REGISTERED COMPANY NUMBER: 01956960 (England and Wales)

REGISTERED CHARITY NUMBER: 296135

Report of the Trustees and

Financial Statements for the Year Ended 31 March 2025

for

Phoenix Cinema Trust Limited

Page

Report of the Trustees

1

to

5

Report of the Independent Auditors

6

to

9

Statement of Financial Activities

10

Balance Sheet

11

Cash Flow Statement

12

Notes to the Cash Flow Statement

13

Notes to the Financial Statements

14

to

21

The Trustees, who are also directors of the Charity for the purposes of the Companies Act 2006, are pleased to present their annual report, together with the audited financial statements of the charity, for the year ended 31 March 2025. These are also prepared to meet the requirements for a directors' report and accounts for Companies Act purposes.

The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, 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 (FRS 102) (as amended for accounting periods commencing from 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The charity's purposes are the advancement of the education of the public and in particular of persons who live or work in London in the arts including, but without limiting the foregoing, the arts of film, television, drama, ballet, mime, dance, music, singing and opera, and for such purpose to establish, operate and manage and administer the Phoenix Cinema in the London Borough of Barnet and to promote and maintain and encourage schemes for the use thereof.

The trustees have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission in exercising their powers or duties.

The strategies employed to achieve these objectives are:

- To promote film culture by showing a broad range of quality films

- To preserve and develop the Phoenix Cinema as a popular centre of film, video and new media

- To encourage the greatest possible access to film activities for the diverse local communities.

There has been no change to these during the year.

There are four major areas of activity where we put these strategies into action which are: main feature film screenings, education and community activities, alternative content and special events including festivals.

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

The financial year ending 31st March 2025 (FY2025) was a challenging year in many ways for the Phoenix but also one of significant change for the historic cinema. Of the top 10 UK titles for the year, 5 were animated franchise titles which struggled to resonate with the Phoenix audience.

Trading during the FY25 was difficult from the beginning. Monthly admissions hovered around the 2-3,000 mark which is significantly below where we would want to be. The main driver of this was the slate with a dearth of suitable films throughout the first ¾ of the year. In comparison to FY24, the cinema lacked a Barbie and Oppenheimer type release that raised the whole profile of cinema with audiences.

Trading was inconsistent throughout the year with very few profitable months. However, there were a couple of other events which had a major impact on the cinema. Firstly, in May 2024, the cinema screened the documentary, Supernova, as part of the Seret Festival. Soon after, two patrons, Mike Leigh and Ken Loach, both resigned. The event itself became a much bigger event than a screening with protesters on both sides lining the streets in and around the cinema.

At around the same time, the Phoenix sold the land at the back of the cinema. In November/December, the money was reinvested into building a smaller second screen and renovating the seating and flooring in the main auditorium. This gave the cinema more programming flexibility as well as another screen to drive revenue. The second screen opened on December 18th in time for the traditionally strong awards season releases.

In early 2025, the cinema brought in a new Executive Director, Kathryn Smith, who came with significant operational experience from the Really Local Group. Kathryn replaced Rob Kenny who had helped the cinema through the second screen redevelopment plan.

Throughout FY2025, the Phoenix was running a programme of community and education activities, including screenings for local schools, community groups, Parent and Baby screenings and captioned screenings alongside partnership with the UK Jewish Film Festival and special screenings and events for a variety of audiences.

In December 2024, Alison Gold stepped down as Chair, whilst remaining as a trustee, with Paul Rossi being voted in as her replacement. Vicki Kelsall resigned in May 2024. Post year-end, Alison Gold, Marta Montague and Patrick Swaffer resigned from the board. The Phoenix is thankful for their service, especially Alison and Marta, who guided the cinema through the pandemic and redevelopment. Following the end of October 2025, Ed Sayers and Ken McEnery joined the board as new trustees.

For the financial year ending 31 March 2025, income totalled £573K with £477K coming from trading (mainly box office and kiosk food and drink sales), £93K from grants and donations (nearly half of which was from Barnet Council) and £3K of other income. Expenditure totalled £714K with £476K being direct costs/cost of sales (film hire and food and drink expenditure) and £281K being support costs. The average monthly number of employees remained at 19. In addition, there was a £423K gain on investment (sale of the land).

As a result, the cinema made a gain of £288K for the financial year driven by the gain on investment. Net cash grew from £67K to £145K as most of the money secured from the sale had been reinvested into the redevelopment.

Overall performance

Trading revenue was £477K which was down -12% on FY2024. Admissions were 36,208 which was down -3% on FY2024, and remained less than 60% of the admissions in FY2020 (64,275 admissions). This level of admissions is also less than half of its level 10 years earlier, reflecting the growth in local competition since 2015, as well as the prevailing lower cinema attendance since the pandemic.

The top 10 films at the Phoenix for the year were, in order of revenues:-

Conclave

A Complete Unknown

A Real Pain

The Brutalist

Kidnapped

National Theatre: Nye

Van Gogh: Poets And Lovers

Small Things Like These

Maria

Lee

The cinema continued to diversify outside cinema although there was a reduction in the regular comedy nights during the first half of 2025.

Education and community

The Phoenix no longer seeks funding for bespoke educational activities but seeks to partner with schools and colleges in the local community to deliver this part of its charitable remit.

The Phoenix is more closely linked into community activity in its immediate local area, as an active member of the N2 United network.

FINANCIAL REVIEW

Financial position

While the cash position was £145K at the end of March 2025, the volatility in trading has been challenging since the end of the financial year.

Audiences continue to be down significantly since the pandemic and the slate of films remains inconsistent. Potentially Phoenix friendly fare such as The Thursday Murder Club and Knives Out: Wake Up Dead Man were released on limited windows.

Reserves policy

The Board's reserves policy continues to be that the Phoenix should hold unrestricted general funds, held in cash or readily realisable assets, equivalent to at least two months' operating costs (approximately £80K). These funds should be held to mitigate the risk of poor trading or cover unplanned emergency repairs or other expenditure. The reserves policy has not been changed. However, given the challenges faced since the pandemic, the cinema has been unable to maintain full reserves since throughout the period.

The management and Board of the Phoenix monitors cash flow and projected cash on a weekly basis to anticipate any solvency problems.

The major asset remains the cinema building and associated land.

Going concern

The cinema has faced a challenging time in FY2025 similar to other independent cinemas. Trading started to improve during the last quarter of 2025 and is expected to be strong during the first quarter of 2026. The board's immediate focus will be on increasing fundraising to support the trading of the cinema.

With that in mind, the accounts have been prepared on a going concern basis.

FUTURE PLANS

Trading remains inconsistent with an average of £25K box office revenue per month for the YTD. Admissions also hover around 3-3.5K per month.

The second screen has helped drive attendances during weeks when the slate has been strong and provided some flexibility for screenings. It is also a hiring option for small gatherings or parties. However, when the slate is weak, the second screen is also impacted delivering very little in additional revenue.

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.

Recruitment and appointment of new trustees

Each year, one-third of the trustees shall be retired/reappointed at the Annual General Meeting of its Company Members. In line with best practise in governance, no trustee will serve for more than nine years in total.

Organisational structure

The Phoenix is governed by a board that comprises not less than six and no more than twelve members. The board normally meets quarterly and there are two sub-committees that meet quarterly: the Finance Committee, the Education, Community and Fundraising committee.

At the year end, the Phoenix had 19 staff members in line with the previous year. Most are employed part-time.

Related parties

The trustees provide their services on a voluntary basis. None of the trustees has any beneficial interest in the

company. There are no connected charities. There are no related party transactions, except as disclosed in note

17 in the financial statements.

Risk management

The trustees put in place a risk management policy in 2016 which comprises a risk register that identifies and measures the key risks faced by the cinema in addition to actions to be taken to mitigate the impact. The cinema has adequate insurance cover in place to mitigate certain of the identified risks.

The risk register was reviewed in detail by the board during 2024.

In prior years, the key risk faced by the cinema was its financial sustainability. This remains a key focus for the board and management team.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

01956960 (England and Wales)

Registered Charity number

296135

Registered office

52 High Road

East Finchley

London

N2 9PJ

Trustees

P L J Swaffer (resigned 10.4.25)

A J Bull

Ms M A Hoare

B Ellis

Ms V M Kelsall (resigned 16.5.24)

V P Ram

A Khan

P Rossi

Ms M Montague (resigned 16.9.25)

Ms A Gold (resigned 13.6.25)

S Smith

K Mcenery (appointed 30.10.25)

E Sayers (appointed 11.11.25)

Auditors

Ark Accountancy Limited

Chartered Certified Accountant &

Statutory Auditor

56-58 High Street

Ewell

Epsom

Surrey

KT17 1RW

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Phoenix Cinema Trust Limited 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. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).

Under company law the trustees must not approve the financial statements unless they are satisfied that they 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 Charities 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.

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 23 December 2025 and signed on its behalf by:

A Khan - Trustee

Opinion

We have audited the financial statements of Phoenix Cinema Trust Limited (the 'charitable company') for the year ended 31 March 2025 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 2025 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 not identified any material 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.

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

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.

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:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including

fraud and non-compliance with laws and regulations, was as follows:

- the engagement partner ensured that the engagement team collectively had the appropriate competence,

capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

- we identified the laws and regulations applicable to the company through discussions with directors and

other management, and from our knowledge and experience of the sector;

- we focused on specific laws and regulations which we considered may have a direct material effect on the

financial statements or the operations of the company, including the Companies Act 2006, taxation

legislation and data protection, anti-bribery, employment and health and safety legislation;

- we assessed the extent of compliance with the laws and regulations identified above through making

enquiries of management and inspecting legal correspondence; and

- identified laws and regulations were communicated within the audit team regularly and the team remained

alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining

an understanding of how fraud might occur, by:

- making enquiries of management as to where they considered there was susceptibility to fraud, their

knowledge of actual, suspected and alleged fraud; and

- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and

regulations.

To address the risk of fraud through management bias and override of controls, we - performed analytical procedures to identify any unusual or unexpected relationships;

- tested journal entries to identify unusual transactions;

- assessed whether judgements and assumptions made in determining the accounting estimates were

indicative of potential bias; and

- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures

which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;

- reading the minutes of meetings of those charged with governance; and

- enquiring of management as to actual and potential litigation and claims.

We communicate with those charged with governance regarding, among other matters, the planned scope and

timing of the audit and significant audit findings, including any significant deficiencies in internal control that we

identify during our audit.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations

are from the financial transactions, the less likely it is that we would become aware of non-compliance. Auditing

standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of

the trustees and other management and the inspection of regulatory and legal correspondence, if any.

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.

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

56-58 High Street

Ewell

Epsom

Surrey

KT17 1RW

23 December 2025

31.3.25

31.3.24

Unrestricted

Restricted

Total

Total

funds

funds

funds

funds

Notes

£

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

2

92,558

-

92,558

27,628

Charitable activities

4

Cinema

477,267

-

477,267

543,683

Investment income

3

3,457

-

3,457

1,008

Total

573,282

-

573,282

572,319

EXPENDITURE ON

Charitable activities

5

Cinema

714,396

42,757

757,153

665,233

Net gains on investments

423,869

-

423,869

-

NET INCOME/(EXPENDITURE)

282,755

(42,757

)

239,998

(92,914

)

Transfers between funds

16

22,258

(22,258

)

-

-

Net movement in funds

305,013

(65,015

)

239,998

(92,914

)

RECONCILIATION OF FUNDS

Total funds brought forward

38,658

290,370

329,028

421,942

TOTAL FUNDS CARRIED FORWARD

343,671

225,355

569,026

329,028

31.3.25

31.3.24

Unrestricted

Restricted

Total

Total

funds

funds

funds

funds

Notes

£

£

£

£

FIXED ASSETS

Tangible assets

12

411,394

225,355

636,749

304,095

CURRENT ASSETS

Stocks

13

1,695

-

1,695

3,427

Debtors

14

23,154

-

23,154

17,987

Cash at bank

144,857

-

144,857

67,443

169,706

-

169,706

88,857

CREDITORS

Amounts falling due within one year

15

(237,429

)

-

(237,429

)

(63,924

)

NET CURRENT ASSETS

(67,723

)

-

(67,723

)

24,933

TOTAL ASSETS LESS CURRENT LIABILITIES

343,671

225,355

569,026

329,028

NET ASSETS

343,671

225,355

569,026

329,028

FUNDS

16

Unrestricted funds

343,671

38,658

Restricted funds

225,355

290,370

TOTAL FUNDS

569,026

329,028

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 23 December 2025 and were signed on its behalf by:

A Khan - Trustee

Cash flows from operating activities

Cash generated from operations

1

74,181

(28,190

)

Net cash provided by/(used in) operating activities

74,181

(28,190

)

Cash flows from investing activities

Purchase of tangible fixed assets

(425,511

)

(27,341

)

Sale of fixed asset investments

423,869

-

Disposal of asset

1,418

-

Interest received

3,457

1,008

Net cash provided by/(used in) investing activities

3,233

(26,333

)

Change in cash and cash equivalents in the reporting period

77,414

(54,523

)

Cash and cash equivalents at the beginning of the reporting period

67,443

121,966

Cash and cash equivalents at the end of the reporting period

144,857

67,443

1.	RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES

31.3.25

31.3.24

£

£

Net income/(expenditure) for the reporting period (as per the Statement of Financial Activities)

239,998

(92,914

)

Adjustments for:

Depreciation charges

91,439

50,264

Losses on investments

(423,869

)

-

Interest received

(3,457

)

(1,008

)

Decrease in stocks

1,732

1,567

Increase in debtors

(5,167

)

(7,451

)

Increase in creditors

173,505

21,352

Net cash provided by/(used in) operations

74,181

(28,190

)

2.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.24

Cash flow

At 31.3.25

£

£

£

Net cash

Cash at bank

67,443

77,414

144,857

67,443

77,414

144,857

Total

67,443

77,414

144,857

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.

Tangible fixed assets

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

Freehold property

-

in accordance with the property

Café bar

-

at varying rates on cost

Fixtures and fittings

-

25% on reducing balance, 25% on cost and at varying rates 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.

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.

2.	DONATIONS AND LEGACIES

31.3.25

31.3.24

£

£

Donations

40,558

1,625

Grants

52,000

26,003

92,558

27,628

Grants received, included in the above, are as follows:

31.3.25

31.3.24

£

£

London Borough of Barnet

40,000

-

Unrestricted grants

-

(1,230

)

Film London

-

7,035

Young Barnet

-

2,000

Community Grant

-

18,198

The Harold Wyatt Wingate Foundation

10,000

-

Philaharmonic Trust

2,000

-

52,000

26,003

3.	INVESTMENT INCOME

31.3.25

31.3.24

£

£

Deposit account interest

3,457

1,008

4.	INCOME FROM CHARITABLE ACTIVITIES

31.3.25

31.3.24

Activity

£

£

Film Receipts

Cinema

305,890

338,389

Education Activities

Cinema

2,486

2,550

Confectionary & café bar & merchandise

Cinema

71,235

75,511

Other charitable activities

Cinema

97,656

127,233

477,267

543,683

5.	CHARITABLE ACTIVITIES COSTS

Support

Direct

costs (see

Costs

note 6)

Totals

£

£

£

Cinema

475,996

281,157

757,153

6.	SUPPORT COSTS

Information

Governance

Management

Finance

technology

costs

Totals

£

£

£

£

£

Cinema

230,924

20,435

11,998

17,800

281,157

7.	NET INCOME/(EXPENDITURE)

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

31.3.25

31.3.24

£

£

Auditors' remuneration

5,800

4,500

Depreciation - owned assets

92,857

50,264

8.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.

9.	STAFF COSTS

31.3.25

31.3.24

£

£

Wages and salaries

255,021

224,747

Social security costs

9,085

4,877

Other pension costs

4,639

4,187

268,745

233,811

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

31.3.25

31.3.24

Cinema staff

19

19

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

10.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

Restricted

Total

funds

funds

funds

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

395

27,233

27,628

Charitable activities

Cinema

541,133

2,550

543,683

Investment income

1,008

-

1,008

Total

542,536

29,783

572,319

EXPENDITURE ON

Charitable activities

Cinema

592,207

73,026

665,233

NET INCOME/(EXPENDITURE)

(49,671

)

(43,243

)

(92,914

)

Transfers between funds

30,861

(30,861

)

-

Net movement in funds

(18,810

)

(74,104

)

(92,914

)

RECONCILIATION OF FUNDS

Total funds brought forward

57,468

364,474

421,942

TOTAL FUNDS CARRIED FORWARD

38,658

290,370

329,028

11.	INTANGIBLE FIXED ASSETS

Computer

software

£

COST

At 1 April 2024 and 31 March 2025

5,000

AMORTISATION

At 1 April 2024 and 31 March 2025

5,000

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-