REGISTERED COMPANY NUMBER: 02277759 (England and Wales) REGISTERED CHARITY NUMBER: 802376
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
FOR SIGNALS ESSEX MEDIA CENTRE LIMITED
SIGNALS ESSEX MEDIA CENTRE LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
| Page | |
|---|---|
| Report of the Trustees | 1 to 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 to 16 |
| Detailed Statement of Financial Activities | 17 |
SIGNALS ESSEX MEDIA CENTRE LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2025. 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 Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and Aims
To advance education, promote understanding, appreciation of, and participation in digital art, film and media for the benefit of the public, through:
-
Maintaining a media arts centre for the benefit of the public.
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Helping young people and the disadvantaged enjoy and achieve through creative activities, allowing them to develop skills, advance in life and contribute positively to society.
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Encouraging the development of the art of digital media and film.
Signals uses digital arts for social, learning, and creative outcomes and is recognised as a specialist in digital and film education. The organisation’s programme is largely focused on working with people who are educationally or economically disadvantaged. Signals seeks to diminish inequality and provide opportunities in creative technology for those less likely to have access.
Mission: Signals supports and facilitates the development of new creative ways of using digital technology to tackle social need within the region. Signals promotes learning, diversity, experimentation and equality and achieves this by working in partnership with artists, communities and other organisations.
Vision: Signals is committed to increasing equal access to digital and creative experiences. Signals vision is to positively impact peoples’ lives by encouraging creativity, developing skills and raising aspirations through creative digital production and education.
Public Benefit
In deciding a programme of activity and development the trustees have paid due regard to the Charity Commission guidance on public benefit. In seeking to achieve our aims Signals is strongly committed to working inclusively with all people in the communities it serves, much of its project work is aimed at disadvantaged children and young people who would not usually have access to media production. It is fundamental to Signals work that everyone should have access to, and increase their understanding of, digital, media and film.
Signals uses digital technologies, film and animation for social, learning and creative outcomes. Signals is a public facility that offers guidance, facilities and courses to all. Signals operates primarily in Essex but also across the Eastern region and works in partnership with other organisations and schools. Signals provides creative activities for disadvantaged groups that are free for participants and provides resources at its centre or travels to groups enabling full access to resources. Signals is especially interested in inspiring people to learn creative digital skills and prioritises groups that face barriers in formal education, either through exclusion from mainstream education or a disadvantage that prevents full participation. This could be behavioural, physical or lack of opportunity.
Interns/Volunteers
Signals has worked with five volunteers this year including students and SEND experts who have supported our projects and workshops. In this year we also had three paid internships one funded via the ‘Peoples of Essex’ project (NLHF) and two via a University of Essex scheme.
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SIGNALS ESSEX MEDIA CENTRE LIMITED
REPORT OF THE TRUSTEES - continued FOR THE YEAR ENDED 31 MARCH 2025
ACHIEVEMENT AND PERFORMANCE
Achievements
Some key achievements for 2024/2025:
Signals continues as an Arts Council England National Portfolio Organisation (NPO). Signals will receive core funding for a further two years, £66,047 in 2025/26 and an amount to be confirmed in 2026/27, enabling Signals to receive core funding for a total of four years and be a part of the national NPO network.
Key projects in 2024/25 included:
The ‘Peoples of Essex’ project is exploring the history and legacy of migrants in North Essex taking the Colchester ‘Dutch Weavers’ as an example of refugees’ positive effect on the host city’s fortunes. This year was the second of a 3-year project funded by the National Lottery Heritage Fund.
Digital Harwich, funded by the National Lottery – Reaching Communities Fund, our work aims to increase creative digital skills and confidence in children and young people in Harwich. The three-year project also aims to establish a sustainable skills hub that can continue to provide digital support at the projects end. The project has engaged 789 people this year, 100% were educationally or economically disadvantaged.
Children in Need funded year three Autism Friendly Holiday Workshop delivery. These workshops have been very popular and we have waiting lists for all activities.
Signals received capital funding from two sources, the Foyle Foundation and the Clothworkers’ Foundation totalling £16,000. These funds were used to renew equipment and improve our rentable spaces to help Signals increase earned income streams. During this year we were pleased to be able to rent out all three of our available office spaces to other creative workers.
Signals directly worked with a total of 3,685 people in this year.
Organisational
Signals continues to review and update policy and procedures and consult with stakeholders. It seeks to increase quality and productivity in all that it does and inspire those qualities in the people it works with. Signals will continue to do all that is possible to keep overheads to a minimum and diversify its income streams. In this changing economic climate Signals will regularly review and revise its organisational practices. At the end of the year Signals CEO was offered a place on the ‘Thrive Program’ delivered by the Cranfield Trust this will help future developments including the creation of a new business plan in 2025/26.
Staffing
Staff Structure:
CEO - Full Time Creative and Learning Producer – Full Time Creative Producer – Part Time Operations Co-ordinator - Part Time Media Assistant – Full Time
Page 2
SIGNALS ESSEX MEDIA CENTRE LIMITED
REPORT OF THE TRUSTEES - continued FOR THE YEAR ENDED 31 MARCH 2025
FINANCIAL REVIEW
Financial position
Signals has a diverse income from earned income streams such as commissioned work, equipment, space and skills hire as well as extensive experience in project fundraising and successful delivery. Signals also has strengths in partnership working.
Signals total reserves decreased in the financial year from £98,451 to £89,189, with restricted reserves decreasing from £90,041 to £80,905 and unrestricted reserves increasing from £410 to £8,284.
Reserves policy
Signals strives to ensure that it develops an unrestricted reserve fund of 3 months operational costs. At this time, it has not achieved this figure. It aims to build up reserves annually from earned income, each year Signals aims to increase unrestricted reserves by a minimum of £3,000 per year until this target is achieved.
PRINCIPAL RISKS AND UNCERTAINTIES
The Trustees have identified the major risks to which Signals is exposed and consider that the systems in place are adequate to mitigate those risks. The risks and systems are continually reviewed as appropriate:
The major risks identified include:
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Maintaining funding for services.
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Ensuring correct policies are in place and adhered to when working with young and vulnerable groups.
FUTURE PLANS
Next year's developments are to continue to implement the current business plan, and create a new plan for 2026. The current aims of the organisation are:
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To be established as experts in creative digital learning
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To increase the reach and diversity of the organisation in its workforce and audience
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To improve quality in output and process
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To create sustainable growth
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To develop talent
In addition, Signals aims to focus on continuing to deliver its program supporting those with educational or economic disadvantage.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is constituted as a company limited by guarantee and is therefore governed by a memorandum and articles of association.
Recruitment and appointment of new trustees
Signals appointment of trustees is by invitation from the existing board and through advertisement when need is identified. Signals strives to have a balance of expertise, diversity and experience represented on the board of trustees. The charity is pleased to have appointed 3 new trustees to the board during the second half of the year.
A structured and open recruitment programme operates and the charity will continue to seek to expand the diversity of its board in any future appointments. Future recruitment will be made in line with increasing diversity including those with lived experience similar to the communities we are working with, gender and ethnicity, and any identified skills gaps.
Organisational structure
The charity is organised so that the trustees meet quarterly, ad hoc meetings of the board are also called when the trustees see fit.
Page 3
IGNALS ESSEX MEDIA CENTRE LIMITED REPORT OF THE TRUSTEES- contlnuod FOR THE YEAR ENDED 31 MARCH 2025 Inductlon and tralnlng of new trustees Signals have a board induction pack which is almed at provlding members of the board with all th8 relevant information lo make them aware of their responsibilities. Thls year Signals also invited new trustees to the Offi to spend some time asklng questions and meeting slaff. REFERENCE AND ADMINISTRATIVE DETAILS Reglstered Company number 02277759 (England and Wales) Reglstsred Charlty number 802376 R•glstered offlco Vlctorla Chambers St. Runwald Street Cdchester Essex C01 1HF Trustsas Ms D Roome MrAGrady Mr N 81ower MrJEM8ry Mr J Saward Mr D F Wotton Ms A K Cotterlll Mrs S J Davles Ms M-F Greenhalgh Mrs R K Wlnward reslgnod 19 June 2024 appolnted 4 December 2024 appointed 4 December 2024 appolnted 19 March 2025 Company S•cr•tary Ms D Blshop Indèpondont Examlner TC Group 110e Grey Square De Grey Road Colchester C04 5YQ Admlnlstratlon Staff Rachel Hlpklss - Chief Executlve Officer Thls report has been prepared In accordance wlth the speclal provislons of Part 15 of Comp8nles Act 2008 relailng to small rnpanIes. Approved by order of the board of truste8s on 17th September 2025 and slgn8d on its behalf by. Ms D Roome - Trustee Page 4
NDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SIGNALS ESSEX MEDIA CENTRE LIMITED Indep8ndent oxaminer's report to tho trusta85 of Slgnals Essex Madla Cantre Llmltad I'the Company.) I reprrt to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025. Responslbllftlas and bas18 of roport As the charlty's truste8s of the Company land also Ils dlrectors for the purposes of company law) you are responslble for th8 preparation of the accounts in accordancE wlth th8 requirements of the Companies Act 20061'lhe 2006 Act,). HavirKJ satisfied myself that the accounts of the Company are not required lo be audlted under Part 16 of the 2006 Act and are 8llglble for independent examlnatlon, I report In r8spect of my 8xamination of your charitys accc4Jnts as carried out under sectlon 145 of the Charities Act 20111'the 2011 Acl'l. In r2rrylng out rny examlnation1 hav6 followed the Dir8Ctions given by the Charlty Commission und8r section 145{5) (b) of th8 2011 AGI. Indap8ndant examln•r's statement I hav8 completed my 8xamlnatlon. I conflmi that no rnatlers have come lo my att8ntlon In coM8Ctlon wlth the 8xarnlnation glving me cause to believe that In any material respect: Accounllng r8cords were not k8pI in respect of the Company 8s requlred by section 386 of th8 2006 Act; or the accounts do not accord wlth those rerrjrds; or the aCCA)unts do not comply with the a¢¢ountlrvJ requlrements of sectlon 396 of the 2006 Act other than any requlr8m8nl that the accnunls glve a true and falr v18w whlch Is rt 8 matter considered as part ol an Inde1XIent 8xamlnallon; or the accounts have not been prepar8d In acccYdancA wlth the methcxls ar¥J 1ndpIeS of the Stalement of R8commended Pr8CtIc8 for accountlng and reportlrKJ by (thar6118s (aprAlcable to dtIeS preparirKJ thelr accounts #i accordance with the Financlal R8Wtlng Standard appllcable In the UK arKI Rewbllc ol Ireland (FRS 102)1 I have no concéms and hav6 come across no other matters In connectlon wlth the examlnatlon to whlch attentk)n slKyJld be drawn In thls report In order to enable a proper understsnding of the accounts to be reathed. J8cquelln8 Frost ACA TC Group 11 De Grey Square De Grey Road Cdchester C04 5YQ * 2025 Pag8 5
SIGNALS ESSEX MEDIA CENTRE LIMITED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025
| 2025 | 2024 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| Funds | Funds | Funds | Funds | ||
| Notes | £ | £ | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||||
| Charitable activities | |||||
| Education, training and production | 5 | 87,312 | 83,708 | 171,020 | 196,606 |
| Other trading activities | 3 | 17,179 | - | 17,179 |
8,186 |
| Other Income | 5 | 2,000 | - | 2,000 | 3,181 |
| Investment Income | 4 | 389 | - | 389 | 411 |
| Total | 106,880 | 83,708 | 190,588 |
208,384 | |
| EXPENDITURE ON | |||||
| Charitable activities | |||||
| Education, training and production | 98,857 | 100,993 | 199,850 | 163,718 | |
| NET INCOME / (EXPENDITURE) | 8,023 | (17,285) | (9,262) | 44,666 | |
| Transfers between funds | (149) | 149 | - | - | |
| Net movement in funds | 7,874 | (17,136) | (9,262) | 44,666 | |
| RECONCILIATION OF FUNDS | |||||
| Total funds bought forward | 410 | 98,041 | 98,451 | 53,785 | |
| TOTAL FUNDS CARRIED FORWARD | 8,284 | 80,905 | 89,189 | 98,451 |
Page 6
IGNALS ESSEX MEDIACENTRE LIMITED BALANCE SHEET 31 MARCH 2025 2025 2024 Notes FIXED ASSETS Tangibl8 assets 11 1,106 1.098 CURRENT ASSETS Stocks Debtors falllng due withln c@ year Debtors fallhg due after one year Cash at bank and In hand 12 13 13 300 40,623 17,500 39,58e 300 38,803 52,500 14,187 98,009 105,790 CREDITORS Amounts falling due wlthln one year 14 (9.926) (8.437) NET CURRENT ASSETS 88,083 97,353 TOTAL ASSETS LESS CURRENT LIABILITIES 89,189 98.451 NET ASSETS 89.189 98,451 FUNDS Unrestrlcted funds Restrlcted funds 16 8,284 80,905 410 98,041 TOTAL FUNDS 89,189 98,451 The charltable company Is entlued to exemptlon from audlt under Sectlon 477 of the Companles Acl 2006 for the year 8nded 31 March 2025. The members have not requlred the company to obtaln an audlt of Its flnanclal stalem8nts for the y8ar ended 31 March 2025 In accordance wSth Section 476 of the Comp8nl8s Act 2006. The trustees acknowledge thelr responslbllltles for ensudng that the ¢harftable company keeps accountlrvJ records that comNy wlth Sectlons 386 and 387 of the Canpanles Act 2006 and preparlng financlal statements whlch glve a true and falr vlew of thè state of affairs of the charitable company as at the end of each flnanclal year and of its surplus or deficlt for each financlal year in a(ordanCe wlth the requlrements of Sections 394 and 395 and whlch Othese (x)m1Y wlth the requirements of the Companies Act 2006 relating to flnanclal statements, so far as appllcable to th8 charitsblè company, These financlal statemenls have been prepared In accordanc wlth the provlslons applic8bl8 to chaTStable companles sublect lo the small ¢cpanies, gIrne. The financlal statements were 8pproved by Ihe Board of Trust88s on 17th September 2025 and were sigr*d on its behalf by: (a) (b) Ms D Roome - Trustee Mr D Wottim - Trustee Pag8 7
SIGNALS ESSEX MEDIA CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared 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' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention and in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Grant income is recognised when the charity is notified that the grant has been awarded and the amount of the grant has been confirmed. Where grants are received before the period for which the grant has been awarded the income is deferred until that period.
Education and production income is recognised in the period that the services or courses were provided.
Income from equipment and studio hire is recognised in the period to which it relates. Hire income received in advance at the year-end is treated as deferred income.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of resources.
Allocation and apportionment of costs
Support costs are those costs which have not been directly allocated to an activity of the charity but nevertheless support those activities. Support costs have been allocated on the basis of the estimated time involved.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost for first year and 10% on cost thereafter Computer equipment - 50% on cost for first year and 25% on cost thereafter For simplicity assets costing less than £1,000 are written off in the year of purchase.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Cash and cash equivalents
Cash and cash equivalents include cash in hand, bank deposits held at call and other short-term liquid investments with original maturities of less than 3 months.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Designated funds are unrestricted funds earmarked by the trustees for a particular purpose.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in note 16 to the financial statements.
Page 8
SIGNALS ESSEX MEDIA CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS – continued FOR THE YEAR ENDED 31 MARCH 2025
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
2. CRITICAL ACCOUNTING ESTIMATES & JUDGEMENTS
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
In respect of the prior year ended 31[st] March 2024, the trustees used their judgement in the accounting treatment of income due in respect of NL Reaching Communities - Digital Harwich and determined that it is receivable in full at the start of the project.
| 3. | OTHER TRADING ACTIVITIES | ||
|---|---|---|---|
| 2025 | 2024 | ||
| £ | £ | ||
| Equipment hire/sales & space hire | 14,680 | 6,860 | |
| Donations | 2,499 | 1,326 | |
| 17,179 | 8,186 | ||
| 4. | INVESTMENT INCOME | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Deposit account interest | 389 | 411 |
5. INCOME
Income from charitable activities comprises:
| Income from charitable activities comprises: | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Education, training and production income | 22,312 | 16,106 |
| Grants | 148,708 | 180,500 |
| Total | 171,020 | 196,606 |
| Other Income comprises:- | ||
| Contributions to cost of Interns | 2,000 | - |
| Insurance claim proceeds for increased working costs during Covid lockdowns | - | 2,681 |
| Business support grant for increased costs during Covid restrictions | - | 500 |
| Total | 2,000 | 3,181 |
6. SUPPORT COSTS
Included in expenditure on charitable activities are support costs of £156,885 (2024: £138,326) as the charity only has one activity, all support costs are attributed to that activity.
Page 9
SIGNALS ESSEX MEDIA CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS – continued FOR THE YEAR ENDED 31 MARCH 2025
7. NET INCOME /(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| Net income/(expenditure) is stated after charging/(crediting): | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Independent examiner's remuneration – IE fee | 1,320 | 1,260 |
| Operating lease – property rental | Operating lease – property rental 11,054 |
11,083 |
8. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.
9. STAFF COSTS
| 9. STAFF COSTS |
||||
|---|---|---|---|---|
| 2025 | 2024 | |||
| £ | £ | |||
| Wages and salaries | 120,791 | 105,622 | ||
| Social security costs | 5,383 | 4,057 | ||
| Other pension costs | 2,627 | 2,326 | ||
| __ ___ | __ ___ | __ ___ | __ ___ | __ ___ |
| Total staff costs | 128,801 | 112,005 | ||
| The average monthly number of employees during the year was as follows: | The average monthly number of employees during the year was as follows: | |||
| 2025 2025 | 2025 2025 | 2024 | 2024 | |
Employees |
FTE’s | Employees | FTE’s | |
| Production and Support | Production and Support 5.0 |
4.2 | 4.6 | 3.5 |
No employees received emoluments in excess of £60,000.
Page 10
SIGNALS ESSEX MEDIA CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS – continued FOR THE YEAR ENDED 31 MARCH 2025
10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | Restricted | Total | |
|---|---|---|---|
| Funds | Funds | Funds | |
| £ | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Charitable activities | |||
| Education, training and production | 81,106 | 115,500 | 196,606 |
| Other trading activities 8,186 | Other trading activities 8,186 | - | 8,186 |
| Other Income | 3,181 | - | 3,181 |
| Investment Income | 411 | - | 411 |
| Total | 92,884 | 115,500 | 208,384 |
| EXPENDITURE ON | |||
| Charitable activities | |||
| Education, training and production | 94,816 | 68,902 | 163,718 |
| NET INCOME/(EXPENDITURE) | (1,932) | 46,598 | 44,666 |
| Transfer between funds | (947) | 947 | - |
| Net Movement in funds | (2,879) | 47,545 | 44,666 |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 3,289 | 50,496 | 53,785 |
| TOTAL FUNDS CARRIED FORWARD | 410 | 98,041 | 98,451 |
| 11. TANGIBLE FIXED ASSETS | Fixtures | Computer | |
| and | and film | ||
| fittings | equipment | Totals | |
| COST | £ | £ | £ |
| At 1 April 2024 | 306 | 27,576 | 27,882 |
| Additions during the year | - | 1,139 1,139 |
1,139 |
| At 31 March 2025 | 306 | 28,715 | 29,021 |
| DEPRECIATION | |||
| At 1 April 2024 | 306 | 26,478 | 26,784 |
| Depreciation during the year | - | 1,131 | 1,131 |
| At 31 March 2025 | 306 | 27,609 | 27,915 |
| NET BOOK VALUE | |||
| At 31 March 2025 | - | 1,106 | 1,106 |
| At 31 March 2024 | - | 1,098 | 1,098 |
Page 11
SIGNALS ESSEX MEDIA CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS – continued FOR THE YEAR ENDED 31 MARCH 2025
12. STOCKS
| 12. STOCKS | ||
|---|---|---|
| Stocks 13. DEBTORS Trade debtors Prepayments & accrued income |
2025 £ 300 2025 £ 54,100 4,023 58,123 |
2024 £ 300 |
| 2024 £ 88,185 3,118 |
||
| 91,303 |
| Included in trade debtors above is £17,500 (2024: £52,500) due after more than one year. 14. CREDITORS 2025 £ Trade creditors 4,076 Accruals, deposits held and deferred income 5,850 9,926 |
2024 £ 3,711 4,726 |
|---|---|
| 8,437 |
15. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Fixed assets Current assets Current liabilities |
Unrestricted Funds £ 386 15,774 (7,876) 8,284 |
Restricted Funds £ 720 82,235 (2,050) 80,905 |
2025 Total Funds £ 1,106 98,009 (9,926) 89,189 |
2024 Total Funds £ 1,098 105,790 (8,437) |
|---|---|---|---|---|
| 98,451 |
Page 12
SIGNALS ESSEX MEDIA CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS – continued FOR THE YEAR ENDED 31 MARCH 2025
16. MOVEMENT IN FUNDS
| Net | Transfers | |||
|---|---|---|---|---|
| At | movement in | between | At | |
| 1.4.24 | funds | funds | 31.3.25 | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 410 | 8,023 | (149) | 8,284 |
| Arts Council England NPO grant | - | - | - | |
| Restricted funds | ||||
| BBC Children in Need | - | - | - | |
| NLHF Peoples of Essex | 4,858 | 8,635 | 13,493 | |
| Foyle Foundation | - | 720 | 720 | |
| NL Reaching Communities - Digital Harwich | 88,000 | (32,776) | 55,224 | |
| Digital Days - Tendring District Council | - | - | - | |
| Garfield Weston Foundation | - | 10,000 | 10,000 | |
| The Clothworkers’ Foundation | - | (149) | 149 | - |
| The Charles S French Charitable Trust | - | 1,468 | 1,468 | |
| Essex Community Foundation 2024/25 | - | - | - | |
| Essex Community Foundation 2024 | 4,583 | (4,583) | - | |
| Colchester BC – Enjoy Colchester Fund | 600 | (600) | - | |
| Total Restricted funds | 98,041 | (17,285) | 149 | 80,905 |
| TOTAL FUNDS | 98,451 | **(9,262) ** | - | 89,189 |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 41,880 | (33,857) | 8,023 | |
| Arts Council England NPO grant | 65,000 | (65,000) | - | |
| Total Unrestricted funds | 106,880 (98,857) | 106,880 (98,857) | 8,023 | |
| Restricted funds | ||||
| BBC Children in Need | 4,398 | (4,398) | - | |
| NLHF Peoples of Essex | 37,400 | (28,765) | 8,635 | |
| Foyle Foundation | 10,000 | (9,280) | 720 | |
| NL Reaching Communities - Digital Harwich | - | (32,776) | (32,776) | |
| Digital Days – Tendring District Council | 2,910 | (2,910) | - | |
| Garfield Weston Foundation | 15,000 | (5,000) | 10,000 | |
| The Clothworkers’ Foundation | 6,000 | (6,149) | (149) | |
| The Charles S French Charitable Trust | 3,000 | (1,532) | 1,468 | |
| Essex Community Foundation 2024/25 | 5,000 | (5,000) | - | |
| Essex Community Foundation 2024 | - | (4,583) | (4,583) | |
| Colchester BC – Enjoy Colchester Fund | - | (600) | (600) | |
| Total Restricted funds | 83,708 | (100,993) | (17,285) | |
| TOTAL FUNDS | 190,588 | (199,850) | (9,262) |
Page 13
SIGNALS ESSEX MEDIA CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS – continued FOR THE YEAR ENDED 31 MARCH 2025
MOVEMENT IN FUNDS- continued
Comparatives for movement in funds
| Net | Transfers | |||
|---|---|---|---|---|
| At | movement in | between | At | |
| 1.4.23 | funds | funds | 31.3.24 | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 3,289 | (1,932) | (947) | 410 |
| Arts Council England NPO grant | - | - | - | - |
| Restricted funds | ||||
| BBC Children in Need | 2,683 | (2,683) | - | - |
| NLHF Peoples of Essex | 44,413 | (39,555) | - | 4,858 |
| Awards For All - Website | 3,400 | (4,347) | 947 | - |
| NL Reaching Communities – Digital Harwich | - | 88,000 | - | 88,000 |
| Essex Community Foundation 2023 | - | - | - | - |
| Essex Community Foundation 2024 | - | 4,583 | - | 4,583 |
| Colchester CC – Enjoy Colchester Fund | - | 600 | - | 600 |
| Total Restricted funds | 50,496 | 46,598 | 947 | 98,041 |
| TOTAL FUNDS | 53,785 | 44,666 | - | 98,451 |
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 27,884 | (29,816) | (1,932) |
| Arts Council England NPO grant | 65,000 | (65,000) | - |
| Total Unrestricted funds 92,884 (94,816) (1,932 | Total Unrestricted funds 92,884 (94,816) (1,932 | Total Unrestricted funds 92,884 (94,816) (1,932 | Total Unrestricted funds 92,884 (94,816) (1,932) |
| Restricted funds | |||
| BBC Children in Need | - | (2,683) | (2,683) |
| NLHF Peoples of Essex | - | (39,555) | (39,555) |
| Awards For All – Website | - | (4,347) | (4,347) |
| NL Reaching Communities - Digital Harwich | 105,000 | (17,000) | 88,000 |
| Essex Community Foundation 2023 | 4,900 | (4,900) | - |
| Essex Community Foundation 2024 | 5,000 | (417) | 4,583 |
| Colchester CC – Enjoy Colchester Fund | 600 | - | 600 |
| Total Restricted funds | 115,500 | (68,902) | 46,598 |
| TOTAL FUNDS | 208,384 | (163,718) | 44,666 |
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SIGNALS ESSEX MEDIA CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS – continued FOR THE YEAR ENDED 31 MARCH 2025
Restricted Funds
Resources expended on completed projects exceed incoming resources, by virtue of the staff costs and allocated support costs attributable to the project. These costs are included in unrestricted expenditure.
BBC Children in Need: Accessible workshops - Autism Friendly workshops supporting smaller groups with special educational needs, learning digital and filmmaking skills alongside developing confidence, communication and team working.
National Lottery Heritage Fund: “Peoples of Essex”: funding for a three-year project that engages communities in better understanding the role that migrants and refugees have had in developing north Essex.
National Lottery Reaching Communities Fund: To fund ‘Digital Harwich’ a project that supports creative digital access in Harwich working with local schools and community groups, providing skills training, progression pipelines and local activities.
Digital Days – Tendring District Council: additional support for our Digital Harwich project ‘digital days’ provided a three-day holiday workshop for children in Harwich creating video games and robots, children attending received lunch and a ‘micro:bit’ mini computer to take home.
Foyle Foundation: Capital funding to support the renewal of equipment and improvements to office and studio spaces, helping to develop sustainable income.
Garfield Weston Foundation: Funding for Signals core costs.
The Clothworkers’ Foundation: Capital funding to support the renewal of equipment and improvements to rentable and public spaces, helping Signals generate increased earned income.
The Charles S French Charitable Trust: Autism friendly workshops in Harwich.
Essex Community Foundation 2024/25: To cover core cost associated with the Digital Harwich project.
Essex Community Foundation 2024: Towards the costs of Signals holiday workshops.
Essex Community Foundation 2023: Towards the cost of Game Academy, a weeklong programme that developed game design skills and provided industry and career progression insights.
Awards For All: Funding towards CRM software and a new website design and build.
Colchester BC Enjoy Colchester Fund: Towards a creative digital networking event in Colchester.
17. OTHER FINANCIAL COMMITMENTS
A new five-year lease on its premises at St Runwald Street was signed effective from 31[st] January 2023, with an annual rental charge of £12,000 that commenced from 24 June 2023. The benefit of the rent-free period is being spread over the term of the lease. Signals has been at this address since 1998.
18. RELATED PARTY DISCLOSURES
Key management remuneration
The key management personnel comprise the trustees, Chief Executive Officer, Operations Co-ordinator/ Company Secretary and the Creative and Learning Producer. The total employee benefits of the key management personnel were £86,416 (2024: £83,824)
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SIGNALS ESSEX MEDIA CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS – continued FOR THE YEAR ENDED 31 MARCH 2025
19. GOING CONCERN
Unrestricted and undesignated reserves increased during the year by £7,874 to £8,284 but remain short of its reserve policy goal of £45,000. In 2023 Signals were successful in securing three grants all of three years duration. NLHF Peoples of Essex project £93,500 of which 50% was received in February 2023 and 40% in July 2024. NL Reaching Communities Fund Digital Harwich project £105,000 payable in half-yearly instalments of £17,500 from October 2023. The ACE NPO award worth initially £195,000 over 3 years payable quarterly £16,250 from April 2023, this has been increased by £1,047 to £66,047 for 25/26 and has also been extended by a further one year to 31 March 2027, with the grant value to be confirmed. On 6 December 2024 Signals was also awarded one year core funding grant of £15,000 from the Garfield Weston Foundation.
The board believe with these funds already secured and with the expected new grants that will become available Signals will be able to maintain positive cash flows for the foreseeable future. As a result, the going concern basis of accounting has been adopted.
20. OPERATING LEASES
As at 31 March 2025 the charity has payments due under operating leases as follows:
| Property | |||
|---|---|---|---|
| 2025 | 2024 | ||
| £ | £ | ||
| Within one year | 12,000 | 12,000 | 12,000 |
| Between two and five years | 22,216 | 22,216 | 34,216 |
21. OTHER INFORMATION
The charity is a private company limited by guarantee, incorporated and registered in England & Wales. The charity's registered office is: Victoria Chambers, St Runwald Street, Colchester, Essex, CO1 1HF.
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SIGNALS ESSEX MEDIA CENTRE LIMITED
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Other trading activities | ||
| Equipment hire/sales & space hire | 14,680 | 6,860 |
| Donations | 2,499 | 1,326 |
| 17,179 | 8,186 | |
| Investment income | ||
| Deposit account interest | 389 | 411 |
| Charitable activities | ||
| Education, training and production | 22,312 | 16,106 |
| Grants | 148,708 | 180,500 |
| 171,020 | 196,606 | |
| Other Income | ||
| Contributions to cost of Interns | 2,000 | - |
| Insurance claim – increased costs of working during Covid restrictions | - | 2,681 |
| Grant– increased costs of working during Covid restrictions | - | 500 |
| ____ | ____ | |
| 2,000 | 3,181 | |
| ____ | ____ | |
| Total incoming resources | Total incoming resources 190,588 |
208,384 |
| EXPENDITURE | ||
| Charitable activities | ||
| External projects | 6,473 | 2,296 |
| Restricted projects | 36,492 | 23,096 |
| 42,965 | 25,392 | |
| Support costs - Management | ||
| Wages and Salaries | 120,791 | 105,622 |
| Social security | 5,383 | 4,057 |
| Pensions | 2,627 | 2,326 |
| Rent and rates | 11,054 | 11,083 |
| Insurance | 2,131 | 2,038 |
| Energy and water | 3,673 | 2,716 |
| Repairs, Equipment and waste | 926 | 1,456 |
| Telephone, postage, photocopier, stationery | 1,918 | 2,413 |
| Travel & conference expenses | 103 | 64 |
| Advertising & marketing | 304 | 519 |
| Accounting/payroll system | 429 | 396 |
| Subscriptions & publications | 1,810 | 431 |
| Staff costs, development & recruitment | 1,170 | 472 |
| Security Alarms and Fire Protection | 1,732 | 1,538 |
| Depreciation Equipment | 1,131 | 1,560 |
| 155,182 | 136,691 | |
| Governance costs | ||
| Independent examiner’s fees | 1,320 | 1,260 |
| Accountancy and professional fees | 383 | 375 |
| 1,703 | 1,635 | |
| Total resources expended | 199,850 | 163,718 |
| Net income/(expenditure) | (9,262) | 44,666 |
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