Cheltenham Film Trust Limited Charity Accounts

COMPANY REGISTRATION NUMBER: 11574356

CHARITY REGISTRATION NUMBER: 1183506

Cheltenham Film Trust Limited

Company Limited by Guarantee

Unaudited Financial Statements

31 July 2025

Cheltenham Film Trust Limited

Company Limited by Guarantee

Financial Statements

Period from 1 October 2024 to 31 July 2025

	Page

Trustees' annual report (incorporating the director's report)	1

Statement of financial activities (including income and expenditure account)	4

Statement of financial position	5

Notes to the financial statements	6

Cheltenham Film Trust Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report)

Period from 1 October 2024 to 31 July 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 period ended 31 July 2025 .

Reference and administrative details

Registered charity name	Cheltenham Film Trust Limited

Charity registration number	1183506

Company registration number	11574356

Principal office and registered	Midway House
office	Herrick Way
	Staverton Technology Park
	Staverton
	Cheltenham
	GL51 6TQ

The trustees

	Mr L Marks
	Mr M R Ratcliffe
	Mr S K Sheldon
	Mr M Chittenden	(Resigned 25 February 2025)
	Mrs L Bell
	N Blackburn	(Resigned 3 December 2024)
	Mrs F J Holding	(Appointed 21 March 2025)
	Mrs J K Brewster

Structure, governance and management

The charity was incorporated in September 2018 and achieved charitable status in May 2019. All of the funds collected and spent throughout this period have been reflected within these accounts as charitable activities. The Trustees meet on a regular basis and work closely with local organisations in order to deliver the goals of the Charity. As well as seeking sponsors and patrons the Trustees are continually working within the local business community to develop partnerships and raise the Charity profile.

Objectives and activities

Charity status was confirmed on Cheltenham Film Trust in May, 2019. Within its remit, the Charity is expected to attract new audiences to independent cinema in support of emerging filmmakers and to introduce young people to the cinematic arts.

When it comes to young people, the Trust has partnered with schools within Cheltenham Education Partnership on a Cheltenham Cinema Youth project.

Strategic report

The following sections for achievements and performance and financial review form the strategic report of the charity.

Achievements and performance

2025 saw the rebranding of the charity to the Cheltenham Film Trust. With this we have introduced a new website and new direction for the Trust. Whilst maintaining a keen interest in independent cinema the greatly valued team of volunteers have been working hard to present a broader and more accessible programme of films. In doing this we are working alongside the Bath Film Festival and more locally with Cheltenham Film Society, Cheltenham Ladies College and many smaller venues.

Whilst no Film Festival took place in the period covered by these accounts, on the 20th September we will be presenting a Film Score concert at Cheltenham Ladies College in conjunction with the Cheltenham Film Orchestra. This will be followed by the main Festival that will be staged from the 18th to 26th October 2025. Information will be updated on our new website filmchelt.org

During the 9 months the Trust has focused on reducing its overheads and developing a clear sustainable strategy moving forward - in this period the Trustees have met on a regular basis as well as holding joint meetings with the volunteers.

Financial review

The Charity raises funds through a variety of means including donations, grants, sponsorship and ticket sales.

Whilst no Festival took place in the period under review the Trust invested significantly in developing a new website and approach to ensure the financial viability moving forward following the disappointing results in 2024.

Thanks to various donations and waiver of historic loans the Trust generated a healthy surplus in the 9 month period and is looking to maintain this momentum in 2025/26.

The Trustees and volunteers continue to work tirelessly to secure the future financial stability of the Trust.

Please see our Going Concern review within the accounting policies.

Events after the end of the reporting period

During the year the Trustees undertook a major strategy review and have established links with other similarly minded organisations in order to deliver a more cost effective festival in October 2025. At the time of writing the October 2025 Festival is rapidly taking shape and updates on the programme will be published both on our website and via social media channels.

The trustees' annual report and the strategic report were approved on 13 April 2026 and signed on behalf of the board of trustees by:

Mr S K Sheldon

Trustee

Cheltenham Film Trust Limited

Company Limited by Guarantee

Statement of Financial Activities

(including income and expenditure account)

Period from 1 October 2024 to 31 July 2025

	Period from 1 Oct 24 to 31 Jul 25		Year to 30 Sep 24
	Unrestricted funds	Total funds	Total funds
Note	£	£	£

Income and endowments

Donations and legacies	5	13,876	13,876	3,803
Charitable activities	6	–	–	17,970
Other trading activities	7	–	–	2,600
Investment income	8	–	–	101
		--------	--------	--------
Total income		13,876	13,876	24,474
		--------	--------	--------

Expenditure

Expenditure on charitable activities	9,10	2,610	2,610	26,431
		--------	--------	--------
Total expenditure		2,610	2,610	26,431
		--------	--------	--------

	--------	--------	--------
Net income/(expenditure) and net movement in funds	11,266	11,266	( 1,957)
	--------	--------	--------

Reconciliation of funds

Total funds brought forward	( 10,613)	( 10,613)	( 8,656)
	--------	--------	--------
Total funds carried forward	653	653	( 10,613)
	--------	--------	--------

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

Cheltenham Film Trust Limited

Company Limited by Guarantee

Statement of Financial Position

31 July 2025

	31 Jul 25	30 Sep 24
Note	£	£

Fixed assets

Intangible assets	15	2,185	–
Tangible fixed assets	16	–	123
		-------	----
		2,185	123

Current assets

Debtors	17	2,225	9,684
Cash at bank and in hand		1,159	–
		-------	-------
		3,384	9,684

Creditors: amounts falling due within one year	18	4,916	20,420
		-------	--------
Net current assets		( 1,532)	( 10,736)
		-------	--------
Total assets less current liabilities		653	( 10,613)
		----	--------
Net assets		653	( 10,613)
		----	--------

Funds of the charity

Unrestricted funds		653	( 10,613)
		----	--------
Total charity funds	20	653	( 10,613)
		----	--------

For the period ending 31 July 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 period 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 13 Apr 26 , and are signed on behalf of the board by:

Mr S K Sheldon

Trustee

Cheltenham Film Trust Limited

Company Limited by Guarantee

Notes to the Financial Statements

Period from 1 October 2024 to 31 July 2025

1. General information

The charity is a public benefit entity and a private company limited by guarantee, registered in England & Wales and a registered charity in England and Wales. The address of the registered office is Midway House, Herrick Way, Staverton Technology Park, Staverton, Cheltenham, GL51 6TQ.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.

3. Accounting policies

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.

Going concern

The charity operated at a deficit in 2024 however during this period £9,000 of Trustee loans were converted to donations. Furthermore additional donations were received in the period linked to a major strategy review in order to secure the future of the Charity. Consequently the Charity returned to solvency at the end of the period under review.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

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.

Incoming resources

All incoming resources are 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: - income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. - legacy income is recognised when receipt is probable and entitlement is established. - income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. - 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.

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.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Website	-	20% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

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.

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:

	Equipment	-	20% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.

4. Limited by guarantee

The liability of the Trustees is limited to £1 in the event of a winding up.

5. Donations and legacies

Unrestricted Funds	Total Funds 2025	Unrestricted Funds	Total Funds 2024
£	£	£	£

Donations

Lottery	–	–	220	220
Individual Supporters	13,876	13,876	1,283	1,283

Grants

Cheltenham Borough Council	–	–	300	300
Gloucestershire County Council	–	–	2,000	2,000
	--------	--------	-------	-------
	13,876	13,876	3,803	3,803
	--------	--------	-------	-------

6. Charitable activities

	Unrestricted Funds	Total Funds 2025	Unrestricted Funds	Total Funds 2024
	£	£	£	£
Ticket Sales	–	–	17,970	17,970
	----	----	--------	--------

7. Other trading activities

	Unrestricted Funds	Total Funds 2025	Unrestricted Funds	Total Funds 2024
	£	£	£	£
Sponsorships	–	–	2,600	2,600
	----	----	-------	-------

8. Investment income

	Unrestricted Funds	Total Funds 2025	Unrestricted Funds	Total Funds 2024
	£	£	£	£
Bank interest receivable	–	–	101	101
	----	----	----	----

9. Expenditure on charitable activities by fund type

	Unrestricted Funds	Total Funds 2025	Unrestricted Funds	Total Funds 2024
	£	£	£	£
Film Hire and Promotion	2,480	2,480	21,449	21,449
Venue Hire and accommodation	–	–	308	308
Support costs	130	130	4,674	4,674
	-------	-------	--------	--------
	2,610	2,610	26,431	26,431
	-------	-------	--------	--------

10. Expenditure on charitable activities by activity type

	Activities undertaken directly	Support costs	Total funds 2025	Total fund 2024
	£	£	£	£
Film Hire and Promotion	2,480	130	2,610	26,639
Venue Hire and accommodation	–	–	–	308
Governance costs	–	–	–	(516)
	-------	----	-------	--------
	2,480	130	2,610	26,431
	-------	----	-------	--------

11. Analysis of support costs

	Film Hire and Promotion	Total 2025	Total 2024
	£	£	£
Communications and IT	–	–	2,355
General office	–	–	1,535
Governance costs	130	130	(515)
Amortisation	–	–	1,218
Support costs - Other costs type 2	–	–	82
	----	----	-------
	130	130	4,675
	----	----	-------

12. Net income/(expenditure)

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

	31 Jul 25	30 Sep 24
	£	£
Amortisation of intangible assets	95	1,218
Depreciation of tangible fixed assets	–	82
	----	-------

13. Staff costs

The average head count of employees during the period was Nil (2024: Nil).

No employee received employee benefits of more than £60,000 during the year (2024: Nil).

14. Trustee remuneration and expenses

The Trustees received no remuneration during the year.

Two trustees have claimed expenses or had their expenses met by the charity.

The total amount of expenses reimbursed to the trustees or paid directly to third parties were all on an arms length basis.

The expenses related to administration costs incurred on behalf of the Trust.

15. Intangible assets

	Website
	£
Cost
At 1 October 2024	8,952
Additions	2,280
Disposals	( 8,952)
	-------
At 31 July 2025	2,280
	-------
Amortisation
At 1 October 2024	8,952
Charge for the period	95
Disposals	( 8,952)
	-------
At 31 July 2025	95
	-------
Carrying amount
At 31 July 2025	2,185
	-------
At 30 September 2024	–
	-------

16. Tangible fixed assets

	Equipment
	£
Cost
At 1 October 2024	410
Disposals	( 410)
	----
At 31 July 2025	–
	----
Depreciation
At 1 October 2024	287
Disposals	( 287)
	----
At 31 July 2025	–
	----
Carrying amount
At 31 July 2025	–
	----
At 30 September 2024	123
	----

17. Debtors

	31 Jul 25	30 Sep 24
	£	£
Trade debtors	–	9,474
Prepayments and accrued income	1,350	–
Other debtors	875	210
	-------	-------
	2,225	9,684
	-------	-------

18. Creditors: amounts falling due within one year

	31 Jul 25	30 Sep 24
	£	£
Trade creditors	1,915	5,793
Accruals and deferred income	1,578	–
Trustee Loans	1,423	12,800
Amounts due to CIFF Limited	–	1,827
	-------	--------
	4,916	20,420
	-------	--------

19. Deferred income

	31 Jul 25	30 Sep 24
	£	£
Amount deferred in period	1,578	–
	-------	----

20. Analysis of charitable funds

Unrestricted funds

	At 1 October 2024	Income	Expenditure	At 31 July 2025
	£	£	£	£
General funds	(10,613)	13,876	(2,610)	653
	--------	--------	-------	----

	At 1 October 2023	Income	Expenditure	At 30 September 2024
	£	£	£	£
General funds	(8,656)	24,474	(26,431)	(10,613)
	-------	--------	--------	--------

21. Analysis of net assets between funds

	Unrestricted Funds	Total Funds 2025
	£	£
Intangible assets	2,186	2,186
Tangible fixed assets	–	–
Current assets	3,383	3,383
Creditors less than 1 year	(4,916)	(4,916)
	-------	-------
Net assets	653	653
	-------	-------

	Unrestricted Funds	Total Funds 2024
	£	£
Intangible assets	–	–
Tangible fixed assets	123	123
Current assets	9,684	9,684
Creditors less than 1 year	(20,420)	(20,420)
Creditors greater than 1 year	–	–
	--------	--------
Net assets	(10,613)	(10,613)
	--------	--------