COMPANY REGISTRATION NUMBER: N1033497 CHARITY REGISTRATION NUMBER: XR28542 Cinemagic Limited Company Limited by Guarantee Financial Statements 31 March 2023 FEB CHARTERED ACCOUNTANTS Chartered accounlants & statutory alltor Linenhall Exchango 1s1 Floor, 26 Linenhall Street Belfast Northern Ireland BT2 8BG
Cinemagic Limited Company Limited by Guaranteè Financial Statements Year ended 31 March 2023 Page Trustees, annual report (incorporaling the directorfs report) Independent auditorfs report to the members Statement of financial activities (including income and expenditure account) Statement of financial position 10 14 15 Notes to Ihe financial statements 16
Cinemagic Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Dlrectorfs Report) Year ended 31 March 2023 The truslees, who ere also the directors for the purwses of company law. wesenl their report and the liDanclal slatemenls of the charity Ihe year erkded 31 Mirch 2023. Reference and administratlve details Rogb51ered charity name Cinemagic Limiled Charlty r•glstratlon numbèr XR28542 Cornpany registrallon number N1033497 49 8otanlc Avenue Belfast BT2 8BG Prlncipal office Regi51ered office clo FE8 Chartere(l Accounlan Linerthall Exchange 26 Lentroll Streel Belfasl BT2 8BG The Trustees s M Haffiekl Mr A O'Neill Ms K Smith M5 G Mulqueen Mr M Lennox Mr P SrK>dden Audllor FEB Charlered knounlanls Chartered acccAJrilants & statutory aLMJilor Llnenhall Exchange 1st Fknr, 26 Linerthall Slr88t Belfast Northem Ireland BT2 8BG Bank•r$ Bank of Ireland 4-8 High Street Belfast BT12BA
Cinemagic Limited Company Limited by Guaranteè Trustees. Annual Report {Incorporating the Directorfs Report) {coTrtlnu•dJ Year ended 31 March 2023 Structure, governance 4nd management Clnemagic Limited Is con8111uled as a conNKny Ilmlled by warantee is governed by Memorandum and Arllcles of Assoclation. The Board of Trustee5 are responSTble lor the stralegic managernent of the charity. The Board of Trustees and natn8s of princlpal advisers are sel out on page 1. The Board appoirnts all new truslees based on selection criteria. which ensures that collecllvely maintains a broad rangp of relevant skills and gxperieTr¢e. An InCli0n programme is offered to all new Iruslees lo ensure th3t they are briefed on the charitvs objacts, strate9y and activities. The trustees have the overall responsibilliy for the system of inlemal control for the chafity. which includes ensurlng thal there afe reasonable procedures in place lor the prevenllon and detection ol Iraud and oiher irregularilies. However. suth a system provide orly rea80n8ble, but nol absolute. assurance against errors and frwd. Significanl risks are hlghlighted for considerdlron and moniiored by the B0d. These Include: - the risk of cuts in funding beYOr 2022-2023 funding wements: and - the fisk of lailing to build sufficient ¢ash reser+RS: I major risk5 lo whlch Ihe chty is exposed, which have been idenlified by these prwedur85, have bÈ6n reviewed. Systèms havè been implemented to miligale Ihese risks and arè conlinually developed or enhanced. Risk assessmenl is Garried out on an annual basis, FirnCIal systems for setting. controlling and morbitoring budgots have been implemented and are continually rrK)nitor8d.
Cinemagic Limited Company Limlted by Guarantee Trustees. Annual Report Ilncorporating the Directorfs Report) (¢ontlnu9dJ Year ended 31 MarGh 2023 ObJecllve$ and activilies Clnemagic is managed by a Chief Executive who repS to a Board of Dlrectofs and as a charily. Clnerna9ic's fundraising mod61 includes e comb&rli0n ol publlc funding. prfvate sponsorship, and self-generaled income ffom avenl IkÈl s8. Esiablished in Belfast In 1989, durln9 the 'Troubles', Cinemagic's aim was to bring together young Catholic and Proleslant children in a safe environmenl. where they coul4J meel each other, learn about their SpectIve cullures. tradllions and develop new skills and corifidence. Cinemagic believes thai film and lelevision provide more inclusive and accessible ways lo promole learniw, molivat. skHts clevelopment and stimulaling cross-community engagemenl amon9 young people. Discussion arKI Interaction belweèft young people from differonl backgrourtrds encouvdgos and promoles respect facllilates shared eduGalion and learnffig and social inlegralioTr in 3 positive way bélwe8n communitiès, Cinemagic has worked on nurnerous cornmunily filmmaking projecls over Ihe lasl 33 years, wilh hundreds of schools on cross communily peace and recon(iliation projects and Ihè produclion of Nth•rTh Ireland's and Irelarrfs fitsl Christmas foaluré film 'A Chrislmas Stal and in 2017, Cwiemagic's sècond loalufe frn Grace and Golialh. The organisalion is Cren11Y dèvÈloping pl8n8 lo produce ou( 3rd fealuré fllm in 2024 which wlll InvVa tho s8mè rnodel, training young in th8 Fllm industry and provtding 8kills opportunities ar¥J praciicAI exp8fience wrkIng on a film sel. Cinemagic has developed a Wofklwide reputal#)n for eXcelnce ln children'5 programmlng and In creative and InTvatIve approaches to strerbgthening and building skills for the future In creative Industries. It is (xjrrently Ihe largest film evenl for young people in Ireland and the UK, now allracting over 40,000 people annualty. To date Cinemaglc is foGU5ed on the cultural, Social and educational benefits Ihat film can bring to laGkling poverty and social exclusion and has fcru5ed these values on all of115 activilie5. Cinemagic delIvS creativ8 programmes which address social èxdu5ion and a5SOCi8led problams of, bullying. drug5. other addictions, sectarianism - i.e.. hard httting issues that young pe¢Jple are dealing with daily, particularly in areas of social and economic disadvanlage. The organisation works with hundreds of schools and community groups al grass roots level Ihroughotjt Northern Ireland, Ireland, and the USA. Building on this work the oFganisaknon delivers cross comrnunity projects wthich engage with slmllar projects on an htercontinental bas lo bring young Feople from across Ireland, and from various background5 and abilities. tLwJether with international peers to learn and shace ideas. Cinernagl¢ aims to develop the skills capabilities of the next generalion of young people, partlcularly Ihose from disadvanlaged areas and ba&grourKls. by exposkng them lo international expertise to help develop skills tF lulure, Alongsid8 Ihis Ihe organisalitin sèeks lo build powerful Inlèmalional polilical aAd corpDral@ nelworks Ihat can be leveraged lo help to grow the creative Industries locally. nationally, and inlernalionally and 8cale up as outslanding creative and innovative approxhe5 to lackle pcverty and social exclusion. Oui 8thos is underpinned by Ihe belief that expernCIng film and encouraging ftlmrhaking helps young people become critical thinkers, allows IhÈn to examine the world around them and dlscovèr cultures beyond Ihelr own. Clnemagic prjramMe5 are deslgngd to insplre, motivale, and edLKalÈ young ople, ci)rthbutlng to their Gultural, Greative and pef50nal dovelopment, Cln8rnagic hos15 annual fllm festivals and programme5 in BelfasL tblIn, LorKlon, Bost(. and Lcvs Angeles. Over Ihe last number ol years Cinemagic has Len proud to welcome guesls such as Brian Cox. Danny Boyle, Sir Alan Parker, Colin Hanks. Mark Kprrnode, Suranne Jones. Helen Mirren, Ralph Fiennes, Lindy Hemrning, Slephen Warber*. The Henson Company, Roy Disney, Hamish Hamillon, Dermot O'Leary. Saoirse Ronan, Liam Neeson and rnany more Industry professionals to Ihe festival where they have given their time to share knowledge and skills with young people.
Cinemagic Limited Company Limited by Guarantee Trustees. Annual Report {Incorporating the Director's Report) (coTh¢lnu•dJ Year ended 31 March 2023 ClnernagK is Ihe only film feslival ol Its kwid for wung people In Northem Ireland arid Ireland It is designed for and by ycwr¥J people. The organis81ion continues to be endorsed by government In Ihe North and Soulh of Ireland for ils excellent worl( in chlldren% film education and its social outreach achievements. In 2019, Cinemaglc won Best Creative 8usiness at Ihe 2019 Belfast Buslrbes5 Award5. STRATEGIC OBJECTIVES Objective l - To be recognized as the leading children's festival in Ihe worl -Increase Cinemaglc's awareness. pgrtLMpation, and alence Ilgures. -To provide a feslwal progratnme of cultural. classic, and film screenings, educational workshops, film di5cussion5, rrkastercla55es, and workshops. -To produce a Tich and diverse festival ffilm programme offering thoice, accessibility foi all and an ncrease in audien p8rtlUP8tit)n. -To monilor and evaluate the fe5tlval with target audience and parerbts. teach& etc. -To kjrm an Internalional link wilh othei childrerb's film festivalsTiuries and dislributors. -To expand tha cInemag film jwy pr(xJrwnme and CinemagiG Young Film Maker as a signlficant natlonal comp8titM)n. -To furiher expand the Cinemagic outreach and education programme throughoul Nl. -To grow internatlonal showcase5. film making and trainiry projec15 in USA and Middle Easl, expanding and developing new aLlenCeS and profile of Ihe charity inteinationally. Obje¢tlve 2 - To glve all young people fmm different background$ ?n opporfynity lo learn and achieve new skills and gain new experlences. -To provlde opporiunilies for children io view and discuss a wid8r rang8 of moving Imagé materlal such as world cinema and independenvculiural cinema. .Consull educalors lo inform programming. -To aDnually have several Cqnema9lc Consultanls jLry who inwl into the feslival in programming and delivery. -To extend Ihe primary an(J secondary s¢hocA liim edLKation ev$nl& wlthln the fesiival includlng targeting areas of social need. -ProvSde maslerclasses for young people in filnimakng. and to encourage yovng people lo participale in Cinemagic film making projects and consider careers in Ihe crealive industries. -To encourage and support famity and community particip?liorb in screenings and events. -To provide creative opportunilies for sectK)ns of $Iety w*K) struggle io attend events due lo linancial and geographical IlmStalions. Objè¢tlve 3 - To develop new and Innovaffve and onllne opportunllJé$ Ihat educ•te. Inspire and motlvate youn9 peoplè throughotst Northem Irelaftd. -To provide crealrve opportunities for ALL yourwJ pee. with speGial emFtha5is on those sections of Society who struggle lo attend event5 due to fancial arKJ geographical limitations. -To increase Ihe Cinemagic outreach and education progr3mrn8 throughout NDrthem Ireland. -To devetop ar m8intain an annual Young Film Makers Competition as part of Ihe festival Éach year Ihat screèns young people's Vrk and recognlses young talent.
Cinemagic Lirnited CoTnpany Limlted by Guarantee Trustees. Annual Report Ilncorporatlng the Directorfs Report) (contlnu•dJ Year ended 31 MarGh 2023 Objective 4 - To be a financially secure and suslainable organlsation wilh a prolesslonal. competent, and molivaled workforee. -To secuie funding Irom both Publ arKI prlvate sl0r. -ro annually increase box oifi¢e. Clnemagic will be fo¢u6ing on developing more partnerships wllh the business communllies and privale seGlor. HOW OUR ACTIVITIES DELIVER PUBLIC BENEFIT Clnemagic delivers educalional and outreach events throughout the year and with I1uSandS ol young people from very marginalised areas. Cinemagic is a vehicle vthich can bring young people tO9ether iriespeclive of thelr race. colour or economic baCk9foLd lo engage in intercullural dialogue and breakdown barriers in a posblive and educational Cfeative environment. c1nemag projects nol only develops young people's Conf9c8. skills, perspeclives but help5 how Ihey torblrlbute to Iheir communilios artd LF¥)se around them. CinemagiG can lacilitale cultural 8XGhange between young people from diffetent c(Knmunlties and counlrles and provide unique opportunilits inspifing and supporting eniry into Ihe film and lelovisK)n s8¢lors and Ihe widèf crealJv¢ Induslries. Cinemagic focuse5 on developing petsonal skills and assisting in fiTKiing ways for young people to gain valuable tra9 and a5515t with closing the 5ki115 gaps which currently exist in Northem Ireland, Clnemag'G is a model of excellence in using the creativè industries lo inspire social and econornic change, We believe Ih81 Cinemagic has a rde lo play in helping Northern Ireland bLn-Id ? peaceful. falr and prosperous soGiety. which promotes equal opp(ytunilies and tackles social exclusion for young people from areas of extreme disadvantage.
Cinemagic Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (contlnu•dJ Year ended 31 MarGh 2023 Achievements and performance Now in Ils 33rd year, Clnemagic 18 an award wlnning internallonal chlldren's chartty Ihat Inspires, educates and empowers young people through the medium of film and televlslon. We run Europe's largest chlldren's frn festival wilh ambilions to become the lar9est Chlldren's Film FestSval of its klnd. Founded 1989, Cinemagic has touched the live5 Of more than 500,000 young people at home and abroad. The majority of young people we work wilh are frorrb maTginalised or disadvanlaged backgrounds. We dirgclly touch thè lives of morÈ than 40,000 young peoF4e around the world eatth year with plan8 lo inc(éase IhAI rig8 subsianlially over the rtexl tfwae yaars. The focal point of our cultUTal outreach 15 'Feslival' but In recent year5 we have expanded core woducl lo include different layers of oulreach social, educalional and vocational. This aciivity is delivered primarily IhrDugh eduGgtiDnal PTogrammes. industry led initiatives arNJ community based projects. Cinemagic's impacl on the Itves and cullural wellbeing of Indiv4thJ818 and CXJmmunilie8 18 prolound. Our mission stalerfienl is to ignite Ihe passion and potential of yotjng people thcough the magic of moving image and OLJr pwpose lo creale WOW tFYough experience. Our legacy wlll have been lo 'charige the lens through which youro people thernselves arNd Iheir Sufroundings,. KEY ACHIEVEMENTS o Cinemaglc rgcently won Best Crealtve Busine55 in the 2019 8elFast Busine55 Awards o In Marly) 2019 Cinemagic was Honoured to be selected arKI vlslted by The Duke and Duchess of Cambridge lo HoTr(KJr Ihe work of Ihe charity- CiTh8magic is recognised lor ils abilily to eng89@ wilh young OPle. lo slimulat8 dlseussion OTh soclal issues and Lo inspi(6 and entsourage children ar young people lo thrlve and be fully engagèd in Ihe social and 8conomic life of their Communily. Ctsnemagic delivers crèative programm8s which adth8SS social exclusion and associated yoblems ol bullying, drugs, olher adicLions, Sectari8rn i.e. hard hitting issues Ihal young pIe are deallng with a daily basis. parti¢ularly in areas of social and enOMIC disadvantage. All Cinemagic activity SiJGh as screening5. VrkshOps. maslerclasses and fdrn camps provides srnplimentary places to young people from areas of social and ecornrniG disadvantage. Cinemaglc also proactively work5 I1th young people with various levels of di5abihty. Cinemagic proactively targets young people aged 4 25 who would not normally have an opportunily to access creative initialives that can bufld confidence arml enhance learning. Cinemagic activities also have a strorMJ Inlergenerational S131 Inthsion focus. o Cinemagie supports eq(tality ol OPFrt)rtunity for yourvJ Peop Irom disadvanlaged areas and backgrounds by providlng opportunities lo leam from leading filrn and television professionals through the festival education progfamme. The organisatson works with hundfeds of schools and comrÈwnity gfOUPS al a very grass roots level Ihroughoul Northem IreFand. o ClnèmagiG SUPPOrts delivery of FILMCLUB in Northem Iieland. This 15 targeled at Ihg ExterKJed Schools {ES) prtyramme, which involves schools servlng arÈa$ of the highèst social dèpr¢valion, Ovér Ihe lasl 3 years Cinemaglc has engag8d wlth 168 ES schools. Th@ ES programrne aims lo wiiprovÈ 18vels of èducalSortal achlevèmènl and thè longer term Ilfe chances of diaadv8nlag6d children and young people by providing the rtecessary additional Èupport which can anab those Childr lo reach
CinemagiG Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (contlnu•d] Year ended 31 MarGh 2023 Iheir full potenlial. The ES programme provKles for a wide Tarye ol servres or aclivilies outside of Ihe normal school day lo help meet the needs ol pupils. their families and Icral MmunitIes. Flnan¢lal revlew Resulls for the year ended 31 Marth 2023 are given In the Stalement of Financlal AGtivitie5 on page 14. The assets and liabilities as at 31 March 2023 are given on Ihe Statemeril of Financial PositiDn on page 15. The financial staternents should be read in Gonjunclion wilh Iheir related notes. which appear OTh pages 16 10 24. In sumrnary: total inGorning resourc85 inCaSed by 3.16% {2022: increase of 14.03%) to £630,204 (2022: £610,902) lolal resowces expended ine&sed by O.Z2% (2022: increase of 36,16%) to £611,868 (2022: £610,555> - n8t surplus for the yoar on restrided furKis wa5 £18.336 (2022.. nel surplus of £347) The charity's key funder5 In 2022123 were Northem Ireland Screen leru)mpassing After SclM)ol Film CltJbl and Belfast Clty Council currenlly contribule funding towards Its core activities wlth additional major funders of Sklllset. BFI, 8vJ Lottery. Ignite, Arts Council. Harbour CornmlSslers & Creative Industrie5 & Digitsl Tethnologie5 Fund providing mwr funding other specific proj8cts undertaken by Cinemaglc Limited, DESIGNATED RESERVES The Board has examined the charityls requirer)wts for reserves in light ol the main risks to the oiganisalioTr. 11 has established a policy whereby the unreslricled funds cwimitted or invesle%J in tsngible lixed assets held tyy the charity should be between 3 gnd 6 rnonths of Ihe expenditufe. The reserves are needed lo meet thè working capital requirements of the charity and the Board are confidenl Ihal al ihé18vel a9r8ed Ih6y ¥vould bé able to conllnue the ¢urr8nt aclivitiés of thé charily in Ihe evenl of 8 $19rtifscanl drop In fundity. The present level of reserves avallatle lo Ihe charty falls over 3-rnonth largel level. The slralegy 15 to continue to build reserves Ihrough planlled operating SuluSes.
Cinemagic Limited Company Limited by Guarantee Trustees. An nual Report {Incorporating the Dlrector's Report) (c¢>ntlnuod) Year ended 31 MarGh 2023 Plans for future periods KEY STRATEGIC GOALS STRATEGIC TARGETS for 2023 Please note new largets will be sel for 2024 and 2025 as Ihe envlTDnmenVGovemrnent leglslalion 5tart5 to evolve, -secure funding of £800.000 in 2024, to eable CinemagK lo deliver all proieGIs. -In 2023, w& aim to prodLKe a iich and divem festival progrartwne- Incrèaslng en9agèment wilh schools and communiliBs by 5°k per year. -ThÈ 2023 Cinamagic BÈlfasl FAM ar TeleVtsffl fest181 will include a minirrnjm of 218 avènts th8L wlll provlde an even bigger plalfomi for lèarning ar developmenl. -To develop lh8 Young Consultants programming panpl, Cinemagic Film Jury programm8, BFI Fllm Acadèmy and addlllonal outreach programrnes and 0cl$. 9fowing audi8nce pa(IIcApalion by 5DA p year. -Grow the Young Film Maker Compelllion. Dn Thè Pulse. Irlto a sland aknn8 8vèrtI which happens as sepa¢alé lime tsl thè year lo Ihe festival, securing ov8r 600 entries per year. The objectives is to grow the ev8T)I 'Qn the Pulse. inlo an annual cultural and film makirtg tompeliuon and lestival which altracls hundreds of local and inlernalional participanls each yoar. -To deliver 2 inlemalional film making projects per yeai. -To develop the Cinemaglc Alumni network and a framework for peer to pew leafnlng, that surporls wider Industry laleTht development. -To grow lundinglsponsorship revenues by al leasl 5% over the nexl 3 years -To deliver minimum x 5 short filmslbehind the scenes documenlaries per year -To deliver Feature Fllm Produdion between 2023 - 2025 Internatlonal Growth Delivering International educaliona5 film ar training projècts of Ihis klrKJ will heppen Dn an Brbnual basis.
Cinemagic Limited Company Limited by Guarantee Trustees. Annual Report {Incorporaling the Dlrector's Report) (contlnugdl Year ended 31 March 2023 Tru5toe5' responsibilllles statement The truslees. who are also direclors for Ihe purposes of company law. are responsible for preparlng the Irustees. report and the financial statemenls in accordance wilh awlicable law and United bQngdom Accc4Jnting Staridards (United Kingdom Geneially Accepted Accounting Practice). Company law requlres the charity Iruslees lo prepare financial slatemenls for e8ch year which glve a true and fair vlew of the slate of affairs of Ihe ¢harilable company arKI the incoming resources and appllcalion of resources, inGluding Ihe income and experidilure. for thal perfod, In preparing these financlal stakm8nt5, Ihe trustees ae r&qiMred tts: select Suitable accounting FM)IKies and then apply them consist8ntly: observè the méthods and principles In th8 applicablè Charities SORP: make Judgments and accounkng 8slwnates thal are reasonable and prlent." prepa the financkl slalernenls on going concem basis unless il is w)gppropri8te lo presume ih81 the charily will ontinue w) bu$ess. The trustees are responsible for kéeping adequale ac¢ouThl#ig redS Ihat ar6 sufficieni io show and èxplaln th6 charity's Iransactions and ¢Jisdosé wilh reasonable accuracy at any Ilme Ihé financial Position of thè charily and enable them io ènsure Ihat the Ilnancial slalemonls comply wilh Ihe Gompan*s Acl 2(X)6. They are also fesponsible for safeguardiNJ the assols of Ihè charily and henc8 ror taking reasonable sieps for th8 prevenllon and detection of Iraud and olher irreguiarili8S. Audllor Each ol the persons who is a trutA8è al the datè of apprtsval of Mport confirms thal., so far a5 Ihey ale aware, there is relevant aLKlil [OnatiOn of which the charbty's auditor is unaware; ar# they have laken all sleps thal they oughl to have taken as a Iruslee to make Ihemselves aware of aTry relevarlt audit infomatKm and k) estatyish Ihal ihe charitrf$ audilw 1$ aware of thal informalion. The audllof is d68m8d to have beerb t8-appoinled In accordance wilh seclion 487 of th8 Companiès Acl 2006. Small company provisions This report h8s been prepwed in acwr(lance with Ihe pr¢)visions ewllcable to CompleS enb.tled to the small compan$ exempth)n. The Irustees. annual report was approved on 14 December 2023 and sign8d on behalf of the board of trustèes by", Ms M Hatfield Truste8
Cinemagic Limited Company Limited by Guarantee Independent Auditor's Report to the Members of Cinemaglc Limited Year ended 31 March 2023 Opinion We have audlled the financial slalemenis of Cinemagic Llmited (the 'charity') for the year ended 31 March 2023 which compribe the statement of flnancial activllies (includin9 income and expendSlure accounl), sla16ment of ff nancial posltk)n an(J the relaled noles, including a summary ol signillcanl accounling policies. The financial reporling ffan*work Ihal has been applied in their preparation is appllcable law and United Klngdom Accounting Standards, including FRS 102 The FirwiGial Reporting SlaDdard appllcable the UK and Repubk of Ireland {Uniled K¢ngdom Generally Accepted AccoLJntlng Piaclice). In opinion thè financial stat8ments-. grve a true and fair view of the state of the charity's affairs as al 31 March 2023 and of ils incoming resources and application of resources. incILIng its incorne and expenditUFe. for the year then ended; have been propedy prepared in a¢¢ordance wlth United Klngdom Generally Aceepled Accounling Praclico: have been prepared in acccwdance V¥ilh the rUIreMentS of the Goryanies Acl 20C6. Basi$ for opinion Wè conducted our audit In accordance wilh In16malicffl81 Standards on Avdiling (UK) (ISAS IUK)) and applicable law. Our resporisibilities under Ihose standards are lurlher described kn Ihe auditorfs responsibililies the audit of the financial stalemenls sectiM of our report. We are independenl of Ihe charity in accordance wlth the ethic81 requiremenls that are relevant to our audit of Ihe financial 81alements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other elhical respoftsibililies in accor(San¢e with Ihese feqLMrements. We believe Ihal the audit evideDce we have obtained Is sufficient and appropriale Io Pfovlde a basis for our opink)n. ConGIu5ion$ rnlatlng lo golng concern In auditing the ftnancial 5talernents. we have Concluded that the truslees. use ol Ihe going concam basis of accountir@ in the preparation ol the financial statements is appropriate. Based on the work we have performed. we have not identified any malerial uncertainties relating to events or ¢ditI& that. indiwdually or collectively. rnay cast significant dol on the charity's ability to continue as a going concem for a period of al least e1ve rnthS from wherb the financial slalements are authorise(I lor issue. Our responsi11108 and Ihe responsibililies ol Ihe Iru$lÈes wilh respecl lo going concorn are described in thÈ r818vanl sèctions of Ihis roport. 10
Cinemagic Limited Company Limited by Guarantee Independent Audltor's Report to the Members of Cinemagic Limited fwitlnu•dJ Year ended 31 March 2023 Other Dnforrnation The other inlormation comprlses the information •iduded in Ihe annual report, other Ihan Ihe firtrancial statemenls and our auditor's report Ihereon. The tfustees are responsible for the olher Informallon. Our oplnlon on Ihe financial stalements does not Ver Ihe other informatlon and, èxcepi io the exlent otherwise explicitty stated in our report, we do express any fonn ol assurance conclusion Ihere¢Jn. In conneclion wlth our audit of the In4cIal stslemts. our responsibility is to read Ihe 0th8r Informaiioft and, in doirKJ so, consider whelhw the olher information is malerially ihcorisistenl wllh Ihe nanciBI statemenls or our knowlÈdge obtained in the al11 or olherwlse appear5 to be malerially isstated. 11 we identify such rrtaterial incoThJiStorKies ( apparani material mFsslatèMènts. wè arè requlred lo detèrmine whelher there Is a materf81 misstatèment in th8 flnancial slatemenls or a malerial m1551atenent of Ihe olher infomiation. If, based on the work we havg perfcrThed, wc conGlude Ihal Ihère is a malerial missial8m6nt of Ihis other information, we are required to report Ihat facL We have nothing to report in th15 regard. OplnSons on oth•r matters pr•scrlbed by tho Companlos Act 2006 In our opinion. baséd on tho wwk undertaken in the course of audil: the infomialion given the trustees, report for the financial year for which the financial Statements are yepared is Consistent wlth the financial slatements. and the Iruslees, report has been prepared in accordan with applicable leg recpjirements. Matters on whiGh we arp requlred to Teport by exGeptlon In the light ol the kno¥*Aedge and understanding of the charity and its environment obtained in the course ol the audil. we have not Klenttfied material misstatements In the tTustees' report. We have nolhin9 lo report In respect of the foNowmg mattws in relation to which ihe Companies Acl 2006 requires US lo report lo you rf. in our opinion: adequale Bccounting records have not been kept, or tUrnS adequale for our audlt have not been received from branches noi visited by us., or the linancial statements are rK)l in agreemenl with Ihe accOLting records and retums: or cÈrt8ln disdosLK8S of Irustees. rÉMurwaiv speeAfiod by law are nol made., or we have not received all the Inkrnat[on and explanatlons we require for our audit- or Ihe trustees were not entltled to prepare Ihe Ilnanclal slalemenls in axordance wSth the sm811 ompanies regime and lake advarilage ol the small companies, exernptions in prepariDg the directois, report and from the requment to prepare a strategic pOrt. 11
Cinemagic Limited Company Limited by Guarantèe Independenl Audltor's Report to the Members of Cinemagic Limited (contlnu•dJ Year ended 31 March 2023 Responstbilities of trustees As Èxplalned more fully In the trust6es' responsbi ilities statement, the Iruslees (wtrK) ale also Ihe directors lor Ihe purposes of company law) are responsible foi Ihe preparation of Ihe financl81 StatertntS and for being sa11sfd Ihal they give a Irue and faif view. and for such internal Control a8 Ihe Iruslees delerrnine is necesswy lo enable the preparatim of [inclaI s181omenls Ihal are free from material misstatement, whelhef due lo fraud or error. In prÈp8ring Ihe financlal siatèmenis. the trLKStees are responsiblè for assessing Iho charily's ability lo ctnlinue as a going concern, dis¢105ing, as apCable, matlers related Lo going concem and using thè going concem basis of accounting Lmless the Imslee8 èilhor inlend io liquidate Ihè charity tt lo caase operalions, or havè no realiskn'c altemalive bul to do so. Auditor's responsibilities for the audit of the financial statements Our objectives are lo obtain reasonable assurance about whether the financial statenTrenls as a whole are free from material misslalemenl. whether due lo fraud or error, and to issue an auditor's report that indudes our opinion, Reasonable assurance is a high level of assurance, but is not a guarantee thal an audit conducled in accordance with ISAS (UK) ¥vill always detect a malertal misslalemenl when il exists. fvllsslalements can arise from fraud or error and are considered malerial if, indSvidually or In Ihe aggregate, they ¢ould re8sonably be expecled to inlluence the economic decisions of users taken on the basis ol these ancIal statements. Irrogularilies, including Iraud, are instances ol ntsi-compliane8 With laws and rewlations. We d6$19n procedures in line wllh our responsibilitios, oullined above. lo deloct material mtsslaloments sn respect of Irrega(lis, including fraud. The exienl Lo which our pmcedur&s ar8 capabfe of del&cllng irregularilles. inclu¢Jin9 fraud is detailed below. We obtained an LderstaNdIng of the legal and regulatory framework appllcable to the Company through 8nquiry of management, industry research and the applicalion of cumulative audil knowledge. W8 idenlified the ftsllowing principal laws and regulatitins rolevant to the Company - Compankes Act 2006 and thÈ Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). We developed an understandlng of the key fraud risks to the entity (irKludlng how fraud might occur). the contro15 in Pla to help mitigate those nsks, and the accounts. baLances and disclosures wllhin the financial statemerbls which may be susceptible to managernent bias. Our understanding was obtained through review DI the financial statements for significant accounling estimates, analysis of Journal entries. walkthrough of the key control cycles in place and enquiry of fnanagement. As part ol an audit in accordance wilh ISAS (UK), we exercise professiornal jLKlgment and mataIn profesSn81 sceplkism Ihroughout Ihe audit. We also: Identlfy and assess Ihe rtsks of material misstatement of Ihe financaaS statements, whether due to fraud or tor, dÈsiyn and pèrform audil procèdures responsive lo Ihosè rlsks, and oblain audil èvldoncè Ihal is sufficiont and apFopriaLe lo provide a basis lor our opinion. risk of n¢1 dètecting a malerial missialèm•nl resulling Irom fraud is hiQhof than lor one resulling ffom errot, as fraud involvè edlusion, forgrfy, it)tential omissiong, misfepresèthtalions, Or tho ov8rrié of iniemal eontrol. Obtain an urwjerstanding (rf internal control relevant lo thg audil in order to design audil procedures that are appfopTiate in the circumstances. bul not for Ihe purwse ol expressing an OFMnion on the effecliverbess of the internal contrd. 12
Cinemagic Limited Company Limited by Guaranteo Independent Auditor's Report to the Members of Cinemagic Limited [contlnupdJ Year ended 31 March 2023 Eveluate the appfokyialèness of 8CCOLlftting pollcl6s used and the re8sonableness of accountlng eslimales and related disdosures made by Ihe trustees. Condude on the appropriateness of the trustee5' use of Ihe going concern basis of aGcouriting Bnd. based on the audit evidence obtained. whether a material uncertainty exists related to event5 or condllions that may cast signifant doubt on Ihe charity's ability to continue a5 a going concern. If we conGlude that a matetial uncertainty exist5. we are required lo draw attention in our 8uditor's report to the relaled disclosures irb the flnancial 5ts1emenis or, If such disclosures ar8 inadequate. to modify our opinn. Our COlUsionS are based on the audil evidence obtained up to Ihe dat9 of our auditorfs report. Flowever, fulure evenis or conditions may Gause the charity lo cèase lo tonlinue as a going concem. Evaluate the overall presentalion, slructwe arwj contenl of the fanCIal slatements. includlng the dlsclosures, and whelher the financkgl sialemenls represent the UnderIng transaction$ and evets in a manner that achieves fair presentslkjn. We communicate wlth Ihose i*wged with g¢)vemance regarding, among otFw malters, Ihe planned scope and liming of the 8udil an(J signifAnt aijdlt findings. Including any signilicant deficienGles in Internal control tliat we identify during our audit. Use of our report Thls report Is made solely lo the charity's mernbefs. as a body. in accordance with Chapler 3 of Part 16 of the Companies Act 2006. Our audrt work has been undertaken so that we mtghl State to Ihe charivs niembeis those matters we are requlred to 5tste to them in an audtlorfs report and for no other puipose. To the fullest exlerbt permitted by law. we do not accept or assume responsibility to anyone other than the charity and the charity's members as a body. for our audit work, for this report, or for the opinion5 we have formed. Mr M Flannigen (Senior Stalulory Auditor) For and on bÈhalf ol FEB Charlered Accountants Cthartered accountants & slalutory auditor Linenhall Exchanoe 1 sl Floor. Z6 Llnenhal Street Belfast Northern Ireland 8T2 8BG 14 December 2023 13
CinemagiG Limited Company Limited by Guarantee Statement of Financial Actlvities (Including incomè and expèndlture aecount) Year ended 31 March 2023 2023 Restficled funds Tgtsl funds 2022 UestrIcted funds Tolal funds Incom0 and •ndowment5 Donations arxl legacies Other trading acllvilie5 Tolal income 600.089 600,089 30.115 $87.269 23.633 30.115 30,115 600,089 630,204 610,902 Expendlturp Expenditure on raising funds: Cosls of raising donaliorffj and legacles Expenditure on ¢haril8ble artivilies Total expenditure 10.795 595.771 4.318 606,566 5,302 604,881 5.674 11,779 6,089 611,868 610,555 Net Income and net movemenl in funds 18,336 18.336 347 Reconciliation of funds Total funds broughl forward Total funds Garried fonvard 66,995 1CK).865 167,B60 186.196 167.513 85,331 100,865 167,860 ThÉ stalement ol financlal 8CtivillÈs indudès all gains and losses rÈeo9nlsed in year. All income and expenditure dèriv8 fiom coniiAuing acllvilies. The notes on pagès 16 to 26 l•rm part of these flnandal slal¢ments. 14
Cinemagic Limited Company Limited by Guarantee Statement of Flnancial Position 31 March 2023 2023 2022 Note Flxed assets Tangible fixed assets Irlvestments 14 15 3.027 100 4.365 100 3,127 4,465 Current assets Debtors Cash at bank and in hand 217.108 113.9S2 157.198 135,115 292,313 331,060 Creditors: amounts falling due withln one year Net currant a$so1$ 17 147.991 128,918 163.395 183,069 Total as5et5 less Gurrent liabilities 186,196 167.860 N•t assets 186.196 167,860 Funds of the charlty Restricled lur$ Unrestricted funds 100,865 85,331 186,196 100.865 66.995 Total charlty funds 20 167.860 These fflnancial stalements have been wepared In accordance with the provisions appliGable to Companie5 subject to the small companies, regime. These linancial slatements were aptxoved by the board of Iw4ees and authorised for issue on 14 December 2023, and are signed on behall of the toard by: Ms M Halfield Trustee The noles on pages 16 to 26 forni p*t of these flnanclal slatements. 15
Cinemagic Limited Company Limitèd by Guarantee Notes to the Financial Slatements Year ended 31 MarGh 2023 General infomiatl The charity is a Publ benefit entity and a privale company Ilmited by guarantee, reglstered In Northern Ireland and a ¥egistered tharity in Northem Ireland. The address ol the re9islered office Is clo FEB Chartered Accounianls, Llnenhall Exchange, 26 Llnenhall Slreet, Belfast, BT2 8BG. Stalemenl of Gompliance These financial 51atements have been prepared in Complian with FRS 102, 'The Flnanclal Reporting Standard appllcable in the UK and the Republic of |relaTrd'. the Statement of Recommended Practice applicable to charities pieparing thelr accounts in accordance wilh th8 Finzncial Reporting Standard applicable in the UK aryl Republtc of Ireland (FRS 102) (Chawities SORP (FRS 102)) and the Comparbies Act 26. Ac¢ountln9 pollcles Basis of preparallon The firwnGial statements have been prepared on the historical cost basis, 35 modrfied by the revaluation of certain fingncial assets ar liablllties and investrnent propertie rneasured 21 fair value Ihrough income or expenditure. The fin8ncl81 statemenls are wepared in sterlin9. vthich is the fUrl)nal currency of the enitty. Fund¥ Restricted Funds The restricted funds Tepresenl dcffiations received where the donor has Imposed restrictiotis on the use of the funds wfftich are legally blnding on th& Board of TTUStees. Unreslricted Funds . The ur}St11clell funds we under the a>ntfol ol Ihe Board of Trusiees, to be U8ed In the lurtherance of the general tharilablo objectives of the ¢wpany. Going cortcwn The finaricial statements have been prepwed a going concem basis as the Iruslees believe thal no material UnrtaInty exists. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from aulhorising these financial slalemenls. The budgeted income and expenditure is sufficienl with the level of re5eTves for the chartty to be able to continue a5 a golng conGem. Disdosure exempttons Th& charlly has applle¢Y Updale BuftètTn 1 as published on 2 F8brvary 2016 and does nol indud8 cash now slaternenl on the 9rounds thal it 6 applying FRS 102 Sèetion 1A. Con5011dation The entity has laken advantage of the option not to prepare consolidaled financial stalemenls conlaired In Section 398 of Companies Ad 2(K16 on the basis Ihal Ihe enllty and Its subsidiary undertakings comprise a small group. 16
Cinemagic Limited Company Limited by Guarantee Notes to the Financlal Statements fcontfnu•dJ Year ended 31 March 2023 Actounting polleies (¢¢ndnvedJ Judgements and kèy sources of •8tlmatlon uncortalnty The preparation of the financial statements requlres management lo make judgemenls. estimates and assurnptions that affect Ihe nOun15 rewrted. These estimates and judgements are conlinually reviewed and are based on experience and other faclors, including expectations of fuluie events that are believed to be reasonable urKler the CifGumstances. Fund accountlng Unieslricted lunds are avallat46 for use al Ihe deI¢)n Gl the truste88 to further any of Ihe charSly's purposes. Deslgnated funds are unrestricted furK15 earmwked by the trustees for particular future project or corhmltment, Restricled funds are subiected to reslrickn'Ls on their expenditure declared by the donor or throlh the terms of an appeal. and fall into one of two sl-aSses. restricted Ir)rne funds or endawment funds. Ineomlng r6sourc All inwming resources are induded In the stalBrnent of financial activities when 8ritillernenl has passed lo Iho charity- il is probatle thal Ihe Èconomic nefIts a550clated with the Iransactio will flow Lo the charity and the amount can be rE4lbably rneasLKgd. The following 5peafic policies are apped to wiiGular calegorie5 of incoffle- income from donatlons or grants is reCOlsed when there is evTrdence of entitlement lo the gifL rece¥)t is piobabl& and tts amount C be measured rdiably. lesacy income is recognksed when receipt is probable and eThbllerMenl is esiablished. income from dDnaled goods is mea5Lwed at the falr vahje of the gooqjs unless this is impractlcal lo measure reliably, In which case the value is derived frorn Ihe cost to Ihe donor or the 05tirhaled resale value, Donatod facililies and services are recognisèd in th accounts when received rf Ihe value can bo reliably rnea5uTed. No arrK)unts are included for the Gontribution of general volunteers. Incomè from contracls for the supply of seNtces Is recognised wilh the dellvery of the conlfarted siCe. This is classified as unreslricted lunds unless there is a conlraclual requirement for it to be spent on a particular Pufpose and retumed if unspent. in which case may be regarded as restricted, 17
Cinemagic Limited Company Limited by Guarantèe Notes to the Financial Statements (contlnu•d) Year ended 31 March 2023 AccounlSng policies fGfjnllnv•d) Rèsour¢•$ exp•Aded Expendilure is recognised an accruals ba515 as a liability 15 IncUe, Expenditure Include5 any VAT whlch cannot be fully recovered. and Is classified un(kr headlngs of the stalerThent of rinancial activities to whlch it reI8&- expenditLwe on raising funos irKlude5 the costs of all furKlraising aclivilies. events. non-charitable trading acvIlIeS, and Ihe sale of donated goods. expendltuie on charltable actsvit*s IrKludes all costs incurred by a charlly In LAnderlaklng aciivlties Ihat further its charilable aims for Ihe benèfit ol its bènèficiaries, lftcluding thosÈ support cosls artd costs télating io the governanc6 of the charily appor.0Thed lo charilablé acllvilles. olher expenditure includes al 8xp8rKMure that Is neither related to ralsing funds for the charity nor part of il5 expenditure on charitable activities. All ¢osts are allocaled to expendilure categories ieflecling the use of the resource. Dlrecl costs allribulable to a single activity are allOled ijirectly to Ihat aclivity. Shared costs are apporlioned belween Ihe aclivities they contribute to orb H reasonable, justifiable and Ix)nsislenl basls. TangIb assèts Tangible assets are inl311Y recorded at cost. and subsequently 51ated at cost les5 any accumulated depreclation and Impairment losses. Any langible assets c8rried at rev8lLJed amounts are recordÉd at the fair value at the date of rovaluation less any subsequent accumulated depredathjn and subsequenl accumulaled impairment losses. An increase in Ihe carrying amount of an assel 88 a result of a revalualiw. is recognised In other recognised gains and losses, unless rt reverses a charge for Impairmenl that has prevknusly been recognised as exp8fbditure within Ihe statement of financial activlties. A decrease in the carrying amount of an assel as a resull of ¥evaluation. is recognised in other recognised gains and losses. excepl to which it offsets any previous revalualion gain, in which case Ihe Ioss is Shown wilhin other recognised gairbs and losses on the statement of financial activities. Depr•ciation Dewe¢ialion is ¢alculated so as lo wtiiè ofl Ihe cosl or vakjatlon of an as88t, 1055 ils residtsal Value. over Ihe useful economiG lile of Ihal asset as foll(XVS: Ixlures & fittlngs Equiprnent 250/0 reducing balance 25% straIt line Inveslments Unlisled èquity invéslments are initially ts¢OTded at cosl, ar¥S subseqtsently measured at fair valuè. If fair value cannot be rÉllably measured, assèis are measuréd at tosl less impaiimenl. Llsted investments are measLred at fair value with changes in falr value balng recognlsed In income or expenditure. 18
Cinemagic Limited Company Limited by Guarantet Notes to the Financial Statements (CDntlnuodJ Year ended 31 March 2023 AccountSng policies IGonifmi¢d) Investment$ In a8so¢lat•s Inveslments in as50clates accnted for In accordance wlth ihe cost model are recorded at cost less any accu1naIed KnpaiTment losse5. Inveslments in associates accounted for in accordarKe with the fair value mdel are Initially recorded at the transaclion price. Al each reporting date. the inveslmenls are measured al falr value. with changes ir fair value taken through income or expenditure. Where it is impracticable to Measure fair value reliably withoul urKlue cost ot effort. the cost model wiu be adopted. Dividends and olher dislcibulions received from the investment are reeogrtrised as Income without regard lo whelher Ihe distribuuons are frorn acGumulaled prolits of the aSSOCAate a¥islng before or gfler the dal8 of acquisition. Investments in jolnt venlures Inveslments in jointly conlrolted entities accounted for in accordance 1th the cosl modet are recorded at cost le55 any accumulated irnpairrnent losses. Investments in joinlly controled enlilies accounted for in accordance with the fax value model are Inillally fecorded al the transaclion price. At each reportlng date. Ihe inve81ments are measured al lair value, wilh changes in lair value taken Ihrowh h)come or expenditure. Where It is Impraclicable to measure fair value rellabty withoul undue cost (Y effort. Ihe cost mr)del wlll be 8dopted. Dlvid8nd5 and olher distribUlK received from thè IMStmen1 are recogTrised as Income without réoard lo whèlher ihe dIstritl110nS are Irom accum8(8d profils of p)inl véniui8 arising before or alier ihe dat8 of acquisition. Impairnient ot fixed assets A review for indicalors of impairnient is Carried oul at each reporting dale, wilh the recoverable 8mourit being eslimate(I where such indiGglors exist. Where the carrying value exceeds the recoverable amounl. Ihe asset 15 impaired ?rdIngty. Prw impairments are 8150 reviewed lor possitAe reversal at each reIng dale. For lh• purpose8 01 inwairmonl testsng, en it is not possibl8 to Èslimalo the rec¢)V@rable amount of an diVIdual assèt, an èslimalo is madè of Ihe récoverablè amount ol thÈ cash-generalin9 unll lo which Ihe assèt belongs. The tash-generallng unlt Is Iht smallèsl idenlttiable group of assels Ihal includes the assel and generates cash inflows thal lar9ely independent ol the cash innows fnym olher assets or groups of assets. For ifftpalrment testing of goodwll, the goodwill acqulred in a business cornblnation is, from Ihe a¢quisllion date, allocated to each of Ihe cash-generating units Ihat are expected lo benefit from the synergles of the comblnalK)n, wrespeGtlve of whether other assets or ll31111eS of the charity are assigned to those units. Flnancial Instrurnents A financial asset or a financial liabillly is recognised onty when the charity bbcomes a party to Ihts contraclual provisions ihe iThstn•menl. 19
Cinemagic Lirnited Company Limited by Guarantee Notes to the Financial Ststements (¢t}ntIndI Year ended 31 MarGh 2023 Limited by guarantee Clnemaglc Limlled was reglslered on 15 January 1998 as a company miled by gLfdranlee, not having a share capital. The liabilily of each member is timiled lo an amount nol exceeding £1. 11 Is also a charity regislered with HM Reven & Cusllxns. Donation5 and legacies Unreslricled Funds Reslrided Total Funds Funds 2023 Grants Grants reivable 600.089 600,089 Unrestricted Funds Restrlcted Total Funds Funds 2022 Granls Granls receivable 28.704 558.S65 587,269 Other Irading actsvities Unr8slricied Total Funds Unresl(icled Toial Funds FuThJs 2023 Fuftds 2022 Box ollice income 30,115 30,115 23.633 23,633 ¢ost8 of ralslng donatlons and legacl•s Urwestricted FurwJ5 Restflcted Total Funds Funds 2023 Dlrecl cost of activilios Wages and salaries Employer'$ NIC Pènsion costs Refil Ralé8 & watet Light & heal Repairs & maintenance IruranCe Travel costs Accounlancy lees Telephone cosls Depreclalion Cleaning 258.734 236.593 22.825 4,870 12,736 320 3.373 258,734 236,593 22,825 4.870 12.736 320 3,373 934 6,013 11,656 10,680 12,387 21,907 1,338 2,200 606,566 934 6.013 11.656 4.357 12.387 21.907 6.323 1.338 2,200 10.795 595.771 21
Cinemagic Limited Company Limited by Guaranteè Notes to the Financial Statements (contlndmdj Year ended 31 March 2023 Accounting policies f¢fjnNnv•d) FSnanclal Instrurn•nts f¢Qnlknj Baslc financial InStrunts are initialy re(Xgnised at the amount recelvable or payable Including any related Iransactiorb costs. Cuffent assets aNI current Ilabilities are subsequently measured at the cash or other considerallon expecled lo be paid or Teceived and not disColed. Debl in8trum6nls are sub$eouenlly measured al arrtISts1 cosl. Where investments in sha¥es are publicly Ir&Jed Of their fair value can otherwise be rneasured reliably. the investment is sub5equenlly measured at fair value with changes in fair value recognised In income arTrd expenditurE. All other such investments are subsequently measured at cost less impairment. Other financial instruments. inclLKling derivatives. are initially Tecognised at fair value. unless payment for an asset is deferred bèyorxl rK>rmal business terms or financed at a rate of mterest that15 not a rnarkel rate. in which case Ihe a55et is measured at the present value of the fulure payments dSscounted at a market rate of Inlerest for a similar debl Tnstrument. Other financial inslrurneTrls are subsequently measured at fair value. with arry changes recogriised in the statement of financial ac'vies, with the exception of hed9lng instruments in a desi9nated hed9ing relallonship. Financial asseis Ihal are measured at cost ( amNtised wsl ar8 miewed for objective ewidence of impairmenl at Ihe eTrd of each reporting date. If there 15 ot¥"eclive evldence of impairment, 8n Impairment loss Is recognised )de( the apprtyriate hÈadlng in thÈ siatemeni of financial aGlivities In wtrmch Ihe in1.a1 gain was rOgnised. For all equity in51rnments regardloss of significan, and otheT financial assets Ihat are Individually signifiGanl. Ihese are assessed individually for impairment. Other financial assets ale elther assessed IrKlividually or grouped on the basis of similar credit risk characleri5tics. Any reversals of impairment are re¢ognised immediately. to the extent thal the rever531 does not resull in a carrying arnount of the financial asset tha( exceeds what Ihe carryg amount would have been had the inipairmenl not previously been recognised. Definèd contrlbutlort plans contributnS to defmed contr)tiOn plan5 are reCOlSed as ark exp8n5e In th8 ped In lCh Ihe related seNice is provided. Prepaid contributions are recogn15ed a5 an asset to the extent that the prepayment wmi lead to a reductth in future payments or a cash refvnd. When contfibutions are not expected to be sellled wholly within 12 months of the end of the reporting date in which the employees render Ihe rel?ted seNice, the liability ts measured on a discounted present value basis. The unwindirvj of the discount is recognised as an expense in the period in which it arises. 20
Cinemagic Limited Company Limited by Guarantee Notes to the Financial Statements (crmtlntsgdj Year ended 31 MarGh 2023 Costs of raising donations and legacies (co•'nuéI Unrestricied Funds Restrlcttsy Tokn4 Funds FuThds 2022 Direct cosl of aclivilies Wages and salaries Employor's NIC Pension costs Rent Rates & water Lighl & heal Repairs & maintenance Insurance Travel c05ts Acco(0ncY lees Telephone Offe costs Deprecsation Cleaning 292.301 205.533 17.432 4.140 12.356 302 3.133 292,301 221,161 18.757 4.455 12.356 302 3.133 856 5.158 3.250 11.340 7.773 20,485 1.174 2.380 15.628 1.325 315 856 5.158 3.250 11.34ts 7.773 2.968 17,517 1.174 2.380 50.535 554,346 604,881 Expendllur• on charltable actlvStles by fund type Unfestricled FurK15 Restrtcted Total Funds Funds 2023 Support Costs 4,318 5,302 Urwestrtcled FuThJs RestrlGted Total Funds Fund5 2022 Support cosis 1,355 4,319 5,674 Expéndlturg ofi eharllablo a¢llvltl•s by attlvlty type Support Total funds costs 2023 Total fulld 2022 Governance costs 5.302 5,674 10. Nèt irtcoffle Net income is staled after chargiryl(crediting): 2023 2022 Depreclation of tangible fixed assets 1.338 1.174
Cinemagic Limited Company Limited by Guarante& Notes lo the Financial Statemenls {conltnuodJ Year ended 31 March 2023 l l. Audltors remuneratlon 2023 2022 Fees payable for Ihe audit ol the financtal stalements 4,320 4,320 12. Staft costs The tolal staff Costs and employèè bonefits fc* the reporting Peric are analys•J as follows- 2023 2022 Wages and salaTies Soclal seGurily cosls Employer ¢onLributlons lo pènsion plans 236,593 22.825 4.870 264,288 221,161 18,757 4,455 244,373 The average head count of employees dwing Ihe year was 6 (2022.. 6). The average nurnber of lull-lime equivalent employees during the year is anatysed as follows: 2023 2022 Number of staff The numbei of employees wte rernuneration foi the year fell within the lollowing barHls, were,. 2023 2022 £70,000 to £79,999 13. Tru$teÈ remuneratk>n and expons•s No remuneration OT Other benefits frorn empioymenl wth the charfty or a relaled enlity were received by the trustees. 14. Tanglbl• fixed a¥sels Fixtures arKI fiitings Equipment Total Cpst At 1 Aprll 2022 and 31 March 2023 Depreclatlon Al 1 April 2022 Charge for the year At 31 March 2023 13.837 73.699 87,536 13.837 69.334 1.338 70.672 83,171 1,338 84,509 13.837 Carrylng amount At 31 March 2023 3.027 3,027 4,365 At 31 MaTch 2022 4.365 23
Cinemagic Limited Company Limited by Guarantee Notes to the Flnancial Statements (cofitlnuedl Year ended 31 March 2023 15. Inve51ments Shares Fn group undèrtaklng Cost or valuallon At 1 Aprll 2022 and 31 March 2D23 Impalrnient At 1 Aprll 2022 and 31 MarGh 2023 Carrying amount At 31 March 2023 100 100 Al 31 March 2022 100 All investrnents shown above are held at Valua. 16. Debtors 2023 2022 Amounls owed by oroup ?d related underlaksngs Prépayments and accrued Incom8 Grants tÉceivablè Other deblors 143,563 5,472 65,5n 2,500 217,108 62,286 6,674 85,738 2,500 157,198 17. Creditors: amounts falling due within one year 2023 2022 Bank loans and overdrafts Trade creditors Accruals and deferred incorne Social security arKI ott[ taxe5 Credil card Other ciedilors 38 27,411 90,509 26,098 2.632 1,303 147,991 38 20,344 92,127 5.798 9.464 1.147 128,918 24
Cinemagic Limited Company Limitèd by Guarantee Notes to the Financial Statements (contlnu•dJ Year ended 31 March 2023 18, Deferred Incorne 2023 2022 At 1 April 2022 AmoLJnt released lo income Amount delerreil in year At 31 March 2023 69,159 163,822) 55.500 54,954 (35,183) 49,388 60,837 69,159 19. Pensions and other post retirement benefits Dèfined Contribution plans Th8 amount recognised in income or eXdIture as an 8XF*nse In rélalion lo dofinod contrlbulion Plans was £4,870 (2022: £4,455I. 20. Analysis of charltable lund$ Unrestricted funds At 31 March 20 23 At 1 April 2022 Income Expenditure General funds 66,995 30.115 (11,779 85,331 Al 1 Aprl 2021 31 March 20 22 Incorne Expondilure General lunds 66,648 52.337 151,990} 66,995 Fund doscripllons Reslricled funds are 8niounts lo be used for specKied purposes as laid down by ihe doncK. Expenditure which meets these criteria charged lo the fund logether with a fair allocatlon of overhead and support costs. The Iwstees have no corbtrol over these funds other than ensuylng they are spent for Ihe purposes inlended by the donors and therefore no taiget level has been set. Unreglricted funds are freely avallable to spend on any of the charilys purposes, 25
Cinemagic Limited Company Limited by Guarantee Notes to the Financial Statements (coNtlnu9dJ Year ended 31 March 2023 20, Analysis ol ¢harltable lunds fvontlnuedj Rèstrlcted funds At 31 March 20 23 1 Aprl 2022 Income Expendilure Restricied Fund 100.865 6W.089 {600.089) 1 00,865 At 31 March 20 22 At 1 April 2021 Iru)me Expendilure Restrtcled Fund 100,865 558,565 {558,565) 100.865 21. Analysls of net assets between funds Urweslricled Funds R8stricled Toial Funds Funds 2023 Tangible fixed assets Inveslmenls Current assels Credllors less than 1 year Net a53ets 3.027 3,027 100 245.729 331,060 {147,991) (147,991 11MJ.865 186,196 85.331 85.331 Unrestriclod Funds Restrlcled Total Funds FuTrd5 2022 Tangible fixed assets Investment5 Current asset Credilors less Ihan 1 yèar Net assets 4,365 4,365 100 225 318 292,313 {128,918) 1128,918) 1 CK).865 167.860 66.995 66.995