THORNBURY MEDIA COMMUNITY INTEREST COMPANY

Company limited by guarantee

Company Registration Number:
10727113 (England and Wales)

Unaudited statutory accounts for the year ended 5 April 2024

Period of accounts

Start date: 6 April 2023

End date: 5 April 2024

THORNBURY MEDIA COMMUNITY INTEREST COMPANY

Contents of the Financial Statements

for the Period Ended 5 April 2024

Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

THORNBURY MEDIA COMMUNITY INTEREST COMPANY

Balance sheet

As at 5 April 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 2,247 4,710
Total fixed assets: 2,247 4,710
Current assets
Debtors: 4 410 359
Cash at bank and in hand: 16,228 9,518
Total current assets: 16,638 9,877
Creditors: amounts falling due within one year: 5 ( 8,277 ) ( 1,369 )
Net current assets (liabilities): 8,361 8,508
Total assets less current liabilities: 10,608 13,218
Provision for liabilities: ( 534 ) ( 895 )
Total net assets (liabilities): 10,074 12,323
Members' funds
Profit and loss account: 10,074 12,323
Total members' funds: 10,074 12,323

The notes form part of these financial statements

THORNBURY MEDIA COMMUNITY INTEREST COMPANY

Balance sheet statements

For the year ending 5 April 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.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 2 January 2025
and signed on behalf of the board by:

Name: David Wrench
Status: Director

The notes form part of these financial statements

THORNBURY MEDIA COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 5 April 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 is reduced for estimated customer returns, rebates and other similar allowances.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases: Plant & Machinery 2-20% straight line Fixtures & Fittings 8-20% straight line Computer Equipment 20-25% straight line

    Other accounting policies

    Income tax expense represents the sum of the tax currently payable and deferred tax. The tax currently payable is based on taxable surplus for the year. Taxable surplus differs from surplus as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable surplus. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable surplus will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable surplus will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities. Current or deferred tax for the year is recognised in surplus or deficit, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

THORNBURY MEDIA COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 5 April 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 0 0

THORNBURY MEDIA COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 5 April 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 6 April 2023 5,685 988 526 7,199
Additions 37 37
Disposals ( 435 ) ( 435 )
Revaluations
Transfers
At 5 April 2024 5,685 590 526 6,801
Depreciation
At 6 April 2023 1,638 622 229 2,489
Charge for year 2,143 113 99 2,355
On disposals ( 290 ) ( 290 )
Other adjustments
At 5 April 2024 3,781 445 328 4,554
Net book value
At 5 April 2024 1,904 145 198 2,247
At 5 April 2023 4,047 366 297 4,710

THORNBURY MEDIA COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 5 April 2024

4. Debtors

2024 2023
£ £
Trade debtors 410
Other debtors 359
Total 410 359

THORNBURY MEDIA COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 5 April 2024

5. Creditors: amounts falling due within one year note

2024 2023
£ £
Trade creditors 2,283 803
Other creditors 5,994 566
Total 8,277 1,369

COMMUNITY INTEREST ANNUAL REPORT

THORNBURY MEDIA COMMUNITY INTEREST COMPANY

Company Number: 10727113 (England and Wales)

Year Ending: 5 April 2024

Company activities and impact

Thornbury Media CIC own and operate Thornbury Radio providing a community radio service to Thornbury and the surrounding area under an Ofcom community radio licence. The radio station, run entirely by volunteers, broadcasts both national and local news, spotlights community organisations and events and gives airtime to community organisations wishing to publicise events. Interviews are featured across a range of programming covering important issues, including the ongoing Thornbury High Street debate and the loss of important social and cultural amenities, The station continues to support local businesses who, in turn, contribute through advertising and promotion. Local authority and town council Grant’s have been instrumental in financing capital and operating costs. Thornbury Radio continues to feature outside broadcasts from local events around the area. The directors agreed to pursue a Small Scale DAB licence to operate DAB in the South Gloucestershire Area. A subsidiary company, South Glos Digital Community Interest Company (SGDCIC) was set up for this purpose. This future proofs the main area of business, Thornbury Radio

Consultation with stakeholders

The station has a comprehensive website where feedback is encouraged. A strong social media presence is maintained, again encouraging comment and feedback from our main stakeholders, the community of Thornbury and the surrounding villages and hamlets. The company has not issued any formal consultation. Social media is one of the main feedback channels together with atteendance at many of the organised events across the local area, both of which reported positive feedback from the community We provide annual reports to OFCOM

Directors' remuneration

No remuneration was received

Transfer of assets

A loan of £500 was transferred to TMCIC’s subsidary company South Glos Digital Community Interest Company

This report was approved by the board of directors on
2 January 2025

And signed on behalf of the board by:
Name: David Wrench
Status: Director