Do¢usign Envelope ID: 07F87CCE-216B4022-9C904588F3303AC1 Company No. 03439305 Charity No. 1071872 Association of Marine Electronic & Radio Colleges Limited (a registered charity and a company limited by guarantee) Report and Financial Statements For the year ended 31 December 2024
Do¢usign Envelope ID: 07F87CCE-216B4022-9C904588F3303AC1 ASSOCIATION OF MARINE ELECTRONIC & RADIO COLLEGES LIMITED (A company limited by guarantee) Reports and financlal statements for the year ended 31 December 2024 Contents Page: Company information Trustees, report Independent examiner's report Statement of financial activities Balance sheet Notes to the financial statements 8-13 The followlng pages do not form part of the statutory financlal statements Details of income and expenditure 14- 15
Do¢usign Envelope ID: 07F87CCE-216B4022-9C904588F3303AC1 ASSOCIATION OF MARINE ELECTRONIC & RADIO COLLEGES LIMITED (A company limited by guarantee) Reference and administrative informatlon for the year ended 31 December 2024 DIRECTORS and TRUSTEES P Martin S Howard J Cartwright (Trustee only) J West T Slack R Robertson A Banerjee SECRETARY P Langfield REGISTERED OFFICE Bridge Mills Stramongate Kendal Cumbria LA9 4UB BUSINESS ADDRESS Bridge Mills Stramongate Kendal Cumbria LA9 4UB ACCOUNTANTS MHA Kendal House Murley Moss Business Village Oxenholme Road Kendal Cumbria LA9 7RL CHARITY NO. 1071872 COMPANY NO. 03439305
Do¢usign Envelope ID: 07F87CCE-216B4022-9C904588F3303AC1 ASSOCIATION OF MARINE ELECTRONIC & RADIO COLLEGES LIMITED (A company limited by guarantee) Trustees, report The Trustees present their report of the charity for the year ended 31 December 2024 which are also prepared to meet the requirements for a directors, report and accounts for Companies Act purposes. The trustees have adopted the provisions of the Statement of Recommended Practice (SORPJ 'Accounting and Reporting by Charities" (FRS 102) in preparing the annual report and financial statements of the charity. The financial statements have been prepared in accordance with the accounting policies set out Tn notes to the accounts and comply with the charity's governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2019 and in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006. DIRECTORS and TRUSTEES The directors in the year were as follows:. P Martin S Howard J West T Slack R Robertson (Appointed May 2024) A Banerjee {AppoTnted May 2024) G McGowan {Resigned May 2024) J Cartwright (Trustee only) As set out in the articles of association and the revised rules of the association {2009) at each annual general meeting one third of the directors retire by rotation. OBJECTIVES AND A1VITIEs The company is a charity, the objects of which are the advancement of public education and training in the fields of marine radio, electronics, telecommunications, radar, and electronic navigational systems and to hold and conduct such examinations as should be necessary to test or determine the skill and efficiency of persons presenting themselves for such examinations. The Trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the aims and objectives and in planning our future activities. ACHIEVEMENTS AND PERFORMANCE Full Members total 23 (2023: 26) and Associate Members 11 {2023: 12). Fees for Members and Associate Members remain at Full £270, Associate El 50. Income from the Global MaritTme Distress and Safety System (GMDSS) examinations increased by 2% over the year. Direct charitable expenditure accounted for 89.5% of incoming resources {89% in 2023). Overall expenditure represented 103.5% of income resources {99% in 2023). Administrative expenses were higher in 2024 than 2023 primarily due to making a charitable donation.
Do¢usign Envelope ID: 07F87CCE-216B4022-9C904588F3303AC1 ASSOCIATION OF MARINE ELECTRONIC & RADIO COLLEGES LIMITED (A company limited by guarantee) Trustees, report (continued) ACHIEVEMENTS AND PERFORMANCE (contfnued) The Executive Committee met in March, September and December 2024 via Zoom. The AGM and the Executive Committee met in Newcastle in May 2024. All Executive Commlttee meetings dealt with items relating to the operation of the company. The Maritime Consultation Group {MCG) which sits as an Open Session of the Executive Committee is still workTng well. The Executive Open Session receives reports from the Chief Examiner and has overall responsibility for the examination QA system. The revised course and examination audit system is running well. FUTURE DEVELOPMENTS The majority of our income stream is generated by activities we carry out on behalf of the Maritime and Coastguard Agency (MCA). The MCA have decided to take these activities in-house, therefore, reducing our income stream considerably. Unfortunately, it has been decided, after consideration and looking at many other opportunities, that we cannot as an organisation continue to operate and reluctantly we must close our organisation once this major income stream comes to an end. FINANCIAL REVIEW - RESERVES POLICY The Association requires flnancial reserves for three purposes: to be able to fund the start-up or operational costs for any project that could not be supported out of annual income. to allow the Association to continue its charitable activities by providing a level of investment income that will partly compensate for the anticipated decrease in future income expected from its GMDSS examination services" iii. to prowde a contingency fund that will enable the Association to carry out any exceptional cost-bearing actions associated with its examination service quality assurance responsibilities. The level of reserves required for the Association to meet its obligations under paragraph 1. above is circa E300k. Circa £250k WTII be held on long-term deposit or invested to produce an investment income (see 1.11. above). Circa £50k will be held on short-term deposit to allow any annual expenditure required for activities under 1.1. and 1.iii. Free reserves at the year end were £299,72312023: £311,197). The Association will prudently control its revenue expenditure in order to ensure an annual operating surplus can be maintained if possible. This will be achieved by setting a phased income and expenditure budget before the beginning of the financial year and monitoring the revenue budget and predicted surplus at quarterly meetings of the Board of Directors. In the event of no other major income generating activity being forthcoming, which is currently being provided through its examination services, the Association intends using its investment income to supplement other minor forms of income, such as supplementary subscriptions, in order to continue with its charitable activities. This policy will be reviewed annually and any proposals for change discussed and approved at the annual general meeting. For cost saving and environmental reasons all meetings except for the May meeting and AGM were held via Zoom in 2024.
Do¢usign Envelope ID: 07F87CCE-216B4022-9C904588F3303AC1 ASSOCIATION OF MARINE ELECTRONIC & RADIO COLLEGES LIMITED (A company limited by guarantee) Trustees, report (continued) STRUCTURE GOVERNANCE AND MANAGEMENT Status of the company The company is a registered charity, number 1071872, and is limited by guarantee, and governed by its memorandum and articles of association. Recruitment and appointment of new directors The Trustees are appointed by the Board of Trustees and serve until they resign or retire. The Trustees ensure that new Trustees have the necessary skills to contribute to the Charity's management and development. Risk assessment The Trustees have assessed the major risks to which the company is exposed, in particular those related to the operations and finances of the company, and are satisfied that systems are in place to mitigate the company's exposure to the major risks. TRUSTEES, RESPONSIBILITIES The directors (who are also trustees of Association of Marine Electronic & Radio Colleges Limited for the purposes of charity law) are responsible for preparing the Directors, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the directors to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for the year. In preparing these financial statements, the directors are required to: select suitable accounting policies and apply them consistently. observe the methods and principles in the Charities SORP 2019 (FRS 102). make judgements and estimates that are reasonable and prudent. state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue to operate. The directors are responsible for keeplng adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the CompanTes Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable Steps for the prevention and detection of fraud and other irregularities. By order of the board: angfield Secretary Date: )2.S
Do¢usign Envelope ID: 07F87CCE-216B4022-9C904588F3303AC1 ASSOCIATION OF MARINE ELECTRONIC & RADIO COLLEGES LIMITED (A company limited by guarantee) Independent Examlner's Report to the Directors of Association of Marine Electronlc & Radlo Colleges Limited I report to the charity trustees on my examination of the accounts of the company for the year ended 31 December 2024 which are set out on pages 6 to 13. Responsibllitles and basfs of report As the charity trustees of the company {and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 {'the 2006 Act,). Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company's accounts as carried out under Section 145 of the Charities Act 2011 {'the 2011 Act,). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. Independent examiner's statement Since the company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member the ICAEW, which is one of the listed bodies. I have completed my examination. I confinn that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: accounting records were not kept in respect of the company as required by section 386 of the 2006 the accounts do not accord with those records; or the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view, which is not a matter considered as part of an independent examination; or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Kendal House Murley Moss Business Village Oxenholme Road Jack Steer BA(Hons) ACA Independent Examlner MHA Kendal Cumbria LA9 7RL Date: April 16, 2025
Do¢usign Envelope ID: 07F87CCE-216B4022-9C904588F3303AC1 ASSOCIATION OF MARINE ELECTRONIC & RADIO COLLEGES LIMITED (A company limited by guarantee) Statement of financial activities (including income and expenditure account) for the year ended 31 Decernber 2024 Unrestricted funds 2024 Note 2023 Income and endowments from: Charitable Activities: Direct Subscriptions Examination Fees Other Examination Services Investments 7,860 294,321 3,458 13,583 8,760 288,737 6,619 Total income and endowments 319,222 304,116 Expenditure on: Charitable activities: Direct examination expenditure Volunteer services Travel and accommodation Administrative expenses 233,046 36,063 15,173 44,649 231,369 20,303 20,266 30,256 Total Expendlture 328,931 302,194 Net movement in funds 19,709) 1,922 Reconclliatfon of Funds: Unrestricted funds balance brought forward 311,197 309,275 Unrestricted funds balance carried forward 301,488 311,197 All amounts relate to continuing activities. There were no recognised gains or losses other than those included in the statement of financial activities. The statement of financial activities forms the income and expenditure account of the company. The notes on pages 8 to 13 form part of these financial statements.
Do¢usign Envelope ID: 07F87CCE-216B4022-9C904588F3303AC1 ASSOCIATION OF MARINE ELECTRONIC & RADIO COLLEGES LIMITED (A company limited by guarantee) Balance sheet as at 31 December 2024 Note 2024 2023 Current assets Debtors Cash at bank and in hand 10,811 293,046 7,923 313,481 303,857 321,404 Creditors Amounts falling due within one year (2,369) (10,207) Net current assets 301,488 311,197 Total assets less current liabilities 301,488 311,197 Funds of the charity: Reserves - Unrestricted funds 301,488 311,197 For the year ending 31 December 2024 the company was entitled to exemption from audit 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 responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. Approved by t oard ectors on ... .and signed on their behalf by: P Martin Director Company Registration Number: 03439305 The notes on pages 8 to 13 fonn part of these financial statements.
Do¢usign Envelope ID: 07F87CCE-216B4022-9C904588F3303AC1 ASSOCIATION OF MARINE ELECTRONIC & RADIO COLLEGES LIMITED {A company limited by guarantee) Notes forming part of the financial statements for the year ended 31 December 2024 ACCOUNTING POLICIES Company information Association of Marine Electronic & Radio Colleges Limited is a company limited by guarantee incorporated in England and Wales. The registered office is Bridge Mills, Stramongate, Kendal, Cumbria, LA9 4UB. Basis of Accounting The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting standard applicable in the UK and Republic of Ireland (FRS102)(issued October 2019)-{Charities SORP {FRS102)), and the Companies Act 2006. Association of Marine Electronic & Radio Colleges Limited meets the definition of a public entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. Fund accounting Unrestricted funds are available for use at the discretion of the Trustees in furtherance of general objectives of the charity. Income All incoming resources are included in the Statement of Financial Activities when the charity is legally entitled to the income, it is probable it will be received and the amount can be measured reliably. The following specific policies are applied to particular categories of income: (a) Income represents gross examination fees, direct subscriptions due for the year and income from other charitable activities. All subscriptions received for the year ended 31 December 2023 have been deferred to that accounting period. (b) Investment income is included when receivable. Expenditure Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Charitable expenses include: all expenses incurred in carrying out examinations - administration and issuing of certificates, maintaining quality control and disseminating appropriate information. all expenses incurred in contributing to the development of national education programmes for the telecommunications industry, encouraging new entrants into the industry and disseminating appropriate information.
Do¢usign Envelope ID: 07F87CCE-216B4022-9C904588F3303AC1 ASSOCIATION OF MARINE ELECTRONIC & RADIO COLLEGES LIMITED (A company limited by guarantee) Notes forming part of the flnanclal statements for the year ended 31 December 2024(Continued) ACCOUNTING POLICIES (contvnued) Expenditure {contlnued) All expenditure is accounted for on an accruals basis. Administrative expenses are the costs of general running of the company not directly attributable to the above. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of the resources. Investment income Investment income represents the interest earned on the investment of temporary surplus funds placed on deposit, and is included in the accounts when receivable. Foreign currency translation Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to the Statement of Financial Activities. Debtors and creditors receivable/payable WTthin one year Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure. Cash at bank and in hand Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Financial Instruments The charity only has financial assets and financial liabilTties of a kind that qualify as basic financlal instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. Going concern The trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for a period of at least 12 months from the date the accounts are approved. Thus, the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. However, as referenced in the Trustees report under Future Developments, the organisation has a plan to close in the near future. Judgements and key sources of estimation uncertalnty In the applicatiOT) of the charity's accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Do¢usign Envelope ID: 07F87CCE-216B4022-9C904588F3303AC1 ASSOCIATION OF MARINE ELECTRONIC & RADIO COLLEGES LIMITED (A company limited by guarantee) Notes forming part of the financial statements for the year ended 31 December 2024 (Continued) ACCOUNTING POLICIES (contvnued) Judgements and key sources of estimation uncertainty (continued) Key assumptions, judgements and estimates In the opinion of the Trustees, there have been no significant judgements (apart from those in- volving estimates) made in the process of applying the above accounting policies. There have been no key assumptions concerning future and other key sources of estimation uncer- tainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilitles within the next financial year. INVESTMENT INCOME 2024 2023 Bank and Building Society Interest 13,583 6,619 All income in the prior year was unrestricted. RESOURCES EXPENDED Office Holder Costs Other Costs Total 2024 Total 2023 Direct examination expenditure Volunteer services - non-directors Travel and accommodation Administrative expenses 233,046 36,063 15,173 29,257 233,046 231,369 36,063 20,303 15,173 20,266 44,649 30,256 15,392 15,392 313,539 328,931 302,194 All expenditure in the prior year was unrestricted. 10
Do¢usign Envelope ID: 07F87CCE-216B4022-9C904588F3303AC1 ASSOCIATION OF MARINE ELECTRONIC ft RADIO COLLEGES LIMITED (A company limited by guarantee) Notes forming part of the financial statements for the year ended 31 December 2024 (Continued) INFORMATION ON DIRECTORS AND TRUSTEES None of the directors or Trustees received payments for volunteer services during the year12023: £nill. STAFF NUMBERS AND COSTS The total wages and salaries costs were as follows: 2024 2023 Wages and salaries Pension contributions 14,944 448 14,298 423 15,392 14,721 The company had 1 employee in 2024 {2023:1). This employee was primarily involved in management and administration of the charity. No employee was paid more than £60,000 in the year (2023: nil). All expenditure in the prior year was unrestricted. DEBTORS: Due within one year 2024 2023 Trade debtors Prepayments and other debtors 2,610 5,313 10,811 10,811 7,923 CREDITORS: Amounts falling due within one year 2024 2023 Other creditors Deferred income: 2025 Membership Fees (note 7) PAYE and Nl 2,226 2,022 7,980 205 143 2,369 10,207 11
Do¢usign Envelope ID: 07F87CCE-216B4022-9C904588F3303AC1 ASSOCIATION OF MARINE ELECTRONIC & RADIO COLLEGES LIMITED (A company limited by guarantee) Notes forming part of the financial statements for the year ended 31 December 2024 (Continued) DEFERRED INCOME Deferred income comprises of advance membership fees. 2024 2023 Balance at 1 January Amount released to income earned from charitable activities Balance at 31 December 7,980 (7,980) 8,700 {8,700) 7,980 7,980 RELATED PARTY DISCLOSURES Transactions Travel and accommodation expenses relating to 6 directors and 1 trustee only for 2024 {2023: 5 directors and 1 trustee only) amounted to £5,584 Directors (2023 £2,505) and £1,257 Trustee 12023: £6131. LIABILITY OF MEMBERS Every member of the company undertakes to contribute such amount as may be required (not exceeding £101 to the company's assets if it should be wound up while he or she is a member or within one year after he or she ceases to be a member, for payment of the company's debts and liabilities contracted before he or she ceases to be a member, and of the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributions among themselves. 10 TAXATION As a charity, the Association of Marine Electronic and Radio Colleges Limited is exempt from tax on income and gains falling within sections 472-474 of the Corporation Tax Act 2010, sections 478 489 of the Corporation Tax Act 2010, or section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the Charity. 11 CONTROL There is no single controlling party of the charity for the current or previous year. 12
Do¢usign Envelope ID: 07F87CCE-216B4022-9C904588F3303AC1 ASSOCIATION OF MARINE ELECTRONIC & RADIO COLLEGES LIMITED (A company limited by guarantee) Admlnistrative expenses for the year ended 31 December 2024 2024 2023 ADMINISTRATIVE EXPENSES Volunteer services Pension Support services Telephone and Post PrintTng and Stationery Travelling expenses Legal and professional fees Accounting fees and software Bank charges Insurance Computer Support Web Site Exchange Fluctuations Donations 14,944 14,298 423 4,410 168 160 4,440 20 1,991 547 2,988 60 908 6,214 162 2,180 959 3,393 281 900 15,(M)O 44,649 30,256 All expenditure in the prior year was unrestricted. 13