SESCOT RADIO (A Scottish Charllable Incorporated Organ15allon) Annual Report and Flnancial Statements For the year ended 30 April 2021 Registered Charity- SC049260 olo SESCOT RADIO Annual Report and Flnandal Ststements For the year ended 30 April 2021 Contents Page Trustees, Report Independent Examinerfs Report Receipts and Payments Account ststement of Balances Notes to the Accounts SESCOT RADIO Trustee< Annual Report For the year ended 30 Aprfl 2021 The trustees have pleasure in presenting their report together with the financial statements for the year ended 30 April 2021. Reference and Admlnlstrallve Inform*ion CharFty name Sescot Radio Charlty Nmber SC049260 Reglstered address Trustees Trustees who served durfng the year". Strurture, Governance and Management Constlttstlon The Charity is a Scottish Charitsble Incorporated Organslation {a SCIO), registered on 29 April 2019. The structure of the organisation tonsists of the Board made up of the Trustees of the organisation and Members who appoint those trustees. Membership Mernbership of the charty is open to anyone in agreement wlth the objects of the charity and in line with the constitution. Recruitment ond appointment of Trustees The Trustees are responsible for the management of the charity and the safeguarding of its assets. Trustees are elected in line with the constitution at the annual general meeting and receive an induction and training in their role. Due to the continuing re5trittions imposed by the COVID pandemic, no meeting5 have been held In person during the year, however the trustees use digital means to ensure effertlve management of the charity. SESCOT RADIO Trustee< Annual Report Forthe year ended 30 Aprfl 2021 Icontlnued) Oblecllves and Attlvltles Choritoble purposes To advance citizenship of community development by {1) encouraging the involvement and promotion of communty organi&itions and events through the use of the online community radio station and lil) encouraging volunteerin8 at all levels of the organlsation by all interested members of our community. To advance education by offering training and the opportunty to leam about all the roles involved in the runnlng of the communlty onllne radlo station and broadcastin& Artivities The principal activity of the charity is to provide a locally focussed online communlty radio ststion attracting members and advertisers providing a service to the local community and wider area. Achlevements and Performan Progress during the past year on the broadcasting front has been painfully Slow. The severe restrictions forced upon us by the Covid pandemic has prevented any training of new personnel because of the 'close up arbd personal, working environment that is the studlo, so we have continued to rely on material submitted to us by contrlbutors. However, we have seen a small but effective increase in our live output thanks mainly to the input of a couple of new and our existing crew members, the former not needing any formal training because of previous broadcasting experience elsewhere. There has b￿n some progress on the new premises front with us being successful In our application for grants to be used to fund the conversion of the Portacabin into a fully nctioning studio. However, the Covid situation has also seriously affected the start of the external works as our new landlords are wanting to connect the 'services' to the unlt before we can occupy them. Fundlng this and Identlfylng a suitable contractor to carry out this work in view of the current environment is seemingly proving to be problematic for thern. At time of writing, a contractor has now been found. Hopefully, this work will be completed soon and we will be able to gain access ourselves so that our work can commence on the internal alterations. We continue to Struggle to attract adverti5er5, again because of the Covid situation, Many of the businesses that indicated a willingness to come on board when we started to broadcast have gone OLrt of business and those that remain are understandably reluctant to advertise at all given the C￿￿ent Situation. Our Outside Broadcasts and P.A. work has a150 Stopped as there have been no events held at all in the region that warranted our attendance. However, we continue to be very optimistic for the future. Spirits remain high despite the many obstacles thrown at us. My sincere thanks to my fellow Trustees and the loyalty of the Crew on both sides of the mic. for thelr continued hard work and input. SESCOT RADIO Trustee< Annual Report For the year ended 30 Aprll 2021 (contlnued) Flnandal revlew Totsl recelpts for the year were £23.18412020: £4,396). Payments in the year amounted to £9,1X)712020: £3,918). Thls resulted in net recelpts for the period of £14,177 (2020: £4781. Funds as at 30 April 2021 were £14,655, of which £5,600 is restrlcted and £9,055 is unrestrltted. All funds are represented by deposlts held In the SCIIYS bank account. Trustee remuneratlon and expenses The trustees dld not receive any remuneration or Èxpenses during the perlod under revlew. Reserve5 In this early period of operation, the trustees have sought funding to establish the studio and meet the monthly running costs. They anticipate holding reserves equal to 3 months ongolng expenditure will be required going forward. At the 30 April 2021, the reserves were at a levd to sustain the charity and allow it to develop further. The trustees will continue to seek funding and monitor the running costs and reserves balance as the SCIO becomes more established. Major rlsks fradn8 the charlty The charity is dependent on membership substrlptions, advertislng revenue and grants. Without these Income streams the charity will find it difficult to continue. However, the station can scale back Its operations in line with income available rf necessary. COVID-19 is a risk to the charfty in so far as It Is hlndering the ability to attract and train volunteers at this time. Conversely, the onllne radio station Itself is a great comfort to those in soclal i501ation. The Trustees consider volunteer recruitmenL and training in broadcasting will improve as the current resrictions are lifted. Plan5 for firture perlod The station continue5 to bulld in these early years of operation, attracting volunteers, members and advertisers and training broadcasters. It aim5 to increase the portion of live broadcasts as more presenters come on board. The charlty is planning further promotional work to raise the proftle of the station in the local area and further afield and looks for local community events to support and attend a5 and when restrictlons allow. The main focus of 21122 Isthe move to the new studio. Approved by e Trustees and slgned on thelr behalf 13 January 2022 SESCOT RADIO Independent Examlnerfs Report to the Trustees of Sescot Radio I report on the accounts of the charity for the year ended 30 Aprll 2021, whlch a￿ set out on pages 5 and 6 and the related notes on pa8e5 7 to 9. Respertlve responslbilltles of trusrees and examiner The charitys Trustees are responslble for the preparation of the accounts in accordan￿ with the terms of the Charities and Trustee Investment {Scotlandl Act 2005 and the Charities Accounts (Scotlandl Regulations 2(￿61aS amended) 1.the 2006 Regulatlons"). The chartty Trustees conslder that the audit quirement of Regulation 1011) Idl of the R￿ulatIonS does not apply. It is my responsiblllty to examine the accounts as required under section 4411) Ic) of the Att and to state whether particular matters have come to my attentlon. Basts of Independent examinerfs statement My examination is carried out In accordance wlth Regulation 11 of the 2￿6 Regulations. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disdosures in the accounts. and seeks explanations from the Tru51ees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required In an audlt, and consequently I do not express an audit opinion on the view given by the account& Independent examlnerfs statement In the course of my examination, ￿ matter has come to my attention: whlch Elves me reasonable cause to believe that in any material ￿SPert the requirements.. to keep accounting records in accordance wtth Section 44(1) (a) of the 21X)5 Art and Regulation 4 of the 21J)6 Regulations to prepare accounts which accord with the accounting records and comply with Regulation 9 of the 2LKJ6 Accounts Regulations have not been met, or to which. in my opinion. attention should be drawn in order to enable a proper under5tsnding of the accounts to be reached. 13 January 2022 SESCOT RADIO Receipts and Paymertts Account For the year ended 30 Aprll 2021 Unrestrkted Restrfrted 21ni 2021 Total 2021 Total 2020 Notes Recelpts Voluntary incorne Activities for generatSng funds Receipts from charitsble attivities 10,715 74 L740 10,655 21,370 74 1.740 3,466 510 420 12,529 10,655 23,184 4,396 Payments Charitable activitles Purchases of studio equipment Governance costs 3,652 3,652 5,055 300 2.273 1,645 5,055 300 Total payments 3,952 5,055 3,918 Net retelptsi(payments) before transfers 8,577 5,600 14,177 478 Transfers Net receiptslqpayments) for year 8,577 5,600 14,177 478 The notes on pages 7 to 9 form part of these accounts SESCOT RADIO Statement of Balances As at 30April 2021 Unrestrlcted Restrirted 2021 2021 Total 2021 Total 2020 Openingfunds (DÈficit)/Surplus for the year 478 8,577 478 14ITI 5,6()0 478 Closing funds 9.055 14,655 478 Bank and cash balan Current account 9.055 14655 478 Cr￿lt0￿8 (for inforniallon) Independent examinerfs fee 300 300 Approved by the Trustees on 13 January 2021 and signed on their behalf by: The notes on pages 7 to 9 form part of these accounts SESCOT RADIO Notes to Ihe Accounts For the perlod ended 30 Aprfl 2021 Accountin8 polldes Ba￿$ of occountinq The attounts have been prepared on the Receipts and Payments basis in accordance with the Charfties & Trustee Investment {Scotiand> Act 2005 and the Charities Accounts (5cotlandl Regulations 2006 las amended}, VAT The SCIO Is not registered for VAT and, accordingly, expenditure includes VAT where approprlate. Resources expended Charitable expenditure comprises those costs incurred by the charty in the dellvery of Its activlties and services for its beneficiaries. Governance costs include th(￿e costs assoclated with meetlng the constltutlonal and statutory requtrements of the charity and include the Independent Examinerfs fee. Nature and purpose offvnds Unrestricted funds are those that may be used at the discretion of the trustees in furtherance of the objects of the charity. Restricted funds may only be used for specifit purposes. Restrictions arise when specified by the donor or when funds are raised for specific purposes. Durlng the year the charity received no funds w¢th specific restrictlons other than for the development of the station In Ilne wlth Its charltable purpose& Related Party Transactlons No remuneration was paid to the trustees or any connected persons during the year. SESCOT RADIO Notes to the Attounts For the year ended 30 Aprfl 2021 Icontlnued) Volunw Income Unrestrlcted Restrlrted 2021 2021 Total 2021 Total 2020 Grants East Lothlan Councll Adapt & Thrive scvo Donatlons Cockburnspath & Cove Community Council Foundatlon Scotland Dunbar Community Council East Lammemulr Community Councll Tarmac Other individual donatDns under £5(K) 10.000 io.(xx) 5.655 5,655 5,000 I,O(KJ 600 51KI 5(MJ 51X) 366 715 715 10,715 10,655 2L370 3,466 Activlties for generating funds Asda 8ag Pad( Crowdfunder Coffee mornir Quiz 2( 149 90 65 74 74 74 74 510 Income from Charitable Aclivities Membershlp fees Advertising fees 1,560 420 1,740 1.740 420 SESCOT RADIO Not•s to th• Accounts For the year ended 30 Aprll 2021 (contlnued) Costs of tharitable actlvities Unrestricted Restrlrted 2021 2021 Total 2021 Total zozo Rent rr & website costs Licences Insurance Promotion & ￿ents of￿ costs 1,430 928 410 245 IA30 928 410 245 910 397 128 187 162 231 231 3,652 3,652 2,273 Governan￿ The cost of the 2021 independent examlnatlon Is £3￿12020. £3001 and included In the Ststement of Creditors. Funds Balano at Imav 2020 Balan￿ at 30 April 2021 Recelpts Payments Transfers Unrestricted Fund Restricted Fund 478 12,529 10,655 {3.952) {5,055) 9,055 Total Funds 478 23,184 (9.(K)7) 14,655 The Restrlcted Fund relates to funding received for Studio Equipment. It is expected the balance of this fundin8 will be spent in 2022 in equippin8 the studio faciltty. There were no transfers of funds duringthe year.