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REGISTERED NUMBER: 11296455 (England and Wales)















Financial Statements for the Year Ended 30th April 2022

for

NEW M K NEWS LIMITED

NEW M K NEWS LIMITED (Registered number: 11296455)

Contents of the Financial Statements
for the Year Ended 30th April 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


NEW M K NEWS LIMITED

Company Information
for the Year Ended 30th April 2022







DIRECTOR: MRS P KAUR





SECRETARY:





REGISTERED OFFICE: 111 VICRAGE ROAD
WEST BROMWICH
BIRMINGHAM
West Midlands
B71 1AH





REGISTERED NUMBER: 11296455 (England and Wales)





ACCOUNTANT: A K & Co Accountants
732 Walsall Road
Great Barr
Birmingham
West Midlands
B42 1EX

NEW M K NEWS LIMITED (Registered number: 11296455)

Balance Sheet
30th April 2022

30.4.22 30.4.21
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 4,076 5,607

CURRENT ASSETS
Inventories 5 33,789 21,667
Cash at bank and in hand 14,408 38,651
48,197 60,318
CREDITORS
Amounts falling due within one year 6 28,050 36,282
NET CURRENT ASSETS 20,147 24,036
TOTAL ASSETS LESS CURRENT
LIABILITIES

24,223

29,643

CAPITAL AND RESERVES
Called up share capital 7 1 10
Retained earnings 8 24,222 29,633
SHAREHOLDERS' FUNDS 24,223 29,643

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

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 director and authorised for issue on 20th August 2022 and were signed by:




MRS P KAUR - Director


NEW M K NEWS LIMITED (Registered number: 11296455)

Notes to the Financial Statements
for the Year Ended 30th April 2022


1. STATUTORY INFORMATION

NEW M K NEWS LIMITED is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

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

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

Fixtures and fittings 15% pa on reducing balance

Motor vehicles 25% pa on reducing balance

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

NEW M K NEWS LIMITED (Registered number: 11296455)

Notes to the Financial Statements - continued
for the Year Ended 30th April 2022


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1st May 2021
and 30th April 2022 5,450 4,750 10,200
DEPRECIATION
At 1st May 2021 2,454 2,139 4,593
Charge for year 818 713 1,531
At 30th April 2022 3,272 2,852 6,124
NET BOOK VALUE
At 30th April 2022 2,178 1,898 4,076
At 30th April 2021 2,996 2,611 5,607

5. INVENTORIES
30.4.22 30.4.21
£    £   
Stocks 33,789 21,667

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.22 30.4.21
£    £   
Trade creditors 10,778 11,449
Tax - 1,833
Social security and other taxes 823 6,601
Directors' current accounts 15,199 15,199
Accrued expenses 1,250 1,200
28,050 36,282

7. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 30.4.22 30.4.21
value: £    £   
1 ORDINARY SHARE CAPITAL £1 1 10

1 ORDINARY SHARE CAPITAL share of £1 was allotted and fully paid for cash at par during the year.

NEW M K NEWS LIMITED (Registered number: 11296455)

Notes to the Financial Statements - continued
for the Year Ended 30th April 2022


8. RESERVES
Retained
earnings
£   

At 1st May 2021 29,633
Deficit for the year (5,411 )
At 30th April 2022 24,222