Raaj FM is the trading name of Community Development Horizons Limited. Its legal status is a ‘company limited by guarantee and not having a share capital’. The main differences between this and a standard ‘Ltd’ company is that we do not have share capital or shareholders and we do not disburse profits and instead re-invest surplus funds into the running and development of the company. Directors are also protected from any financial liability.
In the absence of ‘shareholders’ such companies are permitted to have ‘members’. Indeed it is a legal requirement to have at least two in addition to the Directors.
To enable this, Raaj FM operates a Membership Scheme. The scheme affords a number of advantages, including:
- It gives members a greater say and greater control over how Raaj FM is managed
• It provides Raaj FM a firmer and more stable financial footing from which to operate.
• It provides the opportunity for presenters to receive payment for their services