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2024-12-31-accounts

ANNUAL REPORT AND FINANCIAL STATEMENTS For the year ending December 2024

One World Media Trust Rich Mix, 35-47 Bethnal Green Road, London E1 6LA

020 4542 8070; contact@oneworldmedia.org.uk; oneworldmedia.org.uk

One World Media Trust believes stories shape our world and that it matters how they’re told. We support journalists and filmmakers globally to tell stories that inform and connect us all.

ONE WORLD MEDIA TRUST

Report of the Trustees For the Year Ended 31 December 2024

Contents

Contents
Page
Trustees’ report 2 - 10
Legal and administrative information 11
Independent Examiner’s report 12
Statement of financial activities 13
Balance sheet 14
Statement of cash flows 15
Notes to the accounts 16 - 23

1

ONE WORLD MEDIA TRUST

Report of the Trustees For the Year Ended 31 December 2024

The Trustees are pleased to present their report together with the independently examined financial statements of the charity for the year ended 31 December 2024.

Legal and administrative information set out on page 11 forms part of this report. The financial statements comply with current statutory requirements, including the ok Statement of Recommended Practice: Accounting and Reporting by Charities (FRS 102).

OBJECTIVES AND ACTIVITIES

In the context of charitable governance, our purpose is to advance development education particularly as regards the public at large and particularly by means of broadcasting, and to promote research concerning any aspect of the same, making the useful results available to the public.

Development education means education in world problems of hunger, disease, poverty and ignorance and the solution thereof and the economic, social, political, and other problems of developing countries and their relationship with other more developed countries.

ONE WORLD MEDIA'S MISSION IS TO SUPPORT STRONG VIBRANT AND INDEPENDENT MEDIA THAT EMPOWERS CITIZENS, PROMOTES JUSTICE AND CONTRIBUTES TO INTERNATIONAL DEVELOPMENT. WE EDUCATE THE NEXT GENERATION OF MEDIA PROFESSIONALS, SHOWCASE THE BEST COVERAGE OF THE GLOBAL SOUTH, SUPPORT MEDIA DEVELOPMENT IN THE GLOBAL SOUTH AND INFLUENCE DECISION-MAKERS BY RUNNING THOUGHT-PROVOKING AND INSPIRING EVENTS.

2

ONE WORLD MEDIA TRUST

Report of the Trustees For the Year Ended 31 December 2024

The Trust achieves its objectives through three principal areas of educational and media support to global filmmakers and journalists:

ACHIEVEMENTS AND PERFORMANCE

One World Media Awards 2024

This year’s Awards took place at the Curzon Cinema in central London. In a year marked by substantial threats to the survival of journalism, the Awards had an even greater significance.

Our winners and nominees say that being recognised at the Awards brings greater visibility to the issues and communities they report on. It also raises their professional profiles, opening greater career and networking opportunities. For those facing press freedom attacks, the recognition offers greater validation and protection.

We had 550 entries, including from 117 countries. We specifically seek entries that meet at least one of the following criteria – challenged stereotypes, promoted balanced narratives, collaborated with contributors, and found solutions to societal problems.

The Awards had 15 categories recognising all media formats with categories recognising individuals at different stages of their career (Student, New Voice, International Journalist of the Year) and themed categories.

3

ONE WORLD MEDIA TRUST

Report of the Trustees For the Year Ended 31 December 2024

For the first time, we hosted a Media Freedom Lab the day before the Awards titled Navigating AI’s Impact on the Global South. We brought together leading experts on AI and media freedom with nominees, partners and judges. It took place at the European Bank for Reconstruction and Development in Canary Wharf, London.

As part of the Media Freedom Lab, we also exhibited the work of eight exiled photojournalists from around the world. Drawing on their lived experience of displacement from countries where their press freedoms have been curtailed, they captured what it means to be forced to live a life away from the familiarity of home.

This year the Awards partners and sponsors were a cross-section of the media organisations, international NGOs and development banks including BBC, C4, ITV, European Bank for Reconstruction and Development, European Investment Bank and Islamic Relief.

Talent Programmes 2024

Our talent development programmes are internationally competitive programmes that support early to mid-career storytellers who are working on a wide range of topics in the Global South. This year we recruited 10 journalists and filmmakers to take part in the year-long Fellowship programme consisting of mentoring, training, and funding for media projects. This group was made up of storytellers from Kenya, Venezuela, and the Philippines, amongst other countries.

In a new partnership with the Financial Times (FT) and the Pulitzer Centre, we supported a short documentary film focused on climate change and economic transition. The grant was for an experienced filmmaker to explore how climate change is affecting lives and work in the Global South. The selected filmmaker was from the Philippines, and his film will be delivered and published by the FT in 2025. The grant covered production costs, mentoring and an executive producer.

In 2024, we also launched a programme designed to enhance capacity and knowledge in solution-focused health reporting, by bringing together print journalists and filmmakers from Kenya and Nigeria, to produce ten-minute short films and print articles. The participants took part in a series of online and in person workshops, including ethics and sensitivity in health reporting, collaborating working practices in journalism, and pitch development for solutions ideas.

We funded final productions that focused on the communities offering solutions to critical health issues such as high maternal and child mortality in rural Kenya, women

4

ONE WORLD MEDIA TRUST

Report of the Trustees For the Year Ended 31 December 2024

suffering from vesicovaginal fistula in Nigeria, and poor access to life-saving vaccines in remote, nomadic communities. The final productions will be screened at events in 2025.

In 2024, grantees who attended our previous programmes had their work published by global media outlets. This included:

Events and Training

Our 2024 programme of events included:

Global Reporting Summit:

For the first time, we collaborated closely with an international media outfit to design and produce the Global Reporting Summit in Mexico City and in London. Partnering with POPLab, winners of the 2023 OWM Press Freedom Award, we delivered a dynamic series of workshops and panel discussions, working alongside regional organisations like Article 19, Connectas and The Pulitzer Centre. The theme was on how the women, children and other vulnerable groups in Latin America, and the Caribbean were being impacted by the climate crisis.

Africa Media Festival (AMF):

We attended the AMF in Nairobi, delivering two discussion panels on how journalists and filmmakers can collaborate to deliver impact.

Student programme: We continued working with universities across the UK to provide access to practical expertise on reporting international stories. This year we launched a new series with University of the Arts London that included film screenings and panel discussions with our alumni.

5

ONE WORLD MEDIA TRUST

Report of the Trustees For the Year Ended 31 December 2024

Future Plans

In 2025, we will begin implementing our newly published strategy, which is in the public domain. Its delivery will be supported by organisational changes, some of which are already underway. In the long term, these developments will strengthen our sustainability, help to diversify our income streams, and ensure that we remain deeply committed to supporting journalism from and about the Global South. Our new strategy centres the following principles:

STRUCTURE, GOVERNANCE AND MANAGEMENT

Legal Structure

One World Media was registered through a Declaration of Trust on 2 April 1987 as the One World Broadcasting Trust, an independent non-company charitable trust. The charity changed its name to One World Media on 10 July 2009, with approval from the Charity Commission. The charity has been operating as an incorporated company since 1 January 2016 with a new charity number. As is standard practice the original charity (number 296335) was wound down and dissolved, after the assets, liabilities and activities of the charitable trust were transferred to the incorporated charity on 1 January 2016.

The charitable company was established on 2 July 2012 and registered as a charity on 17 September 2015. The company is established under a Memorandum, and Articles of Association, which establishes the objects and powers of the charity, and under which it is governed.

6

ONE WORLD MEDIA TRUST

Report of the Trustees For the Year Ended 31 December 2024

The charitable company is limited by guarantee and has no share capital. The liability of members is limited to £10 per member in the event of a winding up.

Trustees

The directors of the charitable company are its trustees for the purpose of charity law and throughout this report are collectively referred to as the Trustees.

Trustees serve a term of three years, with a maximum of two terms. Trustees are not remunerated although reasonable out-of-pocket expenses may be reimbursed.

Organisation

The charity has four permanent staff members: the Director, Events and Partnerships Manager, the Communications Manager, and the Senior Programme Manager.

A Project Coordinator was employed for six months (January to June 2024) to assist with the annual Awards and other Events. Freelancers and consultants are also hired as needed to work on special projects.

A new part-time Office Manager role was created in April 2024 to increase operational efficiency.

The charity is supported by a consultant bookkeeper and accountant. The staff is responsible for the day-to-day running of the organisation and report to the board of trustees at quarterly meetings.

We could not carry out our work without the tremendous contributions of our many volunteers and supporters, including senior media figures. They are involved in a variety of activities including judging award entries, selecting applicants to the Fellowship, mentoring early career reporters, and acting as ambassadors at our events.

FINANCIAL REVIEW

The charity received grants and donations totalling £20,693 (2023: £13,293) in the year, with income generated from charitable activities as follows:

7

ONE WORLD MEDIA TRUST

Report of the Trustees For the Year Ended 31 December 2024

Investment and other income amounted to £19,423 (2023: £7,873), giving total income of £308,506 (2023: £212,348).

Expenditure for the year totalled £324,368 (2023: £329,459) including £313,581 (2023: £320,067) of expenditure on charitable activities, giving a net deficit for the year of £15,862 (2023: £117,111).

Total funds held by the charity at 31 December 2024 amounted to £130,062 (2023: £145,924). Unrestricted reserves at 31 December 2024 amounted to £130,062 (2023 £140,627).

Principal funding sources

The charity benefits from grants and donations from individual donors and institutions. Details of grants and donations received are set out in Note 2 to the accounts.

Investment policy

The charity’s Memorandum of Association does not confer any specific rights or restrictions on us as trustees in respect of investing its funds. The free funds held by the charity during the year under review were not sufficient to justify separate investment.

Reserves policy

Purpose

The purpose of the Reserves Policy for One World Media is to ensure the stability of the organisation and in the event of a necessary winding down, One World Media would have the resources to do so in a calm and measured way. In addition, there are reserves that can provide a source of internal funds for priorities such as IT support, redundancy and maternity payments, programme opportunity, and capacity building.

Definitions and Goals Operating Reserve

The Operating Reserve is intended to provide an internal source of funds for situations such as a sudden increase in expenses, one-time unbudgeted expenses, and unanticipated loss in funding. Operating Reserves are not intended to replace a permanent loss of funds or eliminate an ongoing budget gap.

It is the intention of One World Media for Operating Reserves to be used and replenished within a reasonably short period of time. The Operating Reserve Fund is defined as a designated fund set aside by action of the Board of Trustees.

8

ONE WORLD MEDIA TRUST

Report of the Trustees For the Year Ended 31 December 2024

The minimum amount to be designated as an Operating Reserve will be established in an amount sufficient to maintain ongoing operations measured for a set period, measured in months. The Operating Reserve serves a dynamic role and will be reviewed and adjusted in response to both internal and external changes.

The target minimum Operating Reserve Fund is equal to three to six months of average operating costs, plus an assessment of any additional necessary expenditure on overheads. The calculation of average monthly operating costs includes all recurring, predictable expenses such as salaries and office overheads.

The amount of the Operating Reserve Fund target minimum will be calculated each

year after approval of the annual budget, reported to the Finance and Governance Committee and included in the regular financial reports.

Opportunity Reserve

The Opportunity Reserve is intended to provide funds to meet special targets of opportunity or need that further the mission of the organisation which may or may not have specific expectation of incremental or long-term increased income. The Opportunity Reserve is also intended as a source of internal funds for organisational capacity building such as staff development, research and development, or investment in infrastructure that will build long-term capacity. The target amount of the Opportunity Reserve will be determined by the Finance and Governance Committee.

Accounting for Reserves

The Reserve Funds will be recorded in the financial records as Board-Designated Operating Reserve and Opportunity Reserve. The Funds will be funded and available in cash or cash equivalent funds. Reserves will be commingled with the general cash and investment accounts of the organisation.

Funding of Reserves

The Operating Reserve will be funded with surplus unrestricted operating funds. The Board of Directors may from time to time direct that a specific source of revenue be set aside for Operating Reserves. There is a preference for these Reserves being used in cases where match funding for a project from another funder is possible.

The Opportunity Reserve will be funded with occasional special designations made by the Board of Directors.

9

ONE WORLD MEDIA TRUST

Report of the Trustees For the Year Ended 31 December 2024

At 31 December 2024, six months’ core costs amounted to £96,000, and the balance of unrestricted funds of £34,062 has been transferred to the Opportunity Reserve.

TRUSTEES’ RESPONSIBILITIES IN RELATION TO THE FINANCIAL

STATEMENTS

Charity law requires the trustees to prepare financial statements for each financial period which show a true and fair view of the state of affairs of the charity and of its financial activities for that period. In preparing those financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to 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.

SMALL COMPANY PROVISIONS

This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies’ regime.

This report was approved by the board of trustees on September 2025 and signed on its behalf.

Peter Horrocks

Peter Horrocks Chair

10

ONE WORLD MEDIA TRUST

Report of the Trustees For the Year Ended 31 December 2024

LEGAL AND ADMINISTRATIVE INFORMATION

TRUSTEES: Chair: PETER HORROCKS CHARLOTTE ALFRED VICTORIA BRIDGES JESS CROMBIE JUAN FLAMES (resigned 2024, end of term) JOEL KIBAZO (resigned 2024, end of term) MURIEL LAMIN TRACY MANNERS CAROL NAHRA (resigned 2024, end of term) MAI NOMAN NEVINE MABRO JELIA SANE MAURICIO SADA PAZ SHELLEY THAKRAL DIRECTOR: VIVIENNE FRANCIS REGISTERED OFFICE: 86-90 PAUL STREET LONDON EC2A 4NE CHARITY NUMBER: 1163630 LTD COMPANY NUMBER: 08127016 PRINCIPAL BANKERS: BARCLAYS BANK PLC SOUTH CHILTERN GROUP HIGH STREET THAME OXON OX9 3DU INDEPENDENT EXAMINERS: FJM ACCOUNTANCY LIMITED 23 SHACKLETON COURT 2 MARITIME QUAY 12LONDON, E14 3QF SOLICITORS: BATES, WELLS & BRAITHWAITE 20 OLD BAILEY LONDON, EC4M 7EP

11

Indopond•nt examinerfs report to the trustaos of One Workl ￿￿1• Trt￿t charitabl• company (the C(xnpany) I report to the chanty truste85 on my examinatujn of the ￿ounts of the Ccrfnpany for the year énded 31 December 2024. Re8pon8lbllftlM and basls of i•port As the ¢haritls trustees of tho C￿mpanY {and a180 its direclcKs for the wrr)ses of ca)mpany lawl you are resp(Insible for the preparation of thè counts in ￿Cordanc• the requirern￿ts of the Ccffipanl￿ Act 2(K ('the 20C6 Acr} Having satisfied myself that the accounts of the Compary are not required to audited under Part 16 of the 20CKS Act and a￿ eligible for independent examination. I report in respect of my examinatsn of your chartys accounts as Carr￿ out under Sect￿ 145 of the cfwrtJ6s Act 2011 (the 2011 Acy) In carrying out my examinallon I have tha DiroclKM CW commiss￿ undw 80¢t￿l 145(S1 Ib) of the 2011 Indep•nd•nt •x•mln•ff• •tat•m•nt Since the Company's gross in￿me exceeded £250.4￿ your examiner musl be a memt•r of a body listed In section 145 01 the 2011 Act I confim that l am quaIrf￿d to undertake the examinatw because l a membor ol the Assoc￿tK￿ of A¢(￿nting TechnrAqns. is one of tho listthy i#)d I hav8 completed my examination I confinTr that ￿ ma118rn have corne to my attanlon In ccffjnection the examinabon gNing me cause to beheve that in any matenal rgspe¢t". accounllng records wore not k•pt In resFrft of tho Compary as requlred by 8ecllon 386 of th• 2006 the 8cwunts do nol accord Ihw r￿d8, or accounts do not o)mpty wrth the acccwnbrwd r•quir•mwts of secticm 398 of the Act other than any requ1￿ment that acc(yJnts gr#P a and lairf not a matter consKlered al part of an independent examinatA)n," ty the accounts have not been prepared in ac4xYdance wrth the methods and pn'nciples of the Statemént of Recommended PractKe for aCc￿n￿"ng and re[￿ing by charities applicable to chanlies pr8parlng their accounts in accordan(x wilh the Finan¢lal Rewting Stsndard appluble in the UK end Republtc of Ireland IFRS 102). I have no concems and have Come across no other mattern in Con￿￿k￿ ryth th8 examinatth to whth attentlon 8h¢)uld be drv4ffl In this rewt in ¢xdef ts) enable a wc4)8r under8tandiw of tt)e to b8 reach&J. Frnnk J M¢l)tr*•ll FPAAAT FJM Accountancy Limited 23 Sha¢klelon Court 2 Maribme Quay London E14 3QF Date.. 25 Septsmber 2cr25 12

One World Media Trust Statement of Financial Activities (incorporating Income and Expenditure Account) For the year ended 31 December 2024

2024
Un-
restricted Restricted
Total
Notes
£
£
£
Income
Grants and donations
2
Fellowship Program
-
14,500
14,500
Fellowship Alumni
-
6,000
6,000
Other
193
-
193
193
20,500
20,693
Income from charitable activities
One World Media Awards
Sponsorship and event income
145,556
-
145,556
145,556
-
145,556
Fellowship Program - sponsorship
15,000
-
15,000
Global Short Docs Forum
Grants
2
-
100,000
100,000
Sponsorship and event income
-
-
-
-
100,000
100,000
Global Reporting Summit
7,834
-
7,834
Other income
14,499
-
14,499
Investment income
4,924
-
4,924
Total income
188,006
120,500
308,506
Expenditure
Costs of raising funds
3
10,787
-
10,787
Expenditure on charitable activities
3
169,765
143,816
313,581
Total expenditure
180,552
143,816
324,368
Net income/(expenditure) for the year
4
7,454
(23,316)
(15,862)
Transfers between funds
13
(18,019)
18,019
-
Reconciliation of funds:
Fund balances at 1 January 2024
140,627
5,297
145,924
Fund balances at 31 December 2024
13
130,062
-
130,062		 2023
Un-
restricted Restricted
Total
£
£
£
-
13,000
13,000
-
-
-
293
-
293
293
13,000
13,293
149,512
-
149,512
149,512
-
149,512
25,000
-
25,000
-
-
-
16,052
-
16,052
16,052
-
16,052
618
-
618
6,985
-
6,985
888
-
888
199,348
13,000
212,348
9,392
-
9,392
144,902
175,165
320,067
154,294
175,165
329,459
45,054
(162,165) (117,111)
(25,000)
25,000
-
120,573
142,462
263,035
140,627
5,297
145,924

The statement of financial activities includes all gains or losses for the year. All income and expenditure derive from continuing activities.

13

One World Media Trust Registered Number: 08127016 Balance Sheet As at 31 December 2024

Notes
Fixed assets
Tangible assets
8
Current assets
Debtors
9
Cash at bank and in hand
Creditors: amounts falling
due within one year
10
Net current assets
Net assets
11
The funds of the charity:
12
Unrestricted income funds
Designated funds
General funds
Total unrestricted funds
Restricted income funds
Total funds		 25,642
284,686
310,328
180,266		 2024
£
-
130,062
130,062
34,062
96,000
130,062
-
130,062		 28,449
286,927
315,376
169,600		 2023
£
148
145,776
145,924
43,627
97,000
140,627
5,297
145,924

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006 and that members have not required the company to obtain an audit in accordance with section 476 of the Act.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.

The financial statements were approved by the trustees on

September 2025 and signed on their behalf by:

Peter Horrocks

Peter Horrocks

Director and Interim Chair of Trustees

14

One World Media Trust Statement of Cash Flows For the year ended 31 December 2024

Net cash used in operating activities:
Net movement in funds
Add back depreciation charge
Decrease/(increase) in debtors
Increase in creditors
Change in cash and cash equivalents in the year
Cash and cash equivalents brought forward
Cash and cash equivalents carried forward		 2024
£
(15,862)
148
2,807
10,666
(2,241)
286,927
284,686		 2023
£
(117,111)
1,269
(15,752)
74,975
(56,619)
343,546
286,927

15

One World Media Trust Notes to the Accounts For the year ended 31 December 2024

1 Accounting policies

The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and in the previous year.

Basis of preparation and assessment of going concern

The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) (effective 1 January 2019), the Charities Act 2011 and the Companies Act 2006.

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

The trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern.

Funds structure and accounting

Restricted grants and donations are available for the Charity's use only in accordance with the terms under which, and for the purposes which, the funds were donated to the Charity.

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the Charity.

Designated funds are unrestricted funds earmarked by the trustees for particular use.

Income recognition

All incoming resources are included in the statement of financial activities when the Charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:

Voluntary income is received by way of grants, donations and gifts and is included in full in the statement of financial activities when receivable.

Investment income is included when receivable.

Expenditure recognition

Expenditure is recognised on an accrual basis as a liability is incurred. Where expenditure includes VAT which can only be partially recovered, the irrecoverable VAT is reported as part of the expenditure to which it relates.

Costs of generating funds comprise the costs associated with attracting voluntary income.

Charitable expenditure comprises those costs incurred by the Charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the Charity and include the independent examination fees and costs linked to the strategic management of the Charity.

16

One World Media Trust Notes to the Accounts For the year ended 31 December 2024

1 Accounting policies (continued)

Expenditure recognition (continued)

All costs are allocated between the expenditure categories of the statement of financial activities on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis e.g. floor area or estimated usage, as set out in Note 3.

Tangible fixed assets and deprecation

Assets with a cost of less than £500 are expensed. Fixed assets are stated at cost less accumulated depreciation. Depreciation is calculated so as to write down to estimated residual value the cost of all other tangible fixed assets over their estimated useful lives as follows:

IT & office equipment

33.33% per annum on cost

Leasing

Rentals paid under operating leases are charged to income on a straight line basis over the lease term.

Pensions

The Charity operates a defined contribution pension scheme. Contributions are charged to the statement of financial activities as they become payable in accordance with the rules of the scheme.

2 Grants and donations received

Fellowship Program
Harold Hyam Wingate
Lord Deedes of Aldington Charitable Trust
Oakdale Trust
The British East-West Centre
Fellowship Alumni
Evan Cornish Foundation
British Council
Global Short Docs Forum
New Venture Fund
Others		 2024
Unrestricted
Restricted
Total
£
£
£
-
-
-
-
8,000
8,000
-
-
-
-
6,500
6,500
-
5,000
5,000
-
1,000
1,000
-
100,000
100,000
193
-
193
193
120,500
120,693		 2023
Total
£
4,000
8,000
1,000
-
-
-
-
293
13,293

17

One World Media Trust Notes to the Accounts For the year ended 31 December 2024

3 Resources expended

Basis of
allocation
Costs directly allocated
to activities
Donations and grants
Direct
Gross salaries, NIC and pension
Direct
Subcontractors
Direct
Venue and caterers
Direct
Production costs
Direct
Trophies and judging
Direct
Trainers, facilitators and speakers
Direct
Travel and subsistence
Direct
Office, postage and printing
Direct
Payment processing charges
Direct
Consultancy fees
Direct
Website updates and marketing
Direct
Support costs allocated
to activities
Gross salaries, NIC and pension
Staff time
Recruitment and staff training
Staff time
Rent
Staff time
Travel and subsistence
Staff time
Communications
Staff time
Postage and couriers
Staff time
Stationery and printing
Staff time
IT costs
Staff time
Insurance
Staff time
Accountancy fees
Staff time
Independent examination
Usage
Consultancy
Staff time
Depreciation
Staff time
Trustee recruitment and meetings
Usage
Website updates and marketing
Staff time
Other expenses
Staff time
Total resources expended		 Global
One World Short Docs

Media Awards
Forum Education Events
Fundraising
Governance
2024
£
£
£
£
£
£
£
-
6,301
9,700
-
-
-
16,001
15,233
20,754
-
-
-
-
35,987
7,514
-
-
-
-
-
7,514
11,263
3,122
-
1,238
-
-
15,623
732
7,096
-
700
-
-
8,528
2,155
-
-
-
-
-
2,155
500
3,864
7,188
3,039
-
-
14,591
138
3,840
216
1,837
-
-
6,031
1,408
-
-
-
-
-
1,408
1,293
25
120
51
-
-
1,489
-
6,113
2,550
2,006
-
-
10,669
7,340
-
47
30
-
-
7,417
81,792
22,975
25,316
14,466
8,928
7,975
161,452
194
55
60
34
21
19
383
5,001
1,405
1,548
884
546
488
9,872
609
171
189
108
67
59
1,203
1,051
295
325
186
115
103
2,075
-
-
-
-
-
-
-
17
5
5
3
2
1
33
1,237
347
383
219
135
121
2,442
210
59
65
37
23
20
414
6,251
1,756
1,935
1,106
682
610
12,340
-
-
-
-
-
1,900
1,900
329
93
102
58
36
32
650
75
21
23
13
8
8
148
-
-
-
-
-
-
-
-
-
-
-
-
-
-
2,048
575
634
362
224
200
4,043
146,390
78,872
50,406
26,377
10,787
11,536
324,368		 2023
£
15,400
41,114
1,900
21,913
13,261
1,715
23,126
1,750
2,675
1,614
9,665
7,840
152,888
1,684
10,485
725
1,538
15
98
1,616
389
10,996
1,900
-
1,269
17
231
3,635
329,459

One World Media Trust Notes to the Accounts For the year ended 31 December 2024

4
Net income/(expenditure) for the year
This is stated after charging:
Independent examiner's fees
Depreciation
5
Staff costs and numbers
Staff costs were as follows
Wages and salaries
Social security costs
Pension costs		 2024
£
1,900
148
2024
£
184,840
18,265
3,539
206,644		 2023
£
1,900
1,269
2023
£
180,760
17,856
4,415
203,031

The Charity considers its key management personnel comprise the trustees and the Director. The total employment benefits including employer pension contributions of the key management personnel were £50,000 (2023: £42,113). No employee received emoluments of more than £60,000.

The average weekly number of employees during the year, calculated on the basis of full time equivalents, was as follows:

Director
Administration and support		 2024
No.
1
5
6		 2023
No.
1
5
6

The Charity operates defined contribution pension schemes for its employees and made contributions during the year of £3,539 (2023: £4,415).

6 Trustee remuneration

No trustee or other person related to the Charity had any personal interest in any contract or transaction entered into by the charity during the year or the previous year.

7 Taxation

As a registered charity, One World Media Trust is exempt from tax on income and gains falling within Part 11 of the Corporation Tax Act 2010 to the extent that these are applied to its charitable objects. No tax charges have arisen in the Charity.

The Charity is registered for Gift Aid with HM Revenue & Customs under reference number ZD12634.

19

One World Media Trust Notes to the Accounts For the year ended 31 December 2024

8
Tangible fixed assets
Cost
At 1 January 2024
At 31 December 2024
Depreciation
At 1 January 2024
Charge for the year
At 31 December 2024
Net book value
At 31 December 2024
At 31 December 2023
There were no capital commitments at 31 December 2024 (2023: Nil)
9
Debtors
Accounts receivable
Prepayments and accrued income
10
Creditors: amounts falling due within one year
Accounts payable
Social security and other taxation
Accruals
Deferred income (Note 11)
Other creditors
11 Deferred income
At 1 January
Deferred in the year
Released in the year
At 31 December		 2024
£
19,800
5,842
25,642
2024
£
3,841
17,579
5,270
153,156
420
180,266
2024
£
138,921
132,685
(118,450)
153,156		 IT & office
equipment
£
7,970
7,970
7,822
148
7,970
-
148
2023
£
24,000
4,449
28,449
2023
£
3,818
20,263
5,529
138,921
1,069
169,600
2023
£
77,429
138,492
(77,000)
138,921

20

One World Media Trust Notes to the Accounts For the year ended 31 December 2024

12
Analysis of net assets between funds
Current year
Tangible fixed assets
Net current assets
Prior year
Tangible fixed assets
Net current assets
13
Movement in funds
Current year:
Unrestricted funds:
Designated funds:
Tangible fixed assets fund
Opportunity reserve
General funds - Operating Reserve
Total unrestricted funds
Restricted funds:
Fellowship Program
Fellowship Alumni
Global Short Docs Forum
Total restricted funds
Total funds		 Designated
General Unrestricted Restricted
funds
funds
funds
funds
£
£
£
£
-
-
-
-
34,062
96,000
130,062
-
34,062
96,000
130,062
-
148
-
148
-
43,479
97,000
140,479
5,297
43,627
97,000
140,627
5,297
At 1
January
Income
Expenditure
Transfers
£
£
£
£
148
-
-
(148)
43,479
-
-
(9,417)
43,627
-
-
(9,565)
97,000
188,006
(180,552)
(8,454)
140,627
188,006
(180,552)
(18,019)
5,297
14,500
(43,116)
23,319
-
6,000
(700)
(5,300)
-
100,000
(100,000)
-
5,297
120,500
(143,816)
18,019
145,924
308,506
(324,368)
-		 Total
funds
£
-
130,062
130,062
148
145,776
145,924
At 31
December
£
-
34,062
34,062
96,000
130,062
-
-
-
-
130,062

Transfers in the year

£23,219 (2023: £25,000) of Fellowship Program sponsorship income has been transferred to the Fellowship Program restricted fund in the year, in accordance with the overall restricted nature of the Fellowship Program fund.

21

One World Media Trust Notes to the Accounts For the year ended 31 December 2024

13
Movement in funds (continued)
Prior year:
Unrestricted funds:
Designated fund:
Tangible fixed assets fund
Opportunity reserve
General funds - Operating Reserve
Total unrestricted funds
Restricted funds:
Fellowship Program
Global Short Docs Forum
Total restricted funds
Total funds		 At 1
January
Income
Expenditure
Transfers
£
£
£
£
1,417
-
-
(1,269)
24,556
-
-
18,923
25,973
-
-
17,654
94,600
199,348
(154,294)
(42,654)
120,573
199,348
(154,294)
(25,000)
11,682
13,000
(44,385)
25,000
130,780
-
(130,780)
-
142,462
13,000
(175,165)
25,000
263,035
212,348
(329,459)
-		 At 31
December
£
148
43,479
43,627
97,000
140,627
5,297
-
5,297
145,924

Designated funds:

Tangible fixed assets fund

The fixed asset fund represents the net book value of tangible fixed assets, and has been designated by the trustees to reflect the fact that these funds are not in a liquid form and so are not expendable funds.

Opportunity Reserve

The Opportunity Reserve is established in accordance with the reserves policy as described in the Trustees' Report. At 31 December 2024, six months' core costs amounted to £96,000, and the balance of unrestricted funds of £34,062 forms the Opportunity Reserve.

In the year ended 31 December 2024, Trustees determined to meet expenditure from the Opportunity Reserve for increases in overhead costs.

Restricted funds:

Fellowship Program

The Fellowship provides bursaries, mentoring and training to emerging filmmakers and journalists from the Global South to enable them to produce media reports. Grants and donations were received in year from The European Bank of Reconstruction and Development, The Lord Deedes of Aldington Charitable Trust, and the British East West Centre.

Fellowship Alumni

In 2024, we provided support from the British Council to a Fellow Alumni based in Nepal, to deliver a pitching and mentoring workshop to filmmakers based in Nepal. We also received funding from the Evan Cornish Foundation to research and develop an alumni talent database.

22

One World Media Trust Notes to the Accounts For the year ended 31 December 2024

13 Movement in funds (continued)

Global Short Docs Forum

In 2024/25, we delivered a GSDF special Health Solutions Programme, funded by New Venture Funds. This work brought together a multi disciplined group of journalists from Nigeria and Kenya to build and share their skills in solutions-focused health reporting using visual storytelling, to deliver powerful, engaging information to audiences. The objectives were to: build capacity, knowledge and expertise amongst filmmakers and print journalists, promote collaborative working practices, increase awareness of the health issues, and to introduce and extend awareness and the advantages of solution-focused health reporting via visual-storytelling to a wider audience. Sixteen journalists took part in online workshops, and then pitched ideas to commissioners. Three ideas were selected and six journalists participated in the in-person workshops. The teams received a production grant to complete three short films. A public screening event and panel discussion were held in Nairobi, Kenya in January 2025, and the output published and broadcast online.

14 Commitments in respect of licence for premises

At 31 December 2024 the Charity was committed to future minimum payments under a non-cancellable premises licence as follows:

Not later than one year 2024
£
2,454		 2023
£
2,373

23

One World Media Trust Statement of Cash Flows For the year ended 31 December 2024

Net cash used in operating activities:
Net movement in funds
Add back depreciation charge
Decrease/(increase) in debtors
Increase in creditors
Change in cash and cash equivalents in the year
Cash and cash equivalents brought forward
Cash and cash equivalents carried forward		 2024
£
(15,862)
148
2,807
10,666
(2,241)
286,927
284,686		 2023
£
(117,111)
1,269
(15,752)
74,975
(56,619)
343,546
286,927

15