CHARITY NO: SC049556
GLASGOW SHORT FILM FESTIVAL
REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025

GLASGOW SHORT FILM FESTIVAL
REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
PAGE
Reference and Administrative information
Report of the Trustees
Independent Examiner's Report
Statement of Financial Aclivities
10
Balance Sheel
11
Statement of Cash Flows
12
Notes to Ihe Financial Statements
13-20

GLASGOW SHORT FILM FESTIVAL
REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
REFERENCE AND ADMINISTRATIVE INFORMATION
Trustees
Lee Brazier
Fiona Carr
Tony Currie (appointed 27 January 2025)
Euan Duncan (Chair)
Matthew Lloyd
Violelte Martin
David Parkhill (Treasurer)
Company Secretary
David Gattens
Principal Office
60 Tradeston Street, Glasgow, G5 8BH
Registered Office
12 Rose Street, Glasgow, G3 6RB
Charity Number
SC049556
Bankers
Royal Bank of Scotland plc

GLASGOW SHORT FILM FESTIVAL
REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
The Trustees present their annual report and financial statements of the charity for the year
ended 31 August 2025.
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 conslilution, the Charities and
Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotlandl Regulations 2006
{as amended) and Accounting and Reporting by Charities.. Statement of ReGommended
Practioe applicable 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 initially 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 8ducalion of the public, both formal and informal, 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 lo achieve these objectives primarily through {a} the delivery of an annual film
festival at several venues in Glasgow and Ibl 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 arour)d the
world.
VALUES
Collaboration we seek to learn from and be challenged by partner individuals and
organisations. and to work with them in fairness and mutual respect. We encourage and
enable collaboration between talents. both within Scotland and internationally.
Enquiry we question everything, in order to programme with rigour and curiosity, and to
ensure constant organisational 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 2025
Inclusion we foreground accessibility, diversily and equality within our org8nisation,
partnerships and programme. Everyone is welcome, and we strive to ensure that everyone
is represented.
Solidarity - our activities and governance reflect our commrtmenl to social justice, and our
responsibility to our audience, staff, volunteers and to the artists who entrust their work to us.
Monitoring Achievements and Evaluation
Glasgow Short Film Festival is committed to ensuring Ihat all activities and programming are
of the highest quality. We aim lo undertake a continuous process of planning, monitoring and
evaluation with quality assurance embedded within the whole process from aims and
objectives through to business planning and programme delivery.
We monitor the quality and our progress in the following ways..
Recording all attendances al, 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 encouraged 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 lake place following all edition5 of the festival, as well as
any other projects and large events.
When evaluating how effectively we are achieving our aims and objectives, we consider".
Attendance figures lincreaseldecreasel..
Audience feedback including Ihe impact of work.,
Income generation lincreaseldecreasel.,
Peer reviews (positivelnegalivel..
Submissions- both numbers and income lincreaseldecrease}',
Profile for organisation.. positivelincreased or negative.,
Organisations that want to work with GSFF.,
staff and volunteer morale is positive, staff understand business plan and their
contribution to achieving the goals.
Summary of Activities
Between September 2024 and August 2025, GSFF delivered the following activities..
Sept-Jan: festival strategy consultation for 11 Short Circuit Sharp Shorts films
Oct-Feb: Shorts in Support, screening seven shorts in front of features 166 times to
7,095 people in nine locations across Scotland
Oct: curated a programme of rare 16mm Cinema of Transgression prints from USA
for Uppsala Short Film Festival, Sweden
Nov: curated a programme of recent French and German shorts for the Goethe
Institut and Alliance FranGaise in Glasgow
Feb: represented UK short film al Clermont Ferrand International Short Filrn Market,
in partnership with BFI, British Council and several other UK festivals
Feb-March- extensive screening and workshop programme at HMP & YOI Polmont,
in collaboration with Glass Performance
March: international filmmaker residency, in partnerSh￿P with Cove Park and Minikino
Film Week, Bali, supported by British Council

GLASGOW SHORT FILM FESTIVAL
REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
March: the eighteenth edition of GSFF, including new partnerships with Gro8venor
Picture House, Scottish Opera. Culture Ireland, Scottish Graduate School for Arts
and Humanities, SPT, The Social Hub and Fyne Ales
June.. programme of shorts for Advanced Research Centre, University of Glasgow,
as part of Glasgow Science Festival
July: Queens Park Arena - for the third year we programmed recent Scottish shorts
to screen with repertory features at Inhouse's free summer programme
July-Aug: curated two programmes for Tartan Heart Festival, Belladrum
Key Festival Achievements
We screened 164 short films from 47 countries, including 11 world premieres, 24 UK
premieres and 44 Scottish premieres
There were 3,731 attendances by 1,119 unique visitors. This represents 912 fewer
attendances than in 2024, as a result of reduced venue capacity. CCA was forced to
temporarily close between January and April, resulting in a significant reduction in
our programme, particularly industry events and parties. However, the number of
public tickets sold saw a modest increase of 114, with multiple sell-out shows
78,/0 attended from Glasgow, 150/0 from elsewhere in Scotland, 4 % from the rest of
the UK, and 30kn were international attendees.
Our opening event featured the World Premiere of Alex Hetheringlon's portrait of
local club promoter and DJ Simon Eilbeck, The Disco. The event saw our highest
opening night sales in a decade, since 2015's Vertical Cinema.
We welcomed 221 delegates from 28 countries. including Brazil, Canada, China,
Egypt, Indonesia, Palestine, Taiwan and the USA, as well as several European
countries.
Collaborating with Glass Performance for the second year, we delivered a series of
screenings, animation workshops and curation workshops at HMP & YOI Polmont lo
approximately 160 participants across four populations within the prison.
The eighleenlh edition of the festival faced some significant challenges, such as the sudden
loss of CCA as a venue, and the withdrawal of a key sponsor, not lo mention il being the first
edition without former Programme Director Sanne Jehoul. However, we delivered an exciting
and ambitious event, well received by audiences and filmmakers alike. The opening event,
entire Scollish competition and partnerships with Scottish Opera and Too Happy Studios all
sold out. We Irialed a different venue in the west end, Grosvenor Picture House, to great
success- t￿0 sell outs and 650A capacity across all six screenings. The new programme team
structure, consisting of Festival Director Matt Lloyd, Programme Manager Oisln Kealy and
Curatorial Lead Ren Scaleni each taking responsibility for specific areas of the programme,
worked smoothly to ensure varied audiences were catered for.
We had hoped to repeat the well received schools programme of 2024, bul as funding was
not forthcoming, we instead poured more energy and resources into our HMP Polmont activity.
Once again, the animation completed in the Polmont workshops screened at our opening
event before going on to win a prestigious Koestler Award for arts in criminal justice. Newly
introduced curation workshops Gulminated in a programme of Scottish shorts curated by the
participants and screened for other populations, prison staff and and an invited public
audience. We also took six filmmakers into the prison, including two of our international guests.
The project was an extremely positive experience for all participants, and felt like a fully
integrated element of the festival programme.
However, the major news of this year was the notification in late January from Creative
Scotland that we had secured Multi-year Funding, 2025-28. This not only addresses the
financial challenges of recent years (not least the cashflow problems post-festival) but puts us

GLASGOW SHORT FILM FESTIVAL
REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
in the unprecedented position of knowing we will deliver three more editions. Consequently
we can take on key permanent staff such as a Communications Manager, ensuring
consistency of voice year round, and more effective communication of all our achievements.
It also allows us to plan longer term, devising more ambitious projects. Whilst building reserves
remains an urgent priority, and there are several gaps in the funding patchwork still be be
filled, we ended the financial year in possibly the besl shape we have ever known.
FINANCIAL REVIEW
Total income for the financial year 2024125 was £224,694 (2024.. £183.819) - this represents
a 220/0 increase over the total from the prior year. The largest element of this increase was a
39 % rise from £86,500 to £120,QOO in annual funding from Screen Scotland under their new
Multi-year Funding regime. Total funding from Screen Scotland amounted to £130,000 this
year, being made up of a final instalmenl of £80,000 frorn the Film Festival and Screening
Fund (which finished in August 20251 and a five month apportionment of Ihe first two quarterly
instalments amounting to £50,000 under Multi-year Funding which commenced in April 2025.
Within our other principal sources of income, the picture was a mixed one - funding from trust
and grants grew by 15 % year-on-year, box officelticket income increased by 80/0 and income
from external curation and consultancy grew by 190/0, while submissions income fell by 250/0
and commercial sponsorship was down by 110/0. The overall net effect of these various income
movements was neutral.
As a direct result of Screen Scotland's additional funding this year, our incorne mix has shifted
across all sources. Public investment and trustslgrants now comprises 77°h of our income
12024.. 67 % l - but this was in line with our expectations. The level of income from submissions
as a proportion of total income has fallen to 130/0 12024.. 210/0) this was partly due lo the
reduction in submissions in the year. Whilst the number of submissions dropped by around
500, this was not in itself a concern, as the quality of submissions did not suffer. However, Ihe
disproportionate drop in income can be explained in part by an unfavourable exchange rate
(fees are collected in US$) and by an increase in waivers and discounts as we worked to
attract films from under-represented regions.
Once again we offered a Pay Whal You Can scale across all public screenings at £3-£5-£7-
£10. Average ticket spend was £4.92, with 57 % of tickets being sold at the lowest level. Income
from box office and delegate pass sales was £9,033, a drop of6QA on 2024. However, despite
the reduced capacity, the number of tickets sold was up, not only proportionally146 % of
capacity compared lo 410/0 in 20241 bul in real terms - we sold 114 more public tickels this
year.
Our expenditure of £204,13712024'. £189,432) for the year represented an 80/0 increase in
spend on last year. This reflects the additional venue costs associated with the temporary
closure of CCA, as well as increased salaries and fees for programming staff in line with Living
Wage, and the programme and filmmaker exchange with Minikino Film Week, Bali, fully
funded by the British Council.
We are therefore able to report a surplus for the year of £20,55712024.' £5,613 deficit), thanks
to increased funding through the new Creative Scotland Mulli-year Funding strand from April
2025. Our balance sheet at year-end now reflects a positive unrestricted reserves position of
£4.870 for the first time in several years. It should be noted however that the increase in
funding reflects new expenditure commitments for the period 2025-28, including the
recruitment of a permanent Communications Manager. Whilst we have addressed our deficit
there is still considerable work lo be done in establishing free reserves al the level required of
our reserves policy.

GLASGOW SHORT FILM FESTIVAL
REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
Roserves Policy
Glasgow Short Film Festival has long stated its aim 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 Ihe 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.
Our on-gaing operation is dependent on core funding from Creative Scotland. Previously this
came from the Screen Scotland Film Festival & Screening Programme Fund. We were
delighted to 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, this new core funding is 500/0 higher per year Ihan our previous annual levels.
Our application allowed for increased spending on staffing, and some ambitious targets for
project funding and other revenue streams. This newfound security and funding boost has
also allowed us to address our negative reserves and start lo build towards our intended level
of reserves.
Intended level of reserves
In order to cover the core costs of salaries, rent and olher regular outgoings for three months,
GSFF envisages free reseNes of around £20,000. The Board is devising strategies towards
achieving this target within the next five years.
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 ils constitution dated 21 August 2019. The organisation is governed by a
Board of Trustees, and run on a day-lo-day basis by 8 Festival Director, who is also a Trustee,
a Programme Manager, a Communications Manager and a Curatorial Lead. The Festival
Director is responsible for all operational matters and decisions. All m8jor policy decisions are
ratified by the Trustees.
The Trustees have overall responsibility for the organisation's resources and ensuring ils
financial wellbeing.
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 (Scotlandl Act 2005. Under the provisions
of the constitution. no-one can be a member unless they are also a charity trustee of the SCIO.
Appoinlment and retiral of Gharity Trustees is covered by paragraphs 19-28 of the constitution.
The Truslees administer the charity. They are supported by a voluntary Company Secretary.
The Trustees critically examine the organisalion's strategy, budget and business plan each
year and meet four to six limes a year lo review performance, key business issues and
initiatives. The Festival Director is responsible for developing and implementing business
strategy and processes, and for the day-to-day management of the organisation.

GLASGOW SHORT FILM FESTIVAL
REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
The remuneration of the charity's staff is reviewed by the Trustees annually. We aspire lo pay
the market rale as benchmarked with charities of a similar size and activity to ensure that the
remuneration sel 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, inlerests is maintained and as at the dale of signing there were no
trustees who had a conflicting interest.
Connected Charities
The organisalion works in collaboration with other charitable organisations
such as other
film venues and educational inslilutions - on specific projects and initiatives. It also receives
funding from various charitable trusts and foundations.
Trustees, responsibilitles in relation to the financial statements
The charity trustees are responsible for preparing a trustees, annual report and financial
statements in accordan￿ wilh applicable law and United Kingdom Accounting Standards
(United Kingdom Generally Accepted Accounting Praclicel.
The law applicable to charities in Scotland requires the charity trustees to prepare financial
statements for each year which give a true and fair view of the stale 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 consistently.,
observe the methods and principles in the applicable Charities SORP.,
make judgements and estimates that are reasonable and prudent.,
slate whether applicable accounting standards have been followed, subject to any
material departures disGlosed and explained in the financial statements.,
prepare the financial statements on the going concern basis unless il is inappropriate to
presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with
reasonable accuracy at any time the financial position Df the charity and to enable them to
ensure that the financial slalemenls comply with the Charities and Trustee Investment
(Scolland) Act 2005, the Charity Accounts (Scotland) Regulations 2006 {as amended), and
the provisions of the charity's constitution. They are also responsible for safeguarding the
assets of the charity and taking reasonable steps for the prevention and detection of fraud and
olher irregularities.
The trustees are responsible for the maintenance 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 lo make themselves
aware of any relevant audit information and to establish that the Independent Examiner

GLASGOW SHORT FILM FESTIVAL
REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
is aware of that information.
Approved by Ihe Trustees on 15 May 2026, and signed on their behatf by-.
Matthew Lloyd
Trustee

GLASGOW SHORT FILM FESTIVAL
INDEPENDENT EXAMINER'S REPORT TO THE MEMBERS OF GLASGOW SHORT
FILM FESTIVAL FOR THE YEAR ENDED 31 AUGUST 2025
I report on the accounts of the charily for the year ended 31 August 2025, which are set out
on page$ 10 to 20.
Ra8pective responslbilitles of trustees and examlner
The charity's trustees are responsible for the preparation of the accounts in accordance with
the temis of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities
Accounts (Scotland) Regulations 2006.
The charity 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 stale whether particular matters have come
to my attention.
Ba518 of indepondent examlner's statement
My 8xamination 18 carried out in accordance with Regulation 11 of the Charities Accounts
(Scotland) Regulalions 2006. An examinalion includes a review of the accounting records
kept by the charity and a comparison of the accounts presented with Ihose records. It also
includes consideration of any unusual items or disclosures in the accounts, and seeks
explanatlons from the trustees conceming 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 examineffs statsment
In the course of my examination, no matter has come to my attention
which give8 me reasonable cause to believe that In any material respect8 the
requirements:
• to keep accounting records in accordanc8 with Section 44 (1) (a) of the 2005
Act and Regulation 4 of the 2006 A¢counls Regulations, and
to prepare accounts which a¢cord with the accounting records and comply with
Regulatlon 8 of the 2006 Accounts Regulations
have not been mèt. or
2. to which, in my opinion, attention should be drawn in order to enable a proper
understanding of the accounts to be reached.
Mr Gerald O'connor
{ICAS Membership no. M19134)
22 May 2026

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GLASGOW SHORT FILM FESTIVAL
BALANCE SHEET AS AT 31 AUGUST 2025
2025
2024
Note
Current a55ets.'
Debtors
Cash at bank and in hand
13
18
11,319
29,898
17,821
677
Total current assets
41,217
18,498
Current liabilities:
Creditors falling due within one year
14
31,787
29, 625
Net assetsl{liabilitiesl
9,430
11,127
The funds of the charity..
Restricted income funds
Unrestricted funds
4,560
4,870
(11, 127)
Total charity funds
15
11,127
For the year ended 31 August 2025, the company was entitled to exemption under section 477 of
the Companies Act 2006. No member ofthe company has deposited a notice, pursuant to section
476, requiring an audit of these financial statements under the requirements of the Companies Acl
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 slalemenls which give
a true and fair view of the state of affairs of the company as al the 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 the requirements of the Companies Act 2006 relating lo
accounts, so far as applicable to the company.
Approved by the trustees on 15 May 2026 and signed on their behalf by..
Matthew Lloyd
David Parkhill
li

GLASGOW SHORT FILM FESTIVAL
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDING 31 AUGUST 2025
Total
Funds
2025
Total
Funds
2024
Note
Cash flows from operating activities:
Net cash provided byllused in) operating
activities
17
29,225
(4, 629)
Cash flows from investing activities
Bank and transaction charges paid
Net cash provided byllused in) investing
activities
{4)
(11)
Cash flows from financing activities
Change in cash and Cash equivalents In the
year
29,221
(4, 640)
Cash and cash equivalent brought forward
677
5,377
Cash and cash equivalents carried forward
18
29,898
677
12

GLASGOW SHORT FILM FESTIVAL
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2025
1. Accounting Policies
(al Basis of preparation and assessment of going concern
The accounts (financial statemenlsl have been prepared under the historical cost convention
with items recognised at cost or transaction value unless otherwise slated in the relevant
notelsl to these accounts.
The financial statements have been prepared in accordan￿ 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 IScotland} Act 2005
and the Charities Accounts (Scotlandl Regulations 2006 (as amended).
The charity constitutes a publi¢ benefit entity as defined by FRS 102.
The trustees consider that there are no material ￿n￿rtaInlieS aboul the charity's ability to
continue as a going concern, as seGure funding and balan￿d budgets have been agreed
through the next twelve months.
Ibl 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 entitlement to the income, it is probable that the
income will be received and the arnount of income receivable can be measured reliably.
Donations are recognised when the charity has been notified in writing of both the amount and
settlement dale. 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 fully met, or the fulfilment of those conditions is
wholly within the control of the charity and il is probable that those conditions will be fLJlfilled
in Ihe 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 nDlification of the interest paid or
payable by the bank. Dividends are recognised once the dividend has been declared and
nolificalion has been re￿iVed of the dividend due. This 15 normally upon notification by our
investment advisor of the dividend yield of the investment portfolio.
Income from government and other grants. whether'capital, or'revenue, grants, is recognised
when the charity has entitlement to the funds. any performance conditions attached to the
grants have been mel, it 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 2025
1. Accounting Policiès (continued)
(d} Expenditure recognition
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 settlement will be required and
the 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 infomialion on this attribution refer to note (fj below.
Costs of raising funds comprise an allocation of salary costs in proportion to the time
spent by staff on fundraising activity.
Expenditure on charitable activities includes other salary costs, programme and other
activities undertaken to fLJrther the purposes of the charity and their associated support
costs.
Irrecoverable VAT is charged as a Gost against the activity for which the expenditure is
incurred.
(e} Donated servlces and facilities
Donated professional services and donated facilities are recognised as income when the
charity 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 {FRS
1021, the general volunteer time of the Friends is not recognised and refer to the trustees,
annual report for more information about their contribution.
On receipt, donated professional services and donated facilities are recognised on the basis
of the value of the gift to the charity which is Ihe amount the Gharily would have been willing
lo pay lo obtain services or facilities of equivalent economic benefit on the open market., a
corresponding amount is then recognised in expenditure in the period of re￿ipt.
(Q 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 accounlabilily of the charity and ils
compliance with regulation and good practice. These costs include costs related to slatulory
audit and legal fees logether with an apportionment of overhead and support costs.
Governance costs and support costs relating to charitable activilies 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
poslgraduale 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 2025
(gl Debtors
Trade and other debtors are recognised al the settlement amount due after any trade discount
offered. Prepayments are valued al the amount prepaid nel 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 investments with a
short rnaturity of three months or less from the dale 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 to a third party and the
amount due to settle the obligalion can be measured or estimated reliably. Creditors and
provisions are normally recognised at their settlement amount after allowing for any trade
discounts due.
(J) Realised gains and losses
All gains and losses are taken to the Statement of Financial Activities as they arise. Realised
gains and losses on investments are calculated as the differen￿ between sales proceeds and
their opening carrying value or their purchase value if acquired subsequent to the first day of
the financial year. Unrealised gains and losses are calculated as the difference belween 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 Aclivilies.
{k} 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 more
uncertain future events not wholly within the trustees, control., or
a present obligation following a grant offer where settlement is either not considered
probable., or
the amount has not been communicaled 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 instruments. Basic financial instruments are initially recognised at transaction value
and subsequently rneasured at their settlement value with the exception of bank loans which
are subsequently measured at amortised cost using the effective interest method.
2. Legal status of the Charity
The Charity is a registered Scottish Charitable Incorporated Organisalion.
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 2025
3. Related party transactions and trustees, expenses and remuneration
Other than the Festival Director. the trustees all give freely their time and expertise withoul
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 not reimbursed for business expenses during the year (2024.. £1,972). 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
2025
2024
Donations
General grants..
Screen Scotland - Film Festival & Screening Fund
Screen Scotland - Multi-year Funding
14
49
80,000
50,000
86,500
130,014
86,549
5. Income from charitable activities
2025
2024
Programme l GSFF
91, 770
6. Income from other trading activities
2025
2024
Commercial sponsorship
4,910
5,500
7. Raising funds- expenditure on raising donations and legacies
Direct
Costs
Support
Costs
Total
2025
Direct
Costs
Support
Costs
Total
2024
Development
and fundraising
9,124
9,124
8,592
8, 592
9,124
9,124
8, 592
16

GLASGOW SHORT FILM FESTIVAL
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2025
8. Analysi5 of expenditure on charitable activities
2025
2024
Programme costs
Promotional costs
Research costs
General expenses
Governance costs Inole 91
Support costs (note 91
101,609
10,391
39
851
2,281
79,842
90,621
11,266
93
1,528
2, 148
75,184
195,013
180 840
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
Co51 type
Total
Allocated
2025
Raising Governance
Funds
related
Salary costs
Overheads
Royalties/Ll￿nCeS
Travel & Subsistence
Bankllransaction charges
73,231
13,893
961
3,158
7,323
1,389
96
316
1,831
347
24
79
64.077 Time spent
12,157 Time spent
841 Time spent
2,763 Time spent
4 Time spent
Total
91,247
9,124
2,281
79,842
Other
Basis of
support apportionment
costs
Cost type
Total
Allocated
2024
Raising Governance
Funds
related
Sa18ry Costs
Overhe8ds
Roy8lties/Licences
Travel & Subsist&nce
Bank/lransaclion Gharges
69, 127
13.013
1,593
2,180
6,913
1,301
159
218
1,728
325
40
55
60,486 Time spenl
11.387 Time spent
1,394 Time spent
1,907 Time spenl
10 Time spenl
Totsl
85, 924
8.592
2, 148
75,184
Governance costs:
2025
2024
Support costs {see above)
2,281
2,281
17

GLASGOW SHORT FILM FESTIVAL
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2025
10. Analysis of stsff costs and remuneration of key management personnel
2025
2024
Salaries and wages
Pensions costs
72,087
1,144
68,164
963
Total staff costs
73,231
69, 127
Key Management Personnel renurneration
25,833
23,567
Other than the pension plan contributions shown above, the 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 412024.. 4}.
11. Net incomellexpenditurel for the year
This is stated after charging..
2025
2024
Bank interesl and transaction charges payable
li
12. Government Grants
2025
2024
Screen Scotland (Creative Scotland)
130,000
86, 500
In 2024125, Screen Scotland provided funding for general running costs of Glasgow Short Film
Festival and ils all-year programme.
13. Debtors
2025
2024
Trade debtors
Other debtors
8,937
2,382
12,089
5, 732
11,319
17,821
18

GLASGOW SHORT FILM FESTIVAL
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2025
14. Creditors: amounts falling due within one year
2025
2024
Trade creditors
other creditors and accruals
Taxation and social security costs
4,017
26,055
1,715
14,056
15,467
102
31,787
29, 625
15. Analysis of charitable funds
2024
Balance
blfwd
2025
Balance
¢lfwd
Analysis of
Fund movements
Income
Expenditure
Unrestrlcted funds
General funds
Total unrestrlcted funds
11,127
11,127
176,577
176,577
160,580
160,580
4,870
4,870
Restrlcted fund
GSFF
Total restrlcted funds
48,117
48,117
43,557
4,560
4,560
TOTAL FUNDS
11,127
224,694
204,137
9,430
a) The unrestricted funds are available to be spent for any of the purposes of the charily.
b) Restricted funds comprise funding from specific funders including Creative Scotland
and Film Hub Scotland. to support both the delivery of GSFF25 and specific events
and activities as part of our year-round programme.
2023
Balance
b/fwd
2024
Analysis of
Fund movements
Balance
c/fwd
Income
Expenditure
Unrestricted funds
General funds
5,514
Total unrestricted funds ￿5 514
132,506
132 506
138,119
138,119
11,127
11,127
Restricted fund
GSFF
Total restricted funds
51,313
57,313
51,313
TOTAL FUNDS
5,514
183,819
189,432
19

GLASGOW SHORT FILM FESTIVAL
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2025
16. Net assets ovor funds
Unrestrictod
Funds
Restricted
Funds
Total
2025
Debtors
Cash
Current liabilities
11,319
25,338
131,7871
11,319
29,898
131,7871
4,560
4,870
4,560
Unrestricted
Funds
Restricted
Funds
Total
2024
Debtors
Cash
Current liabilities
17,821
67T
(29, 625)
77.821
677
(29, 625)
11,127
11.127
17. Reconciliation of net incomellexpenditure) to net cash flow from operating
activities
2025
2024
Nel incomel(expenditure) for the year
(as per the Stalement of Financia5 Activities)
20,557
(5,613)
Adjustments for..
Bank interest and transaction charges paid
Decreaselllncrease) in debtors
Increase in creditors
6,502
2,162
(7, 527)
8,500
Net cash provided byllusod inl operating activities
29,225
4, 629
18. Analysis of cash and cash equivalents
2025
2024
Cash in bank
Cash in online sales platforffls
29,871
27
654
23
Total cash and cash equivalents
29,898
677
20