DSIgn Envelope ID." 8175EED9-A266469D47BF-E091138432DD Company No. 03439305 Charity No. 1071872 Assoclatlon of Marine Electronic & Radio Colleges Ltmited (a reglstered charlty and a company Ilmlted by guarantee) Report and Financial Statements For the year ended 31 December 2025
DSIgn Envelope ID." 8175EED9-A266469D47BF-E091138432DD ASSOCIATION OF MARINE ELEcfRONIC & RADIO COLLEGES LIMITED IA company Ilm?ted by guarantee) Reports and fTnanclal statements for the year ended 31 December 2025 Contents Page: Company information Trustees, report Independent examlner'5 report Statement of financial activities alance sheet Notes to the financlal statements 8- 13 The followtng pages do not form part of the statutory flnancial statements Details of Income and expenditure 14
DSIgn Envelope ID." 8175EED9-A266469D47BF-E091138432DD ASSOCIATION OF MARINE ELECTRONIC & RADIO COLLEGES LIMITED IA company limited by guarantee) Reference and admlnistratlve informatlon for the year ended 31 December 2025 DIRECTORS and TRUSTEES P Martin S Howard J Cartwright (Trustee only) J Wesl T 51ack IResigned April 20251 R Robertson A Banerjee REGISTERED OFFICE MHA Kendal House urley M05s Business Vlllage Oxenholme Road Kendal Cumbrla LA9 7RL ACCOUNTANTS MHA Kendal House Murley Moss Bu51ness Village Oxenholme Road Kendal Cumbria LA9 7RL CHARITY NO. 1071872 COMPANY NO. 03439305
DSIgn Envelope ID." 8175EED9-A266469D47BF-E091138432DD ASSOCIATION OF MARINE ELECTRONIC & RADIO COLLEGES LIMITED IA company Ilmltèd by guarantee) Trustees, report The Trustees present their report of the charity for the year ended 31 December 2025 which are also prepared to meet the requlrements for a directors, report and accounts for Companies Act purposes. The trustees have adopted the provisions of the Statement of Recommended Practice ISORPI "Accounling and Reporting by Charities" IFRS 1021 in preparing the annual report and financial stalemenis of the charlty. The financial statements have been prepared in accordance with the accountTng policies set Iwt in notes to the accounts and comply wlth the charity's goveming document, the Charltles Act 2011 and Accounting aTTrd Reportlng by Charities: Statement tsf Recommended Practice applicable io charities preparing their accounts in accordance w5th the Financial Reportlng Standard applicable In the UK and Republic of Ireland published in (ktober 2019 and in accordance wlth the special provisions for small companies under Pari 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 (Resigned April 20251 R Robertson A Banerjee J Cartwright ITru5tee only) As set out in the articles of association and the revised rules of the a$slatIon{2009Tr at each annual general meeting one thlrd of the dlrectors retire by rotation. OBJECTIVES AND ACTIVITIES The company is a charity, the objects of which are the advancement of publlc education and training in the fields of marine radio, electronlc5, telecommunications, radar, and electronic navigational 5ySterns. The Trustees have referred to the guidance contained in the Charity Commisslon'5 general guidance on public benefit when reviewing ihe aims and objectives and in planning our future activities. ACHIEVEMENTS AND PERFORMANCE Full Members total nil 12024: 231 and Associate Members nil 12024: 111. There were no wembership fee5 in 2025 a5 the MCA (Maritime arTrd Coastguard Agency) took all exam activities, including audit5ng, in-house. The centres, rherefore, from May 2025 reported dlrectly to the MCA. Income from the Global Maritlme Distress and Safety Systetn IGMDSS) examinations ceased in May 2025. Dlrect charitable expenditure accounted for 93% of Incoming resources 189.5% In 20241. Overall expenditure represented 122.5% of income resources 1103.5% in 20241. Cost5 in 2025 Included redundancy amounting to C17,500.
DSIgn Envelope ID." 8175EED9-A266469D47BF-E091138432DD ASSOCIATION OF MARINE ELERONIc & RADIO COLLEGES LIMITED {A company Ilmlted by guarantee) Trustees, report Itontlnued) ACHIEVEMENTS AND PERFORMANCE Icontlnued) The Executive Committee met in February, May, August and December 2025 via Zoom. The AGM and the Executive Comrnittee met in Newcastle in April 2025. All Executive Committee meetings dealt with items relating lo the operation of the company. The Maritime Consultatlon Group IMCGI which sat as an Open sessi( of rhe Executive Cornmittee held its last meeting in April 2025. The Executive Open Session received report5 from the Chief Examiner and had overall responsibility for the examlnation QA system. FUTURE DEVELOPMENTS The majority of our income stream was generated by activities we carried out on behalf of the Maritime and Coastguard Agency IMCAI. The MCA took these actiwties in-house mid-may 2025, therefore, reducing our ir)come stream considerably. Unfortunately, it has been decided, after consideration and looking at many other opportunltles, that we cannot as an organi5atlon continue to operate and reluctantly we must close our organisation in 2026 once all our investments mature. FINANCIAL REVIEW - RESERVES POLICY The As50clation reqLJlres financlal reserves for three s)urposes'. to be able to fund the start-up or operatlonal costs for any project that could not be supported out of annual income., to allow the Association to C(tinUe ils charitable activities by providing a level of Investment income that will partly compensate for the antlcipated 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 exceptlonal cost-bearing actions associated wlth it5 examlnaiion service quality assurance responsibilities. The level of reserves required for the Assoclatlon to meet its obllgation5 under paragraph 1. above is ¢lrca £300k. Circa £25Ok will be held on long-term deposit or Invested to produce an investment incotne Isee 1.11. above). Circa E50k will be held on 5hort-term deposit to allow any annual expenditure required for activities under 1.1. and 1.iii. Free reserves at the year end were [269,77612024: £301,488). The Association will prudently control its revenue expenditure In order to ensure an annual operating surplu5 can be maintained if possible. This will be achieved by setrlng a phased income and expendlture budget before the beginning of the finaricial year and monitoring the revenue budget and predicted surplus at quarterly meetlngs of the Board of Director5. In the event of no other major income generating activity being forthcoming, which is currently belng provided through Its examination ser4ices, the Association intends using its Investment Income to supplement other minor forms of income in order to continue wth its charitable activitles. This policy will be reviewed annually and any proposals for change discussed and approved at the annual general meetlng. For c05t savlng and environmental reasons all rneetlngs except for the April meetlng and AGM were held via Zoorn in 2025.
DSIgn Envelope ID." 8175EED9-A266469D47BF-E091138432DD ASSOCIATION OF MARINE ELECTRONIC & RADIO COLLEGES LIMITED IA Company Ilmited by guarantee) Trustees, report (continued) STRUCTURE GOVERNANCE AND ILINAGEMENT Status of thè company The company is a registered charity, number 1071872, and is limited by guarantee, and governed by Its metnorandurll and articles of association. Rècruitment and appointment of new dlrectors The Trustees are appointed by the Board of Trustees and serve until they resign or reti. The Trustees ensure that new Trustees have the necessary skills to contdbute to the Charity'5 managemenl and development. Rlsk assessment The Trustees have assessed the rnajor risks to which the company Is exposed, in particular those related to the operations and flnances 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 Iwho are also trustees of Associallon of Marine Electronlc & Radio Colleges Llmited for the purposes of charity lawl are responsible for preparing the Oirectors. Report and the financial Statements in accordance with appllcable law and United Kingdom Accounting Standards (United Klngdom Generally Accepted Accounting Praclicel. Company law requlres the dlrectors to prepare financial statements for each financial year, which glve a true and fair view of the state of affalrs of the charitable company and of the Incorning resources and application of resource5, including the Incorne and expendlture, of the charitable company for the year. In preparfng these financlal statements, the direciors are required to: select sultable accounting policie5 and apply them con51Stently,' observe the methods and princlples in the Charities SORP 2019 IFRS 1021,. make judgements and estimates that are reasonable and prudeni; state whether applicable UK Accounting Standards have been followed, subject to any mater5al departures disclosed and explained in the financial 5tatements,' prepare the financial statements on the going concern basis unless it Is Inappropriate to presume that the charitable company will continue to operate. The dlrectors are respon51ble for keeping adequate accounting records that disclose wth reasonable accuracy at any tirne the financial p051tion of the charilable company and enable them to ensure that the financial statements comply safeguarding the asset5 of he cha ith the Companies Act 2006. They are also responsible for preventlon and ection fraud ble company and hence for taking reasonable steps for the other irregularities. By order o he ard.. P Martin Dlrector Date: g /f/>6
DSIgn Envelope ID." 8175EED9-A266469D47BF-E091138432DD ASSOCIATION OF MARINE ELECTRONIC & RADIO COLLEG£S LIMITED A company Ilmlted by guarantee) Independent Examlner's Report to the Directors of A550clation of Marlne Electronlc & Radlo College5 Llrnlted I report to the charity trustees on my examination of the accounts of the company for the year ended 31 December 2025 which are set out on pages 6 to 13. Responsibilltles and ba51s of report As the charity trustees of the company land also Its directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirernents of the Companies Act 20061'the 2006 Act'i. Havlng satisfied myself that the accounts of the company are not required to be audlted under Part 16 of the 2006 Act and are ellglble 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 I'the 2011 Act'l. In carwng out my examination I have followed the Dlrectlons given by the Charity Cornmission under section 14515llbl of the 2011 Act. Independent examlner's statement I have completed my examlnation. I confirrll thai no matters have come to my attention In connection with the exarnination giving me cause to believe that in any material respecl.. accounting records were not kept In respect of the company as required by section 386 of the 2006 Act., or the accounts do not accord with those records,. or the accounts do not comply with the accounting requirements of section 396 of the 2Crf)6 Act other than any requirement that the accounts glve a 'true and fair view, which Is not a matter considered as part of an independenL 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 charitles appllcable to charities preparing their accounts in accordance with the Financial Reporting Standard appllcable In ihe UK and Republic of Ireland IFRS 1021. I have no concerns and have come across no other matters in connecticn with the examinatlon to which attention should be drawn in thls report in order to enable a proper understanding of the accounts to be reached. Kendal House Murley Moss Business Village Oxenholme Road Jack Steer BAIHonsl FCA Independent Examlner MHA Kendal Cumbria LA9 7RL Date: April 15, 2026
DSIgn Envelope ID." 8175EED9-A266469D47BF-E091138432DD ASSOCIATION OF MARINE ELECTRONIC ft RADIO COLLEGES LIMITED IA company Ilmited by guarantèe) statement of financial actItIeS Ilncludlng incomè and expenditure account) for ¢he year ended 31 December 2025 Unrestricted funds 2025 Note 2024 Income and endowments from: Charitable Activities.. Direct Subscriptions Exarnination Fees Other Examinatlon Servite5 Investments 7,860 294,321 3,458 13,583 121,687 8,739 10,631 Total Income and endowments 141,057 319,222 Expenditure on: Charitable actilitles.. Direct examination expenditure Volunteer Services Travel and accommodation Administraiive expense5 94,927 19,364 17,161 41,317 233,046 36,063 15,173 44,649 Total Expendlture 172,769 328,931 Net movement in funds 131,7121 {9,7091 Reconciliatlon of Funds: Unrestricted fund5 balance brought forward 301,488 311,197 Unrestricted funds balance carried forward 269,776 301,488 All amounts relate to discontinulng activltle5 - please refer to Going Concern note on page 9. There were no recognised gains or losses other than those included ill the statement of financial activities. The statement of flnancial actlvlties fom15 the income and expenditure account of the company. The notes on pages 8 io 13 form part of these financial statements.
DSIgn Envelope ID." 8175EED9-A266469D47BF-E091138432DD ASSOCIATION OF MARINE ELECTRONIC & RADIO COLLEGES LIMITED IA company Ilmlted by guarantee) Balance sheet as at 31 December 2025 Note 2025 2024 Current assets Debtors Cash at bank and In hand 10,811 293,046 272,276 272,276 303,857 Credltors Amount5 falllng due within orhe year 12,5001 12,3691 Net current assets 269,776 301,488 Total assets less current liabllltles 269,776 301,488 Funds of the charlty: Reserves - Unrestrlcted fund5 269,776 301,488 For the year ending 31 December 2025 the company was entitled to exemption from audit under sectlon 477 tsf the Cornpanies Act 2006 relatlng to srnall companies. The members have not requlred the company to obtain an audit in accordance wlth sectlon 476 of the Companle5 Act 2006. The directors acknowledge their responsibility for complying with the requirements of the Act th respect to accounting records and for the preparation of accounts. nce with the provlsions appllcable to companles These accounts have been prepared In accor subject to the small corllpanies regime. Approved by the rd f Dlrector 0910412026 .and signed on their behalf by: P Martin Dlrector Company Reglstratlon Number: 0343930S The notes on pages 8 to 13 form part of these financial statement5.
DSIgn Envelope ID." 8175EED9-A266469D47BF-E091138432DD ASSOCIATION OF RINE ELECTRONIC & RADIO COLLEGES LIMITED IA company limited by guarantee) Notes forming part of the flnanclal statement5 for the year ended 31 December 2025 ACCOUNTING POLICIES Cornpany Informatlon Association of Marine Electronic ft Radio Colleges Llrnited is a company l?mited by guarantee incorporated In England and Wale5. The registered office is MHA, Kendal House, Murley Moss Business Village, Oxenholme Road, Kendal, Cumbria, LA9 7RL Basls of Accountlng The financial statements have been prepared in atcordance wth Accounting and Reporting by Charities.. Statement of Recommended Practice appllcable to charities preparing their account5 in accordance with the Financial Reporting Standard appllcable in the UK and Republlc of Ireland IFRS10211issued October 20191-ICharities SORP IFRS10211, and the Companies Act 26. Association of Marille ElectrorTric & Radio Colleges Limited meets the definition of a publlc entity under FRS 102. Assets and liabilltie5 are inltlally recogni5ed at h15torical cost or transaction value unless otherwise stated in the relevanl accountlng policy notelsl. The flnancial statements are prepared In sterling, whlch Is the functional currency of the company. Monetary amounts in these financial 5tatemen15 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 chartty. Income All incoming resources are included in the Statement of Flnancial Acilvltles when the charfty TS legally entitled to the income, It is probable it will be received and the amount can be measured rellably. The following speciflc policies are applied io partlcular categories of Income.. lal Income represents gross examinatlon fees, dlrect subscriptions due for the year and income from other charltable actiwties. Ibl Inve5lment Income is Included when receivable. Expèndlture Expendlrure is recognised once there 15 a legal or construciive obllgation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be meastjred reliably. Charltable expenses include.. all expenses Incurred Tn carrying out examinations administration and issuing of certificates, maintaining quality control and disseminating appropiiate Informatlon., all expenses incurred in contributing to the development of natlonal education prograrllmes for the telecotnmunicatlons industry, encouraging new entrant5 into the industry and disseminating appropriate inforrnation. All expendTture is accounted for on an accruals basis. Administrative expenses are ihe costs of general running of the company not dlrectly attributable to the above.
DSIgn Envelope ID." 8175EED9-A266469D47BF-E091138432DD ASSOCIATION OF hiARINE ELECTRONIC & RADIO COLLEGES LIMITED {A company Ilmlted by iuarantee) Notes forming part of the flnanclal statèments for the year ended 31 December 2025IContinued) ACCOUNTING POLICIES Icontlnuedl Expenditure {continuedl Irrecoverable VAT 15 charged as a cost against the activity for which the expenditure was Incurred. Where costs cannof be directly attributed to partlcular headings they have beer¢ allocated on a basis con5isrent wth the use of the resources. Investment Incomè Investment income represents the interest earned on the investment of temporary surplus funds placed on dep051t, and is included in the accounts when recelvable. Forelgn currency translation Transactions in forelgn currencies are recorded at the rate ruling at the date of the transaction. All differences are Ken lo the Statement of Financial Actlvltles. Debtors and creditors recelvablelpayable withln one year Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arlslng from impalrment are recognised in expenditure. Cash at bank and In hand Cash at bank and cash in hand includes cash and short temi 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. Finantlal Instruments The charily only has financlal assets and financial 17abilities of a kind that quallfy as baslc financial instruments. Basic financial instruments are inilially recognised at transaction value and subsequenily measured at their settlement value wth the exception of bank loans which are 5LJbsequently measured at amortised cost using the effective interest method. Golng concern The financial Statements have been prepared on a golng concern basis. As disclosed in the Trustees, Annual Report under Future Developments, the trustees have indicated their Intention to wind down the activities of the charity and, in accordance wlth the charity's trust deed, distribute its remainlng assets to appropr(ate beneficiaries. The trustees have reviewed the charity's financial position, including Its available resetves and expected expenditure, and are satisfied that the charity has sufficient resource5 to continue its operations and meet its liabilities as they fall due for the foreseeable future. At the date of approval of these flnancial statements, the preclse timing of the wind-down has not yet been determined and It is uncertaln whether this wll occur within the next 12 months or over a longer perlod. Accordingly, the trustees conslder it appropriate to prepare the flnancial statements on the golng concern ba515.
DSIgn Envelope ID." 8175EED9-A266469D47BF-E091138432DD ASSOCIATION OF MARINE ELEcfRONIC & RADIO COLLEGES LIMITED IA company Ilmlted by guarantee) Notes fonnlng part of the financlal Statements for the year Ènded 31 December 2025 (Continued) ACCOUNTING POLICIES {continuedl Judgèments and key sources of estlmatlon uncertalnty In the appllcatlon of the charity's accounting pollcles, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabillties 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 rnay differ from these estimates. The estirnate5 and underlying assumption5 are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in whlch the estimate is rewsed where the revision affect5 only that period, or In the period of the rew5ion and future periods where the revision affects both current and future periods. Judgement5 and key sources of estirnatlon uncertalnty Icontlnuedl Key assumptlOll5, judgements and estimaies In the opinion of the Trustees, there have been no significant judgements (apart frorn those inyolwng e5timatesl made In the process of applwng the above accounting policie5. There have been no key assumptions concerning future and other key sources of estimation uncertalnty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of asseis and liablllties wthin the next financial year. INVESTMENT INCOME 2025 2024 Bank and 8ulldlng Society Interest 10,631 13,583 All income in the prior year was unrestricted. RESOURCES EXPENDED Offlce Holder Costs Other Costs Total 2025 Total 2024 Direct examination expenditure Volvnteer sendce5 - non-directors Travel and accommixlation Administrallve expenses 94,927 19,364 17,161 17,155 94,927 233,046 19,364 36,063 17,16f 15,173 41,317 44,649 24,162 24,162 148,607 172,769 328,931 All expenditure in the prior year was unrestricted. 10
DSIgn Envelope ID." 8175EED9-A266469D47BF-E091138432DD ASSOCIATION OF MARINE ELECTRONIC & RADIO COLLEGES LIMITED IA company limlted by quaranteel Notes formlng part of the financlal stateménts for the year ended 31 December 2025 (Continued) INFORMATION ON DIRECTORS AND TRUSTEES None of the directors or Trustees recelved payments for volunteer SeI(e5 during the year 12024: Cnill. A Trustee received a paymenl of £1,5 ff)r additional adminislralion work unrelated to their role as Trustee. STAFF NUMBERS AND COSTS The total wages and salaries costs were a5 follows.. 2025 2024 Wages and Salaries Pension contributions RedUndaY 6,227 435 17,500 14,944 448 24,162 15,392 The company had l employee In 2025 (until 31 May 2025112024..11. This employee was primarlly involved in magement and adminislration of the charity. No employee was paid more than 160,000 in the year12024'. nill. Total redundancylterminatlon payment5 amour)t to £17,5(KJ 12024.. £0) and related to the closure of the charity. All expendlture in the prfor year was unrestricted. DEBTORS: Due thin one year 2025 2024 Prepayments and other debtors 10,811 10,811 CREDITORS.. Amounts falllng due wlthln oné year 2025 2024 Other creditors PAYE and Nl 2,500 2,226 143 2,500 2,369
DSIgn Envelope ID." 8175EED9-A266469D47BF-E091138432DD ASSOCIATION OF MARINE ELEcfRONIC & RADIO COLLEGES LIMITED IA company Ilmlted by guarantee) Notes formlng part of the financlal statement5 for the year ended 31 December 2025 (Continued) DEFERRED INCOME Deferred income comprlses of advance membership fees. 2025 2024 Balance at 1 JarTruary Amount released to income earned from charitable actiwtles Balance at 31 December 7,980 17,9801 RELATED PARTY DISCLOSURES Transactions Travel and accommodation expenses relatlng to 6 dlrectors and 1 trustee only for 202512024: 6 dlrectors and 1 trustee only) amoLJnted to £1,589 Director5 12024 £5,584) and £346 Trustee 12024.. £1,257). LIABILITY OF MEMBERS Every member of the company undertakes to contribLJte such amount as may be required (not eXcding £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 liabililie5 contracted before he or she cease5 to be a member, and of the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributions atnong themselve5. 10 TAXATION a charlty, the Ass(latION of MaAne Electronic and Radio Colleges Limited is exempt from tax on income and gains falllng within seciions 472-474 of the Corporation Tax Acl 2010, sections 478 489 of the Corporation Tax Act 2010, or section 256 of the Taxation of Chargeable Gains Aci 1992 to the extent that these are applled io its charltable objects. No tax charges have arisen in the Charity. 11 CONTROL There Is no single controlling party of the charlty for the current or previous year. 12
DSIgn Envelope ID." 8175EED9-A266469D47BF-E091138432DD ASSOCIATION OF MARINE ELECTRONIC & RADIO COLLEGES LIMITED IA company Ilmlted by guarantèe) Admlnlstratlve expenses for thè year ended 31 December 2025 2025 2024 ADMINISTRATIVE EXPENSES Volunteer services Pension RedL¢ndancy costs Support services Telephone and Post Printing and Stationery Travelllng expenses Legal and prof@S5ional fees Accounting fees and software Bank charges Insurance Computer Support Web Site Donation5 6,227 435 17,500 2,280 250 49 5,860 180 3,004 2,116 2,722 14,944 168 6,214 162 2,180 959 3,393 281 9(K) 15,000 694 41,317 44,649 All expenditure In the prior year was unrestricted. 13