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← Nottingham Media Centre Limited

2025-03-31-accounts

Company Number 02315936 Charity Number 700880

NOTTINGHAM MEDIA CENTRE LIMITED (A company limited by guarantee and not having a share capital)

ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 MARCH 2025

NOTTINGHAM MEDIA CENTRE LIMITED

CONTENTS

Page
Report of the trustees (including Strategic Report) 1
Independent Auditor’s Report 7
Consolidated Statement of Financial Activities (Current Year) 10
Consolidated Statement of Financial Activities (Prior Year) 11
Consolidated Statement of Financial Position 12
Consolidated Cash Flow Statement 13
Notes to the Consolidated Financial Statements 14

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 2025

The trustees are pleased to present their annual directors’ report together with the consolidated financial statements of the charity and its subsidiary for the year ending March 31, 2025. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” in preparing the annual report and financial statements of the charity.

The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the Memorandum and Articles of Association, the Charities Act 2011, the Companies Act 2006 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) published in October 2019.

CHAIR'S REPORT

It is pleasing to be able to report that Broadway’s performance over this financial period has been better than budgeted, leading to an outcome that is somewhat better than was anticipated. A number of factors have contributed to this including: first and foremost, the efforts of our chief executive and senior leadership team, along with the hard work undertaken by all of Broadway’s staff; secondly a strong film offering in the first few months of the current calendar year which produced significantly improved footfall within Broadway’s building, supporting both the cinema offering and our food and drink offering; and thirdly, Broadway’s increasing focus on ensuring that all spaces within the building are used to maximum effect which has led to significant increases in private hires and in our conferencing business. This has been supported by Broadway’s marketing team and by the customer management system brought in during the previous period, which is now helping to generate new opportunities for the business in their capable hands.

Broadway’s dedicated staff resource charged with increasing contact with, and our offering to, the full spectrum range of local communities continues to make good progress, and over the year we have welcomed many customers who are new to Broadway and some who are new to cinema, thus supporting our charitable mission to inspire a lifelong love of film.

I would like to thank all members of Broadway’s senior leadership team and our board for their hard work and for their support over the year. We have established a board and senior leadership team subgroup focussing on risk management during the year, chaired by John Read, and whilst the group is still in the early stages of its work, I am grateful for what has been achieved so far. Our finance group - chaired by Chris Taylor - has continued to support the senior leadership team and the board well..

The financial support Broadway receives from the BFI (British Film Institute) and from Arts Council England is invaluable and is gratefully received, and our teams enjoy working with both funders. We are grateful for the practical assistance, guidance and support their staff provide, which is invaluable to Broadway’s teams and helps Broadway to fulfil its charitable purpose.

It is pleasing that - at last - we no longer feel constrained to compare Broadway’s current performance with its performance pre-pandemic. Although there remains a some volatility in the marketplace, much of which results from factors outside of Broadway’s control, and which can lead to a level of uncertainty about future performance, the outcome for this financial period supports the proposition that there are good reasons to feel optimistic about the coming year.

P Southby Chair

1

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 2025 (continued)

STATUTORY INFORMATION

Governing 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 (Charity number: 700880) governed by its Memorandum and Articles of Association.

Directors and Trustees

The directors of the charitable company ("the charity") are its 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 2024/25 and up to the date of signing this report:

The Board of Trustees P Southby – Chair C Baxter A Dawson (Resigned 24 February 2025) J Denham E Evans Woodland P Hill L E Moran A Priest J Read J Taylor S Walia Secretary L Askew Key Management Personnel L Askew Chief Executive S Ackrel General Manager A Byrne Venue Manager C Hennigan Programme Director N Rajagopalan HR, Training and Inclusion Manager S Terry Marketing & Communications Director Registered office 14-18 Broad Street Nottingham NG1 3AL Auditors Wenn Townsend 30 St Giles Oxford OX1 3LE Bankers HSBC Bank Plc 26 Clumber Street Nottingham NG1 3GA

2

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 2025 (continued)

Objectives and Activities

Broadway’s charitable purpose is to advance public education and appreciation of the moving image, screen culture and digital creativity. We achieve this through operating a four-screen independent cinema, an artist development and innovation hub, and a community and cultural venue in Nottingham.

Our work is organised around four strategic aims:

We deliver these aims through public programming, education, artist support and sector leadership, supported by public funding from Arts Council England as a National Portfolio Organisation (NPO). This includes our Near Now programme, which supports interdisciplinary digital art and innovation.

We are also the regional lead for Film Hub Midlands, part of the BFI Film Audience Network (FAN), promoting access to diverse screen culture across the region.

Achievements and Performance

In 2024/25, Broadway delivered a vibrant and resilient year of activity, with a surplus on unrestricted funds of £145,595 (2023/24: £28,331). This improvement was underpinned by:

Programming & Engagement

Broadway continued to offer an ambitious and diverse programme of curated film seasons throughout the year. Notable highlights included:

Community Impact & Public Benefit

The trustees confirm that they have complied with their duty to have due regard to the Charity Commission's guidance on public benefit. Broadway’s public-facing programmes, education work, and subsidised activity continue to provide wide-reaching benefit to diverse audiences and communities.

3

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 2025 (continued)

Learning, Artist Development & Inclusion

We continued to support filmmakers, as well as Nonsuch Studios and the NPO organisation Film and Video Umbrella, as tenants in the building, further amplifying our cultural reach

Commercial Growth & Fundraising

Top Performing Titles

Audiences responded enthusiastically to a diverse mix of content. The top ten highest-grossing events included:

  1. Bridget Jones: Mad About the Boy

  2. A Complete Unknown

  3. Conclave

  4. Nosferatu

  5. Wicked

  6. NT Live: Prima Facie (a National Theatre Live event)

  7. Mickey 17

  8. Gladiator II

  9. A Real Pain

  10. The Brutalist

This list demonstrates a healthy mix of mainstream, independent, and event cinema, with Prima Facie standing out as a successful entry in our alternative content strand.

Financial Review

Broadway's consolidated performance in 2024/25 showed an unrestricted surplus of £145,595 (2023/24: £28,331), supported by:

Our cash position at year end was £1,145,420, with free reserves of £592,894, in line with our policy to maintain at least three months' operating costs in unrestricted reserves.

The board continues to monitor the risks posed by fluctuating income from commercial activity and the wider economic environment. Capital investment needs (e.g. electrical infrastructure, solar panels) are under review, with some funding already allocated.

Reserves Policy

At year-end, Broadway held total reserves of £5,244,962, including unrestricted free reserves of £592,894, a designated fixed asset fund of £4,550,275, project-based designated funds of £59,760 and a restricted fund of £42,033. The board considers this level appropriate to manage risk and support strategic investment in programmes, infrastructure, and staffing.

4

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 2025 (continued)

Plans for Future Periods

In 2025/26, Broadway will celebrate its 35th anniversary with a series of activities designed to engage the local community and honour the organisation’s legacy. Planned highlights include:

Alongside these celebrations, Broadway will:

These developments will support Broadway’s long-term financial resilience, artistic ambition, and public benefit.

Structure, Governance and Management

Broadway is a registered charity and a company limited by guarantee. Governance is provided by a Board of Trustees, supported by sub-committees for Finance and Audit and NMC Commercial. Day-to-day operations are managed by the CEO and Senior Leadership Team.

Trustees are recruited through open call and skills-based appointment. The organisation adheres to the Charity Governance Code and maintains robust oversight through regular review of finance, risk and strategy. All new members are inducted by the Chair and made aware of their responsibilities as Trustees in relation 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, specific training and away-days where these are relevant to the undertaking of their roles and responsibilities as Trustees

Staff remuneration is determined through a tiered structure, reviewed annually and benchmarked against sector data. In 2024/25, investment was focused on lower-paid roles to support equity and retention.

Investment Powers

Under the Memorandum and Articles of Association, the Company has the power to make any investment which the trustees see fit.

Risk Management

Trustees review the organisation’s risk register quarterly. Key risks include:

These are mitigated through board oversight, prudent financial management, and strategic investment in core functions.

5

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 2025 (continued)

TRUSTEES’ RESPONSIBILITIES 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 (including the strategic 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:

The trustees are responsible for keeping adequate accounting records that disclose 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:

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

AUDITORS

A resolution will be proposed at the Annual General Meeting that Wenn Townsend be re-appointed as auditors to the charity for the ensuing year.

Approved by the Board of Trustees and signed on its behalf

.................................................. L Askew Secretary

Date 28 July 2025

6

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF NOTTINGHAM MEDIA CENTRE LIMITED

Opinion

We have audited the financial statements of Nottingham Media Centre Limited (the ‘parent charitable company’) and its subsidiary (the ‘group’) for the year ended 31 March 2025 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 Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities 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 audit of the financial statements in the UK, including 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 obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group 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 information

The other information comprises the information included in the trustees’ annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

7

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF NOTTINGHAM MEDIA CENTRE LIMITED

Opinions on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the group and parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors’ report.

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

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement, set out on page x, 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 being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the group and parent charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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

8

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF NOTTINGHAM MEDIA CENTRE LIMITED

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of noncompliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. 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 auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

……………………………………………………..

Date 28 July 2025

Lee Baker FCA (Senior Statutory Auditor)

For and on behalf of Wenn Townsend Chartered Accountants and Statutory Auditor

30 St Giles Oxford OX1 3LE

9

NOTTINGHAM MEDIA CENTRE LIMITED

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (Incorporating an Income and Expenditure Account)

FOR THE YEAR ENDED 31 MARCH 2025

----- Start of picture text -----
|||||||| |---|---|---|---|---|---|---| |Current Year| |Note|Unrestricted Designated Restricted|Total|Total| |Funds|Funds|Funds|2025|2024| |£|£|£|£|£| |INCOME:| |Donations and legacies|3|48,638|160,000|-|208,638|182,819| |Income from other trading activities| |Shop sales|56,163|-|-|56,163|43,215| |Commercial trading operations|8|997,337|-|-|997,337|992,298| |─────── ─────── ─────── ─────── ───────| |1,053,500|-|- 1,053,500|1,035,513| |Investment income|4|23,529|-|-|23,529|18,783| |Income from charitable activities| |Operation of the media centre|5|1,768,292|308,600|- 2,076,892 1,610,595| |Grants relating to the operation| |of the media centre|5|-|132,706|459,539|592,245|529,571| |─────── ─────── ─────── ─────── ───────| |1,768,292|441,306|459,539 2,669,137 2,140,166| |─────── ─────── ─────── ─────── ───────| |TOTAL INCOME|2,893,959|601,306|459,539 3,954,804 3,377,281| |═══════ ═══════ ═══════ ═══════ ═══════| |EXPENDITURE:| |Cost of raising funds:| |Shop cost of sales|27,828|-|-|27,828|24,724| |Brochure production, website| |and marketing|65,859|8,600|-|74,459|83,443| |Commercial trading operations|8|914,854|-|-|914,854|871,283| |─────── ─────── ─────── ─────── ───────| |1,008,541|8,600|- 1,017,141|979,450| |Charitable activities:| |Operation of media centre|7|1,739,823|827,285|417,506 2,984,614 2,654,688| |─────── ─────── ─────── ─────── ───────| |TOTAL EXPENDITURE|2,748,364|835,885|417,506 4,001,755 3,634,138| |═══════ ═══════ ═══════ ═══════ ═══════| |Net (expenditure)/income before| |transfers|9|145,595|(234,579)|42,033|(46,951)|(256,857)| |Gross transfers between funds| |- Fixed asset purchases|(67,741)|67,741|-|-|-| |- Other transfers|139,990|(139,990)|-|-|-| |─────── ─────── ─────── ─────── ───────| |Net movement of funds in year|217,844|(306,828)|42,033|(46,951)|(256,857)| |RECONCILIATION OF FUNDS| |Total funds brought forward|375,050 4,916,863|- 5,291,913 5,548,770| |─────── ─────── ─────── ─────── ───────| |Total funds carried forward|22|592,894 4,610,035|42,033 5,244,962 5,291,913| |═══════ ═══════ ═══════ ═══════ ═══════|

----- End of picture text -----

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 14 to 28 form part of these financial statements.

10

NOTTINGHAM MEDIA CENTRE LIMITED

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (Incorporating an Income and Expenditure Account)

FOR THE YEAR ENDED 31 MARCH 2024 (PRIOR YEAR COMPARATIVES)

----- Start of picture text -----
|||||||| |---|---|---|---|---|---|---| |Prior Year| |Note|Unrestricted Designated Restricted|Total|Total| |Funds|Funds|Funds|2024|2023| |£|£|£|£|£| |INCOME:| |Donations and legacies|3|182,319|500|-|182,819|158,580| |Income from other trading activities| |Shop sales|43,215|-|-|43,215|30,366| |Commercial trading operations|8|992,298|-|-|992,298|898,187| |─────── ─────── ─────── ─────── ───────| |1,035,513|-|- 1,035,513|928,553| |Investment income|4|18,783|-|-|18,783|5,211| |Income from charitable activities| |Operation of the media centre|5|1,588,051|22,544|- 1,610,595 1,339,254| |Grants relating to the operation| |of the media centre|5|215,238|-|314,333|529,571|944,458| |─────── ─────── ─────── ─────── ───────| |1,803,289|22,544|314,333 2,140,166 2,283,712| |─────── ─────── ─────── ─────── ───────| |TOTAL INCOME|3,039,904|23,044|314,333 3,377,281 3,376,056| |═══════ ═══════ ═══════ ═══════ ═══════| |EXPENDITURE:| |Cost of raising funds:| |Shop cost of sales|24,724|-|-|24,724|12,764| |Brochure production, website| |and marketing|83,443|-|-|83,443|49,511| |Commercial trading operations|8|871,283|-|-|871,283|761,707| |─────── ─────── ─────── ─────── ───────| |979,450|-|-|979,450|823,982| |Charitable activities:| |Operation of media centre|7|2,032,123|308,232|314,333 2,654,688 2,953,479| |─────── ─────── ─────── ─────── ───────| |TOTAL EXPENDITURE|3,011,573|308,232|314,333 3,634,138 3,777,461| |═══════ ═══════ ═══════ ═══════ ═══════| |Net (expenditure)/income before| |transfers|9|28,331|(285,188)|-|(256,857)|(401,405)| |Gross transfers between funds| |- Fixed asset purchases|(30,838)|30,838|-|-|-| |- Other transfers|118,751|-|(118,751)|-|-| |─────── ─────── ─────── ─────── ───────| |Net movement of funds in year|116,244|(254,350)|(118,751)|(256,857)|(401,405)| |RECONCILIATION OF FUNDS| |Total funds brought forward|258,806 5,171,213|118,751 5,548,770 5,950,175| |─────── ─────── ─────── ─────── ───────| |Total funds carried forward|22|375,050 4,916,863|- 5,291,913 5,548,770| |═══════ ═══════ ═══════ ═══════ ═══════|

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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 14 to 28 form part of these financial statements.

11

NOTTINGHAM MEDIA CENTRE LIMITED (A company limited by guarantee and not having a share capital)

CONSOLIDATED AND PARENT COMPANY STATEMENTS OF FINANCIAL POSITION AS AT 31 MARCH 2025

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |Note|Group|Company| |2025|2024|2025|2024| |£|£|£|£| |Fixed assets| |Tangible assets|13|4,558,472|4,787,793|4,550,275|4,776,873| |Investments|14|-|-|100|100| |─────── ───────|─────── ───────| |4,558,472|4,787,793|4,550,375|4,776,973| |───────|───────|───────|───────| |Current assets| |Stock for resale|17,658|21,146|2,050|1,774| |Debtors|15|239,658|192,652|305,903|317,253| |Cash at bank and in hand|1,145,420 1,163,238|991,984|940,784| |─────── ───────|─────── ───────| |1,402,736 1,377,036|1,299,937 1,259,811| |Creditors:| |Amounts falling due within one year|16|(635,340)|(760,152)|(524,444)|(641,182)| |─────── ───────|─────── ───────| |Net current assets|767,396|616,884|775,493|618,629| |─────── ───────|─────── ───────| |Total asset less current liabilities|5,325,868 5,404,677|5,325,868 5,395,602| |Creditors:| |Amount falling due after more| |than one year|17|(80,906)|(112,764)|(80,906)|(103,689)| |─────── ───────|─────── ───────| |Net Assets|5,244,962 5,291,913|5,244,962 5,291,913| |═══════ ═══════|═══════ ═══════| |Funds:| |Unrestricted funds|21|592,894|375,050|592,894|375,050| |Designated funds|21|4,610,035 4,916,863|4,610,035 4,916,863| |Restricted funds|21|42,033|-|42,033|-| |─────── ───────|─────── ───────| |5,244,962 5,291,913|5,244,962 5,291,913| |═══════ ═══════|═══════ ═══════|

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As permitted by s408 of the Companies Act 2006, the parent charitable company has not presented its own statement of financial activities and related notes. The parent charitable company’s unrestricted surplus for the year was £145,595 (2024: £289 deficit).

These financial statements were approved by the directors on 28 July 2025 and signed on their behalf by:

………………………………… P Southby Chair

The notes of pages 21 to 35 form part of these financial statements.

12

NOTTINGHAM MEDIA CENTRE LIMITED (A company limited by guarantee and not having a share capital)

CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2025

Notes Notes 2025 2024
£ £
Cash flows from operating activities A 77,306 149,309
Cash flows from investing activities
Interest income/(expenditure) 14,065 6,891
Purchase of tangible fixed assets (67,741) (33,928)
─────── ───────
Cash used in investing activities (53,676) (27,037)
─────── ───────
Cash flows from financial activities
Repayment of Borrowing (41,448) (18,952)
─────── ───────
Cash used in financing activities (41,448) (18,952)
─────── ───────
Increase/(decrease) in cash and cash equivalents (17,818) 103,320
─────── ───────
Cash and cash equivalents at 1 April 2024 B 1,163,238 1,059,918
─────── ───────
Total cash and cash equivalents at 31 March 2025 B 1,145,420 1,163,238
═══════ ═══════
A) RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FROM OPERATING ACTIVITIES
2025 2024
£ £
Net income/(expenditure) for the year (46,951) (256,857)
Net interest (income)/expenditure (14,065) (6,891)
Depreciation charges 297,062 310,509
Loss on disposal of tangible fixed assets - 217
Decrease/(increase) in stocks 3,488 (5,972)
(Increase)/decrease in debtors (47,006) (85,954)
(Decrease)/increase in creditors (115,222) 194,257
─────── ───────
Net cash inflow from operating activities 77,306 149,309
═══════ ═══════
B) CASH AND CASH EQUIVALENTS
2025 2024 2023
Year ended 31 March 2025 £ £ £
Cash and cash equivalents 1,145,420 1,163,238 1,059,918
─────── ─────── ───────
1,145,420 1,163,238 1,059,918
═══════ ═══════ ═══════
C) ANALYSIS OF CHANGES IN NET DEBT
Brought Carried
Forward Cash-flows forward
£ £ £
Cash at bank and in hand 1,163,238 (17,818) 1,145,420
Borrowings (141,388) 41,448 (99,940)
─────── ─────── ───────
1,021,850 23,630 1,045,480
═══════ ═══════ ═══════

The notes of pages 21 to 35 form part of these financial statements.

13

NOTTINGHAM MEDIA CENTRE LIMITED (A company limited by guarantee and not having a share capital)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025

1. STATUTORY INFORMATION

Nottingham Media Centre Limited is a private company, limited by guarantee registered in England and Wales. The Company's registered number and registered office address can be found in the Statutory Information on page 2.

2. ACCOUNTING POLICIES

The principal accounting policies adopted, 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 entity as defined by FRS 102.

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

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.

Basis of Consolidation

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 office of the subsidiary company is the same as Nottingham Media Centre Limited.

Going concern

The trustees consider that Broadway remains a going concern. The charity holds healthy cash reserves, has returned to surplus in 2024/25, and has continued access to core grant funding from Arts Council England and the BFI. Budgets and cashflows for the year ahead indicate sufficient resources to meet operational commitments. The trustees have therefore adopted the going concern basis in preparing these financial statements.

14

NOTTINGHAM MEDIA CENTRE LIMITED (A company limited by guarantee and not having a share capital)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025

2. ACCOUNTING POLICIES (CONTINUED)

Income

Income is recognised when the charitable 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 charitable company has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Donated Services and facilities

Donated professional services and donated facilities are recognised as income when the charitable company has control over the item, any conditions associated with the donated item have been met, the receipt 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 basis of the value of the gift to the charitable company which is the amount the charitable company would have been willing to pay to obtain services 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 charitable company; this is normally upon notification of the interest paid or payable by the bank.

Resources expended

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Expenditure is classified under the following headings:-

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 60%, and media events and education 40%.

15

NOTTINGHAM MEDIA CENTRE LIMITED (A company limited by guarantee and not having a share capital)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025

2. ACCOUNTING POLICIES (CONTINUED)

Fund accounting

Unrestricted funds are available to use to further any of the purposes of the charitable company.

Designated funds are unrestricted funds of the charitable company which have been set aside to fund particular future activities of the charitable company.

Restricted funds are donated for particular areas of the charitable company's work or specific projects undertaken.

Fixed assets

Fixed assets are included in the balance sheet at cost less accumulated depreciation. Depreciation is provided to write off the cost of fixed assets over their estimated useful lives at the following rates per annum:

Buildings 2% straight line Fixtures & fittings 10% and 20% on reducing balance Equipment 20% and 25% on reducing balance

Individual assets costing less than £500 are not usually capitalised.

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.

Debtors

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 trade 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 maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

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. Contributions are expensed as they become payable.

16

NOTTINGHAM MEDIA CENTRE LIMITED (A company limited by guarantee and not having a share capital)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025

2. ACCOUNTING POLICIES (CONTINUED)

Critical accounting estimates and areas of judgement

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. Actual 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 revision affects both current and future periods.

The trustees do not believe there to be any estimates or judgements which have a significant risk of causing a material adjustment to the carrying value of assets and liabilities.

3. INCOME FROM DONATIONS AND LEGACIES

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |Unrestricted Designated Restricted|Total|Total| |Funds|Funds|Funds|2025|2024| |£|£|£|£|£| |Donations|48,638|-|-|48,638|22,819| |Grants Receivable:| |BFI Audience Fund|-|160,000|-|160,000|160,000| |─────── ─────── ─────── ─────── ───────| |48,638|160,000|-|208,638|182,819| |═══════ ═══════ ═══════ ═══════ ═══════| |Unrestricted Designated Restricted|Total|Total| |Funds|Funds|Funds|2024|2023| |£|£|£|£|£| |Donations|22,319|500|-|22,819|8,580| |Grants Receivable:| |BFI Audience Fund|160,000|-|-|160,000|150,000| |─────── ─────── ─────── ─────── ───────| |182,319|500|-|182,819|158,580| |═══════ ═══════ ═══════ ═══════ ═══════|

----- End of picture text -----

4. INVESTMENT INCOME

All of the group’s investment income of £23,529 (2024: £18,783) arises from money held in interest bearing deposit accounts

17

NOTTINGHAM 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 2025

5. INCOMING RESOURCES FROM CHARITABLE ACTIVITIES

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |Operation of the Media Centre| |Unrestricted Designated Restricted|Total|Total| |Funds|Funds|Funds|2025|2024| |£|£|£|£|£| |Box Office admission charges|1,155,866|-|-|1,155,866|1,037,050| |Events| |- Film Academy +|-|57,100|-|57,100|55,944| |- Film Academy Short Course|-|91,500|-|91,500|20,083| |- Talent Development|-|160,000|-|160,000|151,939| |- Other Courses|102,272|-|-|102,272|89,091| |- Deferred income release|83,897|-|-|83,897|-| |Room hire and rents|172,889|-|-|172,889|131,640| |Screen advertising|93,223|-|-|93,223|57,474| |Other income|160,145|-|-|160,145|67,374| |─────── ─────── ─────── ─────── ───────| |1,768,292|308,600|-|2,076,892|1,610,595| |═══════ ═══════ ═══════ ═══════ ═══════| |Prior year|Unrestricted Designated Restricted|Total|Total| |Funds|Funds|Funds|2024|2023| |£|£|£|£|£| |Box Office admission charges|1,037,050|-|-|1,037,050|794,827| |Events|294,513|22,544|-|317,057|353,726| |Room hire and rents|131,640|-|-|131,640|135,168| |Screen advertising|57,474|-|-|57,474|55,324| |Other income|67,374|-|-|67,374|209| |─────── ─────── ─────── ─────── ───────| |1,588,051|22,544|-|1,610,595|1,339,254| |═══════ ═══════ ═══════ ═══════ ═══════|

----- End of picture text -----

Grants relating to the operation of the Media Centre

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |Unrestricted Designated Restricted|Total|Total| |Funds|Funds|Funds|2025|2024| |£|£|£|£|£| |Near Now Project| |- Arts Council|-|102,431|-|102,431|92,423| |- Other|-|30,275|-|30,275|9,939| |BFI Film Hub Midlands|-|-|459,539|459,539|427,209| |─────── ─────── ─────── ─────── ───────| |-|132,706|459,539|592,245|529,571| |═══════ ═══════ ═══════ ═══════ ═══════| |Prior year|Unrestricted Designated Restricted|Total|Total| |Funds|Funds|Funds|2024|2023| |£|£|£|£|£| |Near Now Project| |- Arts Council|92,423|-|-|92,423|109,849| |- Other|9,939|-|-|9,939|9,676| |BFI Film Hub Midlands|112,876|-|314,333|427,209|360,748| |BFI – C-Fan Major Programme|-|-|-|-|462,484| |Foreshadow Film Fund|-|-|-|-|1,701| |─────── ─────── ─────── ─────── ───────| |215,238|-|314,333|529,571|944,458| |═══════ ═══════ ═══════ ═══════ ═══════|

----- End of picture text -----

18

NOTTINGHAM 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 2025

6. ANALYSIS OF SUPPORT FOR CHARITABLE ACTIVITIES

The charity allocates its support costs as shown in the table below and then further apportions those costs between the two charitable activities undertaken (see note 7). Support costs are allocated on a basis consistent with the use of resources which is currently 60:40 in favour of film programme.

Operation of Total Total
Media Centre Governance 2025 2024
£ £ £ £
Staff Costs 364,664 49,726 414,390 362,161
Recruitment 5,259 - 5,259 13,847
Depreciation 294,339 - 294,339 308,008
Licenses and subscriptions 27,240 - 27,240 22,357
Consultants and professional fees - 22,364 22,364 9,325
Audit and Accountancy fees - 10,025 10,025 9,983
Bank charges - - - 2,291
Bank loan interest 9,464 - 9,464 10,967
Office costs 12,872 - 12,872 8,520
Other costs 15,813 - 15,813 18,845
─────── ─────── ─────── ───────
729,651 82,115 811,766 766,304
═══════ ═══════ ═══════ ═══════
Prior year Operation of Total Total
Media Centre Governance 2024 2023
£ £ £ £
Staff Costs 318,702 43,459 362,161 408,060
Recruitment 13,847 - 13,847 16,473
Depreciation 308,008 - 308,008 330,478
Licenses and subscriptions 22,357 - 22,357 16,794
Consultants and professional fees - 9,325 9,325 2,713
Audit and Accountancy fees - 9,983 9,983 9,702
Bank charges - 2,291 2,291 14,834
Bank loan interest 10,967 - 10,967 7,990
Office costs 8,520 - 8,520 8,438
Other costs 18,845 - 18,845 19,869
─────── ─────── ─────── ───────
701,246
65,058		 766,304 835,351
═══════ ═══════ ═══════ ═══════

19

NOTTINGHAM 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 2025

7. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES

Media
Film Events & Total Total
Programme Education 2025 2024
£ £ £ £
Film hire and carriage 486,145 - 486,145 379,946
Front of house costs 78,543 - 78,543 33,499
Projection and front of house wages 398,992 - 398,992 379,770
Media events and education - 875,730 875,730 745,097
Premises costs 200,063 133,375 333,438 350,072
Support costs (note 6) 437,791 291,860 729,651 701,246
Governance costs (note 6) 49,269 32,846 82,115 65,058
─────── ─────── ─────── ───────
1,650,803 1,333,811 2,984,614 2,654,688
═══════ ═══════ ═══════ ═══════
Of which:
Unrestricted funds 1,739,823 2,032,123
Designated funds 827,285 308,232
Restricted funds 417,506 314,333
─────── ───────
2,984,614 2,654,688
═══════ ═══════
Prior year Media
Film Events & Total Total
Programme Education 2024 2023
£ £ £ £
Film hire and carriage 379,946 - 379,946 284,239
Front of house costs 33,499 - 33,499 19,317
Projection and front of house wages 379,770 - 379,770 336,180
Media events and education - 745,097 745,097 1,213,430
Premises costs 210,043 140,029 350,072 264,962
Support costs (note 6) 420,748 280,498 701,246 759,048
Governance costs (note 6) 39,035 26,023 65,058 76,303
─────── ─────── ─────── ───────
1,463,041 1,191,647 2,654,688 2,953,479
═══════ ═══════ ═══════ ═══════
Of which:
Unrestricted funds 2,032,123
Designated funds 308,232
Restricted funds 314,333
───────
2,654,688
═══════

20

NOTTINGHAM 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 2025

8. INCOME EARNED FROM OTHER ACTIVITIES

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:

A summary of the trading results is shown below:
2025 2024
£ £
Turnover 997,337 992,298
Interest receivable 4,857 5,879
Cost of sales and administration costs (914,854) (871,283)
Service charges (40,000) (40,404)
─────── ───────
47,340 86,490
Amount gift aided to parent company (47,340) (86,490)
─────── ───────
Retained in subsidiary - -
═══════ ═══════
The assets and liabilities of the subsidiary were:
2025 2024
£ £
Fixed assets 8,196 10,920
Current assets 177,639 250,254
Current liabilities (185,735) (251,999)
Non-current liabilities - (9,075)
─────── ───────
Net assets 100 100
═══════ ═══════

During the year the charitable company charged NMC Commercial Ltd a service charge of £40,000 (2024: £40,404).

9. NET (EXPENDITURE)/INCOME BEFORE TRANSFERS

This is stated after charging:

This is stated after charging:
2025 2024
£ £
Depreciation 297,062 310,509
Auditor’s remuneration
- Audit services 11,250 10,650
- Accounting services 3,750 3,550
- Other services 115 250
Loan Interest 10,135 11,892
═══════ ═══════

21

NOTTINGHAM 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 2025

10. STAFF COSTS AND KEY MANAGEMENT PERSONNEL

Staff costs were as follows:

Staff costs were as follows:
2025 2024
£ £
Salaries and wages 1,524,512 1,405,572
Social security costs 117,137 105,723
Pension costs 28,903 27,154
─────── ───────
1,670,552 1,538,449
═══════ ═══════

The number of employees whose emoluments fell within the following bands:

2025 2024
£60,000-£69,999 1 1
═══════ ═══════

The average weekly number of employees during the year, was as follows:

2025 2024
Programme and events 5 5
Support to charitable activities and governance 34 32
Café bar 34 34
─────── ───────
73 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 charity were £337,953 (2024: £308,567).

The key management personnel of the group comprise of those of the parent charitable company and the key management personnel of its subsidiary, NMC Commercial Ltd, whose employee benefits total £47,505 (2024: £46,079). The employee benefits of key management personnel for the group was therefore £385,458 (2024: £354,646).

None of the trustees (or any persons connected with them) received any remuneration during the current or previous year.

No expenses were reimbursed to trustees during the year (2024: £nil).

11. PENSIONS

The charity operates a defined contribution pension plan for its employees. The amount recognised as an expense in the period was £28,903 (2024: £27,154).

12. INDIVIDUAL STATEMENT OF FINANCIAL ACTIVITY

As permitted by Section 408 of the Companies Act 2006, the Statement of Financial Activity is not presented as part of these financial statements.

22

NOTTINGHAM 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

13. TANGIBLE FIXED ASSETS

GROUP Freehold Fixtures &
Premises Equipment Fittings Total
£ £ £ £
COST
At 1 April 2024 8,938,050 1,015,656 1,582,395 11,536,101
Additions 4,196 33,417 30,128 67,741
Disposals - - - -
─────── ─────── ─────── ───────
At 31 March 2025 8,942,246 1,049,073 1,612,523 11,603,842
═══════ ═══════ ═══════ ═══════
DEPRECIATION
At 1 April 2024 4,738,010 868,814 1,141,484 6,748,308
Provided in year 173,261 34,380 89,421 297,062
Eliminated on disposal - - - -
─────── ─────── ─────── ───────
At 31 March 2025 4,911,271 903,194 1,230,905 7,045,370
═══════ ═══════ ═══════ ═══════
NET BOOK VALUE
At 31 March 2025 4,030,975 145,879 381,618 4,558,472
═══════ ═══════ ═══════ ═══════
At 31 March 2024 4,200,040 146,842 440,911 4,787,793
═══════ ═══════ ═══════ ═══════
COMPANY Freehold Fixtures &
Premises Equipment Fittings Total
£ £ £ £
COST
At 1 April 2024 8,938,050 906,541 1,650,077 11,494,668
Additions 4,196 33,417 30,128 67,741
Disposals - - - -
─────── ─────── ─────── ───────
At 31 March 2025 8,942,246 939,958 1,680,205 11,562,409
═══════ ═══════ ═══════ ═══════
DEPRECIATION
At 1 April 2024 4,738,010 790,872 1,188,913 6,717,795
Provided in year 173,261 31,657 89,421 294,339
Eliminated on disposal - - - -
─────── ─────── ─────── ───────
At 31 March 2025 4,911,271 822,529 1,278,334 7,012,134
═══════ ═══════ ═══════ ═══════
NET BOOK VALUE
At 31 March 2025 4,030,975 117,429 401,871 4,550,275
═══════ ═══════ ═══════ ═══════
At 31 March 2024 4,200,040 115,669 461,164 4,776,873
═══════ ═══════ ═══════ ═══════

Included in the cost of freehold premises is freehold land of £275,000 (2024: £275,000) which is not depreciated. Tangible fixed assets with a carrying value of £4,030,975 (2024: £4,200,040) are pledged as security for the group’s borrowing facilities.

23

NOTTINGHAM MEDIA CENTRE LIMITED (A company limited by guarantee and not having a share capital)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025

14. FIXED ASSET INVESTMENTS

FIXED ASSET INVESTMENTS
Group Company
2025 2024 2025 2024
£ £ £ £
Shares in group undertakings - - 100 100
═══════ ═══════ ═══════ ═══════
DEBTORS
Group Company
2025 2024 2025 2024
£ £ £ £
Trade debtors 75,627 74,184 75,627 74,184
Other debtors 108,963 77,043 108,440 163,533
Prepayments 55,068 41,425 46,996 32,997
Amounts owed by subsidiary - - 74,840 46,539
─────── ─────── ─────── ───────
239,658 192,652 305,903 317,253
═══════ ═══════ ═══════ ═══════

15. DEBTORS

16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Group Company Company
2025
2024		 2025 2024
£
£		 £ £
Bank loans and overdrafts (note 19) 19,034
28,624		 19,034 24,821
Trade creditors 197,411
249,074		 162,000 209,692
Taxation and social security 130,666
102,605		 81,759 54,815
Other creditors 100,847
108,884		 98,989 108,884
Deferred income (note 20) 47,392
91,444		 47,392 91,444
Accruals 139,990
179,521		 115,270 151,526
───────
───────		 ─────── ───────
635,340
760,152		 524,444 641,182
═══════
═══════		 ═══════ ═══════
17. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Group Company
2025
2024		 2025 2024
£
£		 £ £
Bank loans and overdrafts (note 19) 80,906
112,764		 80,906 103,689
═══════
═══════		 ═══════ ═══════
18. SECURED DEBTS
The following secured debts are included within creditors:
Group Company
2025
2024		 2025 2024
£
£		 £ £
Bank loans and overdrafts (note 19) 99,940
141,388		 99,940 128,510
═══════
═══════		 ═══════ ═══════

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.

24

NOTTINGHAM MEDIA CENTRE LIMITED

(A company limited by guarantee and not having a share capital)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025

19. LOANS

An analysis of the maturity of loans is given below:

Group Group Company Company
2025 2024 2025 2024
£ £ £ £
Bank Loans:
Amounts falling due within one year 19,034 28,624 19,034 24,821
Amounts falling due after one year 76,922 112,764 76,922 103,689
Amounts included above which fall due after five years:
Payable by instalments 3,984 8,887 3,984 8,887
═══════ ═══════ ═══════ ═══════

The bank loans are secured by a legal charge over the assets of the group.

20. DEFERRED INCOME

The movement on deferred income in the year can be analysed as follows:

2025 2024
£ £
Balance at 1 April 91,444 62,331
Amount deferred in the year 47,392 91,444
Amount released in the year (91,444) (62,331)
─────── ───────
Balance at 31 March 47,392 91,444
═══════ ═══════

21. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Unrestricted Designated Unrestricted Designated Restricted Total Total
Funds Funds Funds 2025 2024
£ £ £ £ £
Tangible fixed assets 8,197 4,550,275 - 4,558,472 4,787,793
Net current assets 665,603 59,760 42,033 767,396 616,884
Long term liabilities (80,906)
-		 - (80,906)
(112,764)
─────── ─────── ─────── ─────── ───────
592,894 4,610,035 42,033 5,244,962 5,291,913
═══════ ═══════ ═══════ ═══════ ═══════
PRIOR YEAR Unrestricted Designated Restricted Total
Funds Funds Funds 2024
£ £ £ £
Tangible fixed assets 10,920 4,776,873 4,787,793
Net current assets 476,894 139,990 - 616,884
Long term liabilities (112,764)
-		 - (112,764)
─────── ─────── ─────── ───────
375,050 4,916,863 - 5,291,913
═══════ ═══════ ═══════ ═══════

25

NOTTINGHAM MEDIA CENTRE LIMITED (A company limited by guarantee and not having a share capital)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025

22. ANALYSIS OF MOVEMENTS IN FUNDS

At 1 April Incoming Resources At 31 March At 31 March
2024 Resources Expended Transfers
2025
£ £ £ £
£
UNRESTRICTED FUNDS
General fund 375,050 2,893,959 (2,748,364)
72,249
592,894
═══════ ═══════ ═══════ ═══════ ═══════
DESIGNATED FUNDS
Fixed asset fund 4,776,873 -
(294,339)
67,741		 4,550,275
Development fund 42,350 - - (42,350)
-
Capital Build Match fund 17,937 -
-		 (17,937)
-
Beyond the Reel fund 79,703 -
-		 (79,703)
-
Project funds
Near Now - 132,706
(107,086)
-
25,620
Talent Development - 160,000
(132,146)
-
27,854
Film Academy Plus - 57,100
(50,814)
-
6,286
Audience Projects fund - 160,000
(160,000)
-
-
Film Academy Short Course - 91,500
(91,500)
-
-
─────── ─────── ─────── ─────── ───────
4,916,863 601,306
(835,885)
(72,249) 4,610,035
═══════ ═══════ ═══════ ═══════ ═══════
RESTRICTED FUNDS
BFI Film Hub - 459,539 (417,506)
-
42,033
═══════ ═══════ ═══════ ═══════ ═══════
TOTAL 5,291,913 3,954,804 (4,001,755)
-
5,244,962
═══════ ═══════ ═══════ ═══════ ═══════
PRIOR YEAR At 1 April Incoming Resources At 31 March
2023 Resources Expended Transfers
2024
£ £ £ £
£
UNRESTRICTED FUNDS
General fund 258,806 3,039,904 (3,011,573)
87,913
375,050
═══════ ═══════ ═══════ ═══════ ═══════
DESIGNATED FUNDS
Fixed asset fund 5,054,043 - (308,008)
30,838
4,776,873
Development fund 42,350 - - -
42,350
Capital Build Match fund 17,437 500
-		 -
17,937
Beyond the Reel fund 57,383 22,544 (224)
-
79,703
─────── ─────── ─────── ─────── ───────
5,171,213 23,044
(308,232)
30,838		 4,916,863
═══════ ═══════ ═══════ ═══════ ═══════
RESTRICTED FUNDS
Foreshadow Film Fund 118,751 -
-		 (118,751)
-
BFI Film Hub - 314,333 (314,333)
-
-
─────── ─────── ─────── ─────── ───────
118,751 314,333 (314,333)
(118,751)
-
═══════ ═══════ ═══════ ═══════ ═══════
TOTAL 5,548,770 3,377,281 (3,634,138)
-
5,291,913
═══════ ═══════ ═══════ ═══════ ═══════

26

NOTTINGHAM MEDIA CENTRE LIMITED

(A company limited by guarantee and not having a share capital)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025

22. ANALYSIS OF MOVEMENTS IN FUNDS (CONTINUED)

General fund

The free reserves after allowing for all designated funds.

Fixed asset fund

The fixed asset fund represents the value of all fixed assets held by the charity (and not by the trading subsidiary). Where a new asset is purchased, the cost is shown as a transfer to the fixed asset fund from the general / restricted fund accordingly. All depreciation is charged to the fixed asset fund.

Development fund

Designated fund to finance future technological advancements in infrastructure.

Capital Build Match fund

This fund was created by selling off old pre-refurbishment seats from screens 1 and 3 and also 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. The remaining balance on this fund has been released to general funds in the year.

Beyond the Reel fund

The purpose of this fund was to assist individuals to access cinema. The remaining balance on this fund has been released to general funds in the year as this purpose is considered part of the charity’s core activities.

Project Funds - Near Now, Talent Development, Film Academy Plus, Audience Projects fund and Film Academy Short Course

The five separate project funds represent multi-year agreements to support the charity’s activities in accordance with the names of the fund. In each case, the funds are designated to allow for any project related surpluses or deficits in the year to be clearly identified and carried across to the following year.

BFI Film Hub Midlands

Film Hub Midlands is a driving force behind film culture 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, Warwickshire, and Worcestershire.

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 two Deed of Assignments with Nottingham Media Centre Limited and, respectively, the Secretary of State for Communities and Local Government (for EMMI 1) and The Secretary of State for Business Innovation and Skills (for EMMI 2). The renamed Foreshadow Film Fund supported single project development of feature-length fiction and documentary films 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 will also consider 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 funding would, however be considered as a contribution to a production’s overall budget rather than being reserved for individual parts of the production value chain. The fund has been transferred from restricted funds to unrestricted funds during the year.

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NOTTINGHAM MEDIA CENTRE LIMITED (A company limited by guarantee and not having a share capital)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025

23. CONTINGENT LIABILITIES

Nottingham Media Centre Limited has guaranteed the bank loan taken out by NMC Commercial Limited.

24. COMMITMENTS UNDER OPERATING LEASES

In November 2019 the charity entered into a 5-year lease for photocopying equipment which has now expired. The annual lease cost was £928 per annum.

Lease commitments

----- Start of picture text -----
Group Company
2025 2024 2025 2024
£ £ £
Within one year - 464 - 464
Between two to five years - - - -
----- End of picture text -----

25. RESERVE CAPITAL

The company is Limited by guarantee with no authorised 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.

26. RELATED PARTY TRANSACTIONS

Related party transactions in respect of NMC Commercial Limited have been disclosed in note 8 to the financial statements.

Paul Southby is a Director at Marketing Nottingham and Nottinghamshire Limited. During the year, Nottingham Media Centre purchased an annual ‘Visit Notts’ membership from this company totalling £396 (2024: £396). At 31 March 2025 a balance of £nil (2024: £nil) is included in creditors.

There are no further related party transactions during the year that require disclosure (2024: £nil).

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