2021-10-31-accounts

REGISTERED COMPANY NUMBER: 03642582 (England and Wales) REGISTERED CHARITY NUMBER: 1119865

Report of the Trustees and

Unaudited Financial Statements

for the Year Ended 31 October 2021

for

Drystone Radio Limited

Mr R M Watson MA; FCA Manby Castle Embsay Skipton North Yorkshire BD23 6PH

Drystone Radio Limited

Contents of the Financial Statements for the Year Ended 31 October 2021

		Page
Reference and Administrative Details		1
Report of the Trustees	2	to	5
Independent Examiner's Report		6
Statement of Financial Activities		7
Balance Sheet	8	to	9
Notes to the Financial Statements	10	to	17
Detailed Statement of Financial Activities	18	to	19

Drystone Radio Limited

Reference and Administrative Details for the Year Ended 31 October 2021

TRUSTEES	D C Adams FCA, CTA, FIMgt Chief Executive
	S C Brown (resigned 1.12.20)
	O Wilkinson (resigned 5.10.21)
	P Hitchcock
	J Proctor (resigned 25.4.21)
	J M T Rose (appointed 27.10.21)
	A Rankine (appointed 27.10.21)
COMPANY SECRETARY	Mrs C Adams
REGISTERED OFFICE	82 Keighley Road
	Cowling
	Keighley
	West Yorkshire
	BD22 0BA
REGISTERED COMPANY NUMBER	03642582 (England and Wales)
REGISTERED CHARITY NUMBER	1119865
INDEPENDENT EXAMINER	Mr R M Watson MA; FCA
	Manby Castle
	Embsay
	Skipton
	North Yorkshire
	BD23 6PH
BANKERS	Lloyds Bank Limited
	45 Hustlergate
	Bradford
	West Yorkshire
	BD1 1NT

Page 1

Drystone Radio Limited

Report of the Trustees

for the Year Ended 31 October 2021

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 October 2021. The trustees have adopted the provisions of 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 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The object of the charity is to advance the education and training of the public in particular, but not exclusively, persons who have a learning disability, in radio broadcasting and media skills techniques.

The strategies employed to achieve the charity's objectives are to: Train individuals of all ages in radio broadcasting;

Provide the Craven and Wharfedale areas with an independent voice which challenges, enriches, informs, stimulates and entertains by targeted broadcasting to the diverse strands of the whole community; Provide confidence and building experience through the provision of courses;

The charity's aims, objectives and activities are reviewed each year. This review looks at the activities undertaken in the previous year to ensure that benefits have been brought to those groups the charity was set up to help, the review also helps to ensure that our activities remain focused on our stated aims and objectives. We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning the charity's future activities. In particular the trustees consider how planned activities will contribute to the aims and objectives they have set.

Volunteers

The charity is grateful for the assistance of 39 volunteer workers during the year.

STRATEGIC REPORT

Achievement and performance

Charitable activities

During the year the charity continued to broadcast on the internet and on FM radio. All activities of the charity have been conducted in accordance with the concept of social gain and within the charter of the Community Media Association.

At the end of last year the charity obtained permission to increase its broadcasting area by substantially increasing the wattage of its transmitter and this year has been able to broadcast to a wider audience throughout the year.

The charity currently has 39 volunteers and has trained 4 individuals in broadcasting skills and employed or supported 5 individuals of a vulnerable nature throughout the year.

The charity has worked with many organizations during the year by promoting their objectives .

By undertaking these projects the charity has made significant beneficial differences to individual lives as well as enriching the lives of the local community with its radio broadcasts and thereby fulfilling its stated aims and objectives.

Fundraising activities

During the year the charity continued a general commercial strategy involving raising funds through donations,gift aid and grants as well as advertising and sale of services.

Page 2

Drystone Radio Limited

Report of the Trustees for the Year Ended 31 October 2021

STRATEGIC REPORT Financial review

Financial position

The total reserves of the charity amount to £17,159 in unrestricted reserves ( 2020 (£9,702) and restricted reserves of £2,211 (2020 £2,600).Free reserves amounted to a negative figure of ( £8,561 ( 2020 negative ( £9,539)).

Income from donations and gift aid has increased to £69,413 from £14,845 during the year and income from advertising and sale of services has increased to £8,028 from £1,066. Government support grants in respect of covid have however decreased from £10,000 to £2,400. Total income has therefore increased by £53930.

However total expenditure has also increased by £33,684 from £39,089 last year to £72,773 this year.This has mainly been due to an increase in wages costs of £8,884 as the station manager was employed for a full year compared to three months last year.In addition production costs have risen by £13,689 mainly due to additional presenters costs and there have been debts written off of £5,154. £4,529 of this relates to writing off the amount owed by the associated company South Craven Forward Limited as this will be wound up and has insufficient funds to meet its liabilities.

Overall there has been an increase in income over expenditure of £20,246 giving net income for the year of £7,068 compared to an excess of expenditure over income last year of £13,178

Principal funding sources

The principle sources of funding are donations ,gift aid,grants and advertising and sale of services.

Reserves policy

The trustees plan to establish a level of reserves (that is those funds that are freely available) over the following years which allow the charity to operate and meet its objectives

Going concern

The accounts have been prepared on a going concern basis as although the charity has net current liabilities of £8,561 any shortfall will be covered by the directors in the short term and it is the intention to build up the free reserves of the charity over the coming years.

The trustees have considered the position regarding going concern particularly in the light of Covid-19. Government grants and loans have been obtained to assist in the short term.The trustees have looked at forecasts and are satisfied that the charity has adequate resources to continue to operate for the foreseeable future.

The charity has increased its revenue since the year end and expenditure will not be authorised unless sufficient funds are in place.For these reasons and with the continued financial support of the trustees, it is felt appropriate to continue to adopt the going concern basis for preparing these financial statements.

Principal risks and uncertainties

The major risk identified is the financial sustainability of the charity. A key element in the management of financial risk is a regular review of available liquid funds to settle debts as they fall due, liaison with the bank and active management of debts due to the charity. This is managed by the treasurer and reviewed by the board of trustees.

Non financial risks arise from fire,health and safety of staff and visitors,the protection of vulnerable people,the management of performing rights and food hygiene. These risks are managed by ensuring accreditation is up to date, having robust policies and procedures in place and making staff aware of their responsibilities in these areas.

The covid 19 outbreak has also led to enhanced health and safety risks which the charity has taken steps to minimise.

External risks relate mainly to the general economic conditions which affect the level of income receivable especially with the downturn in the economy due to the covid 19 outbreak.

Financial and risk management objectives and policies

The trustees have a duty to identify and review the risks to which the charity is exposed and systems have been established to mitigate those risks. Internal risks are minimised by the implementation of procedures for authorisation of all transactions and projects and to ensure consistent quality of delivery for all operational aspects of the charitable company. These procedures are periodically reviewed to ensure that they still meet the needs of the charity.

Page 3

Drystone Radio Limited

Report of the Trustees for the Year Ended 31 October 2021

STRATEGIC REPORT

Future plans

Despite problems caused by the covid pandemic the charity is creating a relationship with the wider area.of Craven and Wharfedale.

The charity also intends to increase its training and outside broadcast activities in the enlarged area when conditions permit this to take place.

The charity is still awaiting the opportunity to introduce digital audio broadcasting.

Covid 19 is still likely to affect the financial position of the charity going forward but the trustees hope to minimise this by taking advantage of government support schemes,by increasing revenue especially now that they have extended the broadcast range to include Wharfedale and by carefully controlling expenditure.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of new trustees

To become a trustee of the charity you must deliver to the Company an application for membership, no person can become a trustee of the Company unless they are approved by the directors. There were 4 Director/Trustees at the year end The liability of each member in the event of winding up is limited to £1.

As set out in the Articles of Association there shall always be a minimum of three directors/trustees, there is no maximum number of directors or trustees. All trustees are directors of the charitable company. The charity is managed and overseen by the trustees.

Organisational structure

The Trustees and directors make decisions regarding all strategic matters and all expenditure. The charity has appointed a station manager who makes day to day operational decisions.

Induction and training of new trustees

The policy for inducting and training the trustees has been reviewed and a training plan produced

Key management remuneration

Remuneration of staff is governed by market rates.

Related parties

The only related parties are the trustees and company secretary . Details of related party transactions are contained in notes 6 and 16 to the accounts.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Drystone Radio Limited for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charity SORP;

• make judgements and estimates that are reasonable and prudent;

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

Page 4

Drystone Radio Limited

Report of the Trustees

for the Year Ended 31 October 2021

STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 9 March 2022 and signed on the board's behalf by:

D C Adams FCA, CTA, FIMgt - Trustee

Page 5

Independent Examiner's Report to the Trustees of Drystone Radio Limited

Independent examiner's report to the trustees of Drystone Radio Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 October 2021.

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 accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement

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

1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or

2. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or

3. the accounts 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 accounts to be reached.

MR R M Watson MA, FCA. Mr R M Watson MA; FCA Manby Castle Embsay Skipton North Yorkshire BD23 6PH

9 March 2022

Page 6

Drystone Radio Limited

Statement of Financial Activities

(Incorporating an Income and Expenditure Account) for the Year Ended 31 October 2021

				31.10.21	31.10.20
		Unrestricted	Restricted	Total	Total
		funds	funds	funds	funds
	Notes	£	£	£	£
INCOME AND ENDOWMENTS FROM
Donations and legacies	2	69,413	-	69,413	14,845
Charitable activities	4
Radio Station		2,400	-	2,400	10,000
Other trading activities	3	8,028	-	8,028	1,066
Total		79,841	-	79,841	25,911
EXPENDITURE ON
Raising funds		53,783	-	53,783	27,308
Charitable activities
Radio Station		13,447	389	13,836	11,781
Other		5,154	-	5,154	-
Total		72,384	389	72,773	39,089
NET INCOME/(EXPENDITURE)		7,457	(389)	7,068	(13,178)
RECONCILIATION OF FUNDS
Total funds brought forward		9,702	2,600	12,302	25,480
TOTAL FUNDS CARRIED FORWARD		17,159	2,211	19,370	12,302

CONTINUING OPERATIONS

All income and expenditure has arisen from continuing activities.

The notes form part of these financial statements

Page 7

Drystone Radio Limited

Balance Sheet 31 October 2021

				31.10.21	31.10.20
		Unrestricted	Restricted	Total	Total
		funds	funds	funds	funds
	Notes	£	£	£	£
FIXED ASSETS
Tangible assets	9	31,720	2,211	33,931	29,841
CURRENT ASSETS
Debtors	10	3,003	-	3,003	6,311
Cash at bank and in hand		5	-	5	306
		3,008	-	3,008	6,617
CREDITORS
Amounts falling due within one year	11	(11,569)	-	(11,569)	(16,156)
NET CURRENT ASSETS		(8,561)	-	(8,561)	(9,539)
TOTAL ASSETS LESS CURRENT LIABILITIES		23,159	2,211	25,370	20,302
CREDITORS
Amounts falling due after more than one year	12	(6,000)	-	(6,000)	(8,000)
NET ASSETS		17,159	2,211	19,370	12,302
FUNDS	15
Unrestricted funds				17,159	9,702
Restricted funds				2,211	2,600
TOTAL FUNDS				19,370	12,302

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2021 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

• (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

• (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

The notes form part of these financial statements

Page 8

continued...

Drystone Radio Limited

Balance Sheet - continued 31 October 2021

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 9 March 2022 and were signed on its behalf by:

D C Adams FCA, CTA, FIMgt - Trustee

The notes form part of these financial statements

Page 9

Drystone Radio Limited

Notes to the Financial Statements for the Year Ended 31 October 2021

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.. The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Leasehold property alterations	-	15% on reducing balance
Plant and machinery	-	15% on reducing balance
Fixtures and fittings	-	15% on reducing balance

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.The four restricted funds relate to grants received in respect of capital items which are being written off in line with depreciation on those items.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Financial Instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Going Concern

The trustees have considered the position regarding going concern particularly in the light of Covid-19. Government grants and loans have been obtained to assist in the short term.The trustees have looked at forecasts and are satisfied that the charity has adequate resources to continue to operate for the foreseeable future.

The charity has increased its revenue since the year end and expenditure will not be authorised unless sufficient funds are in place.For these reasons and with the continued financial support of the trustees, it is felt appropriate to continue to adopt the going concern basis for preparing these financial statements.

Grants

Page 10

continued...

Drystone Radio Limited

Notes to the Financial Statements - continued for the Year Ended 31 October 2021

1.

ACCOUNTING POLICIES - continued

Government grants and third party contributions and donations are recognised as due to the charity when there is reasonable assurance that the charity will comply with any conditions attached to the payments and that the grants or contributions will be received.

Grants recognised as income are presented separately in the notes to the accounts.

2. DONATIONS AND LEGACIES

DONATIONS AND LEGACIES
	31.10.21	31.10.20
	£	£
Donations	57,406	10,479
Gift aid	12,007	3,503
Grants	-	863
	69,413	14,845

A grant for £1000 was received from Groundworks UK Ltd. during 2019 of which only £137 was spent during that year.The remaining £863 was treated as deferred income at that year end..During the year to 31st October 2020 the remaining grant of £863 was released and all spent during that year.

3.

4.

OTHER TRADING ACTIVITIES

OTHER TRADING ACTIVITIES
		31.10.21	31.10.20
		£	£
Advertising & sale of service		8,028	1,066
INCOME FROM CHARITABLE	ACTIVITIES
		31.10.21	31.10.20
	Activity	£	£
Grants	Radio Station	2,400	10,000

A grant of £2400 was received during the year from Craven District Council to assist with funding during the coronavirus pandemic

A government grant of £10,000 was received during the previous year to provide funds to assist the charity during the Covid 19 pandemic.

The grants are unconditional and have all been recognised as income in the financial statements for the relevant years.

5. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

	31.10.21	31.10.20
	£	£
Depreciation - owned assets	5,987	5,266

Page 11

continued...

Drystone Radio Limited

Notes to the Financial Statements - continued for the Year Ended 31 October 2021

6. TRUSTEES' REMUNERATION AND BENEFITS

The following three trustees received remuneration from the company for services provided to the company: J Proctor and P Hitchcock for work performed as self employed radio presenters O Wilkinson for services provided for technical support

The aggregate amount received during the period they were trustees during the year was £7344.

For the year ended 31st October 2020 one trustee, J Proctor received remuneration from the company for work performed as self employed radio presenter.

The aggregate amount received during the period he was a trustees during that year was £1764.

The legal authority for such payments are contained in Article 6.2.1 of the Memorandum of Association of the company which states that payment is allowed "of a reasonable and proper remuneration to any trustee,officer or servant of the company for any services rendered to the company".

Trustees' expenses

Trustees expenses of £700 in total were paid to three trustees for travel expenses during the period they were trustees in the year ended 31st October 2021 (2020 1 trustee £1810). .

7.

STAFF COSTS

STAFF COSTS
	31.10.21	31.10.20
	£	£
Wages and salaries	13,306	4,422
Other pension costs	390	107
	13,696	4,529
The average monthly number of employees during the year was as follows:
	31.10.21	31.10.20
Station Manager	1	1

No employees received emoluments in excess of £60,000.

8.

COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted Restricted funds funds £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 13,982 863 Charitable activities Radio Station 10,000 - Other trading activities 1,066 - Total 25,048 863 EXPENDITURE ON Raising funds 27,308 - Charitable activities Radio Station 11,323 458	Total funds £ 14,845 10,000 1,066
	25,911 27,308 11,781

Page 12

continued...

Drystone Radio Limited

Notes to the Financial Statements - continued for the Year Ended 31 October 2021

8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued

			Unrestricted	Restricted	Total
			funds	funds	funds
			£	£	£
	Total		38,631	458	39,089
	NET INCOME/(EXPENDITURE)		(13,583)	405	(13,178)
	RECONCILIATION OF FUNDS
	Total funds brought forward		23,285	2,195	25,480
	TOTAL FUNDS CARRIED FORWARD		9,702	2,600	12,302
9.	TANGIBLE FIXED ASSETS
		Leasehold		Fixtures
		property	Plant and	and
		alterations	machinery	fittings	Totals
		£	£	£	£
	COST
	At 1 November 2020	2,030	70,798	6,173	79,001
	Additions	-	10,077	-	10,077
	At 31 October 2021	2,030	80,875	6,173	89,078
	DEPRECIATION
	At 1 November 2020	784	43,936	4,440	49,160
	Charge for year	187	5,540	260	5,987
	At 31 October 2021	971	49,476	4,700	55,147
	NET BOOK VALUE
	At 31 October 2021	1,059	31,399	1,473	33,931
	At 31 October 2020	1,246	26,862	1,733	29,841
10.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
				31.10.21	31.10.20
				£	£
	Trade debtors			1,260	-
	Other debtors			1	4,531
	PAYE refund			215	126
	VAT			179	331
	Prepayments			1,348	1,323
				3,003	6,311

Page 13

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Drystone Radio Limited

Notes to the Financial Statements - continued for the Year Ended 31 October 2021

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

12.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
	31.10.21	31.10.20
	£	£
Bank loans and overdrafts (see note 13)	1,600	-
Trade creditors	1,860	3,451
Social security and other taxes	-	48
Other creditors	393	875
Director's Loan account	2,352	4,430
Bank Overdraft	1,601	1,913
Accruals and deferred income	3,763	5,439
	11,569	16,156
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
	31.10.21	31.10.20
	£	£
Bank loans (see note 13)	6,000	8,000

Bank loans (see note 13)

13. LOANS

A government backed bounce back loan was received from Lloyds Bank for £8,000 in July of the year ended 31st October 2020 to assist with financing due to difficulties caused by the Covid 19 pandemic.No repayments were required during the first year and the government paid the interest during that year.After that interest is fixed at 2.5% . Repayments commenced in August 2021 consisting of capital and interest repayments.

The loan is repayable at the end of the sixth year although early repayment is permitted.

14. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

	31.10.21	31.10.20
	£	£
Within one year	4,500	4,125
Between one and five years	18,000	-
	22,500	4,125

Payments recognised as an expense during the year amounted to £7,125 (2020 £4,500).

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Drystone Radio Limited

Notes to the Financial Statements - continued for the Year Ended 31 October 2021

15. MOVEMENT IN FUNDS

MOVEMENT IN FUNDS
		Net
	At	movement	At
	1.11.20	in funds	31.10.21
	£	£	£
Unrestricted funds
General fund	9,702	7,457	17,159
Restricted funds
Local Network Fund	354	(53)	301
Skipton Mechanics Institute	37	(5)	32
Big Lottery	1,376	(206)	1,170
Groundworks UK	833	(125)	708
	2,600	(389)	2,211
TOTAL FUNDS	12,302	7,068	19,370
Net movement in funds, included in the above are as follows:
	Incoming	Resources	Movement
	resources	expended	in funds
	£	£	£
Unrestricted funds
General fund	79,841	(72,384)	7,457
Restricted funds
Local Network Fund	-	(53)	(53)
Skipton Mechanics Institute	-	(5)	(5)
Big Lottery	-	(206)	(206)
Groundworks UK	-	(125)	(125)
	-	(389)	(389)
TOTAL FUNDS	79,841	(72,773)	7,068
Comparatives for movement in funds
		Net
	At	movement	At
	1.11.19	in funds	31.10.20
	£	£	£
Unrestricted funds
General fund	23,285	(13,583)	9,702
Restricted funds
Local Network Fund	417	(63)	354
Skipton Mechanics Institute	43	(6)	37
Big Lottery	1,619	(243)	1,376
Groundworks UK	116	717	833
	2,195	405	2,600
TOTAL FUNDS	25,480	(13,178)	12,302

Page 15

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Drystone Radio Limited

Notes to the Financial Statements - continued for the Year Ended 31 October 2021

15. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

	Incoming	Resources	Movement
	resources	expended	in funds
	£	£	£
Unrestricted funds
General fund	25,048	(38,631)	(13,583)
Restricted funds
Local Network Fund	-	(63)	(63)
Skipton Mechanics Institute	-	(6)	(6)
Big Lottery	-	(243)	(243)
Groundworks UK	863	(146)	717
	863	(458)	405
TOTAL FUNDS	25,911	(39,089)	(13,178)

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds General fund Restricted funds Local Network Fund Skipton Mechanics Institute Big Lottery Groundworks UK TOTAL FUNDS	Net At movement At 1.11.19 in funds 31.10.21 £ £ £ 23,285 (6,126) 17,159 417 (116) 301 43 (11) 32 1,619 (449) 1,170 116 592 708 2,195 16 2,211 25,480 (6,110) 19,370	Net At movement At 1.11.19 in funds 31.10.21 £ £ £ 23,285 (6,126) 17,159 417 (116) 301 43 (11) 32 1,619 (449) 1,170 116 592 708 2,195 16 2,211 25,480 (6,110) 19,370
		2,211
		19,370

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

	Incoming	Resources	Movement
	resources	expended	in funds
	£	£	£
Unrestricted funds
General fund	104,889	(111,015)	(6,126)
Restricted funds
Local Network Fund	-	(116)	(116)
Skipton Mechanics Institute	-	(11)	(11)
Big Lottery	-	(449)	(449)
Groundworks UK	863	(271)	592
	863	(847)	16
TOTAL FUNDS	105,752	(111,862)	(6,110)

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continued...

Drystone Radio Limited

Notes to the Financial Statements - continued for the Year Ended 31 October 2021

16. RELATED PARTY DISCLOSURES

D.C.Adams ( Director and trustee of the charity)

During the year donations of £51,960 (2020 £9,826) were received from D.C.Adams.

Rent of £7,125 (2020 £4,500) was charged by Cragside Pension Scheme , a scheme set up for the benefit of D.C.Adams. Lindley Adams Limited , a company of which D.C.Adams is a director charged Drystone Radio Limited £2,025 (2020 £2,060) for accountancy and related services.

At the end of the year the Company owed D.C.Adams £2,352 (2020 £4,430).

At the end of the previous year the Company was owed £4531 by South Craven Forward Limited ,a company of which Mr. D.C.Adams is a director.During the current year £4529 of this amount was written off as being irrecoverable as the company is to be wound up and has insufficient funds to meet its liabilities.

All related party transactions are unsecured.

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Drystone Radio Limited

Detailed Statement of Financial Activities for the Year Ended 31 October 2021

	31.10.21	31.10.20
	£	£
INCOME AND ENDOWMENTS
Donations and legacies
Donations	57,406	10,479
Gift aid	12,007	3,503
Grants	-	863
	69,413	14,845
Other trading activities
Advertising & sale of service	8,028	1,066
Charitable activities
Grants	2,400	10,000
Total incoming resources	79,841	25,911
EXPENDITURE
Other trading activities
Wages	13,306	4,422
Pensions	390	107
Licensing	404	218
Volunteer expenses	4,980	3,674
Rent, rates & water	8,381	4,819
Insurance	1,498	1,831
Light & heat	1,576	2,128
Production costs	23,248	9,559
Consultancy fees	-	550
	53,783	27,308
Charitable activities
Telephone	3,814	2,879
Subscriptions	199	156
Sundries	79	33
Repairs	162	307
Marketing	612	-
Postage and stationery	-	572
Leasehold property alterations	187	220
Plant and machinery	5,541	4,741
Fixtures and fittings	260	305
	10,854	9,213
Other
Bad debts	5,154	-
Support costs

This page does not form part of the statutory financial statements

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Drystone Radio Limited

Detailed Statement of Financial Activities

for the Year Ended 31 October 2021

	31.10.21	31.10.20
	£	£
Support costs
Management
Bank interest	112	-
Finance
Bank charges	724	406
Credit charges	74	27
Bank Interest	-	75
Loan interest	47	-
	845	508
Governance costs
Accountancy fees	1,165	1,260
Independent examination	860	800
	2,025	2,060
Total resources expended	72,773	39,089
Net income/(expenditure)	7,068	(13,178)

This page does not form part of the statutory financial statements

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