RADIO MARIA ENGLAND NANCIAL STATEMP.Yrs FOR THE YEAR ENDED 30TH JUNE 2024 coKrENTS AND CHARITY INFORMATION CONTENTS: PAGE: Reference arAd Ad]nistrative Details of the Charity, its TnLSte¢s and Advisers Trustees, R¢port tndependent Examinels Report Statement of Financial A¢tivkli¢s io Balance Sheet Sthtement of Cash Flows 12 Notes io tbe Financial St&iements
RADIO MARIA ENGLAND PAGE I FNANCIAL STATEMENTS FOR THE YEAR EYDED 30TH JtfNE 2024 REFERENCE AND ADMINISJ]IATIVE DETAILS OF THE CHARITY. rrs TRUSTEES AND ADVISERS TRUSTEES: A D Oyenirdn Rev S Park PAJThomas Dr K N SitigAra)tr N D Parker I Paolucci (Chair) CHALUTY REGISTERED NUMBE]L. IISJ783 PRINCIPAL OFFtCE.. Suites I S 1st Floor, Lin¢oin Hous¢ The Paddith Cambridge CBI 8DH INDEPENDENf EXANIINE. Ian W Shipley FCCA For alld on behalf OP. Prenti5 & G) l.l.P Chartered Aeeount1ts & independent Examiners I Ifc Milton Road Cprnbridge CB4 IXE CAF Bank Lxd Kitigs Hill West Malling ME19 4TA
RADIQ MARIA ENGLAND RADIO MARIA ENGLAND PAGE 2 FtNANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2024 TRUSTEES. REPORT The Trnsiees present their annual report together with the financial statements of Radio Maria England {the charitable snCotporad organi8ation {'the CIO'I) for the year 1st luly 2023 to 30th June 2024. The Trustees confimi that the report and financial slatemenL% of the CIO comply with the Current statutory requireFnenls, the iequiremenis of the CIO'S governing document and the provisions of the Siatemeni of Recommended Practice ISORPI, applicable charitieb preparing their accoullis in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 Isecond edition of the Charities SORP (FRS 1021 October 2019. effective 1st janLry 20191. OWECTIVES AND ACTIVITIES Radio Maria England Annual Report 2023-2024 Radio Maria EKglund is vegist8red ivith the Charity, Cominissinn for England and Wules as a Chariiable Incf)vpnvated Orgafr7i5afion, wilh Regisiered C'kurity Number 1183763. The aim ol'Radio Maria England is to advance the Catholic Faith in England, and promote th¢ evangelical message of Joy and Hope, according to the leaching of the magisterium of the Catholic Church, within a rich Marian spirituality. The founding purpose and aims of Radio Maria England are therefore social apd philanthropic. The following is an extract froTn a letter we received from a listener in the last year.. M)'fuiih in Chyisiidnity has heightgngd. ThankyoufJr Sirengihellg our FL7i¢h in God. o m051 wonderfi¢l 5erviLe. which we enjoy very muchfrvm Corrtwall And another from a recently released prisoner.. As we werg coming oiil of covid lockdown bul 51111 highly vestricted IF7 t¥rm5 uf lime oui i?f (jiir ¢¢11, somgopje etIond I could in fu yuur sr(tiii)4. li was ihen still 15 I71JW. ffty c()Inpu{ ihroiigh difficuli lime5 pri50n... Ihe.siticiiire nfpviryer hL7S held me in good5teud. I 10 pray the office with ihg DominicunJ dully. Thank you. J don'l thik7kTrou rvuli5e ihe impaciyou are haV{s onprisoner5 (Jn a daily basis. The fifth year of Radio Maria England {July 2023- June 2024} has seen a period of restruciuring in the light of the ending of the lease gf the present Cambridge Sludio in January 2025 and the recentring of ihe aciivities on the London studio. The World Family has made clear its continuing financial Commitment to Radio Maria England but believes thai Radio Maria Enuland's core operations should be based in the nation's capital, (like oiher Radio Maria stations around the world), particularly given the size of l.ondon's populatiun. The Tru5tee5 have reviewed the objectives and activities of the CIO and consider they are in accordance with the Charity Commission guidelines on public benefit. Financi81 'ear 2023-2024 Followin¥ a slow start to Ihe year, Ihere was a solid growth in donations in the third and fourth quart¢r of the year. -rhe balance at the end of the year M'as ov¢r £145.000:the ioial income for the year wa5 £670,1?9. Overall operational costs remained under budget but additional costs are anticipated for the end of 2024 for the new Cambridoe studio. The strong perfortnance wa5 due to major privaie donaiions. grants and the 200 Siars campaign launched in October 2023. Website.. htt radiomariaen land.uk Radio Maria England, Lincoln House, The Paddocks Busine55 Centre Cherry Hinton Road, CAMBRIOGE, CBI 80H
RADI(J MARIA ENGLAND RADIO MARIA ENGLAND PAGE 3 FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2024 TRUSTEES, REPORT The 200 stars campaign was successful in Creating a solid group of gen¢rous investors. but we require an expansion of our regular small donor base in the coming years. Over the last year it is to be noted that the number of donors has nearly doubled (404 compared with 214). the total number of contributions ha5 almost tripled and the frequency of donation5 has increased. The target over the coming year is to try and generate a regular income of £15,000 a monih. Staffkn Chan During 2024, our London siudio has gradually become our principal studio. with the editorial staff based there from April onwards. A5 part of the restructuring process interviews for the editorial and promotion and fundraising position5 look place in January 2024. This has resulted in a reduction in the number of siaff from 8 in July 2023 to 6 in June 2024. Priest Director.. Fr Toby Lees, OP, was appointed to start in July 2022 on a 3-year contract. continues as Priest Director,. his contract expire5 June 2025. erations Coordinator.. Mr Pierre Petrou, was appoinied at th¢ end of January 2023 and continues in this position. Editorial Slaty.. Ms Elizabeih O'malley was appointed as Ediiorial and Programming Manager in January 2024. Mr Tim Hutchinson was appointed as an Editorial Content Assistant in January 2024. Fundraisin Protnotion & Event5 Staff.. Mrs Helena Judd was appointed as Fundraisin Promotion & Events Mana Anna Flei5cher was appointed as Fundraising Assistant. e5 er in January 2024. The World Family of Radio Maria has supported u5 Wlth the training of staff with regular online meetings. ital atkd internet Covera Our present digital transmission continues via DAB* in London. The present contract with SwiichDigital will be due for renewal in October 2025. We have continued digital coverage of Cambridge, Bristol and Souih BinninghaFn areas io which was added the Stockport and Souih Manchesier commencin¥ on l May 2024. Promotion throughout the areas covered is continuing to increase the number of listener5 over the next year. Year hi hts Ivorldwlrfe RrfJ.fory rh Otiober 2023 On the fea%t of Our Lady ol-the Rosary, Radio Maria Enuland organised a pilgrimage walk from Tyburn Convent. Ihrough Regeni's Park to Ihe Rosary Shrine. Over 100 look part, prayin¥ the rosary on the way for world peace. This wa5 followed by a WOTldwide rosary, broadcast to all the Radio Maria5 of the world, prayed in the beautiful Rosary Shrine, acconipanied by sacred music from ihe tal¢nted Rosary Shrine singers. Webslte.. hltps.. radiomariaen land.uk Radio Maria England, Lincoln House, The Paddocks Business Centre Cherry Hinton Road, CAMBRIDGE, CBI 8DH
RADI(J MARIA ENGLAND RADIO MARIA ENGLAND PAGE 4 FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2024 TRUSTEES, REPORT 't* The Chosen London retniere- Januar 2024 Fr Toby Lees attended the London premiere of ihe Chosen and interviewed several of it5 principal actors for Radio Maria Enuland. Subsequently several film evenings have been held ai Si Dominic's that have proven very popular. Radio M8ria En land Coneerts Two concerts were organised at the Brompton Oratory by Christian Jenkins and Rachael Shipard in lat¢ 2023 2nd early 2024; these proved very popular and were successful fundraising iniiiatives. Tliese concert event5 are particularly attractive to a yountser audience and help build up not only ihe cominllnity of Radio Maria England bui its volunteer base. Other events hawt Encluded quiz nighrs and invited famous speakers such as Marino Resirepo and Fr Jim Blount. Webslte.. htt radiomariaen land.uk Rèdio Maria England, Lincoln House. The Paddocks Business Centre Cherry Hinton Road. CAMBfllOGE, CBI 8DH
RADIQ MARIA ENGLAND RADIO MARIA ENGLAND PAGE 5 FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2024 TRUSTEES, REPORT 4nderings Chrltrlldn l¢Jiikiiis R(ILliavl Sliipdrd A iiethr aThJ 0 Recital Wa of the Cr05s in Care Homes- Lent 2024 For 6 consecutive Fridays during Lent, volunteers and a priest or deacon visited care homes in the Cambridge and London areas and broadcast ihe Stations of the Cross. Residents were able io follow and accoinpany Jesus in His Passion of the Cross. Many listeners commented that they found the voices of the residents very moving. This was combined with a catnpaign to donate DAB radios to the residents. Mariathon for Radio Mari8 India Andnra P8dresh In May 24, a -Mariathon' raisinu fund5 for Radio Maria India Andnra Pradesh was undertaken and we raised over £7,500. Fr Toby wrote 'lt was such a blessed time in the life of our radio sration, and it was a beautiful experience to see so many people come together io raise money for our radio family in India. The concert on the final night with 99.one was a particular highlight. Web51te'. htt radiomariaen land.uk Radio Maria England, LiNcoln House, The Paddocks Bu5ine55 Centre Cherry Hinton Road, CAMBRIDGE, CBI 8DH
RADIQ MARIA ENGLAND A i-1iristl4111 Kiiiii. E5i' I'Liur 4iLII' RADIO MARIA ENGLAND PAGE 6 FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2024 TRUSTEES, REPORT 200 Stars of Kadio Maria I'he 200 stars campaign has been the main fundraising activity over the year and has been marked with special evening ev¢nts on the 25ih March and 24tli June with a sung Mass and evening re¢¢ption. These were well attended with over l 00 people and generaied significant interest, The concept of '200 stars, was initially inspired by a Radio Maria volunteer and friend Karen O'callaghan, who met with our Presideni, Dr Charles Wilson, earlier in 2023. Charles expressed hi5 financial concerns for Radio Maria to Karen, who recalled a fundraising initiative in Medjugorje that had sprung up from a pilgrim's heart. Karen became Radio Maria's first 'Star and iold Charles thai he only Deeded to find 199 more donorsl To become a sr one can either make a one-time donation of £IOOO to Radio Maria England or make a regular donation of £100 a month for at least one year. Webslte.. htt radiomariaer) land uk Radio Maria England, Lincoln House, The Paddocks Business Centre Cherry Hinton Road, CAMBRIDGE, C818DH
RADIQ NARtA ENCLAND RADIO MARIA ENGLAND PAGE 7 FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2024 TRusfEES' REPORT Financial im Income.. The donated income over the last year has been just over £268,500 with a succe55ful Mariaihon campaign for Radio Maria India. This is a marked improvement of the last financial year but there needs io be maintenance of the inc8$¢ in regulai donaiions over the coming year. act RME continues to be susiained by a grant from the World Family of Radio Maria, but we aim to at least double our income in the coming 24 months and to become self-sufficient in the next 3 to 4 years. Out oin The major outgoings are still divided into 3 areas.. staffing. digilal irdnsmission and premises. The restructuring of our staff to the London smdio has resulted in a fall in overall staff lluMbe. The developtnent in small scale DAB transmission was tnode5t this year. The Cambridge studio Service charges have also significantly increased but the lease to the Cambridge studio expires in January 2025 and will not be renewed. A new location is being soughi bui wilh reduced costs envisaged. The trustees seek to coniinue with our in-house accouniing. This has been successfully overseen by the Treasurer. Mr PeteT Thomas, from July 2023. STRUCTURE, GOVERNANCE AND MANAGEMENT Con5titulion Radio Maria England is a tharitable incorporated organisation formed on 7 June 2019 and is governed in England and Wales by a constitution of the same date. Tru5ttes The management of the CIO is the responsibility of the Trustees who ar¢ ¢le¢ted and co-opted under the ternis of the CIO Foundation document. The Trusiees are appointed in order to bring expenise and specific skills to the CIO. The Trustees during the period were.. A D Oyeniran Dr C B J H Wilson (resigned 14 October 2024) P O Geach {resigned 16 September 2024} S R Taylor (resigned 14 June 2024) Rev S Park P A J Thomas Dr K N Singarayer N D Parker L Paolucci (appointed 21 February 2024} Governan¢¢ The board of trustees incTeased 10 9 with the appointment of Mr Inti Paolucci on 21 February ?024 but fell back to 8 with the resignation of Ms Sarah Taylor on ihe 141612024. Website.. htt iadiomariaen land.uk Radio Maria England, Lincoln House, The Paddocks Business Centre Cherry Hinton Road. CAMBRIDGE, CBI 80H
LNCI 4140 Il Lliri4ljclll VviiL 11), 7(iiir 5iLII'. PAGE 8 RADIO MARIA ENGLAND FtNANCIAL ST.4TEMEhTS FOR THE YEAR ENDED 30TH JUNE 2024 TRUSTEES, REPORT Trntee meeting5 were beld the 18.17,,?023. 5,'9Q02J, 13110r23. 1311 IQ3. 6112r23, 101 In4, 21?4, 1714ll4, 1916n4. All meettngs were quorate (minimum of i}, the attdance record of trusttts is incticated tn brack¢ts the list below. All trustees have been mlde awar¢ of the Charity CoMmi&10n newsl¢tt¢r and the Charities Act 2022. The preieni board consists of the fLillowing 8 ttustees (given here with rheir sphere of actiyity).. Dr Charlea Wilson- Chair and Prebidene of Radio Mari& England (919) Mr Domiryie Oyeniran-IT lead (519) Ms Sarah Taylor- Secretary (818) resigned 14V6124 Mr Peter Geach- Legal affairs (4.f9) Fr Stefan Park- Religious affairs1&19) Mr P¢terThomas - Treasurer (919) Dr Karen Singarnver- Promotioll London area (7<9) Mr Nigel Parker- Public relations London &rea (819) Mr Inti Paolueci - FLmdrnising from 21,W24 (3i31 Board meetings will be held eighr-weekly in 24-25. STATEMENT OF TiiUSTEES' EiESPONSIBILITIES The Trusreea are Yspon5ible for preparino the Truste¢5 Report and the financial statements in accordan¢¢ with applicable Law ar.d United Kirngdotn AOUntIng Stsndards IUThÉted Kingdotn GetLerdlly Accepted Accounting Pra¢ti¢el. The law appliGabl<• to charities ID England and Wales requires the Trustee5 to ppare financial statements for each fall¢la1 year "hICh give a true and fair view of the stsie of affairs olthe CIO and of its COMIn5 resources ttlld application of resources, including its income 8nd exrditsjre, for that peri(Kl. In preparing the5¢ [ancial stttejnents, the rtijstees are requtredto: select $uitabl¢ ac£ounting policies and then apply them consistently,. observe the methods and principles of the Chariiies SORP (FRS 10? . make judgements and accountin8 e5tillLate5 thai arE r0tble ad pntdentr state wh.ther applicable LK Ac¢otJnting Stsnd&ds IFRS 102) have been followel subject to any aterial departLtres disc195ed and explained in the firwicial statefftents,. prepare tb.e financial stat-ments OTh the going concern basis unless it is inappropriate to preswlle that the Charity will continue in busitkes5. The Trustees are respoThsiTrle for keeping adequate aceouoting".ecords that are Sufficient to show and ekpLain the Charity's tTansactions and digclose with reOnable accuracy at any time the fillancial position ofthe Charity and enable them io ensure that the fttwicial Statements comply with the Charities Act 2011, the Charity (AccouThts and Eieports) Regulations 2008 &nd the provisions of the Tllt Deed. They are a150 responsible for safeouarding Ihe assets of th.e Chayi ty and hence for taking rtrdsonable steps for the prevention and det¢¢lion of fraud and other tttegutarities. Approved by Order of the m¢mber5 of the Board of Th]stees aDd signed on their behalf by.. P A J Thomas Date.. I Paolll¢¢i Date.. Webslte.. https.. land.uk radiomariaenL. Radio Maria England, Uncoln Hovse. The Paddock5 Busine55 Centre Cherry Hinton Road, Q4MBRIDGE. C818DH Ch4rily Piui))ber 1182783.
RADIO MARIA ENGLAND PAGE 9 FINANCIAL STATEMEKrs roR THE YEARENDED 30TH JUNE 2024 INDEPENDENf EXAMINER'S REPORT TO THE TRUSTEES OF RADIO MARIA ENGLAND I report on the financial statements of the Charity for th¢ y¢ar ¢oded 311th June 2024. RESPONSIBILrriES AND BASIS OF REPORT A$ the TrStee8 of the Charity you are r¢sFMTrnsible for the pttparntion of the accounts in accordance with the rEquire]n¢nts of tbe Charities Art 2011 I'tlke Act?. l Teport in respc£t of my examination of the Charity's accounts Carried out und¢T 5.145 of tbe 2011 Aci and ID carrying out y examination I have followed all th¢ applicable Directions given by the Charity Con]mission under s. 145(5)(b) of the 2011 ACL INDEPEIYDENT KXAMJf4ER'S STATETh P4 Since the Charitgs gross incotne exceeded £250,000 your cxaminer must be a member of a body listed in section 145 tsf th¢ 2011 Act. I confjrni that l am qualifj¢d to undertake the examination becaLse I am a rnllber of the Association of Chartered Certified Accountallts. I have rompleted Y examination. I confinn that no Tn&t¢S hav¢ eome to my attention An connection with the examination giying rne cause to believe that in any ]naterial respect.. accounting r¢¢ords were not kept ill wect of the Charty a5 required by s. 130 of the Act. or the accounts do not accord with those records.. (Trr the accounts do not comply witb the applicable requirements CODceming thc fom and content of tbe aCu15 s¢t out in the Chariucs (Accounts and Reports) Regu]ations 2008 other than ally reqvirement that the accounts give a Iru¢ and fai view wbich 15 not a matter considered as part of an indewE]deTrt ¢xaTnsnation. I have no concerns and have corne acro&8 no other matters in conntiOn with the examination to which attention should be drawn ll) this report iti order to enable a proper understanding of th¢ a¢¢ounts to be reached. This report is nwde solely to the Charitys Trustees, as a W, in acrda1) with Part 4 of the Charities (Accounts and R¢port3) Regulations 2008. My work has b¢ell undertak¢n so that I might to the C]wity's Trustees th05e matters l atll required to state to thun in an Independent Examin&s Repon and for no other purpose. To the fullest cxtent pemitted by law, I do not accept or assume reswnsibility to anyone other thats the Charity and the c.haritys Trustees a5 11 body, for my work or foT this r¢porL IAN W SHIPLEY FCCA FOR ANI) ON BEHALF OF: PRENTIS & CO LLP CHARTERED ACCOUNTANTS & INDEPEhDEliT EXAMINERS I Isc Milton Road Carnbridge CB4 IXB
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RADIO MARIA ENGLAND PAGE 11 riNANcL STATEMEKfs FOR THE YEAR ENDED 30TH JLfNE 2024 BALANCE SHEBT Notes 2024 2023 FIXED ASSETS Tangible fixed assets 210,660 311,644 CURRENT ASSETS Debtors Cash &t Bank and in hand 10 85,967 145,861 89,515 54,089 231,828 143,604 LIABILITtES CreditDrs'. amouDts falling due wittlin one year li (35,628) (4l.653) NET CURRENT ASSETS 196,200 101,951 TOTAL ASSETS LESS CUIUIENf LIABIL[rS Provisions for liabilities 12 406,860 (10.000) 396,860 413,595 (10,000) 403,595 TOTAL A&SETS CHARITY FUNDS: Restricted Funds Unrestricted Fund5 13 7,533 389.327 364,079 403,595 TOTAL FUNDS 396,860 The fillancial statements were approved and authorised for by the Trttgiees and signed OD th¢ir behalf by.. and signed OTh their behalf. P A J Thomas Date.. PtsTA I Paolueci 13/11/102+ iJ/L4lkzq The notes on pages 13 to 21 fonn pt of these financial statements.
RADIO MARIA ENGLAND PAGE 12 FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2024 S'IATEMENT OF CASH FLOWS Notes 2024 2023 CASH FLOWS FROM OPERATING AcfiviTIES Net cash used in operating activities CASH FLOWS FROM INVEsTif¥G ACTIVMKS Dividends. int¢Sts and rtllts from itivestmet Purch&8e of iallgible fLxed assets Proceeds from disposal of tangible fixed assets r4ET CASH USED IN IThWESTING AcTIVIs 15 83251 {62,822) 1,538 745 (57,613) 6.983 8,521 (56,868) CIL4NGE IN CASH AND CASH EQUIVALEf*TS IN THE YEAR Cash alld cash equivalents at th¢ beginning of the year CASH AND CASH EQUIVALETrITS AT THE Ehl) OF THE YEAR 91,772 54.089 {k19,690) 173,779 16 145,861 54,089 The notes on pages 13 to 21 fomh part of these financial statements
RADIO MARIA ENGLAND PAGE 13 FANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2024 NOTES TO THE FINANCIAL STATEMENrs ACCOUNTING POLICIES 1.1 BASIS OF PREPARATtON OF FINANCIAL STATEMENTS The financia] stateinents have been pr¢par¢d in a¢¢ordan¢¢ wtth th¢ Charities SORP (FRS 102)- Accounting and Rewrting by Charities: Statement of Recommended Practice appli¢abl¢ to Gharities prepIng their accounts in a¢cordaDce with th¢ FinanciBI Reporting Standard applicable in the UK and K¢pubtic of Treland Rs 102) (elTective 1st January 20191 the Financial Reporting Standard applicable in the UK and Repubbc of Ireland (FLS 102) and the Cbaritie5 Act 2011. Radio Maria England meets the definition of a public E*nefit entity under FRS 102. A&sets and liabilities re initially recog[Lid at historical c05t or trdnsaction value unless othenvise stated in The relevant accounting poliev. The fancIal Stat¢llTrts hav¢ been pr¢pared in sLerlin& which is the functional CUncY of the cbarity. 1.2 GOING CONCERN The TrustPC3 have rtviewed the finallGial p05iiion of the Charity aDd have reasonable expectation th&t the Charity has adequate resources to continue in operational existence for the foreseeable ture. Accordingly, the fmanciaj sta¢emeuts contiDU¢ to be PTq)ared ou the going concern basis. 1.3 INCOME All income is recognised once the Cbartty bas entitlementto the income, it is probable that the income will be received ynd th¢ amount of income r¢ceivabl¢ wi me&gured reliably. Donations are reco)]5¢d by th¢ Chty uw)n r¢1pt. On receip( donated items, SeIc¢S and faciLtties re¢ogwsed on th¢ basis of the value of the gift to the Chlty which is lh¢ arnoulll it M""ould bale been willing to pay to obtain setvices, items or facilities of equivalent economic benefit on the open market,. a cOeSPondIng amount Ks then recognised in expellditu in th¢ p¢riod of receipt. 1.4 EXPENDITURE ExndItUre is recognised once there is a leoal OT consln]ctiYe obligation to trnnsfer ¢¢onomi¢ benefit to a third party, it is probable that a traELsfrr of ¢u>nomic benefits will be required in settlement and the nout of tbc obligation catt be measured reliabty. Expenditure is classified by &ctivity. All expenditure is accounted for on an accn]als b85is. All ¢xp¢ns¢s in¢luding support costs and governance costs are allocated to the applicable expendibjre headings. Support sts including governance costs are those w5ts dir¢¢tty incurred iTh 544)port of expendiiure on the objeruves of the ChaTity. DAB and licencillg costs are those costs iTjCuTr ID allowing the broadc&5t of th6 radio Statio alld are incu monthly in advallce. Arnoullts paid iti advattcc are ratried fonvard within pr¢pa>qnents. Govemance costs are those incurred in connection with adlt]istration of (hE Charity and coMpliace with constitutional aud stOry r¢quiT¢m¢nts. ITrecoverable VAT is ¢harg¢d agaiDstth¢ eXpendits heading for which it wa5 itiourred. 1.5 tbrrEREST RECEIVABLE Int¢re5t on filnds held ou deposit is included receivable alld the atnount can be measured rcliably by the Charity: this xs nornmlly UEKTrn notification of the interest patd or payable by the institution with whom the furLds are deposited.
RADIO MARIA ENGLANU) PAGE 14 FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2024 NOTES TO THE FINANCL4L STATEMENrs 1.6 TANGtBLE FIXED ASSEfs ANU) DEPRECIATION Tangible red assets are carried at COSL net of depreciation and ally provision for impairnient. Depreciation is provided at rates Ca]lated to writ¢ off the cost of fixed assts, less their estimated residual value, over their ¢xpecled usefill lives on the following bwis.. Studio r¢rbshrne1 Fixtures and fittings Broadcasling ¢quipment Computer equipment IT and telccotn equipm¢nt - 4 years straighi line - 3 year5 straight line - 7 years straig1 line - 3 years Strdighi lin¢ - 3 years straight line 1.7 DEBTORS Trade and other debtors are recognised at the settlement amount after atty trade discount offered. Prepayments are valued at the amount prepaid net of aoy trade discout)ts du¢. 1,8 CASH AT BANK AND IN HAND Cash at bank and in hand inrludes c&%h alld shot1-term higbly liquid investments with a short maturity of three months or le&s from the £late of acquisition or opening of the deposit or similar &c¢ount. 1.9 LIABILITtES Liabilities ar¢ recogtiised when there 15 an obligation * the Balance Sheei date as a result of a pagt event, it is probabl¢ that a transfer of ecottomic benefitwill be required ill settlement, and the &mount of the settlement can be estirnad reliab]y. Liabilities are recogllised ai the amount that the Charity anticipates it pay to settle the debt tTrr the amouttt it has Teceived advanced pa>rynents for the goods or services it must provide. Provisions are measured at the best estimate ofthe amovnts required to settle the obligation. Where the eff¢¢t of time value of money is material, th¢ proYisioD is based on the present va]ue of those aTnounts, discounted at the pre-tax discoulli rate that reflects the risks specific to the liability. The unwinding of the discouni is recognised in the Stst¢menl of Financial Activities &5 a fjnance cost. 1.10 OPERATtNG LEASES Property rentals widcr opernting leases are dwged to tbe Statement of FinaLGial Aciivities on a straight line basis over the Ivdse m. . I I PENSIONS The Charity opeJ7tes a defined contributiOD pe])3ion heMe and thc PEnsion charge represents the wnoullts payable by the Charity to the fund in r¢5 of the year. 1.12 FUND AccouNfING General fimds arE unrE51rictEd funds whicb are available for we at the tti5cretion of the Trustees in fierall¢t of the general objectiv¢s of the Charity aThd which have not been desigllated for other purp05es. Designed fvnds ci)mprise uDrcstrtcted funds that have been set asid¢ by the Trustees for particular purposes. The al aud we of each designated fid is setOLLt in the notes to the fmallcial statements. R¢*ricted fi]Thds ar¢ filllds which are to be used ID accordance with Slfi¢ r¢strictions itnpoged by donors or w'bich have bcen rdised by the Charity for p8rticu]ar purposes. The costs of raising and administering such fid5 are charge41 against the specific fid. The aim and use of each restriGted fllttd As set out in the note5 to the firl¢la] ststeTnents.
RADIO MARIA ENGLAND PAGE 15 FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2024 NOTES TO THE FINANCIAL STATEMENTS INCOME FROM DONATIO.YS Current yr Unrestri¢ted Restricted Total Funds Funds Funds 2024 DONATIONS World Family of Rodio Maria. Italy Other donations 398,618 252,979 398,618 269,202 16,223 651,597 16.223 667,820 INCON FROM I)ONATIONS Prior year Unrestricted Restrscted Totsl Fundi Funds Fwids 2023 DONATIONS World Family of Radio Mari4 Italy Other donations 416,757 55,447 416,757 122,483 539.240 67,036 67,036 472204 INVEsTNT INCOhIE Unrestricted Total Fu]S Unre5tri¢tEd Total Funds Funds 2024 Futtds 2023 Bank interest 1.538 1,538 745 745 OTHER INCOME Unrestricted Total Futtds Unrestricted Tothl Funds Funds 2024 Funds 2023 Sale of editorial products 295 295 ANALYSIS OF ExPENlTURE BY AcrivrriES Activilies undertsJ(e dirKtIy 2024 Support cogts 2024 Total Funds 2024 Radio bToadcastiThg 672,338 4,526 676,864 Attivities ndertaken directl> 2023 Support Costs 2023 Total Funds 2023 675,706 11,378 687,084 In 2024 £29,552 (2023". £81.674.) of expenditUTe was met from restrictEd fid8 with the balance being met fron ut)restricted funds.
PAGE 16 FtNANCIAL STATEMEKfs FOR THE YEAR ENDED 30Th JUNE 2024 NOTES TO THE FJNANCtAL STATE(EYrs ANALYSIS OF EXPLNi>rtURE BY Acrivi. continued NALYSIS OF DIREC[ COSTS Total Funds Totsl Futth 2024 2023 Staff ctssts Project wsts DAB aTLd lieencing costs Office and studio expeDses Websit¢ D]ailltellallcE and computer costs Rent General rat¢s TElephone Insurdllce Travel attd Subsistence Bank charges Depreciation Sundry expenses Exchange rate loss Do]rations to World Fat))ily 229,852 1,987 213,207 26,060 2,260 73.796 2,175 10,345 2,999 1.152 102 94,477 300 268,143 9,039 193,969 23,224 5,966 56,726 1,914 5,293 2,805 6,423 343 101,681 23 157 13,626 672,338 675.706 ANALYSIS OF SUPPORT COSTS Totsl Funds Total Funds 2024 2023 Payroll proctS5iDg Gosts Dil&pidatlOD- Interest char.oe Accountallcy fees {governance) 943 1,304 60 10,014 3,583 4.526 11,378 INDEPENDEIYT EXMINER's REMUNERATION 2024 2023 Fe¢s payabl¢ to the ChaTltYs indwdent examiw in T¢spect ofr. Independent EKao]illatiott AccoutttanLy services and b(x)kkeeping 2,870 1,656 2,778 7,236 STAFF COSTS 2024 2023 Wages and salaries SwiaL security Gosts other10 c08LS 213,450 8,060 8,342 235.980 23,026 9,137 268,143 229.852 ThE average ftwnber of pcrsong employed by the Chlty during the year was as followB'. AverdEe llumber of employee8 2024 2023 No. No employee received r¢munerdtion amounting to nM)re thm £60,000 in eith¢r year.
PAGE 17 FINANCIAL STATEMENfs FOR THE YEARENDED 30TH JUNE 2024 NOTES TO THE FINANCIAL STATLIqEKrs TRUSTEES. REMUNERATION EXPENSES The Ciwity COll8iders it8 key managernent personnel to be the Trustees. The TrustE¢S giye ail their time and extErtise without any forn of remuneration or otber benefit in kin Durittg the year, no expen were reirnbur8¢d to tttsyTrnstee. In 2023 £551.20 w&8 reimbursed to a Ttee for trayelling exwes relating to the Science and Fai(bprojecL TANGIBLE FIXED ASSETS Currellt year short.tum le&8ehold FixbJre8 Conuyuter Oth¢r fLxed ptDpeny and fittings equrptllent 2024 Total COST OR VALUATION Ai Isi July 2023 Disposab Ai 301b June ?024 243,130 7,816 13,154 274,127 538,227 (6,983) (6.983) 267,144 531,244 243.130 7.816 13,154 DEPRECIATION At 1st July 2023 Charge for the year EliTni]Jated on dis] At 30th Jllne 2024 109.622 53,731 5.628 1293 10,699 I,290 I),634 226,583 38,163 94,477 {476) (476) 138,321 320,584 163,353 6921 11,989 NEf BOOK VALUE At 30th June 2024 79.777 895 1,165 128,823 210,660 At 30th Julle 2023 133.508 2.188 2,455 173,493 311,644 TANGIBLE FLKED ASSETS Prior vear Short.Éenn leasehold FixbJre8 Compuler Other fJx6d property and fittings ¢quient assets 2023 Total COST OR VALUATtON At Isi July 2022 Additions 234.929 8,201 6.701 1,115 11,139 2,015 13,154 227,845 480,614 57,613 At 30th lune 20•3 24J,130 7.816 274.127 538.227 DEPRECIATION At 1st July 2012 CharEe for the year At 30th June 2023 50,171 59.451 3,402 2,226 8,371 2,328 62,958 37,676 124,902 101,681 5,628 10.699 100,634 226,5S3 NF.T BOOK VALUE At 30tEL June 2023 133.508 2,188 2,455 173.493 311,644 At 30th June 2022 184.758 3299 2.768 164,887 355,712 io. DEBTORS 2024 2023 DUE AFfERMORE THAN ONE YEAR Other debtors 25,200 44.600 25,200 44,600 DUE NNThHtN ONE YEAR Prepayments and a¢¢rued incoll Other debtors 41,367 19,400 44,915 85,967 89,515
RADIO MARIA ENGLAND PAGE 18 FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2024 NOTES TO THE FINANCLAL STATEMENTS ii. CREDITORS: AMOUNTS FALLING DUE WTnllN ONE YEAR 2024 2023 Trade creditors Other tsxalion and so¢iAI security Other creditors Accruals and deferred ittcome 29,900 2,028 618 3,082 35,628 32,379 6,040 185 3,049 41.653 12. PROVISIONS Proyision for dilapidation 2024 2023 At Isi Ju]y Additions 10,000 9,940 60 At 30th June 10,000 ID,000 13. srATEMENT OF FUNDS Current year Balance at Isi July 2023 Income Expendire Balance at 30th June 2024 Trdllsfer irNRESTRICTED FUNDS GENEIiAL FUNT)S Gen6rAI Fund 364.079 653,906 653,906 (647,312) (647,312) 18,654 389,327 TOTAL UNRESTiucfED FUNDS 364,079 18,654 389,327 RESTRICTED FUNDS Worldwide Mariathon 2022 Dominic's Half Marathon Science and Faath wa15ingknd Pilgritnages Local Mariathon October 2022 Worldwide Mariathon May 2023 Give a Radio Radio Maria Austria Iworldwide Mariathon) Worldwide Mlath0n May 2024 3.319 50 4,11 33 2,758 6,660 147 (3,466) 150) (2,089) (2,021) {33) 1,389 500 6.785 (4,147) (10,160) 3.000 (234) (6,551} (9,170) (13.416) (286) 417 (29,552) (18,654) (676.864) 22,586 7,402 7,533 39.516 16,223 670,129 7,533 396,860 TOTAL FUNDS 403.595 Worldwide MariathoTh May 22- to raise D)on¢y for the World Family of Radio Maria to support the Radio Marias in I.atiilli Nazareth, Nig¢ria aud bTrraille Domini¢'$ Half Marathon- to nise mone> for Radio Ilaria England Science and Faith- to support a project celebrating th¢ work of faithful scientists, aiming to create spaces of engagement around sciellce and theologi. Walsinghatn Pilgrimages- to hold funds for walking pilgrimages frorn Carnbridge to Walsingham organised jointly with the Diocese of East ADglia's Diocescan Youth Savice cal MariatlLon October 2022- fundrdi5ing event for broad¢a5tingn¢w dev¢lopm¢nts Worldwide Mariathon May 2023 - to rdise money for the World F8mily of Radio Mla to support Radio Maril Nigeria Give a Radio- to help listeneES obtain radios and be abl¢ to e1ve Radio Maria England, includtng providing radios to those in need Radio Maria Aknstria Iworldwide Mariathon)- mones, provided specifically for South Birmingham (Small Scale Digital Broadcasting), for our Lojjdon Stydio and to part fund the purchdse ofradios Worldwid¢ Mariathon May 2024- to raise molley for the new Radio Maria tn An(Ihra Pradesh. tndia The lttvegttllent Fund was for 5ubsidi&% received from World Family of Radio Maria, Italy for the putpose of capital ir)vestm¢nL
RADIO MARIA ENGLAND PAGE 19 FINANCIAL STATEMwfs FOR THE YEAR ENDED 30TH JUNE 2024 NOTES TO THE FINANCIAL STATEMENTS 13. STATE.MEI¥T OF FUNDS- ¢oDtiDued Prior year Balance at Ast July 2022 Income ExpEndithre Transfer BalancE at 30th June 2023 UNRESTRicfED FUNDS DESIGNATED FUNDS Investment Fund 245.061 6,150 (36,373) (214,838) GENERAL FUNDS G¢n¢rnl Fund 285,208 466,799 (569,037) 181,109 (605.410) (33,729) 364,079 364,079 TOTAL UNRESIIUCTED FtrNDS 530.269 472,949 RESThICTED FUNDS Worldwide Mariathon 2022 Dominic's Half Mardthon Science and Faith Walsingham Pilgritnages LoGal Mariathon October 2022 Worldwide.Mariathon Maj 2023 Give a Radio Radio Maria Austria Iworlthyide Mariathon) 2,852 882 (415) 50 {8,733) (4,730) 1858) (6.480) 3,319 50 4,110 33 2,758 6,660 17,573 891 9,238 6,660 2,119 47,246 (40.9431 (24,660) (81,674) {687.084) 38,824 22,586 20,425 67,036 33.729 39.516 TOTAL FUNDS 550.694 539,985 403.595 Worldwide Mariathon 2022- to raise money forth¢ World Farnily of RadTO Maria to Support the Radio Maria5 in Fatima, Nayareth, Nigeria and Ukraine. Dominic's Half Marathon- io raise money for Radio Maria England, S¢i¢nce alld Faith- io support a piojeclcelebrating the work of faithful scientists. aiming to cieate spaces of engagetnent around science and theology. Wa15itkgharn Pl1lMac5- to hold futt& for walkin" pilgrimages from Cambridge to Walsingham organised joitiily %Yitb tbe Diocese of East Anglia's Di¢sn Youth S¢rvic¢. Local Mariatholl October 2022 - fillldraisi event for broadcLsting/llew developrnents. Worldwide Mariathon May 2023 and May 2024- 10 raise money for the World family of Radio Maria to support Radio Maria Nigeri& Give a Radio- help listeners obtsin radios able to receive Radio Maria IZnglarAI in¢luding providing radi05 to those in n¢¢d. Radio Maria AustrAa (Worldwide Mariathon)- money provided specifically for South Birn]ingkn (Snwll sCe Digital Broadcasting), for our London sti10 and to port fi]nd th¢ purchase of radios, 14. ANALYSIS OF NET ASSETS BETWEEf4 FUF4DS UnrestrictEd Kestrithd Total Funds Funds Funds 2024 Current year TatigiblE rEd assets Debior5 due after more than onc year Current &35ets Creditors due within one year Provision5 for liabilitits and charges TOTAL 210,660 25,200 199,095 (35,628) (10,000) 389J27 210,660 25,200 206,628 (35,628) (10,000) 396,860 7,533 7,533
RADIO MARIA ENGLAND PAGE 20 FfNANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2024 NOTES TO THE FINANCIAL STATEMENTS 14. ANALYSIS OF NET ASSETS BETWEEN FUIYDS . eontlnued Analysis of net assets between fimds Prior ye8r Unrestricted Restricted Total Funds Funds Funds 2023 Tangible fixed assets Debtors du¢ after rDor¢ than one y¢ar Cuffent assets Cr¢ditor5 due withiti one year Provision5 for liabilities and charges TOTAL 311,644 24,175 79,913 (41,653) (10,000) 364,079 311,644 44,600 99,004 (41,653) (10,000) 403,595 20,425 19,091 39,516 15. RECONCILIATIO OF NET MOVEMENT IN FUliDS TO NET CASH FLOW FROM OPERATING Acr1viS 2024 2023 Net incomel(expenditure) for the year (as per Statement olFinaTLcial Activities) (6,735) (147,099) ADJUSTMENTS FOR.. Depreciation charges Profit on disposal of fixed assets DiTrid¢TJds, intrr¢st5 alld rents from itivestments Decreasel(increase) in debtors Decrease in creditors Increase in provision NET CASH PROVll)ED BY OPERATING ACTIvrriES 94,477 (476) (1.538) (745) 3,548 (9,607) {6,025) (7,112} 60 101,681 83251 (62,822) 16. ANALYSIS OF CASH CASH EQUIVALENTS 2024 2023 Cash in hand 145,861 54,089 TOI"AL CASH AND CASH EQUtVALEKrs 145,861 54,089 17. ANALYSIS OF CHANGES IN NET DEBT At 1st July 2023 Cash Flows At30th 2024 Cath at bank and in hand 54,089 91,772 145,861 54,089 91,772 145.861 18. PENSION COMMITLIIEKTS The Chaity operate) a dered contributions pension scben)e. The a&sets of the scheme are held separately frojn those of the Charity in an Indendent]Y administered fund. The pcnsion cost ¢harg¢ represcnts contributions payable by the Charity to the fi]nd and amounted to £8,342 (?023.' £9,137). At the end of tht )tar there w&8 no balance outstattdin(r for pension contribtstions (2022.. no balance). 19. OPERATtNG LKASE COMMJTMENTS At 30th June 2024 the Charity had cOnlI1[Let to make firture minitnum lease payments under non-cancellab opcrating leases as follow5: 2024 2023 Not later than l year Later than l year and not la than 5 years Later than 5 years 45.56 108,411 56,676 135,561 18,411 l53,972 210,648 Le88e payments amomiting to £67.127 (2023: £56.726) have b¢¢n rewgnised as an expense in the StateJlleDt of Ftnanciaj Activities (see also Dote 5).
PAGE21 FINANCIAL STATEMEINTS FOR THE YEAR ENDED 30TH JUNE 2024 NOTES TO THE r.'ANCIAL STATEMENTS 20. RELATED PARTY TRANSACTIONS The Charity ha5 noi entered into any reportable reled partytr8nsactions during the year, and there are no outstanding balances to OT fro]n related parther5.