CONCORD VIDEO & FILM COUNCIL LTD (BY GUARANTEE)
Company Number 815648
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021
Registered Charity Number 305990
CONNCORD VIDEO & FILM COUNCIL LTD (BY GUARANTEE)
REFERENCE AND ADMINISTRATIVE DETAILS
NAME
Concord Video & Film Council Ltd
LEGAL STRUCTURE
The charity is Limited by Guarantee
BANKERS(Principal)
The Cooperative Bank
1 Balloon Street
Manchester
M60 4EP
INDEPENDENT EXAMINER
David Stephens FCCA
Chartered Certified Accountant
13 Newlands Road
Tunbridge Wells
Kent TN4 9AS
PRINCIPAL OFFICE
Rosehill Centre
22 Hines Road
Ipswich
Suffolk
IP3 9BG
TRUSTEES
Lydia Vulliamy
Stephen Connelly
Virginia Marshall
Izzy Lane
Eric Walker
Jane Riley
COMPANY SECRETARY
Lydia Vulliamy
Company number 815648
Charity number 305990
FOR THE YEAR ENDED 30 JUNE 2021
TRUSTEES’ ANNUAL REPORT
The Trustees, who are also the Directors, present their report and financial statements for the year
ended 30 June 2021.
Structure, governance and management
The governing documents comprise the company’s Memorandum and Articles of Association.
The charity is registered with the Charity Commission with number 305990.
None of the Trustees has any beneficial interest in the company. All of the Trustees are members of
the company and guarantee to contribute £1 in the event of a winding up.
The trustees who served during the year on the council were as stated below:
Lydia Vulliamy
Stephen Connelly
Virginia Marshall
Izzy Lane
Eric Walker
Jane Riley (appointed director 8 February 2021)
Trustees can be appointed at the company’s AGM by a majority decision of the existing trustees.
There are no restrictions about who may be appointed as a trustee.
When a vacancy occurs for a trustee, the remaining trustees will seek to appoint an individual with
skills and experience which they feel will be of benefit to the Charity. On appointment, a new
trustee would be given a copy of the original Memorandum and Articles and the latest Annual Report
and Accounts. There is no formal induction and training programme but individual trustees attend
seminars to update themselves when they feel it necessary.
Risk
The Trustees have considered the major risks to which the charity is exposed and are satisfied that
systems are in place to mitigate exposure to the major risks.
Objectives and activities
The objects of the charity are the advancement of education (including adult education) in the
United Kingdom, and elsewhere, by establishing and maintaining for the public benefit, a library of
films for the advancement of education, whether by sale, hire or otherwise.
In accordance with our charitable objectives, the principal activity of the company continued to be
that of the sale of audio visual material promoting peace and education, physical and mental health.
The trustees are aware of the Charity Commission’s guidance in relation to delivering public
benefit. In making educational material widely available the Trustees consider that they are
fulfilling the requirements to deliver public benefit.
Achievements and performance
Sales of DVDs have now all but disappeared to be replaced by Video on Demand and the sale
of distribution rights to companies who produce specialised packages for universities etc.
In addition the sale of footage to producers of new TV programmes provides a substantial
but greatly varying income stream. After a long period of paying 50% our renters of part
of our property are back from August 2021 to paying full rents. The furloughing of staff
produced in effect a subsidy which ended on September 30[th] 2021. We have been digitalising
some of our old 16mm prints but there are doubts if this is cost effective. We have ended
our contract with Amazon as the amount of administrative effort needed to fulfil their
verification demands made the operation not cost effective.
TRUSTEES’ ANNUAL REPORT (continued)
FOR THE YEAR ENDED 30 JUNE 2020
Financial review
The company received income of £53,890 and expended £35,633 resulting in a surplus of £18,257 This
compares to a surplus of £10,334 in the previous year. Income has increased due to increased sales.
Expenditure on charitable activities is comparable. New Website production and maintenance
expenditure was £6,278.
Reserves
The Charity’s Reserves are detailed in the Statement of Financial Activities. The balance on the
Unrestricted Fund is maintained to provide for the day to day running of the Charity.
At the end of the year the free reserves were £11,964. It is intended to maintain a level of
reserves of 3-6 months of expected expenditure.
Investments
Any cash not required for use on a day to day basis is maintained in a deposit account. The Trustees
believe that this is a safe investment, as well as providing a regular stream of income. This policy
is regularly reviewed.
Trustees’ Responsibilities
Company law requires the trustees to prepare financial statements for each financial period, which
give a true and fair view of the state of affairs of the company and of the surplus or deficit of
the company for the period. In preparing those financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
must make judgements and estimates that are reasonable and prudent;
-
state whether applicable accounting policies and statements of recommended practice have followed subject to any material departures disclosed and explained in the financial statements; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in operation.
The trustees have overall responsibility for ensuring that the company has appropriate systems of
controls, financial and otherwise. They are also responsible for keeping proper accounting records
which disclose with reasonable accuracy at any time the financial position of the company and enable
them to ensure that the financial statements comply with the Statement of Recommended Practice,
“Accounting and Reporting by Charities”. They are also responsible for safeguarding the assets of
the company and for taking reasonable steps for the prevention and detection of fraud and other
irregularities and to provide reasonable assurance that:
-
the company is operating efficiently and effectively;
-
its assets are safeguarded against unauthorised use or disposition;
-
proper records are maintained and financial information used within the company for publication is reliable; and
-
the company complies with relevant laws and regulations.
This Report has been prepared in accordance with the special provisions relating to small companies
within Part 15 of the Companies Act 2006.
Signed on behalf of the trustees
..................... ..............
L Vulliamy
Secretary Dated
CONCORD VIDEO & FILM COUNCIL LTD (BY GUARANTEE) 3.
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 30 JUNE 2021
Res- Unres- Total Res- Unres- 2020
tricted tricted tricted tricted
FundsFundsFundsFunds
Notes
£ £ £ £ £ £
INCOMING RESOURCES
Donations 2 - 3,000 3,000 - 7 7
Investment 4 - 6 6 - 12 12
Charitable
activities 3 - 50,884 50,884 - 36,822 36,822
Total Incoming _____ _______ _______ _____ _______ _______
Resources - 53,890 53,890 - 36,841 36,841
RESOURCES EXPENDED
Cost of generating
funds 5 - 6,278 6,278 - 375 375
Charitable
activities 6 - 28,770 28,770 - 25,557 25,557
Governance 7 - 585 _ 585 - 575 _ 575
Total Resources
--
Expended 35,633 35,633 26,507 26,507
Net (outgoing)/incoming resources
Net movement
in funds - 18,257 18,257 - 10,334 10,334
FUND BALANCES
B/FORWARD - 15,003 15,003 - 4,669 4,669
_______ _______ _______ _____ ______ ______
FUND BALANCES
C/FORWARD - 33,260 33,260 - 15,003 15,003
_______ _______ _______ _____ ______ ______
The notes on pages 5 to 7 form part of these accounts.
CONCORD VIDEO & FILM COUNCIL LTD (BY GUARANTEE) 4.
BALANCE SHEET AT 30 JUNE 2021
RestrictedUnrestricted 20212020
Notes
£ £ £ £
FIXED ASSETS
Tangible Assets 9 - 2,983 2,983 3,039
_____ _____ ______ ______
CURRENT ASSETS
Stock - 331 331 425
Debtors 10 - - - 134
Cash at Bank and In Hand 15 - 43,229 43,229 21,098
_____ ______ ______ ______
- 43,560 43,560 21,657
CREDITORS: Amounts Falling
Due Within One Year 11 - ( 8,391) ( 8,391) ( 4,801)
_____ ______ ______ ______
NET CURRENT ASSETS - 35,169 35,169 16,856
_____ ______ ______ ______
CREDITORS: Amounts Falling
Due After One Year 12 - ( 4,892) ( 4,892) ( 4,892)
_____ ______ ______ ______
NET ASSETS/(LIABILITIES) - 33,260 33,260 15,003
_____ ______ ______ ______
FUNDS
Unrestricted -33,26033,26015,003
Total funds -33,26033,26015,003
For the year ended 30 June 2021 the company was entitled to the exemption from the
requirement to have an audit under the provisions of Section 477 of the Companies Act
2006. No notice has been deposited with the company under Section 476 of that Act
requiring an audit to be carried out.
The directors acknowledge their responsibility for:
-
a) ensuring that the company keeps accounting records which comply with Section 386 of the Companies Act 2006; and
-
b) preparing accounts which give a true and fair view of the state of affairs of the company as at the end of its financial year in accordance with the requirements of Sections 394 and 395 of the Companies Act 2006 and which otherwise comply with the requirements of that Act relating to the accounts, so far as applicable to the company.
Approved by the Board and signed on its behalf by:
..........................
L Vulliamy
Secretary
......................... Dated Company number 815648
CONCORD VIDEO & FILM COUNCIL LTD (BY GUARANTEE) 5.
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2021
1. ACCOUNTING POLICIES
Basis of accounting:
These 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 (FRS102) issued on 16 July 2014 and also with the requirements of the Companies
Act 2006.
Fund Accounting:
Unrestricted funds are general funds that are available for use at the trustees’
discretion in furtherance of the objectives of the Charity.
Restricted funds are subject to specific restrictions imposed by the donor or by the
nature of the appeal.
Incoming resources:
Fees and sales are recognised in the Financial Statements as earned. Donations and
fundraising receipts are recognised when received.
Resources expended:
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure
includes any VAT which cannot be fully recovered, and is reported as part of the
expenditure to which it relates.
Charitable expenditure comprises those costs incurred by the charity in the delivery of
its activities and services. It includes both costs that can be allocated directly to such
activities and those costs of an indirect nature necessary to support them.
Governance costs include those costs associated with the constitutional and statutory
requirements of the charity, and include the independent examiner’s fees and costs linked
to the management of the charity.
All costs are allocated between the expenditure categories of the SOFA on a basis designed
to reflect the use of the resource. Costs relating to a particular activity are allocated
directly; others are apportioned on an appropriate basis.
Tangible fixed assets:
Depreciation is provided at the following annual rates in order to write off each asset
over its estimated useful life:
Fixtures, fittings & equipment 15% reducing balance
Leasehold improvements 10% on cost
Stock:
Stock is valued at the lower of cost and net realisable value.
Taxation:
The Company is a registered charity and its activities are exempt from United Kingdom
Income and Corporation taxation.
Pension costs:
Contributions payable to the company’s pension scheme are charged in the Income and
Expenditure account in the period to which they relate. The company operates the
Government pension scheme.
Operating leases:
Rentals payable under operating leases are charged against income on a straight line basis
over the period of the lease.
CONCORD VIDEO & FILM COUNCIL LTD (BY GUARANTEE) 6.
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2021
2 DONATIONS
Restricted Unrestricted 20212020
£ £ £ £
Donations - 3,000 3,000 7
Gift Aid - - - -
______ ______ ______ ______
- 3,000 3,000 7
______ ______ ______ ______
3 CHARITABLE ACTIVITIES
20212020
£ £ £ £
Audio visual sales - 35,263 35,263 23,450
Postage - 616 616 1,193
Other income - 15,005 15,005 12,179
______ ______ ______ ______
- 50,884 50,884 36,822
______ ______ ______ ______
4 INVESTMENT INCOME
£ £ £ £
Bank interest - 6 6 12
_____ ____ ____ _____
5 COST OF GENERATING FUNDS
£ £ £ £
Website production - 6,278 6,278 375
and maintenance _____ ______ _____ _____
6 CHARITABLE ACTIVITIES
£ £ £ £
Direct expenditure - 8,036 8,036 5,964
Support costs (below) - 20,734 20,734 19,593
_____ ______ ______ ______
- 28,770 28,770 25,557
_____ ______ ______ ______
Support costs Basis of
Allocation
£ £ £ £
Staff costs actual - 15,586 15,586 15,052
Office costs actual - 4,622 4,622 4,005
Depreciation actual - 526 526 536
-
20,734 20,73419,593
7 GOVERNANCE COSTS
£ £ £ £
Independent Examination - 585 585 575
8 STAFF COSTS
£ £ £ £
Wages and salaries - 14,502 14,502 13,894
Other pension costs - 1,084 1,084 1,068
______ ______ ______ ______
- 15,586 15,586 15,052
______ ______ ______ ______
No employee earned more than £60,000 (2020: None)
The average number of employees during the year was 1 (2020:1)
CONCORD VIDEO & FILM COUNCIL LTD (BY GUARANTEE) 7.
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2021
9 TANGIBLE FIXED ASSETS Leasehold Fixtures Total
Property Fittings &
Improvements Equipment
£ £ £
Cost at 1 July 2020 26,682 93,558 120,240
Additions - 470 470
______ ______ _______
At 30 June 2021 26,682 94,028120,710
Depreciation at 1 July 2020 26,681 90,520 117,201
Charge for the year - 526 526
______ ______ _______
At 30 June 2021 26,681 91,046117,727
Net Book Value at 30 June 2021 1 2,9822,983
Net Book value at 30 June 2020 1 3,0383,039
There were no capital commitments at the year end.
2021 2020
10 DEBTORS £ £
Trade debtors - 134
Other debtors --_
- 134
11 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR £ £
Unpaid Royalties 7,424 4,161
Other taxes and social security costs 68 24
Loan - -
Other creditors and accruals 899 616
8,391 4,801
12 CREDITORS: AMOUNTS FALLING DUE AFTER ONE YEAR £ £
Loan – no fixed terms of repayment 4,892 4,892
13 TRUSTEES’ REMUNERATION
No trustees received any remuneration in either year.
14 COMMITMENTS
The Charity is committed to making the following annual payments under an operation lease
in respect of office accommodation:
20212020
£ £
Leases which expire after more than five years 100 100
15 CASH AT BANK AND IN HAND 2021 2020
£ £
Cash at bank and in hand 43,229 21,098
Short term deposits - -
43,229 21,098
16 PENSION SCHEME
The company pays into the Government pension scheme, NEST.
17 OTHER INCOME
Other income includes HMRC grant of £5,784.
CONCORD VIDEO & FILM COUNCIL LTD (BY GUARANTEE) 8.
FOR THE YEAR ENDED 30 JUNE 2021
INDEPENDENT EXAMINER’S REPORT
I report on the accounts of the charity for the year ended 30 June 2021, which are set out
on pages 3 to 7.
Respective responsibilities of trustees and examiner
The trustees (who are also the directors of the company for the purposes of company law)
are responsible for the preparation of the accounts. The charity’s trustees consider that
an audit is not required for this year under section 145 of the Charities Act 2011 (the
Act) and that an independent examination is needed.
Having satisfied myself that the charity is not subject to audit under company law and is
eligible for independent examination, it is my responsibility to:
-
examine the accounts under section 145 of the Act;
-
follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the Act; and
-
state whether particular matters have come to my attention.
Basis of independent examiner’s report
My examination was carried out in accordance with the General Directions given by the Charity
Commission. An examination includes a review of the accounting records kept by
the charity and a comparison of the accounts presented with those records. It also
includes considering any unusual items or disclosures in the financial statements and seeking
explanations from you as trustees concerning any such matters. The procedures undertaken do not
provide all the evidence that would be required in an audit, and consequently, no opinion is
given as to whether the accounts present a ‘true and fair
view’ and the report is limited to those matters set out in the statement below.
Independent examiner’s statement
In connection with my examination, no matter has come to my attention:
(1) which gives me reasonable cause to believe that in any material respect the
requirements to keep accounting records in accordance with section 386 of the Companies
Act 2006; and to prepare accounts, which accord with the accounting records, comply with
the requirements of the Companies Act 2006 and with the methods and principles of the
Statement of Recommended Practice: Accounting and Reporting by Charities (revised 2005)
have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper
understanding of the accounts to be reached.
.................................... .......................
David Stephens FCCA Dated
Chartered Certified Accountant
13 Newlands Road
Tunbridge Wells
Kent TN4 9AS.