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← Cross Rhythms

2024-12-31-accounts

Charity Number 1069357 Company Number 03485699

CROSS RHYTHMS COMPANY LIMITED BY GUARANTEE TRUSTEES’ REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024

Howsons (Audit & Assurance) Limited PO Box 165 Winton House Stoke Road Stoke on Trent ST4 2RW

1

CROSS RHYTHMS COMPANY LIMITED BY GUARANTEE

YEAR ENDED 31 DECEMBER 2024

CONTENTS
Page
Charity information 3
Trustees' annual report 4
Independent examiner’s report 10
Statement of financial activities 11
Balance sheet 12
Notes to the accounts 14

2

CROSS RHYTHMS COMPANY LIMITED BY GUARANTEE

YEAR ENDED 31 DECEMBER 2024

CHARITY INFORMATION

Governance

The organisation is a charitable company limited by guarantee, incorporated and registered as a charity on 24 December 1997.

The company was established under a Memorandum of Association. The serving trustees elect the trustees.

Trustees and Directors Mr M A Barker Mr J Bowles Mr R Andrews (resigned 15 July 2024) Mr C Cole Mr A Boyd Ms D A Mitchell

Christopher J Cole is the founder of the Cross Rhythms ministry, and Alan Barker function together in a shared role as Chairman of the Board

Chief Executive Officer Mr J Bellamy
Company secretary Mr J Bowles
Registered office Conway House
Cheapside
Hanley
Stoke on Trent
ST1 1HE
Principal office Conway House
Cheapside
Hanley
Stoke on Trent
ST1 1HE
Independent Examiner Howsons (Audit & Assurance) Limited
PO Box 165
Winton House
Stoke Road
Stoke on Trent
ST4 2RW

3

CROSS RHYTHMS COMPANY LIMITED BY GUARANTEE

YEAR ENDED 31 DECEMBER 2024

TRUSTEES’ ANNUAL REPORT (INCORPORATING DIRECTORS’ ANNUAL REPORT)

The Board of Directors and Trustees present their annual report, together with the financial statements for the period ended 31 December 2024.

Principal activity for The trustees have referred to the guidance contained in the Charity the public benefit: Commission's general guidance on public benefit when reviewing the charity's aims and objectives, and in planning future objectives. Cross Rhythms continued its activities to promote the values of the Christian faith for the benefit of the public, particularly young people, through broadcast media and related initiatives of radio, internet, digital media and training. Radio Stations: The Cross Rhythms City Radio station continued broadcasting on 101.8FM and 96.6FM across Stoke-on-Trent and Newcastle-under-Lyme. The station is streamed on our website. Programmes are also syndicated to secular and Christian radio stations worldwide. We operate under the OFCOM (government agency for licensing of all communications granted) license. In addition we support current and explore future partnerships with groups in other cities keen to reproduce our FM Community Radio model. We continued developing our UK age 18 to 30 internet based platform xRhythms We also launched a second DAB xRhythms station in Stoke-on-Trent. Digital Media: Our website continues to present the ministry and interact with a global audience. The site has editorial content that is both music and non-music focussed. We also run a variety of social media sites for the different aspects, using Facebook, Twitter, YouTube and Instagram. Video content: We produce online video content for our social media pages. For our xRhythms platform we produce Vlogs (video bloggers/contributors) and other video content for our Visual Radio programming. Media Training We launched an accredited Media Training Centre in 2012. In 2024, Centre: although reduced in numbers from previous years, we continued to offer training in media and office skills for local students, or unemployed or retired volunteers, and local disadvantaged young people not in employment, education or training. In addition this centre also offers a pathway for aspiring young Christians from across the UK to follow a direction in Christian media.

Cross Rhythms is a member of the Community Media Association and also works with others with similar aims and objectives, including the Christian Broadcasting Council, other Christian broadcasters, local and national churches and ministries, and community leaders. We are still developing, where the opportunity arises, other associations and partnerships.

4

CROSS RHYTHMS COMPANY LIMITED BY GUARANTEE

YEAR ENDED 31 DECEMBER 2024

TRUSTEES’ ANNUAL REPORT (INCORPORATING DIRECTORS’ ANNUAL REPORT)

Organisation:

The Board of Directors meets regularly, most months, and is responsible for the ultimate strategic decisions, having regard to advice from the Chief Executive and senior management. All meetings are held by Zoom, except one physical meeting, normally in July or November held at the CR HQ in Stoke-on-Trent.

In addition the CEO holds regular discussions for information and guidance and updates with the Chairman of the board and relevant information is distributed to the members as appropriate by electronic means on at least a monthly basis. A formatted monthly reporting structure has been adopted to keep all trustees updated.

Review of the year's activities

Radio Stations:

The local FM station continued to serve the local churches and Christian ministries through on air programming, and the wider community through engaging with police, health, education, business, charities, MPs, councillors, theatres etc. The local Sentinel Newspaper supplied us with daily local news. Outside broadcasts included the Civic Prayer Breakfast and Your Heroes Awards. We continued to offer the station online and on mobile through RadioPlayer.

Our renovated and repurposed live studio, with new studio broadcast equipment is a valued asset. The result provides an increase in impact and awareness . New partnerships and programmes have emerged, including to deliver a weekly Business Spotlight programme; to be the media partner at the city’s Your Heroes Awards; and a new Close Encounters show.

Our FM station in Stoke targets a 25-55 audience. Our dedicated Facebook and Twitter pages for the station continued to grow this year with our targeted social media content.

The collaboration with other groups in other cities continues to deliver Cross Rhythms in Plymouth. We also continue to help develop and support an online community radio station in the Middle East.

We offer syndication of 10 unique weekly shows to about 50 stations worldwide .

Our XRhythms media platform, aimed at UK ages 18-30, took another step forward in 2023 with the launch of a second Small Scale DAB station in Stoke-on-Trent. There is potential to roll out more of these on multiplexes across the country.

5

CROSS RHYTHMS COMPANY LIMITED BY GUARANTEE

YEAR ENDED 31 DECEMBER 2024

TRUSTEES’ ANNUAL REPORT (INCORPORATING DIRECTORS’ ANNUAL REPORT)

xRhythms: Internet: Our website activity has continued throughout the year at around 200,000 unique users. The radio station is streamed online along with our Listen Again facilities. Our plan is a full repositioning of the main CR website. Media Training We continue to offer training and work experience placements for Centre: unemployed youth, as well as university and college student interns. Similarly through young contributors to our xRhythms vision - bloggers and vloggers. This platform offers many opportunities to a whole new swathe of young people to be trained in video production/presenting, editing, interviewing, journalism and social media skills. A new partnership with an online media training college will contribute to this. The number of volunteers working with the charity this year was about 65. Conway House: Rental income for use of our premises is a key support to the charity. This year all usable space has been rented out to tenants or used as meeting room space for our Wheelhouse coworking facility. We continued to make reparations and decorations within the building as required. The rental income is included in the Statement of Financial Activities under Income from non-charitable trading activities. Marketing: Much of our marketing is through partnerships, being at events, contra deals and through our own media platforms eg the monthly Email Communicator, social media etc. We occasionally attend events to profile the work. General: We continued to campaign for more monthly partners (Friends) and donors, as well as numerous trust applications. Board membership: The Board continues to function well with trustees who have expertise in key areas and carry that as a specific area of responsibility in addition to their collective responsibility. In addition, we have consultants who support the organisation as unpaid volunteers. Trustee Recruitment Cross Rhythms selects known potential trustees to fulfil a specific role and Training: within the board to provide levels of expertise necessary for the oversight and guidance to comply with our role and responsibilities on behalf of the donors. To ensure that the potential trustee fully understands the role a pack of information is provided that directs them towards the Charity Commissions guidance for a well-run charity and guidance for a wellmanaged company. A probationary period is required to allow a time of becoming aware of the role and responsibilities and after a review the appointment is then considered.

6

CROSS RHYTHMS COMPANY LIMITED BY GUARANTEE

YEAR ENDED 31 DECEMBER 2024

TRUSTEES’ ANNUAL REPORT (INCORPORATING DIRECTORS’ ANNUAL REPORT)

Financial review

The results for the year and the charity's financial position at the end of the year are shown in the attached accounts.

The performance of the charity over the year is a result of the actions taken as described in this report. The plans for the future include further consolidation of the position and eventual accumulation of reserves in accordance with the reserves policy as established by the trustees.

This year showed incoming resources of £217,064 (2023- £208,753). We turned in a small deficit, of £3,281 (2023- surplus £6,706).

Future developments

Since 1983 Cross Rhythms has developed a strong basis of operation. We are recognised at a local, national and international level for the quality and uniqueness of what we do. We continue to attract new donors, supporters, partners and Trust support. We have three primary foci for further growth:

1) First, aimed particularly at UK Youth through our new online media strategy XRhythms, along with social media, YouTube and Media Training aspects; now with the additional vision of multiple DAB radio stations.

3) Third, to engage more significantly in the business marketplace in Stoke-on-Trent through our coworking hub, The Wheelhouse and emerging opportunites

We expect to develop and extend our collaborations with existing and new partnerships. The board have identified that earned income will supplement gifted income.

We continue to carry a commitment to additional Cross Rhythms radio stations in UK cities and ongoing discussions with interested parties as they arise.

For the rear of 2025 to 2026 the trustees have a goal, to grow all that we do, including partnerships to work better together.

7

CROSS RHYTHMS COMPANY LIMITED BY GUARANTEE

YEAR ENDED 31 DECEMBER 2024

TRUSTEES’ ANNUAL REPORT (INCORPORATING DIRECTORS’ ANNUAL REPORT)

Volunteer involvement

Cross Rhythms supplement salaried staff with up to 65 volunteers and work experience students including reviewers and writers for the website. We also have a local FM radio board of reference made up of local church leaders.

Employee involvement

Cross Rhythms relies on the well-trained experienced commitment and hard work of 5 full or part time staff. Over many years we have retained a core team who are very motivated and increasingly mature to the vision of Cross Rhythms. Most would identify a key area of expertise, but all are responsible to serve the growing ministry when and where required. As a pioneering, but under-resourced ministry, Cross Rhythms relies on the support and commitment of quality volunteers. Weekly/Daily prayer/team meetings are held to build relationships, support and communicate between the departments. These meetings also help nurture the 'community' of a team with a vision of many components.

Risk policy

The trustees consider the risks to which the charity is subject and continue to develop ways to mitigate the risks.

The major risk areas identified by the Trustees are as follows:

Reserves policy

It is the intention of the trustees to maintain reserves sufficient to cover 3 months of expenses. The trustees have continued to reduce costs and constantly seek ways of increasing income.

The trustees

The trustees who served the charity during the period were as follows:

Responsibilities of the trustees/directors

The trustees are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and regulations and the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the trustees to prepare financial statements for each financial year that give a true and fair view of the state of affairs of the charity at the end of the year and of the incoming

8

YEAR ENDED 31 DECEMBER 2024 TRUSTEES, ANNUAL REPORT NCORPORATING DIRECTORS, ANNUAL REPORT) res￿rceS and applScatlon of resources. including Income and 8xpefHJlture. of the charlty for that yw. In preparing thosè financ4al statements the truste8s have". - selected suitable accountlng policles 8fKI then app￿ed them consistently,, - obseTved the methods and principles in the diarities SORP; - made judgements and 8Stlm8tes that are reasonable and pwdent; - stated vrtiether applicable UK acLounling standards have been followed. subject to any material departure disclosed and explained in the financial statem8nts' and prepar8d th8 finanaal statemènts on the going con(xn basls un￿sS it is inapproprfate lo presume the charty will conlinue in operallon. The tr￿e6 have overall responsibilty lor 8n8uring that the (*th has approprfate s5thm8 of controls. financlal and Othe￿IS8. They are also responslble for kee￿n9 proper accounting recorits disclose with reasonable accuracy at any lime the finandal posltbn of the charfty and anable them to 8n8ure that the financial statements will comFly wlth The Companles Act 2006. Th8y are also responsibb for safeguanllng the 0S8ets of the chanty 8nd henc8 for lakSng reasonabl8 Steps for the prevention and det8Ctlon of fraud and other irregutarlties. Trustees have complied wlth the duty in Section 17(5) of the Charitiès AGI 2011 to have due regard to guidantx published by the Charlty Commission. The Directors are also r6sponslble for the maintenance and integiity of the CA)rporate and finanaal infomatlon induded on the company's webstto. In so fw as the trustses are awar8 there is no re￿vant Inforrnation of vthich the chantys Independent Examlner is unawar8 and the biJstees have taken all sl8ps that they ought to have taken to make themselves aware of any relevant infoTnMtion and to estsblish that the Independenl Examir•r is aware of that infonnation. Th8 report is prepared ID accordance with the small CoMp￿Y r8gime (section 419(2} of the Companies Act 2006). Auditor The charity's trustees conslder that an audtt is not requirod for this year undèr section 144 of the Charki8s Acl 2011 fthe Charities ACV) and thal an independent examination is needed. Registered offi￿. Conway H(x Cheapsde Hanley Stokfron-Trent ST11HE Slgned by Drder Of th& trust885 Mr M A Barkor Dlrector Approved ty the ITUStees on

CROSS RItYrHMS COMPANY LIMrrED BY GUAIIINTEE YEAR ENDED 31 DECEMBER 2024 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES/ MEMBERS OF CROSS RH￿HMs COMPANY LIMITED BY GUARANTEE Independent examlner's report to the trustees of Cross Rhythms. I report to the charity trustees on my examination of the accounts of the company for the year ended 31 December 2024, which are s8t out on pages 11 to 24. Rasponsibllltlas and basis of report As the charity's trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts 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 r8POrt in respect of my examination of your 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 Commlssion under section 145(5)(b) of the 2011 Act. Independent examinerfs statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect: the accounting records were not kept in accordan￿ with section 130 of the Charities Act; or the accounts did not accord with the accounting records., or the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charltles (Accounts and Reports) Regulations 2008 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. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this reFK)rt in order to enable a proper understanding of the accounts to reached. James Parr {FCCA) Relevant Professional Body: ACCA Winton House Stoke Road Stoke-on-Trent ST4 2RW Date 10

CROSS RHYTHMS COMPANY LIMITED BY GUARANTEE

YEAR ENDED 31 DECEMBER 2024

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT)

Total Funds
Unrestricted
Restricted
2024
Note
£
£
£
Incoming resources from
generated funds
Voluntary income
2
80,151
44,772
124,923
Activities for generating
funds
Income from non-charitable
trading activities
3
63,889
0
63,889
Income from charitable trading
activities
4
28,252
0
28,252
92,141
0
92,141
Total incoming resources
172,292
44,772
217,064
Resources expended
Costs of generating funds
Costs of generating voluntary
income
5
9,307
0
9,307
Charitable activities
Costs in furtherance of
charitable objects
6
152,170
32,515
184,685
Governance costs
7
6,801
0
6,801
Other resources expended
Loan interest payable
8
19,552
0
19,552
Total resources expended
8
187,830
32,515
220,345
Net (expenditure)/ income for
the year
9
(15,538)
12,257
(3,281)
Net gain on investments
0
0
Transfers between funds
2,580
(2,580)
0
Other recognised gains and
losses
0
0
0
Net movement in funds relating
to the year
(12,958)
9,677
(3,281)
Balances brought forward
433,119
25,725
458,844
Balances carried forward
420,161
35,402
455,563		 Total Funds
2023
£
116,112
62,571
30,070
92,641
208,753
5,587
171,762
5,668
19,030
202,047
6,706
0
0
0
6,706
452,138
458,844

All of the activities of the charity are classed as continuing.

11

CROSS RHYTHMS COMPANY LIMITED BY GUARANTEE

YEAR ENDED 31 DECEMBER 2024

BALANCE SHEET

Total
Unrestricted
Restricted
2024
Note
£
£
£
Fixed assets
Intangible assets
10
3,968
8,288
12,256
Tangible assets
11
369,548
292
369,840
Investments
12
336,000
0
336,000
709,516
8,580
718,096
Current assets
Stock
0
0
0
Debtors
13
22,172
19,659
41,831
Cash at bank
0
6,675
6,675
22,172
26,334
48,506
Creditors: Amounts falling due
within one year
14
(80,984)
0
(80,984)
Net current liabilities
(58,812)
26,334
(32,478)
Total assets less current
liabilities
650,704
34,914
685,618
Creditors: Amounts falling due
after more than one year
15
(230,055)
0 (230,055)
Net assets
420,649
34,914
455,563
Funds
Restricted
16
0
34,914
34,914
Unrestricted
110,429
0
110,429
Revaluation reserve
310,220
0
310,220
Total funds
420,649
34,914
455,563		 Total
2023
£
14,884
375,840
336,000
726,724
0
26,629
4,410
31,039
(60,917)
(29,878)
696,846
(238,002)
458,844
25,725
122,899
310,220
458,844

12

YEAR ENDED 31 DECEMBER 2024 BALANCE SHEET The directors ad(nowledge their responsibillti8s for comptyÉng viith th8 requirements of the Companies Ad with respact to accountiTrJ records and the preparation of account& Th9se aw)unts hav8 ￿en prepared in accordance ￿ the provisions applicable to Small )mpanies subject to the small companies regime and in accor(Jance wlth the Chaiities SORP (FRS102). These accounts were approved by the members of the c¥Jmmittee on .,.. are ￿ned on their beha￿ by. Mr M A Bark8r Dlroctor Company Number 03485699 13

CROSS RHYTHMS COMPANY LIMITED BY GUARANTEE

YEAR ENDED 31 DECEMBER 2024

NOTES TO THE ACCOUNTS

1 Accounting Policies

The charity is a public benefit entity.

Basis of accounting

The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets and in accordance with the Statement of Recommended Practice "Accounting and Reporting by Charities" (SORP FRS102), the Charities Act 2011 and the Companies Act 2006. The accounts have also been prepared in accordance with the Financial Reporting Standard 102.

The charity's functional and presentational currency is the pound sterling. Therefore these financial statements are presented in pounds sterling.

Cash flow statement

The trustees have taken advantage of the exemption in Financial Reporting Standard 102 from including a cash flow statement in the accounts on the grounds that the charity is small.

Fixed Assets

Fixed assets are recorded at cost or, in cases where fixed assets have been donated to Cross Rhythms, at estimated market value at the time of acquisition. The Charity’s policy is only to capitalise items with an individual or collective value (where it is a group of assets) exceeding £250.

Depreciation

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

Equipment - 15% Reducing balance Improvements to property - 5% Straight line Website (Intangible asset) - 10% Straight line

Freehold property is not depreciated as any charge made would be offset by the effect of a revaluation. This is a departure from the Companies Act 2006 and the SORP (FRS102) which require depreciation to be applied to all assets (other than investment properties and heritage assets) which require the cost or valuation of an asset less residual value to be depreciated over the useful economic life. In the opinion of the trustees, this departure is necessary in order for the financial statements to give a true and fair view. Freehold property is not depreciated as the estimated residual value of the asset is not materially different from the carrying amount of the asset. An impairment review is undertaken annually.

The property was professionally revalued on 11 May 2020 and the valuation considered appropriate and adopted for these accounts. This property value has also been split between investment property and in use property. Had depreciation been applied to the property at, say, 2% (as is commonly applied to freehold property), a depreciation charge in the current year would have been £6,480 (2023 - £6,480).The effect on net assets would have been a reduction of £32,400 (2023 £25,920 due to the revaluation).

Investment Property

Investment Property is included at Market Value. An impairment review is undertaken annually and a professional valuation was conducted on 11 May 2020.

14

CROSS RHYTHMS COMPANY LIMITED BY GUARANTEE

YEAR ENDED 31 DECEMBER 2024

NOTES TO THE ACCOUNTS

Website

A new xRhythms website is included under intangible assets. The costs have been capitalised as the new website is a key requirement for the future direction of the charity and a significant investment. The website is stated at cost less accumulated amortisation and accumulated impairment losses. The costs are amortised over 10 years on a straight line basis from when the new website is brought into use being 28 September 2019. The amortisation period is based on the expected useful life of the website and has taken into account continued use and maintenance of the website.

Where factors, such as technological advancement indicate that the useful life has changed, the useful life or amortisation rate are amended prospectively to reflect the new circumstances. The assets are reviewed for impairment if the factors indicate that the carrying amount may be impaired.

Stock

Stock is shown at the lower of cost and net realisable value.

Financial Instruments

Financial instruments classification

Basic financial assets, including trade and other debtors, cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

Basic financial liabilities, including trade and other trade creditors, bank and other loans, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Financial Instruments recognition and measurement

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Financial Activities.

Impairment of financial assets

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised in the Statement of Financial Activities.

Financial assets are derecognised when a) the contractual rights to the cash flows from the asset expire or are settled, or b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Income

Income is recognised in the Statement of Financial Activities when the conditions for receipt have been met and there is reasonable assurance of receipt.

Grants are recognised once the resource is receivable by the charity and can be measured with reasonable reliability. Gifts in kind, such as assets given for use by the charity are recognised as income when received and are recorded at their estimated market value. Assets given for distribution by the charity are recognised as income when distributed. Voluntary help is not recognised in the Statement of Financial Activities.

15

CROSS RHYTHMS COMPANY LIMITED BY GUARANTEE

YEAR ENDED 31 DECEMBER 2024

NOTES TO THE ACCOUNTS

Expenditure

Expenditure incurred directly in the fulfilment of the charity's objectives is included in direct charitable expenditure.

Fund accounting

Unrestricted fund incoming resources have been received or generated for expenditure in furtherance of the general objectives of the charity.

Designated funds are unrestricted funds which have been designated for specific purposes by the trustees.

Restricted funds are to be used for specific purposes laid down by the donors.

Allocation of costs between activities

Staff costs have been allocated based on job roles and time spent between activities.

2 Voluntary income

Gifts and donations
Gift aid
Grants
3 Income from non-charitable trading
Rents from Cross Rhythms' premises		 Total Funds
2024
£
106,564
14,359
4,000
124,923
Total Funds
2024
£
63,889		 Total Funds
2023
£
100,938
13,174
2,000
116,112
Total Funds
2023
£
62,571

16

CROSS RHYTHMS COMPANY LIMITED BY GUARANTEE

YEAR ENDED 31 DECEMBER 2024

NOTES TO THE ACCOUNTS

4 Income from charitable trading activities

Total Funds
2024
£
Trading: Advertising and other station support
12,916
Other charitable trading
15,336
28,252		 Total Funds
2023
£
10,494
19,576
30,070

5 Activities for generating funds Costs of generating voluntary income

Costs of generating voluntary income
Marketing and fundraising costs
Staff costs		 Total Funds
Total Funds
2024
2023
£
£
5,040
2,082
4,267
3,505
9,307
5,587
6 Costs in furtherance of charitable objectives
Provision of charitable services
Radio
Other charitable trading
XRhythms
Media training
Cross Rhythms Worldwide
Other charitable support		 Total Funds
Total Funds
2024
2023
£
£
108,152
93,320
0
0
10,040
13,220
105
197
16,658
15,796
49,730
49,229
184,685
171,762
Analysis of provision of charitable services Analysis of provision of charitable services
Total Funds Total Funds
Staff costs Depreciation/
Amortisation		 Other costs 2024 2023
£ £ £ £ £
Radio 67,540 10,495 30,117 108,152 93,320
Other charitable trading 0 0 0 0 0
XRhythms 8,368 493 1,179 10,040 13,220
Media training 105 0 0 105 197
Cross Rhythms Worldwide 3,293 0 13,365 16,658 15,796
Other charitable support 11,747 0 37,983 49,730 49,229
91,053 10,988 82,644 184,685 171,762

17

CROSS RHYTHMS COMPANY LIMITED BY GUARANTEE

YEAR ENDED 31 DECEMBER 2024

NOTES TO THE ACCOUNTS

7 Governance

Salaries
Accountancy fees
Independent examination fees
Legal fees
Professional fees		 Total Funds
Total Funds
2024
2023
£
£
5,245
4,183
0
0
1,556
1,485
0
0
0
0
6,801
5,668

8 Total resources expended

Total Funds
Staff costs
Depreciation
Other costs
2024
£
£
£
£
Direct charitable expenditure
91,053
10,988
82,644
184,685
Activities for generating funds
4,267
0
5,040
9,307
Governance costs
5,245
0
1,556
6,801
Other resources expended
0
0
19,552
19,552
100,565
10,988
108,792
220,345
The aggregate payroll costs were:
2024
£
Wages and salaries
97,538
Social security costs
3,027
100,565		 Total Funds
2023
£
171,762
5,587
5,668
19,030
202,047
2023
£
87,027
1,764
88,791

18

CROSS RHYTHMS COMPANY LIMITED BY GUARANTEE

YEAR ENDED 31 DECEMBER 2024

NOTES TO THE ACCOUNTS

8 Total resources expended (continued)

As Charity Trustees, the Board of directors, who are not employees, are not included above. They receive no remuneration for their services. Expenses were reimbursed or paid directly to third parties for Travel and Accommodation to enable Trustees to attend Trustee meetings. The total paid in the year was £204 (2023 £687).

No employee received emoluments in excess of £60,000 during the period.

Particulars of employees:

The average number of staff employed by the charity during the financial year amounted to:

Number of fundraising staff
Number of administrative staff
Number of management staff
Other direct charitable staff		 2024
2023
No
No
0
0
2
2
1
1
2
2
5
5

Other costs:

Other costs:
Legal and Professional
Other
Net outgoing resources
Net outgoing resources after charging/(crediting)
Depreciation and amortisation
(Profit)/loss on disposal of fixed assets
Independent Examiner's remuneration - the independent
examination of the charity's accounts		 2024
2023
£
£
1,556
1,485
107,236
102,610
108,792
104,095
2024
2023
£
£
10,988
9,161
0
0
1,556
1,485

9 Net outgoing resources

19

CROSS RHYTHMS COMPANY LIMITED BY GUARANTEE

YEAR ENDED 31 DECEMBER 2024

NOTES TO THE ACCOUNTS

10 Intangible Fixed Assets
Cost or valuation
At 1 January 2024
Additions
Disposals
At 31 December 2024
Amortisation
At 1 January 2024
Charge for the year
At 31 December 2024
Net book value
At 31 December 2024
At 31 December 2023		 Website
£
26,272
0
0
26,272
11,388
2,628
14,016
12,256
14,884

20

CROSS RHYTHMS COMPANY LIMITED BY GUARANTEE

YEAR ENDED 31 DECEMBER 2024

NOTES TO THE ACCOUNTS

11 Tangible Fixed Assets

Cost or valuation
At 1 January 2024
Additions
Disposals
Transfer to investment property
Revaluation
At 31 December 2024
Depreciation
At 1 January 2024
Charge for the year
Eliminated on disposal
At 31 December 2024
Net book value
At 31 December 2024
At 31 December 2023		 Freehold
Property
Improvements
to Property
Equipment
£
£
£
324,000
4,445
129,133
0
0
2,360
0
0
0
0
0
0
0
0
0
324,000
4,445
131,493
0
1,149
80,589
0
222
8,138
0
0
0
0
1,371
88,727
324,000
3,074
42,766
324,000
3,296
48,544		 Total
£
457,578
2,360
0
0
0
459,938
81,738
8,360
0
90,098
369,840
375,840

The trustees completed the purchase of a freehold building previously occupied by BBC Radio Stoke on 31 May 2002 at a purchase price including equipment and transaction costs of £306,010. The property was professionally valued by Rory Mack Limited who are members of RICS professional body and external to the charity, on 11 May 2020, on a market value basis at £660,000, and their valuation has been adopted in the accounts. As the property is mixed use, it has been split between Investment Property at £336,000 (note 12) and Freehold Property in use at £324,000 (note 11).

12 Investment Property Cost or valuation £ At 1 January 2024 336,000 Transfer from Tangible fixed assets 0 Revaluation 0 At 31 December 2024 336,000

21

CROSS RHYTHMS COMPANY LIMITED BY GUARANTEE

YEAR ENDED 31 DECEMBER 2024

NOTES TO THE ACCOUNTS

13 Debtors

Trade debtors
Income tax recoverable
Other debtors
Prepayments		 2024
2023
£
£
1,275
4,046
795
236
23,330
10,725
16,431
11,622
41,831
26,629

14 Creditors: Amounts falling due within one year

Bank loans and overdrafts
Trade creditors
Taxation and social security
Other creditors
Gross wages and employers national insurance accrual
Accruals and deferred income		 2024
2023
£
£
7,653
6,339
7,692
7,175
4,207
1,027
25,650
11,778
0
0
35,782
34,598
80,984
60,917

Within accruals and deferred income above, £14,948 (2023 - £14,916) comprises rental income charged in advance.

15 Creditors: Amounts falling due after more than one year

2024
£
Bank and other loans
230,055
230,055
Of the above loan amounts the following amount is due in instalments after 5 years:
2024
£
Bank and other loans
192,924		 2023
£
238,002
238,002
2023
£
206,729

Included in loans due after more than one year is a loan from Triodos Bank for £230,055 that has been secured by a legal charge over the company's freehold premises and other assets with interest at 3% above the Bank of England base rate per annum. The loan has been measured at the principal amount payable. There is also a balance of £7,653 (2023 - £6,339) on this loan which is due in less than one year. This is included within Bank loans and overdrafts in note 14.

22

CROSS RHYTHMS COMPANY LIMITED BY GUARANTEE

YEAR ENDED 31 DECEMBER 2024

NOTES TO THE ACCOUNTS

16 Restricted funds

Media Training
fund
Churches Media
Trust
UK Youth
Broadcasting
Infrastructure
Other Restricted
gifts funds		 Brought
Forward
Incoming
resources
Outgoing
resources
Transfers
£
£
£
£
5,972
0
0
0
7,657
0
0
0
7,626
21,354
(17,721)
(2,679)
0
0
0
0
4,470
23,418
(15,282)
99
25,725
44,772
(33,003)
(2,580)		 Balance
carried
forward
£
5,972
7,657
8,580
0
12,705
34,914

Sufficient resources are considered to be held in an appropriate format to enable each fund to be applied.

Fund purposes:

The Churches Media Trust:

The Churches Media Trust grant has been provided for making bursaries available for students and to contribute towards the work for the Media Training Community Courses.

Media Training fund:

Launched in September 2012, the Cross Rhythms Media Training Centre is a base to train, equip and disciple the next generation of 'media missionaries'. Young people from across the UK explore a 'call' to serve God in media, gaining training in a variety of media courses, as well as invaluable work experience in a live FM radio setting. In addition, training in media, journalism, reception, administration and business skills are offered to local disadvantaged youth in partnership with groups such as Job Centre Plus. The fund balances above incorporate restricted giving towards various aspects of this work.

UK Youth: Reaching a youth generation through XRhythms.

61% of young people feel that adults are out of touch with their relationships; 46% believe that sexting is part of everyday teenage life; 43% experience bullying at least once a week; 20% selfharm on a regular basis and 41% believe religion is more often the cause of evil in the world. XRhythms will change the diet of what a youth generation is consuming through media! To offer them a Christian response to the issues affecting their lives. xRhythms was launched on 28 September 2019 and is a brand new online Visual Radio station complete with its own dedicated website, YouTube channel, and specialist use of social media platforms like Instagram, Snapchat and Facebook, aimed at the 13’s-20’s.

23

CROSS RHYTHMS COMPANY LIMITED BY GUARANTEE

YEAR ENDED 31 DECEMBER 2024

NOTES TO THE ACCOUNTS

(£8,580 (2023 - £11,259) of the fund balance is spent but still shown as a restricted fund balance as it is represented by restricted intangible and tangible fixed assets.)

17 Related Parties

Spirit of Plymouth (Radio) Limited is a radio station that uses the Cross Rhythms template and has a common trustee in Christopher Cole. During the year Cross Rhythms received income for support services totalling £7,747 (2023 - £6,920) of which £NIL (2023 - £NIL) was outstanding at the year end.

Undrawn net wages jointly by Jonathan Bellamy and his wife, Heather Bellamy, a member of Executive Management at the year end totalled £3,643 (2023 - £1,776).

All outstanding amounts stated above will be settled in cash.

Aggregate gifts in the year from related parties was £6,215 (2023- £3,265).

18 Going concern

The charity has net current liabilities of £32,478 (of which £14,948 relates to rental income charged in advance) and its income is substantially dependent upon gifts and donations which, by their very nature, are uncertain and would impact on the charity’s loan covenants and its ability to continue as a going concern. The charity’s forecasts and projections continue to show that the charity will be able to operate as a going concern for the foreseeable future. Accordingly, the trustees continue to adopt the going concern basis in preparing the annual report and financial statements.

19 Company limited by guarantee

Cross Rhythms is incorporated as a company limited by guarantee and is registered in England and Wales. The members are each liable to contribute up to £10 in the event of the company being wound up.

There were 5 directors at the year end and 6 at the beginning of the year. No directors were appointed during the year.

24