REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Financial Statements for the Year Ended 31 March 2023 |
for |
Rio Centre (Dalston) Limited(The) |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Financial Statements for the Year Ended 31 March 2023 |
for |
Rio Centre (Dalston) Limited(The) |
Rio Centre (Dalston) Limited(The) |
Contents of the Financial Statements |
for the Year Ended 31 March 2023 |
Page |
Reference and Administrative Details | 1 |
Report of the Trustees | 2 | to | 4 |
Report of the Independent Auditors | 5 | to | 7 |
Statement of Financial Activities | 8 |
Balance Sheet | 9 |
Cash Flow Statement | 10 |
Notes to the Cash Flow Statement | 11 |
Notes to the Financial Statements | 12 | to | 20 |
Rio Centre (Dalston) Limited(The) |
Reference and Administrative Details |
for the Year Ended 31 March 2023 |
TRUSTEES |
COMPANY SECRETARY | P Lyons |
REGISTERED OFFICE |
REGISTERED COMPANY NUMBER |
REGISTERED CHARITY NUMBER |
SENIOR STATUTORY AUDITOR | Mary E Ryan |
AUDITORS |
Chartered Certified Accountant & |
Statutory Auditor |
31 Cheam Road |
Epsom |
Surrey |
KT17 1QX |
SOLICITORS | Dechert LLP |
160 Queen Victoria Street |
London EC4V 4QQ |
Rio Centre (Dalston) Limited(The) (Registered number: 01409066) |
Report of the Trustees |
for the Year Ended 31 March 2023 |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of 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). |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
The Rio is a registered charity incorporated as a Company Limited by Guarantee. The organisation's day-to-day activities are carried out by a staff team led by Executive Director Oliver Meek and Operations Manager Yoan Segot. The Rio does not make use of "zero hours" contracts. |
The Charity's core activity is to run the Rio Cinema, an independent cinema with two screening rooms, and a unique policy of community access and local involvement. The cinema is traditionally open 364 days of the year (except during the recent pandemic years), and its wide-ranging and varied programme typically presents approximately 1300 screenings annually incorporating: main feature films, programmes for children and the elderly, special events, festivals and independent films. The Rio provides a focal point for the area and also convenient and economical access to cinema for a wide range of Londoners, regularly offering discounted tickets both to the general public and targeted at specific groups. |
Public benefit |
The Directors have considered the Charity Commission guidance on public benefit and consider that the activities of the charity provide public benefit within the following charitable purposes: |
THE ADVANCEMENT OF THE ARTS, CULTURE, HERITAGE OR SCIENCE |
The Rio promotes an appreciation of the best of world cinema for the local community in the London Borough of Hackney and neighbouring boroughs. Through participation in film festivals showcasing work from around the world, the Rio demonstrates its commitment to providing local residents with as diverse a programme of high-quality cinema as possible. |
THE ADVANCEMENT OF CITIZENSHIP OR COMMUNITY DEVELOPMENT |
Cinema itself is a communal experience, an accessible art form that attracts a diverse and wide range of people. The Rio provides a home to film festivals that reflect the diversity of the local population, featuring films that may otherwise go unseen in the UK. These screenings provide an opportunity to learn about one another's cultures and heritage, aiding and developing community relations. The Rio also provides an outlet for local community organisations and charities to promote their causes, both through public screenings and our education programme. |
THE ADVANCEMENT OF EDUCATION |
The Rio Centre's extensive programme of schools screenings provides an invaluable adjunct to the classwork of local schools and is viewed by teachers as a significant educational resource. Filmmaking and animation workshops provide children with an introduction to the principles of both art forms. Using the recently digitised archive of photographs, the Rio collaborates on educational projects with local schools and museums. |
THE RELIEF OF THOSE IN NEED, BY REASON OF YOUTH, AGE, ILL-HEALTH, DISABILITY, FINANCIAL HARDSHIP OR OTHER DISADVANTAGE |
The Rio is determined to make film as accessible as possible to the local community, and therefore seeks to provide low-cost access to the cinema for people on benefits and for children to facilitate the widest possible access to its services. The Rio's monthly Classic Matinee aims to reduce feelings of isolation for older people and enrich life of those in care, providing local older people with an opportunity to socialise, enjoy a film and also free tea and biscuits. A community discount is available to appropriate organisations and individuals looking to hire out the cinema for their projects. |
Rio Centre (Dalston) Limited(The) (Registered number: 01409066) |
Report of the Trustees |
for the Year Ended 31 March 2023 |
ACHIEVEMENT AND PERFORMANCE |
Charitable activities |
Building improvements |
In April 2022 we carried out a major foyer renovation. Removing the back wall of the auditorium and existing bar to create a new and larger foyer space. The bar and reception area were designed by Lozi Designs, the Hackney-based furniture makers who built The Rio's basement bar in 2018. Funded through a combination of the Rio's own resources, bank loans and a £10,000 award form the Hackney High Streets and Town Centres Fund, the renovation has greatly improved the appearance and access and increased revenues from the bar as a result. |
Staffing |
The Staffing Sub-committee successfully |
introduced a real-terms pay increase in 2022. We reached an agreement with Bectu in May 2022 to increase hourly rates for all Front of House and Duty Manager staff. Further discussions took place with Bectu in the autumn and an across the board increase was agreed for 2023. |
Settlements were below the headline rate of inflation but above the average wage increase in |
both the private and public sectors and compare favourably with other cinemas in London. |
Support to the independent cinema community |
The Rio extended its agreements with the Phoenix Cinema in East Finchley and with ActOne in Acton. The Rio shares its existing staff to provide operational, financial and marketing services and, for ActOne Cinema, programming services. We make a reasonable profit margin on the services we provide. |
Sound proofing |
As part of the bar renovations, we added additional sound treatment to the rear of the main auditorium. This created better sound insulation from the bar and foyer area, and has enhanced the overall sound quality and acoustics in the auditorium. |
New ticketing & membership platform |
We migrated from the Rio's decade old ticketing system to a new system provided by Scotland-based firm Indy Cinema Group. The migration was supported by a new website. The upgrade was successful giving the Rio a fresh point-of-sale platform for ticket and membership sales. |
Sustainability |
The bar and foyer renovation was completed using as many sustainable materials as possible. This included sustainably sourced plywood, a worktop made from recycled yoghurt pots, LED lighting and carbon-neural marmoleum flooring made from 97% natural materials. |
Community outreach |
2022 saw the launch of the hugely successful LGBTQ+ film club 'Pink Palace'. Hosted and curated by Andrew Woodyatt, Pink Place screened weekly in the Rio's basement bar, the Ludski Bar, with the support of a £5000 grant from Hackney. The Rio continued its role as a key venue for community and educational festivals in 2022, hosting Fringe! and Into Film, and working with dozens of local schools through the year. |
FINANCIAL REVIEW |
Financial position |
The Rio's financial results to March 2023 show a business still in recovery from the pandemic and are not indicative of a usual year of trading. This is reflected in nationally, with cinema box office approximately 30% below pre-Covid levels. In addition to reduced revenue, the Rio has seen a significant increase in overheads, with increases in staffing costs, energy and goods and services, all contributing to increased operating costs. |
. |
Reserves policy |
The trustees target maintaining reserves equal to three months running costs, The Rio maintained reserves at this level through the period. |
Rio Centre (Dalston) Limited(The) (Registered number: 01409066) |
Report of the Trustees |
for the Year Ended 31 March 2023 |
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. |
The charity owns a subsidiary limited company that is used to provide services (consultancy, programming, accounting, marketing) to other independent cinemas. This allows us to support our community of fellow independent cinemas in London whilst generating additional income to subsidise the operation and improvement of the Rio Cinema. |
STATEMENT OF TRUSTEES' RESPONSIBILITIES |
The trustees (who are also the directors of Rio Centre (Dalston) Limited(The) 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 which 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 Charity 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, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
Approved by order of the board of trustees on |
Report of the Independent Auditors to the Members of |
Rio Centre (Dalston) Limited(The) |
Opinion |
We have audited the financial statements of Rio Centre (Dalston) Limited(The) (the 'charitable company') for the year ended 31 March 2023 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 2023 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. |
Report of the Independent Auditors to the Members of |
Rio Centre (Dalston) Limited(The) |
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: |
Irregularities, including fraud, are instances of non-compliance width laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud |
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. |
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. |
Report of the Independent Auditors to the Members of |
Rio Centre (Dalston) Limited(The) |
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. |
for and on behalf of |
Chartered Certified Accountant & |
Statutory Auditor |
Epsom |
Surrey |
KT17 1QX |
Rio Centre (Dalston) Limited(The) |
Statement of Financial Activities |
for the Year Ended 31 March 2023 |
31.3.23 | 31.3.22 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 2 |
Charitable activities | 4 |
Investment income | 3 |
Other income |
Total |
EXPENDITURE ON |
Raising funds | 5 |
Charitable activities | 6 |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 418,528 |
Rio Centre (Dalston) Limited(The) (Registered number: 01409066) |
Balance Sheet |
31 March 2023 |
31.3.23 | 31.3.22 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 13 |
CURRENT ASSETS |
Stocks | 14 |
Debtors | 15 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 16 | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 17 | ( |
) | ( |
) | ( |
) |
NET ASSETS |
FUNDS | 20 |
Unrestricted funds | 103,365 |
Restricted funds | 315,163 |
TOTAL FUNDS | 418,528 |
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 |
Rio Centre (Dalston) Limited(The) |
Cash Flow Statement |
for the Year Ended 31 March 2023 |
31.3.23 | 31.3.22 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 | 27,871 | 141,678 |
Interest paid | (274 | ) | (1,255 | ) |
Net cash provided by operating activities | 27,597 | 140,423 |
Cash flows from investing activities |
Purchase of tangible fixed assets | (103,667 | ) | (63,873 | ) |
Interest received | 537 | 14 |
Net cash used in investing activities | (103,130 | ) | (63,859 | ) |
Cash flows from financing activities |
Loan repayments in year | (12,376 | ) | (24,300 | ) |
Net cash used in financing activities | (12,376 | ) | (24,300 | ) |
Change in cash and cash equivalents in the reporting period |
(87,909 |
) |
52,264 |
Cash and cash equivalents at the beginning of the reporting period |
178,944 |
126,680 |
Cash and cash equivalents at the end of the reporting period |
91,035 |
178,944 |
Rio Centre (Dalston) Limited(The) |
Notes to the Cash Flow Statement |
for the Year Ended 31 March 2023 |
1. | RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES |
31.3.23 | 31.3.22 |
£ | £ |
Net (expenditure)/income for the reporting period (as per the Statement of Financial Activities) |
(31,607 |
) |
93,717 |
Adjustments for: |
Depreciation charges | 63,618 | 52,613 |
Interest received | (537 | ) | (14 | ) |
Interest paid | 274 | 1,255 |
Decrease/(increase) in stocks | 1,659 | (5,175 | ) |
Increase in debtors | (20,088 | ) | (15,993 | ) |
Increase in creditors | 14,552 | 15,275 |
Net cash provided by operations | 27,871 | 141,678 |
2. | ANALYSIS OF CHANGES IN NET FUNDS |
At 1.4.22 | Cash flow | At 31.3.23 |
£ | £ | £ |
Net cash |
Cash at bank and in hand | 178,944 | (87,909 | ) | 91,035 |
178,944 | (87,909 | ) | 91,035 |
Debt |
Debts falling due within 1 year | (12,648 | ) | - | (12,648 | ) |
Debts falling due after 1 year | (47,120 | ) | 12,376 | (34,744 | ) |
(59,768 | ) | 12,376 | (47,392 | ) |
Total | 119,176 | (75,533 | ) | 43,643 |
Rio Centre (Dalston) Limited(The) |
Notes to the Financial Statements |
for the Year Ended 31 March 2023 |
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. |
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Short leasehold | - |
Fixtures and fittings | - |
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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease. |
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. |
Rio Centre (Dalston) Limited(The) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
2. | DONATIONS AND LEGACIES |
31.3.23 | 31.3.22 |
£ | £ |
Donations |
Government grants |
Grants received, included in the above, are as follows: |
31.3.23 | 31.3.22 |
£ | £ |
Coronovirus Job Retention Scheme | - | 30,822 |
LB Hackney Omicron | - | 4,000 |
- | 34,822 |
3. | INVESTMENT INCOME |
31.3.23 | 31.3.22 |
£ | £ |
Deposit account interest |
4. | INCOME FROM CHARITABLE ACTIVITIES |
31.3.23 | 31.3.22 |
Activity | £ | £ |
Film takings | Cinema | 432,146 | 471,261 |
Bar & confectionary takings | Cinema | 166,045 | 148,576 |
Display & screen advertising | Cinema | 19,599 | 23,584 |
Hire, booking fees etc | Cinema | 102,094 | 77,282 |
Other grants | Cinema | 131,370 | 132,652 |
Grants received, included in the above, are as follows: |
31.3.23 | 31.3.22 |
£ | £ |
Architechural Heritage Fund | - | 19,500 |
British Film Institute | 108,246 | 84,452 |
London Borough of Hackney | 11,214 | 27,700 |
Bells Whiskey | - | 1,000 |
Notts Media Centre | 6,650 | - |
Film London | 5,260 | - |
131,370 | 132,652 |
Rio Centre (Dalston) Limited(The) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
5. | RAISING FUNDS |
Raising donations and legacies |
31.3.23 | 31.3.22 |
£ | £ |
Film royalties | 160,376 | 214,155 |
Confectionary costs | 13,396 | 7,125 |
Bar costs | 51,702 | 48,780 |
Mags & merchandise | - | 2,553 |
225,474 | 272,613 |
Other trading activities |
31.3.23 | 31.3.22 |
£ | £ |
Film royalties | - | 1,200 |
Aggregate amounts | 225,474 | 273,813 |
6. | CHARITABLE ACTIVITIES COSTS |
Grant |
funding of |
activities | Support |
Direct | (see note | costs (see |
Costs | 7) | note 8) | Totals |
£ | £ | £ | £ |
Cinema | 728,225 | 3,155 | 10,796 | 742,176 |
7. | GRANTS PAYABLE |
31.3.23 | 31.3.22 |
£ | £ |
Cinema | 3,155 | - |
8. | SUPPORT COSTS |
Governance |
Finance | costs | Totals |
£ | £ | £ |
Cinema | 5,926 | 4,870 | 10,796 |
Rio Centre (Dalston) Limited(The) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
9. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
31.3.23 | 31.3.22 |
£ | £ |
Auditors' remuneration | 4,800 | 4,800 |
Depreciation - owned assets |
Hire of plant and machinery | 13,260 | 22,959 |
Other operating leases | 11,500 | 12,465 |
10. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022. |
11. | STAFF COSTS |
31.3.23 | 31.3.22 |
£ | £ |
Wages and salaries |
Social security costs |
Other pension costs |
450,214 | 405,941 |
The average monthly number of employees during the year was as follows: |
31.3.23 | 31.3.22 |
Film production staff |
12. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
funds | funds | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Charitable activities |
Investment income |
Other income |
Total |
Rio Centre (Dalston) Limited(The) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
12. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
Unrestricted | Restricted | Total |
funds | funds | funds |
£ | £ | £ |
EXPENDITURE ON |
Raising funds |
Charitable activities |
Total |
NET INCOME/(EXPENDITURE) | ( |
) |
Transfers between funds | (106,352 | ) | 106,352 | - |
Net movement in funds |
RECONCILIATION OF FUNDS |
Total funds brought forward | 97,635 | 227,176 |
TOTAL FUNDS CARRIED FORWARD | 103,365 | 315,163 | 418,528 |
13. | TANGIBLE FIXED ASSETS |
Fixtures |
Short | and |
leasehold | fittings | Totals |
£ | £ | £ |
COST |
At 1 April 2022 |
Additions |
At 31 March 2023 |
DEPRECIATION |
At 1 April 2022 |
Charge for year |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
Rio Centre (Dalston) Limited(The) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
14. | STOCKS |
31.3.23 | 31.3.22 |
£ | £ |
Stocks |
15. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.23 | 31.3.22 |
£ | £ |
Trade debtors |
Other debtors |
Accrued income | 7,500 | 8,500 |
Prepayments |
16. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.23 | 31.3.22 |
£ | £ |
Bank loans and overdrafts (see note 18) |
Other loans (see note 18) |
Trade creditors |
Social security and other taxes |
VAT | 27,110 | 1,228 |
Other creditors |
Accruals and deferred income |
Accrued expenses |
17. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.3.23 | 31.3.22 |
£ | £ |
Bank loans (see note 18) |
Other loans (see note 18) | 13,333 |
18. | LOANS |
An analysis of the maturity of loans is given below: |
31.3.23 | 31.3.22 |
£ | £ |
Amounts falling due within one year on demand: |
Bank loans |
Other loans | 2,000 | 2,000 |
Rio Centre (Dalston) Limited(The) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
18. | LOANS - continued |
31.3.23 | 31.3.22 |
£ | £ |
Amounts falling between one and two years: |
Bank loans - 1-2 years |
Other loans - 1-2 years |
Amounts falling due between two and five years: |
Bank loans - 2-5 years |
Other loans - 2-5 years |
Amounts falling due in more than five years: |
Repayable by instalments: |
Bank loans more 5 yr by instal | 2,115 | 1 |
Other loans more 5yrs instal | 3,333 | 5,333 |
5,448 | 5,334 |
19. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
31.3.23 | 31.3.22 |
£ | £ |
Within one year |
20. | MOVEMENT IN FUNDS |
Net | Transfers |
movement | between | At |
At 1.4.22 | in funds | funds | 31.3.23 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 116,471 | (136 | ) | (26,212 | ) | 90,123 |
RioGeneration Fund | (13,106 | ) | (13,106 | ) | 26,212 | - |
(13,242 | ) |
Restricted funds |
Revaluation Reserve | 192,597 | (11,400 | ) | - | 181,197 |
RioGeneration Fund | 122,566 | (6,965 | ) | - | 115,601 |
(18,365 | ) |
TOTAL FUNDS | (31,607 | ) | 386,921 |
Rio Centre (Dalston) Limited(The) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
20. | MOVEMENT IN FUNDS - continued |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 936,043 | (936,179 | ) | (136 | ) |
RioGeneration Fund | - | (13,106 | ) | (13,106 | ) |
( |
) | (13,242 | ) |
Restricted funds |
Revaluation Reserve | - | (11,400 | ) | (11,400 | ) |
RioGeneration Fund | - | (6,965 | ) | (6,965 | ) |
( |
) | (18,365 | ) |
TOTAL FUNDS | ( |
) | (31,607 | ) |
Comparatives for movement in funds |
Net | Transfers |
movement | between | At |
At 1.4.21 | in funds | funds | 31.3.22 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 10,881 | 125,188 | (19,598 | ) | 116,471 |
RioGeneration Fund | 86,754 | (13,106 | ) | (86,754 | ) | (13,106 | ) |
97,635 | 112,082 | (106,352 | ) | 103,365 |
Restricted funds |
Revaluation Reserve | 184,399 | (11,400 | ) | 19,598 | 192,597 |
RioGeneration Fund | 42,777 | (6,965 | ) | 86,754 | 122,566 |
227,176 | (18,365 | ) | 106,352 | 315,163 |
TOTAL FUNDS | 324,811 | 93,717 | - | 418,528 |
Rio Centre (Dalston) Limited(The) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
20. | MOVEMENT IN FUNDS - continued |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 1,028,980 | (903,792 | ) | 125,188 |
RioGeneration Fund | - | (13,106 | ) | (13,106 | ) |
1,028,980 | (916,898 | ) | 112,082 |
Restricted funds |
Revaluation Reserve | - | (11,400 | ) | (11,400 | ) |
RioGeneration Fund | - | (6,965 | ) | (6,965 | ) |
- | (18,365 | ) | (18,365 | ) |
TOTAL FUNDS | 1,028,980 | (935,263 | ) | 93,717 |
21. | RELATED PARTY DISCLOSURES |