Registered number 05328215 Charity number 1138441
Angel Radio Limited (A company limited by guarantee)
Accounts
30 June 2021
Angel Radio Limited Company Information
Directors and trustees
Mr J R Wingfield Mr A Smith Mr M Ross Mrs V J Rogers
Station Manager
Mr Antony Smith
Accountants
AccountArt 5 St Thomas Avenue Hayling Island Hampshire PO11 0ET
Registered office and place of operation
17 Market Parade Havant Hampshire PO9 1PY
Registered number 05328215
Charity number 1138441
1
Angel Radio Limited Registered number: 05328215 Annual report of the trustees and directors
The trustees and directors present their report and accounts for the year ended 30 June 2021.
Structure, Governance and Management
Governing document
The organisation is a charitable company limited by guarantee and is therefore governed by a memorandum and articles of association.
Recruitment and Appointment of Trustees
The directors of the company are also the trustees of the charity for the purposes of charity law. There is no minimum or maximum length of service and all trustees have a basic review made into their background.
Risk management
The trustees have considered the various risks facing the radio station and feel that appropriate strategies are in place to deal with any adverse effects as necessary. These strategies are monitored on a regular and ongoing basis.
Direction, management and service delivery
The board of trustees aim to meet each quarter to consider directions, key strategies and overall performance. Although this has not happened during the pandemic. The day to day management of the radio station is done by the Station Manager. Quarterly returns are produced for various regulating bodies. The Station Manager reports back to the trustees at each quarterly meeting.
Objectives and Activities
The main object of the charity are to relieve people aged 60 and over in Hampshire who are in need, by reason of age, illness, disability or other necessitous circumstances, by the provision of a nostalgia radio service for such persons.
2
Angel Radio Limited Registered number: 05328215 Annual report of the trustees and directors
Achievements and performance
Angel Radio was the very first radio station in the UK to develop and broadcast using DAB+ and now it has become the norm for most UK stations using small scale digital multiplexes. Angel Radio has continued to expand its geographical coverage of the UK by adding Brighton and Worthing to its tally of cities able to receive us on digital radios. We have also been chosen by a major digital distribution company to join their new DAB multiplex covering all 5 Channel Islands. Angel Radio is also included in over 40 licence applications for DAB multiplexes around the UK. In this period Angel Radio received an FM power upgrade which enables us to quadruple the output from our FM transmitter and expands our coverage considerably, especially in the direction of Chichester, which recently lost its own local commercial station, Spirit FM.
Financial review
During the year to 28 February 2018, the charity resulted in a small surplus. The income for the year dropped by £8,000 with most of this being in donation income. The balance sheet is showing a positive balance and the trustees consider that things will continue improve.
Principal funding sources
The principal funding comes from regular donations from listeners and grants from local councils and other organisations. Donated nostalgia items are also sold via ebay to raise funds for the radio station. The charity is very lucky to have a large membership of volunteers who help to run the radio station by producing broadcasts, manning reception and various other necessary 'jobs'.
Investment policy
The charity does not have a fixed investment policy .
Reserves policy
There is no fixed reserves policy in place. The situation is continually and conservatively reviewed.
3
Angel Radio Limited Registered number: 05328215 Annual report of the trustees and directors
Trustees and Directors' responsibilities
The trustees and directors are responsible for preparing the report and accounts in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice. Company law requires the dirctors to prepare accounts for each financial year which give a true and fair view of the state of affairs fo the company and of the profit or loss for that period.
In preparing those accounts, the directors are required to:
-
select suitable accounting policies and then apply them consistently;
-
make judgements and estimates that are reasonable and prudent, and
-
prepare accounts on the going concern basis unless it is inappropriate to presume that
the charity will continue in business.
The directors are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Mr M Ross Director and trustee
Date
4
Independent Examiner's Report to the trustees of Angel Radio Limited
I report on the accounts of the charity for the year ended 28 February 2015 as set out on pages 5 to 10.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is my responsibility to:
-
examine the accounts under section 145 of the Charities Act,
-
to follow the procedures laid down in the general Directions given by the Charity Commission (under section
-
145(5)(b) of the Charities Act, and
-
to state whether particular matters have come to my attention.
Basis of independent examiner’s report
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
Independent examiner’s statement
In connection with my examination, no matter has come to my attention:
(1) which gives me reasonable cause to believe that in any material respect the requirements
-
to keep accounting records in accordance with section 130 of the Charities Act; and
-
to prepare accounts which accord with the accounting records and comply with the accounting requirements of
-
the Charities Act have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Mrs V J Rogers Chartered Certified Accountant
AccountArt Chartered Certified Accountants 5 St Thomas Avenue Hayling Island Hampshire PO11 0ET
15 June 2022
5
Angel Radio Limited Statement of Financial Activities for the year ended 30 June 2021
| Notes Incoming resources 8 Legacies and donations Advertising income Sales of memorabilia Total incoming resources Resources expended 9 Cost of sales Restricted costs Studio costs Fundraising events Administrative expenses Total resources expended Net resources expended before transfers Transfers between funds Net movement in funds for the year Total funds at 1 July 2020 Total funds at 30 June 2021 |
2021 £ Restricted Funds 19,485 - - 19,485 - - - - - - 19,485 - 19,485 30,996 50,481 |
2021 £ Unrestricted Funds 156,569 - 442 157,011 |
2021 £ Total Funds 176,054 - 442 176,496 (6,954) - (28,125) - (44,027) (79,106) - - 97,390 - 97,390 16,228 113,618 |
2020 £ Total Funds 58,608 10,305 737 |
|---|---|---|---|---|
| 69,650 | ||||
| (6,954) - (28,125) - (44,027) (79,106) 77,905 - 77,905 (14,768) 63,137 |
(3,080) - (25,218) (78) (37,331) |
|||
| (65,707) | ||||
| 3,943 - |
||||
| 3,943 12,285 |
||||
| 16,228 |
6
Angel Radio Limited Balance Sheet as at 30 June 2021
| Notes Fixed assets Tangible assets 2 Current assets Debtors 3 Cash at bank and in hand Creditors: amounts falling due within one year 4 Net current assets Net assets Charity funds 5 General fund Restricted funds Total funds |
2021 £ 15,227 10,531 94,484 105,015 (6,624) 98,391 113,618 63,137 50,481 113,618 |
2020 £ 15,060 4,263 5,529 9,792 (8,624) 1,168 16,228 (14,768) 30,996 16,228 |
2020 £ 15,060 4,263 5,529 9,792 (8,624) 1,168 16,228 (14,768) 30,996 16,228 |
|---|---|---|---|
| 16,228 | |||
| (14,768) 30,996 |
|||
| 16,228 |
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006 and that the member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
Mrs V J Rogers Director Approved by the board on 15 June 2022
7
Angel Radio Limited Notes to the Accounts for the year ended 30 June 2021
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Incoming resources
All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be recovered and is reported as part of the expenditure to which it relates.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and machinery 25% reducing balance Motor vehicles 25% reducing balance
2 Tangible fixed assets
| Cost At 1 July 2020 Additions At 30 June 2021 Depreciation At 1 July 2020 Charge for the year At 30 June 2021 Net book value At 30 June 2021 At 30 June 2020 |
Land and buildings £ - - - - - - - - |
Plant and machinery etc £ 54,626 167 54,793 39,566 - 39,566 15,227 15,060 |
Motor vehicles £ - - - - - - - - |
Total £ 54,626 167 |
|---|---|---|---|---|
| 54,793 | ||||
| 39,566 - |
||||
| 39,566 | ||||
| 15,227 | ||||
| 15,060 |
8
Angel Radio Limited Notes to the Accounts for the year ended 30 June 2021
| 3 Debtors Other debtors 4 Creditors: amounts falling due within one year Bank loans and overdrafts Trade creditors Other creditors 5 Statement of funds Brought Incoming Forward Resuorces £ £ General fund (14,768) 157,011 Restricted fund 30,996 19,485 Total funds 16,228 176,496 Restricted funds The Pass It On fund was generated by a grant from NIACE. 6 Analysis of net assets between funds 2021 2021 £ £ Restricted Unrestricted Funds Funds Tangible fixed assets 15,227 - Current assets/(liabilities) - 105,015 Creditors due in one year - (6,624) At end of year 15,227 98,391 |
ne year Brought Forward £ (14,768) 30,996 |
Incoming Resuorces £ 157,011 19,485 |
2021 £ 10,531 2021 £ - 5,804 820 6,624 Resources Expended £ (79,106) - |
2020 £ 4,263 |
|---|---|---|---|---|
| 2020 £ - 947 7,677 |
||||
| 8,624 | ||||
| Carried Forward £ 63,137 50,481 |
||||
| (79,106) 2021 £ Total Funds 15,227 105,015 (6,624) 113,618 |
113,618 | |||
| 2020 £ Total Funds 15,060 34,284 (5,817) |
||||
| 43,527 |
7 Controlling party
The company is controlled by the board of directors but all major decisions are made by the current membership at regular general meetings.
9
Angel Radio Limited Notes to the Accounts for the year ended 30 June 2021
| 8 Income Unrestricted Restricted Legacies and bequests Advertising income Sales of memorabilia and CD's 9 Resources expended Costs of sales Studio costs Advertising commissions payable Restricted costs Studio costs Digital services Voiceovers Programme expenses including FM transmitter Licences Studio parts and replace Repairs and maintenance Fundraising events Fundraising expenses Administrative expenses Employee costs: Wages and salaries Travel and subsistence Website and internet costs Premises costs: Rent Rates Light and heat Cleaning |
2021 £ 176,054 19,485 - - 442 195,981 6,954 6,954 - 12,705 1,185 5,422 5,205 3,118 490 28,125 - 5,760 324 4,341 10,425 19,333 715 4,025 104 24,177 |
2020 £ 81,506 4,876 - 8,290 - |
|---|---|---|
| 94,672 | ||
| 13 2,672 |
||
| 2,685 | ||
| - | ||
| 12,274 1,273 5,533 5,476 286 - |
||
| 24,842 | ||
| - 5,760 726 4,177 |
||
| 10,663 | ||
| 12,450 182 2,790 48 |
||
| 15,470 |
10
Angel Radio Limited Notes to the Accounts for the year ended 30 June 2021
| General administrative expenses: Telephone Postage Stationery and printing Meetings Subscriptions Bank, credit card and paypal charges Bank and loan interest Insurance Reconcilation discrepancies Legal and professional costs: Bookkeeping and payroll fees Accountancy fees Legal fees Marketing Total administrative expenses |
2021 £ 3,034 313 459 175 60 428 1,546 100 6,115 2,900 410 - 3,310 44,027 |
2020 £ 3,263 220 429 37 180 997 - 1,996 - |
|---|---|---|
| 7,122 | ||
| 2,800 750 - 392 |
||
| 3,942 | ||
| 37,197 |
11