Company Registration No:'05377534
BRISTOL COMMUNITY FM LTD FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
Charity Number 1123827
Archie & Kingsley Associates
62 Wootton Road
St Annes Bristol BS4 4AL
BRISTOL COMMUNITY FM LTD
CONTENTS
FOR THE YEAR ENDED 31 MARCH 2024
| Legal and Administartive Information | 1 |
|---|---|
| Trustee's Annual Report | 2 - 3 |
| Independent Examiner's Report | 4 |
| Statement of financial Activities (including income & expenditure) |
5 |
| Balance Sheet | 6 - 7 |
| Notes to the financial statements | 8- 13 |
BRISTOL COMMUNITY FM LTD
LEGAL AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31 MARCH 2024
Bristol Community FM Ltd is a company limited by guarantee and governed by its Memorandum and Articles of Association since 28 February 2005 and received charitable status on 22 April 2008.
The Bristol Community FM Ltd is registered as a charity with the Charity Commission under registration number 05377534 and Companies House number 1123827.
Registered Office
Bristol Community FM Ltd Easton Community Centre Kilburn Street, Easton Bristol BS5 6AW
Board of Trustees
Philip Vickery Sherrie Eugene-Hart Myra Johnson Jeremy Cowhig MBE Rebecca Whitmore Kirsten Lass
Chair Secretary Treasurer
Bankers
Metro Bank 40-46 Broadmead Bristol BS1 3HB
Examiners
Archie & Kingsley Associates 62 Wootton Road St Annes Bristol BS4 4AL
1
BRISTOL COMMUNITY FM LTD TRUSTEES' ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024
The trustees are pleased to present their annual directors’ report, together with the financial statements of the charity, for the year ended 31st March 2024 which are also prepared to meet the requirements for a directors’ report for Companies Act purposes.
The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to small charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 01 January 2015).
The trustees are pleased that this past financial year has been positive from a broadcasting perspective with more presenters coming back into the studio and even more face to face training taking place for both existing volunteers and new ones.
Bristol Community FM continues to be the community station of choice for those looking to gain experience or a career in broadcasting. This has been due in part by the example set and calibre of our management team who work, produce and train at a high level for both BBC and other respected broadcast organisations.
A main aim of the team has been to create a more sustainable breakfast offer that features a regular presenter rather than different ones.
Broadcasting environment has continued to be challenging this year with more offers available to our listeners from both podcasts and other new stations arriving on air, however our podcast and on demand offer has improved and continues to do so in line with recognising the changing needs and trends of local listening habits..
The charity sustained itself financially over the 2023-2024 period with both commercial revenue and HLF project funding.
Outgoings were covered by donations and through revenue received from commercial advertisers and their agencies.
Reserves policy and risk management
There is currently no major risk factor in terms of operations. Expenditure on staff has always been dependant on grant funding. We are aware of the need to constantly fundraise and secure new service level agreements, however, we are self-sufficient and have no core funding, meaning not much scope to currently create any reserves.
2
BRISTOL COMMUNITY FM LTD TRUSTEES' ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024
Trustees’ responsibilities in relation to the financial statements
The trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
The trustees are required to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The financial statements are required by law to give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
-
Select suitable accounting policies and then apply them consistently;
-
Make judgments and estimates that are reasonable and prudent;
-
State whether applicable UK Accounting Standards have been followed, subject to any
-
Material departures disclosed and explained in the financial statements, and
-
Prepare the financial statements on the going concern basis unless it is inappropriate
-
To presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approval
This report was approved by the Trustees on ……...… 2024, and signed on its behalf.
Sherrie Eugene-Hart
Company Secretary
…………………………………………….. Date
Philip Vickery
Chairman
……………………………………………… Date
Bristol Community FM Ltd Easton Community Centre Kilburn Street, Easton Bristol BS5 6AW
3
BRISTOL COMMUNITY FM LTD
INDEPENDENT EXAMINER'S REPORT ON THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024
I report on the accounts of the Company for the year ended 31 March 2024, which are set out on pages 7 to 16, Charity no: 1123827.
Respective Responsibilities of Trustees and Examiner
The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England and Wales.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
-
Examine the accounts under section 145 of the 2011 Act,
-
To follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the Charities 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 general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, no opinion is given as to whether the accounts present a 'true and fair' view and the report is limited to those matters set out in the statement below.
Independent Examiner's Statement
(1) which gives me reasonable cause to believe that in any material respect the requirements:
- to keep accounting records in accordance with section 386 of the Companies Act 2006; and
• to prepare accounts which accord with the accounting records and comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities. Have not been met: or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Signed:……………………………………………… Date…………………………………………..
Peninah Achieng-Kindberg (CPFA) Archie & Kingsley Associate
62 Wootton Road St Annes Bristol BS4 4AL
4
BRISTOL COMMUNITY FM LTD CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (Including Income and Expenditure) FOR THE YEAR ENDED 31 MARCH 2024
| Incoming resources Income Resources from Donations and Grants Income Resources from Charitable Activities Income Resources from Other Trading Activities Total Incoming resources Resources Expended Cost of generating funds Charitable activities Other Cost Total resources expended Net incoming resources Total funds at 1st April 2023 Gross transfers between funds Other recognised gains or losses (adjustments for depreciation previous years) Total funds at 31st March 2024 |
Note | Unrestricted Funds Restricted Funds Total Funds Total Funds 2024 2023 £ £ £ £ |
|---|---|---|
| 2 3 4 6 7 13 |
500.00 30,410 30,910 144,225 - - - - 18,037 - 18,037 7,396 |
|
| 18,537 30,410 48,946 151,621 |
||
| - - 22,534 32,439 54,974 161,708 750.00 - 750.00 2,357 |
||
| 23,284 32,439 55,724 164,065 |
||
| (4,748) (2,030) (6,777) (12,444) |
||
| (1,219) 13,317 12,098 24,542 |
||
| - | ||
| (5,967) 11,288 5,321 12,098 |
All of the activities of the charity are classed as continuing The notes on pages 11 to 16 form part of these financial statements
7
BRISTOL COMMUNITY FM LTD
CHARITY BALANCE SHEET
FOR THE YEAR ENDED 31 MARCH 2024
| Fixed Assets Tangible Assets Current Assets Debtors Cash at bank and in hand Current Liabilities Creditors Amounts falling due within one year Deferred Income Net current assets Net assets Funds Restricted Funds Unrestricted Funds |
Note | Total Funds 2024 £ |
Total Funds 2023 £ |
|---|---|---|---|
| 10 11 15 12 13 13 |
977 977 - 5,094 5,094 750 750 4,344 5,321 11,788 (6,467) 5,321 |
1,466 | |
| 1,466 | |||
| - 11,856 |
|||
| 11,856 | |||
| 1,224 | |||
| 1,224 | |||
| 10,632 | |||
| 12,098 | |||
| 13,317 (1,219) |
|||
| 12,098 |
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 with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies’ regime and in accordance with FRS102 SORP.
These financial statements were approved by the trustees on ………………………………. and are signed on their behalf by:
..........................................................................
Philip Vickery
The notes on pages 11 to 16 form part of these financial statements
8
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
BRISTOL COMMUNITY FM LTD
1. Accounting Policies
(1.1) Basis of preparation of accounts
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.
Bristol Community FM Ltd meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
- (1.2) These financial statements consolidate the results of the Charity and its wholly owned trading arm on a line-by-line basis and balances between the two arms have been eliminated on consolidation.
(1.3) Income
All income is recognised once the charity has entitlement to that income, it is probably that the income will be received and the amount of income receivable can be measured reliably
Donations are recognised when the Charity has been notified in writing of both the amount and the settlement date.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
Income from grants, whether capital or revenue grants, is recognised when the charity has entitlement to the funds.
(1.4) Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity that expenditure, it is probable that the settlement will be required and the amount of the obligation can be measured reliably.
All expenditure is accounted for on an accrual’s basis. All expenses including support costs and governance costs are allocated or apportioned to the applicable expenditure headings.
(1.5) Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation.
Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Studio Equipment – 25% straight line
Office Equipment – 25% per annum
| Assets | Years |
|---|---|
| Studio Equipment | 4 |
| Office Equipment | 4 |
(1.6) Fund Accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.
10
BRISTOL COMMUNITY FM LTD
Financial statements FOR THE YEAR ENDED 31 MARCH 2024 Notes to the financial statements
2 Income resources from donations and grants
| Donations Grants Donations & Grants prior year Donations Grants 3 Income resources from charitable activities Service Contract 4 Income resources from other trading activities On air advertisement Chariatable activities prior year - All unrestricted Other trading activities prior year - All unrestricted |
Unrestricted Funds £ |
Restricted Funds Total Funds Total Funds 2024 2023 £ £ £ |
|---|---|---|
| 2,684 500 |
- 2,684 132 30,410 30,910 144,093 |
|
| 3,184 | 30,410 33,594 144,225 | |
| Unrestricted Funds £ |
Unrestricted Funds Restricted Funds Total Funds 2023 £ £ £ |
|
| 132 - 132 500 143,593 144,093 |
||
| 632 143,593 144,225 | ||
| Restricted Funds Total Funds Total Funds 2024 2023 £ £ £ |
||
| - - |
||
| - | - - - | |
| Unrestricted Funds £ |
Restricted Funds Total Funds Total Funds 2024 2023 £ £ £ |
|
| 14,853 | - 14,853 7,396 |
|
| 14,853 | - 14,853 7,396 | |
11
BRISTOL COMMUNITY FM LTD Financial statements FOR THE YEAR ENDED 31 MARCH 2024 Notes to the financial statements
5 Government Grants
The charitable company received government grants, defined as funding from Bristol City Council and the National Heritage Lottery Fund to fund charitable activities. The total value of such grants in the period ended 31 March 2024 was £30,910 (2023: £143,593). There are no unfulfilled conditions of continencies attaching to these grants in the current or prior years.
6 Resources Expended
| Equipment, hire and maintenance Volunteer expenses Subscriptions and licence fees Telephone Insurance Website & streaming Office costs Production cost Project cost Production cost Project cost Podcast Hosting Advertising -Outgoing- Restricted Online Teleconferencing Compliance Cost Room Hire Rent Sales commission Contract & Trainlng services Consumables ICT expenses Transport & Travel Bank Charges Depreciation |
Unrestricted Funds Restricted Funds Total Funds Total Funds Charitable Activities Governance Activities 2024 2023 £ £ £ £ |
|---|---|
| 1,391 - 1,391 900 6,452 - 6,452 4,579 4,984 - 4,984 8,859 435 - 435 - 1,119 - 1,119 987 53 - 53 288 - - - - - 31,939 31,939 64,643 - - - 70,000 173 - 173 - - 500 500 - 279 - 279 - 26 - 26 - 265 - 265 - 50 - 50 - 30 - 30 - 5,241 - 5,241 7,157 - - - 2,611 - - - - - - - 26 1,119 - 1,119 986 - - - 179 10 - 10 4 489 - 489 489 |
|
| 22,115 32,439 54,554 161,708 |
| Equipment, hire and maintenance Volunteer expenses Subscriptions and licence fees Telephone Insurance Website & streaming Office costs Production cost Project cost Rent Sales commission Contract & Trainlng services Consumables ICT expenses Transport & Travel Bank Charges Depreciation Charitable activities prior year |
Unrestricted Funds Restricted Funds Total Funds 2023 £ £ £ |
|
|---|---|---|
| 900 - 900 4,579 - 4,579 8,859 - 8,859 - - 0 987 - 987 288 - 288 - - 0 610 64,034 64,643 - 70,000 70,000 5,157 2,000 7,157 - 2,611 2,611 - - 0 26 - 26 986 - 986 179 - 179 4 - 4 489 - 489 |
||
| 23,064 138,644 161,708 |
12
BRISTOL COMMUNITY FM LTD
Financial statements FOR THE YEAR ENDED 31 MARCH 2024 Notes to the financial statements
7 Other Cost
| Independent examiner’s fee Accountancy fee Late filing fee |
Unrestricted Funds Restricted Funds Total Funds Total Funds 2024 2023 £ £ £ £ |
|---|---|
| 375 375 375 375 375 482 - - 1,500 |
|
| 750 - 750 2,357 |
Other cost prior year -All unrestricted
8 Operating Profit
| Operating profit This is stated after charging Depreciation Independent Examiners fee and other services |
Unrestricted Funds Restricted Funds Total Funds Total Funds 2024 2023 £ £ £ £ |
|---|---|
| 489 489 977 750 - 750 857 |
|
| 1,239 - 1,239 1,834 |
9 Taxation
The charity is exempt from corporation tax on its charitable activities
13
BRISTOL COMMUNITY FM LTD
Financial statements FOR THE YEAR ENDED 31 MARCH 2024 Notes to the financial statements
| 10 Tangible fixed assets Cost At 1 April 2023 Additions Disposals At 31 March 2024 Accumulated depreciation At 1 April 2023 Charge for the year At 31 March 2024 Net book value At 1 April 2023 At 31 March 2024 |
Property Improveme nts Studio Equipment Furniture & Fitting Total £ £ £ £ |
|---|---|
| - - 1,954 - 1,954 - - - - |
|
| - 1,954 - 1,954 |
|
| 489 489 489 489 |
|
| - 977 - 977 |
|
| - 1,466 - 1,466 | |
| - 977 - 977 |
11 Debtors
| Unrestricted | Restricted | ||
|---|---|---|---|
| Funds | Funds | Total Funds | Total Funds |
| 2024 | 2023 | ||
| £ | £ | £ | £ |
| - | |||
| - | - | ||
| - | - |
- - - -
12 Creditors
| Accruals | Unrestricted Funds Restricted Funds Total Funds Total Funds 2024 2023 £ £ £ £ |
|---|---|
| 750 750 1,224 |
|
| 750 - 750 1,224 |
14
BRISTOL COMMUNITY FM LTD
Financial statements FOR THE YEAR ENDED 31 MARCH 2024 Notes to the financial statements
13 Movement of Funds
| Restricted Funds Your Bristol Life Project Covid 19 Emergency Support Grant - Eastside community Reourcing Racial Justice City Funds Lp Funds Unrestricted Funds General funds Purpose of restricted funds |
Unrestricted Funds Restricted Funds Transfers/ Reserves Total Funds At 1.4.2023 Income Resources Outgoing Resources At 31.3.24 £ £ £ £ £ |
|---|---|
| (6,182) 30,410 (30,465) (6,237) 19,499 - 19,499 - 500 (500) - - - (1,475) (1,475) - - - 13,317 30,910 (32,439) - 11,788 - - - - (1,219) 18,037 (23,284) (6,467) - - |
|
| 12,098 48,946(55,724) - 5,321 | |
| National Heritage Lottery - Your Bristol Life Project Prism The Gift - Resourcing Racial Justice Project National Heritage Lottery - Covid 19 Emergency Support Bristol City Council - Quartet Community Foundation |
14 Analysis of Charitable Funds - prior year (as required by paragraph 4.2. of the SORP)
| Incoming resources Income Resources from Donations and Grants Income Resources from Charitable Activities Income Resources from Other Trading Activities Total Incoming resources Resources Expended Cost of generating funds Charitable activities Other Cost Total resources expended Net incoming resources Total funds at 31 March 2022 Gross transfers between funds Other recognised gains or losses (adjustments for depreciation previous years) Total funds at 30th March 2023 |
Note | Unrestricted Funds Restricted Funds Total Funds 2023 £ £ £ |
|---|---|---|
| 632 143,593 144,225 - - - 7,396 - 7,396 |
||
| 2 | ||
| 3 | ||
| 4 | ||
| 8,028 143,593 151,621 |
||
| - 23,064 138,644 161,708 2,357 - 2,357 |
||
| 6 | ||
| 7 | ||
| 25,420 138,644 164,065 |
||
| (17,392) 4,948 (12,444) 16,173 8,369.00 24,542 |
||
| 13 | (1,219) 13,317 12,098 |
|
15
BRISTOL COMMUNITY FM LTD Financial statements FOR THE YEAR ENDED 31 MARCH 2024 Notes to the financial statements
15 Analysis of net assets between funds
| Tangible fixed assets Cash at bank and at hand Net current assets Analysis of net assets between funds- Prior year Tangible fixed assets Cash at bank and at hand Net current assets |
Unrestricted Funds £ |
Restricted Funds 2024 2023 £ £ £ |
|---|---|---|
| 977 5,094 4,344 |
977 977 5,094 11,856 - 4,344 10,127 |
|
| 10,414 | - 10,414 22,961 | |
| Unrestricted Funds Restricted Funds Total Funds £ £ £ |
||
| 977.23 977 11,856 11,856 10,127 - 10,127 |
||
| 22,961 - 22,961 |
16 Related Party Transactions
The trustees have considered personal and other interests, in which as a result of a decision made, an individual may benefit financially or otherwise, either directly or indirectly. In order to comply with their duties, the trustees confirm the person affected does not take part in any discussions relating to the issue concerned other than to clarify facts.
During the year, the charity paid £12,370(2023: £16,087) to Pat Hart in respect of fees for administration of the Radio Station, work on behalf of restricted projects and reimbursement of expenses incurred during the year. Pat Hart is the partner of Sherri Eugene-Hart, a trustee of the charity.
Other than disclosed above, there have been no other related party transactions during the year (2023: £NiI)
17 Trustee Expenses & Reimbursement
The charity trustees were not paid or received any other benefits from employment with the charity in the year (2023: £Nil) No trustees were reimbursed expenses during the year (2023: £Nil). No charity trustee received payment for professional or other services supplied to the charity (2023: £nil).
18 Company limited by guarantee
The company is limited by guarantee and as such has no issued share capital. In the event of the company being wound up the liability of the members is limited to £1 each.
16