2022-03-31-accounts - Premier Christian Media Trust

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Contents			Page
Report ofthe Report ofthe Report of the Consolidated	Chair Directors Auditors Statement	of Financial Activities	1-2 3-10 11-12 13
Consolidated	Balance Sheet		14
Consolidated	Cash Flow	statement	15
Balance Sheet			16
Notes to the	Financial Statements		17-26

Directors		A M V Coombs
		JLC Duff
		A Hawkins
		C D Hughes
		EC Mbakwe
		A W Muirhead
		GJ Potts
		DJ Schofield
Registered	office	April Court, Sybron Way Crowborough, East Sussex
		TN6 3DZ
Registered	number	Company 1743091 Charity 287610
Auditor		Jacob Cavenagh		8 Skeet
		5 Robin Hood	Lane
		Sutton
		Surrey SM1 2SW

The	trustees and	directors, who served during the year a	re as follows:
	E A	C Mbakwe M V Coombs	AW Muirhead D D McKenzie (from 20 April to 19October 2021)
	J	LC Duff
	L A	Griffiths (resigned 15February 2022) Hawkins	GJ Potts DJ Schofield
	C	D Hughes	M PWakelin (resigned 20 April 2021)
Key	Management K	Personnel comprise the directors and Bennett	the foilowing senior executives: C Lupton (resigned 24 May 2022)
	P	Kerridge	M O*Shea
	A	Bellanie

	Main Objectives	Main Objectives	Main Objectives	Strategies to Achieve	Strategies to Achieve	Significant Activities	Perfonnance	Perfonnance
	To help parents and youth workers bring younger people closer to God.			~	Redevelop our Youth and Children's work magazine into an online resource hub	Undertake research through Savanta ComRes. Create a new	~	Research and development phase successfully completed.
					for parents and those in churches.	concept called Premier NexGen.	~	Website launched in May 2022.
						Commission
						website and
						content.
	To enable people to grow in their faith every day.			~	Continue to develop radio programming and online media to meet the needs of	Repositioning of Premier Gospel. Development of format of Premier	~ ~	Relaunch of Premier Gospel February 2022 3new podcasts	in
				~	our audiences. Develop new digital products to draw people closer to God.	Christian Radio. New Podcasts launched. New Websites launched.	~	launched and listening up 38%. Testimonies from radio audiences of impact.
3.	To give people resources and			~	Creation of 'The Big Conversation' Series	The Big Conversation	~	2.7m engagements with the content we
	confidence	to	share		3.	series of6		pl oduced.
	their faith.			~	Relaunch Premier	video/pod cast	~	2,400 people
					Unbelievable? as	episodes		registered for the
					wide ranging apologetics ministry.	delivered. Delivered Premier Unbelievable?	~	online event. Website launched in May 2022.
						Conference
						online.
						Commission
						website and
						content for
						Premier
						Unbelievable?
						launch.
	To create	a better		~	Grow the reach of	Premier Christian	~	6.4million visits	to
	informed	church on			Premier Christian	News USA		the Premier
	world events.				News	launched.		Christian News	and
				~	Develop Premier Christianity's online	Expansion in content from		Premier Christianity sites.
					presence.	Premier
						Christiani

FOR THE YEAR ENDE	D 31	MARCH 2022	MARCH 2022
		Unrestricted f		2022 Restricted	Total F	Unrestricted f.	2021 Restricted f.	Total
Income from:
Donations and legacies Charitable activities Other income			7,699,308 2,423,514 38018	350,154	8,049,462 2,423,514 38018	7,657,521 2,553,106 158701	420,630	8,078,151 2,553,106 158701
Total income (note 2)			10160840	350154 10510994		1036S328	420630	10789958
Expenditure on:
(see note 3)
Raising funds ln the United Kingdom ln the United States			1,906,224 130573 2036 797		1,906,224 130573 2036797	1,714,552 1 714552		1,714,552 1 714552
Charitable activities Broadcasting costs Magazine publishing costs Office relocation costs Grants			7,181,086 953,514 213,000 2 000 8 349600	350,783 350783	7,531,869 953,514 213,000 2 000 8700383	6,827,510 987,840 63889 787S239	275,923 275923	7,103,433 987,840 63 889 8155162
Total expenditure			10386397	350783	10737180	9593791	275923	9869714
Net gains on investments (note 6) 487 Net (expenditure)/income (225,070)				(629)	487 ( 225,699)	2 064 777,601	144,707	2 064 922,308
Transfer between funds Net movement in funds			(225,070)	(629)	( 225,699)	777,601	144,707	922,308
Reconciliation offunds Fund balances brought forward			1 286 882	206 142	1 493 024	509 281	61435	570716
Fund balances carried	forward		1 061812	2~05 1	~1267 2	~12 6 8 2	206 142	1 493 024

						2022			202$
				Note
Fixed assets
Intangible assets Tangible assets Investments				4a 5a 6			128,571 129,571 5348			'100,309 119,107 4 861
							263,490			224, 277
Current assets
Debtors Cash at bank and	in	hand		7	1,688,665 712036			1,708,410 1 195045
					2,400,701			2,903,455
Creditors: Amounts within one year		falling	due	8	(1 390 327)			(1612871)
Net current assets						1	010374		1 290 584
Total assets less	current		liabilities			1,273,864				1,514,861
Creditors: Amounts falling after more than one year			due				6539		(	21 837)
Net assets									~14'~4
Represented by: Unrestricted funds Restricted funds				10b 10a		1,061,812 205513 ~1~5				1,286,882 206 142 1~43JL24

PREMIER CHRISTIAN MEDIA TRUST	PREMIER CHRISTIAN MEDIA TRUST
CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2022				Company	number:	1743091
			2022			2021
Net cash (used in)/provided by operating activities (see below)				(297,913)		1,244,448
Cash flows from investing activities Payments on fixed asset additions		169562			161726
Net cash used in investing activities				(169,562)		(161,726)
Cash flows from financing activities Payments offinance leases			(15,534)		(22,256) (3~6867
Loans repaid
Net cash used in financing activities				(15,534)		(59,123)
Net cash inflow/(outflow)				(483,009)		1,023,5S9
Cash and cash equivalents at start ofyear				1 1S5045		171446
Cash and cash equivalents at end ofyear				7120 6		1 19 045
Cash flows from operating activities
Net (expenditure)/income forthe year				(225,699)		922,308
Depreciation Amortisation Net gains on investments Loss on disposal offixed assets Decrease/(increase) in debtors (Decrease)/increase in creditors				62,339 50,855 (487) 17,642 19,745 ~222 308		68,345 19,472 (2,064) (226,885) 463272
Net cash (used in)/provided by operating	activities			297 13		1 244 448
Analysis of change in net debt			At 1.4.21	Cash flows	Non-cash changes f. At 31.03.22
Cash Finance lease obligations		1,195,045 ( 36656)		(483,009) 15534 ~467577.		712,036 (~21 122 69~914

					2D22
			Note
Fixed assets Intangible assets Tangible assets Investments			4b 5b 6		18,000 5348 23,348		988 4 861 5,849
Current assets Debtors Cash at bank and	in	hand	7	1,046,102 487 071		1,045,618 729438
				1,533,173		1,775,056
Creditors: Amounts within one year		falling due	8	(~257592		( 173905)
Net current assets					1 275 581		1 601 151
Total assets less	current liabilities				1,298,929		1,607,000
Creditors: Amounts		falling due in more
than one year
Net assets
Represented by: Unrestricted funds Restricted funds			10c 10a		1,093,416 205513		1,400,858 206 142
Total Funds

ble and tangible fixed assets assets costing D,000or more are capitalise mortisation on all intangible assets, at rate sset in equal annual instalments over the	d at cost. Pro s calculated t following expe
Goodwill Software 8, websites	5years 3years
Leasehold improvements Fixtures, fittings and office equipment Computer equipment Studio equipment	5 years 5 years 3years 5years

INCOME	Unrestricted	Restricted	Total	Total
	Fundsf	Funds K	2022	2021
Donations and legacies Donations Legacies Government grants Other Grant income	7,603,952 77,856 17500 7699308	42,944 307210 350 154	7,603,952 120,800 324710 8049462	7,625,693 49,328 103,420 299710 8078 151
Charitable activities Broadcasting revenue Magazine revenue	1,895,177 528337 2423514		1,895,177 528337 2 423 514	1,721,369 831737 2553106
Other trading activities Transmission income CJRS government grant	38,018 38018		38,018 38018	22,978 135723 158701
Totalincome	101608 0	~30154	~1051Q9 4	10789958

lt
ota coss:		2022		2021
	Activities undertaken	Support	Total	Total
	directly	Costs
Raising funds In the United Kingdom In the United States	1,562,823 130573 1 693396	343,401 343401	1,906,224 130573 2 036 797	1,714,552 1 714552
Charitable activities Broadcasting costs Magazine publishing costs Office relocation costs Grants paid	6,264,651 329,362 213,000 2000 6 809013	1,267,218 624,152 1 891 370	7531869 953,514 213,000 2000 8700383	7103433 987,840 63889 8 155162
		~234774	~1~771~	II~14

FOR	THE YEAR ENDED 31 MARCH 2022 (continued)
3	CHARITABLE ACTIVITIES {continued)	2022	2021
b)	Support costs:—
	Staffing cost Premises and maintenance General overhead costs Telecommunications and ITcosts Depreciation Legal and professional Bank charges Governance costs {note3d)	612,652 487,688 339,221 437,145 128,837 73,787 71,053 84388 2~4771	583,088 498,878 284,898 374,426 63,460 115,468 77,465 96 827 ~294410
	Raising funds	343,401 1 891 370	314,177 1 780333
	Charitable activities	~24 771	~9~51
		2022	2021
c)	Staff costs:
	Wages and salaries Social security costs	3,467,567 357,642 118867	3,286,994 346,531 123953
	Pension Freelance and agency staff Other staff costs	3,944,076 784,556 172634	3,757,478 522,979 80484 &4~4

Wages and	salaries incl	ude termina	tion payments	ofF41,163 {2021:redundancy payme	ts ,	.
The average	number of	employees	during the year	was made up as follows:	2022 No	2021 No
					14	9
Administration					14	11
Advertising					3	3
Directors Infrastructure,	Web and	Database			12 3	13 3
Lifeline					20	19
Listener and	Donor Relations				32	23
Programming					5	8
Magazine production					~10	89
Employees	ofthe group	who received emoluments		of660,000 or more are as follows	2022 No	2021 No
						5
F60,000 - f70,000					1
670,000 - f80,000					2
880,000 - 690,000					1
690,000 —F100,000
f110,000 -	F120,000
6120,000 -	F130,000
6130,000 -	F140,000
Governance	costs comprise:				2022	2021
Auditors' remuneration Staff costs		—for audit services -for other services			21,900 6,521 55967 844M	20,850 7,230 68747 ~27
						Page 21

a) INTANGIBLE ASSETS:group	Goodwill	Software	Websites	Total
Cost At 1 April 2021 Additions Disposals At 31 March 2022	474,058 20,000 494 058	255,914 28,338 (~6436 277 816	178,517 31,379 (~16 300 1S35S6	908,489 79,717 (~22 736 965470
Amortisation At 1 April 2021 Provided	474,058 2,000	181,313 34,521	152,809 14,334	808,180 50,855 ~22 136
Released on disposal At 31 March 2022	476 058	209 998	150843	836899
Net book value At 31 March 2022 At 31 March 2021	18 QQQ	~71	~27	12~71 1Q~
b) INTANGIBLE ASSETS:company
				Goodwill
Cost				20000
Additions				20 000
At 31 March 2022
Amortisation				2000
Provided				2000
At 31 March 2022
Net book value				18000
At 31 March 2022

a) TANGIBLE FIXEDA	SSETS:group
	Leasehold Improvements	Leased equipment	Computer equipment	Studio equipment	Office equipment	Total
Cost At 1 April 2021 Additions Disposals At 31 March 2022	151,604 151604	71,823 (3~9822 32001	266,795 30,116 ~8936 287 975	244,291 59,729 304020	142,463 (~90 128 52335	876,976 89,845 (~138 886 827935
Depreciation At 1 April 2021 Provided Released on disposal At 31 March 2022	148,205 2,174 150379	45,795 11,382 (~25 176 32001	198,675 34,113 (~8659 224 129	226,320 13,200 - 239 520	138,874 1,470 (8~8009 52335	757,869 62,339 (121844) 698364
Net book value At 31 March 2022 At 31 March 2021	~22 MM9	- ~	%3„&46 ~12(2	64400 ~197	~5	— 1Zm1 ~11 1 7

b) TANGIBLE FIXEDASSETS:company	Studio equipment
Cost At 1 April 2021	165,751
Additions At 31 March 2022	165751
Depreciation At 1 April 2021	164,763 988
Provided At 31 March 2022	164763
Net book value
At 31 March 2022
At 31 March 2021

radio station broadcasting ii it	na	tion	wide	and p	roduces ma	gazines. Christian Communic	ation	Par	tnership operates
transmsson ses.								2D22	2021
f1 ordinary shares
Premier Christian Communications			Limited:
Christian Communications	Partnership			Limited:
Value at 31 March 2022 and		31 March		2021
Group and company
Listed investments: Market value at 1 April 2021 Revaluation Market value at 31 March 2022								4,861 487 ~4	2,797 2 064 4~1
Cost
At 31 March 2022 a summary		of	the financial		information	ofthe subsidiaries is as follows:
						Premier			Christian
						Christian		Communications
						Communications	Ltd		Partnership itd
Assets Liabilities Net (liabilities}/assets						1,423,501 (~6777 672 (~5354 171			335,390 (321 038 14352
Turnover Expenditure Profit						10582647 (~10 391 948 19 69			168,320 ~163806 ~414
									Page 23

FOR	THE YEAR ENDED 31 MAR	CH 2022 (continue	d)
7	DEBTORS		2022	Group 2021	Company 2022 2021
	Trade debtors Due from group undertakings Other debtors Income tax recoverable Prepayments		318,010 675,850 179,181 515624 16865	314,046 38,527 799,227 179,010 377600 ~170841	348,478 208,946 500,059 657,662 179,181 179,010 18384 ~14610 ~104561
8	CREDITORS: Amounts falling due within one year		2022	Group 2021	Company 2022 2021
			f'
	Trade creditors Accruals and deferred income Taxation and social security Other creditors		354,049 877,624 95,877 62 777 1 390 27	599,707 829,824 86,047 97293 1 612871	31,657 44 225,935 141,Q11 32850 257 592 173905
9	CREDITORS: Amounts falling	due after more than	one year 2022	Group 2021	Company 2022 2021
	Other creditors		6~39	~21 37
10a	RESTRICTED FUNDS —Group and Company
		Balance b/f at 01.04.2021	Income	Expenditure	Transfers Balance c/f at 31.03.2022
	Unbelievable Unbelievable Conference	194,652	289,710 17,500	( 283,225) ( 14,756)	201,137 2,744
	Lifeline Archivist	11490 206 182	42,944 35Q.~14	( 42,944) ( 9858) (35(~7	1 632 2055%1
		Balance b/f at 01.04.2020	income	Expenditure	Transfers Balance c/f at 31.03.2021
	Unbelievable Digital Literacy Project Lifeline Call and Care Archivist Premier Insight (US)	28,347 33088 ~l43	289,710 20,000 7,500 103,420	( 95,058) ( 20,000) ( 7,500) (1Q3,420) ( 16,857) ( 33088) (~27 .922)	194,652 11,490 2Q6 142
	A grant was received to develop the Unbelievable Programme in the form of 'Unbelievable —Big Questions* series online. One giff was received to assist in helping churches towards Digital Literacy, another to assist the operational costs of Lifeline and The National Lottery awarded a grant to fund the Gall and Gare project that savu Premier encourage and facilitate people to
	reach out to others during the pandemic through calling other people. Donations were received towards the cost of employing an Archivist to review our catalogue of radio and magazine content to allow us to repurpose this material for a future website focussing on wellbeing issues. Premier Insight (US) —a donation was received to facilitate the setting up ofa US Trust to enable the Unbelievable Programme
	to move to and grow in the US.

The group has financial commitments in respect of non-cance	llable operating leases as follows:
	2022	202$
	261,990	404,047
Within one year Between two and five years	155788 ~1777	248 502 6' 5M4

			2022			2021
Income General donations Restricted donations Grants Call 8 Care government grant income Legacies Income tax recoverable Management charge Interest receivable			6472 110 307,210 120,800 1,079,692 29,996 101 8,009,909			6,557,183 20,000 289,710 103,420 49,328 1,058,433 19,588 42 8,097,704
Expenditure
Restricted funds expenditure Unbelievable Digital Literacy Lifeline Call 8 Care Archivist Premier US			283,225 42,944 9,858 336027		95,058 20,000 7,500 103,420 16,857 33Q66 275923
Direct costs
Magazine Costs Event Costs			86,352 1750Q 103852
Grants
Donation —London Gospel Choir To support Digital Theology			2,000 2 000		63889 63889
Overheads Administrative expenses Bank and credit charges Audit and accountancy Amortisation ofgoodwill Legal &professional PCC Cost recovery			988 58,533 13,930 2,000 29,788 8033702 8 138941		24,356 64,924 13,100 7333644 7436024
Other Release of provision against intercompany		debt	(262 353)		~362 820
			8318467			(7 413016)
Net (expenditure)/income	pre investment	gains	(	308,558)		684,688
Gain on revaluation of investments				487		2 064
Net {expenditure)/income	forthe year					~IN)~72

			2022	2021
Income Broadcasting Magazines Transmission Donations, legacies and grani income Call 8 Care government grani income CJRS government. grant income interest receivable			1,895,177 528,337 38,018 8,049,462 10,510,994	1 721 369 831,?37 22,978 7,974,654 103420 135,723 77 10,789,958
Expenditure Staff costs Transmission 8 broadcasting Legal 8 professional (incl. audit) Depreciation &amortisation Finance charges Premises 8 maintenance General overheads Licence 8 copyright fees Commercial production Listener 8 donor relations Web, software 8 comms US Subsidiary Events Magazines		4,901,265 1,959,229 131,960 130,837 75,019 695,340 460,906 121,837 66,449 1,218,430 500,473 130,573 17,500 327362		4,360,940 1,725,560 143,548 87,816 82,594 573,926 603,654 219,798 72,293 1,205,485 393,7?0 400 330
			10737180	9869714
Net (expenditure)/income pre investment	gains		( 226,186)	920,244
Gain on revaluation of investments			487	2064
Net (expenditure)/income forthe year			2&M69