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2020-12-31-accounts

CHILDREN’S RADIO FOUNDATION

CHILDREN’S RADIO FOUNDATION UK LIMITED

TRUSTEES’ ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

Charity No: 1127219 Company Registration No: 06642273

CHILDREN’S RADIO FOUNDATION UK LIMITED

CONTENTS PAGE
General information 2
Trustees’ Annual Report 3-6
Independent Examiner’s report tothe members 7
Statement of Financial Activities 8
Balance Sheet 9
Notestothefinancialstatements 10-14

all

CHILDREN’S RADIO FOUNDATION UK LIMITED

GENERAL INFORMATION

Registered charity name

Registered Charity number

Registered Company number (England and Wales)

Registered office address

Trustees and Directors

The Children’s Radio Foundation UK Limited

1127219

06642273

One Bartholomew Close London EC1A 7BL

E Mortimer G Adigun L Barnett

N Bowers (resigned on 2 December 2020) B Ormerod E Parr (appointed on 29 June 2020)

Company secretary

Independent examiner

Bankers

Broadway Secretaries Ltd One Bartholomew Close London EC1A 7BL

John Dovey FCCA Dovey Accountancy Services Limited Heyford Park House Heyford Park Upper Heyford Bicester OX25 5HD

C. Hoare & Co

37 Fleet Street London EC4P 4DQ

Solicitors

BDB Pitmans LLP One Bartholomew Close London EC1A 7BL

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CHILDREN’S RADIO FOUNDATION UK LIMITED

TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT) FOR THE YEAR ENDED 31 DECEMBER 2020 eee The Trustees present their report together with the unaudited financial statements of the Charity for the year ended 31 December 2020. The financial statements of the Charity, which is a public benefit entity under FRS102, have been prepared in accordance with the Charities SORP ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (as amended for accounting periods commencing from 1 January 2016)’, Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Companies Act 2006.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Charity was incorporated on 9 July 2008. The Charity is constituted by way of a company limited by shares. It is governed by its Memorandum and Articles of Association which include clauses prohibiting the distribution of profits and or gains to any shareholder. It was registered as a charity with the Charity Commission on 17 December 2008.

Appointment of Trustees

The Trustees are appointed by Ordinary Resolution or a simple majority of Trustees entitled to attend and vote at any meeting of the Trustees. The minimum number of Trustees is two and maximum is nine.

Trustees Induction and Training

All new Trustees are given, in the view of the Board, sufficient training and have enough knowledge of their specific field to understand the nature of the Charity and fully comply with the Charity’s views of its mission. Before taking on the role they meet key advisors and other Trustees.

Organisational Structure

The Trustees comprise the key management personnel of the Charity in charge of directing and controlling, running and operating the Charity on a day to day basis. The Board meets regularly to conduct the business of the Charity and supported by BDB Pitmans LLP secretariat services to run the legal, governance and financial needs of the organisation.

OBJECTIVES AND ACTIVITIES

The aim of the Charity is to contribute to CRF South Africa. We do this by applying for grants, received donations and fundraising at the occasional function.

The objective of the CRF UK and CRF South Africa is to advance the education of children and young people and in particular children who are socially and economically disadvantaged or whose lives have been impacted or affected by poverty, illness or civil conflict, by the production and broadcasting of educational radio programming and quality content.

The Charity through CRF South Africa gives young people the tools and skills to make their voices heard. The Charity contributes to over 70 youth radio projects across five African countries. The Charity works with radio stations and other organisations to create opportunities for youth dialogue, leadership, social engagement and action.

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CHILDREN’S RADIO FOUNDATION UK LIMITED TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020 a We are about to achieve a long held ambition to monitor, evaluate and learn from data in such a way as to make increasingly strategic and efficient targeting of funds which will hopefully in turn attract repeat funding from existing donors and attract new donors confident that we have quantitative and qualitative data to validate our work. The trustees will be expecting quantitative data analysis to inform our board, supporters, advocates and donors with a view to attracting more contributions. The project will be part funded by CRF UK Nick Bowers and run in collaboration with UK-based consultancy On Our Radar.

We also applied for a £50,000 grant with DFID-funded initiative “Small Charities Challenge Funds”.

We usually try to host one fundraising event a year but this has not be possible this year because of COVID-19. Instead we decided to host a webinar to introduce how our reporters successfully adapted to remote training and reporting.

ACHIEVEMENTS AND PERFORMANCE

Donations of £60,846 (2019: £61,290) have been received (including gift aid), grants made from the charity were £75,216 available to CRF South Africa in support of 2020 projects (2019: £216). In particular £20,000 for adolescent mental health in South Africa and £35,000 for COVID-19 awareness campaign across Africa in the year.

At the end of the 2019 the Trustees set a fund raising target of £123,000 for 2020 financial year. The trustees raised a total of £97,554 (£59,304 in 2020 and £38,250 at the end of 2019).

Fundraising

Section 162A ofthe Charities Act 2011 requires charities to make certain statements in their annual report in relation to their fundraising activities. The Charity undertook fund-raising activities for the purpose of that section in the period and, accordingly, the Trustees confirm that:

FINANCIAL REVIEW

The Charity is enormously grateful to continue to receive funds from the AlexanderJ Dalejt Foundation UK Ltd, Arimathea Charitable Trust, Kathleen Hannay Memorial Charity , Southampton Row Trust — USA and Nick Bowers among others.

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CHILDREN’S RADIO FOUNDATION UK LIMITED

TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2020

Plans for the future

The Trustees are delighted with the support they have received from donors and are looking to build on increasing its donations in 2021.

Public benefit Statement

The Trustees are aware of the Charity Commission’s guidance on public benefit. They Charity’s aims are farreaching and for the public benefit. By making grants to CRF South Africa which advance purposes falling within the Charity’s aims, the Trustees are confident that their public benefit duty is fulfilled. Finally, the Trustees are satisfied that there is no detriment, harm or undue private benefit that arises from carrying out the Charity’s aims.

Reserves Policy

The Trustees have established a Reserves Policy with reference to Charity Commission guidance (CC19) and accounting standards (FRS102). The Trustees aspire to keep a reserve of approximately £7,500. Subject to this, the Trustees aim to apply all income to direct charitable purposes. As at 31 December there were reserves of £51,791 (2019: £85,167), to be used for charitable purposes in future. As at 31 December 2020, there were restricted funds held of £35,503 (2019: £57,753).

Going Concern

The Trustees have prepared the financial statements on a going concern basis. However, before reaching their decision to do so, careful consideration has been given to the possible implications of COVID-19.

The main consideration was the implications the pandemic would have on the level of income as the Charity relies on sufficient funds to meet its liabilities as and when they fall due. As a result of the discussions the Trustees are satisfied that it is appropriate to prepare statements on a going concern basis.

Risk Management

The Trustees review and discuss, if required, at meetings any risks to which the Charity may be exposed. Where appropriate, systems or appropriate controls are in place to mitigate the risks the Charity may face. In particular, the Trustees do not enter into commitments in excess of their available cash resources and as a result they operate in a very low risk environment. Any drop in income received will be matched by an appropriate reduction in expenditure.

EXEMPTIONS FROM DISCLOSURE

There are no exemptions.

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CHILDREN’S RADIO FOUNDATION UK LIMITED

TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2020

ee

TRUSTEE RESPONSIBILITIES

The trustees, who are also the directors of the Children’s Radio Foundation UK Limited for the purposes of company law, are responsible for preparing the Trustees’ Report 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 Charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for the year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records with reasonable accuracy at at 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.

Signed on behalf of the trustees

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E Parr
Trustee
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Date 20: Oo: 2D
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CHILDREN’S RADIO FOUNDATION UK LIMITED

INDEPENDENT EXAMINER’S REPORT TO THE MEMBERS OF THE CHILDREN’S RADIO FOUNDATION

UK LIMITED

FOR THE YEAR ENDED 31 DECEMBER 2020

iee | report on the accounts of the Charity for the year ended 31 December 2020, which are set out in pages 8 - 14.

RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER

The trustees (who are also the directors of the Children’s Radio Foundation UK Limited 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 Having satisfied myself that the company is not subject to audit under Part 16 of the Companies Act 2006 and is eligible for independent examination it is my responsibility to:

BASIS OF INDEPENDENT EXAMINER’S REPORT

My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the company and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and the seeking of 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 expressed 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

(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

John Dovey FCCA Dovey Accountancy Services Limited INDEPENDENT EXAMINER Heyford Park House Heyford Park ae ae ——— er Upper Heyford Daten. ier. ZO. I... Bicester OX25 5HD

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CHILDREN’S RADIO FOUNDATION UK LIMITED

BALANCE SHEET

FOR THE YEAR ENDED 31 DECEMBER 2020

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||||||| |---|---|---|---|---|---| |eetn| |2020|2019| |£|£|£|£| |Notes| |CURRENT|ASSETS| |Debtors|6|ad|6,276| |Cash|at|bank|53,890|82,581| |53,891|88,857| |CREDITORS: Amounts|falling due within|7|(2,100)|(3,690)| |one|year| |NET CURRENT ASSETS|51,791|85,167| |FUNDS| |INCOME|FUNDS| |Share|capital|9|1|1| |Unrestricted|Income|funds|10|16,288|27,413| |Restricted|Income|funds|11|35,502|57,753| |TOTAL INCOME|FUNDS|51,791|85,167|

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The notes on pages 10 to 14 form part of these financial statements.

For the year ended 31 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Trustees responsibilities:

These financial statements were approved by the Trustees on wn QL. a8.J...and are signed on their behalf by: Elf

Emmanuelle Parr

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' CHILDREN’S RADIO FOUNDATION UK LIMITED

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020 aee ee

1. ACCOUNTING POLICIES

1.1 Accounting convention

The financial statements have been prepared in accordance with the Companies Act 2006 and “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 (FRS102)” (as amended for accounting periods commencing from 1 January 2016). The Charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are round to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going Concern

At the time of approving the financial statements, the trustees have reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Following the disruptions caused by the COVID-19 pandemic in the year, which has resulted in economic uncertainty; the level of income received by the Charity may reduce. The Trustees have considered short term uncertainty will impact the level of income received and feel it is appropriate continue to adopt the going concern basis of accounting in preparing the financial statements.

1.4 Incoming resources

Income is recognised when the Charity is legally entitled it, the amounts can be measured reliably and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

1.5 Resources expended

Expenditure is recognised in the period in which it is incurred.

Costs of charitable activities comprise all expenditure identified as wholly or mainly attributable to achieving the objectives of the charity.

Grants committed are accounted for on an accruals basis (2019 - cash basis). There were no grants committed but unpaid in the previous accounting period.

1.5 Cash and cash equivalents

Cash and cash equivalents include cash in hand and bank overdrafts.

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CHILDREN’S RADIO FOUNDATION UK LIMITED

: CHILDREN’S NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020

2.
DONATIONS AND LEGACIES
Unrestricted Restricted Total Funds Total Funds
2020 2019
£ £ £ £
Donations 60,846 - 60,846 61,290
3.
EXPENDITURE ON CHARITABLE ACTIVITIES
Unrestricted Restricted Total Funds Total Funds
2020 2019
£ £ £ £
Grant funding
Grants payable 55,216 20,000 75,216 216
55,216 20,000 75,216 216
Support costs
Bank charges 266 - 266 139
Consultancy fees UK 5,500 2,250 7,750 3,125
Governance costs 10,989 - 10,989 6,571
Total support costs 16,755 2,250 19,005 9,835
Total charitable activities 71,971 22,250 94,221 10,051
4.
GOVERNANCE COSTS
Analysis ofgovernance costs included in Charitable Activities
Unrestricted Restricted Total Funds Total Funds
2020 2019
£ £ £ £
Independent Examination fee 930 - 930 930
Secretariat services fees 5,019 - 5,019 4,561
Legal fees 5,040 - 5,040 1,080
10,989 - 10,989 6,571

Governance costs include payments to the auditors of £930 (2019:£930) for examination fees.

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CHILDREN’S RADIO FOUNDATION UK LIMITED

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020

5. EMPLOYEES

There were no employees during the year (2019: none).

6. DEBTORS

2020 2019
£ £
Income tax recoverable - 5,275
Donation due - 1,000
Other debtors 1 i
di 6,276
7.
CREDITORS
2020 2019
£ £
Trade creditors - 2,320
Accruals 2,100 1,370
2,100 3,690

8. SHARE CAPITAL

Children’s Radio Limited, incorporated in the USA, holds 100% of the share capital of The Children’s Radio Foundation UK Limited. £1 ordinary share is held, which was unpaid at the year end.

CHILDREN’S RADIO FOUNDATION UK LIMITED

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2020

eenena 9. UNRESTRICTED INCOME FUNDS

Balance as at
1Jan
2020		 —
open		 Gutecin
moa		 Transfers Balanceas
at31Dec
2020
£ £ £ £ £
Share capital 1 - - - 1
Total funds 27,413 60,846 (71,971) - 16,288
27,414 60,846 (71,971) - 16,289
Balance asat
1Jan
2020		 —s
bio		 itentn
cote		 Transfers Balanceas
at31Dec
2020
£ £ £ £ £
Share capital 1 - - - 1
Total funds (6,951) 41,290 (6,925) - 27,413
(6,950) 41,290 (6,925) - 27,414
10. RESTRICTED INCOME FUNDS
Balance as at
1Jan
2020		 —s
bettie		 es
cena		 Transfers Balance as
at31Dec
2020
£ £ £ £ £
Ebola appeal 10,105 - - - 10,105
DRC 9,501 - - - 9,501
Ghana 4,072 - - - 4,072
Adolescent mental health
-South Africa		 20,000 - 20,000
(
)		 - e
Majordonors project 14,075 - (2,250) - 11,825
Totalfunds 57,753 - (22,250) - 35,502

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CHILDREN’S RADIO FOUNDATION UK LIMITED

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020

aee

11. ANALSIS OF NET ASSETS BETWEEN FUNDS

Unrestricted Restricted Total Funds Total Funds
Fund Fund 2020 2019
£ £ £ £
Fund balances at 31 December
2020 are represented by: Current 16,289 35,502 51,791 85,167
assets/(liabilities) :
16,289 35,502 51,791 85,167

12. RELATED PARTY TRANSACTIONS

No trustees received any remuneration, expenses or received any other benefits from an employment with the charity.

In the year, £10,059 (2019: £5,455) was paid to BDB Pitmans LLP for accountancy and legal services, of which Simon Weil (Trustee) is a partner of the firm. Nothing was outstanding as at the year-end (2019: £2,320).

13. CONTINGENCIES

The trustees have confirmed that there were no contingent liabilities which should be disclosed at 31 December 2020 (2019: none).

14. POST BALANCE SHEET EVENTS

Since the balance sheet date no events have occurred which would have a material effect on these financial statements.

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