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Financial Summary
The success of the cinema relies on the right choice of films and the continued support from the local community. There are significant fixed costs per screening including hall hire, equipment hire, advertising and particularly licence fees for newly released films. The latter can be 40/45% of the attendance income generated. We have to be very careful with our film choice, take guidance from lndy Group but we don’t always get it right or clash with other events in the area. As a group we remain aware that our reserves could disappear rapidly if we had 2 or 3 months of low attendance and if so we would then have to re-evaluate the viability of the group.
Reserves
Unrestricted funds for the year end were £5507 and will be used towards our Charitable Purpose. We previously received monies from the Co-op Local Causes grant scheme & Charity begins at Home. We have accumulated total grant funding of £4,359.
These monies are to be used to potentially extend our film nights to include Live Screenings and purchase some of our own equipment. At present, more investigation is required by ourselves to ensure demand and technical capabilities required and the money is spent wisely. Progress is on hold until confidence improves.
Acknowledgements
The group acknowledges the tremendous support of the voiunteers who facilitate the operation of the monthly screenings. We are grateful to Hastings Legal for their continued contribution towards our advertising and The Co-op Local Causes Grant Scheme.
Indy Cinema Group continue to support us with the expertise, equipment and manpower for each screening. This includes advice post COVID and suggestions and the maintaining of their charges at pre COVID levels.
Future Aspirations
Pre COVID, the cinema had continued to evolve in the right direction. However, we will need to rebuild audience numbers and look carefully whether restrictions on hall capacity hinders viability. Momentum has been lost and for the season 2022 — 2023 we will have fewer screenings but ensure that the film choices have wide appeal.
Key risks:-
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1) Support from local community dwindles — mitigate by ensuring the choice of film appeals.
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2) Increased costs of either hall hire or equipment.
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3) Recession — our ticket prices will be capped at pre COVID levels to help mitigate.
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4) There are many ways families can spend their leisure time and cash and we must ensure we continue to offer the right films as early as possible after release and for a ticket price which offers great value for money. One of our challenges evidenced in the latest season is to improve our appeai to the under 16s where attendance has dwindied unless a biockbuster fiim is screened.
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5) Alternative screening methods e.g. Disney channel which has damaged the choice of films available for children.
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6) Continuing impact of COVID 19 particularly if people are reluctant to return to the cinema. We were effectively moth balled since March 2020 and are fortunate that our overheads can be reduced quickly to zero.
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Independent Examiners Report on the Annual Report and Accounts of Kelso Community Cinema. Scottsih Charity Number $C047776
for Year ended 30th June 2022
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 Trustees Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. The Charity Trustees consider the audit requirements of 2006 Regulation 10 (1) (d) of the Accounts Regulations do not apply.
As Independent Examiner, I have the responsibility to examine the accounts as required under Sections 44 (1) (c) of the Act and state whether particular matters have come to my attention.
BASIS OF INDEPENDENT EXAMINATION
My examination is carried out in accordance with regulation 11 of the Charities Accounts (Scotland) Regulations 2006. My review of the records kept by Kelso Community Cinema in relation to the Accounts presented with such records will consider any unusual items and disclosures and seek explanations from the Trustees concerning any such matters.
Those 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.
STATEMENT OF INDEPENDENT EXAMINER
In the course of my examination of the records no matter has come to my attention that gives me any reasonable cause of believe that, in any material respect,
1) the requirement to keep accounting records in accordance with Section (44) (1) a of the 2005 Act, and any subsequent regulations and
2) to prepare accounts as detailed foregoing that accord with these records in compliance with Regulation 9 ofthe 2006 Accounts Regulations, have not been met or that, in my opinion, attention needs to be drawn to enable a proper understanding of Annual Report to Accounts detailed on the foregoing page
Independent Examiner:-
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Relevant Professional qualification ACIE
Addres
Signed Date ESOVW)e d’ €2)
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KELSO COMMUNITY CINEMA
A REGISTERED CHARITY IN SCOTLAND CHARITY NUMBER SC047776
Receipts and Payments Year ended 30th June 2022
| RECEIPTS | 2021 | 2022 | PAYMENTS | 2021 | 2022 |
|---|---|---|---|---|---|
| £ | £ | ||||
| Film Income children | 669 | IndyCinema costs | 1440 | ||
| Film Income adults | 3306 | Film Licence children | 300 | ||
| Refreshments | Film Licence adults | 1642 | |||
| Grants/donations | Hall hire | 598 | |||
| Fundraising | Adverts/ pub/printing | 435 | |||
| Bank Interest | 2 | 2 | Refreshments | ||
| Insurance | 26 | 228 | |||
| Miscellaneous | 95 | ||||
| Totals | 2 | 3977 | 26 | 4738 | |
| Surplus/-Deficit | -24 | -761 | |||
| Statement of Funds as at 30th June 2022 | |||||
| 2020 | 2021 | ||||
| TSB Bank at start | 6292 | 6268 | |||
| Add surplus foryear | -24 | -761 | |||
| Closing Balances | 6268 | 5507 | |||
| Consisting of:- | |||||
| TSB Instant Access Acc. | 4365 | 4367 | |||
| TSB Bank CharityTrustAcc. | 1903 | 1140 | |||
| Total | 6268 | 5507 |
Approved by the Trustees and signed on their behalf
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