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Charity registration number SC002982 (Scotland)
Company registration number SC288686
ORKNEY WIRELESS MUSEUM
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
: ORKNEY WIRELESS MUSEUM
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LEGAL AND ADMINISTRATIVE INFORMATION
|Directors|C G Foden
JRGrieve
N
| Hewitt
E Holt|(Appointed 7 October 2025)|
|---|---|---|
||K W MacDonald||
||M
|MacDonald
P M MacDonald||
||S J Turner||
|Secretary|N |Hewitt||
|Charitynumber(Scotland)
Company number|$C002982
SC288686||
|Registeredoffice|KilnCorner
Junction Road
Kirkwall||
||Orkney
KW15 1LB||
|Independentexaminer|AJB
Scholes Ltd
8 Albert Street
Kirkwall||
||Orkney||
|Bankers|KW151HP
Royal Bank ofScotland
1 Victoria Street||
||Kirkwall
Orkney||
||KW151DP||
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ORKNEY WIRELESS MUSEUM
CONTENTS
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|Page|
|Directors’|report|1-2|
|Independent|examiner's|report|3|
|Statement of financial activities|4|
|Balance|sheet|5|
|Notes|to the financial statements|6-12|
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i ORKNEY WIRELESS MUSEUM fh DIRECTORS' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 DECEMBER 2025 The directors present their annual report and financial statements for the year ended 31 December 2025. @ financialTheThe financialstatementsstatementsandstatementsstatementsandstatementsandand havecomplybeenwithpreparedthecomplybeenwithpreparedthebeenwithpreparedthewithpreparedthepreparedthethe charity'sinin accordancearticlesarticles ofwithassociation,thewithassociation,theassociation,thethe accountingthethe Charitiespoliciespolicies andsetset outTrusteeinTrusteeinin noteInvestment1Investment11 to the (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and “Accounting and accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" 4 (effectiveReportingReporting 1 byJanuaryCharities:2019).StatementJanuaryCharities:2019).StatementCharities:2019).Statement2019).StatementStatement of Recommended Recommended Practice applicable to charities preparing their accounts in | TheObjectivescharity's andobjects activitiesarecharity's andobjects activitiesare andobjects activitiesareobjects activitiesare activitiesareare to advance and promote the education of the general public by associating voluntary organisations, local authorities and other bodies of whatever status together with the inhabitants of Orkney in a common effort to preserve the Orkney Wireless Museum. | Achievements and performance Significant activities and achievements against objectives z The museum was open on average for slightly more than six days a week during the summer months. Donations from visitors were slightly lower than in the previous years and there were no one-off donations or legacies during the year. However, total income remains at a very satisfactory level. | The major expenditure of recent years has put the Museum and the collection in good order for the future. During 2025 there was no additional expenditure above basic running costs, thus leaving a very healthy surplus. Financial review Incoming resources for the year totalled £15,244 whilst resources expended amounted to £4,441, therefore the charity's funds increased by £10,803 to £52,732 as at the year end. The balance of funds reported in these i accounts does not include the value of the charity's collection of wireless exhibits. Reserves policy It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month's expenditure. The directors consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year. i Major risks The directors have assessed the major risks to which the charity is exposed, and are satisfied that systems are in A place to mitigate exposure to the major risks. Structure, governance and management The charity is a company limited by guarantee not having a share capital, and is governed according to its i Memorandum and Articles of Association. The directors who served during the year and up to the date of signature of the financial statements were: JR Grieve i CN G| Hewitt Foden (Appointed 7 October 2025) E Holt K W MacDonald M | MacDonald P M MacDonald é S J Turner
financialTheThe financialstatementsstatementsandstatementsstatementsandstatementsandand havecomplybeenwithpreparedthecomplybeenwithpreparedthebeenwithpreparedthewithpreparedthepreparedthethe charity'sinin accordancearticlesarticles ofwithassociation,thewithassociation,theassociation,thethe accountingthethe Charitiespoliciespolicies andsetset outTrusteeinTrusteeinin noteInvestment1Investment11 to the (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and “Accounting and accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effectiveReportingReporting 1 byJanuaryCharities:2019).StatementJanuaryCharities:2019).StatementCharities:2019).Statement2019).StatementStatement of Recommended Recommended Practice applicable to charities preparing their accounts in Objectivescharity's andobjects activitiesareTheObjectivescharity's andobjects activitiesarecharity's andobjects activitiesare andobjects activitiesareobjects activitiesare activitiesareare to advance and promote the education of the general public by associating voluntary
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LU ORKNEY WIRELESS MUSEUM | DIRECTORS' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025
Recruitment and appointment of trustees
existing directors. Newly appointed directors are briefed fully on the aims and activities of the charity. Directors may be nominated by certain bodies specified in the charity's articles of association or co-opted by the None of the directors has any beneficial interest in the company. All of the directors are members of the company and guarantee to contribute £1 in the event of a winding up.
This report has been prepared in accordance with the special provisions contained within Part 15 of the Companies Act 2006 relating to small companies.
On behalf of the board of directors
E Holt
Director Date: OTNGk Ogrenicd..2.028P nL
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; ORKNEY WIRELESS MUSEUM
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INDEPENDENT EXAMINER'S REPORT
TO THE DIRECTORS OF ORKNEY WIRELESS MUSEUM
| report on the financial statements of the charity for the year ended 31 December 2025, which are set out on pagesRespective4 to 12.responsibilities of directors and examiner The directors are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. The directors consider that the audit requirement of Regulation 10(1) (a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under section 44(1) (c) of the Act and to state whether particular matters have come to my attention. Basis of independent examiner's report
My examination is carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts,2006. An examinationand seeks explanationsincludes a reviewfrom theof thetrustees accountingconcerningrecordsany keptsuch bymatters. the charityThe procedures and a comparisonundertakenof thedo not provide all the evidence that would be required in an audit, and consequently | do not express an audit me to form an opinion as to whether proper accounting records adequate for the purposes of the charity have opinionbeen kept on and the viewwhether giventhe byaccounts the accounts.of the charity| havewere carriedin outaccordance such investigationswith the accounting as wererecords. necessary to enable
In connection with my examination, no matter has come to my attention Independent examiner's statement
(a) which gives me reasonable cause to believe that in any material respect the requirements: the 2006 Accounts Regulations, and (i)(ii) | toto keepprepare accounting records accounts which inaccord accordancewith the with section accounting 44(1)records (a) and comply ofthe 2005 with Act andRegulation Regulation8 of 4 the of 2006 unts, Regulations have not been met, or financial statements to be reached. (b) to which,in my opinion, attention should be drawn in order to enable a proper understanding of the / / L Lt Ivan Hous CA Independent Examiner Chartered Accountant 8 Albert Street OrkneyKirkwall KW15 1HP Dated: __ SBIi/3/
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ORKNEY WIRELESS MUSEUM
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2025
| Unrestricted funds 2025 |
Unrestricted funds 2024 |
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|---|---|---|---|
| Notes | £ | £ | |
| Income from: Donationsandlegacies Othertrading activities Investments |
3 4 5 |
14,536 302 406 |
14,535 731 437 |
| Totalincome | 15,244 | 15,703 | |
| Expenditure on: Raisingfunds Charitable activities |
6 7 |
567 3,874 |
246 8,838 |
| Totalexpenditure | 4,441 | 9,084 | |
| Netincomeandmovement infunds | 10,803 | 6,619 | |
| Reconciliationoffunds: Fund balances at 1 January2025 |
41,929 | 35,310 | |
| Fundbalancesat31December2025 | 52,732 | 41,929 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure income and expenditure account under the Companies Act 2006. derive from continuing activities. The statement of financial activities also complies with the requirements for an
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ORKNEY WIRELESS MUSEUM
BALANCE SHEET
AS AT 31 DECEMBER 2025
| 2025 | 2024 | ||||
|---|---|---|---|---|---|
| Fixed assets Tangible assets |
Notes 1 |
£ | £ 7,684 |
£ | £ 7,844 |
| Current assets Stocks |
13 | 226 | 792 | ||
| Debtors Cashatbankandinhand |
14 | 610 44,548 45,384 |
786 32,795 34,373 |
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| Creditors:amountsfallingduewithin one year Netcurrent assets |
15 | (336) | 45,048 | (288) | 34,085 |
| Totalassetslesscurrentliabilities | 52,732 | 41,929 | |||
| Thefundsofthecharity Unrestricted funds |
16 | 52,732 | 41,929 | ||
| 52,732 | 41,929 |
2006, for the year ended 31 December 2025. The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies 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 financial statements. The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the directors on LAN& Borntick 2026eA
E Holt Director
Company registration number SC288686 (Scotland)
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ORKNEY WIRELESS MUSEUM
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025 pee ern tN APE RE A A 1 Accounting policies Charity information Orkney Wireless Museum is a private company limited by guarantee incorporated in Scotland. The registered office is Kiln Corner, Junction Road, Kirkwall, Orkney, KW15 1LB. 1.1 Accounting convention The financial statements have been prepared in accordance with the charity's articles of association, the (as amended), FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” Charities(‘“FRS 102")andandTrustth e e InvestmentCharities SORP(Scotland)"AccountingAct 2005,and Reportingthe Charitiesby AccountsCharities: Statement(Scotland) Regulationsof Recommended 2006 Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard Benefit Entity as defined by FRS 102. applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 1.2 AtGoingthe concerntime of approving the financial statements, the directors have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements. 1.3. Charitable funds Unrestricted funds are available for use at the discretion of the directors in furtherance of their charitable objectives. Designated funds comprise funds which have been set aside at the discretion of the directors for specifi¢ purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements. 1.4 Income Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in Donated facilities are included at the value to the charity where this can be quantified and a third party is bearing the cost. The value of services provided to the charity by volunteers is not recognised as income. Turnover is measured at the fair value of the consideration received or receivable and represents amounts 1.5 receivableExpenditure for goods and services provided in the normal course of business. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs relating to the category.
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ORKNEY WIRELESS MUSEUM
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& NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025
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® ee 1 Accounting policies (Continued)
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i 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of
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il depreciationDepreciation and anyis recognised impairmentso as losses. to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
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e Plant and machinery 10% straight line basis Fixtures, fittings & equipment 2% straight line basis
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E andThe gainthe ca o r rying loss arisingvalue of on the theasset, disposaland ofis anrecognised asset is determinedin the statemen as t he differenceof financial betweactiviti e s.n the sale proceeds 1.7 Heritage assets In the opinion of the directors, reliable information on cost or valuation is not available for the Museum's collection of wireless and other electronic equipment. This is owing to the lack of information on purchase cost: the lack of comparable market values: the diverse nature of the objects; and the volume of items held.
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é Exhibits which were not acquired by the charity for cash consideration are therefore not recognised in the balance sheet.
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é 4.8 AtImpairmenteach reporting of fixedend assetsdate, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication loss (if any).
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i exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment 1.9 Stocks
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4 comprisesStocks are directstatedmaterialsat the lowerand, whereof costapplicable,and estimateddirectsellinglabourpricecostslessand coststhose t o verheadscomplete thatand havesell. beenCost incurred in bringing the stocks to their present location and condition. Items held for distribution at no of
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l nominalNet realisable considerationvalue isarethe measuredestimated theselling lower ofprice replacementless all estimated cost and cost.costs of completion and costs to be incurred in marketing, selling and distribution.
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x 4.10 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown
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E within borrowings in current liabilities. 1.11 Financial instruments its financial instruments.
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E The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the
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k contractual provisionsFinancial assets and ofliabilities the instrument.are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net
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z basis or to realise the asset and settle the liability simultaneously.
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| ORKNEYWIRELESS MUSEUM | ORKNEYWIRELESS MUSEUM | |
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| b | NOTES TOTHE FINANCIALSTATEMENTS(CONTINUED) | |
| FOR | THEYEARENDED 31 DECEMBER 2025 | |
| i 1 Accounting policies (Continued) |
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Basicfinancialassets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costsand aresubsequently carried atamortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value ofthe future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. |
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| within one year are not amortised. | ||
| Debtinstruments aresubsequently carried atamortised cost, using the effective interest rate method. | ||
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Tradecreditors areobligations topayforgoodsorservices thathavebeenacquired inthe ordinarycourseof operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction priceandsubsequentlymeasuredatamortisedcostusing theeffective interestmethod. Derecognitionoffinancialliabilities Financial liabilities arederecognisedwhenthe charity's contractual obligations expire oraredischarged of cancelled. |
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| 1.12 | Taxation The charitable company is exempt from corporation tax as all its income is charitable and is applied for charitable purposes. |
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| j | 1.13 | Employee benefits The cost ofa y unused holiday entitlement is recognised in the period in which the employee's services are |
| received. | ||
| 4 | Termination benefitsarerecognised immediately asan expensewhenthecharity isdemonstrably committed to terminate theemployment ofan employee orto provide t rmination benefits. |
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| i | 2 | Criticalaccounting estimatesand judgements In the application of the charity's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factorsthatareconsidered tobe relevant. Actual resultsmay differfromthese estimates. |
| The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period ofthe revision and future periods where the revision affects both current and future |
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ORKNEY WIRELESS MUSEUM
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
3 Income from donations and legacies
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|---|---|---|---|---|---|
|Unrestrictedfunds|Unrestrictedfunds|
|2025|2024|
|£|£|
|Donations|and|gifts|14,536|14,535|
|4|Income|from|other|trading|activities|
|funds|funds|
|Unrestricted|Unrestricted|
|2025|2024|
|£|£|
|Other trading|activities|302|731|
|5|Income from investments|
|Unrestricted|Unrestricted|
|funds|funds|
|2025|2024|
|Interest|receivable|406£|437£|
|6|Expenditure on raising funds|
|Unrestricted|Unrestricted|
|funds2025|funds2024|
|£|£|
|CostsOther trading of goodsactivities sold|567|246|
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8 Directors None of the directors (or any persons connected with them) received any remuneration during the year. None were reimbursed for any personal expenses incurred. 9 Employees
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ORKNEY WIRELESS MUSEUM
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 7 Expenditure on charitable activities
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||||||||
|---|---|---|---|---|---|---|
|operationsMuseum|operationsMuseum|
|2025|2024|
|Direct|costs|£|£|
|Depreciation|and|impairment|160|160|
|Museum operations|3,|7187|4|8,|6783|8|
|AnalysisUnrestricted by fundfunds|3,874|8,838|
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Expenditure on charitable activities includes amounts charged by the independent examiner of £336 (2024: £288) for accounts preparation and independent examination services.
The average monthly number of employees during the year was: 2025 2024 Number Number Total - ;
There were no employees whose annual remuneration was more than £60,000.
- 10 Taxation
The charitable company is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.
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108999909990585
t NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
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ORKNEY WIRELESS MUSEUM
FOR THE YEAR ENDED 31 DECEMBER 2025
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|11|Tangible|fixed|assets|
|Plant|and|Fixtures,|Total|
|equipment|
|i|machinery|fittings &|
|£|£|£|
|At|1|January|2025|7,847|8,004|15,851|
|t|Cost|
|At|31|December 2025|7,847|8,004|15,851|
|i|Depreciation|and impairment|
|At|1|January 2025|7,847|160|8,007|
|i|Depreciation charged|in the year|-|160|160|
|At|31|December 2025|7,847|320|8,167|
|i|CarryingAt|31|Dece a|m|berount2025|-|7,684|7,684|
|i|At 31 December 2024|-|7,844|7,844|
|E|12|Heritage assets|
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The charity has an extensive collection of early domestic radio and wartime communications equipment. Most of the equipment was built in the UK and USA. The charity also has a collection of early advertising and posters along with an archive of photographs which depicts wartime forces and includes coverage of the building of the Churchill Barriers which were built primarily as naval defences to protect the anchorage at Scapa Flow. The charity's policy is to maintain and preserve the collection of exhibits and to add to the collection where possible, for example through voluntary donations of wireless equipment from members of the public. The charity's collection of exhibits is not recognised on the balance sheet as information on their valuation is not available and such information cannot be obtained at a cost commensurate with the benefit to the users of the accounts and the charity. 13 Stocks 2025 2024 £ £ Finished goods and goods for resale 226 792 14 Debtors 2025 2024 Amounts falling due within one year: £ £ Prepayments and accrued income 610 786 ——— —== I |
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ORKNEY WIRELESS MUSEUM
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025
15 Creditors: amounts falling due within one year
| 2025 | 2024 |
|---|---|
| 336 | 288 |
| Accrualsanddeferredincome | 336 | 288 | ||||
|---|---|---|---|---|---|---|
| 16 | Unrestricted funds | |||||
| Theunrestricted fundsofthecharitycomprisetheunexpended balancesofdonationsandgrantswhichare not subject to specific conditions by donorsand grantors as to how they may be used. These include designated fundswhich have been set aside out of unrestricted funds by the trustees for specific purposes. |
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| At 1 January 2025 |
Incoming resources |
Resources expended |
Transfers | At31 December |
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| 2025 | ||||||
| £ | £ | £ | £ | £ | ||
| General funds | 41,929 | 15,244 | (4,441) | - | 52,732 | |
| 41,929 | 15,244 | (4,441) | . | 52,732 | ||
| Previousyear: | At1 January 2024 |
Incoming resources |
Resources expend d |
Transfers | At31 December 2024 |
|
| £ | £ | £ | £ | £ | ||
| Conservation/preservation activities General funds |
- 35,310 |
- 15,703 |
(3,447) (5,637) |
3,447 (3,447) |
- 41,929 |
|
| 35,310 | 15,703 | (9,084) | . | 41,929 |
During 2024, the trustees designated £3,447 of funds specifically for the purposes of moving out of an unsuitable store and into the Museum, taking measures to preserve the reserve collection. The funds were fully expensed during 2024. 17 Related party transactions
There were no disclosable related party transactions during the year (2024: E£Nil).