SPIRIT OF PLYMOUTH (RADIO) LIMITED Accounts for the period 1 January 2023 to 31 December 2023
Spirit of Plymouth (Radio) Limited TRUSTEES, ANNUAL REPORT COMPANY REGISTRATION NUMBER: 05933899 CHARITY REGISTRATION NUMBER: 1117215 DIRECTORS I TRUSTEES C Cole Mrs J Barlow SECRETARY S Simpson ACCOUNTANTS I INDEPENDENT EXAMINERS Tony Jopson & Co Limited Peverell Corner 246 Peverell Park Road Plyrnoulh PL3 4QG REGISTERED OFFICE 28 Old Park Road Peverell Plymouth PL3 4PY
Spirit of Plymouth (Radio) Limited TRUSTEES, ANNUAL REPORT The Iruslees of Spirit of Plymouth IRadiol Limited I'SOP") who also act as directors of SOP for the purposes of the Companies Act 2006. present thèir annual report and the financial slalemenls for the year ended 31 December 2023. The company was incorporated on 13 September 2006 as a company limited by guarantee and was registered with the Charity Commission as a registered charity number 1117215. OBJECTIVES OF SOP. PRINCIPAL ACTIVITIES AND ORGANISATION OF OUR WORK As staled in ils slalules, Imemoiandums and Articles of Associalionl SOP is established lo.. l. a(Jvance the Christian faith England and Wales.. 11. lo advance such other charitable purposes, particularly the relief of povety and sickness and the advancement of ecsucalion, as the Iruslees shall from lime lo litne determine. The piimary way SOP meet5 ils charitable object is in the running ol Cross Rhythms Plymouth community radio station. As can be seen from the overview and developments of the company during the past year. SOP fulfils ils objertives as outlined in its purpose and mission statements and Ils Articles of Association. Activities in the year and future developrnents The activities undertaken are to further the charity's purposes lor the Public Benefit The trustees confirm that they have given due consideration lo the Charity Commission'5 published guidance on the Put)lic Benefit under the Charilies Act 2011 The charity continues lo operate Cross Rhythms Plymouth community radio station, licenced by Ofcom, br02dcasling contemporary Christian music programmin9 24 hours a day. on and via inlernel streaming. The radio station exists lo further the charitable objects of Spirit of Plymouth Radio Limited to advance the Christian faith. In 2023 the radio slalion received a local C-DSP licence from Ofcom lo start broadcasling on DAB. This will commence from 2024. In 2023 the 'Sound and Vision, project, lo develop the social media oulpul of the radio station and produce increased video conlenl, continued. In the Summer of 2023, the slab'on manager and trustees identified SWlThn (South West Youth Mini51riesl as a potential organisation lo work with in relation lo having some of their slLJdenls work at the radio station as part of their pl?cemenUs. In Autumn of 2023 the rad10 slalion hacl taken on the first of these students and he undertook work primarily in relation lo the video and social media content related lo the 'Sound and Vision,
Spirit of Plymouth (Radio) Limited TRUSTEES, ANNUAL REPORT project He continues lo work with Ihe slalion on his placement on the basis of 16 hours per week. Business Improvement Specialist has continued to work with the radio slalion on an outsourced basis for 16 hours12 days) per week fulfilling the fundraising role Primarily he has raised funds through grant funding. This role Is lo continue being fulfillèd by Business Improvement Specialist into 2024. Through the work of the radio station's manager and the fundraiser support from Business Improvement Specialisl Ihe charity continued lo pursue a secure and sustainable income base, through grant funding, fundraising efforts and advertising income lo ensure it has the funds required lo fulfil 115 aims and objectives. The core volunteer team continue in their roles for the charity The station manager and fundraiser will be building income in the coming year. In 2023. in addition lo Cross Rhythms Plymouth radio slalion. the charity undertook the running of Lifeline5 Christian leslimony publication. This is a newspaper which is produced with the purpose ol sharing the Christian faith through leslimonial conlenl In 2023 one edition was launched around Easter and il was printed and distributed via Royal Mail to 55.000 homes in Easl Cornwall. The station manager will be developing the station outputs Irad10 programming), including delivering on the Sound and Vision project, in the coming year. Reserves Policy The company would like lo maintain ils reserve5 al suff1cient to cover 3 months. operating costs. However, current fund levels do not allow thi5 to be maintained. RISK MANAGEMENT The directors actively review the major risks that the organisalion faces on a regular basis They have examined the operational and business risk faced by the organisation and confirm that they have established systems lo mitigate significant risk5. STATEMENT OF DIRECTORS, RESPONSIBILITIES Law applicable to companies in England and Wales requires the Directors lo prepare financial slalemen15 for each financial year that give a true and fair view of the slate ol the financial activities of the company and ol ils financial position al the end of thal year. In preparing those financial stalemenls. the Directors are required lo.. select suitable accounting policies and then apply them consistently., make judgements and estimates that are reasonable and prudent.,
Spirit of Plymouth (Radio) Limited TRUSTEES, ANNUAL REPORT slate whether applicable accounting standards havè been followed, subject to any material departures disclosed and explained in the financial stalemenls., prepare the financial slalements on the going concern basis unless It is inappropriate lo presume that the company will continue in operation. The Directors. are responsible for keeping proper accounting records which disclose with reasonable accuracy al any lime the financial position of the company and which enable Ihern lo ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence lor taking reasonable steps for the prevention and detection ol fraud and other Irregularities. REPORTING ACCOUNTANTS I INDEPENDENT EXAMINERS A resolution lo re-appoint Tony Jopson & Co Limited as reporting accountants l independent Examiners12s appropriatel will be put lo the Annual General Meeting. This report has been prepared in accordance with the provisions applicable lo companies enlilled lo the small ¢ompanie5 exemption. By order of the Board Director l Trustee Dale.. 17/1 /iw
Spirit of Plymouth (Radio) Limited INDEPENDENT EXAMINER'S REPORT FQR THE YEAR ENDED 31 DECEMBER 2023, WHICH ARE SET OUT ON PAGES 5 TO 8 BELOW. Respective responsibilities of trustees and examiner The Gharily'5 Iru51ee5 are responsible for the preparation of the accounts They consider that an audit is not required for thi5 year lunder Section 144111 ol the Charities Act 2011 Ilhe 2011 Aclll and that an independent examination is needed. 1115 my responsibility lo.. examine the awounls (under section 14511 Ila) of the Act", lo follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 14515llbl of the Act". and lo stale whether particular matters have come lo my allenlion. Basis of Independent Examiner's Staternent My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with these records. 11 also includes consideration of any unusual items or disclosures in the accounts. and seeking explanations from the Iruslees concerning any such mallers The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the accounts Independent Examiner's Statement In connection with my examination, no maller has come lo my attention. which gives me reasonable cause lo believe that in any fnalerial respect the requirements.. lo keep accounting records in accordance with section 13D of the 2011 Act., and lo prepare accoull15 which accord with the 3ccounling records and comply with the accounting requirements of the 2011 Act have not been mel., or 121 lo which, in my opinion, allenlion should be drawn in order to enable a proper understanding of the accounts to be reached. A P Jopson. FCA Dale (Fellow of the Institute of Chartered Accounlanls in England & Wales) Tony Jopson & Co Ltd, Peverell Corner, 246 Peverell Paik Road, Plymouth, PL3 4QG
Spirit of Plymouth (Radio) Limited STATEMENT OF FINANCIAL ACTIVMES Incorporating Incom• & expendltur• account for th• y•ar •ndtd to 3108c8mb•r 2023 2022 INCOMING RESOURCES Gifts- Individuals Gifts- Businesses Gifts~ Chui¢he8 Gifts. fundraisers Gift Aid Recov8rable Grfts for radio via AITS Grants Radio Advertising Sales Lifelines advertisin9 Mi80ellaneous income 6,977 1.243 1,530 600 2,292 14,081 33,685 915 800 77 9,339 870 6,520 5,482 2,084 1,571 11,490 1.464 TOTAL INCOMING RESOURCES 62,201 38.820 RESOURCES EXPENDED Markeling I Sponsorship of Christ'an Conlenl Design services Matorials purchasèd RgrTrl Wages Swfm worktsr expenses Admin & management Rates & premlses exp8n8es Insurance Uti1th8S Licences Teiaphone & intemèt Prtnting & stationery Travel & subsistence Equipment I materials consumobles Rèpairs & Maintenance Support SèNi¢es CR Stoke Legal fees Gifts Commission on grants Fundraising costs SubseTlPtions Conferences & events Depreciation 10,147 50 1,035 6,843 8,431 1,159 1.(X)O 45 96 2,435 5,314 1,504 6,324 1.434 130 175 206 5,g75 8,402 337 253 1,424 5,007 1,405 211 92 404 24 5,294 13 700 1,195 4,835 41 S,925 13 1.443 9,091 300 332 3,855 1,570 1,426 TOTAL RESOURCES EXPENDED 66,614 39,078 NET MOVEMENT IN FUNDS 14,4131 12581 BALANCE BROUGHT FORWARD 11,437 11,69S BALANCE CARRIED FORWARD AS AT 31 DECEMBER 7.024 11,437
Spirit of Plymouth (Radio) Limited BALANCE SHEET Note 2023 2Q22 FIXED ASSETS Tangible fixed assets 7.709 8,878 CURRENT ASSETS Bank Account Debtors 5,013 1.385 13.616 1,493 6,398 15.109 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR. 17,0841 112,5621 NET CURRENT ASSETS I ILIABILITIES 16851 2.547 NET ASSETS I ILIABILITIES} 7.024 11.437 FUNDS ACCOUNT (all unrestricted) Balance al start of period 11,437 11,695 Nel Surplus IDeficill 14,4131 12581 NET FUNDS 7,024 11,437 The director5 are satisfied that the company is enlilled to exemption from the provision5 of the Companie5 Act 2006 Ilhe Acll relating lo the audit of the financial statements for the period by virtue of section 477, and that no member or members have requested an audit pursuant to section 476 of the Act. The directors acknowledge their responsibilities for.. lilensuring that the company keeps proper accounting records which comply with the Act, and liilpieparing financial statements which give a true and fair view of the slate of affairs of the company a5 al the end of the Iinancial period and of its profil or10s5 for the financial period in accordance with the requirements of the Act relating lo financial statements, so far as applicable to the company. These accounts h2ve been prepared in accordance with the financial provisions applicable to companies subje¢l lo the small companies regime and in accordance with FRS102 SORP Approved by the Board of Directors on ,/I/xF and signed on its behalf.
Spirit of Plymouth (Radio) Limited NOTES TO THE ACCQUNTS As at 31 December 2023 ACCOUNTING POLICIES Basis of preparation of accounts The accounts have been prepared in accordance with the Slalemenl of Recommended Practice 'Accounling and Reporting by Charities, preparing their accounts in accordance with the Financial Reporting S12ndard applicable In the UK and Republic ol Ireland IFRS 1021 issued on 16 July 2014 and with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 Incoming resources Income is included on an accruals basis, except when th¢ donois specify that they musl be used in ftjture accounting periods or donors conditions have not been fulfilled. then the income Is deferred Resources expended Resources expended are included in the Slalemenl of Financial Activities on an accruals basis. inclusive of any VAT, which cannot be recovered. Taxation Based on ils slalus as a comp3ny limited by guarantee and a charily, SOP" is effectively exempl from corporalion tax. Fixed assets and depreciation Depreciation is normally provided on all tangible fixed assets at iales calculated to write off the eosl ol tangible fixed assets over their useful lives. In this year il was decided lo apply depreciation at the rate of 33.3°/o on recent add11ions only as the base equipment Still has a significant resale value. TANGIBLE FIXED ASSETS Radio Equipment Total Cost al 1 January 2023 Additions Disposals 26,745 2,686 26,745 2,686 Al 31 December 2023 29,431 26,745 Accumulalod depreciation at 1 January 2023 Charge lor year 17,867 3,855 17.867 3.855 At 31 December 2023 21,722 21,722 Net Book Value5 Al 31 December 2023 7,709 7,709 At 31 December 2022 8,878 8,878
Spirit of Plymouth (Radio) Limited NOTES TO THE ACCOUNTS As at 31 December 2023 DEBTORS 2023 2022 Trade debtors VAT Gift aid 227 865 401 782 603 1,385 1,493 CREDITORS: Amounts falling due wlthln one year 2023 2022 Trade creditors Deferred income (grants received in advance) Loan from supporter 5,(100 5,000 379 1,705 2,102 5,460 7,084 12.562 TRANSACTIONS WITH DIRECTORS AND RELATED PARTIES Chrts Cole received £5892.54 in rent payments from the company for the use of the radio studio and adjoining room l office space. The value is lower than market rate so as lo assist the organisation and the agreement is rolling so as to provide a reliable Spa in which th8 company can operate without risk of eviction. This figure is rent at £475 pcm x 12 and £192.54 as an agreed payment towards property insuran(E. Dave Simpson Ison in law of one of the trustees Chris Cole) continues to be employed part lime by the ¢ompany. Remuneration was paid to Dave Simpson in the year lolalling £8.431. There were no other related party Iransaclions. CONTROLLING INTERESTS The company is limited by guar2nte& and each member's liability is limited to £1. The members. interests are as follows.. 2023 2022 Mr C Cole Mrs J Barfow