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← Winchester Radio

2023-12-31-accounts

•.WINCHESTER FM LJ RAD1094.7 DAB• ONLINE WINCHESTER RADIO A Charitable Incorporated Organisation registered in England and Wales, no. 1160752 Trustees. Annual Report and Accounts 2023 'Local media organisations play a vital role in bridging divides, fostering understandingi and promoting community cohesion. Policymakers, it's time to prioritise investment in civic and community media to strengthen social bonds in our communities. Dr. Rob Watson

Trustees' Annual Report & Accounts 2023

Winchester Radio

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So great to have you back! Thank you for your input, year after year - the race wouldn't be the same without you! Clarendon Marathon organising team

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Winchester Radio volunteers at the Clarendon Marathon.

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Alex Whitfield (left), CEO of Hampshire Hospitals, being interviewed by Anna

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Mary Blaxland interviews Olympian Adam Peaty.

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(left to right) Nigel Dallard, Sarah Cragg and Paul Blitz with their Long Service certificates for 35, 20, and 40 years respectively volunteering with Winchester Radio.

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Nigel Dallard (with Bruno) and Tony Knight at the Car Boot Sale.

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Thank you for joining us! A fantastic evening spent with amazing people and charities. Hampshire Chamber of Commerce

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Trustees' Annual Report & Accounts 2023

Winchester Radio

The Trustees present their Report and Accounts for the year ended 31[st] December 2023. The accounts have been prepared in accordance with the accounting policies set out in Note 1 to the accounts, and comply with the charity's Governing Document, the Charities Act 2011, 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) Second Edition (effective 1 January 2019)".

The Trustees have considered their duties in accordance with the Charity Commission's regulations. The review of activities and achievements is contained below, and the Trustees believe that it gives a true record of the work the charity has done in fulfilling its charitable purposes for public benefit.

The Trustees believe they have complied with their duty, contained in Section 4 of the Charities Act 2011, to have due regard to public benefit guidance published by the Charity Commission.

Organisation

Winchester Radio is a Charitable Incorporated Organisation registered in England and Wales on 4[th] March 2015 and governed by a constitution signed on 26[th] November 2014. It merged with Winchester Hospitals Radio (WHR) in December 2015, and took over the provision of the hospital radio service at the Royal Hampshire County Hospital in Winchester. On 24[th] March 2019, the charity launched its new health and wellbeing community radio service, specifically for older people living in and around the Winchester area, broadcasting on 94.7FM (and covering a potential audience of around 60,000 people), and online via its website, the UK Radioplayer app, and a "skill" enabling listeners to ask "Alexa" to "play Winchester Radio". From October 2022 until November 2023 (when the network operator was liquidated), the service was also available on DAB Digital Radio via the Winchester Small-Scale DAB network, providing coverage to a somewhat larger area around Winchester, including Alresford, and increasing our total potential broadcast audience to approximately 77, 000 people (the DAB service was restored in February 2024, following the transfer of the licence to operate the network to another operator see later).

Winchester Radio is managed by the Charity Trustees, the majority of whom are elected by the membership. New Trustees receive a Trustee pack, which includes Charity Commission guidance on their role and responsibilities, and induction training during their first 6 months in office.

Throughout the year, Winchester Radio continued to operate with almost no paid staff, being run by a membership of volunteers. Winchester Radio has always benefited from having a diverse and intergenerational team of volunteers during 2023, the service was delivered by a team of around 23 volunteers, ranging in age from 23 to 85.

Charitable Objects

Winchester Radio has two objects:

  1. "the relief of sickness, poor health and old age amongst people living in the area served by the Hampshire Hospitals NHS Foundation Trust or its successors by providing a local broadcasting service for hospitals, residential homes and similar institutions, and for patients receiving community care; and

  2. "the advancement of health and prevention or relief of sickness for the public benefit through the promotion of the benefits of living a healthy lifestyle, and the importance of maintaining good personal mental and physical health by (mainly, but not exclusively) the means of broadcasting health education messages to people living in the area served by the Hampshire Hospitals NHS Foundation Trust or its successors."

These objects are based on the model wording agreed between the Hospital Broadcasting Association (HBA) and the Charity Commission.

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Winchester Radio

Winchester Radio provides a hospital radio service to patients at the Royal Hampshire County Hospital (RHCH) via the bedside entertainment system in furtherance of the first object.

It is in furtherance of the second object that Winchester Radio has launched its community radio service for the local population outside the hospital (primarily those aged over 50), with the intent of helping and encouraging them to live a healthy and active life in the local community, and thus requiring them to make less use of the health services.

Related Organisations

Winchester Radio is proud to be a member of a number of support organisations for the voluntary sector, and wish to extend our thanks and appreciation to them for the news and information they offer throughout the year.

Winchester Radio is a member of the Hospital Broadcasting Association (HBA), the national charity that supports and promotes hospital, health and wellbeing broadcasting in the UK; the Community Media Association (CMA), the organisation which supports and advocates for community media, and the UK Community Radio Network (UKCRN), which supports and advocates specifically for Ofcom-licensed community radio stations. Our members regularly participate in the national conferences and training events organised by the HBA, CMA, and UKCRN. Winchester Radio is also a member of the National Council for Voluntary Organisations (NCVO).

Locally, Winchester Radio is a member of Community First, one of the local Councils for Voluntary Service, and HIVCA, the Hampshire & Isle of Wight VCSE Health & Care Alliance, an emerging collaboration between VCSE organisations across Hampshire (including Portsmouth and Southampton) and the Isle of Wight, established to facilitate the integration of the VCSE sector with the NHS Hampshire and Isle of Wight Integrated Care System.

Winchester throughout the reporting period. She also represents Winchester Radio on a number of local community and volunteer-sector leaders' groups, health forums and busines the Hampshire & Isle of Wight Social Prescribing Network; the Hampshire & Isle of Wight VCSE Health & Care Alliance; the Hampshire & Isle of Wight ICS's Winchester Health and Wellbeing Community Forum; and attends networking events/meetings organised through the year by Winchester BID and the University of Winchester. Winchester Radio's Treasurer continued in his role as one of HBA's Trustees throughout the reporting year. Being part of such networks helps Winchester Radio keep up-to-date on developments across all the sectors we operate in, encourages collaboration and sharing of best practice, and most importantly of all, it highlights the issues affecting people we support. This in turn means we can ensure our programming includes coverage of these issues and signposting to appropriate support, and that our community outreach work meeting older people helps raise awareness of how our service can help them keep connected, and promote positive ageing.

Hampshire Hospitals NHS Foundation Trust (HHFT) manages the RHCH, where Winchester service. The RHCH is one of three hospitals managed by the Trust. Winchester Radio's Chair liaises throughout the year with members of HHFT's Senior Management Team, and does broadcast interviews with members of the Board and clinical staff, often to tie in with local events or current health campaigns.

Winchester Radio depends upon the services of Hospedia Ltd, the company that owns and runs the bedside entertainment system through which its programmes are delivered to patients at the RHCH.

Winchester Radio also depends on the operator of the Winchester Small-Scale DAB network. That was UK DAB Networks (Operations) Ltd until it went into liquidation in November 2023, with the network being taken off-air, resulting in a loss of DAB coverage from that date. Following these developments, a new company, Winchester DAB Ltd, was created to acquire the licence and re-commence DAB transmissions. This was achieved in

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February 2024. Winchester Radio's Treasurer became a non-executive director of Winchester DAB Ltd in December 2023.

Review of Activities and Achievements

Programming aims

Winchester Radio's aim is that our service:

  1. helps and encourages listeners to live a healthy, active, independent life, engaged in the social life of the local community; and

  2. where this isn't possible (for example due to ill-health), to help reduce boredom and social isolation by playing a great selection of music and keeping listeners in touch with what is happening locally;

with the ultimate aim of improving the quality of people's lives as they get older, and thus reducing the need for support from the local health and care services.

Key commitments written into the Ofcom FM community radio licence require that

Winchester Radio provides a service:

consisting of:

The licence required a minimum of 70 hours per week of original output (output that is first produced for and transmitted by Winchester Radio). In September 2023, the Trustees submitted a request to Ofcom to reduce this commitment to 56 hours/week aligning with the original hours commitment of many other community radio stations. This request was approved by Ofcom on 30[th] October 2023.

We aim to provide a mix of music and information tailored to the needs and interests of the older generation in Winchester who are under-served by other local radio stations. Our music mix is distinctive, and our hyper-local focus on Winchester and the immediately surrounding villages is unique in this area and, we believe, highly appealing. Having attracted our audience, we then use behavioural economics ("nudge theory") to subtly encourage listeners to make the best lifestyle choices for their own health and wellbeing. We tell them about:

and encourage listeners to get involved.

Programme and Community Engagement

Winchester Radio delivered an average of 83 hours of original hours of programme output per week, using an average of 255 volunteer hours per week, throughout 2023, in line with our Key Commitments to Ofcom, as outlined above. Whilst Winchester Radio was

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still not permitted back on the wards of the RHCH to visit patients in person for much of 2023, due to continuing high numbers of in-patients very poorly with Covid-19 and many isolation bays in operation, we still received music requests through from patients at the hospital via phone-calls and emails. Our befriending volunteers continued to visit community groups and be present at community events in the city and collect music requests for programmes. Thankfully the Covid-19 infection-rate eased towards the end of the year and our volunteers were, once again, allowed back by Hampshire Hospitals onto the wards to visit patients after completing some refresher training and with new agreed protocols in place post-pandemic.

During 2023, we let our listeners know about hundreds of local grassroots charities, sports clubs and support groups, by sharing details of activities people could get involved with, free taster sessions available locally, and opportunities to connect with others. We covered health Awareness Days and campaigns throughout the year, did hundreds of interviews and attended dozens of local events throughout the year. Here is a flavour of just some of what listeners could hear about on Winchester Radio in 2023:

We also gave editorial coverage to organisations with significant anniversaries in 2023 and how they support people. We were proud to broadcast a syndicated programme with Ken Bruce, Patron of the Hospital Broadcasting Association on Going back to the start - an hour-long special looking at the world of hospital radio, broadcast around the time of the NHS's 75th birthday, to highlight the value of volunteers from hospital radio stations and how they support both patients and the NHS. Locally we were in attendance with the Royal Logistic Corps celebrating their 30[th] anniversary when their Colonel-in-Chief, the Princess Royal, visited Winchester, and they were given the freedom of the city. We also spoke to local business Rawlings Opticians, celebrating 100 years in the city; and charity The Samaritans, marking its 70th anniversary during the year.

2023 saw Winchester Radio volunteers out and about in the community as more-and-more face-to-face activities returned to the city, post-pandemic. Thanks to the earlier fundraising efforts of volunteer Ron Venturi, we had the funding for a new branded gazebo to replace our plain one that was 20+ years old! The team had a presence at a number of events including festivals, voluntary sector market-stall events, and health and wellbeing fairs, plus the new Bto3 Opportunity Expo and Skills Exchange event put on by the Hampshire Chamber of Commerce. These events gave us the opportunity to raise awareness of Winchester Radio service, and highlight how we help people keep connected, and to be able to share support information with people visiting our stand.

It was great to be able to meet members of the public face-to-face again at so many community gatherings in and around the Winchester area, and to do interviews with local people running groups, but also to get views from members of the public on topics of

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interest in the year,

where we were out-and-about at local street parties, and at Winchester Cathedral, where the ceremony was being shown, live-streamed from London. Another highlight of the year about which we also spoke to locals who were caught up in football fever.

The station continued to keep our audience aware of local developments including the new, bigger St. Clements Surgery being built in the city-centre, and the Station Approach and Central Winchester Regeneration projects. The latter included some community archaeological digs and tours in central Winchester run by Pre-Construct Archaeology which we also attended and covered on-air, and it was great to meet people there who had heard about the digs through our pre-event coverage on-air.

In 2023 Winchester Radio volunteers met some incredibly inspiring people in the community, doing amazing things, and who were much appreciated for it. few of the local stories from some of extraordinary people we met and shared on-air:

Local academic establishments, businesses, charities, churches and civic bodies all featured on our airwaves throughout the year, and regular calendar events in Winchester for the community, such as those around Easter, Armed Forces Week, Remembrance Sunday, and Christmas were featured. The charity continued to signpost people to support services, including activities from Christians Against Poverty, the Winchester Basics Bank and a number of other local community schemes running over the school holidays to help churches to help those struggling financially or through isolation. A number of the local church ministers also helped with Reflections for us to broadcast to our audience through Christmas. And our team recorded a number of Christmas Carol Concerts, as well as again broadcasting Winchester Hospice's Light Up A Life service in memory of those loved ones lost. Our News Editor Mary Blaxland, did an amazing amount of community engagement throughout the year, meeting and interviewing people for our weekly Winchester Now news programme including Olympian Adam Peaty, inspiring young people into sport, and before Christmas joining Kings Worthy Primary School children bringing festive cheer to residents at the Dower House Care Home.

A worrying phone call we took at the station during 2023 was from the father of a young man who had gone missing after attending the Boomtown Festival near Winchester. We were very quick to get an appeal on-air to help find him, and our social media post asking for help was kindly shared 467 times. Happily, he was found a few days later and his family were full of praise and gratitude to Winchester Radio and our listeners for help finding him. Another example of the way Winchester Radio makes a positive impact in the community, and how our caring and community-

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Winchester Radio

Feedback and Recognition of our Volunteer-led Efforts

The Winchester Radio team delivering the service are all volunteers, giving their time and efforts, and sharing their skills and knowledge, for free. Many do Winchester Radio volunteering every single day, and a number of the team are also engaged in other charitable activities and groups locally too.

It really means a lot when listeners get in touch to say how much they appreciate our service; when volunteers moving on give thanks for the experience and opportunities they have had with the charity, whilst helping others; and when staff from other organisations getting publicity on-air for their causes and upcoming events, take the time and trouble to say thank you . Here are just some of the messages of gratitude we had through the year:

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----- Start of picture text -----
It's very nice to have a radio channel dedicated to Winchester and thank you to
all the volunteers who must spend a lot of time compiling their programmes. I
"I've been listening to you for a couple of weeks now and I can only give praises
from me.
So great to have you back! Thank you for your input, year after year - the race
wouldn't be the same without you!
Top marks to you at Winchester Radio as good as it gets and right in the heart
of our community.
Thank you so much for coming to our event. It was wonderful to have you there."
Brilliant community radio station and you play some great stuff."
Thank you to Winchester Radio for sharing Katie's story and helping raise
awareness of retinoblastoma, a rare eye cancer found in children. We are very
proud of Katie!
Thank you for joining us! A fantastic evening spent with amazing people and
charities.
Thank you, Winchester Radio, for helping us grow .
Thanks to Winchester Radio for attending the recent Read Easy graduation
celebration in order to interview some of our readers. We are dedicated to helping
adults who wish to improve their reading skills. Your help in supporting and
publicising our charity is much appreciated.
nks so much for your support.
Well done Anna and Winchester Radio for showing your professionalism (and that
deserves.
Thanks for all you do for Winchester
"Can I say I've really appreciated how well the trustees manage & organise
Winchester Radio. The facilities are really good, not only in the studio but also
access on-line via Myriad and other systems. The guidance has always been clear
and helpful. And although I've worked with several other radio stations over the
years, I've learnt a lot in my three years with you. I have enjoyed it and hopefully
I've made a useful and significant contribution to the station and of course, our
listeners.
You do a great job at Winchester Radio!
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Winchester Radio

I love listening to Winchester Radio as I'm going around the city. I think it is great we have got our own local radio station and I'd encourage more people to listen to it. Some of the tunes are obviously from my era and I love the fact it is just so lovely and local and shares community information. It is lovely that it is our radio station.

Thanks so much for mentioning me and playing two lovely Chris de Burgh songs - of course, Lady in Red is a firm favourite. It was good to chat with you I really enjoy Winchester Radio.

Awards

In 2023, Winchester Radio won Silver in two categories of the National Hospital Radio Awards:

This entry really captured the excitement and joy of the day and produced some really great radio. Well worth a second listen.

We loved this entry, which included great voices truly fantastic story-telling and real warmth for those involved and for those listening.

Three of our volunteers were also presented with Long Service Awards when they attended the National Conference of the Hospital Broadcasting Association in Bolton: Paul Blitz for 40 years, Nigel Dallard for 35 years, and Sarah Cragg for 20 years.

FM licence extension

In May, we had confirmation from Ofcom that our application to extend our FM community radio broadcasting licence had been successful. The initial 5-year licence period was due to expire in March 2024, but has now been extended until March 2029.

DAB broadcasting

As noted above, UK DAB Networks, which operated the Winchester Small-Scale DAB Network, through which Winchester Radio obtained its DAB digital radio coverage, was liquidated on 24[th] November 2023, taking the network off-air, and thus removing Winchester Radio's DAB coverage. A collaborative effort from a number of the community radio stations affected, including Winchester Radio, together with some enthusiastic individuals who were able to invest some capital, resulted in a new company, Winchester DAB Ltd, being created to apply to Ofcom to take over the licence. This application was successful and, following a public consultation necessitated by the change in coverage due to new transmission arrangements, the DAB network resumed broadcasting on 8[th] February 2024.

Studio relocation

We are thankful to Hampshire Hospitals NHS Foundation Trust for their ongoing support for what we do, and for continuing to provide us with free accommodation, worth almost £8,500 per year. We were informed by the Senior Management in May 2022 that the planned relocation of our studio to Level A of Burrell Wing was not going to be possible, due to redevelopment plans including a new elective orthopaedic hub. Whilst the hospital management were adamant that they would continue to accommodate Winchester Radio, the proposed location of our studio remained uncertain until September 2023, with the viability of the final proposed location in Ashley Wing remaining uncertain well into 2024.

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The studio relocation project has put enormous demands on the Trustees, with literally hundreds of person hours being spent in meetings with NHS Trust project management and estates staff, and/or their consultants, answering questions from these staff, or undertaking research towards, and developing studio layouts to prove the viability, or otherwise of options presented to us. This has had a material impact on the running of the charity during the reporting year, as less effort has been available to recruit and train new volunteers, to raise the profile of the charity, and to develop a sustainable business plan.

At the time of writing, Winchester Radio has recently relocated into Ashley Wing, and is in the process of fitting-out studios, with presenters currently broadcasting either from home, or from a temporary studio set-up whilst the new custom studio desks are built and equipment installed.

Generating earned income

In March 2022, Winchester Radio received funding from the DCMS-funded, Ofcomadministered Community Radio Fund to employ a Community Business Development Manager to help grow earned-income and reduce the dependence of the charity on grant funding. Unfortunately, the individual initially recruited found that they had overcommitted themselves alongside other commitments, and left after only 2 months. After reflecting on lessons to be learned, the Trustees approached Ofcom to vary the terms of the grant, to allow the employment of another Community Business Development Manager for a further 12 months, but with reduced hours/week. This was agreed and, following another recruitment process, the new employee started work in May 2023.

By the end of the year, a significant amount of research and background work had been undertaken, but it was becoming clear that growing Winchester Radio's earned income was not going to be easy, even with the resources of a paid employee. Selling commercial advertising is proving very difficult, and whilst revenue has increased, not by anything like the amount necessary to sustain the Community Business Development Manager as a paid position. Whilst positive conversations have been held with both Winchester City Council and Hampshire County Council about funding programmes and/or editorial features, it is evident that the cogs in the machinery of local government turn very slowly.

Acknowledgements

All Winchester Radio's activities have only been possible through the sterling efforts of a dedicated team of around 23 regular volunteers, supplemented by a number of additional volunteers providing ad-hoc support, putting in literally thousands of hours of effort, and we'd like to take this opportunity to thank them for their continued time, energy and commitment throughout an intensely busy and very challenging year.

Overall, we conservatively estimate that the volunteer team has given over 13,250 hours of their time to the charity during the year. Using the standard Ofcom volunteer rates , this is worth approximately £192,000.

Small charities such as Winchester Radio do not have the financial means to spend funds on professional services, cloud-based IT systems and advertising, so we are incredibly grateful that many businesses, large and small, have supported us during 2023.

We'd also like to say a huge thank you to the many individuals who have donated to Winchester Radio during 2023, and the local companies and organisations who have supported us through taking radio-advertising with us. We are very grateful to all those who champion and support charity Winchester Radio.

Financial Performance

Overall, Winchester Radio is financially sound and has significant cash reserves.

At the end of 2023, Winchester Radio had total cash reserves, in-hand and at the bank, of just under £79,000 (2022: just under £87,000), of which £12,522 (2022: £26,195) is restricted funds (roughly half of which is the Community Radio Fund grant, with most of the remainder being for the studio relocation/re-equipping).

As in previous years, there are approximately £1,200 of prepayments recorded. These relate to:

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Winchester Radio

This year the debt owed to Winchester Radio, at £2,520, consists of the Priority Outcomes Fund grant from Winchester City Council, and a Gift Aid refund, both of which were paid in January following requests for payment submitted in December. The £728 (2022: £22) of trade creditors relates to bills, payment for which (primarily by Direct Debit) was not made until January 2024. The £1,266 (2022: £1,628) of payments received on account is advertising sales for campaigns that ran partially in 2023 and partially in 2024. The £60 (2022: £60) of stock is fundraising CDs produced by the predecessor charity, Winchester Hospital Radio, and which are sold on enquiry from members of the public.

Based on the financial performance in this and the three previous years, the Trustees have confirmed their estimate that the base running costs for providing both the community and hospital radio services for a full year remains at around £7,500 - £8,000. Unlike previous years, however, the Trustees have not designated unrestricted reserves above this level as being for the studio relocation/re-equipping project, because it is believed that the existing restricted and designated funds will be more than sufficient to cover the costs of the relocation and subsequent fitting-out of the new accommodation.

Overall assets totalled just over £94,000 (2022: just over £103,000, the difference being primarily due to salary and pension payments from the Community Radio fund grant received in 2022 to our Community Business Development Manager).

Income

Total recorded income was £26,973 (2022: £49,266), consisting of £7,027 in grants, donations and other monetary gifts (2022: £32,275, including £20,933 from the Community Radio Fund), £12,947 worth of donations-in-kind (2022: £13,121), £5,566 income from trading activities (2022: £3,478) and £1,433 of bank interest (2022: £292).

Three significant grants were received during the year:

Significant donations-in-kind included:

Trading income arose from:

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Winchester Radio

two fundraising car boot sales collecting £799 (2022: £873) in sellers' pitch fees; and

a fundraising coffee morning.

The production of the commercials cost £300 (2022: £410), meaning that advertising sales brought in just under £4,200 net which, despite being more than double the previous year, was significantly less than we were hoping for having employed a Community Business Development Manager for 7 months.

The car boot sales cost just £90 (2022: £180) for licence fees from Winchester City Council as we were offered the second one at short notice and no cost due to another charity being unavailable, meaning that the events raised just over £700.

The coffee morning was held at Rick Stein's Winchester restaurant, which didn't charge for hosting the event, so the only expenditure was on a book of raffle tickets (£3), so the event raised £287 and, in addition, resulted in over £150 of the £849 of individual donations received during the year.

Expenditure

Just over £1,700 of capital expenditure was made during the year: £1567 on a branded gazebo, and £136 on a portable digital recorder (2022: £53). The gazebo was bought using a grant received specifically for this purpose just prior to the Covid pandemic.

By far the most-significant ongoing revenue expense is music copyright licensing fees, totalling over £2,659 this year (2022: £2,140). The increase is partially due to inflation, but also because of the additional licence fee for broadcasting music on DAB digital radio. This is followed by the Ofcom licences required to broadcast as a community radio station (£850 per annum for the FM licence, plus £100 per annum for the DAB licence) and insurance (£764 this year, £700 in 2022). The next two most-significant ongoing costs are the IRN news subscription, which provides us with hourly national/international news bulletins, plus access to news stories via their "Net Newsroom" facility, and the broadband internet connection.

Repairs and general engineering costs increased to £385 this year (2022: £27). The majority of this was the cost of a repair to the FM transmitter (£195), but it was also necessary to replace some batteries in two of the laptops (£48), as well as to purchase some miscellaneous small items, some of which relate to the studio relocation.

The costs of employing our Community Business Development Manager for 7 months came to just over £12,000. These costs were met from the Community Radio Fund grant received in 2022. In addition, there were recruitment costs of £315 and another £110 on a mobile phone contract. The earned income that the Community Business Development Manager role is intended to generate needs to be a mix of primary-purpose income and non-primary-purpose income, to ensure that Winchester Radio remains within the limits on charity trading. The costs of employment have, therefore been split 75/25 between expenditure on charitable activities and fundraising activities, to match the intended mix of generated income.

Banking fees include:

Wherever possible, use was made of products and services made available free-of-charge or at reduced price to charities. This includes:

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Financial Management and Reserves Policies

Winchester Radio has a Financial Management Policy which defines the controls to be implemented to ensure that the charity's assets are secure. This policy meets all the requirements of the Charities Act 2011 and the Charity Commission guidelines "Internal Financial Controls for Charities (CC8)". The policy states that unrestricted reserves should be held equivalent to a typical year's cash expenditure.

The charity and its predecessor have been slowly building up a reserve for an inevitable move and re-equipping of studios. As reported above, this relocation took place after the end of the reporting period. Whilst the NHS Trust has paid for the building works necessary to make the allocated space suitable for Winchester Radio's use, the cost of the internal fitting-out and any necessary new technical equipment falls to Winchester Radio. As the costs of this were still very-much uncertain at the end of the reporting year, the accounts show significant unrestricted reserves designated as being towards this project.

Once the final costs of the studio move are apparent, as part of a business-planning exercise that is in progress at the time of writing, it is intended to develop a financial plan that shows the return of the charity's reserves to the level set out in the policy.

Management of Major Risks

The launch of our community radio service in 2019, with the attendant significant increase in running costs, was (and remains) a significant risk to Winchester Radio. The project was approved on the basis of three major income streams, all of which have risks grant funding, commercial advertising and sponsorship, and personal donations. However, with the financial buffer afforded by the current reserves, and the accommodation issue having been resolved, the Trustees are confident that the charity has a long-term future. Grant funding-wise, the 3-year agreement with Winchester City Council, renewed in 2022, albeit at a lower level , and a long-term relationship with Winchester Rotary provides further confidence.

Towards the end of the reporting year, we were successful in our application to the Cranfield Trust for pro bono support from one of their volunteer consultants to develop a business plan for the next 3 years, to assist in getting Winchester Radio into a position where it is a more sustainable social enterprise. This work started in 2024, and has already resulted in the creation of a formal Risk Register, although overall progress has been significantly impacted by the studio relocation, and is still on-going at the time of writing.

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Trustees' Annual Report & Accounts 2023

Winchester Radio

Charity Trustees

Anna O'Brien (Chair) Paul Blitz Nigel Dallard Jeff Wearing (appointed 11 January 2024) Charity Number 1160752 (England and Wales)

Principal Address

Mailpoint MP66 Royal Hampshire County Hospital Romsey Road Winchester Hampshire SO22 5DG

Bankers

CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling ME19 4JQ

Independent Examiner

Jonathan Poulter FCA CTA Rothmans LLP Avebury House, 6 St. Peter Street, Winchester. SO23 8BN

Signed on behalf of the Trustees,

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Anna O'Brien Chair 10[th] October 2024

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Nigel Dallard Treasurer 10[th] October 2024

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Trustees' Annual Report & Accounts 2023

Winchester Radio

I report to the trustees on my examination of the accounts of Winchester Radio ("the Charity") for the year ended 31 December 2023, which are set out on pages 15 to 25.

Responsibilities and basis of report

As the charity trustees of the Charity, 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 Charity's accounts carried out under section 145 of the Act and 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 Charity as required by section 130 of the Act; or

  2. the accounts do not accord with those records.

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.

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Jonathan Poulter FCA CTA Rothmans LLP Avebury House, 6 St. Peter Street, Winchester. SO23 8BN

18/10/2024

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Trustees' Annual Report & Accounts 2023

Winchester Radio

(incorporating an Income and Expenditure Account)

Notes
2a
2b
2c
2d
3a
3b
10
Total funds carried forward
Income and Endowments from:
Expenditure on:
Net income/(expenditure) before investment
gains/(losses):
Net income/(expenditure)
Extraordinary items
Donations and legacies
Charitable activities
Other trading activities
Investments
Total Income
Raising funds
Charitable activities
Net movement in funds
Total funds brought forward
Total Expenditure
Net gains/(losses) on investments
Gains and losses on revaluation of fixed
assets for the charity's own use
Other gains/(losses)
Other recognised gains/(losses):
Reconciliation of funds:
Transfers between funds		 2023
2022
Unrestricted
funds
Restricted funds
Total funds
Total funds
£
£
£
£
19,974
-
19,974
45,496
1,275
-
1,275
-
4,291
-
4,291
3,478
1,433
-
1,433
292
26,973
-
26,973
49,266
500
3,001
3,501
1,465
23,815
9,112
32,927
28,613
24,315
12,113
36,428
30,078
2,658
(12,113)
(9,455)
19,188
-
-
-
-
2,658
(12,113)
(9,455)
19,188
-
-
-
-
1,560
(1,560)
-
-
-
-
-
-
-
-
-
-
4,218
(13,673)
(9,455)
19,188
76,876
26,195
103,071
81,094
12,522
93,616
103,071

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Trustees' Annual Report & Accounts 2023

Winchester Radio

Notes
Tangible assets
5a
Intangible assets
5b
Investments
Total fixed assets
Stock
6
Debtors
7
Investments
Cash at bank and in hand
9
Total current assets
Amounts falling due within one year
8a
Net current assets/(liabilities)
Total assets less current liabilities
Amounts falling due after one year
8b
Provision for liabilities
Total net assets or liabilities
Fixed assets:
Current assets:
Creditors:
Creditors:		 2023
2022
Unrestricted
funds
Restricted funds
Total funds
Total funds
£
£
£
£
10,027
-
10,027
11,163
2,772
-
2,772
4,183
-
-
-
-
12,799
-
12,799
15,346
60
-
60
60
3,891
-
3,891
2,368
-
-
-
-
66,338
12,522
78,860
86,947
70,289
12,522
82,811
89,375
1,994
-
1,994
1,650
68,295
12,522
80,817
87,725
81,094
12,522
93,616
103,071
-
-
-
-
-
-
-
-
81,094
12,522
93,616
103,071

Signed on behalf of the Trustees,

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Anna O'Brien Chair 10[th] October 2024

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Nigel Dallard Treasurer 10[th] October 2024

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Trustees' Annual Report & Accounts 2023

Winchester Radio

1. ACCOUNTING POLICIES

These accounts have been prepared under the historical cost convention, with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.

The accounts have been prepared in accordance with:

Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS 102) Second Edition (effective 1 January 2019);

the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102); and the Charities Act 2011.

The charity constitutes a public benefit entity as defined by FRS 102.

Income is recognised in the Statement of Financial Activities when:

the charity becomes entitled to the resources;

it is more likely than not that the Trustees will receive the resources; and

the monetary value can be measured with sufficient reliability.

ii) Offsetting

There has been no offsetting of assets and liabilities, or income and expenses, unless required by the FRS 102 SORP or FRS 102.

Grants and donations are only included in the Statement of Financial Activities when the general income recognition criteria, specified in the FRS 102 SORP, are met.

In the case of performance-related grants, income is only recognised to the extent that the charity has provided the specified goods or services, as entitlement to the grant only occurs when performance-related conditions are met.

Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of the gift, and is treated as an addition to the same fund as the initial donation unless the donor of the terms of the appeal have specified otherwise.

v) Contractual income and performance-related grants

The cost of any stock of goods donated for distribution to beneficiaries is recognised on receipt at the fair value of those gifts at the time of their receipt. In the reporting period in which the stocks are distributed, they are recognised as an expense at the carrying amount of the stocks at distribution.

Donated goods for resale are measured at fair value on initial recognition, which is the expected proceeds from the sale less any expected costs of sale, and recognised in "income from other trading activities", with the corresponding stock recognised in the balance sheet. On its sale, the value of stock is charged against "Income from other trading activities" and the proceeds from the sale also recognised as "Income from other trading activities".

Goods donated for ongoing use by the charity are recognised as fixed assets and included in the Statement of Financial Activities as incoming resources when receivable.

Gifts-in-kind for use by the charity are included in the Statement of Financial Activities as income from donations when receivable.

vii) Donated services and facilities

Donated services and facilities that are consumed immediately are recognised as income, with an equivalent amount recognised as an expense under the appropriate heading in the Statement of Financial Activities.

Membership subscriptions, which are received in the nature of a gift, are recognised in Donations and Legacies.

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Trustees' Annual Report & Accounts 2023

Winchester Radio

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(c) Expenditure and liabilities

i) Liability recognition

Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources, and the amount of the obligation can be measured with reasonable certainty.

ii) Provisions for liabilities

A liability is measured on recognition at its historical cost, and then subsequently measured at the best estimate of the amount required to settle the obligation at the reporting date.

iii) Creditors

The charity has creditors which are measured at settlement amounts less any trade discounts.

(d) Assets

i) Tangible fixed assets for use by the charity

These are capitalised if they can be used for more than one year. They are valued at cost or, if gifted, at the value to the charity on receipt.

Depreciation is calculated on a "straight line" basis at a rate to write-off the cost of tangible fixed assets over their expected useful lives. The rates applied per annum are as follows:

fixtures and fittings 10% computers & computer systems 20% portable recording equipment 20% branded gazebo & accessories 20% other electronic equipment 10% physical music library 10% ii) Intangible fixed assets y g , , y p y

identifiable and are controlled by the charity through custody or legal rights. They are valued at cost or, if gifted, as the value to the charity on receipt,

Amortisation is calculated on a "straight line" basis at a rate to write-off the cost of the intangible fixed assets over their expected useful lives. The rates applied per annum are as follows:

iii) Stocks

Stocks held for sale as part of non-charitable trade are measured at the lower of cost or net realisable value. Goods or services provided as part of a charitable activity are measured at net realisable value based on the service potential provided by items of stock.

iv) Debtors

Debtors are measured on initial recognition at settlement amount after any trade discounts. Subsequently they are measured at the cash or other consideration expected to be received.

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Trustees' Annual Report & Accounts 2023

Winchester Radio

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2. INCOME

2023
2022
Unrestricted
Restricted
funds
funds
Total funds
Total funds
(a) Donations and legacies £
£
£
£
Donations and gifts
Donations via "Amazon Smile" 23
-
23
28
Donations via "Give As You Live" 18
-
18
68
Donation from Rick Stein Winchester -
-
-
500
Other donations 849
-
849
448
Gift Aid 187
-
187
198
Legacies -
-
-
5,000
Grants (note 2e)
Winchester City Council Priority Outcomes Framework 2,520
-
2,520
2,800
Clarendon Marathon 2,000
-
2,000
2,000
Winchester & District Round Table 1,000
-
1,000
-
DCMS/Ofcom Community Radio Fund -
-
-
20,933
Membership subscriptions 430
-
430
400
Donated goods, facilities & services (note 2f)
Accommodation 8,450
-
8,450
8,450
Independent Examination of accounts 2,475
-
2,475
2,475
Google Workspace 1,200
-
1,200
1,440
VoIP phone system 576
-
576
576
Stream Hosting 180
-
180
180
Website Hosting 66
-
66
-
Total 19,974
-
19,974
45,496
(b) Charitable activities
Advertising Sales 1,275
-
1,275
-
Total 1,275
-
1,275
-
(c) Other trading activities
Advertising Sales 3,212
-
3,212
1,842
Car Boot Sales 799
-
799
873
Coffee Morning 280
-
280
286
Consulting Services -
-
-
450
CD sales -
-
-
27
Total 4,291
-
4,291
3,478
(d) Income from investments
Interest 1,433
-
1,433
292
Total 1,433
-
1,433
292

(e) Grants i) Winchester City Council Priority Outcomes Framework

This is the second year of a 3-year grant award, renewed for a second term, based on Winchester Radio's activities furthering the City Council's priorities for community development.

ii) Clarendon Marathon

This unrestricted grant was made by the organisers of the marathon (the Rotary Clubs of Salisbury and Winchester) from funds raised as a result of the 2023 event.

iii) Winchester & District Round Table

This unrestricted grant was made by the Round Table from the proceeds of their "Pedal, Paddle, Pace" event.

iv) DCMS/Ofcom Community Radio Fund

Seed funding from the Dept for Digital, Culture, Media & Sport, via the Ofcom-administered Community Radio Fund, to employ a part-time Community Business Development Manager for 12 months, to grow Winchester Radio's earned income. Following the resignation of the employee in the prior year, the terms of the grant were renegotiated allow the recruitment of another employee, again for 12 months, but on less hours/week. This employee started during the reporting period.

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Trustees' Annual Report & Accounts 2023

Winchester Radio

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(f) Donated goods, facilities & services

i) Accommodation

Hampshire Hospitals NHS Foundation Trust provides the charity with 26m[2] of accommodation free-of-charge. The Trust calculates that the cost of this accommodation is £325 /m[2] .

ii) Independent Examination of accounts

Jonathan Poulter, and previously his father John Poulter, both of Rothmans have independently examined the charity's accounts free-of-charge for a number of years.

iii) Google Workspace email/collaboration service

Google makes its Workspace Business Starter email and collaboration service available free-of-charge to UK registered charities. The normal cost is £5 per user, per month. This represents the cost of Winchester Radio purchasing an appropriate number of accounts at standard prices.

iv) VoIP Phone System

Nimvelo offers its cloud-hosted VoIP phone system free-of-charge to UK registered charities. The value of the donation is calculated based on the usual cost of the service features being used by Winchester Radio.

v) Stream Hosting

streamerr offers its internet streaming service free-of-charge to UK registered charities. The value of the donation is calculated based on the usual cost of the service features being used by Winchester Radio.

vi) Website Hosting

Umbrella Host offers its website hosting service free-of-charge to UK registered charities. The value of the donation is calculated based on the usual cost of the service features being used by Winchester Radio.

Other information

All income in the current and prior years was unrestricted except for the grant from the DCMS/Ofcom Community Radio Fund in the prior year.

3. EXPENDITURE

2023 2022
Unrestricted
Restricted
funds
funds
Total funds
Total funds
(a) Expenditure on raising funds £
£
£		 £
Cost of advertising sales 300
-		 300
410
Community Business Development Manager
Salary -
2,944
2,944
660
Pension contributions (defined contribution scheme) -
57		 57
12
Recruitment costs 79
-		 79
138
Mobile Phone 28
-		 28
49
Staging fundraising events 93
-		 93
180
CD sales -
-		 -
16
Total 500
3,001
3,501
1,465

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Trustees' Annual Report & Accounts 2023

Winchester Radio

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2023 2022
Unrestricted
Restricted
funds
funds
Total funds
Total funds
(b) Expenditure on charitable activities £
£
£		 £
Station running expenses
Music copyright licences
Community Radio 2,604
-
2,604
2,140
Hospital Radio 55
-		 55
49
Google Workspace Email & Collaboration Service 1,200
-
1,200
1,440
Ofcom Broadcasting licences 950
-		 950
941
Insurance 764
-		 764
700
VoIP telephone system 576
-		 576
586
Equipment replacements / engineering 285
100		 385
27
IRN news licence 383
-		 383
343
Broadband internet connection 333
10		 343
252
Stream hosting 180
-		 180
180
Broadcast playout system remote access licence 165
-		 165
150
TV licence 159
-		 159
159
UK Radioplayer subscription 109
-		 109
109
Local Radio Support membership 97
-		 97
22
Banking fees 74
-		 74
85
Ofcom PMSE Radiomic licence 68
-		 68
68
CMA membership fee 60
-		 60
60
HBA membership fee 50
-		 50
50
Office Consumables 28
-		 28
-
Winchester Small-Scale DAB carriage fee 13
-		 13
5
Community First membership fee 8
-		 8
8
Volunteer refreshments 5
-		 5
-
Volunteer Recruitment -
-		 -
89
Community Business Development Manager
Salary -
8,831
8,831
1,979
Pension contributions (defined contribution scheme) -
171		 171
36
Recruitment costs 236
-		 236
414
Mobile Phone 83
-		 83
149
Communications and publicity
Website/internet domain hosting 130
-		 130
58
Promotional Flyers 24
-		 24
-
Accommodation 8,450
-
8,450
8,450
Independent Examination of accounts 2,475
-
2,475
2,475
Depreciation of tangible fixed assets 2,839
-
2,839
5,835
Amortisation of intangible fixed assets 1,412
-
1,412
1,754
Total 23,815
9,112
32,927
28,613
4. PAID EMPLOYEES
(a) Staff Costs
Salaries & wages -
11,775
11,775
2,639
Pension contributions (defined contribution scheme) -
228		 228
48
Total -
12,003
12,003
2,687

No employees received employee benefits (excluding employer pension costs) for the reporting period of more than £60,000 (b) Average head count

Average number of employees

2023 2022 0.67 0.1

A single employee was employed for a total of 8 months during this year (2022:7 weeks), in a community business development role. As the purpose of the role is to generate a mix of primary purpose and non-primary purpose income, the employment costs have been allocated 75% to expenditure on charitable activities and 25% to costs of raising funds.

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Trustees' Annual Report & Accounts 2023

Winchester Radio

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(c) Redundancy payments

Total redundancy and termination payments

2023 2022 - -

5. FIXED ASSETS (a) Tangible fixed assets

Cost as at 1 January 2023
Additions
Disposals
Cost as at 31 December 2023
Depreciation as at 1 January 2023
Charge for year
Elimination on disposal
Depreciation as at 31 December 2023
Net book value as at 1 January 2023
Net book value as at 31 December 2023		 Music library
Fixtures &
fittings
Computers,
Portable
Recording
Eqpt, Gazebo
Electronic
equipment
Total
£
£
£
£
£
5,000
4,227
22,434
28,682
60,343
-
-
1,703
-
1,703
-
-
-
-
-
5,000
4,227
24,137
28,682
62,046
5,000
3,363
21,161
19,656
49,180
-
173
992
1,674
2,839
-
-
-
-
-
5,000
3,536
22,153
21,330
52,019
-
864
1,273
9,026
11,163
-
691
1,984
7,352
10,027

All tangible fixed assets relate to unrestricted funds.

There are no contractual commitments for the acquisition of tangible fixed assets.

(b) Intangible assets

Cost as at 1 January 2023
Additions
Disposals
Cost as at 31 December 2023
Amortisation as at 1 January 2023
Charge for year
Elimination on disposal
Amortisation as at 31 December 2023
Net book value as at 1 January 2023
Net book value as at 31 December 2023		 Digital Music
Library
Audio
Branding
Visual
branding
Software
Total
£
£
£
£
£
314
3,000
6,000
2,985
12,299
1
-
-
-
1
-
-
-
-
-
315
3,000
6,000
2,985
12,300
91
2,400
3,000
2,625
8,116
32
600
600
180
1,412
-
-
-
-
-
123
3,000
3,600
2,805
9,528
223
600
3,000
360
4,183
192
-
2,400
180
2,772

All intangible assets relate to unrestricted funds.

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Trustees' Annual Report & Accounts 2023

Winchester Radio

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6. STOCKS

Fundraising CDs
Total this year
Closing
Impaired
Opening
Added in period
Expensed in period		 For
distribution
For
resale
For
distribution
For
resale
£
£
£
£
-
60
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
60
-
-
-
60
-
-
Donated goods
Stock

7. DEBTORS AND PREPAYMENTS

DEBTORS AND PREPAYMENTS
2023
2022
Unrestricted
funds
Restricted
funds
Total funds
Total funds
Trade debtors £
£
£
£
2,698
-
2,698
1,153
Prepayments and accrued income 1,193
-
1,193
1,215
Total 3,891
-
3,891
2,368
CREDITORS AND ACCRUALS 2023
2022
Unrestricted
funds
Restricted
funds
Total funds
Total funds
Amounts falling due within one year £
£
£
£
Trade creditors 728
-
728
22
Payments received on account for contracts or performance-
related grants 1,266
-
1,266
1,628
Total 1,994
-
1,994
1,650
CASH AT BANK AND IN HAND 2023
2022
Unrestricted
funds
Restricted
funds
Total funds
Total funds
CAFCash current account £
£
£
£
2,838
0
2,838
10,993
CAF Gold deposit account 62,414
12,522
74,936
75,519
PayPal account 1,086
0
1,086
435
Cash 0
0
0
0
Total 66,338
12,522
78,860
86,947

8. CREDITORS AND ACCRUALS

9. CASH AT BANK AND IN HAND

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Winchester Radio

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10. MOVEMENT IN FUNDS

(a) Current year

Balance Balance
01/01/2023 Income Expenditure Transfers 31/12/2023
Unrestricted Funds
General (inc. fixed assets) 22,601 26,973 (24,315) 1,560 26,819
Studio relocation/re-equipping 54,275 - - - 54,275
Total 76,876 26,973 (24,315) 1,560 81,094
Restricted Funds
DCMS/Ofcom Community Radio Fund 18,246 - (12,003) - 6,243
Studio relocation/re-equipping 6,027 - (35) - 5,992
Remote Broadcasting 152 - - - 152
Computer systems 210 - (75) - 135
Outside Broadcast equipment 1,560 - - (1,560) -
Total 26,195 - (12,113) (1,560) 12,522
Total Funds 103,071 26,973 (36,428) - 93,616

(b) Prior year

Prior year
Unrestricted Funds Balance
01/01/2022
Income
Expenditure
Transfers
Balance
31/12/2022
General (inc. fixed assets) 31,756
28,333
(26,541)
(10,947)
22,601
Studio relocation/re-equipping 43,275
-
-
11,000
54,275
Total 75,031
28,333
(26,541)
53
76,876
Restricted Funds
DCMS/Ofcom Community Radio Fund -
20,933
(2,687)
-
18,246
Studio relocation/re-equipping 6,027
-
-
-
6,027
Outside Broadcast equipment 1,560
-
-
-
1,560
Computer systems 263
-
-
(53)
210
Remote Broadcasting 152
-
-
-
152
Ofcom Broadcasting Licence Fees 850
-
(850)
-
-
Total 8,852
20,933
(3,537)
(53)
26,195
Total Funds 83,883
49,266
(30,078)
-
103,071

Purpose and restrictions of funds

(a) General (inc. fixed assets)

This fund represents the general unrestricted assets of the charity, including the current value of fixed assets, stock and debts owed to the charity.

(b) Studio relocation/re-equipping

There are both restricted and designated funds to cover the cost of relocating and re-equipping the studios - an ambition that stretches back to 2009, when the forerunner unincorporated charity was given notice of the need to vacate its previous studio accommodation. The current accommodation, which has been the charity's base since 2011, has been allocated to become part of a new elective surgery hub within the hospital. During the year, the NHS Trust agreed a new location on-site for Winchester Radio, and at the end of the year, planning for the relocation was underway both by the NHS Trust and Winchester Radio.

The restricted funds are the result of a successful crowdfunding campaign that completed in 2020.

In addition, since 2019, the Trustees have formally designated reserves in excess of the charity's stated reserves policy (see Note 12) for this purpose.

Seed funding from the Dept for Digital, Culture, Media & Sport, via the Ofcom-administered Community Radio Fund, to employ a part-time Community Business Development Manager for 12 months, to grow Winchester Radio's earned income. Following the resignation of the employee in the prior year, the terms of the grant were renegotiated allow the recruitment of another employee, again for 12 months, but on less hours/week. This employee started during the reporting period.

(d) Remote broadcasting

This fund consists of the residue from a grant from the Grand Provincial Lodge of Master Mark Masons of Hampshire & Isle of Wight to purchase equipment to allow our volunteers to broadcast from home.

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Trustees' Annual Report & Accounts 2023

Winchester Radio

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(e) Computer systems

This fund consists of the residue of grants and donations in prior years towards replacing/upgrading the charity's computer systems, on which it is reliant to provide its 24 hour radio service. On purchase or upgrade of the computer systems, the funds are transferred to unrestricted funds as the purchases are made to generally further the charity's objects.

(f) Outside Broadcast equipment

This fund derives from a grant from the IBM UK Trust towards to cost of a branded gazebo and other equipment to facilitate Winchester Radio undertaking outside broadcasts at community events.

11. TRANSACTIONS WITH TRUSTEES AND RELATED PARTIES

(a) Trustee remuneration and benefits

None of the Trustees have been paid any remuneration or received any other benefits from an employment with the charity or a related entity.

(b) Trustees' expenses

Trustees' expenses
2023 2022
Number of Trustees who were paid expenses 2 2
Reimbursement for products/services purchased on behalf of the charity £2,948 £936
Travel and subsistence - -
Accommodation - -
Other (specify) - -
Total £2,948 £936

(c) Transactions with related parties

Other than the reimbursement of Trustees for products/services purchased on behalf of the charity, there were no transactions with related parties in either the current or prior year.

12. RESERVES POLICY

The Trustees have determined that the charity should aim to hold unrestricted reserves at the bank equivalent to approximately 12 months operating costs. Discounting regular donations-in-kind, and based on the expenditure during the current and recent prior years, this equates to approximately £7,500. It has been the charity's long-term ambition to relocate to larger studio premises, and to this end, addtional reserves have been built-up over a number of years. To improve the clarity of the charity's financial position, in 2019 the trustees, therefore, created a designated fund into which these additional reserves have been placed. Once the full cost of relocating the charity becomes clear, in 2024, the remaining funds will be returned to the charity's general unrestricted funds.

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