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Company registration no. 02936757

Yorkshire Radio Limited

Abbreviated Financial Statements

Year ended 30 June 2009

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A33 31/03/2010 56

COMPANIES HOUSE

Yorkshire Radio Limited

INDEPENDENT AUDITORS' REPORT TO YORKSHIRE RADIO LIMITED UNDER SECTION 449 OF THE COMPANIES ACT 2006

We have examined the abbreviated accounts set out on pages 2 to 4, together With the financial statements of Yorkshire Radio Limited for the year ended 30 June 2009 prepared under section 396 of the Companies Act 2006

Respective responsibilities of directors and auditors

The directors are responsible for prepanng the abbreviated financial statements In accordance with section 444 of the Companies Act 2006 It IS our responsibility to form an Independent opuuon as to whether the company IS entitled to deliver abbreviated financial statements to the Registrar of Companies and whether the abbreviated flnancial statements have been properly prepared In accordance with the regulations made under that section and to report our opnuon to you

This report, including the opnuon, has been prepared for and only for the company for the purpose of section 449 of the Companies Act 2006 and for no other purpose To the fullest extent permitted by law, we do not, In giVing this optruon, accept or assume responsibility for any other purpose or to any other person to whom thrs report IS shown or Into whose hands It may come save where expressly agreed by our pnor consent In wntlng

BaSIS of opinion

We conducted our work In accordance with Bulletin 2008/4 Issued by the Auditing Practices Board In accordance with that Bulletin we have earned out the procedures we consider necessary to confirm, by reference to the flnanoal statements, that the company IS entitled to deliver abbreviated flnancial statements and that the abbreviated financial statements are properly prepared

Optruon

In our opinion the company IS entitled to deliver abbreviated financial statements prepared In accordance with section 444(3) of the Companies Act 2006, and the abbreviated financial statements have been properly prepared In accordance with the regulations made under that section

Anthony Elston (Seruor Statutory Auditor)

For and on behalf of BAKER TILLY UK AUDIT LLP, Statutory Auditor Chartered Accountants

2 Whitehall Quay

Leeds

LS14HG

29th March 2010

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Yorkshire Radio Limited

BALANCE SHEET 30 June 2009

Company registration no 02936757

Fixed assets Intangible assets Tangible assets Investments

2

2009 2008
£ £
347,222 397,222
127,893 146,308
2 2
475,117 543,532
64,671 145,058
1,494 5,459
66,165 150,517
(326,129) (807,107)
(259,964) (656,590)
215,153 (113,058)
(1,841,567) (883,916)
(1,626,414) (996,974) Note

Current assets Debtors

Cash In hand

Creditors amounts falhng due within one year

Net current habthhes

Total assets less current habrhties

Creditors' amounts failing due after more than one

year 3

Net liabilities

Capital and reserves Called up share capital Profit and loss account

4

3,000 (1,629,414)

3,000 (999,974)

EqUity shareholders' deficit

(1,626,414)

(996,974)

These abbreviated financial statements have been prepared In accordance With the provisions apphcable to companies subject to the small companies regime

The abbreviated flnancial statements on pages 2 to 4 were approved by the board of directors and authonsed for Issue on 29th March 2010 and are Signed on Its behalf by

S A Harvey Director

2

Yorkshire Radio Limited

NOTES TO THE FINANCIAL STATEMENTS

1 Pnncipal accounting policies

The financial statements are prepared In accordance with applicable United Kingdom accounting standards The pnnopal accounting policies adopted by the directors are set out below

BasIs of preparation

On 1 July 2008 95% of the share capital was acquired by Leeds City Holdings limited, which has confirmed that It will provide sufficient support to ensure that the company will have sufficient resources to meet debts as they fall due dunng the next year As a result, the directors consider that It IS appropnate to prepare the accounts on the gOing concern basis

Basis of accounting

The financial statements are prepared In accordance with the historical cost convention

The accounts present information about the company as an Individual undertaking and not about Its group, as the company has taken advantage of the exemption provided by section 400 of the Companres Act 2006 not to prepare consolidated financial statements as It and Its subsidrary undertakrng IS rncluded by full consolidation In the consolidated financial statements of ItS parent, Leeds City Holdrngs Limited, a company Incorporated In England and Wales

Turnover

Turnover represents all Income ansmq from the ordinary activities of the company excluding value added tax

Intangible fixed assets

In line with FRS 10 Accountrng for Goodwill and Intangible Assets, the costs associated with the carnage agreement are capitalised as intangible fixed assets and amortised, In equal annual Instalments, over the penod of the contract which expires In 2016

Tangible fixed assets

Depreciation IS calculated to wnte off the cost of tangible fixed assets, less their estimated residual values, on a straight Irne basis over the expected useful econorruc hfe of the asset concerned, as follows

Fixtures and fittings Alterations and Improvements

5 - 10 years 10 years

Fixed asset invesbnents

Fixed asset Investments are stated at cost In the company balance sheet

Leases

There are no assets held under finance leases and hire purchase contracts

Operating lease rentals are charged to profit and loss In equal amounts over the term of the lease

Deferred taxation

Deferred tax IS provided In full on timing differences which result In an obhgabon at the balance sheet date to pay more tax, or a fight to pay less tax, at a future date, at rates expected to apply when they crystallise based on current tax rates and law Timmg differences anse from the rnclusron of Items of Income and expenditure In tax computations In penods different from those In which they are Included In financial statements Deferred tax IS not provided on timing differences ansrng from the revaluation of fixed assets where there IS no commitment to sell the asset, or on unremitted earnrngs of subsidianes and associates where there IS no commitment to remit these earnings Deferred tax assets are recognised to the extent that It IS regarded as more likely than not that they Will be recovered Deferred tax assets and liabilities are not discounted

Pension costs

The company operates a defined contnbution scheme The amount charged to the profit and loss account In respect of pension costs and other post retirement benefits IS the contnbutrons payable In the penod Differences between contnbunons payable In the year and contnbunons actually paid are shown as either accruals or prepayments In the balance sheet

3

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Yorkshire Radio Limited
NOTES TO THE FI'NANCIAL STATEMENTS
2 Tangible fixed assets
Intangible Tangible Investments
assets assets Total
£ £ £
Cost or valuation
At 1 July 2008 500,000 183,317 2 683,319
Additions 116 116
At 30 June 2009 500,000 183,433 2 683,435
Depreciation
At 1 July 2008 102,778 37,009 139,787
Charge for the year 50,000 18,531 68,531
At 30 June 09 152,778 55,540 208,318
Net book value
At 30 June 2009 347,222 127,893 2 475,117
At 30 June 2008 397,222 146,308 2 543,532 3 Creditors amounts failing due after more than one year

£1,128,916 of other loans are secured by a debenture and are secured via a fixed and floating charge over the assets and secunties of the business The debenture IS repayable Immediately as funds become available, whtch, In the opuuon of the directors, WIll be In more than one year's time

4 Called up share capital
2009 2DD8
E £
Authonsed:
500,000 Ordinary shares of £1 each 500,000 500,000
Allotted, issued and fully paid
3,000 Ordinary shares of £1 each 3,000 3,000 5 Ultimate controlling party

The directors consider that the ultimate controlling party IS FSF Limited, a company registered In Nevis

Leeds City Holdings limited IS the Immediate parent, and IS the smallest and largest group for which consolidated accounts Including Yorkshire Radio tmuted are prepared

4

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