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Registered number:
(A Company Limited by Guarantee)
FOR THE YEAR ENDED 31 DECEMBER 2024
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FILM DISTRIBUTORS' ASSOCIATION LIMITED
(A Company Limited by Guarantee)
ABOUT FILM DISTRIBUTORS' ASSOCIATION
FOR THE YEAR ENDED 31 DECEMBER 2024
The Chief Executive Officer presents his statement for the period.
Who We Are
The Film Distributors’ Association is the oldest film distributor trade body in the world, and since its formation in 1915 has represented the interests of film distribution companies which acquire, market and release films to cinema audiences in the UK and Ireland. Throughout its history, the FDA’s mission has been to actively support its member companies with all of the assistance and advocacy they need, in order to maximise their individual business opportunities and reach the broadest audience possible. Regular interaction with numerous industry partners allows the FDA to represent its members, whilst working alongside key media outlets and film education providers. All of their success is fundamental to maintaining a healthy film sector and the creative industries overall. Our Activity To fulfil its aims and serve member’s interests best, the FDA delivers an all-encompassing programme of five core inter-related workstreams: Policy & Resources – to present a coherent and positive voice for the UK and Irish distribution sector Content Protection – to safeguard copyright and eradicate film piracy sourced from UK and Irish cinemas Media Services – to fully service all membership requirements and all branches of the media Audience Development – to better understand audiences, and to excite and inspire the cinemagoing habit Industry Training – to offer industry entry level opportunities and develop future leadership potential. The Team Andy Leyshon is the FDA’s Chief Executive and responsible to the FDA Council. Andy leads the highly effective FDA team with three further salaried staff covering all aspects of work including communications, marketing, press, social media and content protection. The other three members of the FDA team are Alex Davies (Head of Media Services, Social and Events), Geraldine Moloney (Senior Advisor) and Simon Brown (Director of the Film Content Protection Agency). Alongside the Association’s four full-time employees, the FDA also regularly utilises and works with a number of external specialists and consultants throughout the year as and when the need arises.
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FILM DISTRIBUTORS' ASSOCIATION LIMITED
(A Company Limited by Guarantee)
FDA COUNCIL REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
UK and Irish cinema box office surpassed £1bn in 2024, with receipts exceeding the post-pandemic high-water mark for a second consecutive year.
Final 2024 box office totalled £1,065m (vs. £1,063m in 2023, +0.2%) achieving parity with last year as results improved significantly on receipts from the pandemic period. Territory admissions reached 138.3m (vs. 135.1m in 2023, +2.3%) with exhibition operators enjoying a welcome rise in cinema footfall. The average ticket price reached £7.71 (vs. £7.86 in 2023, -2.0%), the second highest average ticket price ever recorded in the territory. 1,114 titles were released in cinemas across the year (vs. 1,015 in 2023). The top 10 films of 2024 collectively grossed £435.1m, representing 41% of overall box office. Wicked, Inside Out 2 and Deadpool & Wolverine were the top 3 titles of the year, grossing £177.8m between them and accounting for 17% of the year’s total returns. Q4 was 2024’s strongest box office period. Accounting for 31% of the year’s overall receipts, the winter months saw the release of 5 of the top 10 films of the year – Wicked, Moana 2, Paddington in Peru, Mufasa: The Lion King and Gladiator II. Walt Disney was the no.1 distributor with 21% market share, 19 new releases and £221.9m box office. Universal took the second spot with 20% market share, 30 new releases and £206.5m box office. Warner Bros. claimed third position with 16% market share, 25 new releases and £173.5m box office.
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FILM DISTRIBUTORS' ASSOCIATION LIMITED
(A Company Limited by Guarantee)
FDA COUNCIL REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Worldwide box office saw its first post-pandemic dip in 2024, posting $30.0bn (vs. $33.9bn in 2023, -12%) due in part to the ongoing post-strike recovery of the Hollywood supply chain and reduced receipts in China. The UK and Ireland was the third best performing territory, delivering 5% of box office results from just 1% of the world’s population. Walt Disney was the no.1 distributor grossing $5.5bn, including top 3 films Inside Out 2 ($1.7bn), the first animated feature to cross the $1bn mark; Deadpool & Wolverine ($1.3bn); and Moana 2 ($1.0bn).
International box office (worldwide gross minus US/Canada) totalled $21.2bn (vs. $24.8bn in 2023, -15%) accounting for 71% of global receipts. Apart from the UK and Ireland and France, the top 10 International territories all saw drops in box office with China experiencing the toughest dip at 23%, whilst India dropped 3% yet still posted its second best box office year to date. Of the International top 10 films, seven came from the US and three from China. The US/Canada was the top grossing box office territory of 2024 achieving $8.8bn (vs. $9.1bn in 2023, -3%) and accounting for 29% of global receipts. Admissions were estimated at 800m (vs. 830m in 2023, -4%). Walt Disney was the top performing distributor with domestic earnings of over $2.2bn and a 25% market share thanks to a slate of big hitters led by no.1 film Inside Out 2. Universal were second with $1.89bn and 20% market share. Further market data and insights are published in the FDA Yearbook and at filmdistributorsassociation.com
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FILM DISTRIBUTORS' ASSOCIATION LIMITED
(A Company Limited by Guarantee)
FDA COUNCIL REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
The FDA’s membership currently comprises 49 film distributors operating in the UK and Ireland.
Member companies include the largest studios and numerous independent players, with the FDA unique amongst international film distribution trade bodies with its diverse mix of associates. The FDA Council is made up of Managing Directors from each member company and the group meets regularly to consider matters of interest to the sector and the wider industry. New distributor applications are regularly considered against key membership criteria. The current FDA Council members are as follows:
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FILM DISTRIBUTORS' ASSOCIATION LIMITED
(A Company Limited by Guarantee)
FDA COUNCIL REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
As the lead advocate for film distribution in the UK and Ireland, the FDA’s mission is to champion the theatrical release market, whilst providing our member companies and other contacts with all of the support that they need to make the most of their individual business opportunities. To achieve its aims and best serve members’ interests, the FDA manages an all-encompassing set of five core interrelated workstreams:
1. Policy & Resources Purpose: To present a coherent and positive voice for the UK and Irish distribution sector The FDA represents its membership’s needs and interests in the diverse and constantly evolving film industry landscape, collaborating with key partners on areas of interest and policy. 2024 proved to be a particularly busy year with much of the focus directed toward efforts to build better support for independent film in order to reverse a long-standing pattern of decline. Throughout the year the FDA Council (comprising senior leaders from member companies) and other FDA working groups (formed from member company specialists) met to discuss generic matters of interest and concern. Over 100 email Circulars were also disseminated across 2024, keeping members regularly informed of all relevant news matters and FDA activity. The annual FDA Yearbook continued to be the definitive source of market information about the territory. It covers a broad spectrum of information including detailed cinemagoing statistics, analysis and trends, plus insight into international and home entertainment markets. There is also a useful almanac designed to aid those with an interest in the distribution sector. One of the FDA’s most important ongoing collaborations was with its exhibition counterpart, the UK Cinema Association (UKCA). Along with an independent chair, the FDA and UKCA are co-directors of Cinema First, the cross-industry body charged with promoting cinemagoing in the UK. The two associations also sit on the Film Complaints Panel and Audio Visual Committee. The FDA continues to work closely with the BFI, the UK’s lead film agency with government. In 2024 the FDA also gave oral evidence to the CMS Inquiry into British Film, presenting a united industry position alongside PACT (Producers Alliance for Cinema and Television) and the UKCA. The FDA was also involved with various British Screen Forum meetings and papers. Regular quarterly meetings with the BBFC (British Board of Film Classification) occurred with healthy member company engagement on several matters. International alliances remained important too, and as a board member of FIAD (International Federation of Film Distributors’ and Publishers’ Association) the FDA attended key meetings in Berlin, Cannes and Brussels in 2024. 2. Content Protection Purpose: To safeguard copyright and eradicate film piracy sourced from UK and Irish cinemas The FDA’s Film Content Protection Agency (FCPA) operates at the centre of all IP protection and anti-piracy efforts/measures in the territory. Bringing asset integrity to the fore, the FCPA is the distribution sector’s main contact and control point. It is estimated that IP theft impacts the UK and Irish creative industries in excess of £500m each year. Throughout 2024 the FCPA continued its nationwide training programme, delivering 48 regional sessions on anti-piracy awareness and vigilance to over 1,500 cinema staff. Alongside the regular in-field sessions, the FCPA also issued 8 VRAs (Vulnerable Release Alert) to cinemas, where films were territory first or early release titles deemed most at risk from piracy.
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FILM DISTRIBUTORS' ASSOCIATION LIMITED
(A Company Limited by Guarantee)
FDA COUNCIL REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
The FCPA offers a rewards scheme to cinema employees who demonstrate vigilance and anti-piracy interventions. In 2024 three people were recognised for their efforts, with numerous others pending. The FCPA also hosts a quarterly online quiz for cinema staff, and in Q4 saw over 7,000 entrants after partnering with cinema technology company Omnex to double the prize pot. A vital collaboration with the MPA (Motion Picture Association) continued, with a shared intelligence and investigative asset and two PIPCU (Police Intellectual Property Crime Unit) secondees. Other good law enforcement and IP body partners included various ROCUs (Regional Organised Crime Units), IPO (Intellectual Property Office), The Industry Trust and Alliance for Intellectual Property. In 2024 the FCPA was involved in the professional investigation, intelligence gathering and research of 105 in-cinema illegal recording incidents, with seven arrests and five police cautions. One pirated audiocam was traced to a Glasgow cinema and work is ongoing with Police Scotland. The FCPA also used Cyber Theft Watch as an online scan and take-down service for members’ compromised assets. The FCPA continued to aid Law Enforcement bodies in cases concerning the unlawful sale and distribution of piracy related items, with the examination of counterfeit discs (DVD & Blu-ray) and illicit streaming devices (ISDs). 2024 saw several significant criminal prosecutions including a 20-month prison sentence for a man who produced and sold counterfeit DVDs valued at £150,000. 3. Media Services Purpose: To fully service all member company requirements and all branches of the media The FDA acts as the authoritative voice of comprehensive theatrical film release information, contacts and data in the territory for all interested media, researchers and policymakers. Market information is collated and regularly shared with key contacts on a weekly basis to help ensure the most efficient film release practices and processes are achieved in UK and Irish cinemas. A fully serviced Media Centre is available on the FDA website and accessible to all FDA member company accredited journalists. The Media Centre holds distributor contact details, media screening protocols and up to date film screening information along with press screening schedules for Scottish and Welsh journalists in Glasgow and Cardiff respectively. The FDA website also hosts a Members Area that includes useful information about best screening practices, film release notification forms and a useful industry screening calendar. The screening calendar is designed as a space where distributors may list their upcoming pre-release premiere screenings and exists to aid distributors in avoiding potential clashes for publicity coverage. FDA member company Publicity Director meetings were held throughout the year to discuss matters of interest and concern. These gatherings served as a useful forum for member companies to discuss generic publicity matters and best industry practices and proved to be a very useful conduit for regular sector interaction with BAFTA, film festivals and journalists. In 2024 the FDA facilitated 240 critics’ week-of-release screenings, 68 official FDA media screenings and 61 West End red carpet events, all aided by a check-in App and Premiere calendar. The FDA also continued its programme of press shows in Glasgow (75 screenings for Scottish film critics) and Cardiff (24 screenings for Welsh journalists). Continuing a fruitful partnership with Film London, the FDA part-sponsored the annual Slate Days event, where distributors spent two days presenting their upcoming slates and meeting with exhibition partners. The FDA also maintained its long-standing association with the Royal Film Society, liaising on members’ behalf to organise screenings for the Royal Household.
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FILM DISTRIBUTORS' ASSOCIATION LIMITED
(A Company Limited by Guarantee)
FDA COUNCIL REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
4. Audience Development Purpose: To better understand audiences, and to excite and inspire the cinemagoing habit Promoting the cinemagoing habit in an ever competitive and crowded viewing landscape remains a key priority for the FDA. Understanding and engaging with consumers is vital if we are to help secure potential growth and long-term viability for the cinema sector. With regular sector interaction across the year, our aim is to try and understand audiences and what drives them. The FDA’s social media presence continues to broaden, as we further connect audiences with film and cinema. 2024 saw engagement improve with 13.4k followers – 4.8k X, 3.6k Instagram, 3.1k LinkedIn and 1.9k Facebook. The FDA website also saw a total of 3.8m visits across the full year, with a healthy 143k new users choosing to engage with the Association. In partnership with FutureLearn and The Film Space, the FDA continued its free online offer with three courses – Connecting Films with Audiences, A Beginner’s Guide to Film Genre and How to Read a Film – all providing useful insight into the film industry. In total, 34,000 participants have enrolled on the courses with an average 4.8 star-rating and great positive feedback. As a director of Cinema First, the FDA helped drive cross-industry activity. This included further insight with another wave of the established Entertainment and Attitudes Tracker; and helping successfully implement and promote the territory’s third consecutive National Cinema Day, which delivered 1.1m admissions from 712 participating cinemas. The long-running film industry partnership with Compare the Market saw the Meerkat Movies promotion in its 10th year of operation. The unique 2-for-1 customer rewards offer on Tuesdays and Wednesdays has become firmly established as a key part of the UK cinemagoing week, delivering a healthy flow of incremental cinema admissions over the last decade. The FDA remained committed to developing the appeal of cinema to a youthful demographic, in particular sponsoring (via Cinema First) the Into Film Festival. Improving cinema accessibility is also a key focus, and the FDA sits on the industry Access Working Group, as well as part-funding the subtitled screenings service YourLocalCinema. 5. Industry Training Purpose: To offer industry entry level opportunities and develop future leadership potential Continuous access to new talent is essential for distribution and the film industry. Finding fresh minds and new creativity is the best means of regularly renewing the workforce and thinking. The FDA’s comprehensive training and development programme fosters new blood and career progression, all with an underlying aim to help improve diversity and inclusion in the sector. The FDA Paid Trainee scheme entered its 10th year of operation with a new cohort of six trainees undertaking nine-month work placements at five member companies. Designed to make the sector workforce more reflective of modern society, 70 people have been identified, recruited and gone on to complete the scheme over the last decade, with a 92% employment rate. FDA member companies were offered a year-round learning programme with 120 training opportunities delivered across 2024. Courses included Managing Emotional Intelligence, Influencing and Persuasion Skills, Personal Presentation Skills, Finding Your Voice, Networking and Communicating with Impact Online, Script Reading, Writing A Script Report and Analysing Scripts.
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FILM DISTRIBUTORS' ASSOCIATION LIMITED
(A Company Limited by Guarantee)
FDA COUNCIL REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
The long-established Foundation Course ran again for 14 weeks with 17 participants given the opportunity to understand the film value chain and build future networking contacts. In a programme of continuing professional development training, a 12-week Intermediate Course and a 10-week Intermediate Plus Course – with 30 people taking part across the two – were also on offer.
Completing the FDA training strategy, several high-level Management Courses also featured during the course of 2024. These included Transactional Analysis in the Creative Industries, Managing Change, Creative Problem Solving and a Distribution Leadership Programme, with the latter course including the opportunity for bespoke 1-2-1 coaching sessions. For the 33rd consecutive year, the FDA sponsored the NFTS (National Film & Television School), as well as supporting its Marketing, Distribution, Sales and Exhibition MA Course. The FDA also continued to part-sponsor The Brit List and The New Black Film Collective XPO in 2024, both helping create pathways for future industry talent and better inclusion.
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FILM DISTRIBUTORS' ASSOCIATION LIMITED
(A Company Limited by Guarantee)
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The Directors present their report and the financial statements for the year ended 31 December 2024.
The Directors are responsible for preparing the Council Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙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 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 Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Directors who served during the year were:
The Directors 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.
The Company has sufficient cash reserve and assets with minimal liabilities, therefore the Directors have therefore concluded that it is appropriate to prepare the financial statements on a going concern basis.
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FILM DISTRIBUTORS' ASSOCIATION LIMITED
(A Company Limited by Guarantee)
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
The auditors, Milton Avis LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
In preparing this report, the Directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.
This report was approved by the board on
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FILM DISTRIBUTORS' ASSOCIATION LIMITED
(A Company Limited by Guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF FILM DISTRIBUTORS' ASSOCIATION LIMITED
UNDER SECTION 449 OF THE COMPANIES ACT 2006
We have audited the financial statements of Film Distributors Association (the 'Company') for the year ended 31 December 2024, which comprise the Statement of Income and Retained Earnings, the Balance Sheet and the related notes, 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, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
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 Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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.
In auditing the financial statements, we have concluded that the Directors' 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 not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the 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.
Our responsibilities and the responsibilities of the Directors with respect to going concern are described in the relevant sections of this report.
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FILM DISTRIBUTORS' ASSOCIATION LIMITED
(A Company Limited by Guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF FILM DISTRIBUTORS' ASSOCIATION LIMITED (CONTINUED)
UNDER SECTION 449 OF THE COMPANIES ACT 2006
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The Directors are responsible for the other information contained within the Annual Report. 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. 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 course of 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.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.
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FILM DISTRIBUTORS' ASSOCIATION LIMITED
(A Company Limited by Guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF FILM DISTRIBUTORS' ASSOCIATION LIMITED (CONTINUED)
UNDER SECTION 449 OF THE COMPANIES ACT 2006
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FILM DISTRIBUTORS' ASSOCIATION LIMITED
(A Company Limited by Guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF FILM DISTRIBUTORS' ASSOCIATION LIMITED (CONTINUED)
UNDER SECTION 449 OF THE COMPANIES ACT 2006
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 an Auditors' Report 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.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We gained an understanding of the legal and regulatory framework applicable to the Company and industry in which the company operates, and considered the risk of acts by the Company which were contrary to applicable laws and regulations, including fraud. These included but were not limited to compliance with Companies Act 2006, and FRS 102. We considered compliance with this framework and performed audit procedures on these areas as considered necessary. Our procedures involved enquiries with management, review of the reporting to the directors with respect to compliance with laws and regulation, review of board meeting minutes and review of legal correspondence. We focused on laws and regulations that could give rise to a material misstatement in the Company financial statements. Our tests included but were not limited to: . agreement of the financial statement disclosures to underlying supporting documentation; . enquiries of management; . testing of journal postings made during the year to identify the potential management override of controls; . review of minutes of board meetings throughout the period; and . Obtaining an understanding of the control environment in monitoring compliance with laws and regulations. Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.
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 Auditors' Report.
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FILM DISTRIBUTORS' ASSOCIATION LIMITED
(A Company Limited by Guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF FILM DISTRIBUTORS' ASSOCIATION LIMITED (CONTINUED)
UNDER SECTION 449 OF THE COMPANIES ACT 2006
This report is made solely to the 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 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 Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants
Statutory Auditors
Pitt House
120 Baker Street
W1U 6TU
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FILM DISTRIBUTORS' ASSOCIATION LIMITED
(A Company Limited by Guarantee)
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 DECEMBER 2024
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FILM DISTRIBUTORS' ASSOCIATION LIMITED
(A Company Limited by Guarantee)
REGISTERED NUMBER: 00142378
BALANCE SHEET
AS AT 31 DECEMBER 2024
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FILM DISTRIBUTORS' ASSOCIATION LIMITED
(A Company Limited by Guarantee)
REGISTERED NUMBER: 00142378
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 19 to 25 form part of these financial statements.
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FILM DISTRIBUTORS' ASSOCIATION LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
The Company is incorporated in the UK with its registered office at 2 Newburgh Street, London, W1F 7RD. The Company is limited by guarantee, not having share capital. The Company is an association providing support to member companies and promotion for the UK film industry.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The presentation currency is pounds sterling.
The following principal accounting policies have been applied:
Revenue derives from the Company's share of sponsorship income. Revenue is recognised at the point it can be measured reliably and it is probable that the Company will receive consideration per the original primary sponsorship contract.
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FILM DISTRIBUTORS' ASSOCIATION LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
The Company is a small company as defined by the Companies Act 2006 and has taken advantage of the exemption from the requirement to prepare consolidated financial statements.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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FILM DISTRIBUTORS' ASSOCIATION LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period of the revision and future periods if the revision affects both current and future periods.
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FILM DISTRIBUTORS' ASSOCIATION LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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FILM DISTRIBUTORS' ASSOCIATION LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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FILM DISTRIBUTORS' ASSOCIATION LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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FILM DISTRIBUTORS' ASSOCIATION LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
The Company is a private company limited by guarantee and consequently does not have share capital.
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