Charity registration number NIC105020 Company registration number N1601965 (Northern Ireland) DRIVE 105 FM COMMUNITY RADIO LTD ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023
DRIVE 105 FM COMMUNITY RADIO LTD CONTENTS Page Charty Information Trustees, report Independent examine¢s report Statement of financial activrties Balance sheet Notes to the financial stalements 9-16
DRIVE 105 FM COMMUNITY RADIO LTD LEGAL AND ADMINISTRATIVE INFORMATION Trustses Richard Moore Linda Evers Cheung Tara Evers Cheung Michael J Kielty Ursula Moore Emmett Dohety (Appointed 4 May 2023) Secretary Richard Moore Charity number NIC105020 Company number N1601965 Registered office 2 St Joseph's Avenue Abercom Road Dery-Londonderry BT48 6TH Independent examiner Moore (Nl) LLP 21123 Clarendon Street DerylLondonderry BT48 7EP Bankers Danske Bank Donegall Square West Belfast PO BOX 183
DRIVE 105 FM COMMUNITY RADIO LTD TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 JANUARY2023 The trustees presenttheir annual report and finanal statements forthe year ended 31 January 2023. The financial statements have been prepared in ac¢ordants wrth the accounting policies set out in note 1 to the rinancial slalements and ¢omply wtth the charity's governing document, Ihe Companies Act 2006 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charilies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (effedive 1 January 2019)". Objectives and activities Drive 105 FM Community Radio Ltd is a not for profft. cross community radio station. We host a wide range of shows focusing on providing entertainment ranging from the late 1960's to present day, promoting and developing the Arts locally, providing a forum that enables debate around current local issues and acting as a voice of the communty reflecting the multi-cultural society that we live in. The objects of the company as staled in the Memorandum & Articles of Association are restricted to the following.. To promote for the benefit of the people of Northern Ireland the provision of Community Media. in all its foms, as cultural, recreational and educational facilities for individuals and groups, particularly those in need by reason of Iheir age, disablement. financial hardship or soual and economic ¢ircumstan¢e5, in the interest of social welfare and with the object of improving the life of Ihe said persons,. To advance education. the provision of educats'on and aCsS to education in particular vocational education and training in media skills and work.. To promote and advan such other charitable objects as may from time to time be detemined by the members of the company,. and To educate and train people in broadcast, technical and joumalistic skills to enable them to seek employment in these fields or otherwise benefit. The trustees have paid due regard to guidance issued by the Charty Commission in deciding what activities the charity should undertake. The servic& has bèen broadcasting 24 hours per day, 7 days per week since 27th January 2009. Wrth our increased capacity, our outside broadca51 recording and editing capabilities and daily discussion programme, our engagement with the community has continued to grow. In 2022 Drive 105 successfully applied to Ofcom for a licence to broadcast on the new Small Scale OAB {SSDI multiplex in the Northwest area. sin August 2022 we have been broadcasting on the SSD platform as well as on FM. This has significantly increased our coverage area and our ability to engage with a wider audience. In particular we are now broadcasting in Strabane, Co. Tyrone which, up to August last year was beyond our FM coverage. We continue to cover a wide variety of issues induding,. politics, community relations. business, local and internalional charities, sport, health. entertainment. For 14 years, Drive 105 has played an integral part in all aspects of community lrfe throughout the entire area. Through our various programmes we have reflecled the views. news and issues affecting our local community as well as playing classics from the 60's, 70's 80,5 90's and present day. Significantty. we have also been a vehicle through which community groups, charities, businesses and the arts have been able to promote themselves. This level of engagement will continue to grow. particularly in our new coverage areas.
DRIVE 105 FM COMMUNITY RADIO LTD TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JANUARY2023 Public benefit The benefrt which flows from the provision of communty media, in all its foms, as cultural, recreational and educational facilities is that individuals and groups. particularly those in need by reason of their age, disablement, financial hardship or social and economic circumstsnces will have improved qualty of life and have a sense of community. Over the last 14 years, we have continued to play an integral part in all aspects of community lrfe Ihroughout the entire area. By covering a wide variety of issues including., politics. community relations, business, local and global affairs. sport. health, entertainment. we are keeping local people in touch with what's happening in their area. This is particularly important for older members of the community, or those who are housevbound and those suffering socialleconomic hardship, who gain a sense of community engagement by listening to the service. Drive 105, through dedicated weeY shows. continues to showcase local talent and sport. Throughoul our daily programming we have a variety of discussion shows focusing on local issues, news and views. This is evidenced by our high number of listeners and the number of outside broadcasts thal we carry out. We continue to broadcast live from many communty events throughout the cty including, festivals, sports events at senior and junior level, political events etc. The station has provided an essenlial service to the city and more speafically through our outside broadcasts has given a unique opportunity to communty groups and services to engage, share and dialogue with the local community. The benefits which flow from advancing education and the provision of education and access to education in particular vocational education and training in media skills and work is that we are able to train people in broadcast, technical and joumalistic skills to enable them lo develop pra¢ti¢al experience and skills that will help give them the confidence and capability lo seek employment in these or related fields. The benefits which flow from promoting and advancing other charitable objects a5 may from time to time be detemiined by the members of the company, is that we are not restricted by our objeds but rather have the flexibility to promole other charitable purposes as from time-to-time arise and have arisen, for example, promoling citizenship and community development or advancing the arts. We recognise that any future work must be for one of the e1ve charitable purposes as outlined in the Charities Ad. Volunteers Charitable activities a carried out by volunteers and there are no staff employed by the charity. Since the station was launched in 2009, approximately 600 volunteers have participatèd at various levels in Drive 105, developing Skills in prodtjcing, presenting. researching, recordinglediting. ICT, secretarial skills and fiJndraising. Drive 105's ethos is access to all and we are delighted to say that we have volunteers reprèsenting all aspects of the local community- Achievements and perfomiance Drive 105 has successfully managed to maintain a valuable communty radio service for the last 14 years in Ihe DerrylLondonderry area. Our abilty lo secure a CDSP licence to broadcast on the SSD platfom enabling us to increase our coverage into a wider geographical area and reach new audiences is a reflection of the success of the service. We look forward to the opportunities this enhanced coverage provides. We continued to develop and enhance our coverage of local sport and in particular lasl year we successfully broadrasted every Derry City Football match Live. including their European Fixtures. The interest in volunteering has continued to grow this year, with the recruitment of a variety Df volunteers. To date, we have trained approximately 600 volunteers. They have gained skills in= Ihe technical aspects of setting up and delivering outside broadcasts.. they continLAe lo gain a variety of skills in presenting, producing, recording and editing as well as developing IT skills. Community Radio has proven lo be an excellent format through which our volunteers get the opportunty to engage with and learn about a variety of local issues.
DRIVE 105 FM COMMUNITY RADIO LTD TRUSTEES, REPORT {INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JANUARY2023 As well as securing a CDSP licence, we have been successful in seturing fvnding from a variety of sources after engaging the services of a fundraising agency. Where our income from advertising has not grown to the extent we hoped for, we continue to secure regular income from local businesses for advertising. The adverse economic environment and significant rise in the cost of living has had a negative impact on our abilty to increase our advertising income. The trustees are fully aware of the need to develop other income streams. In 2023 we will continue to access and develop our income stream from trusts and foundations as well as advertising. We have submitted a funding application and if successfijl, we will be in a position to employ a business development manager [BDM]. As part of the BDM role they will focus on increasing our income. We will continue to review our running costs to ensure we are getting the best possible value for money. Financial review Total income for the year was £138,819. of which £117.540 repsents services donated to the charity by volunteers, £6,069 was generated from donations and legacies and £15.210 from charitable aclivrties. Total expenditure by the charity was £145,945, all of which related to direct charitable activities. Of this amount £117,540 represents an equivalent charge for income recognised in respect of ServIS donated to the charity by volunteers. The charity had net assets at the year-end of £8,188, of which £4,615 were held as restricted funds and £3,573 were unrestricted in nature. Reserves policy The Trustees consider it prudent to hold monies in reserve in the event that unforeseen circumstsnces should lead to financial diffi¢ullies which might pul the future of its employment capaaty, users. welkbeing and general charitable work in jeopardy. The Trustees have examined the Charity's requirements for reserves in light of the main risks to the organisation and established a formal policy which stipulates that free reseryes be maintained at a level which ensures that the Charity's core activity could continue during a period of unforeseen drfficulty- Free reserves are defined by the Trusteès as unrestricted income funds freely available for use as the charity so delermines and Ihereby excludes any funds committed, invested in tangible fixed assets held by the chartty and restricted or designated funds. It is the policy of the Trustees, that unrestricled fund5 which have not been designated for a specific use should be maintained at a level equivalent to thrèe months expenditure. The Trustees consider that reserves al this level will ensure that in the event of a significant drop in funding, they will be able to continue the charity's current activities whilst consideration is given to ways in which addilional funds may be raised. Based on 2022123 expenditure (excluding non cash items such as volunteers ServIS in kind and depreciation) of £23,921 the target level of reserves is £5,980. The charity's free reserves as at 31 January 2023 are in defiot in the amount of £1,554. The Trustees conlinue to strive to build a minimum general level of reserves in accordance with the target so that they will be able to continue the current activities of the charity. In the short term, the Trustees have also considered the extent to which existing activities should be curtailed, should circuMstanS arise. The trustees have assessed the major risks to which the charty is exposed, and are satisfied that Systems are in place to mitigate exposure to the major risks. Structure, governance and management Drive 105 FM Communty Radio Ltd is a company limtted by guarantee and apted as charitable by HMRC under reference XT 21267. The company wa5 incorporated on 291h January 2010. The company was established under a Memorandum of Association which established the objects and powers of the company, and is governed by its Articles of Association. The liability of mernbers is limrted in that every member of the tompany undertakes to contribute an amount not exedIng £10 in Ihe event ofthe company being wound up.
DRIVE 105 FM COMMUNITY RADIO LTD TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 JANUARY2023 The trustees, who are also the directors for the purpose of company law. and who served during the year and up to the date of signature of the financial statements were". Richard Moore Linda Evers Cheung Tara Evers Cheung Michael J Kielty Ursula Moore Ashley Young Emmett Dohety (Resigned 19 April 2023) {Appointed 4 May 2023) Recruitment and appointment of the Trustees The Directors of the company are also charity Truslees forlhe purposes of Charity law. Underthe requirements of the Memorandum and Articles of Association unless Otherwise determined by the company in General Meeting the number of Trustees shall not be less than three and is not subject lo any maximum. Trustees are elected to serve only until the next Annual General Meeting, at which they shall then be eligible for re-election. All members of the Board of Trustees give their time voluntarily and reiVed no benefits from the charity. ststement of trustees. responsibilities The Iruslees, who are also the directors of Drive 105 FM Community Radio Ltd for the purpose of company law, are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdorn Accounting Standards {United Kingdom Generally Accepted Accounting Pradice). Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the slate of affairs of the charity and of the incoming resources and application of resources, including thè income and expenditure. of the charitsble company for thai year. In preparing these financial statements, the trustees are required to.. select Sultable accounting policies and then apply them consistently; obseNe the methods and principles in the Charities SORP- make judgements and estimates that are reasonable and prudent- and prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping adequate accounting records that disclose wtlh reasonable accuracy at any timè the financial position of Ihe charity 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 charity and hence for taking reasonable steps for the prevention and delection of fraud and other irregularities. The trustees, repo s approved by the Board of Trustees. Richard Moore Trustee Dated-. 13 June 2023
DRIVE 105 FM COMMUNITY RADIO LTD INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF DRIVE 105 FM COMMUNITY RADIO LTD We report on the accounts of the charity for the year ended 31 January 2023, which are set OLrt on pages 7 to 16. Respective responsibilities of trustees and examiner The trustees, who arè also the directors of Drive 105 FM Community Radio Ltd for the purposes of company law, are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006. Having satisfied ourselves Ihat the charity is not subject to audit under company law. and is e5igible for independent examination, it is our responsibility to= examine the accounts under section 65 ofthe CharitiesAct (li} follow the procedures laid down in the general directions given by the Charity Cornmission for Northern Ireland under section 65(9llbl of the Charities Act lili) state whether particular matters have come to our attention. Basis of independent examinerfs report WÈ have examirsed your charity accounts as required under section 65 of the Charities Ad and my examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 65(9)Ib} of the Charities Act. The examination induded a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also included consideration of any unusual items or disclosures in the ac¢ounts, and seeking explanations from you as charity trustees concerning any such matters. Our role is to stste whether any material matters have come to our attention giving us cause to believe- 1. That accounting records were not kept in accordance with section 386 of the Companies Act 2006 2. That the accounts do not accord with those accounting records 3. That the accounts do not Comply wilh the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of Ihe Charities Slalement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republi¢ of Ireland 4. That there is further information needed for a proper understanding of the accounts to be reached. Independent examTnerfs statement We have completed our examination and have no concems in resped of the matters (11 to (4) listed above and. in connection with following the Directions of the Charity Cofflmission for Northem Ireland, we have found no matters that require drawing to your attention. Moore (NII LLP Chartered Accountants Ireland 21123 Clarendon Street Derry/Londonderry BT48 7EP Dated.. 13 June 2023
DRIVE 105 FM COMMUNITY RADIO LTD STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JANUARY2023 Unrestricted Restricted funds funds 2023 2023 Total Unrestricted funds 2022 Restricted fvnds 2022 Total 2023 2022 Notes Income from: Donations and legacies Charitable aGtivities 119.289 15,210 4.320 123,609 15,210 140,894 9,254 6,525 147,419 9,254 Total Income 134,499 4,320 138.819 150,148 6,525 156,673 enditure on: Charitable activities 142,780 3,165 145,945 139.273 6,265 145,538 Net lexpenditurellincome for the yearl Net movement In funds (8,2811 1.1S5 17,126) 10,875 260 11,135 Fund balances at 1 February 2022 11,854 3,460 15,314 979 3,200 4,179 Fund balances at 31 January 2023 3.573 4,615 8.188 11,854 3,460 15,314 The statement of financial activities includes all gains and losses cOgnised in the year. All income and expenditure dertve from continuing aclivities. The statement of financial activities also complies with the requirements for an income and expenditure account under the CompaniesAct 2006.
DRIVE 105 FM COMMUNITY RADIO LTD BALANCE SHEET ASAT31 JANUARY2023 2023 2022 Notes Fixed assets Tangible assets 4,199 6,126 Current assets Debtors Cash at bank and in hand 5,880 2,466 10,388 8,346 10,388 Creditors: amounts falling due within one year 10 14,357 (1,200) Net current assets 3,989 9,188 Totsl assets less current liabilities 8,188 15,314 Income funds Restricted funds Unrestricted ftjnds 11 4.615 3,573 3,460 11,854 8,188 15,314 The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006. for the year ended 31 January 2023. The directors acknowledge their responsibilities for complying wtlh the requirements of the Companies Act 2008 with respecl to accounting records and the preparalion of financial statements. The members have not required the company to obtsin an audit of its financial stalemenls for the year in question in accordance with section 476. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial sta ents were approved by the Trustees on 13 June 2023 Richard Moore Trustee Ursula Moore Trustee Company registration number N1601965
DRIVE 105 FM COMMUNITY RADIO LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY2023 Accounting policies Charity information Drive 105 FM Community Radio Ltd is a private company limited by guarantee incorporated in Northern Ireland. The regislered 0)T1 is 2 St Joseph's Avenue. Aberts)m Road, Dery-Londonderry, BT48 6TH. 1.1 Accounting convention The financial statements have been prepared in accordance with the charity's goveming document, the Companies Act 2006 and "Accounting and Reporting by Charities.. Stalement of Recommended Practice applicable lo charities preparing their accounts in accordan wrth the Financial Reporting Stsndard applicable in the UK and Republic of Ireland {FRS 102) {effective 1 January 20191" The charity is a Public Benefit Entty as definecl by FRS 102. The charity has takèn advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not lo prepare a Slalement of Cash Flows. The financial statements are prepared in sterling, which is the functional currency of the charty. Monetary amounts in Ihe5e financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 1.2 Going concem The trustees are fully aware of the need to develop other income streams to ensure the long terni sustainability of the charity. We are proactively exploring funding opportunities through grant making bodies and trusts and foundations. We will continue to review our running costs to ensure we are getting the best possible value for money. At the time of approwng ihe financial slatements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charitsble funds Unrestricted funds are available for use at the discretion of the trustees in fijrtherance of their charitable objectives. Restricted funds are subjecl to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. 1.4 Incoming resources Income is recognised when the charity is legally entitled to it after any perfomance conditions have been met, the amounts can be measured reliably, and it is probable that income will be reived. Cash donations are recognised on receipt. Other donations are recognised once the Charity has been nolified of the donation, unless perfomance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Donated services are recognised as income when the charity has control over the service, any conditions associated with the donated service have been met. the receipl of economic benefft from the use by the charity of the service is probable and thal economic benefit can be measured reliably. In accordan with the Charities SORP IFRS 102), general volunteer lime is nol recognised. On receipt, donated serViS are recognised on the basis of the value to the charity which is the amount the charity would have been required to pay to obtain serVIS of equivalenl economic benefit on the open market. This amount is estimated based on hours worked and hourfy rates provided by communications regulator Ofcom. A corresponding amount is then recognised in expenditure in the period of receipt.
DRIVE 105 FM COMMUNITY RADIO LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023 Accounting policies {Continuedl 1.5 Resources expended Expenditure is recognised On there is a legal or constructive obligation lo 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. Irrecoverable VAT is charged as a cost against the activity for which the expenditure is incurred. Expenditure on charitable aclivilies includes the costs of services undertaken to fvrther the purposes of the charity and their associated support costs. 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently rneasud at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over Iheir useful lives on Ihe foSlowing bases= Broadcast equipment Motor vehicies 20°A straight line 250/0 Straight line The gain or loss arising on the disposal of an asset is delemiined as the difference beeen the sale proceeds and the carrying value of the asset, and is recognised in the stalemenl of financial activities. 1.7 Impainnent of fixed assets At each rèporting end date. the charty reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists. the recoverable amount of the asset is estimated in order to detemiine the extent of the impaimient loss lif any). 1.8 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less. and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.9 Financial instruments The charity has elected to apply the provisions of Section 11 '8asic Financial Instruments. and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the tharty's balance sheet when the charity becomes party to the contractual provisions of the inslrumenl. Financial assets and liabililies are offset, W5th the nel amounts presented in the financial slalements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and sèttle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price inclLtding transaction costs and arè subsequenlly carried at amortised cost using the effecttve interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the fulure receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. 10-
DRIVE 105 FM COMMUNITY RADIO LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUAR Y 2023 Accounting policies (Continued) Basic financial liabilities Basic financial liabilities. including credttors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction. where the debt instrument 15 measured al the pre5enl value of the future payments discounted at a markel rate of interesL Financial liabililies dassified as payable within one year are not amort15ed. Debt instruments are subsequently carried al amortised ¢ost. using the effectNe interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabililies if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequentty measured at amortised Cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 1.10 Taxation The company is a charty and is recognised as such by HM Revenue and Customs for taxation purposes under the charity lax reference XT 21267. A5 a resum, there is no liabilty to taxation on any of its income. Critical accounting estimates and judgements In the application of the charity's accounling policies. the truslees are required to make judgemenls, estimates and assumptions about the Carrying amount of assets and liabilities thal are not readily apparent from other sources. The estimates and associated assumptions are based on historical experients and other factors that are considered to be relevanl. Actual results may dnyer from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimate5 are recognised in the period in which the estimate is revised where the revision affects only Ihat period, or in the period of the revision and future periods where the revision affects both Current and future periods.
DRIVE 105 FM COMMUNITY RADIO LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023 Donations and legacies Unrestricted Restricted funds funds Total Unrestricted fijnds Restricted funds Totsl 2023 2023 2023 2022 2022 2022 Donations and gifts Donated goods and services 1.749 4.320 6,069 20.454 6.525 26,979 117,540 117,540 120,440 120,440 119,289 4,320 123,609 140.894 6.525 147,419 Donations and gifts Department for Communities COVID-19 Charities Fund Halifax Foundation The National Lottery Community Fund The Honourable The Irish Society Ofcom Community Radio Grant Fund Other 6.799 6,799 5,200 5,200 10,000 10,000 1.325 1,325 4,320 4.320 1,749 1.749 3,655 3,655 1.749 4,320 6,069 20,454 6,525 26,979 Donated goods and services Broadcasting and other services associated with operating a radio slation are carried oul solely by volunteers. Services provided include producing, presenting. researching, recording and editing. ICT. fundraising and adminislation. The value of these services to the charty is estimated at £117.540. The estimated value of these services is recognised within incoming resources as a donation. and an equivalent charge included within charitable expenditure. Charitsble activities Provision of Provision of community community media Media 2023 2022 Advertising income 15,210 9,254 12-
DRIVE 105 FM COMMUNITY RADIO LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023 Charitable activities Provision of Provision of community community media media 2023 2022 Depreciation and impaiment Volunteers SeNices in kind Broadcasting costs Consultancy costs Premises costs Office administration costs Commission Equipment and mainlenance costs General expenses Motor running costs 1.927 117,540 5,548 2,100 8,440 4,938 2,944 480 695 1,333 2,429 117,540 5,054 1,800 6,855 4,344 2,688 2,094 550 2,184 145,945 145,538 Analysis by fund Unrestricted funds Restricted funds 142,780 3,165 139,273 6,265 145,945 145,538 Trustses None of the trustees (or any persons conneded with them) received any remuneration or benefits from the charity during the year. Employees Charitable aclivitses are carried out by volunteers and there are no staff employed by the charity. 2023 Number 2022 Number Total There were no employees whose annual remuneration was more than £60,000. 13-
DRIVE 105 FM COMMUNITY RADIO LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023 Tangible fixed assets 8roadcastlJJotor vohicles èquipment Total Cost At 1 February 2022 46,358 2.900 49,258 Al 31 January 2023 46,358 2,900 49,258 Depreciation and impainnent At 1 February 2022 Depreciation charged in the year 42.407 1.202 725 725 43,132 1,927 At 31 January 2023 43,609 1,450 45,059 Carying amount Al 31 January 2023 2,749 1,450 4,199 At 31 January 2022 3,951 2,175 6,126 Debtors 2023 2022 Amounts falling due within one year: Advertising debtors 5,880 10 Creditors: amounts falling due within one year 2023 2022 Accruals 4.3S7 1,200 14-
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DRIVE 105 FM COMMUNITY RADIO LTD NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2023 12 Analysis of net assets between funds Unrestrlcted Restricted funds funds Totsl Unrestricted Restricted funds funds Totsl 2023 2023 2023 2022 2022 2022 Fund balances at 31 January 2023 are represented by-. Tangible assets Current assetsllliabilities) 1.804 1.769 2,395 2,220 4,199 3.989 2,666 9,188 3,460 6,126 9,188 3,573 4,615 8,188 11,854 3.460 15,314 13 Related paty transactions There were no disclosable related party transactions during the year (2022 - none). 16-