Docuslgn Envelope ID.. 6175EED9-A268469D-878F-E091138432DD Company No. 03439305 Charity No. SC039016 Assoclation of Marlne Electronic & Radlo Colleges Limited {a reglstered charlty and a company Ilmited by guarantee) Report and Financial Statements For the year ended 31 December 2025 Docuslgn Envelope ID.. 6175EED9-A268469D-878F-E091138432DD ASSOCIATION OF MARINE ELECTRONIC & RADIO COLLEGES LIMITED IA company limlted by guarantee) Reports and financial statements for the year ended 31 December 2025 Contents Page.. Company informatlon Trustees. report Independent examlner's report Statement of financ3al activities Balance sheet Notes to the flnancial statements 8- 13 The following pages do not forn part of the statutory financial statements Details of income and expenditure 14-15 Docuslgn Envelope ID.. 6175EED9-A268469D-878F-E091138432DD ASSOCIATION OF MARINE ELECTRONIC & RADIO COLLEGES LIMITED IA company Ilmlted by guaranleel Reference and administrative Infomati(ffi for the year ended 31 December 2025 DIRECTORS and TRUSTEES P Martin S Howard J Cartwright (Trustee onlyi J West T Slack (Resigned April 20251 R Robertson A Banerjee REGISTERED OFFICE MHA Kendal House Murley Moss Business Village Oxenholme Road Kendal Cumbria LA9 7RL ACCOUNTANTS MHA Kendal House Murley M05s Business Viltage Oxenholme Road Kendal Cumbria LA9 7RL CHARITY NO. SC039016 COMPANY NO. 03439305 Docuslgn Envelope ID.. 6175EED9-A268469D-878F-E091138432DD ASSOCIATION OF MARINE ELECTRONIC & RADIO COLLEGES LIMITED IA company limited by guarantee) TrtJ5tees' report The Trustees present thelr report of the charity for the year ended 31 December 2025 which are also prepared to meet the requirements for a directors, report and accounts for Companies Act purposes. The trustees have adopted the provisions of the Statement of Recommended Practlce ISORPI "Accounting and Reporting by Charftie5" IFRS 1021 IN preparin4 the annual reporl and financial statements of the charity. The flnancial statements have been prepared in accordance with the accounting policies set out In notes to the accounts and comply with the tharity's governlng document, thè Charities Act 2011 and AccountiThg and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparlng their accounts In accordance with the Flnancial Reporting Standard appllcable in the UK and Republic of Ireland publlshed in October 2019 and in accordance with the special provisions for small companies under Part 15 of the Cotnpanies Acl 2006. DIRECTORS and TRUSTEES The directors in the year were as follows'.- P Martin S Howard J West T Slack (Resigned April 20251 R Robertson A Banerjee J Cartwright (Trustee only) As set out In the articles of association and the revised rules of the association 120091 at each annual general rneetlng one Lhird of the dlrectors retlre by rotation. OBJECTIVES AND ACTIVITIES The corllpany is a charlty, the objects of which are the advancement of public education and tralning in the fields of marine radio, electronics, telecommunications, radar, and electronic navigational systems. The Trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when re%lewlng the aims and objectives and in planning our future actiwtie5, ACHIEVEMENTS AND PERFORMANCE Full Members total nil 12024: 231 and Associate Alembers nil 12024.. 111. There were no membership fees in 2025 as the MCA (Maritime and Coastguard Agency) took all exam activilies, including auditin8, In-house. The centres, therefore, from May 2025 reported directly to the MCA. Income from the Global Maritime Distress and Safety System IGMDSSI examinatlons ceased irn May 2025. Direct charitable expenditure accounted for 93% of incoming resources 189.5% In 20241. Overall expenditure represented 122.5% of income resources 1103.5% in 20241. Costs in 2025 included redundancy amounting to £17,500. Docuslgn Envelope ID.. 6175EED9-A268469D-878F-E091138432DD ASSOCIATION OF MARINE ELECTRONIC & RADIO COLLEGES LIMITED IA company limlted by guaranleel Trustees, report Icontinued) ACHIEVEMENTS AND PERFORMANCE Icontlnuedl The Executive Cotllmittee met in February, Mayi August and December 2025 via Zoom. The AGM and Ihe Executive Committee met In Newcastle in Aprfl 2025. All Execulive C(Hnmittee meetings dealt with Items relating lo the operation of the tompany. The Maritime Consultation Grow) IMCGI which sat as an Open Session of the Executive C(mmlttee held it5 last meeting in April 2025. The Executive Open Session ieceived reports from the Chlef Examiner and had overall responsibility for the examination QA system. FUTURE OEVELOPMENTS The majority of our income stream was generated by activities we carried out on behalf of the Maritime and Coastguard Agency IMCAI. The MCA took these actlvltles In-house mid-may 2025, therefore, reducing our income stream considerably. Unfortunately, it has been decided, after consideration and looking at many other opportunities, that wè canNot as an organisatlon continue to operate and reluctantly we Thust close our organi5ation In 2026 once all our investments mature. FINANCIAL REVIEW - RESERVES POLICY The Association requlres financial reseNes for three purposes: to be able to fund the start-up or operati{￿al costs for any project that could ot be supported out of annual income. to allow the Association to continue its charitable acliiqtie5 by providing a level of investment Income that will partly compensate for the anticipated decrease in future incorne expected from its GMDSS examination Services; Ill. to provide a contingency fund that will enable the Association lo cary out any exceptlonal cost-bearing actions associated with its examination setvice quality assurance responsibilities. The level of reserves required for the Assoclarlon to meet its obligations under paragraph 1. above is circa £300k. Circa £250k will be held on long-term deposit or invested to produce an investmellt income Isee 1.11. above). Circa £50k wll be held on short-term deposit to allow any annual expenditure required for actiwties under 1.1. and 1.111. Free reseThes at the year end were É269,77612024: £301,488). The Association will prudently control Its revenue expendlture In order to ens(1￿ an annual operating surplus can be maintained If possible. Thi5 wll be achieved by setting a phased income and expenditure budget before the beginning of the financial year and monitoring the revenue budget and predicted surplus at quarterly meetings of the Board of Directors. In the event of no other major incorTie generatlng activity beiwig forthcominsj which is currently belng provided throltgh its examination seThices, the Association intends uslng Its investment income to supplement other minor forms of income in order to continue with its charitable activities. Thls pollcy will be reviewed annually and any proposals for change discussed and approved at the annual general meeting. For cost saving and environmental reasons all meetings except for the Ap￿[ meeting and AGM were held via Zoorn in 2025. Docuslgn Envelope ID.. 6175EED9-A268469D-878F-E091138432DD ASSOCIATION OF MARINE ELECTRONIC & RADIO COLLEGES LIMITED IA company Ilmited by guarantee) Trustees, report (continuedj STRUCTURE GOVERNANCE AND MANAGEMENT Status of the company The company is a registered charlty, number 1071872, and is Ilmited by guarantee, and govemed by il5 memorandutn and articles of asscKiation. Recruitment and appointmerTrt of new dlwtors The Trustees are appointed by the Board of Trustees and serve until they reslgn or retire. The Trustees ensLJre that new Trustees have the necessary skills to contribute to the Charity's management and development. Risk assessment The Trustees have assessed the major risks to which the company is exposed, in particular those related to the operations and finances of the con)pany, and are satisfied that systems are in place to mitigate the company's exposure to the major risks. TRUSTEES, RESPONSIBILrriES The directors (who are also trustees of AssocTation of Marine Electronic & Radio Colleges Llmlted for the purposes of charity lawl are responsible for preparing the D1￿Ctors, Report and the financial statements in accordance with appllcable law and Unlted KTngdom Accounting Standards (United Klr)gdom Generally Accepted Accounting Practlcel. Company law requires the directors to prepare financial statements for each financial year, whkh give a true and fair wew of the state of affairs of the charitable cornpany and of the incorning resourtes and appllcation of resources, including the income and expenditure, of the charitable c(Nnpany for the year. In preparing these financlal statement%, directors are required to.. select suitable accounting policles and apply them consistentlyj observe the method5 and principles in the Charities SORP 2019 IFRS 1021, make judgements and estimates that are reasonable and prudent. state whether applicable UK Accounting Standards have been followed, subject to any material departures distlosed and explained in the financial statements. prepare the financial statements on the going concern basis unless It is inapproprlate to presume that the charitable company will cmtlnue to operate. The direclors are reswnsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charltable company and enable them to ensure that the financial staiemenls comply wth the Companies Act 2006. They are also responsible for safeguarding the assets of the charftable company and hence for taklng reasonable steps for the prevention and detection of fraud and other irregularities. By order of the boa P Martln Dlrector Date.. l/tfv Docuslgn Envelope ID.. 6175EED9-A268469D-878F-E091138432DD ASSOCIATION OF MARINE ELECTRONIC & RADIO COLLEGES LIMITED IA company lin)ited by guarantee) Independent Examiner's Report to the Directors of Associatlon of Marine Electronic & Radio Colleges Limited I report to the charity trustees on my examination of the accounts of the company ftsr the year ended 31 December 2025 which are Set ￿t on pages 6 to 13. Responsibilities and basis of report The charliy's trustees (who are also the directors of the company for the purposes of company lawl are responsible for the preparation of the accounts In accordance with the terms of the Charitie5 and Trustee Investment Iscotlandl Act 2005 and the Charities Accounts (Scotlandl Regulations 2006. The charity trustees consider that the audit requirement of Regulation 10111 lal to Icl of the Accounts Reguiatlons does not apply. It is my responsiblllty to examine the accounts as required under section 44111 Icl of the Act and to state whether particular matters have come to my attention. My examination is carried out in accordance ￿th Regulatlon 11 of the 2006 Accounts Regulations. An examination includes a review of the accounting records kept by the charity and a comparison of the aicounts presented wlth those records. It also Includes conslderation of any unusual iterns or disclosures in the accounts, and seeks explanations from the trustees concerning any such matters. The procedL*re5 undertaken do not prowde all the eiridence that would be required in an audit, and consequently I do not express an audlt opinion on the view given by the accounts. Independent examlner's Statement In the course of my examination, no matter has Con￿ lo my attention.. 1. which gives me reasonable cause to believe that in any material respect the requiretnents: to keep accounting records in accordance wth Section 44111 lal of the 2005 Aci and Regulation 4 of the 2006 Accounts Regulations,. and to prepare accounts which accord wlth the accounting records and corrply wth Regulatic 8 of the 2(KJ6 Accounts Regulations. have not been met. or 2. lo which, in my opinion, attention should be drawn in order to enable a prcper understanding of the accounts to be reached. Rr Kendal House Murley Moss Business Village Oxenholme Road Jack Steer BAIHonsl FCA Independent Examiner MHA Kendal Cumbria LA9 7RL Date: April 15, 2026 Docuslgn Envelope ID.. 6175EED9-A268469D-878F-E091138432DD ASSOCIATION OF ￿￿RINE ELECTRONIC & RADIO COLLEGES UMITED IA company Ilmited by guarantee) Statement of financ5al activities Ilncluding Income and expenditure account) for the year ended 31 December 2025 Unrestrlcted funds 2025 Note 2024 Income and endowments from: Charitable Activities.. Direct Subscrfptlons Examination Fees Other Examination SeNices Investments 7,860 294,321 3,458 13,583 121,687 8,739 10,631 Total income and endowrnents 141,057 319,222 Expenditure on.. Charitable actlNltle5'. Dlrect examination expen(iiture Volunteer services Travel and accommodation Administralive expenses 94,927 19,364 17,161 41,317 233,046 36,063 15,173 44,649 Total Expendlture 172,769 328,931 Net movement In funds 131,7121 19,7091 Reconciliation of Funds: Unrestricted funds balance brought forward 301,488 111,197 Unrestricted funds balance carried forward 269,776 301,488 All amwnts relate to di5contlnuing activities. Thère were llo recogn15ed gains or losses other than those included in the statement of flnancial actiwties. The statemerit of financial actlvlties fomis the incrme and expenditure account of the company. The notes on pages 8 to 13 form part of these firbancial statements. Docuslgn Envelope ID.. 6175EED9-A268469D-878F-E091138432DD ASSOCIATION OF MARINE ELECTRONIC a RADIO COLLEGES LIMITED IA Company limited by guarantee) Balance Sheet as at 31 December 2025 Note 2025 2024 Current assets Debtors Cash at bank and in hand 10,811 293,046 272,276 272,276 303,857 Creditors Amounts falllng due within one year 12,5001 12,3691 Net current assets 269,776 301,488 Total assets less current Ilabilities 269,776 301,488 Funds of the charity.. ResepR5 - Unrestricted funds 269,776 301,488 For the year ending 31 December 2025 the companywas entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance ￿th section 476 of the Companies Act 2006. The dlrectors acknowledge their responsibility for complying with the requirements of the Act wit respect to accountlng record5 and for the preparation of accounts. These accounts have been prepared in accordance with the provlsions applicable to companles subject to the small cotnpanies regitne. Approved by the Bo of Dlr to 914/2026 .and signed on their behalf by: P Martln Director Company Registration Number: 03439305 The rK>tes on pages 8 to 13 forrn part of these financial staternents. Docuslgn Envelope ID.. 6175EED9-A268469D-878F-E091138432DD ASSOCIATION OF ￿lRINE ELECTRONIC & RADIO COLLEGES LIMITED IA cornpany Ilmited by guarantee) Notes formlng part of the financlal statements for the year ended 31 December 2025 ACCOUNTING POLICIES Company information Associarion of Martne Electmnk & Radio Colleges Limited is a company limited by guarantee incorporated in England and Wales. The registered office Is MHA, Kendal House, Murley Moss Buslness Village, OKenhoime Road, Kendal, Cumbr?a. LA9 7RL Basis of Accounting The financial statements have been prepared in accordance with Accounting and Reporting by Charitles.- Statement of Recommended Practice applicable to charltles preparing their accounts In accordance with the Flnancial Reporting Standard applicable in the UK and Republlc of Ireland IFR510211i5sued October 20191-ICharities SORP IFR510211, and the Companies Act 2006. Association of Marine Electronic & Radio Colleges Limited meets the definltlon of a public entlty under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notelsl. The flnanclal statements are prepared in sterLing> which Is the functional currency of the company. Monelary amounts in these financial staternents are rounded to the nearest £. Fund accounting Unrestrlcted funds are available for use at the discretion of the Trustees in furtherance of general objectives of the charity. Incorne All incowing resources are Included in the Statement of Financial Actlvities when ihe charity Is legally entitled to the income, it Is probable it ￿11 be rece5ved and the amount can be measured rellably. The following specific polides are applied to particular categories of income.. lal Inccrfne represents gross examinatlon fee5, direct subscript1￿$ due for the year and Income from other charitable actlvities. Ibl Investment income Is Intluded when receivable. Expenditure Expenditure Is recognised onte there is a legal or constructive obllgation to make a payment to a third party> It is probable that settlement will be required arnd the arnount of the obligatlon can be measured reliably. Charitable expenses Include.. all expenses incurred in carrying otjt examinations - administration and issuing of certificates, maintainlng quality control and dls5eMinatinq appropriate Information,. all expenses incurred in contrlbuting to the development of national education programmes for the telecommunications Indu5tryi encouraging new enlrants into the indu5lry and dissemlnaiing appropriate information. All expenditure is accounted for on an accruals basis. Administrative expenses are the costs of general running of the company not directly attributable to the above. Docuslgn Envelope ID.. 6175EED9-A268469D-878F-E091138432DD ASSOCIATION OF MARINE ELECTRONIC & RADIO COLLEGES LIMITED IA company limited by guarantee) Notes fortnlng part of the financial statements for the year ended 31 December 2025(Continued) ACCOUNTING POLICIES Icontlnuedl Expenditure Icontlnuedl Irrecoverable VAT Is charged as a cost against the activity for which the expenditure wa5 Incurred. Where costs cannot be directly attributed to particular headings they have been allocated on a basis c(A)slstent with the use of the resource5. Investment Income Investment income represents the interest earned on the investment of temporary surpLus funds placed on deposil, and is included in the accounts when recelvable. Foreign currency translatlon Transactions in foreign currenties are recorded at the rate ruling at the date of the transaction. All differences are taken to the Statement of Financial Activitie5. Debtors and creditors receivablelpayable within one year Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arisin8 from impairment are recognised in expenditure. Cash at baTrk and In hand Cash ai bank and cash in hand includes cash and short term highly liwid investments with a short maturity of three months or less from the date of acquisition or opening of Ihe deposit or similar account. Flnancial Instruments The charity only has flnancial assets and financlal liabilities of a kind that qualify as basic financial Instrument5. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value wlth the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. Golng concern The financial statements have been prepared on a golng concern basis. As disclosed In the Trustees, Annual Report under Future Developments, the trustees have indicated their intention to wind down the activities of the charity and, in accordance with the charily's trusi deed, distribute Its remaining assets to appropriate beneficiarie5. The trustees have reviewed the charity's financial position, including its available reseNes and expected exwnditure, and are salisfied that the charity has sufficient resources to contlnue its operations and meet ils liabilities as they fall due for the foreseeable future. Al the date of approval of these financial statement5, the precise tlmlng of the w1nd-do￿ has not yet been determined and it fs uncertaln vA)ether this will occur wthin the next 12 months or over a longer perlod. Accordingly, the trustees consider it appr¢Jpriate to prepare the financial statements on the going concern basi5. Docuslgn Envelope ID.. 6175EED9-A268469D-878F-E091138432DD ASSOCIATION OF MARINE ELECTRONIC & RADIO COLLEGES LIMITED IA company Ilmited by guarantee) Notes formlng part of the financlal statements for the year ended 31 December 2025 (Contlnued) ACCOUNTING POLICIES Icontinuedl Judgements and key sources of estimation uncertainty In the application of the charity's accounting poiicles, the Trustees are required to make judgement5, estimates and assumptions about the carrying arllounl of assets and Ilabilities that are not readily apparent from other sources. The estlmates and associated assumptions are based on historical experience and other factors thal are considered to be relevant. Actual results may dlffer from these estimates. The estimates and underlylng assumptlons are revlewed on an ongoing basis. Revisions to accounting estimates ère recosnlsed in the period in whlch the estimate is revised where the revision affects only that period, or in the period of the revislon and future periods where the revision affects both currenl and future perlods. Key assumptions, Judgements and estimates In the oplnion of the Trustees, there have been no significant judgements (apart from those Involving estimates) made in the process of applying the above accountlng policies. There have been no key assumptions concerning future and other key sources of estimation uncertainty at the reportlng date that have a significant risk of causing a material adjustment to the carrying amount5 of assets and liabilltles wthin the next financial year. INVESTMENT INCOME 2025 2024 Bank and Building Soclety Inte￿$t 10,631 13,583 All income in the pyior year was unrestricted. RESOURCES EXPENDED Offlce Holder Costs Other C05t5 Total 2025 Total 2024 Direct examination expenditure Volunteer seThqces - non-dlrectors Travel and accommodation Administratlve expenses 94,927 19,364 17,161 17,155 94,927 233,046 19,364 36,063 17,161 15,173 41,317 44,649 24,162 24,162 148,607 172,769 328,931 All expendlture in the prior year wa5 unrestricted. 10 Docuslgn Envelope ID.. 6175EED9-A268469D-878F-E091138432DD ASSOCIATION OF MARINE ELECTRONIC & RADIO COLLEGES LIMITED IA company limited by guarantee) Noles formlng part of the financial statetnents for the year ended 31 December 2025 (Continuedj INFORMATION 014 DIRECTORS AND TRUSTEES None of the directors or Trustees recelved payments for volunteer seryices during the year12024: Enill. A Trustee received a payment of C1,500 for additional admin1stration work unrelated to their role as Trustee. STAFF NUMBERS AND COSTS The total wages and salaries costs were as follows.. 2025 2024 Wages and salaries Pension contributions Redundancy 6,227 435 17,500 14,944 448 24,162 15,392 The company had 1 employee in 2025 (until 31 May 2025112024.11. This employee was primarily involved in management and administration of the charity. No employee was paid more than 160,1¥)O In the year12024'. nill. Total redundancyltermination payment5 amount lo £17,500 12024.. £0) and related to the closure of the charity. All expenditure in the prior year was unrestricted. DEBTORS: Due within one year 2025 2024 Prepayments ané other debtors 10,811 10,811 CREDITORS: Amounts falling due wthin one year 2025 2024 Other creditors PAYE and Nl 1,500 2.226 143 2,500 2,369 Docuslgn Envelope ID.. 6175EED9-A268469D-878F-E091138432DD ASSOCIATION OF MARINE ELECTRONIC ft RAOIO COLLEGES LIMITED IA company limited by guarantee) Notes fomilng part of the financial statements for the year ended 31 Decernt)er 2025 (Contlnuedj DEFERRED INCOME Deferred income cornprlses of advance membership fees. 2025 2024 Balance at 1 January Amour)t released to income earned from charltable actlvltles Balance at 31 December 7,980 17,9801 RELATED PARTY DISCLOSURES Transactions Travel and accommodation expense5 relatlng to 6 directors and 1 trustee only for 202512024: 6 dlrectors and I trustee only) amounted to £1,589 L)irector$12024 £5,584) and £346 Trusteè12024.' £1,257). LIABILITY OF MEMBERS Every member of the company undertake5 to contribute such amount as may be required Inot exceeding £101 to the company's asset5 if it should be wound up whlle he ot she 15 a member or wlthin one year after he or she ceases to be a member, for payment of the company'5 debts and liabillties contracted before he or she ceases to be a member, and of the co$15, charges and expenses of windlng Upi and for the adjustment of the righis of the contributlons among themselves. 10 TAXATION As a charityj the Assoc?atlon of Marine Electronk and Radlo Colleges Lirnited is exempl from tax on income and gains falling vrithin section5 472-474 of the Corporation Tax Act 2010, sections 478 489 of the Corporation Tax Act 2010, or section 256 of the Taxatlon of Chargeable Galn5 Act 1992 to the extent that these are applled to Its charitable objects. No Eax charges have arisen i the Charity. 11 CONTROL There Is no single controlling party of the charlty for the current or prewous year. 12 Docuslgn Envelope ID.. 6175EED9-A268469D-878F-E091138432DD ASSOCIATION OF MARINE ELECTRONIC & RADIO COLLEGES LIMITED IA company limited by guaranleel Admlnlstrative expense5 for the year ended 31 December 2025 2025 2024 ADMINISTRATIVE EXPENSES Volunteer services Pensioll Redundancy Support se￿ceS Telephone and Post Printing and Stationery Travelling expense5 Legal and professional fees Accounting fees and software Bank charges Insurance Cornputer Support Web Site Donations 6,227 435 17,500 2,280 250 49 5,860 180 3,004 2,116 2,722 14,944 448 168 6,214 162 2,180 959 3,393 281 900 15,000 694 41,317 44,649 All expenditure In the prfor year was unrestricted.