2022-04-30-accounts - Friends Of Wcr

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CHARITY REGISTRATION NUMBER: 1076696

The Friends of WCR Unaudited Financial Statements 30 April 2022

DIANA MILLER FCA, ROBINSON MILLER

Chartered accountants 3 Newopaul Way Warminster Wiltshire BA12 8RY

The Friends of WCR

Financial Statements

Year ended 30 April 2022

	Page
Trustees' annual report	1
Independent examiner's report to the trustees	5
Statement of financial activities	6
Statement of financial position	7
Notes to the financial statements	8

The Friends of WCR

Trustees' Annual Report

Year ended 30 April 2022

The trustees present their report and the unaudited financial statements of the charity for the year ended 30 April 2022.

Reference and administrative details

Registered charity name The Friends of WCR Charity registration number 1076696 Principal office 3 Newopaul Way Warminster Wiltshire BA128RY

The trustees

Mrs H Parks Mrs V Robertson Mrs K Mole Mr S Ryder Mr B Mole Mr A Robinson Mr D Cox Accountant Diana Miller FCA, Robinson Miller Chartered accountants 3 Newopaul Way Warminster Wiltshire BA12 8RY

Structure, governance and management

The Friends of WCR Charitable Trust was established on 20 April 1999. The Charity was registered as a Charitable Trust No. 1076696 on 15 July 1999.

The current Trustees are listed on page 1.

The Trust Deed provides for a minimum of three trustees.

The Trustees received no remuneration or other benefits during the year.

Trustees' Annual Report (continued)

The Friends of WCR

Year ended 30 April 2022

Objectives and activities

The objectives of the Charity are to support the Charitable Activities of WCR Community Radio as well as other Charitable purposes in the West Wilts and East Somerset areas. To achieve this aim, the Trustees were empowered to seek donations and raise funds.

Objectives of the Charity:

To promote the provision of a community radio station as a recreational facility for individuals who have need of such facilities by reason of their youth, age, infirmity or disablement, financial hardship or social and economic circumstances; in particular but not exclusively for the inhabitants of Warminster and the surrounding area, or for the public at large, including members of the public attending charitable and not for profit community festivals elsewhere within the UK, in the interest of social welfare and with the object of improving the conditions of life of the said inhabitants.
To advance education, in particular but not exclusively in vocational educational training in audio and general broadcasting skills.
Any other charitable purpose agreed by special resolution under the articles of the company, and notified to, and accepted by the Charities Commission as charitable.

Public Benefit

The Trustees confirm they have referred to the guidance contained in the Charities Commission's general guidance on public benefit when reviewing the Trust's aims and objectives and in the planning of future activities. In supporting WCR Community Radio the charity assists in providing radio services which assist the community in keeping advised of all significant information and events within a five mile radius of Warminster and providing a voice for local organisations reaching out to the local community.

There have been no changes to the charitable objectives this year. The charity remains committed to providing a community radio service to the people of Warminster and surrounding area to alleviate suffering by loneliness, poverty, disability or location.

The Friends of WCR

Trustees' Annual Report (continued)

Year ended 30 April 2022

Achievements and performance

The Charity has continued to administer its funds in a manner consistent with its stated objectives. The Charity's unrestricted funds stood at £28,940 at 30 April 2022 (£20,208 at 30 April 2021) and restricted funds were £47,997 (2021: £56,053).

The charity has continued to ensure the necessary funds for the operational activities of WCR are available, whilst also providing training positions to ensure local people can be educated in the skills required to be a radio presenter.

Friends of WCR was able to secure funding to maintain the service throughout the Covid pandemic when income from fundraising activities temporarily ceased. Support from the government-funded charity support scheme at Wiltshire and Swindon Community Partnership was secured. This enabled the organisation to continue normal operation and support of the town through its radio activities, as well as payment of all statutory licences. Further, The Friends of WCR was able to put in place secure conditions for Covid-based operation for volunteers.

Financial review

Reserves Policy

The financial reserves which have been set aside provide financial stability and the means for the developments of the charity's objectives.

The Trustees regularly review the amount of funds that the charity requires to ensure they are adequate to fulfill the charity's continuing obligations and always ensure they have sufficient funds for foreseeable running costs.

The Trustees are always mindful that income streams must be secured for the future. Income from local events will inevitably be significantly reduced as a result of Covid 19. The trustees have however recently applied for several grants to help mitigate the effect of this lost revenue. WCR Community Radio has however recently secured a 5 year service level agreement with Warminster Town Council which will greatly assist in achieving funding objectives.

Risk Management

The Trustees identified and successfully managed the significant risk to funding presented by the effects of Covid-19. Friends of WCR has an active risk management and assessment process which is reviewed annually.

Plans for future periods

Friends of WCR has established a charitable activity project to provide broadcasting opportunities to teenagers in Warminster and the surrounding area. Moving into future periods, the Trustees are looking towards seeking grant funding and fundraising opportunities to expand this programme. Also in the year, four new Trustees were appointed with a view of sustaining the charity in future periods. Their experience from a range of backgrounds includes public sector experience as well as corporate and charitable organisations and will stand the Trustees in good stead for excellent decision-making and future planning.

The Friends of WCR

Trustees' Annual Report (continued)

Year ended 30 April 2022

Trustees' responsibilities statement

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

The law applicable to charities in England and Wales requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, of the charity for that period.

In preparing these financial statements, the trustees are required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the applicable Charities SORP;
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees' annual report was approved on 27 February 2023 and signed on behalf of the board of trustees by:

Mr B Mole Mr A Robinson Trustee Trustee

The Friends of WCR

Independent Examiner's Report to the Trustees of The Friends of WCR

Year ended 30 April 2022

I report to the trustees on my examination of the financial statements of The Friends of WCR ('the charity') for the year ended 30 April 2022.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

accounting records were not kept in respect of the charity as required by section 130 of the Act; or
the financial statements do not accord with those records; or
the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (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 report in order to enable a proper understanding of the accounts to be reached.

Diana Miller Independent Examiner 3 Newopaul Way Warminster Wiltshire BA12 8RY

27 February 2023

The Friends of WCR

Statement of Financial Activities

Year ended 30 April 2022

			2022		2021
		Unrestricted	Restricted
		funds	funds	Total funds	Total funds
	Note	£	£	£	£
Income and endowments
Donations and legacies	4	21,964	2,515	24,479	25,998
Charitable activities	5	816	–	816	50
Investment income	6	3	–	3	2
		��	��	��	��
Total income		22,783	2,515	25,298	26,050
		��	��	��	��
Expenditure
Expenditure on raising funds:
Costs of other trading activities	7	223	–	223	–
Expenditure on charitable activities	8,9	13,829	10,570	24,399	22,702
		��	��	��	��
Total expenditure		14,052	10,570	24,622	22,702
		��	��	��	��
		��	��	��	��
Net income and net movement in	funds	8,731	(8,055)	676	3,348
		��	��	��	��
Reconciliation of funds
Total funds brought forward		20,209	56,052	76,261	72,914
		��	��	��	��
Total funds carried forward		28,940	47,997	76,937	76,261
		��	��	��	��

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 8 to 15 form part of these financial statements.

The Friends of WCR

Statement of Financial Position

30 April 2022

		2022	2021
	Note	£	£
Fixed assets
Tangible fixed assets	13	56,068	56,740
Current assets
Stocks	14	20	20
Debtors	15	2,665	2,883
Cash at bank and in hand		18,388	16,939
		��	��
		21,073	19,842
Creditors: amounts falling due within one year	16	204	320
		��	��
Net current assets		20,869	19,522
		��	��
Total assets less current liabilities		76,937	76,262
		��	��
Net assets		76,937	76,262
		��	��
Funds of the charity
Restricted funds		47,997	56,052
Unrestricted funds		28,940	20,209
		��	��
Total charity funds	17	76,937	76,261
		��	��

These financial statements were approved by the board of trustees and authorised for issue on 27 February 2023, and are signed on behalf of the board by:

Mr B Mole Trustee

Mr A Robinson Trustee

The notes on pages 8 to 15 form part of these financial statements.

The Friends of WCR

Notes to the Financial Statements

Year ended 30 April 2022

1. General information

The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 3 Newopaul Way, Warminster, Wiltshire, BA12 8RY.

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 Charities Act 2011.

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.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102:

(a) No cash flow statement has been presented for the company.

(b) Disclosures in respect of financial instruments have not been presented.

Judgements and key sources of estimation uncertainty

There were no significant matters requiring judgement or estimation uncertainty.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

The Friends of WCR

Notes to the Financial Statements (continued)

Year ended 30 April 2022

3. Accounting policies (continued)

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, noncharitable 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.

The Friends of WCR

Notes to the Financial Statements (continued)

Year ended 30 April 2022

3. Accounting policies (continued)

Tangible assets (continued)

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:

Leasehold Premises	-	4% straight line
Motor vehicles	-	25% reducing balance
Equipment	-	15% reducing balance
Studio Refurbishment	-	20% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cashgenerating 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.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

4. Donations and legacies

	Unrestricted	Restricted	Total Funds
	Funds	Funds	2022
	£	£	£
Donations
Fund Raising and Allied Services	3,213	–	3,213
Computer Fund Donations	–	2,515	2,515
Other Donations	81	–	81

The Friends of WCR

Notes to the Financial Statements (continued)

Year ended 30 April 2022

4. Donations and legacies (continued)

			Unrestricted	Restricted	Total Funds
			Funds	Funds	2022
			£	£	£
	Grants
	Grants to cover Licence Fees		–	–	–
	Wiltshire Council Grants		6,218	–	6,218
	Subscriptions
	Membership, including Gift Aid		1,652	–	1,652
	Other donations and legacies
	WCR Community Radio donations		10,800	–	10,800
			��	��	��
			21,964	2,515	24,479
			��	��	��
			Unrestricted	Restricted	Total Funds
			Funds	Funds	2021
			£	£	£
	Donations
	Fund Raising and Allied Services		599	80	679
	Computer Fund Donations		–	3,740	3,740
	Other Donations		422	–	422
	Grants
	Grants to cover Licence Fees		–	9,165	9,165
	Wiltshire Council Grants		–	–	–
	Subscriptions
	Membership, including Gift Aid		1,092	–	1,092
	Other donations and legacies
	WCR Community Radio donations		10,900	–	10,900
			��	��	��
			13,013	12,985	25,998
			��	��	��
5.	Charitable activities
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2022	Funds	2021
		£	£	£	£
	100 Club Income	426	426	–	–
	Westbury Town Council Grant	300	300	–	–
	Other income	90	90	50	50
		��	��	��	��
		816	816	50	50
		��	��	��	��

The Friends of WCR

Notes to the Financial Statements (continued)

Year ended 30 April 2022

6. Investment income

		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2022	Funds	2021
		£	£	£	£
	Interest Received	3	3	2	2
		��	��	��	��
7.	Costs of other trading activities
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2022	Funds	2021
		£	£	£	£
	Costs of other trading activities - T
	Shirt Costs	223	223	–	–
		��	��	��	��
8.	Expenditure on charitable activities	by fund type
			Unrestricted	Restricted	Total Funds
			Funds	Funds	2022
			£	£	£
	Management and Administrative Expenditure		13,829	10,570	24,399
			��	��	��
			Unrestricted	Restricted	Total Funds
			Funds	Funds	2021
			£	£	£
	Management and Administrative Expenditure		12,944	9,759	22,702
			��	��	��
9.	Expenditure on charitable activities	by activity type
			Activities
			undertaken	Total funds	Total fund
			directly	2022	2021
			£	£	£
	Management and Administrative Expenditure		24,399	24,399	22,702
			��	��	��
10.	Net income
	Net income is stated after charging/(crediting):
				2022	2021
				£	£
	Depreciation of tangible fixed assets			9,700	8,909
				��	��
11.	Staff costs
	The total staff costs and employee benefits for the reporting period are analysed as				follows:
				2022	2021
				£	£
	The average head count of employees	during the year	was Nil (2021:	Nil).

The Friends of WCR

Notes to the Financial Statements (continued)

Year ended 30 April 2022

11. Staff costs (continued)

No employee received employee benefits of more than £60,000 during the year (2021: Nil).

12. Trustee remuneration and expenses

No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.

13. Tangible fixed assets

		Short
	leasehold		Motor
		property	vehicles	Equipment	Studio refit	Total
		£	£	£	£	£
	Cost
	At 1 May 2021	50,050	10,258	62,591	64,681	187,580
	Additions	–	–	9,028	–	9,028
		��	��	��	��	��
	At 30 April 2022	50,050	10,258	71,619	64,681	196,608
		��	��	��	��	��
	Depreciation
	At 1 May 2021	20,020	7,869	49,724	53,227	130,840
	Charge for the year	2,002	597	3,284	3,817	9,700
		��	��	��	��	��
	At 30 April 2022	22,022	8,466	53,008	57,044	140,540
		��	��	��	��	��
	Carrying amount
	At 30 April 2022	28,028	1,792	18,611	7,637	56,068
		��	��	��	��	��
	At 30 April 2021	30,030	2,389	12,867	11,454	56,740
		��	��	��	��	��
14.	Stocks
					2022	2021
					£	£
	Stock				20	20
					��	��
15.	Debtors
					2022	2021
					£	£
	Amounts owed by undertakings in	which the charity has a
	participating interest				2,300	2,600
	Prepayments and accrued income				365	283
					��	��
					2,665	2,883
					��	��
16.	Creditors: amounts falling due within one year
					2022	2021
					£	£
	Accruals and deferred income				204	320
					��	��

The Friends of WCR

Notes to the Financial Statements (continued)

Year ended 30 April 2022

17. Analysis of charitable funds

Unrestricted funds

Unrestricted funds
				At
	At			30 April 202
	1 May 2021	Income	Expenditure	2
	£	£	£	£
General funds	20,209	22,783	(14,052)	28,940
	��	��	��	��
	At			At
	1 May 2020	Income	Expenditure	30 April 2021
	£	£	£	£
General funds	20,088	13,065	(12,944)	20,209
	��	��	��	��
Restricted funds
				At
	At			30 April 202
	1 May 2021	Income	Expenditure	2
	£	£	£	£
Studio Equipment and Refurbishment	10,623	–	(3,135)	7,488
Leasehold Premises	30,030	–	(2,002)	28,028
Motor Vehicle	2,090	–	(567)	1,523
Other	4,081	–	–	4,081
Licence Fees	5,488	–	(3,928)	1,560
Computer Fund	3,740	2,515	(938)	5,317
	��	��	��	��
	56,052	2,515	(10,570)	47,997
	��	��	��	��
	At			At
	1 May 2020	Income	Expenditure	30 April 2021
	£	£	£	£
Studio Equipment and Refurbishment	13,866	80	(3,323)	10,623
Leasehold Premises	32,032	–	(2,002)	30,030
Motor Vehicle	2,847	–	(757)	2,090
Other	4,081	–	–	4,081
Licence Fees	–	9,165	(3,677)	5,488
Computer Fund	–	3,740	–	3,740
	��	��	��	��
	52,826	12,985	(9,759)	56,052
	��	��	��	��

The Friends of WCR

Notes to the Financial Statements (continued)

Year ended 30 April 2022

18. Analysis of net assets between funds

	Unrestricted	Restricted	Total Funds
	Funds	Funds	2022
	£	£	£
Tangible fixed assets	9,630	46,439	56,069
Current assets	19,514	1,558	21,072
Creditors less than 1 year	(204)	–	(204)
	��	��	��
Net assets	28,940	47,997	76,937
	��	��	��
	Unrestricted	Restricted	Total Funds
	Funds	Funds	2021
	£	£	£
Tangible fixed assets	9,915	46,825	56,740
Current assets	10,614	9,228	19,842
Creditors less than 1 year	(320)	–	(320)
	��	��	��
Net assets	20,209	56,053	76,262
	��	��	��