Company registration number: 05328215 Charity registration number: 1138441
ANGEL RADIO LIMITED TRUSTEES' REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
KT Accountants Limited Chartered Accountants Castle Farm Barn North Denmead Road Southwick Hampshire PO17 6EX
Angel Radio Limited Contents
| Page | |
|---|---|
| Trustees' Report | 1—3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities (including Income and Expenditure Account) | 5 |
| Balance Sheet | 6—7 |
| Notes to the Financial Statements | 8—12 |
| The following pages do not form part of the statutory accounts: | |
| Detailed Statement of Financial Activities (including Income and Expenditure Account) | 13—14 |
Angel Radio Limited Company No. 05328215 Trustees' Report For The Year Ended 30 June 2025
The trustees present their report and the financial statements for the year ended 30 June 2025.
Objectives and Activities
Aims and Objectives
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.
Public Benefit
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 trustees confirm that they have complied with the requirements of Section 17 of the Charities Act 2011 to have due regard to the Charity Commission’s guidance on public benefit.
Achievements and Performance
Main Achievements
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.
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.
Trustee Selection Methods
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 in to their background.
Reference and Administrative Details
Trustees
Mr Anthony Smith Mrs Victoria Rogers (resigned 18/11/2025) Ms Jacqueline Ivemy (resigned 11/01/2025) Mr Ashley Elford (appointed 16/05/2025) Mr Steven Osgood (appointed 16/05/2025) Ms Chris Baumann (resigned 01/12/2025) Mrs Candis Jones
Page 1
Angel Radio Limited Trustees' Report (continued) For The Year Ended 30 June 2025
Mr Mark Ross Ms Olivia Gough (appointed 18/11/2025)
Charity Number 1138441
Company Number 05328215
Principal Address
21 North Street Havant Hampshire PO9 1PW
Independent Examiner
J G Vince FCA KT Accountants Limited Chartered Accountants Castle Farm Barn North Denmead Road Southwick Hampshire PO17 6EX
Page 2
Angel Radio Limited Trustees' Report (continued) For The Year Ended 30 June 2025
Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
The trustees' report was approved by the board of trustees and signed on its behalf by:
Mr Anthony Smith Trustee
27 March 2026
Page 3
Angel Radio Limited Independent Examiner's Report to the Trustees of Angel Radio Limited For The Year Ended 30 June 2025
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 June 2025.
Responsibilities and Basis 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 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
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 I am qualified to undertake the examination because I am a member of The Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
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:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. 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 (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.
J G Vince FCA 27 March 2026 Castle Farm Barn North Denmead Road Southwick Hampshire PO17 6EX
Page 4
Angel Radio Limited Statement of Financial Activities (including Income and Expenditure Account) For The Year Ended 30 June 2025
| Notes INCOME AND ENDOWMENTS FROM: Donations and legacies 3 Other trading activities 4 Investments 5 EXPENDITURE ON: Raising funds 7 NET INCOME/(EXPENDITURE) NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS: Total funds brought forward TOTAL FUNDS CARRIED FORWARD 15 The notes on pages 8 to 12 form part of these financial statements. |
2025 Unrestricted funds £ 393,994 22,322 334 |
2024 Unrestricted funds £ 102,475 30,898 15 133,388 (171,706) (38,318) (38,318) 33,387 (4,931) |
|---|---|---|
| 416,650 | ||
| (154,689) | ||
| 261,961 | ||
| 261,961 (4,931) |
||
| 257,030 | ||
Page 5
Angel Radio Limited Balance Sheet As At 30 June 2025
| Notes FIXED ASSETS Tangible Assets 12 CURRENT ASSETS Debtors 13 Cash at bank and in hand Creditors: Amounts Falling Due Within One Year 14 NET CURRENT ASSETS (LIABILITIES) TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS/(LIABILITIES) FUNDS OF THE CHARITY Unrestricted Funds TOTAL FUNDS 15 |
2025 Unrestricted funds £ 4,314 |
2024 Total funds £ 5,752 |
|---|---|---|
| 4,314 77,325 193,180 |
5,752 20,304 5,455 |
|
| 270,505 (17,789) |
25,759 (36,442 ) |
|
| 252,716 | (10,683 ) |
|
| 257,030 | (4,931 ) |
|
| 257,030 | (4,931 ) |
|
| 257,030 | (4,931) |
|
| 257,030 | (4,931) |
Page 6
Angel Radio Limited Balance Sheet (continued) As At 30 June 2025
For the year ending 30 June 2025 the charitable 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 charitable company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
On behalf of the board
Mr Anthony Smith Trustee
27 March 2026
The notes on pages 8 to 12 form part of these financial statements.
Page 7
Angel Radio Limited Notes to the Financial Statements For The Year Ended 30 June 2025
1. General Information
Angel Radio Limited is a company limited by guarantee, incorporated in England & Wales, registered number 05328215 and registered charity number 1138441. The registered office is .
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements 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 charitable company is a Public Benefit Entity as defined by FRS 102.
2.2. Incoming Resources
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.
2.3. Resources Expended
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 acruals basis and has been classified under headings that aggregate all cost srelated 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 the resources.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Reducing balance
2.5. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
3. Income from Donations and Legacies
| Donations and gifts Gift aid |
2025 Unrestricted funds £ 359,851 34,143 |
2024 Unrestricted funds £ 71,067 31,408 102,475 |
|---|---|---|
| 393,994 |
Page 8
Angel Radio Limited Notes to the Financial Statements (continued) For The Year Ended 30 June 2025
4. Income from Other Trading Activities
| Sponsorships Shop income . Investment Income Bank interest receivable . Net Income/(Expenditure) he net income/(expenditure) is stated after charging/(crediting): Bad debts Depreciation of tangible fixed assets - owned . Analysis of Expenditure Raising funds Raising funds |
2025 Unrestricted funds £ 21,742 580 |
2025 Unrestricted funds £ 21,742 580 |
2025 Unrestricted funds £ 21,742 580 |
2025 Unrestricted funds £ 21,742 580 |
2025 Unrestricted funds £ 21,742 580 |
|---|---|---|---|---|---|
| 22,322 | |||||
| Activities undertaken directly £ 92,948 |
|||||
| 2025 £ 7,176 1,438 |
|||||
| Support costs (see note8) £ 61,741 |
|||||
| Activities undertaken directly £ 100,041 |
Support costs (see note8) £ 71,665 |
5. Investment Income
6. Net Income/(Expenditure)
The net income/(expenditure) is stated after charging/(crediting):
7. Analysis of Expenditure
Page 9
Angel Radio Limited Notes to the Financial Statements (continued) For The Year Ended 30 June 2025
8. Support Costs
| Employee costs Premises expenses General administration Depreciation Employee costs Premises expenses General administration Depreciation Interest payable 9. Independent Examiner's Remuneration Independent examination of the financial statements 10. Staff Costs Staff costs were as follows: Wages and salaries Social security costs |
2025 £ 775 2025 £ 12,060 328 12,388 |
2025 Raising funds £ 13,193 29,175 17,935 1,438 |
|---|---|---|
| 61,741 | ||
| 2024 Raising funds £ 6,495 40,617 22,260 1,918 375 |
||
| 71,665 | ||
| 2024 £ 1,375 |
||
| 2024 £ 5,760 - |
||
| 5,760 |
No employees received employee benefits (excluding employer pension costs) for the reporting period of more than £60,000.
11. Average Number of Employees
Average number of employees during the year was: 1 (2024: 1)
Page 10
Angel Radio Limited Notes to the Financial Statements (continued) For The Year Ended 30 June 2025
12. Tangible Assets
| Cost As at 1 July 2024 As at 30 June 2025 Depreciation As at 1 July 2024 Provided during the period As at 30 June 2025 Net Book Value As at 30 June 2025 As at 1 July 2024 13. Debtors Due within one year Other debtors 14. Creditors: Amounts Falling Due Within One Year Trade creditors Other creditors Taxation and social security Accruals and deferred income 15. Movement in Funds Unrestricted funds General: General unrestricted fund Total funds |
As at 1 July 2024 £ (4,931) |
Income £ 416,650 |
2025 £ 77,325 2025 £ 4,007 288 1,174 12,320 17,789 Expenditure £ (154,689) |
Plant & Machinery £ 10,227 |
|
|---|---|---|---|---|---|
| 10,227 | |||||
| 4,475 1,438 |
|||||
| 5,913 | |||||
| 4,314 | |||||
| 5,752 | |||||
| 2024 £ 20,304 |
|||||
| 2024 £ 35,805 637 - - |
|||||
| 36,442 | |||||
As at 30 June 2025 £ 257,030 |
|||||
| (4,931) | 416,650 |
(154,689) |
257,030 |
Page 11
Angel Radio Limited Notes to the Financial Statements (continued) For The Year Ended 30 June 2025
| Unrestricted funds General: General unrestricted fund Total funds |
As at 1 July 2023 £ 33,387 |
Income £ 133,388 |
Expenditure £ (171,706) |
As at 30 June 2024 £ (4,931) |
|---|---|---|---|---|
| 33,387 | 133,388 |
(171,706) |
(4,931) |
16. Transactions with Trustees
The following trustees have been paid remuneration or have received other benefits from the charity or related entity:
| Name of trustee | Legal authority | Remuneration | 2025 Total |
|---|---|---|---|
| £ | £ | ||
| Mr Anthony Smith | Governing document provision | 5,960 | 5,960 |
17. Related Party Disclosures
There have been no related party transactions in the reporting period that require disclosure
18. Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
Page 12
Angel Radio Limited Detailed Statement of Financial Activities (including Income and Expenditure Account) For The Year Ended 30 June 2025
| INCOME AND ENDOWMENTS FROM: Donations and legacies Donations and gifts Gift aid Other trading activities Sponsorships and advertising Shop income Investments Bank interest receivable EXPENDITURE ON: Raising funds Purchases Advertising, marketing, direct mail and publicity Repairs, renewals and maintenance Digital services and programme expenses Royalties and licence fees payable Bad debts written off Trustees' salaries Trustees' NI Travel and subsistence expenses Rent Rates Light and heat Other premises costs Insurance Printing, postage and stationery Advertising and marketing costs Telephone Website and internet Independent examiner's fees Subscriptions Bookkeeping fees Bank charges |
2025 Total funds £ 359,851 34,143 |
|---|---|
| 393,994 21,742 580 |
|
| 22,322 334 |
|
| 334 |
Page 13
Angel Radio Limited Detailed Statement of Financial Activities (including Income and Expenditure Account) (continued) For The Year Ended 30 June 2025
| Sundry expenses Depreciation of plant and machinery Late payment tax charges NET INCOME/(EXPENDITURE) |
(35) (1,438) - |
3 (1,918) (375 ) |
|---|---|---|
| (154,689) | (171,706) |
|
| (154,689) | (171,706) |
|
| 261,961 | (38,318) |
Page 14