Company Number 02315936
Charlty Number 700880
NOTTINGHAM MEDIA CENTRE LIMrrED
(A ¢ompany limited by guarantee
and not having a share capltal)
ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDING 31 MARCH 2024

NOThINGHAM MEDIA CENTRE LIMrfED
CONTENTS
Page
ReFx)rt of the board of trustees {including Strategic Report)
Report of the Independent Auditors
11
Consdidated Ststement of Financial Activities {Current Year)
15
Consolidated Statement of Financial Activities (Prior Year)
16
Consolidated Statement of Financial Position
17
Consolidated Cash Flow Statement
19
Notes to the Consolidated Cash Flow Statements
20
Notes to the Consolidated Financial Statements
21

NorriNGHAM MEDIA CENTRE LIMITED
(A company Ilmlted by guarantee and not havlng a share capltal)
REPORT OF THE TRUSTEES FOR THE YEAR ENDING 31 MARCH 2024
The trustees are pleased to present their annual dlrectors, report together with the consolidated financial
statements of the Charity and its subsidiary for the year ending March 31, 2024. The trustees have
adopted the provisions of the Statement of Recommended Practlce (SORP) 'Accounting and Reporting
by Charities. in preparing the annual report and financial stalements of the charty.
The financial statements have been prepared in accordance wlth the accounting policies set out in the
notes to the accounts and Comply with the Memorandum and Artlcles of Association. the Charities Act
2011. the Companies Act 2006 and Accounting and Reporting by Charlties: 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) published in October 2019.
CHAIR'S REPORT
In common with others operating within the independent cultural cinema sector. Broadway has
encountered a challenging trading environment over the last 12 months. Having said that, for a variety of
reasons financial performance over the full financial perlod has been better than budgeted, and this has
produced an outcome that is better than was expected. Investments have been made in equipment to
enable outdoor screenings (with grant support gratefully recelved from the UK Sha￿d Prosperity Fund),
in the development of Broadway's lounge area, in a new customer management system, in a foodldrinks
truck to enhance Broadways offering at its on-site outdoor area, and In other areas, all of which have
supported new or refreshed approaches to income generation in aid of Broadway's charitsble mission to
inspire a lrfelong love of film. Beyond that, l am please(I to report that significant steps have been tsken to
increase contact with, and our offering to, an increasingly diverse range of local communities which might
previously have h8d little experience of Broadway.
During the year, we have welcomed four new trustees.. Sharon Walia, Professor Llz Woodland, Peter Hill
and John Read. and our board has appointed Claire Baxter as vi¢e4hair. l am grateful to Claire and to all
members of our board for their work and their support. In particular, the diligent work of our finan￿ group
chaired by Chris Tayky - has supported the organisation well throughout the year, such that whilst the
next trading Feriod will be approached with care and prudence, that can be accompanied by a realistic
and Increasing sense of confidence.
All of the above has been supported by Broadway's dedicated staff complement and thelr contribution
has been eX￿ptIonal over the year. Particular thanks are due to our slightly expanded senior
management team. Also, I would like to acknowledge with gratitude the importance to Broadway of not
only the financial support It receives from the BFI (British Film Institute) and from Arts Council England.
but also the regular interaction of thelr people with our management and other staff which is of great
assistance to our work and to our charltable purpose.
P Southby
Chair

NorriNGHAM MEDIA CENTRE LIMITED
(A company limlted by guarantee and not havlng a Share capltal)
REPORT OF THE TRUSTEES FOR THE YEAR ENDING 31 MARCH 2024 (contlnued)
STATiJfoRY INFORMATION
Goveming Document
Nottingham Media Centre Limited, trading as Broadway is a company limited by guarantee incorporated
under the Companies Act 2006 {Company number. 02315936) and a registered charity (Charty number:
700880) governed by its Memorandum and Articles of Association.
Directors and Trustees
The directors of the charitable company {'Yhe charity") are rts trustees for the purpose of charity law and
throughout this report are collectively referred to as the trustees. As set out in the Articles of Association
the trustees nominate the chair of the trustees.
The following persons have served as trustees during the period 2023124 and up to the date of signing
this report:
The Board of Trust•es
P Southby- Chair
C Baxter
A Dawson
J Denham
E Evans (Appointed 4 December 2023)
P Hlll (Appolnted 4 December 2023)
L E Moran
S Nazar-chadwick (Resigned February 2024)
A Priest
J Read (Appointed 4 December 2023
J Taylor (Appointed 19 May 2023)
S Walia (Appointed 4 December 2023)
Secretary
L Askew
Kèy Management Personnel
L Askew
Chief Executive
S Ackrel
General Manager
A Byme
Venue Manager
C Hennigan
Programme Director
N Rajagopalan HR Advisor
S Terry
Marketing & Communications Director
E Thomley
Film Hub Midlands Manager
Registered office
14-18 Broad Street
Nottingham
NG13AL
Auditors
Rogers Spen￿r
Newstead House
Pelham Road
Nottingham
NG5 1AP
Bankers
HSBC Bank Pl
26 Clumber Street
Nottingham
NG13GA

NOThINGHAM MEDIA CENTRE LIMITED
{A company limited by guarantee and not having a Sharo capital)
REPORT OF THE TRUSTEES FOR THEYEAR ENDING 31 MARCH 2024{continued)
Objects of the Charity
Nottingham Media Centre Limrted is a charlty which operates and trades under name of Bro8dway and
exists "to advance education by the provlsion of facilities and services in the media of the arts,
communiGation8 and new technology".
Public Benefit Statement
The Board of Trustees has referred to the Charlty Commission's guidance on public benefit when
revrewing the charity's aims and objectives and in plannlng future activities.
Invèstment Powers
Under the Memorandum and Artides of Association, the Company has the power to make any
inve8tment which the trustees see fit.
Appointment of Trustees
As set in the Memorandum and Articles of Association. the Chair of the Trustees is nominated by the
Board of Trustees. The Board has the power to nominate new trustees, where areas of Specif￿ and new
expertise are needed or when vacancies arise due to resignations. New members are nominated and
voted on by the existing trustees-
Trustee Induction and Training
All new members are inducted by the Chair arxl made aware of their responslbilities as Trustees in
relatlon to Charity and Company law and are made aware of the business plan, the financial performance
and decision-making processes of the Company. All Trustees are encouraged to attend meetings.
specfflc training and away-days where these are relevant to the undertaklng of their roles and
responslbllities as Trustees.
Rlsk Management
The risk management of the trustees involves:
A review of rlsks faced by the charty at all Board meetings through financial and other reports
from the Management team.
The establishment of strategies, systems and procedures to mitigate those risks.
The implementstion of procedures to minimise the impact on the charity should those risks
materFalise.
The company operates within current leglslatlon for health and safety. employee managemen( equallty
and diversity and within the terms of relevant lI￿nceS granted by the local authority for its cinema,
entertainments, food hygiene and the sale of alcohol.
Organisation and Managem•nt
The Board of Trustees oversee the management of the Charty and when the need arises, sub-groups
are created to cover specific topics such as capital and business development, fundraising, equality,
diversity and inelusion, environmental sustainabilty which are agreed and nominated at meetings of the
full Board. The Board employ Lucy Askew as Chief Executive to manage the operation of the charity,
Nottingham Media Centre Ltd. The Chief Executive has delegated authority as approved by the Trustees
for overall responsibility for strategy. artistic direction, business development, financial management,
policy making, employment and oFerational matters.
The senlor management team are collectively responsible for the planning. management and delivery of
activlty across the organisation. Programme Director, Caroline Hennigan is responslble for curating the
cinema. spedal events and film education courses" Eleanor Thomley is Manager of Film Hub Midlands
(FHM). in a strateglc partnership with Birmingham based Flatpack Projects,. General Manager, Simon
Ackrel is responsible for operational matters including the Café bars. premises and health and safety.
Director of Marketing and Communications, Stewart Terry takes strategic responsibility for organisational
marketing and communications,. Venue Manager Adam Byrne takes responsibility for day to day
customer service and safety.

NOTTINGHAM MEDIA CENTRE LIMrrED
(A company limited by guarantee and not having a share capltal)
REPORT OF THE TRUSTEES FOR THE YEAR ENDING 31 MARCH 2024 (contlnued)
Organisation and Management (continued)
HR Training and Indusion Manager, Nim Rajagopalan provides advice. support and training on all
employment matters including recruitment, equality and diversity. Through regular supervision and
appraisal, staff are developed in their roles. When re-structuring FS necessary. an internal appointment
process is undertaken to review regrading of roles or redeployment before recruitment is undertaken
externally. Broadway has experience of managing and delivering BFI and ACE stakeholder funding
agreements including the channelling of National Lottery furKling. Servi￿ contracts and large scale
capital developments. Experience in delivering projects wtth the procurement. state aid, reporting and
auditing requirements of the EU and CLG has ensured that Broadvvay's administration and financial
reporting systems are robust and well maintained.
Pay Policy
The Board of Directors. who are the charty's trustees and the senior management team comprise the
key management personnel of the charity in charge of directing. controlling. running and operating
Broadway on a day to day basis. All directors give their time freely and no director received remuneration
or expenses in the year. The pay of senior management staff is reviewed annually and with funds
allowing. increased in line with infiation and average cost of living awvards. Any increase in excess of the
cost of living is subject to performance review. Periodically. the Directors benchmark pay against levels In
other arts and cultural sector venues of a similar size and complexity.
Governanc•
Nottlngham Media Centre Ltd is currently led by a board of eleven trustees. The Board meet five times
year and have dual responsibility both as trustees of a charity and directors of a non-profit distributing
company. Thelr role as trusteel directors is no different from those of a share-based company, in that
they are requlred to exercise their care, diligence and skill to act in the best interests of the company.
A wholly owned subsidiary company NMC Commerclal Ltd operates the café bar and catering with a
Board who are also trustees of Nottlngham Medla Centre Ltd. NMC Commercial Ltd pays a commercial
monthly rent and service charge to the charlty wlth any surplus covenanted as gift aid, which makes a
signrficant Contribution in supporting the organlsatlon dellver on Its charltable objectives.
As at 31 March 2024 membership of the Board comprises Chalrman Paul Southby (Solicitor & Chair of
Marketing NG); Laurie Moran (Voluntary Sector Development), Ann Priest (Consultant and ex PVC
Nottingham Trent University), Anna Dawson (Senior Lecturer Film Studies Nottlngham Trent University).
James Denham (Project ManagerlBusiness Analyst Nottingham City Council). Sharon Walia
{Filmmaker}, John Read (Associate Director, Civil and Structural Engineer, Arup), Elizabeth Evans
(Professor of Screen Cultures), Chris Taylor (Chartered Accountant), Claire Baxter (Independent
Management Consultant). Peter Hill (Editor, BFI Player).
Vision
We are ambitious on our path to be one of the leading centres for film and creativity in the UK and in
Europe.
Mission
Broadway is a nationally recognised cultural leader. bringing the world of independent British and
intemational film culture to Nottingham and across the Midlands, supporting innovation in art and
technology. providing a platform for talent, learning and conversation to inspire creativity and a lifelong
love of film.
Values
Broadway. values focus on the following characteristics:
Audiences + Community
Accessible + Inclusive
Independent + Passionate
Reslllent + Responsible
Digital + Dynamic

NO￿INGHAm MEDIA CENTRE LIMITED
(A company Ilmltad by guarantee and not having a Share ¢apital)
REPORT OF THE TRUSTEES FOR THEYEAR ENDING 31 MARCH 2024 (contlnued)
Commor¢lal & Charitable Operatlons
> Four screen independent cinema, film culture & education programmes
> Catering, bars, conferences and private room hires
> Membership scheme and discounted ticket offers.
> Local, regional and national partnerships
> ACE NPO supported Near Now Arts & Technology Studio
> Event and workspaces
> BFI Film Hub Midlands
> BFI Network
> BFI Film Academy Plus
> BFI Film Academy
> HR and people
> Marketing & Communications
Related Partles
Broadway is a key regional delivery partner for the BFI and the 2023-33 Screen Cufture strategy.
receiving an annual ￿ndIng award from the BFI Audience Fund and project funding to support delivery of
a BFI Film Academy. Since 2018 Broadway has been the Film Hub Lead Organisation (FHLO) for Film
Hub Midlands {FHM), in a strategic partnership with Birmingham based Flatpa¢k Project, one of eight UK
hubs in the BFI'S Film Audlence Network (FAN) in an annual agreement extended to March 2026.
Broadway is a member of the UK Cinema Association (UKCA) trade body and contracts wlth the
Independent Cinema Office {ICO) to provide film booking services.
Broadway Is an Arts Council England, National Portfolio Organisation (NPO}. which supports our Near
Now Arts & Technology Studio programme, with the current four-year funding agreement, now extended
to March 2026. Partnerships with Nottingham Trent University School of Art & Design, University of
Nottingham's Horizon Dlgltsl Economy Research Institute, Centre for Advanced Studies, Institute of
Screen Industry Research and Steerlng Group of LEADD:NG Immersive Hub, provide a plafform for
knowledge exchange, graduate placements, Innovation, research & development activities across film,
arts and digital technologies.
Broadway is a member of the Nottingham Strateglc Cultural Partnership (SCP), contributing to the city's
Strategic Cultural Framework 2017-2027 which advocates for the contrlbution that arts and culture makes
to the social, educational, and economic health of Nottingham and the surrounding areas. BroadvRy
engages in a wide range of cultural, community and educational partnershlps which provide a plafform for
collaborative activities throughout the year.
GROUP STRATEGIC REPORT
Flnanclal R•vl•w
The 2023-24 financial year was a signifrAnt one for Broadway, marked by both challenges and
successes. Admissions recovered to 85Ok of pre-pandemic levels, exceeding Inltial expectations.
However. acknowledging the shift in audience behaviour with the rise of streaming services and more
selective cinemagoing. Broadway diversified its offerings. Venue rentals, conferences. courses,
immersive events and film dub partnerships were expanded to maintain audien￿ engagement
throughout the year.
This year also saw a major leadership change WFth the retirement of Steve Mapp, CEO of 15 years, at the
end of June 2023. Lucy Askew took the reins as the new CEO. leading Broadway through a perlod of
strategic adaptation.
Despite a slow start due to limited film releases in the first half of the year, cinema admissions recovered
significantly. Whlle the summer perlod is traditionally quiet, trading was further impacted in June by a 2.5-
day closure followlng an electrical failure and the tragic events in Nottingham. However. the cultural
phenomenon of "Barbenheimert In the second half of the year significantly boosted attendance, followed
by a strong Christmas and Oscar season.

NOTTINGHAM MEDIA CENTRE LIMITED
(A company limited by guarantee and not having a share capital)
REPORT OF THE TRUSTEES FOR THE YEAR ENDING 31 MARCH 2024 (contlnuad)
Financial Review (contlnued)
Despite these challenges, Broadway took proactive steps to address reduced fooffall and fluctuations in
catering revenue. The launch of a new CRM system in October 2023 addressed a long-standing need
Identified by the marketing team. This transition has resulted in a signrficant increase in donations for
2023-24. (£182.819 compared to £158.580 in 2022-23) PLrtting Broadway's marketing and fundraising
capabilities on a strong footing for the future.
Strengthening financial management remained a key priority. The appointment of a new Finan￿ Director
and Beehive Accounting as a subcontractor. alongside the formation of a dedicated Finance arKI Audit
Group with key board members and leadership. demonstrales Broadway's commitment to sound financial
practices. Additionally, Broadway successfully claimed Museums and Galleries Tax Relief. generating an
additional income of £67.460.
Broadway remains committed to achieving long-term financial sustsinability, in particular achieving at
least a break*ven position in the next 2 -3 years. Management accounts are reviewed monthly by the
Senior Management Team (SMT) and quarterly by the Finance and Audit Committee representing the
board of Trustees. With performance against budget monFtored and mitigating actions taken rf required.
Procurement and tendering practices ensure best value purchase of goods. works and services.
Experience of audit and reporting practice required by Communities & Local Government (CLG) when
In recelpt of European funding ensures Broadway operates robust financial systems and informs the
management of best practice when channelling Lottery funding on behaFF of the BFI to third-party
organlsatlons.
After carrying out a revlew, an updated investment and reserves policy which includes an ac￿ptable
level of risk on deposits and Identlfylng appropriate provision for capital investment and unforeseen costs
has been agreed by the Board. This sets out a long-term target for free reserves (exduding designated
reserves) to the equivalent of 12 v￿ekS of turnover.
The net result for the financial year is that Nottingham Media Centre LimFted unrestricted reserves
in￿eased from £1,103,293 to £1,221.755 (including £139,990 designated reserves) equivalent to 23
weeks of turnover (2022123 19 weeks). The reserves policy is therefore adequately being met. Net group
current assets decreased from £617,781 to £616,884. Total funds carried fortrvard were £5,291,913
including restricted funds of £4,070,158 which are ￿presented by fixed assets.
Broadway's commitment extends beyond financial stability. The organisation remalns dedicated to
inspiring creatrvity. supporting Midlands talent, and improving audience diversty. With new budgets for
2024-25 and 2025-26 projecting ambitious growih. Broadway is on a pathway to reducing the flnancial
deficit and achieving long-term financial sustsinability.
ACHIEVEMENTS & PERFORMANCE 2023-24
Cinema Programme
The 2023-24 programme drew a total audien￿ of 170.000 and exceeded initial expectations. Admissions
recovered to 850h of pre-pandemic levels, demonstrating a strong appettte for the diverse range of films
offered. Event cinema continued to be a popular choice. with National Theatre Live produclions
consistently drawing strong audiences. Silver Screen screenings. catering to older adults, also saw a rise
in numbers. reflecting the programme's commitment to serving all demographics.
The top performing films were:
Barbie (10.335 admissions)
Oppenheimer {5.845 admIss￿n8)
Poor Things (4,473 admissions)
Wicked Little Letters (4,305 admissions)
Wonka {3,993 admissions)

NorriNGHAM MEDIA CENTRE LIMrrED
(A company limlted by guarantse and not having a Share capital)
REPORT OF THE TRUSTEES FOR THE YEAR ENDING 31 MARCH 2024 (contlnued)
Cin•ma Programme {contlnued)
The programme showcased range of International titles, classic re-releases. and themed seasons
catering to specific demographics or genres, such as BAME. LGBTQ+ and short form content. Tourlng
festivals like Queer East on Tour, The Japan Foundation Tour, and UK Jewish and French Film Festivals
on Tour also added variety to the programme.
Thanks to BFI'S 'Broaderf' project fundlng, Broadway significantly expanded its OLrtreach to
underrep￿sented communities. Curated seasons and events targeted specific audiences: LGBTQ+
screenings with Q&As, global majority films wlth cultural events, youth programs with teen-oriented
features, and collaborations with local film clubs.
Queer 90,8 season, Teen Dreams, Scorsese, Ari Aster and Klm Kl-young, Wes Anderson and Lars Von
Trier seasons. Powel and Pressburger (everything but the kitchen slck wlth Lounge Trip).
Film Hub Midlands
Film Hub Midlands (FHM) continued to play a crucial role in fostering film culture across the Midlands.
This year, they surpassed targets, reaching over 25,000 peO￿e through varlous initiatives.
Fllm Audi•nc• Network (FAN)
FHM welcomed 48 new members, bringiro their total to 257.
The Film Exhibition Fund awarded grants to 15 projects, totaling £107,050. Additionally, 13 Pitch
Pot awards were made for a total of £19,911, and 2 strategic awards were made totalling
£30,780
FHM hosted events focuslng on programming. with participation from Broadway Cinema and
Mac Birmingham. They also supported the establishment of the Coventy Phoenix Film Festtval
and provided resources for Nottingham Trent University's student4ed film nights.
BFI NETWORK
BFI NETWORK awarded funding to five early feature development projects and 6 Short Film
Fund projects.
Workshops and information sessions were held to provide resources for short film applications.
The team successfully dellvered their first in-person Midlands Directors Lab post-pandemic, wlth
plans to continue the program. Network also hosted screenings, filmmaker roundtables, and
networking events.
BFI Film Academy
Broadway launched a 2-for-1 offer for young people, resulting in over 299 admlsslons over five months.
Additionally, FHM curated a selection of regional short films for the BFI Future Fllm Festival. The Young
Talent Coordinator also hosted a Q&A se&8ton with shortlisted directors, providing valuable insights for
aspiriro filmmakers.
Our Film Academy short course underwent a successful format change. Condensed into two intensive
weeks in October, the program attracted 20 young people aged 16-19 who collaborated on two short
fllms, 'THE DEVIL'S PLAYGROUND" and YHE PROJECTIONIST." showcased at a well-attended event.
This format proved to be engaging and effective, and FHM plans to replicate it in future years.
In collaboration with BFI NETWORK FHM offered a national online lab, 'Developing Stories for Different
Formats.. featuring writer and dlre¢tor Alex Ruhl. This session provided guidance for creators interested
in exploring virtual realty filmmaklng.
Near Now
202>24 marked a signrficant year for Broadway's Near Now programme. with continued support from
Arts Council England National Portfolio Organisation funding.

NorriNGHAM MEDIA CENTRE LIMITED
(A company Ilmlted by guarant￿ and not having a share capltal)
REPORT OF THE TRUSTEES FOR THE YEAR ENDING 31 MARCH 2024 (contlnued)
Near Now (continued)
Crucial support to artists was provided through ongoing support for Near Now Fellowship artists aThJ
Ideas Fund recipients. Near Now Fellow Sophie Huckfield's 'Lady Ludd, project explores the impact of
techrK)logy on labour within Nottingham's historical context. Current project outcornes include a
forthcoming book to be published in 2025 by Common Threads Press, artist talks. public workshops and
collaborations with a Nottingham crafts guild. Iwal artists and academics.
In a mtable ￿llabOratIOn. Near Now partnered with Future Makers on Nottingham artist Katharina Fitrs
Fellowship project and a new 'Waste Plastic Studio. facility. This initiattve explored the potential of
recycled plastic as an artistic material, promoting sustainable practices arKI raising awareness about
responsible plastic consumption. Future Makers were supported to raise £107,000 in grants, including
£67.000 from ACE'S National Lottery Project Grants and £40.000 from Innovate UK'S Creative Catalyst
fund. The collaboration has resulted in new artworks, an eight-week product design accelerator course
for local artist-makers, and a public ariwork commission won by artist Ben Pary.
Outcomes from the Near Now Ideas Fund (2021-2022) continue to enable financial and strategic support
to a diverse range of artists. including Wingshan Smith's collaboration with University of Nottingham's
Mtxed Reality Lab and project exhibited at Backlit gallery. Janhavi Sharma's use of professronal filming
equipment and virtual production equipment provided by Broadway, and Marcus Joseph's development
of a virtual reality experience.
The Near Now Studio programmes continued to foster a vibrant creative network, offering valuable
space. support and resources to artists. A public programme of studio talks, keynote presentatlons and
workshops took place throughout the year. Candice Jacobs. with Near Now's support, secured a
temporary public venue for curatorial project OTOKA, to showcase emerging artists, work, host
exhibitions and public engagement events. The Studio also supported innovative projects like 'Sound
Catchers,, Jess Murray's collaborative outdoor performance integratirKJ sound and technology, and Ryan
Heath's development of 'SOLID STATE DRIVE,, an interactive fiction arcade machine.
Broadway Gallery served as a central platform for artistic expression and community engagement
throughout the year. The gallery hosted a solo exhibition for local artist Andy Williams aka Andy The
Illustrator, alongslde thought-provoking exhibitions such as 'Regim8 Change Begins at Home, an
exhibition of photography and archEve materlals produced by People's Histreh and Sparrows. Nest Library
& Archive, an international residency and exhlbltlon produced by studio member Chris WrNJht.
Plans for Future Perlods
In the coming year. Broadway Cinema will focus on several key priorities to ensure its continued success
and growth. These priorities are driven by a desire to increase financial resilience, enhanc£ diversity and
inclusion, embrace technology. and create a positive workplace culture.
To achieve these goals, we will implement several strategic initiatives. Financially. VR viill explore
opportunities to increase ticket prices and membership fees. expand our course and conferencing
offerings. and f￿uS on growing the profitability of our café-bar. Additionally. we will continue to build upon
our successful "Broadeff program and strengthen communty partnerships to increase audience and staff
diversty. To support our workforce. we will invest in staff training and development and implement
workforce management software.
We are optimistic about the future. despite the challenges faced in re￿nt years. With a promising film
slate on the horizon and a Commitment to diverstying our programming and activities, we are pmjised to
attract a wider audien￿ and strengthen our position within the community. By focusing on these key
priorities and implementing strategic initiatives, we a￿ confident in our ability to thrive and continue to
serve as a valuable cultural asset.

NO￿INGHAm MEDIA CENTRE LIMrrED
(A company limited by guarantea and not having a share capltal)
REPORT OF THE TRUSTEES FOR THE YEAR ENDING 31 MARCH 2024 (continuod)
TRUSTEES, RESPONSIBILrriES IN RELATION TO THE FINANCIAL STATEMENTS
The trustees (who are also the directors of Nottingham Media Centre Limited for the purposes of
company law) are responsible for preparing the trustees. annual report and the financial statements in
accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally
Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year. 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 charitable company and of the incoming resources
and application of resources. including the income and expenditure. of the charitable group for that
period. In preparing these financial statements, the trustees are required to:
select suitable accountlng pollcles and then apply them consistently
observe the methods and principles in the Charities SORP 2019 (FRS 102)
make judgements and estimates that are reasonable and prudent
state whether applicable UK accounting 8tsndard8 have been foll0v￿d, subject to any material
departures disclosed and explained in the financial statements
prepare the financial statements on the going concem basis unless it is inappropriate to presume
that the charity will continue in operation.
The trustees are resFX)nsible for keeping adequate accounting records that disdose with reasonable
accuracy at any time the financial position of the charitable company 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 charitable company and the group and hence for taking reasonable steps for the
prevention and detection of fraud and other irregularities.
In so far as the trustees are aware:
there is no relevant audit information of which the group's auditor is unaware. and
the trustees have taken all steps that they ought to have taken to make themselves aware of any
relevant audit information and to establish that the auditor is aware of that information.
The trustees are responsible for the maintenance and integrity of the corporate and flnancial infomiation
included on the charitable company's website. Legislation in the United Kingdom goveming the
preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

NOThINGHAM MEDIA CENTRE LIMITED
(A company Ilmited by guarantee and not having a Share capltal)
REPORT OF THE TRUSTEES FOR THE YEAR ENDING 31 MARCH 2024 {continued)
AUDrroRS
A resolution will be proposed at the Annual General Meetlng that Rogers Spencer be re-appointed as
auditors to the charity for the ensuing year.
This report has been prepared having taken advantage of the small companies exemption in the
Companies Act 2006.
Approved by the Board of Trustees and signed on its behalf
L Askew - Secretary
Dated....,....08.10.2024.........,,..
io

INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS of
NorriNGHAM MEDIA CENTRE LIMrrED
Opinlon
We have audited the financial statements of Nottingham Media Centre Limlted (the 'parent charitable
company.) and its subsidiary (the 'group'} for the year ended 31 March 2024 which comprise the
consolidated Statement of Financial Activities, the consolidated and charity Balance Sheets. the
consolidated Cash Flow Statement and notes to the financial statements, including significant accounting
policies. The financial reporting framework that has been applied in their preparation is applicable law
and United Kingdom Accounting Standards. including Financial Rewrting Standard 102 The Financial
Reporting Standard applicable in the UK and RepubliG 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 parent charitable company's affairs as at
31 March 2024. and of the group's incoming resources and application of resources. i￿luding its
income and expenditure. for the year then ended:
have been properly prepared in accordance with United Kirodom Generally Accepted Accounting
Practice: and
have been prepared in accordance with the requirements of the Companles Act 2006.
Basls for opinion
We conducted our audit in accordance with International Standards on Audltlng (UK} {ISAs (UK)) and
applicable law. Our responsibilities under those standards are further described in the auditor
responsibilrties for the audit of the financial statements section of our report. We are independent of the
group and parent charitable company in accordance with the ethical requirements that are relevant to our
8udlt of the financial statements in the UK. induding the FRC'S Ethical Standard, and we have fulfilled our
other ethical responsibilities in accordance with these requirements. We believe that the audit evidence
we have obtsined is sufficient and appropriate to provide a basis for our opinion.
Emphasls of matter
We draw your attention to note 14 in the financial statements which describes the uncertalnty of the
valuation of the property at the carrying value of £4,200,040.
We do not modtfy our opinlon with regard to this matter.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees. use of the goiro concern basis
of accounting in the preparation of the financial statements is appropriate.
Based on the y￿rk we have perfomied, we have not identified any material uncertainties relating to
events or conditions that, individually or collectively. may cast signrficant doubt on the group and 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.
Other Infonnatlon
The other information comprises the information included In the trustees. annual report. other than the
financial statements and our auditorfs report thereon. The trustees are responsible for the other
information. Our opinion on the financial statements does not cover the other information and, ex￿pt to
the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion
thereon.
li

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS of
NOThNGHAM MEDIA CENTRE LIMITED (contlnued)
Our responsibility is to read the other information and, in doing so, conskler 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 identlfy 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 informatlon, we are required to report that
fact.
We have nothing to report in this regard.
Opinions on other matters prescrfbed by tho Companies Act 2006
In our opinion. based on the work undertaken in the Course of the audit:
the information given in the trustees, report, which includes the directors report prepared for the
purposes of company law, for the financial year for which the financial ststements are prepared is
consistent with the financial statements; and
the directors report included within the trustees, report has been prepared in accordance with
applicable legal requirements.
Matters on whi¢h we are requlred to roport by oxcoption
In the Ilght of our knowledge and understandirKJ of the group and parent charitable company and its
environment obtained in the course of the audit. we have not identified material mlsstatements in the
directors, report..
We have nothing to report in respect of the following matters in relation to whlch the Companies Act 2006
requires us to report to you if, in our opinion:
adequate accounting records have not been kept by the parent charitable company, or returns
adequate for our audit have not been recelved from branches not vrsited by us. or
the parent charitable company's financial ststements are not in agreement with the accounting
records and returns. or
certain disclosures of trustees. remuneration specIf￿d by law are not made,. or
we have not received all the information and explanations we require for our audit.: or
the trustee8 were not entitled to prepare the firkgncial statements In accordance with the small
companies, regime.
Responslbllitles of tru8tee8
As explained more fully in the trustees, responsibilities statemenc set out within the Report of the Board
of Trustees, the trustees (who are also the directors of the parent charitable company for the purposes of
company law) are responsible for the preparation of the financial statements and for belng 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 ststements that are free from material misstatement, whether due to
fraud or error.
In preparing the financlal statements, the trustees are responsible for assessing the group and parent
charitable company's ablllty to continue as a going concem. disclosing, as applicable, matters related to
going concern and using the golng concem basis of ac¢ounting unless the trustees either intend to
liquidate the group or the parent charltable company or to cease operations. or have no realistic
alternative but to do so.
12

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS of
NO￿INGHAm MEDIA CENTRE LIMrrED (￿ntInued>
Auditorfs responslbllltles for th• audit of the financlal stat￿nant$
Our objectives are to obtaln 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 audltorfs report that
includes our opinion. Reasonable assurance is a high level of assurance. but is not a guarantee that an
audit conducted in accordan￿ with ISAS {UK) will always detect a material misstatement when it exists.
Misstatements can arlse from fraud or error and are considered material rf, 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 responsibllltles, outllned above, to detect material misstatements in respect of
irregularities, induding fraud. The extent to whlch our procedures are capable of detecting irregularlties,
including fraud is detailed below.
The extent to whlch lh• audit was consldered capabl6 of d•tecting irregularities including fraud
Our approach to identrfying and assessing the risk of materlal misstatement in respect of irregularities,
including fraud and non-compliance with laws and regulatlons, was as follows:
The engagement partner ensured that the engagement team collectively had the appropriate
competence, capabilities and skills to identify or recognlse non-compliance with applicable laws and
regulations.
We identified the laws and regulations applicable to the group through discusslons with trustees and
other management, and from our knowledge and experience of the charity sector and grant
providers"
We focused on specrfic laws and regulations which we consldered may have a direct material effect
on the financlal statements or the operations of the group. including the Companies Act 2CM)6,
Charities Act 2011, taxation legislation and 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 inspecting legal correspondence. and
Identified laws and regulations were communicated within the audit team regularly and the team
remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the group's financlal statements to material misstatement, indudlng
obtaining an understanding of how fraud might occur, by:
Making enquirles of management as to where they considered there was susceptiblllty to fraud, their
knowledge of actual, suspected and alleged fraud.
Considering the internal controls in place to mltlgate risks of fraud and non-complian￿ with laws and
regulations. and
Understanding the design of the group's remuneration policies.
To address the risk of fraud through management bias and override of controls, we:
Performed analytical procedures to klentfy any unusual or unexpected relationships:
Tested journal entries to Identlfy unusual transactions,.
Assessed whether Judgements and assumptions made in determining the accounting estimates set
out in note 2 were indicative of potential bias. and
Investigated the rationale behind significant or unusual transactions.
13

INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS of
NO￿INGHAm MEDIA CENTRE LIMITED (contlnued)
In response to the risk of irregularities and non-compliance with laws and regulatlons, we designed
procedures which included, but were not limrted to:
Agreeing financial statement disclosures to underlying supporting documentation..
Reading the minutes of meetings of those charged with governan￿.
Enquiring of management as to actual and potential litigation and claims,. and
Reviewing correspondence with HMRC. relevant regulalors and the company's legal advisors.
There are inherent limitations in our 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 non-
compliance. 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. rf 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 descrlptlon of our responsibilities is available on the FRC'S website at:
htt s:114ww.frc.or
.uklaudltorslaudlt-assurancelauditor-s-res
onsibilities-for-the-audit-of-the-
fildescrl tlon-of-the-audltor%E2 % 80%99s-res
onsibSlltles-for. This description fonns part of our auditorfs
report.
Use of our report
This report is made solely to the charitable company's trustees, as a body, In accordance with Chapter 3
of Part 16 of the Companies Act 2006. 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 auditorfs report and
for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibilty to
anyone other than the charitable company and the charitable company's members as a body, for our
audit work, for this report, or for the opinions we have formed.
Balley FCCA DChA (Senior Statutory Auditor>
For and on bohalf of Rogers Spencar
charter￿ Certified Accountants
Statutory Auditor
N￿st•a￿ House
Polham Road
Nottlngham
NGS 1AP
Rogers Spencer is eligible to act as an auditor in terms of section 1212 of the Companies Act 2(K16.
14

NOThINGHAM MEDIA CENTRE LIMrrED
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES
(Incorporatlng an Income and Exp•ndlture Account)
FOR THE YEAR ENDED 31 MARCH 2024
Curront Year
Unrestrlct•d
Funds
Restricted
Funds
Total
2024
Total
2023
Notes
INCOME:
Donations and legacies
182,819
182,819
158,580
Income from othor trading a¢tivitio8:
Shop sales
Commercial trading operations
43,215
992.298
1035 513
43,215
992,298
1035 513
30.366
898.187
Investment Income
18,783
18.783
5,211
Income from charitable activities:
Operation of the media centre
Grants relating to the operation of the
media centre
1,610,595
1,610,595
1.339.254
215,238
1825 833
314,333
314 333
529,571
2140166
944.458
2 283 712
TOTAL INCOME
EXPENDITURE:
Cost of ralslng funds:
Shop cost of sales
Brochure productlon, webslte and
marketing
Commercial trading operations
24.724
24,724
12,764
83,443
871,283
979 450
83.443
871.283
979 450
49,511
761,707
823 982
Charltable actlvltles
Operation of media centre
2,083,787
570,901
2.654,688
2,953,479
TOTAL EXPENDrruRE
Net (expenditureyincome before
transfers
(289)
(256,568)
(256,857)
(401,405}
Gross transfers between funds
118.751
(118,751)
Net movement of funds in year
118,462
(375,319)
(256,857)
(401,405)
RECONCILIATION OF FUNDS
Total funds brought forward
1,103.293
4,445.477
5,548,770
5,950,175
Total funds carried forward
The statement of financial activities includes all gains and losses recognised in the year.
All incoming resources and resources expended derive from continuing activities.
The notes on pages 21 to 35 form part of these financial statements.
15

NOTTINGHAM MEDIA CENTRE LIMITED
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES
(Incorporating an Income and Expenditure Account)
FOR THE YEAR ENDED 31 MARCH 2024
Prlor Year
Not•8 Unrestricted
Funds
Rostrlcted
Funds
Total
2023
Total
2022
INCOME:
Donations and legacies
158,580
158.580
669,556
Income from other trading actlvltles:
Shop sales
Commerclal tradlng operations
30,366
898.187
928 553
30,366
898,187
928 553
13,451
612,478
Investment Income
5,211
5,211
Income from charitable activitles:
Operation of the media centre
Grants relating to the operation of the
Media centre
1,290,439
48.815
1,339,254
915,436
287,745
1 578 184
656.713
705 528
944,458
2 283 712
795,522
1710958
TOTAL INCOME
70
52
06 539
EXPENDITURE:
Cost of raising funds:
Shop cost of sales
Brochure production, website and
marketing
Commercial trading operations
12,764
12,764
7,778
49.511
761.707
823 982
49,511
761,707
823 982
50,194
628,650
686 622
Charitable activities
Operation of media centre
1,962.434
991,045
2,953,479
2.500,580
TOTAL EXPENDITURE
Net {expenditure)lincome before
transfers
(115.888)
{285,517)
{401.405)
(180,663)
Gross transfers between funds
Net movement of funds in year
(115,888)
(285,517)
(401,405)
{180,663}
RECONCILIATION OF FUNDS
Total funds brought forward
1.219,181
4,730,994
5.950,175
6.130.838
Total funds carrled forward
The statement of financial activities includes all gains and losses recognised in the year.
All incoming resources and resources expended derive from continuing activities.
The notes on pages 21 to 35 form part of these financial statements.
16

NorriNGHAM MEDIA CENTRE LIMrrED
(A company Ilmited by guarantse and not having a share capital)
CONSOLIDATED AND PARENT COMPANY STATEMENTS OF FINANCIAL posrrioN
AS AT 31 MARCH 2024
Group
Company
2024
2024
2023
2023
Not•
Flxed assets
Tangible assets
Investments
14
15
4,787,793
5,064,591
4.776.873
100
5,054,044
100
4.787,793
5,064,591
4,776,973
5,054,144
Current assats
Stock for resale
Debtors
Cash at bank and in hand
21.146
192.652
1,163.238
15.174
106.698
1.059.918
1,774
317,253
940,784
1,454
269,083
813.299
16
1,377,036
1,181,790
1,259,811
1,083,836
Creditors:
Amounts falling due within one
year
17
760,152
564,009
641.182
467.505
Net Current assets
616,884
617,781
618,629
616,331
Total ass8t16ss current
Ilabllltlos
5.404.677
5.682.372
5,395,602
5,670,475
Credltors
Amount falling due after more
than one year
18
112,764
133,602
103,689
121,705
Not Assets
5.291.913
5,548,770
5,291,913
5,548,770
Funds:
Unrestrlcted funds
22
1.221.755
1,103.293
1.221.755
1.103.293
Restricted funds
22
4,070,158
4,445,477
4,070,158
4,445,477
5,291.913
5,548.770
5.291.913
5,548.770
The notes of pages 21 to 35 form part of th888 financial statements.
17

NorriNGHAM MEDIA CENTRE UMITED
(A company Ilmltéd by guaranteo and not havlng a 8har• capltal)
CONSOLIDATED AND PARENT COMPANY STATEMENTS OF FINANCIAL POSITION
AS AT 31 MARCH 20241contlnued)
As pemiltted by $408 of the Companles Act 2006, the parent chaiitable company has not presented its
own statement of financial activitie8 and relatsd notes. The parent charitabl8 company's unrestricted
defic￿ for the year was £289 (2023: £188,819).
These financl81 statements have been prepa￿d in accordance wlth the provlslons appllcable to
companies subject to the small companies regime.
These financial statements were approved by the directm on ...
th8Sr behalf by:
. and slgned on
y. DirBctor
The notes of pages 21 to 35 form part of these financlal 8tatements.
18

NOThINGHAM MEDIA CENTRE LIMITED
(A company Ilmlted by guarante• and not having a share ¢apital)
CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024
Notes
2024
2023
Cash flows from operating aGtlvSties
149,309
(169,043)
Cash flows from Investing activities
Interest incomel(expenditure)
Purchase of tangible fixed assets
6,891
33,928
(3,419)
11.730
Cash used in inva8ting activities
27,037
15,149
Cash flows from financial a¢tivitie6
New loans
Repayment of Bom)wing
18,952
26.038
Cash used in financing artivities
Increa8el(decrease) In cash and ¢ash equlvalents
103,320
(210.230)
Cash and cash equlvalants at 1 April 2023
1.059.918
1.270.148
Total Gash and cash equivalents at 31 March 2024
1,163238
1,059,918
The notes of pages 21 to 35 form part of these financial statements.
19

NorriNGHAM MEDIA CENTRE LIMITED
(A company Ilmlted by guarantee and not havlng a share capltal)
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
1. RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FROM OPERATING
ACTIVITIES
2024
2023
Net incomel(expenditure) for the year before interest
received and paid
(263,748)
(397.986)
Depre¢lation charges
310,509
333,741
Loss on dlsposal of tangible fixed assets
217
(Increase)Idecrease in stocks
{5,972)
(319)
(Increase)Idecrease In debtors
(85,954)
(13,129)
Increasel(decrease) In credltors
91,350
Net ￿$h inflowl(ouffiow) from operating activities
149,309
169,043
2. CASH AND CASH EQUIVALENTS
Year ended 31 March 2024
31 March
2024
31 March
2023
Cash and cash equivalents
1,163,238
1.059,918
1163,238
1,059,918
Year ended 31 March 2023
31 March
2023
31 March
2022
Cash and cash equivalents
1.059.918
1,270,148
1,059,918
1,270,148
3. ANALYSIS OF CHANGES IN NET DEBT
Brought
forward
Carried
forward
Cash-flows
Cash at bank and in hand
Borrowings
1.059,918
160.340
103,320
18,952
1,163,238
141.388
899,578
122.272
1,021,850
The notes of pages 21 to 35 form part of these financial statements.
20

NorriNGHAM MEDIA CENTRE LIMITED
(A company limited by guarantee and not havlng a share capltal)
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
STATUTORY INFORMATION
Nottingham Media Centre Limited is a private company, limited by guarantee registered In England
and Wales. The Companys registered number and registered office address can be found in the
Statutory Information on page 2.
AccouKfiNG POLICIES
The principal accounting policies adopteil. judgements and key sources of estimation uncertainty in
the preparation of the financial statements are as follows:
Basis of Preparation
The financial statements have been prepared in accordance with 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
issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and
Republic of Ireland (FRS 102), the Charities Act 2011. the Companies Act 2006 and UK Generally
Accepted Accounting Practice.
Nottingham Media Centre Limited constitutes a public benefit entty as defined by FRS 102.
The finanaal statements are prepared in sterling which is the functional currency of the charity and
rounded to the nearest £.
Assets and liabilities are inltlally recognised at historical cost or transaction value unless otherwlse
stated in the relevant accountlng pollcy note.
Basis of Consolidatlon
The financial statements consolidate the results of the charitable company and its wholly owned
subsidiary NMC Commercial Ltd on a line by line basis.
The registered offl¢e of the subsidiary company is the same as Nottingham Media Centre Ltd.
Golng concern
Broadway Cinema, represented by Nottingham Media Centre Ltd. is navigating a challenglng but
promising trading environment. Unrestricted reserves Increaslng from £1,103.293, to £1,221,755
with the organisation demonstrating a strong commitment to financial sustalnabilty.
To enhan￿ our financlal oversight, we have established a Finance Group comprised of Trustees
and Senior Staff. This group meets regularly to d05ely monitor our financial performan￿. identify
potents'al risks, and implement strategies to improve our financial position.
Broadway confronted significant challenges in 2023, stemming from the SAG-A￿RA strikes and a
persistent shortfall in pre-pandemic audience leve15. The initial six months of the year were
particularly diff￿ult, ne￿SSIt8ting a reduction in the projected budget for the 2023-26 plan.
Nevertheless, the latter half of the year witnessed encouraging signs of recovery. exemplified by
the resounding success of "Barbenheimer" in July. This blockbuster drew 17.340 patrons and
generated £112,445 in ticket sales. representing a substantial 58% increase compared to the
corresponding period in Ihe previous year. The autumn and winter seasons demonstrated further
resilience, culminating in a robust fourth Quarter that attracted 52.466 attendees and garnered
£359,866 in revenue, marking a 41% improvement over the prior year. These positive trends
sugg8St a promising outlook for Broadway's future. as the industy appears to gradually
rebounding from the challenges posed by the pandemic and. labor dispules.
21

NO￿INGHAm MEDIA CENTRE LIMITED
(A company Ilmlted by guaranta6 and not having a share Gapltal)
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
2. ACCOUNTING POLICIES (CONTINUED)
Going concern (continued)
Furthermore, we hsve Successfully secured a Museum and Gallerles Tax Relief claim worth
£67,000. Thls has significantly improved our financial position for the current year and will pri)vide
additional income for future years. Wlth the hospitslity industy showing signs of recovery, food
infiation falling and a reduction in energy pricing, we are approaching the year ahead with
confidence.
Looking ahead, we have set a long-term target to recover from the impact of previous challenges
and aim for free reserves equivalent to 12 weeks of turnover. While there 8re uncertainties about
the pace of recovery in customer numbers. our prudent investment and reserves policy. along with
our Commitment to financlal sustainability, indicate our determination to weather these challenges.
Our ability to adapt to changing market dynamlcs and maintain a proactive approach to financlal
management remains crucial.
Based on our proactive financial management and positive performance indicators, the Broadway
Cinema Board of Trustees reasonably expects the organisation to continue its operatlonal
existence for the foreseeable future. This allows us to adopt the golng concern basis of accounting
in preparing our flnancial statements.
Income
Income is recognised when the charrtable company has entitlement to the funds, any performance
conditions attached to the items of income have been met, it is probable that the income will be
received and the amount can be measured reliably.
Income from government and other grants, whether 'capital' grants or 'revenue' grants, is
recognised when the charltable company has entitlement to the funds, any performance ￿nditionS
attached to the grants have been met, it is probable that the income will be received and the
amount can be measured rellably and Is not deferred.
Donated Services and facllltlos
Donated professional services and donated facilities a￿ recognised as Income when the charitable
Company has control over the item. any conditions associated with the donated item have been
met, the re￿Ipt of economic benefit from the use by the charitable company of the item is probable
and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS
102), the general volunteer time of the Friends is not recognised and refer to the trustees, annual
report for more Information about their contribution.
On receipt, donated professional services and donated facilities are recognised on the basisi of the
value of the gift to the charltable company which is the amount the charitable company would have
been willing to pay to obtaln servlces or facilities of equivalent economic benefit on the open
market; a corresponding amount Is then recognised in expenditure in the period of receipt.
Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured
reliably by the charit8ble company.. this is nomially upon notification of the interest paid or payable
by the Bank.
R•sources expendod
Expenditure is recognised once there is a legal or constructive obligatlon to make a payment to a
thlrd paty, il is probable that settlement will be required and the amount of the oblig8tion can be
measured ￿lIablY.
22

NOTTINGHAM MEDIA CENTRE LIMITED
(A Gompany limlted by guarantee and not havlng a share capital)
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
2. ACCOUNTING POLICIES {CONTINUED)
Resources exp•ndad (continued)
Expenditure is classified under the following heading.
Costs of raising funds are those costs In￿rred in attracting voluntary income and those
inCu￿ed in trading activities that raise funds.
Charitable activities include expenditure associated with the staging of the film programme.
media events and educational programmes and include both the direct costs and support
costs relating to these activities.
Allocation of support costs
Support costs are those functions that assist the work of the charitable company but do not directly
undertake charitable activities.
Support costs include central functions and premises costs and have been allocated to activity cost
categories on a basis consistent with the use of resources, which are estimated as being- film
programme 600/0, and media events and education 400/0.
Fund accountlng
Unrestricted funds are available to use to further any of the purposes of the charitable Company.
Designated funds are unrestricted funds of the charitsble Company which have been set aside to
fund partFcular future 8¢tivities of the charitable company.
Restricted funds are donated for particular areas of the charilable company's work or specific
projects undertaken.
Fixed assets
Fixed assets are included in the balance sheet at cost less a￿uMulated depreclation. Depreciation
Is provided to write off the cost of fixed assets over their estimated useful lives at the following rates
per annum:
Bulldlngs
2% straight line
Fixtures & flttlngs
10Vo and 20 % on reducing balance
Equipment
200/0 and 25 % on reducing balance
Individual assets costing less than £500 are not usually capitslised.
Investments
Investments in subsidiaries are measured at cost less impairment.
Stock
Stock for resale is valued at the lower of cost and net realisable value.
Deblors
Trade and other debtors are recognised at the settlement amount due after any trade discount
offered. Prepayments are valued at the amount prepaid net of any Irade discounts due.
Cash at bank and In hand,
Cash at bank and cash in hand includes cash and Short term highly liquid investments with a short
maturlty of three months or less from the date of acquisition or opening of the deposit or similar
account.
23

NorriNGHAM MEDIA CENTRE LIMITED
(A company Ilmltod by guarantee and not having a share capital)
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
ACCOUNTING POLICIES (CONTINUED)
Creditors and provisions
Creditors and provisions are recognised where the charitable company has a present obligation
resulting from a past event that will probably result in the transfer of funds to a third party and the
amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions
are normally recognised at their settlement amount after allowing for any trade discounts due.
Leases
Rentals payable under operating leases are charged to the SOFA on a straight line basis over the
period of the lease.
Employee benefits
The charity operates a defined contribution plan for the benefit of its employees. Contributbns a
expensed as they become payable.
Judgements and key sources of estlmatlon un¢ortainty
In the application of the charitable company's accounting policies, the directors are required to
make judgements, estimates and assumptions about the carrying amount of assets and liabilities
that are not readily apparent from other sources. The estimates and associated assumptions are
based on historical experience and other factors that are considered to be relevant. A￿Ual results
may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to
accounting estimates are recognised in the period in which the estimate is revised where the
revision affects only that period, or in the period of the revision and future periods where the
revislon affects both current and future periods.
INCOME FROM DONATIONS AND LEGACIES
Total
Funds
2024
Total
Funds
2023
Unrestricted
Funds
Restricted
Funds
Donations
Grants Receivable..
BFI Audience Fund
22,819
22,819
8.580
160,000
160,000
150.000
182,819
182,819
158,580
Total
Funds
2023
Total
FurKIs
2022
Unrestricted
Funds
Restricted
Funds
Donations
Grants Receivable:
BFI Audience Fund
CJRS Grant
Covid 19 Grants
8.580
8.580
15.647
150,000
150,000
150,000
62,434
441.475
158.580
158,580
669.556
INVESTMENT INCOME
All of the group's investment income of £18.783 (2023: £5,211) arises from money held in interest
bearing deposit accounts.
24

NorriNGHAM MEDIA CENTRE LIMITED
(A company limlted by guarantee and not havlng a share capital)
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
5. INCOMING RESOURCES FROM CHARrrABLE ACTMTIES
Operatlon of the Media Centr•
Total
Funds
2024
Total
Funds
2023
Unrestrlcted
Funds
Restrlct•d
Funds
Box Office admission charges
Events
Room hire and rents
Screen advertising
Other income
1,037,050
317,057
131,640
57,474
67.374
1,037.050
317.057
131.640
57,474
67,374
794,827
353,726
135,168
55,324
209
1.610,595
1.610.595
1,339.254
Total
Funds
2023
Total
Funds
2022
Unrestricted
Funds
Restricted
Funds
Box Office admission charges
Events
Room hire and rents
Screen advertising
other income
794,827
304,911
135,168
55,324
209
794.827
353.726
135.168
55,324
209
554,212
280,204
62,475
18,486
59
48.815
1.290.439
48.815
1,339,254
915,436
Grants relating to the operation of the Media Centrn
Total
Funds
2024
Total
Funds
2023
Unrostricted
Funds
Restricted
Funds
Arts Council of England - NPO
BFI - Film HUB Midlands
BFI - C-Fan Major Programme
Foreshadow Film Fund
others
92,423
112,876
92.423
427,209
109.849
360.748
462,484
1,701
9,676
314333
9,939
9.939
215,238
314.333
529.571
944.458
Total
Funds
2023
Total
Funds
2022
Unrestricted
Funds
Restricted
Funds
Arts Council of England - Capital
Arts Council of England - NPO
BFI - Film HUB Midlands
BFI - C-Fan Major Programme
Foreshadow Film Fund
Nottingham Clty Council
Others
65,991
100.071
373.904
246,515
1,370
7,271
400
109.849
94.432
73,788
109,849
360,748
462,484
1,701
266,316
388.696
1,701
9,676
287,745
656,713
944,458
795,522
25

NorriNGHAM MEDIA CENTRE LIMITED
(A Company limited by guarantee and not havlng a Share capltal)
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
6. ANALYSIS OF SUPPORT FOR CHARrrABLE ACTivrriES
The charity allocates its support costs as shown in the table below and then further 8PPOrtions those
costs between the two charitable activities undertaken (see note 7). Support costs are allocated on
basis consistent with the use of resources which is currently 60.40 in favour of film programme.
Oporatlon of
Media Centre
Total
2024
Totsl
2023
Governance
Staff Costs
Recruitment
Depreciation
Licenses and subscriptions
Consultants and professional fees
Audit and Accountancy fees
Bank charges
Bank loan interest
Office costs
Other costs
318,702
13,847
308,008
22,357
43,459
362,161
13,847
308,008
22,357
9,325
9,983
2,291
10,967
8,520
18,845
408,060
16,473
330,478
16,794
2,713
9,702
14,834
7,990
8,438
19.869
9,325
9,983
2,291
10,967
8,520
18,845
701,246
65,058
766,304
835,351
Operation of
Media Centre
Total
2023
Total
2022
Governance
Staff Costs
Recruitment
Depreciation
Licenses and Subscriptions
Consultants and professional fees
Audit and Accountancy fees
Bank charges
Bank loan interest
Office costs
Other costs
359.093
16,473
330,478
16,794
48,967
408.060
16,473
330,478
16,794
2,713
9,702
14,834
7,990
8,438
373.608
10.442
366.353
10,659
1,413
11,725
15,610
5,463
8,736
7,796
2,713
9,702
14,834
7.990
8.438
19.782
87
759,048
835,351
811,805
7. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTNITIES
Medla
Events &
Education
Film
Programme
2024
2023
Fllm hlre and carriage
Front of house costs
Projection and front of house wages
Media events and education
Premises costs
Support costs
Other expenditure
379,946
33,499
379,770
379,946
33,499
379,770
745,097
350,072
701,246
65,058
284,239
19,317
336,180
1,213,430
264,962
759,048
76,303
745,097
140,029
280,498
26,023
210,043
420,748
39,035
1463,041
1.191,647
2,654,688
2,953,479
Of which..
Unrestricted funds
Restricted funds
1,309,100
153,941
774,687
416,960
2,083,787
570,901
1,962,434
991,045
1,463,041
26
1.191,647
2 654,688
2,953,479

NorriNGHAM MEDIA CENTRE LIMITED
(A company limited by guarantee and not having a share Capital)
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THEYEAR ENDED 31 MARCH 2024
7. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES (Gontinuod)
Media
Events &
Education
Film
Programme
2023
2022
Fllm h[￿ and carriage
Front of house costs
Projection and front of house wages
Media events and education
Premises costs
Support costs
Other expendibjre
284,239
19,317
336,180
284,239
19,317
336,180
1.213,430
264,962
759.048
76.303
233,129
19,488
287,089
918,944
230,125
738.224
73,581
1,213.430
105.985
303,619
30,521
158,977
455.429
45.782
1,299.924
1.653,555
2,953.479
2.500.580
Ofwhich
Unrestricted funds
Restrlcted funds
1.131.373
168,551
831,061
822,494
1.962,434
991.045
1.685,815
814,765
1.299.924
1.653.555
2,953.479
2,500,580
8. INCOME EARNED FROM OTHER ACTIVMES
The charitable company has a wholly owned trading subsidiary NMC Commercial Ltd (company number
06372815). which is incorporated in England and Wales. NMC Commercial Ltd pays all of its profits to
the charity by gift aid. On 1 October 2007. NMC Commercial Ltd took over the operation of the cafe bar
at Nottingham Media Centre Limited's premises. The charitable company owns the entire share capital
of 100 ordinary shares of £1 each.
A summary of the trading results is shown below:
2024
2023
Tumover
Interest receivable
C05t of sales and administration costs
Serrfice charges
992.298
898,187
5.879
832
(871,283) {761.707)
(40,404)
86,490
(86,490)
137.312
(84,381)
Amount gift aided to parent company
Retained in subsidiary
52.931

NO￿INGHAm MEDIA CENTRE LIMITED
(A company limited by guarantee and not having a share capital)
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
INCOME EARNED FROM OTHER ACTIVITIES (Contlnued)
The assets and liabilities of the subsidiary were..
2024
2023
Fixed assets
Current assets
Current liabilities
Non-current liabilities
10,920
250,254
(251,999)
{9.075)
10,547
265,825
{264.375)
(11.897)
Net assets
100
100
During the year the charitable company charged NMC Commerclal Ltd a service charge of
£40,404 (2023: £nil).
NET INCOMING RESOURCES FOR THE YEAR
This Is stated after charglng:
2024
2023
Depreciation
Auditorfs remuneration
Audit services
Accounting services
Other services
Loan Interest
310,509
333,740
10,650
3,550
250
11,892
9,330
3,110
1,250
8,630
10. AUDITOR'S REMUNERATION
The auditorfs ￿muneratIon amounts to an audit fee of £10,650 (2023.. £9,330), accounting services of
£3,550 (2023: £3,110) and other services totalling £250 (2023: £1,250).
11. STAFF COSTS AND KEY MANAGEMENT PERSONNEL
Staff costs were as follows:
2024
2023
Salaries and wages
Social security costs
Penslon Costs
1.405,572
105,723
27,154
1,301,371
107.166
26,228
1,538,449
1,434,765
Total redundancy psyments induded above amounted to £nil {2023: £nil).
28

NOThINGHAM MEDIA CENTRE LIMITED
(A company limiied by guarantee and not havlng a share capital)
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
11. STAFF COSTS AND KEY MANAGEMENT PERSONNEL (CONTINUED)
The number of employees whose emoluments fell within the following bands:
2024
2023
£60,000-£6g,999
The average weekly number of employees during the year, was as follows:
2024
2023
Programme and events
Support to charitable activities and govemance
Café bar
32
31
28
71
The key management personnel of the parent charitable company comprises the Chief Executive,
Programme Director. Development Director, Marketing & Communications Director, Film Hub
Midlands Manager. HR Advisor and Venue Manager. The total employee benefits of the key
personnel of the Gharity were £308,567 (2023: £259,184).
The key management personnel of the group comprise of those of the parent charltable company and
the key management personnel of its subsidiary. NMC Commercial Ltd, whose employee benefits total
£46,079 {2023: £41,680). The employee benefits of key management personnel for the group was
therefore £354,646 {2023.. £300,864)-
None of the trusiees (or any persons connected with them) received any remuneration durlng the
current or previous year.
No expenses were reimbursed to trustees during the year (2023: one trustee £17).
12. PENSIONS
The charity operates a defined contribution pension plan for its employees. The amount recognised as
an expense in the period was £27.154 (2023: £26.228)-
13. INDIVIDUAL STATEMENT OF FINANCIAL ACTIVITY
As perniltted by Section 408 of the Companies Act 2006, the Statement of Financial Activity Is not
presented as part of these financial statements.
29

NorriNGHAM MEDIA CENTRE LIMITED
(A company limited by guarantee and not having a share capital)
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
14. TANG18LE FIXED ASSETS
Group
Fixtures
Fraèhold
Pr•mis
Equipment
Fittings
Total
COST
At 1 April 2023
Additions
Disposals
8.938.050
995.078
33,198
12.620
1.581.665
730
11.514793
33.928
12.620
At 31 March 2024
8,938,050
1,015,656
1,582,395
11,536,101
DEPRECIATION
At 1 April 2023
Provided in year
Eliminated on disposal
4.564,749
173,261
846.987
34.230
12.403
1,038,466
103,018
6,450.202
310,509
12,403
At 31 March 2024
4,738.010
868,814
1.141,484
6,748,308
NET BOOK VALUE
At 31 March 2024
4,200.040
146,842
440.911
4,787,793
At 31 March 2023
4,373,301
148,091
543.199
5.064,591
Company
Fixtur88
Freehold
Premises
Equlpment
Flttlngs
Total
COST
At 1 April 2023
Additions
Disposals
8.938,050
876,433
30,108
1.649,347
730
11A63,830
30,838
At 31 March 2024
8.938,050
901541
1,650,077
11,494,668
DEPRECIATION
At 1 April 2023
Provided in year
Eliminated on disposal
4,564,749
173,261
759,143
31.729
1,085,895
103,018
6,409.786
308.008
At 31 March 2024
4,738.010
790.872
1.188.913
6,717,795
NEf BOOK VALUE
At 31 March 2024
4,200,040
115,669
461,164
4776.873
At 31 March 2023
4.373,301
117,290
563,452
5,054,044
30

NorriNGHAM MEDIA CENTRE LIMITED
(A company Ilmlted by guarantao and not having a sharo capital)
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
14. TANGIBLE FIXED ASSETS (CONTINUED)
Included in the cost of freehold premises is freehold land of £275,000 (2023.. £275.000) which is not
depreciated.
Tangible fixed assets with a carrying value of £4,200,040 (2023.. £4,373,301) are pledged as security for
the group's borrowing facilities.
On 10 May 2018, a valuation of the group's property was undertaken by Christie & Co which refiects ts
value as a fully equipped trading entity. having taken into account the non-commercial aspect of the
charitable company. The directors made the decision to reflect a valuatlon In the financial statements of
the group for the year ended 31 March 2018 of £5.2m, being the Directors assessment of fair value. The
Directors have carried out a review of the valuation in 2018 to support the carrying value of £4,200.040.
This assumes that the level of income will return to previous levels but in the current climate there is
uncertainty about when this will happen.
15. FIXED ASSET INVESTMENTS
Group
2024
Company
2024
2023
2023
Shares in group undertakings
100
100
16. DEBTORS
Group
2024
Company
2024
2023
2023
Trade debtors
Other debtors
Prepayments
Amounts owed by subsidiary
74,184
77,043
41,425
73,741
74,184
163,533
32,997
46,539
73,741
80,118
31,734
83,490
32,957
192,652
106,698
317,253
269.083
17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Group
2024
Company
2024
2023
2023
Bank loans and overdrafts (note 19)
Trade creditors
Taxation and social security
Other creditors
Deferred income (note 21)
Accruals
28,624
249,074
102.605
108.884
91.444
179.521
26,738
130,154
79.941
133.909
62.331
130.936
24,821
209,692
54,815
108,884
91,444
151,526
23,084
103,750
37,062
133,909
62,331
107.369
760.152
564.009
641,182
467.505
18. CREDITORS: AMOUNTS FALLING AFTER MORE THAN ONE YEAR
Group
2024
Company
2024
2023
2023
Bank loans and overdrafts (note 19)
112,764
133,602
103,689
121.705
31

NOTTINGHAM MEDIA CENTRE LIMITED
(A company limited by guarantee and not havlng a share capital)
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
19. LOANS
An analysis of the maturity of loans is given below:
Group
2024
Company
2024
2023
2023
Bank Loans:
Amounts falling due within one year
Amounts falling due after one year
28,624
112,764
26.738
133,602
24,821
103,689
23,084
121,705
Amounts included above which fall due
after five years:
Payable by instalments
8.887
22,817
8,887
22.817
The bank loans are secured by a legal charge over the assets of the group.
20. SECURED DEBTS
The following secured debts are included within creditors:
Group
2024
Company
2024
2023
2023
Bank loans
141,388
160,340
128,510
144.789
The group's bank reserves the right to set off and holds first and third legal charges and a debenture over
the freehold premises of the company.
21. DEFERRED INCOME
Included within creditors is £91,444 of deferred income. The movement can be analysed as follows:
Group
Company
2024
2024
Balance at 1 April
Amount deferred in the year
Amount released in the year
62,331
767,353
738,240
62.331
767.353
738.240
Balance at 31 March
91,444
91,444
22. ANALYSIS OF NEfASSETS BETWEEN FUNDS
Unrestricted Restrf¢ted
Fund8
Funds
2024
2024
Unrestrlcted Restricted
Funds
Funds
2023
2023
Total
2024
Total
2023
Tangible fixed assets
Net current assets
Long term liabilities
717.635
616.884
(112,764)
4,070,158 4,787.793
616,884
(112,764)
737.865 4.326.726 5,064.591
499.030
118.751
617,781
(133,602)
(133,602)
Total
1.221.755
4,070,158 5,291,913
1,103,293 4.445,477 5.548.770
The group's bank reserves the right to set off and holds first and third legal charges and a debenture over
the freehold premises of the company.
32

NorriNGHAM MEDIA CENTRE LIMITED
(A company lirnited by guarantee and not having a share Gapital)
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
23. ANALYSIS OF MOVEMENTS IN FUNDS
Analysis of movèments In unrostrictad fund8
At
Incoming
01104123
Resources
Resources
expended
At
31103124
Transfers
General fund
Desi
nated funds:
Development fund
Capital Build fund
Beyond the Reel fund
986,123
3,039,904
(3,063,013)
118,751
1,081,765
42,350
17.437
57.383
42,350
17,937
79,703
500
22,544
(224)
1,103,293
3,062,948
3,063,237
118,751
1,221,755
At
01104122
Incoming
Resources
ReSoUr￿S
expended
At
31103123
Transfers
General fund
Desi
nated funds..
Development fund
Capital Build fund
Beyond the Reel fund
1,109,797
2,661,199
(2.784,873)
986,123
42,350
16.937
50,097
42,350
17.437
57,383
500
8.829
(1,543)
1,219,181
2,670,528
2,786,416
1,103,293
General fund
The free reserves after allowing for all deslgnated funds.
Dov•lopmont fund
Designated fund to finance future technological advancements in infrastructure.
Capital Build Match fund
This fund was created by selling off old pre-refvrbishment seats from screens 1 and 3 and 81so allowing
people to dedicate the new seats to friends and family. All proceeds have been designated towards the
20-21 capital project by way of match funding in order to raise Income to complete the business and
environmentally sustainable improvements to the building.
Beyond the Reèl fund
The purpose of this fund is to assist individuals to access Cinema. Donations received are intended to be
an evergreen fund. The expenditure will change with the local needs of the community, but currently
comprise donations of tickets to local film banks. womens refuges and the provlslon of travel to allow care
homes to brlng elderly, namely dementia sufferers into the city to experience cinema.
Analysls of movements in restrICt￿ funds
At
01104123
Incoming
Resources
Resources
expended
At
31103124
Transfers
Foreshadow Film fund
BFI Film Hub Midlands
Deferred capital grants
118,751
{118,751)
314.333
(314,333)
(256.568)
4,326.726
4,070,158
4,445,477
314,333
570.901
118,751
4070,158
33

No￿INGHAm MEDIA CENTRE LIMITED
{A cornpany limited by guarantee and not having a sharo capltal)
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
23. ANALYSIS OF MOVEMENTS IN FUNDS {Continued)
Analysls of movements in restricted funds
At
01104122
Incoming
Resources
Resources
expended
At
31103123
Transfers
Foreshadow Filrn fund
BFI Film Hub Midlands
BFI C-Fan Major
Programme
BFI Network
Deferred capital grants
123.350
1,701
266,315
388.696
(6.300)
(266.315)
(388,696)
118.751
48.816
(48,816)
{280,918)
4,607,644
4,326,726
4.730.994
705.528
991.045
4.445.477
Foreshadow Film Fund
In 2014, EM Media, the former Regional Screen Agency for the East Midlands, closed for business. Part
of this process was to dispose of its assets. in accordance with its Memorandum and Articles of
Association, which included those derived from two of its film investment funds,. EMMI ERDF fund and
EMMI 2 Regional Development Agency (EMDA) fund. EM Media subsequently entered into trwo Deed of
Assignments with Nottingham Media Centre Limrted and. respectively, the Secretary of Stste for
Communities and Local Government (for EMMI 1) and The Secretary of Stste for Business Innovatlon
and Skllls (for EMMI 2).
The renamed Foreshadow Film Fund supports single project development of feature-length fiction and
documentary tllms intended for theatrical release. The support may range from seed investment for early
research through to advanced stage investment for packaging necessary to secure production finance.
Broadway wlll also conslder applying the fund to production finance for documentary films; since the
production process can generally be more developmental in nature and progress on small stages of
finance compared to fiction films. Any fundlng would, however be considered as a contribution to a
production's overall budget rather than beSng reserved for Indivldual parts of the production value chain.
The fund has been transferred from restrlcted funds to unrestrlcted funds during the year.
BFI Film Hub Midlands
Film Hub Midlands is a driving force behind film ￿JIture in the Midlands. By providing funding and training,
we aim to help more people in the region watch, make. and show films.
Film has the power to bring people together. change hearts and minds. as we well as entertain and
delight - this most democratic of art forms should have no barrier to entry and we are passionate about
being inclusive and open to all.
The BFI Film Audience Network (FAN) was set up in 2012, using funds from the National Lottery to
support a stronger and more connected approach to growing audiences for British and international film
on the big screen.
Our region covers Derbyshire. Birmingham. Herefordshire, Leicestershire, Lincolnshire, Nottinghamshire,
Northamptonshire, Rutland. Shropshire. Staffordshire. Warknvickshire. and Worcestershire.
BFI C-Fan Major Programmo
Film Hub Midlands is the cross-FAN lead for Major Programmes
four-year. UK-wide. film
programming initiative that deliver two National film seasons each year.. one of which is led by BFI
(Blockbuster) and one which comes from within the Film Audience Network membership.
The aims of the Major Programmes initiative are to:
Increase audience engagement with film and deepen the quality of cultural experience
Increase the confidence of FAN members to screen a wider range of films
Boost the engagement of audiences aged 16-30
Increase the diversity of FAN audiences
Raise the profile of film as an art form and create a dialogue about its place in our cultural lrfe
34

NorriNGHAM MEDIA CENTRE LIMITED
(A company limit￿ by guarantee and not havlng a shar• ¢apital)
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
23. ANALYSIS OF MOVEMENTS IN FUNDS (Continu￿>
BFI Network
BFI Network and Talent Development works within BFI Hub Midlands to support and develop the next
generation of filmmakers at the start of their Ca￿er$. By identifying talent to the BFI, further funding can
be available for short film and early feature development.
Doferred Capital Grants
The restricted fund represents grants for capital expenditure, whith are released over the expected useful
lrfe of the relevant assets.
24. CONTINGENT LIABILITIES
Company
Nottingham Media Centre Limited has guaranteed the bank loan taken out by NMC Commerclal Limited.
25. COMMITMENTS UNDER OPERATING LEASES
In November 2019 the charity entered into a 5 year lease for photocopying equipment. The annual lease
cost is £928 per annum.
Lease commltments
Group
2024
Company
2024
2023
2023
Within one year
Between two to five years
464
928
928
464
1,392
1,392
26. RESERVE CAPITAL
The company is Limited by guarantee wlth no authorlsed or issued share capital. The amounts
guaranteed in the nature of reserve capital are £5. These amounts are only capable of being called up for
the purposes of the winding up of the company.
27. RELATED PARTY TRANSACTIONS
Related party transactions in respect of NMC Commercial Limited have been dlsclosed in note 8 to the
financial statements.
Paul Southby (chaimian of the board of trustees} is a partner at Geldards LLP. During the year,
professional services totalling £nil (2023: £750) were provided by Geldards LLP to Nottingham Media
Centre Limited. At 31 March 2024 a balance of £nil {2023: £nil) is included in cre<litors.
Paul Southby is a Director at Marketing Nottingham and Nottinghamshire Limited. During the year.
Nottlngham Media Centre purchased an annual 'Visit Notts, membership from this company totalliro £396
(2023: £396}. At 31 March 2024 a balance of £nil (2023: £nil} is included in creditors.
There are no further related party transactions during the year {2023: £nil).
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