COLNE RADIO COMMUNITY INTEREST COMPANY

Company limited by guarantee

Company Registration Number:
07877272 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2023

Period of accounts

Start date: 1 January 2023

End date: 31 December 2023

COLNE RADIO COMMUNITY INTEREST COMPANY

Contents of the Financial Statements

for the Period Ended 31 December 2023

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

COLNE RADIO COMMUNITY INTEREST COMPANY

Directors' report period ended 31 December 2023

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

Principal activities of the company

Colne Radio continues to support the local community and provide a platform for local organisations to promote their events both on radio and through our website.



Directors

The directors shown below have held office during the whole of the period from
1 January 2023 to 31 December 2023

Peter Hill
C Liddy
D Purdey
A Goggin
J Fairweather
R Appleyard


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 April 2024

And signed on behalf of the board by:
Name: Peter Hill
Status: Director

COLNE RADIO COMMUNITY INTEREST COMPANY

Profit And Loss Account

for the Period Ended 31 December 2023

2023 2022


£

£
Turnover: 2,604 55,627
Cost of sales: 0 ( 45,665 )
Gross profit(or loss): 2,604 9,962
Administrative expenses: ( 7,100 ) ( 6,765 )
Operating profit(or loss): (4,496) 3,197
Profit(or loss) before tax: (4,496) 3,197
Profit(or loss) for the financial year: (4,496) 3,197

COLNE RADIO COMMUNITY INTEREST COMPANY

Balance sheet

As at 31 December 2023

Notes 2023 2022


£

£
Fixed assets
Tangible assets: 3 1,290 1,433
Total fixed assets: 1,290 1,433
Current assets
Debtors: 4 80 11,381
Cash at bank and in hand: 5,497 10,149
Total current assets: 5,577 21,530
Creditors: amounts falling due within one year: 5 ( 2,082 ) ( 13,683 )
Net current assets (liabilities): 3,495 7,847
Total assets less current liabilities: 4,785 9,280
Total net assets (liabilities): 4,785 9,280
Members' funds
Profit and loss account: 4,785 9,280
Total members' funds: 4,785 9,280

The notes form part of these financial statements

COLNE RADIO COMMUNITY INTEREST COMPANY

Balance sheet statements

For the year ending 31 December 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 April 2024
and signed on behalf of the board by:

Name: Peter Hill
Status: Director

The notes form part of these financial statements

COLNE RADIO COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 December 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

COLNE RADIO COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 0 0

COLNE RADIO COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 January 2023 1,000 130 303 1,433
Additions
Disposals
Revaluations
Transfers
At 31 December 2023 1,000 130 303 1,433
Depreciation
At 1 January 2023 0 0 0 0
Charge for year 100 13 30 143
On disposals
Other adjustments
At 31 December 2023 100 13 30 143
Net book value
At 31 December 2023 900 117 273 1,290
At 31 December 2022 1,000 130 303 1,433

COLNE RADIO COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Debtors

2023 2022
£ £
Trade debtors 80 11,381
Total 80 11,381

COLNE RADIO COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 December 2023

5. Creditors: amounts falling due within one year note

2023 2022
£ £
Trade creditors 2,082 13,683
Total 2,082 13,683

COMMUNITY INTEREST ANNUAL REPORT

COLNE RADIO COMMUNITY INTEREST COMPANY

Company Number: 07877272 (England and Wales)

Year Ending: 31 December 2023

Company activities and impact

Since April 2017, when we obtained our FM licence, we have maintained a team of around 25 broadcasters and other people who deliver a 24/7 radio broadcasting service as well as continuing to broadcast on the internet. We continue to serve our local communities by promoting local events on both the radio as well as on our website. Our news bulletins that are broadcast every hour continue to feature some local news as well as national and international news. Colne Radio continues to be a community radio station as well as providing an opportunity for people to get involved in the many aspects of running a community radio station. We are grateful to our small but extremely good band of local advertisers who help to keep us going as well as to our dedicated team of volunteer presenters on whom we rely to deliver a service to the local community each day. In 2021 we started work on a project to deliver radio journalism training to benefit people who would benefit from skills training in this specialist area. Delivery of this Project, called Seeds4Growth, was successfully delivered during 2022. It delivered training in radio journalism and creation of things as podcasts to 12 people in the Tendring area with a potential to give them a career in this sector. Some of them have since become involved with Colne Radio as presenters. The Seeds4Growth Project was funded by a grant of £52,662 from Essex County Council's Community Renewal Fund, and used the services of our radio station and volunteers as well as paid consultants from external sources known to Colne Radio. The income received by Colne Radio in 2022 meant we started 2023 with a good reserve to sustain us through this financial year.This year, Colne Radio also formed part of a bid to OFCOM for a small-scale DAB multiplex, Essex DAB Ltd and the results of this are still awaited. In 2023 the board was strengthened by the recruitment to it of Wendy Bixby and Matthew Young. We worked with Wendy in creating and promoting the radio journalism training course and she brings some valuable skills to the board. Likewise, Matthew also brings some skills in the administration of organisations as well as some radio presenting skills as one of our radio presenters. Late in 2023 we began working on a similar grant assisted training programme that will complement our community radio station.

Consultation with stakeholders

All of our presenters are required to undergo some training and to agree to conform to a code of practice to ensure we maintain high ethical standards in our broadcasting. This has been maintained in 2023. We promote these standards when we talk to other people and stakeholders about our radio station and what we want to promote. We maintain active links with our local communities and welcome all opportunities for local dialogue with people in our broadcast area. We continue to use means as articles in a local newsletter, and personal contacts of the directors who are reasonably well known in their local communities, to keep our local communities aware of our radio station and what it can do for them.

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 April 2024

And signed on behalf of the board by:
Name: Peter Hill
Status: Director