CHELMSFORD COMMUNITY RADIO C.I.C.

Company Registration Number:
08586315 (England and Wales)

Unaudited statutory accounts for the year ended 31 May 2024

Period of accounts

Start date: 1 June 2023

End date: 31 May 2024

CHELMSFORD COMMUNITY RADIO C.I.C.

Contents of the Financial Statements

for the Period Ended 31 May 2024

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

CHELMSFORD COMMUNITY RADIO C.I.C.

Directors' report period ended 31 May 2024

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

Principal activities of the company

The principal activity of the company is that of a community radio station.



Directors

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

Judith Anilla Deakin
Matthew Eaves


The director shown below has held office during the period of
1 June 2023 to 16 October 2023

Hal Maclean


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 January 2025

And signed on behalf of the board by:
Name: Matthew Eaves
Status: Director

CHELMSFORD COMMUNITY RADIO C.I.C.

Profit And Loss Account

for the Period Ended 31 May 2024

2024 2023


£

£
Turnover: 22,304 51,314
Cost of sales: ( 1,754 ) ( 1,330 )
Gross profit(or loss): 20,550 49,984
Administrative expenses: ( 18,097 ) ( 52,230 )
Operating profit(or loss): 2,453 (2,246)
Interest receivable and similar income: 54 40
Interest payable and similar charges: ( 10 )
Profit(or loss) before tax: 2,507 (2,216)
Profit(or loss) for the financial year: 2,507 (2,216)

CHELMSFORD COMMUNITY RADIO C.I.C.

Balance sheet

As at 31 May 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 324 2,021
Total fixed assets: 324 2,021
Current assets
Debtors: 4 706 3,359
Cash at bank and in hand: 19,100 25,669
Total current assets: 19,806 29,028
Creditors: amounts falling due within one year: 5 ( 11,690 ) ( 25,116 )
Net current assets (liabilities): 8,116 3,912
Total assets less current liabilities: 8,440 5,933
Total net assets (liabilities): 8,440 5,933
Capital and reserves
Called up share capital: 2 2
Profit and loss account: 8,438 5,931
Total Shareholders' funds: 8,440 5,933

The notes form part of these financial statements

CHELMSFORD COMMUNITY RADIO C.I.C.

Balance sheet statements

For the year ending 31 May 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 17 January 2025
and signed on behalf of the board by:

Name: Matthew Eaves
Status: Director

The notes form part of these financial statements

CHELMSFORD COMMUNITY RADIO C.I.C.

Notes to the Financial Statements

for the Period Ended 31 May 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 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 of sales/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 Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows: Asset class Depreciation method and rate Plant and Machinery 25% Straight Line Method

    Other accounting policies

    Summary of significant accounting policies and key accounting estimates The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. Statement of compliance These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime). Basis of preparation These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. Going concern The financial statements have been prepared on a going concern basis. Cash and cash equivalents Cash 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. Trade debtors Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary 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. Trade creditors Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable 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 defer settlement 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 at amortised cost using the effective interest method. Share capital Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Financial instruments Classification Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

CHELMSFORD COMMUNITY RADIO C.I.C.

Notes to the Financial Statements

for the Period Ended 31 May 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 1 1

CHELMSFORD COMMUNITY RADIO C.I.C.

Notes to the Financial Statements

for the Period Ended 31 May 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 June 2023 37,342 37,342
Additions
Disposals
Revaluations
Transfers
At 31 May 2024 37,342 37,342
Depreciation
At 1 June 2023 35,321 35,321
Charge for year 1,697 1,697
On disposals
Other adjustments
At 31 May 2024 37,018 37,018
Net book value
At 31 May 2024 324 324
At 31 May 2023 2,021 2,021

CHELMSFORD COMMUNITY RADIO C.I.C.

Notes to the Financial Statements

for the Period Ended 31 May 2024

4. Debtors

2024 2023
£ £
Trade debtors 1,900
Other debtors 706 1,459
Total 706 3,359

CHELMSFORD COMMUNITY RADIO C.I.C.

Notes to the Financial Statements

for the Period Ended 31 May 2024

5. Creditors: amounts falling due within one year note

2024 2023
£ £
Taxation and social security 602
Accruals and deferred income 11,690 11,690
Other creditors 12,824
Total 11,690 25,116

COMMUNITY INTEREST ANNUAL REPORT

CHELMSFORD COMMUNITY RADIO C.I.C.

Company Number: 08586315 (England and Wales)

Year Ending: 31 May 2024

Company activities and impact

The company has been set up to carry on activities which benefit the community and in particular to provide a live radio broadcast and community radio station for the area of Chelmsford, and to engage the community residents and businesses in creating content for the radio station through a planned programme of outreach work, corporate training events and community leisure activities.

Consultation with stakeholders

The company's stakeholders are the presenters, advertisers and the listening audience. The company gauges feedback from all of these stakeholders to continually develop and improve the broadcasts

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 January 2025

And signed on behalf of the board by:
Name: Matthew Eaves
Status: Director