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2025-03-31-accounts

PREMIER CHRISTIAN MEDIA TRUST

FINANCIAL STATEMENTS FOR THE YEAR ENDED

31 MARCH 2025

Company Number 1743091 Charity Number 287610

PREMIER CHRISTIAN MEDIA TRUST

FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2025

Contents Page
Report of the Chair 1-2
Report of the Directors and Strategic Report 3 -11
Report of the Auditors 12-13
Consolidated Statement of Financial Activities 14
Consolidated Balance Sheet 15
Consolidated Cash Flow statement 16
Balance Sheet 17
Notes to the Financial Statements 18-29

PREMIER CHRISTIAN MEDIA TRUST

COMPANY INFORMATION

Directors D H Barclay
A M V Coombs
The Right Reverend J L C Duff
The Lady Lenzie
E C Mbakwe
A W Muirhead (Chairman)
G J Potts
D J Schofield
M G Spelman
J Templeman
Company secretary D K Legal Ltd
Registered office April Court, Sybron Way
Crowborough, East Sussex
TN6 3DZ
Registered number Company 1743091
Charity 287610
Auditor Xeinadin Audit Limited (Previously known as JCS)
5 Robin Hood Lane
Sutton
Surrey SM1 2SW

PREMIER CHRISTIAN MEDIA TRUST

REPORT OF THE CHAIR

The year to March 2025 marked a period of transition and consolidation as Premier regrouped under its new Chief Executive, Kevin Bennett, following the sad passing of Peter Kerridge in June 2024.

During the year, Premier continued to operate in sub-optimal temporary premises as the search for a new permanent home for the Charity continued. Despite these constraints and the many challenges this has brought, top quality broadcasting continued on DAB digital radio, medium wave, Freeview and online. Our largest reach continues to be to our loyal radio listening audience, and Premier has maintained its listenership of over 2 million nationally every week, through our three radio brands, Premier Christian Radio (1,200,000), Premier Praise (963,000) and Premier Gospel (934,000).

In last year’s report, we announced that suitable new premises had now been found in the City of London. Following lengthy negotiations during the year, we were delighted to enter into legally binding contracts for a 12-year lease on 1 Tudor Street in Blackfriars. The location, being within minutes of St Paul’s Cathedral and St Bride’s Church, the journalists’ church in Fleet Street, is perfect for Premier, providing a suitable, ideally located and cost-effective space within the City of London and enabling us to create the UK’s first dedicated Christian Media Centre. The terms agreed are favourable, including a significant rent-free period and capital contribution towards the fit-out costs. Works to create state of the art studios and fit out the offices are underway and progressing well, and we expect to move in during November 2025.

In Premier’s new Christian Media Centre, we are building:

The creation of the UK’s first Christian Media Centre will be transformational, not just for Premier’s ministry, but for the wider Christian community. Premier has been blessed to work alongside a diverse and committed group of partners who share our mission. These partnerships are instrumental in helping us to extend our reach and impact, enabling us to serve a wide range of communities across the UK and beyond. The facilities at the Christian Media Centre will be available to all our partners and collaborators, offering a space for a wide variety of missional activities.

In the year, Premier was once again able to engage in several outside broadcasts, returning to the Keswick Convention, Cumbria, and making our first trip to the Isle of Wight as we broadcast from the Lionheart Festival and interviewed local church leaders. We also broadcast at Spring Harvest, Minehead and had a significant presence at New Horizon, Coleraine, Northern Ireland and the Scottish Prayer Breakfast in Edinburgh. We were also delighted to partner with Keith and Kristyn Getty for two evening Christmas concerts in Belfast.

Our listenership continues to be underpinned by the development of Premier Plus, which does for Premier and our audience what BBC Sounds does for the BBC, and now has 53,000 registered users. This year, four new podcasts were added to the stable: Step In (Bible stories for children); Bible Explored with Rico Tice (in partnership with Christianity Explored); When We Prayed (a series to mark the 70[th] anniversary of the end of WW2); and 66 Politics (engaging with the General Election). We also relaunched the Ask NT Wright Anything podcast and saw 1.5m downloads in the year, comprising pre- and post-launch figures.

In helping the Christian community to celebrate key moments in the Christian calendar, our seasonal pop-up station Premier Christmas Radio was once again well received, with streaming numbers up 42% year on year.

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PREMIER CHRISTIAN MEDIA TRUST

REPORT OF THE CHAIR (continued)

Premier Lifeline, the national Christian helpline, continued to provide a vital service to callers throughout the year. Loneliness, the cost of living crisis and fears about global instability were prevalent amongst callers’ concerns and anxieties. Throughout all of this, Premier Lifeline provided a listening ear to people in need of support and encouragement, taking 21,558 calls through the period. It also achieved the milestone of its 1.75 millionth call since its birth alongside Premier Christian Radio in 1995.

Premier achieved an exceptional surplus for the year of £1,255,047. Income increased by almost one million pounds after benefiting from some exceptional one-off receipts together with grants and donations towards the build cost of our new studios.

Premier is dependent on its loyal and generous donors, many of whom have stood with us over many years, despite what continues to be a most challenging economic time. We were pleased, therefore, to see a 2% increase in our regular donations, and total fundraising income increased by £582,784. Total donations stood at £8,600,428 which came from a range of appeals on radio, by mail, telephone and online, augmented by a number of significant individual donations. I give my heartfelt thanks to all those who support Premier in this way.

Revenues from advertising fell slightly as clients held back spend in the more challenging economic environment.

Premier continues to be very careful with its expenditure, such that overall total costs again fell by 1%. Transmission costs are our second largest cost after staff, are beyond our control and these increased by 14%. This exceptional surplus will be put to good use to provide funding for our new studios and offices and to build reserves to help sustain our core charitable purpose.

As we look ahead, we intend to grow our trading and fundraising revenues, to resource our ministry, invest in new digital capabilities and to enable Premier to establish its new long-term home, with expenditure on fitting out offices and studios for the next stage in Premier’s development. After all the challenges of cramped and unsatisfactory accommodation over recent years, a high quality, purpose-built new base will be a powerful enabler for Premier’s ambition for continuing growth and expanding reach, utilising state-of-the-art technology.

Premier celebrated its 30[th] anniversary in June 2025 and I acknowledge the significant contributions of those who have brought Premier through its many challenges to a place of solid foundations where we will build on our many strengths to serve God and his people in future.

Finally, I would like to thank our wonderfully talented and dedicated staff who, together, share an enormous commitment to Premier’s mission; it is due to their support that Premier has ended the financial year in a strong position and with a robust platform for further exciting growth and investment in developing our core charitable mission.

Sandy Muirhead Chairman Date : 7 October 2025

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PREMIER CHRISTIAN MEDIA TRUST

REPORT OF THE DIRECTORS AND STRATEGIC REPORT

The directors have pleasure in presenting their annual report and the audited financial statements for the year ended 31 March 2025, which have been prepared in accordance with the Companies Act 2006, The Charities Act 2011, the Charities Statement of Recommended Practice (Charities SORP (FRS 102)) and Financial Reporting Standard 102 (FRS 102). The annual report serves the purposes of both a Trustees’ Report and a Directors’ Report under company law.

REFERENCE AND ADMINISTRATIVE INFORMATION

Trustees and Directors

The trustees and directors, who served during the year and up to the date the financial statements were signed are as follows:

D H Barclay E C Mbakwe A M V Coombs G J Potts The Right Reverend J L C Duff D J Schofield The Lady Lenzie M G Spelman A W Muirhead J Templeman

Key Management Personnel comprise the directors and the following senior executives:

P Kerridge (deceased June 2024) K Bennett A Bellenie M Jones M O’Shea

Administration and Professional Advisors

Auditor

The auditor, Xeinadin Audit Limited, 5 Robin Hood Lane, Sutton Surrey, SM1 2SW, has expressed their willingness to continue in office and a resolution to reappoint them will be proposed at the annual general meeting.

Bankers

Barclays Bank plc, 50 Pall Mall, London SW1A 1QD and National Westminster Bank plc, PO Box 549, 1-2 Finsbury Square, London EC2A 1JH

Solicitors

Grant Saw Solicitors LLP, Ground Floor, Wood Wharf Building, Horseferry Place, Greenwich, London, SE10 9BB

Registered office and principal address

April Court, Sybron Way, Crowborough, East Sussex TN6 3DZ

STRUCTURE, GOVERNANCE AND MANAGEMENT

Premier Christian Media Trust is registered as a charity (number 287610) and is a company (number 1743091) limited by guarantee, not having a share capital.

The trustees of the charity are the directors of the charitable company and are appointed in accordance with companies’ legislation. The overseeing of the day-to-day administration of the company’s affairs is managed by the directors of the company’s wholly owned subsidiary company, Premier Christian Communications Ltd. (‘PCC’) which only has executive directors, one of whom is the Chief Executive Officer, Kevin Bennett.

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PREMIER CHRISTIAN MEDIA TRUST

REPORT OF THE DIRECTORS AND STRATEGIC REPORT (continued)

STRUCTURE, GOVERNANCE AND MANAGEMENT (continued)

All directors give of their time freely and no director received any remuneration in the year. Details of directors’ expenses and related party transactions are disclosed in Note 14 to the financial statements.

The senior executives, as listed above, are in charge of directing, controlling, running and operating the charity on a day-to-day basis. The pay of the senior executives is reviewed annually and is normally increased in accordance with average earnings.

The charity has two wholly owned trading subsidiaries, Premier Christian Communications Ltd, company number 02816074, and Christian Communication Partnership Ltd (CCP), company number 03422292. A US registered 501(c)(3) trust, Premier Insight, is also consolidated by virtue of the charity having the power to appoint the majority of the trust’s board.

Trustees are chosen through recommendation by existing trustees or other persons with a close connection to the charity. After attending a board meeting by invitation, they are appointed by the existing trustee board. New trustees are provided with information about the charity and its subsidiaries. The charity and trading company boards meet on a quarterly basis. Policies and Procedures for the induction of new trustees are contained within a Trustee and Board Members Handbook. Included in the handbook are the constitutional documentation, roles and responsibilities, codes of good practice and annual reports. The directors may make arrangements as they think fit for investments to be held by a corporate body as the nominee of the charity.

The charity is governed by its Memorandum and Articles of Association.

STRATEGIC REPORT

OBJECTIVES AND ACTIVITIES Objects

The Trust’s objects are the promotion of the Christian religion by evangelism and all other means charitable.

Aims

Broadcast the Christian Message

Premier’s aim is to continually provide a strong Christian voice to the UK through radio, on demand video, magazine and digital/web content, enabling Christians to communicate the gospel well in a digital age.

Reach those on the fringes of Faith

Premier is effectively a ‘Church without walls’, breaking out of a traditional mould to reach into people’s lives on an ongoing basis. 24/7 output is received around the world onto people’s mobile devices, in hospitals, prisons, workplaces, homes and cars.

Support the Christian Life

Premier aims to strengthen people in their spiritual life and encourage them to be effective disciples in their families and communities. Premier Lifeline offers a listening ear to hundreds of thousands of people on an ongoing basis as they experience the various challenges of life.

Support the Church

Premier aims to resource the church, irrespective of denomination, by partnering with numerous agencies in a host of activities. Our various channels and platforms provide a constant stream of promotional information of the wide range of work being carried out in every area of the church.

Campaign on issues of concern to the Christian community

Premier is committed to ensuring that a Christian worldview is represented in the Public Square. Our platforms are harnessed to ensure that churches and local and national government are informed and enabled to understand the Christian principles which undergird our common life.

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PREMIER CHRISTIAN MEDIA TRUST

REPORT OF THE DIRECTORS AND STRATEGIC REPORT (continued)

MAIN OBJECTIVES, STRATEGIES, ACTIVITIES, ACHIEVEMENTS AND PERFORMANCE DURING THE YEAR

----- Start of picture text -----
Main Objectives Strategies to Achieve Significant Activities Performance
1. To help parents and  Appoint a  Introduction of  7000 new
youth workers bring commissioning editor short form video registrations of
younger people closer to continue develop (1 minute). NexGen resources
to God. content for Premier  Creation of Mar 24-Mar 25.
NexGen and across content for  350k views of
other brands parents short form videos
 Continue  Launched Step In  40% of our
approaches within podcast (audio YouTube
the Unbelievable? Bible stories for viewership
Brand to engage with kids) comprises
young people individuals under
34 years old
2. To enable people to  Sustain and develop  Four new  Radio listening
grow in their faith every radio broadcasts and Podcasts remained high at
day. online media to meet launched. 2million listeners
the needs of our  One podcast per week.
audiences. relaunched (Ask  53,000 registered
 Develop new digital NT Wright users of Premier
products to draw Anything). Plus app
people closer to  Premier  42% increase in
God. Christmas Radio numbers accessing
continued Christmas Radio
content year on
year
 Relaunched
podcast had
433,000 downloads
3. To give people  Reach greater  School based Q  Unbelievable YouTube
resources and audiences by and A sessions channel –has had
confidence to share developing new continued 96.9m views
their faith. apologetics video  Short form videos  Conversations with
content for connecting with evangelists and
YouTube. young audiences apologists on
 Reach younger shows on all three
audiences by stations.
creating content for
new platforms where
young people are
found.
4. To create a better  Broaden the offering  Coverage of  14 million visits to
informed church on of Premier Christian General Election, the Premier
world events. News. election of Donald website sites (up
Trump, coverage 1m from last year).
of conflicts in  Positive feedback
Gaza and Ukraine from listeners on
our content.
----- End of picture text -----

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PREMIER CHRISTIAN MEDIA TRUST

REPORT OF THE DIRECTORS AND STRATEGIC REPORT (continued)

MAIN OBJECTIVES, STRATEGIES, ACTIVITIES, ACHIEVEMENTS AND PERFORMANCE DURING THE YEAR (continued)

Main Objectives Strategies to Achieve Significant Activities Performance
5. Ensure continuity
of organisation as
we inhabit Dowgate
premises.
Meetings held at
Dowgate offices when
possible
Winter and summer
gatherings brought
employees together.		 Identified a new
permanent base
in the city of
London.		 Fundraising for new
studio facilities.
Engaged in outside
broadcasts.

Public Benefit

In planning the activities for the year, the trustees have had due regard to the Charity Commission’s guidance on public benefit. During our on-air appeals we have calls from thousands of our listeners who describe how Premier’s output has helped them in their faith and day-to-day lives. Our radio and web output is free to all and can be accessed easily and widely across the UK by both Christians and non-Christians. Similarly, Lifeline and our conferences are open to all.

Fundraising

Premier has continued to invest in fundraising which has both produced a good initial return and has also given us a way of reaching more donors using an established system.

Premier’s fundraising is built on values of honesty, transparency and community. We are registered with the Fundraising Regulator and all our fundraising practices comply with the Code of Fundraising Practice. Fundraising staff within the fundraising department monitor activities and report regularly to the Trustees. We also provide Fundraising Guidelines to all volunteers who are raising funds.

The Trustees are extremely grateful to the individuals, trusts, churches and other organisations who have donated funds to Premier. We recognise that some supporters may be in vulnerable circumstances, and we take care to serve them appropriately. We will never put anyone under pressure to make a gift. Our Fundraising Complaints Policy is easily accessible on our website.

Premier receives a modest amount of support from several commercial participators, and so we have an agreement in place with each, which fully complies with the Code of Fundraising Practice requirements. We do use professional fundraisers. There have been no serious incidents or material complaints or criticisms during the year about our fundraising activities.

Trading subsidiaries

All of our radio sales income, magazine sales and subscription income and event income is managed through Premier Christian Communications Ltd (PCC). PCC also bears the full cost of the radio broadcast and production and event expenditure, although this primary purpose is in line with the objects of the charity. Christian Communications Partnership Ltd (CCP) carries out the AM transmission for both PCC and external broadcasters.

Related party

A separate US Trust, Premier Christian Media (‘PCM’) has been granted a licence to use various Premier marks and materials in marketing activity in the US in return for royalty payments arising from donations made to the US trust. For accounting purposes this trust is a subsidiary and has been consolidated this year on the basis that is material. PCMT has made loans of $104,673 to PCM for working capital purposes and it is expected that these loans will be repaid within 36-48 months.

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PREMIER CHRISTIAN MEDIA TRUST

REPORT OF THE DIRECTORS AND STRATEGIC REPORT (continued)

MAIN OBJECTIVES, STRATEGIES, ACTIVITIES, ACHIEVEMENTS AND PERFORMANCE DURING THE YEAR (continued)

Volunteers

The main use of volunteers is in the Lifeline team. The Lifeline team of volunteers actively taking calls during the year was 96, who on average each gave over 161 hours on the telephone lines during the year. Volunteers also help at events and on administrative work in the office. We continue to support volunteers with regular training and mentoring. The support and help they provide is invaluable and much appreciated.

Efficient use of resources and governance

Given the cost of living crisis, the wars in Ukraine and the Holy land, the increase in inflation and the economic climate over the past 12 months has been challenging. Premier has been overwhelmed by the generosity of our supporters during this time of financial struggle and has been dedicated to being faithful stewards of the resources, people and donations that we have been fortunate enough to receive.

PLANS FOR THE FUTURE

Our plans for the following year include:

FINANCIAL REVIEW

Premier’s surplus of £1,255,047 for the year was £1,027,652 greater than the surplus for the previous year. This increase is largely due to the receipt of some one-off and exceptional receipts and the accounting treatment of grants where capital grants are recognised as income in accordance with accounting standards. Almost £1m of the surplus will be invested in building our new studios and offices.

Income

Our fundraising has grown significantly over the years from the small network of relationships who stood with us to fund Premier Christian Radio into existence, back in 1995. Thirty years on, Premier is much more than most people imagine. With three radio stations, a suite of over 10 websites, four magazines, a national events programme, as well as Premier Lifeline: the National Christian Helpline Premier’s ministry has grown considerably over its 30 years.

Premier’s audiences for its media content, events and phone helpline ministry have also grown rapidly. We should be seeing the supporter base keeping pace; however, this is not always the case, with new radio listeners and web visitors assuming these services are free and that it doesn’t cost a lot to create and transmit good quality content. We continue to communicate the need for continual funding, while making the vast majority of our content free to access.

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REPORT OF THE DIRECTORS AND STRATEGIC REPORT (continued)

PREMIER CHRISTIAN MEDIA TRUST

FINANCIAL REVIEW (continued)

Premier has multiple well-established income streams. In addition to donations and committed giving, we also generate commercial revenue from advertising, sponsorship, magazine subscriptions, publishing, digital content, events and online sales. This helps the charity spread the risk of external influences which could negatively impact funding and so helps build stronger financial viability for the organisation.

Donations

Premier is a supporter enabled charity: 75% of our funding continues to come from donations, grants, legacies and Gift Aid. We rely on Christians across the UK to stand with us in this God-given mission.

A small Major Donor Team continues to work with individuals and families who have the desire and capacity to make gifts that will have a significant impact on the work of the ministry. Their focus has particularly been on securing gifts and donations to fund the capital works on the new studios and offices.

Commercial Income

4% of our income came from an exceptional one-off receipt. The remaining 21% of income came from commercial sources including advertising, sponsorship, magazine subscriptions, online sales, event tickets and ministry sales.

Premier attracts a wide range of advertisers from businesses, charities, churches and ministries who consider raising the profile of Christian ministries, ethical businesses and services as core to its ministry objectives or who simply recognise the potential impact of marketing their brand to the massive audiences that Premier attracts.

Advertising revenues have grown strongly in previous years, but as a result of economic uncertainty, fell by 2% in the current year. Digital revenues now account for 35% of total advertising income and are a focus for future growth.

Subscriptions to Premier’s three monthly magazines generated £495,000 in subscription income and Premier Christianity magazine remains the biggest selling monthly Christian publication in the UK. Revenue from magazines dropped by 9% with an increasing shift to lower priced digital only subscriptions.

Legacies

Premier continues to be blessed with a number of legacy gifts, which have often been incredibly timely and generous. The timing of legacies is unpredictable and after a strong level of legacy notifications in the prior year, legacy income fell by 20%.

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PREMIER CHRISTIAN MEDIA TRUST

REPORT OF THE DIRECTORS AND STRATEGIC REPORT (continued)

FINANCIAL REVIEW (continued)

Expenditure

We continue to prioritise digital developments within our Digital First strategy and with most staff currently working mostly from home due to the shortage in space in our temporary offices, investment in our digital infrastructure has and will continue.

Premier always strived hard to be as efficient as possible and to achieve the best value for money as we can. However, we faced unavoidable inflationary increases in transmission and production costs. Good cost control in other areas meant that total costs fell by 1%.

We are pleased the year saw an exceptional consolidated surplus of £1,255,047. This is an improvement on the prior year surplus of £227,395.

Year end position

The Charity had cash balances of £2,188,367 at the end of the period after achieving a surplus of £1,255,047 for the year.

Reserves Policy

The directors carry out an annual review of the reserves policy, taking account of the charity’s circumstances and the environment in which it is operating. At the year end, the group had total funds of £2,815,572 of which £342,899 were restricted and £2,472,673 were unrestricted. The cost of the new studios and offices that will be competed in November 2025 is projected to be £2,716,000. £913,000 of restricted and general reserves will be used to part fund these works, with the balance of funding from donations, grants and external sources.

The board believes that the balance on free reserves is sufficient for the current activities on the charity to continue, not least due to the resilience and diversity of its income base and the structure of its assets and liabilities.

The Trustees carefully examine the requirements of Premier to maintain an appropriate level of unrestricted reserves. In doing this, the Trustees take into account the risks itemised in the risk register, which is reviewed and updated regularly, and give due consideration as to how best to protect Premier from the consequences of a sudden or unforeseen fall in income or adverse change in circumstances.

The Board reviews the reserves policy periodically to ensure its continued suitability to enable Premier to meet its objects and fulfil its strategy whilst maintaining an appropriate minimum level of unrestricted reserves, which specifically takes into account, in addition to the risk environment in general, predictable income (after deduction of an appropriate risk margin) less predictable fixed costs over a 3 month period. The intention is that the level of liquid unrestricted reserves available to Premier should always exceed this figure.

Investment Policy

The charity has invested in its subsidiary undertakings, Premier Christian Communications Limited and Christian Communications Partnership Limited. PCMT has made loans of $104,672 for working capital purposes to PCM, the separate US Trust. The Board believe that these investments enable them to achieve their primary objects.

The trustees do not consider it appropriate for the charity to take any market risk with its investment funds (including its reserves); accordingly, these are maintained entirely in cash or short term deposits with high quality banks.

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PREMIER CHRISTIAN MEDIA TRUST

REPORT OF THE DIRECTORS AND STRATEGIC REPORT (continued)

PRINCIPAL RISKS AND UNCERTAINTIES

The major risks to which the charity is exposed, as identified by the trustees, have been reviewed and systems have been established to mitigate those risks.

One of the principal risks looking into the future is the retention of our transmission agreements. We are pleased that these have been extended to 2035.

Our cashflow has been well controlled during the year.

The main operational risk is a failure of our IT and broadcasting systems. We mitigate against these risks by having robust IT and back-up policies and have built redundancy into our systems. We update our business continuity scenario planning and have a policy of how we would respond to a disaster.

The main external risk is the effect of a major economic downturn on the donor base and fundraising income.

This risk is mitigated by having a diversified donor base and multiple fundraising income streams. Premier’s donor base has historically been responsive to appeals at times of need. It is noteworthy that Premier maintained its fundraising income during the pandemic, whilst taking prompt action to reduce costs.

Premier has strong controls and policies in place to negate and minimise any reputational risk arising from content or inappropriate behaviours.

DIRECTORS’ RESPONSIBILITIES

The directors are responsible for preparing the Directors’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the directors to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the directors are required to:

The directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention of fraud and other irregularities.

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PREMIER CHRISTIAN MEDIA TRUST

REPORT OF THE DIRECTORS AND STRATEGIC REPORT (continued)

DISCLOSURE OF INFORMATION TO AUDITORS

To the best of the knowledge and belief of the directors, there is no relevant information that the company's auditors are not aware of, and the directors have taken all the steps necessary to ensure that the directors are aware of any relevant information, and to establish that the company's auditors are aware of the information.

BY ORDER OF THE BOARD

Jonathan Templeman Chairman – Finance, Risk & Audit Committee

7 October 2025

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INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF PREMIER CHRISTIAN MEDIA TRUST

Opinion

We have audited the financial statements of Premier Christian Media Trust Limited (the ‘parent company’) and its subsidiaries (‘the group’) for the year ended 31 March 2025 which comprise the consolidated Statement of Financial Activities, the consolidated and parent Balance Sheets, the consolidated Cash Flow statement and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director’s use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report or strategic report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Page 12

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF PREMIER CHRISTIAN MEDIA TRUST (continued) R•sponslbllltl•s oldlr•¢tor As explained more fully in the directors. responsits1￿es state￿nI. the directors are responsib￿ for the prepara￿¢fi of the financial slalements and for being 88lisfied that they give a In and la(r mv, aThJ lor Such internal control as the direclor5 det8Frnine is n8ces8ary to enable Ihe pr&parnlk)n of financlal $tatÉmènts thw¢ fre0 frtxn m#tsriJ mi￿late￿￿t. etherJe to fra￿a ￿ error. In pr0Partng the financral 5taternent5. the direclor5 are res[￿¢5￿8 for ass8s&ng gYoup'8 and the parent Company's ability to continue as a gDing concem. disclosing. as applicable. mattefs r8Lqted lo g￿n9 £1￿Cern 8nd the wing Ix)wm ba$1$ of a¢¢ounDng unless the director5 ellher intend lo Iiquldats the grfmjp or the pareni ¢¢)mpaDy or ts cease opera¢ions, or have no realis￿ altemalive bul to ¢Jo so. Auditorf¥ r•sponslbilitles lor the audlt of the Ilnn¢ll st•t¢m•n¢s Our objectiV8s are to obtain r88sonaN as$urance about whether the finanual siatements BS 8 whole afe free from rnalerial m18s1atement, whelher due lo fraud or Èwor. and 10 155ue an a￿1110￿.5 report that includes our opin￿. R&asonable assuranf is a high l&vel of assurance, bul is not a guaranlee that an audit conduct8d in a¢¢wdanc witt) ISAS IVKI a￿ayS delecl a rnalerial rni55talernenl ¥hen il exists. m￿&51a1￿Ments can arise Irom fraud or error and are consider￿ ma18rial rf. iTrJMdu8lly tho aoyegale, thy o)ukJ rea$oTh8bty be oxpectod to influon¢o tho octhomic deask)ns ol users taken on Ih? basis of th888 financii18lAi8ftnts. The extent lo whtth our pro￿ure$ are ¢apable ol doto¢Orrfd 1rrngu￿￿ts8￿. Indud1r￿ fraud Is detai￿￿ b8lrrw.' B•seLI on our under51andiThJ of the wp, we kl8n1rf￿d Ih8t th¢ ￿n(3paI risk$ ol fi0nbwm￿I8n¢e wth la￿$ aThl regulations related to 8mploym8nl and financlal reportlng legi$latOl and ￿ tonsKlerod the extoni to non-complyance might have 8 m818ri81 effecl on th8 rinan¢ial $lalempn15. We also con5wJor8d Ih05e la￿ and regulal)ns thal have a diwl impact on lh8 preparation of the fina￿101 $ts1ornen15 such as the Companies Acl 2006 and Chant￿& A¢t 2011. Wo a$$o$Sod Iho suscoptsbillty olthe grrJp's financkql statements lo ma16ri81 mS8$tat•ft￿nl. i￿￿dIng obtsinlng an vnderstsndlng of how fraud rnighl occur. by maklng enquirfes ol manageThnl, consN#eTrr4 Iho intern81 t￿trOl$ in pl￿ and tJisuJssbn among51 the engagemenl leam. Wo d8lermine(I that th• piincipal we￿1•d to management txas in accounb.ng asb￿1¢$, w8senlats.fm of $eparately #Sscloseo Itoms. and manageThnt override of contrds. In responso Its Iho ri$kJ identified we designed pr¢cedures wlwth mcthd, bjl were nol limited to ¢h8llenging $ignifi¢anl 8wounbn9 eSlirnale$, 4greeirig financial st8leryenl disclo8ures lo und6rlwng supwtiw 49Cuffntal￿. trustees ffitnul•$. èvaluating Ihe group internal cgnlrols gnd identfylng 8nd 1o$1ing loUM￿ •ntrkn•. Thor• ar• inh8ronl lirnilalions in the audlt procedures described abovg. Thg t￿￿¥ removed thai tsw$ and rogul81ion$ ar0 from financial Irans8Ctlons. the less Ilk8ly It 1$ that we ffi)uld be¢on aware of non<orr¢lian¢e. Maiork41 mis$¢atements thal aris8 to fraud can be harder lo OetOCt Ih8n thos¥ Ihal arise Irom errtr ès they may in¥dve ddib8rate ccrtealmenl or colu5b￿. A further de$¢ripl'w of our r￿PonsIbl1￿0$ lor the audil ol th• fiNantso1 State￿￿?￿￿ 15 on th• Financial Repth'ng Councl's website al.. htio.'Ilwww.fr¢.org.uWauditorsrespon5its'libos. This d8sCriPtKffj forms part of tsjr auditorfs report. U•• ol our r•port This report is rnade 501ely to lh6 co￿￿nY s ￿rnber￿. as a bc#Jy. in acccrfdance ￿th Chapl8r 3 of Part 16 of Compan188 A¢1 2006. Our audit work h85 been undertaken 50 thal we migm state lo the company $ mgmbws Iho$8 nNgtter$wo arn roquir•J to stsie to Ihom in an audiior's rerth and for no other puwose. To the fullest xlent permrtted by law. ¢Jo not accept or assurno r85p)nsibilily lo anyon? ether than ihe corDpany and thè company s mernbers a5 a body. lor our audrt for this r8POrt, or for t1￿ cpnloTrs we have fomied. Mlrl•m Hi¢bon FCA IS•nlor Stalutory Audltorl fof and on behalf of X•lnadln Audlt LIm￿d Statutory Audltor Chart•r•d Aceount•n¢s 5 Rc+Jin Lar Sutton Surrey SM1 2SW Dated.. Page 13

PREMIER CHRISTIAN MEDIA TRUST

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (including the Income and Expenditure Account) FOR THE YEAR ENDED 31 MARCH 2025

Income from
Donations and legacies
2
Charitable activities
2
Other income
2
Total income
Expenditure on
Raising funds
In the United Kingdom
3
In the United States
3
Charitable activities
Broadcasting
3
Magazine publishing
3
Rates refund
3
Aborted relocation project
3
Total expenditure
Net gains on investments
6
Net income/(expenditure)
Transfer between funds
Net movement in funds
Reconciliation of funds
Fund balances brought forward
Fund balances carried forward		 Unrestricted
£
8,798,524
2,572,371
526,294
11,897,189
1,503,910
90,736
1,594,646
8,361,346
954,694
-
-
9,316,040
10,910,686
5,645
992,148
-
992,148
1,480,525
2,472,673		 Restricted
£
275,399
-
-
275,399
-
-
-
12,500
-
-

-
12,500
12,500
-
262,899
-
262,899
80,000
342,899		 2025
Total
£

9,073,923

2,572,371

526,294
12,172,588

1,503,910

90,736

1,594,646
8,373,846

954,694

-

-
9,328,540
10,923,186

5,645
1,255,047
-
1,255,047
1,560,525
2,815,572		 Unrestricted
£
8,466,022
2,595,825
38,442
11,100,289
1,492,927
129,925
1,622,852
8,034,120
1,023,669
(11,181)

109,126
9,155,734
10,778,586
43
321,746

(80,000)
241,746
1,238,779
1,480,525		 Restricted
£
76,418
-
-
76,418
-
-
-
170,769
-

-
-
170,769
170,769
-
(94,351)
80,000
(14,351)
94,351
80,000		 2024
Total
£
8,542,440
2,595,825
38,442
11,176,707
1,492,927
129,925
1,622,852
8,204,889
1,023,669

(11,181)
109,126
9,326,503
10,949,355
43
227,395
-
227,395
1,333,130
1,560,525

Page 14

Company number: 1743091

PREMIER CHRISTIAN MEDIA TRUST

CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2025

Notes
Fixed assets
Intangible assets
4a
Tangible assets
5a
Investments
6
Current assets
Debtors
7
Cash at bank and in hand
Creditors: Amounts falling due within one
year
8
Net current assets
Total assets less current liabilities
Provisions for liabilities
9
Net assets
Represented by
Unrestricted Funds
10b
Restricted Funds
10a
Total funds		 2025
£
£
269,003
56,652
12,222
337,877
1,647,330
2,188,367
3,835,697
(1,358,002)
2,477,695
2,815,572
-
2,815,572
2,472,673
342,899
2,815,572		 2024
£
£
287,865
81,014
6,577
375,456
1,289,748
1,303,644
2,593,392
(1,358,323)
1,235,069
1,610,525
(50,000)
1,560,525
1,480,525
80,000
1,560,525		 2024
£
£
287,865
81,014
6,577
375,456
1,289,748
1,303,644
2,593,392
(1,358,323)
1,235,069
1,610,525
(50,000)
1,560,525
1,480,525
80,000
1,560,525
375,456
1,235,069
1,610,525
(50,000)
1,560,525
1,480,525
80,000
1,560,525

These financial statements were approved by the directors on 7 October 2025 and signed on their behalf by:

Sandy Muirhead Director

Jonathan Templeman Director

Page 15

PREMIER CHRISTIAN MEDIA TRUST

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025

Notes
Net cash provided by operating activities
(i)
Cash flows used in investing activities
Payments for fixed asset additions
Net cash used in investing activities
Cash flows used in financing activities
Payments of finance leases
Net cash inflow
Cash and cash equivalents at start of year
Cash and cash equivalents at end of year
(i) Cash flows from operating activities
Net income for the year
Depreciation
Amortisation
Net gains on investments
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Decrease in provisions
Net cash provided by operating activities
(ii) Analysis of change in net debt
Cash
Finance lease obligations		 2025
2024
£
£
£
£
1,034,505
506,341
(149,328)
(252,686)
(149,328)
(252,686)
(454)
(15,534)
(454)
(15,534)
884,723
238,121
1,303,644
1,065,523
2,188,367
1,303,644
2025
2024
£
£
1,255,047
227,395
40,223
52,227
152,329
109,291
(5,645)
(43)
(357,582)
204,307
133
(86,836)
(50,000)
-
1,034,505
506,341
At
Cash
At
1.4.24
flows
31.03.25
£
£
£
1,303,644
884,723
2,188,367
(454)
454
-
1,303,190
885,177
2,188,367		 2025
2024
£
£
£
£
1,034,505
506,341
(149,328)
(252,686)
(149,328)
(252,686)
(454)
(15,534)
(454)
(15,534)
884,723
238,121
1,303,644
1,065,523
2,188,367
1,303,644
2025
2024
£
£
1,255,047
227,395
40,223
52,227
152,329
109,291
(5,645)
(43)
(357,582)
204,307
133
(86,836)
(50,000)
-
1,034,505
506,341
At
Cash
At
1.4.24
flows
31.03.25
£
£
£
1,303,644
884,723
2,188,367
(454)
454
-
1,303,190
885,177
2,188,367		 2025
2024
£
£
£
£
1,034,505
506,341
(149,328)
(252,686)
(149,328)
(252,686)
(454)
(15,534)
(454)
(15,534)
884,723
238,121
1,303,644
1,065,523
2,188,367
1,303,644
2025
2024
£
£
1,255,047
227,395
40,223
52,227
152,329
109,291
(5,645)
(43)
(357,582)
204,307
133
(86,836)
(50,000)
-
1,034,505
506,341
At
Cash
At
1.4.24
flows
31.03.25
£
£
£
1,303,644
884,723
2,188,367
(454)
454
-
1,303,190
885,177
2,188,367
238,121
1,065,523
1,303,644
2024
£
227,395
52,227
109,291
(43)
204,307
(86,836)
-
506,341
At
31.03.25
£
2,188,367
-
2,188,367

Page 16

PREMIER CHRISTIAN MEDIA TRUST

BALANCE SHEET
AS AT 31 MARCH 2025		 Company number: 1743091 Company number: 1743091
Notes
Fixed assets
Intangible assets
4b
Investments
6
Current assets
Debtors
7
Cash at bank and in hand
Creditors: Amounts falling due within one
year
8
Net current assets
Net assets
Represented by
Unrestricted Funds
10c
Restricted Funds
10a
Total funds		 2025
£
£
6,000
12,222
18,222
853,239
1,780,368
2,633,607
(278,824)
2,354,783
2,373,005
2,030,106
342,899
2,373,005		 2024
£
£
10,000
6,577
16,577
1,096,715
691,764
1,788,479
(282,652)
1,505,827
1,522,404
1,442,404
80,000
1,522,404

The company’s net income for the year ended 31 March 2025 was £850,601 (2024: net expenditure £162,676).

These financial statements were approved by the directors on 7 October 2025 and signed on their behalf by:

Sandy Muirhead Director

Jonathan Templeman Director

Page 17

PREMIER CHRISTIAN MEDIA TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1 ACCOUNTING POLICIES

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

Accounting convention

These accounts have been prepared under the Companies Act 2006, the Charities Act 2011 and in accordance with the Charities Statement of Recommended Practice (Charities SORP (FRS 102)) and Financial Reporting Standard 102 (FRS 102). They are prepared under the historical cost accounting basis as modified for the revaluation of investments and presented in sterling to the nearest pound.

Premier Christian Media Trust meets the definition of a public benefit entity under FRS 102. It is a company limited by guarantee, incorporated in England & Wales with registered office of 6 April Court, Sybron Way, Crowborough, TN6 3DZ.

Going concern

The directors have considered the net income and cashflow forecasts for a period of twelve months from the date the accounts were approved. They believe that sufficient resources exist for the group to continue its activities and meet all liabilities as they fall due for that period and therefore deem it appropriate to prepare the financial statements on a going concern basis.

Consolidation

The group financial statements combine the results of the trust and its subsidiary undertakings, Premier Christian Communications Limited (a Christian media company), Christian Communications Partnership Limited (a provider of radio transmission services) and Premier Insight, a separate USA Trust. Premier Christian Media Trust has the power to appoint the majority of the board of Premier Insight. The accounts have been consolidated on a line by line basis and the US figures have been translated at the year end rate.

A separate Statement of Financial Activities for the charity itself is not presented because the charity has taken advantage of the exemptions afforded by Section 408 of the Companies Act 2006.

Income

All income is included in the Statement of Financial Activities (SOFA) when the charity is legally entitled to the income, it is probable that the income will be received and the amount can be reliably measured.

Donations and gifts, including the associated income tax recoverable, are credited to the SOFA on receipt. Legacies are accounted for as soon as the charity is notified of its legal entitlement, the amount due is quantifiable and its ultimate receipt by the charity is probable.

Grants received for expenditure that must take place in future periods are deferred until the expenditure occurs. Where grant agreements contain conditions that specify the services to be performed, income is recognised only to the extent that the charity has provided the specific services.

Investment income is recognised on an accruals basis.

Broadcasting revenue is recognised when the programme or advertisement has been transmitted. Magazine revenue is recognised when the material or advertisement is published. Broadcasting and magazine revenue received in advance of transmission or publication is deferred.

Page 18

PREMIER CHRISTIAN MEDIA TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 (continued)

1 ACCOUNTING POLICIES (continued)

Expenditure

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is discounted to present value for longer term liabilities. All expenditure is accounted for on an accruals basis, and is allocated as follows:

Raising funds – All expenditure to publicise the charity and raise funds.

Charitable activities – All expenditure directly related to the objects of the charity as follows:

Support costs are allocated according to staff time and resources expended on each separate activity. The basis of allocation was updated from the previous method of allocation based on income. The comparative figures have been altered accordingly. Governance costs comprises expenditure on compliance with statutory legal requirements and is included in charitable activities.

Grants payable are accounted for when paid over or when awarded if that creates a binding obligation on the charity.

Investments

Investments are shown in the balance sheet at fair value. Where the fair value is not readily ascertainable, the directors’ best estimate is used. Gains or losses arising from revaluation are recognised in the Statement of Financial Activities as appropriate.

Intangible and tangible fixed assets

Fixed assets costing £1,000 or more are capitalised at cost. Provision is made for depreciation on all tangible assets and amortisation on all intangible assets, at rates calculated to write off the cost, less estimated residual value, of each asset in equal annual instalments over the following expected useful lives:

Goodwill – 5 years
Software & websites – 3 years
Leasehold improvements – 5 years
Fixtures, fittings and office equipment – 5 years
Computer equipment – 3 years
Studio equipment – 5 years

Debtors

Fees and extras receivable and other debtors are included at the settlement amount due. Prepayments are valued at the amount prepaid.

Cash and cash equivalents

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of opening of the deposit.

Creditors

Creditors and provisions are recognised where the charity has a present obligation arising from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are recognised at their settlement amount. Concessionary loans are included at historic cost.

Page 19

PREMIER CHRISTIAN MEDIA TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 (continued)

1 ACCOUNTING POLICIES (continued)

Financial instruments

The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Deferred taxation

Deferred taxation is provided for on the full liability method in relation to accelerated capital allowances. Substantial tax losses exist, which are expected to take many years to be relieved. In such circumstances, it is considered inappropriate to recognise a deferred tax asset beyond the level of deferred tax liability created by accelerated capital allowances. If it were certain that the tax losses will be utilised, a deferred tax asset would be recognised.

Pension costs

The group operates a defined contribution pension scheme. Contributions are accounted for when they fall due.

Operating lease commitments

These are charged to the Statement of Financial Activities on an accruals basis.

Hire purchase and finance lease transactions

Assets acquired under hire purchase agreements and finance leases are capitalised in the balance sheet and are depreciated in accordance with the company’s normal policy. The outstanding liabilities under such agreements less interest not yet due are included in creditors. Interest on such agreements is charged to the profit and loss account over the term of each agreement and represents a constant proportion of the balance of capital repayments outstanding.

2 INCOME

Donations and legacies
Donations
Legacies
Grant income
Charitable activities
Broadcasting revenue
Magazine revenue
Other trading activities
Transmission income
Insurance claim
Total income		 Unrestricted
£
8,509,828
202,613
86,083
8,798,524
1,971,188
601,183
2,572,371
21,600
504,694
526,294
11,897,189		 Restricted
£
90,600
-
184,799
275,399
-
-
-
-
-
275,399		 2025
Total
£
8,600,428
202,613
270,882
9,073,923
1,971,188
601,183
2,572,371
21,600
504,694
526,294
12,172,588		 2024
Total
£
8,209,818
253,914
78,708
8,542,440
2,064,253
531,572
2,595,825
38,442
-
38,442
11,176,707

Page 20

PREMIER CHRISTIAN MEDIA TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 (continued)

3 EXPENDITURE

a)
Total costs:
Activities
undertaken
directly
£
Raising funds
In the United Kingdom
1,276,775
In the United States
90,736
1,367,511
Charitable activities
Broadcasting
7,390,403
Magazine publishing
470,312
Rates refund
-
Aborted relocation project
-
7,860,715
Total expenditure
9,228,226
b)
Support costs
Notes
Staffing cost
Premises and maintenance
General overhead costs
Telecommunications and IT costs
Depreciation
Legal and professional
Bank charges
Governance costs
3d
Raising funds
Charitable activities		 Support
costs
£
227,135
-
227,135
983,443
484,382
-
-
1,467,825
1,694,960		 2025
Total
£
1,503,910
90,736
1,594,646
8,373,846
954,694
-
-
9,328,540
10,923,186
2025
Total
£
570,839
72,171
179,478
469,839
188,552
32,932
79,768
101,381
1,694,960
227,135
1,467,825
1,694,960		 2024
Total
£
1,492,927
129,925
1,622,852
8,204,889
1,023,669
(11,181)
109,126
9,326,503
10,949,355
2024
Total
£
621,289
88,463
237,057
530,530
157,517
88,877
67,559
130,367
1,921,659
247,031
1,674,628
1,921,659

Page 21

PREMIER CHRISTIAN MEDIA TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 (continued)

3 CHARITABLE ACTIVITIES (continued)

Wages and salaries
Social security costs
Pension
Freelance and agency staff
Other staff costs		 2025
£
3,862,475
359,152
104,152
4,325,779
820,996
65,352
5,212,127		 2024
£
3,877,499
387,284
131,166
4,395,949
796,473
130,287
5,322,709

Wages and salaries include termination payments of £43,942 (2024: redundancy payments of £37,248). These are recognised when legal agreement is reached.

The average number of employees during the year was made up as follows: 2025 2025 2024 2024
No No
Administration 14 9
Advertising 9 9
Directors 4 3
Infrastructure, Web and Database 17 13
Lifeline 4 4
Listener and Donor Relations 28 31
Programming 24 24
Magazine production 7 8
107 101
Employees of the group who received emoluments of £60,000 or more are as follows 2025 2024
No No

£60,000 - £70,000		 3 2
£70,000 - £80,000 5 8
£80,000 - £90,000 1 2
£90,000 – £100,000 2 2
£100,000 - £110,000 - 1
£110,000 - £120,000 1 -
£130,000 - £140,000 - 1

d) Governance costs comprise:

Auditors' remuneration
- for audit services
- for other services
Staff costs		 2025
£
32,750
14,326
54,305
101,381		 2024
£
31,200
11,250
87,917
130,367

Page 22

PREMIER CHRISTIAN MEDIA TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 (continued)

4 a) INTANGIBLE ASSETS: group

Cost
At 1 April 2024
Additions
Disposals
At 31 March 2025
Amortisation
At 1 April 2024
Provided
Released on disposal
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024		 Goodwill
£
494,058
-
-
494,058
484,058
4,000
-
488,058
6,000
10,000		 Software
£
403,145
75,909
(120,639)
358,415
273,355
68,085
(120,639)
220,801
137,614
129,790		 Websites
£
395,629
57,558
(67,495)
385,692
247,554
80,244
(67,495)
260,303
125,389
148,075		 Total
£
1,292,832
133,467
(188,134)
1,238,165
1,004,967
152,329
(188,134)
969,162
269,003
287,865

b) INTANGIBLE ASSETS: company

Cost
At 1 April 2024
Additions
At 31 March 2025
Amortisation
At 1 April 2024
Provided
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024		 Goodwill
£
20,000
-
20,000
10,000
4,000
14,000
6,000
10,000

Page 23

PREMIER CHRISTIAN MEDIA TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 (continued)

5 a) TANGIBLE FIXED ASSETS: group

Cost
At 1 April 2024
Additions
Disposals
At 31 March 2025
Depreciation
At 1 April 2024
Provided
Released on disposal
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024		 Leasehold
improvements
£
3,800
-
(3,800)
-
3,800
-
(3,800)
-
-
-		 Computer
equipment
£
193,731
11,910
(18,877)
186,764
166,763
19,286
(18,877)
167,172
19,592
26,968		 Studio
equipment
£
109,054
515
(1,274)
108,295
63,234
18,631
(1,274)
80,591
27,704
45,820		 Office
equipment
£
61,478
3,436
-
64,914
53,252
2,306
-
55,558
9,356
8,226		 Total
£
368,063
15,861
(23,951)
359,973
287,049
40,223
(23,951)
303,321
56,652
81,014

6 FIXED AND CURRENT ASSET INVESTMENTS

Company

Premier Christian Media Trust owns the whole of the issued share capital of Premier Christian Communications Limited (Company number 2816074) and Christian Communications Partnership Limited (Company number 3422292). Both companies are UK companies, with a registered office of April Court, Sybron Way, Crowborough, East Sussex TN6 3DZ.

The principal activity of the Premier Christian Media Trust has been to fulfil the objects of promoting the Christian faith through media activities. It does this through Premier Christian Communications Limited, which operates radio stations broadcasting nationwide and produces magazines. Christian Communication Partnership operates transmission sites.

£1 ordinary shares
Premier Christian Communications Limited:
Christian Communications Partnership Limited:
Group and company: Listed investments
Market value at 1 April 2024
Revaluation
Market value at 31 March 2025
Cost		 2025
£
-
-
6,577
5,645
12,222
9,944		 2024
£
-
-
6,534
43
6,577
9,944

Page 24

PREMIER CHRISTIAN MEDIA TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 (continued)

6 FIXED AND CURRENT ASSET INVESTMENTS (continued)

At 31 March 2025 a summary of the financial information of the subsidiaries is as follows:

Assets
Liabilities
Net assets/(liabilities)
Turnover
Expenditure
Profit/(loss
7
DEBTORS
Trade debtors
Due from group undertakings
Other debtors
Other debtors – Income tax recoverable
Prepayments
8
CREDITORS: Amounts falling due within one year
Trade creditors
Accruals and deferred income
Taxation and social security
Other creditors		 Premier
Christian
Communications
Ltd
Christian
Communications
Partnership Ltd
£
£
1,590,142
58,128
(5,985,848)
(19,046)
(4,395,706)
39,082
11,027,050
168,590
(10,484,208)
(167,021)
542,842
1,569
Group
Company
2025
2024
2025
2024
£
£
£
£
469,355
385,394
-
-
-
-
81,015
546,338
670,179
498,675
546,344
384,368
162,947
161,877
162,947
161,877
344,849
243,802
62,933
4,132
1,647,330
1,289,748
853,239
1,096,715
Group
Company
2025
2024
2025
2024
£
£
£
£
707,723
451,765
60,108
30,700
477,230
670,860
218,716
251,952
96,849
107,027
-
-
76,200
128,671
-
-
1,358,002
1,358,323
278,824
282,652

Page 25

PREMIER CHRISTIAN MEDIA TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 (continued)

9 PROVISIONS FOR LIABILITIES

Group Company Company
2025 2024 2025 2024
£ £ £ £
Other provisions - 50,000 - 50,000

A provision was included for payments that may be due under an agreement with Spurgeon's College regarding the running of the course entitled "Masters in Digital Theology". A lower figure was agreed and accrued for during the year and was subsequently paid.

10a RESTRICTED FUNDS – Group and Company

Unbelievable
Studio Fit Out
Unbelievable
Studio Fit Out
Next Generation
Local Church		 Balance b/f at
01.04.2024
-
80,000
80,000
Balance b/f at
01.04.2023
94,351
-
-
-
94,351		 Income
£
49,999
225,400
275,399
Income
£
30,501
-
33,000
12,917
76,418		 Expenditure
£
(12,500)
-
(12,500)
Expenditure
£
(124,852)
-
(33,000)
(12,917)
(170,769)		 Transfers
£
-
-
-
Transfers
£
-
80,000
-
80,000		 Balance c/f at
31.03.2025
£
37,499
305,400
342,899
Balance c/f at
31.03.2024
£
-
80,000
-
-
80,000

A grant was received to develop the Unbelievable Programme in the form of ‘Unbelievable – Big Questions’ series online.

Studio Fit Out – a transfer was made out of general funds in the prior year, into restricted funds, to correct the allocation of a grant received in the previous year that will be used to fit out the new studios.

A grant was received to produce digital content for the ‘Next Generation’ and ‘Local Church’ projects.

Page 26

PREMIER CHRISTIAN MEDIA TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 (continued)

10b UNRESTRICTED FUNDS - Group

General
General		 Balance b/f at
01.04.2024
1,480,525
Balance b/f at
01.04.2023
1,238,779		 Income
£
11,897,189
Income
£
11,100,289		 Expenditure
£
(10,910,686)
Expenditure
£
(10,778,586)		 Gains
£
5,645
Transfers
and gains
£
(79,957)		 Balance c/f at
31.03.2025
£
2,472,673
Balance c/f at
31.03.2024
£
1,480,525

The Leap of Faith Fund was established to set aside funds to finance the Charity’s move to new premises following the expiry of its previous lease and to enable it to invest in its digital development.

10c UNRESTRICTED FUNDS - Company

General
General		 Balance b/f at
01.04.2024
1,442,404
Balance b/f at
01.04.2023
1,590,729		 Income
£
8,764,338
Income
£
8,381,774		 Expenditure
£
(8,182,281)
Expenditure
£
(8,450,142)		 Gains
£
5,645
Transfers
£
(80,000)		 Balance c/f at
31.03.2025
£
2,030,106
Balance c/f at
31.03.2024
£
1,442,404

Page 27

PREMIER CHRISTIAN MEDIA TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 (continued)

11 ANALYSIS OF NET ASSETS BETWEEN FUNDS

Group
Intangible assets
Tangible assets
Investments
Net current assets
Provision for liabilities
Company
Intangible assets
Investments
Net current assets		 Restricted
funds
£
-
-
-
342,899
-
342,899
Restricted
funds
£
-
-
342,899
342,899		 Unrestricted
funds
£
269,003
56,652
12,222
2,134,796
-
2,472,673
Unrestricted
funds
£
6,000
12,222
2,011,884
2,030,106		 Total
2025
£
269,003
56,652
12,222
2,477,695
-
0
2,815,572
Total
2025
£
6,000
12,222
2,354,783
2,373,005		 Restricted
funds
£
-
-
-
80,000
-
80,000
Restricted
funds
£
-
-
80,000
80,000		 Unrestricted
funds
£
287,865
81,014
6,577
1,155,069
(50,000)
1,480,525
Unrestricted
funds
£
10,000
6,577
1,425,827
1,442,404		 Total
2024
£
287,865
81,014
6,577
1,235,069
(50,000)
1,560,525
Total
2024
£
10,000
6,577
1,505,827
1,522,404

12 FINANCIAL COMMITMENTS

The group has financial commitments in respect of non-cancellable operating leases as follows:

Within one year
Between two and five years
More than five years		 2025
£
28,618
88,387
171,250
288,255		 2024
£
54,787
94,908
193,347
343,042

The lease expense charged for the year was £194,017 (2024: £158,617).

Page 28

PREMIER CHRISTIAN MEDIA TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 (continued)

13 PENSION COMMITMENTS AND OTHER POST-RETIREMENT BENEFITS

Defined contribution scheme

The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently-administered fund. The pension cost and charge represents contributions payable by the group to the fund and amounted to £104,152 (2024: £131,166). Contributions totalling £21,971 (2024: £23,283) were outstanding at the balance sheet date.

14 RELATED PARTY TRANSACTIONS

The total employee benefits of the key management personnel of the subsidiaries were £362,053 (2024: £496,746).

No remuneration was paid to Trustees during the year or the previous year. Trustees were reimbursed expenses or had expenses paid to third parties on their behalf of £Nil (2024: £Nil) during the year.

15 POST BALANCE SHEET EVENTS

The charity has entered into an agreement for lease for new premises in 1 Tudor Street. As part of this agreement the landlord is contributing £695,000 towards the fit out works below. When the fit out works are complete, a lease will be signed. The principal terms of the lease are for a period of 12 years with a break clause after 7 years. The rent is £169,916 and service charge £117,710 a year. There is an initial rent free period of 12 months followed by 30 months at half rent. There will be a rent review after 5 years.

Building work and studio fit out contracts were signed in August 2025 for the fit out of 1 Tudor Street to the value of £1,644,272. The total project cost is £2,700,000.

Page 29