COMPANY REGISTRATION NUMBER: 00782348
CHARITY REGISTRATION NUMBER: 233363
Trans World Radio Limited
Company Limited by Guarantee
Unaudited Financial Statements
Year ended 31 December 2024
Allen Mills Howard Limlted
Chartered Accountants
& Ststutory Auditors
Lewis House
56 Manchester Road
Altrincham
Cheshire
WA14 4PJ

Trans World Radio Limited
Company Llmitod by Guarantee
Financial Statements
Year ended 31 December 2024
COUNCIL MEMBERS:
Mrs Trish Wells. Chair
Mr Reeve B8rringlon lapp)inted 13 May 20241
Mr Simon Burdett
Mrs Rachael Dzumbira18ppointed 13 May 20241
Revd Andrew G¢)dfrey (resigned 13 January 2025)
Mr Michael Hulmes {resigned 13 May 20241
Mr Brian Muir
Mr John Ormiston lappointed 13 May 2024}
Mr Colln Saunders
COMPANY SECREfARY:
The Revd Dr Russell Famworth
HIEF EXECUTIVE:
The Revd Dr Russell Farnworth
REGISTERED OFFICE:
Bruce Court
25a Hale Road
Altrincham
WA14 2EY
INDEPENDENT EXAMINER:
Mr D K Allen FCA FCCA
Allen Mills H¢)ward Limited
Chartereé Accountants & Ststutory Auditors
Lewis House
56 Manchester Road
Altrincham
Cheshire
WA14 4PJ
BANKERS..
CAF Bank Limited
PO Box 289
Wesl Malling
Kont
ME19 4TA
COUNCIL OF REFERENCE:
The Revd Dr Steve Brady
The Revd Lyndon Bowring
The Revd Gamn Calver
Mr Steve Clifford
The Revd Damd Coffey, OBE
Ms Elaine Duncan
The Revd Steve Gaukroger
The Revd Mark Greenwood
The Revd John Glass
Canon Ian Knox
Mr Rob Parsons
Mr Matt Summetheld
The Revd Rob White

Trans World Radio Limited
Company Llmited by Guarantee
Flnancial Statements
Year ended 31 December 2024
Page
Trustees, annual report (in￿rpOrating the directors, report)
Independent examinerfs report to the trustees
Statement of financial activities (including income and
expenditure account)
11
13
Statement of financial position
14
Statement of cash flows
15
Notes to the financial statements
16
The following pages do nol form part of the financial ststgments
Detalled statement of financial aGtiwties
31

Trans World Radio Limited
Company Llmlted by Guarantee
Trustees. Annual Report (Incorporating Ihe Dire¢lors' Report)
Year ended 31 December 2024
The Trustees, who are also the DIr￿loTS for the purposes of company law, present their feport and the
unaudited financial stslemenls of the charity for the year ended 31 December 2024.
Referanco and administrativ• details
Regist•r•d charity name
Trans Wodd Radio Limited
Charity r•glstratlon numb•r
233363
Company r•gistration number Crf)782348
Prlnclpal office and roglstffed 8ruce Court
offl¢e
25a Hale Road
Altrincham
WA14 2EY
The Trustees
Mr Reeve Barrington lappoinled 13 May 20241
Mr Sirnon Burdett
Mrs Rachael Dzumbira lappoinled 13 May 2024)
Revd Antjrew Godfrey {resigned 13 January 2025}
Mr Michael Hulmes (resigned 13 May 20241
Mr Brian Muir
Mr John Ormiston {8ppointed 13 May 20241
Mr Colin Saunders
Mrs Trish Wells
Company s•cretary
The Revd Dr Russell FaM￿￿rIh
Inde￿ndent Examlner
Mr D K Allen FCA FCCA
Allen Mills Howard Limited
Chartered Accountants & Stalulory Auditors
Lewis House
56 Manchester Road
Altrincham
Cheshire
WA14 4PJ

Trans World Radio Llmlted
Company Limlted by Guarantee
Trustees, Annual Report (Incorporating the Directors, Report) fconllnu¥d)
Year endod 31 December 2024
Structure* goV•Man￿ and management
Oryanisational structure
Trans World Radio ￿mited is a charllable company limitsd by guarantee and ￿as incorporated on 27
November 1963.
TWR-UK 1$ govemed by a Couwl of Managemènt and all properties are vested in Ihat body.
The Chief ExKutiv8 Officer 15 responsible for the day to day monagement of Ihe org8nisation, assisted
by a team of ministy co￿rdInat0rs. The remunerath.on of all staff. induding that of Key Management
Personnel, is reviewed annLFally afterconsideration of the rate of inflation and appropnate benchmarking
(including analysis of charity pay throughoLrt a broad range ofjob roles, charity sizes and geographical
areas).
One third ofthe members of the Council lorthe number nearest one thirdl retire from office at the Annual
General Meeting. Retiring members of Council are eligible for re-election and the Council itself has
power, with subsequent ralffication by the members in General Meeting. to make an appointment of a
Council Member as lor#J as the number of Counal members does not exceed fv￿ftty. The minimum
number is five.
Potential Trustees are identified after consideration of-
Iheir skn11s, experience. availability and knowledge of TWR,.
periodic ￿￿eW of current Board membership, in particular Idenlfying any skill or experience
shortFalls which could be met by potential candidates. and
a passion to contribute to fulfilling TWR'S objectives.
Policies and Procedures for the induction of new trustees arg contained within 8 Council Handbook.
Included in the handbook are the conslilutional documentation, roles and responsibilits.es and codes of
good prath"ce.
OurTrustee training policy is to regularfy review the general balance of skills and experience and prowde
training as required, either to individual Trustees or the Board as a Ith￿18. Thls Ss provided in-house or
extemalty as appropriate.
Related Parti•s
TWR-UK 15 a National Partner of Trans Worfd Radio Irrternalion81. As such. TWR-UK represents TWR
Intemational in the Unlted Kingdom and activities are molivaled by 8 mutual desire to see the Gospel of
the Lord Jesus Christ proclaimed throughout the world. To this end we broadcast, recruit personnel.
provide follow4Jp servi￿5 to bro8dc8sts, raise funds for ministry in the UK and overseas. and lialse
belween tho int*matsonal offices 8nd UK supporters and broadcasters.

Trans World Radio Limited
Company Llmlted by Guarantee
Trustees. Annual Report Ilncorporating the Dlrectors, Report) (¢
Year ended 31 December 2024
Obje¢tiV•s and actfvltles
Oble¢tlves
Thg Mom¢yandum and Articles of Association of Trans Worfd Radio Limited Ihereafter TWR-UK} stsle
that the object for which the charity was fomied is..
To communicate through radio broadcasting, television. audio-wsual materials. literature. leadership
training and other means the Gospel of the Lord Jgsus Chrisr.
The TWR-UK mission statement is:
TWR-UKworks in fellowship wth the Church and its Wortthde partners to disciple all peoples acco¥dlng
lo the command of our Lord Jesus Christ by proclaiming the Gospel to as many people a5 Possible,
instructing believers in biblical d¢xlrino and daily Christ-like living, and modelling our message through
all our ministy relationships,.
Our mission. simply put, is to asslst the Church lo fulfil the command of Jesus Christ lo make disciples
of all people and to do so by usin9 and making available mass medi8.
rwR-UK'$ purpose is lo be both a UK Christian broadcaster and a worfd mission partner with four
stratsgl¢ alms:
1.. To improve a¢¢es¥ lo TWR'$ radio and audio services
2.. To build listening 8nd estsblish 8 first class radio service
3.. To increase and sustsin participation in wodd mission
4.. To develop and secure sustsinable funding
The Trustees have identified seven key areas to meet the challeng6s of the coming ye8rs and to enable
us to assess how well we are fiJlfilling the strategic aims.
1. Capaclty
W8 n•ed to strengthen our capacty and invest in our people. systems and Infrastru￿1Ve so th8t we
Can deliver greater impact. This applies equally to internal capacity {people. managemenUle8dership
skills, physical infrastructure, technology) and exlemal capacity (relationships with partner5, SUPPOrters,
Ilsleners and stakeholders- present and futurel}.
2. Perfoman¢e
We alm to manage performonee and develop a clear understanding of what performance means and
how il should be managed to focus sharply on desired ￿sUlts. We aim to be a best Practi￿ employer
committed to developing a growing team of gmployees and volunteers who are cornmilted lo TWR'S
values and work collectively lo deliver its objectives. To that end. we will..
ensure all employees and volunteers have a clear understsnding of TWR including its Minislry
Development Plan. values and objectives
early link staff obje¢live$ to the Ministry Development Plan
offer relevant and regular access (via the appraisal scheme) to training opportunities in tems
of individual and organisational need and with a view to developing, 3ttr8Ctin9 and r&tsining
quality staff.
3. Alliancos
We aim to creato strategic allian¢es and ro¢ognise that wg have much to learn from other vduntary,
public 8nd private organisalions.

Trans World Radio Llmlted
Company Llmited by Guarantee
Trustees. Annual Report (Incorporallng the Directors, Report) (¢¢Jthu•d)
Year ended 31 Docember 2024
4. Promotlon.
We alm to enhonco the effectlveness of •xlstlng promotlonal actlvlty and flnd ngw ways to
makg Iho ministry and noeds of TWR known.
5. Funding.
W8 aim to make the most of chang5ng pattems of fundlng, We will need lo demonstrats to our
stskeholders thatwe use our resources wisely. qffiryently and effectivety. We also need to attract new
supporters. A key objective for TWR-UK is to increase support for the development of UK broadcasts
over the next five years, so that when DTV platfom contracts come up for ￿neWa1 we can give
serious consideration to distribution nationally on DAB dvJital radio.
6. L•adership.
W• n••d to be led wlth Integrlty and 8im to develop leaders who wll mobilis? people around our
mission, focus them on results and create small high-performance teams, so that everyone is
motivated to achieve TWR-UK'S objectives.
7. Gov8mance.
We olm lo contSnually 8trengthen our governan¢• enhanced membership and crystal clarity
over Council's role foT both Council members and Staff. We will endeavour to establish effective
ovem8ncfr arrangements with a trained Council focusing on Strateg￿ issues and monitoring
outcomes and a management team un¢Jert8king operational management lo deliver the Ministry
Development Plan.
Actlvltles
2024 hos been a challenging year with the continuing impact of the cosl-of4iving crigs. HoV￿ver.
TWR-UK has continued its activities, whl)out interruption. throughout the year.
In 2024 we focused on..
Continuing lo focus on understanding our s￿lenceS and supporters
Developing news and current affairs content
In¢r8asing synergy across social media and radio
Growng and engaging our audience and supporters through radio and the optimisation of
digital and printed communications.
UK Chri$tl8n Broadcasting
TWR-UK broadcasts 2417 on digitsl lel9visi￿ plarforTns Sky Guide, Freesat an¢J Fregview and online
laccessible from a computer. intemet radio and the TWR-UK Smartphoneltablel Appl. Content for
UK audiences is in a speech-ba5ed formal and includes news, current affairs 8nd Bible teaching.
TWR-UK matss programmes for transmission and distributes programmes produced by other
Christian broadcasters. Programmes produced by TWR-UK are also distributed as aud￿ on4gmand
podcasts available on Ihe TWR-UK website, Apps and YouTube ¢hannd.
Int•rnational Christian Broadusllng
TWR-UK is committed to empowering ministy partners and communities aroLsnd the worfd and
encouraging them lo ulilise lrfe-givin9 media in the process of Iransfomiation. To fulfil this purpose.
we work with organisab'ons around the world, some of which are, like us, pathers of TWR
Inlernalional. Ourwork to enable partners indudes.. finding and connecting interested partles, offering
strategic advice, training, capacity building and offering both financial and pract¢cal contributions.

Trans World Radlo Llmited
Company Llmlted by Guarantee
Trustees. Annual Report (Incorporating the Directors, Report) (¢tinfrnu8d)
Year ended 31 D•¢ember 2024
Achlgvomonls and ￿rformanc•
Broadcasting and Programme Produ¢tlon
TWR-UK continues to broadca51 a speech-based radio serwce with the best of Christian ministy,
teaching and current affairs programming. Through its digital television platforms. ThR-UK's 'roach"
Indudes almost every hou$ehokl in the UK. Cuffent estlm81es suggest that the audience size is about
250.000.
A selection of programmes is also available to stre8m or down108d on the TWR-UK website,
Smartphonellablel Apps and YouTube channel.
Over the past year. TWR-UK has continued lo strive to prowde high quality and e￿i￿.ng content across
all ils platforms. We seek lo promote a greater understanding of cu￿ent affairs and to provide the very
best in Bible teaching programmes. Our desire is lo highlight issues of concern and interest both in the
Christian and wider community and to promot¢ understanding. compassion and positwe action. We are
devoted lo transforming lives through the powor and influenco of the Bible and lo maintaining a
distinctive Christian media brand.
The studio team has worked hard to delSver relev8nl and engaging content. During the year special effort
has been made to improve the quality of our news and current affairs programming. We h8ve continued
to strengthen our netsvort( of contrilyjlors and ctsmmentstors for the news service and have developed
programme-making collabor81ions with Christian organisalions and missions who can help us deliver
enriching content for our audiences. These alliances are crucial to our content produ¢tton work and also
provide useful cross-promolional collaborations which help us to grow our audience. Feedback from
listeners and supporters offers ample encouragement that TWR-UK'S lrfewchanging radio continues to
make 8 I￿ltiVe impacti
Onlino
TWR-UKS website provides access lo our audio content (both as streaming audio and downloadable
podcasts) and a window lo TWR'S global mission. TWR￿K.$ Apple and Android Apps piovide access
for mobile users and are helping lo boost TWR￿K,$ online audience. In addition we have increased our
engagement wilh soual media. particularty Instagram. Facebook and YouTube.
Publlcatlons
'Li51ening World, is our primary publication, and is distributed to supportors four times a year. 'Listening
Worfd. balan¢gs information about TWR-UK'S broadcast ministry in the UK wlh inlemation8151ories lo
highlight the imp8Ct of missionary radio around the wodd and is dislribijted to 13,000 listeners and
supporters.
Intematlonal Christian Broadcasting
During 2024 TWR-UK arranged supporter appeals to encourage support for urgenwy needed
programming from TWR'S transmilters lo Pakistan, Afghanistan and North India IPANII and the Mid(Ile
East, a$ well as for developments to TWR'S digital ministry {TWR3601 and Women's programming
(Women of Hopel.
As in previous years TWR-UK allocated a proportion of its general fund income to be used to support
UK and overseas projects related lo media and missions. TWR-UK makes financial contributions lo
parthers have ovedapping vi5w)n and shared values lo our own. to fvrther their acllvity., specifically
to increase the effeclivene5s of their media projects. Some of these a￿ lo invest in the capacity and
capabilitie5 of the partner or9anisations s¢ that they 8re stronger, more sustainable and belter able to
thrivg in Ihelr local context.

Trans World Radio Limited
Company Limlted by Guarantee
Trust•es' Annual Report (Incorporating the Directors, Report) I¢￿￿￿U¢￿)
Year ended 31 December 2024
Other contribullons are towards speclfic medi8 proiects. whether for 81rtime. equipment. production or
their start-up. development or funning costs. Our approa¢h is focused on enabling partners to use
media, predominantly audio, lo bdng'life in all its fullness. lJohn 10..101.'
for individuals across all parts of a community as their lives are Iransfomied..
for followers of Christ in those communities as they care for those around them., and
for communities as a whole 85 they transform into better places to live and thrive.
In 2024 £8,000 was distributed and we were pleased lo be able to support ministry ￿th TWR Greece
and TWR Hungary.
Audiance and Church Relatio
Correspondence testrfies lo the value listeners pla¢e on our broadcasts. Durir¥J the year TWR-UK has
dealt with 2,238 contscls by letter. email or telephone.
TWR-UK is keen lo work with local churches to exi&nd our reach across the nation and lo highlight the
irntN)rtance of TWR'S partnerships around the worfd. Church provide a unique opportunity to share
and explore ways lo work together in the cause of Christ.
Volunteers
The contribution of volunteers continues to be encouraging and appreciated by TWR4JK. A small
volunteer base in Manchester continues to bo available for studio work and listener response ministry.

Trans World Radio Limited
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Directors, Roport) (wrtrnu•d)
Year ended 31 December 2024
Publlc beneffl
The Trustees are aware of the Charity Commission's guid8nce on public benefit. The Tnjstees believe
that the Charity supports broadcasts and associated activities which stimulate and promote 'th¢
advancement of the Christian religion. by exp￿sSIng and demonstrating God's concem for the holistic
needs of all people.. spiritual, physical. and emotional. Our broadcasts prowde a means by ￿leh people
of any faith, or none, can lake (L)mfort. encouragement and wsdom from Christian values and belief,
and can be supported as they face pressure or difficulty- They are readily available to anyone liwng in
the areas to which our programmes are transmitted and TWR prowdes help and support to those
listeners who contact us irrespective of their soual, economic or reli9ious background.
Chrlstlan Radlo and the respon￿ ¢0 human need: As a national partner in the Trans W￿d Radio
Intem81ional bToadc8sting network, TWR-UK is part of a Christian global mass media org8nisalion
bringing benefit lo the worfd's public with speaffic focus on key areas such as women, children and
youth, HIVIAIDS and primary health care, church leadership development and societies which are
dominated by oral leamers. We work in more than 300 languages covering over 190 countries.. we also
have offices and partnerships sprinkled 8cross all th& continents. Programmes are broadcast from more
than 2,000 outlets. including intsmalional Iransmltting sitss, as well as local AM, shor￿VaVe. long wave.
FM. direcl-to-lislener satellite broadcasts, cable audio systems and the Intemet.
Chrfstlan Radio and the advancement of religion: In the UK, TWR-UK broadcasts qu81ity, speech-
led Christian radio via satellite and the Intemet. Through these broadcasts. the general public have
access to radio progrdmmes that educate. inform and enlertain and demonstrate a clear Christian
perspective on values such as family life and neighbour love. All members of the public with suitable
re￿Iving equipment have access to programmes designed to inspire thern lo daily Christ-like living and
offer encouragement to live out Ihelr faith relevantty in the modem wodd as reSponsi￿e cAtszens.
Chrlstlan Radlo and the transfomiatlon of $oclety: TWR-UK produces and distributes pro9rammes
that encourage a belief in God, promote Christian value5 and make a positivg contribution lo s¢xiety. In
this respect, TWR represents hundreds of thousands of people drawn from mainstream churches
8 vSsion. adopted from Lord Reith. the first Director GenerBI of the BBC. for me(418 that is for the
'bett8rmenl of society.. Religious freedom is an important social value in democratic soclety and
Christianity aspires to transcend all barriers of cultLJre and race and has a major role lo play in the
elimination of cultural intolerance. TWR is ￿MmItted to an environment where quality broadcasting 15
available lo every section of our society ￿￿th the widest possible choice of diverse media seMce5 of the
highest qualty.
How on$uro fvndrals• r•$pon$ibly
TWR-UK ￿lieS on voluntary support. In order lo wovide the fijnds requirgd for TWR-UK to fv￿lI its
mission. we ftJndr8ise in a number of drfferent ways, which can be summarised as follows.
' we recruit new donors and develop relationships with them
• we raise money from Trusts and Foundations
• we raise rnoney through airtime sponsorship by programme-m8kers
. we ask our sUPPOrteTS and potential supporters lo ¢on$id&r including a gfft to TM in their will
TWR-UK did not work with any fundraising agencies during 2024.
TWR-UK is registered with The Fundraising Regulator and seeks to follow the Code of Fundralslng
Practice. which can be found 8t www. fundraisingr8gulalor.org.uklcode-of-fundraisingpraclice. There
have been no reported brea¢hes of these sl8ndards. We have 8 number of controls in pla￿ to ty lo
ensure that the trust and confidence of our donors and of the public are maintained. Our Supporter
Charter can be viewed and downloaded from http.'Ilvwrn.￿.0rg.ukjch8rterI

Trans World Radlo Llmited
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the DirectorJ' Report)
Year ended 31 D•cember 2024
Flnancial review
Rlsk Manag8m8nt and ReseNes Policy
The risks f￿ed by thè Charity have been reviewed during Ihg year, and pol￿18$ and controls to mikng8le
these risks are in place.
Thg three most signrfKant risks identified, together with mitigating 8ctions are..
1. Failvre to delNer the mlssSon efferAwely. caused by18ck offocLFS, relevance. inabilty to attract kay staff.
or ill healthldeathlresignalion. Whilst recognising that we operate in volatile limos, we have invested
significant effort in developing a Ministry Development Plan. Pgrforniance wll be monitored against the
plan lo mi119ale the effects of an adverse risk event. or lo tske advantage of an unplanned opportunity,
2. Income gener8ti¢)n and sustainability- the fundraising strategy is prepared and revley￿d annually by
key stsff. The income and expenditure of TWR-UK is relalivety stable. This is b￿ause funding is not over-
dependent on any part￿Ular source and the projections for expenditure are reasonabty pre(lictsbl&.
A monthly financial analysis is compiled for Trustees by the Flnance Adminislralor and Ihe Chief Executive
Officer and appr8ised against annual budgets. This ensures 8c¢ountsbility and would alert management
end the Councll lo any difficulties.
However, there are some highly variable sourcés of Income for TWR-UK. It is unde8r whether the same
outstanding response lo ministry opportunities c8n be maintained, although In￿Me here is directly
matched lo expenditure. More serioudy. the variation in legacy income is a potential source of risk. For
such re8sons. the Council of mem1￿r$ has decided to implement a policy of maintaining a reserve of al
least £150,000. which equates to quarterly expenditLtre. On top of this minimum, the Council also
endeavours lo keep sufficient reseNes lo miti9ate any potential threat from holding longer term. high cost
contracts for transmission. This is consKlered to be adequate to maintsSn ihe integrity of TWR-UK in all
foreseeable fiJture circumstances.
3. Reputational daimage caused by adverse publicity or ',oss of ¢￿dIbilIty, espv.ially in relatlop. to
broadcast output. TWR-UK'S approach is carefully and prayerfulty considered. and all programmes
imported into our schedules from other programme prOdU￿rS are carefully examined to ensure their
compliance with Ofcom's Broadcasting Codes. We promote a culture of transparency and accountability
and have robust policies in pla￿ including Whistleblowing, SafeguardiThJ. Bultying and Harassment along
with relevant sections within our Staff Handbook.
The Council of TWR-UK wlll tske steps to ensure that'the rnajor risks to which the tharity is exposed, as
identified bylhe trustees, have been reVIe￿*d and systems have been estsblished to mitigate those risks"
The Flsk Register is reviewed formally every year and risk management is an on￿Oing process that
en8bles the CoLtncil to focus on the mitigation ol those risks that would prevent TWR-UK achieving its
slralegic objectives.

Trans World Radio Limited
Company Llmlted by Guarantee
Trustees, Annual Report (Incorporatlng the Directors, Report) (MnNnu•
Year ended 31 December 2024
Flnanclal resufts and rnsour¢•8
The re5utts for the year ended 31 December 2024 show a deficit of£212,309 compared with a deficit of
£128.946 in the prewous year.
The increase in the deficit in the year was a result of a decrease in the overall income. dovm to £594.979
12023.. £649,078), and an increase in total expenditure lo £844,346 12023.. £834.6561. Induded in
income was a reduction in legacies receNed lo £138.677 {2023.. £191,840), while expenditure $8w an
increase in overall wage costs lo f247,223 {2Q23.. £236.3161. and an increase in premises costs to
£84.338 {2023.' £70.6841.
The members of Counc51 rem81n aware of the need to Increase ￿lUTe income from donations in order lo
meet the costs of continuing lo broadca518t similar levels. The Charity's investment portfolio confinues
to be structured to ensure that all investments meet the eth￿81 criteria spectfied by the Council.
During the year the company incurred no capital expenditure on office and studio equipment.
The charity's bank bala￿eS have decreased by £50,573 during the year.
Changes in fixed 8ssets during the period are summarised in note 14 to the financial statemefts.
Following the deficit in the year, the charity had total reserves of £830,4X> {2023'. £1,042,759). The
reserves are held to fvlfill the aims and *ivities described g￿ler in this report. Fr￿ reserves available
81 the ba18nce sheet date were £217,80512023: £263.2051 in line with the Chari￿8 reserves policy which
Is set out on page 8.
Investments
The Trustees have invested funds that are not required in the Short lem. The Trustees consider that its
investments have pertormed adequatety in relat￿n to the market Environmental and ethical laclors are
considered in the selection of funds and the investment portfolio continues lo be structured lo ensure
that all investments meet 9th1￿1 criteria specified by the Council. The Trustees regulady reviews its
inveslmenls, wlh due regard to liquidity, balance, performan￿ and safety, and meets annually with the
portfolio manager.

Trans World Radio Llmited
Company Limlted by Guarantee
Trustees. Annual Report (Incorporating the Dlrectors. Report)
Year endod 31 December 2024
Plans for futurn poriods
Ambition$, hopos and plans
The Council of TWR-UK hopes lo expan(J its UK radlo seNlce by enhancing th& quality of the 24 hour
schedule and seekiThJ other means to deliver its ￿nIent in a way that is more accessible for listeners.
We aim to continue our exploration of trje rrt)ssibility and fea5ibillty of digital radio as a means
lo Ihis end..
endeavour to maintain our presence on DTV (digital tslevision} plarforms and lo grow our
audience and support base.,
to explore options for online delivery in a broadcast environment that Is mwng steady to the
distribution of TV and r8dio services by online streaming-
continue lo increase the quality and appeal of our broadcasts.
deal wth listener resrK)nses as effectively as possible.,
strengthen TWR-UKS online presence and further develop mobile applications to encourage
lislening Ma smart phones, smartspeakers and tablet computers.,
optimise our use of soclal media., and
further develop our work with intem8lional partne￿ and our support for inlemalional projects.
A key element in the effectiveness of any radio service is consistency and reliability and TWR-UK is
committed to maintaining current broad￿Sts vthile these continue to prowde an effecbve means of
communicating wth listeners.
Small company provlsions
This report h8s bèen prepared in accordance with the provisions applicable lo companigs entit1￿j lo the
sm811 companies exemption.
The Iruste8s' annual report was approved on 12 May 2025 and signed on behalf of the board oftru51ees
Trlsh Wells
Trustee
10-

Trans World Radio Limited
Company Llmlted by Guarantee
Independent Examiner's Report to the Trustees of Trans World Radlo Llmlled
Year ended 31 December 2024
I report lo th8 trustees on my examination of the financial statements of Trans Worfd Radio Limilod I'lhe
charity'} for the year ended 31 December 2024.
Re$ponsibiliti•s and basis of raport
As the trust￿ of Ihe company {and also Ils directors for the purposes of company lawl you are
responsible for the prepaialion of the financial slalements in accordance wth Ihe requirgmenls of lh8
Companies Act 20061.lhe 2006 Acl'l.
Having satisfied myself that tho accwnls of the comp8ry are iiot requi￿￿ to be audited under Part 16
of the 2006 Act and are eligible for independent examination, I report in respect of my examination of
the charty's accounts as carried out under section 145 of the Charities Act 2011 Ilhe 2011 Act'}- In
carrying OLII my examination I have followed the Directions given by the Charity Commission under
seC￿n 145(SXbl of the 2011 Act.
Independent •xaminorfs stat8m•nt
SSnce the charity's gross ineome exceeded £250,000 your examiner must be a member of 8 bo¢ty listed
in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examinalion because l am
a member of the Asso?afrm ofchartered Accountsnts IACCA}, which is one ofthe listed bodies.
I have completed my ex8minalion. I confimi th8t no matters have come to my attention in connection
wilh the examination giving me cause to belleve:
accounting records were not kept in respect of the charity as required by sect￿n 386 of Ihe
2006 Act,. or
the financial statements do not accord wlh Ihose records; ¢x
Ihe financial ststements do not comply wllh the accountiw requirements of section 396 of the
2006 Act other than any requiTeTnent that the accounts give a Irue and fairf Mew which is Th)1
8 matter considered as part of an independent examination,. or
the financial statements have not been prepared in ￿er￿dance wih the methods
principles of the Slalement of Rewmmended Prac￿Ce for accountlng arKI reporting by
charities applicable lo charities preparin9 Ih8ir accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021.
11

Trans World Radio Limited
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Trans World Radio Limited
(e•nllnuod)
Year ended 31 December 2024
I have no concgms a￿1 have come across no other matters in connection wth the examination to whic*b
attention should be drawn in this report in order to enable a proper understanding of the accounts to be
reached.
en'È-CCA FCA
Allen)Aills Howard Limitad
Chartered Accountants & Statutory Auditors
Lewis House
56 Manchester Road
Altrincham
Cheshire
WA14 4PJ
13 May 2025
12

Trans World Radio Limited
Company Limited by Guarantee
Statement of Financial Activities
(includlng income and expendlture account)
Year ended 31 December 2024
2024
Unrestricted Re8tri¢ted
Funds
funds Total funds Total funds
2023
Note
Income from:
Donations and legacies
Invesknent income
574.081
20098
574.081
20.898
625,096
23.982
Total Income
594.979
594.979
649.078
Ex￿nditUr1 on,.
Raising fund5
Expenditure on charitable activities
24,586
819,760
24,586
819.760
26,905
807.751
Total expenditure
844.346 834,656
Nel incomellexpendtturel
{249.367)
1249.367) (185,578)
Net Ilossygain on investments
10
37.058
37,058
56.632
Net m0￿ment in funds
(212,3091
{212,309) 1128.946)
Reconelllatlon of lunds
Total ftjnds brought forward
1.042.759
1,042,759
1,171.705
Total funds carrièd forward
830.450
1,042,759
The stslement of finanryal activities includes all gains and losses recognised in the year. All
Income and expenditure derive from confjnulng activltles.
Th• nots8 on pag•s 16 to 30 forni part of these flnanclal statsm•nts.
13-

Trans World Radlo Llmited
Company Limlted by Guarantee
Statement of Financial Position
31 December 2024
2024
2023
Note
Flxod assets
Tangible fixed assets
Inveslmenls
14
15
7,231
605.414
14,482
765,072
612,645
779,554
Current assets
Debtors
Cash ot bank and in hand
16
93,049
148.279
87,938
198,852
241,328
286.790
Creditors: amounts falling du• wlthln one yoar
17
23,523
23,585
Met current a58•ts
217,805
263,204
Ti>tal assets less Gurreftt Ilablllti•s
830A50
1.042.759
Nel assets
830.450
1.042.759
Funds of th8 charity
Unrestricted fijnds
830.450
1.042,759
Totsl Gharty funds
19
830ASO
1,042.759
For the year en(ling 31 December 2024 the charity was entitled lo exemption from audit under section
477 of Ihe Companies Act 2cKI6 relating to small companies.
Directors, resporbsiknlitses..
The members have not required the company to obtain arb audit of its finanGial 51atemenl$ for the
year In question in gccordance with section 476.,
The directors acknO%￿edge their responsibilities for complying with the requirements of the Act with
respect lo accounting records and the preparation of finanaal slalemenls.
These fin8nual statements have been prepared in accordance wth the provisions applicable to
companies subject to Ihe small companies. regime.
These financial stslem8nts were approved by Ihe board of truslees and authorlsed for issue on 12 May
2025, and are signed on beh8W of the board by..
rs Trish Wells
Trustee
Mr Brian MLllr
Trustee
The not•¥ on pagu 16 to 30fomi port cl th•$• flnan¢l•l stat•monts.
14

Trans World Radio Limited
Company Llmlted by Guarantse
Statement of Cash Flows
Year ended 31 December 2024
2024
2023
Not•
Total funds Total funds
Cashflows from oporatlng a¢tlvltles
Net cash used in operating acliviknes
20
(268,188) 1207.959)
Cash flows from Investlng actlvlties
Purch8se of tanglble assets
Purchase of other investments
Proceeds from sale of olhor investments
Invesbnenl income
3,847)
19,794)
190,000
23.982
112.1101
210.000
20.898
Nel cash (used inyfrom investing activilies
218,788
200.341
Nat incrnaso in cash and cash gquivalents
Ca¥h and cash oqulvalents at beglnning of year
149.4001
222.834
(7,6181
230,452
Cash and cash equivalents * end of y•ar
21
173,434
222,834
The notes on pogeg 16 to 30 lomi part of thesefinancial stat8monts.

Trans World Radio Limited
Company Limited by Guarantee
Notes to the Flnancial Statsments
Year ended 31 December 2024
General Inforniation
The charity is a public benefit entity. a5 defined by FRS 102. and a private company limited by
guarantee, registered in England apd Wales, and a ￿giSter0d Charity in F.nol8nd and Wales. The
address of the registered office is Bruce Court, 25a Hale Road, Althncham. WA14 2EY.
ststement of ¢ompllance
These financi81 stslements have been prepared in Complianc￿ with FRS 102, The Financial
Reporting Standard applicable in the UK and the Republic of Ireland., the Ststement of
Recommended Practice applicable to charits'es Preparing their accounts in accordance with the
Financial Reporting Stsndard applicable in the UK and Republic of I￿land IFRS 1021 (Charities
SORP (FRS 1021}. issued in Octoter 2019, and the Companies Act 2006.
Accounting poIici•s
Basis of preparallon
The financaal ststements h8ve been prepared on the historical cost basis, as modified by the
revaluation of fixed asset investmonts measured at fair value through the statement of finar￿la1
aclivilies.
The kywil￿al GU￿enGY ￿the financial statements is PoLTrJ steding and rounding is to the nearest £1.
Going ¢On￿rn
The trustees consider that there are no materi81 uncertainties over the charity's ability lo
continue tr the foreseeable lulure. As a resutt. Ihey consider that it remains appropriate
to prep8re the accounts on the going ¢oncem bas￿.
Fund accounting
Unrestricted funds a￿ funds which are freely available for use by the counc51 member5 in
fvrtherants of the general objectives of the charity.
Deslgnated fvnds ar8 unre51ricts¢J funds ¥￿1¢h are set aside for spgcrfic purposes or probects for
use by the council members in the frJrther8nce of the gener81 oblecllves of the th8rty.
Restricted funds are funds which are lo be used in accordance with specific rest￿tionS imposed
by donors.

Trans World Radlo Llmlted
Company Limited by Guarantee
Notes to the Financlal Statements (wtru¢dJ
Year ended 31 December 2024
Accounting policies
In¢oming resources
All in¢¢yning rgsourGes are included in the statement of financial activities when entillemenl has
passed lo tho charity. it 1$ probable that the economic benefits associated wilh the transaction wll
Ilow lo Ihe charity and the amount can be reliably measured. The follovAng specrfic poI￿leS are
applied to partlcular calegorles of Income..
income from donations or grants 1$ recognised when there is evidence of entillemenl lo Ihe
gift, receipt is probable and its amount can be measured reliably.
legaw income is recognised when receipt is probable and enlitlem8nl is established.
income from donated goods is measured at the fair value of the goods unless this is
impractical lo measure reliably. in which case the value is derived from the wsl lo Ihe donor
or the estimated resale value. Don8tsd facilities and servicos are recognised in the accoLJnts
when received if the value can be reliably measured. No amounts are included for Ihe
contribution of general volunteers.
Income from investments is recognised when notification of the income attributable to the
charSty has been received and receipt is highly likely.
ResourGOS ex￿ndId
Expenditure is recognis8d on an accruals basis as incurred. Expenditure include5 any VAT which
cannot be recovered. and is dassif￿d underheadings of thestatemenloffinancial activf(iesto which
it relates..
expenditure on raising funds indude5 the cos15 of all fundraising aclimties, events, non-
charitable trading activities. and inve5trnent managers, costs.
xpendilure on charitable activities includes all Gosts incurred by a charity in undortaknng
acliMties that further its charitable aims for the benefit of ils beneficiaries. includin9 those
support costs and costs relating to the govemance of the Charity apportioned lo tharitable
activitles.
otherexpendilure incl¥Jdes all expenditure that is nerther Telated to raising fundsforthe charity
nor part of its expenditure on charitable activities.
All costs are allocated to expendibJre categories reflecting the use of the resource. Direct Costs
attributable lo a single actimty are allttated directly to that actiwly. Shared costs are apportioned
be￿en the activtties they contribute lo on a reasonable. justifiable and consistent basis.
TangSble fmd assets
Tangitsle assets are initially recorded at CQ51. arHI Subsequent￿ stated al cost less 8ry ￿Umulated
depreciation and impairment losses.
17

Trans World Radio Limited
Company Limited by Guarantee
Notes to the Financial Stat•ments (eonthiwd)
Year ended 31 December 2024
& Accounting poll¢l•s (¢wlth
Depreciation is calculated so 8S to write off the cosl orvaluation of an asset, Igss ils residual value,
over the Jseful economi¢ life of that asset as follnws..
Motorvehides
Studio equipment
250A reducing balanc*
330A straight line
A review for indicators of impaiTment Is canied out 81 each reporting dale, wth the recoverable
amount being estimated where such indicators exist. Where the carrying value exceeds the
recoverable amount, the asset is impaired accordingly. Prior impaim)ents are also reviewed for
posslble reversol at each reporting dats.
Flx•d as$et investments
Investments are a form of basic financial instrument and are initially Tecognised at their transaction
value 8nd subsequendy measured at their fairvalue as at Ihg balan￿ Sheet date using the closing
quoted market price.
Realised gains or losses on investment 8ssets are calculated al the difference betr￿en disposal
prn￿edS and their opening carrwng value or their purchase value if acquired subsequent lo the
first day ofthe financial year. Unrealised gains and losses are calculated as the differen￿ betsveen
the fair valuo at the year end and their carying value at that dale. Reallsed and unrealised
investmont gains or losses 8re combined in the ststemenl offinancial activities and are recognised
in the year in whith they arise.
Financlal instrumonts
The charity onty holds finanry81 assets and financlal Ilabilibes of B kirKI that qualfy as b9S￿ financlal
instruments.
Basic fin8ncial instruments are Inltl81ty recc*Jnised at transaction v8lue and are subsequently
measured at thelr setuement value.
18

Trans World Radio Limited
Company Limited by Guarantee
Notes to the Flnancial Statements (C￿11￿￿¥￿)
Year ended 31 December 2024
Accounting pollcles(¢onthu•d)
D•btor8
Trade and other debtors are recognised at the settlement amount, less any provision for non-
recoverability. Prepayments are valued al transactK)n value.
Cash at b•nk and in hand
Cash al bank and Cash in hand includes wh arKI short temi highly liquid investments wrlh a
short maturity date of three months or less from the dale of acquisition or opening of the depo*l
or similar account.
Cr¢ditors and provl$lon$
Creditors and provisions are r8cognisgd where the charity has a present obligBtion from a past
event that will probably ￿sU11 in the transfer of funds 10 8 thSrd paty and the amount due to settle
the obligation can be measured or estimated reliably. Creditors and provisions are nomially
fecognised at their setuemenl amount after allowing for any trade discounts due.
Operatlng le￿$
Rentals paid under oper81ing leases are charged to the Ir￿Me end expenditure account on 8
slraight-line basis over the period of the lease.
Pension schgmè
The charity operates a detine(5 contnbution pension scheme tor the benefit of its employees. The
assets of Ihe scheme are held independenuy from thosg of the Gharity in an independent
administered fund. The pension costs charged in the financial statements represent the charity's
contributions PaYa￿e during the year.
Limitsd by guarantoo
The charity is a company limited by guarantee. In the event of the tharity being wound up the
liability in respect of the guarantee 15 limited lo £1 per member of the charity. The number of
members al 31 Decernber 2024 was 712023.. 6}.
19

Trans World Radlo Llmited
Company Limitod by Guarantee
Notes to the Financlal Slatements (¢onthJwd)
Year ended 31 Docember 2024
Donation$ and legacles
2024
2024
Unrgstrictod Rostrl¢t8d
Funds
Funds
2024
Total
Funds
2023
Total
Funds
Donatlons
General contributions
Broadcaster contributs'ons
393.094
42,310
393.094 383,402
42.310
49,854
Logacl•$
138,677
138,677 191.840
574,081
574.081 625,096
Invesiment Income
All unrestricted funds
2024
2023
Bank interest receivable
Portfollo Interest and dividends
1.362
19.536
23.952
20,898
23,982
Ralslng funds
All unrestricted funds
2024
2023
Ralsing funds
Appeals and follow up costs
Investment management costs
18.459
6,127
18.159
8,746
24.586
26.905
20

Trans World Radio Limited
Company Limited by Guarantee
Notes to the Financlal Statoments (eortinued)
Year ended 31 December 2024
Expenditure on charltable activitiè8 by actlvity and fund
2024
2024
Unr08trict•d Rastricted
Funds
Funds
2024
Total
Funds
2023
Total
Funds
Gifts and donations
Grfts and donations paid
Field gifts and missionaries
8,000
59,213
8,000
59,213
15.678
75.224
67,213
67,213
90,902
2024
2024
Unrg¥tricted Restricted
Funds
Funds
2024
Total
Funds
2023
Total
Funds
Radlo Programmos and broadcasting
Airtime costs
Studbo and production costs
Wageslsalaries
Employer's Nl
Pension costs
Depreciation
Support Gosts Inole 8)
323.216
1.579
162.678
8,194
7.530
4,501
102,769
323.216
1,579
182.678
8.194
7.530
4.501
102,769
292,800
774
157,648
12,001
8,310
11.148
98.649
610A67
610,467
581,330
2024
2024
Unrèstricted Rèstricted
Funds
Funds
2024
Total
Funds
2023
Totsl
Funds
Public relations and promotions
Public relations and promotions
Wogeslsalaries
Empkjyfjr's Nl
Pension costs
Support costs (note 8)
53,543
46.276
5,456
3.459
34,256
57.734
41.084
1,627
2,191
32.883
46,278
5,456
3.549
34,256
142,080
142.080
135,519
819.760
819.760
807.751
21

Trans World Radlo Limited
Company Limited by Guarantee
Notes to the Financlal Ststements (wpthrg
Year ended 31 December 2024
Comparatives for prior year
2023
UnreStr￿ted
Funds
?.023
Restricted
Funds
2023
Totsl
Funds
Gifts and donations
Gifts and donations paid
Field gffts and missionaries
15,678
69,224
15.678
75,224
6.000
84.902
6.000
,902
2023
2023
Unrestricted Restricted
Funds
Funds
2023
Totsl
Funds
Rad50 Programmes and broadcasting
Airtime costs
Sbjdio and production costs
Wageslsalaries
Employer's Nl
Pension costs
Depreaation
Support Gosts (note 81
292.800
774
157.648
12,001
8,310
11.148
98.649
292,800
774
157.648
12,001
8,310
11.148
98.649
581,330
581,330
2023
Unrestricted
Funds
2023
Restricted
Funds
2023
Total
Funds
Publlc relations and promotions
Public relations and promotions
Wageslsalaries
Empkiyer's Nl
Pension costs
Support costs IrKJle 81
57.734
41.084
1.627
2,191
32,883
57,734
41,084
1.627
2,191
32.883
135,519
135,519
801,751
6.IXIO
807.751
22

Trans World Radio Limited
Company Limited by Guarantee
Notes to the Financial Statements (¢￿tinUe
Year ended 31 December 2024
Support costs
2024
2024
Unrestrictod R•strictgd
Funds
Funds
2024
Total
Fund$
?023
Total
Funds
Wageslsalaries
Empbyer's NIC
Pension costs
Premises costs
Telephone costs
12.588
12,588
12,450
558
447
70,684
8.004
54,338
8N82
8,482
L I'll
Website
Insuran¢o
Motor & travel
Professional fee$
Other office costs
Bank charges
Depreciation
Governance costs {note 91
Profit on disposal of fixed assets
2,455
3.194
3.042
910
11.100
2.815
2,750
4,400
2,455
3.194
3.042
910
11.100
2.815
2,750
4NOO
4.848
7,503
3,061
5,306
7,270
2,741
4.235
4,444
139)
137.025
137.025
131,932
Compar8tives for prior year
2023
Unrestricted
Funds
2023
Restricted
Funds
2023
Total
Funés
Wageslsalaries
Employer's NIC
Pension costs
Premises costs
Telephone costs
Website
Insurance
Motor & travel
Professvjnal fees
Other office costs
Bank charges
Depreciation
Govemance costs Inole 9)
Profit on disposal of fixed assets
12.450
12,450
558
447
70,684
8,004
4,848
7,503
3,061
5,306
7,270
2,741
4,235
447
70.684
8.004
4,868
7,503
3.061
5.306
7.270
2.741
4,235
1391
131,532
131,932
23

Trans World Radlo Limited
Company Limited by Guarantee
Notes to the Financial Ststements (c¢￿tInUe￿I
Year ended 31 December 2024
Governance costs
All unrestricted funds
2024
2023
Independent examinerfs fees= IrKlependent examination
Independent oxaminerfs fees.. Other
1.800
2,600
1.890
2.554
4.400
10.
Net gainslllosses) on Inv•stm•nts
All unrestricted funds
2024
2023
Galns on listed investments
Gainsll105sesl on managed portfolio assets
2,269
34.789
{4911
57,123
37,058
56,632
11.
Net incomel{oxp•nditurnl
Net incomellexpendilurel is staled after ¢hargingllcrediting)'.
2024
2023
Depreciation of tangit4e fixed assets
Profil on disposal of tangible fixed 8ssets
7.251
15,373
{39)

Trans World Radio Limited
Company Limlted by Guarantee
Notes to the Financial Statements (cthrythiwd)
Year ended 31 December 2024
12.
staff costs
The total staff costs and employee beneffils for the reporting period a￿ an81ysed as follows-
2024
2023
Wages and s818ri&s
Social security costs
Employer contribulions to pension plans
221,542
14,139
11.542
211.182
14,186
10.948
247,223
236.316
The average head ¢ounl of employees during the year wa$ 1012023: 91 and is analy56d as folbws:
2024
2023
Sludio and production
Ministy and promotion
Administrative
10
Trustse remuneration and expenses
No Trustee rec8ived 8ny remuneration during the year12023.. Nill.
DLtring the year Cwncil Members were reimbutsed for oul-of-pockel expenses of £nil {2023.. £31)0}.
The Thumber of elnployees whose employee benefits exceeded £60.¢J)O during the year were as follows..
2024
No
2023
No
£70.001 10 £80.000
Key management par8onnel
The key management personnel of the charity in charge of directing and controlling, running and operating
the charity on a day-to-day basis comprise the Trustees, the Chief Executive Officer and the BTOBdcasl
Manager. Total employee benefits relating lo these personnel in 2024 were £114.463.
In the prior year. key management PerS￿￿e1 consistsd of the Trustees, Chief Executive Officer, Managing
Editor and Technical Manager. Total employee benefits relating lo Ihese personnel in 2023 were £111,377.
25

Trans World Radio Limlted
Company Limited by Guarantee
Notes to the Flnancial Statements (t4wthu•
Year ended 31 December 2024
13.
Comparallvg statomonl of financial activitles
2023
Unrestricted
Funds
2023
Reslrricted
Funds
2023
Totsl
Funds
IrKome from..
Donations and legacSes
Investsment income
619,096
23.982
6,000
625,096
23.982
Totsl Income
643,078
6,000
649,078
Expenditure on:
Raising funds
Expenditure on charitable actiwtie$
26,905
801.751
26,￿)5
807.751
6.000
Total expendilu
828,656
6,000
834,656
Nel incom8llexpendilurel
{185.578)
{185,578)
Nel (lossygain on investments
10
56,632
56,632
N8t movement in funds
{128.9461
{128,9461
Reconciliation of funds
Totsl funds brought fotward
1,171.705
1.171.705
Total funds carried fO￿ard
1.042.759
1.042,759

Trans World Radio Limited
Company Llmlted by Guarantee
Notes to the Financlal Statements (cwthu
Year ended 31 December 2024
14. Tangible fix•d assots
Motor
stwlio
Vehlcles Equlpmont Equlpmont
Total
Cost
Blfwd 811sl January 2024
Additions
Dlsposals
21.669
12.730
135,872
170,271
21.669
f2,730
135.872
170,271
Depreciation
Al 1 January 2024
Charge for the year
Eliminated disposal
12,909
2,190
12,170
130.710
4,501
155,789
7,251
C1fv￿ at 31 t)ecember 2024
15,099
12.730
135.211
163,040
Net book valuo
Clfvvd at 31 December 2024
6,570
7231
At 31 December 2023
21,669
15.499
145,370
182,538
15.
Investments
All unreslricled funds
2024
2023
Managed portfolio investments
Cash and cash equivalents
600,794
4,620
762,720
2.352
605.414
765,072
Llsted
InvgStmgnt$
Mana9ed
Portlollo
2024
Total
2023
Totsl
Market value
At 1st Janijary 2024
Addib"ons at cost
Disposals
Net unreali5ed gains1110sses}
2,351
757,002
759.353
882,927
12.110
12,110
9,794
(210,0001 (210,0001 I1￿.000)
34,789
37,058
56.632
2.289
Al 31st D9￿mbOr 2024
4.620
593.901
598.521
759,353
Cash held for reinvestrnent
6.893
6.893
5,719
M8rket Value at 31* December 2024
4.620
600.794
605.414
765,072
27

Trans World Radio Llmlted
Company Limlted by Guarantee
Notes to the Financlal Statements (Gothinu•d)
Year ended 31 December 2024
16.
Debtors
2024
2023
Prepayments and accrued incom8
Tax reclaimed or Gift
84.452
8.597
77.953
9.985
93,049
87.938
17. Credltor8: amounts falling du• wlthin ono yoar
2024
2023
Accruals and deferred income
Taxation and Social Security
19,149
4,374
19,149
4.436
23.523
23,585
18.
Ponslons and ot￿r post retirement bonefits
Defin•d contribution plans
The amount recognised in income or expendiluro as an expense in relalDn lo defined contribution plans was
£11.542 {2023- £10,948).
28

Trans World Radio Limited
Company Limited by Guarantse
Notes to the Flnanclal Statements (eojth
Year ended 31 December 2024
19.
Analy818 of charftable funds
unrgs¢rl￿gd funds
Gainsl
At
{loss8sl 31 Dec 2024
1 Jan 2024
ID¢om• Exponditurg
G•n•ral fund$
1.042.759
594,979
{844,3461
37.058
830,450
At
1 Jan 2023
Gainsl
At
Ilossesl 31 Dec 2023
Income Expenditure
General fiJnds
1,171.705
643,078
1828,656}
56,632
1,042.759
Restricted funds
At
1 Jan 2024
Galnsl
At
{108so8131 Dec 2024
Incom• Expendtturo
Staff support
Asla Buddhlsts
Radlos for Afrl
North Cyprus
Grants
At
1 Jan 2023
Gainsl
At
{k)ssesl 31 Dec 2023
Income Expenditure
Staff support
20.
Reconciliation of net movement in funds to n•¢ cash Ilow from 0￿ratIng actlvltles
2024
2023
movement In funds
Add depreciation charges
Deduct investment income
Add lossesldeduct gains on investments
Deduct profits on disposal of fixed assets
Ilncreaseydecrease in debtors
Increasellde¢reasel In creditors
(212,3091 {128.946}
7.251
15,383
{20.898)
123,982)
{37.058}
{56,632)
139)
12.626
{1.117)
15.112
1621
Cash used in operatiThJ acliwtEs
(268,188) {207,959}
29

Trans World Radio Limlted
Company Llmited by Guarantee
Management Inforniation
Year ended 31 December 2024
21.
Anatysis of ¢a$h and cash gqulvalonts
2024
2023
Cash at bank and in hand
Cash held by investment manager
148,279
25.155
198,852
23.982
173,434
222,834
22.
Relat￿ party transactions
The charitable company is Gontrolled by the board of trustees.
Detsils of trustees, expenses are m8de in note 12 to the fin¥ncial statements.
During the year, the trustees made donatKJns wthout conditi'ons to the charlty amounting to £2,25512023:
£302).
23.
Leasing commllmènts
Minlmum lease CL)mmilments are falling due as follows.
2024
2023
Within ong year
Btheon one and fve years
44.660
2.325
44.660
46,985
46,985
91.645
During Ihe year. lease payments totaling £42.42912023= £42,429) are included wthin expen¢Jiture on the
Stalernenl of financial activities.
Thg followlng pages do not fom part of the financial ststements.
30

Trans World Radio Limited
Company Llmlted by Guarantee
Detailed Statement of Financial Activities
Year ended 31 December 2024
2024
2023
Income from:
Donatlons and legacies
General contributions
Broadcaster contributions
Legacies
Support received for stsff
393.094
42,310
138,677
383,402
49,854
191,840
574.081
625,0
Investment Income
Bank interest recefvable
Other invastmenl income
1,362
19,536
30
23,952
20,898
23,982
Total income
594.979
649.078
Expendfturo on:
Ralslng fund$
Appeals and follow up costs
Investment management costs
18,459
8.127
18,159
8,746
24,586
26,905
Charftable actlvltles
Airtime costs
Studio 8n(J production costs
Gfts and donations
Field grfts and missionaries
Publ;'- rel&lior,s and promolicns
Wages and salaries
Empbyer's Nl
Pension costs
Premises cDsts
Insurance
Motor & travel
Professional fees
Telfrphone costs
Other office costs
Deprecation
Website costs
Bank charges
Profit on disposal of fixed assets
323.216
1.579
8.000
59.213
52.543
221,$42
14,139
11,542
84.338
3.194
292.800
774
15,678
75,224
57,734
211,182
14,186
10,948
70,684
7,503
3,061
9,755
8,004
7,270
15,383
4.863
2,741
139}
5.310
8.482
11,100
7,250
2,455
2,815
819,760
807,751
T¢)tal oxpondituro
844,346
834,656
31

Trans World Radio Limited
Company Llmlted by Guarantee
Detailod Statement of Financial Actlvities
Yearended 31 December 2024
2024
2023
Net gains on investments
Gainslllossesl on listed investments
Gainslllosses) on other investment assets
2,269
34,789
1491}
57.123
37,058
56,632
Net expenditure
{212.309) 1128,946}