ANNUAL REPORT AND STATEMENT OF ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2024
FIX RADIO FOUNDATION
CHARITY REGISTRATION No: 1208123
Independent Examiners Ltd The Grain Store Hills Barns Appledram Lane South Chichester West Sussex PO20 7EG
FIX RADIO FOUNDATION
CONTENTS
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Page
Legal and Administrative Information 3
Trustees' Report 4 to 5
Independent Examiner's Report on the Accounts 6
Statement of Financial Activities 7
Balance Sheet 8
Notes to the Accounts 9 to 12
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FIX RADIO FOUNDATION
LEGAL AND ADMINISTRATIVE INFORMATION
CHARITY NUMBER
CHARITY NUMBER 1208123 START OF FINANCIAL PERIOD 3rd May 2024 END OF FINANCIAL PERIOD 31st December 2024 TRUSTEES AT 31ST DECEMBER 2024 L Timpany (Chair) Rev J Ray S Halliday
GOVERNING DOCUMENT
CIO - FOUNDATION Registered 03 May 2024
OBJECTS
The objects of the CIO (objects) are, for the benefit of the public: (a) the relief of persons in need, by reason of youth, age, ill-health, disability, financial hardship who are working (or have worked) as tradespeople in the construction industry; (b) the advancement of education in particular, but not exclusively, by providing scholarships to support those who wish to enter the construction industry as a tradesperson but lack the financial means to pay for the training required; and (c) the advancement of the mental health of those who are working (or have worked) as tradespeople in the construction industry.
REGISTERED ADDRESS
N201c, Vox Studios 1-45 Durham Street London SE11 5JH
INDEPENDENT EXAMINER
Lomax Pavey Independent Examiners Ltd The Grain Store Appledram Lane South Chichester West Sussex PO20 7EG
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FIX RADIO FOUNDATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2024
Structure, governance and management
The charity is established as a charitable incorporated organisation and was registered with the Charity Commission for England and Wales on 3 May 2024. The charity is governed by its constitution which was adopted on registration and has not subsequently been amended. Trustees are appointed by resolution of the trustee board.
Objectives and activities
The objects of the charity are, for the benefit of the public:
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(a) The relief of persons in need by reason of youth, age, ill-health, disability or financial hardship who are working (or have worked) as tradespeople in the construction industry;
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(b) The advancement of education in particular, but not exclusively, by providing scholarships to support those who wish to enter the construction industry as a tradesperson but lack the financial means to pay for the training required; and
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(c) The advancement of the mental health of those who are working (or have worked) as tradespeople in the construction industry.
The main activities which the charity has undertaken to further its purposes during this period,are as follows:
(a) Developed a website through which tradespeople can access various forms of support including crisis support, community support and counselling;
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(b) Appointed Clive Holland as Patron, to raise the profile and credibility of the charity within the trade community;
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(c) Conducted home visits with the Street Team, to help tradespeople struggling with loneliness, isolation and associated mental health issues;
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(d) Provided crisis grants to support tradespeople in financial need because of factors such as tool theft or illness; and
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(e) Raised awareness of the help available to meet the charitable needs of tradespeople via radio, social media and other digital channels.
In making decisions about the activities which the charity has undertaken to further its purposes for the public benefit, the charity trustees have had due regard to the Charity Commission’s public benefit guidance where relevant.
Achievements and performance
Through the activities which the charity has undertaken during the period in question, the charity has been able to directly support 67 different tradespeople in a variety of ways. This includes grants to 3 individual tradespeople, totalling £5,600, including £5k in support funds over the Christmas period.
Financial review
As set out in the accounts which accompany this report, in the period in question the charity raised funds totalling £28,853 and spent £15,561 in connection with its charitable activities. This left the charity with funds totalling £13,291 as at 31 December 2024.
As the charity is newly registered it does not currently have a formal policy for its reserves. This will develop in time as the charity becomes more established. The charity currently has a low base of fixed costs (for example, no employees and no rental commitments). This means that the trustees can manage the charity’s financial position by carefully monitoring expenditure.
At the end of the period in question, the charity did not hold any restricted or designated funds. All funds held are therefore available for the general purposes of the charity.
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FIX RADIO FOUNDATION
REPORT OF THE TRUSTEES (continued) FOR THE YEAR ENDED 31ST DECEMBER 2024
Declaration
The trustees declare that they have approved the trustees’ report above.
Statement of Trustees' Responsibilities
The Charities Act 2011 requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the surplus of the charity for that period. In preparing the financial statements the trustees are required to:
i) Select suitable accounting policies and apply them consistently
ii) Make judgements and estimates that are reasonable and prudent
iii) Prepare financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in existence.
The trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the charity. 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.
Approved by the Trustees on the 23rd October 2025
Signed on their behalf by Louis Timpany, Chair of Trustees
Signature:
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FIX RADIO FOUNDATION
INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS
I report to the trustees/members of Fix Radio Foundation on my examination of the accounts for the financial period ended 31st December 2024 set out on pages 7 to 12.
RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER
The charity's trustees consider that an audit is not required for this year (under section 144 (2) of the Charities Act 2011) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts (under section 145 of the 2011 Act),
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to follow the procedures laid down in the General Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act), and
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to state whether particular matters have come to my attention.
BASIS OF INDEPENDENT EXAMINER'S STATEMENT
My examination was carried out in accordance with General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the organisation and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
INDEPENDENT EXAMINER'S STATEMENT
In the course of my examination, no matter has come to my attention
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which gives me reasonable cause to believe that in, any material respect, the trustees have not met the requirements to ensure that:
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proper accounting records are kept (in accordance with section 130 of the Act); and
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accounts are prepared which agree with the accounting records and comply with the accounting requirements of the Act; or
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to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
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Lomax Pavey Independent Examiners Ltd The Grain Store Appledram Lane South Chichester West Sussex PO20 7EG
29th October 2025
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FIX RADIO FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2024
| Notes INCOME Donations and legacies 3a Investment income 3b TOTAL INCOME EXPENDITURE Charitable activities 4a Governance costs 4b TOTAL EXPENDITURE NET INCOME/(EXPENDITURE) Funds brought forward Transfers between funds TOTAL FUNDS CARRIED FORWARD |
Unrestricted Restricted TOTAL Funds Funds 2024 £ £ £ 28,850 - 28,850 3 - 3 |
|---|---|
| 28,853 - 28,853 |
|
| 11,166 - 11,166 4,395 - 4,395 |
|
| 15,561 - 15,561 |
|
| 13,291 - 13,291 - - - - - - |
|
| 13,291 - 13,291 |
Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as continuing.
The notes on pages 9 to 12 form part of these financial statements.
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FIX RADIO FOUNDATION
BALANCE SHEET AS AT 31ST DECEMBER 2024
| Fixed Assets Note Tangible Assets 2 Current Assets Debtors and prepayments 8 Cash at bank and in hand 7 Total Current Assets Creditors:amounts falling due within one year 9 NET CURRENT ASSETS TOTAL ASSETSless current liabilities Creditors: amounts falling due in more than one year 10 NET ASSETS Funds of the charity General funds Restricted funds TOTAL FUNDS |
Unrestricted Funds £ Restricted Funds £ 31-Dec-24 Total £ - - - |
|---|---|
| - - - |
|
| 16,633 - 16,633 2,229 - 2,229 |
|
| 18,862 - 18,862 |
|
| 5,571 - 5,571 13,291 - 13,291 13,291 - 13,291 - - - |
|
| 13,291 - 13,291 |
|
| 13,291 - 13,291 - - - |
|
| 13,291 - 13,291 |
Approved by the Trustees on the 28[th] October 2025
Signed on their behalf by Louis Timpany, Chair of Trustees
Signature:
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FIX RADIO FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024
1. ACCOUNTING POLICIES
Basis of Preparation & Assessment of Going Concern
Basis of Preparation
The 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. 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 UK and Republic of Ireland (FRS102) (effective 1 January 2015) - (Charities SORP - FRS102) and the Charities Act 2022.
The Charity meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policy notes.
Assessment of Going Concern
Preparation of the accounts is on a going concern basis. The trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern.
Incoming Resources
Recognition of Incoming Resources
These are included in the Statement of Financial Activities (SOFA) when:
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the charity becomes entitled to the resources;
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the trustees are virtually certain they will receive the resources; and
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the monetary value can be measured with sufficient reliability
Incoming Resources with Related Expenditure
Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resource and related expenditure are reported gross in the SOFA.
Grants and Donations
Grants and Donations are only included in the SOFA when the charity has unconditional entitlement to the resources.
Tax Reclaims on Donations and Gifts
Incoming resources from tax reclaims are included in the SOFA at the same time as the tax reclaim is received.
Contractual Income and Performance Related Grants
This is only included in the SOFA once the related goods or services has been delivered.
Gifts in Kind
Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as income receivable.
Donated Services and Facilities
These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received.
Investment Income
This is included in the accounts when received.
Investment Gains and Losses
This included any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
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FIX RADIO FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024
1. ACCOUNTING POLICIES (Continued)
Expenditure and Liabilities
Liability Recognition
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.
Governance Costs
Include costs of the preparation and examination of statutory accounts, the costs of the trustees' meetings and cost of any legal advice to trustees on governance or constitutional matters.
Grants with Performance Conditions
Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output.
Grants Payable without Performance Conditions
These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to a grant which remain in control of the charity.
Investments
Investments are initially recognised at their transaction value and subsequently measured at their market value as at the balance sheet date using the quoted market value. The Statement of Financial Activities includes net gains and losses arising on revaluation and disposals
Fund Accounting
Funds held by the charity are either:
1. Unrestricted funds
These are funds which can be used in accordance with the charity's objectives, at the discretion of the trustees.
2. Restricted funds
These are funds that can only be used for particular restricted purposes within the objects of the charity.
3. Designated funds
These funds are funds set aside by the trustees out of unrestricted general funds for specific purposes or projects.
Creditors
The charity has creditors which are measured at settlement amounts less any trade discounts.
Debtors
Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received.
2. TANGIBLE FIXED ASSETS
The charity held no fixed assets during this financial period.
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FIX RADIO FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2024
| 3. INCOME a) Donations and Legacies Donations and Legacies b) Investment Income Bank Interest |
Unrestricted Restricted Total Funds Funds 2024 £ £ £ 28,850 - 28,850 |
|---|---|
| 28,850 - 28,850 |
|
| 3 - 3 |
|
| 3 - 3 |
| 4. EXPENDITURE a) Charitable Activities Crisis Support Fix Visits Fix Foundation Christmas grant b) Governance Costs Administration Costs Bank Fees Insurance Legal Expenses Independent Examiner's Fee |
Unrestricted Restricted Total Funds Funds 2024 £ £ £ 6,043 - 6,043 123 - 123 5,000 - 5,000 |
|---|---|
| 11,166 - 11,166 |
|
| 581 - 581 20 - 20 99 - 99 2,682 - 2,682 1,014 - 1,014 |
|
| 4,395 - 4,395 |
6. RESTRICTED FUNDS
The charity held no restricted funds during this financial period.
7. CASH AT BANK AND IN HAND
| 7. CASH AT BANK AND IN HAND Bank Account |
Unrestricted Restricted Total Fund Fund 2024 £ £ 2,229 - 2,229 |
|---|---|
| 2,229 - 2,229 |
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FIX RADIO FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2024
8. DEBTORS AND PREPAYMENTS
| 8. DEBTORS AND PREPAYMENTS Accounts Receivable Prepayments |
Unrestricted Restricted Total Fund Fund 2024 £ £ £ 16,435 - 16,435 197 - 197 |
|---|---|
| 16,633 - 16,633 |
9. CREDITORS AND ACCRUALS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Accounts Payable Fix Radio Independent Examiner's Fee |
Unrestricted Restricted Total Fund Fund 2024 £ £ £ 194 - 194 4,363 - 4,363 1,014 - 1,014 |
|---|---|
| 5,571 - 5,571 |
10. CREDITORS AND ACCRUALS: AMOUNTS FALLING DUE IN MORE THAN ONE YEAR
There were no Creditors or Accruals falling due in more than one year at the end of this financial year.
11. STAFF COSTS AND NUMBERS
No persons were employed during this or the previous financial period.
12. TRUSTEES AND OTHER RELATED PARTIES
During the financial year ended 31 December 2024, the charity received donations from Fix Radio Ltd totaling £28,407. Trustee Louis Timpany serves as a director of Fix Radio Ltd.
No other transactions took place between the charity and its trustees or any persons connected with them during the financial period, other than reimbursement for items bought on behalf of the charity.
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