Registration number N1020328 Foyle Film Projects Limited (Company Ilmlted by guarantee) Directors, report and financlal statements for the year ondod 31 March 2023
Foylc Film Projects Limited Company liniited by guarantee Contont$ Page Directors and otlier inforiiiatioii Dircctors, report Indepcndenl Exaininers, report Stateineiit of financial Activities Stateiiient of Financial Position Notes to tlie financial statements 8-12
Foyle Film Projects Limited Company limited by guarantee Company information Directors P¢arse Moore Martin Melarkey John McGowan Secretary Pearse Moore Charlty nunibgr NIC103704 Company number N1020328 Registered office 718 Magazine Street Derry BT48 6HJ Accountants McGroarty Mccafferty & Company Ltd Accountants & Tax Consultaiits 2 Carlisle Terrace D¢rry BT48 6JX Busines5 address The Nerve Centre 718 Magazine Street Derry BT48 6HJ Bankcrs Ulster Bank Da Vinci Complex Culmor¢ Road Derry BT48 8JB Page I
Foyle Film Projects Limited Company limited by guarantee Directors, report for the year ended 31 March 2023 Tlie directors present tl)eir report and tlie financial statements for tlie year ended 31 March 2023. Principal actlvlty Tlie principal activity of tlie charitable company is tliat of film production and training. Directors Tlie directors wlio served during tlie year are as stated below, Pearse Moore Jolin McGowan Martin Melarkey Directors responsibllltles Tlie directors of Foyle Film Projects Limited for the purposes of company law are responsible for preparing tlie Directors, AIiiiual Report and the financial stateinents in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Gencrally Accepted Accounting Practice). Company law requires the directors to prepare financial stateinents for each financial year, which give a true and fair view of Ilie state of affairs of the charitable company and of the incoIning resources and application of resources, includiiig the income and expenditure, of the charitable coinpany for that period. In preparing tlies¢ financial stc2teiiients, tlie directors are required to: sele¢t suitable accounting policies and then apply them consistently; observe tli¢ In¢thod5 and principles in the Charities SORP (FRS 102); make judgements aiid estiinatcs tliat are reasonable and prudent. state whetl)er applicable UK Accounting Standards have been followed, subject to any material departure5 disclosed and explaiiied in the financial statements prcpare the fiiiancial statements on the going concern basis unless it is inappropriate to presume that the cliaritable company will Continue in operation. Tlie directors are responsible for keeping adcquate accounting records that disclose witli reasonable accuracy at aiiy tiiiie tl)e financial positioii of the charitable company and enable them to ensu that tlie financial stateinents coixply witli the Compai)ies Act 2006. They are also responsible for safeguarding the assets of the charitable coinpany aiid hence for takiiig reasonable steps for the prevention and detection of fraud and other irregularitics. In so far as the directors are aware.. tliere is no relevant infomiation of which the charitable company's independent examiner is unaware; and Ilie directors have taken all steps that they ouglit to liave taken to make themselves aware of any relevant infonnation and to establish that tlie independent examiner is aware of that infomiation. Page 2
Foyle Film Projects Limited Company Iimited by guarantee Directors, report for the year ended 31 March 2023 continued This report is prepared in accordance with tlie special provisions of part 15 of th¢ Companies Act 2006 relating to sinall companies. This report was approvcd and authorised for issue by the Board on 8 December 2023 and signed on its behalf by Dlrector Dlrector Page 3
Foyle Film Projects Limited Company limited by guarantee Independent examiner's report on the unaudited financial statements to the directors of Foyle Film Projects Lin)ited We report on tlie accouiits of tli¢ company for the year ended 3 l Marcli 2023, whicli are set out on pages 5 to I l. Respeetive responslbllities of charlty dlrectors and exRmlner' As the charity directors you are responsible for tlie preparation of tlie accounts in accordance with tlie requirements of the Companies Act 2006. Having satisfied myself that the cliarity is not subject to audit uiider company law, and is eligible for iiidependent exainination, it is my responsibility to. examine the accounts under section 65 of the Cliarities Act 2008. follow tlie procediires laid down IVA th¢ general dire¢tioThs gjven by the Cliarity Commission for Norlliem ITelaiid under section 65(9)(b) of tlie Cl)arities Act 2008. state wlietlier particular matters have come to our attention. Basls of independent exftminer's report We have examined your cliarity accounts as reqiiired under section 65 of the Charities Act aiid our examination was carried out in accordance with the general directions given by the Charity Commission for Nortliem Ireland uiider Section 65(9){b) of tlie Cliarities Act. Tli¢ examination included a review of the accounting records k'ept by tlie charity and a comparison of the accounts presented with those records. It also included a consideration of any unusual itein5 or disclosures in the accounts, and seeking explanations from you as charity directors concerning any such matters, Our role is to state whether aIiy material matters have come to our attention giving us cause to believe: that accounting records were not kept in accordance with section 386 of the Companies Act 2006. tliat the accounts do iiot accord witli those accounting records. that tlie accounts do not comply witli the accounting requiremeiits of tlie Section 396 of tlie Coinpanies Act 2006 and the methods and principles of tlie Cliarities Stateinent of Recommended Practice applicable to charities preparing their accounts in accordance witli the Finaiicial Reporting Standard applicabl¢ in the UK and Republic of Irelaiid. that tliere is further infonnation needed for proper understaiiding, Independent examlner's statement We Iiave completed my examination and have no concerns in respect of the matters listed above and, in connectioii with the following directions of the Charity Commission for Northern Ireland, we liave found no matters that require drawing to your attention. IUL McGroarty M afferty & C Ipany Ltd Accountants & Tax Consultants 2 Carllsle Terrace Derry BT48 6JX Date: 8 December 2023 Page 4
Foyle Film Project5 Limited Company limited by guarantee Statement of Financial Activities for the Year Ended 31 March 2023 Total Funds 2023 Total Funds 2022 Unrestricted Funds Restricted Funds Income and Expenditure Incoming resources froin cliaritable activities 1,614 1,614 50,818 Tot#1 Incoming Rcsourcos 1,614 1,614 50,818 Resources Ei xpended Manageiiieiit & Adininistration 33 25,871 25,904 15,849 Total Resources Expended 33 25,871 25,904 15.849 Net Incoming l (Outgolng) Resources 1,581 (25,871) (24,290) 34.969 Balaiiccs brouglit forward l April 2022 192,019 553,623 745,642 710,673 193,600 527,752 721,352 745.642 Transfer between funds Balaiices carried forward 31 March 2023 193,600 527,752 721,352 745,642 The above amounts relate to continuing operatioi)s of the charity. Tlie cliarity has no recognised Lrains and losses otlier than those included in tlie results above and therefore no separate stateineiit of total recognised gains and losses has been presented. There is no difference betwe¢n the net incoming resoiirces for tlie period stated above and their liistorical cost equivalents. Page 5
Foyle Film Projects Limited Company limited by guarantee Balance sheet as at 31 March 2023 2023 2022 Notc$ Fixed assets Tangible assets 91,000 91,000 Current assots Debtors Casli at baiik and iii hand 1,080 631,132 104,200 551,402 632,212 655,602 Creditors: amounts falling duo Ivithin one year Net current asset5 (1,860) (960) 630,352 654,642 Tot#1 assets less current lillbilities 721,352 745,642 Net Assets 721,352 745,642 Funds Unrestricled Restri¢t¢d 193.600 527,752 192,019 553,623 Funds 721,352 745,642 The notes on pages 8 to 12 form an integral part of these financial statements. Page 6
Foyle Film Projects Limited Company limited by guaranÉee Balance sheet (continued) In approving these financial statements as directors of the company we hereby confinn: The compaiiy was entitled to exeinption from audit under s477 of tlie Coinpaiiies Act 2006 relating to small coiiipanies. The members liave not required tlie compaiiy to obtain an audit in accordance with section 476 of the Companies Act 2006. Tlie directors ackiiowledge tlieir responsibilities for complying with tl)e requireinents of tlie Companies Act 2006 witli respect to accounting records and preparation of accounts. Tliese accounts have beeii prepared in accordance with the provisions applicable to small companies subject to sinall compaiiies regime in accordance with FRS102 SORP. Dircctor Dirtctor Date . 8 Deccmber 2023 Date . 8 December 2023 Registratfion number N1020328 The notes on pages 8 to 12 form an integral part of these financial statements. Page 7
Foyle Film Projects Limited Company limited by guarantee Notes to the financial statements for the year ended 31 March 2023 Accounting policies The principal accounting policies adopted in tlie preparation of the financial statements are set out below and liave remained unchanged from the previous year, and also have been consistently applied within tlie saill accounts. Aeeounting convention Tlie fiiiaiicial stateinents liave been prepared in accordance with Accounting and Reporting by Charities: Statement of Recoinmended Practice applicable to cliarities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland Charities SORP(FRS 102), tlie Fiiiaiicial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Companies Act 2006 aiid Cliarities Act (Northern Ireland) 2008. Incoming resources (i) Grants Grants represent all amounts received and receivable during the year. Revenue grants are credited to the Statement of Finaiicial Activities in the year they are received. (li) Sundry Iiicoill¢ Tliis coinprised aiiiounts received during tlie year. 1.3 Resources expended (i) Direct Cliaritable Expcnditure Tliis represents all expenditure directly attributable to charitable causes. (li) Management & Administration Tliis includes all otlier expenditure iiot directly allocated above and a portion of the overhead cost attributable to management and administration. Page 8
FoyIe Film Projects Limited Company limited by guarantee Notes to the financial statcmcnts for the year ended 31 March 2023 continued 1.4 Tangiblc fixed assets and depreciation Tangible fixcd setS are stated at cost less depreciation. Depreciation is provided at rates calculated to write off tlie cost less residual value of each asset over its eNpe¢ted useful life, as follows: Land and buildiiigs O % Straiglit line Unr¢stri¢ted Re$tri¢ted Income Incomc 2023 2023 Total Funds 2023 Total Funds 2022 Incoming Resources Volunta Sales Partner payincnts Bank interest received Incnnie 10.781 40,000 37 1,614 1,614 1,614 1,614 50,818 (i) Restricted Funds Funds received whi¢h are ¢armarked by the Funder for specific purposes. Sucli purposes are witliiii tlie overall aiins of the organisation. (il) Unrcslrictcd Funds Fuiids wliicli are expendable at tlie discretion of the coinpany in furtherance of the aims of tlie cliarily. In additioii funds Inay be lield in order to finance capital investment and working capital. Page 9
Foyle Film Projects Limited Conipany limited by guarantee Notes to the financial statements for the year ended 31 March 2023 coiitinu¢d Resources Expended Unrestrlctcd Funds Restrlcted Funds Total 2023 Total 2022 Munagement & Administration Cainpsie Inanageinent fee Iiisurance Repairs & maintenance Production costs Accountancy fees Bad debls Bank cliarges 116 1,734 116 1,734 1,480 13,500 900 23,120 900 23,120 33 720 33 32 33 25,871 25,904 15,849 Land and buildings freehold Tangible fixed assets Total Cost At l April 2022 91,000 91,000 At 31 March 2023 91,000 91,000 Net book values At 31 Marcli 2023 91,000 91,000 At 31 Marcli 2022 91,000 91,000 Debtors 2023 2022 Debtors 1,080 104,200 1,080 104,200 Page 10
Foyle Film Projects Limited Company limited by guarantee Notes to the financial statements for the year ended 31 March 2023 Continued Crcdltors: amounts falling due witliin one year 2023 2022 Accruals 1,860 960 Related party transactlons Tliere were no related party transactions in tl)e period under review. Controlllng intorost The ultiinate control of tlie coinpany rests witli the board of directors. Company Ilmlted by guarantee The company is limited by guarantee and does not have a sliare capital. Page 11
Foyle Film Projects Limited Company limited by guarantee Notes to the financial statements for the year ended 31 March 2023 continued Movomcnts in Funds At At l April Incoming Outgolng 31 March 2022 resources resources 2023 Restricted funds: Reslricted funds: 553,623 (25,871) 527,752 Total restricted funds 553,623 (25,871) 527,752 Unrestrictcd funds: Unrestricted fuiids: 192,019 1,614 (33) 193,600 Total iinre5tricted funds 192,019 I,614 (33) 193,600 Total funds 745,642 1,614 (25,904) 721,352 Purposes of Rcstricted Funds Restricted graiils awarded to the cliarity are provided to cover tlie core objects as explained in directors report. Page 12