COMPANY REGISTRATION NUMBER: N1033497 CHARITY REGISTRATION NUMBER: XR28542 Cinemagic Limited Company Limited by Guarantee Financial Statements 31 March 2024 FEB CHARTERED ACCOUNTANTS Charlered accountants & stslutory auditor Linenhall Exchange 1 st Floor, 26 LineT7hall Street Belfast Northem Ireland BT2 8BG Cinemagic Limited Company Limlted by Guarafitee Flnancial Statements Year ended 31 MarGh 2024 Page Trustees, annual report (incorptsraling the directorfs report) Independent auditorfs report to tho members ststement of financial activities (includirKJ in¢omg and expendilur8 acGount) Statement of financial positlon 11 15 16 Notes to the financial stateTnents 17 CinemagiG Limited Company Limited by Guarante9 Trustees. Annual Report (Incorporating the Dlrectorfs Report> Year ended 31 March 2024 The truslees, who ere also the dIrect￿5 for the purFx)ses of CoMp￿Y law. present Iheir report and the fiDancl81 slatements ol the charity for the yew erKJed 31 March 2024. Refernnce and adThinlstrative details Regl$lgrnd charfty name Clnemagic Limlted Charlty r•ol8tratlon number XR28542 Company registration number N1033497 49 8otanlc Av8rwe Belfast 8T7 1JL PrinGlpal office R•gislered offiG• clo FEB Charter8d AcGOUThtants Linpnhall Exchange 26 Linenhall Street Belfasl BT2 8BG The trustees Ms M Haffield Mr A O'Neill M5 K Srnith Ms G ￿￿￿ueen Mr M Lennox Mr P Snodde Audltor FEB Chartered Accounlarbts Chartered accounlants & statutory aLKJllor Linetthall Exchange I st Floor, 26 Lmenhall Street Belfast Northem Ireland BT2 88G Bank•rs Bank of Ireland 4-8 High Street Belfast 3T128A Cinemagic Limited Company Limited by Guarantee Trusteas, An nual Report (Incorporating the Dlrectorfs Report) (contlnug Year ended 31 MarGh 2024 Stiuc¢ur•& governance and managemont Clnemagic Limiled Is con8lltuted as a company Ilmlted by warantee and is 9ovemed by Mem￿a￿dUm and Artlcles of Assoclatk￿. The Board of TnJstee5 are responsible for the straiegic management of the charity. The Board of Trustses and name5 of wlnclpai advise￿ are sel out on page 1. The Board appoSnts 811 new Iruslees based on Select￿ rJiieria, whlch ensures that colSectlvely It maintalns a broad range of relevant skills and experience. An induclion programme is offered to all new truslees to ensure Ihat they ate briefed on the charitrfs objects, strategy and activities. The Ifustees hawe the overall responsibility for Ihe system of Sntemal conlrol for Ihe charily. which Indudes ernsuring that there are reasonable procedures in place tor the prevenlion and deleclion of fraunal shorl fflrns. Young People have Ihe opportunlly to partlclpate in workshops. lutorSals and lalks covering many aspects of Ihe filmmaklng process. illustrating the inwortance of short filmfflaki￿ in ihe developmerf of practical skills and 8usiaiTroble caTeers in Ihe creative industries. Throughout the yeaf a Key Stage 3 programme Is dellveied by Cinemagic in w to 10 post-primary Gchools In Northem Ireland. The aim of Ihe projecl is to encourage young people to C4)n8ider Moving Image Arl as a GCSE and to provlde them wilh an inslghl to Ihe careers available post education. Workshops and maslerclasses 8re delivere(l either face-ttrface in schools Of online by local screen indusiry kyofess1￿}aIs. A 4-week anifflation programme is delivered by Cinernw to 6 Spéclal Ed￿atIOnal Needs Schools. Working alongsid8 a digital art151, workshops will bè delivered In schoo15 to yourtg péople and ooNdlnaie￿ wth th8 school SEN Co4*dinator. Cln8magic also olfers a free axes5 seclion io festival PrO￿amMe5 lo cater for Individuals and communtlies thal would not othep*Yise be able to affc￿d lo attend the fdm. To support local Foodbanks. Clnemagic ha5 dedicated film screenings working in partnership with the Trussell Trust. Instead of paying for a regular ticket to 8 film screening, audiences are asked to dorbate an essential Item on lh8 day as identlfled by the Food Bank. Clnemaglc Aims and Objectlv•s The aim$ and objÈCtkvés of Clnemagic arè as follt)ws: Aim 1- To be recognized 1ntema1ion￿ty as the leading young people's film festlval. 1. To c(Fdesign a culturally diverse annual feslival progfamma With and for young people, 2, To develop and malnlain strategic partnerships In th8 UK artd Iroland, USA artd IAlddle Ea8t, wlth showcases lo highlight the work of Ihe charity. 3, To monitor média and markeb'NJ activities to 8vldenca the engagemtnl and reach of fe8t6val activities. 4. To gathèr Infomatlon from 18Stival partieipants that shthvs the impael and outcomes that thé féstival has achievéd, includlng ihroLKJh case sludiès and 18stival alumi SLKCèSS Storles. Alm 2 - To give young peopl8 from al backwund5 an OPPDrtunty to a￿sS and engage with film. 1. To offer a Ffogramrne of actNilles that are accessible to all seclions of society, inclLKling free lo access opportunitiès. 2. To target outreach aGtivities in areas that have b8en identified as boing 50cio-econtsmKally disadvantaged or that have been harder to reach In th8 pasl, indudlng rural areas, 3. To prloritise groups that have been tradI￿OnallY urHlerrepresent8d In the screen Industrtes. Ir￿UdIng young peoplo, women, minorily elhnic, disabllity and those that have not had Ihè opportunlty to ngage in screen as a part of Ihelr leaming, 4. To ratsè awarènéss amongst young aUdiW￿es of current SOCi8tAI Issues through film. including providlng support lo l¢xal Food Bank8. Cinemagic Limited company Limited by Guaranteo Trustees, Annual Report Ilncorporating Ihe Dlrectorfs Report) (c¢#Jtlnu•d) Year ended 31 MarGh 2024 Objoctlves and activlti¢s l¢onlln4 Clnemaglc Alms and OW•ctJv•s {conllnued) Am 3 To ulllise film to educate, inspire and molFvate y￿9 p8orAe. Informing thelr career Pfogresslon. 1 . To provide a co[￿rehenSiVe pwramme of educ81ional worf(shops, film discussions. and Industry masterclasses that wlll enhance opportunitles for young people lo experlence and learn about111m. 2. To develop skills Ihal contribute lo future education rnites and enhance poientlal employablmly prospecis. 3. To increase 8¢cess lo handS￿n filmmakiNJ trainiThJ and Insights tr(Nn induslry professlonals from companies across sueen induslry seclors. 4. To raise Ihe aspifations of young people as lo whal Ihey can a¢hieve bn thelr future careers in ttr screen sectois. 5. To increase awareness of lob roles available In the 5 screen sect(xs In Nl. Alm 4 - To produc8 hlgh-quality 18StIv￿ film prog(ar￿n1ft9 for youn9 p6opI8 Ihat celebrates film cullur6. 1, To organls8 annual fésllval proorammes Ihat exhibil th8 cultufal a8pe¢l8 of screen, providing opportunlties la vièw dlv8r8e and exclusiv8 film ￿ntertl both inlernational and home grown. 2, To provid8 OPPOrtunllies k)r youThJ p8ople to curat8 a cullufal film progtsmme as Young Consultants. 3. To provide opportunllles for young people to view and dl8CUSS 8 wlder range of moving Image malerial. Including as Young Jury Memljers. 4. To deliver a Young Film Makers compeb'tion each year, screenin9 thms made by young people celebraling and nurturlng young filmmakirbg lalenl. 5. To en9age wllh a range ol stakeholders (dlstribut¢ys, exhibilk>n veriues, ￿mMunIty groups, charities, media. etc.) lo develop and deliver a d￿er$8 and aLLYssibk festival programme. Alm 5 - To bÈ a financially 88cure arnj suslainabl• ￿ganIsatI￿ wlth a prolÈsslonal, comp81￿1 and mollvalèd workforce. 1, To secur8 lundin9 from both wbllc and ¢*fva18 Sect￿ Sources lo ￿SUre Cinèmagic remains vlable. 2. To increase annual box otrice by 5%. 3, To providè oppOrt￿lI1@s for slaff dev8lopxn8nt through Irainin9 in areas sI￿h as fufiding, sponsorshlp, èxhlbilion, marketing and produclion. 4. fo support staff through the ddyrfery ol peri(xlc appraisals. CCEA GlnemagK havè produced resourtes for CCEA for the last 6 years. Wé pnxlute short rilms that are rellective of issu8S that ars being laught in the CLffriculum. This partnership works Incredibly well as CGEA have the expertise in Ihe writing ihe resources and our SCfipIs1 short filffls brlng these to light. MuGh of OLW feedback from teachers wlll refer to IK>w we allow them lo brfng those more thallenginu Issues Into the classroom and dis￿5$ th8m wrfh eA)nfidence. We recently pioduced resources wound Period Dignity arKI Consent. These all go live ￿ the CCEA webslte In the nexl few weeks and we be delEvering Some PR around these educatlonal resources. You can view exaTnples of our on CCEA'S website on their Active Cilizen5hip wth Drama page hll *.Ile.cE.?.a .iikne?Tnln -rpsinJrcpslacAivp.-rAlizeNshi .lilffl-and-Ilr8in.q#.' ;lexl-'CCEA'1o2nArp 'Y421)rlpli hlpd'/,2nio'/i,?(I r￿￿ting oslimatès thal are rèasoThab￿ and prudènt; prepare the financial slaternetbts on the going concern basi5 unless it is knappT0p￿atO to presume thai the charity will continue in business. The Irustees ere responsible for keeping adequate a￿o￿Trting records Ihat are Sufficient to show and explaln the charltys transactions and disdose with reasonable accuracy at any time Ihe financial positiDn of the charity and enable them lo ensure Ihat Ihe financlal statements comply wlth the Companies Act 2006. They are also reSp(￿sIb￿ lor safeguardirvJ the assets of the charity gnd hence for ta(ing reasoneble sleps frx Ihe prevention arKJ deteolion ol Iroud and other irregulafilies. Audltoy Each of the persons who Is a Irustee at the data of approval of ttr¥5 report Gonfimis that; $0 far as Ihey are aware, there 58 no relevant audll inforrnatlon of whlch the char5tls audltor is unaware.. and Ihey have laken all steps that they ought to have laken as a Iruslee to make themselves awaro of any relev3nt audlt irrfomiatw)n and to esiablish Ihat Ihe charitys auditor is aware of Ihal Informalion. The auditor Is deemed to have begn re-appointed In accordance wllh se(Xion 487 of the Companles AGI 2006. Small company provlslons Thls report has beèn pr8par8d in accordarth With the provisions applica￿ to compami•8 8ntillèd to lh8 small companlés exempibn. The tsustees, annual rewrt Wds approved 31 t)Gtober 2024 and signed on behalf of the board of truslees by= Ms M Haffield Truslge 10 Cinemagic Limited Company Limited by Guarantoe Independent Auditorfs Report to the Members of Cinemagic Limlted Year ended 31 March 2024 Oplnlon We have audlted Ihe financial slatements of Clnemagl¢ Llmited (the 'chaftly') for the year eftded 31 March 2024 whlch comprise the stalement of financial actlvltles (including income and expendllur8 account), stalanenl of Ilnancial posltlon and Ihe related noies. including a summary ol signlllcanl accournling policies. The financial reporting ffamework Ihal has been applfied In theSr preparation is appllcable law and Vnited Kingdom Accounting Standards, includlng FRS 102 The Financlal Reportlng siandard appllcable in Ihe UK ar￿ R&pUbr￿ of Ireland {Uniled Kingdom Generally Accepted Accounting Practice). In our oplnK)n thè fln8nci81 statÈments: glve a true and fair view of the slate of the charws aff?¥5 as al 31 M*ch 2024 ar)d of its incorning resources and application of resourGes. kncluding its income and expenditure. for the year then ended: have been pr¢)perly prepared In acwthnce wlth Llnited Klngdom Generally Accepled Accounling Pracilcg: Ilave been prepared in ¥Xtsrdanco wilh thè réqulremenls of tho Companies Acl 2￿6. 8a515 for opinion W8 conducled our atsdit In accordanafj with Iniernational Standards on Audillng (UK) (ISA8 {UK}) and applicable law. Our responsibilities under Ihose standards are further describe(l in Ihe audito¢s responsibilities for the audit of the financial slalemenls section of our report. We are independent of Ihe charity in accordance wllh the elhical requirements that aro relevant to our audit of the financial 8tstements In the UK, including Ihe FRC'S Ethical Slandard, and we have fulfilled our other ethical respon8ibllilie8 in accordance with these requirements. We belleve Ihai the audit evtsler￿ we have obiained18 8ufficlent arKI appropriats to w¢)vlde a basls for our WnloTr. Conclusions relating to golng ￿ncern In auditlng the financial staternents. we have concluded that the ITUStees' use ol th8 going concern basis of 4CCOLtnling In the preparatlon of the financial stslements 15 appropriate. Based on the work we have performed. we have nol Klentified any malerial uncert8lnlies relating lo evenls or conditions that. individually or colkctively. may casl sKJnificant doubl on Ihe chariVs ability to continue as a going concern for a period of at least twelve montts from when the financial statements are authorised for Issue. Our r8spDnsibilitl88 and Ihe f8$￿￿$1b1Irt18S of the trustees wilh r8spo¢t lo going C￿cern are déscribed In Ihé relevanl séctions of Ihis r8lX•rt. 11 Cinemagic Limited Company Limited by Guarante• Independent Audltor's Report to the Members of Cinemagic Llmited (ctrntlnuo Year ended 31 March 2024 Olhgr Inforniatlon The other information comprlses the information iicluded in the annual report, other than the finandal 8tatemenls and our auditor's r6POrt Ihereon, The truslees are responsible for the other InformalloTh. Our oplnlon on the financlal statements doe8 nol cover Ihe other irbft)matlon and. excepl lo the exlent therwlse explicitty stated In ow report. bve do express any fomi of assurance conclusion Ih¢reon. In connedlon with our audit of the ffinanGral 5ts1ements, wesponsibility is to read the other Inlormalion ar￿, in ¢Joln9 so, conlldér whtlhèr the other information is matèrially inctsThsistent wlth Ihe flnanclal statemènl8 0¢ our krM)wlÈdge obtained in thé audii (* otherwlse app8arA lo be mai8rialty misstatèd. 11 wé idèntify such matetlal incfJnSiSt8ncie& or apparértl materlal mis8tatèmènt5, WÈ are rèquired te dotemiirtè whethér there Is a matÈrlal mlsstalémènt ￿ the ffinanclal statem8nls ￿ a malotial mlsstalement of Ihe othgr informati￿. If, based on the Wofk wa have perfonrTed, we conGlud8 Ihal there is a malerial misstalem8nt of Ihis olher information, wa are requlred to r8POrt Ihal facl, We have nothing to report In this ward. OplnloTh8 on other matt•rs pi•scrfb•d by th• Companlu Act 2006 In our opinion. basad on thè work und8rlaken comè of the audit: the Informalion given in the trustees, report for the financial year for whSch the Ilnanci81 ststements are prepared is conslstent the fin￿da1 slatements: Ihe Iruslees. report has been prepared In aCCordar￿e wllh applicable legal requlrements. Matter5 on whlGh we are requlrod to report by exception ID the light Df the knowledge and undersLanding ol the charity and its ènvironment obtsined In the course of the audlL we have not identified Material mi551atements In Ihe trustees, report. We have nothlw to report in resped of tho fdb)Wig matters In relatk)n io which tho Companies A 2006 requires us lo report to you rf. ￿ our w"nion'. adequale accOun￿ng records have nol been k8Pt, or rptums adequate for our audlt havo not beèn r6calvèd from branches not visited by us., or the financial stslenEnts are Ml in agreement wth the accountiThJ records and retums: or certaln di8doBures of truste8s' rnmuneration specified by law are nol made; or we hwrfe not recelved all the Informatlon arHJ explanalions we Tequlre for our audit" or the trustees were not entftled to prepare fv finandal slatemenls In accor(Jance ￿th the small Companies regime and take advant8ge ol the srnall c(xrpanles' exemptsons in kwepariDg Ihe dirKlofs' rep(%t and from the requirement to prepare a slr8legic ￿port. 12 CinemagiG Limited Company Limlted by Guarantee Indopendent Auditor's Report to the Members of Cinemagic Limlted (contlnuodl Year ended 31 March 2024 Respon5ibllltles of trustees AS explalnèd more fully In the Iruslees. responsit*llltie8 Statement, the trustees (who are also Ihe dlfector8 lor ihe purposes of company law) are responsible for the preparation of the financlal siat8ments and for belng satlsfied that Ih6y give a Inje ar￿ fa¥ view. for such intemal conlrol as Ihe trustees detefmine is nec8888ry lo enable the prepwaticffl of financial statemenls Ihal are free from material mlsstalemenl, whelher due lo frdud or error. In proparing thè financlal slatèmenls, the trustees are rèsponsible for assèssing Iho charlty's ability to continue És a going concern, disclosing, as app￿Cable, mattèrs related io going conc8m and using thè going concèm basis of accauntlng unless Ihe Irustees èither intend to IIqLlldalé the charity or lo cèasé opèralions, or havé no realisllc alternalive bul to do 80. Auditorfs respoThsibilitles for the wdlt of the financial statements Our objeclives are to oblaln reasonable assurance aboul wh&lher the financial stalements as a whole are free from material misslatement. whethei due to fraud or eNor, and to Sssue an audllor's report that Includes our oplnlon. Reasonable assurance is a high level of assurance, bul is not a guaranlee that an audit conducled in accordance with ISAS (UK) will atways detecl a malerial misststement when it exists. Mi55tatements can arlse Irorn Iraud or error and are considered rnalerlal if, indivldually or in the aggregate. they could ￿asonablY be expected k) inffluence the economic 4Jecislons ol users 18ken on Ihe basis of these financial ststements. Irr8guiarilles. including Iraud, ar8 Instsnces ol non-compliancé wilh laws and règulalions, We des￿rI procedures in line wilh our responsibllilies, outlin8d above, lo del8Ct material misslatements in réspect of Irregularlll8s, including fraud, Th8 exlent to Ythlch ￿Jr kYocedLK88 are capab18 of delectlng Srregularllles. inclLKJing fra(￿ B detailed belovr. We obtalned an understarKling of the lega and regulaw tramework appllcable to the Company through enquiry of manag8rnent, industry resèarch and the application of cumulative audil knowl8dg8. We Idenllfl@d the fDllowlng principal laws and regulations re￿vant lo thè Company - Companiès Act 2006 and the Financial Reporting Standard applKable in the UK and Republic of Irelartd (FRS 1021. We developed an understanding of the key fraud risks to the entity (including how fraud might occur). the contro15 in place lo help mitigate those risks, and the aGcounts. balances and dI￿1p$ures wilhin the flnanclal slaternents wlwch may be Susceptible to management bias. Our understandlng was oblained through Teview of the financial statements for 5ignikant accounting estimates, analysis of journal entrie5. walkthrough of the key control cycles in piace and enquiry of management. As part of an audil ID gecordance wilh ISAS (UK). we exercise professional judgment arbd rnainlain professiongl sceptirism throu￿0￿1 the 8udit. We also: Identlfy and assess the risks of m*rial mlsslatement of thè finanGial slatemenls. whether due to fraud or error, dèsign afid pérform audil proc8dur8s fèsKK)n81v8 to Ihosè rlsks, aftd oblaln audit 8vldènce ihal is S4Jfficient and apFmpriatè lo provide a basi8 for our Opinion. The rlsk ol not dètècllng a malefial missiaterrténl r•sulling froffl fraud is highor than for one resu116ng from error, as ffaud may involv8 collusion, f¢ygery, intentitinal omisslon8, misreprÈsèrtlations, or th8 ovèrrid& 01 itit8mal contr¢4. Oblaln an understanding d inlemal control relevant to the audit in order to design audit procedures that are appropriate in the circuTh5tance5. not ts the purpose of expresslng an opmion on the effeGliveness of the intemal contrd. 13 Cinemagic Limited Company Limlted by Guarant•o Independent Audltor's Report to the Members of Cinemagic Llmlted (etsniinu•dJ Year ended 31 March 2024 Evoluale the appfoprfaleness of accounllng pollclas used and the re8sMablenass ol aCc￿ntIng a8￿MateS and related disclosures made by Ihe InKstees. Condude on Ihe appropriateness of the Irustees. use ol Ihe going concem basis of accounting and. based on Ihe audlt eviéenGe oblained. whether a malerial uncertainty exlsts ielated to events or (xjndllons that rnay cast signlflcant doL*>t on the chailtys ability to conllnue a5 a going concern. If we condude that a material uncertair)ty exis15. we are reqUI￿d to draw allention in our auditor's report to the relaled disclosures In the finandal 5talements or, W such disG105ures are inadequale. lo modfy ow opinion. OLW IX)nclusions ale based on the audil 6videnc* obtaine up lo Ihg date of our auditorfs report. However. fulw8 evetTrts or widltion5 fflay cause the tharily lo cèasé to Continue as a golNJ con¢•m. Evaluate Ihe overall presentation., slfucture and content of the flnancial statements. incjudlng Ihe dlsclosures. and whether rm?￿1aI slalemenls represent the underlylng traDsaclions and events In a manner that xhieves fair PTesentslion. We communlcate Ihose tharyed wlth govem8nce fegardlry. among olher matters. Ihe planned scope and timing of Ihe audit and signifKant audit findlngs. Inclu¢Jing any 5ignlficarbt deficlencfes In Inlemal Gontrol Ihal we Identrfy duiin9 our audht. Use of our report Thls report Is rnade 501ety lo the charitys members. as a body. In acC(￿danCe wlth cha￿er 3 of Part 16 of Ihe Companies Acl 2006. Our aLNfrt wiyk has been underfaken so Ihat we mlght state to Ihe charl￿$ members Ihose matter5 we are required to slate to them In an auditorfs report and fof no other pu￿oSe. To the fullest exlenl permitted by law. we do nol accept or assume responslbllity to yone other than Ihe rharlly and the chaTty'$ members a5 a body, for our audit work, for Ihls report, or for the oplnions we have formed. Mr. M Flannyjan {Senior Slalutory Authlor) For and on behall of . FEB Chartered Accounlanls Charlpred accountants & statutory auditor Linenhall Exthange 1s1 Floor. 26 Linenhan Street Belfast NoTlhem Ireland BT2 8BG 31 October 2024 14 Cinemagic Limited Company Limlted by Guarantèè Statement of Flnanclal Activities (Includlng income and •xpondlture account) Year ended 31 March 2024 2024 Restricted funds Total fvnd6 folal funds 2023 Uryeslricled fijnos Income and endowmonts Donptlons and legacies Other trading actsvities Tolal income 569.126 569,126 40,238 609,364 600.089 30.115 40.238 40.238 569,126 630,204 Expendllure Expendlture on raising funds: Costs of raising donations and legocles Expenditure on charilable Hdlvlties Tolal expendlture 37.363 667 564.942 4.321 602,305 4,988 607,293 606.566 5.302 38,030 569.263 611,868 Nat Incom• and net movement In funds 2.208 (137) 2,071 18.336 Re¢onciliation of funds Total funds brought lorwar(I Total funds cattled forward 85.331 100.864 186,195 188,266 167.860 87,539 I￿,727 186,196 Th8 Stalam8nt ol financlal acllvill8s Indud8s all gains aThY108ses r8cognlsed In Ihe year. All Incom8 and exp8ndilurÈ derbV8 from continulng acllvi118S. Th• notes on pages 17 to 27 fomi wt of these Ilnanclal Stateme￿$. 15 Cinemagic Limited Company Limited by Guarantee Statement of Financlal Posltion 31 March 2024 2024 2023 Flxed assets Tangible flxed assets Irbvestments 14 15 3.724 100 3.027 100 3,824 3,127 CurreTht assets Debtors Cash at bank and in hand 16 235.559 70.317 217,108 113,952 305.876 331,060 CredftoTS: omount5 falling due within one year Not curr•nt ass•l8 17 121h34 147,991 184,442 188,266 183,069 Total assets I￿8 Current liabilitses 186,196 Not a886ts 188.266 186,196 Funds of th• charlty Restrlcled funds Unreslricled funds 100,727 87,539 188.266 100.865 85,331 Total charity tunds 186,196 These financial statements have been prepared In accordance with the piovlstons applicable to companies subffiecl to the 5maM companles, regime. These financial slalements were approved by Ihe board of trustees and euthorised fLY Issue on 31 October 2024. and are slgned on behalf of the board by: Ms M Hatf181d Truslee The notes on pagM 17 to 27 klrni part of these flnanclal statemenls. 16 Cinemaglc Limited Company Limited by Guarantee Notes to the Financlal Slatements Year ended 31 March 2024 General infonnalion The charily is a publ￿ benefit entity and a privale CoMp￿Y Ilmited by guaranlee, re9I81ered In Northern Ireland and a reglstered charity in Northern Ireland. The address ol the regislered office 18 clo FEB Chartered Accouniants, LIr￿hall Exchangè, 26 Llnenhall SlreeL Bélfast. BT2 8BG. ststement ol Gompliance These finar￿al statemenls have been prepwed in ￿mplIanCe wlth FRS 102, Tre Flnanclal Reporting Standard appIl￿ble in the UK and Ihe Republic of Ireland,, Ihe Statement of Recornmended Practice applicable to GFLariti8s preparing their accounts in accordance with Ihe Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 Icharitie SORP (FRS 102)) and the Companies Act 2￿6. Accountln9 polic1•6 Basis of preparallo The Ilnancial Statements have been prepared on the historical cosl basis, as modlfied by Ihe revaluation of certain financtBI assets and liabililies and investriient prope￿"e$ measured at fair value through Incorne or expendilure. The financlal sletements are prepared In Sierllng, is the functional currency of Ihe entily. Fund$ Restrlcled Funds Thè re51ricled furNJs Tepresent nalk)ns received where the donor has Imposed restriclions on the use of Ihe funts ¥¥thlch are18gally blndlng on thp 8oard of Twstees. Unreslricted Funds . The urrfestricled funds are under the cont￿1 of the Board of Trustees, to be used In the furtherance of the general charilabk oblecllves of the company. Golng ttsncern The fSnanGial 5talements have been prepared on a 90ing concem basls as the Iruslees believe that no materral uncertainty exists. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 month5 from authori5ing these financial 5tatemenls. The budgeted income expenditure is sufficient with th8 level of r8seTve5 for the Gharlty to be able to conlinue as a going cKJrKem. Dlsdosura •xemptlon• Thè charity has appll8d Update Bullelin 1 as publl$l)èd on 2 February 2016 arKI do8s nol includè a cash Ilow slatèmÈnl on th8 wounds thal it is applying FRS 102 Section 1A. Con501idatlon The enlity hes laken advantage of Ihe option not to prepare consolidated linancial stalemenls ontalned In Section 398 of the Companles Act 2006 on the basi$ thal Ihe enuty and Its subs#Ji8ry undertakings comprise a small group. 17 Cinemagic Limited Company Limited by Guarantee Notes to the Financial Stalements (¢QAtlnu•dJ Year ended 31 MarGh 2024 Arxountlng pollcios (¢onllnved) Judg•monts and k•y 8ourrA$ of •tstlmatlon unc8rtalnty The preparatlon of the finarKial slaternenls requires management to make 5udgemenls. estimates and a55urnptions that affeci Ihe amounls reported. These estimates and Judgements are conlinually reviewed and are based on experience and Dther factors, including expecialions of future events that are believed lo be reasonable under the circumstarKes. Fund accourtlng Unre8lrtcted funds are available for use al Ihè disuetion ol the trLlStees lo further any of Ihe hailty's purposes. De51gnated funds awe unrestricted funds earmarked by the trustee5 for parlicular fulure project or commltmerlt. Restficted funds are subjected to restriclM)n5 on Iheir expendilure declared by the donor or through the tem15 of an appeal. arKI fax nto one of two sub-classes: restricted income lunds or endowment funds. Incom5ng r•sour¢es All incDming resources are induded In the stalem8nl ￿ fln*cial activities when eTriiU8ment ha5 Passed to Iho Gharity, il is probabte that the aconomic benefits assoclated with thé Iransaction will flow to th8 charity and th8 afflount can b8 reliably masuied. Th8 following Specif￿ polici88 are appli8d to parliGU]ar categories of income- Incomo from donations or grants is recognised when there Is wdldence of en11￿ment to the grfl. ieceipl is Fyobable ts amowt can be maasured reliably. legacy income Is r6cognised when feceipl is probabb and entitlement eslabllshed, come fr(m donaled goods Is measlwed at the fair valje of the goods unless this IS #npractiral to measure reliably, In whlch Gase the value is derived from the c05t to lh8 donor or lh8 e511mal8d resale valué. Donaled facilit18S and 8BrviGes are réeognised ifi th6 accounls when réceived rf Ihe value Ixn be reliably mea5urod. No amwnts ara included for the contribution of general volunteer5. income from contracts for the suppty of service5 Is Tecognlsed with the dellvery of Ihe eontracted sarvice. This is classified as unrestfided funds ullless Ihere is a contractual requirement for it to be spent on a particular purpose and retumed if unspenL in which case it may be regarded as rpstricted. 18 Clnemagic Limited Company Limitèd by Guarantee Notes to the Flnancial Statements (coniinu•dJ Year ended 31 March 2024 Accountlng poll¢lfrs I¢0￿$ R080urce8 •xp•nded Expenditure Is recogni5ed an accruals basis a5 a liabillty15 Incurred, Expendilure Includes any VAT whlch cannot be fully recovered, and Is classified under headirNJ5 Of the statement of financial activities to which it ielate5- expendlture on raising funds indudes Ihe costs of all fundraising aclivities. events, non-cheAitatAe Ir&ling adivilies, and the sale of donated goods. expendlture on charliable activiti8s irKludes all ttjsts incurr8d by a charlty in undertaklng aclSvltlas Ihal furlher ils charltabl8 aims for Ihè b8n8rrt of Its b8neficiarièS, Including th088 support costs and costs relating io th8 govemancè of the charlty apportioned to charilabl8 acllvitl8S, other expendlture includes all expenrfiture that is neither rElaled to ralslng funds for the charity nor part of its expenditure on charitable activities. All costs are allocaled lo experKfilure calegories reflectlng the use of the resource. Dlrecl costs altrSbulable to a single activity are allocaled directly to that activity, Shared cosls aro apportioned between the a￿1VitieS they conlrlbule to on a reasonable, justifiable and consistent basis. Tanglblfr a8S•t8 Tanglble a55ets are initially recorded al cost. arKI subsequently stated at Gost les5 any accurnu18ted depreciation and Smpairment losses, Any tsrhgible assets carried at revalued. amounts are recorded at tho fair valuè at ihe date of revaluation leBs any subsequent accumulated d8precIati￿ and subsequenl accumulated inipairmenl losse5. An increase In the carrylng 8mwnt of an asset as a re5utt of a revaluat￿. L8 recognised in other recognised galns losses, unles5 k reverses a tharge for impairmenl thal has prewously been re¢ognised as expendtture within the stalèment of fknanclal activtties. A decreas8 in the ¢arrying amount of an asset as a re5Ldt of revaluation, is recognised in other iecognised gains and losses. except lo which it offsets any previou5 revaluation gain. In which case Ihe loss is shown wilhln other iecognlsed gains and 1055es on the statement of financFal activities. Depreciation Depreelalion Is calculated so as lo wrile oll th8 cosi ty vakjatlon ol an És88l, le88 Its residual value. ovér the useful économic li18 of Ihal ass8t as follows. Fixtures & fittlngs Equiprnent 25% reducing balance 25% stra￿1 line Invostm•nt8 Unllsi8d Èouity invèslments am initfjally iécord8d at CO8l. and Subsequ8n￿Y ff*asured at fair value. If falr value cannot bé rèllabty measured, assèts ale m8asur8d at cosl lèss MnpairmènL Llsted investrnents are measLwed at fair Val￿ wilh changes In falr value belng recogn15ed In income or expenditure. 19 Cinemagic Limited Company Limited by Guarantee Notes lo the Financial Statemants (condipu•dl Year ended 31 MarGh 2024 AccountSng policies (Goniln¥edJ Impalmiont ol fix•d ass•ts A revlew for irMlicatot5 of Impairment is carried out al each reporting date. wlth the reGoverable amount being esumated ¥there such indicators exist, Where the carrying value exceed5 the recoverable amoLmt, the a55et is impalred accordingly. Prior impairments ar8 also reviewed for possible T8ver5al at each reportlng date. For the purposes of impalrment lestir￿. wfien 11 is not PQSSbble io estimale the recoverable amoLJnt of an individual asset, an estimale Is rnade of Ihe recoverable amount ol the cash-generating unit lo which the a55et belongs. The ca5h-generating unit 15 the smallest IdenlrfSable group of assets that includes the asset arbd generates ￿$h inflow5 thal largely Independent of the cash inflows from other assets or g¥oups of assets. For impairrnenl testing of goodwill, the goodwlll acquired In a business comblnatlon Is, from acqulsition dale. allocated lo each of Ihe cash-generating units that are expected to benelit from the synergies ol the comblnation. ifrespectNe ol whether other assets or liabililies of the charity are assigneil to those units. Flnanclal lrtstrurnents A financial asset or a financlal fiabllity Is recognisad OTty when the charlty becomas a party to the Gontractual provislons ol th8 Instrument. Ba5iG fingncial Instruments are IruliaNy recogTrised 8t the amount recelvable (x payable Indudlng 9ny relaled Iransaction costs. Curr8At a886is and ¢uftent liabilit￿ 8ubsequenlly mea8ur8d at the cash or other consideration expé¢t6d to be paid or f8ceived and not discO￿lad. Oebt instruments are subsequently measured at an￿rtISed cosL whe￿ inveslmenls kn shares are publidy Iraded (* their fair value can othenvi5e be measured reliably. the investment is subsequenlly measured at fair value wth Changes in fair value recognised In income and expendilure. All other SLth investmeDIs are subsequentty measured at Cost less impaimient. Ol￿r financial Instruments, inclLhling d8rivaliv8s, are InlLially recognised al laif value, unlèss paym8nl knr an asset Is dÈlérred bèyond normal business t8ms or fiftanced at a rale of thl8resl Ihal Is nol a ma￿81 ralÈ, In which tA88 Iho assat is méasured at thè pres8nt value of lh& f￿1￿1@ payments dlscounted at a m8rkel rate ol inleresi fcfj 8 sknllar debt InStrUm￿t. Othèr financlal instrumèrts are sub58quentty measuréd at falr Va￿&, Vlith arty chanoes recognised in the stalem8nt of fin￿l¥al activilies, with the exC0ptk￿ of hedglng Instrumènts In designated hedging relauonship. Financipl assets that are measured at cost ￿ aM(￿lISed cost ￿ reviewed for objective evidence of wnpairmenl at the end of each repwting date. If there is obieclive evidence of impairment, an Impairmer)t loss is recognised Lmder the appr￿ale headlng in the statemeni of financlal activities in which Ihe Inllial ￿1n was re￿gnIsed. 20 Cinemagic Limited Company Limit•d by Guarantee Notes to the Financlal Statements (eoAllnv•dl Year ended 31 March 2024 Accountlng pollcles (wbdnu¢dJ FSnanclal In$trum•nts Iwntinuvdj For all eq￿tY Ir151rurnents regardles5 of shJnificance. and other financial assets that are Individually signifi¢anl. ihese are assessed Individually for impairment. Other financial assets Ither a55essed individually or grouped on the basis ol similar cr8dit risk characteristics. Any reversals of Impaimienl are recognlsed immediatety, to the extent Ihat the reversal ￿e5 not resull in a carrylng amount of the finaDcial asset th* exceeds what the carrying amour)t would have been had the impairment not prev￿usIY been recognised. D•fln•d ¢oiitrfbutlon plans ContribLJtions to delkned Gontribution plan5 are reco￿lSed as an expense in the period in which Ihè relatéd servlcè is provlded. Prep8id contribulions are reC￿l5Éd as an a55Èt lo the exteht that the prepayment will lead to a reduciton in future payments OT a cash rBfund. WheTr Gontribution5 are not expected to be settled wholly whhin 12 rnonlhs of Ihe end of Ihe reporting date in which the employees render the related SerY￿e. Ihe liability is measured on a dlscounted present value basis. The unwinding of the discount Is recognthl as an expense in Ihe period In which it arises. Llmlted by guarant Cinemagic Limlted wa8 reglslered on 15 January 1998 as a compary ￿miled by guarantee, not having a share Gapilal. The liabllily of each m6mb8r is limited lo an athounl not exceeding £1. It is al8ts a charity regislared with HM Revenuè & Cust(xns. Donations and l•gacies Rg8trided Total Funds Funds 2024 Reslricled Toial Funds Funds 2023 Granls Grants receivable S69,126 569,126 6￿.089 600.089 Olher tradlng aGtlvlties Unrestricted Total Funds Unwestricted Total Fund3 Furxts 2024 Funds 2023 Box office irbcome 40.238 40,238 30.115 30.115 21 Cinemagic Limited Company Limlted by Guarante• Notes to the FlnaTrcial Statements (eDnrfnv￿ Year ended 31 March 2024 Costs of raislng donalions and legacios Unreslrfcted Funds Restrfcled Totsl Funds Funds 2024 Dlrecl cost of aclivities Wages and salarl8S Employerfs NIC Pension costs Rent Rales & water L￿ht & heat Repairs & mainlengnce Insurance Travel costs Accountancy fees Telephone Qffice costs Depreciation Cleaning 264.113 234.694 19.693 4.568 12.720 364 4.307 264,113 234,694 19,693 4,568 12,720 364 4,307 360 6,441 11,738 11,250 13,653 14,651 1,287 2,466 360 6.441 11.738 11.25 10.612 11.388 1.287 2.466 3.041 3.263 37,363 564,942 602.305 Unrestricl8d Funds Restrlcl8d Total Funds Funds 2023 Dlrect cost of activilies Wages and salaries Employer's NIC Pension cosls Rent Rate8 & water Light & heat Repairs & maintenance Insurance Travel costs Account8ncy fees Telephone Office cosls Depreciatson 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 e,013 11.656 10.680 12.387 21.907 1,338 2.200 934 6.013 11.656 4.357 12.387 21.907 6.323 1.338 2.200 10,795 595.771 608,566 Cinemagic Limited Company Limlted by Guarant•• Notes to tho Financial Stalements (Conl1￿￿￿) Year ended 31 March 2024 Expendlture on charllable activities by fund type UM8strtcled Funds R•strlcted T¢)tal Funds Funds 2024 Support cx>sls 667 4.3Z1 4,988 Unrestricled Funds Restricled Tot4 FLmd8 FL¢nd$ 2023 Support costs 4.318 5.302 Expendiiure on charltable activliles tsy acllvlty typg Support Total furtd8 costs 2024 Total fund 2023 Govérnance c08l8 4.988 4,988 5,302 10, Nel Incom• Net income Is slated afler tharglry1(uedltlr￿). 2024 2023 DepreGlation ol laffjible fixed assets 1,287 1,338 11. AudltrM8 r•muneratlon 2024 2023 Fees payable for the audlt (rf the ffinancial statements 4,320 4.320 12. Staff costs The total staff costs and employee beneffts for the reportlng pe￿d are anelysed as follows: 2024 2023 Wages and salaries Social security costs Employer contr*but￿n$ to pension p￿5 234,694 19,693 4.568 258,955 236.593 22.825 4.870 264,288 Thè average head ￿int of employees during lh8 yèar was 6 (2023: 6). Th8 average ntsmbè¢ of lull-time equivalent •mpk>yees duri￿4 Ihe year is anatysed as lollows.. 2024 2023 No. Numb8r ol staff 23 Cinemagic Limited Company Limlted by Guarantee Notes lo the Flnancial Statements (conltnu•dJ Year ended 31 March 2024 12. Stsff costs fcontlmied) Th6 number of employees whose remLAfteralion for the yew fell withln th& lollowing bands, were.. 2024 2023 No. NO. £70.000 10 £79,999 13. Trustee remuneratlon and expèn8eS No remunèration or olhÈr bÈnefils fft)m 8mploymènt wlth th8 charity or a relaléd enlity wère recelved by th8 truSteÈ8. 14. Tangibk fixed assets Fixtures and fjitlngs Equipmenl Total Cost Al 1 Aprl 2023 Addlllons Disposals At 31 March 2024 13.837 73.699 1.984 (67,9861 7,697 87,536 1,984 (67,986) 21,534 13,837 D•pr•clatlon Al 1 April 2023 Charge for the ygar Disposals At 31 March 2024 13.837 70.672 1.287 (67.9B6} 3,973 84,509 1,287 167,986) 17,810 13,837 Canylng amount At 31 MaKh 2024 3.724 3,724 3.027 At 31 March 2023 3.027 24 Cinemagic Limited Company Limlted by Guarant•e Notes to the Flnancial Slatements (contlnu•dJ Year ended 31 March 2024 15. Invoslm?nl Shar08 In group undertaklng Cost or valuallon At 1 Aprll 2023 and 31 March 2024 ImpalrmeTrt At 1 April 2023 and 31 March 2024 Carrylng amouni At 31 March 2024 100 100 Al 31 Klarch 2023 100 All ￿Vestr￿entS shown above are held at valuatK)n. 16. Debtors 2024 2023 Amounis owed by aroup undertakin08 Prepayrnenis and accrued Income Grants receivable Other debtors 121.114 24.769 87.176 2,500 235,559 143,563 5,472 65,573 2,500 217,108 17. Credltors: amounts falling due within one year 2024 2023 Bank loans and overdrafts Trade credilors Accruals and deferred Inco Soclal security arKI other taxes Credil card Other credilors 38 1 S,675 88,559 7,895 8,480 787 38 27.411 90.509 26.098 2,632 1,303 121.434 147,991 25 Cinemagic Limited Company Limited by Guarantee Notes lo the Flnancial Statements (witfnu•dJ Year ended 31 MarGh 2024 18. Daferred In¢omo 2024 2023 At 1 Aprl 2023 Amount released to income Amount (lelerred in year At 31 March 2024 60,B37 160,837) 57,500 57,500 69,159 (63.822) 55,500 60.837 19. Penslon5 and other post retlrement beneflts Defin•d ¢ontrlbution plan¥ The amount recognised *) incon* or eXp￿dit￿re as an 8xpensè In relation lo dèfin8d Cx)ntrlbulion plans was £4,568 (2023: £4,870). 20. Analy515 of charltable funds Unrestricted funds At Ir￿orne Exp8ndllurè 31 March 24 A11W1123 Gen8ral funds 85,331 40.238 (38,030) 87,539 At Ir￿rne Expendllure 31 March 23 Ai 1 April 22 General funds 66,995 30.115 (11,7791 85,331 Fund descripllons Restricled funds are amounts lo be used for specrfEd purposes as lald down by the donor. Expenditure which rneels these criteria is charged to the fund togelher with a fair allocation of overhead and support costs. The trustees have no conlrd over these ftjnds olher than ensuring Ihey are spent for Ihe purposes intended by the dOn￿S and thereloie no target level has been set. Unreslrfcléd funds ar8 fré8ty av8Habl8 lo sp*)d en any of the charlly's puoos•s, Cinemaglc Limited Company Limited by Guarantee Notes to the Financial Statements (¢oAtlnu•dJ Year ended 31 March 2024 20. Analysls of charitabl¢ funds (¢ontlthKdl Rostrfct•d funds At Income Exp6nditur8 31 March 24 Ai 1 April 23 Reslrlcled Fund 100.864 569.126 1569.263) 100,727 Al Income Expendilure 31 March 23 At 1 April 22 Restri¢led Fund 100,86S 61x1.089 {600,089) 100.865 21. Analysls ol n•t a$$•ts between funds Urw8stricl8d Funds Réstdcle¢J Total Fund$ Funds 2024 Tanglble fixed assets lrnvestments Currenl assels Credilors less than l year 3.724 3,724 100 100 218.337 305,876 {121.434) (121,434) 100,727 188,266 87.539 Nel assets 87.539 UntestTicied Fund5 Restricted Total Funds Funds 2023 Tangible fixed assets Investments Current assels Creditors less Ihan 1 year Not assrfs 3.027 3,027 100 100 245.729 331,060 {147,991) 1147,991) 100.865 186.196 85.331 85.331 27