**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
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charity SORP;
- make judgements and estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
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:
- there is no relevant audit information of which the charitable company's auditors are unaware; and
- the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.
## **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:
- give a true and fair view of the state of the charitable company's affairs as at 31 March 2022 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **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:
- the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the Trustees has been prepared in accordance with applicable legal requirements.
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:
- adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of trustees' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees.
## **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