## |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||2D21|| |---|---|---|---|---|---|---|---|---| ||||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| ## ## ## ## |2|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| ## |4|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||