Presenter, Megan, says: "The best thing is not having any adults. That means we can do our own thing".
Around 100 Leicestershire children get involved after school and at weekends in the production of the station, which they say is "for and by kids".
The Takeover website has a selection of broadcasts you can listen to and loads up with a message saying: "Do not adjust your planet, this is Takeover Radio", with a groovy front page picture of Harry Potter and a broomstick.
Although the broomstick looks more like a floor sweeper's favourite than a Quidditch sweeper's!
The station plans to link up with schools and help train others who want to set up their own station around the UK.