| Page | ||||
|---|---|---|---|---|
| Reference and Administrative Details |
||||
| Report ofthe Trustees | 2 | to | 4 | |
| Report ofthe Independent Auditors |
5 | to | 7 | |
| Statement ofFinancial | Activities | |||
| Balance Sheet | ||||
| Cash Flow Statement | 10 | |||
| Notes to the Cash Flow Statement | ||||
| Notes to the Financial | Statements | 12 | to | 20 |
| Detailed Statement of | Financial Activities | 21 | to | 22 |
| TRUSTEES | Ms S Chorley |
|---|---|
| A Andrews | |
| Ms TSAndrews | |
| GRBinette Deputy chair | |
| Ms A LFClark Treasurer | |
| MsFM Johnston | |
| RKirwan | |
| Ms SH M Robertson | |
| RSRuprai Chair | |
| COMPANY SECRETARY | PLyons |
| REGISTERED OFFICE | 107Kingsland High Street |
| London | |
| E82PB | |
| REGISTERED COMPANY | 01409066(England and Wales) |
| NUMBER | |
| REGISTERED CHARITY | 277415 |
| NUMBER |
| AUDITORS | Ark Accountancy |
|---|---|
| Chartered Certified Accountant & |
|
| Statutory Auditor | |
| 31Cheam Road | |
| Epsom | |
| Surrey | |
| KT17 1QX | |
| SOLICITORS | Dechert LLP |
| 160Queen Victoria Street | |
| London EC4V4QQ |
| for the Yea | r Ended | 31 | March 2023 | |||||
|---|---|---|---|---|---|---|---|---|
| 31.3.23 | 31.3.22 | |||||||
| Unrestricted | Restricted | Total | Total | |||||
| funds | funds | funds | funds | |||||
| Notes | ||||||||
| INCOME | AND ENDOWMENTS FROM | |||||||
| Donations | and legacies | 23,937 | 23,937 | 59,619 | ||||
| Charitable | activities | |||||||
| Cinema | 851,254 | 851,254 | 853,355 | |||||
| Investment | income | 537 | 537 | 14 | ||||
| Other income | 60,315 | 60,315 | 115,992 | |||||
| Total | 936,043 | 936,043 | 1,028,980 | |||||
| EXPENDITURE | ON | |||||||
| Raising funds | 225,474 | 225,474 | 273,813 | |||||
| Charitable | activities | |||||||
| Cinema | 723,811 | 18,365 | 742,176 | 661,450 | ||||
| Total | 949,285 | 18,365 | 967,650 | 935,263 | ||||
| NET INCOME/(EXPENDITURE) | (13,242) | (18,365) | (31,607) | 93,717 | ||||
| RECONCILIATION | OF FUNDS | |||||||
| Total funds | brought | forward | 103,365 | 315,163 | 418,528 | 324,811 | ||
| TOTAL FUNDS CARRIED FORWARD | 90,123 | 296,798 | 386,921 | 41&,528 |
| Balance Sheet 31March 2023 |
|||||
|---|---|---|---|---|---|
| 31.3.23 | 31.3.22 | ||||
| Unrestricted | Restricted | Total | Total | ||
| funds | funds | funds | funds | ||
| Notes | |||||
| FIXEDASSETS | |||||
| Tangible assets | 13 | 119,651 | 277,200 | 396,851 | 356,802 |
| CURRENT ASSETS | |||||
| Stocks | 14 | 5,352 | 5,352 | 7,011 | |
| Debtors | 15 | 45,577 | 45,577 | 25,489 | |
| Cash at bank and in hand | 71,437 | 19,598 | 91„035 | 178,944 | |
| 122,366 | 19,598 | 141,964 | 211,444 | ||
| CREDITORS | |||||
| Amounts falling due within one year |
16 | (117,150) | (117,150) | (102,598) | |
| NET CURRENT ASSETS | 5,216 | 19,598 | 24,814 | 108,846 | |
| TOTAL ASSETSLESSCURRENT | |||||
| LIABILITIES | 124,867 | 296,798 | 421,665 | 465,648 | |
| CREDITORS | |||||
| Amounts falling due after more than one year |
17 | (34,744) | (34,744) | (47,120) | |
| NET ASSETS | 90,123 | 296,798 | 386,921 | 418,528 | |
| FUNDS | 20 | ||||
| Unrestricted funds |
90,123 | 103,365 | |||
| Restricted funds | 296,798 | 315,163 | |||
| TOTAL FUNDS | 386,921 | 418,528 |
| Cash Flow Statement | ||||||
|---|---|---|---|---|---|---|
| for the Year Ended 31March 2023 | ||||||
| 31.3.23 | 31.3.22 | |||||
| Notes | ||||||
| Cash flows from operating | activities | |||||
| Cash generated from operations |
27,871 | 141,678 | ||||
| Interest paid | (274) | (1,255) | ||||
| Net cash provided by operating activities |
27,597 | 140,423 | ||||
| Cash flows from investing | activities | |||||
| Purchase oftangible fixed | assets | (103,667) | (63,873) | |||
| Interest received | 537 | 14 | ||||
| Net cash used in investing | activities | (103,130) | (63,859) | |||
| Cash flows from financing | activities | |||||
| Loan repayments in year |
(12,376) | (24,300) | ||||
| Net cash used in financing | activities | (12,376) | (24,300) | |||
| Change in cash and cash | equivalents | in | ||||
| the reporting period |
(87,909) | 52,264 | ||||
| Cash and cash equivalents | at the | |||||
| beginning ofthe reporting |
period | 178,944 | 126,680 | |||
| Cash and cash equivalents | at the end | of | ||||
| the reporting period |
91,035 | 178,944 |
| 31.3.23 | 31.3.22 | ||||||
|---|---|---|---|---|---|---|---|
| Net (expenditure)/income | for the reporting | period (as per the | |||||
| Statement ofFinancial | Activities) | (31,607) | 93,717 | ||||
| Adjustments | for: | ||||||
| Depreciation | charges | 63,618 | 52,613 | ||||
| Interest received | (537) | (14) | |||||
| Interest paid | 274 | 1,255 | |||||
| Decrease/(increase) | in stocks | 1,659 | (5,175) | ||||
| Increase in debtors | (20,088) | (15,993) | |||||
| Increase in creditors | 14,552 | 15,275 | |||||
| Net cash provided | by operations | 27,871 | 141,678 | ||||
| ANALYSIS | OF CHANGES IN NET FUNDS | ||||||
| At 1.4.22 | Cash flow | At 31.3.23 | |||||
| Net cash | |||||||
| Cash at bank | and in | hand | 178,944 | (87,909) | 91,035 | ||
| 178,944 | (87,909) | 91,035 | |||||
| Debt | |||||||
| Debts falling | due within | 1year | (12,648) | (12,648) | |||
| Debts falling | due after 1 | year | (47,120) | 12,376 | (34,744) | ||
| (59,768) | 12,376 | (47,392) | |||||
| Total | 119,176 | (75,533) | 43,643 |
| 2. | DONATIONS AND LEGACIES |
DONATIONS AND LEGACIES |
DONATIONS AND LEGACIES |
||
|---|---|---|---|---|---|
| 31.3.23 | 31.3.22 | ||||
| Donations | 23,937 | 24,797 | |||
| Government grants |
34,822 | ||||
| 23,937 | 59,619 | ||||
| Grants received, included | in the above, are as follows: | ||||
| 31.3.23 | 31.3.22 | ||||
| Coronovirus Job Retention |
Scheme | 30,822 | |||
| LBHackney Omicron | 4,000 | ||||
| 34,822 | |||||
| 3. | INVESTMENT INCOME | ||||
| 31.3.23 | 31.3.22 | ||||
| Deposit account interest | 537 | 14 | |||
| INCOME FROM CHARITABLE ACTIVITIES | |||||
| 31.3.23 | 31.3.22 | ||||
| Activity | |||||
| Film takings | Cinema | 432,146 | 471,261 | ||
| Bar 8cconfectionary takings |
Cinema | 166,045 | 148,576 | ||
| Display &screen advertising | Cinema | 19,599 | 23,584 | ||
| Hire, booking fees etc | Cinema | 102,094 | 77,282 | ||
| Other grants | Cinema | 131,370 | 132,652 | ||
| 851,254 | 853,355 | ||||
| Grants received, included | in the above, are as follows: | ||||
| 31.3.23 | 31.3.22 | ||||
| Architechural Heritage Fund |
19,500 | ||||
| British Film Institute | 108,246 | 84,452 | |||
| London Borough ofHackney | 11,214 | 27,700 | |||
| Bells Whiskey | 1,000 | ||||
| Notts Media Centre | 6,650 | ||||
| FilmLondon | 5,260 | ||||
| 131,370 | 132,652 |
| 5. | RAISING | FUNDS | FUNDS | |||||
|---|---|---|---|---|---|---|---|---|
| Raising donations | and legacies | |||||||
| 31.3.23 | 31.3.22 | |||||||
| Film royalties | 160,376 | 214,155 | ||||||
| Confectionary | costs | 13,396 | 7,125 | |||||
| Bar costs | 51,702 | 48,780 | ||||||
| Mags &merchandise | 2,553 | |||||||
| 225,474 | 272,613 | |||||||
| Other trading | activities | |||||||
| 31.3.23 | 31.3.22 | |||||||
| Film royalties | 1„200 | |||||||
| Aggregate | amounts | 225,474 | 273,813 | |||||
| 6. | CHARITABLE ACTIVITIES COSTS | |||||||
| Grant | ||||||||
| funding of | ||||||||
| activities | Support | |||||||
| Direct | (see note | costs (see | ||||||
| Costs | 7) | note 8) | Totals | |||||
| Cinema | 728,225 | 3,155 | 10,796 | 742,176 | ||||
| 7. | GRANTS | PAYABLE | ||||||
| 31.3.23 | 31.3.22 | |||||||
| Cinema | 3,155 | |||||||
| 8. | SUPPORT | COSTS | ||||||
| Governance | ||||||||
| Finance | costs | Totals | ||||||
| Cinema | 5,926 | 4,870 | 10,796 |
| 31.3.23 | 31.3.22 | |
|---|---|---|
| Auditors' remuneration |
4,800 | 4,800 |
| Depreciation - owned assets | 63,618 | 52,140 |
| Hire ofplant and machinery | 13,260 | 22,959 |
| Other operating leases |
11,500 | 12,465 |
| STAFFCOSTS | |||||
|---|---|---|---|---|---|
| 31.3.23 | 31.3.22 | ||||
| Wages and salaries | 415,156 | 378,245 | |||
| Social security costs | 24,481 | 17,817 | |||
| Other pension costs | 10,577 | 9,879 | |||
| 450,214 | 405,941 | ||||
| The average monthly | number ofemployees | during the year was as follows: | |||
| 31.3.23 | 31.3.22 | ||||
| Film production staff |
29 | 30 | |||
| No employees received emoluments |
in excess off60,000. | ||||
| COMPARATIVES | FORTHE STATEMENT OFFINANCIAL ACTIVITIES | ||||
| Unrestricted | Restricted | Total | |||
| funds | funds | funds | |||
| INCOME AND ENDOWMENTS | FROM | ||||
| Donations and legacies |
59,619 | 59,619 | |||
| Charitable activities |
|||||
| Cinema | 853,355 | 853,355 | |||
| Investment income |
14 | 14 | |||
| Other income | 115,992 | 115,992 | |||
| Total | 1,028,980 | 1,028,980 | |||
| EXPENDITURE ON | |||||
| Raising funds | 273,813 | 273,813 |
| 12. | COMPARATIVES FORTHE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FORTHE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FORTHE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FORTHE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FORTHE STATEMENT OF FINANCIAL ACTIVITIES - continued | |
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | ||||
| funds | funds | funds | ||||
| E | ||||||
| Charitable activities |
||||||
| Cinema | 643,085 | 18,365 | 661,450 | |||
| Total | 916,898 | 18,365 | 935,263 | |||
| NET INCOME/(EXPENDITURE) | 112,082 | (18,365) | 93,717 | |||
| Transfers between | funds | (106,352) | 106,352 | |||
| Net movement in funds |
5,730 | 87,987 | 93,717 | |||
| RECONCILIATION | OF FUNDS | |||||
| Total funds brought | forward | 97,635 | 227,176 | 324,811 | ||
| TOTAL FUNDS CARRIED FORWARD | 103,365 | 315,163 | 418,528 | |||
| 13. | TANGIBLE FIXED | ASSETS | ||||
| Fixtures | ||||||
| Short | and | |||||
| leasehold | fittings | Totals | ||||
| COST | ||||||
| At 1 April 2022 | 389,580 | 771,270 | 1,160,850 | |||
| Additions | 103,667 | 103,667 | ||||
| At 31March 2023 | 389,580 | 874,937 | 1,264,517 | |||
| DEPRECIATION | ||||||
| At 1 April 2022 | 216,581 | 587,467 | 804,048 | |||
| Charge for year | 11,400 | 52,218 | 63,618 | |||
| At 31March 2023 | 227„981 | 639,685 | 867,666 | |||
| NET BOOKVALUE | ||||||
| At 31March 2023 | 161,599 | 235,252 | 396,851 | |||
| At 31March 2022 | 172,999 | 183,803 | 356,802 |
| 14. | STOCKS | |||
|---|---|---|---|---|
| 31.3.23 | 31.3.22 | |||
| Stocks | 5,352 | 7,011 | ||
| 15. | DEBTORS:AMOUNTS | FALLING DUE WITHIN ONE YEAR | ||
| 31.3.23 | 31.3.22 | |||
| Trade debtors | 24,766 | 7,305 | ||
| Other debtors | 12,816 | 3,190 | ||
| Accrued income | 7,500 | 8,500 | ||
| Prepayments | 495 | 6,494 | ||
| 45,577 | 25,489 | |||
| 16. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 31.3.23 | 31.3.22 | |||
| Bank loans and overdrafts | (seenote 18) | 10,648 | 10,648 | |
| Other loans (see note 18) | 2,000 | 2,000 | ||
| Trade creditors | 51,389 | 51,693 | ||
| Social security and other taxes | 9,960 | 9,028 | ||
| VAT | 27,110 | 1,228 | ||
| Other creditors | 7,243 | 10,846 | ||
| Accruals and deferred income | 10,000 | |||
| Accrued expenses | 8,800 | 7,155 | ||
| 117,150 | 102,598 | |||
| 17. | CREDITORS: AMOUNTS FALLING DUE AFTERMORE THAN ONE YEAR | |||
| 31.3.23 | 31.3.22 | |||
| Bank loans (see note 18) | 23,411 | 33,787 | ||
| Other loans (see note 18) | 11,333 | 13,333 | ||
| 34,744 | 47,120 | |||
| 18. | LOANS | |||
| An analysis ofthe maturity | ofloans is given below: | |||
| 31.3.23 | 31.3.22 | |||
| Amounts falling due within |
one year on demand: | |||
| Bank loans | 10,648 | 10,648 | ||
| Other loans | 2,000 | 2,000 | ||
| 12,648 | 12,648 |
| LOANS - continued | ||||||
|---|---|---|---|---|---|---|
| 31.3.23 | 31.3.22 | |||||
| Amounts falling between |
one and two years: | |||||
| Bank loans - 1-2years | 10,648 | 10,648 | ||||
| Other loans - 1-2years | 2,000 | 2,000 | ||||
| 12,648 | 12„648 | |||||
| Amounts falling due between two and five years: |
||||||
| Bank loans - 2-5years | 10,648 | 23,138 | ||||
| Other loans - 2-5years | 6,000 | 6,000 | ||||
| 16,648 | 29,138 | |||||
| Amounts falling due in more than five years: |
||||||
| Repayable by instalments: | ||||||
| Bank loans more 5yr by | instal | 2,115 | 1 | |||
| Other loans more 5yrs instal | 3,333 | 5,333 | ||||
| 5,448 | 5,334 | |||||
| LEASING AGREEMENTS | ||||||
| Minimum lease payments |
under non-cancellable | operating | leases fall due as follows: | |||
| 31.3.23 | 31.3.22 | |||||
| Within one year | 6,733 | |||||
| MOVEMENT IN FUNDS | ||||||
| Net | Transfers | |||||
| movement | between | At | ||||
| At 1.4.22 | in funds | funds | 31.3.23 | |||
| Unrestricted funds |
||||||
| General fund | 116,471 | (136) | (26,212) | 90,123 | ||
| RioGeneration Fund |
(13,106) | (13,106) | 26,212 | |||
| 103,365 | (13,242) | 90,123 | ||||
| Restricted funds | ||||||
| Revaluation Reserve |
192,597 | (11,400) | 181,197 | |||
| RioGeneration Fund |
122,566 | (6,965) | 115,601 | |||
| 315,163 | (18,365) | 296,798 | ||||
| TOTAL FUNDS | 418,528 | (31,607) | 386,921 |
| 20. | Within one year MOVEMENT IN FUNDS |
|---|---|
| Incoming | Resources | Movement | ||||
|---|---|---|---|---|---|---|
| resources | expended | in funds | ||||
| Unrestricted | funds | |||||
| General fund | 936,043 | (936,179) | (136) | |||
| RioGeneration | Fund | (13,106) | (13,106) | |||
| 936,043 | (949,285) | (13,242) | ||||
| Restricted funds | ||||||
| Revaluation Reserve |
(11,400) | (11,400) | ||||
| RioGeneration | Fund | (6,965) | (6,965) | |||
| (18,365) | (18,365) | |||||
| TOTAL FUNDS | 936,043 | (967,650) | (31„607) | |||
| Comparatives | for movement | in funds | ||||
| Net | Transfers | |||||
| movement | between | At | ||||
| At 1.4.21 | in funds | funds | 31.3.22 | |||
| Unrestricted | funds | |||||
| General fund | 10,881 | 125,188 | (19,598) | 116,471 | ||
| RioGeneration | Fund | 86,754 | (13,106) | (86,754) | (13,106) | |
| 97,635 | 112,082 | (106,352) | 103,365 | |||
| Restricted funds | ||||||
| Revaluation Reserve |
184,399 | (11,400) | 19,598 | 192,597 | ||
| RioGeneration | Fund | 42,777 | (6,965) | 86,754 | 122,566 | |
| 227,176 | (18,365) | 106,352 | 315,163 | |||
| TOTAL FUNDS | 324,811 | 93,717 | 418,528 |
| Incoming | Resources | Movement | |||
|---|---|---|---|---|---|
| resources | expended | in funds | |||
| f. | |||||
| Unrestricted | funds | ||||
| General fund | 1,028,980 | (903,792) | 125,188 | ||
| RioGeneration | Fund | (13,106) | (13,106) | ||
| 1,028,980 | (916,898) | 112,082 | |||
| Restricted funds | |||||
| Revaluation | Reserve | (11,400) | (11,400) | ||
| RioGeneration | Fund | (6,965) | (6,965) | ||
| (18,365) | (18,365) | ||||
| TOTAL FUNDS | 1,028,980 | (935,263) | 93,717 |
| Detailed Statement | ofFinancial Activities | ||
|---|---|---|---|
| for the Year Ended | 31March 2023 | ||
| 31.3.23 | 31.3.22 | ||
| INCOME AND ENDOWMENTS | |||
| Donations and legacies |
|||
| Donations | 23,937 | 24,797 | |
| Government grants |
34,822 | ||
| 23,937 | 59,619 | ||
| Investment income |
|||
| Deposit account interest | 537 | 14 | |
| Charitable activities |
|||
| Film takings | 432,146 | 471,261 | |
| Bar&confectionary | takings | 166,045 | 148,576 |
| Display &screen advertising | 19,599 | 23,584 | |
| Hire, booking fees etc | 102,094 | 77,282 | |
| Other grants | 131,370 | 132,652 | |
| 851,254 | 853,355 | ||
| Other income | |||
| Other income | 16,056 | 28,322 | |
| Consultancy income |
43,000 | 25,000 | |
| Insurance payout | 1,259 | 62,670 | |
| 60,315 | 115,992 | ||
| Total incoming resources |
936,043 | 1,028,980 | |
| EXPENDITURE | |||
| Raising donations | and legacies | ||
| Film royalties | 160,376 | 214,155 | |
| Confectionary costs |
13,396 | 7,125 | |
| Barcosts | 51,702 | 48,780 | |
| Mags &merchandise | 2,553 | ||
| 225,474 | 272,613 | ||
| Other trading activities |
|||
| Film royalties | 1,200 | ||
| Charitable activities |
|||
| Wages | 415,156 | 378,245 | |
| Social security | 24,481 | 17,817 | |
| Pensions | 10,577 | 9,879 | |
| Hire ofplant and machinery | 13,260 | 22,959 | |
| Other operating leases |
11,500 | 12,465 | |
| Carried forward | 474,974 | 441,365 |
| Detailed Statement ofFinancial Activities | Detailed Statement ofFinancial Activities | ||
|---|---|---|---|
| for the Year Ended 31March 2023 | |||
| 31.3.23 | 31.3.22 | ||
| Charitable activities |
|||
| Brought forward | 474,974 | 441,365 | |
| Rates and water | 4,524 | 5,238 | |
| Insurance | 17,199 | 13,037 | |
| Light and heat | 13,807 | 13,523 | |
| Telephone | 7,572 | 5,735 | |
| Postage and stationery | 3,210 | 2,974 | |
| Advertising | 4,985 | 2,885 | |
| Sundries | 43,900 | 33,209 | |
| Repairs &maintenance | 53,590 | 48,351 | |
| Cleaning | 11,062 | 8,463 | |
| ITsoftware & | consumables | 8,317 | 3,449 |
| Card fees | 6,988 | ||
| Consulting | 7,388 | 3,333 | |
| Training | 169 | 2,409 | |
| Subscriptions | 6,648 | 8,438 | |
| Short leasehold | depreciation | 11,400 | 11,400 |
| Fixtures &fittings depreciation | 52,218 | 41,213 | |
| Bank interest | 274 | 1,255 | |
| Grants to individuals | 3,155 | ||
| 731,380 | 646,277 | ||
| Support costs | |||
| Finance | |||
| Bank charges | 5,926 | 10,373 | |
| Governance | costs | ||
| Auditors' remuneration |
4,800 | 4,800 | |
| Legal fees | 70 | ||
| 4,870 | 4,800 | ||
| Total resources | expended | 967,650 | 935,263 |
| Net (expenditure)/income | (31,607) | 93,717 |