DocuSign Envelope ID: DF0D543A-4794-48D5-BE32-449814368D2E
REGISTERED COMPANY NUMBER: 05328215 (England and Wales) REGISTERED CHARITY NUMBER:
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 30 June 2023
for
Angel Radio Limited
KT Accountants Limited Castle Farm Barn North Denmead Road Southwick Hampshire PO17 6EX
DocuSign Envelope ID: DF0D543A-4794-48D5-BE32-449814368D2E
Angel Radio Limited
Contents of the Financial Statements for the Year Ended 30 June 2023
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 to 6 |
| Notes to the Financial Statements | 7 to 12 |
| Detailed Statement of Financial Activities | 13 to 14 |
DocuSign Envelope ID: DF0D543A-4794-48D5-BE32-449814368D2E
Angel Radio Limited
Report of the Trustees
for the Year Ended 30 June 2023
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 June 2023. The trustees have adopted the provisions of 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 (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The main object of the charity is to relieve people aged 60 and over in Hampshire who are in need, by reason of age illness, disability or other circumstances, by the provision of a nostalgia radio station.
ACHIEVEMENT 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 and is now included in over 40 licences for DAB multiplexes around the UK. In this period a new FM transmitter was acquired allowing for considerable additional coverage.
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 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 roles.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Recruitment and appointment of new 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 into their background.
Decision making
The Board of Trustees aim to meet each quarter to consider directions, key strategies and overall performance. The day to day management of the radio station is carried out by the Station Manager. Quarterly returns are produced for various regulating bodies and the Station Manager reports back to the Trustees at each quarterly meeting.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
05328215 (England and Wales)
Registered Charity number
Page 1
DocuSign Envelope ID: DF0D543A-4794-48D5-BE32-449814368D2E
Angel Radio Limited
Report of the Trustees for the Year Ended 30 June 2023
Registered office
17 Market Parade Havant Hampshire PO9 1PY
Trustees
C Baumann Director Mrs A Billingsley Director (resigned 12.2.24) Mrs J Ivemy Director Miss V J Rogers Company Director M S Ross Company Director A Smith Company Director
Company Secretary
Independent Examiner
Mrs J G Vince FCA KT Accountants Limited Castle Farm Barn North Denmead Road Southwick Hampshire PO17 6EX
Approved by order of the board of trustees on ... 27[th] March 2024............. and signed on its behalf by:
.......................................................... A Smith - Trustee
Page 2
DocuSign Envelope ID: DF0D543A-4794-48D5-BE32-449814368D2E
Independent Examiner's Report to the Trustees of Angel Radio Limited
Independent examiner's report to the trustees of Angel Radio Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 June 2023.
Responsibilities and basis of report
As the charity's 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 charity'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
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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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
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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 (FRS 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.
Mrs J G Vince FCA The Institute of Chartered Accountants in England and Wales
KT Accountants Limited Castle Farm Barn North Denmead Road Southwick Hampshire PO17 6EX
27/3/2024 Date: .............................................
Page 3
DocuSign Envelope ID: DF0D543A-4794-48D5-BE32-449814368D2E
Angel Radio Limited
Statement of Financial Activities for the Year Ended 30 June 2023
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies Other trading activities 2 Total EXPENDITURE ON Trading costs Studio costs Studio costs Administrative costs Total NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted fund £ 105,154 31,176 136,330 9,051 84,679 40,908 134,638 1,692 31,695 33,387 |
30.6.23 30.6.22 Restricted Total Total fund funds funds £ £ £ - 105,154 204,465 - 31,176 1,946 - 136,330 206,411 - 9,051 10,326 91,031 175,710 128,518 - 40,908 58,459 91,031 225,669 197,303 (91,031) (89,339) 9,108 91,031 122,726 113,618 - 33,387 122,726 |
|---|---|---|
The notes form part of these financial statements
Page 4
DocuSign Envelope ID: DF0D543A-4794-48D5-BE32-449814368D2E
Angel Radio Limited
Balance Sheet 30 June 2023
| FIXED ASSETS Notes Tangible assets 6 CURRENT ASSETS Debtors 7 Cash at bank and in hand CREDITORS Amounts falling due within one year 8 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS Unrestricted funds 9 Restricted funds TOTAL FUNDS |
Unrestricted fund £ 7,670 39,589 3,991 43,580 (17,863) 25,717 33,387 33,387 |
Restricted fund £ - - - - - - - - |
30.6.23 Total funds £ 7,670 39,589 3,991 43,580 (17,863) 25,717 33,387 33,387 33,387 - 33,387 |
30.6.22 Total funds £ 10,227 8,168 125,074 133,242 (20,743) 112,499 122,726 122,726 31,695 91,031 122,726 |
|---|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
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DocuSign Envelope ID: DF0D543A-4794-48D5-BE32-449814368D2E
Angel Radio Limited
Balance Sheet - continued
30 June 2023
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on … 27[th] March 2024 ............... and were signed on its behalf by:
............................................. A Smith - Trustee
The notes form part of these financial statements
Page 6
DocuSign Envelope ID: DF0D543A-4794-48D5-BE32-449814368D2E
Angel Radio Limited
Notes to the Financial Statements for the Year Ended 30 June 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
- Plant and machinery 25% on reducing balance
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
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DocuSign Envelope ID: DF0D543A-4794-48D5-BE32-449814368D2E
Angel Radio Limited
Notes to the Financial Statements - continued for the Year Ended 30 June 2023
2. OTHER TRADING ACTIVITIES
| Shop income Sponsorships and advertising NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets |
30.6.23 £ 3,574 27,602 31,176 30.6.23 £ 2,557 |
30.6.22 £ 1 1,945 1,946 30.6.22 £ - |
|---|---|---|
3. NET INCOME/(EXPENDITURE)
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 June 2023 nor for the year ended 30 June 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 June 2023 nor for the year ended 30 June 2022.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted fund INCOME AND ENDOWMENTS FROM £ Donations and legacies 163,915 Other trading activities 1,946 Total 165,861 EXPENDITURE ON Trading costs 10,326 Studio costs Studio costs 128,518 Administrative costs 58,459 Total 197,303 NET INCOME/(EXPENDITURE) (31,442) |
Restricted Total fund funds £ £ 40,550 204,465 - 1,946 40,550 206,411 - 10,326 - 128,518 - 58,459 - 197,303 40,550 9,108 |
|---|---|
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DocuSign Envelope ID: DF0D543A-4794-48D5-BE32-449814368D2E
Angel Radio Limited
Notes to the Financial Statements - continued for the Year Ended 30 June 2023
| 5. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
|---|---|---|---|---|
| Unrestricted | Restricted | Total | ||
| fund | fund | funds | ||
| £ | £ | £ | ||
| RECONCILIATION OF FUNDS | ||||
| Total funds brought forward | 63,137 | 50,481 | 113,618 | |
| TOTAL FUNDS CARRIED | ||||
| FORWARD | 31,695 | 91,031 | 122,726 | |
| 6. | TANGIBLE FIXED ASSETS | |||
| Plant and | ||||
| machinery | ||||
| £ | ||||
| COST | ||||
| At 1 July 2022 and 30 June 2023 | 10,227 | |||
| DEPRECIATION | ||||
| Charge for year | 2,557 | |||
| NET BOOK VALUE | ||||
| At 30 June 2023 | 7,670 | |||
| At 30 June 2022 | 10,227 | |||
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 30.6.23 | 30.6.22 | |||
| £ | £ | |||
| Other debtors | 29,516 | 8,168 | ||
| VAT | 10,073 | - | ||
| 39,589 | 8,168 |
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DocuSign Envelope ID: DF0D543A-4794-48D5-BE32-449814368D2E
Angel Radio Limited
Notes to the Financial Statements - continued for the Year Ended 30 June 2023
| 8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Other creditors 9. MOVEMENT IN FUNDS At 1.7.22 £ Unrestricted funds General fund 31,695 Restricted funds Restricted funds 91,031 TOTAL FUNDS 122,726 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 136,330 Restricted funds Restricted funds - TOTAL FUNDS 136,330 |
30.6.23 £ 9,346 8,517 17,863 Net movement in funds £ 1,692 (91,031) (89,339) Resources expended £ (134,638) (91,031) (225,669) |
|
|---|---|---|
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DocuSign Envelope ID: DF0D543A-4794-48D5-BE32-449814368D2E
Angel Radio Limited
Notes to the Financial Statements - continued for the Year Ended 30 June 2023
9. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net movement At 1.7.21 in funds £ £ Unrestricted funds General fund 63,137 (31,442) Restricted funds Restricted funds 50,481 40,550 TOTAL FUNDS 113,618 9,108 Comparative net movement in funds, included in the above are as follows: Incoming resources Resources expended £ £ Unrestricted funds General fund 165,861 (197,303) Restricted funds Restricted funds 40,550 - TOTAL FUNDS 206,411 (197,303) A current year 12 months and prior year 12 months combined position is as follows: Net movement At 1.7.21 in funds £ £ Unrestricted funds General fund 63,137 (29,750) Restricted funds Restricted funds 50,481 (50,481) TOTAL FUNDS 113,618 (80,231) |
At 30.6.22 £ 31,695 91,031 122,726 Movement in funds £ (31,442) 40,550 9,108 At 30.6.23 £ 33,387 - 33,387 |
|---|---|
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DocuSign Envelope ID: DF0D543A-4794-48D5-BE32-449814368D2E
Angel Radio Limited
Notes to the Financial Statements - continued for the Year Ended 30 June 2023
9. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Restricted funds TOTAL FUNDS |
Incoming resources £ 302,191 40,550 342,741 |
Resources expended £ (331,941) (91,031) (422,972) |
Movement in funds £ (29,750) (50,481) (80,231) |
|---|---|---|---|
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 June 2023.
Page 12
DocuSign Envelope ID: DF0D543A-4794-48D5-BE32-449814368D2E
Angel Radio Limited
| Detailed Statement of Financial Activities for the Year Ended 30 June 2023 INCOME AND ENDOWMENTS Donations and legacies Gifts Donations Gift aid Other trading activities Shop income Sponsorships and advertising Total incoming resources EXPENDITURE Trading costs Purchases Advertising commissions Studio costs Digital services Voiceovers Programme expenses including FM transmitter Licences Studio parts Repairs and maintenance Studio refurbishment Administrative costs Wages Travel and subsistence Website and internet costs Rent Rates Carried forward |
30.6.23 £ 2 82,943 22,209 105,154 3,574 27,602 31,176 136,330 611 8,440 9,051 96,149 748 46,275 5,573 2,587 599 6,416 158,347 5,760 123 7,114 18,176 305 31,478 |
30.6.22 £ - 204,465 - 204,465 1 1,945 1,946 206,411 - 10,326 10,326 64,001 716 26,043 5,063 12,354 581 19,760 128,518 5,760 606 5,365 25,719 477 37,927 |
|---|---|---|
This page does not form part of the statutory financial statements
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DocuSign Envelope ID: DF0D543A-4794-48D5-BE32-449814368D2E
Angel Radio Limited
| Detailed Statement of Financial Activities for the Year Ended 30 June 2023 Administrative costs Brought forward Light and heat Support costs Management Insurance Telephone Postage and stationery Meetings Subscriptions Depreciation of tangible and heritage assets Finance Bank charges Governance costs Legal fees Bookkeeping and payroll fees Accountancy and legal fees Total resources expended Net (expenditure)/income |
30.6.23 £ 30.6.22 £ 31,478 37,927 10,080 3,798 41,558 41,725 4,205 3,803 4,622 6,315 364 423 478 418 156 130 2,557 - 12,382 11,089 483 604 - 321 3,098 4,120 750 600 3,848 5,041 225,669 197,303 (89,339) 9,108 |
|---|---|
This page does not form part of the statutory financial statements
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