Company registration number 02828195 (England and Wales)
VERULAM COMMUNITY RADIO LTD
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Faulkner House
Victoria Street
Rayner Essex LLP
St Albans
Chartered Accountants
Hertfordshire
AL1 3SE
VERULAM COMMUNITY RADIO LTD
CONTENTS
Page
Directors' report
1
Profit and loss account
3
Balance sheet
4
Notes to the financial statements
5 - 7
VERULAM COMMUNITY RADIO LTD
COMPANY INFORMATION
Directors
Mr N S Hazell
Ms E O'Meara
Ms A Adi
Ms E J Lovell
(Appointed 18 June 2024)
Mr M L Naylor
(Appointed 18 June 2024)
Mr I J Pritchard
(Appointed 18 June 2024)
Company number
02828195
Registered office
Suite 3
Stanta Business Centre
3 Soothouse Spring
St Albans
Hertfordshire
AL3 6PF
Accountants
Rayner Essex LLP
Faulkner House
Victoria Street
St Albans
Hertfordshire
AL1 3SE
VERULAM COMMUNITY RADIO LTD
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 1 -

The directors present their annual report and financial statements for the year ended 30 September 2024.

Principal activities

The principal activity of the company continues to be provision of a locally focused community radio station.

 

As a volunteer based organisation we rely on our dedicated volunteers to provide interesting locally sourced and focused radio content. Volunteers engage with our local Hertfordshire community, and provide support to the station in many ways, including providing services for free, for which we are hugely grateful.

 

However, the environment is tough, and it is challenging to gain new advertisers and sponsors. We remain grateful to our current sponsors, advertisers and donors, and are committed to gaining more. We are comfortable in our premises and usage of our studio is high.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr N S Hazell
Ms E O'Meara
Mr P Corrigan
(Resigned 16 July 2024)
Ms A Adi
Mr M Ali
(Resigned 25 January 2024)
Ms E J Lovell
(Appointed 18 June 2024)
Mr M L Naylor
(Appointed 18 June 2024)
Mr I J Pritchard
(Appointed 18 June 2024)
Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
Ms E O'Meara
Director
23 May 2025
VERULAM COMMUNITY RADIO LTD
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 2 -

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

 

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

 

 

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

VERULAM COMMUNITY RADIO LTD
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -
2024
2023
Notes
£
£
Turnover
30,017
33,959
Cost of sales
(5,854)
(5,392)
Gross profit
24,163
28,567
Administrative expenses
(43,030)
(44,762)
Other operating income
8,562
5,055
Operating loss
(10,305)
(11,140)
Interest receivable and similar income
666
121
Loss before taxation
(9,639)
(11,019)
Tax on loss
-
0
-
0
Loss for the financial year
(9,639)
(11,019)

The Profit And Loss Account has been prepared on the basis that all operations are continuing operations.

 

There are no recognised gains and losses other than those passing through the profit and loss account.

VERULAM COMMUNITY RADIO LTD
BALANCE SHEET
AS AT 30 SEPTEMBER 2024
30 September 2024
- 4 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
11,544
15,232
Current assets
Debtors
4
8,579
9,661
Cash at bank and in hand
42,831
48,759
51,410
58,420
Creditors: amounts falling due within one year
5
(3,003)
(4,062)
Net current assets
48,407
54,358
Net assets
59,951
69,590
Capital and reserves
Called up share capital
-
0
-
0
Profit and loss reserves
59,951
69,590
Total equity
59,951
69,590

For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

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.

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 board of directors and authorised for issue on 23 May 2025 and are signed on its behalf by:
Ms E O'Meara
Director
Company registration number 02828195 (England and Wales)
VERULAM COMMUNITY RADIO LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 5 -
1
Accounting policies
Company information

Verulam Community Radio Ltd is a private company limited by guarantee incorporated in England and Wales. The registered office is Suite 3, Stanta Business Centre, 3 Soothouse Spring, St Albans, Hertfordshire, AL3 6PF.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. 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
Turnover

Turnover represents amounts receivable from sponsorship and advertising.

1.3
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.

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:

Plant and machinery
25% Straight Line
Fixtures, fittings & equipment
20% Straight Line
1.4
Impairment of fixed assets

At each reporting period end date, the company 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). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.5
Leases

Rentals payable under operating leases are charged to income on a straight line basis over the term of the relevant lease.

VERULAM COMMUNITY RADIO LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 6 -
2
Employees

The average monthly number of persons employed by the company during the year was:

2024
2023
Number
Number
Total
-
0
-
0
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2023
99,765
Disposals
(500)
At 30 September 2024
99,265
Depreciation and impairment
At 1 October 2023
84,533
Depreciation charged in the year
3,688
Eliminated in respect of disposals
(500)
At 30 September 2024
87,721
Carrying amount
At 30 September 2024
11,544
At 30 September 2023
15,232
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
6,778
9,661
Other debtors
1,801
-
0
8,579
9,661
VERULAM COMMUNITY RADIO LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 7 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Taxation and social security
35
155
Other creditors
2,968
3,907
3,003
4,062
6
Control

In the members opinion there is no ultimate controlling party.

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