TYNESIDE COMMUNITY DIGITAL COMMUNITY INTEREST COMPANY

Company limited by guarantee

Company Registration Number:
12458729 (England and Wales)

Unaudited statutory accounts for the year ended 31 March 2024

Period of accounts

Start date: 1 March 2023

End date: 31 March 2024

TYNESIDE COMMUNITY DIGITAL COMMUNITY INTEREST COMPANY

Contents of the Financial Statements

for the Period Ended 31 March 2024

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

TYNESIDE COMMUNITY DIGITAL COMMUNITY INTEREST COMPANY

Directors' report period ended 31 March 2024

The directors present their report with the financial statements of the company for the period ended 31 March 2024

Principal activities of the company

The principal activities of the company are to support Ofcom licenced Digital Community radio stations in the Newcastle and Gateshead area to meet their commitments to deliver social gain to their respective communities. This is achieved by providing a small scale DAB service that allows the stations to broadcast to listeners in the licenced area.



Directors

The directors shown below have held office during the whole of the period from
1 March 2023 to 31 March 2024

Richard Finch
Sandeep Kapoor
Jonathan Morrell


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
20 November 2024

And signed on behalf of the board by:
Name: Richard Finch
Status: Director

TYNESIDE COMMUNITY DIGITAL COMMUNITY INTEREST COMPANY

Profit And Loss Account

for the Period Ended 31 March 2024

13 months to 31 March 2024 2023


£

£
Turnover: 30,452 33,027
Cost of sales: ( 826 ) ( 2,344 )
Gross profit(or loss): 29,626 30,683
Administrative expenses: ( 30,200 ) ( 18,993 )
Other operating income: 250
Operating profit(or loss): (574) 11,940
Interest payable and similar charges: ( 895 ) ( 5,940 )
Profit(or loss) before tax: (1,469) 6,000
Profit(or loss) for the financial year: (1,469) 6,000

TYNESIDE COMMUNITY DIGITAL COMMUNITY INTEREST COMPANY

Balance sheet

As at 31 March 2024

Notes 13 months to 31 March 2024 2023


£

£
Fixed assets
Tangible assets: 3 25,901 34,506
Total fixed assets: 25,901 34,506
Current assets
Cash at bank and in hand: 6,176 9,545
Total current assets: 6,176 9,545
Creditors: amounts falling due within one year: 4 ( 17,772 ) ( 21,849 )
Net current assets (liabilities): (11,596) (12,304)
Total assets less current liabilities: 14,305 22,202
Creditors: amounts falling due after more than one year: 5 ( 12,857 ) ( 19,285 )
Total net assets (liabilities): 1,448 2,917
Members' funds
Profit and loss account: 1,448 2,917
Total members' funds: 1,448 2,917

The notes form part of these financial statements

TYNESIDE COMMUNITY DIGITAL COMMUNITY INTEREST COMPANY

Balance sheet statements

For the year ending 31 March 2024 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 20 November 2024
and signed on behalf of the board by:

Name: Richard Finch
Status: Director

The notes form part of these financial statements

TYNESIDE COMMUNITY DIGITAL COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: Transmission equipment over 5 years Computer equipment 15% Reducing balance

TYNESIDE COMMUNITY DIGITAL COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 2. Employees

    13 months to 31 March 2024 2023
    Average number of employees during the period 2 2

TYNESIDE COMMUNITY DIGITAL COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 March 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 March 2023 39,978 39,978
Additions
Disposals
Revaluations
Transfers
At 31 March 2024 39,978 39,978
Depreciation
At 1 March 2023 5,472 5,472
Charge for year 8,605 8,605
On disposals
Other adjustments
At 31 March 2024 14,077 14,077
Net book value
At 31 March 2024 25,901 25,901
At 28 February 2023 34,506 34,506

TYNESIDE COMMUNITY DIGITAL COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 March 2024

4. Creditors: amounts falling due within one year note

13 months to 31 March 2024 2023
£ £
Other creditors 17,772 21,849
Total 17,772 21,849

TYNESIDE COMMUNITY DIGITAL COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 March 2024

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

13 months to 31 March 2024 2023
£ £
Other creditors 12,857 19,285
Total 12,857 19,285

COMMUNITY INTEREST ANNUAL REPORT

TYNESIDE COMMUNITY DIGITAL COMMUNITY INTEREST COMPANY

Company Number: 12458729 (England and Wales)

Year Ending: 31 March 2024

Company activities and impact

The company exists to support not for profit community radio in Newcastle and Gateshead principally through providing charge free carriage on a small scale DAB service. The service has been licenced from Ofcom. The existing four community radio services provide input to the CIC’s strategy through the election of one director to represent their interests at Board level.

Consultation with stakeholders

The CICs stakeholders are the four community radio services, these organisations have agreed terms for the fee carriage with the CIC. The four community radio services have been involved in the development of the CIC and the bid for the licence from Ofcom. The four community radio services elect one of the three CIC directors who will respect their interests and provide feedback.

Directors' remuneration

Two directors (Richard Finch and Jonathan Morrell) are also part-time paid employees, each receiving a salary equivalent of £3,000 pa.

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
20 November 2024

And signed on behalf of the board by:
Name: Richard Finch
Status: Director