REGISTERED NUMBER: |
ELLIOTS NEWS AGENCY LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2021 |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 |
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 |
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 |
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 |
Tangible fixed assets |
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 |
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 |
AMORTISATION |
At 1 September 2020 |
Charge for year |
At 31 August 2021 |
NET BOOK VALUE |
At 31 August 2021 |
At 31 August 2020 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 September 2020 |
and 31 August 2021 |
DEPRECIATION |
At 1 September 2020 |
Charge for year |
At 31 August 2021 |
NET BOOK VALUE |
At 31 August 2021 |
At 31 August 2020 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
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: | £ | £ |
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. |
Chartered Accountants |
Citypoint 2 |
25 Tyndrum Street |
Glasgow |
G4 0JY |