REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements |
for the Year Ended 31 December 2024 |
for |
French Film Festival Limited |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Unaudited Financial Statements |
for the Year Ended 31 December 2024 |
for |
French Film Festival Limited |
French Film Festival Limited |
Contents of the Financial Statements |
for the Year Ended 31 December 2024 |
Page |
Reference and Administrative Details | 1 |
Report of the Trustees | 2 | to | 3 |
Independent Examiner's Report | 4 |
Statement of Financial Activities | 5 |
Balance Sheet | 6 |
Notes to the Financial Statements | 7 | to | 11 |
French Film Festival Limited |
Reference and Administrative Details |
for the Year Ended 31 December 2024 |
TRUSTEES | R Mowe |
REGISTERED OFFICE |
REGISTERED COMPANY NUMBER |
REGISTERED CHARITY NUMBER |
INDEPENDENT EXAMINER | A H & Co Ltd |
Chartered Accountants |
6 Logie Mill |
Edinburgh |
Lothian |
EH7 4HG |
BANKERS | Bank of Scotland PLC |
38 St Andrews Square |
Edinburgh |
EH2 2YR |
French Film Festival Limited (Registered number: SC137686) |
Report of the Trustees |
for the Year Ended 31 December 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 December 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 2022). |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
The objective and activity of the charity is to present an annual French Film Festival across the United Kingdom. |
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
During the year under review, the charity successfully held a festival of French film across the United Kingdom. |
FINANCIAL REVIEW |
Principal funding sources |
The charity raises funds from a variety of sources including Creative Scotland, Unifrance and the French Institutes. The charity also raises funds from advertising and sponsorship in their annual programmes. |
Reserves policy |
The Statement of Financial Activities shows that the Charity has net outgoing resources of £2,587 (2023: net outgoing resources of £12,715). There was a surplus of reserves as at 31 December 2024 of £12,345 (2023: £14,932). |
Funds in deficit |
As at 31 December 2024 there were no funds in deficit (2023: none). |
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 company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up, each member is required to contribute an amount not exceeding £1. As at 31 December 2024 there were six members. |
Recruitment and appointment of new trustees |
New trustees are recruited and appointed in accordance with the provisions in the Memorandum and Articles of Association of the charity. |
Organisational structure |
The charity has two directors who meet regularly throughout the year. The board of directors is responsible for the overall governance of the French Film Festival Limited and for developing the charity's aims, objectives and goals in accordance with its Memorandum and Articles of Association and the needs of its members. |
The board is responsible for maintaining the financial viability of the French Film Festival Limited and for ensuring that the company complies with its legal obligations, including those arising from charity, company and employment law. The day to day administration and operation of the charity is conducted by the three directors. |
Induction and training of new trustees |
It is the company's policy to give new directors a full briefing on their obligations under charity law on the contents of the Trust Deed. New directors are also issued with a copy of the Office of Scottish Charity Regulator's (OSCR) 'Guidance for Charity Trustees'. |
Related parties |
French Film Festival Ltd did not receive or give funds to charities or any other organisation with which any of the directors are associated with. |
FUNDS HELD AS CUSTODIAN FOR OTHERS |
During the year ended 31 December 2024 the charity did not hold funds as custodian for others (2023: nil). |
French Film Festival Limited (Registered number: SC137686) |
Report of the Trustees |
for the Year Ended 31 December 2024 |
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. |
Approved by order of the board of trustees on |
Independent Examiner's Report to the Trustees of |
French Film Festival Limited (Registered number: SC137686) |
I report on the accounts for the year ended 31 December 2024 set out on pages five to eleven. |
Respective responsibilities of trustees and examiner |
The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity's 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 state whether particular matters have come to my attention. |
Basis of the independent examiner's report |
My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning 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 examiner's statement |
In connection with my examination, no matter has come to my attention : |
(1) | which gives me reasonable cause to believe that, in any material respect, the requirements |
- | to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and |
- | to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations |
have not been met; or |
(2) | to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. |
Calum Anderson CA CTA |
The Institute of Chartered Accountants of Scotland |
A H & Co Ltd |
Chartered Accountants |
6 Logie Mill |
Edinburgh |
Lothian |
EH7 4HG |
Date: ............................................. |
French Film Festival Limited |
Statement of Financial Activities |
(Incorporating an Income and Expenditure Account) |
for the Year Ended 31 December 2024 |
31.12.24 | 31.12.23 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 2 |
Other trading activities | 3 |
Total |
EXPENDITURE ON |
Charitable activities | 4 |
NET INCOME/(EXPENDITURE) | ( | ) | ( | ) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 14,932 |
CONTINUING OPERATIONS |
All income and expenditure has arisen from continuing activities. |
French Film Festival Limited (Registered number: SC137686) |
Balance Sheet |
31 December 2024 |
31.12.24 | 31.12.23 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 10 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 11 | ( | ) | ( | ) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 12 |
Unrestricted funds | 14,932 |
TOTAL FUNDS | 14,932 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006. |
The trustees acknowledge their responsibilities for |
(a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
These financial statements have been prepared in accordance with and delivered in accordance with the special provisions applicable to small charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
French Film Festival Limited |
Notes to the Financial Statements |
for the Year Ended 31 December 2024 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements of the charity, 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 in the UK and Republic of Ireland (FRS 102) (effective 1 January 2022)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended 2016). The financial statements have been prepared under the historical cost convention with the exception of investments which are included at market value. |
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. |
Governance costs |
Governance costs comprise all costs involving public accountability of the trust and its compliance with regulation and good practice. These costs include costs relating to statutory accounts preparation and legal fees together with an apportionment of overhead and support costs. |
Exemption from preparing a cash flow statement |
Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a small company. |
Value added tax |
The company is not registered for VAT and accordingly expenditure includes VAT where appropriate. |
Tangible fixed assets |
Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows: |
Computer Equipment - 25 % per annum |
Fixtures and Fittings - 20% per annum |
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease. |
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. |
Basic financial instruments |
The company 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 measured at their settlement value. |
Provisions |
Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation. |
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the balance sheet date, taking into account the risks and uncertainties surrounding the obligation. |
French Film Festival Limited |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2024 |
2. | DONATIONS AND LEGACIES |
31.12.24 | 31.12.23 |
£ | £ |
Grants |
Advertising | 450 | - |
3. | OTHER TRADING ACTIVITIES |
31.12.24 | 31.12.23 |
£ | £ |
Private Sponsorships |
Box Office | 20,560 | 8,843 |
4. | CHARITABLE ACTIVITIES COSTS |
Support |
Direct | costs (see |
Costs | note 5) | Totals |
£ | £ | £ |
French Film Festival | 78,577 | 5,699 | 84,276 |
5. | SUPPORT COSTS |
Governance |
costs |
£ |
French Film Festival | 5,699 |
Support costs, included in the above, are as follows: |
Governance costs |
31.12.24 | 31.12.23 |
French |
Film | Total |
Festival | activities |
£ | £ |
Accountancy | 2,204 | 1,769 |
Independent examination fee | 275 | 110 |
Bookkeeping & payroll | 3,220 | 2,720 |
5,699 | 4,599 |
6. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
31.12.24 | 31.12.23 |
£ | £ |
Deficit on disposal of fixed assets |
French Film Festival Limited |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2024 |
7. | TRUSTEES' REMUNERATION AND BENEFITS |
During the year remuneration of £6,250 was paid to R Mowe (2023: a payment of £12,500 was made to R Mowe). |
Trustees' expenses |
During the year, R Mowe was reimbursed £Nil (2023: £1,368) for Trust expenses. |
8. | EMPLOYEES |
The average number of employees during the year was 2 (2023: 3). |
9. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted |
fund |
£ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Other trading activities |
Total |
EXPENDITURE ON |
Charitable activities |
NET INCOME/(EXPENDITURE) | ( | ) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 14,932 |
10. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.24 | 31.12.23 |
£ | £ |
Trade debtors |
Accrued income |
French Film Festival Limited |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2024 |
11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.24 | 31.12.23 |
£ | £ |
Trade creditors |
Business charge card | 173 | 71 |
Social security and other taxes |
Accrued expenses |
12. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.1.24 | in funds | 31.12.24 |
£ | £ | £ |
Unrestricted funds |
General fund | 14,932 | (2,587 | ) | 12,345 |
TOTAL FUNDS | (2,587 | ) | 12,345 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 81,689 | (84,276 | ) | (2,587 | ) |
TOTAL FUNDS | ( | ) | (2,587 | ) |
Comparatives for movement in funds |
Net |
movement | At |
At 1.1.23 | in funds | 31.12.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 27,647 | (12,715 | ) | 14,932 |
TOTAL FUNDS | 27,647 | (12,715 | ) | 14,932 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 74,419 | (87,134 | ) | (12,715 | ) |
TOTAL FUNDS | 74,419 | (87,134 | ) | (12,715 | ) |
French Film Festival Limited |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2024 |
12. | MOVEMENT IN FUNDS - continued |
A current year 12 months and prior year 12 months combined position is as follows: |
Net |
movement | At |
At 1.1.23 | in funds | 31.12.24 |
£ | £ | £ |
Unrestricted funds |
General fund | 27,647 | (15,302 | ) | 12,345 |
TOTAL FUNDS | 27,647 | (15,302 | ) | 12,345 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 156,108 | (171,410 | ) | (15,302 | ) |
TOTAL FUNDS | 156,108 | (171,410 | ) | (15,302 | ) |
13. | RELATED PARTY DISCLOSURES |
In the year to 31st December 2024, remuneration of £6,250 was paid to R Mowe (2023: £12,500 remuneration paid to R Mowe). |
14. | ULTIMATE CONTROLLING PARTY |
There is no ultimate controlling party. |
15. | CAPITAL AND RESERVE |
The Company is limited by guarantees of £1 per member and has no share capital. At 31 December 2024 there were six members of the company and their total liability at that date was £6 (2023: seven members whose total liability was £7). |