2024-09-30-accounts

Docusign Envelope ID: 7D8B2F2B-EC1F-470E-87AD-9DA4176FADCF

Registered number: 1113101 Charity number: 502592

TYNESIDE CINEMA

(A Company Limited by Guarantee)

CONSOLIDATED TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2024

Docusign Envelope ID: 7D8B2F2B-EC1F-470E-87AD-9DA4176FADCF

TYNESIDE CINEMA

(A Company Limited by Guarantee)

CONTENTS
	Page
Reference and Administrative Details of the Company, its Trustees and Advisers	1
Trustees' Report	2 - 8
Independent Auditors' Report on the Financial Statements	9 - 12
Consolidated Statement of Financial Activities	13
Consolidated Income and Expenditure Account	14
Consolidated Balance Sheet	15 - 16
Company Balance Sheet	17 - 18
Consolidated Statement of Cash Flows	19
Notes to the Financial Statements	20 - 51

Docusign Envelope ID: 7D8B2F2B-EC1F-470E-87AD-9DA4176FADCF

TYNESIDE CINEMA

(A Company Limited by Guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE PERIOD ENDED 30 SEPTEMBER 2024

Trustees	B H Ashton (resigned 27 September 2023)
	J P Beirne
	C Binns (resigned 20 June 2023)
	A A Fellows (resigned 20 June 2023)
	S Nicolson
	J L Shepstone (resigned 20 June 2023)
	N J Short
	I A Watson
	I D Wright
Company registered number 1113101 Charity registered number 502592 Registered office Newe House 10 Pilgrim Street Newcastle upon Tyne NE1 6QG Chief Executive Officer Nicola Greenan Chief Financial Officer Danny Laws Independent auditors Kinnair Associates Limited Chartered Accountants Redburn Road Newcastle upon Tyne Tyne & Wear NE5 1NB

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Docusign Envelope ID: 7D8B2F2B-EC1F-470E-87AD-9DA4176FADCF

TYNESIDE CINEMA

(A Company Limited by Guarantee)

TRUSTEES' REPORT FOR THE PERIOD ENDED 30 SEPTEMBER 2024

The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements and auditors' report of the charitable company for the 18 month period ended 30 September 2024.

Structure, governance and management

Nature of governing document

The charity is a company limited by guarantee incorporated on 10 May 1973. It is governed by its memorandum and articles of association, last amended by special resolution on 30 July 2014. It is registered as a charity with the Charity Commission.

Each trustee is also a member of the charitable company. Each member undertakes to contribute to the assets of the charitable company in the event of it being wound up while they are a member, or within one year after they cease to be a member, such amount as may be required, not exceeding £10, for the debts and liabilities contracted before they ceased to be a member.

Recruitment and appointment of trustees

The directors of the company are also trustees of the charity. They are unpaid and give their time freely and generously, bringing to bear significant skills to support the staff. The board meets at least four times per year.

Trustees may serve a maximum of two consecutive terms of three years each. This ensures that the board is refreshed on a regular basis. The board has recently undertaken a trustee recruitment process. Potential applicants were invited to apply by advertisement on the charity’s website and through social media. The recruitment activity took account of advice that was sought on how best to diversify the composition of the board. All applications were reviewed by the board and a number of applicants were shortlisted and interviewed by a number of trustees. It is anticipated that a number of new trustees will be appointed shortly.

Induction and training of trustees

A formal induction programme is provided to new trustees. This includes a tour of our premises, a written induction pack which includes the charity's business plan and governing documents and a copy of the staff handbook which details all of the charity’s operational policies.

Training is provided periodically to ensure that all trustees have a good understanding of the role and responsibilities of trustees.

Arrangements for setting key management personnel remuneration

All trustees give their time freely. None of the trustees receive remuneration for their work with the charity. Details of any related party transactions are disclosed in the notes to the accounts.

The appointment of senior managers and the setting of their remuneration are matters that are reserved to the board. The remuneration of senior managers is set in the light of each individual’s skills and expertise and current market rates for equivalent roles.

Organisational structure

The Chief Executive Officer (CEO) and other senior managers are appointed by the board to manage the day to day operations of the charity.

The board meets at least four times per year. Detailed written board reports and an agenda are prepared by the senior managers of the charity and circulated in advance of meetings. Board meetings are attended by the

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Docusign Envelope ID: 7D8B2F2B-EC1F-470E-87AD-9DA4176FADCF

TYNESIDE CINEMA (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 30 SEPTEMBER 2024

Chief Executive and (as appropriate) other members of the senior leadership team. Board decisions are made by simple majority vote.

A management committee comprising a number of trustees and the senior leadership team meets on a monthly basis to review current trading activities. Following each meeting, a report is provided to the board to enable all trustees to be appraised of operational matters.

The audit and risk committee currently consists of three trustees. It meets at least twice a year and reports to the board after each meeting.

Related parties and other connected charities and organisations

Tyneside Cinema Trading Co. Ltd is a wholly owned subsidiary company whose aim is to generate profits from its operations to provide an income stream to support the charity’s charitable activities. All surpluses generated by this company that are not required for working capital purposes are donated by way of Gift Aid to the charity.

The subsidiary operates the Tyneside Bar Café and Vicolo which are situated on the ground floors of the cinema building. This subsidiary also operates an events business. This company has a licence from the charity to operate in the spaces it occupies. Some of the assets used by the subsidiary are also all owned by the charity and a fair charge is made for their use.

Services such as finance, accounting, marketing and administrative support are provided by the charity to the subsidiary. A fair charge is made for such provision.

The charity works in partnership with other charities, colleges, schools and other regional organisations to enhance the delivery and reach of its objectives.

Objective and activities

Tyneside Cinema is a cultural venue and social hub that has a unique heritage, its community value, and its place in UK independent film exhibition history. As the only full-time independent cinema in the North East of England, we play a vital part in the creative economy of Newcastle and the wider region. The group currently employs around 60 people (both full and part time). All surpluses are reinvested in support of our charitable objectives.

Our vision is to enrich the lives of people in the North East through film. Our mission is for people to be inspired, educated and entertained through the art of film. We value all aspects of film and its potential to connect, celebrate, educate, entertain and to help us make sense of our lives and the experiences of others.

Our heritage is evident in our 1930s Art Deco building, housing the last surviving newsreel theatre still showing films. Our more recent history as a ground-breaking independent cinema started in 1968 when the British Film Institute funded the reopening of the venue as the Tyneside Film Theatre and continued through the 70s, 80s and 90s. Between 2008 and 2015 the scale and profile of the cinema was developed through the addition of new screens and substantial investment in our hospitality venues, creating the opportunity for a more versatile programme and the ability to host a larger number of customers.

Fundraising disclosures

All fundraising is carried out with the full oversight of the trustees. Tyneside Cinema strives to provide an excellent service to all of our supporters and any complaints are dealt with by our service team. We continually review how we contact the public to ask for support. This ensures we follow regulations and meet our own high standards.

We take responsibility towards supporters who may be considered vulnerable very seriously. Our fundraising

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Docusign Envelope ID: 7D8B2F2B-EC1F-470E-87AD-9DA4176FADCF

TYNESIDE CINEMA (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 30 SEPTEMBER 2024

and customer service teams are trained to respond sensitively and appropriately to any individual they may consider to be vulnerable.

There was no third-party fundraising and no complaints in the period.

Public benefit

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Achievements and performance

Restructuring

The cinema reopened in August 2021 following a period of rebuilding and renovation as a consequence of the pandemic and serious flood damage sustained earlier in that year. Over the next two and half years, the group’s management team was led by one long term and then a short term interim CEO. The board had intended to appoint a permanent CEO in the first half of 2023. However, the pandemic cast a very long shadow and in common with all cinemas, our audience returned more slowly than anticipated. As a result of significantly reduced trading income in all operations, it became apparent that the group’s financial position would continue to deteriorate and the board decided to pause the CEO recruitment process until the group’s finances had stabilised.

During the 2023 calendar year steps were taken to restructure the team and implement other cost saving measures. A fundraising appeal was launched as a result of which some £100,000 was raised in donations during the 2023 calendar year (a tremendous demonstration of the important role Tyneside Cinema plays in the region). With the support of its lenders, the group’s long term debt was restructured and terms were agreed with the group’s landlord for the settlement of outstanding rent. As a result of the very significant support shown by our customers, landlord and lenders, the board was then able to negotiate and in June 2024 draw down a new £700,000 loan which has provided working capital and enabled the group to make investments in the operations.

In anticipation of the group’s long term finances being secured, the board was in a position to appoint a permanent CEO. In February 2024 Nic Greenan joined Tyneside Cinema as CEO. Nic brings more than two decades of experience in driving major strategic cultural programmes and capital projects in Yorkshire, being named Yorkshire Woman of the Year in 2017. She joined Tyneside Cinema following four successful years as Strategic Lead of City of Culture Policy & Events at Bradford MDC, where she played a pivotal role as part of the leadership team that won the UK City of Culture 2025 bid for Bradford. She also led on the successful bid to bring Brit School North to Bradford, and was instrumental in the development of The Unit, a new screen talent hub in partnership with Channel 4.

As a result of these positive developments, £545,000 of grants from the British Film Institute (BFI) and The National Lottery Heritage Fund were confirmed which will help to fund a new audience development programme focused on film, music and food and also improve our Grade II-listed venue's carbon footprint.

Cinema

The cinema and our hospitality venues reopened in August 2021 since when audience numbers have gradually increased, but are still at a lower level than before the pandemic. We are now focused on building an audience base for the future and the development of a clear organisational personality that leverages our difference as a unique, independent space for film.

Despite the financial and operation challenges that we continued to face during the period to September 2024, we worked hard to ensure that the Tyneside Cinema continued to be a home for great independent film, with a

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Docusign Envelope ID: 7D8B2F2B-EC1F-470E-87AD-9DA4176FADCF

TYNESIDE CINEMA (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 30 SEPTEMBER 2024

broad and diverse programme with appeal for a wide variety of audiences. We did this by hosting over 8,000 film screenings of more than 800 different films, representing more than 50 countries, from new releases to bold original programmes focused on a diverse range of themes in addition to our well established and much loved Halloween and Christmas programmes.

The business model for cinemas is very challenging with up to 60% of box office income being payable to film distributors. The pandemic has resulted in a change in customer behaviour. We cannot compete on price with home streaming and we do not believe it is appropriate to try to do so. Our challenge is to continue to show our audiences that the cinema experience is wholly different from watching a film at home. That means reminding returning customers and showing new customers what makes the traditional cinema experience so unique and what it feels like to watch a film in a heritage cinema. At the Tyneside Cinema we provide something that cannot be recreated at home: the excitement of going to see an eagerly anticipated new release film (who can forget the buzz of Barbie and Oppenheimer in 2023?) or a familiar, much loved classic (perhaps on 35mm film), sharing that experience with friends, family and neighbours in a packed cinema auditorium, making new memories, remembering the first film you saw at the cinema.

We remain committed to continuing to provide that special cinema experience as we have done for nearly 90 years. But that does mean that we have to charge a fair price that enables us to operate on a sustainable basis, so that we can continue to show film current and future generations. We continue to offer very significantly discounted prices for customers receiving universal credit, people in full time education, young people aged 16 and under, senior citizens and disabled people. We also provide dementia friendly and parent and child screenings together with targeted concessions for particular sections of our communities.

Events

Our building has a long and deep heritage and is a historically important part of the history of cinema in the region. While our cinemas are primarily used to show films to our audiences, the cinema building is available to hire as a venue for businesses and other organisations, film premieres, private parties and other events. There are opportunities to grow this activity without impinging on our public film programme and we see this as an important part of how Tyneside Cinema will establish a sound financial foundation.

Hospitality

Our hospitality business delivers important elements of our social and community ambitions by offering welcoming spaces in which to eat and drink. We see significant potential to develop and grow the profits generated by our hospitality venues which are an important part of how we finance our charitable activities. We will ensure that we remain commercially focused while continuing to provide a varied range of options for our customers in a safe environment in the city centre.

Engagement

In December 2022 Arts Council England announced that we had been unsuccessful in our application for core funding for our engagement programme. Sadly this meant that during 2023 it was necessary to pause our delivery of that programme.

We are very proud of the collaborations and participatory projects with individuals, groups and communities that we have delivered. Our engagement activity included artist commissions, participatory projects with children, young people and adults from diverse communities and backgrounds together with events for the public and creative communities of the North East.

As the group’s finances stabilise, we remain very focused on generating surpluses from our business operations to invest in projects that ensure that we reach as many communities as possible in our region. We also intend to work with a broad range of funders so that we can grow our engagement activities on a sustainable basis with the intention of broadening and deepening this work which is a vital part of our role in our city and our

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Docusign Envelope ID: 7D8B2F2B-EC1F-470E-87AD-9DA4176FADCF

TYNESIDE CINEMA (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 30 SEPTEMBER 2024

region.

Employment

Tyneside Cinema is a Real Living Wage employer. Although this puts some of our operations at a competitive disadvantage when compared with other venues in the city, we believe that it is important that we continue to provide good, flexible employment opportunities on fair terms. We intend to ensure that as our operations grow and develop, we take active steps to make new employment opportunities accessible to all our communities.

Financial review

It continues to be a challenging time for Tyneside Cinema with audience numbers that although they are growing, remain significantly below pre-pandemic levels. We generate the vast majority of our income from our cinema, events and hospitality operations. During the 18 month period ended 30 September 2024 our income split was 94% earned and 6% grant income.

The charity made a deficit during the 18 month period of £1,203,517 (2023: £1,219,441) of which £696,219 was depreciation (2023: 482,891).

The cash balance at the end of the period was £478,036. The group’s financial position was strengthened by our proactive action to reduce our cost base and implement efficiencies where possible and was further improved in June 2024 by the drawdown of a new £700,000 loan and the restructuring of existing long term loans and short term debts.

At the period end, the total funds of the group amounted to £277,136. However the majority is not freely available because the balance is invested in fixed assets or has a restriction for other purposes. The wholly owned subsidiary Tyneside Cinema Trading Co. Ltd. made a profit of £69,249 (2023: £59,330 loss).

Reserves policy

The funds of the group as of 30 September 2024 were £277,136, of which £1,151,480 were restricted. Unrestricted funds include designated funds of £nil and fixed assets of £761,326. Consequently, free unrestricted funds are in deficit by £1,685,670.

The trustees regularly review the reserve levels to ensure that they are appropriate. This review encompasses the nature of income and expenditure streams, the need to match income with commitments and the nature of reserves.

I nvestment policy and powers

Under its articles of association, the charity has the power to invest in any way the trustees wish.

Plans for future periods

Our plan for the future is to build our audiences, business skills and our resilience. We have a highly competent management team and a dedicated, confident staff. On this basis we are building our business to ensure we achieve maximum revenue, margins and cultural value for our beneficiaries and we aim to be recognised as an exemplary employer. We will continue to develop the role and contribution of our board of trustees, linking them more closely with our senior leadership team to develop strategy and plans.

Tyneside Cinema is a unique organisation that is vital to the cultural landscape of Newcastle and the North East. Through film, learning and hospitality we will continue to serve our audiences and guests as a world-class cinema and cultural venue.

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Docusign Envelope ID: 7D8B2F2B-EC1F-470E-87AD-9DA4176FADCF

TYNESIDE CINEMA (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 30 SEPTEMBER 2024

Chair's overview

The last four years have been challenging for any organisation in the cultural sector. Independent cinemas across the country have contended with forced closures, reduced capacities and then many people were hesitant to return to cinema spaces post-COVID. On top of that, the studios weren’t producing films at their usual pace due to the pandemic and the 2023 Writers Guild of America strike. As a result, there simply wasn’t the number of new releases that one would typically expect over the last two years and as a result it has been a real struggle for venues such as ours. The additional complications of rampant inflation and a very real cost of living crisis mean that in my time as chair, we have had to contend with one of the most challenging periods in Tyneside Cinema’s near 90 year history.

I took on the role of chair in the autumn of 2021 and new trustees joined the board in early 2022 and 2023. This small, dedicated group of trustees has guided the organisation through a financial storm as severe as any in recent decades. But through perseverance and a clear strategic focus, our trustees and the staff team have helped bring us to a place of stability.

In February 2024 Nic Greenan joined us as chief executive and in the last year she has made an enormous positive impact, recruited an entirely new senior team and has very exciting plans for the future of the organisation. I am deeply grateful to the funders who stood by us during my time as chair: Northstar Ventures, Newcastle City Council, the British Film Institute, the National Lottery Heritage Fund and the Sir James Knott Trust. Of course, I also want to extend my thanks to the incredible staff team for their patience and resilience, to my fellow trustees for their calm strategic advice and most of all to our audiences, (many of whom contributed to our fundraising campaign as we worked to secure new funds). It has been a collective job that has been really well done. I plan to step down from the board shortly and as I hand over the reins to a new chair and a new group of trustees, I really feel that Tyneside Cinema is well positioned to not just survive, but to thrive and prosper in the future and to be a truly wonderful asset for our community.

Going concern

The charity’s detailed medium term forecasts indicate that the charity is able to continue as a going concern. These forecasts include assumptions regarding increases in admissions (lower than current UK Box Office growth forecasts) and other hospitality income. With a stronger and evenly spread 2025 and 2026 film release schedule, the continued recovery of post pandemic audiences, and sustained demand for City centre hospitality and event spaces, the sensitised growth modelled is considered to be achievable

The £700,000 loan drawn down from the North East Social Fund in June 2024, ongoing grants awarded from British Film Institute and the National Lottery Heritage Fund and the renegotiated repayment terms on other long term loans have provided the resources to support the implementation of the plan that is intended to generate additional trading surpluses. This plan assumes that audience numbers will increase (but not necessarily to pre-pandemic levels) and that the profitability of our hospitality and events operations grows independently of the number of cinema admissions.

The trustees and the senior leadership team continue to investigate opportunities to accelerate the long term sustainability of the charity through operational efficiencies. The realignment of staff roles and responsibilities and the review of contracted services have already yielded significant recurring annual cost savings.

The trustees therefore consider the going concern assumption to be appropriate.

Statement of trustees' responsibilities

The trustees (who are also the directors of Tyneside Cinema for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including FRS 102

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Docusign Envelope ID: 7D8B2F2B-EC1F-470E-87AD-9DA4176FADCF

TYNESIDE CINEMA (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 30 SEPTEMBER 2024

"The Financial Reporting Standard applicable in the UK and Republic of Ireland".

Company law requires the trustees to prepare financial statements for each financial period. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the parent charitable company and the group and of the incoming resources and application of resources, including its income and expenditure, of the charitable group for that period. In preparing these financial statements, the trustees are required to:

• select suitable accounting policies and apply them consistently;

• observe the methods and principles in the Charities SORP;

• make judgements and estimates that are reasonable and prudent;

• state whether applicable accounting standards, comprising FRS 102 have been 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

• parent charitable company will continue in business.

The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the parent charitable company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the parent charitable company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Disclosure of information to auditor

Each trustee has taken steps that they ought to have taken as a trustee in order to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. The trustees confirm that there is no relevant information that they know of and of which they know the auditor is unaware.

Reappointment of auditor

Kinnair Associates Limited were appointed auditor to the company on 5 January 2025.

In accordance with section 485 of the Companies Act 2006, a decision to appoint auditors will be made at the forthcoming annual general meeting.

Approved by order of the members of the board of Trustees on 25 April 2025 and signed on their behalf by:

J P Beirne Chair

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Docusign Envelope ID: 7D8B2F2B-EC1F-470E-87AD-9DA4176FADCF

TYNESIDE CINEMA

(A Company Limited by Guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF TYNESIDE CINEMA

Opinion

We have audited the financial statements of Tyneside Cinema (the 'parent charitable company') and its subsidiary (the 'Group') for the period ended 30 September 2024 which comprise the Consolidated Statement of Financial Activities, the Consolidated Income and Expenditure Account, the Consolidated Balance Sheet, the Company Balance Sheet, the Consolidated Statement of Cash Flows and the related notes, 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, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

• give a true and fair view of the state of the Group's and of the parent charitable company's affairs as at 30 September 2024 and of the Group's incoming resources and application of resources, including its income and expenditure for the period then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities Act 2011.

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 Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

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

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TYNESIDE CINEMA (A Company Limited by Guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF TYNESIDE CINEMA (CONTINUED)

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The Trustees are responsible for the other information contained within the Annual Report. 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. 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 course of 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.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

• the information given in the Trustees' Report for the financial period for which the financial statements are prepared is consistent with the financial statements.

• the Trustees' Report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of our 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 Trustees' Report.

We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:

• the parent charitable company has not kept adequate and sufficient accounting records, or returns adequate for our audit have not been received from branches not visited by us; or

• the parent charitable company financial statements are not in agreement with the accounting records and returns; or

• certain disclosures of Trustees' remuneration specified by law are not made; or

• we have not received all the information and explanations we require for our audit; or

• the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Trustees' Report and from the requirement to prepare a Strategic Report.

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Docusign Envelope ID: 7D8B2F2B-EC1F-470E-87AD-9DA4176FADCF

TYNESIDE CINEMA

(A Company Limited by Guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF TYNESIDE CINEMA (CONTINUED)

Responsibilities of trustees

As explained more fully in the Trustees' Responsibilities Statement, 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 Group's and the parent 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 Group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.

Auditors' 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 an Auditors' Report 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

• the engagement director ensured that the engagement team collectively have the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

• we identified the laws and regulations applicable to the Group through discussions with trustees and other management, and from our commercial knowledge and experience of the culture sector;

• we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the Group, including the Companies Act 2006, Charities Act 2011 et seq., the Charities (Protection and Social Investment) Act 2016, the Trustees Acts 1925 and 2000 and Charity Commission regulation and other legislation identified as being of significance in the context of the entity e.g. taxation legislation, data protection, anti-bribery, employment, environmental and health and safety legislation;

• we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and requesting legal correspondence; and

• we ensured that the identified laws and regulations were communicated within the audit team regularly.

We assessed the susceptibility of the Group’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by: -

• making enquiries of management as to where they considered there was susceptibility to fraud and their knowledge of actual, suspected and alleged fraud; and

• considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we: -

• performed analytical procedures to identify any unusual or unexpected relationships;

• tested journal entries to identify unusual transactions; and

• assessed whether judgements and assumptions made in determining the accounting estimates set out in the notes to the financial statements are indicative of potential bias;

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Docusign Envelope ID: 7D8B2F2B-EC1F-470E-87AD-9DA4176FADCF

TYNESIDE CINEMA

(A Company Limited by Guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF TYNESIDE CINEMA (CONTINUED)

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to: -

• agreeing financial statement disclosures to underlying supporting documentation;

• reading the minutes of meetings of those charged with governance;

• enquiring of management as to actual and potential litigation and claims; and

• requesting correspondence with HMRC, The Charity Commission and the Group’s legal advisors.

There are inherent limitations in our anticipated audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of noncompliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

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 Auditors' Report.

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, and to the charitable company's trustees, as a body, Part 4 of the Charities (Accounts and Reports) Regulations 2008. 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 its members, as a body, for our audit work, for this report, or for the opinions we have formed.

Detlev Anderson (Senior Statutory Auditor)

for and on behalf of

Kinnair Associates Limited

Chartered Accountants Statutory Auditors

Redburn Road

Newcastle upon Tyne

Tyne & Wear

NE5 1NB

28 April 2025

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TYNESIDE CINEMA (A Company Limited by Guarantee)

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD ENDED 30 SEPTEMBER 2024

Unrestricted funds 18 months ended 30 September 2024 Restricted funds 18 months ended 30 September 2024 Total funds 18 months ended 30 September 2024 Note £ £ £ Income from: Donations and legacies 4 149,877 276,076 425,953 Charitable activities 5 2,263,918 - 2,263,918 Other trading activities 7 1,584,959 - 1,584,959 Other income - - - Total income 3,998,754 276,076 4,274,830 Expenditure on: Raising funds 8 1,774,049 - 1,774,049 Charitable activities 9 2,843,455 860,843 3,704,298 Total expenditure 4,617,504 860,843 5,478,347 Net movement in funds (618,750) (584,767) (1,203,517) Reconciliation of funds: Total funds brought forward (305,593) 1,736,247 1,430,654 Net movement in funds (618,750) (584,767) (1,203,517) Total funds carried forward (924,343) 1,151,480 227,137

As restated Total funds 12 months ended 31 March 2023 £ 405,772 1,310,534 1,078,991 9,258 2,804,555 1,257,791 2,766,205 4,023,996 (1,219,441) 2,650,095 (1,219,441) 1,430,654

The Consolidated Statement of Financial Activities includes all gains and losses recognised in the period.

The notes on pages 20 to 51 form part of these financial statements.

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TYNESIDE CINEMA

(A Company Limited by Guarantee)

SUMMARY INCOME AND EXPENDITURE ACCOUNT FOR THE PERIOD ENDED 30 SEPTEMBER 2024

Total funds 18 months ended 30 September Note 2024 £ Gross income in the reporting period 4,274,830 Less: Total expenditure (5,478,347) Net expenditure for the reporting period (1,203,517)	Total funds 12 months ended 31 March 2023 £ 2,804,555 (4,023,996) (1,219,441)

The notes on pages 20 to 51 form part of these financial statements.

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TYNESIDE CINEMA (A Company Limited by Guarantee) REGISTERED NUMBER: 1113101

CONSOLIDATED BALANCE SHEET AS AT 30 SEPTEMBER 2024

Note Fixed assets Intangible assets 15 Tangible assets 16 Investments 17 Current assets Stocks 18 Debtors 19 Cash at bank and in hand Creditors: amounts falling due within one year 20 Net current liabilities Total assets less current liabilities Creditors: amounts falling due after more than one year 21 Provisions for liabilities Net assets excluding pension asset Total net assets Charity funds Restricted funds 24 Unrestricted funds 24 Total funds	17,582 92,069 478,036 587,687 (882,079)	30 September 2024 £ - 1,865,306 10,000 1,875,306 (294,392) 1,580,914 (1,351,249) (2,529) 227,136 227,136 1,151,480 (924,344) 227,136	21,053 135,218 359,444 515,715 (914,350)	31 March 2023 £ 2,064 2,555,230 10,000 2,567,294 (398,635) 2,168,659 (735,476) (2,529) 1,430,654 1,430,654 1,736,247 (305,593) 1,430,654

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

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TYNESIDE CINEMA (A Company Limited by Guarantee) REGISTERED NUMBER: 1113101

CONSOLIDATED BALANCE SHEET (CONTINUED) AS AT 30 SEPTEMBER 2024

The financial statements were approved and authorised for issue by the Trustees on 25 April 2025 and signed on their behalf by:

J P Beirne Chair

The notes on pages 20 to 51 form part of these financial statements.

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TYNESIDE CINEMA (A Company Limited by Guarantee) REGISTERED NUMBER: 1113101

COMPANY BALANCE SHEET AS AT 30 SEPTEMBER 2024

Note Fixed assets Intangible assets 15 Tangible assets 16 Investments 17 Current assets Stocks 18 Debtors 19 Cash at bank and in hand Creditors: amounts falling due within one year 20 Net current liabilities Total assets less current liabilities Creditors: amounts falling due after more than one year 21 Net assets excluding pension asset Total net assets Charity funds Restricted funds 24 Unrestricted funds 24 Total funds	1,626 110,341 413,415 525,382 (613,500)	30 September 2024 £ - 1,821,126 10,001 1,831,127 (88,118) 1,743,009 (1,308,794) 434,215 434,215 1,161,127 (726,912) 434,215	- 466,670 97,857 564,527 (671,013)	31 March 2023 £ 2,064 2,478,546 10,001 2,490,611 (106,486) 2,384,125 (677,143) 1,706,982 1,706,982 1,736,247 (29,265) 1,706,982

The Company's net movement in funds for the period was £ (1,272,767) (2023 - £(1,160,111)) .

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

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TYNESIDE CINEMA (A Company Limited by Guarantee) REGISTERED NUMBER: 1113101

COMPANY BALANCE SHEET (CONTINUED) AS AT 30 SEPTEMBER 2024

The financial statements were approved and authorised for issue by the Trustees on 25 April 2025 and signed on their behalf by:

J P Beirne Chair

The notes on pages 20 to 51 form part of these financial statements.

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TYNESIDE CINEMA

(A Company Limited by Guarantee)

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE PERIOD ENDED 30 SEPTEMBER 2024

Note Cash flows from operating activities Net cash used in operating activities 27 Cash flows from investing activities Proceeds from the sale of tangible fixed assets Purchase of tangible fixed assets Net cash used in investing activities Cash flows from financing activities Cash inflows from new borrowing Repayments of borrowing Net cash provided by/(used in) financing activities Change in cash and cash equivalents in the period Cash and cash equivalents at the beginning of the period Cash and cash equivalents at the end of the period 28 The notes on pages 20 to 51 form part of these financial statements	18 months ended 30 September 2024 £ (393,136) - (37,599) (37,599) 700,000 (150,673) 549,327 118,592 359,444 478,036	12 months ended 31 March 2023 £ (572,651) 933 (35,048) (34,115) - (165,064) (165,064) (771,830) 1,131,274 359,444

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TYNESIDE CINEMA (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2024

1. General information

The charity is a company limited by guarantee, incorporated in England and Wales (company number 1113101) and consequently does not have share capital (referred to in these financial statements and reports as the "charity" and the "company"). Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation. The entity is also registered with the Charity Commission in England and Wales (charity number 502592).

The registered office is at Newe House, 10 Pilgrim Street, Newcastle upon Tyne, NE1 6QG.

2. Accounting policies

2.1 Restatement of costs and income analysis

The analysis of some costs and income within the financial statements has been amended to better reflect the underlying nature of those transactions. Comparative figures for the prior period have been restated accordingly. No change to the prior year net results arises from this amendment.

2.2 Basis of preparation of financial statements

The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Tyneside Cinema meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

The Consolidated Statement of Financial Activities (SOFA) and Consolidated Balance Sheet consolidate the financial statements of the Company and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis.

The financial statements are prepared in sterling which is the functional currency of the entity and rounded to the nearest pound.

2.3 Basis of consolidation

The consolidated financial statements consolidate the financial statements of the charity and its subsidiary undertakings drawn up to 30 September 2024.

No statement of financial activities is presented for the charity as permitted by Section 408 of the Companies Act 2006. The charity made a deficit for the financial period of £1,272,767 (2023: deficit of £1,160,113).

A subsidiary is an entity controlled by the charity. Control is achieved where the charity has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities.

Inter-company transactions and balances are eliminated in full.

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TYNESIDE CINEMA

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2024

2. Accounting policies (continued)

2.4 Going concern

The charity’s detailed medium term forecasts indicate that the charity is able to continue as a going concern. These forecasts include assumptions regarding increases in admissions (lower than current UK Box Office growth forecasts) and other hospitality income. With a stronger and evenly spread 2025 and 2026 film release schedule, the continued recovery of post pandemic audiences, and sustained demand for City centre hospitality and event spaces, the sensitised growth modelled in the forecasts is considered to be realistic and achievable.

The £700,000 loan drawn down from the North East Social Fund in June 2024, ongoing grants awarded from British Film Institute and the National Lottery Heritage Fund and the renegotiated repayment terms on other long term loans have provided the resources to support the implementation of the plan that is intended to generate additional trading surpluses. This plan assumes that audience numbers will increase (but not necessarily to pre-pandemic levels) and that the profitability of our hospitality and events operations grows independently of the number of cinema admissions.

The trustees and the senior leadership team continue to investigate opportunities to accelerate the long term sustainability of the charity through operational efficiencies. The realignment of staff roles and responsibilities and the review of contracted services have already yielded significant recurring annual cost savings.

The trustees therefore consider the going concern assumption to be appropriate.

2.5 Income

All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within control of the charity and it is probable that these conditions will be fulfilled in the reporting period.

Grants are recognised when the group has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.

Income received in advance for shows are deferred until the screening or performance actually takes place.

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

2.6 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in

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(A Company Limited by Guarantee)

TYNESIDE CINEMA

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2024

2. Accounting policies (continued)

2.6 Expenditure (continued)

settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on raising funds includes all expenditure incurred by the Group to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

Governance costs include the costs attributable to the charity's compliance with constitutional and statutory requirements, including audit, strategic management and trustees' meetings and reimbursed expenses.

All expenditure is inclusive of irrecoverable VAT.

2.7 Government grants

Government grants are recognised on the performance model and are measured at the fair value of the asset received or receivable. Grants are recognised in income once the performance conditions of entitlement are met.

2.8 Taxation

The Company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

2.9 Intangible assets - Website

Intangible assets are stated in the balance sheet at cost less accumulated amortisation and impairment. They are amortised on a straight line basis over their estimated useful lives..

Amortisation is provided on intangible assets at rates calculated to write off the cost of each asset on a straight-line basis over its expected useful life.

Amortisation is provided on the following basis:

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TYNESIDE CINEMA (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2024

2. Accounting policies (continued)

2.9 Intangible assets - Website (continued)

Website Costs

• % 3 - 5 years straight line

2.10 Tangible fixed assets and depreciation

Tangible fixed assets costing £100 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following bases:

Long-term leasehold property - Over the term of the lease - Fixtures and fittings 10-33% straight line - Office equipment 20% straight line - Computer equipment 20-33% straight line

2.11 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Consolidated Statement of Financial Activities.

Investments in subsidiaries are valued at cost less provision for impairment.

Investments held as fixed assets are shown at cost less provision for impairment.

2.12 Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost is determined using the first-in, first-out (FIFO) basis.

2.13 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.14 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

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Docusign Envelope ID: 7D8B2F2B-EC1F-470E-87AD-9DA4176FADCF

TYNESIDE CINEMA

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2024

2. Accounting policies (continued)

2.15 Liabilities

Liabilities and provisions are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

2.16 Deferred taxation

Full provision is made for deferred tax assets and liabilities arising from all timing differences between the recognition of gains and losses in the financial statements and recognition in the tax computation.

A net deferred tax asset is recognised only if it can be regarded as more likely than not that there will be suitable taxable surpluses from which the future reversal of the underlying timing differences can be deducted.

Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the time the timing differences are expected to reverse.

2.17 Financial instruments

The Group only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.18 Operating leases

Rentals paid under operating leases are charged to the Consolidated Statement of Financial Activities on a straight-line basis over the lease term.

2.19 Pensions

The Group operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Group to the fund in respect of the period.

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TYNESIDE CINEMA (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2024

2. Accounting policies (continued)

2.20 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Group and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Group for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

3. Critical accounting estimates and areas of judgment

The preparation of the financial statements requires management to make judgments, estimates and assumptions that affect the amounts reported. These estimates and judgments are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

There are considered to be no significant judgments (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies which effect the amounts recognised in the financial statements.

4. Income from donations and legacies

Unrestricted funds 18 months ended 30 September 2024 £ Donations 149,877 Grants - 149,877	Restricted funds 18 months ended 30 September 2024 £ - 276,076 276,076	Total funds 18 months ended 30 September 2024 £ 149,877 276,076
		425,953

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Docusign Envelope ID: 7D8B2F2B-EC1F-470E-87AD-9DA4176FADCF

TYNESIDE CINEMA (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2024

4. Income from donations and legacies (continued)

Donations Grants	Unrestricted funds 12 months ended 31 March 2023 £ 34,290 130,162 164,452	Restricted funds 12 months ended 31 March 2023 £ - 241,320 241,320	Total funds 12 months ended 31 March 2023 £ 34,290 371,482
			405,772

5. Income from charitable activities

Unrestricted funds 18 months ended 30 September 2024 £ Income from charitable activities - Charitable Income 2,263,918 Unrestricted funds 12 months ended 31 March 2023 £ Income from charitable activities - Charitable Income 1,310,534	Total funds 18 months ended 30 September 2024 £ 2,263,918
	Total funds 12 months ended 31 March 2023 £ 1,310,534

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Docusign Envelope ID: 7D8B2F2B-EC1F-470E-87AD-9DA4176FADCF

TYNESIDE CINEMA (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2024

6. Income from charitable activities

Unrestricted funds 18 months ended 30 September 2024 £ Cinema Activities 1,620,366 Food and drink sales 219,433 Facilities hire 173,149 Advertising 66,691 Memberships 184,279 2,263,918 Unrestricted funds 12 months ended 31 March 2023 £ Cinema Activities 868,074 Food and drink sales 134,530 Facilities hire 167,770 Advertising 43,985 Memberships 81,595 Commission 14,580 1,310,534	Total funds 18 months ended 30 September 2024 £ 1,620,366 219,433 173,149 66,691 184,279
	2,263,918
	Total funds 12 months ended 31 March 2023 £ 868,074 134,530 167,770 43,985 81,595 14,580
	1,310,534

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Docusign Envelope ID: 7D8B2F2B-EC1F-470E-87AD-9DA4176FADCF

TYNESIDE CINEMA (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2024

7. Income from other trading activities

Income from non charitable trading activities

Unrestricted funds 18 months ended 30 September 2024 £ Trading income - Tyneside Cinema Trading Co. Ltd 1,584,959 Unrestricted funds 12 months ended 31 March 2023 £ Trading income - Tyneside Cinema Trading Co. Ltd 1,072,368 Other trading income 6,623 1,078,991	Total funds 18 months ended 30 September 2024 £ 1,584,959
	Total funds 12 months ended 31 March 2023 £ 1,072,368 6,623
	1,078,991

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Docusign Envelope ID: 7D8B2F2B-EC1F-470E-87AD-9DA4176FADCF

TYNESIDE CINEMA (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2024

8. Expenditure on raising funds

Fundraising trading expenses

Unrestricted funds 18 months ended 30 September 2024 £ Cost of sales 519,324 Establishment costs 173,475 General administrative expenses 61,934 Finance charges 34,363 Interest payable 9,083 Wages and salaries 793,582 NI 46,534 Pension costs 12,426 Depreciation 33,367 Allocated centrally incurred fundraising and governance costs 89,961 1,774,049	Total funds 18 months ended 30 September 2024 £ 519,324 173,475 61,934 34,363 9,083 793,582 46,534 12,426 33,367 89,961
	1,774,049

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Docusign Envelope ID: 7D8B2F2B-EC1F-470E-87AD-9DA4176FADCF

TYNESIDE CINEMA

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2024

8. Expenditure on raising funds (continued) Fundraising trading expenses (continued)

Fundraising trading - cost of sales Fundraising trading - establishment costs Fundraising trading expense - general administrative expenses Fundraising trading expense - finance charges Fundraising trading expense - interest payable Fundraising trading expenses - wages and salaries Fundraising trading expenses - NI Fundraising trading expenses - pension costs Fundraising trading expenses - depreciation	As restated Unrestricted funds 12 months ended 31 March 2023 £ 399,056 100,998 36,343 10,428 5,694 628,084 43,778 10,890 22,520 1,257,791	As restated Total funds 12 months ended 31 March 2023 £ 399,056 100,998 36,343 10,428 5,694 628,084 43,778 10,890 22,520
		1,257,791

9. Analysis of expenditure on charitable activities

Summary by fund type

	Unrestricted	Restricted
	funds	funds	Total
	18 months	18 months	18 months
	ended	ended	ended
	30	30	30
	September	September	September
	2024	2024	2024
	£	£	£
Charitable Income	2,843,455	860,843	3,704,298

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Docusign Envelope ID: 7D8B2F2B-EC1F-470E-87AD-9DA4176FADCF

TYNESIDE CINEMA (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2024

9. Analysis of expenditure on charitable activities (continued)

Summary by fund type (continued)

Charitable Income Analysis of expenditure by activities Charitable Income Charitable Income	As restated Unrestricted funds 12 months ended 31 March 2023 £ 2,078,420 Activities undertaken directly 18 months ended 30 September 2024 £ 1,857,598 As restated Activities undertaken directly 12 months ended 31 March 2023 £ 1,618,728	Restricted funds 12 months ended 31 March 2023 £ 687,785 Support costs 18 months ended 30 September 2024 £ 1,846,700 As restated Support costs 12 months ended 31 March 2023 £ 1,147,477	As restated Total 12 months ended 31 March 2023 £ 2,766,205
			Total funds 18 months ended 30 September 2024 £ 3,704,298
			As restated Total funds 12 months ended 31 March 2023 £ 2,766,205

10. Analysis of expenditure by activities

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Docusign Envelope ID: 7D8B2F2B-EC1F-470E-87AD-9DA4176FADCF

TYNESIDE CINEMA

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2024

10. Analysis of expenditure by activities (continued)

Analysis of direct costs

Staff costs Direct - Premises costs Direct - Activity costs Other staff costs Staff costs Direct - Premises costs Direct - Activity costs Other staff costs	Charitable Income 18 months ended 30 September 2024 £ 1,049,789 13,427 789,244 5,138 1,857,598 As restated Charitable Income 12 months ended 31 March 2023 £ 1,133,213 12,204 469,441 3,870 1,618,728	Total funds 18 months ended 30 September 2024 £ 1,049,789 13,427 789,244 5,138
		1,857,598
		As restated Total funds 12 months ended 31 March 2023 £ 1,133,213 12,204 469,441 3,870
		1,618,728

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Docusign Envelope ID: 7D8B2F2B-EC1F-470E-87AD-9DA4176FADCF

TYNESIDE CINEMA

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2024

10. Analysis of expenditure by activities (continued)

Analysis of support costs

Depreciation Premises costs Operating lease charges Other support costs Governance - Audit fees Governance - Other costs Depreciation Premises costs Operating lease charges Other support costs Governance - Audit fees Governance - Other costs	Charitable Income 18 months ended 30 September 2024 £ 696,219 655,092 91,272 358,094 25,702 20,321 1,846,700 As restated Charitable Income 12 months ended 31 March 2023 £ 482,891 382,100 59,318 208,767 10,450 3,951 1,147,477	Total funds 18 months ended 30 September 2024 £ 696,219 655,092 91,272 358,094 25,702 20,321
		1,846,700
		As restated Total funds 12 months ended 31 March 2023 £ 482,891 382,100 59,318 208,767 10,450 3,951
		1,147,477

11. Auditors' remuneration

- The auditors' remuneration amounts to an auditor fee of £9,000 (2023 £15,200) , and other fees in connection with the preparation of the financial statements of the group and subsidiary and for the preparation of a corporation tax return of £3,275 ( 2023 - £ - ).

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Docusign Envelope ID: 7D8B2F2B-EC1F-470E-87AD-9DA4176FADCF

TYNESIDE CINEMA (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2024

12. Staff costs

Wages and salaries Social security costs Contribution to defined contribution pension schemes	Group 18 months ended 30 September 2024 £ 1,833,227 127,471 31,594 1,992,292	Group As restated 12 months ended 31 March 2023 £ 1,652,110 133,750 30,106 1,815,966	Company 18 months ended 30 September 2024 £ 1,039,645 80,937 19,168 1,139,750	Company As restated 12 months ended 31 March 2023 £ 1,024,026 89,972 19,216
				1,133,214

The average number of persons employed by the Company during the period was as follows:

Charitable activities and raising funds Management and administration	Group 18 months ended 30 September 2024 No. 57 6 63	Group 12 months ended 31 March 2023 No. 71 8
		79

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

		Group
		18 months	Group
		ended	12 months
		30	ended
		September	31 March
		2024	2023
		No.	No.
In the band £80,001	- £90,000	-	1

The total employee benefits of the key management personnel of the group were £93,379 (2023: £135,245).

Page 34

Docusign Envelope ID: 7D8B2F2B-EC1F-470E-87AD-9DA4176FADCF

TYNESIDE CINEMA

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2024

13. Trustees' remuneration and expenses

During the period, no Trustees received any remuneration or other benefits (2023 - £NIL) .

During the period ended 30 September 2024, no Trustee expenses have been incurred (2023 - £NIL) .

14. Taxation

The group is a registered charity and is therefore potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

15. Intangible assets

Group Cost At 1 April 2023 At 30 September 2024 Amortisation At 1 April 2023 Charge for the year At 30 September 2024 Net book value At 30 September 2024 At 31 March 2023	Website £ 55,856
	55,856
	53,792 2,064
	55,856
	-
	2,064

Page 35

Docusign Envelope ID: 7D8B2F2B-EC1F-470E-87AD-9DA4176FADCF

TYNESIDE CINEMA

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2024

15. Intangible assets (continued) Company Cost At 1 April 2023 At 30 September 2024 Amortisation At 1 April 2023 Charge for the period At 30 September 2024 Net book value At 30 September 2024 At 31 March 2023	Computer software £ 55,856
	55,856
	53,792 2,064
	55,856
	-
	2,064

Page 36

Docusign Envelope ID: 7D8B2F2B-EC1F-470E-87AD-9DA4176FADCF

TYNESIDE CINEMA

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2024

16. Tangible fixed assets

Group

Cost or valuation At 1 April 2023 Additions At 30 September 2024 Depreciation At 1 April 2023 Charge for the period At 30 September 2024 Net book value At 30 September 2024 At 31 March 2023 Company	Long-term leasehold property £ 8,155,687 - 8,155,687 5,801,253 651,143 6,452,396 1,703,291 2,354,434	Fixtures and fittings £ 355,709 29,609 385,318 193,761 63,980 257,741 127,577 161,948	Cinema technical equipment £ 137,690 7,990 145,680 98,842 12,400 111,242 34,438 38,848	Total £ 8,649,086 37,599
				8,686,685
				6,093,856 727,523
				6,821,379
				1,865,306
				2,555,230

Cost or valuation At 1 April 2023 Additions At 30 September 2024	Long-term leasehold property £ 8,155,687 - 8,155,687	Fixtures and fittings £ 219,342 28,746 248,088	Cinema technical equipment £ 137,690 7,990 145,680	Total £ 8,512,719 36,736
				8,549,455

Page 37

Docusign Envelope ID: 7D8B2F2B-EC1F-470E-87AD-9DA4176FADCF

TYNESIDE CINEMA

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2024

16. Tangible fixed assets (continued)

Company (continued)

Depreciation At 1 April 2023 Charge for the period At 30 September 2024 Net book value At 30 September 2024 At 31 March 2023 17. Fixed asset investments Group Cost or valuation At 1 April 2023 At 30 September 2024 Net book value At 30 September 2024 At 31 March 2023	Long-term leasehold property £ 5,801,253 651,143 6,452,396 1,703,291 2,354,434	Fixtures and fittings £ 134,078 30,613 164,691 83,397 85,264	Cinema technical equipment £ 98,842 12,400 111,242 34,438 38,848	Total £ 6,034,173 694,156
				6,728,329
				1,821,126
				2,478,546
				Artwork £ 10,000
				10,000
				10,000
				10,000

Page 38

Docusign Envelope ID: 7D8B2F2B-EC1F-470E-87AD-9DA4176FADCF

TYNESIDE CINEMA

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2024

17. Fixed asset investments (continued)

Company Cost or valuation At 1 April 2023 At 30 September 2024 Net book value At 30 September 2024 At 31 March 2023	Investments in subsidiary companies £ 1 1 1 1	Artwork £ 10,000 10,000 10,000 10,000	Total £ 10,001
			10,001
			10,001
			10,001

The company owns the entire £1 share capital of Tyneside Cinema Trading Co. Ltd (company number 8804734), which is incorporated in England and Wales. See below for further details.

The artwork is a piece of visual art called the Mariner 9 commissioned by the charity from the artist Kelly Richardson.

Principal subsidiaries

The following was a subsidiary undertaking of the Company:

Name			Company	Registered office or principal	Principal activity
			number	place of business
Tyneside	Cinema Trading	Co.	8804734	Newe House, 10 Pilgrim Street,	Operation of licensed
Ltd				Newcastle upon Tyne, NE1 6QG	bar, cafe and events
					business
Class of	Holding	Included in
shares		consolidation
Ordinary	100%	Yes

Page 39

Docusign Envelope ID: 7D8B2F2B-EC1F-470E-87AD-9DA4176FADCF

TYNESIDE CINEMA (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2024

17. Fixed asset investments (continued)

The financial results of the subsidiary for the period were:

Name Income £ Expenditure £ Profit for the period £ Tyneside Cinema Trading Co. Ltd 1,753,338 1,684,089 69,249 . Summary Statement of Comprehensive Income 18 months ended 30 September 2024 £ Turnover 1,753,338 Cost of sales (519,325) Administrative expenses (1,164,764) Net profit/(loss) 69,249 . The assets and liabilities of the subsidiary were: 30 September 2024 £ Fixed assets 44,179 Current assets 137,182 Creditors: amounts falling due within one year (343,455) Creditors: amounts falling due after more than one year (42,455) Deferred tax (2,529) Total net liabilities (207,078)

Net liabilities £ (207,078) 12 months ended 31 March 2023 £ 1,198,461 (399,056) (858,735) (59,330) 31 March 2023 £ 76,683 319,322 (611,470) (58,333) (2,529) (276,327)

Page 40

Docusign Envelope ID: 7D8B2F2B-EC1F-470E-87AD-9DA4176FADCF

TYNESIDE CINEMA (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2024

18. Stocks

	Group		Company
	30	Group	30	Company
	September	31 March	September	31 March
	2024	2023	2024	2023
	£	£	£	£
Finished goods and goods for resale	17,582	21,053	1,626	-

19. Debtors

Due within one year Trade debtors Amounts owed by group undertakings Other debtors Prepayments and accrued income	Group 30 September 2024 £ 38,614 - 22,555 30,900 92,069	Group 31 March 2023 £ 37,122 - 8,973 89,123 135,218	Company 30 September 2024 £ 987 74,877 6,367 28,110 110,341	Company 31 March 2023 £ 15,941 368,135 257 82,337
				466,670

20. Creditors: Amounts falling due within one year

Bank loans Other loans Trade creditors Other taxation and social security Other creditors Accruals and deferred income	Group 30 September 2024 £ 41,811 8,646 229,440 193,868 17,072 391,242 882,079	Group As restated 31 March 2023 £ 116,903 - 477,623 107,562 33,222 179,040 914,350	Company 30 September 2024 £ 33,027 8,646 177,675 75,820 14,101 304,231 613,500	Company As restated 31 March 2023 £ 91,903 - 390,644 49,173 32,562 106,731
				671,013

Page 41

Docusign Envelope ID: 7D8B2F2B-EC1F-470E-87AD-9DA4176FADCF

TYNESIDE CINEMA

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2024

Deferred income is as set out below.

Group 30 September 2024 £ Deferred income at 1 April 2023 25,824 Resources deferred during the period 175,204 Amounts released from previous periods (25,824) 175,204 Creditors: Amounts falling due after more than one year Group 30 September 2024 £ Bank loans 202,086 Other loans 1,149,163 1,351,249 Included within the above are amounts falling due as follows: Between one and two years Between two and five years Bank loans 167,243 Other loans 699,279 Over five years Bank loans 34,843 Other loans 449,884	Group 31 March 2023 £ 146,943 25,824 (146,943) 25,824 Group 31 March 2023 £ 277,667 457,809 735,476 277,667 457,809 - -	Company 30 September 2024 £ - 136,296 - 136,296 Company 30 September 2024 £ 159,631 1,149,163 1,308,794 132,108 699,279 27,523 449,884	Company 31 March 2023 £ 109,996 - (109,996) - Company 31 March 2023 £ 219,334 457,809 677,143 219,334 457,809 - -

21. Creditors: Amounts falling due after more than one year

Page 42

Docusign Envelope ID: 7D8B2F2B-EC1F-470E-87AD-9DA4176FADCF

(A Company Limited by Guarantee)

TYNESIDE CINEMA

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2024

21. Creditors: Amounts falling due after more than one year (continued)

Group			Company
30		Group	30	Company
September	31	March	September	31 March
2024		2023	2024	2023
£		£	£	£

Bank loans comprise two loans of £595,000 in total made by HSBC to the Company and the subsidiary under the Coronavirus Business Interruption Loan Scheme that were taken out in July 2020. Repayment of these loans was over five years starting in August 2021. Interest rates are 3.99% over the Bank of England base rate. In June 2024 the loan terms were extended to August 2030.

The HSBC loans are secured by debentures, fixed and floating charges granted by the charity and its subsidiary and two morgages over its leasehold property granted by the charity.

Other loans comprise loans from Newcastle City Council and North East Social Fund LP.

In June 2024 the interest charged on the loan from Newcastle City Council was amended to be 3.43% and the loan term was extended to 2065. The loan is secured by a charge over one of the charity's leasehold premises.

The loan from North East Social Fund LP carries an interest rate of 7% per annum and a loan term ending in January 2035. The loan is secured by debentures, fixed and floating charges and cross guarantees granted by the charity and its subsidiary.

22. Financial instruments

	Group		Company
	30	Group	30	Company
	September	31 March	September	31 March
	2024	2023	2024	2023
	£	£	£	£
Financial assets
Financial assets measured at fair value
through income and expenditure	478,036	359,444	413,415	97,857

Financial assets measured at fair value through income and expenditure comprise cash at bank and in hand.

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Docusign Envelope ID: 7D8B2F2B-EC1F-470E-87AD-9DA4176FADCF

TYNESIDE CINEMA (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2024

23. Deferred taxation

Group

At the beginning of the period	30 September 2024 £ 2,529
	2,529

Company

The deferred tax liability is made up as follows:

Accelerated capital allowances	Group 30 September 2024 £ (2,529) (2,529)	Group 31 March 2023 £ (2,529)
		(2,529)

Page 44

Docusign Envelope ID: 7D8B2F2B-EC1F-470E-87AD-9DA4176FADCF

TYNESIDE CINEMA

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2024

24. Statement of funds

Statement of funds - current period

Balance at 1 April 2023 £ Unrestricted funds General Funds (305,593) Restricted funds Capital development 1,736,247 Arts Council - BFI grant - Point North grant - Access Reach fund - 1,736,247 Total of funds 1,430,654	Income £ Expenditure £ 3,998,753 (4,617,504) - (622,267) 73,829 (73,829) 155,100 (155,100) 37,500 - 9,647 (9,647) 276,076 (860,843) 4,274,829 (5,478,347)	Balance at 30 September 2024 £ (924,344) 1,113,980 - - 37,500 - 1,151,480 227,136

The specific purposes for which the funds are to be applied are as follows:

General reserves - the general reserve represent the free funds of the charity which are not designated for any particular purpose.

Restricted funds :

Arts Council - revenue funding to support the digital and creative media arts programme at the Tyneside Cinema.

Capital Development fund - relates to funds provided for the refurbishment and modernisation of hte charity's premises.

BFI - to support exhibition of a diverse range of film to build a wider audience and representation .

Point North grant - funding for capital projects (boiler) and sales and marketing resource.

Access Reach - funding for business planning and financial forecasting

Page 45

Docusign Envelope ID: 7D8B2F2B-EC1F-470E-87AD-9DA4176FADCF

TYNESIDE CINEMA (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2024

24. Statement of funds (continued)

Statement of funds - prior period

Balance at 1 April 2022 £ Unrestricted funds Designated funds Designated Funds 913,941 General funds General Funds (405,711) Total Unrestricted funds 508,230 Restricted funds Capital development 2,141,865 Arts Council - Project grants - 2,141,865 Total of funds 2,650,095 25. Summary of funds Summary of funds - current period	Income £ - 2,563,235 2,563,235 - 60,105 181,215 241,320 2,804,555	Expenditure £ - (3,336,211) (3,336,211) (405,618) (71,608) (210,559) (687,785) (4,023,996)	Transfers in/out £ (913,941) 873,094 (40,847) - 11,503 29,344 40,847 -	Balance at 31 March 2023 £ - (305,593) (305,593) 1,736,247 - - 1,736,247 1,430,654

Balance at 1 April 2023 £ General funds (305,593) Restricted funds 1,736,247 1,430,654	Income £ Expenditure £ 3,998,753 (4,617,504) 276,076 (860,843) 4,274,829 (5,478,347)	Balance at 30 September 2024 £ (924,344) 1,151,480 227,136

Page 46

Docusign Envelope ID: 7D8B2F2B-EC1F-470E-87AD-9DA4176FADCF

TYNESIDE CINEMA

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2024

25. Summary of funds (continued)

Summary of funds - prior period

Designated funds General funds Restricted funds	Balance at 1 April 2022 £ 913,941 (405,711) 2,141,865 2,650,095	Income £ - 2,563,235 241,320 2,804,555	Expenditure £ - (3,336,211) (687,785) (4,023,996)	Transfers in/out £ (913,941) 873,094 40,847 -	Balance at 31 March 2023 £ - (305,593) 1,736,247 1,430,654

26. Analysis of net assets between funds

Analysis of net assets between funds - current period

Unrestricted funds 30 September 2024 £ Tangible fixed assets 751,326 Fixed asset investments 10,000 Current assets 550,187 Creditors due within one year (882,079) Creditors due in more than one year (1,351,249) Provisions for liabilities and charges (2,529) Total (924,344)	Restricted funds 30 September 2024 £ 1,113,980 - 37,500 - - - 1,151,480	Total funds 30 September 2024 £ 1,865,306 10,000 587,687 (882,079) (1,351,249) (2,529) 227,136

Page 47

Docusign Envelope ID: 7D8B2F2B-EC1F-470E-87AD-9DA4176FADCF

TYNESIDE CINEMA

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2024

26. Analysis of net assets between funds (continued)

Analysis of net assets between funds - prior period

Tangible fixed assets Intangible fixed assets Fixed asset investments Current assets Creditors due within one year Creditors due in more than one year Provisions for liabilities and charges Total	Unrestricted funds 31 March 2023 £ 859,830 2,064 10,000 474,868 (914,350) (735,476) (2,529) (305,593)	Restricted funds 31 March 2023 £ 1,695,400 - - 40,847 - - - 1,736,247	Total funds 31 March 2023 £ 2,555,230 2,064 10,000 515,715 (914,350) (735,476) (2,529) 1,430,654

27. Reconciliation of net movement in funds to net cash flow from operating activities

Net expenditure for the period (as per Statement of Financial Activities) Adjustments for: Depreciation charges Amortisation charges Decrease in stocks Decrease in debtors Increase/(decrease) in creditors Net cash used in operating activities	Group 18 months ended 30 September 2024 £ (1,203,517) 727,523 2,064 3,471 43,149 34,174 (393,136)	Group 12 months ended 31 March 2023 £ (1,219,441) 494,163 11,321 704 209,687 (69,085) (572,651)

Page 48

Docusign Envelope ID: 7D8B2F2B-EC1F-470E-87AD-9DA4176FADCF

TYNESIDE CINEMA (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2024

28. Analysis of cash and cash equivalents

Cash in hand Total cash and cash equivalents	Group 30 September 2024 £ 478,036 478,036	Group 31 March 2023 £ 359,444
		359,444

29. Analysis of changes in net debt

Cash at bank and in hand Debt due within 1 year Debt due after 1 year	At 1 April 2023 £ 359,444 (116,903) (735,476) (492,935)	Cash flows £ 118,592 66,446 (615,773) (430,735)	At 30 September 2024 £ 478,036 (50,457) (1,351,249)
			(923,670)

30. Pension commitments

The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the group to the fund and amounted to £31,594 (2023: £30,106).

Contributions totalling £4,595 (2023: £99) were payable to the fund at the balance sheet date and are included in creditors.

Page 49

Docusign Envelope ID: 7D8B2F2B-EC1F-470E-87AD-9DA4176FADCF

TYNESIDE CINEMA

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2024

31. Operating lease commitments

At 30 September 2024 the Group and the Company had commitments to make future minimum lease payments under non-cancellable operating leases as follows:

Group 30 September Group 31 March 2024 2023 £ £ Not later than 1 year 65,625 162,917 Later than 1 year and not later than 5 years 528,313 456,215 Later than 5 years 2,037,991 258,951 2,631,929 878,083 The following lease payments have been recognised as an expense in Activities: Group 30 September Group 31 March 2024 2023 £ £ Operating lease rentals 146,599 95,986 Changes in lease payments arising from COVID-19 related rent concessions - -	Company 30 September Company 31 March 2024 2023 £ £ 26,255 117,213 251,250 456,215 924,000 258,951 1,201,505 832,379 the Statement of Financia Company 30 September Company 31 March 2024 2023 £ £ 91,272 59,318 - -	Company 31 March 2023 £ 117,213 456,215 258,951
		832,379

The following lease payments have been recognised as an expense in the Statement of Financial Activities:

32. Commitments

Grants previously made by the European Regional Development Fund, BFI and Heritage Lottery Fund are repayable if the charity breaches the terms of the agreement with the grant funders, undergoes a significant change in status, ceases to operate or is declared insolvent within the period to 2028 for the European Regional Development Fund and 2031 for the Heritage Lottery Fund. Annual depreciation regarding the property is being charged annually against the restricted funds.

The agreement with the National Lottery Heritage Fund is secured by a legal charge over the leasehold property at 10 Pilgrim Street, Newcastle upon Tyne.

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Docusign Envelope ID: 7D8B2F2B-EC1F-470E-87AD-9DA4176FADCF

TYNESIDE CINEMA

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2024

33. Related party transactions

The charity has taken the exemption contained within FRS 102 for disclosing transactions with its wholly owned subsidiary as consolidated financial statements are prepared.

The charity obtained legal advice with a value of £635 from Ward Hadaway during the period. The husband of a former Trustee, A Fellows, is a partner of Ward Hadaway. No amounts were owed to Ward Hadaway at the end of the period.

Page 51