## **The Cinema Museum** 

**Report and Financial Statements For the year ended 31 December 2020** 

**Company no: 1865840 Registered Charity no: 293285** 



## **The Cinema Museum** 

## **Report of the Council of Management** 

## **For the year ended 31 December 2020** 

The Council of Management presents the annual report and financial statements of the charity for the year ended 31 December 2020. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s trust deed, the Companies Act 2006 and 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. 

## **Objectives and activities** 

The object for which the charity was established, as recorded in the Memorandum of Association is to promote, maintain, improve and advance education of the public in performing arts. 

The Council give due consideration to the Charity Commission guidance on public benefit when deciding on how the charity should meet its objectives. 

The principal activities in the year were 

- maintaining the collection, improving documentation and storage of the museum collection. 

- educational exhibitions and events 

- guided tours 

- reviewing the future options for the Museum in light of the proposed development of the Dugard Way site 

## **Achievements for the year** 

The Museum was open from January 1[st] until March 13th when it closed due the the Covid-19 Pandemic. 

The Museum delivered 38 events to 1764 people and gave tours to 367 people [120 full price and 247 concessions]. 

We conducted two volunteers training and social events. 

In February we hosted our annual ‘Thank You’ event for all our local residents and supporters. 

Once we closed all the Trustees and Volunteers were in lockdown Ronald Grant remained as caretaker at the museum. 

Work was undertaken by Zoom, email and phone calls and the Museum attended and supported a range of cinema and Museum-related online conferences and events. 

The trustees undertook a thorough risk assessment for COVID and put in place a financial resilience plan and a H&S plan. 

A Crowdfunder was set up, which raised £65,075 excluding gift aid, from 1,359 people. 

Over 2020 as a response to COVID the Museum set up a 24/7 volunteer help line and diverted some of its volunteer capacity to supporting local charities and support groups. 

The quarterly Trustees meetings for the remainder of 2020 were carried out via Zoom. 

The Museum attended an online three-week Public Inquiry into the future of the Woodlands site – upon which the Museum sits. 

Work on the negotiations and lease improvements continued with our landlord Anthology/ Lifestory over the long-term future of the museum. 

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**The Cinema Museum** 

## **Report of the Council of Management (continued)** 

## **For the year ended 31 December 2020** 

## **Achievements for the year (continued)** 

Significant work was done on the ‘Save The Cinema Museum’ petition which by the end of 2020 exceeded 51,000 signatures. 

In June the Museum worked in partnership with Bankside Open Spaces Trust to deliver a weekend online festival of music; talk; poetry; quizzes and competitions to celebrate the life of Jo Cox. 

Volunteers returned to the museum in July to carry out collections management work. This continued until the end of October when there was another lockdown. 

In October filming took place in the museum for an episode of BBC1’s Great Railway Journeys that touched on Chaplin and the Workhouse. 

The Museum were asked, by the local community to head up a local reclamation project to secure significant remains of The Coronet at Elephant & Castle. The Museum created a project team with Southwark Council; The Walworth Society; The Bartlett School of Architecture; and the developer Delancy. A team research trip was conducted after which a soundscape was created and selected items were saved before the Coronet was demolished. These were later delivered to the museum by Delancy where they are being held in safekeeping for future use. 

## **Financial Review** 

The results for the year are set out on page 5. 

The trustees’ policy is to maintain a minimum amount of free reserves, being unrestricted funds held as current assets, to meet working capital requirements. This is set at between 6-9 months of running costs which amounts to approximately £45,000 - £60,000. 

At 31 December 2020, the charity held free reserves in the form of net current assets of £167,222 (2019: £86,271) in unrestricted funds. 

## **Post year end - Impact of Covid-19 Pandemic** 

The Cinema Museum temporarily closed on the 13th of March 2020. It has remained closed and as things stand at the date of this report, we anticipate reopening in October 2021. The Museum layout does not lend itself to social distancing and operating with severely reduced numbers would not have allowed us to break even on running public events. The trustees undertook a COVID-based risk assessment which included addressing the income shortfall and any impacts and remedies. As a result, a cost cutting exercise was undertaken and we significantly reduced our costs across Covid from March 13th 2020 through to September 28th 2021. The Museum applied for and was granted 100% business rates relief (as afforded to the retail, hospitality and leisure sectors) for the year 2020-2021. In terms of replacing income lost through closure, the Museum launched a fund-raising initiative which ran until January 2021, which has raised in the region of £100,000 so far and which we anticipate will be similar to the level of annual income normally generated as current estimates suggest income for the year will be in excess of some £115,000. No reserves have been utilised to date. In late 2020 we were successful in receiving an Art Fund grant of £15,000 to be spent making the museum Covid compliant. 

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## **The Cinema Museum** 

## **Report of the Council of Management (continued)** 

## **For the year ended 31 December 2020** 

## **Structure Governance and Management** 

The Cinema Museum is a company limited by guarantee, without a share capital incorporated on 22 November 1984 and was registered as a charity by the Charity Commission (England and Wales) on 7 January 1986. 

The charity has no paid staff and is managed and run by the trustees. New trustees are appointed by existing trustees. 

All directors are trustees and members of the charitable company and guarantee to contribute up to £1 to the assets of the charitable company in the event of it being wound up. The number of such guarantees at 31 December 2020 was 9 (2019- 9) 

The directors have no beneficial interest in the company and do not receive any remuneration 

## **Reference and Administrative Details of the Charity, its Trustees and Advisers** 

The Cinema Museum is a registered in England and Wales as a charity (no: 293285) and a company (no: 1865840) 

The registered office and principal operating address is: 

The Master’s House The Old Lambeth Workhouse 2 Dugard Way London SE11 4TH 

The Directors of the company, who are also the Trustees of the charity, are as follows: 

From 1 January 2020 up to the date of this report: 

Tony Fletcher David Eve Malcolm Billingsley 

Ronald Grant Nicholas Hiley Mary Waldy 

Martin Humphries Jon Davies Tim Wood 

The principal advisers to the charity were 

**Bankers** HSBC Bank London Bridge 28 Borough High Street London SE1 1YB 

Triodos Bank Brunel House 11 The Promenade Bristol BS8 3NN 

## **Solicitors** 

## **Independent Examiner** 

Lester Aldridge LLP 70 Chancery Lane London WC2A 1AF 

Nicola Anderson FCA FCIE 189 Baldwins Lane Croxley Green Herts WD3 3LL 

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**The Cinema Museum Report of the Council of Management (continued) For the year ended 31 December 2020** 

## **Directors’ Responsibilities** 

Company law requires the directors to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company at the year-end and of the net incoming resources of the charitable company for the year then ending. In preparing these financial statements, the directors are required to 

- Select suitable accounting policies 

- Make judgements and estimates that are reasonable and prudent 

- Prepare financial statements on a going concern basis unless it is inappropriate to assume that the company will continue on that basis 

The Directors 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 it 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. 

This report and the financial statements have been prepared in accordance with 

- The special provisions of part 15 of the Companies Act 2006 relating to small entities 

- The provisions of the Charities Act that determine the form and content of Charity Annual Reports 

- Statement of Recommended Practice: Accounting and Reporting by Charities. 

## **Exemption from audit** 

The directors have taken advantage of section 477(2) of the Companies Act 2006 which exempts the company from the requirement to have the accounts audited. 

Approved by the Board on 27 September 2021 and signed on their behalf 

## **Ronald Grant** – Director 

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## **The Cinema Museum** 

## **Statement of Financial Activities** 

## **(Incorporating an Income and Expenditure Account) For the year ended 31 December 2020** 

||||**2020**|**2019**|
|---|---|---|---|---|
||**Restricted**|**Unrestricted**|**Total**|**Total**|
||**£**|**£**|**£**|**£**|
|**Income from:**|||||
|Donations: individuals|-|92,296|92,296|10,756|
|Donations: institutions|-|4,050|4,050|-|
|Grants|13,500|-|13,500|-|
|Events|-|19,048|19,048|94,776|
|Use of facilities|-|7,120|7,120|22,142|
|Sales|-|5,634|5,634|4,619|
|Other|-|-|-|2,000|
|**Total Income**|**13,500**|**128,148**|**141,648**|**134,293**|
|**Expenditure on:**|||||
|Museum development and Promotion|-|40,323|40,323|57,231|
|Events|-|8,752|8,752|35,965|
|Premises|-|14,123|14,123|34,394|
|Repairs and Maintenance|-|2,709|2,709|23,302|
|Travel and Motor Expenses|-|5,271|5,271|4,105|
|Office Costs|-|11,850|11,850|11,665|
|Accountancy|-|1,800|1,800|2,200|
|Other professional fees|-|1,040|1,040|7,971|
|Bank Charges|-|1,612|1,612|743|
|Items for re-sale|-|40|40|4,417|
|Depreciation|-|3,484|3,484|3,484|
|**Total Expenditure**|**-**|**91,004**|**91,004**|**185,477**|
|**Net income**|**13,500**|**37,144**|**50,644**|**(51,184)**|
|**Reconciliation of funds**|||||
|Funds at 1 January 2020|1,500|(134,899)|(133,399)|(82,215)|
|**Funds at 31 December 2020**|**15,000**|**(97,755)**|**(82,755)**|**(133,399)**|



The notes on pages 7 to 10 form part of these financial statements. 

All the company’s operations are classed as continuing. All the company’s recognised gains or losses are shown above. The movement on reserves is shown above. 

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**The Cinema Museum** 

**Balance Sheet** 

**Company number: 1865840** 

**As at 31 December 2020** 

|||||**2020**|**2019**|
|---|---|---|---|---|---|
||**Note**|**Restricted**|**Unrestricted**|**Total**|**Total**|
|||**£**|**£**|**£**|**£**|
|**Tangible Fixed Assets**|2|**-**|**7,017**|**7,017**|**10,501**|
|**Current Assets**||||||
|Debtors and Prepayments||13,500|19,446|32,946|17,358|
|Bank and Cash in hand||1,500|163,877|165,377|85,232|
|Total current assets||15,000|183,323|198,323|102,590|
|**Creditors: Amounts falling**||||||
|**due within one year**|3a|-|(16,101)|(16,101)|(14,819)|
|**Net Current Assets**||**15,000**|**167,222**|**182,222**|**87,771**|
|**Creditors: Amounts falling**|3b|**-**|**(271,994)**|**(271,994)**|**(231,671)**|
|**due within one year**||||||
|**Net Assets/(Liabilities)**||**15,000**|**(97,755)**|**(82,755)**|**(133,399)**|
|**Total Funds**|8|**15,000**|**(97,755)**|**(82,755)**|**(133,399)**|



The notes on pages 7 to 10 form part of these financial statements 

The directors approved these financial statements on 27 September 2021 

The opinion of the directors is that the company is entitled to the exemption conferred by section 477(2) of the Companies Act 2006 in respect of the year end 31 December 2020. No notice has been deposited under section 476(1) of the Companies Act 2006 in relation to the accounts for the above financial year. 

The directors acknowledge their responsibility to keep accounting records which comply with section 386 of the Companies Act 2006 and prepare accounts that show a true and fair view of the company’s affairs at 31 December 2020 and the net income or expenditure for the year then ended 

These accounts have been prepared in accordance with the provisions applicable to companies’ subject to the small companies’ regime. 

**Ronald Grant** – Director 

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**The Cinema Museum** 

**Notes to the Financial Statements** 

**For the year ended 31 December 2020** 

## **1. Accounting Policies** 

## **Basis of preparation** 

The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Companies Act 2006. 

The charity constitutes a public benefit entity as defined by FRS 102. 

## **Going Concern** 

The company has sufficient net current assets to meet the day-to-day operations of the Company. The creditor due after one year relates to fees which will become payable in 5 annual instalments once the final planning decision relating to the proposed development of the Old Lambeth Workhouse site is determined. This is not expected until Spring 2022 at the earliest and the Council of Management are confident that they will be able to generate sufficient funds to meet this liability as it falls due. The Council of Management therefore considers that there are no material uncertainties about the charity’s ability to continue as a going concern. 

## **Income** 

Income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Income relating to future periods is deferred. 

## **Expenditure** 

Expenditure is recognised when a liability is incurred. Irrecoverable VAT is charged against the expenditure heading for which it was incurred. 

## **Heritage assets** 

The Museum’s collection is considered by the Directors to be a Heritage Asset. Assets held at 1 January 2002 were not capitalised and the Directors consider the cost of carrying out a valuation to now include these in the accounts outweigh any benefit derived from the users of the accounts. Assets acquired after 1 January 2002 in excess of £500, in so far as they represent a cost to the Museum or can be valued, will be capitalised and amortised. 

## **Tangible Fixed Assets** 

Equipment and motor vehicles over £1,000 are capitalised and depreciated over their expected useful life which is set at 4 years. 

## **Fund structure** 

Restricted funds represent funds received whereby the application of those funds is restricted by the donor. Funds that may be applied at the discretion of the trustees within the charitable objects are unrestricted. Where trustees have set aside funds for specific purposes, these are identified as designated funds 

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## **The Cinema Museum** 

## **Notes to the Financial Statements (continued)** 

## **For the year ended 31 December 2020** 

## **2. Tangible Fixed Assets** 

|||**Motor Van**|**Equipment**|**Total**|
|---|---|---|---|---|
|||**£**|**£**|**£**|
||**Cost**||||
||As at 1 January 2020|12,478|1,507|13,985|
||Disposals|-|-|-|
||Additions|-|-|-|
||**As at 31 December 2020**|**12,478**|**1,507**|**13,985**|
||**Depreciation**||||
||As at 1 January 2020|**3,107**|**377**|**3,484**|
||Charge for year|3,107|377|3,484|
||**As at 31 December 2020**|**6,214**|**754**|**6,968**|
||**Net book value**||||
||As at 1 January 2020|9,371|1,130|10,501|
||**As at 31 December 2020**|**6,264**|**753**|**7,017**|
|**3. **|**Creditors**||||
||||**2020**|**2019**|
||||**£**|**£**|
||**(a) Amounts due within one year**||||
||Creditors||-|-|
||Accruals and deferred income||16,101|14,819|
||||**16,101**|**14,819**|
||**(b) Amounts due after one year**||||
||Other Creditors||271,994|231,671|
||||**271,994**|**231,671**|



## **4.  Heritage Assets** 

The Museum owns a collection of approximately 7,000 items including projection, sound and other technical equipment, books and magazines, feature and short films and other cinema paraphernalia such as posters, uniforms, furniture and décor. The original value of the assets has not been included in the Balance Sheet as, in the opinion of the Directors; the cost of professionally valuing these assets outweighs the benefit to users of the accounts of including the value. 

## **5. Taxation** 

All income is applied for charitable purposes and therefore any surplus is exempt from corporation tax. 

## **6.   Trustee remuneration and expenses** 

No trustee received any remuneration in the year (2019: nil). No trustees received any reimbursements (2019: nil). 

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## **The Cinema Museum** 

## **Notes to the Financial Statements (continued)** 

## **For the year ended 31 December 2020** 

## **7.   Related party transactions** 

The museum hosts the Ronald Grant Archive, the private collection of Ronald Grant, a trustee of the Museum. At 31 December 2020 the Archive owed the Museum £nil (2019: £4,356). 

The aggregated donations to the charity in the year to 31 December 2020 amounted to £4,347 (2019: £nil). 

## **8.  Purpose of restricted Funds** 

|||**2020**|**2019**|
|---|---|---|---|
|||**£**|**£**|
|Strategic Planning||13,500|-|
|Publication||1,500|1,500|
|Balance unspent at 31 December 2020||**15,000**|**1,500**|
|**Prior Year Statement of Financial Activities**||||
||||**2019**|
||**Restricted**|**Unrestricted**|**Total**|
||**£**|**£**|**£**|
|Income from:||||
|Donations|1,500|9,256|10,756|
|Events|-|94,776|94,776|
|Use of facilities|-|22,142|22,142|
|Sales|-|4,619|4,619|
|Other|-|2,000|2,000|
|**Total Income**|**1,500**|**132,793**|**134,293**|
|Expenditure on:||||
|Museum development and Promotion||57,231|57,231|
|Events|-|35,965|35,965|
|Premises|-|34,394|34,394|
|Repairs and Maintenance|-|23,302|23,302|
|Travel and Motor Expenses|-|4,105|4,105|
|Office Costs|-|11,665|11,665|
|Accountancy|-|2,200|2,200|
|Other professional fees|-|7,971|7,971|
|Bank Charges|-|743|743|
|Items for re-sale|-|4,417|4,417|
|Depreciation|-|3,484|3,484|
|**Total Expenditure**|**-**|**185,477**|**185,477**|
|**Net income**|**1,500**|**(52,684)**|**(51,184)**|
|**Reconciliation of funds**||||
|Funds at 1 January 2019|-|(82,215)|(82,215)|
|**Funds at 31 December 2019**|**1,500**|**(134,899)**|**(133,399)**|



## **9.  Prior Year Statement of Financial Activities** 

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## **The Cinema Museum** 

## **Notes to the Financial Statements (continued)** 

## **For the year ended 31 December 2020** 

## **10.  Prior Year Balance Sheet** 

|||||**2019**|
|---|---|---|---|---|
||**Note**|**Restricted**|**Unrestricted**|**Total**|
|||**£**|**£**|**£**|
|**Tangible Fixed Assets**|2|**-**|**10,501**|**10,501**|
|**Current Assets**|||||
|Debtors and Prepayments||-|17,358|17,358|
|Bank Balance||1,500|83,732|85,232|
|Total current assets||1,500|101,090|102,590|
|**Creditors: Amounts falling due**|||||
|**within one year**|3a|-|(14,819)|(14,819)|
|**Net Current Assets**||**1,500**|**86,271**|**87,771**|
|**Creditors: Amounts falling due**|3b|**-**|**(231,671)**|**(231,671)**|
|**within one year**|||||
|**Net Assets/(Liabilities)**||**1,500**|**(134,899)**|**(133,399)**|
|**Total Funds**||**1,500**|**(134,899)**|**(133,399)**|



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**Independent Examiner’s Report To the Trustees of The Cinema Museum** 

I report to the charity trustees of The Cinema Museum on my examination on the accounts of the company (no. 865840) and charity (no: 293285) for the year ended 31 December 2020 as set out on pages 5 to 10. 

## **Responsibilities and basis of report** 

As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’). 

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act. 

## **Independent examiner’s statement** 

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: 

1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 

2. the accounts do not accord with those records; or 

3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination; or 

4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)]. 

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. 

## **Nicola Anderson FCA FCIE** 

dated: 27 October 2021 

189 Baldwins Lane Croxley Green Rickmansworth Hertfordshire WD3 3LL 

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