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2022-03-31-accounts

REGISTERED COMPANY NUMBER: 01409066 (England and Wales) REGISTERED CHARITY NUMBER: 277415

Report of the Trustees and

Financial Statements for the Year Ended 31 March 2022

for

Rio Centre (Dalston) Limited(The)

Ark Accountancy Chartered Certified Accountant & Statutory Auditor 31 Cheam Road Epsom Surrey KT17 1QX

Rio Centre (Dalston) Limited(The)

Contents of the Financial Statements for the Year Ended 31 March 2022

Page
Reference and Administrative Details 1
Report of the Trustees 2 to 5
Report of the Independent Auditors 6 to 8
Statement of Financial Activities 9
Balance Sheet 10
Cash Flow Statement 11
Notes to the Cash Flow Statement 12
Notes to the Financial Statements 13 to 21
Detailed Statement of Financial Activities 22 to 23

Rio Centre (Dalston) Limited(The)

Reference and Administrative Details for the Year Ended 31 March 2022

TRUSTEES Ms S Chorley
A Andrews
Ms T S Andrews
G R Binette Deputy chair
Ms A L F Clark Treasurer
Ms F M Johnston
R Kirwan
Ms S H M Robertson
R S Ruprai Chair
COMPANY SECRETARY P Lyons
REGISTERED OFFICE 107 Kingsland High Street
London
E8 2PB
REGISTERED COMPANY 01409066 (England and Wales)
NUMBER
REGISTERED CHARITY 277415
NUMBER

SENIOR STATUTORY AUDITOR Mary E Ryan

AUDITORS Ark Accountancy
Chartered Certified Accountant &
Statutory Auditor
31 Cheam Road
Epsom
Surrey
KT17 1QX
SOLICITORS Dechert LLP
160 Queen Victoria Street
London EC4V 4QQ

Page 1

Rio Centre (Dalston) Limited(The)

Report of the Trustees for the Year Ended 31 March 2022

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 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

The Rio is a registered charity incorporated as a Company Limited by Guarantee. The organisation's day-to-day activities are carried out by a staff team led by Executive Director Oliver Meek and his Operations Manager Yoan Segot. The Rio does not make use of "zero hours" contracts.

The Charity's core activity is to run the Rio Cinema, an independent cinema with two screening rooms, and a unique policy of community access and local involvement. The cinema is traditionally open 364 days of the year (except during the recent pandemic years), and its wide-ranging and varied programme typically presents approximately 1300 screenings annually incorporating: main feature films, programmes for children and the elderly, special events, festivals and independent films. The Rio provides a focal point for the area and also convenient and economical access to cinema for a wide range of Londoners, regularly offering discounted tickets both to the general public and targeted at specific groups.

Public benefit

The Directors have considered the Charity Commission guidance on public benefit and consider that the activities of the charity provide public benefit within the following charitable purposes:

The Advancement Of The Arts, Culture, Heritage Or Science

The Rio promotes an appreciation of the best of world cinema for the local community in the London Borough of Hackney and neighbouring boroughs. Through participation in film festivals showcasing work from around the world, the Rio demonstrates its commitment to providing local residents with as diverse a programme of high-quality cinema as possible. Partnerships with other independent cinemas, arts festivals and a local museum help to keep alive and advance a thriving independent arts sector in London.

The Advancement Of Citizenship Or Community Development

Cinema itself is a communal experience, an accessible art form that attracts a diverse and wide range of people. The Rio provides a home to film festivals that reflect the diversity of the local population, featuring films that may otherwise go unseen in the UK. These screenings provide an opportunity to learn about one another's cultures and heritage, aiding and developing community relations. The Rio also provides an outlet for local community organisations and charities to promote their causes, both through public screenings and our education programme. Online. The Rio Player provides a further platform to reach our community including specialised categories focused on local talents and LGBTQ+ cinema.

The Advancement Of Education

The Rio's extensive programme of schools screenings provides an invaluable adjunct to the classwork of local schools and is viewed by teachers as a significant educational resource. Filmmaking and animation workshops provide children with an introduction to the principles of both art forms. Using the recently digitised archive of photographs, the Rio collaborates on educational projects with local schools and museums.

The Relief Of Those In Need, By Reason Of Youth, Age, Ill-Health, Disability, Financial Hardship Or Other Disadvantage

The Rio is determined to make film as accessible as possible to the local community, and therefore seeks to provide low-cost access to the cinema for people on benefits and for children to facilitate the widest possible access to its services. The Rio's monthly Classic Matinee aims to reduce feelings of isolation for older people and enrich life of those in care, providing local older people with an opportunity to socialise, enjoy a film and also free tea and biscuits. A community discount is available to appropriate organisations and individuals looking to hire out the cinema for their projects.

Page 2

Rio Centre (Dalston) Limited(The)

for the Year Ended 31 March 2022

Report of the Trustees

ACHIEVEMENT AND PERFORMANCE Charitable activities Building Improvements

With the support of the Architectural Heritage Fund, we completed a feasibility study for a potential Screen 3 in unused space above Screen 1. We have also completed the enlargement of the lobby and are awaiting our new bar to be installed in 2023. We believe this will better serve our members who might otherwise go to other nearby venues for refreshments before seeing a film and provide a larger space to meet, talk and relax. The projected increase in bar spend per head will add to the long-term viability of the cinema and provide an investment for future generations. This is already evident with a pop-up bar arrangement in the already larger space which allows for serving our audience quicker and reduces long queues.

Staffing

Transparency and communication between trustees and staff are key and the new Staffing Sub-committee has continued to take on staff ideas, improve processes and arbitrate on issues successfully. All staff have not only been retained despite challenging economic conditions but also given multiple pay rises to share in the Rio's success. Where staff have left of their own accord, recruitment has taken place to ensure enough skills are in place to operate the cinema. Staff were consulted before responding to government easing of pandemic-related restrictions to ensure we operate at levels with which they are comfortable. Staff have also been encouraged to get involved with sub-committees and present their ideas to the Board directly.

Independent Cinema Community

The success and experience of the Rio during difficult conditions have led to other independent cinemas seeking our help and advice. In two cases, this has led to long-term service agreements signed with other cinemas where we provide services by sharing existing staff and charging a modest profit margin on our costs. This additional regular income has been a key addition to our revenue and one we believe we can grow in future for the benefit of our charitable activities. Further cinemas have expressed an interest and the feedback from our current partners has been excellent.

Technology

Whilst audiences were mandated to stay at home, the Rio reached out to them by implementing and then upgrading an online streaming service called The Rio Player. This continues to provides an extra source of income whilst providing another way to reach and serve our members and community. After extended discussions with multiple vendors, we are now in a position to upgrade our point-of-sale system, website and membership offerings.

Sustainability

Our new Sustainability Sub-Committee continues to look at future improvements. Staff and trustees have showed great passion in making a real difference in all areas from the materials we use, the suppliers we deal with and how we generate our electricity. Our application to install solar panels to power our projector was unsuccessful but we continue to engage with local planners and experts on future options.

Community Outreach

Andrew Woodyatt is our dedicated staff member for community and educational work at the Rio. Andrew has continued to build upon the success of The Rio Tape/Slide Archive, by working with Hackney Museum and local schools on a number of projects. The Rio continues to be a key venue for community and educational festivals such as Fringe! and Into Film. Our new LGBTQ+ film club "Pink Palace", plus events focusing on Black History and Indian Cinema are all examples of the Rio's tradition of a diverse programme and welcoming venue for the whole community.

Page 3

Rio Centre (Dalston) Limited(The)

Report of the Trustees for the Year Ended 31 March 2022

FINANCIAL REVIEW Financial position Financial position

The figures to March 2022 cover another exceptional period and are not indicative of a usual year of trading as admissions and new films releases took time to return to normal conditions. Income from grants and a range of special events and partnerships provided key sources of income this year. In addition, last year's steps to diversify income to improve resilience are reaping rewards. These include new sources of revenue from online streaming, book and merchandise sales, advertising, providing services to other cinemas as well as maintaining regular income from private events and hires. The income and staff-sharing from collaborations with other cinemas has allowed for multiple wage increases as we get closer to our goal for paying London Living Wage to all staff. The increasing number of sold-out special screenings with high-profile guests is cementing our position as the place to come for event cinema.

DCMS Culture Recovery Fund

During the multiple lockdown periods of the Covid pandemic, cinemas had to comply with a series of new restrictions often with little notice. Venues in the arts sector had to either close or operate at significantly reduced capacity, thereby incurring losses. On 5 July 2020, the then Secretary of State for the Department for Digital, Culture, Media and Sport (DCMS) announced a £1.57 billion Culture Recovery Fund rescue package for cultural organisations to help the sector survive, and when possible, reopen. The Rio Cinema successfully applied during all three rounds of the Culture Recovery Fund providing us with enough funds to retain all staff, invest in necessary equipment upgrades and cover losses for reduced capacity and closure.

Reserves policy

The trustees deem it prudent to hold three months running costs in current assets. With the support of the DCMS Culture Recovery Fund, we are in a position of maintaining more than our full reserves as of 24 November 2022.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document - a deed of trust - and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

The charity owns a subsidiary limited company that is used to provide services (consultancy, programming, accounting, marketing) to other independent cinemas. This allows us to support our community of fellow independent cinemas in London whilst generating additional income to subsidise the operation and improvement of the Rio Cinema.

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Rio Centre (Dalston) Limited(The) for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 4

Rio Centre (Dalston) Limited(The)

Report of the Trustees for the Year Ended 31 March 2022

STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued

In so far as the trustees are aware:

AUDITORS

The auditors, Ark Accountancy, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Approved by order of the board of trustees on 30 November 2022 and signed on its behalf by:

Ms A L F Clark - Trustee

Page 5

Report of the Independent Auditors to the Members of Rio Centre (Dalston) Limited(The)

Opinion

We have audited the financial statements of Rio Centre (Dalston) Limited(The) (the 'charitable company') for the year ended 31 March 2022 which comprise the Statement of Financial Activities, the Balance Sheet, the 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 (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company 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 charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are 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 Annual Report, other than the financial statements and our Report of the Independent Auditors 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.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Page 6

Report of the Independent Auditors to the Members of Rio Centre (Dalston) Limited(The)

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they 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 charitable company'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 charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

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 a Report of the Independent Auditors 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:

Irregularities, including fraud, are instances of non-compliance width laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Page 7

Report of the Independent Auditors to the Members of Rio Centre (Dalston) Limited(The)

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' 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 charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Mary E Ryan (Senior Statutory Auditor) for and on behalf of Ark Accountancy Chartered Certified Accountant & Statutory Auditor 31 Cheam Road Epsom Surrey KT17 1QX

30 November 2022

Page 8

Rio Centre (Dalston) Limited(The)

Statement of Financial Activities for the Year Ended 31 March 2022

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Charitable activities
Cinema
Investment income
3
Other income
Total
EXPENDITURE ON
Raising funds
5
Charitable activities
6
Cinema
Total
NET INCOME/(EXPENDITURE)
Transfers between funds
19
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
59,619
853,355
14
115,992
1,028,980
273,813
643,085
916,898
112,082
(106,352)
5,730
97,635
103,365		 Restricted
funds
£
-
-
-
-
-
-
18,365
18,365
(18,365)
106,352
87,987
227,176
315,163		 31.3.22
Total
funds
£
59,619
853,355
14
115,992
1,028,980
273,813
661,450
935,263
93,717
-
93,717
324,811
418,528		 31.3.21
Total
funds
£
251,369
289,661
35
12,712
553,777
81,846
515,518
597,364
(43,587)
-
(43,587)
368,398
324,811

The notes form part of these financial statements

Page 9

Rio Centre (Dalston) Limited(The)

Balance Sheet

31 March 2022

Unrestricted
funds
Notes
£
FIXED ASSETS
Tangible assets
12
41,639
CURRENT ASSETS
Stocks
13
7,011
Debtors
14
25,489
Cash at bank and in hand
178,944
211,444
CREDITORS
Amounts falling due within one year
15
(102,598)
NET CURRENT ASSETS
108,846
TOTAL ASSETS LESS CURRENT
LIABILITIES
150,485
CREDITORS
Amounts falling due after more than one year
16
(47,120)
NET ASSETS
103,365
FUNDS
19
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Restricted
funds
£
315,163
-
-
-
-
-
-
315,163
-
315,163		 31.3.22
Total
funds
£
356,802
7,011
25,489
178,944
211,444
(102,598)
108,846
465,648
(47,120)
418,528
103,365
315,163
418,528		 31.3.21
Total
funds
£
345,069
1,836
9,496
126,680
138,012
(98,500)
39,512
384,581
(59,770)
324,811
97,635
227,176
324,811

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 30 November 2022 and were signed on its behalf by:

A L F Clark - Trustee

The notes form part of these financial statements

Page 10

Rio Centre (Dalston) Limited(The)

Cash Flow Statement for the Year Ended 31 March 2022

Notes
Cash flows from operating activities
Cash generated from operations
1
Interest paid
Net cash provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Interest received
Net cash used in investing activities
Cash flows from financing activities
New loans in year
Loan repayments in year
Net cash (used in)/provided by financing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period		 31.3.22
£
141,678
(1,255)
140,423
(63,873)
14
(63,859)
-
(24,300)
(24,300)
52,264
126,680
178,944		 31.3.21
£
9,535
(1,303)
8,232
(16,321)
35
(16,286)
50,000
(8,751)
41,249
33,195
93,485
126,680

The notes form part of these financial statements

Page 11

Rio Centre (Dalston) Limited(The)

Notes to the Cash Flow Statement for the Year Ended 31 March 2022

1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net income/(expenditure) for the reporting period (as per the
Statement of Financial Activities)
Adjustments for:
Depreciation charges
Interest received
Interest paid
(Increase)/decrease in stocks
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Net cash provided by operations		 31.3.22
£
93,717
52,613
(14)
1,255
(5,175)
(15,993)
15,275
141,678		 31.3.21
£
(43,587)
49,472
(35)
1,303
9,189
33,424
(40,231)
9,535

2. ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.21 Cash flow At 31.3.22
£ £ £
Net cash
Cash at bank and in hand 126,680 52,264 178,944
126,680 52,264 178,944
Debt
Debts falling due within 1 year (23,825) 11,177 (12,648)
Debts falling due after 1 year (59,770) 12,650 (47,120)
(83,595) 23,827 (59,768)
Total 43,085 76,091 119,176

The notes form part of these financial statements

Page 12

Rio Centre (Dalston) Limited(The)

Notes to the Financial Statements for the Year Ended 31 March 2022

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, 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 Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income

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

Expenditure

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold - at varying rates on cost Fixtures and fittings - 10% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

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

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

continued...

Page 13

Rio Centre (Dalston) Limited(The)

Notes to the Financial Statements - continued for the Year Ended 31 March 2022

2. DONATIONS AND LEGACIES

Donations
Gift aid
Government grants
Grants received, included in the above, are as follows:
Coronovirus Job Retention Scheme
LB Hackney Omicron
3.
INVESTMENT INCOME
Deposit account interest
4.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Film takings
Cinema
Bar & confectionary takings
Cinema
Display & screen advertising
Cinema
Hire, booking fees etc
Cinema
Other grants
Cinema
Grants received, included in the above, are as follows:
Film London
Architechural Heritage Fund
British Film Institute
London Borough of Hackney
Bells Whiskey		 31.3.22
£
24,797
-
34,822
59,619
31.3.22
£
30,822
4,000
34,822
31.3.22
£
14
31.3.22
£
471,261
148,576
23,584
77,282
132,652
853,355
31.3.22
£
-
19,500
84,452
27,700
1,000
132,652		 31.3.21
£
45,886
3,580
201,903
251,369
31.3.21
£
201,903
-
201,903
31.3.21
£
35
31.3.21
£
90,802
23,037
4,134
38,694
132,994
289,661
31.3.21
£
17,794
7,500
66,178
41,522
-
132,994

continued...

Page 14

Rio Centre (Dalston) Limited(The)

Notes to the Financial Statements - continued for the Year Ended 31 March 2022

5. RAISING FUNDS

Raising donations and legacies
31.3.22 31.3.21
£ £
Film royalties 214,155 52,819
Confectionary costs 7,125 2,740
Bar costs 48,780 16,144
Mags & merchandise 2,553 10,143
272,613 81,846
Other trading activities
31.3.22 31.3.21
£ £
Film royalties 1,200 -
Aggregate amounts 273,813 81,846
6. CHARITABLE ACTIVITIES COSTS
Support
Direct costs (see
Costs note 7) Totals
£ £ £
Cinema 646,277 15,173 661,450
7. SUPPORT COSTS
Governance
Finance costs Totals
£ £ £
Cinema 10,373 4,800 15,173
8. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
31.3.22 31.3.21
£ £
Auditors' remuneration 4,800 3,805
Depreciation - owned assets 52,140 49,472
Hire of plant and machinery 22,959 4,350
Other operating leases 12,465 6,706

Page 15

continued...

Rio Centre (Dalston) Limited(The)

Notes to the Financial Statements - continued for the Year Ended 31 March 2022

9. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021.

10. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Film production staff
No employees received emoluments in excess of £60,000.
11.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
251,369
Charitable activities
Cinema
289,661
Investment income
35
Other income
12,712
Total
553,777
EXPENDITURE ON
Raising funds
81,846
Charitable activities
Cinema
497,153
Total
578,999
NET INCOME/(EXPENDITURE)
(25,222)
RECONCILIATION OF FUNDS
Total funds brought forward
122,857		 31.3.22
£
378,245
17,817
9,879
405,941
31.3.22
30
Restricted
funds
£
-
-
-
-
-
-
18,365
18,365
(18,365)
245,541		 31.3.21
£
346,271
14,402
8,372
369,045
31.3.21
25
Total
funds
£
251,369
289,661
35
12,712
553,777
81,846
515,518
597,364
(43,587)
368,398

Page 16

continued...

Rio Centre (Dalston) Limited(The)

Notes to the Financial Statements - continued for the Year Ended 31 March 2022

11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted Restricted Total
funds funds funds
£ £ £
TOTAL FUNDS CARRIED FORWARD 97,635 227,176 324,811
12. TANGIBLE FIXED ASSETS
Fixtures
Short and
leasehold fittings Totals
£ £ £
COST
At 1 April 2021 389,580 707,397 1,096,977
Additions - 63,873 63,873
At 31 March 2022 389,580 771,270 1,160,850
DEPRECIATION
At 1 April 2021 205,181 546,727 751,908
Charge for year 11,400 40,740 52,140
At 31 March 2022 216,581 587,467 804,048
NET BOOK VALUE
At 31 March 2022 172,999 183,803 356,802
At 31 March 2021 184,399 160,670 345,069
13. STOCKS
31.3.22 31.3.21
£ £
Stocks 7,011 1,836
14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£ £
Trade debtors 7,305 1,227
Other debtors 3,190 3,745
Accrued income 8,500 -
Prepayments 6,494 4,524
25,489 9,496

continued...

Page 17

Rio Centre (Dalston) Limited(The)

Notes to the Financial Statements - continued for the Year Ended 31 March 2022

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22
£
Bank loans and overdrafts (see note 17)
10,648
Other loans (see note 17)
2,000
Trade creditors
51,693
Social security and other taxes
9,028
VAT
1,228
Other creditors
10,846
Accruals and deferred income
10,000
Accrued expenses
7,155
102,598
16.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.22
£
Bank loans (see note 17)
33,787
Other loans (see note 17)
13,333
47,120
17.
LOANS
An analysis of the maturity of loans is given below:
31.3.22
£
Amounts falling due within one year on demand:
Bank loans
10,648
Other loans
2,000
12,648
Amounts falling between one and two years:
Bank loans - 1-2 years
10,648
Other loans - 1-2 years
2,000
12,648
Amounts falling due between two and five years:
Bank loans - 2-5 years
23,138
Other loans - 2-5 years
6,000
29,138
Amounts falling due in more than five years:
Repayable by instalments:
Bank loans more 5 yr by instal
1
Other loans more 5yrs instal
5,333
5,334		 31.3.21
£
21,825
2,000
28,864
7,698
25,740
8,568
-
3,805		 31.3.21
£
21,825
2,000
28,864
7,698
25,740
8,568
-
3,805
98,500
31.3.21
£
44,437
15,333
59,770
31.3.21
£
21,825
2,000
23,825
10,648
2,000
12,648
31,945
6,000
37,945
1,844
7,333
9,177
23,825
10,648
2,000
12,648
31,945
6,000
37,945
1,844
7,333
9,177

continued...

Page 18

Rio Centre (Dalston) Limited(The)

Notes to the Financial Statements - continued for the Year Ended 31 March 2022

18. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

Within one year
19.
MOVEMENT IN FUNDS
Unrestricted funds
General fund
RioGeneration Fund
Restricted funds
Revaluation Reserve
RioGeneration Fund
TOTAL FUNDS
Net movement in funds, included in the above are as
Unrestricted funds
General fund
RioGeneration Fund
Restricted funds
Revaluation Reserve
RioGeneration Fund
TOTAL FUNDS		 At 1.4.21
£
10,881
86,754
97,635
184,399
42,777
227,176
324,811
follows:		 Net
movement
in funds
£
125,188
(13,106)
112,082
(11,400)
(6,965)
(18,365)
93,717
Incoming
resources
£
1,028,980
-
1,028,980
-
-
-
1,028,980		 31.3.22
£
6,733
Transfers
between
funds
£
(19,598)
(86,754)
(106,352)
19,598
86,754
106,352
-
Resources
expended
£
(903,792)
(13,106)
(916,898)
(11,400)
(6,965)
(18,365)
(935,263)		 31.3.21
£
-
At
31.3.22
£
116,471
(13,106)
103,365
192,597
122,566
315,163
418,528
Movement
in funds
£
125,188
(13,106)
112,082
(11,400)
(6,965)
(18,365)
93,717

continued...

Page 19

Rio Centre (Dalston) Limited(The)

Notes to the Financial Statements - continued for the Year Ended 31 March 2022

19. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
General fund
RioGeneration Fund
Restricted funds
Revaluation Reserve
RioGeneration Fund
TOTAL FUNDS		 At 1.4.20
£
22,996
99,861
122,857
195,799
49,742
245,541
368,398		 Net
movement
in funds
£
(12,115)
(13,107)
(25,222)
(11,400)
(6,965)
(18,365)
(43,587)		 At
31.3.21
£
10,881
86,754
97,635
184,399
42,777
227,176
324,811

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
RioGeneration Fund
Restricted funds
Revaluation Reserve
RioGeneration Fund
TOTAL FUNDS		 Incoming
resources
£
553,777
-
553,777
-
-
-
553,777		 Resources
Movement
expended
in funds
£
£
(565,892)
(12,115)
(13,107)
(13,107)
(578,999)
(25,222)
(11,400)
(11,400)
(6,965)
(6,965)
(18,365)
(18,365)
(597,364)
(43,587)		 Resources
Movement
expended
in funds
£
£
(565,892)
(12,115)
(13,107)
(13,107)
(578,999)
(25,222)
(11,400)
(11,400)
(6,965)
(6,965)
(18,365)
(18,365)
(597,364)
(43,587)
(25,222)
(11,400)
(6,965)
(18,365)
(43,587)

continued...

Page 20

Rio Centre (Dalston) Limited(The)

Notes to the Financial Statements - continued for the Year Ended 31 March 2022

19. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
RioGeneration Fund
Restricted funds
Revaluation Reserve
RioGeneration Fund
TOTAL FUNDS		 At 1.4.20
£
22,996
99,861
122,857
195,799
49,742
245,541
368,398		 Net
movement
in funds
£
113,073
(26,213)
86,860
(22,800)
(13,930)
(36,730)
50,130		 Transfers
between
funds
£
(19,598)
(86,754)
(106,352)
19,598
86,754
106,352
-		 At
31.3.22
£
116,471
(13,106)
103,365
192,597
122,566
315,163
418,528

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
RioGeneration Fund
Restricted funds
Revaluation Reserve
RioGeneration Fund
TOTAL FUNDS		 Incoming
resources
£
1,582,757
-
1,582,757
-
-
-
1,582,757		 Resources
expended
£
(1,469,684 )
(26,213)
(1,495,897 )
(22,800)
(13,930)
(36,730)
(1,532,627 )		 Movement
in funds
£
113,073
(26,213)
86,860
(22,800)
(13,930)
(36,730)
50,130

20. RELATED PARTY DISCLOSURES

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

Page 21

Rio Centre (Dalston) Limited(The)

Detailed Statement of Financial Activities for the Year Ended 31 March 2022

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Gift aid
Government grants
Investment income
Deposit account interest
Charitable activities
Film takings
Bar & confectionary takings
Display & screen advertising
Hire, booking fees etc
Other grants
Other income
Other income
Consultancy income
Insurance payout
Total incoming resources
EXPENDITURE
Raising donations and legacies
Film royalties
Confectionary costs
Bar costs
Mags & merchandise
Other trading activities
Film royalties
Charitable activities
Wages
Social security
Pensions
Hire of plant and machinery
Other operating leases
Carried forward		 31.3.22
£
24,797
-
34,822
59,619
14
471,261
148,576
23,584
77,282
132,652
853,355
28,322
25,000
62,670
115,992
1,028,980
214,155
7,125
48,780
2,553
272,613
1,200
378,245
17,817
9,879
22,959
12,465
441,365		 31.3.21
£
45,886
3,580
201,903
251,369
35
90,802
23,037
4,134
38,694
132,994
289,661
43
700
11,969
12,712
553,777
52,819
2,740
16,144
10,143
81,846
-
346,271
14,402
8,372
4,350
6,706
380,101

This page does not form part of the statutory financial statements

Page 22

Rio Centre (Dalston) Limited(The)

Detailed Statement of Financial Activities for the Year Ended 31 March 2022

Charitable activities
Brought forward
Rates and water
Insurance
Light and heat
Telephone
Postage and stationery
Advertising
Sundries
Repairs & maintenance
Cleaning
IT software & consumables
Consulting
Training
Subscriptions
Short leasehold depreciation
Fixtures & fittings depreciation
Bank interest
Support costs
Finance
Bank charges
Governance costs
Auditors' remuneration
Total resources expended
Net income/(expenditure)		 31.3.22
£
441,365
5,238
13,037
13,523
5,735
2,974
2,885
33,209
48,351
8,463
3,449
3,333
2,409
8,438
11,400
41,213
1,255
646,277
10,373
4,800
935,263
93,717		 31.3.21
£
380,101
4,235
13,225
9,617
5,325
5,663
1,048
5,104
22,428
6,177
2,183
-
-
1,099
11,400
38,072
1,303
506,980
4,733
3,805
597,364
(43,587)

This page does not form part of the statutory financial statements

Page 23