Fix Radio Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 09804949

Fix Radio Limited

Filleted Unaudited Financial Statements

31 December 2024

Fix Radio Limited

Directors' Report

Year ended 31 December 2024

The directors present their report and the unaudited financial statements of the company for the year ended 31 December 2024 .

Directors

The directors who served the company during the year were as follows:

L A Timpany
P A Chantler	(Resigned 31 March 2024)

Mark Goodier was appointed as a director on 19 May 2025.

Business review

The last 12 months has been another remarkable year of progress for Fix, with growth of 60% taking revenue to £6m and allowing the Company to trade profitably for the first time.

Listenership grew by 40% to 589,000 and Fix signed its first £1m+ contract with a customer.

In 2024 Fix set up a charity to help UK tradespeople - the Fix Foundation which is funded by the Company donating a proportion of its profit to help those less fortunate in the community.

Trading so far in 2025 has been more challenging as a result of some disappointing recruitment. This has been addressed and the quality and quantity of the commercial team strengthened. Although behind expectations we are still seeing double-digit revenue growth.

Listenership has continued to grow throughout 2025, reaching a record 725,000. We're now reaching one in four UK tradespeople every week.

The first music festival aimed at UK Tradespeople takes place on 30th August. We expect this to grow into a significant revenue and profit generator in future years but in common with events of this kind the first year will be loss-making which will impact the overall results for 2025.

Small company provisions

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

This report was approved by the board of directors on 2 September 2025 and signed on behalf of the board by:

L A Timpany

Director

Registered office:

85 Whiteladies Road

Bristol

BS8 2NT

Fix Radio Limited

Statement of Financial Position

31 December 2024

	2024	2023
Note	£	£

Fixed assets

Tangible assets	5	141,585	69,313

Current assets

Debtors	6	833,695	415,261
Cash at bank and in hand		746,134	781,213
		------------	------------
		1,579,829	1,196,474

Creditors: amounts falling due within one year	7	( 1,690,419)	( 1,426,732)
		------------	------------
Net current liabilities		( 110,590)	( 230,258)
		---------	---------
Total assets less current liabilities		30,995	( 160,945)

Creditors: amounts falling due after more than one year	8	( 9,762)	( 20,159)
		--------	---------
Net assets/(liabilities)		21,233	( 181,104)
		--------	---------

Capital and reserves

Called up share capital	2,218	2,218
Share premium account	2,642,784	2,642,784
Profit and loss account	( 2,623,769)	( 2,826,106)
	------------	------------
Shareholders funds/(deficit)	21,233	( 181,104)
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- 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 Act with respect to accounting records and the preparation of financial statements .

Fix Radio Limited

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 2 September 2025 , and are signed on behalf of the board by:

L A Timpany

Director

Company registration number: 09804949

Fix Radio Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 85 Whiteladies Road, Bristol, BS8 2NT.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Advertising revenue is recognised on transmission or display of the advertisement. Sponsorship revenue is recognised on transmission or display of the sponsored programme or web page.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and fittings	-	25% and 33% straight line
Equipment	-	33% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured 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 impairment, an impairment loss is recognised in profit or loss immediately.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 29 (2023: 19 ).

5. Tangible assets

	Fixtures and fittings	Equipment	Total
	£	£	£
Cost
At 1 January 2024	114,774	49,051	163,825
Additions	84,875	36,729	121,604
Disposals	( 1,950)	–	( 1,950)
	---------	--------	---------
At 31 December 2024	197,699	85,780	283,479
	---------	--------	---------
Depreciation
At 1 January 2024	62,906	31,606	94,512
Charge for the year	32,511	15,034	47,545
Disposals	( 163)	–	( 163)
	---------	--------	---------
At 31 December 2024	95,254	46,640	141,894
	---------	--------	---------
Carrying amount
At 31 December 2024	102,445	39,140	141,585
	---------	--------	---------
At 31 December 2023	51,868	17,445	69,313
	---------	--------	---------

6. Debtors

	2024	2023
	£	£
Trade debtors	400,970	195,631
Other debtors	432,725	219,630
	---------	---------
	833,695	415,261
	---------	---------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	10,397	10,141
Trade creditors	279,346	238,703
Social security and other taxes	409,054	304,004
Other creditors - credit card	12,275	1,993
Other creditors	979,347	871,891
	------------	------------
	1,690,419	1,426,732
	------------	------------

8. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	9,762	20,159
	-------	--------

9. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2024	2023
	£	£
Not later than 1 year	8,923	8,236
Later than 1 year and not later than 5 years	6,863	15,786
	--------	--------
	15,786	24,022
	--------	--------

10. Directors' advances, credits and guarantees

At the year end the directors owed the company £21,326 which was all repaid after the year end.(2023: £31,534).

11. Related party transactions

Other creditors include short term loans from certain shareholders of £nil (2023: £37,264).