CHARITY REGIST114TION NUMBER.. SC049942 COMPANY NUMBER. SC235969 Wester Ross Radio Ltd. Trustees, Report and Unaudited Accounts 31 December 2025 AUDACIA LTD Chartered Accountants 18 Stafford Street Tain Ross-shire Scotland IV19 IAZ
Wester Ross Radio Ltd. Financial Statements Year ended 31 December 2025 Page Trustees, annual report Independent examiner's report to the trustees Statement of financial activities Statement of financial position Statement of cash flows Notes to the financial statements io The following pages do not form part of the finaneial statements Detailed statement of financial activities 22
Wester Ross Radio Ltd. Trustees, Annual report Year ended 31 December 2025 The rrustees. who are also directors of the charity for the purposes of the Companies A¢t 2006, present their report with the unaudited financial staternents of the charity for the year ended 31 December 2025. The financial statements comply with The Charities and TTU5tee Investtnent (Scotland) Act 2005. the Charities Accounts (Scotland) Regulations 2006 (as atnended), the Companie5 Act 2006, the Memorandum and ArtEcles of Association, and Accounting and Reporting by Chariiies.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicabl¢ in the UK and Republic of Ireland (FRS102). Referenee and administrative details Registered charity name Charity regi5tratiOll Dumber Company regi$¢ration number Principal olee Wester Ross Radio Lid SC049942 SC235969 The Studio Strath Gairloch Ross-shir¢ IV212LR Directors and Trustees gre". The Director5 8nd Trusttt5 8re: G.M Bellamy T.R Cole K.H Douglas J.1 Fish MBE C.F.R. Irvine G.R Quinn Revd. A.M Simpson S.D.G Spencer M.J.N Stevenson Appointed 29 July 2025 Resigned 05 July 2025 Independent examiner David J Robertson CA ¢10 Audacia Ltd 18 Sthfford Street Tain Ross-shir IV19 IAZ
Wester Ross Radio Ltd. Trustees, Annual report (conrinued) Year ended 31 December 2025 ORIECTIVES AND ACTIVITIES The charitable purposes of Wester Ross Radio Ltd #re: To advan¢e citizenship and community development through the production, presertiation, and dissemination of radio programmes, improving the quality of life for the whole community of its operating area by creating connections. improving inclusion. reducing isolation, and supporting community cohesion and development. To advance the education and opportunities for residents of all ages and backgrounds within the operating area by providing training in production and preseniation of radio prowm¢s. broadening the Skills. confidence. knowledge and experience of the community as a whole. To promote the advancements of the arts and culture, particular focus on Scottish, Highland and Gaelic culture in Wester Ross, the wider Highland diaspora and beyond. ACHIEVEMENTS AND PERFORMANCE Thi5 year marked the se¢ond full year of Radio Wester Ross's rebrand. and it has been encouraging to see how POSLtively our wider audi¢nce has responded. Our streaming figures continue to grow, now reaching between 4,000 and 4,500 unique monthly connections. For a station Serving a Nral area of our size, this is a strong and reassuring indicator of engagement. Our pr0Mlg is managed through th¢ Gairloch studio, ¢nsuring a consistent and professional standard across live shows, voiee-tracked content and pr(Trgrarnme5 submitted by Contributors. The introduction of the weekday morning show has added further strength and variety to our sehedule. Beyond the studio. community support has once again been a real highlitrht. A successful rdffle and th¢ generous contribution from the Great Wildemess Challenge provided important income at a time when finances were under pressure. We were also extremely grateful to receive a £4,000 donation from Badachro Hydro. Each of these contributions made a meaningful difference during what has been a challenging year for the station. FINANCIAL REVIEW Advertising reyenue remains under pressure. Scottish Govemment agency spend continues to favour larger operators, leaving community radio stations operating on limited budgets. Local advertising and swnsorship have grown since the rebTand, which is an encouraging SI of confidence from businesses in our area. We also joined the DAX digital advertising initiative through Local Radio Supportto broaden our income streams. although returns so far have been modest. The launch of STV Radio in early 2026 is expecied to increase ompeiition for the same limited advertising budgets. On the ¢o$t Side, electricity prices continue to place pressure on our resources. and wages remain one of our most Significant overheads. A major positive this year wa5 securing a £30.000 Community Regeneration Fund grant from Highland Council. This is a re5tri¢ted capitkl grdllt, paid directly against approved ¢quipment purchases rather thall into our bank account. It will allow us to r¢-equip the Gairlo¢h studio and restore a broadcast Studio in Ullapool. Although the funds do not pass through our ac¢ounts a5 cash, they represent a 5ignifi¢ant Ènvestment ID the stAtion's infrastructure and will be recognised as in¢orne and expenditur¢ ps th¢ equipment is purchased. Overall fin&nces remain tight. and a meaningful improv¢rn¢nt in revenue during 2026 will be essential for the station's continued viability.
Wester Ross Radio Ltd. Trustees, Annual report (conlinued) Year ended 31 December 2025 FINANCIAL REVIEW ( ContlDued) During the year the charity generated total income of £47,626 {2024.' £28,626} and ineurred ¢xpenditure of £72,401 (2024.. £65,872}, resulting in a deficir for the year of £24.775 (2024.. £37246}. Total funds at the year end were £71,186, of whi¢h £61,918 were unrestricted funds and £9,268 were restricted fvnd5. Whilst re5¢rve5 have reduced during the year, the trustees remain focused on improving recurring income and strengthening th¢ Charity's long-terni financial sustatnability. PLANS FOR FUTURE PERIODS In 2024 we began a progTamme to upgrade the inactive Shieldaig transtnitter. Following detailed technical assessment and restordtion work through 2025. and after a "test period" the transmitter is r¢ady to be re-COTnmissioned. This will extend coverage and provide more reliable access to local progTatnming and essential inforTnation, particularly during p¢riods of severe weather enabling 101.8 FM to broadcast within the Shieldaig and Torridon areas. We continue to monitor OFCOM'S consultation on local news and infomiation requirements under the Media Act 2024. While some changes to our news obligations appear manageable. increased expectations for weekend local infornjation output may create financial pressure if they cannot be met within existing resources. Tighter requirernents around accuracy and compliance may also necessitate additional staffing or freelance support. Combined, these pressures could affect the long-temi sustainability of smaller siations and risk our ability 10 retain licences without further support. Looking ahead, the renewal of our Gairloch and Ullapool broadcast licences will represent an additional comtnitment at a time of already considerdble financÉal strain. We have also expressed interest in joining a proposed Ullapool DAB multiplex, which would offer an important medium-terni digital solution ahead of the planned 2030 FM switch-off, although th¢ UK Govemment is still reviewing whether a full swiich-off will proceed. Despiie these challenges, we remain comrnitted to Strengthening local broadcasting infrastru¢ture. Our ongoing aim 15 to deliver high-quality, locally relevant broadcasting alongside cotnTnunity outreach and youth development. re-inforcing loca5 radio as a trnsted and accessible resource for the communities in the Wester Ros5 are45. STRUCTURE, GOVERNANCE AND MANAGEMENT Radio Wester Ross is incorporated under the Companies Aci as a private Cotnparty limited by 8uarantee. It5 purposes and adTnini5trdtiv¢ atTang¢meThts are s¢tout in the Articles of Association. The company is also registered as a eharaty Wlth the Offi¢¢ of th¢ Scottish Charity Regulator (OSCR), registration number SC049942. The management of th¢ company rests with the directors, who are elected in accordance with the Articles of Association. Direciof5 ar¢ ¢lect¢d or re-elected by the members at ihe Annual General Meeting each year. The directors may also appoint a member to serve as a director during the COUTse of the financial year,. however, any such appointment requires the individual to r¢tire at the next Annual General Meeting, at which point they may stsnd for re-eleciion. The directors are responsible for identifying and reviewing the risk5 to which th¢ chaTity 15 exposed and for ensuring that appropriate internal controls are in plac¢ to provide rea50nable assurance against fraud, ¢Tror and other irregularities. The directors are also responsible for maintaining proper accounting records that di%105e, with reasonable accuracy. Ihe financial position of the charity at any lime and that enable them to ensure the fEn2ncial statement5 comply with the Companies Aci 2006. They are thrther responsible for safeouarding th¢ ass¢ts of th¢ charity Jnd for taking reasonable steps to preveni and detect fraud and other irregularities. For the year ending 31 December 2025. the ¢ompany was entitled to ex¢mpiion under $¢¢tion 477 of the Companies Act 2006 relating w small ¢ompaT)i¢S.
Wester Ross Radio Ltd. Trustees, Annual report (conlinued) Year ended 31 December 2025 The members have not required the company to obtain an audit of its account5, in aecordance with seetion 476 of the CoTnpanies Aci 2006. The directors acknowlcdge thcir responsibility for complying with the requÈrements of the Act with respeet io Ounting r¢cords and for the prepararion of th¢ ac¢ounts. Th¢ a¢¢ounts hav¢ been pr¢par¢d in a¢¢ordance with the provisions applicable to ¢ompanies subject to the small eompanies, regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charitie5 SORP (FRS 102). The trustees reviewcd the governing docutnent during the year and ¢oncluded that no changes were necessary to ihe smooth and orderly njnning of the organisation. Signed on behalf of the board M.J.N St¢v¢nson ChairpersonlTrnstee Date.. 16 March 2026
Wester Ross Radio Ltd. Independent Examiner's Report to the Trustees of Wester Ross Radio Ltd I report to the trnstees on my examination of the financial statements of Wester Ross Radio Ltd Cthe charity.) for (he year ended 31 De¢tber 2025 Responsibilities and basis of rtport As the bSte¢S of the charity you are responsible for ihe preparntion of the finan¢ial statements in accordance with the requirements of the Charitl¢5 and Trustee Investment {Scotland) Act 2005 (the '2005 Act.) and the Charities Account5 Iscotlandl Regulations 2006 las amended). You are satisfied that your charity is not required by ¢harity law to be audiied and have chosen instead to have an independent examinalion. I report in respect of my examination of the charity's financial statements as carried out under section 44(1)(c) of the 2005 Aci. In canying out my exaTnination I have follow¢d the requirements of Regulation I l of the Charities Accounts (Scotland) Regulations 2006 {as amended). Xndependent examiner's $taterntnl Since the charity has prepared its accounts on an accruals bayis your ¢xaminer musi be a member of a body listed in Regulation I1(2) of th¢ Chariti¢s Accounts (Scotland) Regulations 2006 (as amended). I can confirni that l am qualified to und¢rtak¢ the examination because l am a registered member of the Institute of Chartered Accountants of Scotland IICAS) which is one of the listed bodies. I have completed my examination. I confirn] that no matters have come io my attention givingme Cause to believ¢ that in any maierial respect". accounting records were not kept as required by section 44(1)(a) of the 2005 Act and Regulation 4 of the Charities Accounts (Scotland) Regulations 2006 (a5 amended), (Trr the financial stateTnents do not accord with those records: or 3. the financial statements do noc comply with the accouniing requirements of Regulation 8 of the Charities Accounrs (Scotland) Regulations 2006 (as amended). I have no ¢oncerns and have ¢ome across no other matters in connection with the examination to which attentio should be drawn in this report in order io enable a proper understanding of the accounts to b¢ r¢ached. Independent Examiner Mr David J Robertson Chartered A¢¢oun¢ant CJO Auda¢ia Ltd 18 Stafford Street Tain, Ros>shire IV19 IAZ 21" August 2026
Wester Ross Radio Ltd. Statement of Financial Activities Year ended 31 December 2025 2025 Unrestricted Restricted Total Funds funds Fund5 2024 Total Funds Note Income and endowments Donations and legacies Charitable activities Other trading activities Investment in¢tsme 8,652 25,601 12,582 791 8,652 25.601 12,582 791 4,256 15,479 7,406 1.485 28,626 Total illcome 47,626 47,626 Expenditure Charitable a¢tivitie5 Other expenditure Total expenditure 10 64.441 2.625 67,066 5.335 69,776 2.625 72,401 63,040 2.832 65,872 5,335 Net IDcomel(expeDditure) (19,440} (5.335) (24,775) (37,246) Other recognized gains and losses Other gains/(losses) Net movement in fi]nds Reconeiliation of funds Total funds brought forward Total funds ¢arri¢d forward (19,440) (5,335) (24,775) (37,246> 133207 61,918 9268 71,186 93,961 Th¢ statement of fll)ancial a¢tiYiti¢s includes all gains and losses recognis¢d in the year. All income and expenditur¢ derive from continuing activities. The notes on pages 10 to 19 form part of these financial s¢at¢ments.
Wester Ross Radio Ltd. Balance Sheet 31 December 2025 2025 2024 Note Fixed &s5ets Tangible A55ets 14 27,906 34,365 Currertt assets Deb¢ois Prepayments Cash at bank and in hand 15 Is 2J84 1,840 3,496 2,961 47.945 64.889 Credi¢or5: amouDt$ f•Iling due within one y¢gr Net current 8$$et8 16 43280 61.596 Tot814sset$ less ¢urr¢nt li•balities 71,186 95,961 Funds of ihe eharlty Restri¢ted futsds Unrestricted funds 17 17 9268 14,603 Total charity fund5 71.186 95.961 The tru5tets have prtpared the accounts in accordanee with section 44 of the Charities and Tntte Investmeni IS¢oilandl A¢(2005 and in a¢cordan¢e with the special provision of Part 15 of the Companies Act 2(6 relating to small companies. For the year ended 31 December 2025 ¢h¢ Company was enti¢l¢d to exetDption wid¢r s¢¢tioo 477 of the Companies Act 2006 relating to small eompanies. The meTnbers have not required the company to obtain an audit in accordance wilh section 476 of the Companies Act 2006. The directors acknowledge thetr responsibilities for complying with the requirements of the Companie5 Act 2006 with respect to ac¢ollnting records and the preparation of accounts. Approved by the board ot) 25 Febrnary 2026 and signed on its behalf by= M.J.N Stevenson Chairp¢rsonnrust¢e Date: 16 March 2026
Wester Ross Radio Ltd. The notes on pages 10 to 21 form part of these fJn#ThciAI statements.
Wester Ross Radio Ltd. Statement of Cash Flows Year ended 31 December 2025 2025 2024 Cash now5 from operating activitie5 Net incomel(expenditure) (19,440) (37.246) AdjusimenÉsfor" Depreciation of property, plant and ¢quipment 6,498 6,621 D¢crease/(in¢Tease) in trade and other receivables {Decreaseyincrease in trade and other payables 2,033 1,372 (2,418) (163) Net cash provided byl(u5ed in) operating aetivities Cash outlays re other activities Payments for propety, plant and equiprnent Payments from restricted grants 39 S335 6.414 Net egsb outlay from other attlvltie$ 5a74 6,414 Net inereasel(deertase) In eash and eash equivalents Cash and cash equivalents at beginning of year Casb and eash equivaleThts #t eThd ofyear {14,911) (39,620) 43.521 58.432 The notes on page$ 10 to 19 form part of ¢he$e finaneial Statements. 10-
Wester Ross Radio Ltd. Notes to Financial Statements Year ended 31 December 2025 CeDeral information The charity is a registered charity in Scotland and is incoqxjrated. The address of the prin¢ipal office is The Studio, Strdth, Gairlwh, IV212LR. Company status The company is a privat¢ MpanY limited by guarantee and consequently does not have share capital. In the event of the company IKing wound up, the liability in r¢sp¢ct of the guarantee is limited to £1 per member of the company. Statement of eomplianee These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in ihe UK and th¢ Republic of Ireland., the Statement of Recommended Practiee applitable to chtirities preparing their a¢counts in accordance with the Financial Reportirtg Standard applicable in the UK and Republic of Irelpnd IFRS 1021 (Charities SORP (FRS 102)) and ihe Charities and Trusiee Investmerti (Seotland) Act 2005 and th¢ Charity Accounts (Scotland) Regulations 2006 {as atnended). A¢counting policie5 Basis of preparation There have been no changes to th¢ a¢¢ounting policies (valuations rules and method of accounting) since last year and no ctwjges have i>een made to a¢¢ounts for previous years. Going concerD There are no material uncertainties about the charity's ability to continue. Disclosure exemptions The entity satlsfie5 th¢ criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of Wester Ross Radio Ltd. As such. advantsge h&$ been taken of the following di5c105ur¢ ¢x¢mption5 available under paragraph 1.12 of FRS 102.. (a) Disclosures in respect of fEnancial instruments have not b¢en presented. Judgements and key sources of estimation uncertainly The preparation of the financial statements requires managetnent to tnake judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectaiiorts of future events that are believed to be reasonable under the circumstances. Fund 2eeouThting Unrestri¢t¢d fuDds are available for use at the discretion of the trustees to further any of the charity's purp05e5. Designated funds are ut)restri¢ted fimds eanxarked by the trustees for a particular fijture proje¢t or commitment. Restricted fund5 yr¢ subje¢ted to re5triction5 on their expenditure de¢lared by the donor or through the terin5 of an appeal and fall into one of two sub-classes.. restricted in¢om¢ fvnds or endowment funds.
Wester Ross Radio Ltd. Notes to Financial Statements (contintsed) Year ended 31 December 2025 AteouDting polieies {contÉDued) IDcoming resources All incoming resouites are included in th¢ statement of finan¢ial activities when entitlement has pSed to the chariry,. it is probable that th¢ e¢onomic benefits associated with the transaction will flow to the charity and the amount ean b¢ reliably measured. The following specific policies are applied to particular eategories of incotne.. income from donations or grants is recognised when there is evidence of entitlement to th¢ gift, relpt is probable, and its amount can be measured reliably. legacy income is recognised when r¢¢eipt is probabl¢, and entitlement is established. income from don74ted goods is measured at the fair value of the goods unless this 15 Lmpractical to measur¢ reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contsacts for the supply of services is recogni5ed with the delivery of the ¢ontra¢t¢d service. This is Classified as unrestricted fijnds unless there is a contractual reqtsirement for it to be spent on a particular purpose and returned if unspent, in which case it may regarded 8$ restricted. Resources expended Expenditure 15 recognised on an a¢¢ruals basis as a liability 15 incurred. Expenditure includes any VAT which cannot be fully recovered, and is classEfied under headings of the siatemenr of financial activities io which it relates.. exp¢nditur¢ on raising funds includes the costs of all fundraising activitie& events. non-charitable trading activities, and the sal¢ of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further irs charitable aims for the benefit of its beneficiaries, includingthose sUPPOrt costs and cosis relating to the govemance of the chariry apportioned to eharitable activities. other expenditure includes all exp¢Dditure thai ts neither r¢lat¢d to rd15ing fvnds for the charity nor part of its expenditure on charitable activities. AII costs are allocat¢d to expenditure categories Teflecting the use of ihe resource. Direct costs attributable to a singl¢ activity are allted directly to that activity. Shared costs are apportioned bettveen the a¢Éivities they ¢ontribute to on a reasonable, justifiable and Consistent basis. Investments Unlisted equity investtnents are initially recorded at cost and subsequently measured at fair value. If fair value cannot be reliably measured, a55ets are rneasured at cost less impairtnent. Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure. 12
Wester Ross Radio Ltd. Notes to Financial Ststements (continued) Year ended 31 December 2025 A¢¢Ollntlg poll¢le$ {continued) Impairrnent and depreciation of fixed #s$ets A review for indicator5 of impairn)ent is caJTied out at each reporting date, with th¢ r¢coverable amount being estitnated where such indicators exisi. Where the canying value exceeds the recoverable amount. the asset is impaired ac¢ordingly. Prior impaimients are also reviewed for possible reversal at each reporting date. For the purposes of impaimient testing, wh¢n it is not possible to estimate the recoverable amount of an individual asset. an estimate ss made of the re¢overabl¢ amount of the cash-generating unit lo which (he asset belongs. The cash-generating unit is th¢ smallest identifiable group of assets that includes the asset and generates cash inflow5 that are largely ind¢pendent of the cash inflows from other assets or groups of assets. For impairment testing of g¢y)dwill, the goodwill acquirtd in a busines5 colnbination 15, frorn th¢ acquisition date, allocated to each of the cash-generating units thai are expected to benefst fr(Fm th¢ synergies of the combination, irrespective of whether other assets or liabilities of th¢ Charity are assigned to those units. DeprlatIOn is provided at the following annual rates in order to write off each &sset over its ¢stimated Useful life.. Trdnsmission Equipment- 12.5Q/D Reducing b8lan¢e Music Library- 250/fj R¢du¢ing balance Fixtures, fittings & equipment- 25/0 Reducing balance Financial instruments A financial asset or a financial liability is re¢ognised only when the charity becomes a party to the contractu&l provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the ¢&sh or other consideration ¢xpe¢ted to be paid or received and not discounted. Debt instruments are subsequently me&sured at amortis¢d cost. Where investments in 5har¢5 are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently meysured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impaimient. OtheT fInancial instruments. including derivatives. are initially recognised at fair value, unless paym¢nt for an asset is defeed beyond nornial business rern)s or financed at a rate of interest that is not amarket rate, in which case the asset is measured at the present value of the ttre payment5 discounted at market rate of interest for a similar debt instrument. Other financial instrnments are subsequently m¢asured at fair value, with aTty changes recognised in the statement of finantial activitie5, Wlth th¢ exception of h¢dging instruments in a designated hedging relationship. 13-
Wester Ross Radio Ltd. Notes to Financial Statements (continued) Year ended 31 December 2025 Financial as%ts that are tn¢asur¢d at Cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impaimient. an impairment 105s is recognised under the appTopriate heading in the statement of financial activities in which the initial gain wa5 re¢ognised. For all equity instruments regardless of signifieanee, and other financial assets that are individually significant. these are assessed individually for impaimjent. Other fInanriAI asse¢s are either esSed individually or grouped on the b&8is of similar credit risk characteristics. Accounting policies (continued) Financial InstrUfflets (continued) Any reversals of impairnient are recognised immediately. to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the tarrying aTnourtt would have been had the impaim)ent not previously been recognised. Staternent of Finan¢i41 Activities- prior ye¥4r Unrestricted funds Restricted funds Total funds 2024 Income and endowthents from: Donations and legacies Charitable activities Other trading activities Investments Total 4,256 15.479 7,406 1.485 28,626 4,256 15,479 1,485 28,626 Expenditure on: Raising fitnds Charitable activities Other Total 63,040 63,040 65,872 65,872 N¢t gain on inv¢stments Net Jncome (37,246) (37,246) Transfers between ndS Net Income before other gains (losses) Other gains and losses Net movement in funds (37.246) (37.246) 37 46 Reeoneili8tion of funds: Total funds brought forward 118,604 14,603 133307 Total funds tarried forward 81J58 14,603 95,961 14-
Wester Ross Radio Ltd. Notes to Financial Statements (continued) Year ended 31 December 2025 Donations and legacies Unrestricted fvnds Restricted funds Total fuDds 2024 Donations Giants Membership and subscriptions Gift aid 4.379 795 4,069 204 8.652 3,188 273 4,256 Charitable activities Unrestricted funds Restricted funds Total funds 2025 Unrestricted funds Restricted funds Total fitnd5 202, Broadcast revenue- AdYert15ing Broadtast rev¢nue- Sptsnsorship 22,439 22,439 3,162 12,389 3.090 15,479 12,389 3,090 Other trading *ctivities Unrestricted funds R¢stri¢ted fijnds Total fuDds 2025 Fundraising actlvilies Fundraising events Retail sal¢s Internet facilitie5 Miscellaneous income 12,147 12,147 144 291 12,582 144 291 12,582 Unrestricted funds Restricted funds Total funds 2024 Fundraising activities Fundraising events Retail sales Internet facilities Miseellaneous income 7,240 7,240 166 166 7,406 7,406 15-
Wester Ross Radio Ltd. Notes to Financial Statements (continued) Year ended 31 December 2025 Investment ineome Unrestricted nds Restricted funds Total funds 2025 Bank deposit interest 791 791 791 791 Unrestricted fund5 Restricted funds Total funds 2024 Bank deposit int¢Test 1,485 Expenditure on raising funds Unrestricted funds Restricted nds Total funds 2025 Fundraising ¢osts R¢tail sal¢s 474 474 474 474 Unrestricted fund5 Re5trict¢d fund5 Total funds 2024 Fundraising costs Retail sales 16-
Wester Ross Radio Ltd. Notes to Financial Statements (conlin74ed) Year ended 31 December 2025 10. Eipenditure on charitable activitleS Unrestricted fund5 Restricted fijnds Total fund5 2025 Licence fees Subscriptions Rent Rates and water Electricity Repairs and maintenance Insurance5 Staff wage5, Nl and Pensions Voice overs Office sundries Telephone Computer and internet Radio voice tracking Depreciation 3,268 1,980 2.160 386 6,183 140 1.044 39,720 130 36 404 1,892 600 6,498 64,441 3,268 1,980 2,160 386 6,183 5,47S 1,044 39,720 130 36 404 1.892 600 6,498 69.776 5,335 5,335 Unrestricted funds Restricted funds Total funds 2024 Licence fees Subscriptions Rent Rates and water Electricity Repairs and rnaintenance Insurances 3,229 2.292 2,160 332 7.369 668 967 3,229 2.292 2.160 332 7.369 668 967 F I"1 Staff wages. Nl and Pensions Voice oyers Studio cleaning Office sundries Telephone Cotnputer and intern¢t Voicetracking IT Support Adv¢rtising Depreciarion 33.589 410 1,056 36 374 1,770 690 800 677 6.621 33,589 410 1,056 36 374 1,770 690 800 677 6.621 63.040 17
Wester Ross Radio Ltd. Notes to Financial Statements (conlinued) Year ended 31 December 2025 Other expenditure Unrestricted 2025 Restricted 2025 Total funds 2025 Total fvnds 2024 Donations 10 Others Training Travel Meeting expens¢s Fundraising costs (Note 9) Bank and other interest charges Sundry expenses 481 731 172 446 365 474 446 365 474 .090 1,090 844 Governance costs: Accountaney and independent examination 250 250 600 12. Net Incomel(expenditure) before transfers Total 2025 Total 2024 This is stated after charging.. Depreciation of owned fixed assets Independent examiners fee &498 250 6,621 600 3. Staff eo$ts No ¢mploy¢¢ received emoluments in excess of £60,000 The average monthly number of full time equivalent employees in during the year w&8 as follows.. Total 2025 Total 2024 Staff The chariry operates a d¢fin¢d ¢ontribution sch¢m¢ for one of its ¢mploye¢s 18-
Wester Ross Radio Ltd. Notes to Financial Statements (conllnued) Year ended 31 December 2025 14. Tangible fixed assets Tran$mi%sion equipment Musi Library Fixtures. & equipment Myriad System Website Total Cost or revAluation l January 2025 Additions 106,402 31.220 12J,638 7.546 4,750 40 273,556 40 31 December 2025 106,402 31,220 123,638 7.546 4.790 273.596 Depreciation and impairrnent l January 2025 Depreciation ¢harg¢ 91397 1,888 28310 753 118,078 lJ90 1,132 1.509 475 239,192 6,498 958 31 December 2025 93,185 28,963 119,468 2,641 1,433 245,690 Net Book Valu 31 December 2025 13217 2,257 170 4,905 3J57 27.906 31 December 2024 15,105 3.011 5,560 6,414 4,275 34,365 19-
Wester Ross Radio Ltd. Notes to Financial Statements (conlinued) Year ended 31 December 2025 15. Debtors and Prepayments 2025 2024 Trade debtors PTepayments and accrued income 2.584 3.496 16. Creditors: amount5 falling due within one year 2025 2024 Trade creditors Other taxes and social security Atcruals and deferred inc(Trtne Value added tax 1,123 703 1.565 1.274 545 497 1,737 514 3,293 -20-
Wester Ross RadÈo Ltd. Notes to Financial Statements (continued) Year ended 31 December 2025 17. Moyement in funds Balanc¢ at l Jan 2025 Income Expenditure Trdnsfer5 Gains and At 31 Dec losses 2025 R¢stri¢ted funds 14.603 5,335 9,268 Unrestricted funds 81,358 47,626 67.066 61,918 Tolal Funds 72.401 18. Analysis of net a55¢ts between fund5 Unrestricted Restricted Funds Funds 2025 2025 Total Funds 2025 Fixed Assets Net Current assets Defeffed Incorne Total fuDds 27,906 34,012 27,906 43280 9,268 61,918 19. Reconciliation of net funds New HplFinanc¢ Leases Cash flows At31 December 2025 2025 Cash and Cash Equival¢nts 58,432 {14,9111 43,521 Total fund5 20. Related party di5closure5 Controlling party Th¢ company is limited by guarantee and has no share capital, thus no single party controls the company. 21
Wester Ross Radio Ltd. Management Information Year ended 31 December 2025 The following pages do not forrn part of the financial statements. 22-
Wester Ross Radio Ltd. Detailed Statement of Financial Activities Year ended 31 December 2025 2025 2024 Income endowments Donations and legacies t)onations Grants Membership subscriptions Gift aid 4.379 795 4,069 204 8,652 3,188 273 4.256 Charitable aetivities Broad¢a5t revenue- Advertising Broad¢a5t revenue- Sponsorship 22,439 12,389 Other trading activitie5 Fundraising activities Fundraising events Retail sales Internet facilities Miscellaneous income 12.147 7.240 166 291 Investment income Bank interest received Other interest received 791 1,485 791 Total incorne and endowments 47.626 28.626 -23-
Wester Ross Radio Ltd. Detailed Statement of Financial Activities (continued) Year ended 31 December 2025 2025 2024 Expenditure". R¥ising funds Costs of g¢nerating donations aT)d l¢ga¢ies'. Donations and legacies Grants Costs of other trading activtties.. Fundraising costs Retail sales 474 474 Expenditure on charitable activities Licence fees Subscriptions Rent Storage rent Rates and water Electricity Repairs and maintenance Fire safety Insurance5 Staff wages, Nl, and Pension Other staffing costs Voice overs Studio tleaning Printing. stationary and postage Office sundries Telephone Computer and internet IT Support Advertising Radio voice tracking Depreciation 3,268 1,980 2.160 3,229 2,292 2.160 332 7.369 668 6.183 140 967 33.589 39,720 130 410 1.056 36 36 374 1,770 800 677 690 6,621 63.040 1,892 600 6.498 Other expenses: DonaiioDs to oihe Training Travel Meeiing expenses Bank charges and exchange rates Bank and interest charges Sundry expenses Governance costs: Accountancy and independent examination Other statutory and professional fees 481 731 446 365 1,090 848 250 6(MJ 2,832 Total expeThditure -24-
Wester Ross Radio Ltd. Detailed Statement of Financial Activities (conlinued) Year ended 31 December 2025 2025 2024 Net Gains on investtnents Net IneomeJ(expeNditllre) Trdnsfer between funds (19,440) (37,246) Net incomel{¢xpeNdltllrel before other gain(lO$s¢s) Other gains Net movement in funds (19,440) (37,246) 19.440 37.246 -25-