REGISTERED CHARITY NUMBER: SCO46116
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
FOR
WORLD OF FILM INTERNATIONAL FESTIVAL GLASGOW (WOFF) (SCIO)
Armstrong Watson LLP Caledonia House 89 Seaward Street Glasgow G41 1HJ
WORLD OF FILM INTERNATIONAL FESTIVAL GLASGOW (WOFF) (SCIO)
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Financial Statements | 6 to 9 |
WORLD OF FILM INTERNATIONAL FESTIVAL GLASGOW (WOFF) (SCIO)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
The trustees present their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of 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 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives
-
The advancement of education.
-
The advancement of the arts, heritage, culture or science.
-
The promotion of equality and diversity.
Activities
With expansion of our activities to multiple venues around Glasgow, and our respective education programme introducing more independent film to young audiences, we proceeded to renaming the name of our main event to International Film Festival Glasgow (IFFG), which is now one of the elements under the umbrella of our charity. World of Film remains our overall operations name, incorporating IFFG, Reel Tasty, and other local, national and international events that we host or collaborate on annually.
In November 2024, we delivered our 11th film festival, at the Grosvenor Picture Theatre, The Alchemy Experiment and Film City Glasgow. We hosted over 30 events, including film screenings, enhanced presentations with Q&As and discussions, panels, talks, education short and feature film screenings, workshops and masterclasses for young audiences (under 16s). Collaborations included our Reel Tasty: Food & Film Experience with The Italian Culture Institute in Edinburgh, networking events with visiting talent and interactive industry events.
Over 2000 attendees and 350 young audience members attended our festival events over the course of 4 days, and over 25 visiting industry representatives and filmmakers attended to present projects from 40+ countries and in 20+ languages.
Among our funders were the Glasgow City Council through Area Partnerships, the CORA foundation, BFI Film Audience Network and Film Hub Scotland (with funds from the National Lottery).
ACHIEVEMENTS AND PERFORMANCE
Further expansion of education programme and engagement with schools to offer free activity for under 16s. Aim is to increase participation of young audiences in festivals and the arts, and facilitate introduction to independent cinema, they are otherwise unable to access.
Appointed two new board members, helping enhance the festival programme and further promote the growth of our charity, our events and activities.
Our team participated in education programmes, and hosted events in international festivals - Berlin, Cannes and Venice - promoting and nurturing Scottish talent and supporting the work of independent creatives on national and international platforms.
Continued supporting local communities by offering fully accessible events with sliding scale ticketing, subsidised attendance, support to travel to the festival and use of inclusive spaces that promote equity and access for all.
Overall talent participation increased by 12% and audience attendance by 10% from previous reported numbers.
Continued fostering our relationships with existing partners and established new connections to further support our activities in Scotland and beyond.
FINANCIAL REVIEW
The Statement of Financial Activities shows a deficit of £6,920 (2024 - £10,706 surplus). The reserves carried forward at the year end were £3,516 (2024 - £10,436) which were wholly unrestricted and are to be carried over and used for future events and activity, cover operational expenses and staff travel to attend festivals, workshops and educational activity.
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WORLD OF FILM INTERNATIONAL FESTIVAL GLASGOW (WOFF) (SCIO)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
World of Film International Festival Glasgow (WoFF) is a SCIO and a recognised Scottish charity, governed by its constitution.
Organisational structure
The trustees are responsible for the overall direction of the charity and serve on a voluntary basis.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
SCO46116
Principal address
3 Grosvenor Court 365 Byres Road Glasgow G12 8AU
Trustees
Independent Examiner
Armstrong Watson LLP Caledonia House 89 Seaward Street Glasgow G41 1HJ
Approved by order of the board of trustees on 19 December 2025 and signed on its behalf by:
- Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WORLD OF FILM INTERNATIONAL FESTIVAL GLASGOW (WOFF) (SCIO)
I report on the accounts for the year ended 31 March 2025 set out on pages four to nine.
Respective responsibilities of trustees and examiner
The charity's 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 (as amended). The charity's trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under Section 44(1)(c) of the Act and to state whether particular matters have come to my attention.
Basis of the independent examiner's report
My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. 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
-
to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and
-
to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations
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 reached.
The Association of Chartered Certified Accountants
Armstrong Watson LLP Caledonia House 89 Seaward Street Glasgow G41 1HJ
19 December 2025
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WORLD OF FILM INTERNATIONAL FESTIVAL GLASGOW (WOFF) (SCIO)
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025
| 2025 | 2024 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| INCOME FROM | |||
| Donations and legacies | 13,847 | 9,348 | |
| Other trading activities | 2 | 30,628 | 12,218 |
| Total | 44,475 | 21,566 | |
| EXPENDITURE ON | |||
| Raising funds | - | 624 | |
| Charitable activities | |||
| Project expenditure | 51,395 | 10,216 | |
| Total | 51,395 | 10,840 | |
| NET INCOME/(EXPENDITURE) | (6,920) | 10,726 | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 10,436 | (290) | |
| TOTAL FUNDS CARRIED FORWARD | 3,516 | 10,436 |
The notes form part of these financial statements
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WORLD OF FILM INTERNATIONAL FESTIVAL GLASGOW (WOFF) (SCIO)
BALANCE SHEET 31 MARCH 2025
| 2025 Notes Unrestricted fund £ CURRENT ASSETS Cash at bank 5,022 CREDITORS Amounts falling due within one year 5 (1,506) NET CURRENT ASSETS 3,516 TOTAL ASSETS LESS CURRENT LIABILITIES 3,516 NET ASSETS 3,516 FUNDS Unrestricted funds 6 3,516 TOTAL FUNDS 3,516 |
2024 Total funds £ 11,516 (1,080) 10,436 10,436 10,436 10,436 10,436 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 19 December 2025 and were signed on its behalf by:
- Trustee
The notes form part of these financial statements
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WORLD OF FILM INTERNATIONAL FESTIVAL GLASGOW (WOFF) (SCIO)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities and Trustee Investment (Scotland) Act 2005. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and the amount can be measured reliably.
Income from government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
Other revenue streams are recognised when there is an understanding of the terms to both parties and the charity has invoiced the appropriate entity. In the event that a service is subject to conditions that require a level of performance before the charity is entitled to funds, the income is deferred and not recognised until either those conditions are fully met or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Charitable activities
Costs of charitable activities are incurred by the charity to raise funds for its charitable purposes and includes costs of all fundraising activities, events and non-charitable trading.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Judgements
The company considers on an annual basis the judgements that are made by management when applying its significant accounting policies that would have the most significant effect on amounts that are recognised in the financial statements. The Trustees consider there are no such significant judgements.
continued...
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WORLD OF FILM INTERNATIONAL FESTIVAL GLASGOW (WOFF) (SCIO)
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
1. ACCOUNTING POLICIES - continued
Provisions
Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.
2. OTHER TRADING ACTIVITIES
| OTHER TRADING ACTIVITIES | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Fundraising events | 30,628 | 12,218 |
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME FROM | |
| Donations and legacies | 9,348 |
| Other trading activities | 12,218 |
| Total | 21,566 |
| EXPENDITURE ON | |
| Raising funds | 624 |
| Charitable activities | |
| Project expenditure | 10,216 |
| Total | 10,840 |
| NET INCOME | 10,726 |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | (290) |
| TOTAL FUNDS CARRIED FORWARD | 10,436 |
continued...
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WORLD OF FILM INTERNATIONAL FESTIVAL GLASGOW (WOFF) (SCIO)
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 2025 | 2024 | |||
|---|---|---|---|---|
| £ | £ | |||
| Other creditors | 1,506 | 1,080 | ||
| 6. | MOVEMENT IN FUNDS | |||
| Net | ||||
| movement | At | |||
| At 1/4/24 | in funds | 31/3/25 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 10,436 | (6,920) | 3,516 | |
| TOTAL FUNDS | 10,436 | (6,920) | 3,516 | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 44,475 | (51,395) | (6,920) | |
| TOTAL FUNDS | 44,475 | (51,395) | (6,920) | |
| Comparatives for movement in funds | ||||
| Net | ||||
| movement | At | |||
| At 1/4/23 | in funds | 31/3/24 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | (290) | 10,726 | 10,436 | |
| TOTAL FUNDS | (290) | 10,726 | 10,436 | |
| Comparative net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 21,566 | (10,840) | 10,726 | |
| TOTAL FUNDS | 21,566 | (10,840) | 10,726 |
continued...
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WORLD OF FILM INTERNATIONAL FESTIVAL GLASGOW (WOFF) (SCIO)
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
7. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2025.
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