**Charity Registration No. 1127219 Company No: 06642273**
**CHILDREN’S RADIO FOUNDATION UK LIMITED TRUSTEES’ ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
**CHILDREN’S RADIO FOUNDATION UK LIMITED**
## **CONTENTS**
**__________________________________________________________________________________**
||**Page**|
|---|---|
|Charity Information|3|
|Trustees’ Report|4 - 6|
|Statement of Responsibilities|7|
|Independent Examiner’s Report|8|
|Statement of Financial Activities|9|
|Balance Sheet|10|
|Notes to the Accounts|11 - 15|
2
**CHILDREN’S RADIO FOUNDATION UK LIMITED**
## **TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED)**
**__________________________________________________________________________________**
|**Trustees and Directors**|Emmanuelle Therese Ghislaine Parr (Chair)|
|---|---|
||Brenda Elise Ormerod|
||Gerald David Adekunle Adigun|
||Sam Bonham|
|**Charity Registration Number**|1127219|
|**Company Registration Number**|06642273|
|**(England and Wales)**||
|**Registered Office**|7 Albert Buildings|
||49 Queen Victoria Street|
||London|
||EC4N 4SA|
|**Independent Examiner**|Amir Absoud|
||Upstreamly Chartered Accountants|
||7 Albert Buildings|
||49 Queen Victoria Street|
||London|
||EC4N 4SA|
|**Bankers**|C. Hoare & Co|
||37 Fleet Street|
||London|
||EC4P 4DQ|
3
**CHILDREN’S RADIO FOUNDATION UK LIMITED**
**TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT)**
## **_________________________________________________________________________**
The Trustees present their report together with the unaudited financial statements of Children’s Radio Foundation UK Limited (“the Charity” or “CRF”) for the year ended 31 December 2023.
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 is supported on a pro-bono basis by Upstreamly Chartered Accountants to run the legal, governance and financial needs of the organisation.
## **OBJECTIVES AND ACTIVITIES**
CRF trains youth across Africa to make radio and podcasts. CRF provides the tools and teaches the skills. Youth bring their creativity, local knowledge, and passion for tackling the issues that matter to them and their communities. They are the new generation of African journalists, thought leaders, storytellers, and activists.
Founded in 2006, CRF has trained over 5,000 youth reporters at more than 100 radio stations in 10 countries in Africa, reaching up to 9 million listeners weekly.
Delivered in local languages and in a youth-friendly style, their radio shows weave together personal narratives and information on these issues to create dynamic radio shows. CRF supports them with training, production tools, and mentoring so that their reporting is fact-based, engaging, and responsive to the needs and concerns of their listeners.
4
**CHILDREN’S RADIO FOUNDATION UK LIMITED**
**TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED)**
**__________________________________________________________________________________**
CRF’s podcast (Radio Workshop) brings African youth stories to global audiences. are distributed across podcast platforms, through international radio broadcast networks, and on radio station partners as free-to-use content. The podcast brings audiences close to the lives, experiences, and narratives of African youth.
The aim of the Charity in the UK is to contribute to the youth radio and audio programmes ran by in CRF South Africa. We do this by applying for grants, receiving donations and fundraising at the occasional function.
## **ACHIEVEMENTS AND PERFORMANCE**
Donations of £62,311 (2022: £14,385) have been received (including gift aid), grants made from the charity were £15,000 available to CRF South Africa in support of 2023 projects (2022: £25,000) towards their continued work on mental health, climate change and for CRF South Africa core funding.
## **Fundraising**
Section 162A of the 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:
- the Charity has regard to the Fundraising Regulator's Code for regulating fund-raising;
- the Charity took steps to monitor any fund-raising activities carried out on its behalf;
- the Charity took steps to protect the public, in particular vulnerable people, from behaviour
which:
- is an unreasonable intrusion on a person's privacy
- is unreasonably persistent; or
- places undue pressure on a person to give money or other property.
## **FINANCIAL REVIEW**
The Charity is enormously grateful to continue to receive funds from the Kathleen Hannay Memorial Charity, the De Brye Charitable Trust and Adam Parr. The Charity also wishes to thank Upstreamly Limited for their probono accounting and secretarial work.
## **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 2024.
## **Public benefit Statement**
The Trustees are aware of the Charity Commission's guidance on public benefit. The 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.
5
**CHILDREN’S RADIO FOUNDATION UK LIMITED**
**TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED)**
**__________________________________________________________________________________**
## **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 2023 there were reserves of £51,237 (2022: £6,758) earmarked for spending in 2024 and to be used for charitable purposes in future. As at 31 December 2023, there were no restricted funds (2022: £Nil).
## **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 external events such as the rising cost of living, and the conflicts in Ukraine and the Middle East.
The main consideration was the implications the above factors 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.
6
**CHILDREN’S RADIO FOUNDATION UK LIMITED**
## **STATEMENT OF RESPONSIBILITIES**
## **FOR THE YEAR ENDED 31 DECEMBER 2023**
## **__________________________________________________________________________________**
## **Statement of responsibilities**
The trustees, who during the reporting year were also the directors of the Children’s Radio Foundation UK Limited for the purpose of company law, are responsible for 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:
- select suitable accounting policies and apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements 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 charitable company will continue in operation.
The trustees are responsible for keeping adequate accounting records with reasonable accuracy and 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.
Signed on behalf of the trustees
## Emmanuelle Parr
Emmanuelle Parr (Sep 11, 2024 16:18 GMT+1)
## **E Parr**
Trustee
Date: 11[th] September 2024
7
**CHILDREN’S RADIO FOUNDATION UK LIMITED**
## **INDEPENDENT EXAMINER’S REPORT**
## **FOR THE YEAR ENDED 31 DECEMBER 2023**
## **__________________________________________________________________________________**
## **Independent Examiner’s Report to the Trustees of Children’s Radio Foundation UK Limited**
I report to the trustees on my examination of the accounts of the Children’s Radio Foundation UK Limited (“the Company”) for the year ended 31 December 2023.
## **Responsibilities and Basis of Report**
As the charity trustees of the Trust, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act. In carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent Examiner’s Statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that, in any material respect:
1. Accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
2. The accounts do not accord with those records; or
3. The accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008, 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.
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.
## Amir Absoud (Sep 11, 2024 16:23 GMT+1)
## **Amir Absoud, FCA**
Member of the Institute of Chartered Accountants in England and Wales Upstreamly Chartered Accountants 7 Albert Buildings 49 Queen Victoria Street London EC4N 4SA
Date: 11th September 2024
8
**CHILDREN’S RADIO FOUNDATION UK LIMITED**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **FOR THE YEAR ENDED 31 DECEMBER 2023**
|**_________________________________________**
Notes
**INCOME AND EXPENDITURE**
**Incoming resources**
Donations and legacies
2
Investments
**_Total incoming resources_**
**Resources expended**
Charitable activities
3
**_Total resources expended_**
**Net income/(expenditure) for the year**
**Transfers between funds**
**Net movement in funds**
**_Reconciliation of funds:_**
Total funds brought forward
**_Total funds carried forward_**|**________________**
**Unrestricted**
**Funds**
**£**
**57,311**
**348**
**57,659**
**13,180**
**13,180**
**44,479**
**-**
**44,479**
**6,757**
**51,236**|**______________**
**Restricted**
**Funds**
**£**
**5,000**
**-**
**5,000**
**5,000**
**5,000**
**-**
**-**
**-**
**-**|**_______________**
**TOTAL**
**2023**
**£**
**62,311**
**348**
**62,659**
**18,180**
**18,180**
**44,479**
**-**
**44,479**
**6,757**
**51,236**|**______________**
Unrestricted
Funds
£
14,385
-
14,385
30,653
30,653
(16,268)
4,072
(12,196)
18,953
6,757|**_______________**
Restricted
Funds
£
-
-
-
-
-
-
(4,072)
(4,072)
4,072
-|**___________**
TOTAL
2022
£
14,385
-|
|---|---|---|---|---|---|---|
|||||||14,385|
|||||||30,653|
|||||||30,653|
|||||||(16,268)
-|
|||||||(16,268)|
|||||||23,025|
|||||||6,757|
The statement of financial activities includes all gains and losses in the year.
All income and expenditure derive from continuous activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under Companies Act 2006.
9
**CHILDREN’S RADIO FOUNDATION UK LIMITED**
## **BALANCE SHEET**
## **FOR THE YEAR ENDED 31 DECEMBER 2023**
**__________________________________________________________________________________**
|Notes
**Current Assets**
Debtors
6
Cash at bank
**CREDITORS:**Amounts
falling due within one year
**NET CURRENT ASSETS**
**FUNDS**
**INCOME FUNDS**
Share capital
7
Restricted funds
8
Unrestricted funds
9
**TOTAL INCOME**
**FUNDS**|**2023**
**£**
1
51,236
51,237
-|**£**
51,237
1
-
51,236
51,237|**2022**
**£**
1
6,757
6,758
-|**£**|
|---|---|---|---|---|
|||||6,758|
|||||1
-
6,757|
|||||6,758|
The notes on pages 10 to 14 form part of these financial statements.
For the year 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Trustees’ responsibilities:
- The member has not required the company to obtain an audit of its accounts for the year ended in question in accordance with section 476; and
- The trustees acknowledge their responsibilities for complying with the requirements of the Act within respect to accounting records and the preparation of accounts.
The accounts were approved by the Trustees on 11[th] September 2024.
## Emmanuelle Parr
Emmanuelle Parr (Sep 11, 2024 16:18 GMT+1)
## **E Parr**
Trustee
10
**CHILDREN’S RADIO FOUNDATION UK LIMITED**
**NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2023**
**__________________________________________________________________________________**
## **1. ACCOUNTING POLICIES**
## **1.1 Charity Information**
Children’s Radio Foundation UK Limited is a charitable company registered in England and Wales with registration number 06642273. It was incorporated on 9 July 2008.
## **1.2 Basis of preparation**
The financial statements have been prepared 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 (FRS 102) as amended for accounting period commencing from 1 January 2019.
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 £.
Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
## **1.3 Public benefit entity**
Children’s Radio Foundation UK Limited is a Public Benefit Entity as defined by FRS 102.
## **1.4 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. There are no material uncertainties that the Charity’s activities are able to continue for the foreseeable future, being twelve months from the date of approval of the accounts, and therefore have prepared the accounts on a going concern basis.
## **1.5 Incoming resources**
Income is recognised when the Charity is legally entitled to 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.
## **1.6 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes. Restricted funds have been given to a charity for a particular reason and can only be spent in accordance with the requests of the donor.
## **1.7 Resources expended and allocation of support costs**
All expenditure is recognised in the period in which a liability is incurred and has been classified under headings that aggregate all costs related to that category. 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. There were no grants committed but unpaid in the previous accounting period.
11
**CHILDREN’S RADIO FOUNDATION UK LIMITED**
## **NOTES TO THE ACCOUNTS (CONTINUED)**
## **FOR THE YEAR ENDED 31 DECEMBER 2023**
## **1. ACCOUNTING POLICIES (CONTINUED)**
## **1.8 Cash and cash equivalents**
Cash and cash equivalents include cash in hand and bank overdrafts.
## **1.9 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.
## **1.10 Debtors**
Trade and other debtors are recognised at the settlement amount due.
## **1.11 Creditors**
Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.
## **2. DONATIONS AND LEGACIES**
|Donations
Donated services|**Unrestricted**
**£**
56,411
900
57,311|**Restricted**
**£**
5,000
-
5,000|**Total**
**Funds**
**2023**
**£**
61,411
900
62,311|Total
Funds
2022
£
13,485
900|
|---|---|---|---|---|
|||||14,385|
Donated services represent accounting fees provided to the Charity on a pro bono basis.
12
**CHILDREN’S RADIO FOUNDATION UK LIMITED**
## **NOTES TO THE ACCOUNTS (CONTINUED)**
## **FOR THE YEAR ENDED 31 DECEMBER 2023**
## **3. EXPENDITURE ON CHARITABLE ACTIVITIES**
|**Grant funding**
Grant payable
Bank charges - Just giving
**Support costs**
Bank charges
Fines & Penalties
Governance costs
Subscriptions
Advertising and marketing
**Total support costs**
**Total charitable activities**|**Unrestricted**
**£**
10,000
360
10,360
402
100
1,980
173
165
2,820
13,180|**Restricted**
**£**
5,000
-
5,000
-
-
-
-
-
-
5,000|**Total**
**Funds**
**2023**
**£**
15,000
360
15,360
402
100
1,980
173
165
2,820
18,180|Total
Funds
2022
£
25,000
216|
|---|---|---|---|---|
|||||25,216|
|||||403
-
5,034
-
-|
|||||5,437|
|||||30,653|
## **4. GOVERNANCE COSTS**
Analysis of governance costs included in Charitable Activities.
|Secretariat services fees|**Unrestricted**
**£**
1,980
1,980|**Restricted**
**£**
-
-|**Total**
**Funds**
**2023**
**£**
1,980
1,980|Total
Funds
2022
£
5,034|
|---|---|---|---|---|
|||||5,034|
## **5. EMPLOYEES AND KEY MANAGEMENT PERSONNEL**
There were no employees during the year (2022: none)
The charity trustees were not paid or received any benefits from the Charity or its parent in the year (2022: £nil) neither were they reimbursed expenses during the year (2022: £nil).
13
**CHILDREN’S RADIO FOUNDATION UK LIMITED**
## **NOTES TO THE ACCOUNTS (CONTINUED)**
## **FOR THE YEAR ENDED 31 DECEMBER 2023**
**6. DEBTORS**
|**. DEBTORS**|||
|---|---|---|
|Other debtors|**2023**
**£**
1
1|2022
£
1|
|||1|
Other debtors consist wholly of the amount of the unpaid share capital at the balance sheet date.
## **7. SHARE CAPITAL**
At the balance sheet date, Emmanuelle Parr held 100% of the share capital of The Children's Radio Foundation UK Limited. £1 ordinary share was held, which was unpaid at the year end.
## **8. RESTRICTED FUNDS**
|Restricted funds
Total funds|**Balance**
**as at**
**1 Jan**
**2023**
**£**
-
-|**Incoming**
**resources**
**£**
5,000
5,000|**Outgoing**
**resources**
**£**
(5,000)
(5,000)|**Transfers**
**£**
-
-|**Balance**
**as at**
**31 Dec**
**2023**
**£**
-|
|---|---|---|---|---|---|
||||||-|
A £5,000 restricted donation was received to fund climate issues. It was fully spent in the reporting year. Restricted balances are therefore £nil (2022: £nil) at the balance sheet date.
14
**CHILDREN’S RADIO FOUNDATION UK LIMITED**
## **NOTES TO THE ACCOUNTS (CONTINUED)**
## **FOR THE YEAR ENDED 31 DECEMBER 2023**
## **9. UNRESTRICTED FUNDS**
|**Balance**
**as at**
**1 Jan**
**2023**
**£**
Unrestricted funds
6,757
Total funds
6,757
**Balance**
**as at**
**1 Jan**
**2022**
**£**
Unrestricted funds
18,953
Total funds
18,953
**10. ANALYSIS OF NET ASSETS BETWEEN**
Fund balances at 31 December
2023 are represented by: Current
assets|**Balance**
**as at**
**1 Jan**
**2023**
**£**
Unrestricted funds
6,757
Total funds
6,757
**Balance**
**as at**
**1 Jan**
**2022**
**£**
Unrestricted funds
18,953
Total funds
18,953
**10. ANALYSIS OF NET ASSETS BETWEEN**
Fund balances at 31 December
2023 are represented by: Current
assets|**Incoming**
**resources**
**£**
57,659
57,659
**Incoming**
**resources**
**£**
14,385
14,385
**FUNDS**
**Unrestricted**
**Funds**
**£**
51,236
51,236||**Outgoing**
**resources**
**£**
(13,180)
(13,180)
**Outgoing**
**resources**
**£**
(30,653)
(30,653)
**Restricted**
**Funds**
**£**
-
-||**Transfers**
**£**
-
-
**Transfers**
**£**
4,072
4,072
**Total**
**Funds**
**2023**
**£**
51,236
51,236|**Balance**
**as at**
**31 Dec**
**2023**
**£**
51,236
51,236
**Balance**
**as at**
**31 Dec**
**2022**
**£**
6,757
6,757
Total
Funds
2022
£
6,757|
|---|---|---|---|---|---|---|---|
|||||||||
|||||||||
|||||||||
|||||||||
||||||||6,757|
## **11. RELATED PARTY TRANSACTIONS**
There were no related party transactions during the year (2022: nil).
15