SPIRIT OF PLYMOUTH (RADIO) LIMITED Accounts for the period 1 January 2024 to 31 December 2024
Spirit of Plymouth (Radio) Limited TRUSTEES, ANNUAL REPORT COMPANY REGISTRATION NUMBER: 05933899 CHARITY REGISTRATION NUMBER: 1117215 DIRECTORS I TRUSTEES C Cole Mrs J Barlow T Mockford {appointed 18.12.24) D Palmer (appointed 18.12.241 SECRETARY S Simpson ACCOUNTANTS I INDEPENDENT EXAMINERS Tony Jopson & Co Limited Peverell Corner 246 Peverell Park Road Plymouth PL3 4QG REGISTERED OFFICE 28 Old Park Road Peverell Plymouth PL3 4PY
Spirit of Plymouth (Radio) Limited TRUSTEES, ANNUAL REPORT The trustees of Spirit of Plymouth (Radiol Limited { SOP") who also act as directors of SOP for the purposes of the Companies Act 2006, present their annual report and the financial statements for the year ended 31 December 2024. 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 stated in its statutes, (Memorandums and Articles of Association) SOP is established to.. advance the Christian faith England and Wales; to advance such other charitable purposes, particularly the relief of poverty and sicknes5 and the advancement of education, as the trustees shall from time to time determine. The primary way SOP meets its charitable object is in the running of Cross Rhythms Plymouth community radio station. As can be seen from the overview and developments of the company during the past year, SOP fulfils its objectives as outlined in its purpose and mission statements and its Article5 of Association. ACTIVITIES IN THE YEAR AND FUTURE DEVELOPMENTS The activities undertaken are to further the charity's purposes for the Public Benefit. The trustees confirm that they have given due consideration to the Charity Commission's published guidance on the Public Benefit under the Charities Act 2011. The charity continues to operate Cross Rhythms Plymouth community radio station, licenced by Ofcom, broadcasting contemporary Christian music programming 24 hours a day, on FM. on local DAB and via internel streaming. The radio station exists to further the charitable objects of Spirit of Plymouth Radio Limited to advance the Christian faith. In the Autumn of 2024 Cross Rhythms Plymouth broadcasting on local DAB commenced alongside our other broadcasting formats. The student from South West Youth Ministries (SWYM} continued his placement with us throughout 2024. He continues to work with the station on his placement on the basis of 16 hours per week. His primary role has been to continue to produce our video, online and social media content. Business Improvement Specialist has continued to work with the radio station on an outsourced basis for 16 hours (2 days) per week fulfilling the fundraising role. Primarily he has raised funds through grant funding. This role is to continue being fulfilled by Business I mprovement Specialist into 2025. Through the work of the radio station's manager and the fundraiser support from Business Improvement Specialist the charity continued to pursue a secure and sustainable income base,
Spirit of Plymouth (Radio) Limited TRUSTEES, ANNUAL REPORT through grant funding, fundraising efforts and advertising income to ensure it has the funds required to fulfil its 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. The charity continued to run the Lifelines Christian testimony publication in 2024, running it as a full page Space in the Plymouth Chronicle newspaper every other month from Autumn 2024 to reach the 92,000 home coverage of the paper rather than run it as a standalone publication. The Lifelines testimony featured in print is also recorded as a radio interview on Cross Rhythms Plymouth and the interview is recorded on video and posted to the Cross Rhythms Plymouth YouTube channel. All aspects are promoted through the printed testimony meaning it is an increasingly collaborative work beeen Cross Rhythms Plymouth and Lifelines. The charity received additional ring fenced funding in 2024 to continue its promotional content in the Plymouth Chronicle which is supplied at a partial pro bono rate. The Plymouth Chronicle had to charge more for this space than in prior years so the charity sought ring fenced funding from an external charitable trust to cover this cost. The station manager will be developing the slation outputs (radio programming) and sustainability of the work in the Coming year. RESERVES POLICY The company would like to maintain its reserves at sufficient to cover 3 months, operating costs. However, current fund levels do not allow this to be maintained. RISK MANAGEMENT The directors actively review the major risks that the organisation faces on a regular basis. They have examined the operational and business risk faced by the organisation and confirm that they have established systems to mitigate significant risks. STATEMENT OF DIRECTORS, RESPONSIBILITIES Law applicable to companies in England and Wales requires the Directors to prepare financial statements for each financial year that give a true and fair view of the state of the financial activities of the company and of its financial position at the end of that year. In preparing those financial statements, the Directors are required to.. select suitable accounting policies and then apply them consistently., make judgements and estimates that are reasonable and prudent., state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements.,
Spirit of Plymouth (Radio) Limited TRUSTEES, ANNUAL REPORT prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in operation. The Directors are responsible for keeping proper a¢counting records which disclose with reasonable accuracy at any time the financial position of the company and which enable them 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 for taking reasonable steps for the prevention and detection of fraud and other irregularities. REPORTING ACCOUNTANTS I INDEPENDENT EXAMINERS A resolution to re-appoint Tony Jopson & Co Limited as reporting accountants l independent Examiners las appropriatel will be put to the Annual General Meeting. This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption. By order of the Board Director l Trustee Name.. {BLOCK CAPITALS)....L .l.(.£. Yb./l,46-- Date..
Spirit of Plymouth (Radio) Limited INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2024, WHICH ARE SET OUT ON PAGES 6 TO 10 BELOW. Respective responsibilities of trustees and examiner The charity's trustees are responsible for the preparation of the accounts. They consider that an audit is not required for this year (under Section 144{1) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is needed. It is my responsibility to.. examine the accounts (under section 145{1)lal of the Act., to follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 14515)Ibl of the Act, and to state whether particular matters have come to my attention. Basis of Independent Examiner's Statement 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. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. 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 Examlner's Statement In connection with my examination, no matter has come to my att8ntion'. 11) which gives me reasonable cause to believe that in any material respect the requirements.. to keep accounting records in accordance with section 130 of the 2011 Act,, and to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met., or {2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the account5 to be reached. A P Jopson, FCA Date (Fellow of the Institute of Chartered AcGountants in England & Wales) Tony Jopson & Co Ltd, Peverell Corner, 246 Peverell Park Road. Plymouth, PL3 4QG
Spirit of Plymouth (Radio) Limited STATEMENT OF FINANCIAL ACTIVITIES Incorporating Income & expenditure account for the year ended to 31 December 2024 2023 INCOMING RESOURCES Gifts- Individuals Gifts - Businesses Gifts - Churches Gifts - fundraisers Gift Aid Recoverable Restricted funds from AITS Gifts for radio via AITS Grants Radio Advertising Sales Lifelines sponsorship Miscellaneous income 11,427 720 11.230 3,129 3,436 30,000 893 41,256 1,390 6,000 6,977 1,243 1,530 600 2,292 14,081 33,685 915 800 34 77 TOTAL INCOMING RESOURCES 109,515 62,201 RESOURCES EXPENDED Lifelines spend Mktg & sponsorship of Christian content Design services & website Materials purchased Rent Wages SVWM worker expenses Admin & management Rates & premises expenses Waste disposal Insurance Utilities Licences Telephone & internet Printing & stationery Travel & subsistence Equipment I materials consumables Repairs & Maintenance Support services CR Stoke Legal fees Gifts Commission on grants Fundraising costs Subscriptions Conferences & events Depreciation 6.000 30,114 64 2.206 6,667 9,824 8,736 10,147 50 1,035 6.843 8,431 1,159 1,000 45 44 190 125 2.131 8,640 1,230 74 96 2,435 5,314 1,505 6,324 1,434 1,000 642 6,753 34 41 5,g25 13 2,338 9,348 325 64 2,642 1,443 9,091 300 332 3,855 TOTAL RESOURCES EXPENDED 99,051 66,614 NET MOVEMENT IN FUNDS 10.463 (4,4131
Spirit of Plymouth (Radio) Limited BALANCE BROUGHT FORWARD 7,024 11,437 BALANCE CARRIED FORWARD AS AT 31 DECEMBER 17,487 7,024
Spirit of Plymouth (Radio) Limited BALANCE SHEET Note 2024 2023 FIXED ASSETS Tangible fixed assets 5,284 7,709 CURRENT ASSETS Bank Account Debtors 15,737 1,934 5,013 1,385 17,671 6,398 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR. (5,4681 17.0841 NET CURRENT ASSETS I (LIABILITIES) 12,203 (6851 NET ASSETS I ILIABILITIES) 17,487 7,024 FUNDS ACCOUNT (all unrestricted) Balance at start of period 7,024 11,437 Net Surplus (Deficit) 10,463 {4,413) NET FUNDS 17,487 7,024 The directors are satisfied that the company is entitled to exemption from the provisions of the Companies Act 2006 (the Act) relating to the audit of the financial statements for the period by virtue of section 477, and that no member or members have requested an audil pursuant to section 476 of the Act. The directors acknowledge their responsibilities for.. (ilensuring that the company keeps proper accounting records which comply with the Act, and lii)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial period and of its prof1t or loss for the financial period in accordance with the requirements of the Act relating to financial statements, so far as applicable to the company. These accounts have been prepared in accordance with the financial provisions applicable to companies subject to the small companies regime and in accordance with FRS102 SORP. Approved by the Board of Directors on q/i/is and signed on its behalf. Name of director signing (block capitals).
Spirit of Plymouth (Radio) Limited NOTES TO THE ACCOUNTS As at 31 December 2024 ACCOUNTING POLICIES Basis of preparation of accounts The accounts have been prepared in accordance with the Statement of Recommended Practice 'Accounting and Reporting by Charities, preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 issued on 16 July 2014 and with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) Incoming resources Income is included on an accruals basis, except when the donors specify that they must be used in future accounting periods or donors conditions have not been fulfilled, then the income is deferred. Resources expended Resources expended are included in the Statement of Financial Activities on an accruals basis, inclusive of any VAT, which cannot be recovered. Taxation Based on its status as a company limited by guarantee and a charity, "SOP" is effectively exempt from Cofporation tax. Fixed assets and depreciation Depreciation is normally provided on all tangible fixed assets at rates calculated to write off the cost of tangible fixed assets over their useful lives. In this year it was decided to apply depreciation at the rate of 33.3 % on recent additions only as the base equipment still has a sig nificant resale value. TANGIBLE FIXED ASSETS Equipn7ent & Furniture Total Cost at 1 January 2024 Additions Disposals 29,431 217 29,431 217 At 31 December 2024 29,648 29,648 Accumulated depreciation at 1 January 2024 Charge for year 21,722 2,642 21,722 2,642 At 31 December 2024 24,292 24,292 Net Book Values At 31 December 2024 5,139 5,139 At 31 December 2023 7,709 7,709
Spirit of Plymouth (Radio) Limited NOTES TO THE ACCOUNTS As at 31 December 2024 DEBTORS 2024 2023 Sundry debtor VAT Gift aid 553 178 1,202 782 603 1,934 1,385 CREDITORS: Amounts falling due within one year 2024 2023 Trade creditors Deferred income (grant5 received in advance) Loan from supporter 468 379 1,705 5,000 5,000 5,468 7,084 TRANSACTIONS WITH DIRECTORS AND RELATED PARTIES Dave Simpson {son in law of one of the trustees Chris Cole) continues to be employed part time by the company. Remuneration was paid to Dave Simpson in the year totalling £9,824. There were no other related party transactions. CONTROLLING INTERESTS The company is limited by guarantee and each member's liability is limited to £1. The members, interests are as follows.. 2024 2023 Mr C Cole Mrs J Barlow Mr T Mockford Mr D Palmer 10