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||||||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|
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|||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|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|||||||||
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|||||||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|
##
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##
||||Notes|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|
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|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|
##
##
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##
##
##
|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|||||||
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|||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|
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|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|
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