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← Alchemy Film and Arts

2025-06-30-accounts

Charity registration number: SC042142

Alchemy Film and Arts

for the Year Ended 30 June 2025

Document Ref: M96GJ-GGLZQ-DOVOX-WYQF7

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Alchemy Film and Arts

Contents (continued)

Reference and Administrative Details 1
Trustees' Report 2toS
Statement ofTrustees’ Responsibilities 6
Independent Examiner's Report 7
Statement ofFinancial Activities 8
Balance Sheet 9
NotestotheFinancialStatements 10to16

Dacument Ref: MS6GJ-GGLZQ-DOVOX-WYQF7,

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Reference and Administrative Details 7

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Alchemy Film and Arts

Charity Registration Number

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$C042142
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Principal Office Room 305 Heart of Hawick Kirkstile Hawick TD9 OAE

Independent Examiner a Bankers Co-operative Bank

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Alchemy Film and Arts

Trustees’ Report

The trustees present the annual report together with the financial statements of the charity for the year ended 30 June 2025.

Objectives and activities

Objects and aims

The principal objects of the company are:-

(a) To champion the development of the arts, predominantly but not exclusively, in the Scottish Borders and beyond. We aim to encourage the people of the Scottish Borders, in particular its young people, visitors to the region and its creative residents in high quality arts experiences, thus generating creative, cultural and economic benefit for the region. We aim to stimulate local talent, social and community cohesion, and engage people with the unique Borders landscape and heritage, thus enriching their quality of life, and in furtherance of those objects.

(b) To advance the arts, heritage, culture and science in the Scottish Borders, predominantly but not exclusively, particularly by the practice, knowledge, understanding and appreciation of visual arts, music, literature, performance, film and craft (herein after known as the arts) and not excluding other art forms as may be relevant.

(c) To advance education through the arts and to promote, maintain and improve education through the arts.

(d) To promote equality and diversity through the arts, and to increase the accessibility of the arts to the public throughout the region by providing facilities for the presentation and practice of the arts.

(e) Any other purpose that may reasonably be regarded as analogous to any of the preceding purposes.

Use of volunteers

The directors wish to record their appreciation of the time and efforts contributed by volunteer helpers who have worked extremely hard to ensure that the events have proceeded.

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Alchemy Film and Arts Trustees’ Report (continued)

Achievements and performance

Alchemy Film & Arts continues to go from strength to strength, and we have raced through this year with a renewed sense of confidence and purpose. No doubt, part of that energy comes from the fact that, halfway through our financial year, we received news that we are to receive core funding until 2028 as part of Creative Scotland's Multi-Year Funding portfolio, having joined its network of Regular Funded Organisations in 2018. From our substantial growth since then, it is clear what continuous and sustained cultural funding can achieve: deep community relationships, sustained creative contributions, and thriving shared cultural meaning-making that can contribute to wellbeing and social cohesion. Reaching the milestone of another clear period of sustained funding has allowed us to take stock of our consolidation of programme, team and resources; and to enhance and entrench our strategically intersecting programme that consists of Scotland's only film-specific residencies programme, an award-winning year-round skills development and creative learning programme, and our flagship annual event — the UK's festival of experimental film and artists’ moving image

Below, we outline some of the key achievements of this year: T would like to say that these in no small part have come to fruition due to the strategic clear-thinking of my fellow trustees and myself, but the truth of the matter is that these are only possible due to the incredibly competent and talented Team, including the supportive and brilliant Directors.

This year’s festival welcomed 97 industry delegates, screened 65 films across 14 screenings, nine exhibitions, five features and nine outcomes from our residencies and creative learning initiatives. It took place against ever-worsening global crises and unimaginable traumas of plunder, displacement and genocide — and was received positively by international press for framing and delivering its programme in this context. Within the indu it was ourSightFestival and Sound).was a “communitarianFor Art Monthly, gatheringAthat capturescl “thethe best compassion of what andfestivals carecan evidentoffer.”in the design a Pafestival...“TheAlchemy festivaldoes continuesweil totoevade be a partisanthe stereotypicalintervention...snobberyTo attendof the Alchemyfilm scene.”is to beFor immersedthe Skinny,in ways 0 seeing that unmake hegemonic truth and power — and to be urgently reacquainted with the necessary imagination and sense of possibility we need to think our way out of the mess.” We are humbled that the sector recognises the good work we do, and are proud that these reports appear to prove that we live up to our own expectations.

Also presented at this year’s festrval was y ing-image artworks that we produced this year, developed by our several artists-in-residence, includin whose We Deh Here explores Scotland's colonial residues in Guyan: o developed a new work -- On Weaving — that explores the legacies of textile design home on the River Tweed. On a related note, our researcher in residence urated a series of screenings and events exploring extraction and displacement within the context of enezuela. Tt has also been a pleasure to continue to work with our musician-in-residence [and former Alchemy ce carreromains. Miwa Is nowwith whenj o yingm wea successfulproduced andtour launchedfollowing Noren,Noren’sherlaunchdebutat ourrecord,Festival.and our first foray into 1 The Festival’s opening launch included two wildly successful manifestations of locally engaged projects spanning multipleand the town-wideyears: The laboursfirst beingthatRumsustainan Milk,the ancienta newtradition,feature-lengthdirecteddocumentaryby ae:focusing onsupportedHawick Commonby our NationalRiding Lottery Heritage Fund grant. We also opened the festival with 400 Hawick school pupils visiting exhibition, bringing to a conclusion another year of us partnering with Hawick's primary and high schools to test and evaluate a new film and screen curriculum developed by Screen Scotland and Education Scotland.

Other projects outside of our Festival include the activity we delivered as part of our commitment to local communities, including the design and production of a new videogame exploring living with neurodiversity in the Scottish Borders, made with Borders Additional Needs Group; a partnership with NHS Borders and After a Suicide Working Group, on a series of films designed to support people bereaved by suicide; and a new moving-image exhibition dealing with climate breakdown designed by participants of our monthly film club.

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Alchemy Film and Arts

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Trustees’ Report (continued)

Of course, the year began with the appointment of seven new Trusteeshis expansionDh of our Trustee cohort to includeernewernewnew voices M ScOuIsh ¢ if g & C ensure our governance is clear, diverse and guided by the anti-racist and inclusive values that are at the core of our work.

includeernewernewnew voices

Considering afl the above, I am confident we continue to be a respected organisation; and that our public facing work is engaging, novel and exciting; and that our internal management is consistent, clear and supportive. This ensures that we’re operating as a holistic partner in the world, and in specific, in Hawick. As included in the past two reports written —and fast becoming a strapline — our work is not just film and art: it’s lives and it’s communities.

Financial review

Income has decreased to £319,353 (2024: £398,902) during the year. Costs continued fo increase this year to £391,274 (2024: £362,294) giving us a deficit of £71,921 (2024 - £13,264 surplus).

Our reserves now stand at £149,757 of which £50,000 is unrestricted.

Policy on reserves

A small amount ofunrestricted funds are maintained to meet the running costs of the charity. The reserves policy will be reviewed as time progresses.

Fuads in deficit

No funds are in deficit.

Principalfunding sources

The principal funding has been from grants and donations as well as ticket and merchandising sales.

Going concern

The trustees consider that the charity is a going concern.

Structure, governance and management

Nature ofgoverning document

The company was a company limited by guarantee and was set up by a Memorandum of Association on 17 June 2013. On the 4 August 2017 the company converted to a SCIO, a Scottish Charitable Incorporated Organisation, governed by a revised constitution,

Recruitment and appointment oftrustees

The management of the organisation is the responsibility of the Trustees who are elected and co-opted under the terms of the new constitution.

Arrangements for setting key management personnel remuneration

Trustees are not remunerated for their services.

Organisational structire

The trustees meet on a quarterly basis to discuss the charity's affairs. All trustees participate in the decision-making process.

Funds held as custodian trustee on behalf of others No funds are held on behalfof other organisations.

Creditor payment policy

It is the policy to settle invoices within normal supplier credit terms.

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Alchemy Film and Arts

Trustees' Report (continued)

2026-01-30

The annual report was approved by the trustees of the charity on ................... and signed on its behalf by:

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Alchemy Film and Arts

Statement of Trustees' Responsibilities

The trustees are responsible for preparing the trustees report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.

The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Chatities and Trustee Investment (Scotland) Act 2005, the applicable Charities Accounts (Scotland) Regulations 2006, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities,

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

2026-01-30 Approved by the trustees of the charity on... and signed| on its behalf by:

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Alchemy Film and Arts

Independent Examiner's Report to the trustees of Alchemy Film and Arts

| report on the accounts of the charity for the year ended 30 June 2025 which are set out on pages 8 to 16.

Respective responsibilities of trustees and examiner

The trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006, The trustees consider that the audit requirement of Regulation 10(1)(d) of the 2006 Accounts Regulations does not apply. The charity's gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of ICAS. It is my responsibility to:

Basis of independent examiner’s report

My examination was carried out in accordance with Regulation 11 of the 2006 Accounts Regulations. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently I do not express an audit opinion on the view given by the accounts.

Independent examiner's statement In connection with my examination, no matter has come to my attention:

(1) which gives me reasonable cause to believe that in any material respect the requirements:

have not been met; or (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be - 7 ICAS : , SOA LA

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Alchemy Film and Arts

Statement of Financial Activities for the Year Ended 30 June 2025

Unrestricted Restricted Total
funds funds 2025
Note £ £ £
Income and Endowments from:
Donationsand legacies 2 - 308,288 308,288
Other trading activities 3 - 11,065 11,065
Total income - 319,353 319,353
Expenditure on:
Charitable activities 4 - (391,274) (391,274)
Totalexpenditure - (391,274) (391,274)
Net expenditure - (71,921) (71,921)
Gross transfers between funds 14,518 (14,518) -
Net movement in funds 14,518 (86,439) (71,921)
Reconciliation offunds
Total funds brought forward 35,482 186,196 221,678
Total funds carried forward 13 50,000 99,757 149,757
Unrestricted Restricted Total
funds funds 2024
Note £ £ £
Income and Endowments from:
Donations and legacies 2 - 381,792 381,792
Othertradingactivities 3 - 17,116 17,110
Total income - 398,902 398,902
Expenditure on:
Charitable activities		 4 - (362,294) (362,294)
Total expenditure - (362,294) (362,294)
Net income - 36,608 36,608
Netmovement in funds - 36,608 36,608
Reconciliation offunds
Total funds broughtforward 35,482 149,588 185,070
Totalfundscarriedforward 13 35,482 186,196 221,678

All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2024 is shown in note 13.

The notes on pages 10 to 16 form an integral part of these financial statements. Page 8

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Alchemy Film and Arts

(Registration number: SC042142) Balance Sheet as at 30 June 2025

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||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---| |2025|2024| |Note|£|£| |Current|assets| |Debtors|10|302|85,325| |Cash|at bank|and|in|hand|1]|212,556|165,742| |212,858|251,067| |Creditors:|Amounts|falling|due|within|one year|12|(63,101)|(29,389)| |Net|assets|149,757|221,678| |Funds of the charity:| |Restricted|income|funds| |Restricted|funds|13|99,757|186,196| |Unrestricted|income|funds| |Unrestricted|funds|$0,000|35,482| |Total|funds|13|149,757|221,678| |The|financial|statements on pages|8|to|16|were approved by the|trustees,|and|authorised|for isstese(01-30|and|

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The notes on pages 10 to 16 form an integral part of these financial statements. Page 9

Alchemy Film and Arts

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Notes to the Financial Statements for the Year Ended 30 June 2025

1 Accounting policies

Statement of compliance

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Accounts (Scotland) Regulations 2006.

Basis of preparation

Alchemy Film and Arts meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.

The accounts have been prepared in sterling and are rounded to the nearest £1.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

Income and endowments

Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.

Grants receivable

Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income fs recognised as a lability and included on the balance sheet as deferred income to be released.

Deferred income

Deferred income represents amounts received for future periods and is released to incoming resources in the period for which, it has been received. Such income is only deferred when:

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Support costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

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Alchemy Film and Arts

Notes to the Financial Statements for the Year Ended 30 June 2025 (continued)

Governance costs

These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, inchiding audit, strategic management and trustees” meetings and reimbursed expenses.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets, Grants relating fo revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income,

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity.

Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

Pensions and other post retirement obligations

The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification

Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of[its][liabilities.]

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Alchemy Film and Arts

Notes to the Financial Statements for the Year Ended 30 June 2025 (continued)

Recognition and measurement

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

2 Income from donations and legacies

2 Income from donations and legacies
Restricted Total
funds 2025
£ £
Grants, including capital grants;
Government grants 274,501 274,501
Grants from other charities 33,787 33,787
308,288 308,288
Restricted Total
funds 2024
£ £
Grants, including capital grants;
Government grants 284,042 284,042
Grants from other charities 97,750 97,750
381,792 381,792
3 Income from other trading activities
Restricted Total
funds funds
£ £
Other income from othertrading activities 11,065 11,065
Total for2025 11,065 11,065
Totalfor2024 17,116 17,110

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Notes to the Financial Statements for the Year Ended 30 June 2025 (continued)

4 Expenditure on charitable activities

4
Expenditure on charitable activities
Restricted Total
funds funds
Note £ £
Event costs 205,134 205,134
Staffcosts 173,019 173,019
Allocated support costs 12,721 12,721
Governance costs 400 400
Total for 2025 391,274 391,274
Total for 2024 362,294 362,294
5
Analysis ofgovernance and support costs
Governance costs
Restricted Total
funds funds
£ £
Independent examiner fees
Examination ofthe financial statements 400 400
Total for2025 400 400
Totalfor2024 400 400

6 Trustees remuneration and expenses

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year. No trustees have received any reimbursed expenses or any other benefits from the charity during the year.

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Alchemy Film and Arts

Notes to the Financial Statements for the Year Ended 30 June 2025 (continued)

7 Staff costs

The aggregate payroll casts were as follows:

The aggregate payroll casts were as follows:
2025 2024
£ £
Staffcosts during the yearwere:
Wages and salaries 158,125 142,741
Social security costs 10,744 9,212
Pension costs 4,150 3,411
173,019 155,364

The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows:

2025 2024
No No
Charitable Activities 5 5
Governance I i
ee ee

No employee received emoluments of more than £60,000 during the year

8 Independent examiner's remuneration

Examination of the financial statements

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2025 2024
£ £
400 400
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9 Taxation

The charity is a registered charity and is therefore exempt from taxation.

10 Debtors

2025 2024
£ £
Tradedebtors - 85,023
Prepayments 302 302
302 85,325
11 Cash and cash equivalents
2025 2024
£ £
Cash on hand 112 8
Cash atbank 212,444 165,734
212,556 165,742

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Alchemy Film and Arts

Notes to the Financial Statements for the Year Ended 30 June 2025 (continued)

12 Creditors: amounts falling due within one year

2025 2024
£ £
Accruals 2,164 250
Deferred income 60,937 29,139
G101 _29,389.

13 Funds

Balance at
Balance at 1 Incoming Resources 30 June
July2024 resources expended Transfers 2025
£ £ £ £ £
Unrestricted funds
General
General 35,482 - - 14,518 $0,000
Restricted funds
Restricted 186,196 319,353 (391,274) (14,518) 99,757
Total funds 221,678 319,353 (391,274) - 149,757
Balance at 1 Incoming Resources Balance at30
July2023 2023 resources expended June 2024
£ £ £ £
Unrestricted funds
General
General 35,482 - - 35,482
Restricted
Restricted 149,588 398,902 (362,294) 186,196
Totalfunds 185,070 398,902 (362,294) 221,678

The specific purposes for which the funds are to be applied are as foliows:

Restricted funds represent unspent grants and specific items of income that have been earmarked for future expenditure, in accordance with the donors wishes.

14 Analysis of net assets between funds

14 Analysis of netnet assets between funds
Unrestricted
funds		 Restricted Total funds at
30June
General funds 2025
£ £ £
Current assets 50,000 162,858 212,858
Current liabilities - (63,101) (63,101)
Totalnetassets 50,000 99,757 149,757

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Alchemy Film and Arts

Notes to the Financial Statements for the Year Ended 30 June 2025 (continued)

Unrestricted Total funds at
funds Restricted 30June
General funds 2024
£ £ £
Current assets 35,482 215,585 251,067
Current liabilities - (29,389) (29,389)
Totalnetassets 35,482 186,196 221,678

15 Related party transactions

There were no related party transactions in the year.

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