Registered number 05328215 Charity number 1138441
Angel Radio Limited (A company limited by guarantee)
Accounts
30 June 2022
**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 2022.
## **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 2022**
|**Notes**
**Incoming resources**
7
Legacies and donations
Advertising income
Sales of memorabilia
**Total incoming resources**
**Resources expended**
8
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 2021
Total funds at 30 June 2022|**2022**
**£**
**Restricted**
**Funds**
40,550
-
-
40,550
-
-
-
-
-
-
40,550
-
40,550
50,481
91,031|**2022**
**£**
**Unrestricted**
**Funds**
163,915
1,945
1
165,861|**2022**
**£**
**Total**
**Funds**
204,465
1,945
1
206,411
(10,326)
-
(128,518)
-
(58,459)
(197,303)
-
-
9,108
-
9,108
113,618
122,726|**2021**
**£**
**Total**
**Funds**
176,054
-
442|
|---|---|---|---|---|
|||||176,496|
|||(10,326)
-
(128,518)
-
(58,459)
(197,303)
(31,442)
-
(31,442)
63,137
31,695||(6,954)
-
(28,125)
-
(44,027)|
|||||(79,106)|
|||||97,390
-|
|||||97,390
16,228|
|||||113,618|
6
## **Angel Radio Limited Balance Sheet as at 30 June 2022**
|**Notes**
**Fixed assets**
Tangible assets
**Current assets**
Debtors
2
Cash at bank and in hand
**Creditors: amounts falling due**
**within one year**
3
**Net current assets**
**Net assets**
**Charity funds**
4
General fund
Restricted funds
**Total funds**|**2022**
**£**
10,227
8,168
125,074
133,242
(20,743)
112,499
122,726
31,695
91,031
122,726|**2021**
**£**
15,227
10,531
94,484
105,015
(6,624)
98,391
113,618
63,137
50,481
113,618|**2021**
**£**
15,227
10,531
94,484
105,015
(6,624)
98,391
113,618
63,137
50,481
113,618|
|---|---|---|---|
|||||
||||113,618|
||||63,137
50,481|
||||113,618|
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 2022**
## **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 Motor vehicles
25% reducing balance 25% reducing balance
8
**Angel Radio Limited Notes to the Accounts for the year ended 30 June 2022**
|**2**
**Debtors**
VAT
Other debtors
**3**
**Creditors: amounts falling due within o**
Trade creditors
Other creditors
**4**
**Statement of funds**
General fund
Restricted fund
**Total funds**|**ne year**
**Brought**
**Forward**
**£**
63,137
50,481|**Incoming**
**Resuorces**
**£**
165,861
40,550|**2022**
**£**
-
8,168
**2022**
**£**
1,741
19,002
20,743
**Resources**
**Expended**
**£**
(197,303)
-|**2021**
**£**
-
10,531|
|---|---|---|---|---|
|||||**2021**
**£**
5,804
820|
|||||6,624|
|||||**Carried**
**Forward**
**£**
31,695
91,031|
||113,618|206,411|(197,303)|122,726|
## **Restricted funds**
The Pass It On fund was generated by a grant from NIACE.
|**5**
**Analysis of net assets between funds**
Tangible fixed assets
Current assets/(liabilities)
Creditors due in one year
**At end of year**|**2022**
**£**
**Restricted**
**Funds**
-
-
-
-|**2022**
**£**
**Unrestricted**
**Funds**
10,227
133,242
(20,743)
122,726|**2022**
**£**
**Total**
**Funds**
10,227
133,242
(20,743)
122,726|**2021**
**£**
**Total**
**Funds**
15,227
105,015
(6,624)|
|---|---|---|---|---|
|||||113,618|
## **6 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 2022**
|**7 Income**
Unrestricted
Restricted
Advertising income
Investment income
Sales of memorabilia and CD's
**8 Resources expended**
**Costs of sales**
Advertising commissions payable
**Restricted costs**
**Studio costs**
Digital services
Voiceovers
Programme expenses including FM transmitter
Licences
Studio parts and replace
Repairs and maintenance
Studio refurbishment
**Administrative expenses**
Employee costs:
Wages and salaries
Travel and subsistence
Website and internet costs
Premises costs:
Rent
Rates
Light and heat
Cleaning|**2022**
**£**
163,915
40,550
1,945
1
206,411
9,393
10,326
-
64,001
716
26,043
5,063
12,354
581
19,760
128,518
5,760
606
5,365
11,731
25,719
477
3,719
79
29,994|**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|
10
**Angel Radio Limited Notes to the Accounts for the year ended 30 June 2022**
|General administrative expenses:
Telephone and internet
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
Total administrative expenses|**2022**
**£**
6,315
196
227
418
130
604
3,803
-
11,693
4,120
600
321
5,041
58,459|**2021**
**£**
3,034
313
459
175
60
428
1,546
100|
|---|---|---|
|||6,115|
|||2,900
-
410|
|||3,310|
||||
|||44,027|
11