2021-03-31-accounts - Nottingham Media Centre Limited

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

					Page
Report ofthe board oftrustees (including Strategic Report)
Report of the Independent	Auditors				13
Consolidated Statement	of Financial	Activities	(Current	Year)	17
Consolidated Statement	of Financial	Activities	(Prior Year)		18
Consolidated Statement	of Financial	Position
Consolidated Cash Flow	Statement				21
Notes to the Consolidated	Cash Flow Statements				22
Notes to the Consolidated	Financial	Statements			23


The Board	ofTru	stees	Barbara Cathcart
			Anna Dawson
			Merc Y D Gaudart
			Richard Gerrard		(Resigned	22	July 2020)
			Laurie E Moran
			Sofia Nazar-Chadwick
			Ann Priest
			Patricia D Silbum
			Paul Southby-	Chair
Secretary			Stephen Mapp
Key Nlanagement		Personnel	Stephen Mapp		Chief	Executive
			Caroline Hennigan		Programme			Director
			John Tobin		Development			Director
					(Voluntary		redundancy			30Oct	2020)
			Stewart Terry		Marketing		&	Communications			Director
			Dan Wright		Finance		Manager
			Simon Ackrel		General		Manager
			Eleanor Thomley		Film	Hub	Midlands		Manager
Registered	of6ce		14-18 Broad Street
			Notting ham
			NG1 3AL
Auditors			Rogers Spencer
			Newstead House
			Pelham Road
			Nottingham
			NG5 1AP
Bankers			HSBC Bank Pic
			26 Clumber Street
			Notting ham
			NG1 3GA

						Unrestricted	Restricted	Total	Total
						Funds	Funds	2021	2020
					Notes	F.	6		6
INCOME:
Donations and legacies						1,269,601		1,269,601	217,861
Income from other	trading			activities:
Shop sales						797		797	34,031
Brochure advertising									2,000
Commercial trading	operations				8	5,309		5,309	1,018,882
						6,106		6,106	1,054,913
Investment Income						968		968	5,538
Income from charitable			activities:
Operation ofthe media		centre			5	130,474	26,978	157452	1 497 139
Grants relating to the operation ofthe
media centre					5	269,179	1,011,254	1,280,433	950,052
						399663	~6L333	1 937886	2 447 191
TOTAL INCOME
EXPENDITURE:
Cost of raising funds:
Shop cost ofsales						1,077		1,077	18,738
Brochure production,	website			and
marketing						29,121		29,121	93,482
Commercial trading	operations				8	404,330		404,330	821,443
						434,528		434,528	933,663
Charitable activities
Operation of media centre					7	1,231,070	655,804	1,886,874	2,925,703
TOTAL EXPENDITURE
Net (expenditure)/income			before
transfers Gross transfers between		funds			9	10,730	382,428	393,158	(133,863)
Net movement offunds		in	year			10,730	382,428	393,158	(133,863)
RECONCILIATION	OF	FUNDS
Total funds brought forward						1,159,007	4,578,673	5,737,680	5,871,543
Total funds carried	forward

				Notes	Unrestricted	Restricted	Total	Total
					Funds 8	Funds	2020f	2019 6
INCOME:
Donations and legacies				3	217,861		217,861	150,000
Income from other trading		activities:
Shop sales Brochure advertising					34,031 2,000		34,031 2,000	36,239 3,500
Commercial trading operations				8	1,018,882		1,018,882	1,055,034
					1,054,913		1,054,913	1,094,773
Investment Income				4	5,538		5,538	5,644
Income from charitable	activities:
Operation of the media centre Grants relating to the operation			ofthe	5	1,476,782	20,357	1,497,139	1,498,345
media centre				5	290,781 1 787 883	659,271 ~uJL28	950,052 2 447 191	797,314 2295659
TOTAL INCOME
EXPENDITURE:
Cost of raising funds:
Shop cost ofsales					18,738		18,738	17,331
Brochure production, website		and
marketing					93,482		93,482	85,403
Commercial trading operations				8	821,443		821,443	818,826
Charitable activities					933,663		933,663	921,560
Operation of media centre				7	2,068,126	857,577	2,925,703	2,791,339
TOTAL EXPENDITURE
Net (expenditure)/income	before
transfers Gross transfers between	funds			9	44,086	(177,949)	(133,863)	(166,823)
Net movement offunds	in year				44,086	(177,949)	(133,863)	(166,823)
RECONCILIATION OF	FUNDS
Total funds brought forward					1,114,921	4,756,622	5,871,543	6,038,366
Total funds carried forward

					Group		Company	Company
			Note	2021 f	2020 8		2021 8	2020 8
Fixed assets
Tangible assets Investment			14 15	5,657,257	5,310,256		5,641,647 100	5,289,442 100
				5,657,257	5310,256		5,641,747	5,289,542
Current assets
Stock for resale				6,515	12,941		247	929
Debtors			16	220,056	108,771		307,734	127,162
Cash at bank		and in hand		1,003,128	1,347941		973,130	1 279,739
				1,229,699	1,469,653		1,281,111	1,407,830
Creditors:
Amounts falling due within one year			17	~609293	~874 047	~.	570.864	~873.820
Net current	assets			620,406	595,006		710,247	594,004
Total asset	less current
liabilities				6,277,663	5,905,262		6,351,994	5,883,546
Creditors
Amount falling		due after mom
than one year			18	(146,825)	(167,582)		(128,327)	(145,866)
Net Assets				6130838	5 73768D		6223 667	5 737 MD
Funds:
Unrestricted		funds	22	1,169,737	1,159,007		1,262,566	1,159,007
Restricted	funds		22	4,961,101	4,578,673		4,961,101	4,578,673
				6,130,838	5,737,680		6,223,667	5,737,680

			2021	2020
			E	6
Cash flows from operating	activities		301,939	371,060
Cash flows from investing	activities
Interest income/(expenditure) Purchase of tangible fixed	assets		(4,118) ~628MD	676 ~311071
Cash used in investing activities			~024, 703	~370.800
Cash flows from financial	activities
New loans				150,000
Repayment of Borrowing			(21,969)	(12,641)
Cash used in financing activities			~27,000	137359
(Decrease)/increase in cash and		cash equivalents	(344,813)	197,524
Cash and cash equivalents	at 1	April 2020	1,347 941	1,150417
Total cash and cash equivalents		at 31 March 2021	1,DD3,120	1 347 941

1	. RECONCILIATION ACTIVITIES		OF N	ET M	O	VEMENT IN FUNDS	TO NET CAS	H FROM OPERATIN	G
								2021	2020
	Net income/(expenditure)			forthe year before interest
	received and paid							397,276	(134,539)
	Depreciation charges							273,664	238,598
	Loss on disposal of tangible fixed					assets
	Decrease/(increase)		in stocks					6,426	3,681
	(Increase)/decrease		in debtors					(111,285)	78,827
	Increase/(decrease)		in creditors					~264 442	184493
	Net cash inflow from operating					activities		301 1130	371 060
2.	CASH AND CASH	EQUIVALENTS
	Year ended 31 March 2021
								31 March	31 March
								2021	2020
									6
	Cash and cash equivalents							1,003,128	1,347,941
								1,003,128	1,34?,941
	Year ended 31 March		2020
								31 March	31 March
								2020	2019
								8
	Cash and cash equivalents							1,347,941	1,150,417
								1,347,941	1,150,417
	3. ANALYSIS OF	CHANGES			IN	NET DEBT
							Brought		Carried
							forward	Cash-flows	forward
							8	8	8
	Cash at bank and	in	hand				1,347,941	(344,813)	1,003,128
	Borrowings						(187,185)	19,545	(167,640)
							1.1007M	~325260	035,488

INCOME FR	O	M DONATIO	NS AND LEGACIES
					Total	Total
			Unrestricted	Restricted	Funds	Funds
			Funds	Funds	2021	2020
			8	8	8	8
Donations			19,767		19,767	48,851
GrrnI~060t6
BFIAudience		Fund	150,000		150,000	150,000
CJRS Grant			624,419		624,419	19,010
Covid 19Grants			475,415		475,415
			1,269,601		1,269,601	217,861
					Total	Total
			Unrestricted	Restricted	Funds	Funds
			Funds	Funds	2020	2019
					6
Donations G~tl!	i	b I	48,851		48,851
BFIAudience CJRS Grant		Fund	150,000 19,010		150,000 19,010	150,000
			217861		217861	150000

							Total	Total
					Unrestricted	Restricted	Funds	Funds
					Fundsf	Fundsf	2021f	2020f
BoxOffice	admission		charges		44,454		44,454	1,103,683
Events					83,007	26,978	109,985	219,318
Room hire	and rents				279		279	128,675
Screen advertising					2,881		2,881	44,900
Other income					(147)		(147)	563
					130,474	20,1178	157,452	I 407,130
							Total	Total
					Unrestricted	Restricted	Funds	Funds
					Funds	Funds	2020	2019f
BoxOffice	admission		charges		1,103,683		1,103,683	1,111,251
Events					198,961	20,357	219,318	228,996
Room hire	and rents				128,675		128,675	111,950
Screen advertising					44,900		44,900	45,933
Other income					563		563	215
					1,476,782	20,357	1,497,139	1,498,345
rants relating		to the operation			ofthe Media Centre
							Total	Total
					Unrestricted	Restricted	Funds	Funds
					Funds	Fundsf	2021f	2020
Arts Council	of England			- Capital		578,717	578,717
Arts Council of England BFI- Film HUB Midlands				- NPO	99,939 87,053	303,360	99,939 390,413	111,894 435,612
BFI - C-Fan	Major Programme				81,171	105,906	187,077	372,515
Foreshadow		Film Fund				6,721	6,721	24,706
Nottingham	City Council			—N2EG		16,550	16,550
Others					1,016		1,016	5325
					269,179	1,011,254	I 2804!8	950,052
							Total	Total
					Unrestricted	Restricted	Funds	Funds
					Funds	Funds F	2020	2019f
Arts Council	of England			NPO	111,894		111,894	104,880
BFI Film HUB		Midlands			87,511	262,050	349,561	391,734
BFIC-Fan Major Programme					86,051	372,515	458,566	298,642
Foreshadow		Film Fund				24,706	24,706	558
Others					5,325		5,325	1,500
					2~90 781	65~9271	950052	707 314
					27

asis consisten	t with the use o	f resourc	es which is currently	60:40 in favourof	film programme	.
			Operation of		Total	Total
			Media Centre	Governance	2021	2020
			6	6	6
Staff Costs			345,838	47,160	392,998	406,679
Recruitment			343		343	195
Depreciation			268,460		268,460	232,517
Licenses and	subscriptions		4,701		4,701	19,872
Consultants and professional Audit and Accountancy fees		fees		3,500 8,800	3,500 8,800	7,200
Bank charges				5,271	5,271	19,541
Bank loan interest Officecosts Other costs			4,711 7,921 13,716		4,711 7,921 13,716	4,272 9,530 9,649
			645,690	64,731	710421	709,655
			Operation of		Total	Total
			Media Centre f	Governance 6	2020	2019 8
Staff Costs			357,878	48,801	406,679	402,002
Recruitment			195		195	445
Depreciation			232,517		232,517	209,601
Licenses and	subscriptions		19,872		19,872	20,628
Consultants and professional Audit and Accountancy fees		fees		7,200	7,200	4,200 7,500
Bank charges				19,541	19,541	25,913
Bank loan interest			4,272		4,272	501
Office costs			9,530		9,530	10,337
Other costs			9,849		9849	11,666
			634,113	75,542	709655	692,793
NALYSIS OF	EXPENDITURE	ON CHARITABLE ACTIVITIES
				Media
			Film	Events 8
			Programme	Education	2021	2020
			8	6	F	F
Film hire and carnage Front of house costs			9,834 16,084		9,834 16,084	449,014 28,153
Projection and front of house		wages	262,941		262,941	345,746
Media events and education Premises costs			73,849	784,512 49,233	764,512 123,082	1,140,274 252,861
Support costs			387,414	258,276	645,690	634,113
Other expenditum			30839	20 8112	64,731	75,542
			788,961	1,097,013	1,000,074	2.925 703
Of which:
Unrestricted funds			664,365	566,705	1,231,070	2,068,126
Restricted funds			124,596	531,208	655,804	857,577
			788,961	1,097,913	1,886,874	2,925 703
			28

NALYSIS OF EXPENDITURE ON CHAR	ITABLE ACTIVITI	ES (continued)
		Media
	Film	Events &
	Programme F	Education	2020 8	2019f
Film hire and carriage Front ofhouse costs Projection and front of house wages	449,014 28,153 345,746		449,014 28,153 345,746	443,999 31,777 340,701
Media events and education Premises costs	151,717	1,140,274 101,144	1,140,274 252,861	1,014,375 267,694
Support costs	380,468	253,645	634,113	606,940
Other expenditure	45,325	30,217	75,542	85,853
	1,400,423	1,525,280	2,925,703	2,791,339
Of which
Unrestricted funds	1,292,930	775,196	2,068,126	2,071,789
Restricted funds	107,493	750,084	857,577	719,550
	1,400,423	1,525,280	2,925,703	2,791,339

he assets and liabilities ofthe subsidiary w	ere:
	2021 6	2020f
Fixed assets	15,610	20,814
Current assets	40,977	113,622
Current liabilities	(130,818)	(112,620'
Non-current liabilities	(18,498)	(21,716)
Net assets/(liabilities)	(92,729)	100

		2021	2020
			6
Depreciation		273,664	238,598
Auditor's remuneration
Audit services		9,000	7,200
Accounting	services	3,250	3,250
Loan Interest		5,086	4,662

The numbe	r	ofempl	oyees whose emolume	nts fell within t	he following bands:
					2021	2020
660,000-869,999
The average		weekly	number ofemployees	during the year, was as follows:
					2021	2020
					8	6
Programme	and events				24	24
Support to	charitable		activities and governance		15	17
Cafa bar					27	36
						77

Group
			Fixtures	Assets	in
	Freehold Premisesf	Equipmentf	& Fittings f	Course of Constructionf		Total
COST
At 1 April 2020	8,935,500	933,687	916,721	25,878		10,811,786
Additions Disposals	2,550	2,987	641,006	615,128 ~644,000		1,261,671 ~041,006
At 31 March 2021	8,938,050	936,674	1,557,727			11,432,451
DEPRECIATION
At 1 April 2020	4,044,966	694,106	762,458			5,501,531
Provided in year	173,261	DL5,877	54,525			273,663
Eliminated on disposal
Impairment
At 31 March 2021	4,218,227	739,983	816,983			5,775,194
NET BOOK VALUE
At 31 March 2021	4,719823	196,691	740,743			5,657,257
At 31 March 2020	4,890,534	239,581	154,263	25,876		5,310,256
Company
			Fixtures	Assets	in
	Freehold		&	Course of
	Premisesf	Equipment F	Fittingsf	Constructionf		Totalf
COST
At 1 April 2020	8,935,500	866,004	906,555	25,878		10,733,937
Additions Disposals	2,550	2,987	641,006	615,128 ~044,000		1,261,671 ~641000
At 31 March 2021	8,938,050	868,991	1,547,581
DEPRECIATION
At 1 April 2020	4,044,966	646,677	752,852			5,444,495
Provided in year	173,261	45,877	49,322			268,480
Eliminated on disposal
Impairment
At 31 March 2021	4,218,227	692,554	802,174			5,712,955
NET BOOK VALUE
At 31 March 2021	4,719,823	176,437	745,387			5,641,647
AI 31 M I 2D20	4 000 034	210321	103103	25878		5289 442
		32

the group's borrowing facilitie	the group's borrowing facilitie	s.	s.
On 10May 2018, a valuation		ofthe		group's property was undertaken					by Christie	&	Co which reflects		its
value as a fully equipped charitable company. The	trading entity, having taken into account the non-commercial aspect ofthe directors made the decision to reflect a valuation in the financial statements												of
the group forthe year ended		31 March 2018 of				55.2m, being the Directors assessment offair value.							The
Directors have cerned out a review ofthe This assumes that the level of income will					valuation in 2018 return to previous			to support the carrying levels but in the current			value ofF4,719,823. climate there is
uncertainty about when this will happen.
15.FIXEDASSET INVESTMENTS
The charity has the following		wholly		owned subsidiary
							Group				Company
							2021		2020		2021		2020
							6		6
Shares in group undertakings											100		100
16. DEBTORS
							Group				Company
							2021		2020f		2021 6		2020 f
Trade debtors							57,823		41,668		56,822		40,313
Other debtors							148,947		19,788		148,899		43,043
Prepayments							13,286		47,315		9,624		43,S06
Amounts owed by subsidiary											92,389
							220,006		100,771		307,734	127.162
17. CREDITORS: AMOUNTS	FALLING			DUE	WITHIN		ONE YEAR
							Group				Company
							2021 6		2020 5		2021 f		2020 F
Bank loans and overdrafts			(note	19)			20,815		19,603		17,582		16,440
Trade creditors							161,182		119,803		157,630	110,122
Amounts due to subsidiary													16,923
Taxation and social security							16,919		82,464		13,887		47,482
Other creditors							113,733		148,402		113,733	148,402
Deferred income (note	21)						184,993		395,387		184,993	395,387
Accruals							111,651		108,988		83,039		79,070
							609 293		874647		070 M4	013820
18.CREDITORS: AMOUNTS	FALLING			AFTER MORE THAN				ONE YEAR
							Group				Company
							2021		2020		2021		2020
							8		5		6
Bank loans and overdrafts			(note	19)			146,825		167,582		120,327	145,866
							33

		Unrestricted	Restricted		Unrestricted	Restricted
		Funds	Funds	Total	Funds	Funds	Total
		2021f	2021	2021	2020	2020 5	2020f
Tangible fixed assets		818,135	4,839,122	5,657,257	858,742	4,451,514	5,310,256
Net current	assets	498,427	121,979	620,406	467,847	127,159	595,006
Long term	liabilities	(146,825)		(146,825)	(167,582)		(167,582)
Total		1 169737	4961 101	6130838	1 159007	4 578673	5737680

NALYSIS O	F MOVEMEN	F MOVEMEN	TS IN FUND	S (Cont	inued)
Analysis of	movements		in restricted	funds
				At	Incoming	Resources		At
			01/04/19		Resources	expended	Transfers	31/03/20
					6	6	6	6
Foreshadow		Film fund	125,953		24,706	(23,500)		127,159
BFI Film	Hub	Midlands			262,050	(262,050)
BFIC-Fan Major
Programme					372,515	(372,515)
BFINetwork					20,357	(20,357)
Deferred	capital grants		4,630,669			(179,155)		4,451,514
			4756622		679628	~85~7577		4 578673