CHARITY COMMISSION FOR ENGLAND AND WALES Trustees, Annual Report for the period: From 1 St April 2022 Period start date To 31 St March 2023 Period end date Charty name: Voice of HOPE RADIO also known as HOPEFM Charity registration number: 1106103 Objectives and Activities Summary of the PUfFNJses of the charty as sel out in tts governing dUment Para 1.17 A Ic1 communty raJN) station broadcasting the Christian Gospel as well as proVlg Sccial Gain in the BCP CL)nurbation via radio We continue to serve.and produce content for, marginalized groups in the BCP communty- in particular through Radio versions of Mefflory Groups Thanks For The Memory. designed in partnership wtth a local Church's Older Peoples Ministy. We hosted and gave a platfom to Charitable causes- allowing them to tell their stories and share their (rbvn achtevements and needs Summary oflhe main activities in relation to those purposes for the public benefrt, in partular. the activities. projects or services nttfied in the accounts. Para 1.17 8 1.19 A)We continue to serve, and produ contenl for marginalised groups, Bl We began a program of training and increasing involvement of volunteers with sight-loss. C) We successfulty hosted 10+ School and Unrwersity students throughout the year- gNing them work experien. Statement confirming whether the trustees have had regard to the guidance issued by the Charty Commission on public benef Para 1.18 Truslees have all been sent a copy of statement of recommended practices (FRS 102) to aware of guKlance issued by the Charity Commission on public beneftl. Additional infofmation {optional You ma choose to inclLtde fijrther staterrEnts where relevant about..
P¥8 1.38 Policy on grarrt making Hopefm sal invesbnent takes the form of training and encouraging volunteers, and those work plaMentS of students. We began a program of training and increasing involvement of volunteers with sight-loss. By using one of our experienced volunteers, who herself has artial si ht Hope FM in its activities of broadcasting and sock81 media lies on volunteers in the main. Hope has taken on 5 pem)anent volunteers. Working as both offe and production asststants. and on air resenters Para 1.38 Policy on social investment including program related investment Contribution made by volunteers P*¥ f.38 Achievements and Perfonnance Summary of the main achievements ofthe charity. identifying the difference the charity's work has made to the circumstances of its beneficiaries and any yder benefits to SOCW as a whole. 11 HopeFM. through the rnedium of RadK) and s(Kial media advances the Chiistian faith and other community charitable works in the BCP conurbation. P¥a 1.20 21 Hope successfully hosled 10+ School and Untversty students throughoul the year- grwng them work expern, training, and actual ON AIR experien 3) Hope suppcKts those volunteers. who work thfough the nruM of tadio in providing the Serv for the communty, 41 Our partnership with Communty ActM)n Network has allowed us to reach new charttres from whger Dorset, and beyond, in order to give them a platfomi. Additional information (optional) You ma choose to include fvrther statements where relevant about." Our objects being to provide sc[al gain in the BCP conurbation via radio are itemized as achEvements ave in 1.20 Achievements against objectives set P¥a 1.41 Perfotrnan of fundiaising P¥a 1.41
actrvities against obj"e¢tpS Investment perfotman against objectives P¥a 1.41 Other Financial Review Review of the ch2rits financial position at the end of the eriod Statement explaining the policy for hol(Jing reserves statin are hekl Amount of reserves held Reasons for holding zero reserves Details of fund materialty in deficit Explanation of any uncertainties atK)ul the charity continuing as a going oncem PJa 121 Included in thts rewrt P¥a122 The charity continues to work towards setting up a reserve bank acwunt. PJ3 1.22 Paa 1.22 Pa 124 Pwa123 The charity continues to work towards firm financial settings. Additional infomialion (optional) You chcrf)se to include ftjrther statements vthere revant about: HopeFM's fijnding streams (x)me from a number of sources" Advertising. sponsorship, gIftdOnatIons and grants. The charity's principal sources of fvnds (including any fundraising) Pa 1.47 Investment pdicy and objectives including any social investmenl policy adopled P¥a 1.46 A descriptton of the wincipal risks facing the chartrty Pa 1.46 Other
Structure, Governance and Management DescriptFon of charty'5 Irusts: Type of goveming dcuMent 125 Articles of Association. How is the chatity constituted? -.g unincorporated Para 125 Company incorporated as private limited by guarantee. Trustee selection methojs including details of any constitutional provisions e.g. election to post or name of any person or body entitled lo appoint one or more trustees Para 1.25 Appointed by quorum of Trustees. Additional infomiation (opttonall You ma choose to include further statements where leVant abouL' Polictes and procedures adopled for the induction and training of trustees Para 1.51 The chanty's organisath)na structure and any wider netwofk with which the charity works Para 1.51 RelatKsnship with any reed parties Para 1.51 Other Reference and Administrative details Chari name Other name the cha uses istered cha numkr Charity's principal add$$ VO of Ho Radio FM Radm) 1106103 Emberton House Yeomans Way Boumemouth BH8 OBP
Names of the charity trustees who manage the chafity Trustee name Office lrfanyl Chair Trustee Trustee Trustee Trustee Trustee Dates acted rf notforwhcl of person ltsr body) entitled ittttrusteÈ Ken Pimenta lan Robertson Tim HeywcM)d Rob Barron Di Barron 2111119 7r20 2111119 116120 October 2020 10 12 13 14 15 16 17 18 19 20 orate trustees- names of the directrxs at the date the re Dir•ctor name rtwasa roved Name of trustees hokjing tttte to property bek)nging to the chartty Trustee name Dates acled if not forTholo
Funds held as custodian trustees on behalf of others Description of the assets held in this capacty Name and objects ofthe charrty on whose behalf the assels are held and how this falls wtthin the custodian charty's objects Details of arrangements for safe custody and segregation of such assets from the charrty's own assets Additional infomiation (optional) Names and addresses of advisers (Oplional infomiationl Type of Name Address adviser Founder and President Blair Crawford Freda Rd. Christchurch. Boumemouth Name of chief executive or names of senior staff members (Optional infomiation) Blair Crawford Exemptions from disclosure Reason for noTrdisclosure of k nnel detaiL8 Other o tional inforniation
Declarations The teS declare that they have approved the trustees. report above. Slgned on behalf of the charity's trustees Signature(s) Full name(s) Position (eg Sè¢retary, Chair, etc) pljTA ¥IAl- TLJ&TEE£
Voice OF Hope Radio
Charity No. 04331219
Company No. 04331219
Trustees' Report and Unaudited Accounts
31 March 2023
Voice OF Hope Radio Contents
| Pages | |
|---|---|
| Trustees' Annual Report | 2 to 6 |
| Independent Examiner's Report | 7 |
| Statement of Financial Activities | 8 |
| Summary Income and Expenditure Account | 9 |
| Balance Sheet | 10 |
| Statement of Cash flows | 11 |
| Notes to the Accounts | 12 to 18 |
| Detailed Statement of Financial Activities | 19 to 20 |
Page 1
Voice OF Hope Radio Trustees Annual Report
Hope FM
The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 31 March 2023.
REFERENCE AND ADMINISTRATIVE DETAILS
Company No. 04331219
Charity No. 04331219
Principal Office
Emberton House Yarrow Way Bournemouth Dorset BH8 0BP
Registered Office
Emberton House Yeomans Way Bournemouth BH8 0BP
Directors and Trustees
The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year:
D. Barron R.R. Barron T. Heywood K. Pimenta
I. Robertson
Accountants
Pope Accountancy Services Ltd 13 Douglas Road Southbourne Bournemouth Dorset BH6 3ER
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 2
Voice OF Hope Radio Trustees Annual Report
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).
Signed on behalf of the board
K. Pimenta
Trustee
31 March 2023
Page 3
Voice OF Hope Radio Audit Report Unqualified
Independent Auditor's Report to the Members of Voice OF Hope Radio
Opinion
We have audited the accounts of Voice OF Hope Radio (the 'charitable company') for the year ended 31 March 2023 which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account, the Balance Sheet, the Statement of Cash Flows and the Notes to the Accounts, 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, including FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the accounts:
-
give a true and fair view of the state of the charitable company's affairs as at 31 March 2023 and of its profit/loss 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 Auditor’s responsibilities for the audit of the accounts 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 accounts in the UK, including the FRC’s Ethical Standard, and the provisions available for small entities, in the circumstances set out below, 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 accounts, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the accounts 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 charity's ability to continue as a going concern for a period of at least twelve months from when the accounts are authorised for issue.
Our responsibilities and the responsbilities of the trustees with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the trustees' report and accounts, other than the accounts and our auditor’s report thereon. The trustees are responsible for the other information.
Our opinion on the accounts 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 accounts, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the accounts 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 there is a material misstatement in the accounts or a material misstatement of the other information. 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.
Page 4
Voice OF Hope Radio Audit Report Unqualified
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based upon the work undertaken in the course of the audit:
-
the information given in the Trustees' Report,which includes the Directors' Report prepared for the purposes of company law for the financial year for which the accounts are prepared is consistent with the accounts; and
-
the Directors' Report included within the Trustees' Report has been prepared in accordance with applicable legal requirements.
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 Directors' Report included within the Trustees' Report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
-
adequate and proper accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us;
-
the accounts are not in agreement with the accounting records and returns;
-
certain disclosures of Trustees' remuneration specified by law are not made;
-
we have not received all the information and explanations we require for our audit;
-
the trustees were not entitled to prepare the accounts in accordance with the small companies regime and take advantage of the small companies exemption in preparing the Directors' Report and take advantage of the small companies exemption from the requirement to prepare a Strategic Report.
Responsibilities of trustees
As explained more fully in the Trustees' Responsibilities Statement found in the Trustees' Report, the trustees (who are also the directors of the charitable company for the purpose of company law) are responsible for the preparation of the accounts 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 accounts that are free from material misstatement, whether due to fraud or error.
In preparing the accounts, 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 intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the accounts
Our objectives are to obtain reasonable assurance about whether the accounts as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report 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 accounts.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
A further description of our responsibilities for the audit of the accounts is located on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Page 5
Voice OF Hope Radio Audit Report Unqualified
Use of this report
This report is made solely to the 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 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 charity's members as a body, for our audit work, for this report, or for the opinions we have formed.
Carrianne Pope, Senior Statutory Auditor
For and on behalf of Pope Accountancy Services Ltd, Accountants and Statutory Auditors 13 Douglas Road
Southbourne
Bournemouth Dorset BH6 3ER 31 March 2023
Pope Accountancy Services Ltd is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a charity under section 1212 of the Companies Act 2006.
Page 6
Voice OF Hope Radio Independent Examiners Report
Independent Examiner's Report to the trustees of Voice OF Hope Radio
I report to the charity trustees on my examination of the financial statements of Voice OF Hope Radio for the year ended 31 March 2023.
Responsibilities 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 financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act.
Having satisfied myself that the financial statements of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's financial statements as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in accordance with section 386 of the 2006 Act ; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the accounting requirements under section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination; or
-
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Carrianne Pope FMAAT Pope Accountancy Services Ltd 13 Douglas Road Southbourne Bournemouth Dorset BH6 3ER 31 March 2023
Page 7
Voice OF Hope Radio Statement of Financial Activities
for the year ended 31 March 2023
| Notes Income and endowments from: Donations and legacies 4 Other trading activities 5 Total Expenditure on: Raising funds 6 Other 7 Total Net gains on investments Net expenditure 8 Transfers between funds Net expenditure before other gains/(losses) Other gains and losses Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds 2023 £ 26,737 10,102 |
Total funds 2023 £ 26,737 10,102 |
Total funds 2022 £ 42,610 12,132 |
|---|---|---|---|
| 36,839 4,813 39,024 |
36,839 4,813 39,024 |
54,742 - 58,203 |
|
| 43,837 - |
43,837 - |
58,203 - |
|
| (6,998) - |
(6,998) - |
(3,461) - |
|
| (6,998) | (6,998) | (3,461) | |
| (6,998) 33,423 |
(6,998) 33,423 |
(3,461) 36,884 |
|
| 26,425 | 26,425 | 33,423 |
Page 8
Voice OF Hope Radio Summary Income and Expenditure Account for the year ended 31 March 2023
| Income Gross income for the year Expenditure Depreciation and charges for impairment of fixed assets Total expenditure for the year Net expenditure before tax for the year Net expenditure for the year |
2023 £ 36,839 36,839 41,108 2,729 43,837 (6,998) (6,998) |
2022 £ 54,742 |
|---|---|---|
| 54,742 | ||
| 58,203 - |
||
| 58,203 | ||
| (3,461) | ||
| (3,461) |
Page 9
Voice OF Hope Radio Balance Sheet
at 31 March 2023
| Company No. 04331219 Notes 2023 £ Fixed assets Tangible assets 10 5,459 5,459 Current assets Debtors 11 1,599 Cash at bank and in hand 19,511 21,110 Creditors:Amount falling due within one year 12 (144) Net current assets 20,966 Total assets less current liabilities 26,425 Net assets excluding pension asset or liability 26,425 Total net assets 26,425 The funds of the charity Restricted funds 13 Unrestricted funds 13 General funds 26,425 26,425 Reserves 13 Total funds 26,425 |
2022 £ 8,188 |
|---|---|
| 8,188 5,803 22,414 |
|
| 28,217 (2,982) |
|
| 25,235 33,423 |
|
| 33,423 | |
| 33,423 | |
| 33,423 | |
| 33,423 | |
| 33,423 |
These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
For the year ended 31 March 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
Approved by the board on 31 March 2023
And signed on its behalf by:
K. Pimenta Trustee 31 March 2023
Page 10
Voice OF Hope Radio Statement of Cash flows for the year ended 31 March 2023
| Cash flows from operating activities Net expenditure per Statement of Financial Activities Adjustments for: Depreciation of property, plant and equipment Decrease in trade and other receivables Decrease in trade and other payables Net cash used in operating activities Net cash from investing activities Net cash from financing activities Net decrease in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year Components of cash and cash equivalents Cash and bank balances |
2023 £ (6,998) 2,729 4,204 (2,837) (2,902) - - (2,902) 22,414 19,512 19,511 19,511 |
2022 £ - - - - |
|---|---|---|
| - | ||
| - | ||
| - | ||
| - | ||
| - | ||
| - | ||
| 22,414 | ||
| 22,414 |
Page 11
Voice OF Hope Radio Notes to the Accounts
for the year ended 31 March 2023
- 1 Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Change in basis of accounting or to previous accounts
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
Fund accounting
-
Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
-
Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
-
Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
Income
-
Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
-
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
-
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.
Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets
Page 12
Voice OF Hope Radio Notes to the Accounts
Expenditure
-
Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
-
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
-
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
-
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
-
Other expenditure These are support costs not allocated to a particular activity.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
Fixtures & Fittings 25%% Reducing Balance
Freehold investment property
Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.
Stocks
Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.
Trade and other debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
Page 13
Voice OF Hope Radio Notes to the Accounts
Trade and other creditors
Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Foreign currencies
Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.
All exchange differences are are taken into account in arriving at net income/expenditure.
Leased assets
Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.
Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.
Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs. Assets held under finance leases are depreciated in the same way as owned assets.
Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.
Pension costs
The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
Receipt of donated goods, facilities and services
All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.
Page 14
Voice OF Hope Radio Notes to the Accounts
2 Company status
The company is a private company limited by guarantee and consequently does not have share capital.
3 Statement of Financial Activities - prior year
| Income and endowments from: Donations and legacies Other Total Expenditure on: Charitable activities Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds carried forward 4 Income from donations and legacies 5 Income from other trading activities |
Unrestricted £ 26,737 26,737 Unrestricted £ 10,102 10,102 |
Unrestricted funds 2022 £ 42,610 12,132 54,742 58,203 58,203 (3,461) (3,461) (3,461) (3,461) Total 2023 £ 26,737 26,737 Total 2023 £ 10,102 10,102 |
Total funds 2022 £ 42,610 12,132 |
|---|---|---|---|
| 54,742 58,203 |
|||
| 58,203 | |||
| (3,461) | |||
| (3,461) | |||
| (3,461) | |||
| (3,461) | |||
| Total 2022 £ 42,610 |
|||
| 42,610 | |||
| Total 2022 £ 12,132 |
|||
| 12,132 |
Page 15
Voice OF Hope Radio Notes to the Accounts
- 6 Expenditure on raising funds
| Costs of generating voluntary income 7 Other expenditure Employee costs Motor and travel costs Premises costs Amortisation, depreciation, impairment, profit/loss on disposal of fixed assets General administrative costs Legal and professional costs 8 Net expenditure before transfers This is stated after charging: Depreciation of owned fixed assets 9 Staff costs Salaries and wages Social security costs Pension costs |
Unrestricted £ 467 4,346 4,813 Unrestricted £ 15,894 1,186 1,780 2,729 8,369 9,066 39,024 2023 £ 2,729 2023 13,708 1,370 816 15,894 |
Total 2023 £ 467 4,346 4,813 Total 2023 £ 15,894 1,186 1,780 2,729 8,369 9,066 39,024 |
Total 2022 £ - - |
|---|---|---|---|
| - | |||
| Total 2022 £ - - - - 58,203 - |
|||
| 58,203 | |||
| 2022 £ - 2022 - - - |
|||
| - |
No employee received emoluments in excess of £60,000.
Page 16
Voice OF Hope Radio Notes to the Accounts
10 Tangible fixed assets
| 10 Tangible fixed assets | ||||
|---|---|---|---|---|
| Cost or revaluation At 1 April 2022 At 31 March 2023 Depreciation and impairment At 1 April 2022 Depreciation charge for the year At 31 March 2023 Net book values At 31 March 2023 At 31 March 2022 11 Debtors Trade debtors 12 Creditors: amounts falling due within one year Trade creditors Other taxes and social security Other creditors Accruals 13 Movement in funds Restricted funds: Unrestricted funds: General funds Total funds |
At 1 April 2022 33,423 33,423 |
2023 £ 1,599 1,599 2023 £ 1,264 2,990 (4,109) (1) 144 Incoming resources (including other gains/losses ) £ 36,839 36,839 |
Fixtures & Fittings £ 16,305 16,305 8,117 2,729 10,846 5,459 8,188 Resources expended £ (43,837) (43,837) |
Total £ 16,305 |
| 16,305 | ||||
| 8,117 2,729 |
||||
| 10,846 | ||||
| 5,459 | ||||
| 8,188 | ||||
| 2022 £ 5,803 |
||||
| 5,803 | ||||
| 2022 £ 2,982 - - - |
||||
| 2,982 | ||||
| At 31 March 2023 £ 26,425 |
||||
| 26,425 |
Page 17
Voice OF Hope Radio Notes to the Accounts
14 Analysis of net assets between funds
| Fixed assets Net current assets Reconciliation of net debt Cash and cash equivalents Net debt |
At 1 April 2022 £ |
Unrestricted funds £ 5,459 20,966 26,425 Cash flows £ |
Total £ 5,459 20,966 |
|---|---|---|---|
| 26,425 | |||
| At 31 March 2023 £ |
|||
| 22,414 | (2,903) | 19,511 | |
| 22,414 22,414 |
(2,903) (2,903) |
19,511 | |
| 19,511 |
15 Reconciliation of net debt
16 Commitments
Operating lease commitments
Annual commitments under non-cancellable operating leases are as follows:
| 2023 | 2023 | 2022 | 2022 | |
|---|---|---|---|---|
| Land and buildings |
Other | Land and buildings |
Other | |
| £ | £ | £ | £ | |
| Operating leases with expiry date: | ||||
| Pension commitments | ||||
| 2023 | 2022 | |||
| £ | £ | |||
| The pension cost charge to the company | ||||
| amounted to: | 816 | - |
17 Related party disclosures
Controlling party
The company is limited by guarantee and has no share capital; thus no single party controls the company.
Page 18
Voice OF Hope Radio Detailed Statement of Financial Activities
for the year ended 31 March 2023
| Income and endowments from: Donations and legacies Other trading activities Total income and endowments Expenditure on: Costs of generating donations and legacies Total of expenditure on raising funds Employee costs Salaries/wages Employer's NIC Pension costs Motor and travel costs Business mileage costs reimbursed Premises costs Rent Premises repairs and maintenance General administrative costs, including depreciation and amortisation Depreciation of Fixtures & Fittings Bad debts Equipment expensed Equipment leasing and hire charges |
Unrestricted funds 2023 £ 26,737 26,737 10,102 10,102 36,839 467 4,346 4,813 4,813 13,708 1,370 816 15,894 1,186 1,186 1,400 380 1,780 2,729 1,560 15 63 |
Total funds 2023 £ 26,737 26,737 10,102 10,102 36,839 467 4,346 4,813 4,813 13,708 1,370 816 15,894 1,186 1,186 1,400 380 1,780 2,729 1,560 15 63 |
Total funds 2022 £ 42,610 |
|---|---|---|---|
| 42,610 | |||
| 12,132 | |||
| 12,132 | |||
| 54,742 - - |
|||
| - | |||
| - - - - |
|||
| - | |||
| - | |||
| - | |||
| - - |
|||
| - | |||
| - - - - |
Page 19
Voice OF Hope Radio
Detailed Statement of Financial Activities
| General insurances Software, IT support and related costs Stationery and printing Sundry expenses Telephone, fax and broadband Legal and professional costs Accountancy and bookkeeping Other legal and professional costs Total of expenditure of other costs Total expenditure Net gains on investments Net expenditure Net expenditure before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
237 3,151 224 292 2,827 11,098 1,730 7,336 9,066 39,024 43,837 - (6,998) (6,998) - (6,998) 33,423 26,425 |
237 3,151 224 292 2,827 11,098 1,730 7,336 9,066 39,024 43,837 - (6,998) (6,998) - (6,998) 33,423 26,425 |
- - - 58,203 - |
|---|---|---|---|
| 58,203 | |||
| - - |
|||
| - | |||
| 58,203 | |||
| 58,203 - |
|||
| (3,461) | |||
| (3,461) - |
|||
| (3,461) | |||
| 36,884 | |||
| 33,423 |
Page 20
Voice OF Hope Radio Audit Report Unqualified
Independent Auditor's Report to the Members of Voice OF Hope Radio
Opinion
We have audited the accounts of Voice OF Hope Radio (the 'charitable company') for the year ended 31 March 2023 which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account, the Balance Sheet, the Statement of Cash Flows and the Notes to the Accounts, 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, including FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the accounts:
-
give a true and fair view of the state of the charitable company's affairs as at 31 March 2023 and of its profit/loss 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 Auditor’s responsibilities for the audit of the accounts 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 accounts in the UK, including the FRC’s Ethical Standard, and the provisions available for small entities, in the circumstances set out below, 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 accounts, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the accounts 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 charity's ability to continue as a going concern for a period of at least twelve months from when the accounts are authorised for issue.
Our responsibilities and the responsbilities of the trustees with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the trustees' report and accounts, other than the accounts and our auditor’s report thereon. The trustees are responsible for the other information.
Our opinion on the accounts 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 accounts, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the accounts 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 there is a material misstatement in the accounts or a material misstatement of the other information. 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.
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Voice OF Hope Radio Audit Report Unqualified
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based upon the work undertaken in the course of the audit:
-
the information given in the Trustees' Report,which includes the Directors' Report prepared for the purposes of company law for the financial year for which the accounts are prepared is consistent with the accounts; and
-
the Directors' Report included within the Trustees' Report has been prepared in accordance with applicable legal requirements.
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 Directors' Report included within the Trustees' Report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
-
adequate and proper accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us;
-
the accounts are not in agreement with the accounting records and returns;
-
certain disclosures of Trustees' remuneration specified by law are not made;
-
we have not received all the information and explanations we require for our audit;
-
the trustees were not entitled to prepare the accounts in accordance with the small companies regime and take advantage of the small companies exemption in preparing the Directors' Report and take advantage of the small companies exemption from the requirement to prepare a Strategic Report.
Responsibilities of trustees
As explained more fully in the Trustees' Responsibilities Statement found in the Trustees' Report, the trustees (who are also the directors of the charitable company for the purpose of company law) are responsible for the preparation of the accounts 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 accounts that are free from material misstatement, whether due to fraud or error.
In preparing the accounts, 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 intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the accounts
Our objectives are to obtain reasonable assurance about whether the accounts as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report 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 accounts.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
A further description of our responsibilities for the audit of the accounts is located on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Page 5
Voice OF Hope Radio Audit Report Unqualified
Use of this report
This report is made solely to the 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 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 charity's members as a body, for our audit work, for this report, or for the opinions we have formed.
Carrianne Pope, Senior Statutory Auditor
For and on behalf of Pope Accountancy Services Ltd, Accountants and Statutory Auditors 13 Douglas Road Southbourne
Bournemouth Dorset BH6 3ER 31 March 2023
Pope Accountancy Services Ltd is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a charity under section 1212 of the Companies Act 2006.
Page 6