttt a Administrxdve Elected Tru.. L. Gough FACI resident) S. Sumner FACI (Chairnwi) R. Henderson FACI (Company Secretary) J. Howden FACI M. Whyman FACI A. W. Atkinson FACI P. E. C. Collins FACI R. J. Day FACI I. Rose FACE M. C. H. Gough FACI (M) T. D. Patrick FACI D. A Newman FAa W. J. Owen J. Williams FACI (ruigned 10 October2020) Stru¢ture Governance and M*na emeDt Governing DoeMNJent The Institute of Amateur Cinematographers Limited ts a company IimitrJJ by guarantee govcrncd by its Mernorandum and Articles of Association dated 6 O¢tober 1932, amended on 25 Febnwy and 4 November 1972. 8 October 2000 and 22 October 2006. It j5 re8islercd &$ a charity with the Charity Commission. There is no age limiraLiOn to be¢oming a member of the In5tilutc and there are currcntly approximately I.2 Mem each of whom 08TttS to corttribuie up to £2 in the event of the Charity wnding up. ..In xcordaTLce with s.l of the Companie5 Act 1980. th¢ CompanYs classification was changed from a public to a private company. Appointhienttsf The directors of the ComparLy are also ¢harity Trustees for the purpo of charity law. Under the requirements of the Memorandum and Articles of Aswiation, one-thitd of Tnjstees must retire by rotation. The Trusttts to retire by rotation sha]1 be those who have been longell in olyice since iheir last (re) appoinimenL If the va¢an¢y of the rdiring trustee carthot be filled by another candidate thcn they can bc rtappoinied in thtir original rol¢. Trustees are voted onto th¢ Council at the Anmjal General M1n& The Council has the TK)wcr to fill vacanci&8 and to appoint additiona] TnLStet5 &s li Conside fit to do so. A]1 of the Tmst¢es give their time voluntaTiIy.
Page 8 INSTITifTE OF AMATEUR CINEMATOGRAPHERS A COMPANY LIMITED BY GUA114NTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRtL 2021 ttllctu overD*nce #Dd Trwste¢ Training New Trustees ar¢ providd with an infomiatiots pack ntaiN)ng an cxplanaiion of the rolc. details of the duties of Tn5 and Directors, litjks for rther infonnation on ihese dutses and a copy of th¢ Memonndum and Articles of Association of the tAC. This is supported by ongoing diKussiott with atyj adv]ce from senior membets of the Courtcil. OrgoniTotion The Council. which can have no Itss than 12 and up to 30 TneTnbers. adrrunisters the Chariry. The Council meets quarterly and there art committtts and sUe0MMItteeS wlu"¢h meet regularly Covering Film & Yideo Maker and Website. Video Library" Finance, Stsffing and Remunern¢ion" UNICA PTowme,' UNICA 2020, Young Persons Initiative and Fellowship. The Institulc's Chairman and Vice-chairrnan ovus¢e the operation5 of th¢ Charity. A General S¢cr¢tary maT)ages th¢ day-io-doy affairs of the Charity. Two Members of CnCil Ire apwinted Administrdtion Officers to provide close links b¢twttn the Council and the Gcncra] Sccrtsry. The trusi¢¢$ have condu¢iryJ a review of thc major risks to which the clwity is exposed. As part of the risk rnana8cment proce th¢ trn&eEs have impl¢m¢Thied a risk rrw)agem¢nt strategy whJ"¢h ¢omprises.' An annual Tevi¢w of the risks ihat the tharity may face. Dctatled action Plat to mitigate those risks ideniified. •)d ImpleMen10n procedures deSId to minimisc any poteiitial impxt on the charity should atly of these risk¥ materialjse. Durin8 the year, th¢ Trnstees have taken steps to addrc5S 5pe¢ific risks iKludi Continuing effective controls over ca$ budgets and finwial commitments. Following a forni investmeni policy and pr(¢&lures. Working with the E&st Anglian Film AT¢hive to prc5crve rmr film archivc. Using an infomiation pack for Tru&ee induciion atKI training. Ensuring that insuratKe is in place for employ&s and other liabiliii4 includittg public liability at national events. Complying with the healih and safety policy of landlord. Prcparing our risk assessment documem. The Trustees arc satisfird that thry have taken all the necessary steps to lessen th¢ risks affe¢ting tIK IAC. Relthied P&rfwes In as far &5 it is wmpl¢mentary io the charity's objcclive4 the charity is guidrA by lo¢ai policy and partnership5. The relatel parties during ihe financia] year att shown in the nci¢s to the financial statements.
Page 9 INSTITUTE OF AMATEUR CINEMATOGRAPHERS A COLIIPANY LIMITED BY GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2021 Trustees, Rts nsibilities tlation to tht Fitsntil S¢teThents Th¢ Trustees (who are also the Directors for the purposes of company law) are responsible for pr¢parinB the TTUSt¢e5 AnTru Report and the financial staternents in a¢cordance with applicable law and United Kingdom A¢¢ounting Starblards (United Kingdom GetKrally Acccptcd Accounting PrxtLCC). Company law requires the Tru#ccs to prware fiTthncial statcmcnts for exh financial year which give a true and fair wcw of the state of the affairs of the ¢haritsble ¢ompaTry as at the balance shcd dC and of its incoming resources and appli¢ation of resour¢es, including the surplus or deficiL for the fiTwI¢l ye. In preparing those fjnancial statement4 the TrnsteC5 ar¢ r¢quird to.. Sclcct suitable accounting policie5 and then apply them eorGistently: Observe the methrM4s and pnnciples in the Chan"ti¢s SORP: Make tsnd judgments aTrJ csrimatcs that are reaqonablc and pnent.. State wheth¢r applicable UK ACC17E Standards have been follorf subjcct to any Thaierial dcpartures disclos and explained in finwxial statements" and Prepare lh¢ fLnarKial &ements on the going cotwn basis unless li is inappropriaie to presume ih the eharitable company will continue in busin$. The TNees have overall responsibility ftir ensuring that the chaTitablc company has appropriate systems and controls. rinan¢ial and othemse. The Trustees are a]so r¢Sn%]b]e for keeping proper &counting records which disclose with r¢Lsonable accuracy at any time the fi]wi¢ial POSi¢ion of the ¢hariiable company and to enable them io ensure thai th¢ financial Statements ¢omply with the CompaNes Act 2. The Trustees are also responsible for safeguarding the &sws of the chan.uble eompany and for their proper application a5 required by charity law, and hence for tth'ng reasonable geps 10 prev¢ni and detect fraud and other irregularities artd to provide re&wnable assurdnce that.. The tnstiDJLe of Amateur Cioemographer5 is operating efficiently and effectiv¢ly,' Ail assets are safeguarded again& unauihorised use or disposiiion aTrJ ar¢ Properly applied" Proper x¢ounting r¢cords arr maintained. and finan¢iaf infornalion u1 within The Jnstilul¢ of Amateur Cinemaiowhers is reliabl< and The In11¢ of Arrtat¢ur Cinematograplws complies Wilh rdevant la and Tegulations. The thte¢S are responsible for the maintenance and inte8rity of the corwatc and financia] infornjation includal on the ¢hari¢able company's website. Lcgisl*ion in the United ngdO[ governing thr preparation and dissc4nination of financial staiements may differ from legislation in other jurisdtctions.
Pase 10 INSTITUTE OF AMATEUR CtNEMATOGRAPHERS A COfvtPANY LIMITED B Y GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2021 Trwtees, Res onsibilities l¢ion 10 tbt Financial St#temnts TTUS1¢ The Twstee& who are Dire¢¢ors for the purpose of company law. and Trt¢t$ for the purpose tsl chaTity law. who sthved durittg the year •>d up to the date of ilu"s report arc set (xrt on pagc 7. In a¢¢ordaoce with company law. &$ the company's Director% we certify that: So far as we ar¢ aware ihere is no relevant infom)ation of which the Charithble company's indep¢nd¢nt examiner is unaware" and As Directors of the cornpany we have takcn all the sieps thai we ought to have tskets irt order to make ourselves aware of any releYdnt inforMlon and to esthlish that the charity's independertt examiner is aware of that infoTmation. 1#deptndentE¥4¢n¢1 li will be proposed ai the Annual General Meeting th E. J. Hartshorne-Ferguson of B¢ll Tin¢Je William9)n LLP will continue in office as the indyndent examiner for the ¢nwing year. This report was opproved by the board of tr4¢¢5 on 13 Novemb¢r 2021 aThJ sigrtd on i(5 beha]f by: S. SUhrfNER FACI ChairTnannrustec
Pag¢ll INSTITUTE OF AMATEUR CINEMATOGRAPHERS A Co[PANy LIMITED BY GUARANTEE INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2021 I rcport on the financial statemenrs of the charity for thc year ended 30 April 20215Ct out on pages 12 10 23. ibilitia of Trnsttes ##d x#miner The charity's trustees (who are alsD the directors of the company for the pury)ow of company lawl are responsible for the prcparation of the financial statements. The charitys trlee5 consider an audit is not required for the year under seetion 144{2) of the Charities Act 2011 (the 2011 Act) and that an indcpendemt examination is needed. Having wisfied myself thal the Chariry is noi subjea to audit ynd¢r Pan 16 of the Companies kn 2006 and is eligible for independent examithation, IL is my resPoNbillty to.. examine the fJnarKial stat¢meThLS under section 145 of the 2011 Aci- to follow the pr(edures laid down in the GeneFal Direaions given by the Charity Commission undcr section 145(5Mb} of the 2011 kn,. and to ate whether particular matters have come to my attention. B•sis of Inde ndent ExDIner'S Re My examination was ¢arri¢d out in accordan¢e wth Lhe G¢n¢ral Directions given by th¢ Charity Commission. An examination in¢lud£s a review of the accounting records kept by the charkty and a eompari50n of the financial statements pKsented wth Ihose records. It also Inc]leS C01derdt10n ol any unusual itellLS or disclosures in the financial statements. and the seeking of explanations from you 3S trustees concerning any such matters. The procedures undertaken do provide all the evidence thar would required in an audit and. cotLsequently. no opinion 15 gkven as to whether ihe finaocial statements present a Irue and fair at)d ihe rewt is limited to those matters set out in the meni below. Inde etettt ExaJniner'5 Stt¢wttt In connection with my examinaiion, no rnatter has come to my attention." which gives me reasonable cause to Wieve tha4 in any matrrial re5pe¢¢. Ihe Yequirements: (a) to keep a¢wwiiithg re¢(th in accordance with section 386 of the Compaoies Act (b) to pr¢par¢ financial statements wfv"¢h a¢¢ord with the arc(Mmting records and comply th the accounting requirements of section 396 of Companies Aa 2006 have tb)¢ been mel or to which, in tny opinion. attention shtyjld be drawn in order to e]kble a proper utKlerstanding of the fLnattcial statemcnts to be reached. B¢ll Tindle Williamson LLP Chartered Accountants and Registered Auditi)r5 The Old Posi Office 63 Saville Strect Nonh Shields T>mc and Wvdr NE30 IAY &tZ_ E. J. Hartshorne-FergLLson BAFCA lTrlependent Examiner 13 November 2021
Page 12 INSTfTUTE OF AMATEUR CINEMATOGRAPHERS A COMPANY LIMITED BY GUARANTEE STATEMENf OF FINANCJAL ACTIvfTIES INCORPORATING INCOME AND EXPENDITURE Accou[ FOR THE YEAR ENDED .30 APRII. 2021 trieted 211211 20ZI INCOME: Donations and Legacies 48.174 53,921 Activities for Generating Funds 53 55 Inv¢stmetht Income 4270 4,965 Income from Charitable Activities 2,272 9,404 TOTAL INCOMING RESOUR 64.769 EXPENDITURE: Cost of GentrAtin8 Funds Fundraising Costs- Subscriptions Pur¢hase of L4C MeT¢hatlSe 7.335 24 7,655 60 Expenditure on Charitable A¢tivilies 45,940 58.277 TrAL ExPENDURE (DEFICITYSURPLUS FOR THE YLIR 11.470 2.353 Unrealised gain{lo$SeS) on invesim 2,428 (2.739) NET MOVEMEKf IN FUNDS FOR THE YEAR 13.898 386 RECONCILIATION OF FUNDS: OPENING FUNDS AT Isr MAY 21120 A7 191,412 191.798 SURPLUSI(DEFICIT) FOR TRE YEAR 13,898 (386) CLOSINC FUNDS AT 31yfH APRIL 2021 17 205310 191412 The Statement of Financial A¢rivities ittludes atl gains and losses in the yearand therefo a temen1 of iotsi recognLs&J 3j losses has YK)t been prwed. All incoming resthjrces and rEsourtts expe derive frorn continuing activitL¢5
Page 13 INSTITirrE OF AIVIATEUR CINEMATOGRAPHERS A COTrIPANY LIMITED B Y GUARANTEE BALANCE SHEET AS AT 30 APRIL 2021 HE Note 21121 2020 FIXED ASSETS Tangible Asscts Investrnents li 12 io 35.138 io 32,710 Sio¢k Debto Cash at BaJLk and in Hand 13 14 15 416 24.305 168 389 193.110 416 25.962 182,526 CREDrroRS. AMOUNTS DUE WITHIN ONE YEAR 16 22.948 NET CURREKf ASSETS 170,162 158,692 TOTAL ASSETS LESS CURRENT LIABILfnES 205,310 191,412 FUP4DS OF THE CHARtTY General Fun(ts Designated Fund.. UNICA in the UK Designat¢d Fund.. EARJAC Fund De5igrthted Fund.. NW Regi¢)n Fund 17 165,564 30.C(K) 4.223 157.189 30,000 4.223 205.310 191.412 These financial statements have been prepared and delivered in accordan¢¢ the provisions applicable to companie5 subjcrt to the small companics, regime and in accordance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland,. For the yrar ending 30th April 2021 the company was entitled to ¢x¢tnptioTh from audit under section 477 of tlLe Companies Act 2006 relating to 5ma]I companies. Dire¢iors' reswnsibilities: The members have not r4uir&l Lhe compaT)y to obtain an audit of its financial stements for th¢ year in question tn accordance with section 476" The dircctors acknowledge their rcspoThsibilitie5 for complying with the requirtmcnts of the Act with respect to a¢wunling records and the prepardtion of fiTne[al staternents. The5c finatKial 5talernents wcrc approved by the Eoard of dtrectors and authori5¢d for isw¢ OD 13 November 2021 and are signed on their beha]f by= R FACI Chairnianrrrus¢ee IL HENDERSON FACI Company Secrttary R¢gislration NUrn: C269085 The notes onpages 14 ts 23forn pdrtoftheseft1dSt&1¢TrIS
Page 14 INSTfTUTE OF AMATEUR CINEMATOGRAPHERS THE A COMPANY LIMITED BY GUAIL4NTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2021 ACCOUNllNG POLICIFS The principal accounting policies ad(yted in the preparation of the fjnanciai statements are S out below. Th¢ a¢counting policies have been applied consistently throughout the year and in the preceding year. $1$ of Pre •rt5on of FiDaDrI St8teJneDts The financial siaternents have been prepared under the historica] cosl Conventio and in aecordanct with Accounting and Reporting by Charitie5: Staiement of Recommended Practice applicable to charitics preparing their acCntS in actordanrc with the Fin3nciaJ Rcporting Standard applicable in the UK and Rcpublic of treland (FRS 102) (etTtiVe l January 2015) - {Chariti&8 SORP IFRS 102)). the Financial Reporting StaTKiard applicable in ihe UK and Rcpublic of Ireland IFRS 102) and the Companses Aa 2006. The Insiitute of Amateur CincmatogApheTS mccts the definition of a public benefit entity under FRS 102. Assets and liabililies are init1311y re¢ognised at historical cost or trdnsaction value unle55 Otherwise stated in the levam a¢¢oimting policy note. aratiott of the F. tatettttts o The truee$ consiéer that ihcre arc no material uncertaintics abJt tk Choriws ability to wntinuc as a going concern. The tnjmees have considered ihe impaci of Covid-19 and the financial assisiance received when reaehing t.5 judgeffteThi. Th¢r¢ ar¢ no Slficant judgments or key sour¢¢s of estimaiion un¢enaimy atT¢¢t the flnaneial statements. c) Ca8lx Flow statent -.Th¢ .Trustees have taken advantage of the exemption frorn including a cash flow ststement in th¢ financial statements on the grtsunds that the chartty is small. 'ble Fixed A$sets pJi rixed awts are initially 0rd at COSL reeiiiott Dq)reciation is calculated to WTite off the coll of fixed over the expected useful live5 of the &ssets conctrned. The princip81 annual rdie5 for tS PUTpose. which areconSitDI with those of the previous year, are".- Office Equipment Fixturcs and Fi¢lings Film Library and Trop?ues 25Y4 Straight Line StTaight Line NorniTha] Value These MpriSe promotional and member items for 5c and are reflecteil on lat¢5t recorded coas basis. Expenditure on stationery and membership badg¢5 is expetLsed in th¢ year paid.
Page )5 INSTITUTE OF AMATEUR CINEMATOGRAPHERS A COMPANY LIMITED BY GUAIL4NTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2021 ACCOUIffiNC POLICIES Ail income 15 recognised once the chariry h&$ cntitlement to the incom4 it is probable that the income will be received a] the amount of incorne receivable can be measured reliably. Donations and graTrts are recogni%d wh¢n the chariiy hos been notified ID WTiting of both lh¢ amount and stlllement datc. In th¢ event thai a donaiLon is subjttt to conditions that require a level of performance before the chariiy is eniitld io Ihe fund% the income is deferred and not recognised until eithcr those conditions are fillly mei or the fiLlfilment of those conditions is wholly within ihe eontrol of the charity and it is probable that thosc conditiorL% will bc fulfilled in the reporting period. SubxTiPtions receivable are regnISed over ihe year to which ihey relate, wih any balance altributabl¢ 10 peri(Mts after the IMlan¢¢ Sh d&e Inclu in deferred in¢ome. The income from ¢haTithble activities is I]Udl w]th the 3sSCtiated expendiwT¢ included in charitable costs. Investment income 15 included when receivable. endiiure Expertditure ts r¢¢ogntsed OTtce there is a legal or const1¥¢ (ligatiOn io make payment to a third party, il is probabl¢ that settltmeni will b¢ r¢quir¢d and the amount of the obligation ¢an be rneawffd reliably. Expendi¢ur¢ is elassified under the following a1Vity headin. ChaTitsble expcnditurc comprise5 costs incurred by the charity in thc dclivery of its activities and Se1¢. It itKludes jh costs that can be a]located ditlY to specifi¢ departments and those ¢¢)sts of an indiTe¢t natute necessary to support them. Chari¢able aCti¢1¢S in¢lude expenditure &wlated with the publishing of the Charity% magazi], "Film and Video Maker., staElrtg film festivals and Com)110n providing training and grants, Providing infotTnation to members and the public by phone, email and ihrou8h rhc IACS website, OFCTaling the fjlrn library and arclu've, and ertCOUTagirt8 film.m#ktng thThgh advisin8 on and administering the copyri8ht prograrnme. Governance ¢oAs incllld¢ those ¢osts as5cKIat wth m¢aing ihe ¢on#ituiional and stawiory requirements of th¢ chariry and include the Itdent examiner f¢e and costs linked to th¢ stratryLC Inanagement of thcchan"ry. Costs of ¢TatINg fi$ are those coas in¢urred in indu¢ing peoplc and organisation5 to contribute fittancially io the Charitys worl and in th¢)se a¢tiviiies ihat nise fimds. Tkn"s includes lh¢ co& of advertising for t)¢w prc¢essin8 subs¢rip¢ions and donation& and th¢ staging of fiLtwJrai5in8 C1& The pur¢ha5e of IAC merch15c LS sepalately di%losed. Support co#s include expenditu on the management and admini4ratLOrt of the Charity. including the ¢osts of renting and running office prernis, and $arleS for adnistratiOn staff. Where these costs are not attributable ro a single activity. they are all] on a basi5 Co$1¢1 with the use of resour¢¢s. cg 5tsff and premise5 costs apportioned by thc time speni, and othei rosts by their usage.
Page 16 INSTITirrE OF AMATEUR CINEMATOG114PHERS A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL sTATENTs FOR THE YEAR ENDED 30 APRIL 2021 AccOUNTC POLICIES - d A¢¢ountin UTtres¢ri¢ted Funds are fimds which arc available for usc at the discretion of the trustees in furthcrnnce of the general objectives of the Chariry and whJ¢h have been desig1ed for other putposes. Designated Fwids are u[eStriCted funds received for a particular purpo Restricted Funds are funds which are to be used in &cordance with specific rc5trictions imposed by their donors or whi¢h have been raised by the charity for particular purposts. The co$ of rnising and adrniThistering such fvnds are charged again4 ihe spIfiC fund. J) Finance 8nd Rentsls applicable lo opuatin8 leaw are charged the SuLM)ent of Finan¢ial A¢iivitie5 over the period they are inCUTred. Assets obtained under firwKe IrdSaS are capiialised as tangible fixed ets. Obliwdtion5 under such Icascs are included in crcdilors net of finance char8es allLKated to future periimls. Thc finance elerncnt of h payment is charged to the Ststerncnt of Financial Activities so as to prc*auce a ¢onstant periodic rate on the net obliga¢ion outstanding in each period. k) lrtvesijnents Listed inve5trnents arc shown at rnarkct va]ue. tnve5tmetts arc a form of basic finanriat iTlStrumcnt and are initially rec¢)gnised * iheii Iransaction value and b$eqUentIY measured at their faiT value as al the balance sheet dale usit)g th¢ ¢losing quoted mwka price. The swem¢N of financial aciivi¢i¢5 include5 th¢ net gains and losses arising on revaluation througknui the year. l) Irrecover•ble VAT Ail resources expended are clwified under activity }ing5 that aggregate all costs related to the category. .IrrCVCrabIc VAT is charged agatnst the category of resrrttr¢ extThded for which it was in¢urred. ) Debtors Prwayments are valued at ihe arnount of expendittjre that is prepabd Other debtors are cai¢ulated accoTding]y. Cash at bank Comprises fijnds ld in Ihe charity bank tUTreNt xeclI and interest bearitlg deposit accounts. Creditor5 are recognised where the charity has a present obligation resuliing from a pa event that will probably re5uIt in the transfer of funds to a ihird party and the amount duc to scnlt the obligation can bc mwured or estimated reliably. p) Financial I truments FinarKial instruTnthts are ¢las5ificd and a¢¢thmied for. according to the wbstsTtt of the contrxtual arrdngement, as either finatKia] assct5 or equity ITtrUMents. An equity liwnent is any contract that ewden a residual interest in the a&sets of the compatry after deducting all of its liabilities.
Page17 INSTITUTE OF AMATEUR CINEMATOGRAPHERS A COMPANY LIMITED BY GUAIL4NTEE NOTES TO THE FINANCIAL sTATE1¥NTs FOR THE YEAR ENDED 30 APIUL 2021 THE AL STATiJ The charity is a company limited by guarnntee and has no share apitsl. Tk liability of each member in ihe event of winding up is limited to £2. NATION GACIES nrestricted 21121 Subscriptions reeov¢rable on subscriptions Donations N West closing fiuMIs Lc*al Authority grdnt 40,111 43,114 4,242 1.042 5,523 136 2.927 TMENT restricted 2021 Income from inter&st bearing xcounts 4270 4,965 E FROM CH TABLE A Dre5trieted 2021 2020 Feslivals and ¢ompetitions vid library and film archive Copyright prngrdllC Refund of theatre d¢posits loo 21 8.688 3.463 100 98 9,206
Page 18 INSTITUTE OF AMATEUR CINEMATOGRAPHERS A COlPANy LIMITED BY GUARATEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2021 MANACEMEP MINISTRATION STS Unrestricted Unrestricted 2021 otFice rent and services Adrninistration staff (noie 8) Independent exarnbnees ftts Other administrative costs 3,536 15,780 1.225 4,134 6.103 15,528 1.276 4,232 24,675 27,139 These cOS are allocated in support &Y1viti &5 Shown in tIK table below. on a b&sis corLSiSt¢nt with the use of rcsouTC¢S. a5 Set out in Note I Ig): Unr¢stricted Unre5tri¢t¢d 2021 2020 Fundruising cosls- 5ub5cnpfyoRs - specific aJlocalLons - 3pportiotLment of remaining offic4 administration and staff co 1.173 783 7.335 7,655 Chariluble octivili¢F - specific a]l(Kations - apportLtsTunent of remainin8 offic4 administration and staff cS {noie 8} 1,332 902 12.650 13,501 Governonce ¢ts$ts Indepert4¢nt cKaminels fees. council meetings and AGM - apportionment of rtttLainiTLg office. admiru$irtion and 5tsff cth¢% 1.609 2,547 3.436 5,983 4,690 LE ACTIVITIES Unre5trlcted UDre5trieted 21121 2020 Magazines Festivdls and competitions Film archive and video librdry Copyright PTogrnmme Website infonnation 5crvice Grdnts awarded Depreciation Independent Examin&s fe&s. council M18$ and AGM Gov¢man¢¢ element of offic< administrdtion and staff Costs Other Tota] dire¢t cOS Support Costs ailwated to charitable aoivities (note 6) 21.530 82 21,452 .141 19 7.396 604 6.118 870 1.609 3,081 2,547 3,436 33,290 12.650 45.940 44.776 13,501 58.277
Page 19 INSTITUTE OF AMATEUR CINEMATOG114PHERS A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2021 HE sis FST TRUSTEE REMUNERATION KEY MANAGEMEPa PEILSOYNEL D EXPENS 2021 2020 Gross salaries 15,780 15.528 Total (Nte 6) 15.528 No employees had employee benefits in excess of £60.(N)0 {2020- £nil). The charity Trustees were not paid or rtteived any her beneflts from emplOt with the ¢haTity in the year (2020 - thrl) tteither wcre tIKy reimbursed expenses during the year (2020- Enil). No charity Tru5tec received payment for professiond or servicts supplied to ihe charity nor did they receive any hotjoraria {2020 - £rtil). The key management pers(tI of the charity Comprise the Truslees. Th¢ average weekly numb¢r of ¢mploye4 calwlated ¥ full time equivajents was as follo analy5¢d by typt of activity.. 202 202 Fundraising Chariiabl¢ activities Governance The charity d5 not opernte a pension schem 10 NET INC ci OUTCOING RESOURCES FOR THE YEAR Depreci10 of iangible flxed a¢ Operatin8 lease rentals. fixed scrviccd office cosrs Independent examin¢T'S fe¢5 5.776 5,776
Page 20 INSTITUTE OF AMATEUR CINEMATOGRAPHERS A COMPANY LIMITED B Y GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRtL 2021 11 TANGIBLE FIXED Libr8 Tro Fitti TOTAL co s.at 1st May 2020 Addiiiorts Disposals As ai 30th April 2021 2,612 io 2,922 300 io DEPRECIATION As at 1st May 2020 Charge for year On Disposals As at 30th April 2021 2,612 300 2,912 2.612 2.912 NET BOOK VALUE As at 30th April 2021 io io at 30th April 2020 10 10 12 INVESTMENTS Inve4ments comprise of equiti£s listed on a reco8ni5cd stLKk exchange. Investments are shown at market value. 2021 202 UK equiti¢s 13 sfocK 2021 202(1 Closing &k 416 416
Page 21 INSTITirrE OF AMATEUR CINEMATOGRAPHERS A COMPANY LtMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2021 HE EBTO Pr¢Paeftts Accrued interest receivable Prepaid magazine costs UNICA 208 1.197 197 1.328 1.537 22.900 22.9 15 CASH AT BAI¥K AND IN HAND 2021 2020 cUenT ac¢ount cuent &¢ount (Competition) Instant acces5 accounts (interest4>earin8) Fixed-ierm deposit a¢collTht Hargrtsves Lansdown 12.970 568 71.984 72.530 10,337 5.130 568 71,51 71,202 7,737 168,389 156.148 16 CREDrro 2021 Amoxntsfolling d¥e *ythin oneyew.. Deferred in¢ome- subscriptio$ in •Jvance Copyright It¢ensts Compet2tion prize bequ£st Other cr&litOTS and occnds 19.262 1.231 500 1,955 20.150 1,129 1,955 22,948 23,834
Page 22 INSTITUTE OF AMATEUR CINEMATOGRAPHERS A COMPANY LIMITED BY GUAIi4NTEE NOTES TO THE FINANCIAL STATElNTs FOR THE YEAR ENDED 30 APRIL 2021 THE 17 STATEMEiYf OF FUNDS Trxn$fers Betsveen B#l#nce Img 2020 2021 ijnrestricted FndS Genetai Designated Fund.. UNICA in the UK tksignatcd FutKI.. EARtAC Fund Designated Fund: NW Region Fund 157.189 64.769 (50.871) (5,523) 165.564 30.OIK) 4223 4.223 5,523 5,523 191.412 50.871 205.310 UnreSetedFknft¢f. Getterdl The fijnds can be used in any way by the in accordance wilh the objectives of the charity. Designat F4nd.. UNICA in the UK Iii order to allow more LAC mEmbeTS and others tts access the UNICA World Amateur Film Festival. a 'UNICA 2020. sU0MmIttee a¢tsvely planncd for thts festtval. W"¢h would have b¢•J helll itt ..Birmin8ham.in Augu# 2020. a5 manded by S18] resolution at th¢ 2012 AGM. A £30,000 desi8t)at¢d r¢ h&s bcen e5tabli5hed to help this possibility. Designoted Fmmd.. EAIUACFMJrd . This fund represents the closing funds of the EARJAC region which were received on 1211212014. These . funds are to be repaid (o E4ktAC should thts region eycr and coThscquently are 5howTr tn a scparately designated fund. Design4¢¢d F4nd.. JVWR¢gi•n Fund This fijnd reprr%nts the Closing fvnds of thc NW Region. 18 INDEPENDEfa EXAMINER'S FEE The independent examinion mrk ¢onduued entailcd a fee of £1 JO2. 19 TAXATI As a ¢haTity, The I[lIte of Amateur Cinemaio8fdphers is cxernpt from tsx on income and gains falling wiihin Se¢iion 505 of the Taxes Act 1988 or section 256 of the T&xation of Chargeable Gains A¢t 1992 10 the extent thai these are 4)plied to its charitable objects. No tax ¢tEeS have arisen in the charity.
Page 23 INSTITUTE OF AK4TEUR CINEIUTOGRAPHERS A CON(PANY LlTrtrrED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR EIWDED 30 APRIL 2021 HE 20 RELATED P ACT No tra1CtiOnS wilh related panies weve undmknen such as awe requiTed io be dis¢losed under FRS 102. 21 ULTIMATE CONTROLLING PARTY In ihe opinion of thc intstrffj there is ultimaie controlling party ofthe charity othcr tlwi the Board itself.