TONE COMMUNITY MEDIA GROUP CIC

Company limited by guarantee

Company Registration Number:
13737604 (England and Wales)

Unaudited statutory accounts for the year ended 29 November 2022

Period of accounts

Start date: 11 November 2021

End date: 29 November 2022

TONE COMMUNITY MEDIA GROUP CIC

Contents of the Financial Statements

for the Period Ended 29 November 2022

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

TONE COMMUNITY MEDIA GROUP CIC

Directors' report period ended 29 November 2022

The directors present their report with the financial statements of the company for the period ended 29 November 2022

Directors

The directors shown below have held office during the period of
19 July 2022 to 29 November 2022

P A Jenkins
S J Wright
D L Phelps


The director shown below has held office during the whole of the period from
11 November 2021 to 29 November 2022

P T J J Jobson


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
10 February 2024

And signed on behalf of the board by:
Name: P T J J Jobson
Status: Director

TONE COMMUNITY MEDIA GROUP CIC

Profit And Loss Account

for the Period Ended 29 November 2022

13 months to 29 November 2022


£
Turnover: 24,324
Cost of sales: ( 15,503 )
Gross profit(or loss): 8,821
Distribution costs: 0
Administrative expenses: ( 18,020 )
Other operating income: 2,347
Operating profit(or loss): (6,852)
Interest receivable and similar income: 0
Interest payable and similar charges: 0
Profit(or loss) before tax: (6,852)
Tax: 0
Profit(or loss) for the financial year: (6,852)

TONE COMMUNITY MEDIA GROUP CIC

Balance sheet

As at 29 November 2022

Notes 13 months to 29 November 2022


£
Fixed assets
Intangible assets:   0
Tangible assets: 3 1,601
Investments:   0
Total fixed assets: 1,601
Current assets
Stocks:   0
Debtors: 4 3,256
Cash at bank and in hand: 0
Investments:   0
Total current assets: 3,256
Creditors: amounts falling due within one year: 5 ( 11,709 )
Net current assets (liabilities): (8,453)
Total assets less current liabilities: (6,852)
Total net assets (liabilities): (6,852)
Members' funds
Profit and loss account: (6,852)
Total members' funds: ( 6,852)

The notes form part of these financial statements

TONE COMMUNITY MEDIA GROUP CIC

Balance sheet statements

For the year ending 29 November 2022 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 10 February 2024
and signed on behalf of the board by:

Name: P T J J Jobson
Status: Director

The notes form part of these financial statements

TONE COMMUNITY MEDIA GROUP CIC

Notes to the Financial Statements

for the Period Ended 29 November 2022

  • 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 fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net ofsales/value added tax, returns, rebates and discounts.The company recognises revenue when:The amount of revenue can be reliably measured;it is probable that future economic benefits will flow to the entity;and specific criteria have been met for each of the company's activities.

    Tangible fixed assets depreciation policy

    Tangible assets are stated in the Balance Sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.Depreciation is charged so as to write off the cost of assets, other than land and properties underconstruction over their estimated useful lives, as follows:Asset class Depreciation method and rateOffice Equipment 40% Straight LineAudio Equipment 2.5% Straight Line

    Other accounting policies

    Going concernThe financial statements have been prepared on a going concern basis. In the first year of trading the Tone Community Media Group CIC absorbed ToneFM with no reserves in a poor state of operation. Alongside this a substantial investment was required to revive it. Following the first year, revenue has increased, along with additional grant funding to secure the future.Other grantsGrants are accounted for under the accruals model.TaxDeferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.Cash and cash equivalentsCash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.DebtorsTrade debtors are amounts due from customers for merchandise sold or services performed in theordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.CreditorsTrade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defersettlement for at least twelve months after the reporting date, they are presented as non-current liabilities.Trade creditors are recognised initially at the transaction price and subsequently measured atamortised cost using the effective interest method.

TONE COMMUNITY MEDIA GROUP CIC

Notes to the Financial Statements

for the Period Ended 29 November 2022

  • 2. Employees

    13 months to 29 November 2022
    Average number of employees during the period 4

TONE COMMUNITY MEDIA GROUP CIC

Notes to the Financial Statements

for the Period Ended 29 November 2022

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
Additions 876 880 1,756
Disposals
Revaluations
Transfers
At 29 November 2022 876 880 1,756
Depreciation
Charge for year 11 144 155
On disposals
Other adjustments
At 29 November 2022 11 144 155
Net book value
At 29 November 2022 865 736 1,601

TONE COMMUNITY MEDIA GROUP CIC

Notes to the Financial Statements

for the Period Ended 29 November 2022

4. Debtors

13 months to 29 November 2022
£
Trade debtors 2,306
Prepayments and accrued income 950
Total 3,256

TONE COMMUNITY MEDIA GROUP CIC

Notes to the Financial Statements

for the Period Ended 29 November 2022

5. Creditors: amounts falling due within one year note

13 months to 29 November 2022
£
Bank loans and overdrafts 2
Trade creditors 5,061
Accruals and deferred income 3,000
Other creditors 3,646
Total 11,709

TONE COMMUNITY MEDIA GROUP CIC

Notes to the Financial Statements

for the Period Ended 29 November 2022

6. Loans to directors

Related party transactionsDirectors' expenses reimbursedThe directors' had expenses reimbursed for the period as follows:Expenses reimbursed £4,932During the period the director Mr P T J J Jobson incurred costs on behalf of the company of £4,932 which have been reimbursed in full to him by the end of the financial period.Loans from related parties2022£Advanced 1,375Repaid (5,021) At end of period (3,646)

COMMUNITY INTEREST ANNUAL REPORT

TONE COMMUNITY MEDIA GROUP CIC

Company Number: 13737604 (England and Wales)

Year Ending: 29 November 2022

Company activities and impact

The Tone Community Group is a voluntary run CIC which provides the management and day to day running of Taunton’s Community Radio Station ToneFM. The station broadcasts 24 hours a day, seven days a week all year. The Stations provides a mixed output, hosted and created by volunteers which covers news, information and entertainment. Listeners are thenable to listen online, on a dedicated app, on smart speakers and on 107.8fm.Alongside the custodianship of ToneFM The Tone Community Media Group also supports local events manage their staging requirements, and we also offer extensive training for people in Broadcasting and Content Creation. This is achieved through the delivery of Bronze Arts Awards.

Consultation with stakeholders

As an organisation we constantly work in partnership with Somerset’s Community Religious Organisation, Schools, Council alongside the other providers of Community as well. This also includes working with local large scale events as well.

Directors' remuneration

As disclosed in note 7 to the accounts expenses of £4,932 were reimbursed to a director. There are no other transactions or arrangements in connection with the remuneration of directors, or compensation for director's loss of office which require to be disclosed.

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
10 February 2024

And signed on behalf of the board by:
Name: P T J J Jobson
Status: Director