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Company registration number: 05144256
UK Cinema Association Limited
Company limited by guarantee
Filleted financial statements
31 December 2023
UK Cinema Association Limited
Company limited by guarantee
Contents
Directors and other information
Directors responsibilities statement
Statement of financial position
Notes to the financial statements
UK Cinema Association Limited
Company limited by guarantee
Directors and other information
Directors J R Collington
Dr P A Clapp
A W W Cunard
M McAdam
A G Poole (resigned on 20/02/2024)
K Pullinger
J C Ribbons (resigned on 04/12/2023)
T W Bradon
S L Cooper
S A Jones
K H Markwick
D H Short
K C Suri (resigned on 04/03/2024)
M A Turtle
C E Vaughan
M E Williams
C A Welch (resigned on 28/02/2023)
P J Anderson (appointed on 04/03/2024)
J R Hewitt (appointed on 20/02/2024)
D Shaw (appointed on 20/02/2024)
S Suri (appointed on 11/03/2024)
J S Tate (appointed on 20/02/2024)
A Sheldon (appointed on 20/02/2024)
Secretary Dr P A Clapp
Company number 05144256
Registered office 22 Golden Square
London
W1F 9AD
Auditor Redford & Co Limited
Chartered Accountants and
Statutory Auditors
64 Baker Street
London
W1U 7GB
Bankers Coutts & Co
440 Strand
London WC2R 0QS
UK Cinema Association Limited
Company limited by guarantee
Directors responsibilities statement
Year ended 31 December 2023
The directors are responsible for preparing the directors report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to:
- select suitable accounting policies and then apply them consistently;
- make judgments and accounting estimates that are reasonable and prudent; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
UK Cinema Association Limited
Company limited by guarantee
Statement of financial position
31 December 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 6 4,509 2,691
_______ _______
4,509 2,691
Current assets
Debtors 7 90,583 66,803
Cash at bank and in hand 1,191,247 2,655,019
_______ _______
1,281,830 2,721,822
Creditors: amounts falling due
within one year 8 ( 1,038,153) ( 2,532,559)
_______ _______
Net current assets 243,677 189,263
_______ _______
Total assets less current liabilities 248,186 191,954
Creditors: amounts falling due
after more than one year 9 ( 10,000) ( 10,000)
_______ _______
Net assets 238,186 181,954
_______ _______
Capital and reserves
Profit and loss account 238,186 181,954
_______ _______
Members funds 238,186 181,954
_______ _______
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 23 May 2024 , and are signed on behalf of the board by:
J R Collington Dr P A Clapp
Director Director
Company registration number: 05144256
UK Cinema Association Limited
Company limited by guarantee
Notes to the financial statements
Year ended 31 December 2023
1. General information
The company is a private company limited by guarantee, registered in England. The address of the registered office is 22 Golden Square, London, W1F 9AD.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared under the historical cost convention and are prepared in sterling, which is the functional currency of the company.
Going concern
The directors of the company have prepared the financial statements on a going concern basis which assumes the company will be able to meet its future obligations as they fall due and the company will settle all payments within the agreed terms.
Turnover
Turnover represents primarily subscription income from cinema exhibitors, invoiced during the year, net of value added tax. This also includes fees for administration services and income from events.
Operating leases
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 20 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are charged against profits and represent the amount payable in respect of the accounting period.
4. Limited by guarantee
The Company is limited by guarantee. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member.
5. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2022: 3 ).
6. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 January 2023 8,685 8,685
Additions 3,602 3,602
Disposals ( 945) ( 945)
_______ _______
At 31 December 2023 11,342 11,342
_______ _______
Depreciation
At 1 January 2023 5,994 5,994
Charge for the year 1,390 1,390
Disposals ( 551) ( 551)
_______ _______
At 31 December 2023 6,833 6,833
_______ _______
Carrying amount
At 31 December 2023 4,509 4,509
_______ _______
At 31 December 2022 2,691 2,691
_______ _______
7. Debtors
2023 2022
£ £
Trade debtors 52,788 53,061
Other debtors 37,795 13,742
_______ _______
90,583 66,803
_______ _______
8. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 173,570 25,405
Corporation tax 3,435 369
Social security and other taxes 13,040 192,043
Other creditors 848,108 2,314,742
_______ _______
1,038,153 2,532,559
_______ _______
9. Creditors: amounts falling due after more than one year
2023 2022
£ £
Other creditors 10,000 10,000
_______ _______
10. Contingent liabilities
The UK Cinema Association is currently in dispute with the music rights collection agency, PRS for Music over proposed changes to the tariff which governs the level of payments made by its members. While the legal and analytical costs arising from this work are currently being accommodated within the existing budgets, should - as is possible - the dispute escalate to the High Court, then the Association will be required to seek additional sources of funding, and in such instances, sources of funding would be available.
11. Summary audit opinion
The auditor's report dated 23 May 2024 was unqualified.
The senior statutory auditor was Jarnel Grewal for and on behalf of Redford & Co Limited