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REGISTERED COMPANY NUMBER: 05328215 (England and Wales)
REGISTERED CHARITY NUMBER: 1138441














Report of the Trustees and

Unaudited Financial Statements for the Year Ended 30 June 2024

for

Angel Radio Limited

Angel Radio Limited






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Report of the Trustees 1 to 2

Independent Examiner's Report 3

Statement of Financial Activities 4

Statement of Financial Position 5 to 6

Notes to the Financial Statements 7 to 12

Angel Radio Limited (Registered number: 05328215)

Report of the Trustees
for the Year Ended 30 June 2024


The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 June 2024. The trustees have adopted the provisions of 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
Objectives and aims
The main object of the charity is to relieve people aged 60 and over in Hampshire who are in need, by reason of age illness, disability or other circumstances, by the provision of a nostalgia radio station.

ACHIEVEMENT AND PERFORMANCE
Angel Radio was the very first radio station in the UK to develop and broadcast using DAB+ and now it has become the norm for most UK stations using small scale digital multiplexes.

Angel Radio has continued to expand its geographical coverage of the UK and is now included in over 40 licences for DAB multiplexes around the UK. In this period a new FM transmitter was acquired allowing for considerable additional coverage.

The principal funding comes from regular donations from listeners and grants from local councils and other organisations. Donated nostalgia items are also sold via ebay to raise funds for the station. The charity is very lucky to have a large membership of volunteers who help to run the radio station by producing broadcasts, manning reception and various other necessary roles.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of new trustees
The Directors of the Company are also the trustees of the charity for the purposes of charity law. There is no minimum or maximum length of service and all trustees have a basic review into their background.

Decision making
The Board of Trustees aim to meet each quarter to consider directions, key strategies and overall performance. The day to day management of the radio station is carried out by the Station Manager. Quarterly returns are produced for various regulating bodies and the Station Manager reports back to the Trustees at each quarterly meeting.

Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
05328215 (England and Wales)

Registered Charity number
1138441

Angel Radio Limited (Registered number: 05328215)

Report of the Trustees
for the Year Ended 30 June 2024

Registered office
17 Market Parade
Havant
Hampshire
PO9 1PY

Trustees
C Baumann Director
Mrs A Billingsley Director (resigned 12.2.24)
Mrs J Ivemy Director (resigned 11.1.25)
Miss V J Rogers Company Director
M S Ross Company Director
A Smith Company Director
Ms C K T Jones Model (appointed 1.4.24)

Company Secretary

Independent Examiner
Mrs J G Vince FCA
KT Accountants Limited
Castle Farm Barn North
Denmead Road
Southwick
Hampshire
PO17 6EX

Approved by order of the board of trustees on 25 March 2025 and signed on its behalf by:





A Smith - Trustee

Independent Examiner's Report to the Trustees of
Angel Radio Limited

Independent examiner's report to the trustees of Angel Radio Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 June 2024.

Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.








Mrs J G Vince FCA
The Institute of Chartered Accountants in England and Wales

KT Accountants Limited
Castle Farm Barn North
Denmead Road
Southwick
Hampshire
PO17 6EX

25 March 2025

Angel Radio Limited

Statement of Financial Activities
for the Year Ended 30 June 2024

30.6.24 30.6.23
Unrestricted Restricted Total Total
fund fund funds funds
Notes £    £    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 102,478 - 102,478 105,154

Other trading activities 2 30,898 - 30,898 31,176
Investment income 3 15 - 15 -
Total 133,391 - 133,391 136,330

EXPENDITURE ON
Trading costs 14,883 - 14,883 9,051

Studio costs
Studio costs 103,343 - 103,343 175,710

Administrative costs 53,483 - 53,483 40,908
Total 171,709 - 171,709 225,669

NET INCOME/(EXPENDITURE) (38,318 ) - (38,318 ) (89,339 )


RECONCILIATION OF FUNDS
Total funds brought forward 33,387 - 33,387 122,726

TOTAL FUNDS CARRIED FORWARD (4,931 ) - (4,931 ) 33,387

Angel Radio Limited (Registered number: 05328215)

Statement of Financial Position
30 June 2024

30.6.24 30.6.23
Unrestricted Restricted Total Total
fund fund funds funds
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 8 5,752 - 5,752 7,670

CURRENT ASSETS
Debtors 9 20,304 - 20,304 39,589
Cash at bank and in hand 5,455 - 5,455 3,991
25,759 - 25,759 43,580

CREDITORS
Amounts falling due within one year 10 (36,442 ) - (36,442 ) (17,863 )

NET CURRENT ASSETS/(LIABILITIES) (10,683 ) - (10,683 ) 25,717

TOTAL ASSETS LESS CURRENT
LIABILITIES

(4,931

)

-

(4,931

)

33,387

NET ASSETS (4,931 ) - (4,931 ) 33,387
FUNDS 11
Unrestricted funds (4,931 ) 33,387
TOTAL FUNDS (4,931 ) 33,387

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.


The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.


The trustees acknowledge their responsibilities for
(a)ensuring that the charitable company keeps accounting records that 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 charitable 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 charitable company.


Angel Radio Limited (Registered number: 05328215)

Statement of Financial Position - continued
30 June 2024

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.


The financial statements were approved by the Board of Trustees and authorised for issue on 25 March 2025 and were signed on its behalf by:





A Smith - Trustee

Angel Radio Limited

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure
Liabilities are recognised as expenditure as soon 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 obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

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 - 25% on reducing balance

Taxation
The charity is exempt from corporation 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 funds can only be used for particular restricted purposes within the objects 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.


Angel Radio Limited

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. OTHER TRADING ACTIVITIES
30.6.24 30.6.23
£    £   
Shop income 1,380 3,574
Sponsorships and advertising 29,518 27,602
30,898 31,176

3. INVESTMENT INCOME
30.6.24 30.6.23
£    £   
Deposit account interest 15 -

4. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

30.6.24 30.6.23
£    £   
Depreciation - owned assets 1,918 2,557

5. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30 June 2024 nor for the year ended 30 June 2023.


Trustees' expenses

There were no trustees' expenses paid for the year ended 30 June 2024 nor for the year ended 30 June 2023.


6. STAFF COSTS

The average monthly number of employees during the year was as follows:

30.6.24 30.6.23
Support 1 1

No employees received emoluments in excess of £60,000.


Angel Radio Limited

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
fund fund funds
£    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 105,154 - 105,154

Other trading activities 31,176 - 31,176
Total 136,330 - 136,330

EXPENDITURE ON
Trading costs 9,051 - 9,051

Studio costs
Studio costs 84,679 91,031 175,710

Administrative costs 40,908 - 40,908
Total 134,638 91,031 225,669

NET INCOME/(EXPENDITURE) 1,692 (91,031 ) (89,339 )


RECONCILIATION OF FUNDS
Total funds brought forward 31,695 91,031 122,726

TOTAL FUNDS CARRIED
FORWARD

33,387

-

33,387

8. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 July 2023 and 30 June 2024 10,227
DEPRECIATION
At 1 July 2023 2,557
Charge for year 1,918
At 30 June 2024 4,475
NET BOOK VALUE
At 30 June 2024 5,752
At 30 June 2023 7,670

Angel Radio Limited

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Other debtors 17,393 29,516
VAT 2,911 10,073
20,304 39,589

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade creditors 35,805 9,346
Other creditors 637 8,517
36,442 17,863

11. MOVEMENT IN FUNDS
Net
movement At
At 1.7.23 in funds 30.6.24
£    £    £   
Unrestricted funds
General fund 33,387 (38,318 ) (4,931 )

TOTAL FUNDS 33,387 (38,318 ) (4,931 )

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 133,391 (171,709 ) (38,318 )

TOTAL FUNDS 133,391 (171,709 ) (38,318 )


Angel Radio Limited

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

11. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net
movement At
At 1.7.22 in funds 30.6.23
£    £    £   
Unrestricted funds
General fund 31,695 1,692 33,387

Restricted funds
Restricted funds 91,031 (91,031 ) -

TOTAL FUNDS 122,726 (89,339 ) 33,387

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 136,330 (134,638 ) 1,692

Restricted funds
Restricted funds - (91,031 ) (91,031 )

TOTAL FUNDS 136,330 (225,669 ) (89,339 )

A current year 12 months and prior year 12 months combined position is as follows:

Net
movement At
At 1.7.22 in funds 30.6.24
£    £    £   
Unrestricted funds
General fund 31,695 (36,626 ) (4,931 )

Restricted funds
Restricted funds 91,031 (91,031 ) -

TOTAL FUNDS 122,726 (127,657 ) (4,931 )

Angel Radio Limited

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

11. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 269,721 (306,347 ) (36,626 )

Restricted funds
Restricted funds - (91,031 ) (91,031 )

TOTAL FUNDS 269,721 (397,378 ) (127,657 )

12. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 30 June 2024.