REGISTERED COMPANY NUMBER: NI032251 (Northern Ireland) REGISTERED CHARITY NUMBER: NIC 102004
## **Unaudited Financial Statements for the Year Ended 31 March 2025**
## **for**
**Belfast Film Festival Limited** _**(A**_ **Company Limited by Guarantee)**
Lynn Drake & Co Ltd Chartered Accountants
1st 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 2025
||Page|
|---|---|
|Statement of Financial Activities|14|
|Statement of Financial Position|15 to 16|
|Notes to the Financial Statements|17 to 29|
|Detailed Statement of Financial Activities|30 to 31|
**Belfast Film Festival Limited**
## **Statement of Financial Activities**
## **{Incor(!oratin2 an Income and Ex(!enditure Account)**
## **for the Year Ended 31 March 2025**
|Notes
**INCOME AND ENDOWMENTS FROM**
**Charitable activities**
Grants Receivable
3
Other trading activities
2
**Total**
**EXPENDITURE ON**
**Charitable activities**
4
Direct Expenses
Governance
**Total**
**NET INCOME/(EXPENDITURE)**
**Other recognised gains/(losses)**
Gains on revaluation of fixed assets
**Net movement in funds**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|31.3.25
31.3.24
Unrestricted
Restricted
Total
Total
fund
funds
funds
funds
£
£
£
£
-
293,955
293,955
271,646
186,083
186,083
133,510
186,083
293,955
480,038
405,156
--
203,313
277,305
480,618
497,328
4,980
-
4,980
4,339|
|---|---|
||208,293
277,305
485,598
501,667|
||(22,210)
16,650
(5,560)
(96,511)
5,391
5,391
770|
||(16,819)
16,650
(169)
(95,741)
167,799
55,234
223,033
318,774|
||150,980
71,884
222,864
223,033|
The notes form part of these financial statements
14
**Belfast Film Festival Limited**
## **Statement of Financial Position**
## **31 March 2025**
|**FIXED ASSETS**
Notes
Tangible assets
9
Investments
10
**CURRENT ASSETS**
Debtors
11
Cash at bank
**CREDITORS**
Amounts falling due within one year
12
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
14
Unrestricted funds
Restricted funds
**TOTAL FUNDS**||31.3.25
£
64,211
137,682
--
201,893
60,301
2,843
--
63,144
(42,173)|-
31.3.24
£
63,159
132,291
195,450
20,000
14,342
34,342
(6,759)|
|---|---|---|---|
|||20,971|27,583|
|||222,864|223,033|
|||222,864|223,033
167,799
55,234
223,033|
|||150,980
71,884||
|||222,864||
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.
The 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 statements 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 the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
15
continued...
**Belfast Film Festival Limited**
## **Statement of Financial Position - continued**
## **31 March 2025**
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 8 September 2025 and were signed on its behalf by:
_µ,.
Laurence McKeown - Trustee
-
> Marie-Therese McG\vern - Trustee I \
The notes form part of these financial statements
16
**Belfast Film Festival Limited**
**Notes to the Financial Statements**
## **for the Year Ended 31 March 2025**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
## **(a) General information and basis of preparation**
Belfast Film Festival is constituted as a company limited by guarantee incorporated in Northern Ireland (NI032251). In the event of the charity being would up, the liability 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 oflreland (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 Practice as it applies from 1 January 2015.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency 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 otherwise 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 particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted 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 income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.
continued...
17
**Belfast Film Festival Limited**
**Notes to the Financial Statements** - **continued for the Year Ended 31 March 2025**
## **1. ACCOUNTING POLICIES** - **continued**
## **Basis of preparing the financial statements**
For donations to be recognised the charity will have been 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 such facilities and services. A corresponding 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 exchange 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 these financial statements. Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred.
## **(D) Expenditiure recognition**
All expenditure is accounted for on an accruals basis, inclusive of VAT which cannot be recovered and has been classified under headings that aggregate all costs related to the 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 under the following headings:
Costs of raising funds includes the costs associated with attracting voluntary incomes; Expenditure on charitable activities includes those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be 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 categories above.
Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.
continued...
18
**Belfast Film Festival Limited**
**Notes to the Financial Statements** - **continued**
**for the Year Ended 31 March 2025**
## **1. ACCOUNTING POLICIES** - **continued**
## **Basis of preparing the financial statements**
Grants payable to third parties are within the charitable objectives. Where unconditional grants are offered, this is accrued as soon 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 conditions 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 the 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 disseminating information in support of the charitable activities.
## **(f) 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:
- Improvement to Property 25% Straight Line - Fixtures & Fittings 25% Straight Line
## **(g) Financial Instruments**
A financial asset 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 are subsequently measured at amortised cost.
Where investments in shares are 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 are subsequently measured at cost less impairment.
continued...
19
**Belfast Film Festival Limited**
**Notes to the Financial Statements** - **continued**
**for the Year Ended 31 March 2025**
## **1. 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 financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount 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 canying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried 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 sheet 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.
## (j) **Leases**
Assets acquired under finance leases are capitalised and depreciated over the shorter of the lease term and the expected useful life of the asset. Minimum 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.
continued...
20
**Belfast Film Festival Limited**
**Notes to the Financial Statements** - **continued**
**for the Year Ended 31 March 2025**
## **1. ACCOUNTING POLICIES** - **continued**
## **Basis of preparing the financial statements**
## **(k) Tax**
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 from 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.
## (I) **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 the level of funds held and the expected level of income and expenditure for 12 months 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 company 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 primary 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 scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate .
continued...
21
**Belfast Film Festival Limited**
|**Notes to the Financial Statements**- **continued**
**for the Year Ended 31 March 2025**
**2.**
**OTHER TRADING ACTIVITIES**
Fundraising and Donations
Sponsorship and Adverts
Box Office
Specific Event Sponsorship
The British Council
`3.`
**INCOME FROM CHARITABLE ACTMTIES**
Activity
Grants
Grants Receivable
Grants received, included in the above, are as follows:
NI Screen - Annual Funding
Belfast City Council - Annual Funding
Film Hub NI (QUB) BFI
NI Screen - Docs Festival
NI Screen - Other
Arts & Business Northern Ireland
Belfast City Council - Special Funding
NI Screen - Capital Costs
Screen Ireland
Dormant Accounts Fund
The Hearth
NI Screen Archive
Department of Tourism Ireland|31.3.25
£
12,754
50,399
45,709
77,221
--
186,083
31.3.25
£
293,955
31.3.25
£
133,900
60,000
32,500
-
4,130
-
-
26,826
8,241
19,542
-
4,500
4,316
293,955||31.3.24
£
5,453
65,667
54,890
7,500|
|---|---|---|---|
||||133,510|
||||31.3.24
£
271,646
31.3.24
£
80,000
60,000
30,000
50,000
2,000
8,000
2,000
9,771
26,000
3,875|
||||271,646|
continued...
22
**Belfast Film Festival Limited**
## **Notes to the Financial Statements** - **continued**
## **for the Year Ended 31 March 2025**
## `4.` **CHARITABLE ACTIVITIES COSTS**
|**CHARITABLE ACTIVITIES COSTS**||
|---|---|
|Direct Expenses
Direct
Costs
£
449,963
Governance
-
-
449,963
--|Support
costs (see
note 5)
Totals
£
£
30,655
480,618
4,980
4,980|
||35,635
485,598|
|`5.`|**SUPPORT COSTS**||||
|---|---|---|---|---|
||||Governance||
|||Management|costs|Totals|
|||£|£|£|
||DirectExpenses|30,655||30,655|
||Governance|-|4,980|4,980|
||||-|--|
|||30,655|4,980|35,635|
||||-||
`6.` **NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
||31.3.25|31.3.24|
|---|---|---|
||£|£|
|Independent Examination Fee|1,240|1,240|
|Accountancy Fee|2,384|2,252|
|Depreciation-owned assets|24,896|25,772|
## **7. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.
continued...
23
**Belfast Film Festival Limited**
## **Notes to the Financial Statements** - **continued**
|**for the Year Ended 31 March 2025**
**8.**
**STAFF COSTS**
Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Management & Administration
No employees received emolumentsinexcess of £60,000.
`9.`
**TANGIBLE FIXED ASSETS**
Improvements
to
property
£
**COST**
At 1 April 2024
121,659
Additions
At 31 March 2025
121,659
**DEPRECIATION**
At l April 2024
121,659
Charge for year
-
At 31 March 2025
121,659
--
**NET BOOK VALUE**
At 31 March 2025
-
At 31 March 2024
-|**for the Year Ended 31 March 2025**
**8.**
**STAFF COSTS**
Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Management & Administration
No employees received emolumentsinexcess of £60,000.
`9.`
**TANGIBLE FIXED ASSETS**
Improvements
to
property
£
**COST**
At 1 April 2024
121,659
Additions
At 31 March 2025
121,659
**DEPRECIATION**
At l April 2024
121,659
Charge for year
-
At 31 March 2025
121,659
--
**NET BOOK VALUE**
At 31 March 2025
-
At 31 March 2024
-|**for the Year Ended 31 March 2025**
**8.**
**STAFF COSTS**
Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Management & Administration
No employees received emolumentsinexcess of £60,000.
`9.`
**TANGIBLE FIXED ASSETS**
Improvements
to
property
£
**COST**
At 1 April 2024
121,659
Additions
At 31 March 2025
121,659
**DEPRECIATION**
At l April 2024
121,659
Charge for year
-
At 31 March 2025
121,659
--
**NET BOOK VALUE**
At 31 March 2025
-
At 31 March 2024
-|31.3.25
31.3.24
£
£
93,314
87,703
4,536
3,343
4,509
3,614
102,359
94,660
31.3.25
31.3.24
3
3
Computers
and
Equipment
Totals
£
£
240,849
362,508
25,948
25,948
--
266,797
388,456
--
177,690
299,349
24,896
24,896|
|---|---|---|---|
||121,659
-
121,659
--
-
-|||
||||202,586
324,245
64,211
64,211|
||||63,159
63,159|
continued...
24
**Belfast Film Festival Limited**
## **Notes to the Financial Statements** - **continued**
**for the Year Ended 31 March 2025**
## **10. FIXED ASSET INVESTMENTS**
|**MARKET VALUE**
At I April 2024
Revaluations
At 31 March 2025
**NET BOOK VALUE**
At 31 March 2025
At 31 March 2024
There were no investment assets outside the UK.
Cost or valuation at 31 March 2025 is represented by:
Valuation in 2020
Valuation in 2021
Valuation in 2022
Valuation in 2023
Valuation in 2024
Valuation in 2025|Listed
investments
£
132,291
5,391
137,682
--
137,682
132,291
Listed
investments
£
59,771
5,544
64,188
2,018
770
5,391
137,682|
|---|---|
The investments were valued by CRN Financial Group, 1 Forestgrove Business Park, Newtownbreda Road, Belfast, BT8 6AW on 31 March 2025.
|**11.**|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||
|---|---|---|---|
|||31.3.25|31.3.24|
|||£|£|
||NI Screen|60,301|20,000|
continued...
25
**Belfast Film Festival Limited**
## **Notes to the Financial Statements** - **continued**
## **for the Year Ended 31 March 2025**
|**12.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Social security and other taxes
Other creditors
Accruals and deferred income
**13.**
**ANALYSIS OF NET ASSETS BETWEEN FUNDS**
Unrestricted
Restricted
fund
funds
£
£
Fixed assets
-
64,211
Investments
137,682
-
Current assets
16,020
47,124
Current liabilities
(2,722)
(39,451)
--
150,980
71,884|**12.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Social security and other taxes
Other creditors
Accruals and deferred income
**13.**
**ANALYSIS OF NET ASSETS BETWEEN FUNDS**
Unrestricted
Restricted
fund
funds
£
£
Fixed assets
-
64,211
Investments
137,682
-
Current assets
16,020
47,124
Current liabilities
(2,722)
(39,451)
--
150,980
71,884|31.3.25
£
432
2,854
38,887
--
42,173|31.3.24
£
1,643
1,355
3,761|
|---|---|---|---|
||||6,759
-
31.3.24
Total
funds
£
63,159
132,291
34,342
(6,759)
223,033|
|||31.3.25
Total
funds
£
64,211
137,682
63,144
(42,173)||
||71,884|222,864||
## **13. ANALYSIS OF NET ASSETS BETWEEN FUNDS**
**14. MOVEMENT** IN FUNDS
|**Unrestricted funds**
General fund
**Restrictedfunds**
Capital Grant Reserve
NI Screen-Capital Costs
Arts Council Northern Ireland - Capital
Dormant Accounts Fund
**TOTAL FUNDS**|At 1/4/24
£
167,799
981
50,627
3,626
-
-
55,234|Net
movement
At
in funds
31/3/25
£
£
(16,819)
150,980
(138)
843
1,782
52,409
(592)
3,034
15,598
15,598|
|---|---|---|
|||16,650
71,884
--
(169)
222,864|
||223,033||
continued...
26
**Belfast Film Festival Limited**
## **Notes to the Financial Statements** - **continued for the Year Ended 31 March 2025**
## **14. MOVEMENT** IN FUNDS - **continued**
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Capital Grant Reserve
NI Screen - Annual Funding
NI Screen - Capital Costs
Belfast City Council - Annual Funding
Film Hub NI (QUB) BFI
NI Screen - Other
Arts Council Northern Ireland - Capital
Screen Ireland
Dormant Accounts Fund
NI Screen Archive
Department of Tourism Ireland
**TOTAL FUNDS**
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
**Restricted funds**
Capital Grant Reserve
NI Screen - Capital Costs
Arts Council Northern Ireland - Capital
**TOTAL FUNDS**||Incoming
resources
£
Resources
expended
£
186,083
(208,293)
-
(138)
133,900
(133,900)
26,826
(25,044)
60,000
(60,000)
32,500
(32,500)
4,130
(4,130)
-
(592)
8,241
(8,241)
19,542
(3,944)
4,500
(4,500)
4,316
(4,316)|Gains and
losses
£
Movement
in funds
£
5,391
(16,819)
-
(138)
-
1,782
-
(592)
-
15,598|
|---|---|---|---|
|||293,955
(277,305)|-
16,650|
|||480,038
(485,598)
At 1/4/23
£
237,768
1,118
74,793
5,095
81,006
318,774|5,391
(169)
Net
movement
in funds
At
31/3/24
£
£
(69,969)
167,799
(137)
981
(24,166)
50,627
(1,469)
3,626
(25,772)
55,234
(95,741)
223,033|
continued...
27
**Belfast Film Festival Limited**
**Notes to the Financial Statements** - **continued for the Year Ended 31 March 2025**
## **14. MOVEMENT** IN **FUNDS** - **continued**
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Capital Grant Reserve
NI Screen-Annual Funding
NI Screen-Capital Costs
Belfast City Council - Annual Funding
Film Hub NI (QUB)BFI
NI Screen-Docs Festival
NI Screen - Other
Arts & Business Northern Ireland
Arts Council Northern Ireland-Capital
Belfast City Council - Special Funding
British Council Partnership Programme
Dormant Accounts Fund
The Hearth
NI Screen Archive
**TOTAL FUNDS**|Incoming
resources
£
126,010
-
80,000
-
60,000
30,000
50,000
2,000
8,000
2,000
7,500
9,771
26,000
3,875
--
279,146|Resources
Gains and
Movement
expended
losses
in funds
£
£
£
(196,749)
770
(69,969)
(137)
-
(137)
(80,000)
(24,166)
-
(24,166)
(60,000)
(30,000)
(50,000)
(2,000)
(8,000)
(1,469)
-
(1,469)
(2,000)
(7,500)
(9,771)
(26,000)
(3,875)|
|---|---|---|
|||(304,918)
-
(25,772)|
||405,156|(501,667)
770
(95,741)|
## **15. CONTINGENT LIABILITIES**
A contingent liability exists in that the organisation must spend all grants received from funders in accordance 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 2025.
28
continued...
**Belfast Film Festival Limited**
**Notes to the Financial Statements - continued**
## **for the Year Ended 31 March 2025**
## **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 the 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
29
**Belfast Film Festival Limited Detailed Statement of Financial Activities for the Year Ended 31 March 2025**
|31.3.25
£
**INCOME AND ENDOWMENTS**
**Other trading activities**
Fundraising and Donations
12,754
Sponsorship and Adverts
50,399
Box Office
45,709
Specific Event Sponsorship
77,221
The British Council
-
186,083
**Charitable activities**
Grants
293,955
**Total incoming resources**
480,038
**EXPENDITURE**
**Charitable activities**
Salaries & NIC
93,314
Social security
4,536
Pensions
4,509
Telephone & Internet
2,744
Marketing & Publicity
44,263
Sundries
489
SpecialEvents
4,464
Guest ATH Expenses
50,882
Training
-
FreelanceStaff
132,241
Ignite
3,409
Film Exhibition & Screening Fees
21,353
Staff Travel & Subsistence
3,734
Awards
14,615
Artist and Panel Guest Costs
4,269
Venue Hire
24,329
Box Office
921
Other Projects
5,104
Year Round Programmes
9,891
Depreciation of tangible fixed assets
24,896
449,963|31.3.24
£
5,453
65,667
54,890
7,500
-
133,510
271,646
--
405,156
87,703
3,343
3,614
3,215
45,195
4,130
4,030
43,651
3,739
107,545
5,639
42,355
6,584
14,447
5,954
32,995
1,805
7,005
8,167
25,772|
|---|---|
||456,888|
## **Support costs**
This page does not form part of the statutory financial statements
30
**Belfast Film Festival Limited**
|**Belfast Film Festival Limited**||
|---|---|
|**Detailed Statement of Financial Activities**
**for the Year Ended 31 March 2025**
31.3.25
£
**Support costs**
**Management**
Rent
3,544
Insurance
4,096
Light and heat
2,518
Postage and stationery
2,194
Affiliation Fees
1,831
Maintenance & Repairs
3,699
Photocopier
-
Professional fees
12,773
-
30,655
**Governance costs**
Independent Examination Fee
1,240
Accountancy Fee
2,384
Bank Charges
1,356
4,980
Total resources expended
485,598
**Net expenditure**
(5,560)|31.3.24
£
2,500
8,198
2,052
272
1,803
5,786
296
19,533|
||40,440
1,240
2,252
847|
||4,339|
||501,667|
||(96,511)|
This page does not form part of the statutory financial statements
31