## **Annual Report 2024** ## **Published at the Annual General Meeting on Sunday 28[th] April 2024** **Charity name:** Radio Forest (CIO Association) **Charity number:** 1201842 **Principal address:** The Hollies, St. Margaret’s Hospital, Epping, Essex CM16 6TN. Radio Forest is a registered charity (CIO Association), the object of the organisation shall be to relieve sickness, infirmity and old age amongst persons living in England by providing a broadcasting service for communities, hospitals, old persons homes and similar institutions. The charities continuing aims are to expand and improve the services that it offers. **Radio Forest Trustees and Committee for the year ending 28[th] April 2024:** Paul Meader – Chairman Paul Mumford – Vice Chairman Mark Wilson-Brown – Finance & Administration Manager Deborah Smart – Grant Funding and Compliance Manager Chris Taylor – Technical Manager David Bartley – Progamme Manager Shaun Burnett – IT Manager Another busy year for all of us and I am so grateful to all members for their continued dedication, hard work, and enthusiasm to produce fantastic radio for our listeners 365 days a year. We have now fully transferred all the remaining assets of Radio Forest Hospital Radio to Radio Forest our new charitable incorporated organisation. A reminder that this change gives Radio Forest a corporate structure, whilst retaining charity status, limiting liability, and maintaining us as a membership organisation. I would like to thank Mark Wilson-Brown and Deborah Smart for all their work on this project. We have welcomed new presenters this year and updated our schedules with new programmes to reflect listener tastes and habits, for example having more live shows at the weekend to allow for more interaction. We now regularly have 14 hours of live content at the weekend, which has not only improved our on-air sound but also seen an increase in audience figures. The Technical team has continued to innovate and improve our facilities, with updates to our kit, audio processing and software. PlusNet, our broadband provider, announced last year that they were closing all business accounts, requiring us to migrate to another supplier for all of our 5 broadband connections. We have successfully now moved 4 accounts, with just Brentwood remaining. This has been a frustrating and time-consuming process for Shan Burnett who has been patient and determined in working on this project. Shaun and Chris Taylor are brilliantly proactive when we have technical difficulties, and I am very grateful for all they do. The SMH League of Friends have continued to support us, and in turn it was a pleasure for a few of us from Radio Forest to attend their spring lunch recently. Chris Taylor has a good relationship with the Brentwood Hospital Friends and recently reported back to them on our activities, which they responded to with continued financial support and our Friends at Saffron Walden have also continued to support us financially and are always enthusiastic about our service. Outside Broadcast PA events were successful last year, with an ambitious Ongar Festival appearance, and other events at Toot Hill and Willingale. There will be a couple of events this summer, which I hope we can all be involved in. As a selffunding charity we are always looking for more funding and ideas, so do let me or Deborah know if you have some thoughts about how we can generate more income. Our two request shows for Forest One and Forest Gold have continued to thrive, and I am grateful to Chris Taylor, Lucy Askew and Gary Dixon for continuing to make these shows an appointment to listen on both stations. Forest One now has more presenter led shows in the schedule, which will expand over the next few months. Forest Gold continues to be expertly curated by David Bartley, ensuring its sound is continually evolving. David puts in so much work to Forest Gold and we are very fortunate to have him as programme manager and station producer. Audience figures continue to be very impressive and our social media activities certainly help drive this. We have experimented with some paid ads on Facebook, which produced a noticeable increase in listeners. My thanks to Paul Mumford and Lucy Askew for their work on Facebook and Instagram posts, they really help make us look like a much bigger, professional operation. The Committee has agreed to apply to OFCOM for a Community Digital Sound Programme licence, thjs licence would enable us to offer Classic Hits Forest Gold to Small-Scale DAB multiplexes. No Small-Scale DAB multiplexes are currently operating in our areas but we are expecting them to come on line later this year. I would again like to thank all the committee who have worked extremely hard on the organisation’s behalf over the last year. We have continued to move forward, and I am personally very pleased with the progress made. ## **The Year Ahead** In the next year, we have the following aims: Provide our services to new outlets To increase sponsorship and grant opportunities Signed: **Paul Meader Chairman/Trustee Radio Forest** **28[th ] April 2024** Signed: **Mark Wilson-Brown Finance Manager/Trustee Radio Forest** **28[th ] April 2024** Charlty reglstratlon number 1201842 RADIO FOREST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2024 RADIO FOREST LEGAL AND ADMINISTRATIVE INFORMATION Trustees Paul Meader Deborah Sm£rt Mark VWlson-Brown Charfty numbèr 1201842 Accountants B8Xter 8 Co Lynwood House Crofton Road Orpington K8nl BR6 8QE RADIO FOREST CONTENTS Pa99 Trustees, report Actounlants. report staternent ol finanual aetivilies Statement ol finanual position Notes to the finanual slalements 6-11 RADIO FOREST TRUSTEES. REPORT FOR THE YEAR ENDED 28 FEBRUAR Y 2024 The tru$lees present their annual report and financial statements for the year ended 28 February 2024. The financial statements have been prePa￿d in accordance ¥wth the accounting policies Set out in note 1 to the rinancial statements and cornply with the ¢h3rity's governing document, the Charities Act 2011 and Accounllng and Reporting by Charities.. Statement ol Recommended Practice applicable lo ch8rilies preparing their accounts in accordanc6 with the FinancAal Reportirig Standard applicable in the UK and Republic of 118land IFRS 1021" (effective 1 January 20191. Objectives and aetlvitles Public benefit The trustees have paid due regard to guidance 155ued by the Charity Comrnis3ion in deciding that activities the tharity should undertake. Achlevements and performan¢e Significant activiligs and achiev8menls 8g8insl objectives The charity provides two services. Classic Hits Forest Radio and Forest One, lor NHS pallents and staff across Essex. There was continued financial support frorn several League of Friends organisalions which acknowledges the on-going demand of the charity's services. Radio Forest's broadcast services were ￿quired at thie8 laige even15 aGr05s Wesl Essex. The charity's involvement in these evellts Is important to maintain its presences within the local community. Flnanclal rèview ReseThes policy It is the policy ol the charity that unrestricted funds which have not been designated lor a specific use should be maintained at a level equiv81enl to betrween three and six month's expenditure. The trustee3 consider that reserves at thi5 level will ensure that, in the event of a significant drop in funding. they will be able lo continue the charity'5 current activities whlle consicleration is given to ways in which addititsnal funds rnay be raised. This level of reserves has been maintained throughout the year. Structure, governance and manayèment The charity is a Charitable Incorporated organi5alion registered with the Charity Commisslon, The trustees who served during the year and up lo the dale ol signature of the finanual statements were. Paul Meader Deborah Smart Mark Wilson-Brown Recmjtment and appryntment oftrustees Members of the charity may nominate themselve5 to be 818cled as a trustee. The membership will then appoint t trustees èt the annual gener81 rneeting. RADIO FOREST TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 28 FEBRUAR Y2024 OrganisatlDn81 slruofure The charity is formed of 8 membership with a committee appointed by the trusteès. Tha rolès of tre ¢ornmirtee are.. Chairman Vice Chairman Programme Controller Finance Manager Adrrinistralion Managèr Technical Manager Grants. Fundraising and Cornpli8nce Manager IT Manager Thè ttusl8es' report was approved by the Board of Trustees. Ma Wilson-Brovm Truste8 Date.. ....,. 17112/ RADIO FOREST CHARTERED ACCOUNTANTS, REPORT TO THE TRUSTEES ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF RADIO FOREST FOR THE YEAR ENDED 28 FEBRUARY 2024 In order to assist you to ftjifil your duties under the Charities Acl 2011, we have prepared lor your approval the rin8ncial staternenls of Radio Forest lor the year ended 28 February 2024, which compnse the stslement of financial activibes and the related notes from the charity's accounting records and from inforrnation and explanation5 you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject lo its ethical and othei professional requirement5 which are detailed al htlps'.Ilwww.icaew.cornlregLJlalion. Thi5 report is rnade to the charity's trustees, as a body, in accordance with the terms ol our engagement letter dated 25 November 2024. Our work ha5 been undertaken solely to prepare for your approval the financial statements of Radio Forest and state those matters that we have agreed lo state to the eh81ity'5 trustees. as a body. In thi5 report In accordance with ICAEW Technical Release 07116 AAF. To the fullest extent permitted by law. we r50 not accept or assume responsibility to anyone other than Radio Forgsl and the charity's trusiee5 as a body, for our work or for this report. It is your duty to ensure th* Radio Forest has kept adequate accounting records and to prepare statutory financial slalernenls that give a true and lair view ol the assets. liabilities. financial p051tion and deficit of Radio Fore5L You consider that Radio Forest is exempl from the statLrtory audit requirement lor the year. and is not required to obtain an independent examiner's ￿pOrt. We have not been in5truded to carry out an audit or a rewew ol the financial statements ol Radio Forest. For this rea50n, we have not verified the accuracy or completeness of the accounting records or Infomallon and explanations you have given to us and we do not, therefore, express any opinion on the slatulory finanual 8talemenl5. Baxter & Co 17 De¢omber 2024 Chartered Aecountants Lynwood House Crofton Road Orpington Kent BR6 8QE RADIO FOREST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 28 FEBRUAR Y 2024 Unrestrlcted Unrestrlcted funds funds 2024 2023 Note¥ Income from: Donation5 and legacies Charrtable activities other trading actNities Investments 8,288 20,015 54 1,480 15 1,625 136 Total income 10,049 21,564 Expenditure on.. Charitable activities 15,234 14,982 Totsl expenditure 15.234 14.982 Nèt Ineomellexpenditurel and movement In funds 15,1851 6.582 Reconelllatlon of funds: Fund b818nces al 1 March 2023 25.297 18.715 Fund balances at 28 February 2024 20,112 25,297 The staternent ol financial activities in¢ludes all gains 8nd10sses recognised in the year. All income and expenditure derive from continuing activities. RADIO FOREST STATEMENT OF FINANCIAL posrrioN AS AT28 FEBRUARY2024 2024 2023 Notes Flxed assets Property, plant and equipment 10 13,057 14.201 Current assets Trade and other recewables Cash at bank and in hand 11 2,710 5,300 1.334 10,581 8.010 19551 11.915 18191 Current liabilities 12 Net current a8sets 7,055 11,096 Total assels less current liabilitie¥ 20.112 25,297 The funds of the charity Unrestricted fLJnds 13 20,112 25,297 20,112 25.297 The linanoal statements were approved by the trustee5 on ... 17.IIz/.¥... Mark Wilson-8iown Trustee RADIO FOREST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUAR Y 2024 Accounting policies Charity inloimalion Radio Forest is 8 Charitable Incorporated Organi5alion ICIOI. registered address ol Sl Maigare15 Hospital, The Plain, Epping, CM16 6TN. 1.1 Accountlng convantlon The finanaal statements have been prepared In accordance with the Companie5 Act 20(￿, FRS 102 "The Financial Reporting Standard applicable in th8 UK and Republic of Ireland, I'FRS 102,1 and the Charities SORP "Accounting and Reporting by Charities.. Statement of Reeommended practi￿ applicable lo charities pieparing their accounts in accordanc8 wth the Finance Reporting Standard applicable in the UK and Republi¢ of Ireland IFRS 1021" The Charity is a Public Benefit Entity as defined by FRS 102. The finandal ststemenls have departed from the Charlties (Aceounts and Reports) Regulations 2008 onfy to the extent required to piovide a true and fair view. This departure has involved followng the Slalemenl ol Recommended Practice for charities applying FRS 102 rather than the version ol the Statement of Recommended Piactice which is referred to in the Regulations but whi¢h has since been withdrawn. The financial statements arg prepared in sterling, whith is the functional curr8ncy ol the tharity. Monetary amounts in these financial statements are rounded to the nearest £. 1.2 Going concern At the tirne of approving the financial slalement5, the trustees have a reasonable expectation that the charity has adequate ￿sourceS to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going con￿rn basis ol accounting in prep8ring the financial statements. 1.3 Charitable funds Unrèstricted funds are available lor use al the discretion of the trustees in ftjrtherancè of thwr charitable objectives. All the income re￿iVed is unrestricted. 1.4 Income Income is recognised when the charity is leg￿lY entitled to it after any performan¢e ¢ondibon5 have been me( the amounts can be measured reliably, and it is pmbabltr that income will be receivecl. Cash don81ions are recognised on recelpt. Other donations are recognised orice the charity has been mlified of the donation. unless perfomiance condits'ons require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant ￿ recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the charfty has been notified of an irnpending distribution, the atnounl is known. and receipt is expected. If the amount Is not known. thè legacy is Iiealed as contingent asseL 1.5 Expènditure Expenditure is recognised once there is 8 legal or constructive O￿lgatIOn to transfer economie benefit lo a third party, il 15 probable thal a Iiansler ol economic benefi15 will be required in settlement, and the amount of the obligation can be measured re15ably. Expenditure is dassified by activity. The costs of each adivity are made up ol the total of direct cost5 and shared costs, including support costs involved in undertaking each activity. Direct costs altribulabl& lo a single activity are allocatetj directly to that activity. Shared costs whlch ¢onlribule to more than one acts'vity and SUPPOrt costs which are not attributable to a single a¢ts'vity are apportioned between those activities on 8 basi5 consistent w4th the use of resource3. Central slafi costs a￿ allocatetj on the basis of ts'me spent. and depreciation charges are allocaletl on the portion of the 8s5el's use. RADIO FOREST NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 28 FEBRUARY 2024 Accounting policles Icontlnuedl 1.6 Propèrty* plant and equipment Property, plant and equipment are initially measured at Cost and subsequently rneasured at cosl or valuaoon, net ol depreciation and any impairment losses. Depreciation 15 recognised so as lo write ofF the cost or valuation ol assets less their residual values over their useful lives on the following bases.. Fixtures and fittlngs 25°k Reducing Balan The galn or Ioss 8rising on the disposal of an asset is determined as the dIffe￿nCe be￿een the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial aclivilies. 1.7 Ca$h and cash equlvalents Cash and cash equivalents indude cash in hand, deposits held at call with banks, other short-lerrn liquid investments with original maturities of three rnonths or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilitiès. 1.8 Finan¢lal Instruments The charity has elected lo apply the provisions ol Section 11 'Basic Financial Inslrumenls, and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of ils financial instruments. Financial Instruments are recognised ln the charity's balance sheét when the Charity be¢omes party to the contractual provi&on5 of the instrument. Financial assets and liabilities ale offset, with the net amount5 presented in the financial statements. when there is a legally enforceable iighl 10 Sel off the iewnised amounts and there is an intention to settle on a net ba515 or to realise the asset and settle the liability simultaneously. Basic financialassets Basic financial assets, whih include trade and othei receivables and cash and bank balance5. are inilialty measured al transaction price including transaction costs and are subsequently carried at amortised cost using the effective intere51 method unless the arrangefflent oonstilules a financing transaction, where the transaction is measured at the present value of the future ￿ceIptS discounted at 8 market rate of intere31. Financial assets classified as ieceivable within one year are not arnorlised. Basi¢ flnanclal Ilabllifi85 Basic financial liabilities, induding trade and other payables and bank loans are initially recognised al transacts'on priGe unless the arrangement conslilutes a financing transaction. where the debt instrument is rneasured al the present value of the fvture payrnents discounted at a market rate of interest. Financial liabilitlBs classified as payable within one year are not amortised. Debt instruments are subsequenuy carried at arnorlised cost, using the effective interest rate rnethod. Trade payables ale obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment 15 due within one year or less. If not. they are presented as non-current liabilitie5. Trade payables are recognised initially al tronsaction price and subsequently measured at amortised cost Uslng the effective Interest rnethod. DerecognAtion of fin8nGial liabilities Finanaal liabilities ale derecognised when the charity's contractual obligations expire or are discharged or cancelled. RADIO FOREST NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI FOR THE YEAR ENDED 28 FEBRUAR Y 2024 Crltlcal ae¢ountlng g$tlmale$ and judgements In the application ol th8 charity's accounting policies, the trustee5 are required lo make judgements, estimates and assumptions about the carying amount of assets and liabilities that are not readily apparent from other Sour￿9. The estimates and associated 8S5umptions are basecl on historic41 experience 8nd other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and uriderlying assumptions are reviewed on an ongoing b3S15. Revi5ion3 to accounting estimates are iecognised in the period in which the estimate is revised where the revision affects only tt)al period, or in the period of the revision and future periods where the revision affects both Cu￿ent and future periods. Incom• from donatlons and 18gacles Unrestrlcted funds 2024 Unrestricted funds 2023 Donations and gifts Grants Membership fees 7.318 14,497 4,500 1,018 970 8,288 20,015 Income frLim eharitsble activitie8 Unrestrlcted Unrestricted funds funds 2024 2023 Sale of Assets sales ol services by beneficiarias Incomè from other Ir?dlng actlvltles Unrestrtctgd Unr8Strlct8d funds funds 2024 2023 Fundraising events 1,625 1,480 RADIO FOREST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUAR Y 2024 Income from Investmènts Unrestricted Unrestrictod funds funds 2024 2023 Interest receivable 136 15 Expenditure on charltable actlvlties Charitable Charitable Expèndoturè Expen¢Jlture 2024 2023 DÈrect Costs Depreciation and impairment Equipment Repairs Streaming Fees Advertising Cornputei so￿8re Data Protectun Insurance 4.386 4.733 461 2,225 888 75 1,487 35 756 1,140 1,2 778 F j! Licensè Sundry Internet SeTViTr Fe& Accountacy Bank Charges 3.010 1,070 1,850 189 600 85 2,049 52 1,685 341 120 75 15,234 14,982 Analysis by fund Unie511icted fund5 15,234 14,982 Employees 2024 Number 2023 Number Totsl There were no employees whose annual rernuneralion was more than £60,000. Taxation The charity is exeTnpl frorn taxats.on on its actiwlies because all its income is applied for tharilable purposes. RADIO FOREST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUAR Y2024 10 Property, plant and equipment Fixtuie5 and fittlnys Cost At 1 March 2023 Additions 33.845 3.242 Al 28 February 2024 37,087 Depreclation and Impalmient At 1 March 2023 Depreciation charged in the year 19,644 4,386 At 28 February 2024 24,030 Carrying amount Al 28 February 2024 13,057 At 28 February 2023 14.201 11 Trade and other rècelvabl$¥ 2024 2023 Amounts falllng du• withln one year.. Prepayments 8nd accrued income 2.710 1.334 12 Current Ilabllltles 2024 2023 Accruals and deferred income 955 819 13 Unrestrlctèd fund¥ The unrestricted funds of the charity cofflprise the unexpended balances of donations and grants which are not 5ubjeGt to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been sel aside out of unrestricted funds by the trustees for specific purposes. At 1 March 2023 Incomlng Resources At28 resources expendedFebruary 2024 General funds 25.297 10.049 115,2341 20,112 10 RADIO FOREST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUAR Y 2024 13 Unrestrlcted funds Iconlinuedl Prevlous year= At 1 March 2022 Incoming resources Resgurces A128 expendedFebruary 2023 Gèneral funds 18.715 21.564 114.9821 25,297 14 Related party transactlon$ There were no disdosable related party Irans8Ctions during the year12023- none).