CHARITY NO: SC049556
GLASGOW SHORT FILM FESTIVAL
REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

GLASGOW SHORT FILM FESTIVAL
REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
PAGE
Reference and Administrative information
Report of the Trustees
Independent Examiner's Report
Statemenl of Financial Activities
10
Balance Sheet
statement of Cash Flows
12
Notes lo the Financial Statements
13-20

GLASGOW SHORT FILM FESTIVAL
REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
REFERENCE AND ADMINISTRATIVE INFORMATION
Trustees
Company Secretary
Prlnclpal Offlce
Registered Office
Charity Number
SC049556
Bankers
Royal Bank of Scotland plc, 300 Bath Street, Glasgow G2 6EQ

GLASGOW SHORT FILM FESTIVAL
REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
The Trustees present their annual report and financial statements of the charity for the year
ended 31 August 2024.
The financial statements have been prepared in accordance with the accounting policies set
out in note 1 to the accounts and comply with the charity's constitution, the Charities and
Trustee Investment (Scotlandl Act 2005, the Charities Accounts IScotland} Regulations 2006
(as amended) and Accounting and Reporting by Charities.. Slatement of Recommended
Practice applicabSe to charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland published on 16 July 2014.
The legal and administrative information on page 1 forms part of this report.
OBJECTIVES AND ACTIVITIES
Glasgow Short Film Festival hosts an inclusive community of filmmakers and film lovers,
showcasing ground-breaking works of visual storytelling.
GSFF was inrtially developed as a project of Glasgow Film over a period of twelve years. In
2019, the decision was taken to establish GSFF as an independent Scottish Charitable
Incorporated Organisation.
The SCIO was established..
To advance the education of the public, both formal and inforrnal, linked to, or through
the medium of short film and related media, primarily within Glasgow but also
throughout Scotland and beyond.,
To advan￿ short film as a form of art and cultural expression, primarily within Glasgow
but also throughout Scotland and beyond.,
To advance Scotland's film heritage. through researching and exhibiting short films
held in archives, and through researching, cataloguing and exhibiting short films held
by private individuals or organisations
GSFF aims to achieve these objectives primarily through lal the delivery of an annual film
festival at several venues in Glasgow and (bl the design andlor delivery of a range of
initiatives, activities, programmes and events all year round, both in Scotland and
internationally.
PURPOSE
To nurture and inspire diverse forms of cinematic expression, in Scotland and around the
world.
VALUES
Collaboration - we seek to learn from and be challenged by partner individuals and
organisations. and to work wilh them in fairness and mutual respect. We encourage and
enable collaboration between talents, both within Scotland and internationally.
Enqulry - we question everything. in order to programme with rigour and curiosity, and to
ensure constant organisalional change and development. We champion filmmakers who
challenge formal conventions and ask difficult questions.

GLASGOW SHORT FILM FESTIVAL
REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
Inclusion - we foreground accessibility, diversity and equality within our organisalion,
partnerships and programme. Everyone is welcome, and we strive to ensure that everyone
is represented.
Solidarity - our activities and governance reflect our commitment to social justice, and our
responsibility to our audience, staff, volunteers and to the artists who entrust their work to us.
Monltorlng Achievements and Evaluation
Glasgow Short Film Festival is committed to ensuring that all activities and programming are
of the highest qualily. We aim to undertake a continuous process of planning, monitoring and
evaluation with quality assurance embedded wilhin the whole process from aims and
objectives through lo business planning and programme delivery.
We monitor the quality and our progress in the following ways..
Recording all attendances at, engagements with and participations in our activities, both
off and online.,
Measuring performance against targets for attendance and income;
Website and Social Media engagement is recorded.,
Audience and visitor feedback is enGouraged and is recorded, collated and acted on.,
Festival Director's Reports are produced and circulated to trustees in advance of trustee
meetings.,
Formal evaluation meetings take place following all editions of the festival, as well as
any other projects and large events.
Vvhen evaluating how effectively we are achieving our aims and objeclives, we consider..
Attendance figures (increaseldecreasel.,
Audience feedback including the impact of work.,
Income generation (increaseldecreasel.,
Peer reviews {posilivelnegative)',
Submissions - both numbers and income (increaseldecrease)-,
Profile for organisation.. positivelincreased or negative;
Organisations that want lo work with GSFF.,
Staff and volunteer morale is positive, staff understand business plan and their
contribution to achieving Ihe goals.
Summary of Activities
Between September 2023 8nd August 2024, GSFF delivered the following activities..
October 2023: short film and filmmaker conversation as part of an event exploring
dreams at the recently opened Advanced Research Centre at University of Glasgow
November 2023: co-hosted screening with LUX Scotland and Take One Action Film
Festival to raise funds for MediGal Aid for Palestine
September-June 2023: festival strategy consultation for Short Circuit Sharp Shorts
Year 3 films
February-march 2024: extensive screening and workshop programme at HMP &
Yol Polmont, in collaboration with Glass Performan
March 2024: the seventeenth edition of GSFF, including extensive schools
programme at multiple locations across the city
May 2024: programme of shorts for the ARC as part of Glasgow Science Festival

GLASGOW SHORT FILM FESTIVAL
REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
July 2024: Queens Park Arena - for the second year we programmed recent Scottish
shorts to screen with repertory features at Inhouse's free summer programme
Key Achievements
We screened 136 short films from 46 countries, including 10 world premieres and 19
UK premieres
950/0 of responders to our audience Su￿eY rated the programme 4 or 5 out of 5, and
980A found the festival to be welcoming and accessible
There were 4643 attendances by 1804 unique visitors lan increase of 560 unique
visitors on the 2023 event, but a slight decrease in attendances from 4649). 680/0
attended from Glasgow, 210h from elsewhere in Scotland, 70/0 from the rest of the UK,
and 4 % were international attendees.
We welcomed 37 internalional delegates from 21 countries, including Brazil, Canada,
China, Costa Rica, Indonesia, Taiwan and the USA, as well as several European
countries.
Key industry attendees included representatives of high profile events including
Toronto Film Festival, SXSW, Palm Springs, IDFA and FID Marseille.
Collaborating with Glass Perfortnance we delivered a series of screenings and
animation workshops at HMP & YOI Polmont to approximately 140 participants across
four populations within the prison. The animation completed in the workshops
screened al our opening event before going on to win a prestigious Koestler Award for
arts in criminal justice. It was also included in an exhibition curated by Jeremy Deller
at the Royal Festival Hall, London.
Our opening event featured the first public screening of six earfy 8mm shorts by Bill
Douglas, with a specially commissioned live accompaniment, and a new dialogue track
recorded specially for the occasion. The event was attended by Peler Jew811, Bill's
longtime Close friend and Gollaboralor (and star of several of the films), who had
previously attended the festival in 2012 to give his blessing to our inaugural Bill
Douglas Award. This was to be one of Peter's final public appearances in support of
Bill's work. as he passed away in March 2025 al the age of 90.
We welcomed student delegations from Edinburgh College of Art and Screen
Academy Scotland's Kino Eyes Erasmus programme alongside, for the first time,
delegations from the University of the Highlands and Islands and Newcastle University.
We delivered an extensive schools programme, including screenings and animation
workshops at CCA and Platform, Easterhouse for 492 primary school children, and
filmmaker workshops for pupils at four secondary schools in areas of relative
deprivation across the city.
We established new commercial sponsorship deals with Blazing Griffin and Shorls TV,
supporting our Scottish Short Film Award and International Audience Award
respectively.
The festival featured positively in BBC News, The Herald, The National, The Skinny
and The List. We collaborated with Glasgow Film Festival on the announcement of our
opening event, as GFF was screening a documentary about the friendship between
Bill Douglas and Peter Jewell, and this benefitled us hugely in terms of press coverage.
GSFF was also fealured in a ten minute interview package on the European cultural
channel ARTE (filmed in December 20231.
Concluslon
The seventeenth edition of the festival presented us with the opportunily lo consolidate and
improve various systems whilst tackling new challenges. After our website hosts decided not
to renew their contract with us, we devised and launched a new website beller integrated with
our database. Using lessons learned when running our own box office in 2023, we successfully

GLASGOW SHORT FILM FESTIVAL
REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
ran an almost entirely online box office, saving staffing costs by offering in-person cash sales
in partnership with CCA. The limited in-person lake-up confirmed not only the demand for this
option from an access perspective but also the value of working in partnership rather than
recruiting additional box Offi￿ staff.
Meanwhile our community activities in Glasgow schools and in HMP Polmonl marked exciting
new learning experiences, both for the participants and for the festiva5 team. The Polmont
activity in particular proved to be some of the most rewarding and well-received work we've
ever done. Securing a New Producer paid internship through Film Hub Scotland ensured that
all our community activity was ooordinated by a single person (Frieda Ford), saving the rest of
the team from spreading ourselves too thinly. Remarkably, Frieda also found time lo devise
and deliver a Film Criticism workshop for young people during the festival.
2024 marked Sanne Jehoul's final edition of the festival, and offered as challenging, curious
and diverse a programme as we've come lo expect from her. Having worked her way up from
volunteer lo Programme Director over ten editions, and instrumental in the festival's move to
independence in 2019. Sanne leaves an indelible stamp on GSFF'S identity, valu8s and
purpose. She'll be irreplaceable.
FINANCIAL REVIEW
Total income for the financial year 2023124 was £183,819 {2023.' £175.8601. This was up 4.5010
overall on the prior year. Submissions income was up 50/0 on the prior year. While not among
our key revenue streams, incomefrom external curation and consultancy and from commercial
sponsorship more than doubled. All other income streams were largely consistent with
2022123, with the exception of box office and delegate pass sales.
Once again we offered a Paywhat You Can scale across all public screenings, and increased
the scale to £3-£5-£7-£10 (previously £2-£4-£6-£8}. This resulted in a modest increase in
average tickel spend, from £4.03 to £4.50, with over 40 % of tickets being sold at the lowest
level. Consequently, whilst the number of public tickets sold actually dropped by 120h, the box
office income was up by 180h on the 2023 event.
Gross income from box office and delegate pass sales was £11,381, just short of ourlarget of
£12k. We welcomed 241 delegates. 86 of whom were paying, a drop from 2023's figures
{30211401, and as a result income from delegate pass sales dropped by 45°/o. The decrease
was due to institutional budget cuts - none of the student cohorts who regularly attend the
festival from Sheffield, Swansea and elsewhere in England came this year. Clearly the cost-
of-living crisis continues to bite, reinforcing the need for the PWYC scale to provide access to
affordable cultural experiences.
Public investment and truslslgrants comprised 670/0 of our income {2023= 710/0) which was in
line with our expectations. The level of income from submissions remained largely constant
with the prior year at 21 OA12023'. 20010).
Our expenditure of £189,432 (2023.. £188,495) for the year was marginally higher than last
year. Finding ourselves in need of a new website at short notice after our hosts chose not to
renew the contract, we were able to raise additional funds through private trusts and make
some reductions in programme delivery and guest costs. This went some way towards
miligaling against this additional unexpected expenditure.
However. the drop in delegate pass sales and the additional expenditure resulted in a net
deficit being reported for the year of £5,613 {2023.' £12,635}.

GLASGOW SHORT FILM FESTIVAL
REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
Our balance sheet at year-end reflects a negative unrestricted reserves position of1£11,1271
compared to a PDSition of1£5,414) at the previous year-end. This naturally led to much more
cautious planning for the 2025 edition of the festival, for which we already had Gore funding of
£80.000 as the second installmenl of two-year funding frorn Screen Scotland. Despite Ihe
knock to our financial standing, we remain committed to the aspirations of our ambitious
Reserves Policy, although we continue to be aware that the arts funding landscape is an
exceptionally challenging one.
Reserves Pollcy
Glasgow Short Film Festival wishes to establish reserves that will secure the day to day
operational requirements of the charity for a minimum period of three months. so that in the
event of unforeseen financial challenges, staff may continue lo deliver activities whilst applying
for additional financial support.
GSFF is a small organisalion with limited resources to deliver an ambitious annual programme
of activity. To date the organisation's on-going operation has been dependent on core funding
from Creative Scotland, namely the Screen Sootland Film Festival & Screening Programme
Fund. The SCIO was awarded funds from this Sour￿ for an initial Iwo-year period.
Subsequent awards have been made annually, however we received two year funding for
2024-25, to facilitate our application in 202314 to Creative Scotland for Mulli-year Funding
2025-28.
We were delighted lo receive notification in January 2025 that GSFF'S application for Multi-
Year Funding was successful, and consequently, going into the 2025 edition of the festival we
found ourselves in the unprecedented position of having already confirmed core-funding for
the 2026-2028 editions. Furthermore, that core-funding is 500/0 higher per year than our
previous annual levels of £80,000. It should be noted that our application included increased
spending on staffing. and some ambitious targets for project funding and other revenue
streams, however this newfound security and funding boost will allow us to address our
negative reserves and start to build towards our intended level of reserves.
Intended level of reserves
In order lo cover the core costs of salaries, rent and other regular outgoings for three months,
GSFF envisages free reserves of around £12,000. Within the Mulli-year Funding application
(completed in April 2024) we proposed building a minimum of £6,500 by 2028. Given our
current level of negative reserves, this target is challenging, however greater staff security
affords us the capacity lo pursue new and increased revenue streams.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Glasgow Short Film Festival (GSFFI was established in August 2019 as a Scottish Charitable
Incorporated Organisalion, having previously been run as a project of Glasgow Film Theatre.
GFT is governed by its constitution dated 21 August 2019. The organisation is governed by a
Board of Trustees, and run on a day-to-day basis by a Festival Director, who is also a Trustee,
and a Programme Director. The Festival Director and Programme Director are responsible for
all operational matters and decisions. All major policy decisions are ratified by the Trustees.
The Trustees have overall responsibility for the organisation's reSoUr￿S and ensuring ils
financial wellbeing.

GLASGOW SHORT FILM FESTIVAL
REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
As set out in the constitution, the charity Trustees are also the members of the SCIO for the
purposes of the Charities and Trustee Investment {Scolland) Act 2005. Under the provisions
of the constitution, no-one can be a member unless they are also a charity trustee of the SCIO.
Appointment and retiral of charity Trustees is covered by paragraphs 19-28 of the constitution.
The Trustees administer the charity. They are supported by a voluntary Company Secretary.
The Trustees critically examine the organisation's strategy. budget and business plan each
year and meet four to six times a year to review performance, key business issues and
initiatives. The Festival Director is responsible for developing and implementing business
strategy and processes and with the Programme Director, for the day-lo-day management of
the organisation.
The remuneration of the charity's staff is reviewed by the Trustees annually. We aspire to pay
the market rale as benchmarked with charities of a similar size and activity to ensure that the
remuneration set is fair and not out of line with that generally paid for similar roles. Glasgow
Short Film Festival pays a minimum of the Real Living Wage to all employees.
A register of Trustees, inleresls is maintained and as at the dale of signing there were no
trustees who had a conflicting interest.
Connected Charities
The organisation works in collaboration with other charitable organisations
such as other
film venues and educational institutions - on specific projects and initiatives. It also receives
funding from various charitable trusts and foundations.
Trustees, responsibilities in relation to the financial ststements
The charity trustees are responsible for preparing a trustees, annual report and financial
statements in accordance with applicable law and United Kingdom Accounting Standards
{United Kingdom Generally Accepted Accounting Practice).
The law applicable lo charilies in Scotland requires the charity trustees to prepare financial
statements for each year which give a true and fair view of the slate of affairs of the charity
and of the incoming resources and application of resources, of the charity for that period. In
preparing the financial statements, the trustees are required to..
select suitable accounting policies and then apply them Gonsistently.,
observe the methods and principles in the applicable Charities SORP.,
make judgements and estimates that are reasonable and prudent.,
state whether applicable accounting standards have been followed, subject lo any
material departures disclosed and explained in the financial slalements.,
prepare the financial statements on the going concern basis unless it is inappropriate to
presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records thal disclose with
reasonable accuracy at any time the financial position of the charity and to enable them lo
ensure that the financial statements comply with the Charities and Trustee Investment
{Scotland) Act 2005, the Charity Accounts {Scollandl Regulations 2006 las amended}, and
the provisions of the charity's constitution. They are also responsible for safegLJarding the
assets of the charity and taking reasonable sleps for the prevention and detection of fraud and
other irregularities.

GLASGOW SHORT FILM FESTIVAL
REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
The trustees are responsible lor the mainlenance and integrity of the charity and financial
information included on the charity's website. Legislation in the United Kingdom governing the
preparation and dissemination of financial statements may differ from legislation in other
jurisdictions.
Statement of Disclosure to Independent Examiner
In so far as the Trustees are aware..
There is no relevant information of which the charity's Independent Examiner is unaware..
and
The Trustees have taken all steps that they ought to have taken ta make themselves
aware of any relevant audit information and to establish that the Independent Examiner
is aware of Ihat information.
Approved by the Trustees on 9 May 2025, and signed on their behalf by..

GLASGOW SHORT FILM FESTIVAL
INDEPENDENT EXAMINER'S REPORT TO THE MEMBERS OF GLASGOW SHORT
FILM FESTIVAL FOR THE YEAR ENDED 31 AUGUST 2024
I report on the accounts of the ¢harity for the year ended 31 August 2024, which are set out
on pages 10 to 20.
Respectlva responslbllltles of trusts8s and examiner
The charity's trustees are responsible for the preparation of the accounts in accordance with
the term8 of the Charities and Trustee Investment {Scotland) Act 2005 and the Charitie8
Accounts (Scotland} Regulations 2006.
The charity trustees consider that the audit requirement of Regulation 10(1) (a} lo Ic) of the
Accounts Regulations does not apply. It is my responsibility to examine the accounts as
required under sedion 44(1) {c) of the Act and to state whether particular matters have come
to my attention.
Basis of independent examlner's statement
My examinalion is carried out in accordan￿ Mth Regulation 11 of the Charities Accounts
(Scolland) Regulations 2006. An examination includes a review of the accounting records
kept by the charity and a comparison of the a¢counts presented with those records. It also
includes consideration of any unusual items or disclosures in the accounts, and seeks
explanations from the trustees concerning any SUGh matters. The proGedures 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.
Indep•nd8nt examlnefs stat8ment
In the cours8 of my 8xamination. no malter has come to my attention
whlch gives me reasonable c8u8e to believe that in any material respects the
requirements..
to keep a¢¢ounting records in accordance with Sedion 4411) (al of the 2005
Act and Regulation 4 of the 2006 Accounts Regulations, and
to prepare accounls whidi accord with the acGounling records and Gomply with
Regulation 8 of the 2006 Accounts Regulations
have not been mel, or
2. to which, in my opinion, attention should be drawn in order to enable a proper
understanding of the accounts to be reached.

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GLASGOW SHORT FILM FESTIVAL
BALANCE SHEET AS AT 31 AUGUST 2024
2024
2023
Note
Current assets..
Debtors
Cash al bank and in hand
13
18
17,821
677
70,294
5,317
Total current a55ets
18,498
75,611
Current liabilities:
Creditors falling due within one year
14
29,625
21,125
Net assetsllliabiliti6S
11,127
5,514
The funds of the charity..
Restricted income funds
Unrestricted funds
(11,127}
(5,514)
Totsl charity funds
15
11,127
5,514
For the year ended 31 August 2024, the company was entitled to exemption under section 477 of
the Companies Act 2006. No member oflhe company has deposited a notice, pursuant lo section
476, requiring an audit of these financial slalements under the requiremenls of the Companies Act
2006.
The trustees acknowledge their responsibilities for ensuring that the company keeps accounting
records which comply with section 386 of the Act and for preparing financial slalements which give
true and fair view of the state of affairs of the company as at tho end of the financial period and
of its profit or loss for the financial period in accordance with the requirements of sections 394 and
395 and which otherwise comply with Ihe requirements of the Companies Act 2006 relating to
acGounts, $0 far as applicable to the company.
Approved by the trustees on 9 May 2025 and signed on their behalf by:
li

GLASGOW SHORT FILM FESTIVAL
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDING 31 AUGUST 2024
Total
Funds
2024
Total
Funds
2023
Note
Cash flows from operating activities:
Net cash provided byllused inl operating
activities
17
(4,6291
(13,864)
Cash flows fmm investing actlvltles
Bank and transadion charg8s paid
47
Net cash provided byl{used in) investing
activities
(11}
(47)
Cash flows from flnanclng activities
Change in cash and cash equivalents in the
year
14,640)
(13,911)
Cash and cash equivalent brought forward
5.317
19,228
Cash and cash equivalents carrled forward
18
677
12

GLASGOW SHORT FILM FESTIVAL
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024
1. Accounting Policies
(a} Basis of preparation and assessment of golng concern
The accounts (financial statemenlsl have been prepared under the historical cost convention
with items recognised al cost or transaction value unless otherwise stated in the relevant
note(s) to these accounts.
The financial statements have been prepared in accordance with the Statement of
Recommended Practice.. Accounting and Reporting by Charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
(FRS 1021 issued on 16 July 2014, the Charities and Trustee Investment (Scotland) Act 2005
and the Charities Accounts (Scotlandl Regulations 2006 (as amended).
The charity Gonstitutes a public benefit enlity as defined by FRS 102.
The trustees consider that there are no material uncertainties about the charity's ability to
onlinue as a going Goncern, as secure funding and balanced budgets have been agreed
through the next twelve months.
{b) Funds structure
Unrestricted income funds comprise those funds which the trustees are free to use for any
purpose in furtherance of the charitable objects, Unrestricted funds include designated funds
where the trustees, at their discretion, have created funds for specific purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions
imposed by the donor or trust deed, or through the terms of an appeal.
Further details of the funds are disclosed in note 16.
{c) Income recognition
Income is recognised once the charity has entitlemenl to the income, it is probable that the
income will bo received and the amounl of income receivable can be measured reliably.
Donalions are recognised when the charity has been notified in writing of both Ihe arnounl and
settlement date. In the event that a donation is subject to conditions that require a level of
performance before the charity is entitled to the funds, the income is deferred and not
recognised until either those conditions are fLJlly met, or the fulfilmenl of those conditlDns is
wholly within the control of the charity and it is probable that those conditions will be fulfilled
in the reporting period.
Interest on funds held on deposit is included when receivable and the amount can be
measured reliably by the charity,. this is normally upon notification of the interest paid or
payable by the bank. Dividends are recognised Dnce the dividend has been declared and
notification has been received of the dividend due. This is normally upon notification by our
investment advisor of the dividend yield of the investment portfolio.
Income from government and olher grants. whether 'capilal' or 'revenue' grants, is recognised
when the charity has entillemenl to the funds, any performance conditions allached to the
grants have been met. il is probable that the income will be received and the amount can be
measured reliably and is not deferred.
13

GLASGOW SHORT FILM FESTIVAL
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024
1. Accounting Policies (continued)
{d} Expenditure recognition
Liabilities are recognised as expenditure as soon as Ihere is a legal or constructive obligation
committing the charity to that expenditure, it is probable that selllement will be required and
Ihe amount of the obligation can be measured reliably.
All expenditure is accounted for on an accruals basis. All expenses including support costs
and governance costs are allocated or apportioned to the applicable expenditure headings.
For more information on this attribution refer to note (4 below.
Costs of raising funds comprise an allocation of salary cosls in proportion to the time
spent by staff on fundraising activity.
Expenditure on charitable activities includes other salary Gosts, programme and other
activities undertaken to further the purposes of the charity and their associated support
costs.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure is
incurred.
{e} Donated services and faGilities
Donated professional services and donated faGilities are recognised as income when the
harily has control over the item, any conditions associated with the donated item have been
met, the receipt of economic benefit from the use by the charity of the item is probable and
that economic benefit can be measured reliably. In accordance with the Charities SORP IFRS
102), the general volunteer time of the Friends is not recognised and refer to the trustees,
annual report for more information about their contribution.
On receipl, donaled professional services and donated facilities are recognised on the basis
of the value of the gift to the charity which is the amount the charity would have been willing
lo pay to obtain services or facilities of equivalent economic benefit on the open market., a
corresponding amount is then recognised in expenditure in the period of receipt.
{f) Allocation of support and governance costs
Support costs have been allocated between governance costs and other support costs.
Governance costs comprise all costs involving the public accountability of the charity and its
compliance with regulation and good practice. These costs include costs related lo st81utory
audit and legal fees together with an apportionmenl of overhead and support costs.
Governance costs and support costs relating to charitable activities have been apportioned
based on the number of individual grant awards made in recognition that the administrative
costs of awarding, monitoring and assessing research grants, salary support grants and
postgraduate scholarships are broadly equivalent. The allocation of support and governance
costs is analysed in note 9.
14

GLASGOW SHORT FILM FESTIVAL
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024
{g} Debtors
Trade and other debtors are reGognised at the seltlement amount due after any trade discount
offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
{h} Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid inveslments with a
short maturity of three months or less from the date of acquisition or opening of the deposit or
similar account.
(i) Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting
from a past event that will probably result in the transfer of funds lo a third party and the
amount due to settle the obligation can be measured or estimated reliably. Creditors and
provisions are normally recognised at their settlement amount after allowing for any trade
discounts due.
O.) Realised gains and losses
All gains and losses are taken to the Stalemenl of Financial Activities as they arise. Realised
gains and losses on investments are Galculated as the difference between sales proceeds and
their opening carrying valLte or their purchase value if acquired subsequent to the first day of
the financial year. Unrealised gains and losses are calculated as the difference between the
fair value at the year end and their carrying value. Realised and unrealised investment gains
and losses are combined in the Statement of Financial Activities.
{kl Contingent liabilities
A contingent liability is identified and disclosed for those grants resulting from..
a possible obligation which will only be confirmed by the occurrence of one or rnore
uncertain future events not wholly within the Iruslees, control., or
a present obligation following a grant offer where settlement is either not considered
probable., or
the amount has not been communicated in the grant offer and that amount cannot be
estimated reliably.
(l} Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic
financial instrLJments. Basic financial instruments are initially recognised at transaction value
and subsequently measured at their settlement value with the exception of bank loans which
are subsequently measured at amortised cost using the effective interest melhod.
2. Legal status of the Charity
The Charity is a registered Scottish Charitable Incorporated Organisation.
The charity has no share capital. The liability of each member in the event of winding up is
£nil.
15

GLASGOW SHORT FILM FESTIVAL
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024
3. Related party transaction5 and trustees, expenses and remuneratlon
Other than the Festival Director, the trustees all give freely their time and expertise wilhout
any form of remuneration or other benefit in cash or kind. The Festival Director's remuneration
is disclosed in the Key Management Personnel declaration in note 10. The Festival Director
was reimbursed for business expenses of £1,97212022'. £862). These mainly consisted of
travel costs and office supplies. No expenses were paid to any other trustees in the year.
During the year, no trustee had any personal interest in any contract or transaction entered
into by the charity.
4. Income from donations and legacies
2024
2023
Donations
General grants
49
86,500
94
85, 000
85. 094
5. Income from charltable activities
2024
2023
Programme l GSFF
91,770
89, 266
6. Income from other trading actlvltles
2024
2023
Commercial sponsorship
5,500
1, 500
7. Raising funds- expenditure on raising donations and legacies
Direct
Costs
Support
Costs
Total
2024
Direct
Costs
Support
Costs
Total
2023
Development
and fundraising
8,592
8,592
8,223
8,223
8,592
8,592
8.223
8,223
16

GLASGOW SHORT FILM FESTIVAL
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024
8. Analysis of expenditure on charitable activities
2024
2023
Programme costs
Promotional CDSts
Research costs
General expenses
Governance costs (note 9)
Support costs {nole 91
90,621
11,266
93
1,528
2,148
75,184
87,923
13,161
250
643
2,056
76, 239
180,840
180.272
9. Allocation of governance and support costs
The breakdown ofsupport costs and how these were allocated between governance and other
support costs is shown in the table below..
Other
Basis of
support apportionment
costs
Cost type
Total
Allocated
2024
Raising Governance
Funds
related
Salary Costs
Overheads
RoyallieslLicences
Travel & Subsistence
Bankltransacbon oharges
69,127
13,013
1,593
2,180
6,913
1,301
159
218
1,728
325
40
55
60,486 Time spent
11,387 Time spent
1,394 Time spent
1,907 Time spent
10 Time spent
Totsl
85,924
8,592
2,148
75,184
Other
Basis of
support apportionment
osts
Cost type
Total
Allocated
2023
Raisffng Governance
Funds
related
Salary costs
Overheads
Royallies/Licences
Travel & Subsistence
88nkltr8nsaction ch8rg8s
67,731
14,502
1,020
3,218
47
6, 773
1,450
7.693
363
59,265 Time spent
12, 689 Time spent
1, 020 Time spenl
3,218 Time spent
47 Time sp8nl
Total
8,223
2,056
76,239
Governance cosls:
2024
2023
Support costs (see above)
2,148
2,148
17

GLASGOW SHORT FILM FESTIVAL
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024
10. Analysis of stsff Costs and remuneration of key management personnel
2024
2023
Salaries and wages
Social security costs
Pensions costs
68,164
66,683
963
1,048
Total staff costs
69,127
67,731
Key Management Personnel renumeration
23,567
22,400
Other than the pension plan contributions shown above, Ihe charity gave no other employee
benefits during the year.
There were no employees whose employee benefits were over £60,000.
During the year. the charily incurred no redundancy and termination payments.
The average weekly number of persons, by headcount, employed by the charity during the
year was 412023.. 4).
11. Net Incomel{expendlture) for the year
This is stated after charging:
2024
2023
Bank interest and Iransaclion charges payable
47
12. Governmenl Grants
2024
2023
Creative Scotland
86,500
85,000
In 2023124, Creative Scotland provided funding for general running costs of Glasgow Short
Film Festival and ils all-year programme.
13. Debtors
2024
2023
Trade debtors
Other debtors
12,089
5,732
2,275
8,019
17,821
10,294
18

GLASGOW SHORT FILM FESTIVAL
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024
14. Creditors: amounts falling due within one year
2024
2023
Trade creditors
other creditors and accruals
Taxation and social security costs
14,056
15,467
102
4,285
16,079
761
29,625
15. Analysis of charitabl6 funds
2023
Balance
blfwd
2024
Balance
clfwd
Analysis of
Fund movements
Income
Expenditure
Unrestricted funds
General funds
Total unrestri¢ted funds
5,514
5,514
132,506
132,506
138,119
138,119
11,127
11,127
Restricted fund
GSFF
Total restricted fund$
51,313
51,313
51,313
TOTAL FUNDS
5,514
183,819
189,432
11,127
al The unrestricted funds are available to be spent for any of the purposes of the charity.
bl Restricted funds comprise funding from specific funders including Creative Scotland
and Film Hub Scotland, to support bolh the delivery of GSFF24 and specific events
and activities as part of our year-round programme.
2022
Balance
b/fwd
2023
Balance
c/fwd
Analysls of
Fund movements
Income
Expenditure
Unrestricted funds
General funds
Total unrestricted funds
6,521 147, 728
6,521 147, 728
159, 763
159, 763
5,514
5,514
Restri¢ted fund
GSFF
Total restri¢ted funds
600
600
28,732
28,732
28, 732
28, 732
TOTAL FUNDS
7 121 175,860
188, 495
5,514
19

GLASGOW SHORT FILM FESTIVAL
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024
16. Nat assets over funds
Unrestricted
Funds
Restricted
Funds
Total
2024
Debtors
Cash
Current liabilities
17,821
677
(29,6251
17,821
677
129,6251
11,127
Unrestricted
Funds
Restricted
Funds
Total
2023
Debtors
Cash
Cu￿ent liabililies
10,294
5,317
(21,125)
10,294
5,317
(21, 125)
5,514
5,514
17, Reconciliatlon of net incomel{expenditure) to net Cash flow from operating
activities
2024
2023
Net incomel(expenditurel for the year
las per the Statement of Financial Activities)
{5,613} (12,635)
Adjustments for-.
Bank interest and transaction charges paid
Ilncreaselldecrease in debtors
Increase in creditors
47
(5, 619)
4, 343
{7,5271
8,500
Net Cash provided byllused inl operating activities
4,629
13,864
18. Analysis of cash and cash equivalents
2024
2023
Cash in bank
Cash in online sales platforms
654
23
4,885
432
Total cash and cash equivalents
677
5.317
20