Radio Cherwell –Financial Report 2023/24
Financial Report for the Year Ending 31 May 2024
The Organisation
Radio Cherwell is a Charitable Incorporated Organisation registered with the Charity Commissioners (No. 1171654). It exists as a hospital radio station operating and broadcasting from:
The Studio, Churchill Hospital, Old Road, Headington, Oxford, OX3 7LJ
The charity is run by a Board of Trustees elected by the membership annually.
This report, covering the period from 1[st] June 2023 to 31[st] May 2024, consists of following sections:
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A summary of income and expenditure with comparative figures for the previous year.
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Notes giving further details and summaries of specific areas.
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A summary of financial assets.
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Details of Assets and Liabilities
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Details of Creditors and Debtors
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Radio Cherwell –Financial Report 2023/24
1. Income and Expenditure
| 2023/24 | 2022/23 | |||
|---|---|---|---|---|
| INCOME | £ | |||
| MembershipSubscriptions | 1074 | 920 | ||
| ClothingSales | 40 | 50 | ||
| Donations,Gift Aid and Fundraising | 1104 | 1459 | ||
| Public Addresses | 2180 | 3049 | ||
| Recordings and Studio Services | 260 | 230 | ||
| Interest Received | 536 | 181 | ||
| TOTAL INCOME | 5194 | 5889 | ||
| EXPENDITURE | ||||
| Fees and Subscriptions – see below | ||||
| HBA membership Subscription | 50 | 50 | ||
| IRN/Sky News licence | 479 | 439 | ||
| TV License | 159 | 159 | ||
| Radio Cherwell App | 144 | 144 | ||
| Streaming Provider – Internet Radio | 216 | 235 | ||
| PPL – Hard Disk Music | 72 | 165 | ||
| PPL - Hospedia | 216 | 235 | ||
| PPL - Webcasting | 874 | 668 | ||
| AWS Website | 41 | 39 | ||
| Mixcloud | 79 | 79 | ||
| PRS | 226 | 0 | ||
| BT broadband + Telephone Line | 802 | 839 | ||
| Studio Relocation | 130 | 803 | ||
| Office Supplies / Postage | 74 | 91 | ||
| Insurance | 1331 | 1266 | ||
| Repairs and Maintenance inc. Trailer | 451 | 352 | ||
| Publicity | 0 | 124 | ||
| Library | 0 | 139 | ||
| HMRC | 103 | 0 | ||
| TOTAL EXPENDITURE | 5447 | 5826 | ||
| BALANCE | -253 | 112 |
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Radio Cherwell –Financial Report 2023/24
2. Notes and Comments
Income
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Fewer Public Addresses were undertaken, mainly relating to weather cancellations.
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Interest revenue increased, in line with national conditions.
Expenditure
- This was broadly similar with the previous year, but includes a new payment for PRS.
3. Current Financial Assets at 31/05/2024
| Bank Current Account | £506 |
|---|---|
| Business Reserve 1 | £8010 |
| Petty Cash | £5 |
| Total | £8521 |
Annual Running Costs of the Organisation
For the financial year 2023/24, the approximate running costs for the organisation were approximately £5000.
Relocation Fund is a Separate Account
The studio relocation started this year. This is covered in a separate set of accounts set up for this purpose. The fund account balance currently stands at £13041. Total spending to date is £1755 . When spending is complete money will be transferred from high interest account, to avoid penalty payments, if agreed.
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Radio Cherwell –Financial Report 2023/24
4. Assets and Liabilities
Assets
Fixed Assets
This total comprise the equipment of the organisation, including the trailer. Each year depreciation reduces the total. New equipment purchased during this financial year totalled £644.
At 31[st] May 2024 our fixed assets totalled £8000
Liabilities
Children’s Show Prize Fund
This is made up of money donated specifically and used for this purpose. The balance of the fund as at 31[st] May 2024 was £1022.
Peter Baker Fund
This fund was set up in memory of former member and used to finance an annual presentation. The balance of the fund as at 31[st] May 2024 was £299.
5. Creditors and Debtors
Creditors: This is income received in the 23/24 financial year, which relates to the 24/25 financial year. This totalled £220 , all for membership fees paid in advance.
Debtors: This is money yet to be received from services provided in 23/4 financial year. This totalled £890 all for public addresses work.
Richard Gosling, Treasurer, September 2024
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