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REGISTERED NUMBER: 05265112 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

FOR

EXPRESS FM (PORTSMOUTH) LIMITED

EXPRESS FM (PORTSMOUTH) LIMITED (REGISTERED NUMBER: 05265112)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


EXPRESS FM (PORTSMOUTH) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: C Buggy
Ms J M Chandler
Ms G Lacey
Ms E C Winstone
Mr M G Stevenson





SECRETARY: C R Carnegy





REGISTERED OFFICE: Eldon Building
Winston Churchill Avenue
Portsmouth
Hampshire
PO1 2DJ





REGISTERED NUMBER: 05265112 (England and Wales)





ACCOUNTANTS: Fawcetts LLP
Chartered Accountants
Windover House
St. Ann Street
Salisbury
SP1 2DR

EXPRESS FM (PORTSMOUTH) LIMITED (REGISTERED NUMBER: 05265112)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Debtors 5 7,905 5,579
Cash at bank 35,972 40,570
43,877 46,149
CREDITORS
Amounts falling due within one year 6 10,994 14,567
NET CURRENT ASSETS 32,883 31,582
TOTAL ASSETS LESS CURRENT LIABILITIES 32,883 31,582

RESERVES
Income and expenditure account 32,883 31,582
32,883 31,582

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 November 2024 and were signed on its behalf by:





Ms J M Chandler - Director


EXPRESS FM (PORTSMOUTH) LIMITED (REGISTERED NUMBER: 05265112)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024


1. STATUTORY INFORMATION

Express FM (Portsmouth) Limited is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis and are presented in Sterling (£) which is the functional currency of the company.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover
Income represents grants, donations, service level agreements with local educational and community establishments and advertising revenue net of value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Computer equipment - 33% on cost

Taxation
The company is a not for profit organisation and therefore is not subject to corporation tax.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Other grants
Revenue grants are credited to income so as to match them with the expenditure to which they relate.

Debtors
Debtors are measured at their recoverable amount.

Creditors and provisions
Creditors and provisions are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 7 ) .

EXPRESS FM (PORTSMOUTH) LIMITED (REGISTERED NUMBER: 05265112)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2023
and 31 July 2024 95,082
DEPRECIATION
At 1 August 2023
and 31 July 2024 95,082
NET BOOK VALUE
At 31 July 2024 -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,830 -
Other debtors 6,075 5,579
7,905 5,579

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors - 4,043
Taxation and social security 3,257 1,794
Other creditors 7,737 8,730
10,994 14,567

7. RELATED PARTY DISCLOSURES

Controlling entity

In the opinion of the directors, the company is not under the control of any other entity or individual.

EXPRESS FM (PORTSMOUTH) LIMITED (REGISTERED NUMBER: 05265112)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


8. COMPANY STATUS

The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £10 towards the assets of the company in the event of liquidation.

The company's Articles of Association specify that any income and property must be applied to the promotion of the objects of the company and cannot be distributed directly or indirectly by way of dividend, bonus or other distribution to the members of the company.

In the event of the dissolution of the company, any surplus remaining shall be given or transferred to another
association or body having objectives similar to those of the company.