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COMPANY REGISTRATION NUMBER: 03739675
CHARITY REGISTRATION NUMBER: 1075315
The Film Place
Company Limited by Guarantee
Unaudited Financial Statements
31 March 2024
The Film Place
Company Limited by Guarantee
Financial Statements
Year ended 31 March 2024
Page
Trustees' annual report (incorporating the director's report)
1
Independent examiner's report to the trustees
5
Statement of financial activities (including income and expenditure account)
6
Statement of financial position
7
Notes to the financial statements
8
The Film Place
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 March 2024
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2024 .
Reference and administrative details
Registered charity name
The Film Place
Charity registration number
1075315
Company registration number
03739675
Principal office and registered
Yeomanry House
office
Hunter Street
Buckingham
MK18 1EG
Bucks
The trustees
Mr J Tooley
(Resigned 14 August 2023)
N Brash
P J Hoare
M L White
M G Dalzell
G C Hull
(Appointed 8 December 2023)
M C Pringle
The Trustees, who are also Directors of the Charity for the purposes of the Companies Act 2006, present their report with the financial statements of the Charity for the year ended 31 March 2024. The Trustees have adopted the provisional Accounting and Reporting by the Charities Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015).
Company secretary
M L White
Independent examiner
Reid & Co Corporate Services Limited
Artemis House
4a Bramley Road
Mount Farm
Milton Keynes
MK1 1PT
Structure, governance and management
The organisation is a charitable company limited by guarantee, incorporated on 24th March 1999 and registered as a charity on 30 April 1999.
The Charity was created by its Memorandum of Association which established the Object and powers of the charitable company and is governed under its Articles of Association. Under these Articles the Board of Trustees are elected at the AGM to serve a period of three years, subject to ratification at each AGM.
Objectives and activities
The Objective of the Charity is to provide an Independent, Community Cinema benefitting the town of Buckingham and its environs. To screen a wide-ranging choice of film, both popular and cultural, for the engagement of all ages and sections of the community to advance education, skills, appreciation and understanding of the performing arts via film and digital technologies.
The Charity remains totally focused upon the ‘ The Film Place ’, having changed its name in March 2018 from the Buckingham Centre for The Arts.
Achievements and performance
2023 was a challenging and extraordinary year for us. We entered our second year at the Vinson Building, whilst was not all plain sailing, we overcome the challenges and obstacles presented to us with the unending help by members of the Joint Management Committee (JMC) and University Technical staff.
We welcomed Julie Brash to the JMC as our new Volunteer Co-ordinator and thank her for stepping up and her contribution thus far. We do now have a good strong group of volunteers in all three specialist areas (Team Leaders, Helpers and Projectionist).
Despite low audience numbers at the start of the financial year they have gradually increased significantly despite us showing at times (holiday periods) one film per week. This rise, we believe, is due to a number of reasons, more publicity, venue, mixture of genres of film and other offerings. Further, a number of ideas have been tried to increase numbers i.e. special events, classic nights, multi showing of blockbuster films, e.g. the Oscar nominations and wine sales certainly helped. However, we are always striving for ways to help boost audience figures.
We also, like most, have had higher operating costs to deal with, namely:
* Film Venue rental (additional this year)
* Film rental
* Confectionery costs
* Marketing costs
To help offset this we had to increase our admission prices, for which we had positive feedback and no objections from our audiences. Our booking system and cashless way of operating is working well for us and we receive good support from Ticket Source, our booking agent. We are still able to receive 'on the door' payment if necessary. Also there must be a thank you to all the financial support given and offered as grants and donations.
On the negative side 'Buckingham Day' was not good for us, a lot of work but no significant gain, also Buckingham Fringe week was fraught with logistical problems.
As always, we must extend our gratitude to the University for allowing us to use the Vinson Building and theatre facility for the showing of films. We have had some technical issues over the year in projection. Fortunately, these were mainly overcome by diligence, perseverance, knowledge and the use of technical terms by our two key technical projectionists. Thank you to them both, without whom here would be no Film Place.
Our success is also directly linked to the hard work of the team both JMC and our hard-working volunteers which I would like to personally thank every member for their energy, commitment and consistency driving our enterprise forward.
This year our plans include:
* Upgrade our projection - new laptop for digital downloads
* Look into future developments in technology
* Maintain a meaningful strategy
* Fund raising and grant
The will no doubt be other plans in the very early stages that will be shared as they materialise and we look forward to a successful prosperous new financial year.
Chair of Trustees and Chair of JMC
Financial review
The income resources for the year amounted to: £23,608 all of which were unrestricted. The Charity had an overall profit of £568 which, when added to unrestricted reserves at 31 March 2023 gave £30,476 to carry forward at 31 March 2024.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustees' annual report was approved on 24 July 2024 and signed on behalf of the board of trustees by:
M G Dalzell
Trustee
The Film Place
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of The Film Place
Year ended 31 March 2024
I report to the trustees on my examination of the financial statements of The Film Place ('the charity') for the year ended 31 March 2024.
Responsibilities and basis of report
As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act’).
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
2. the financial statements do not accord with those records; or
3. the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or
4. the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Reid & Co Corporate Services Limited Independent Examiner
Artemis House 4a Bramley Road Mount Farm Milton Keynes MK1 1PT
24 July 2024
The Film Place
Company Limited by Guarantee
Statement of Financial Activities
(including income and expenditure account)
Year ended 31 March 2024
2024
2023
Unrestricted funds
Total funds
Total funds
Note
£
£
£
Income and endowments
Donations and legacies
5
1,541
1,541
2,593
Other trading activities
6
22,067
22,067
24,195
--------
--------
--------
Total income
23,608
23,608
26,788
--------
--------
--------
Expenditure
Expenditure on charitable activities
7,8
23,040
23,040
26,773
--------
--------
--------
Total expenditure
23,040
23,040
26,773
--------
--------
--------
--------
--------
--------
Net income and net movement in funds
568
568
15
--------
--------
--------
Reconciliation of funds
Total funds brought forward
29,907
29,907
29,892
--------
--------
--------
Total funds carried forward
30,475
30,475
29,907
--------
--------
--------
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The Film Place
Company Limited by Guarantee
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
Fixed assets
Tangible fixed assets
13
1,142
1,293
Current assets
Stocks
14
220
325
Debtors
15
876
442
Cash at bank and in hand
30,770
28,344
--------
--------
31,866
29,111
Creditors: amounts falling due within one year
16
2,533
497
--------
--------
Net current assets
29,333
28,614
--------
--------
Total assets less current liabilities
30,475
29,907
--------
--------
Net assets
30,475
29,907
--------
--------
Funds of the charity
Unrestricted funds
30,475
29,907
--------
--------
Total charity funds
17
30,475
29,907
--------
--------
For the year ending 31 March 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 24 July 2024 , and are signed on behalf of the board by:
M G Dalzell
Trustee
The Film Place
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Yeomanry House, Hunter Street, Buckingham, MK18 1EG, Bucks.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
There is no uncertainty in relation to these financial statements.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: - income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. - legacy income is recognised when receipt is probable and entitlement is established. - income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. - income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: - expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. - expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. - other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and 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 recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
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:
Plant and machinery
-
25% reducing balance
Fixtures and fittings
-
25% reducing balance
Impairment of fixed assets
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. For the purposes of impairment testing, 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 largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
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 under the appropriate heading in the statement of financial activities in which the initial gain was recognised. 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 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.
4. Limited by guarantee
The company is limited by guarantee.
5. Donations and legacies
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Donations
Other donations and grants
1,468
1,468
2,497
2,497
Gift aid recoverable
73
73
96
96
-------
-------
-------
-------
1,541
1,541
2,593
2,593
-------
-------
-------
-------
6. Other trading activities
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Ticket sales
18,155
18,155
21,118
21,118
Advertising income
738
738
482
482
Confectionery sales
3,174
3,174
2,595
2,595
--------
--------
--------
--------
22,067
22,067
24,195
24,195
--------
--------
--------
--------
7. Expenditure on charitable activities by fund type
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Activity type 1
23,040
23,040
26,773
26,773
--------
--------
--------
--------
8. Expenditure on charitable activities by activity type
Activities undertaken directly
Total funds 2024
Total fund 2023
£
£
£
Activity type 1
23,040
23,040
26,773
--------
--------
--------
9. Net income
Net income is stated after charging/(crediting):
2024
2023
£
£
Depreciation of tangible fixed assets
398
470
Operating lease rentals
2,682
2,993
-------
-------
10. Independent examination fees
2024
2023
£
£
Fees payable to the independent examiner for:
Independent examination of the financial statements
387
300
----
----
11. Staff costs
The average head count of employees during the year was Nil (2023: Nil).
No employee received employee benefits of more than £60,000 during the year (2023: Nil).
12. Trustee remuneration and expenses
There were no trustees' remuneration or other benefits for the year ended 31 March 2022 or 31 March 2021.
13. Tangible fixed assets
Plant and machinery
Fixtures and fittings
Total
£
£
£
Cost
At 1 April 2023
1,719
4,115
5,834
Additions
299
299
Disposals
( 366)
( 366)
-------
-------
-------
At 31 March 2024
1,652
4,115
5,767
-------
-------
-------
Depreciation
At 1 April 2023
1,369
3,172
4,541
Charge for the year
162
236
398
Disposals
( 314)
( 314)
-------
-------
-------
At 31 March 2024
1,217
3,408
4,625
-------
-------
-------
Carrying amount
At 31 March 2024
435
707
1,142
-------
-------
-------
At 31 March 2023
350
943
1,293
-------
-------
-------
14. Stocks
2024
2023
£
£
Raw materials and consumables
220
325
----
----
15. Debtors
2024
2023
£
£
Trade debtors
565
Prepayments and accrued income
311
442
----
----
876
442
----
----
16. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
2,113
Accruals and deferred income
420
497
-------
----
2,533
497
-------
----
17. Analysis of charitable funds
Unrestricted funds
At 1 April 2023
Income
Expenditure
At 31 March 2024
£
£
£
£
General funds
29,907
23,608
(23,040)
30,475
--------
--------
--------
--------
At 1 April 2022
Income
Expenditure
At 31 March 2023
£
£
£
£
General funds
29,892
26,788
(26,773)
29,907
--------
--------
--------
--------
18. Analysis of net assets between funds
Unrestricted Funds
Total Funds 2024
£
£
Tangible fixed assets
1,142
1,142
Current assets
31,866
31,866
Creditors less than 1 year
(2,533)
(2,533)
--------
--------
Net assets
30,475
30,475
--------
--------
Unrestricted Funds
Total Funds 2023
£
£
Tangible fixed assets
1,293
1,293
Current assets
29,111
29,111
Creditors less than 1 year
(497)
(497)
--------
--------
Net assets
29,907
29,907
--------
--------