Charity registration number 1137249 (England and Wales) Company registration number 06854360 ACADEMY FM THANET ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
ACADEMY FM THANET LEGAL AND ADMINISTRATIVE INFORMATION Trustses Mr V Todd MrCJWest Mr D Foley Mr G Coslain Mr J R Lawson Charlty number 1137249 Company number 06854360 Registsred office The Royal Harbour Academy Upper Sile Marlowe Way Ramsgale CT12 6FA Independent examlner Mark Hurdman BA (Hons) FCA 3 Lloyd Road Broadstairs Kent CT10 1HY
ACADEMY FM THANET CONTENTS Page Truslees, report Independent examiner's report Statement of financial activities Balance she81 Notes to the financial stalemenl$ 6-11
ACADEMY FM THANET TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The trustees present their annual report and financial slatements for the year ended 31 March 2025. The financial statements have been prepared in accordance with the accounting policie5 set out in nole 1 to Ihe financial statements and comply with the charity's governing document, the Companies Act 2006 and "Accounting and Reportin9 by Charities.. Slalemenl of Recommended Practice applicable to ¢harilies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019}. Objectives and actlvltles A. POLICIES AND OBJECTIVES The charity operates a community radio station, based at the school premises of Royal HarbouT Academy in Ramsgale, Kent. The station was launched in April 2010. The objectives of the charity are lo improve student education and broaden the experien¢e of the sludents who woTk with the station manager and lo develop stronger links to the communities which it senies. Studenls are closely involved in all aspects of the station's activities. On 4 August 2010, Academy FM Thanet became a registered charity. Publlc beneflt The trustees have considered the impact of the public benèfit requirement in¢luding the guidance issued by the Charities Commission. The charity aims lo actively advance the education of the Royal Harbour Academy students and inhabilanls of the Thanet area. . VOLUNTEERS The staff and volunteers of the station woTk closely with students of the Academy and wilh other $¢hools to improve student education and broaden the experience of the sludents. The Iruslees of Ihe charity would like to place on re¢ord their appreciation of its supporters who provided the necessary funding to enable the station to continue lo operate. Achlevements and perfomiance Significant activities and 8chievem9nls against objectives The charity has continued to build on its strengths of engaging with the local community and has advanced its listener base and the education of students at Ihe Royal Harbour Academy. Financial revlew A. RESERVES POLICY The policy of the trustees is to maintain a level of reserves that will be adequate to provide a stable base for the continuing operation of the charity whilst ensuring that excessive funds are not accumulated. In common with many other small charities. Academy FM Thanet is dependent on conlinuing donations from ils supporters to enable it to continue ils operations. The nel assets as al 31 March 2025 amounted to £20,954 (2024- £13,236). . SURPLUS The charity realised a profil of £7.718 {2024 - £446) during the year and ended the year with a cash balance of £19,58612024- £11,315). ReseThes policy It is the policy of the charity that unreslricled funds which have not been designated for a specific use should be maintained at a level equivalent to beeen three and Six month's expenditure. The Irustees consider Ihal reserves al this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given lo ways in which additional funds may be raised. This level of resefves has been maintained Ihroughoul the year.
ACADEMY FM THANET TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Structure, govemance and managomènt A. CONSTITUTION The company is registered as a chaTilable company limited by guarantee and was set up by a Irust deed dated 20 March 2009. The company is a registered Charity number 1137249. The Charity's memorandum and articles of associalion are the primary governing documenls. The trustees meet as often as is required lo lake decisions affecting the operation of the charity bul al a minimum of Iwice a year. . METHOD 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 radio station premises. The trustees of the charity are as listed previously. C. POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF TRUSTEES Although no specifi¢ trustee training programme exists, most of the Irustees continue to have considerable exposure to educational or charitable matters. D. RISK MANAGEMENT The trustees have examined the major risks which the charrty faces and have pul in place systems, policies, procedures and controls in order to manage and mitigale these risks. Appropriate insurances are in pla¢e. The ¢harily is organised with direc1015 and members of the management committee meeting regularly lo manage ils affairs. Mth&re appropriale, the trustees will act only after laking appropriate professional advice. Plans for future perfods During the coming year the charity will seek to develop and further its links to the local community and its student educational activities. The truslees, report was approved by the Board of Trustees. Mr V Todd Trustee Dale..
ACADEMY FM THANET INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ACADEMY FM THANET I report lo the trustees on my examination of the finan¢ial statements of Academy FM Thanet {Ihe charity) for the year ended 31 March 2025. Responsibilities and ba$ls of report As the trustees of the charity land also rts direclors for the purposes of company law), you are responsible for the preparation of Ihe financial statements in accordance wilh the requirements of Ihe Companies Acl 2006. Having satisfied myself that the financial statements of Ihe ¢harity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respecl of my examination of the charity'5 financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Dire¢lions given by the Charity Commission under se¢lion 14515llbl of the Charities Act 2011. Indopendenl examln•rfs statement I have completed my examination. I confirm that no matters have come to my attention in Connection wilh the examination giving me cause to believe that in any material respect.. accountin9 records were nol k8PI in respect of the charity as required by section 386 of the Companies Act 2006. Ihe financial slalemenls do not accord with those records,. or the financial slalements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any reqLtirement that the financial statements give a true and fair view, which is ncl a matter considered as part of an independent examination,. or Ihe financial statements have nol been prepared in accordance with the methods and principles of the Slalemenl of Recommended Practice for accounting and reporting by charities applicable to charities preparing their financial slalements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102}. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in o der to enable a proper understanding of the financial statements lo be reached. Mark Hurdman BA (Hons) FCA Independent examiner 3 Lloyd Road Broadstairs Kent CT10 1HY Dated..
ACADEMY FM THANET STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITUREACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrestrlcted funds 2025 Unrestricted funds 2024 Notes Income from: Donations and legacies Charitable activities 18,273 31,257 12,171 33,522 Total income 49,530 45,693 Charilable activities 41,812 45,247 Nèt Income and movement In fund8 7,718 446 Reconclllatlon of funds: Fund balances at 1 April 2024 13,236 12,790 Fund balances at 31 March 2025 20,954 13,236 The 51alement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from ¢onlinuing aclivilies.
ACADEMY FM THANET BALANCE SHEET AS AT31 MARCH 2025 2025 2024 Notes Flxed assets Tangible assels 10 1.574 2,099 Current assets Debtors Cash at bank and in hand 11 1,856 19,586 1.646 11.315 21,442 12.981 Creditors: amount8 falllng due wlthln one year 12 (2,062) (1,824) Net Current assets 19,380 11,137 Total assets less current Ilablllties 20.954 13,236 The funds of the charlty Unre51ri¢led funds 13 20,954 13,236 20,954 13,236 The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2025. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The members have not required the company to obtain an audit of ils financial statements for the year in question in accordance with section 476. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the trustees on ......................... Mr V Todd Trustee Company regislralion number 06854360 {England and Wale51
ACADEMY FM THANET NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies Charity inforniation A¢ademy FM Thanet is a private company limited by guaranlee in¢orporated in England and Wales. The regislered office is The Royal Harbour Academy Upper Site, Marlowe Way. Ramsgale, CT12 6FA. The charity is a public benefit entity. 1.1 A¢countlng conventlon The finan¢ial statements have been prepared in accordance with the Charity's governing document, the Companies Acl 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charilies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" The charity is a Public Benefit Enlily as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of Cash Ilows. The financial statements are prepared in slerling, which 1$ the functional currency of the charity. Monetary amounls in Ihese financial statements are rounded lo the nearesl £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 1.2 Golng concern Al the lime of approving the financial statements. the Iruslèes have a reasonable expectation Ihat the charity has adequate resources to continue in operational existence for the foreseeable fulure. Thus Ihe trustees onlinue lo adopl the going concern basis of accounting in preparing the financial slatements. 1.3 Charltable funds Unrestricted funds are available for use al the discretion of the trustees in furtheran of their charitable objectives. Restricted funds are subject lo specific conditions by donors or grantors as lo how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial stalemenls. Endowmenl funds are subject to specific conditions by donors thal the capital musl be maintained by the charity. 1.4 Income Income is recognised when the charity is legally entitled lo il after any performance condrtions have been met, the amounts can be measured reliably, and it is probable that income will bè received. Cash donations are recognised on receipt. Other donations are ie¢ognised once the charity has been notified of the donation, unless performance conditions require deferral of the amounl. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the lime of Ihe donation. Legacies afe recognised on receipt or OtheIse 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.
ACADEMY FM THANET NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting pollcies {ContJnued) 1.5 Expenditure Expenditure is recognised once there is a legal or constructive obligation lo transfer economi¢ benefit to third party. it is probable that a Iransfer of economi¢ benefils will be required in settlement, and Ihe amount of the obligalion can be measured reliably. Expenditure is classified by activity. The cosls of each activity are made up of the total of dired costs and shared Gosls, including SLlPPQrt costs involved in undertaking each aclivily. Direct Costs attribulable lo a single aclivity are allocated directly lo that activity. Shared costs which contribute lo more than one activity and SLSPPOrt costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resou[s. Central staff costs are allocated on the basis of time spent. and depreciation charges are allocated on the portion of the asset's use. 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so a5 to write off the cost or valuation of assets lass their residual values over their useful lives on the following bases.. Leasehold land and buildings Equipment 10OA straight line 250/0 reducing balance The gain or loss arising on the disposal of an asset is delerrnined as the difference belween the sale proceeds and the carrying value of the assèt. and is recognised in the statement of financial activities. 1.7 Impairment of fixed assets Al each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indi¢alion that those assets have suffered an impairment Ioss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss lif any). 1.8 Cash and cash equlvalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments wilh original maturities of three months or less. and bank overdrafts. Bank overdrafls are shown wrthin borrowings in current liabilities. 1.9 Financial instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instrumenls, and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of ils financial instruments. Financial instrLtments are recognised in the charity's balance sheet when Ihe charity becomes party lo the contractual provisions of the instrument. Financial assels and liabilitie5 are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right lo sel off the recognised amounts and there is an intention lo settle on a nel basis or to realise th8 assel and settle the liability simultaneously. Basic financlal assets Basic financial as5els, which include debtors and cash and bank balances, are initially measured at transaction price including transaction cosls and are subsequently carried at amortised cost using the effective interest method unless the arrangemenl constitutes a financing iransaction, where the transaction is measured at the present value of the future receipts discounted at a market rale of interest. Financial assets classified as receivable within one year are not amortised.
ACADEMY FM THANET NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accountlng poli¢ie$ (Contlnuedl Baslc finanelal Ilabllitles Basic financial liabililies, including credilors and bank loans are initially recognised al transaction price unless the arrangement conslitules a financing transaction, where the debt instrument is measured al the present value of the future payments discounted at a market rale of inleresl. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using Ihe effective interest rale method. Trade creditors are obligations to pay for goods or services thal have been acquired in the ordinary Course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not. they are presented as non-currenl liabilities. Trade creditors are recognised initially al transaction price and subsequently measured at amortised cost using the effe¢live interest method. Derecognltlon of flnanclal Ilabilftles Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 1.10 Employee benefits The cost of any unused holiday enlitlemenl is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably commilled to terminate the employment of an employee or lo provide termination benefits. Crlllcal accountlng estlmates and Judgements In the application of the Charity's accounting policies, the trustees are required to mak8 judgements. èstimates and assumptions about the carrying amount of assels and liabilities that are not readily apparent from other sources. The eslimales and associated assumptions are based on historical experience and other factors that are Considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions lo accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affecls both currenl and future periods. Income from donatlons and legacles Unrestricted Unrestrictsd funds funds 2025 2024 Donations and 9ifts Membership fees 16,783 1,490 9,971 2,200 18,273 12,171
ACADEMY FM THANET NOTES TO THE FINANCIAL STATEMENTS (CONTINUED> FOR THE YEAR ENDED 31 MARCH 2025 Income from charitsble activities Unre$trlcted funds 2025 Unrestricted funds 2024 Donantion8 Donations Sponsorships 12,934 18,323 16,254 17.268 31,257 33,522 Expendlture on charltable actlvitles Expenses 2026 Expenses 2024 Dlre¢l ¢osts Purchases Light & heat Repairs & maintenance Insurance Vehicle leasinglhire Other motorAravel costs Professional fees Telephone Depreciation Advertising Other charitable expenditure 705 3,266 1,840 1,890 386 1,626 5,879 931 525 492 24.472 581 1,881 4,016 1,927 665 962 5,990 284 699 1,222 27,020 41,812 45,247 Analysls by fund Unrestricted funds 41.812 45,247 Net movement In funds 2025 2024 The net movement in funds is stated after chargingl{crediting)'. Fees payable for the independent examination of the charivs financial statements 1,038 990
ACADEMY FM THANET NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Trustees None of Ihe trustees (or any persons connected with them} re¢eived any remuneration or benefits from the charity during the year, with the exception of Christopher West who received £4,559 for services provided. Employees The average monthly number of employees during the year was: 2025 Number 2024 Number There were no employees whose annual remuneralion was more than £60,000. Taxatlon The charily is exempt from laxalion on its activities because all its income is applied for charilable purposes. 10 Tanglble fixèd assets L••$ghold land and bulldlngs Equlpm•nt Totsl Cost At 1 April 2024 6,460 53,811 60.271 At 31 March 2025 6,460 53,811 60,271 Depreciatlon and Impalrment Al 1 April 2024 Depreciation charged in the year 6,460 51,712 525 58,172 525 Al 31 Mai¢h 2025 6,460 52,237 58,697 Carrylng amount Al 31 March 2025 1,574 1,574 Al 31 March 2024 2,099 2,099 11 Debtors 2025 2024 Amounts falling due within one year: Trade debtors 1,856 1,646 10-
ACADEMY FM THANET NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 12 Creditors: amounts falllng due wlthin one year 2025 2024 Other ¢reditors 2.062 1,824 13 Unrestricted funds The unrestricted fund5 of the charity comprise the unexpended balances of donations and granls which are not subject lo specific conditions by donors and grantors as lo how they may be used. These include designated funds which have been set aside out of unrestricted funds by the Iruslees for specific purposes. At 1 Aprll 2024 Incoming Re8ources At 31 March resources expended 2025 General funds 13,236 49,530 (41,812) 20.954 Prevlous year: At 1 Aprll 2023 Incoming Resourcos At 31 March resources expended 2024 General funds 12,790 45,693 (45.247) 13.236 14 Relatsd party tran$8¢tlon8 The only related party transactions for the year are the amounts received by Christopher Wesl lotalling £4,559 for the year, for services provided to the charity.12024 - none). 11