ADVENTIST RADIO LONDON CHARITY NUM ER= 1175942 COMPANY NUMBER. 10823121 ANNUAL REPORT OF THE TRUSTEES AND STATEMENT OF UNAUDITED ACCOUWtS FOR THE YEAR ENDED 31 OEC ADVENTIST RADIO LONDON CONTENTS The Trustees and Officers Annual Report of the Trvstees Independent ExaminersRepgrt Statement of Financial Activities Balance Sheet Notes to Ac¢ounts 9.14 ADVENTrsf RADIO LONDON CHARITY INFORMATION YEAR ENDED 31 December 2023 REGISTERED OFFICE- 25 St Johns fload Watfoi¢JHwtfordshire WD17 IPZ - CHARITY NUMBER- 1175942 -COMPANY NUMBER- 10823121 DIRECTORs/fRusfEES- KirkThomas Afin Swaby L)wayne Lawson Nathan Stickland - ACCOUNTANTS- Moore Kingston Smith LLP Chartered Accountants 4 Vicioriè Square Si. Alban5 ertfordshire ALI 3TF ADVENnsT RADIO LONDON ANNUAL REPORT OF THE TRUSTEES FQR TH£ PERIOD ENDED 310ECEMBER 2023 CONSTITUTION The Company was incorporated on 16 June 2017. The go¥erning document is the Memorandum and Articles of Association adopted on that date. The company became a re8i5tered charity on 27 November 2017. TRUSTEES AND OFFICEAS The names ol the Trustees who have served during the year are shown on page two of this report. STATEMENT OF RESPONS181LIT]ES OF TRUSTEES The trLtstees Iwho a￿ also directofs of Adventist Radio London for the purposes of company lawl Bre responsible for preparing the Trustet5' Ileport and the financial statements in accordance with appltcable lèw and United Kin8dom Accounting Standards (United Kingdom Generalty Accepted Accounting Practice). Company law required trustees to prepare financial ststements for each financial year which 8ive a true and fair view of the state of the affairs of the charitable company and of the incorning resources and application of resource5, including the income and expendituie. of the charitable tompany for that period. In preparing these financial stJtementS, the trustees are Fequire(I to-. o selec¢ 5Ultable accounting policie5 and ihen appfy them consistently,. o observe the methods and principles in the Charities SORP. o m3*e judgements and estrmaies that are reasonable ènd prudent- o state whether applicable UK Accounting Standards have been followed, subject to any material departure5 disdosed #nd explained in the financial statements.. D prepare ihe financial siatements on the 80ing concern ba515 unles5 It is inoppropiiate to presume that the charitable company will continue in business. ADVENnsT RADIO LONDON ANNUAL REPORT OF THE TRUSTEES FOR THE PERIOD ENDED 31 DECEMBER 2023 The trustees are responsible for keeping proper accounting records that dlsclose with reasonableaccura¢y at any time the financtal position of the charitable company and enable them to ensure that the financial siatements comply with the Companies Act 2W6. They are also responsible fof safeguardin6 the amets of the ¢hèrit•ble company and hen￿ foi taking reasonable steps for Ihe prevention and detethon of fraud and other irregularities. PUBLI BENEFIT The trustees confirm that they have complied with the duty in Charities Act 2011 to have due regard to ihe Charity Commission General Guidance on Public Benefit, when reviewing theif aims and obiecti¥es and in planni08 futuie activities. In particular. the TTllStee5 consider how planned activities will contribute to the aims and objectives they have set. PRINCIPAL OFFICE The principal office of the tharity is.. 25 St Johns Road, Watford, Hertford5hiTe WD17 IPZ. OAGANISATION The Company is under the control of the Trustees. The radio is run on a daily basis by the Dirèrtor Michael Harnilton. and the Pro8rammin8 Manager Michaèl S Johnson. 8JEcfivES AND AaivinES To successfully launch an Adventist Radio station in London which will reach at least 150,OC4) regular Iisieners in 3 years with the pure truth of the 805pel. and more than 350,OCMJ listener5 in S yeats. To increase the number of iondoners who will be exposed to the gospel and, more spÈeificalty, to produeè a ¢ompellirt8 schodule (Jf prosramme5 for the puipose. To make a 8reater audTrence aware of the church'5 te3ching5 of the Bible. To use the teachings of the bible to address social challenges facing many people in London and thus represent a vital sourte of chan8e, Èrowth and development for its listeners To be a ¢ataly5t for a comprehen5Ne rnass media 51rategy, which create5 content for a web51te, and an appealing opp among other social media initiatives. This also involves hosting community seminars for OLti audiences. wrth great presenters of present truth in the bible, health and other afeas of lrfe and so strengthen their w¥lk with God. To be ihe destination for people who yearn to be drawn closer to God and experience a pure, holy sound that is distinctive and different from what they have in the world. To help people already in the church to grow iheir faith and be a 50uKce where they can learn fnore aljout ChTSSt and keep them from the growin8 tide of secularism and deception that has swept away 50 many other Christians into apathy and error. ADVENTIST RADIO LONDON ANNUAL REPORTOF THE TRUSTEES FOR THE PERIOD ENDED 310ECEMBER 2023 ACHIEVEMENTSAND PERFORMANCE Streamlinin8 the proEramme schedule and providing new Content Stabilising the exisiin8 broadcast infrastructure Introdu¢tioft of additional Volunteer broadcasters and Live UKllnternational programmes throughout the pandemic PLANS FOR THE FUTURE- Establish more consistent fvnd.-raisin8 thannels- churches and members of Seventh4ay Adventist churches its the South of England Develop and execute 7-year strategic plan to Fe3¢h mofe listeners in Lortdon and the outer London a￿a RISK ASSESSMENT The major risks to the Company have been identified. The Trustee5 and management have an ongoing process to review these risks. RESERVES POLICY The charity is relaint on the support of other charities related to the Seventh- Day Adventist Church. The chariiy has agreed necessary fundin8 from these charities for the ￿Seeable future. RECRUITMENT AND APPOINTMENT OF TRUSTEES Trustees are apwnted from people who either have experience of or an interest in dealing with the Charity's objettive. TRUSTEE INOUCTION ANDTRAINING New trustees are provided with documentation to enable them to appreciate Trust's objectives. organisation. method of operation and their responsibilities under the law. In addition existing trustees assist them in becoming fully conversant with their role. ADVENTIST KIDIO LONDON ANNUAL REPORTOFTH£TRUSTEES FOR THE PEAIOD ENOED 31 DECEMBER 2023 FINANCIAL REVIEW Thè results for the year are Set out on page5 seven and èi£ht. The trustees are satisfjed with the'linaotial progress.ol the charÉty. These financial statements have been prepared in accordance with the provisions applicable to companie5.subJert to the Small companies regime within Part"15 of the'companbes Act 2006. Approved on behalf of the Board on.. 2¥10112025 Trusiee A Swaby ADVENTIST RADIO LONOON Independent Examinef5 Report to the Trustees of Adventist Ratlio London I report on the accounts of Adventist Radio London for the year ended 31 December 2023, which comprise the Statement of FinancFal Artivit1è5, the 8alan¢e Sheet and related notes. ReSpor￿1b1ll¢les and Basis of Report As the ¢haiity's trustees, you are ￿sponsible for Ihe preparatson of the ac¢ount5 in accordance with the requirements of the Charities Act 20111.the A¢fl. I report in resp¢rt of my examinat40n of the Trusys account5 carried out under section 145 of the 2011 Act and in carrying out my examination. I have folltswed all the applicable Dire¢tlOll$ given bv the Charity Comrnission under section 14515llbl of the Act. Inde￿Trt Examw's Statemenl The charl￿S gross income exceeded £250.0(MJ and l am oualif*d to undertake the examinatiori by being a qualified member of ACCA. I have completed my examination. I confirm that no material matter5 have come to my atteniion in connection with the examination which 8ive5 rne cause to believe that in, any material respect: the atcovnting records were not kept in accordance with section 130 of the Charit￿5 Att. or the accounts did not accord wtth the accountin8 records,. or the accounts did not compty with the applicable requirements concerning the lorm and content of accounts set out in the Chaftties (Accounts and Reports) Regulations 2008 other than any requirement that the account58ive a'twe and fairf view which is not a matter I have no concerns and have come across no other mattefs in ¢onnertFon 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. Roger Ogden FCCA For and on behalf of Moore ￿n8$tOrt Smith LLP Chartered Accountants 4 Victorta Square Hertfordshire ALI 3TF Date- 2911r1￿25 Athvrtlst R•dl¢ lorthe￿•rt￿O JI Dtcembtr 2023 20ZZ Iioies Totsi Funds Fvnd5 Inco￿ Irorn thiiat#)nsand iewies DonatlW5 Grants 17,892 346.231 13.389 317.7Y9 13.389 317.779 346.131 Total 364.IZJ 331,168 331.168 Rhis1￿E funds Chaiitableactlwi*s'. G¢l¥einanc 3S9.201 4.440 363.641 3Sg.201 4A40 36aHJ 34S.233 345.233 4.440 149.673 349.57J I￿.5￿5) b3￿nC0S broL4ht lo￿ard31janu￿ i 73.746 73.746 92-.2SL 92.2Sl FI￿d ba￿￿e$(arrI￿tt ￿r•18rdar0¢ceth￿3I 74. 74.110 ?3.746 73.746 Ther**ere noieco8nised ￿￿54nd k75se5¢thuthan tlwAth*diNthe Advent15t Radio London Balance Sheet As at 31 December 20 2023 2022 Notes Fixed Assets Tangible Fixed Assets 27.251 27,620 Current Assets Debtors Cash at bank and in hand 73.089 65.246 Total Current Assets 73.089 65,246 Creditors.. Amounts due wiihin a year io 26,112 19,120 Net Currènt Assets Total Net Assets 74.228 73.746 Fund balances Unre5tritted Restricte 74.228 73,746 Total Funds 74,228 73.746 For the finanaal period ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The dtrectors acknowledge their responsibilities for complyingwith the requirements of the Aci with respect to accounting records and the preparation of financial statements. The members have not reguired the company to obtain an audit of its financial statements for the period in question in accordance with section 476. Approved and authorised for iswe by the Board of Twstees on 281112025 and signed on its behalf bv: A Swaby Trustee The notes on pages 9 to 14 form part of these accounts. Adventlst Ra&io London Notes to the FiTrancial Ststements Fow the year ended 31 De¢èrnber 2023 A<¢ountini Policie5 1.18asis of preparation The financial statements have been preparÈd in atcordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. The company is a public benefrt entity forthe purposes of FRS 102 and a registered charity established as a company limited by gLtarantee and therefore ha5 also prepared rts financial statements in accofdance with the Statement of Recommended Practicè applicable to charities preparing their ¥counts in attordance with the Fhn4ncial Reporting Standard applicable in the UK and RepublK of Ireland IThe FRS 102 Charities SORPI. the Companie5 Att 2006 and Charities Act 2011. All expenditure is accounted for on an accruals basi5 and, where incurred dirtrfty to further the thariws £haritable objects, IS shown under charitable actNrties. 1.2 Governance costs Governance costs inclLHle the management of the charitable companrfs è5set5 and or8anisational management and compliance with constitutional and statutory requiiements. 1.3 Tan¥ible fixed assets Tonaible fhxed assets are Stated at cost less deprecotion. Depre0at￿n is provxled 3t rates calculated to write off the c95t ￿s$ e51imated resmlual value of each asset over its experted useful lrfe. as follows.. Property improvements Equipment 5% strai8ht line 10% stra￿ht line 1.4 Funtl accountln8 Unre￿ricted Funds are resovrces which tan be used in accordance wrth the charitable objects at the discret40n of the trustees and include Des￿nated Funds set aside by the directors for specific purp¢15es. 1.5 Gorng concern The twstees believe that going concern basi5 is appropriate due to the support of associJted tharities. 1.6 Financial instruments Creditors.. Cre(Jitor5 feceivable or payable within one year of the reportiTr£ date are carried at their tran5artion price. Adventist ftadio London Notes to the Financial Statements For the yearended 31 De¢ember 2023" Income from donations and legaaes 2023 Unrestricted Restrirted Total Adveniist Wofld Radio .5outh England Conference of Seventh- ay. Ad¥entisiS 266.231 266,231 80,000 Subtotal of base donatit)ns D¢nations 17.892 13.389 Subtotal of othtt donations 13.389 Total income from donatsons"4nd le$a£hes 364.123 359.620 2022 Unrestrirted Rtstrirted Total Adventist World Radio South En8land Conferenc¢ o* Seventh- day A(fventiSts 252.579 252,579 65.200 65,200 Subiotal ol basè daffiations 317.779 317 779 Donations 13.389 13.389 Subtotal ot thher donatlons 13.389 13.389 Total Inwrne from donations and legades 331.168 331.168 io Adventsst Radlo London Notes to the FSnan¢lal Statements For the year ended 31 December 2023 •. An¥lystsof Resources by Aciiwty 2023 Grant Funding of DI￿¢11¥ £ti¥ities Unde"rtakery Support Costs Total Expense Radio bloadcasting 338,822 20,379 359.201 338 822 359 201 2022 Grnnt Aciivities Fundin8 of Dlfettty Arti¥ities ilndertaken sup.port Total E¥pen5e Radio broadcastin8 >20.735 24.498 345.233 320 735 b. Analysis ¢rf n¢Jft"Br•nt expendilure by Charitsbl¢ ACt•￿Tty 2023 Stsff Costs Dewetiation Other Costs Total Radio broadcasting S6.084 371 302,746 359.291 371 302 746 359 201 2022 stsft Costs Deweu•tion Other Costs Total Radio br￿dCastin6 54.057 4.007 287.169 345.233 54.057 287 169 345.233 2023 Charity 2022 tharity Accouftiin8 Costs Trustee expenses 4.440 li Adventist Radio London otesto the FinaDcial Ststements Forthe ￿ar ended 31 December 2023 Net resource5 expended Total 2023 Totsl 2022 This is Mated after chargin8'. Depreciation of tan8Trbleffixed a55ets.' Governance audit Costs fttimbursefflent of expenses to trusteÈs 369 1,287 4.440 Stsft Costs Total 2023 Total 2022 Staff costs were a5 follows: Wages and $31artes Social Security Costs Other pension Costs 45,173 5,341 43,321 5.S36 Staff Costs Iwntlnuedl The avèrage number of employees d¥rire theyeaT in the following tategorits were: 202> 2022 Charitable activit¢es None received remuneration amountingto more than £60.IXY) durin8 the year Tru5tee5' remuneration 2023 20Z2 Emoluments paid to tNstees amounted to tkJrin8 the year retirement benefits wefe accrutng to no trustees in respert of pensson schemes 12 Adventist Radio London Notesto the Financial Statèments Forthe year ended 31 De"ce•nber 2023 Tangible Fixed Assets PToperty OpÈrntion¥l imwo¥ements Equtpment "Total Co As at 01 January 2023 Additions Disposals As at 31 DeceinbÈr"2023 38,383 54.897 16.514 Depre¢iatio As at 01 January 2023 Charge for Year On Disposaks A5 at 31 Oecember 2023 13.924 {I,tsii 13.353 1.500 27.277 369 14.853 27,646 Net aook Value As at 01 January 2023 Asat 31 ilecember 2023 27.620 Debtors 2023 2022 Dye within one year Amounts owed by relaied charit￿5 Total Adventist Radio London No￿$tOthe F•iaAcial staten￿nts Forthe yea.r ended 31 Decernb￿ 2023 10 Creditors: Amowts falllng due withln ¢ffie ye¥. 2023 .2022 Due to associated charities Actrued expenses 24.406 1..7( 17.415 1,705 11 Related party transact￿5 The charity 15 operated by the South England Conference of Sèver+th-day Adventlsts whose office is at 25 St Johft5 Road. Watford. WD17.IPY South En8land Conferenc Total 2023 Total 2022 Giants Received Amounts due by tharity < l year 84,986 14