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REGISTERED COMPANY NUMBER: 01409066 (England and Wales)
REGISTERED CHARITY NUMBER: 277415














Report of the Trustees and

Financial Statements for the Year Ended 31 March 2024

for

Rio Centre (Dalston) Limited(The)

Rio Centre (Dalston) Limited(The)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Reference and Administrative Details 1

Report of the Trustees 2 to 5

Report of the Independent Auditors 6 to 8

Statement of Financial Activities 9

Balance Sheet 10

Cash Flow Statement 11

Notes to the Cash Flow Statement 12

Notes to the Financial Statements 13 to 20

Rio Centre (Dalston) Limited(The)

Reference and Administrative Details
for the Year Ended 31 March 2024



TRUSTEES Ms S Chorley
A Andrews (resigned 9.7.24)
Ms T S Andrews (resigned 4.7.23)
G R Binette Deputy chair
Ms A L F Clark Treasurer
Ms F M Johnston
R Kirwan
Ms S H M Robertson
R S Ruprai Chair (resigned 24.7.23)


REGISTERED OFFICE 107 Kingsland High Street
London
E8 2PB


REGISTERED COMPANY
NUMBER
01409066 (England and Wales)


REGISTERED CHARITY
NUMBER
277415


SENIOR STATUTORY AUDITOR Mary E Ryan


AUDITORS Ark Accountancy Limited
Chartered Certified Accountant &
Statutory Auditor
31 Cheam Road
Epsom
Surrey
KT17 1QX

Rio Centre (Dalston) Limited(The) (Registered number: 01409066)

Report of the Trustees
for the Year Ended 31 March 2024


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 provisions of Accounting and Reporting by 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 2019).

OBJECTIVES AND ACTIVITIES
Objectives and aims
The Rio is a registered charity incorporated as a Company Limited by Guarantee. The organisation's day-to-day activities are carried out by a staff team led by Interim Executive Director, Tim Stevens, who replaced Oliver Meek following his decision to stand down after nearly a decade in the role. The Rio has a workforce of nearly 30 and does not make use of "zero hours" contracts.

The Charity's core activity is to run the Rio Cinema, an independent cinema with two screening rooms, and a unique policy of community access and local involvement. The cinema is traditionally open 364 days of the year, and its wide-ranging and varied programme typically presents approximately 1,300 screenings annually incorporating: main feature films, programmes for children and older people, special events, festivals and independent films. The Rio provides a focal point for the area along with convenient and economical access to cinema for a wide range of Londoners, regularly offering discounted tickets both to the general public and targeted at specific groups.

Public benefit
The Directors have considered the Charity Commission guidance on public benefit and consider that the activities of the charity provide public benefit within the following charitable purposes:

The Advancement Of The Arts, Culture, Heritage Or Science
The Rio promotes an appreciation of the best of world cinema for the local community in the London Borough of Hackney and neighbouring boroughs. Through participation in film festivals showcasing work from around the world, the Rio demonstrates its commitment to providing local residents with as diverse a programme of high-quality cinema as possible. Partnerships with other independent cinemas, arts festivals and a local museum help to keep alive and advance a thriving independent arts sector in London.

The Advancement Of Citizenship Or Community Development
Cinema itself is a communal experience, an accessible art form that attracts a diverse and wide range of people. The Rio provides a home to film festivals that reflect the diversity of the local population, featuring films that may otherwise go unseen in the UK. These screenings provide an opportunity to learn about one another's cultures and heritage, aiding and developing community relations. The Rio also provides an outlet for local community organisations and charities to promote their causes, both through public screenings and our education programme.

The Advancement Of Education
The Rio's extensive programme of schools screenings provides an invaluable adjunct to the classwork in local schools and is viewed by teachers as a significant educational resource.

The Relief Of Those In Need, By Reason Of Youth, Age, Ill-Health, Disability, Financial Hardship Or Other Disadvantage
The Rio is determined to make film as accessible as possible to the local community, and therefore seeks to provide low-cost access to the cinema for people on benefits and for children to facilitate the widest possible access to its services. The Rio's monthly Classic Matinee aims to reduce feelings of isolation for older people and enrich life of those in care, providing local older people with an opportunity to socialise, enjoy a film and also free tea and biscuits. A community discount is available to appropriate organisations and individuals looking to hire out the cinema for their projects.


Rio Centre (Dalston) Limited(The) (Registered number: 01409066)

Report of the Trustees
for the Year Ended 31 March 2024

ACHIEVEMENT AND PERFORMANCE
Charitable activities
The year presented considerable financial and operational difficulties for the Rio, though these were hardly unique in the cinema sector as a whole. The Board reacted promptly and decisively to mitigate challenges, balancing cost reduction with income generation. With the start of an intensive recruitment process for a permanent new Executive Director, and transition to a leaner operating model, the year can be characterised as one of transition and setting the stage for improved performance next year.

Charitable activities
The charity maintained its core activity is screening films seven days a week as one of only two independent cinemas in Hackney - and as the largest and most affordable cinema in one of London's largest inner-city boroughs. It managed to preserve affordability in its pricing structure across the week, offering everything from £5 tickets to Hackney library card holders to discount codes for local community groups and £2.50 tickets for our ever-popular "classic matinee" for seniors, which also includes free tea and biscuits.

At the same time, the Rio continued to offer a film programme that is second to none: international and specialised. Highlights included Barbie and Oppenheimer which generated record attendance and food and beverage revenue during summer 2023. Poor Things, Priscilla, and All of Us Strangers performed well in January and February 2024. We also hosted the London Short Film Festival, Doc N Roll Film Festival, and Fringe! Queer Film and Arts Fest as well as many other curated clubs and special events.

Staffing
After nearly a decade of leading the cinema, Executive Director Oliver Meek, tendered his resignation in October. The Board agreed a long transition period with Mr Meek and he continued to act as senior management until February. During this time he conducted an extensive hand over to Interim Executive Director, Tim Stevens. Tim has a long history of working at the Rio and took over leadership of the cinema from January 2024, overseeing financial performance, regular programming and summer special events, while also preparing for the new Executive Director.

In December, the Board began recruitment for a new Executive Director. Advertisements were posted in local and national outlets on 9 January and 29 applications were received. The first interview stage took place the week of 18 March 2024 with second interviews in the week of 10 April 2024. After final interviews at the beginning of May, the Board offered the position to Rosie Greatorex and her contract was signed at the end of that month. Ms Greatorex was the Executive Director of the Lexi, an independent community cinema based in North West London. She started work at the Rio in September and took over from Interim Executive Director Tim Stevens.

The Board's Staffing Subcommittee met with staff regularly through these changes and engaged with staff concerns driven by poor trading conditions, the SAG-AFTRA industrial action and leadership transition. Throughout this period, the Board sought external HR support to assist with restructuring and cultural change.


Rio Centre (Dalston) Limited(The) (Registered number: 01409066)

Report of the Trustees
for the Year Ended 31 March 2024

FINANCIAL REVIEW
Financial position
The Rio faced significant financial challenges throughout 2023, primarily stemming from reduced income and increased costs.

Reduced attendance: While blockbuster films like Barbie and Oppenheimer brought in record attendance and revenue during the summer, attendance for most other films was weak. This overall decline significantly impacted box office income.

Increased costs: The cinema experienced rising costs for various supplies, mirroring trends within the entertainment and hospitality sectors. A long-term fixed price electricity contract, that had shielded Rio from energy inflation, expired during the year. Renewal was in line with market conditions but a significant increase on previous prices.

SAG-AFTRA/Writers' Guild strikes: The Hollywood actors' and writers' strike significantly hampered the production and release of new films, leading to supply disruptions that negatively affected programming and consequently revenue. The strike also threatened to delay or cancel the 2024 awards season, which in turn impacted marketing, promotions, and ticket sales.

Cost of living crisis: The broader economic downturn and increased cost of living affected ticket sales across the cinema sector, further impacting the Rio's income.

Reduced consultancy services: The Rio provides services (consultancy, programming, accounting, marketing) to other independent cinemas. This allows us to support our community of fellow independent cinemas in London whilst generating additional income to subsidise the operation and improvement of the Rio Cinema. Demand for our services reduced over the year, as cinemas cut costs and as our staff profile changed.



.

Reserves policy
trustees deem it prudent to hold three months running costs in current assets. With the significant challenges faced in 2023/24, we have not been in a position to maintain full reserves throughout the period.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document - a deed of trust - and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

The charity owns a subsidiary limited company that is used to provide services (consultancy, programming, accounting, marketing) to other independent cinemas. This allows us to support our community of fellow independent cinemas in London whilst generating additional income to subsidise the operation and improvement of the Rio Cinema.

STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees (who are also the directors of Rio Centre (Dalston) Limited(The) for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

-select suitable accounting policies and then apply them consistently;
-observe the methods and principles in the Charity SORP;
-make judgements and estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.


Rio Centre (Dalston) Limited(The) (Registered number: 01409066)

Report of the Trustees
for the Year Ended 31 March 2024


STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

-there is no relevant audit information of which the charitable company's auditors are unaware; and
-the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.

AUDITORS
The auditors, Ark Accountancy Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Approved by order of the board of trustees on 19 December 2024 and signed on its behalf by:





R Kirwan - Trustee

Report of the Independent Auditors to the Members of
Rio Centre (Dalston) Limited(The)

Opinion
We have audited the financial statements of Rio Centre (Dalston) Limited(The) (the 'charitable company') for the year ended 31 March 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the charitable company's affairs as at 31 March 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have identified some material potential uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Although the charity is currently a going concern, for this to continue it needs to obtain further grant funding or loan support.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. support.

Other information
The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the Trustees has been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Rio Centre (Dalston) Limited(The)


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of trustees' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees.

Responsibilities of trustees
As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance width laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Report of the Independent Auditors to the Members of
Rio Centre (Dalston) Limited(The)


Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Mary E Ryan (Senior Statutory Auditor)
for and on behalf of Ark Accountancy Limited
Chartered Certified Accountant &
Statutory Auditor
31 Cheam Road
Epsom
Surrey
KT17 1QX

19 December 2024

Rio Centre (Dalston) Limited(The)

Statement of Financial Activities
for the Year Ended 31 March 2024

31.3.24 31.3.23
Unrestricted Restricted Total Total
funds funds funds funds
Notes £    £    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 2 45,572 - 45,572 23,937

Charitable activities 4
Cinema 947,320 - 947,320 851,254

Investment income 3 465 - 465 537
Other income 92,364 - 92,364 60,315
Total 1,085,721 - 1,085,721 936,043

EXPENDITURE ON
Raising funds 5 387,633 - 387,633 225,474

Charitable activities 6
Cinema 855,628 18,365 873,993 742,176
Total 1,243,261 18,365 1,261,626 967,650

NET INCOME/(EXPENDITURE) (157,540 ) (18,365 ) (175,905 ) (31,607 )


RECONCILIATION OF FUNDS
Total funds brought forward 90,123 296,798 386,921 418,528

TOTAL FUNDS CARRIED FORWARD (67,417 ) 278,433 211,016 386,921

Rio Centre (Dalston) Limited(The) (Registered number: 01409066)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Unrestricted Restricted Total Total
funds funds funds funds
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 13 93,747 254,901 348,648 396,851

CURRENT ASSETS
Stocks 14 2,687 - 2,687 5,352
Debtors 15 42,358 - 42,358 45,577
Cash at bank and in hand 398 23,532 23,930 91,035
45,443 23,532 68,975 141,964

CREDITORS
Amounts falling due within one year 16 (179,219 ) - (179,219 ) (117,150 )

NET CURRENT ASSETS/(LIABILITIES) (133,776 ) 23,532 (110,244 ) 24,814

TOTAL ASSETS LESS CURRENT
LIABILITIES

(40,029

)

278,433

238,404

421,665

CREDITORS
Amounts falling due after more than one year 17 (27,388 ) - (27,388 ) (34,744 )

NET ASSETS (67,417 ) 278,433 211,016 386,921
FUNDS 19
Unrestricted funds (67,417 ) 90,123
Restricted funds 278,433 296,798
TOTAL FUNDS 211,016 386,921

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.


The financial statements were approved by the Board of Trustees and authorised for issue on 19 December 2024 and were signed on its behalf by:





R Kirwan - Trustee

Rio Centre (Dalston) Limited(The)

Cash Flow Statement
for the Year Ended 31 March 2024

31.3.24 31.3.23
Notes £    £   

Cash flows from operating activities
Cash generated from operations 1 (49,353 ) 27,871
Interest paid (28 ) (274 )
Tax paid (625 ) -
Net cash (used in)/provided by operating activities (50,006 ) 27,597

Cash flows from investing activities
Purchase of tangible fixed assets (10,209 ) (103,667 )
Interest received 465 537
Net cash used in investing activities (9,744 ) (103,130 )

Cash flows from financing activities
Loan repayments in year (7,355 ) (12,376 )
Net cash used in financing activities (7,355 ) (12,376 )

Change in cash and cash equivalents in
the reporting period

(67,105

)

(87,909

)
Cash and cash equivalents at the
beginning of the reporting period

91,035

178,944
Cash and cash equivalents at the end of
the reporting period

23,930

91,035

Rio Centre (Dalston) Limited(The)

Notes to the Cash Flow Statement
for the Year Ended 31 March 2024

1. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING
ACTIVITIES
31.3.24 31.3.23
£    £   
Net expenditure for the reporting period (as per the Statement of
Financial Activities)

(175,905

)

(31,607

)
Adjustments for:
Depreciation charges 58,412 63,618
Interest received (465 ) (537 )
Interest paid 28 274
Decrease in stocks 2,665 1,659
Decrease/(increase) in debtors 3,844 (20,088 )
Increase in creditors 62,068 14,552
Net cash (used in)/provided by operations (49,353 ) 27,871


2. ANALYSIS OF CHANGES IN NET FUNDS/(DEBT)

At 1.4.23 Cash flow At 31.3.24
£    £    £   
Net cash
Cash at bank and in hand 91,035 (67,105 ) 23,930
91,035 (67,105 ) 23,930

Debt
Debts falling due within 1 year (12,648 ) (1 ) (12,649 )
Debts falling due after 1 year (34,744 ) 7,356 (27,388 )
(47,392 ) 7,355 (40,037 )
Total 43,643 (59,750 ) (16,107 )

Rio Centre (Dalston) Limited(The)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by 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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure
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 a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.


Short leasehold - at varying rates on cost
Fixtures and fittings - 10% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
The charity is exempt from corporation tax on its charitable activities.

Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Rio Centre (Dalston) Limited(The)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. DONATIONS AND LEGACIES
31.3.24 31.3.23
£    £   
Donations 41,197 23,937
Gift aid tax refunds 4,375 -
45,572 23,937

3. INVESTMENT INCOME
31.3.24 31.3.23
£    £   
Deposit account interest 465 537

4. INCOME FROM CHARITABLE ACTIVITIES
31.3.24 31.3.23
Activity £    £   
Film takings Cinema 613,790 432,146
Bar & confectionary takings Cinema 237,783 166,045
Display & screen advertising Cinema 38,510 19,599
Hire, booking fees etc Cinema 54,737 102,094
Other grants Cinema 2,500 131,370
947,320 851,254

Grants received, included in the above, are as follows:
31.3.24 31.3.23
£    £   
British Film Institute 2,500 108,246
London Borough of Hackney - 11,214
Notts Media Centre - 6,650
Film London - 5,260
2,500 131,370

5. RAISING FUNDS

Raising donations and legacies
31.3.24 31.3.23
£    £   
Film royalties 287,539 160,376
Confectionary costs 18,140 13,396
Bar costs 79,649 51,702
Mags & merchandise 2,305 -
387,633 225,474


Rio Centre (Dalston) Limited(The)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. CHARITABLE ACTIVITIES COSTS
Grant
funding of
activities Support
Direct (see note costs (see
Costs 7) note 8) Totals
£    £    £    £   
Cinema 826,111 457 47,425 873,993

7. GRANTS PAYABLE
31.3.24 31.3.23
£    £   
Cinema 457 3,155

8. SUPPORT COSTS
Governance
Finance costs Totals
£    £    £   
Cinema 41,925 5,500 47,425

9. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

31.3.24 31.3.23
£    £   
Auditors' remuneration 4,800 4,800
Depreciation - owned assets 58,412 63,618
Hire of plant and machinery 2,294 13,260
Other operating leases 11,496 11,500

10. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.


Trustees' expenses

One director was reimbursed expenses of £82 in the year.


Rio Centre (Dalston) Limited(The)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

11. STAFF COSTS
31.3.24 31.3.23
£    £   
Wages and salaries 511,186 415,156
Social security costs 28,633 24,481
Other pension costs 12,137 10,577
551,956 450,214

The average monthly number of employees during the year was as follows:

31.3.24 31.3.23
Film production staff (average) FTE 19 30 29

No employees received emoluments in excess of £60,000.

12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
funds funds funds
£    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 23,937 - 23,937

Charitable activities
Cinema 851,254 - 851,254

Investment income 537 - 537
Other income 60,315 - 60,315
Total 936,043 - 936,043

EXPENDITURE ON
Raising funds 225,474 - 225,474

Charitable activities
Cinema 723,811 18,365 742,176
Total 949,285 18,365 967,650

NET INCOME/(EXPENDITURE) (13,242 ) (18,365 ) (31,607 )


RECONCILIATION OF FUNDS
Total funds brought forward 103,365 315,163 418,528

TOTAL FUNDS CARRIED FORWARD 90,123 296,798 386,921


Rio Centre (Dalston) Limited(The)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

13. TANGIBLE FIXED ASSETS
Fixtures
Short and
leasehold fittings Totals
£    £    £   
COST
At 1 April 2023 389,580 874,937 1,264,517
Additions - 10,209 10,209
At 31 March 2024 389,580 885,146 1,274,726
DEPRECIATION
At 1 April 2023 227,981 639,685 867,666
Charge for year 11,400 47,012 58,412
At 31 March 2024 239,381 686,697 926,078
NET BOOK VALUE
At 31 March 2024 150,199 198,449 348,648
At 31 March 2023 161,599 235,252 396,851

14. STOCKS
31.3.24 31.3.23
£    £   
Stocks 2,687 5,352

15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 13,437 24,766
Other debtors 19,699 12,816
Accrued income 3,167 7,500
Tax 625 -
Prepayments 5,430 495
42,358 45,577


Rio Centre (Dalston) Limited(The)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts (see note 18) 10,649 10,648
Other loans (see note 18) 2,000 2,000
Trade creditors 84,416 51,389
Social security and other taxes 9,963 9,960
VAT 38,479 27,110
Other creditors 12,071 7,243
Accrued expenses 21,641 8,800
179,219 117,150

17. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans (see note 18) 18,055 23,411
Other loans (see note 18) 9,333 11,333
27,388 34,744

18. LOANS

An analysis of the maturity of loans is given below:

31.3.24 31.3.23
£    £   
Amounts falling due within one year on demand:
Bank loans 10,649 10,648
Other loans 2,000 2,000
12,649 12,648
Amounts falling between one and two years:
Bank loans - 1-2 years 10,648 10,648
Other loans - 1-2 years 2,000 2,000
12,648 12,648
Amounts falling due between two and five years:
Bank loans - 2-5 years 7,407 10,648
Other loans - 2-5 years 6,000 6,000
13,407 16,648
Amounts falling due in more than five years:

Repayable by instalments:
Bank loans more 5 yr by instal - 2,115
Other loans more 5yrs instal 1,333 3,333
1,333 5,448


Rio Centre (Dalston) Limited(The)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

19. MOVEMENT IN FUNDS
Net Transfers
movement between At
At 1.4.23 in funds funds 31.3.24
£    £    £    £   
Unrestricted funds
General fund 90,123 (144,434 ) (13,106 ) (67,417 )
RioGeneration Fund - (13,106 ) 13,106 -
90,123 (157,540 ) - (67,417 )
Restricted funds
Revaluation Reserve 181,197 (11,400 ) - 169,797
RioGeneration Fund 115,601 (6,965 ) - 108,636
296,798 (18,365 ) - 278,433
TOTAL FUNDS 386,921 (175,905 ) - 211,016

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 1,085,721 (1,230,155 ) (144,434 )
RioGeneration Fund - (13,106 ) (13,106 )
1,085,721 (1,243,261 ) (157,540 )
Restricted funds
Revaluation Reserve - (11,400 ) (11,400 )
RioGeneration Fund - (6,965 ) (6,965 )
- (18,365 ) (18,365 )
TOTAL FUNDS 1,085,721 (1,261,626 ) (175,905 )


Comparatives for movement in funds

Net Transfers
movement between At
At 1.4.22 in funds funds 31.3.23
£    £    £    £   
Unrestricted funds
General fund 116,471 (136 ) (26,212 ) 90,123
RioGeneration Fund (13,106 ) (13,106 ) 26,212 -
103,365 (13,242 ) - 90,123
Restricted funds
Revaluation Reserve 192,597 (11,400 ) - 181,197
RioGeneration Fund 122,566 (6,965 ) - 115,601
315,163 (18,365 ) - 296,798
TOTAL FUNDS 418,528 (31,607 ) - 386,921

Rio Centre (Dalston) Limited(The)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

19. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 936,043 (936,179 ) (136 )
RioGeneration Fund - (13,106 ) (13,106 )
936,043 (949,285 ) (13,242 )
Restricted funds
Revaluation Reserve - (11,400 ) (11,400 )
RioGeneration Fund - (6,965 ) (6,965 )
- (18,365 ) (18,365 )
TOTAL FUNDS 936,043 (967,650 ) (31,607 )

20. RELATED PARTY DISCLOSURES

Anthony Andrews is a director of We are Parable which was reimbursed expenses of £381 in the year. Selina Robertson is involved in Club des Femmes which was reimbursed expenses of £450 in the year.