FMB RADIO CIC

Company limited by guarantee

Company Registration Number:
11954619 (England and Wales)

Unaudited statutory accounts for the year ended 31 March 2023

Period of accounts

Start date: 1 April 2022

End date: 31 March 2023

FMB RADIO CIC

Contents of the Financial Statements

for the Period Ended 31 March 2023

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

FMB RADIO CIC

Directors' report period ended 31 March 2023

The directors present their report with the financial statements of the company for the period ended 31 March 2023

Principal activities of the company

Principal activity of the company during the financial year was of Radio broadcasting



Directors

The directors shown below have held office during the whole of the period from
1 April 2022 to 31 March 2023

Anna Nagy
Frank Kamau
Jesse Kimani


The director shown below has held office during the period of
11 October 2022 to 31 March 2023

Pa Faal Modou


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
17 November 2023

And signed on behalf of the board by:
Name: Jesse Kimani
Status: Director

FMB RADIO CIC

Profit And Loss Account

for the Period Ended 31 March 2023

2023 2022


£

£
Turnover: 72,384 87,123
Cost of sales: ( 24,140 ) ( 31,358 )
Gross profit(or loss): 48,244 55,765
Administrative expenses: ( 45,487 ) ( 46,454 )
Other operating income: 0
Operating profit(or loss): 2,757 9,311
Interest payable and similar charges: ( 969 ) 0
Profit(or loss) before tax: 1,788 9,311
Profit(or loss) for the financial year: 1,788 9,311

FMB RADIO CIC

Balance sheet

As at 31 March 2023

Notes 2023 2022


£

£
Fixed assets
Tangible assets: 3 2,510 3,347
Total fixed assets: 2,510 3,347
Current assets
Debtors: 4 42,146 1,042
Cash at bank and in hand: 3,461 70,370
Total current assets: 45,607 71,412
Creditors: amounts falling due within one year: 5 ( 3,689 ) ( 24,187 )
Net current assets (liabilities): 41,918 47,225
Total assets less current liabilities: 44,428 50,572
Creditors: amounts falling due after more than one year: 6 ( 42,095 ) ( 50,000 )
Total net assets (liabilities): 2,333 572
Members' funds
Profit and loss account: 2,333 572
Total members' funds: 2,333 572

The notes form part of these financial statements

FMB RADIO CIC

Balance sheet statements

For the year ending 31 March 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 17 November 2023
and signed on behalf of the board by:

Name: Jesse Kimani
Status: Director

The notes form part of these financial statements

FMB RADIO CIC

Notes to the Financial Statements

for the Period Ended 31 March 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

    Tangible fixed assets depreciation policy

    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 basisComputer Equipment 25% Reducing Balance

    Other accounting policies

    Government grantsGovernment grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.

FMB RADIO CIC

Notes to the Financial Statements

for the Period Ended 31 March 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 2 5

FMB RADIO CIC

Notes to the Financial Statements

for the Period Ended 31 March 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 April 2022 3,780 3,780
Additions
Disposals
Revaluations
Transfers
At 31 March 2023 3,780 3,780
Depreciation
At 1 April 2022 433 433
Charge for year 837 837
On disposals
Other adjustments
At 31 March 2023 1,270 1,270
Net book value
At 31 March 2023 2,510 2,510
At 31 March 2022 3,347 3,347

FMB RADIO CIC

Notes to the Financial Statements

for the Period Ended 31 March 2023

4. Debtors

2023 2022
£ £
Trade debtors 921 921
Prepayments and accrued income 18,565 0
Other debtors 22,660 121
Total 42,146 1,042
Debtors due after more than one year: 0 0

FMB RADIO CIC

Notes to the Financial Statements

for the Period Ended 31 March 2023

5. Creditors: amounts falling due within one year note

2023 2022
£ £
Bank loans and overdrafts 0 0
Taxation and social security 1,279 856
Accruals and deferred income 1,095 900
Other creditors 1,315 22,431
Total 3,689 24,187

FMB RADIO CIC

Notes to the Financial Statements

for the Period Ended 31 March 2023

6. Creditors: amounts falling due after more than one year note

2023 2022
£ £
Bank loans and overdrafts 42,095 50,000
Total 42,095 50,000

COMMUNITY INTEREST ANNUAL REPORT

FMB RADIO CIC

Company Number: 11954619 (England and Wales)

Year Ending: 31 March 2023

Company activities and impact

FMB CIC (trading as FMB Radio or FMB) is a social enterprise, registered as company limited by guarantee without share capital, a Community Interest Company (CIC), incorporated in England and Wales on 18 April 2019. The core purpose is digital media recording, publishing, reproduction, and dissemination mainly in the form of community conversations, online radio broadcasting, podcasts and virtual audio and video contents. We exist to address the gaps in digital media and authentic voices for the underrepresented communities. We complement existing local and regional media services. Our mission is to build on Nottingham’s history of culture, creativity, innovation and a UNESCO City of Literature in establishing a sustainable safe space for minority communities to air their views, voices and ideas through audio, video and digital contents thereby amplifying their authentic voices and challenging existing policies and perspectives in a constructive manner.We offered individuals and organisations an opportunity to share their stories, experiences, and views through FMB online radio. We worked with local communities, especially those from New and Emerging communities in creating programmes, with a unique and powerful mix of reporting, personal and organisational stories, experiences, views, and perceptions. This was in form of audio products on the radio (live and recorded), stories, question and answers, and interviews which captured and broadcasted authentic voices. We offered an extensive variety of music, especially when no programs were being broadcasted or through music programmes and discussion broadcasts.The Radio and website showcased talent and shared authentic voices thereby creating a sense of social identity and pride among our target communities. It also acted as a two-way conduit for the exchange of information and ideas among the targeted communities. Our work was focused on dynamic and productive partnerships and collaborative working with local groups, thereby enabling them to meet their social objectives.Working jointly with other partners, we offered some accredited and unaccredited course such as radio broadcasting, radio presentation, community journalism, confidence building, solution journalism, podcasting, community conversation leadership, and digital storytelling, among others. These courses were aimed at enabling learners to engage better with FMB products and services while also gaining skills, qualifications, and confidence to become active members of their communities. We also provided opportunities for hands on experience through volunteering for FMB and signposting the learners to employment and further training opportunities.

Consultation with stakeholders

FMB Radio’s stakeholders are all members of the local community i.e. those who live, work, are being educated or trained in the Nottingham area, or who share their interests. Our ethos has always been to invite the participation and involvement of everyone locally. We work almost entirely on a consensus basis while encouraging people to take responsibility and initiate their own ideas.This approach to community engagement is underpinned by our formal structures andworking approach. We also held two more informal community meetings which were a chance for ideas to be shared.

Directors' remuneration

No remuneration was received

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
17 November 2023

And signed on behalf of the board by:
Name: Jesse Kimani
Status: Director