1 false false true false false false false true false false false false false true true No description of principal activity 2024-10-01 Sage Accounts Production Advanced 2024 - FRS102_2024_Charity 17,567 12,219 1,337 13,556 4,011 5,348 xbrli:pure xbrli:shares iso4217:GBP 05159589 2024-10-01 2025-09-30 05159589 2025-09-30 05159589 2024-09-30 05159589 2023-10-01 2024-09-30 05159589 2024-09-30 05159589 2023-09-30 05159589 core:FurnitureFittings 2024-10-01 2025-09-30 05159589 bus:LeadAgentIfApplicable 2024-10-01 2025-09-30 05159589 char:Trustee1 2024-10-01 2025-09-30 05159589 char:Trustee2 2024-10-01 2025-09-30 05159589 char:Trustee3 2024-10-01 2025-09-30 05159589 char:Trustee4 2024-10-01 2025-09-30 05159589 char:Trustee5 2024-10-01 2025-09-30 05159589 char:Trustee6 2024-10-01 2025-09-30 05159589 char:Trustee7 2024-10-01 2025-09-30 05159589 char:Trustee8 2024-10-01 2025-09-30 05159589 char:Trustee9 2024-10-01 2025-09-30 05159589 char:Trustee1 2025-09-30 05159589 char:Trustee2 2025-09-30 05159589 char:Trustee7 2025-09-30 05159589 char:Trustee8 2025-09-30 05159589 char:Trustee3 2025-09-30 05159589 char:Trustee4 2025-09-30 05159589 char:Trustee5 2025-09-30 05159589 char:Trustee6 2025-09-30 05159589 char:TotalUnrestrictedFunds 2024-09-30 05159589 char:TotalUnrestrictedFunds 2025-09-30 05159589 char:TotalUnrestrictedFunds 2024-09-30 05159589 char:TotalUnrestrictedFunds 2024-10-01 2025-09-30 05159589 char:TotalUnrestrictedFunds 2023-10-01 2024-09-30 05159589 char:Activity2 2023-10-01 2024-09-30 05159589 char:Activity2 char:TotalUnrestrictedFunds 2023-10-01 2024-09-30 05159589 core:WithinOneYear 2025-09-30 05159589 core:WithinOneYear 2024-09-30 05159589 core:FurnitureFittings 2024-09-30 05159589 core:FurnitureFittings 2025-09-30 05159589 core:FurnitureFittings 2024-09-30 05159589 bus:SmallEntities 2024-10-01 2025-09-30 05159589 bus:AuditExempt-NoAccountantsReport 2024-10-01 2025-09-30 05159589 bus:PrivateLimitedCompanyLtd 2024-10-01 2025-09-30 05159589 bus:FullAccounts 2024-10-01 2025-09-30 05159589 bus:CompanySecretary1 2024-10-01 2025-09-30
COMPANY REGISTRATION NUMBER: 05159589
CHARITY REGISTRATION NUMBER: 1105749
The Independent Film Trust
Company Limited by Guarantee
Unaudited Financial Statements
30 September 2025
The Independent Film Trust
Company Limited by Guarantee
Financial Statements
Year ended 30 September 2025
Page
Trustee's annual report (incorporating the director's report)
1
Independent examiner's report to the trustee
6
Statement of financial activities (including income and expenditure account)
7
Statement of financial position
8
Notes to the financial statements
9
The Independent Film Trust
Company Limited by Guarantee
Trustee's Annual Report (Incorporating the Director's Report)
Year ended 30 September 2025
The trustee, who is also the director for the purposes of company law, presents his report and the unaudited financial statements of the charity for the year ended 30 September 2025 .
Reference and administrative details
Registered charity name
The Independent Film Trust
Charity registration number
1105749
Company registration number
05159589
Principal office and registered
International House
office
6th Floor
Canterbury Crescent
London
SW9 7QE
England
The trustee
David Jobanputra
(Resigned 12 November 2024)
Elliot Grove
(Appointed 12 November 2024)
Jonathan Bowles
(Served from 12 November 2024 to 18 August 2025)
Lydia Agbobidi
(Resigned 12 December 2024)
Paul Thomas Flynn
(Resigned 12 November 2024)
Soumya Singh
(Resigned 11 November 2024)
Stephanie Charmail-Lakhani
(Resigned 1 December 2024)
Zulfiqar Ali Choudhry
(Served from 12 November 2024 to 8 December 2025)
Santosh Kumar Kanhaiyalal Mishra
(Served from 12 December 2024 to 1 September 2025)
Independent examiner
Maxine Gambrill FCCA
Structure, governance and management
The Independent Film Trust (IFT) is a registered charity governed by its constitution (charity number 1105749 ) and was incorporated and governed by its Memorandum & Articles of Association on 22 June 2004.
The charity is governed by a Board of Trustees responsible for the strategic direction, governance, and oversight of the organisation. Trustees are unpaid volunteers with experience across the film, education, arts, and charitable sectors.
During the reporting period, the Trustees undertook a review of the charity's governance, operational structure, and future direction in order to position the organisation for renewed activity and long-term sustainability.
The Board also began discussions regarding the expansion of trustee and advisory representation to strengthen governance, fundraising capacity, and industry engagement.
Objectives and activities
The Independent Film Trust exists to advance education and training in the art and science of film, particularly for individuals who may otherwise face barriers to access within the screen and creative industries.
The Trust's activities are intended to support:
- Emerging filmmakers and creative talent from underrepresented backgrounds;- Education, mentoring, and professional development initiatives;
- Public appreciation of independent cinema and visual storytelling;
- Socially impactful filmmaking projects that encourage inclusion, diversity, and access.
The Trustees remain committed to supporting pathways into the creative industries for individuals who may not otherwise have access to industry networks, training opportunities, or professional development.
Strategic report
The following sections for achievements and performance and financial review form the strategic report of the charity.
Achievements and performance
The year under review marked an important transitional period for the Independent Film Trust as the organisation moved from operational pause toward strategic rebuilding and relaunch.
Following the appointment of Elliot Grove as Chair, work was undertaken to review the charity's existing assets, governance, operational priorities, and long-term objectives. Key areas of progress during the year included:
- Re-establishing trustee engagement and organisational oversight;
- Reviewing opportunities for future fundraising and partnership development;- Beginning the development of a long-term strategy centred on filmmaker education, inclusion, and access; - Exploring future charitable initiatives connected to scholarships, mentoring, training, and socially impactful filmmaking.
The Trustees also began discussions with potential collaborators and supporters across the film, education, and cultural sectors with the intention of rebuilding programme activity during the next reporting period.
Although large-scale programme delivery remained limited during this year, the Trustees regard 2024-25 as a foundational rebuilding phase that has established a clearer strategic direction for the charity's future activities.
Financial review
The charity did not undertake substantial trading activity during the reporting period and continued to operate with limited income and expenditure.
The Trustees maintained careful oversight of financial resources and ensured continued compliance with reporting and governance obligations.
The charity remains solvent, and the Trustees are satisfied that the organisation is in a stable position from which to develop future fundraising activity and charitable programmes.
In the year ended 30 September 2025 the charity's total income was £1,746 and the charity's total expenditure £1,923. The brought forward funds were £1,668 as at 1 October 2024, and the deficit of income compared to expenditure in the current year resulted in the carry forward balance of £1,491 as at 30 September 2025. The trustees consider that the charity will be able to generate sufficient funds for its future planned activities.
Plans for future periods
The Trustees intend for the coming year to mark the beginning of a more active operational phase for the Independent Film Trust.
Key priorities for 2025-26 include:
- Developing a formal strategic plan for the next three to five years;- Launching fundraising and partnership initiatives to support sustainable growth;- Expanding trustee and advisory participation;
- Creating scholarship, mentoring, and filmmaker support initiatives;
- Supporting projects that improve diversity, access, and inclusion within the independent screen industries; - Exploring collaborations with educational institutions, film festivals, and industry organisations.
The Trustees also intend to examine how emerging technologies, changing audience behaviours, and new distribution models are reshaping opportunities for independent filmmakers, particularly those from underrepresented communities.
The long-term ambition of the charity is to re-establish the Independent Film Trust as a recognised platform for opportunity, education, and socially impactful independent filmmaking in the UK and internationally.
The trustee's annual report and the strategic report were approved on 4 June 2026 and signed on behalf of the board of trustees by:
Grove
Trustee
Charity Secretary
The Independent Film Trust
Company Limited by Guarantee
Independent Examiner's Report to the Trustee of The Independent Film Trust
Year ended 30 September 2025
I report to the trustee on my examination of the financial statements of The Independent Film Trust ('the charity') for the year ended 30 September 2025.
Responsibilities and basis of report
As the trustee of the company (and also its director 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 accounts 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 the charity’s accounts 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:
1. accounting records were not kept in respect of the charity 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.
Maxine Gambrill FCCA Independent Examiner
PG Lemon LLP
134 High Street
Hythe
Kent
CT21 5LB
4 June 2026
The Independent Film Trust
Company Limited by Guarantee
Statement of Financial Activities
(including income and expenditure account)
Year ended 30 September 2025
2025
2024
Unrestricted funds
Total funds
Total funds
Note
£
£
£
Income and endowments
Donations and legacies
5
1,746
1,746
5,550
-------
-------
-------
Total income
1,746
1,746
5,550
-------
-------
-------
Expenditure
Expenditure on raising funds:
Costs of other trading activities
6
–
–
2,881
Expenditure on charitable activities
7,8
1,923
1,923
8,947
-------
-------
--------
Total expenditure
1,923
1,923
11,828
-------
-------
--------
-------
-------
--------
Net expenditure and net movement in funds
( 177)
( 177)
( 6,278)
-------
-------
--------
Reconciliation of funds
Total funds brought forward
1,668
1,668
7,946
-------
-------
--------
Total funds carried forward
1,491
1,491
1,668
-------
-------
--------
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The Independent Film Trust
Company Limited by Guarantee
Statement of Financial Position
30 September 2025
2025
2024
Note
£
£
Fixed assets
Tangible fixed assets
13
4,011
5,348
Current assets
Cash at bank and in hand
1,126
–
Creditors: amounts falling due within one year
14
3,646
3,680
-------
-------
Net current liabilities
2,520
3,680
-------
-------
Total assets less current liabilities
1,491
1,668
-------
-------
Net assets
1,491
1,668
-------
-------
Funds of the charity
Unrestricted funds
1,491
1,668
-------
-------
Total charity funds
16
1,491
1,668
-------
-------
For the year ending 30 September 2025 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his 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 4 June 2026 , and are signed on behalf of the board by:
Elliot Grove
Trustee
The Independent Film Trust
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 30 September 2025
1. General information
The charity is a public benefit entity and 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 International House, 6th Floor, Canterbury Crescent, London, SW9 7QE, England.
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
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: none.
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 trustee 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.
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:
Fixtures and fittings
-
25% reducing balance
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.
Financial instruments
The IFT had only basic financial instruments during the period under review .
The pension costs relate to the workplace pension.
4. Limited by guarantee
The charity is a company limited by guarantee and has no share capital. In the event of a winding up, each member of the charity is liable to contribute an amount not exceeding £1.
5. Donations and legacies
Unrestricted Funds
Total Funds 2025
Unrestricted Funds
Total Funds 2024
£
£
£
£
Grants
Grants and donations
1,746
1,746
5,550
5,550
-------
-------
-------
-------
6. Costs of other trading activities
Unrestricted Funds
Total Funds 2025
Unrestricted Funds
Total Funds 2024
£
£
£
£
Costs of generating income
–
–
2,881
2,881
----
----
-------
-------
7. Expenditure on charitable activities by fund type
Unrestricted Funds
Total Funds 2025
Unrestricted Funds
Total Funds 2024
£
£
£
£
Charitable activities
1,576
1,576
7,611
7,611
Support costs
347
347
1,336
1,336
-------
-------
-------
-------
1,923
1,923
8,947
8,947
-------
-------
-------
-------
8. Expenditure on charitable activities by activity type
Activities undertaken directly
Support costs
Total funds 2025
Total fund 2024
£
£
£
£
Charitable activities
1,576
–
1,576
7,611
Governance costs
–
347
347
1,336
-------
----
-------
-------
1,576
347
1,923
8,947
-------
----
-------
-------
9. Net expenditure
Net expenditure is stated after charging/(crediting):
2025
2024
£
£
Depreciation of tangible fixed assets
1,337
1,783
-------
-------
10. Independent examination fees
2025
2024
£
£
Fees payable to the independent examiner for:
Independent examination of the financial statements
300
600
----
----
11. Staff costs
Average number of employees was one (2024: one).
12. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
No trustee expenses have been incurred.
13. Tangible fixed assets
Fixtures and fittings
£
Cost
At 1 October 2024 and 30 September 2025
17,567
--------
Depreciation
At 1 October 2024
12,219
Charge for the year
1,337
--------
At 30 September 2025
13,556
--------
Carrying amount
At 30 September 2025
4,011
--------
At 30 September 2024
5,348
--------
14. Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
–
902
Trade creditors
–
1,344
Accruals and deferred income
300
600
Other creditors
3,346
834
-------
-------
3,646
3,680
-------
-------
15. Pensions and other post retirement benefits
The amount recognised in income or expenditure as an expense in relation to staff pension costs was £0 (2024: £66).
16. Analysis of charitable funds
Unrestricted funds
At 1 October 2024
Income
Expenditure
At 30 September 2025
£
£
£
£
Unrestricted fund
1,668
(1)
301
1,968
Unrestricted fund
–
1,747
(2,224)
(477)
-------
-------
-------
-------
1,668
1,746
(1,923)
1,491
-------
-------
-------
-------
At 1 October 2023
Income
Expenditure
At 30 September 2024
£
£
£
£
Unrestricted fund
7,946
–
–
7,946
Unrestricted fund
–
5,550
(11,828)
(6,278)
-------
-------
--------
-------
7,946
5,550
(11,828)
1,668
-------
-------
--------
-------
17. Analysis of net assets between funds
Unrestricted Funds
Total Funds 2025
£
£
Tangible fixed assets
4,011
4,011
Creditors less than 1 year
(2,520)
(2,520)
-------
-------
Net assets
1,491
1,491
-------
-------
Unrestricted Funds
Total Funds 2024
£
£
Tangible fixed assets
5,348
5,348
Current assets
–
–
Creditors less than 1 year
(3,680)
(3,680)
-------
-------
Net assets
1,668
1,668
-------
-------