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COMPANY REGISTRATION NUMBER: 03928758
CHARITY REGISTRATION NUMBER: 1080324
Southwold Film Society
Company Limited by Guarantee
Unaudited financial statements
For the year ended
31 March 2025
Southwold Film Society
Company Limited by Guarantee
Financial statements
Year ended 31 March 2025
Page
Trustees' annual report (incorporating the directors' report)
1
Independent examiner's report to the trustees
4
Statement of financial activities (including income and expenditure account)
5
Balance sheet
6
Notes to the financial statements
7
Southwold Film Society
Company Limited by Guarantee
Trustees' annual report (incorporating the directors' report)
Year ended 31 March 2025
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 2025 .
The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity's governing document, the Charities Act 2011 and Companies Act 2006 and 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 published in October 2019.
Reference and administrative details
Registered charity name
Southwold Film Society
Charity registration number
1080324
Company registration number
03928758
Principal office and registered
1 Barnaby Green
office
Southwold
Suffolk
IP18 6AP
The trustees
The trustees who served during the year and at the date of approval were as follows:
Mr J L Bennett (Chairman)
Ms C R Clark
Mr D G Forster
Company secretary
Mr J L Bennett
Independent examiner
Mark Proctor FCA
Lovewell Blake LLP
Chartered accountants
The Wherry
Quay Street
Halesworth
Suffolk
IP19 8ET
Bankers
Barclays Bank Plc
67 High Street
Southwold
Suffolk
IP18 6DT
Objectives and activities
The charity's objects are to advance the education of the public in the knowledge, understanding and appreciation of the arts, particularly the art of film and allied visual techniques. The charity also aims to promote the study and appreciation of film by means of lectures, discussions and exhibitions.
Public Benefit
The trustees have taken due regard to the information published by the charity commission regarding public benefit. It is considered a public benefit is provided through the charity's aims to advance the public in their knowledge, understanding and appreciation of the arts.
Achievements and performance
The Society continued to fulfill its objects throughout the 2025 year. Subscriptions remained consistent and the year saw increases in ticket sales, parties and weddings on 2024 totalling over £4,000. Savings were found on energy costs but increased staffing costs were incurred and repairs were made for water damage.
Financial review and reserves policy
The charity's principal sources of funding during the year were from membership subscriptions, ticket sales and film-themed functions. The largest expense the charity incurs is the costs of cleaners, ushers,organists and other support staff but the levels at which these are incurred are proportionate to the income generated by the charitable activities which require them.
The net outgoing resources for the year amounted to £4,552 (2024: £5,670).
The total free funds held at the year end were £30,597 (2024: £25,171), all of which related to unrestricted general funds and equates to the net current assets of the charity. The charity holds sufficient free reserves at 31 March 2025 to cover its fixed overhead costs, general maintenance and depreciation charge for the 2026 financial year.
Structure, governance and management
Governing document
Southwold Film Society is a company limited by guarantee and a registered charity governed by its Memorandum and Articles of Association.
Recruitment, appointment and training of Trustees
Trustees are appointed from the membership of the charity which, in accordance with the Articles of Association, is open to any individual, body corporate or unincorporated association which is interested in furthering the charity's work.
All new trustees will be provided with copies of:
- The Memorandum and Articles of Association of the charity
- The latest financial statements of the charity
In addition, the trustees are encouraged to read Charity Commission and other newsletters and to attend courses designed to keep them abreast of their duties and responsibilities.
Risk management
The charity acknowledges the Charity Commission's recommendation for them to undertake a review of the major risks to which the charity is exposed which is done on a continual basis.
Organisational structure
The trustees are responsible for the management of the affairs of the charity and are regarded as trustees under the Charities Act 2011 and directors within the meaning of the Companies Act 2006. The present trustees are listed on page 1.
Small company provisions
This report has been prepared taking advantage of the small companies' exemption of section 415A of the Companies Act 2006.
The trustees' annual report was approved on 8 December 2025 and signed on behalf of the board of trustees by:
Mr J L Bennett (Chairman)
Trustee
Southwold Film Society
Company Limited by Guarantee
Independent examiner's report to the trustees of Southwold Film Society
Year ended 31 March 2025
I report to the charity trustees on my examination of the financial statements of the company for the year ended 31 March 2025 which comprise the statement of financial activities (including income and expenditure account), balance sheet and the related notes.
Responsibilities and basis of report
As the charity 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 financial statements 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 your company's financial statements 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 that in any material respect:
1. accounting records were not kept in respect of the company 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.
Mark Proctor FCA Independent Examiner
Lovewell Blake LLP
Chartered accountants
The Wherry Quay Street Halesworth Suffolk IP19 8ET
8 December 2025
Southwold Film Society
Company Limited by Guarantee
Statement of financial activities
(including income and expenditure account)
Year ended 31 March 2025
2025
2024
Unrestricted funds
Total funds
Total funds
Note
£
£
£
Income and endowments
Donations and legacies
5
7,249
7,249
8,288
Charitable activities
6
29,278
29,278
27,240
Other trading activities
7
14,263
14,263
11,575
Investment income
8
153
153
146
-------
-------
-------
Total income
50,943
50,943
47,249
-------
-------
-------
Expenditure
Charitable activities
9
55,495
55,495
52,919
-------
-------
-------
Total expenditure
55,495
55,495
52,919
-------
-------
-------
-------
-------
-------
Net expenditure and net movement in funds
( 4,552)
( 4,552)
( 5,670)
-------
-------
-------
Reconciliation of funds
Total funds brought forward
266,846
266,846
272,516
---------
---------
---------
Total funds carried forward
262,294
262,294
266,846
---------
---------
---------
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
Southwold Film Society
Company Limited by Guarantee
Balance sheet
31 March 2025
2025
2024
Note
£
£
£
£
Fixed assets
Tangible fixed assets
14
231,697
241,675
Current assets
Stocks
15
100
100
Debtors
16
2,042
1,957
Cash at bank and in hand
31,070
25,877
-------
-------
33,212
27,934
Creditors: Amounts falling due within one year
17
2,615
2,763
-------
-------
Net current assets
30,597
25,171
---------
---------
Total assets less current liabilities
262,294
266,846
---------
---------
Net assets
262,294
266,846
---------
---------
Funds of the charity
Unrestricted funds
262,294
266,846
---------
---------
Total charity funds
18
262,294
266,846
---------
---------
For the year ending 31 March 2025 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 8 December 2025 , and are signed on behalf of the board by:
Mr J L Bennett (Chairman)
Trustee
Company registration number: 03928758
Southwold Film Society
Company Limited by Guarantee
Notes to the financial statements
Year ended 31 March 2025
1. General information
The charity is 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 1 Barnaby Green, Southwold, Suffolk, IP18 6AP. The charity operates from The Electric Picture Palace, Blackmill Road, Southwold, Suffolk, IP18 6AN.
2. Statement of compliance
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice. 3. Accounting policies
(a) Cash at bank
Cash at bank includes cash and deposit accounts.
(b) 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.
(c) Creditors
Creditors with no stated interest and payable within one year are recorded at transaction price.
(d) Going concern
The financial statements have been prepared on a going concern basis as the trustees believe no material uncertainties exist.
(e) 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.
(f) Incoming resources
All income is 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: - bequest income is recognised when receipt is probable and entitlement is established. - 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.
(g) 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.
(h) 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.
(i) 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:
Freehold property
-
2% straight line
DVD library
-
20% straight line
Equipment
-
20% reducing balance
(j) Stock
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.
4. Limited by guarantee
The company is limited by guarantee whereby the members of the company guarantee the liabilities of the company to the extent of £10 per member.
5. Donations and legacies
Unrestricted Funds
Total Funds 2025
Unrestricted Funds
Total Funds 2024
£
£
£
£
Donations
Donations
659
659
1,615
1,615
Subscriptions
Subscriptions
6,590
6,590
6,673
6,673
------
------
------
------
7,249
7,249
8,288
8,288
------
------
------
------
6. Charitable activities
Unrestricted Funds
Total Funds 2025
Unrestricted Funds
Total Funds 2024
£
£
£
£
Ticket sales
28,908
28,908
26,951
26,951
Tours
370
370
289
289
-------
-------
-------
-------
29,278
29,278
27,240
27,240
-------
-------
-------
-------
7. Other trading activities
Unrestricted Funds
Total Funds 2025
Unrestricted Funds
Total Funds 2024
£
£
£
£
Refreshments
8,388
8,388
8,184
8,184
Brochures and books
25
25
53
53
Parties, gigs and weddings
5,026
5,026
2,860
2,860
Sundry income
824
824
478
478
-------
-------
-------
-------
14,263
14,263
11,575
11,575
-------
-------
-------
-------
8. Investment income
Unrestricted Funds
Total Funds 2025
Unrestricted Funds
Total Funds 2024
£
£
£
£
Bank interest receivable
153
153
146
146
----
----
----
----
9. Expenditure on charitable activities by fund type
Unrestricted Funds
Total Funds 2025
Unrestricted Funds
Total Funds 2024
£
£
£
£
Film hire
5,791
5,791
5,611
5,611
Water, rates, light and heat
1,931
1,931
3,146
3,146
Repairs and maintenance
3,457
3,457
1,891
1,891
Insurance
2,978
2,978
2,789
2,789
Cleaning, ushers and support costs
21,324
21,324
19,155
19,155
Printing, postage, sundry and advertising
2,416
2,416
1,926
1,926
Licences
70
70
70
70
Depreciation
15,313
15,313
16,063
16,063
Support costs
2,215
2,215
2,268
2,268
-------
-------
-------
-------
55,495
55,495
52,919
52,919
-------
-------
-------
-------
10. Net expenditure
Net expenditure is stated after charging/(crediting):
2025
2024
£
£
Depreciation of tangible fixed assets
15,313
16,063
-------
-------
11. Independent examination fees
2025
2024
£
£
Fees payable to the independent examiner for:
Independent examination of the financial statements
2,010
1,914
------
------
12. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
2025
2024
£
£
Cleaners, ushers, organists and other support staff
21,324
19,155
-------
-------
13. Trustee remuneration and expenses
No trustee received remuneration or were paid expenses during this or the previous accounting year.
14. Tangible fixed assets
Land and buildings
Fixtures and fittings
Equipment
Total
£
£
£
£
Cost
At 1 April 2024
285,487
26,721
154,858
467,066
Additions
–
5,335
–
5,335
---------
-------
---------
---------
At 31 March 2025
285,487
32,056
154,858
472,401
---------
-------
---------
---------
Depreciation
At 1 April 2024
81,179
18,704
125,508
225,391
Charge for the year
5,710
3,734
5,869
15,313
---------
-------
---------
---------
At 31 March 2025
86,889
22,438
131,377
240,704
---------
-------
---------
---------
Carrying amount
At 31 March 2025
198,598
9,618
23,481
231,697
---------
-------
---------
---------
At 31 March 2024
204,308
8,017
29,350
241,675
---------
-------
---------
---------
15. Stocks
2025
2024
£
£
Finished goods and goods for resale
100
100
----
----
16. Debtors
2025
2024
£
£
Prepayments and accrued income
2,042
1,957
------
------
17. Creditors: Amounts falling due within one year
2025
2024
£
£
Trade creditors
413
669
Accruals and deferred income
2,202
2,094
------
------
2,615
2,763
------
------
18. Analysis of charitable funds
Unrestricted funds
At 1 April 2024
Income
Expenditure
At 31 March 2025
£
£
£
£
Unrestricted general fund
266,846
50,943
(55,495)
262,294
---------
-------
-------
---------
At 1 April 2023
Income
Expenditure
At 31 March 2024
£
£
£
£
Unrestricted general fund
272,516
47,249
(52,919)
266,846
---------
-------
-------
---------
The General fund is held to provide the necessary financial resources to enable the charity to operate on a day to day basis.
19. Analysis of net assets between funds
Unrestricted Funds
Total Funds 2025
£
£
Tangible fixed assets
231,697
231,697
Current assets
33,212
33,212
Creditors less than 1 year
(2,615)
(2,615)
---------
---------
Net assets
262,294
262,294
---------
---------
Unrestricted Funds
Total Funds 2024
£
£
Tangible fixed assets
241,675
241,675
Current assets
27,934
27,934
Creditors less than 1 year
(2,763)
(2,763)
---------
---------
Net assets
266,846
266,846
---------
---------