ACCOUNTS - Final Accounts

Commitments under operating leases

At 31 March 2026 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

Company registration number: 02990041

	FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 MARCH 2026

	JOINT RADIO COMPANY LIMITED


JOINT RADIO COMPANY LIMITED

CONTENTS

	Page
Statement of Financial Position	1
Statement of Changes in Equity	2
Notes to the Financial Statements	3 - 7


JOINT RADIO COMPANY LIMITED REGISTERED NUMBER:02990041

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2026

		2026		2025
Note		£		£

Fixed assets
Tangible assets	4		2,987		3,570
Investments	5		1,110,127		1,003,774
			1,113,114		1,007,344
Current assets
Debtors: amounts falling due within one year	6	1,118,955		998,559
Cash at bank and in hand		2,938,561		2,555,674
		4,057,516		3,554,233
Creditors: amounts falling due within one year	7	(1,794,497)		(1,561,300)
Net current assets			2,263,019		1,992,933
Total assets less current liabilities			3,376,133		3,000,277

Net assets			3,376,133		3,000,277

Capital and reserves
Called up share capital	2	2
Contributors fund	2,340,169	2,161,317
Profit and loss account	1,035,962	838,958
	3,376,133	3,000,277

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................

M Dunk

Director

Date: 18 August 2026

The notes on pages 3 to 7 form part of these financial statements.

Page 1


JOINT RADIO COMPANY LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 MARCH 2026

	Called up share capital	Contributors fund	Profit and loss account	Total equity
	£	£	£	£
At 1 April 2024	2	1,864,723	699,631	2,564,356

Profit for the year	-	-	435,921	435,921
Transfer to/from profit and loss account	-	296,594	(296,594)	-

At 1 April 2025	2	2,161,317	838,958	3,000,277

Profit for the year	-	-	375,856	375,856
Transfer to/from profit and loss account	-	178,852	(178,852)	-
At 31 March 2026	2	2,340,169	1,035,962	3,376,133

The notes on pages 3 to 7 form part of these financial statements.

Page 2


JOINT RADIO COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

1.	General information

Joint Radio Company Limited is a private company limited by shares, incorporated and domiciled in England & Wales. Details of its registered office can be found on the company information page of the financial statements.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. 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 following principal accounting policies have been applied:

2.2

Turnover

The turnover shown in the Income Statement represents amounts receivable for member subscriptions, radio license fee income and the provision of various consultancy and other services, net of VAT.

All income is matched to the period to which it relates based on the period to which the member subscriptions and radio license fees run and the date on which the consultancy and other services are completed.

2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Equipment

33% on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.4

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Page 3


JOINT RADIO COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

2.Accounting policies (continued)

2.5

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP and is rounded to the nearest £.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

2.6

Operating leases

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

2.8

Taxation

As agreed with HMRC, the Company has been treated as a mutual trading company from 1 April 2007 therefore it is liable to taxation on profits arising from non-mutual income streams only.

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

2.9

Valuation of investments

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

Page 4


JOINT RADIO COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

Employees

The average monthly number of employees, including directors, during the year was 17 (2025 - 16).

4.	Tangible fixed assets

		Equipment
		£
	Cost or valuation
	At 1 April 2025	74,056
	Additions	2,114
	Disposals	(27,401)
	At 31 March 2026	48,769
	Depreciation
	At 1 April 2025	70,486
	Charge for the year on owned assets	2,697
	Disposals	(27,401)
	At 31 March 2026	45,782
	Net book value
	At 31 March 2026	2,987
	At 31 March 2025	3,570

5.	Fixed asset investments

		Listed investments
		£
	Cost or valuation
	At 1 April 2025	1,003,774
	Additions	50,393
	Disposals	(25,865)
	Revaluations	92,390
	Other movements	(10,565)
	At 31 March 2026	1,110,127

Page 5


JOINT RADIO COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

Debtors

					2026	2025
					£	£


Trade debtors	70,625	29,428
Prepayments and accrued income	1,042,237	965,303
VAT recoverable	6,093	3,828
	1,118,955	998,559

7.	Creditors: Amounts falling due within one year
		2026	2025
		£	£

Trade creditors	700,306	512,586
Corporation tax	31,809	30,996
Other taxation and social security	29,067	15,243
Other creditors	3,506	7,468
Accruals and deferred income	1,029,809	995,007
	1,794,497	1,561,300

Not later than 1 year	13,288	19,931
Later than 1 year and not later than 5 years	-	13,288
	13,288	33,219

9.	Contributors fund

A special resolution was passed on 13 March 2008 to alter the company's Articles of Association in order to establish a 'Contributors Fund' for members subscribing to the Company's Services ('contributors'). The Contributors Fund is solely owned and operated by the contributors to the fund and the surplus is only payable to the contributors on winding up, accordingly it is a non distributable reserve.

The profit or loss attributable to members for each accounting period is to be transferred to the Contributors Fund.

Page 6


JOINT RADIO COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

10.	Auditor's information

The auditor's report on the financial statements for the year ended 31 March 2026 was unqualified.

The audit report was signed on 18 August 2026 by Sophie Said FCA (Senior Statutory Auditor) on behalf of Menzies LLP.

Page 7