Registered number: 06854359 Charity number: 1137248
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Academy FM Folkestone (A company limited by guarantee)
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Unaudited Trustees’ report and financial statements For the year ended 31 March 2024
Academy FM Folkestone
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(A company limited by guarantee)
Contents
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|Reference|and|administrative|details|of the|Charity,|its Trustees|and|advisers|1|
|Trustees’|report|.|2-5|
|Independent|examiner's|report|6|
|Statement|of financial|activities|7|
|Balance|sheet|8|
|Notes|to the financial|statements|9-20|
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Academy FM Folkestone
(A company limited by guarantee)
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Reference and administrative details of the Charity, its Trustees and advisers For the year ended 31 March 2024
Trustees
G Miles DL (resigned 31 August 2023)
T J Minter OBE DL (resigned 11 August 2023)
J.Nolan
G Wilson K Tibbles W Conyers (appointed 7 December 2023) D Sharp (appointed 16 November 2023)
Company registered number
06854359
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Charity registered number
1137248
Registered office
c/o Folkestone Academy Academy Lane Folkestone Kent CT19 5FP Independent examiners Kreston Reeves LLP Chartered Accountants 37 St Margaret's Street Canterbury Kent , CT1 2TU
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Page 1
Academy FM Folkestone (A company limited by guarantee)
Trustees’ report
For the year ended 31 March 2024
The Trustees present their annual report together with the financial statements of the Charity for the year 1 April 2023 to 31 March 2024. The Annual report serves the purposes of both a Trustees' report and a directors’ report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the Charity qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors’ Report) Regulations 2013 has been omitted.
Objectives and activities
a. Policies and objectives
The Charity has two areas of activity which enable it to meet its charitable aims. These are to improve the education of young people and in particular broaden the experience of students of the Folkestone Academy, and to continue to develop strong links to the communities which it serves. To achieve these aims, Academy FM Folkestone operates a community radio station and also runs educational projects for young people based on radio. Its registered office is the school premises of Folkestone Academy, Studio premises for broadcast are in the Glassworks Building in Mill Bay, central Folkestone. The station was launched on 31 March 2011. The charity’s aims as a community broadcaster are met by the operation of 105.9 Academy FM Folkestone under an Ofcom license to broadcast on FM to the Folkestone urban area.
in setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance ‘Public benefit: running a charity (PB2)’.
b. Activities undertaken to achieve objectives
The charity is based in a school in order to deliver educational projects where young people engage in radio production and broadcasting, using the medium of radio to help grow young people's self-confidence, communication skills and team working. Until Septernber 2023 the charity's Community Radio Station, 105.9 Academy FM Folkestone, had its main broadcasting studios in the Academy, but since then the FM broadcasting studio has changed to the Glassworks studio in central Folkestone, which has 24-hour access. Turner Schools, which is the school Trust that includes the Academy, started a new school-only radio station, broadcasting online from the Academy site, which was set up in Autumn 2023 and went live in November of that year. This change arose from a wish by Turner Schools to increase radio-education work, and Academy FM Folkestone’s financial situation in the summer (June/July) of 2023; Trustees decided in August that a simplification of operations would benefit the charity, and it was decided to physically separate the FM operation (largely reliant on adult volunteers) from the charitable educational work (largely involving young people in a school setting). Activities including FM broadcasting and charitable delivery have continued during this period.
Academy FM hasa significant track record in charitable educational work. Station staff have been acclaimed for the work with pupils of all ages and abilities, ranging from the brightest in the school to those with Special Educational Needs. In the 2016-2023 period the station has won 11 Community Radio and Young Audio awards. The charity sustains community cohesion by the FM station broadcasting local news and information, with regular interviews about local issues and is one of the major factual online information sources for the community. The website is at www.academyfmfolkestone.com. The charity is funded by grants, donations and revenue from advertising and sponsorship. Since early 2015 the charity's OFCOM radio licence no longer forbids the station from carrying on-air advertising, but these other forms of income are still particularly valuable. Most grants are for individual projects; these always have an educational focus and mainly work with young people from local primary and secondary schools. Other income comes from radio advertising and sponsorship sales, hosting events, and donations.
Page 2
Academy FM Folkestone (A company limited by guarantee)
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Trustees' report (continued) For the year ended 31 March 2024
Objectives and activities (continued)
c. Public Benefit
The Trustees have considered the impact of the public benefit requirement including the guidance issued by the Charity Commission. The Charity aims to actively advance the education of Folkestone Academy students and inhabitants of the Folkestone area.
Achievements and performance
a. Review of activities and future plans
In this year the Trustees successfully oversaw further day-to-day management of the FM station being handed over to the adult volunteers. Trustees agreed a draft timescale which would culminate in an application being made to Ofcom in early 2025 to transfer the FM license to a Community Interest Company entirely operated by the current adult volunteers. The viability of such an organisation would depend on it sourcing sufficient income, primarily from radio advertising. Trustees gave the adult volunteers’ Committee advice on realistic targets and they assigned individuals to oversee commercial sales and manage clients.
The charity's income in this Financial Year has been lower than in previous years, due the structural and staffing changes detailed in the previous year’s Accounts. However, in this year a number of grants towards both overheads & broad educational work (Roger De Haan Charitable Trust, Kent Community Foundation), and specific educational projects (Pamela Champion Foundation, Folkestone & Hythe District Council) have kept educational delivery active. With the planned transfer of the FM license to the volunteers’ CIC in 2025 this will allow more of the charity’s staff time to be allocated to grant-writing and project work in order to build income and the number of beneficiaries the charity works with.
Financial review
a. Going concern
__ AttheBoardBoardMeetingsdo considerthe Academy Trustees FMregularlyFolkestoneassesstowhetherbe a Goingthey considerConcern, thewithCharitysteps ina Goingplace toConcern.strengthenCurrentlyits position going forward.
b. Reserves policy
The Trustees pay close attention to the Charity's funds in order to maintain a level of reserves cover any shortterm reductions in funding and ultimately to pay any redundancy payments in the event of closure. The Trustees deem a minimum level of reserves of £5,000 to be sufficient. The Trustees have reviewed this policy and consider it to still be appropriate.
c. Financial status
The charity ended the year with a cash balance of £16,990, and net funds of £17,898. There wasa deficit of income over expenditure for the year of £15,073 compared to a deficit for the previous year of £41,647.
d. Principal funding
The charity continued to receive income from a variety of sources. Grants were received from long-standing supporters such as the Roger De Haan Charitable Trust.
Page 3
Academy FM Folkestone (A company limited by guarantee)
Trustees’ report (continued) For the year ended 31 March 2024
Structure, governance and management
a. Constitution
Academy FM Folkestone is registered as a charitable company limited by guarantee and was incorporated on 20 March 2009. .
The Charity is a registered charity number 1137248.
The Charity's Memorandum and Articles of Association are the primary governing documents. During the "present stages of the Charity's development the Trustees meet as often as is required to take decisions affecting the operation of the charity but at a minimum of twice a year.
b. Methods of appointment or election of Trustees
' Trustees are appointed by the recommendation of the existing Trustees. New Trustees, when appointed, will be provided with an information pack including the latest accounts and the Memorandum and Articles of Association and will be afforded the opportunity to undertake site visits to the premises at the Glassworks.
_c. Policies adopted for the induction and training of Trustees
Although no specific Trustee training programme exists, most of the Trustees continue to have considerable exposure to educational and charitable matters either through their: principal occupation or involvement in other charitable institutions.
d. Risk management
The Trustees have examined the major risks which the Charity faces and have put in place systems, policies, procedures and controls in order to manage and mitigate these risks. Appropriate insurances are in place.
e. Organisational structure and decision making
The Charity is organised with Trustees (listed on page 1) and members of the management committee meeting regularly to manage its affairs. There are two members of permanent staff who, together with the volunteers and fixed term project staff, manage the Charity. Where appropriate, the Trustees will act only after taking appropriate professional advice.
Members' liability
Each member of the charitable company undertakes to contribute to the assets of the Charity in the event of it being wound up while he/she is a member, or within one year after he/she ceases to be a member, such amount as may be required, not exceeding £1, for the debts and liabilities contracted before he/she ceases tobea_ member.
Page 4
Academy FM Folkestone (A company limited by guarantee)
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Trustees' report (continued) For the year ended 31 March 2024
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Statement of Trustees’ responsibilities
The Trustees (who are also the directors of the Charity 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. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
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° - select suitable accounting policies and then apply them consistently; e observe the methods and principles of the Charities SORP (FRS 102);
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° make judgments and accounting estimates that are reasonable and prudent; ° 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 adequate accounting records that are sufficient to show and explain the Charity's transactions and 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.
Approved by order of the members of the board of Trustees and signed on their behalf by:
Date: 19.12.2024
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- Academy FM Folkestone 7 : ae ut
(A company limited by guarantee) , a cS . 7 :
= ‘Independent examiner's report | - _ oo
For the year ended 31 March 2024 . . ; a
oo Independent examiner's report to the Trustees of Academy FM Folkestone (‘the Charity’) ~
) | report to the charity Trustees on my examination of the-accounts of the Charity for the year ended 31 March
Responsibilities and basis of report . - 7 Lo
' As the Trustees of the Charity (and its directors for the purposes of company law) you are responsible forthe ==
preparationof the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
' Having'satisfied myself that the accounts of the Charity are not required to be audited under Part 16 of the 2006 :
; - Actcarried and outare undereligiblesectionfor independent145 of the examination,Charities Act 2011| report(‘thein 2011respect Act’). of myIn examinationcarrying out myof the examinationCharity's accounts| have
ae followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. oo
- Independent examiner's statement ; — oO oo , , ; )
- Thave completed my examination. | confirm that no matters have come to my [attention] [in] [connection] [with] [the] —
examination giving me cauSeto.believe; = |; - i . o .
1. accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act; or
_ ' 2. _ the accounts do not accord with those records; or . , ;
. 3, 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
a an independent examination; or ° ot uO
; 4. Recommendedthe accounts havePracticenot beenfor accountingprepared in accordanceand reportingwithby charitiesthe methods[applicableand principlesto charitiesof thepreparing Statementtheirof |
accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of
‘Ireland (FRS 102)). OO ; . 7
| have no concerns and have come across no other matters in connection with the examination to which- | oS
i attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
. This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities oo.
" , (Accounts and Reports) Regulations 2008. My work has been undertaken so that | might state to the Charity's
: - * . Trustees those matters | am required to.state to them in an Independent examiner's report and for no other :
co, purpose. To the fullest extent permitted by law, | do not accept or assume responsibility to-anyone other thanthe .° ~
’ Charity and the Charity's Trustees as a body, for my work or for this report. Lo 7
’ Signed: Do. : Dated: 20 December 2024 a a . )
Peter Manser FCA DChA co . ; a
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Kreston Reeves LLP So,
BS .
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Chartered Accountants. .
- Canterbury. : ; , Do, | —
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Academy FM Folkestone (A company limited by guarantee)
Statement of financial activities (incorporating income and expenditure account) For the year ended 31 March 2024
| Restricted | Unrestricted | Total | Total | |||||
|---|---|---|---|---|---|---|---|---|
| funds | funds | funds | funds | |||||
| 2024 | 2024 | 2024 | 2023 | |||||
| Note | £ | £ | £ | £ | ||||
| Income from: | ||||||||
| Donations and legacies | 3 | 2,000 | 30,654 | 32,654 | 51,852 | |||
| Charitable activities | 4 | - | - | - | 17,000 | |||
| Other trading activities | 5 | - | 14,920 | 14,920 | 11,741 | |||
| Investments | 6 | - | 306 | 306 | 247 | |||
| Total income | 2,000 | 45,880 | 47,880 | 80,840 | ||||
| Expenditure on: | _ | — | ||||||
| Charitable activities | 7 | 9,861 | 53,092 | 62,953 | 122,487 | |||
| Total expenditure | - 9,861 | 53,092 | 62,953 | 122,487 | ||||
| Net movement in funds | (7,861) | (7,212) | (15,073) | (41,647) | ||||
| Reconciliation offunds: | ||||||||
| Total funds brought | forward | 12,465 | 20,506 | 32,971 | 74,618 | |||
| Net movement in funds | (7,861) | (7,212) | (15,073) | (41,647) | ||||
| Total funds carried forward | 4,604 | 13,294 | 17,898 | 32,971 |
Page 7
Academy FM Folkestone (A company limited by guarantee) Registered number: 06854359
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Balance sheet As at 31 March 2024
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| 2024 | 2023 | ||||
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| Note | £ | £ | |||
| Tangible assets | 10 | 207 | 142 | ||
| 207 | 142 | ||||
| Current assets | |||||
| Debtors | 11 | 4,214 | . | 3,707 | |
| Cash at bank and in hand | 16,990 | 33,698 | |||
| 21,204 | 37,405 | ||||
| Creditors: amounts falling due within one | |||||
| year | 12 | (3,513) | (4,576) | ||
| Net currentassets | 17,691 | 32,829 | |||
| Total netassets | 17,898 | 32,971 | |||
| Charityfunds | |||||
| Restricted funds | 13 | 4,604 | 12,465 | ||
| Unrestricted funds | 13 | 13,294 | 20,506 | ||
| Totalfunds | 17,898 | 32,971 |
The Charity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
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G [Wilson”] eeNe
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Date:
The notes on pages 9 to 20 form part of these financial statements.
Page 8
Academy FM Folkestone (A company limited by guarantee)
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Notes to the financial statements For the year ended 31 March 2024
1. General information
Academy FM Folkestone is a charitable company limited by guarantee which was incorporated in England and Wales.
The Charity's registered office is C/O Folkestone Academy, Academy Lane, Folkestone, Kent, CT19 5FP.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements 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 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Academy FM Folkestone meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
The financial statements are presented in pounds sterling and are rounded to the nearest pound.
2.2 Going concern
The Trustees have considered the financial position of the charity in light of the changes implemented in the last two years. After reviewing the current level of funds and the financial projections, they are satisfied that the charity will have sufficient resources to continue in operational existence for the foreseeable future. The Trustees will only commit to further expenidure if there is sufficient incoming resources to cover it. Therefore, the financial statements have been prepared on a going concern basis.
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2.3 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
Page 9
Academy FM Folkestone (A company limited by guarantee)
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Notes to the financial statements For the year ended 31 March 2024
2. Accounting policies (continued)
2.4 Income All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
2.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.
Governance costs are those incurred in connection with administration of the company and compliance with constitutional and statutory requirements.
Charitable activities and Support costs are costs incurred as part of the company’s educational operations, including support costs and costs relating to the governance of the company apportioned to charitable activities.
All expenditure is inclusive of irrecoverable VAT.
2.6 Tangible fixed assets and depreciation
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be inctuded in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives on the following basis:
Office equipment
- 20% Straight-line
Where tangible fixed assets have been acquired with the aid of specific grants, they are included in the balance sheet at cost and are depreciated over their economic lives on a basis consistent with the depreciation policy. The related grants are credited to a restricted Fixed Asset fund which is then charged with the depreciation on the relevant assets.
2.7 Debtors Debtors are recognised when the Charity is legally entitled to the income after any performance conditions have been met, the amount can be reliably measured and it is probable that the income will be received.
Page 10
Academy FM Folkestone (A company limited by guarantee)
Notes to the financial statements
For the year ended 31 March 2024
2. Accounting policies (continued)
- 2.8 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.9 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 with the exception of bank loans which are subsequently . measured at amortised cost using the effective interest method.
2.10 Pensions
The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.
2.11 Interest receivable
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 institution with whom the funds are deposited.
2.12 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
2.13 Taxation
Academy FM Folkestone is a registered charity and as such its income and gains are exempt from __ incomeprovisionsandof thecorporationCorporationtax toTaxtheActextent2010.that they are applied to its charitable activities under the
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Page 11
Academy FM Folkestone (A company limited by guarantee)
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Notes to the financial statements
For the year ended 31 March 2024 _
3. Income from donations and legacies
| Restricted | Unrestricted | Total | Total | |
|---|---|---|---|---|
| funds | funds | funds | funds | |
| 2024 | 2024 | 2024 | 2023 | |
| £ | £ | £ | £ | |
| Grants | 2,000 | 26,000 | 28,000 | 45,167 |
| Other Donations | - | 4,654 | 4,654 | 6,685 |
| 2,000 | 30,654 | 32,654 | 51,852 | |
| Total 2023 | 20,013 | 31,839 | 51,852 | |
| GrantReceivable |
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Folkestone and Hythe District Council | - | 10,000 |
| RogerDe Haan Charitable Trust | 15,000 | 15,000 |
| KCC Reconnect Radio | - | 6,788 |
| We are Folkestone | oo | 800 |
| Pamela Champion Foundation | 2,000 | - |
| Apprenticeship and Income Generation | - | 10,154 |
| FHDC Oracy Stowting | - | 820 |
| KentCommunity Foundation | 11,000 | - |
| FHDC Oracy East Folkestone | - | 1,105 |
| FHDC Cooking Project | - | 500 |
| 28,000 | 45,167 |
Page 12
Academy FM Folkestone (A company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2024
4. Income from charitable activities
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||||||
|---|---|---|---|---|
|Unrestricted|Total|Total|
|funds|funds|funds|
|;|2024|2024|2023|
|£|£|£|
|.|
|Educational|activities|-|-|47,000|
|Total|2023|17,000|17,000|
|5.|Income from|other trading|activities|
|Income from|fundraising|events|
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|---|---|---|---|---|---|
|Unrestricted|Total|Total|
|funds|funds|funds|
|2024|2024|2023|
|£|£|£|
|Fundraising|activities|1,265|1,265|2,385|
|Total|2023|2,385|2,385|
|Income from|non|charitable|trading|activities|
|Unrestricted|Total|Total|
|funds|funds|funds|
|2024|2024|2023|
|£|£|£|
|-|Advertising|13,655|13,655|9,356|
|Total|2023|,|9,356|9,356|
|6.|Investment|income|
|Unrestricted|Total|Total|
|funds|funds|funds|
|2024|2024|2023|
|£|£|£|
|Bank|interest|receivable|306|306|247|
|Total|2023|247|247|
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Page 13
Academy FM Folkestone (A company limited by guarantee)
Notes to the financial statements
For the year ended 31 March 2024
7. Expenditure on charitable activities
| , | Restricted | Unrestricted | Total | Total | |
|---|---|---|---|---|---|
| funds | funds | funds | funds | ||
| 2024 | 2024 | 2024 | 2023 | ||
| £ | £ | £ | £ | ||
| Wages and salaries | 7,500 | 20,351 | 27,851 | 71,951 | |
| Pension contributions | ~ | 299 | 299 | 1,231 | |
| Sundry | - | - | - | 209 | |
| Temporarymanagement fees | - | 9,808 | 9,808 | 6,661 | |
| Depreciation | - | 179 | 179 | 144 | |
| Legal & professional fees | - | 1,090 | 1,090 | 659 | |
| Independent examiners | fees | — | 4,800 | 1,800 | 1,838 |
| Accountancy | - | 1,686 | 1,686 | 1,706 | |
| Promotional and commemorative events | - | - | - | 2,225 | |
| Bad debts | - | 94 | 94 | 130 | |
| Technical support | - | 2,961 | 2,961 | 3,208 | |
| Printing and stationery | - | 33 | 33 | 274 | |
| Telephone and Computer | - | 3,186 | 3,186 | 3,100 | |
| Repairs and maintenance | - | 1,298 | 1,298 | 1,216 | |
| Travel & Subsistence | - | 124 | 124 | - | |
| Subscriptions | - | 5,916 | 5,916 | 7,018 | |
| General office expense | - | 91 | 91 | 267 | |
| Projectexpenses | 2,361 | 1,952 | 4,313 | 18,238 | |
| Insurance | - | 2,062 | 2,062 | 2,236 | |
| Bankcharges | - | 162 | 162 | 176 | |
| 9,861 | 53,092 | 62,953 | 122,487 | ||
| Total 2023 | 53,632 | 68,855 | 122,487 | ||
| Staffcosts | |||||
| 2024 | 2023 | ||||
| . | £ | £ | |||
| Wages and salaries | 27,851 | 71,951 | |||
| Contribution to defined | contribution pension | schemes | 299 | 1,231 | |
| 28,150 | 73,182 |
8. Staff costs .
During the year total settlement payments were ENil (2023: £1,077).
Page 14
Academy FM Folkestone (A company limited by guarantee) ,
Notes to the financial statements
For the year ended 31 March 2024
- Staff costs (continued)
The average number of persons employed by the Charity during the year was as follows:
| 2024 | 2023 | |
|---|---|---|
| No. | No. | |
| Employees | 3 | 4 |
No employee received remuneration amounting to more than £60,000 in either year.
9. Trustees’ remuneration and expenses
During the year D Sharp, a Trustee, received remuneration for his role of Project Manager of £3,850. No other Trustees received any remuneration or other benefits (2023 - £Nil).
During the year ended 31 March 2024, no Trustee expenses have been incurred (2023 - £NIL).
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10. Tangible fixed assets
| Tangible fixed assets | ; | ||
|---|---|---|---|
| Office | |||
| equipment | |||
| £ | |||
| Cost or valuation | |||
| At 1 April 2023 | 104,548 | ||
| Additions | 244 | ||
| _ | At 31 March 2024 | 104,792 | |
| Depreciation | |||
| At 1 April 2023 | 104,406 | ||
| Chargeforthe year | 179 | ||
| At 31 March 2024 | 104,585 | ||
| Net book value | |||
| At 31 March 2024 | 207 | ; | |
| At31March2023 | 142 |
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Page 15
Academy FM Folkestone (A company limited by guarantee)
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Notes to the financial statements For the year ended 31 March 2024
11. Debtors
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| £ | £ | ||||
| Trade debtors | ; | 2,001 | 724 | ||
| Other debtors | 73 | - | |||
| Prepayments and accrued income | 2,140 | 2,983 | |||
| 4,214 | 3,707 | ||||
| Creditors: Amounts falling due within oneyear | |||||
| 2024 | 2023 | ||||
| ; | £ | £ | |||
| Trade creditors | 566 | 427 | |||
| Pension contribution creditor | 73 | 190 | |||
| Accruals and deferred income | 2,874 | 3,959 | |||
| 3,513 | 4,576 | ||||
| 2024 | 2023 | ||||
| £ | £ | ||||
| Deferred income at 1 April 2023 | 1,026 | 1,965 | |||
| Resources deferred during theyear | 149 | 1,026 | |||
| Amounts released from previous periods | (1,026) | (1,965) | |||
| Deferredincomeasat31March2024 | 149 | 1,026 |
12. Creditors: Amounts falling due within one year
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Academy FM Folkestone
;
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2024
13. Statement of funds
Statement of funds - current year
----- Start of picture text -----
||||||||||
|---|---|---|---|---|---|---|---|---|
|Balance|at|
|Balance|at|1|31|March|
|April|2023|Income|Expenditure|2024|
|£|£|£|£|
|Unrestricted|funds|
|General|Fund|20,506|45,880|(53,092)|13,294|
|Restricted|funds|
|Awards|for|All|Folkestone|Matters|1,822|-|(765)|1,057|
|KCF|-|Creative|Careers|56|-|-|56|
|Pamela|Champion|Foundation|Fund|-|2,000|(624)|1,376|
|Folkestone and|Hythe|District|Council|9,425|-|(8,095)|1,330|
|FHDC|Primary Careers|-170|-|(170)|-|
|Think|Positive|Project|207|-|(207)|-|
|Heritage|Fund|(WW2|project)|785|-|-|785|
|12,465|2,000|(9,861)|4,604|
|Total|of funds|32,971|47,880|(62,953)|17,898|
----- End of picture text -----
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Academy FM Folkestone (A company limited by guarantee)
Notes to the financial statements
For the year ended 31 March 2024
13. Statement of funds (continued)
Statement of funds - prior year
----- Start of picture text -----
|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|Balance|at|
|.|Balance|at|31|March|
|1|April|2022|Income|Expenditure|2023|
|£|£|£|£|
|Unrestricted|funds|
|General|Fund|28,534|60,827|(68,855)|20,506|
|Restricted|funds|
|KCC|Reconnect|Drama|4,305|-|(1,305)|-|
|Awards|for|Ail|Folkestone|Matters|7,849|-|(6,027)|1,822|
|KCC|Reconnect|Radio|20,058|6,788|(26,846)|-|
|We|are|Folkestone|104|800|(904)|-|
|KCF|-|Creative|Careers|4,300|-|(4,244)|56|
|Little|Cheyne|Wind|Farm|(WW2|Project)|3,000|-|(3,000)|-|
|Folkestone|and|Hythe|District|Council|7,500|11,925|(10,000)|9,425|
|FHDC|Primary|Careers|420|-|(250)|170|
|Think|Positive|Project|387|-|(180)|207|
|Heritage|Fund|(WW2|project)|1,161|-|(376)|785|
|46,084|19,513|(53,132)|12,465|
|||
|Total|of funds|74,618|80,340|(121,987)|32,971|
----- End of picture text -----
Page 18
Academy FM Folkestone (A company limited by guarantee)
;
Notes to the financial statements For the year ended 31 March 2024
- Purposes of funds
.
Restricted funds:
;
KCC Reconnect - Radio: The project aimed to work with 440 children and exceeded this by reaching 451 children and 19 members of teaching staff. Project reporting and information-gathering was an ongoing process during the delivery phase. All of the work that was completed during the 2022/2023 financial year.
Awards for All - Folkestone Matters: A community Journalist project. Offering local people of all ages the chance to become on-air news reporters. Delivered over 5 weeks learning from experienced local reporters, how to gather, write, read radio bulletins. Each session is 2.5 hours long. Reaching 20 people.
KCC Reconnect - Drama: Academy FM went into the Folkestone Academy and recorded Shakespeare’s “A Midsummers Night's dream” along with original works with three primary schools where we created and recorded radio plays where all who took part learnt about radio, drama and sound effects.
We are Folkestone: A major part of this project was a series of ‘Folkestone Talks' events, where young people in all the Turner schools met people from the local community and interviewed them in person (not for broadcast). Academy FM was commissioned by Katy Tibbles from Turner Schools to help organise the project and book guests, and this work was delivered by Project Leader Helen Sharp.
KCF Creative Careers: Academy FM Folkestone worked with young people aged 14+ (school Year 10 upwards) and introduced them to people working in the creative industries, to inspire their career pathways.
Little Cheyne Wind Farm Fund (WW2 Project): This is part-funding for a project funded largely by the Heritage Lottery Fund. The project raises awareness of the Folkestone area's World War 2 heritage.
Folkestone & Hythe District Council: Funding to support Academy FM's core work as a Community Radio station working with young people and supporting community activities and the town’s regeneration.
FHDC Primary Careers: A careers-education project aimed at primary-age children, working in schools in urban and rural settings in the District. Funded by Folkestone & Hythe District Council.
Think Positive Project: A project funded primarily by the Kent Community Foundation, with a secondary contribution by Cllr Ewart-James of Folkestone & Hythe District Council.
Heritage Fund (WW2 Project): A project delivered 2018-2020, with some continuing activity in maintaining the project’s website. The project aimed to educate young people about Folkestone’s World War 2 history.
Pamela Champion: To provide charitable donations to registered charities mainly in Surrey and Kent.
Page 19
Academy FM Folkestone (A company limited by guarantee)
:
Notes to the financial statements
For the year ended 31 March 2024
15. Analysis of net assets: between funds
Analysis of net assets between funds - current period
| Restricted | Unrestricted | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2024 | 2024 | 2024 | |
| £ | £ | £ | |
| Tangible fixed assets | - | 207 | 207 |
| Current assets | 4,604 | 16,600 | 21,204 |
| Creditors due within one year | - | (3,513) | (3,513) |
| Total | 4,604 | 13,294 | 17,898 |
| Analysis of net assets between funds - prior period | |||
| Restricted | Unrestricted | Total | |
| funds | funds | funds | |
| 2023 | 2023 | 2023 | |
| £ | £ | £ | |
| Tangible fixed assets | - | 142 | 142 |
| Current assets | 12,465 | 24,940 | 37,405 |
| Creditors due within one year | - | (4,576) | (4,576) |
| Total | 12,465 | 20,506 | 32,971 |
16. Related party transactions
There have been no related party transactions in the year (2023 - none).
17. Controlling party
There is no ultimate controlling party. The Charity is controlled by its Board of Trustees.
Page 20