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REGISTERED NUMBER: SC456971 (Scotland)













ELLIOTS NEWS AGENCY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021






ELLIOTS NEWS AGENCY LIMITED (REGISTERED NUMBER: SC456971)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2021










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

ELLIOTS NEWS AGENCY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2021







DIRECTORS: Mrs G Elliot
B R Elliot





REGISTERED OFFICE: 25 Tyndrum Street
Glasgow
G4 0JY





REGISTERED NUMBER: SC456971 (Scotland)





ACCOUNTANTS: Hardie Caldwell LLP
Chartered Accountants
Citypoint 2
25 Tyndrum Street
Glasgow
G4 0JY

ELLIOTS NEWS AGENCY LIMITED (REGISTERED NUMBER: SC456971)

BALANCE SHEET
31 AUGUST 2021

2021 2020
Notes £    £   
FIXED ASSETS
Intangible assets 4 12,519 16,691
Tangible assets 5 2,402 3,203
14,921 19,894

CURRENT ASSETS
Stocks 18,456 17,500
Debtors 6 4,488 9,773
Cash at bank and in hand 53,234 39,268
76,178 66,541
CREDITORS
Amounts falling due within one year 7 (61,709 ) (68,053 )
NET CURRENT ASSETS/(LIABILITIES) 14,469 (1,512 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

29,390

18,382

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 29,290 18,282
SHAREHOLDERS' FUNDS 29,390 18,382

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

ELLIOTS NEWS AGENCY LIMITED (REGISTERED NUMBER: SC456971)

BALANCE SHEET - continued
31 AUGUST 2021


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 August 2022 and were signed on its behalf by:




B R Elliot - Director



Mrs G Elliot - Director


ELLIOTS NEWS AGENCY LIMITED (REGISTERED NUMBER: SC456971)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2021


1. STATUTORY INFORMATION

Elliots News Agency Limited is a private limited company, limited by share, registered in Scotland. The company's registered number is SC456971 and its registered office is 25 Tyndrum Street, Glasgow G4 0JY.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
The directors having considered the company's working capital requirements have a reasonable expectation that the company has adequate resources to continue for the foreseeable future and accordingly the directors continue to believe the going concern basis of accounting appropriate in preparing the annual financial statements.

Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

News agents turnover is recognised when a cash sale is made to a customer.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Financial instruments
Debtors
Other debtors are recognised at the settlement amount due with appropriate allowances for any irrecoverable amounts when there is objective evidence that the asset is impaired.

Cash and cash equivalents
Cash and cash equivalents in the balance sheet comprise cash on hand and cash at bank with a short term of maturity, being twelve months or less, from the opening of the deposit or similar account.

Creditors
Trade and other creditors are recognised where the company has a present obligation resulting from a past event and are recognised at the settlement amount due after allowing for any trade discounts due.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2020 - 4 ) .

ELLIOTS NEWS AGENCY LIMITED (REGISTERED NUMBER: SC456971)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2021


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2020
and 31 August 2021 41,723
AMORTISATION
At 1 September 2020 25,032
Charge for year 4,172
At 31 August 2021 29,204
NET BOOK VALUE
At 31 August 2021 12,519
At 31 August 2020 16,691

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2020
and 31 August 2021 3,750
DEPRECIATION
At 1 September 2020 547
Charge for year 801
At 31 August 2021 1,348
NET BOOK VALUE
At 31 August 2021 2,402
At 31 August 2020 3,203

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Other debtors 4,488 9,773

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade creditors 21,965 40,754
Taxation and social security 29,465 20,013
Other creditors 10,279 7,286
61,709 68,053

ELLIOTS NEWS AGENCY LIMITED (REGISTERED NUMBER: SC456971)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2021


8. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2021 2020
value: £    £   
100 Ordinary £1 100 100

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
ELLIOTS NEWS AGENCY LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Elliots News Agency Limited for the year ended 31 August 2021 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Elliots News Agency Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Elliots News Agency Limited and state those matters that we have agreed to state to the Board of Directors of Elliots News Agency Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Elliots News Agency Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Elliots News Agency Limited. You consider that Elliots News Agency Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Elliots News Agency Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Hardie Caldwell LLP
Chartered Accountants
Citypoint 2
25 Tyndrum Street
Glasgow
G4 0JY


26 August 2022