Charity number: 293825 Company number: 01978864 (England and Wales) ## RADIO ACADEMY (THE) Report of the Trustees and Unaudited Financial Statements For the year ended 31 December 2021 RADIO ACADEMY (THE) Contents Page For the year ended 31 December 2021 |Report of the Trustees|1 to 3| |---|---| |Independent Examiner's Report to the Trustees|4| |Statement of Financial Activities|5| |Statement of Financial Position|6| |Notes to the Financial Statements|7 to 12| |Detailed Statement of Financial Activities|13| ## RADIO ACADEMY (THE) Report of the Trustees ## For the year ended 31 December 2021 The Trustees, who are also directors for the purposes of company law, have pleasure in presenting their report and the financial statements for the charitable company for the year ended 31 December 2021. The Trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS 102) (effective 1 January 2019). ## **OBJECTIVES AND ACTIVITIES** The charity operates for the encouragement, recognition and promotion of excellence in all aspects of radio broadcasting and audio production in the UK, in order to maximise the potential of educational benefits this may bring. ## **Statement on public benefit** The trustees have considered the Charity Commision's guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set. ## **ACHIEVEMENTS AND PERFORMANCE** As the restrictions of the Covid pandemic continued to make in-person events impractical, we held sixteen online learning events across 2021, including a six-part focus on Women in Radio & Audio, two events looking at LGBT+ and Disability issues in the industry, and eight other events for members to learn from teams across the sector. In May 2021, we held a hybrid version of the annual Audio & Radio Industry Awards, with 100 guests at The Mayfair Theatre in London, live-streamed to more than 1000 members watching at home. In November 2021, we held a hybrid version of the annual Radio Academy Festival, with more than 50 speakers gathering in London Bridge, and more than 300 delegates participating from home. As restrictions lifted, allowing outdoor gatherings, we held Summer Socials in three cities across the UK, and Autumn Socials in 11 cities, allowing our members to meet and network in-person. Our 30 Under 30 scheme received more than 200 applications, and we introduced new methods to profile the 30 successful entrants, to further boost their profiles. We opened entries to the first year of the Radio Academy Mentoring Programme, which will match mid-career professionals with mentors for support throughout 2022. We launched new Careers Advice pages on our website, profiling 33 industry job titles, to support talent development in the sector. We issued bursaries to ten individuals for tickets at third-party conferences, and we offered 100 free places to our own Radio Academy Festival. ## **FINANCIAL REVIEW** A total surplus of £63,295 has been reported in the year 31st December 2021 ( 2020 surplus £38,951). The review of the post year-end financial results of the charity indicates that sufficient level of subscription income has been received to enable the charity to meet obligations and to continue its activities. The Trustees are in discussion regarding the long term strategy and plans for the charity and as such there is currently no formal reserves policy. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The Radio Academy is a charitable company. the charity was regidtered on 10th March 1896, charity number: 293825, and the company was incorporated on 16 January 1986, number: 01975564. The charity is constituted as a company limited by guarantee, and is governed by its Memorandum and Articles of Association on 16 January 1986 as amended by Special Resolutions dated 23 July 1991, 13 July 1992, 11 May 2006,5 July 2006 and 13 May 2009. ## **REFERENCE AND ADMINISTRATIVE INFORMATION** **Name of Charity** RADIO ACADEMY (THE) **Charity registration number** 293825 **Company registration number** 01978864 **Principal address** 303 The Pill Box 115 Coventry Road London E2 6GH 1 of 13 RADIO ACADEMY (THE) Report of the Trustees Continued For the year ended 31 December 2021 ## **Trustees** The trustees and officers serving during the year and since the year end were as follows: Kathryn Elizabeth Anastasi (Appointed: 18 February 2021) Jonathan Michael Henry Arendt Philipa Kate Aylott Harriet Bloom Dominic Peter Craven Chambers Anthony Gay Stephanie Nicola Hirst Grace Elizabeth Hopper William Reid Jackson (Appointed: 18 February 2021) Naomi Oiku Nicholas Mark Pitts Victoria Louise Stewart Helen Mariam Thomas (Appointed: 01 January 2021) Adele Patricia Yolande (Appointed: 18 February 2021) Dennie Paul Morris (: 18 February 2021) Aradhna Tayal (: 18 February 2021) Stephen John Taylor (: 18 February 2021) (: 01 January 2021) **Independent examiners** WIM Consulting Limited Office Suite 1 12b High View Parade Ilford Essex England IG4 5EP **Bankers** SG Hambros Bank Limited SG House 41 Tower Hill EC3N 4SG Barclays Bank PLC Soho Square Business Bank 27 Soho Square W1D 3QR **Solicitors** Sheridans 76 Wardour Street London W1F 0UR 2 of 13 RADIO ACADEMY (THE) Report of the Trustees Continued For the year ended 31 December 2021 Approved by the Board of Trustees and signed on its behalf by ............................................................................. Nicholas Mark Pitts 30 June 2022 3 of 13 RADIO ACADEMY (THE) Independent Examiners Report to the Trustees ## For the year ended 31 December 2021 I report to the trustees on my examination of the accounts of the Company for the year ended 31st December 2019. ## **Responsibilities and basis of report** As the charity Trustees, who are also directors for the purposes of company law, are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent examiners statement** Since the charity's gross income exceeded £250,000, your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination by virtue of my membership of ACCA, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination; or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Naveed Ikhlaq FCCA WIM Consulting Limited Office Suite 1 12b High View Parade Ilford Essex England IG4 5EP 30 June 2022 4 of 13 ## RADIO ACADEMY (THE) ## Statement of Financial Activities (including Income and Expenditure Account) For the year ended 31 December 2021 ||**Notes**|**Unrestricted**|**Restricted**|**2021**|**2020**| |---|---|---|---|---|---| |||**funds**|**funds**||| |||**£**|**£**|**£**|**£**| |**Income and endowments from:**|||||| |Donations and legacies|2|266,488|-|266,488|340,218| |**Total**||**266,488**|**-**|**266,488**|**340,218**| |**Expenditure on:**|||||| |Charitable activities|3/4|(197,441)|(5,752)|(203,193)|(301,267)| |**Total**||**(197,441)**|**(5,752)**|**(203,193)**|**(301,267)**| |**Net income/expenditure**||**69,047**|**(5,752)**|**63,295**|**38,951**| |**Reconciliation of funds**|||||| |Total funds brought forward||21,605|14,669|36,274|(2,677)| |**Total funds carried forward**||**90,652**|**8,917**|**99,569**|**36,274**| 5 of 13 Registered Number : 01978864 RADIO ACADEMY (THE) Statement of Financial Position As at 31 December 2021 ||**Notes**|**2021**|**2020**| |---|---|---|---| |||**£**|**£**| |**Fixed assets**|||| |Tangible assets|8|-|250| |||**-**|**250**| |**Current assets**|||| |Debtors|9|20,736|124,044| |Cash at bank and in hand||81,941|34,124| |||**102,677**|**158,168**| |**Creditors: amounts falling due within one year**|10|(3,108)|(122,144)| |**Net current assets**||**99,569**|**36,024**| |**Total assets less current liabilities**||**99,569**|**36,274**| |**Net assets**||**99,569**|**36,274**| |**The funds of the charity**|||| |Restricted income funds|11|8,917|17,459| |Unrestricted income funds|11|90,652|18,815| |**Total funds**||**99,569**|**36,274**| For the year ended 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. - The members have not required the company to obtain an audit of its accounts for the year in question in accordance - with section 476, - The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting - records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime. The financial statements were approved and authorised for issue by the Board and signed on its behalf by: ## Nicholas Mark Pitts Trustee 30 June 2022 6 of 13 RADIO ACADEMY (THE) Notes to the Financial Statements For the year ended 31 December 2021 ## **1. Accounting Policies** ## **Basis of accounting** The financial statements have been prepared under the historical cost convention, except for investments which are included at market value and the revaluation of certain fixed assets and in accordance with the Charities SORP (FRS 102) ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the Companies Act 2006. RADIO ACADEMY (THE) meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). ## **Funds** Unrestricted finds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purpose within the objects of the charity. The puposes and uses of the restricted funds are set out in the notes to the financial statements. ## **Incoming resources** All incoming resources are included in the statement of financial activities when the Charity is entitled to the income and the amount can be quantified with reasonable accuracy. ## **Tangible fixed assets** Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: Fixtures & Fittings 20% Straight line ## **2. Income from donations and legacies** |**Unrestricted funds**
Donations received
Subscriptions received
Sponsorships received
Donated goods and services|**2020**
**2021**
**£**
**£**
78,074
6,193
117,055
126,793
87,647
66,628
57,442
66,874
**340,218**
**266,488**| |---|---| 7 of 13 ## RADIO ACADEMY (THE) Notes to the Financial Statements Continued ## For the year ended 31 December 2021 ## **3. Costs of charitable activities by fund type** |**3. Costs of charitable activities by fund type**||||| |---|---|---|---|---| |Direct cost
Tavel and subsistence
Legal and professional
Depreciation
Storage costs
Staff costs
Sundry
Development and training
Grants paid
Grant funded cost
**Support costs**
**Ticket sales and entry fees**
Accountancy and legal fees
Consultancy fees
Subscriptions
Bank charges
Postage and stationery
Telephone and internet
Insurance
Computer expenses
Website hosting and
maintenance
**Governance costs**
Independent Examiner's
Fees
**4. Costs of charitable activities by activity type**
**Support costs**
Ticket sales and entry fees|**Unrestricted**
**funds**
**£**
133,323
325
-
250
1,429
43,667
618
452
-
-
**180,064**
12,350
-
-
1,003
-
-
828
-
3,196
-
**17,377**
**197,441**
**Activities**
**undertaken**
**directly**
**£**
185,314|**Restricted**
**funds**
**£**
-
-
-
-
-
-
-
-
5,250
-
**5,250**
-
-
-
484
-
-
-
-
18
-
**502**
**5,752**
**Support**
**costs**
**£**
17,879|**2021**
**£**
133,323
325
-
250
1,429
43,667
618
452
5,250
-
**185,314**
12,350
-
-
1,487
-
-
828
-
3,214
-
**17,879**
**203,193**
**2021**
**£**
203,193|**2020**
**£**
258,278
1,354
3,000
753
938
-
-
-
-
111| |||||**264,434**
11,300
9,228
2,019
1,970
27
190
1,157
505
9,787
650| |||||**36,833**| |||||**301,267**| |||||**2020**
**£**
301,267| 8 of 13 ## RADIO ACADEMY (THE) Notes to the Financial Statements Continued For the year ended 31 December 2021 ## **5. Net income/(expenditure) for the year** This is stated after charging/(crediting): |This is stated after charging/(crediting):||| |---|---|---| ||**2021**|**2020**| ||**£**|**£**| |Accountancy fees|-|650| |Operating lease charges - other|1,429|938| |Trustees' remuneration|250|753| ## **6. Staff costs and emoluments** |Trustees
**omparative for the Statement of Financial Activities**
**Income and endowments from:**
Donations and legacies
**Total**
**Expenditure on:**
Charitable activities
**Total**
**Net income**
**Reconciliation of funds**
Total funds brought forward
**Total funds carried forward**|**Unrestricted**
**funds**
**£**
262,144
**262,144**
(225,983)
**(225,983)**
**36,161**
(17,346)
**18,815**|**2021**
0
**0**
**Restricted**
**funds**
**£**
78,074
**78,074**
(75,284)
**(75,284)**
**2,790**
14,669
**17,459**|**2020**
0| |---|---|---|---| ||||**0**| ||||**2020**
**£**
340,218| ||||**340,218**| ||||(301,267)| ||||**(301,267)**| ||||**38,951**
(2,677)| ||||**36,274**| ## **7. Comparative for the Statement of Financial Activities** 9 of 13 RADIO ACADEMY (THE) Notes to the Financial Statements Continued For the year ended 31 December 2021 ## **8. Tangible fixed assets** |**Cost or valuation**
At 01 January 2021
At 31 December 2021
**Depreciation**
At 01 January 2021
Charge for year
At 31 December 2021
**Net book values**
At 31 December 2021
At 31 December 2020|**Fixtures &**
**Fittings**
**£**
3,763| |---|---| ||**3,763**| ||3,513
250| ||**3,763**| ||**-**| ||**250**| ## **9. Debtors** ||**2021**|**2020**| |---|---|---| ||**£**|**£**| |**Amounts due within one year:**||| |Trade debtors|2,400|98,518| |Prepayments and accrued income|-|24,466| |Other debtors|18,336|1,060| ||**20,736**|**124,044**| ## **10. Creditors: amounts falling due within one year** |Trade creditors
Other creditors
Accruals and deferred income|**2021**
**£**
-
(2,910)
6,018
**3,108**|**2020**
**£**
6,490
25,917
89,737| |---|---|---| |||**122,144**| 10 of 13 RADIO ACADEMY (THE) Notes to the Financial Statements Continued For the year ended 31 December 2021 ## **11. Movement in funds** ## **Unrestricted Funds** ||**Balance at**|**Incoming**|**Outgoing**|**Balance at**| |---|---|---|---|---| ||**01/01/2021**|**resources**|**resources**|**31/12/2021**| ||**£**|**£**|**£**|**£**| |_General_||||| |General|21,605|266,488|(197,441)|90,652| ||**21,605**|**266,488**|**(197,441)**|**90,652**| |**Unrestricted Funds - Previous year**||||| ||**Balance at**|**Incoming**|**Outgoing**|**Balance at**| ||**01/01/2020**|**resources**|**resources**|**31/12/2020**| ||**£**|**£**|**£**|**£**| |_General_||||| |General|(17,346)|262,144|(225,983)|18,815| ||**(17,346)**|**262,144**|**(225,983)**|**18,815**| ## **Purpose of unrestricted Funds** ## General To maximise the potential of the talents. ## **Restricted Funds** ||**Balance at**|**Incoming**|**Outgoing**|**Balance at**| |---|---|---|---|---| ||**01/01/2021**|**resources**|**resources**|**31/12/2021**| ||**£**|**£**|**£**|**£**| |Benevolent Fund|14,669|-|(5,752)|8,917| ||**14,669**|**-**|**(5,752)**|**8,917**| |**Restricted Funds - Previous year**||||| ||**Balance at**|**Incoming**|**Outgoing**|**Balance at**| ||**01/01/2020**|**resources**|**resources**|**31/12/2020**| ||**£**|**£**|**£**|**£**| |Benevolent Fund|14,669|78,074|(75,284)|17,459| ||**14,669**|**78,074**|**(75,284)**|**17,459**| 11 of 13 RADIO ACADEMY (THE) Notes to the Financial Statements Continued For the year ended 31 December 2021 ## **Purpose of restricted funds** ## Benevolent Fund This fund is reserved to assist and relieve the hardship and suffering of individuals in the radio/audio industry who find themselves in necessitous circumstances. ## **12. Analysis of net assets between funds** ||**Tangible**|**Net current**|**Net Assets**| |---|---|---|---| ||**fixed assets**|**assets /**|| |||**(liabilities)**|| ||**£**|**£**|**£**| |**Unrestricted funds**|||| |_General_|||| |General|-|87,433|87,433| |**Restricted funds**|||| |Benevolent Fund|-|12,136|12,136| ||**-**|**99,569**|**99,569**| |**Previous year**|||| ||**Tangible**|**Net current**|**Net Assets**| ||**fixed assets**|**assets /**|| |||**(liabilities)**|| ||**£**|**£**|**£**| |**Unrestricted funds**|||| |_General_|||| |General|250|18,154|18,404| |**Restricted funds**|||| |Benevolent Fund|-|17,870|17,870| ||**250**|**36,024**|**36,274**| 12 of 13 ## RADIO ACADEMY (THE) Detailed Statement of Financial Activities For the year ended 31 December 2021 |**INCOME AND ENDOWMENT**
**Donations and legacies**
Donations
Subscriptions
Sponsorships
Ticket sales and entry fees
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Event costs
Sundry expenses
**SUPPORT COSTS**
**Accountancy and legal fees**
Accountancy and legal fees
**Bank charges**
Bank charges
**Postage and stationery**
Postage and stationery
**Telephone and internet**
Telephone and internet
**Insurance**
Insurance
**Computer expenses**
Computer expenses
**Governance costs**
Governance costs
**Total resources expended**
**Net Income**|**£**
**2021**
6,193
126,793
66,628
66,874
**266,488**
**266,488**
(185,314)
-
**(185,314)**
(12,350)
**(12,350)**
(1,487)
**(1,487)**
-
**-**
-
**-**
(828)
**(828)**
(3,214)
**(3,214)**
-
**-**
**(203,193)**
**63,295**|**£**
**2020**
78,074
117,055
87,647
57,442| |---|---|---| |||**340,218**| |||**340,218**
(264,323)
(111)| |||**(264,434)**
(22,547)| |||**(22,547)**
(1,970)| |||**(1,970)**
(27)| |||**(27)**
(190)| |||**(190)**
(1,157)| |||**(1,157)**
(10,292)| |||**(10,292)**
(650)| |||**(650)**| |||**(301,267)**| |||**38,951**| 13 of 13 This page does not form part of the statutory financial statements ## **Issuer** Big Star Business Management Ltd **Document generated** Wed, 21st Sep 2022 10:35:19 BST **Document fingerprint** 4465c08107d724d8507db30365dafda2 ## **Parties involved with this document** ## **Document processed** ## **Party + Fingerprint** Wed, 21st Sep 2022 14:01:39 BST Wed, 21st Sep 2022 14:01:39 BST Wed, 21st Sep 2022 14:01:39 BST Mr Nicholas Mark Pitts - Signer (e6046eb2385475c275ef3154d05091d4) Hub Administrator - Copied In (f0c6970cb2cc87e547d1e7750f091b67) Samiah Bhuiyan - Copied In (c6a2b58f52948eb50e178655ac5b282d) ## **Audit history log** ## **Date** ## **Action** Wed, 21st Sep 2022 14:01:42 BST Wed, 21st Sep 2022 14:01:41 BST Wed, 21st Sep 2022 14:01:40 BST Wed, 21st Sep 2022 14:01:39 BST Wed, 21st Sep 2022 14:01:39 BST Wed, 21st Sep 2022 14:01:39 BST Wed, 21st Sep 2022 14:01:39 BST Wed, 21st Sep 2022 14:01:39 BST Wed, 21st Sep 2022 14:00:41 BST Wed, 21st Sep 2022 13:55:53 BST Wed, 21st Sep 2022 13:54:26 BST Wed, 21st Sep 2022 13:33:59 BST Wed, 21st Sep 2022 10:35:29 BST Wed, 21st Sep 2022 10:35:20 BST Wed, 21st Sep 2022 10:35:20 BST Wed, 21st Sep 2022 10:35:20 BST Wed, 21st Sep 2022 10:35:20 BST Wed, 21st Sep 2022 10:35:20 BST Mr Nicholas Mark Pitts viewed the envelope. (35.179.60.205) Document emailed to party email (13.41.80.229) Document emailed to party email (13.41.80.229) Document emailed to party email (13.41.80.229) The envelope has been signed by all parties. (35.179.60.205) Sent a copy of the envelope to Samiah Bhuiyan . (35.179.60.205) Sent a copy of the envelope to Hub Administrator . (35.179.60.205) Mr Nicholas Mark Pitts signed the envelope. (35.179.60.205) Mr Nicholas Mark Pitts viewed the envelope. (35.179.80.221) Mr Nicholas Mark Pitts viewed the envelope. (18.132.124.34) Mr Nicholas Mark Pitts viewed the envelope. (35.179.60.205) Mr Nicholas Mark Pitts viewed the envelope. (18.132.124.34) Document emailed to party email (13.40.159.65) Sent the envelope to Mr Nicholas Mark Pitts for signing. (13.40.196.187) Envelope has been set to automatically remind the active signer every 1 day(s). (13.40.196.187) Samiah Bhuiyan has been assigned to this envelope. (13.40.196.187) Hub Administrator has been assigned to this envelope. (13.40.196.187) Mr Nicholas Mark Pitts has been assigned to this envelope. (13.40.196.187) Wed, 21st Sep 2022 10:35:20 BST Envelope generated. (13.40.196.187) Wed, 21st Sep 2022 10:35:20 BST Document generated with fingerprint 4465c08107d724d8507db30365dafda2. (13.40.196.187) Wed, 21st Sep 2022 10:35:19 BST Envelope generated with fingerprint a9ffbc664739aeb618444246267a0629 (18.133.63.166)