Ch¥rlty Reglstration No. SC041374 Iscorfandl HODA PRODUCTIONS LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 HODA PRODUCTIONS LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Thrsteej Secrnlary Charity nurnbgr (Scotlandl SC041374 Registered office 23 St Leonard's Bank Edinburgh EH8 9SQ Ind•p•nd¢ntexaminer McFadden Associates Limilod 19 Rulland Square Edinburgh EH12BB HODA PRODUCTIONS LIMITED CONTENTS Page Trustees, report Independent examinerfs report Statement of ffnancial activiti'es Balance sheet Notès to the financial stalernents HODA PRODUCTIONS LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2024 Th& Trustees present Ihelr Teport and accounts for the year ended 310ecember 2024. The financAal statements have been prepared in accordan￿ with the accounting poliaes set out in note 1 to the financial statements and comply with the charity's articles ol association. the Charrties and Trustee Investment Iscouandl Act 2005, thè ChaiilFes A(xount5 {Scotlandl Regulations 2006 las amandgd} and "Accounting and Reporting by Charrties.. Slalemenl of Recommended Practice applicable to charities preparing their aecA)unts in ac¢ordanGe with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. la5 amended for a￿Oun￿ng periods cornrnenciro from 1 January 2019) Objectives and a¢tiviti•s The Companys main charitable obJectNe is lal the advancement ol Ihe arts and culture. by their protnolion. irnptovement and encouragement cluding the arts of musie, film l animatK)n. digital art. installation art dance and puppety. Ibl the advancement of educallon. Financial review Sonic MnernoDIG= We 3ucce5sfully ran a crowdfunding campaign to facilitate anima*"onlmuslc workshops wrth young Ukrainian ¢hildr¢n followed by a screening at Ukrainian Culture Centre in July during the Summer Holidays. Wo applied foi funding lo conts.nua this programme but our applicalion prov9d unsu¢cg6sful. The overall reseNes are low.. however, the Company h85 very few core cost3 and employs no permanenl staff. The level of r8S8rv8s boing carried will be raviewed as the CoMp￿Y develops. The Trusteès have assessed the maloi risks to which the charity is exposed. and are sallsfled thal systerrs are In pkce lo miligale exposure to the major risks. Struetlifoi 9ovorn#n¢g and managem•fftt d during the year were.. Tru51ee￿B0ard members have been reuuiled ￿ tha basis of thèir knowledge and &KPOrien¢g and have a rang8 of back grounds.. usician and composer rts Consultan1 lappl May 2016} ManagementAccounlant. ￿rrenlY workn'ng for Calm Energy pl¢ {appt June 2015} rilerEditor (appt May 20181 The Chief Executive of Hoda Produ¢tion5 is ￿WhO is rwonsible for the day-to-day running of the Cornpany.. this Is done in conjunction with freelance support as required. As the Company's work is project- based, he is not permanently employed to manage the company. Howevei, to dale there ha5 been very lrtlle adrninistiation involved in running the company as 8 whole, Olher Ihan ensurlng that fin8naal and other record5 are appropriately kept. Trusteès l Board mèmbèrs overseè thè main deaS￿n$ in terms ofwhich Projects are undertaken and the general direction of the Gornpany. They are also responsible lor overall financial management. This is prlnclpally done at present through Board meetings. AS Ihe Company becc*res more o¢tive and tumover increase8, the Board will review both ts govemance role and its structur8. HODA PRODUCTIONS LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees, report was approv8d by the Board of Tru51ees. HODA PRODUCTIONS LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HODA PRODUCTIONS LIMITED I report on the financial statements of the charity for the year etKlgd 31 December 2024. whlch are sol out on pages 4 to 9. R•8p•¢tivo responsibilllies ol TNstees and •xamlner The charity's Trustees, who are also the directors of Hoda Productions Limf(ed for the purposes ol company law, are responsible for thé PTÈparation of the financial slalernenls in accordance with Ihe lerrns of the Charities and Trustee Inve51rnenls (Scollandl Act 2005 and Ihe Charits'es Accounts (Scotlandl Regulations 2006. The Tfustees collsider that the audit requirement ol Regulation 10{1llal to Icl of the 2006 Accounts Regulations does not apply. It is rny r8sponsibility to examine the finanaal statem&nts as rgquirad und&r section 44{1llcl of th8 Act and lo state whether particular maiters have coma to my attentk)n. Basis of independent examinerfs statemènt My exarnination is carried out in acLordance with Regulatii)n 11 of the 2006 Accounts RegUlat￿nS. An examination includes a review of the accounting records kept by the charty and a comparison of the financial stalernenls Pfasented with those records. It also includas COn￿deratIon of any unusual itèms ￿ disclosurès in tha financial statements, and seeks explanations from the tILrstÈès concerning any such matters The piocedures undertaken do not prowde all Ihe evidence that woukl be requbied in an audit and ￿nseQuent1Y I do not express an audit opinion on the wew givèn by the finan¢i81 $18lements. Inthpond¢rt oxaminerfs ¥tatement In Connection with rny exsminalion, no matter has come lo my attention.. {al which gives me reasonable cause to believe that in any material respect the requifements". l)1 lo keep accounting records in accordance with section 44(1) lal of tho 2005 Act and Rewlai¢on 4 of the 2006 Accounts Regulations., and lill to prèpare financial stslèmenls which a¢¢ord with Ihe act￿untIng record5 and comply wilh Regulation 8 ofthe 2006 Accounts Regulation5', have not been mel or Ibl lo which, in my opinion. attention should be drawn In order lo enable a propel understaTiding of the HODA PRODUCTIONS LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Incom Charitable activities 26 1,936 enditure on: Charitabla acti￿lIeS 132 2,537 Net ?xpenditure for th• yearl Not movement in funds {104) 16011 Fund balances at 1 January 2024 1,423 2,024 Fund balancts at 31 Dècember 2024 1.319 1.423 The slalemenl of financial activities indudes all gains and losses recognised Sn the year. All income and expenditure derive from continuing a¢tiMlies. HODA PRODUCTIONS LIMITED BALANCE SHEET AS AT31 DECEMBER 2024 2024 2023 Notes Currnnt a¥8ets Cash at bank and in hand 1,559 1,663 Cr•ditor¥: amounts falling due wlthln year (2401 1240) Net current as￿tS 1.319 1,423 Incomè funds UnreStr￿ted ftjnds 1,319 1,423 1,319 1,423 The company Ss entllled lo the exemption from tha audrt requirement ￿ntained Sn sectoon 477 of the Gompanies Act 2006. for the yeai ended 31 December 2024. The Trustees acknowledge their responsibilities lor ensuring that the charity keeps accounting records which comply with section 386 of the Act and lor preparing financtal slalemenls which give a tru6 and fair wow of the statè of affairs of the company as al the end of the financial year and of ils incoming resources and application of resources, including ils in¢ome and expenditure, for the finanaal year in acwrdanTr with the requiiemenls of seciiorns 394 and 395 and which othe￿iSe comply with the requirements of the Companies Act 20[￿ relating to finanu81 statèmènts, $0 far as applicable lo the company. The members have not requKed thg cunpany to obtain an audit of tts financial slalemenls for the yoar in question accordance with section 478. Thesè financial statements have been piepared in ac£ordance with the provislons applicable lo compan6es subject to the small ¢ornpanie5 regime. The financial statements were approved by the Trustee5 on 11 Seplernb8r 2025 HODA PRODUCTIONS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies Charity Inf0m￿l￿on Hoda Productions Limited is a private company limitèd by guarantee in¢orpoialed in ScoUand. The registered office is 23 St Leonard's Bank, Edinburgh, EH8 9SQ. 1.1 Accounting convention The financial statements havè been prèpafèd in accordance with the charity'5 Igoverning documentl, the Charities and Trustee Investmènt (S￿118nd1 Act 2005. the Charities Accounts Iscodandl Regulations 2C4)6 las amènded) and "A¢¢ounling and Reporting by Charrties.. Statement of Recommended Practice applicable to charities prepa￿ng their accounts in accordance with the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland IFRS 102} (effective 1 January 20191" The charity is a Public Benefrt Entity as defined by FRS 102. The charity has taken advantage ofthe prowsions in the SORP foi ¢haithes applying FRS 102 Update Bullelin 1 not to prepare a Statement of Cash Flows. The financial slalements are pfepared in sterling, which is the functional currency of Ihe charty. Monelary amounts in these financial slalemenls are rounded to the nearest £. The financial slalemenls have been prepared under the histori￿1 ￿$t convention. modified to indude Ihe revaluation of freehold properties and to include investment p￿pert￿e5 and certsin ffin8ncial instruments at fair value. The principal accounting poli¢igs adoplgd are sel below. 12 Going conc8m At the time ol approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources lo continue in operational existen￿ for the foreseeable lulure. Thus the TTuslees continue to adopt the going concèrn basis of a¢counling in preparing the financial statements. 1.3 Charitablo funds Unrestricted fund5 are available for use at the discretion of Ihe Trustees Sn fvrtherance of their charitable objectives. Re8lrided fund5 are subject lo specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes lo the financial statements. Endowment funds are subject lo specific condiiions by donors that the capStal must be malntalned by the charity. 1.4 I￿oMe Income is recognised when the ¢harty Is legally entitled to il after any perfomiance conditi'ons have been met, the amounts can be rneasured reliably, and It is probable that income will be received. Cash donations are recognised on recelpl. Other donations are recognised once the charity has been notified of thè donation, unless perfortnance conditions require deferral of the amount. Income tax recoverable in relallon lo donations received under Gift or deeds of covenant is recognised at the time of the donation. Legaryes are recognised on receipt or otherwise if the charity has baan notif￿d of an impending dislrlbution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treatèd as a contingent asset. HODA PRODUCTIONS LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting polici Icontinuedl 1.6 Exp¢nditurg Expenditure Is recogntsed when a liabilTty 15 incurred. Charitable actiwlies indude expendrture assooated with the staging of prodtJclron3 and indude both direct and 511PPOrt cosls relating to these activities. Governance costs indude those incur￿￿ in the governance of the charity and its assets and are primarity associated with constitutional and slatulory requirernenl5. Support costs indude Central functions and have been allocated to the charitable actiwty on a b8si$ consistent with their use. 1.6 Cash and cash •qulvalents Cash and cash equivalents include cash in hand. deposits held al call with banks, other short-temi liquid inve51menls with original maturits'6s of thiaé months or1&55, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. Basic financial asset Basic financial assets, which includè dèbtors and cash and bank balances. are inthally measured at Iransaction price including transaction costs and are subsequentty carried at amortised cost using the effective interest method unless the atrangemenl constitutes a financing transaction, where the transaction is measured at Ihe present value of the future receipts discounted at a market rate of interasL Financial assèts dassifjed as receivable within one year are not amortised. Basi¢ financialliabilities Basic financial Itabilities, including creditors and bank loans are initialty recognisad at traftsaetion piice unless the arrangement conslrtules 8 financing transaction, where the debt instrument is MÈa$U￿d at the present value of the future payments discounted at a market rate of interest Financial liabilities classified a5 payable within one year are not amortised. Oebl in51ruwts are subsequently carri&d at amortisèd cost. usin9 the effective interest rale method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are da5sified as current liabilities if payment is due within onè year or less. 11 not, they are pre$enled as non-current liabilities. Trade creditors are recognised initialty at transaction pricè and subsèquently measured al amortised cost using the effective interest melh¢xl. DeTrcognhion oifinanoial Ilabilltses Finanaal liabilities a￿ dere¢ognised when the charity's c£Jntractual obligations expire or are distharged or cane81W. ritical accountlng ostlmat•s and ludgemonts In the application of the charty's a¢¢ounling pc4ioes, the Trustees are required to make judgements. estimates and assumptions about the carrying amount of assets and liabilities that are not rèadily apparent from other sourcès. The estimates and associated assumptions are based on historical expérience and other f8dois that are considered to be relevant. Actual results may drffer from these estimates. The estimates and underlying assumptions are rewewed on an ong¢yng basi5. Rewsions lo accounting eslimales are recognised in the period in which the esty'mate is revised where the revision affeds only that period, or in the perk)d of the revision and fuluie periods where the revision affects both current and future period$. HODA PRODUCTIONS LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Charitsblè aetiviti•s Fees 2024 Fees 2023 Royalties 28 1,936 charItab￿ a¢tivilie¥ Educatlon Edueatlon and Artistic and Artistic acUvTrtl•s •ettvltle$ 2024 2023 Fees 2.387 Share of govemanc£ costs (sea note 51 132 150 132 2,537 Support ¢(vJts Support Govemance ¢08ts costs 2024Support costs Gov6rnan¢e costs 2023 Accountancy 132 132 150 150 132 132 150 150 Analysed befvleen Charitable activities 132 132 150 150 Trustses None of the Trustees lor any persons connected with them) received any remuneration or benefjls from the charity during the year. EnwloyeeB There were no employoes durlng the ye8r. HODA PRODUCTIONS LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Croditors.. amounts falllng du• w1th5n on• yo•r 2024 2023 Accruals and deferred income 240 240 Relatod party transactlons The￿ wgrg no disdosable felaled party Iran8action5 during the year (2023- none).