REGISTERED CHARITY NUMBER: SC048177 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 FOR GLAD RADIO SCIO Am)strong Watson LLP Caledonia House 89 Seaward Street Glasgow G41 IHJ
GLAD RADIO SCIO CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Page Report of the Trustees Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 7 to 12
GLAD RADIO SCIO REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 The trustees present their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of Accounling and Reporting by Charities: SLqtement of Recommended Practice applicable to charities preparing their account5 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019). OBJECTIVES AND ACTIVITIES Objectives and aims Glad Radio SCIO is set to provide people across the Southside of Glasgow .-1th a creative outlet. a learning experience, and a community hub. It will take the forni of an ever-expanding bank of podcasts that document, promote ai)d give voice to the Southside of Glasgow in all its diversity. We will 'ork creativelv 1th community groups, individua15, businesses, social enterprises, charities, schools, colleges, artists: musicians and interest groups. All podcasts will be available online for anyone anywhere to hear at any time. The organisation's purposes are: l. The advancement of education. 2. The advancement of citizenship or community development through the 5UPPOrt of service Provision within the local area. 3. The advancement of the arts, heritage, culture or science. ACHIEVEMENTS AND PERFORMANCE Charitable actiTr'itie5 During the year 2024-2025 we continued the work of Glad Radio SCIO on a modest level. Southside Chronicles continued to cover local history. Dining Tales looked at Glasgow's restaurant trade. Untold Lives examined drug addiction. Ei'erybody Wants To Pla). the Hits continued to document the local music scene. Battlefield Writers provided an outlet for local authors and poets. We began a personal explordtioTJ into epilepsy with Wilness The Fitness. We filmed a further episode of our video series Music Haul in Glad Rags thrift store. We began working with n his regular show DJ Brown in da House. which provides a model for how we can work with people with disabilities, unleashing their passions and giving them ownership over their creative work. The fomier fir%t minister -ame into the 8tudio to be intenfieived for our Souihside Democracy podcast, as did f the Scottish Greens aiid local MP We began to use the Deep End's eveni space for music events. iyith two shows in September and one in November. These demonstrated the potential to run relatively inexpensive events: to bring audiences into a unique arts space, to make sorne money from refreshments, and to pay the artists. e recorded funher concert sets at the Glad Cafe. The band CLR theory released an EP of a concert set we previously recorded. Fundraising activities A team of three completed the KiltwalL raising funds for Glad Radio SCIO. A grant was received to develop our local history content in Pollokshield5. However funding that can sustain us and allow us to build remains elusive. The goal is to move Glad Radio SCIO onto a more professional footing, where a paid staff member would be able to c(Fordinate and move us forward. FINANCIAL REVIEW Financial posilion The Statement of Financial Activities show a net deficit for the year of £1,115 (2024- £3,486). At 31 March 2025, the charity had net assets of £7,570 (2024= £8,685). consisting of unrestricted funds of £7,048 (2024.. £4,492} and restricted funds of £522 {2024'. £4,393). Page I
GLAD RADIO SCIO REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 FINANCIAL REVIEW Reserves policy Due to the low level of funds held, no forn]al reserves policy is in place. The Board of Trustees have reviewed the likelv outcome lor the next 12 month5 takiT]g account of historic trends and perforn]ance since the balance sheet date. The trustees consider the charity to be a going concern as it is in a position to meet it's financial liabilities as they fall due and will be able to do so for a period of at least 12 months from the date the accounts are signed. FUTURE PLANS The Board intend to continue with the charity's current aciivilies and will continue to seek ways to obLqin the required fundiiig for its activities. STRUCTURE, GOVERLNANCE AND MAiYAGEMENT Governing document The charity is a Scottish Charitable Incorporated Organisation registered with Companies House under the registration number CS003267 and with OSCR under the registration number SC048177. The charity is governed by its constitution. Recruitment and appointment of new trustees Trustees are appointed in accordance with the charity's constitution. Induction and training of new trustees A process of regular meeting5 and other conununication5 inform and update both new trustee5 and existing trustees in respect of the organisation's legal status, constitutional documents and other general information, in addition to a review of the activities within the organisation. Key management remuneration Key manageTnent personnel who are responsible for managing and controlling the charity are the trustees. The trustees do not receive remuneration for their services. There were no related paty transactions during the year ended 31 March 2025 (2024: none). Risk n]anagement The trustees have a duty to identify and review the risks to which the charityi is exposed and to ensure appropriate controls are in place to provide reasonable assurance againsi fraud and error. The trusiees review the risks affecting the charity at Board meetings and take appropriate action to mitigate any matters arising. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number SC048177 Page 2
GLAD RADIO SCIO REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 REFERENCE AND ADMINISTRATIVE DETAILS Inde endent Examiner Arinslroiig W'a150n LLP Caledonia House 89 Seaward Street Glasgow G41 IHJ Approved by order of the board of trustees on 22 December 2025 and signed on its behalf by: Page 3
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GLAD RADIO SCIO I report on the accounts for the year ended 31 March 2025 set out on pages five to twelve. Respective responsibilities of trustees and examiner The charity's trustees are responsible for the preparation of the accounts in accordance with the tenns of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity's trustees consider that the audit requirement of Regulation l O{ l )(a) to (c) of the Accounts Regulation5 does not apply. It is my responsibility to examine the accounts as required under Section 44(1)(c) of the Act and to state M,hether particular matters have come to my attention. Basis of ihe independent examiner's report My examination was carried out in accordance with Regulation I l olthe Charities Accounts (Scotland) Regulation5 2006. An examination includes a review of the accounting records kepi by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in ihe accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts. Independent examiner's statement In connection with my examination, no matter has come to my attention . (l } which gives me reasonable cause to believe that. in any material respect, the requirements to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations 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. Arinstron(J Watson LLP Caledonia House 89 Seaward Street Glasgow G41 IHJ 22 December 2025 Page 4
GLAD RADIO SCIO STATEMEiYf OF FINANCtAL ACTivrriES FOR THE YEAR ENDED 31 MARCH 2025 2025 Total fund$ 2024 Total funds Unrestricl runds Restricted fund Note5 INCOME FROM Donations and l¢gaci¢s 4,834 2.869 EXPENDITURE ON Charitable activities Athnin Expenses Support costs Governance costs 686 5.444 225 3.871 S405 450 450 Total 2,078 3.871 5,949 6.355 NET INCOMEI(EXPENDfTURE) 2,756 (3,871) (1,115) (3,486) RECONCILIATION OF FUNDS Total funds brought forward 4392 4J93 &68S 12,171 TOTAL FUNDS CARRIED FORWARD 522 7.570 8.685 The notes forni part of these financial statements Page 5
GLAD RADIO SCIO BALANCE SHEET 31 MARCH 2025 2025 2024 Notes FIXED ASSETS Tangible assets 1,002 1.845 CURRENT ASSEV3 Cash at bank 7.152 7.238 CREDITORS Amounts falling thie within one year (584) (398) NET CURRENT ASSETS 6.840 TOTAL ASSETS LESS CURRENT LIABILITIES 7.570 8.685 NET ASSETS 7,570 8,685 FUNDS Unrestricted fimds Restricted funds 7.048 522 4.292 4,393 TOTAL FUNDS 7370 8.685 The fllLgncial statements were approved by the Board of Trustees and authorised for issue on 22 December 2025 and were signed on its behalf by: The notes forni part of these financial statements Page 6
GLAD RADIO SCIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Chariiies SORP (FRS 102) 'Accouniing and Reporting by Charities: Statement of Recommended Practice applicable to charities preparin their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019),, Finaiicial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charities and Trustee Investment (Scotland) Act 2005. A55ets and liabilities are initially recognised at historical cost OT transaction value unle55 Otherwise stated in the relevant accounting policy notes. The financial statements are presented in Sterling (£). Going concern The financial statements have been prepared on a going concern basis which the Trustees believe to be appropriate for the reasons set oui in the Trusiees, Report. Financial reporting standard 102- reduced diselosure exemptions The charity has taken advantage of the follom'ing disclosure exemption in preparing these financial statements, as pemiitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,: the requirements of Section 7 Statement of Cash Flows. Provision5 Provisions are recognised 'hen the charity has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the charity will be required to Settle the obligation and the amount of the obligation can be reliably estimated. Provisions are recognised ai the best estimate of the amount required to settle the obligation at the reporting date. Judgemenls The charity considers on an annual basis the judgements that are made by management when applying its significant accounting policies that would have the most significant effect on amounts that are recognised in the financial statements. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, any perfomlance conditions attached to the income have been meL At is probable that the income will be received and the amount can be measured reliably. Income from govemment and other grants. Vs'hether 'capithl' grants or 'revenue' grants, is reco(Jnised when the charity has entitlement to the funds, any perforniance conditions attached to the grant5 have been vnet, it is probable that the income will be received and the amount can be measured reliably and is not deferred. Other revenue streams are recognised when there is an understanding of the terms to both parties and the charity has invoiced the appropriate entitv. In the event that a service is subject to conditions that require a level of perfomiance before the charity is entitled to funds, the incotne 15 deferred and not recognised until either those conditions are fully met or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be lfIlled in the reporting period. Expenditure Liabilities are recognised as expenditure a5 500n 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 obligaiion can be measured reliably. Expendilure is accounied for on an accruals basis and has been classified under headings that aggregate all cost related to the category,. IhThere costs cannoi be directly attributed to particular headings they have been allocaled to activities on a basis consistenl with Ihe use of resources. Page 7 continued...
GLAD RADIO SCIO NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES- continued Charitable activities Costs of charitable activities are incurred on the charity's provision including support costs and costs relating to the governance of the charity. Governance costs Consists of the costs of the accounts preparation and other financial service5 and any expenditure incurred in compliance with the legal requirements of (he charity. Allocation and apportionment ofeosts Support costs are those functions that assisi the work of the charity but do noi directly undertake charitable activities. Support costs include back office costs. finance. personnel and governance costs which support the charitys programmes and activities. These cosls have been allocaied to expendirure on charitable activities. Tangible fixed assets Depreciation is calculated 50 as to TIle off the cost OT valuation of an asseL less its estimated residual value, over the useful economic life of that asset as follows= Equipment - 200/0 Straight line Tangible fixed assets are included at cosi less accumulated depreciation and accumulated impairnient losses. Impairment of tangible fixed assets At each reporting date non-financial assets not carried at fair value. like plant and equipmenL are reviewed to deterniine whether there is an indication that an asset mas, be impaired. If there is an indication of possible impairnient, the recoverable amouni 'hICh is the higher of value in use and the fair value less cost to sell, is estimated and compared with the carrying amount. If the recoverable amount is lower. the carrying amount of the asset is reduced to its recoverable amount and an impainnent loss is recognised immediately in profil and loss. Taxation The charity is exempt from 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 fund5 can only be used for particular restricted Purposes within the object5 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. Financial instruments The charity only enters into basic financial instrnments transactions that result in the recognition of financial assets and liabilities like other accounts receivable and pa)'able. Debt instruments thai are pavable or receivable within one year, typically other accounts recelvable and payable, are measured, initially and subsequently, at the undi5counted amount of cash or other consideration expected to be paid or received. Financial assets measured at C05t and atnortised c05t are assessed at the end of each reporting period for evidence of impairnlent and if found, an impairment loss is recognised in profit or loss. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. Page 8 continued...
GLAD RADIO SCIO NOTES TO THE FINANCIAL STATEMENTS- Continued FOR THE YEAR ENDED 31 MARCH 2025 AccouNfING POLICIES- continued Financial instruments Cash and c&sh equivalents includes cash in deposits held at call with banks. other short-tern) higbly liquid investrnents with original maturities of three months or less aDd bank overdrafts. Bat& overdrafts, when applicable, are shown within borrowings in cuent liabilities. TRUSTEES, REMUNERATION AND BENEFfTS There were no ttees, remuneration or other benefits for the yfdr ended 31 March 2025 nor for the year ended 31 Mar¢h 2024. Truste¢s' expenses There were no tn]stees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024. COMPARATIVES FOR THE STATEMENf OF FINANCIAL ACTivrrIES UDrestricted funds Restrieted fund Total funds INCOME FROM Donations and legacies 2,869 2,869 EXPENDITURE ON Charitable activities Admin Expenses Support costs Governance costs 686 4.421 686 5,444 225 1.023 225 Total 1248 5,107 6,355 NET IF4COMElffXPENDITURE) 1.621 (5.107) (3.486) RECONCILIATION OF FUNDS Total funds brougbt forward 2.671 9.500 12.171 TOTAL FUNDS CARRIED FORWARD 4.292 4,393 8,685 Pa8e 9 continued...
GLAD RADIO SCIO NOTES TO THE FINANCIAL STATEMENTS- Continued FOR THE YEAR ENDED 31 MARCH 2025 TANGIBLE FIXED ASSETS Computer equipment COST At l April 2024 and 31 Mah 2025 4,216 DEPRECIATION At l April 2024 Charge for y¢ar 2,371 843 At 31 March 2025 3,214 NET B(X)K VALUE At 31 March 2025 1,002 Ai 31 March 2024 1,845 CREDITORS: AMOUNTS FALLING DUE WtTHIN ONE YEAR 2025 2024 Other C[ltorS $84 398 ANALYSIS OF NET ASSETS BETWEEN FUNDS 2025 Total runds 2024 Total funds Unrestrieted funds Restricted fund Fixed assets Cutrent assets Current liabilities 1,002 6,630 (584) I,(Mb2 7,152 (584) 1.845 7,238 (398) 522 522 7.570 8.685 MOVEMENT IY4 FUNDS Net movement in funds At 3113r25 At 114n4 Unrestricted funds General fund 4292 2,756 7.048 Restricted funds The National Ittery Community Fund 4J93 (3,871) 522 TOTAL FUNDS (1,115) 7,570 Page 10 continued...
GLAD RADIO SCIO NOTES TO THE FINANCIAL STATEMENTS- Continued FOR THE YEAR ENDED 31 MARCH 2025 MOVEMEI¥T IN FUNDS- continued Net movement in funds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestricted funds General fimd 4,834 (2,078) 2,756 Restricted funds The National Lottery Community Fund (3,871) (3,871) TOTAL FUNDS 4,834 (5,949) (1,115) Comparatives for movement in funds Net ovement in funds At 3113r24 At 114123 Unrestricted funds General fund 2.671 1.621 4,292 Restrieted fun(L8 The N*ional ttery Community Fund 9.500 (5.107) 4.393 TOTAL FUNDS 12,171 (3,486) 8,685 Comparative net movement in funds. included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestrieted funds General fund 2.869 (1.248) 1.621 Restricted funds The National Lottery Community Fund (5,107) (5,107) TOTAL FUNDS 2,869 (6,355) (3,486) The National Ittery Community Fund A grdnt received for equipment and related costs. Pagell continued...
GLAD RADIO SCIO NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 March 2025. Page 12