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2024-03-31-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 2024

for

Rio Centre (Dalston) Limited(The)

Ark Accountancy Limited 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 2024

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 20
Detailed Statement of Financial Activities 21 to 22

Rio Centre (Dalston) Limited(The)

Reference and Administrative Details for the Year Ended 31 March 2024

TRUSTEES Ms S Chorley A Andrews (resigned 9.7.24) Ms T S Andrews (resigned 4.7.23) 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 (resigned 24.7.23) 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 Limited Chartered Certified Accountant & Statutory Auditor 31 Cheam Road Epsom Surrey KT17 1QX

Page 1

Rio Centre (Dalston) Limited(The)

Report of the Trustees for the Year Ended 31 March 2024

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 2024. 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 Interim Executive Director, Tim Stevens, who replaced Oliver Meek following his decision to stand down after nearly a decade in the role. The Rio has a workforce of nearly 30 and 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, and its wide-ranging and varied programme typically presents approximately 1,300 screenings annually incorporating: main feature films, programmes for children and older people, special events, festivals and independent films. The Rio provides a focal point for the area along with 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.

The Advancement Of Education

The Rio's extensive programme of schools screenings provides an invaluable adjunct to the classwork in local schools and is viewed by teachers as a significant educational resource.

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 2024

Report of the Trustees

ACHIEVEMENT AND PERFORMANCE

Charitable activities

The year presented considerable financial and operational difficulties for the Rio, though these were hardly unique in the cinema sector as a whole. The Board reacted promptly and decisively to mitigate challenges, balancing cost reduction with income generation. With the start of an intensive recruitment process for a permanent new Executive Director, and transition to a leaner operating model, the year can be characterised as one of transition and setting the stage for improved performance next year.

Charitable activities

The charity maintained its core activity is screening films seven days a week as one of only two independent cinemas in Hackney - and as the largest and most affordable cinema in one of London's largest inner-city boroughs. It managed to preserve affordability in its pricing structure across the week, offering everything from £5 tickets to Hackney library card holders to discount codes for local community groups and £2.50 tickets for our ever-popular "classic matinee" for seniors, which also includes free tea and biscuits.

At the same time, the Rio continued to offer a film programme that is second to none: international and specialised. Highlights included Barbie and Oppenheimer which generated record attendance and food and beverage revenue during summer 2023. Poor Things, Priscilla, and All of Us Strangers performed well in January and February 2024. We also hosted the London Short Film Festival, Doc N Roll Film Festival, and Fringe! Queer Film and Arts Fest as well as many other curated clubs and special events.

Staffing

After nearly a decade of leading the cinema, Executive Director Oliver Meek, tendered his resignation in October. The Board agreed a long transition period with Mr Meek and he continued to act as senior management until February. During this time he conducted an extensive hand over to Interim Executive Director, Tim Stevens. Tim has a long history of working at the Rio and took over leadership of the cinema from January 2024, overseeing financial performance, regular programming and summer special events, while also preparing for the new Executive Director.

In December, the Board began recruitment for a new Executive Director. Advertisements were posted in local and national outlets on 9 January and 29 applications were received. The first interview stage took place the week of 18 March 2024 with second interviews in the week of 10 April 2024. After final interviews at the beginning of May, the Board offered the position to Rosie Greatorex and her contract was signed at the end of that month. Ms Greatorex was the Executive Director of the Lexi, an independent community cinema based in North West London. She started work at the Rio in September and took over from Interim Executive Director Tim Stevens.

The Board's Staffing Subcommittee met with staff regularly through these changes and engaged with staff concerns driven by poor trading conditions, the SAG-AFTRA industrial action and leadership transition. Throughout this period, the Board sought external HR support to assist with restructuring and cultural change.

Page 3

Rio Centre (Dalston) Limited(The)

for the Year Ended 31 March 2024

Report of the Trustees

FINANCIAL REVIEW

Financial position

The Rio faced significant financial challenges throughout 2023, primarily stemming from reduced income and increased costs.

Reduced attendance : While blockbuster films like Barbie and Oppenheimer brought in record attendance and revenue during the summer, attendance for most other films was weak. This overall decline significantly impacted box office income.

Increased costs : The cinema experienced rising costs for various supplies, mirroring trends within the entertainment and hospitality sectors. A long-term fixed price electricity contract, that had shielded Rio from energy inflation, expired during the year. Renewal was in line with market conditions but a significant increase on previous prices.

SAG-AFTRA/Writers' Guild strikes : The Hollywood actors' and writers' strike significantly hampered the production and release of new films, leading to supply disruptions that negatively affected programming and consequently revenue. The strike also threatened to delay or cancel the 2024 awards season, which in turn impacted marketing, promotions, and ticket sales.

Cost of living crisis : The broader economic downturn and increased cost of living affected ticket sales across the cinema sector, furthe r impacting the Rio's income.

Reduced consultancy services : The Rio provides 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. Demand for our services reduced over the year, as ci nemas cut costs and as our staff profile changed.

.

Reserves policy

trustees deem it prudent to hold three months running costs in current assets. With the significant challenges faced in 2023/24, we have not been in a position to maintain full reserves throughout the period.

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

Page 4

Rio Centre (Dalston) Limited(The)

Report of the Trustees for the Year Ended 31 March 2024

STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued

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.

In so far as the trustees are aware:

AUDITORS

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

Approved by order of the board of trustees on 19 December 2024 and signed on its behalf by:

R Kirwan - 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 2024 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 identified some material potential 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. Although the charity is currently a going concern, for this to continue it needs to obtain further grant funding or loan support.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. support.

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

19 December 2024

Page 8

Rio Centre (Dalston) Limited(The)

Statement of Financial Activities for the Year Ended 31 March 2024

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Charitable activities
4
Cinema
Investment income
3
Other income
Total
EXPENDITURE ON
Raising funds
5
Charitable activities
6
Cinema
Total
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
45,572
947,320
465
92,364
1,085,721
387,633
855,628
1,243,261
(157,540)
90,123
(67,417)		 Restricted
funds
£
-
-
-
-
-
-
18,365
18,365
(18,365)
296,798
278,433		 31.3.24
Total
funds
£
45,572
947,320
465
92,364
1,085,721
387,633
873,993
1,261,626
(175,905)
386,921
211,016		 31.3.23
Total
funds
£
23,937
851,254
537
60,315
936,043
225,474
742,176
967,650
(31,607)
418,528
386,921

The notes form part of these financial statements

Page 9

Rio Centre (Dalston) Limited(The)

Balance Sheet

31 March 2024

Unrestricted
funds
Notes
£
FIXED ASSETS
Tangible assets
13
93,747
CURRENT ASSETS
Stocks
14
2,687
Debtors
15
42,358
Cash at bank and in hand
398
45,443
CREDITORS
Amounts falling due within one year
16
(179,219)
NET CURRENT ASSETS/(LIABILITIES)
(133,776)
TOTAL ASSETS LESS CURRENT
LIABILITIES
(40,029)
CREDITORS
Amounts falling due after more than one year
17
(27,388)
NET ASSETS
(67,417)
FUNDS
19
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Restricted
funds
£
254,901
-
-
23,532
23,532
-
23,532
278,433
-
278,433		 31.3.24
Total
funds
£
348,648
2,687
42,358
23,930
68,975
(179,219)
(110,244)
238,404
(27,388)
211,016
(67,417)
278,433
211,016		 31.3.23
Total
funds
£
396,851
5,352
45,577
91,035
141,964
(117,150)
24,814
421,665
(34,744)
386,921
90,123
296,798
386,921

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 19 December 2024 and were signed on its behalf by:

R Kirwan - 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 2024

Notes
Cash flows from operating activities
Cash generated from operations
1
Interest paid
Tax paid
Net cash (used in)/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
Loan repayments in year
Net cash used in 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		 31.3.24
£
(49,353)
(28)
(625)
(50,006)
(10,209)
465
(9,744)
(7,355)
(7,355)
(67,105)
91,035
23,930		 31.3.23
£
27,871
(274)
-
27,597
(103,667)
537
(103,130)
(12,376)
(12,376)
(87,909)
178,944
91,035

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 2024

1. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net expenditure for the reporting period (as per the Statement of
Financial Activities)
Adjustments for:
Depreciation charges
Interest received
Interest paid
Decrease in stocks
Decrease/(increase) in debtors
Increase in creditors
Net cash (used in)/provided by operations		 31.3.24
£
(175,905)
58,412
(465)
28
2,665
3,844
62,068
(49,353)		 31.3.23
£
(31,607)
63,618
(537)
274
1,659
(20,088)
14,552
27,871

2. ANALYSIS OF CHANGES IN NET FUNDS/(DEBT)

At 1.4.23
Cash flow
At
£
£
Net cash
Cash at bank and in hand
91,035
(67,105)
91,035
(67,105)
Debt
Debts falling due within 1 year
(12,648)
(1)
Debts falling due after 1 year
(34,744)
7,356
(47,392)
7,355
Total
43,643
(59,750)		 31.3.24
£
23,930
23,930
(12,649)
(27,388)
(40,037)
(16,107)

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 2024

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.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

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 2024

2. DONATIONS AND LEGACIES

Donations
Gift aid tax refunds
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:
British Film Institute
London Borough of Hackney
Notts Media Centre
Film London
5.
RAISING FUNDS
Raising donations and legacies
Film royalties
Confectionary costs
Bar costs
Mags & merchandise		 31.3.24
£
41,197
4,375
45,572
31.3.24
£
465
31.3.24
£
613,790
237,783
38,510
54,737
2,500
947,320
31.3.24
£
2,500
-
-
-
2,500
31.3.24
£
287,539
18,140
79,649
2,305
387,633		 31.3.23
£
23,937
-
23,937
31.3.23
£
537
31.3.23
£
432,146
166,045
19,599
102,094
131,370
851,254
31.3.23
£
108,246
11,214
6,650
5,260
131,370
31.3.23
£
160,376
13,396
51,702
-
225,474

continued...

Page 14

Rio Centre (Dalston) Limited(The)

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

6. CHARITABLE ACTIVITIES COSTS

Grant
funding of
activities
Support
Direct
(see note
costs (see
Costs
7)
note 8)
£
£
£
Cinema
826,111
457
47,425
7.
GRANTS PAYABLE
31.3.24
£
Cinema
457
8.
SUPPORT COSTS
Governance
Finance
costs
£
£
Cinema
41,925
5,500
9.
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
31.3.24
£
Auditors' remuneration
4,800
Depreciation - owned assets
58,412
Hire of plant and machinery
2,294
Other operating leases
11,496
10.
TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the
31 March 2023.
Trustees' expenses
One director was reimbursed expenses of £82 in the year.
11.
STAFF COSTS
31.3.24
£
Wages and salaries
511,186
Social security costs
28,633
Other pension costs
12,137
551,956
The average monthly number of employees during the year was as follows:
31.3.24
Film production staff (average) FTE 19
30		 Totals
£
873,993
31.3.23
£
3,155
Totals
£
47,425
31.3.23
£
4,800
63,618
13,260
11,500
year en
31.3.23
£
415,156
24,481
10,577
450,214
31.3.23
29

There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.

Page 15

continued...

Rio Centre (Dalston) Limited(The)

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

11. STAFF COSTS - continued

No employees received emoluments in excess of £60,000.

12.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
23,937
Charitable activities
Cinema
851,254
Investment income
537
Other income
60,315
Total
936,043
EXPENDITURE ON
Raising funds
225,474
Charitable activities
Cinema
723,811
Total
949,285
NET INCOME/(EXPENDITURE)
(13,242)
RECONCILIATION OF FUNDS
Total funds brought forward
103,365
TOTAL FUNDS CARRIED FORWARD
90,123		 Restricted
funds
£
-
-
-
-
-
-
18,365
18,365
(18,365)
315,163
296,798		 Total
funds
£
23,937
851,254
537
60,315
936,043
225,474
742,176
967,650
(31,607)
418,528
386,921

Page 16

continued...

Rio Centre (Dalston) Limited(The)

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

13. TANGIBLE FIXED ASSETS

COST
At 1 April 2023
Additions
At 31 March 2024
DEPRECIATION
At 1 April 2023
Charge for year
At 31 March 2024
NET BOOK VALUE
At 31 March 2024
At 31 March 2023
14.
STOCKS
Stocks
15.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Other debtors
Accrued income
Tax
Prepayments		 Short
leasehold
£
389,580
-
389,580
227,981
11,400
239,381
150,199
161,599		 Fixtures
and
fittings
Totals
£
£
874,937
1,264,517
10,209
10,209
885,146
1,274,726
639,685
867,666
47,012
58,412
686,697
926,078
198,449
348,648
235,252
396,851
31.3.24
31.3.23
£
£
2,687
5,352
31.3.24
31.3.23
£
£
13,437
24,766
19,699
12,816
3,167
7,500
625
-
5,430
495
42,358
45,577		 Fixtures
and
fittings
Totals
£
£
874,937
1,264,517
10,209
10,209
885,146
1,274,726
639,685
867,666
47,012
58,412
686,697
926,078
198,449
348,648
235,252
396,851
31.3.24
31.3.23
£
£
2,687
5,352
31.3.24
31.3.23
£
£
13,437
24,766
19,699
12,816
3,167
7,500
625
-
5,430
495
42,358
45,577
867,666
58,412
926,078
348,648
396,851
31.3.23
£
5,352
31.3.23
£
24,766
12,816
7,500
-
495
45,577

continued...

Page 17

Rio Centre (Dalston) Limited(The)

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.24
£
Bank loans and overdrafts (see note 18)
10,649
Other loans (see note 18)
2,000
Trade creditors
84,416
Social security and other taxes
9,963
VAT
38,479
Other creditors
12,071
Accrued expenses
21,641
179,219
17.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24
£
Bank loans (see note 18)
18,055
Other loans (see note 18)
9,333
27,388
18.
LOANS
An analysis of the maturity of loans is given below:
31.3.24
£
Amounts falling due within one year on demand:
Bank loans
10,649
Other loans
2,000
12,649
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
7,407
Other loans - 2-5 years
6,000
13,407
Amounts falling due in more than five years:
Repayable by instalments:
Bank loans more 5 yr by instal
-
Other loans more 5yrs instal
1,333
1,333		 31.3.23
£
10,648
2,000
51,389
9,960
27,110
7,243
8,800		 31.3.23
£
10,648
2,000
51,389
9,960
27,110
7,243
8,800
117,150
31.3.23
£
23,411
11,333
34,744
31.3.23
£
10,648
2,000
12,648
10,648
2,000
12,648
10,648
6,000
16,648
2,115
3,333
5,448
12,648
10,648
2,000
12,648
10,648
6,000
16,648
2,115
3,333
5,448

continued...

Page 18

Rio Centre (Dalston) Limited(The)

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

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 1.4.23
£
90,123
-
90,123
181,197
115,601
296,798
386,921
follows:		 Net
movement
in funds
£
(144,434)
(13,106)
(157,540)
(11,400)
(6,965)
(18,365)
(175,905)
Incoming
resources
£
1,085,721
-
1,085,721
-
-
-
1,085,721		 Transfers
between
funds
£
(13,106)
13,106
-
-
-
-
-
Resources
expended
£
(1,230,155 )
(13,106)
(1,243,261 )
(11,400)
(6,965)
(18,365)
(1,261,626 )		 At
31.3.24
£
(67,417)
-
(67,417)
169,797
108,636
278,433
211,016
Movement
in funds
£
(144,434)
(13,106)		 At
31.3.24
£
(67,417)
-
(67,417)
169,797
108,636
278,433
211,016
(157,540)
(11,400)
(6,965)
(18,365)
(175,905)

Comparatives for movement in funds

Unrestricted funds
General fund
RioGeneration Fund
Restricted funds
Revaluation Reserve
RioGeneration Fund
TOTAL FUNDS		 At 1.4.22
£
116,471
(13,106)
103,365
192,597
122,566
315,163
418,528		 Net
movement
in funds
£
(136)
(13,106)
(13,242)
(11,400)
(6,965)
(18,365)
(31,607)		 Transfers
between
funds
£
(26,212)
26,212
-
-
-
-
-		 At
31.3.23
£
90,123
-
90,123
181,197
115,601
296,798
386,921

continued...

Page 19

Rio Centre (Dalston) Limited(The)

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

19. MOVEMENT IN FUNDS - continued

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
£
936,043
-
936,043
-
-
-
936,043		 Resources
Movement
expended
in funds
£
£
(936,179)
(136)
(13,106)
(13,106)
(949,285)
(13,242)
(11,400)
(11,400)
(6,965)
(6,965)
(18,365)
(18,365)
(967,650)
(31,607)

20. RELATED PARTY DISCLOSURES

Anthony Andrews is a director of We are Parable which was reimbursed expenses of £381 in the year. Selina Robertson is involved in Club des Femmes which was reimbursed expenses of £450 in the year.

Page 20

Rio Centre (Dalston) Limited(The)

Detailed Statement of Financial Activities for the Year Ended 31 March 2024

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Gift aid tax refunds
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
Charitable activities
Wages
Social security
Pensions
Hire of plant and machinery
Other operating leases
Rates and water
Insurance
Light and heat
Telephone
Carried forward		 31.3.24
£
41,197
4,375
45,572
465
613,790
237,783
38,510
54,737
2,500
947,320
37,214
55,150
-
92,364
1,085,721
287,539
18,140
79,649
2,305
387,633
511,186
28,633
12,137
2,294
11,496
5,686
16,064
23,071
8,160
618,727		 31.3.23
£
23,937
-
23,937
537
432,146
166,045
19,599
102,094
131,370
851,254
16,056
43,000
1,259
60,315
936,043
160,376
13,396
51,702
-
225,474
415,156
24,481
10,577
13,260
11,500
4,524
17,199
13,807
7,572
518,076

This page does not form part of the statutory financial statements

Page 21

Rio Centre (Dalston) Limited(The)

Detailed Statement of Financial Activities for the Year Ended 31 March 2024

Charitable activities
Brought forward
Postage and stationery
Advertising
Sundries
Repairs & maintenance
Cleaning
IT software & consumables
Card fees
Consulting
Training
Subscriptions
Short leasehold depreciation
Fixtures & fittings depreciation
Bank interest
Grants to individuals
Support costs
Finance
Bank charges
Governance costs
Auditors' remuneration
Legal fees
Total resources expended
Net expenditure		 31.3.24
£
618,727
2,250
4,336
69,064
46,557
12,278
2,083
(28)
5,495
936
5,973
11,400
47,012
28
457
826,568
41,925
4,800
700
5,500
1,261,626
(175,905)		 31.3.23
£
518,076
3,210
4,985
43,900
53,590
11,062
8,317
6,988
7,388
169
6,648
11,400
52,218
274
3,155
731,380
5,926
4,800
70
4,870
967,650
(31,607)

This page does not form part of the statutory financial statements

Page 22