REGISTERED COMPANY NUMBER: N1032251 (Northern Ireland) REGISTERED CHARITY NUMBER: NIC 102004 ort of the Trustees and Unaudited Financial Statements for the Year Ended 31 March 2023 for Belfast Film Festival Limited Acom an Limited b Guarantee Lynn Drake & Co Ltd Charter¢d Accountants I st Floor 34 B-D Main Street Moira Co. Armagh BT67 OLE
Belfast Film Festival Limited Contents of the Financial Statements for the Year Ended 31 March 2023 Page Referenee and Administrative Details Report of the Trustees 2 to 10 Independent Examiner's Report Statement of Financial Activities 13 Statement of Financial Position 14 to 15 Notes to the Financial Statements 16 to 29 Detailed Statement of Financial Activities 30 to 31
Belfast Film Festival Limited Reference and Administrative Details for the Year Ended 31 March 2023 TRUSTEES Dr Laurence McKeown Treasurer Kevin Jackson Louise O'meara Mark Cousins Stepped down as Chair 9 February 2023 Lisa Barros D'sa appointed Co-chairperson (0910212023) Lucy Baxter Nisha Tandon (appointed 161412022) Marie-Therese McGivern Co-chairperson (appointed 91212023) COMPANY SECRETARY Michele Devlin REGISTERED OFFICE 23 Donegall Street Belfast Co. Antrim BTI 2FF REGISTERED COMPANY NUMBER N1032251 (Northern Ireland) REGISTERED CHARITY NUMBER NIC 102004 INDEPENDENT EXAMINER Lynn Drake & Co Ltd Chartered Accountants I st Floor 34 B-D Main Street Moira Co. Armagh BT67 OLE CHIEF EXEC OFFICER Ms Michele Devlin FINANCIAL ADVISERS CRN Financial Group l For¢stgrovc Business Park Newtownbreda Road Belfast BT8 6AW
Belfast Film Festival Limited ort of the Trustees for the Year Ended 31 March 2023 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019). OBJECTIVES AND ACTIVITIES Mission Statement l Aims l Objectives MISSION STATEMENT Our mission is to promote a diverse and dynamic programme of film events, and outreach activity, which is entertaining, provocative and provides a platform for cultural expression and debate. AIMS AND OBJECTIVES Aim l.. Deliver the annual Belfast Film Festival and Docs Ireland, which will exhibit local and international films Related Objectives (i) Organise a citywide film festival each year in November and a documentary festival in June involving film exhibition, seininars, workshops and master classes. (li) Bring national and international film premieres to Belfast. (iii) Showcase the work of local film - makers (iv) Provide an industry marketplace as part of Docs Ireland. Aim 2.. Enhance the profile & status of the Belfast Film Festival within the cultural life of Belfast Related Objectives (i) Actively contribute to the establishment of a Belfast Film Centre (li) Develop a year-long programme of film events. (iii) Develop and implement an effective PR strategy. (iv) Coiitribute towards making B¢lfast a more attractive destination for visitors. Aim 3: Promote access to film and the film making process Related Objectives (i) Build relationships between local communities and the film industry (li) Facilitate opportunities for volunteers to gain experience in film related events. (iii) Consult communities in order to enhance their involvement in the Festival programme. (iv) Contribute to enhancing the profile of the local film industry. Aim 4.. Maintain a sustainable structure and funding base for the Belfast Film Festival Related Objectives (i) Obtain funding for BFF activities (ii) Employ staff to carry out BFF'S programm¢ of work (iii) Undertake regular planning, monitoring and evaluation of BFF strategy and activities (iv) Develop and implement a training plan. (v) Build partnerships as required with relevant stakeholders
Belfast Film Festival Limited ort of the Trustees for the Year Ended 31 March 2023 OBJECTIVES AND ACTIVITIES Public benefit The purpose of Belfast Film Festival Ltd is to prcscnt, promote, organise, provide, manage and produce such specialized (cultural, lesser seen, archive) film screenings and events, community based film activities, film related outreach work in marginalized communities, broadcasts, concerts, musical pieces, entertainment and exhibitions, whether on any premises of the Company or elsewhere, as are conducive to the promotion, maintenance, iinprovement and advancement of education or to the encouragement of the art of film, or the arts. The direct benefits flowing from this purpose include. the promotion and enjoyment, better understanding and general advancement of the arts and film, for the benefit of the general public in Northern Ireland through exposure to, as an audience member or participant through outreach work in Inarginalized communities and schools, the arts and film. These benefits can be demonstrated by regular internal and external qualitative assessment. audiences and participation. photo and video documentation. regular reporting of charitable activities and financial performance in annual reports, audited annual accounts, and reports to grant funders. The purposes of our ¢harTty will not lead to any harm, although there are policies and procedures in place to address certain risks, for example safeguardiiig and child protection policies health and safety policy code of conduct for staff and volunteers equal opportunities policy disability policy and safeguarding policy. The charity's beneficiaries are the general public in Northern Ireland. Specific projects may address the needs of specific sections of society (e.g. access to film and the arts project targeting social needs in particular electoral wards). The only private benefit flowing from the purpose is artists and filmmakers benefit from exposure to a wider audience, which may result in their gaining a higher profile. This is incidental to tlie achievement of the purpose and, while a private benefit, is necessary to help the charity achieve our charitable purpose.
Belfast Film Festival Limited ort of the Trustees for the Year Ended 31 March 2023 ACHIEVEMENT AND PERFORMANCE DOCS IRELAND 4 The international documentary festival ran for 5 days 29 June to 3 July, and offered 58 screenings and special events in 12 venues across the city, where public audiences and industry professionals encountered both rising stars and documentary filinmaking legends. Music and culture were two key themes of this year's festival which opened with a now highly lauded documentary based on tlie life and career of Irish singer Sinéad O'connor. Directed by Belfast-born filmmaker Kathryn Ferguson, Nothing Compares has gone on to great critical acclaim, sell-out audiences and numerous awards. The festival continues to give emerging filmmakers the opportunity to meet and learn from seasoned industry experts througli a series of masterclasses, workshops, panel discussions and 'in-conversation' sessions. This industry side of the festival is gaining traction both in terms of projects and Calibre of participant. This year, the Marketylace, where filmmakers can meet one-to-one with leading international documentary industry decision makers, including international funders, broadcasters, distributors and exhibitors, welcomed 33 decision-jnakers from Ireland, UK, Germany, Austria, USA, Portugal, Israel, Poland, Finland, The Netherlands. It is the only marketplace dedicated to documentary on the island of Ir¢land and is acknowledged as an incubator for nurturing both domestic and international talent. The Northern Ireland Screen Documentary development pitch returned for the third year and presented six feature documentary project pitches from filmmakers across Ireland, in a competition to receive an award of up to £7,500 towards a pilot for their documentary feature. The industry programme offered a series of informative events including Fair Use for Docuinentary Film Archive; an ¢xamination of the mental health crisis in the filin industry in our Whole Picture presentation; a focus on the European industry with a view to strengthening those filmic partnerships. a case study of TV series Once Upon a Tiine in Belfast (w/t) - currently in production in Northern Ireland and a case study of award-winning Young Plato. Awards wer¢ given to: o Short Irish documentary 2 x winners.. Director Sheena Walsh 'Mam's Old Chair, and Director Sam Howard 'Ireland's Last Matchmaker, o NI Screen Pitch winner was 'They Say It Is Love, by Director.. Roisin Agnew o Pull Focus Best Irish Film winner: An Buachaill Geal Gaireach / The Laughing Boy, Director Alan Gilsenan The IGNITE Talent DeveIopment Programme, which seeks to foster a new generation of Irish documentary filmmakers from the north and south of Ireland, is a joint initiative of Cork International Film Festival & Docs Ireland. 6 documentary teams participated in the bilingual programme, directed at emerging Irish documentary filmmakers embarking on their first or second non-fiction feature film. This Unique training programme continues to grow in stature and popularity. Outreach and Inclusion activity for Docs Ireland included the allocation of between 20 30 complimentary and discountcd tickets for 14 screenings and events. Groups targetcd comprised Irish Language groups (for e.g.The Laughing Boy), Amnesty Nl, students, young people and groups supporting those in hard to r¢ach and from areas of deprivation, including Belfast Friendship Club and ACSONI etc. A Talent Development programme for young & new to the sector was run by the 3 festivals interns who curated a programme of films for Docs Ireland Fringe - "Treasures of the Archive they screened 5 films over a weekend and all films included a post-film discussion with each curator.
Belfast Film Festival Limited ort of the Trustees for the Year Ended 31 March 2023 The 22nd Belfast Film Festival returned in all its physical, in-person, post-pandemic glory this year, complete with a new programming team, an international competitive element and award-winning jury, as well as a home-grown premiere as the opening night film. The new programming team of Jessica Kiang and Rose Baker brought unbridled energy, passion and ambition to this year's festival and curated a full and exciting programme of premieres and gala screenings, panel talks, and special events whicli showcased the wealth of local talent and shone a spotlight on the best up-and-coming international talent. Opening the festival was the world premi¢r¢ of Ballywalter, starring comedian Patrick Kielty in his acting debut. Directed by Prasanna Puwanarajah and written by Belfast's own Stacey Gregg (Here Before), the film follows Eileen (Seana Kerslake), a caustic, unrepentant University drop-out whose dreains of a successful life in Londoii have fallen by the wayside. In the spirit of cross-border collaboration, the festival closed with a joint Irish Premiere with the Cork Film Festival of the highly anticipated Aftersun starring Paul Mescal, which had been generating significant buzz since its world première at the Cannes Film Festival in May. This year's festival saw the launch of new awards, presented by a jury of international filmmakers and industry professionals, including BAFTA and Acad¢my-Award-winning auteur Andrea Arnold. The International Fcature Competition offered a total prize fund of £IO,OOO' the Director of a first or second feature competed to win £7,000 for Best Film Director, while Jury Prizes of £1,500 each were awarded for Outstanding Craft Contribution and Breakout Performance. A vibrant New Cinema selection was packed with premieres, including Venice 2022 winner All the Beauty and the Bloodshed. We slione a solidarity spotlight on Ukrainian cinema and screened imprison¢d Iranian filmmaker Jafar Panahi's No Bears. The new Blurred Lines strand offered hybrid docs, includiiig the genius of Charlie Shackleton with As Mine Exactly. Actor/directors Prasanna Puwanarajah (Ballywalter) and Tony Devlin (The Quarry) both presented feature debuts. The UKllreland premiere of Mark Cousins, The March on Rome was a timely contribution, exploring the ascent of Italian fascism. Further highlights included a Scary Women horror strand, an XR Festival in collaboration with Deepa Mann-Kler, and a rare opportunity to see Douglas Sirk masterpieces on the big screen. Using the built heritage venue of the old Bank of Ireland, the Vox Populi event was a cinematic tour offering a selected archive of short'vox pop, interviews from tlie people of Northern Ireland. There are two major factors which have influenced the state of the company the Covid pandemic and the cost of living crisis. Bearing in mind that the planning for our festivals was completed before both th¢se happpened, these mitigating factors have had serious detrimental effects on various aspects of our company. It has been much more difficult to secure volunteers this past year. audience numbers are taking a long time to com¢ back to anywhere near pre-pandemic levels - some people still do not wish to come out and sit in rowded spaces. The cost of living has an impact - cinema is not seen as an essential purchase. Box office income was less than projected. And of course, as everyone knows, costs continue to rise. Guest travel was much higher than projected - particularly flights, even with th¢ 'budget airlines. We lost two sources of income - we were unsuccesful in our bid this year to Tourism NI and the BFI r¢duced our funding (by £8K) through Film Hub Nl. We have had major staff changes. Our programmer moved to a new role in a new organisation (CQAF) and with the changes in the dellvery of our festivals, content, we have ramped up our profile and employed 2 new programmers - one responsible for international films and another responsible for UKllreland.
Belfast Film Festival Limited ort of the Trustees for the Year Ended 31 March 2023 FINANCIAL REVIEW Financial position The company had net outgoing resources for the year of £32,066 (2022: net incoming resources of £57,244), which reflected the completion of a number of projects during the year.At 31 March 2023 Unrestricted funds increased by £63,076, while restrlcted funds decreased by £95,142. Reserves policy The charity's policy is to retain a level of free reserves, which matches the needs of the organisation both at the current time and in the foreseeable future. The reserves required should be sufficient to meet committed grant expenditure and the running costs for a period equivalent to six months annual expenditure. The charity has developed a plan to establish and maintain this agreed level of free reserves. The charity will continue to monitor compliance with this policy on a regular basis and the Committee will review the appropriateness of the policy annually. FUTURE PLANS We have an aim to double our audienc¢ figures annually over the next 5 years. Future planning is hampered by the fact that the organisation works on an annual funding basis, it would benefit greatly froin a longer-term funding agreement from core funders. With the recruitment of a new, dynamic team it is intended to raise the festival to a whole new level, with innovative and exciting initiatives including an international competition. Over the coming 4 years we plan to continue to build audiences for all our activity, in particular we will focus on audience building for the new Belfast Stories site. We continue to seek and apply for new funding revenues. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Belfast Film Festival Limited ort of the Trustees for the Year Ended 31 March 2023 STRUCTURE, GOVERNANCE AND MANAGEMENT Organisational structure LIST OF BOARD MEMBERS Marie- Therèse McGivern (Co-chair) Marie-Therèse recently served as Principal and Chief Executive of Belfast Metropolitan College. Prior to that, she was Director of Development at Belfast City Council where she was responsible for economic development, arts, tourism, events and community services. She is Chair of Maritime Belfast and also Chair for the Employability and Skills Advisory Board for the £IOb Belfast Region City Deal. She is a Non-Executive Director of the Strategic Investment Board for Northern Ireland. Lisa Barros D'sa (Co-chair) Film director, writer and producer. studied English at University of Oxford. MA in Screenwriting from London University of the Arts. Born in Belfast, she is best known for co-directing and producing tlie 2019 feature film Ordinary Love. co-directed the films Good Vibrations and Cherrybomb with husband Glenn Leyburn- Based on these three 'strikingly different, feature films, the Irish Times described Barros D'sa and Leyburn as "the most important contemporary filmmakers working from Northern Ireland" Dr Louise O'meara (Vice-chair) Programme Director, Clinton Leadership inst. QUB Leadership development expert with 30 years of experience, including the design and delivery of pioneering learning interventions in Ireland, Europe and internationally. Has been a Programme Director at the William J Cliiiton Leadership Institute at Queens University Belfast for the past 5 years. Regional Director of the Interaction Institute for Social Change for 16 Years sp¢¢ialising in Leadership and Collaboration, a specialist developing higli-impact leaders and working on traiisforming organisations. Doctorate Social Sciences, University College Cork. Dr. Laurence McKeown (Treasurer) Author, playwright, screen writer 2001 present- Writer of the Les Blair directed feature film H3 about the 1981 hunger strike which premiered in 2001, co-written with long-time collaborator Brian Campbell (d.2005)' The pair wrote two plays together, The Laughter of Our Children (2001), and A Cold Hous¢ (2003)- first solo play, The Official Version, (2006). Two Roads West with Kabosh Tlieatre company, a site-specific play set in a Belfast black cab, where the audience enters the cab with the two actors. Performed Belfast and Derry. Writer of the Green and Blue premiered as part of the Belfast Intcrnational Festival (2016). Produced by Kabosh, Gr¢en and Blue dramatises th¢ realities faced by, and unlikely relationship between, a Garda officer and an RUC officer. Publications Nor Meekly Serve My Time.. The H-Block Struggle 1976-1981 (1994, co-written with Brian CaiTJpbell and Felim O'Hagan}; Out Of Time: Irish Republican Prisoners, Long Kesh, 1972-2000 (2001). Threads (2019). Time Shadows A Prison Memoir (2021); Founding member of Belfast Film Festival. Mark Cousins Northern Irish director and writer based in Edinburgh; he is a prolific documentarian, best known for his 15-hour 2011 documentary The Story of Film: An Odyssey; interviewed many famous filmmakers and actors including Jane Russell, David Lynch, Martin Scorsese and Roman Polanski in the TV series Scen¢ by Scene- presented the BBC cult film series Movicdrome from June 1997 to July 2000. H¢ introduced 66 films for the show; has made over 50 documentaries; was director of Edinburgh Film Festival; Cousins joined the jury of the BFI London Film Festival 2021. Co-Artistic Director of 'Cinema China,, 'The Ballerina Ballroom Cinema of Dreams, and 'A Pilgrimage, with Tilda Swinton; with Antonia Bird, Robert Carlyle and Irvine Welsh, Cousins is a director of the production company 4Way Pictures. Between 2001 and 201 I wrote for Prospect; now writes for Sight & Sound and Filmkrant.
Belfast Film Festival Limited ort of the Trustees for the Year Ended 31 March 2023 STRUCTURE, GOVERNANCE AND MANAGEMENT Nisha Tandon Nisha is a soclal entreprenuer, founder & director of ArtsEkta- one of the few organisations on the island of Ireland promoting etlinic arts, culture and heritage. She founded ArtsEkta in 2006 after pinpointing a gap for quality ethnic arts engagement in the sector. Studied and obtained a degree from the National School of Drama in New Delhi. Former member of the execiitive board of the Arts Council of Northern Ireland. Member of the Intercultural Arts Steering Group which oversees the implementation of the Intercultural Arts Strategy developed by ACNI. Member of Belfast City Council's Festival Forum strategy sub group. NI representative for Voluntary Arts BAME Advisory UK Panel. Former trustee of Cahoots Nl Theatre Company. Community Arts Forum. European Mela Network. MeiT)ber of UTV'S Regional Advisory Board. Founding member of 'Stronger Together,, a collaboration of organisations in the field of racial equality, supporting an integrated community development approach to tackling racisin, and proinoting good relations. Kevin Jackson Film and TV producer with over 30 years, experience of broadcast television and feature film production- l O years, experience of theatre production, including writing and directing. involved in various capacities in over 80 titles for the BBC. Head of Production for 'BALLYKISSANGEL', 'FALLING FOR A DANCER,, 'AMONGST WOMEN OCCUPATION,. Has worked with Ronan Bennett, Danny Boyle, Alan Clarke, Simon Cellan Jones, Michael Winterbottom, Oliver Hirschbiegel, Ronan Beiinett, Jiinmy McGovern, Guy Hibbert, Pete Bowker. Retired from BBC (2010), he worked with Fox on "Sons of Anarchy Season 3 in Nl. produced the multi award winning feature film 'BEHOLD THE LAMB, (2011). produced THE TRUTH COMMISSIONER (2015). Associate Producer THE DEVIL'S DOORWAY" (2016); Executive Producer ZOO" (2017). Producer of multi award wiiining TV Film UPS & DOWNS" (2019). Executive Producer THE LAST RIFLEMAN (2022). Has previously served as Chair and remaiiis a Board inember of The Belfast Film Festival. Lucy Baxter Lecturer, Ceiitre for Documentary Research, QUB 18 years, experience in TV, film and digital content; ran a production company in London. producer and director of documentary, drama, independent film and digital content for TV/digital broadcast and theatrical rel¢ase' Research curr¢ntly is across creative enterprise, creative producing in documentary and fiction. Irish cross border co-production and the applications of digital content and XR/ virtual reality film in health and social care, particularly emotional trauma. produced and directed an animated film. Pl on a Future Screens Nl funded VR project as part of her inter disciplinary research project Mental Abuse Matters, which is the subject of her PhD. Mich¢le Devlin (Company Secretary) - Festival Director PROGRAMMING SUB COMMITTEE - Kevin Jackson, Laur¢nc¢ McKcown, Michele Devlin STAFFtNG SUB cOMMIEE - Louise O'M¢ara, Laurence McKeown, Michele Devlin PATRONS Terry George - Film-maker Hotel Rwanda, In The Name of the Father, Some Mother's Son, Reservation Road, The Shor¢ David Holmes - Composer, Producer Good Vibes, I Am Belfast, Oceans I I, Five Minutes of Heaven, Cherrybomb, Ordinary Love William Crawley - Presenter BBCNI Presented also on various documentaries
Belfast Film Festival Limited ort of the Trustees for the Year Ended 31 March 2023 STRUCTURE, GOVERNANCE AND MANAGEMENT Stephen Rca - Actor Multiple titles including V for Vendetta, Michael Collins, The Crying Game. Founding member Field Day Theatre. Wider network LIST OF STAFF MEMBERS Michele Devlin (Director). Mary Lindsay (Marketing Manager). Sara Morrison (Inclusion/Audience Development). Moyra Lock (Finance/Admin (Freelance)). Temp Staff 2022-23 Jessica Kiang (Programmer). Rose Baker (Programmer). Stuart Sloan (Programmer). Roisin Geraghty (Marketplace and Industry Co-ordinator)- Simeon Costello (Box Office Manager). Benen Dillon (Events Manager); James Hall (Programming Assistant). Tresca Mallon (Marketing Assistant)- Richard Davis (Guest Liaison). Mitchell Harper (Guest Coordinator). Lizzie Howard (Box Office Manager). Ain¢ Grogan (Volunteer Coordinator); Dara Mcwade (Box Office Assistant). Risk management The principles of good governance are embedded within all aspects of Belfast Film Festival Limited, operations with management and staff being keenly aware of the Boards responsibility of ensuring that the organisation protects itself from financial exposure and reputational damage, A close working relationship is maintained between the Board and management to ensure that operationally staff are aware of the standards required of them by the Board and the Board are always in a position to provide guidance and support to management in tlie discharge of their duties. Tliis two way relationship is the key feature of Belfast Film Festival Limited governance arrangements and is a key strength in the company. A conscientious approach to ensuring that contractual project requirements are achieved has been maintained at all times both in the accounting period being reported on and since Belfast Film Festival Limited establishment. Very tight financial controls on expenditure and all financial commitments are maintained at all times and project staff have been trained and have become experienced in budgetary controls.In both these areas 1¢ Project delivery and financial controls management all staff have established close working relationships with funding organisations to ¢nsur¢ all fflandatory standards ar¢ consistently a¢hi¢ved. Board representatives also actively engage with funding bodies. The Board, management and staff are fully aware that the nature of th¢ work in which B¢lfast Filin Festival Limited is involved can bring with it a high level of scrutiny to ensur¢ that all activities are fully compliant with funding requirements and, therefore, beyond reproach. The Board of Belfast Filin Festival Limited is, thereforc, greatly reassured of the company's compliance with the highest of standards of governance on th¢ basis that all monitoring and evaluation of project delivery dcmonstrates achi¢vcm¢nt of all funders objectives and that funders, audits and vouching of financial expenditur¢ and the independent examiners report confirin compliance with both probity and regularity in the use of monies received. STATEMENT OF TRUSTEES, RESPONSIBILITIES Th¢ trustees (who are also the directors of Belfast Film Festival Limited for th¢ purposes of Coinpany law) are responsible for preparing the Report of the Trustces and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland"
Belfast Film Festival Limited ort of the Trustees for the Year Ended 31 March 2023 STATEMENT OF TRUSTEES, RESPONSIBILITIES - continued Company law requires the trustees to prepare financial statements for each financial year which 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 company for that period. In preparing those financial statements, the trustees are required to select suitable accounting policies and then apply them consistently. observe the methods and principles in the Charity SORP; make judgements and estimates that are reasonable and prudent. prepare the fiiiancial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to 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 hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. This report has beeii prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to sinall companies. Approved by order of the board of trustees on 7 August 2023 and signed on its behalf by: Michele Devlin - Secretary io
Inde endent Examiner's Re Belfast Film Festival Limited I report on the accounts of the company for the year ended 31 March 2023, which are set out on pages thirteen to twenty nine. ort to the Trustees of Respective responsibilities of charity trustees and examiner As the charity's trustees (and also the directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006. Having satisfied Inyself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to.. exainine the accounts under Section 65 of tlie Charities Act follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ireland under Section 65(9)(b) of the Charities Act state whether particular matters have come to my attention. Basis of the independent examiner's report I have examined your charity accounts as required under Section 65 of the Charities Act and my examination was carried out in accordance with the general Directions given by the Charity Coinmission for Northern Ireland under Section 65(9)(b) of the Charities Act. The examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also included consideration of any unusual items or disclosures in the accounts, and seeking Cxplanations from you as charity trustees concerning any such matters. My role is to state whether any material matters have come to my attention giving me cause to believe.. That accounting records were not kept in accordance with Section 386 of the Companies Act 2006 That the accounts do not accord with those accounting records That the accounts do not comply with the accounting requirements of Section 396 of the Companies Act 2006 and with the methods and principles of the 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 That there is further information needed for a proper understanding of the accounts to be reached. Independent examiner's statement Since your charity's gross income exc¢eded £250,000 your examiner must be a member of a listed body. I can confirin that I am qualified to undertake the examination because l am a tnember of the Institute of Chartered Accountants in Ireland which is one of the listed bodies. I have completed my examination and have no concerns in r¢sp¢ct of the matters (l ) to (4) listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention. Mr Bil Lynn Drake & Co Ltd Chartered Accountants 1st Floor 34 B-D Main Street Moira Co. Annagh
Inde endent Examiner's Re Belfast Film Festival Limited BT67 OLE ort to the Trustees of 7 August 2023 12
Belfast Film Festival Limited Statement of Financial Activities Incor oratin an Income and Ex for the Year Ended 31 March 2023 enditure Account 31.3.23 Total funds 31.3.22 Total funds Unrestricted Restricted fund funds Notes INCOME AND ENDOWMENTS FROM Charitable activities Grants Receivable 2,000 370,247 372,247 317,048 Other trading activities 83,702 14,280 97,982 114,611 Tot21 85,702 384,527 470,229 431,659 EXPENDITURE ON Charitable 2¢tivities Direct Expenses Governance 24,644 475,002 4,667 499,646 4,667 374,716 3,887 Total 24,644 479,669 504,313 378,603 NET INCOMEI(EXPENDITURE) Other recognised gains/(losses) Gains on revaluation of fixed assets 61,058 (95,142) (34,084) 53,056 2,018 2,018 4,188 Net movement in funds 63,076 (95,142) (32,066) 57,244 RECONCILIATION OF FUNDS Total funds brought forward 174,692 176,148 350,840 293,596 TOTAL FUNDS CARRIED FORWARD 237,768 81,006 318,774 350,840 The notes form part of th¢s¢ financial statements 13
Belfast Film Festival Limited Statement of Financial Position 31 March 2023 31.3.23 31.3.22 Notes FIXED ASSETS Tangible assets Investments 88,931 131,521 7,185 129,503 10 220,452 136,688 CURRENT ASSETS Debtors Cash at bank 20,000 82,403 64,063 170,436 102,403 234,499 CREDITORS Amounts falling due within one year 12 (4,081) (20,347) NET CURRENT ASSETS 98,322 214,152 TOTAL ASSETS LESS CURRENT LIABILITIES 318,774 350,840 NET ASSETS 318,774 350,840 FUNDS Unrestricted funds Restricted funds 14 237,768 81,006 174,692 176,148 TOTAL FUNDS 318,774 350,840 The cliaritable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023. The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006. Th¢ trustees acknowledge their responsibilities for (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and (b) preparing financial stateinents which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of th¢ Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. The notes form part of thcsc financial statements 14 continued...
Belfast Film Festival Limited Statement of Financial Position - continued 31 March 2023 These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial stateinents were approved by the Board of Trustees and authorised for issue on 7 August 2023 and were signed on its behalf by.. Laurence McKeown - Trustee Louise O'Meara- Trustee The notes form part of thes¢ financial statements 15
Belfast Film Festival Limited Notes to the Financial Statements for the Year Ended 31 March 2023 ACCOUINTING POLICIES Basis of preparing the financial statements (a) General information and basis of preparation Belfast Film Festival ts constituted as a company limited by guarantee incorporated in Northern Ireland (N1032251). In the event of the charity being would up, the Ilability in respect of the guarantee is limited to £1 per member of the charity. The charity constitutes a public benefit entity as defined by FRS 102. 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 (FRS 102), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act (Northern Ireland) 2013, the Companies Act 2006 and UK Generally Accepted Practic¢ as it applies from l January 2015. The financial statements are prepared on a going concerii basis under the l)istorical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional curr¢n¢y of the Charity.. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otlierwise stated. (b) Funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the trustees for pai'ticular purposes. The aim and use of each designated fund is set out in the notes to the financial stateinents. Restrict¢d funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. (c) Income recognition All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity is legally entitled to the incomc after any performance conditions have been met, the amount can be measured reliably and it is probable that tlie income will be received. 16 continued...
Belfast Film Festival Limited Notes to the Financial Statements - eontinued for the Year Ended 31 March 2023 ACCOUNTING POLICIES- Continued Basis of preparing the financial statements For donations to be recognised the charity will have b¢¢n notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.Voluntary income is received by way of grants, donations and gifts and is included in full in the Statement of Financial Activities (SOFA) when receivable. Income received from collections is recognised when received. Donated facilities and donated professional services are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably and the Charity has control over the item. Fair value is determined on the basis of the value of the gift to the charity. For example the amount the charity would be willing to pay in the open market for sucli facilities and services. A correspoiiding amount is recognised in expenditure. No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102). Further detail is given in the Trustees, Annual Report. For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. At this point income is recognised. On occasion legacies will be notified to the charity however it is not possible to measure the amount expected to be distributed. On these occasions, the legacy is treated as a contingent asset and disclosed. Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income is received in ¢xcliange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred. The charity receives government grants which are detailed within the notes to th¢se financial statemeiits. Incom¢ from government and other grants are recognised at fair value when the charity has entitleinent after any perforinance conditions have been tnet, it is probable that the income will be received and the amount can be ineasured reliably. If entitlement is not met then these amounts are deferred. (D) Expenditiure recognition All expendTture is accounted for on an accruals basis, inclusive of VAT which cannot be recovered and has been classified under headings that aggregat¢ all costs related to th¢ category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised und¢r the following headings- Costs of raising funds includes the costs associated with attracting voluntary incomes; Expenditure on charitable activitics includes those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can b¢ allocated directly to such activities and those costs of an indirect nature necessary to support them. and Other expenditure represents those items not falling into the catcgories above. Iirecoverable VAT is charged as an expense against the activity for which expenditure arose. 17 continued.
Belfast Film Festival Limited Notes to the Financial Statements - continued for the Year Ended 31 March 2023 ACCOUNTING POLICIES - continued Basis of preparing the financial statements Grants payabl¢ to third parties are within the charitable objectives. Where unconditional grants are offered, this is accrued as sooii as the recipient is notified of the grant, as this gives rise to a reasonable expectation that the recipient will receive the grants. Where grants are conditional relating to performance then the grant is only accrued when any unfulfilled conditioiis are outside of the control of the charity. (e) Support costs allocation Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, administrative payroll costs. They are incurred directly in support of expenditure on the objects of th¢ charity and include project management carried out at Headquarters. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources. Premises overheads have been allocated on an insert detail basis and other overheads have been allocated on a basis Consistent with the use of resources. Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseininating inforination in support of the charitable activities. (D Tangible fixed assets Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows: Improveillent to Property Fixtures & Fittings 25 % Straight Line 250/0 Straight Line (g) Financial Instruments A financial ass¢t or a financial liability is recognised only when the charity becomes a party to the contractual provision of the instrument. Basic financial instruments are initially recognised at the amounts receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or relived and not discounted. Debt instruments arc subsequently measured at amortised cost. Where investments in shares arc publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with Changes in fair value recognised in income and expenditure. All other such investments arc subsequently measur¢d at cost less impairment. 18 continucd...
Belfast Film Festival Limited Notes to the Financial Statements- continued for the Year Ended 31 March 2023 ACCOUNTING POLICIES- continued Basis of preparing the financial statements Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designed hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. if there is objective evidence of impairment an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain is recognised. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other fii)ancial assets are either assessed individually or grouped on the basis of similar credit risk cliaracteristics. Any reversals of impairinent are recognised immediately, to the extent tliat the reversal does not result in a carrying ainount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. (h) Impairment Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount. an impairment loss is recognised in profit or loss unless the asset is carri¢d at a revalued amount where the impairment loss is a revaluation decrease. (i) Provisions Provisions are recognised when the charity has an obligation at the balance she¢t date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated. (i) Leases Assets acquired under finance leases are capitalised and depreciated over the shorter of the lease term and the expected useful life of th¢ asset. Minimuin lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future finance charges, are included in creditors. Rentals payable and receivable under operating leases are charged to the SOFA on a straight line basis over the period of the lease. (k) Tax 19 continued..
Belfast Film Festival Limited Notes to the Financial Statements - continued for the Year Ended 31 March 2023 ACCOUNTING POLICIES- CODtinued Basis of preparing the financial statements No provision is required for taxation as the company is defined as a charity for taxation purposes. The charity is a registered charity and so such is entitled to certain tax exemptions on income and profits froin investments and surpluses on any trading activities carried on in furtherance of the charity's primary objectives, if these profits and surpluses are applied solely for charitable purposes. (l) Going concern The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered tlie level of funds held and the expected level of income and expenditure for 12 inonths from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern. (m) Judgements estimates The following judgements including those involving estimates that have been made in the process of applying the above accounting policies that have had the most significant effect on the amounts recognised in the financial statements and that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year: (i) depreciation method and asset useful lives The estimates and assumptions are reviewed on an ongoing basis considering the current and future market conditions. Taxation The coinpany is a registered charity and so such is entitled to certain tax exemptions on income and profits from investments and surpluses on any trading activities carried on in furtherance of the charity's priinary objectives, if these profits and surpluses are applied solely for charitable purposes. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. Pension costs and other post-retirement benefits The charitable company operates a defined contribution pension schcmc. Contributions payable to the charitable company's pension scheme are Charged to the Statemeiit of Financial Activities in the period to which they relate 20 continued...
Belfast Film Festival Limited Notes to the Financial Statements - continued for the Year Ended 31 March 2023 OTHER TRADING ACTIVITIES 31.3.23 31.3.22 Sundry Income Sponsorship and Adverts Box Office Specific Event Sponsorship The British Coiincil Department for Communities Covid Grant HMRC- CJRS 5,498 45,980 36,504 1,910 37,200 31,377 6,500 i 0,000 10,000 27,624 97,982 114,611 INCOME FROM CHARITABLE ACTIVITIES 31.3.23 31.3.22 Activity Grants Receivable Grants 372,247 317,048 Grants received, included in the above, are as follows: 31.3.23 31.3.22 Nl Screen - Annual Funding Belfast City Council - Annual Funding Tourism Nl Film Hub Nl (QUB) BFI Filin Hub Midlands NI Screen - Docs Festival NI Screen - Other Northern Ireland Screen - Capital Arts & Business Northern Ir¢land Department for Communities - Renewal Projects Arts Council Northern Ireland - Capital Belfast City Council - Special Funding Nl Screen - Capital Costs Screen Ireland SMEC Group Film Feels Curious Summer Cinema 80,000 90,800 18,000 59,200 10,000 61,890 26,568 6,500 750 80,000 49,827 14,800 50,360 25,340 3,250 4,000 5,602 1,255 78,500 4,114 2,000 1,500 15.039 372.247 317,048 21 ontinued...
Belfast Film Festival Limited Notes to the Financial Statements - continued ror the Year Ended 31 March 2023 CHARITABLE ACTIVITIES COSTS Support costs (see note 5) Direct Costs Totals Direct Expenses Governance 476,685 22,961 4,667 499,646 4,667 476,685 27,628 504,313 SUPPORT COSTS Governance costs Management Totals Direct Expenses Governance 22,961 22,961 4,667 4,667 22,961 4,667 27,628 NET INCOME/(EXPENDITURE) Net incomel(expenditure) is stated after charging/(crediting): 31.3.23 31.3.22 Independent Examination Fee Accountancy Fee Depreciation owned assets 1,240 2,512 14,918 1,240 2,010 4,850 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022. Trustees, expenses There were no trustees, expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022. 22 continued...
Belfast Film Festival Limited Notes to the Finaneial Statements - continued for the Year Ended 31 Mareh 2023 STAFF COSTS 31.3.23 31.3.22 Wages and salaries Social security Costs Other pension costs 98,032 5,297 3,283 116,902 7,556 3,766 106,612 128,224 The average monthly number of employees during the year was as follows.. 31.3.23 31.3.22 Management & Administration No employees received emoluments in excess of £60,000. TANGIBLE FIXED ASSETS Improvements Computers to aiid property Equipment Totals COST At l April 2022 Additions 121,659 144,185 96,664 265,844 96,664 At 31 March 2023 121,659 240,849 362,508 DEPRECIATION At l April 2022 Charg¢ for year 121,659 137,000 14,918 258,659 14,918 At 31 March 2023 121,659 151,918 273,577 NET BOOK VALUE At 31 March 2023 88,931 88,931 At 31 March 2022 7,185 7,185 23 continued...
Belfast Film Festival Limited Notes to the Financial Statements- continued for the Year Ended 31 March 2023 10. FIXED ASSET INVESTMENTS Listed investments MARKET VALUE At l April 2022 Revaluations 129,503 2,018 At 31 March 2023 131,521 NET BOOK VALUE At 31 March 2023 131,521 At 31 March 2022 129,503 There were no investment assets outside the UK. Cost or valuation at 31 March 2023 is represented by: Listed investments Valuatioii in 2020 Valuatioii in 2021 Valuatioii in 2022 Valiiation in 2023 59,771 5,544 64,188 2,018 131,521 The investinents were valued by CRN Financial Group, l Forestgrove Business Park, Newtownbreda Road, Belfast, BT8 6AW on 31 March 2023. 11. DEBTORS: AMOUNTS FALLING DUE WITHIIY ONE YEAR 31.3.23 31.3.22 Nl Screen - Annual Funding Nl Screen Docs Festival Laura McKeown Prepayments 20,000 20,000 6,735 1,004 36,324 20,000 64,063 24 continued...
Belfast Film Festival Limited Notes to the Finaneial Statements - continued for the Year Ended 31 March 2023 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.23 31.3.22 Social security and other taxe5 Other creditors Accruals and deferred income 13,693 476 3,605 6,654 4,081 20.347 13. ANALYSIS OF NET ASSETS BETWEEN FUNDS 31.3.23 Total funds 31.3.22 Total funds Unrestricted Restricted fund funds Fixed assets Investments Current assets Current liabilities 88,931 88,931 131,521 102,403 (4,081) 7,185 129,503 234,499 (20,347) 131,521 107,038 (791) (4,635) (3,290) 237,768 81,006 3 l8,774 350,840 14. MOVEMENT IN FUNDS Net movement in funds At 3113123 At 114122 Unrestricted funds General fund 174,692 63,076 237,768 Restricted funds Capital Grant Reserve NI Screen - Annual Funding Nl Screen - Capital Costs Belfast City Council - Annual Funding Nl Screen - Docs Festival Arts Council Northern Ireland - Capital DFC Renewal Programme 1,255 55,610 81,605 30,778 286 6,564 50 (137) (55,610) (6,812) (30,778) (286) (1,469) (50) 74,793 5,095 176,148 (95,142) 81,006 TOTAL FUNDS 350,840 (32,066) 318,774 25 continued...
Belfast Film Festival Limited Notes to the Financial Statements - continued for the Year Ended 31 March 2023 14. MOVEMENT IN FUNDS - CODtinued Net movement in funds, included in the above are as follows.. Incoming resources Resources expended Gains and Movement losses iii funds Unrestricted funds General fund 85,702 (24,644) 2,018 63,076 Restricted funds Capital Grant Reserve NI Screen - Annual Funding NI Screen Capital Costs Belfast City Council - Annual Funding Tourism Nl Film Hub Nl (QUB) BFI Film Hub Midlands NI Screen - Docs Festival Nl Screen - Other Arts & Business Northern Ireland Arts Council Northern Ireland Capital DFC Renewal Programme Screeii Ireland British Council Partnership Programme Film Feels Curious Suminer Cinema (137) (135,610) (13,312) (121,578) (18,000) (59,200) ( i 0,000) (62,176) (26,568) (750) (1,469) (50) (4,280) ( i 0,000) (1,500) (15,039) (137) (55,610) (6,812) (30,778) 80,000 6,500 90,800 18,000 59,200 i 0,000 61,890 26,568 750 (286) (1,469) (50) 4,280 i 0,000 1,500 15,039 384,527 (479,669) (95,142) TOTAL FUNDS 470,229 (504.313) 2,018 (32,066) 26 continued..
Belfast Film Festival Limited Notes to the Financial Statemenls - continued for the Year Ended 31 March 2023 14. MOVEMENT IN FUNDS - continued Comparatives for movement in funds Net movement in funds At 3113122 At 114121 Unrestricted funds General fund 188,015 (13,323) 174,692 Restricted funds Capital Grant Reserve Nl Screen - Annual Funding Nl Screen Capital Costs Belfast City Council - Annual Funding Nl Screen - Docs Festival Nl Screen - Other Arts Council Northern Ireland - Capital Department for Communities - Renewal Projects 1,255 (3,557) 75,119 778 286 (7,300) 3,936 1,255 55,610 81,605 30,778 286 59,167 6,486 30,000 7,300 2,628 6,564 50 50 105,581 70,567 176,148 TOTAL FUNDS 293,596 57,244 350,840 27 continued...
Belfast Film Festival Limited Notes to the Financial Statements - continued for the Year Ended 31 March 2023 14. MOVEMENT IN FUNDS- continued Comparative net movement in funds, included in the above are as follows: Incoming resources Resources expended Gains and Movement losses in funds Unrestricted funds General fund 114,611 (132,122) 4,188 (13,323) Restricted funds Capital Grant Reserve Nl Screen - Annual Funding NI Screeii - Capital Costs Belfast City Council - Annual Funding Film Hub NI (QUB) BFI Nl Screen - Docs Festival Nl Screen - Other Arts & Business Northern Ireland Arts Council Northern Ireland - Capital Department for Communities - Renewal Projects Screen Ireland 1,255 80,000 78,500 49,827 14,800 50,360 25,340 3,250 5,602 1,255 (3,557) 75,119 778 (83,557) (3,381) (49,049) (14,800) (50,074) (32,640) (3,250) (1,666) 286 (7,300) 3,936 4,000 4,114 (3,950) (4,114) 50 317,048 (246,481) 70,567 TOTAL FUNDS 431,659 (378,603) 4,188 57,244 IS. CONTINGEIYT LIABILITIES A contingent liability exists in that the organisation must spend all grants received from funders in accordanc¢ with the terms and conditions of the letters of offer. 16. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 March 2023 28 continued...
Belfast Film Festival Limited Notes to the Finanei21 Statements - continued for the Year Ended 31 Mareh 2023 17. WINDING UP Every member of the Company undertakes to contribute to the assets of the Company, in the event of the same being wound up while it is a member, or within one year after it ceases to be a member, for payment of the debts and liabilities of the Company contracted before it ceases to be a member, and of the costs, charges and expenses of winding up, and for the adjustment of the rights of tlie contributor's among themselves, such amount as may be required not exceeding one pound. 18. SHARE CAPITAL The Company is limited by guarantee and has no Share Capital 19. COVID-19 The trustees continue to monitor the impact of Covid 19. The trustees believe there is no adjusting events to report after the reporting date. The trustees will continue to monitor the situation closely to secure the viability of the organisation. 29
Belfast Film Festival Limited Detailed Statement of Financial Aetivities for the Year Ended 31 March 2023 31.3.23 31.3.22 INCOME AND ENDOWMENTS Other trading activities Sundry Income Sponsorship and Advcrts Box Office Specific Event Sponsorship The British Council Department for Communities Covid Grant HMRC- CJRS 5,498 45,980 36,504 1,910 37,200 31,377 6,500 10,000 10,000 27,624 97,982 114,611 Charitable activities Grants 372,247 317,048 Total incoming resources 470,229 431,659 EXPENDITURE Charitable activities Salaries & NIC Social security Pensions Telephone & Internet Marketing & Publicity Sundries Festival Hospitality, Expenses & Artist Fees Training Freelance Staff Film Exliibition & Screening Fees Staff Travel & Subsistence Box Office Other Projects Year Round Programmes Depreciation of tangible fixed assets 98,032 5,297 3,283 2,642 68,248 1,215 55,108 9,197 103.211 68,150 116,902 7,556 3,766 2,533 50,258 1,904 55,236 10,295 49,259 35,218 1,596 6,320 8,709 2,527 27,628 17,229 14,918 4,850 476,685 354,402 Support costs Management Relit Carried forward 2,291 2,291 4,880 4,880 This page does not form part of the statutory financial statements 30
Belfast Film Festival Limited Detailed Statement of Financial Activities for the Year Ended 31 March 2023 31.3.23 31.3.22 Management Brought forward Insurance Light and heat Postage and stationery Affiliation Fees Meetings Maintenance & Repairs Photocopier Professional fees 2,291 5,811 1,407 29 1,631 7,588 2,800 1,190 214 4,880 2,880 1,162 266 1,320 5,934 1,031 2,841 22,961 20,314 Governance costs Independent Examination Fee Accountancy Fee Bank Charges 1,240 2,512 915 1,240 2,010 637 4,667 3,887 Total resources expended 504,313 378,603 Net (expenditure)lincome (34,084) 53,056 This page does not form part of the statutory financial statements 31