Charity registration number $C052427 (Scotland) Company registration number SC 160070 (Scotland) ## ARGYLL FM LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 ## ARGYLL FM LIMITED ## LEGAL AND ADMINISTRATIVE INFORMATION |Directors|C Middleton| |---|---| ||J Armour| ||K Johnson| ||C George| ||A Gorman| |Secretary|C Middleton| |Charity number (Scotland)|$C052427| |Company number|$C160070| |Registered office|27-29 Longrow| ||Campbeltown| ||ARGYLL| ||PA28 6ER| |Independent examiner|lain Webster| ||Suite 30| ||Hazelburn Business Park| ||Milknowe| ||Campbeltown| ||Argyll| ||PA286HA| ## ARGYLL FM LIMITED ## CONTENTS **----- Start of picture text -----**
Page
Directors’ report 1-2
Independent examiner's report 3
Statement of financial activities 4
Balance sheet 5
Notes to the financial statements 6-14
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ARGYLL FM LIMITED
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DIRECTORS' REPORT (INCLUDING DIRECTORS’ REPORT)
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FOR THE YEAR ENDED 31 MARCH 2025
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The directors present their annual report and financial statements for the year ended 31 March 2025. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity’s governing document, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). ## Objectives and activities The provision of a recreational facility and the organisation of recreational activities across Argyll in the form of community media, with the object of improving the conditions of life for those who have access to it, as well as advancement of the arts, heritage, culture or science, the advancement of education and the promotion of community cohesion and development through: - ® The operation of the independent local radio station “Argyll FM", broadcast to the public at large; © The operation of community media initiatives in other forms that may include Web-based, television, print or mixed media; - ® Ensuring that the output of its community media initiatives cater for the people of Argyll and is relevant to those who live in this region, unlike the output of mainstream conventional media providers; - ® Working to reduce social isolation and exclusion for the people of Argyll through both involvement in and access to its community media initiatives; - ¢ Providing opporlunilies for the leaching, learning, and practising of skills in media production and broadcasling; © Providing opportunities for the promotion of local musical and other creative talent. **----- Start of picture text -----**
The directors have paid due regard to guidance issued by The Office of the Scottish Charity Regulator (OSCR) in deciding
what activities the charity should undertake.
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Achievements and performance
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Over this financial year, we have continued to operate the radio station "Argyll FM" as mandated in our governing document,
broadcasting 24 hours a day, 365 days a year, with output tailored to the people of Argyll with a local and increasingly
regional focus. We've continued to expand that broadcast to a wider audience and improve the reliability of our services. We
will always promote homegrown talent and take any opportunity we can to support local individuals in creative and broadcast
sectors. We've kept the people within our broadcast region updated including in times of crisis when normal modes of
communication are unavailable. We've continued to liaise with local schools to introduce young people to the world of
broadcast media and we've consistently been striving to alleviate social isolation across the region through the provision of
our service.
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ARGYLL FM LIMITED
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DIRECTORS’ REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED)
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## FOR THE YEAR ENDED 31 MARCH 2025 ## Financial review Reserves policy Our target level of reserves may be expressed as a target figure or a target range and will be informed by: - Our forecasts for levels of ncome for the current and future years, taking into account the reliability of each source of income and the prospects for developing new income sources - ® Our forecasts for expenditure for the current and future years on the basis of planned activity * Analysis of any future needs, opportunities, commitments or risks, where future income alone is likely to fall short of the amount of the anticipated costs - * Assessment, on the best evidence reasonably available, of the likelihood of a shortfall atising whic) means that reserves are necessary, and the potential consequencesfor the charity of not being able to make up the shortfall. At this time, our target level of reserve has been set at £1,000 - £1,500. We will keep our reserves policy and the level of reserves held under review, monitor the level of reserves held throughout the year to establish the reason for any significant difference with the target level set. If reserves during the year are below target or exceed target, we will consider wheather this is due to a short-term situation or a longer-term issue, and take any appropriate action. - Structure, governance and management The charity is a company limited by guarantee and not having a share capital. The directors who served during the year and up to the date of signature of the financial statements were: € Middleton - J Armour - K Johnson Cc George A Gorman Recruitment and appointment of trustees We encourage prospective trustees from the company / charity membership to contact the existing trustees by email, and then complete the process of recruitment at a subsequent general meeting. None of the directors has any beneficial interest in the company. All of the directors are members of the company and quarantee to contribute £1 in the event of a winding up. The directors' report was approved by the Board of Directors. **----- Start of picture text -----**
C Middleton
Director
26 December 2025
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ARGYLL FM LIMITED
INDEPENDENT EXAMINER'S REPORT
TO THE DIRECTORS OF ARGYLL FM LIMITED
| report on the financial statements of the charity for the year ended 31 March 2025, which are set out on pages4 to 14.
Respective responsibilities of directors and examiner
The charity trustees (who are also the directors of Argyll FM Limited for the purposes of company law) are responsible for the
preparation of the financial statements in accordance with the terms of the Charities and Trustee Investment (Scotland) Act
2005 and the Charities Accounts (Scotland) Regulations 2006.The charity directors consider that the audit requirement of
Regulation 10(1){a)-{c) of the Charities Accounts (Scotland) Regulations 2006 does not apply.
It is my responsibility to examine the financial statements as required under section 44{1){c) of the Charities and Trustee
Investment (Scotland) Act 2005 and to state whether particular matters have come to my attention.
Basis of independent examiner's statement
My examination is carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An
examination includes a review of the accounting records kept by the charity and a comparison of the financial statements
presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements,
and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the
evidence that would be required in an audit and consequently | do not express an audit opinion on the view given by the
financial statements.
Independent examiner's statement
In the course of my examination, no matter has come to my attention
1. 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 Charities and Trustee Investment (Scotland) Act
2005 and Regulation 4 of the Charities Accounts (Scotland) Regulations 2006, and
® to prepare financial statements which accord with the accounting records and comply with Regulation 8 of the
Charities Accounts (Scotland) Regulations 2006
have not been met, or
2. to which, in my opinion, other than the matter referred to below, attention should be drawn in orderto enable a proper
understanding of the accounts to be reached.
| draw to the attention of the Trustees the accounting policy note 1.2 on page 6 of the accounts which may cast significant
doubt about the charitable company’s ability to continue as a going concern. The financial statements do not include any
adjustments that would arise if the charitable company was unable to continue as a going concern.
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lain Webster
Suite 30
Hazelburn Business Park
Milknowe
Campbeltown
Argyll
PA28 GHA
26 December 2025
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## ARGYLL FM LIMITED ## STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT ## FOR THE YEAR ENDED 31 MARCH 2025 |||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total| |---|---|---|---|---|---|---|---| |||funds|funds||funds|funds|| |||2025|2025|2025|2024|2024|2024| ||Notes|£|£|£|£|£|£| |Income from:|||||||| |Donations and legacies|3|3.244|3,000|6,244|3,214|-|3,214| |Charitable activities|4|14,033|-|14,033|23,389|-|23,389| |Investments|5|171|-|171|271|-|271| |Total income||17.448|3,000|20,448|26,874|-|26,874| |Expenditure on:|||||||| |Charitable activities|6|27,000|1,843|28,843|§2,634|963|53,597| |Other expenditure|11|305|-|305|-|-|-| |Total expenditure||27.305|1,843|29,148|§2,634|963|53,597| |Net income/{expenditure)||(9,857)|1,157|(8,700)|(25,760)|(963)|(26,723)| |Transfers between funds|||||||| ||13|1.879|(1,879)|-|-|-|-| |Net movement in funds|||||||| ||8|(7,978)|(722)|(8,700)|(25,760)|(963)|(26,723)| |Reconciliation of funds:|||||||| |Fund balances at 1 April 2024||1.187|47,863|49,050|26,947|48,826|75,773| |Fund balances at 31 March 2025|||||||| |||(6,791)|47,141|40,350|1,187|47,863|49,050| The statement offinancial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. -4- ## ARGYLL FM LIMITED ## BALANCE SHEET ## AS AT 31 MARCH 2025 |||2025||2024|| |---|---|---|---|---|---| ||Notes|£|£|£|£| |Fixed assets|||||| |Tangible assets|14||25,159||28,438| |Current assets|||||| |Debtors|15|6,427||3,470|| |Cash at bank and in hand||15,687||19,256|| |||22,114||22,726|| |Creditors: amounts falling due within one|16||||| |year||(6,923)||(2,114)|| |Net currentassets|||15,191||20,612| |Total assets less current liabilities|||40,350||49,050| |The funds ofthe charity|||||| |Restricted income funds|17||47,141||47,863| |Unrestricted funds|||(6,791)||1,187| ||||40,350||49,050| The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2025. 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 26 December 2025 J Armour Director Company registration number SC160070 (Scotland) -5- **----- Start of picture text -----**
ARGYLL FM LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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1 Accounting policies
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Charity information
Argyll FM Limited is a private company limited by guarantee incorporated in Scotland. The registered office is 27-29
Longrow, Campbeltown, ARGYLL, PA28 6ER.
1.1. Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, the Charities and
Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scatland} Regulations 2006 (as amended), FRS 102
“The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP
"Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their
accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)"
{effective 1 January 2019}. The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial stalements are prepared in slerling, which is thre funclional currency of the charily. 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. Going concern
At 31 March 2025, the charity has reserves of £40,350 of which £47,141 are restricted reserves and there is a deficit of
£6,791 on the unrestricted reserves. Included in the restricted reserves is an unspent balance of £25,000 which was
received from SSE for the installation of a transmitter at Southend. The directors are now of the view that they are
unable to plan to install that transmitter and are in the process of seeking clarification from SSE as to whether the
restricted fund need to be returned to SSE or whether the money can be re-purposed based on the fact that the charity
is in fact broadcasting to the Southend area of Kintyre.
The Charity has net current assets of £15,191 at 31 March 2025 so if SSE requires the funds to be repaid to them then
the directors would not be in a position to do that and continue operating as a going concern. Until a definitive answer
to this issue can be confirmed with SSE, this remains a material uncertainty for the charity. The directors believe that
they will be able to call upon SSE to agree to the re-purposing of the funds towards the general purposes of the charity.
Accardingly, the directors consider it appropriate to continue to prepare the accounts of the charity on a going concern
basis. The accounts do not include any adjustments to assets or liabilities that would result if the charity was unable to
continue as a going concern.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the directors in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes
and uses of the restricted 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 neasured reliably, and it is probable that income will be received.
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## ARGYLL FM LIMITED ## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 1 Accounting policies **----- Start of picture text -----**
(Continued)
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Cash donations are recagnised on receipt. Other donations are recagnised once the charity has been notified of the
donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations
received under Gift Aid or deeds of covenant is recognised at the time of the donation.
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation ta transfer economic benefit to a third party, it
is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be
measured reliably.
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Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs,
including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated
directly to that activity. Shared costs which contribute to more than one activity and support costs which are not
attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources.
Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the
asset's use.
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- 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. **----- Start of picture text -----**
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful
lives on the following bases:
Freehold land and buildings 2% straight line
Plant and equipment 33.33% straight line
The gain or Joss arising on the disposal of an asset is delermined as the difference between lhe sale proceeds and the
carrying value of the asset, and is recognised in the statement of financial activities.
1.7 Impairment of fixed assets
At each reporting end date, 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 exists, the recoverable
amount of the asset is estimated in order to determine the extent of the impairment loss {if any).
1.8 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 within borrowings in
current liabilities.
1.9 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other
Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual
provisions of the instrument.
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Financial assets and liabilities 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 basis or to realise the asset and settle the liability simultaneously. **----- Start of picture text -----**
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## ARGYLL FM LIMITED ## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 **----- Start of picture text -----**
1 Accounting policies
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(Continued)
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## Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. ## Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. **----- Start of picture text -----**
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of
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 price and
subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled.
1.10 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to
terminate the employment of an employee or to provide termination benefits.
2 Critical accounting estimates and 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 factors that are considered to be
relevant. Actual results may differ fram these 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 of
the revision and future periods where the revision affects both current and future periods.
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## ARGYLL FM LIMITED ## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 ## 3 Income from donations and legacies ||||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total| |---|---|---|---|---|---|---|---|---| ||||funds|funds||funds|funds|| ||||2025|2025|2025|2024|2024|2024| ||||£|£|£|£|£|£| |Donations|and|gifts|3.244|-|3,244|3,214|-|3,214| |Grants|||-|3,000|3,000|-|-|-| ||||3,244|3,000|6,244|3,214|-|3,214| ## 4 Income from charitable activities ||Unrestricted|Unrestricted| |---|---|---| ||funds|funds| ||2025|2024| ||£|£| |Radio station||| |Advertising sales|14,033|23,389| |Income from investments||| ||Unrestricted|Unrestricted| ||funds|funds| ||2025|2024| ||£|£| |Interestreceivable|171|271| 5 Income from investments -9- ## ARGYLL FM LIMITED ## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 ## 6 Expenditure on charitable activities |||Radio station|Radio station| |---|---|---|---| |||2025|2024| |||£|£| ||Direct costs||| ||Depreciation and impairment|5,409|10,789| ||Rent and rates|9,726|18,714| ||Repairs and studio costs|1,429|4,402| |||16,564|33,905| ||Share of support and governance costs (see note 7)||| ||Support|10,354|17,702| ||Governance|1,925|1,990| |||28,843|53,597| ||Analysis by fund||| ||Unrestricted funds|27,000|52,634| ||Restricted funds|1,843|963| |||28,843|53,597| |7|Support costs allocated to activities||| |||2025|2024| |||£|£| ||Subscriptions|4,440|7,255| ||Phone and bank charges|1,049|1,173| ||Premises insurance|2,472|3,089| ||Power, light and heating|2,139|2,376| ||Bad debt|-|2,592| ||Motor|254|1,135| ||Stationery|-|82| ||Governance costs|1,925|1,990| |||12,279|19,692| ||Analysed between:||| ||Radiostation|12,279|19,692| Governance costs comprise an amount of £1,925 paid for the independent examination of the accounts (2024: £1,990) -10- ## ARGYLL FM LIMITED ## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 **----- Start of picture text -----**
||||||||||| |---|---|---|---|---|---|---|---|---|---| |8|Net|movement|in|funds|2025|2024| |£|£| |The|net|movement|in|funds|is|stated|after|charging/(crediting):| |Fees|payable|for|the|independent|examination|of the|charity's|financial|statements| |1,925|1,990| |Depreciation|of owned|tangible|fixed|assets|5,409|10,789| |Loss|on|disposal|of tangible|fixed|assets|305|-| **----- End of picture text -----**
## 9 Directors None of the directors (or any persons connected with them) received any remuneration or benefits from the charity during the year. No directors in the year were reimbursed for expenditure for the purchase of fuel to get to the radio site (2024 : £192} ## 10 Employees The average monthly number of employees during the year was: **----- Start of picture text -----**
2025 2024
Number Number
Trustees 5 5
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There were no employees whose annual remuneration was more than £60,000. 11 Other expenditure **----- Start of picture text -----**
Unrestricted Unrestricted
funds funds
2025 2024
£ £
Net loss on disposal of tangible fixed assets 305 -
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12. Taxation The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. 13‘ Transfers The transfer from restricted funds of £1,879 to unrestricted consist of reclassification of funding (restricted) used for the purchase of equipment from A&B Council grant. -11- ## ARGYLL FM LIMITED ## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) ## FOR THE YEAR ENDED 31 MARCH 2025 ## 14 Tangible fixed assets |14|Tangible fixed assets|||| |---|---|---|---|---| |||Freehold land|Plant and|Total| |||and buildings|equipment|| |||£|£|£| ||Cost|||| ||At 1 April 2024|36,199|24,269|60,468| ||Additions|-|2,435|2,435| ||Disposals|-|(8,161)|(8,161)| ||At 31 March 2025|36,199|18,543|54,742| ||Depreciation and impairment|||| ||At1 April 2024|13,271|18,759|32,030| ||Depreciation charged in the year|724|4,685|5,409| ||Eliminated in respect of disposals|-|(7,856)|(7,856)| ||At 31 March 2025|13,995|15,588|29,583| ||Carrying amount|||| ||At 31 March 2025|22,204|2,955|25,159| ||At 31 March 2024|22,928|5,510|28,438| |15|Debtors|||| ||||2025|2024| ||Amounts falling due within one year:||£|£| ||Trade debtors||260|1,124| ||Otherdebtors||1,353|604| ||Prepayments and accrued income||4,814|1,742| ||||6,427|3,470| |16|Creditors: amounts falling due within one year|||| ||||2025|2024| ||||£|£| ||Trade creditors||4,937|124| ||Accruals and deferred income||1,986|1,990| ||||6,923|2,114| -12- ## ARGYLL FM LIMITED ## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 ## 17 _~—s#RRestricted funds The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used. ||At1 April 2024|Incoming|Resources|Transfers|At 31 March| |---|---|---|---|---|---| |||resources|expended||2025| ||£|£|£|£|£| |Big Lottery Fund - Radio station|22,863|-|(722)|-|22,141| |SSE - Southend transmitter|25,000|-|-|-|25,000| |A&B Council - Supporting|||||| |Communities|-|3,000|(1,121)|(1,879)|-| ||47 863|3,000|(1,843)|(1,879)|47,141| |Previous Period:|At 1 April 2023|Incoming|Resources|Transfers|At31 March| |||resources|expended||2024| ||£|£|£|£|£| |Big Lottery Fund - Radio station|23,826|-|(963)|-|22,863| |SSE - Southend transmitter|25,000|-|-|-|25,000| ||48,826|-|(963)|-|47,863| The brought forward balance from Big Lollery Fund of £22,141 is funding to supporl the purchase of the radio station, The brought forward balance from SSE Scotland of £25,000 is funding to provide broadcasting equipment to broadcast in South Kintyre. ## 18 Unrestricted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. ||At1 April 2024|Incoming|Resources|Transfers|At 31 March| |---|---|---|---|---|---| |||resources|expended||2025| ||£|£|£|£|£| |General funds|1,187|17,448|{27,305)|1,879|(6,791)| |Previous Period:|At 1 April 2023|Incoming|Resources|Transfers|At31 March| |||resources|expended||2024| ||£|£|£|£|£| |Generalfunds|26,947|26,874|(52,634)|-|1,187| -13- ## ARGYLL FM LIMITED ## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) ## FOR THE YEAR ENDED 31 MARCH 2025 ## 19 Analysis of net assets between funds ||Unrestricted|Restricted|Total| |---|---|---|---| ||funds|funds|| ||2025|2025|2025| ||£|£|£| |At 31 March 2025:|||| |Tangible assets|2,955|22,204|25,159| |Current assets/(liabilities)|{9,746}|24,937|15,191| ||{6,791}|47,141|40,350| ||Unrestricted|Restricted|Total| ||funds|funds|| ||2024|2024|2024| ||£|£|£| |At 31 March 2024:|||| |Tangible assets|4,612|23,826|28,438| |Current assets/(liabilities)|(3,425)|24,037|20,612| ||1,187|47,863|49,050| ## 20 ~=—s Related party transactions There were no disclosable related party transactions during the year (2024 - none). -14- This document was delivered using electronic communications and authenticated in accordance with the registrar's rules relating to electronic form, authentication and manner of delivery under section 1072 of the Companies Act 2006.