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REGISTERED NUMBER: 02224522 (England and Wales)












REPORT OF THE DIRECTOR AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MAY 2023

FOR

STANSTED NEWS LIMITED

STANSTED NEWS LIMITED (REGISTERED NUMBER: 02224522)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2023




Page

Company Information 1

Report of the Director 2

Balance Sheet 3

Notes to the Financial Statements 5


STANSTED NEWS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MAY 2023







DIRECTOR: D I Wright





SECRETARY: D I Wright





REGISTERED OFFICE: 134 South Street
Bishops Stortford
Hertfordshire
CM23 2BQ





REGISTERED NUMBER: 02224522 (England and Wales)





ACCOUNTANTS: Cook and Partners Limited
Chartered Accountants
32 Rye Street
Bishop's Stortford
Hertfordshire
CM23 2HG

STANSTED NEWS LIMITED (REGISTERED NUMBER: 02224522)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 31ST MAY 2023

The director presents his report with the financial statements of the company for the year ended 31st May 2023.

DIRECTOR
D I Wright held office during the whole of the period from 1st June 2022 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





D I Wright - Secretary


4th October 2023

STANSTED NEWS LIMITED (REGISTERED NUMBER: 02224522)

BALANCE SHEET
31ST MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 16,016 12,573
Investments 5 10 10
16,026 12,583

CURRENT ASSETS
Stocks 9,639 8,733
Debtors 6 347,291 435,685
Cash at bank 2,179 13,406
359,109 457,824
CREDITORS
Amounts falling due within one year 7 219,250 248,958
NET CURRENT ASSETS 139,859 208,866
TOTAL ASSETS LESS CURRENT
LIABILITIES

155,885

221,449

CREDITORS
Amounts falling due after more than one
year

8

(20,754

)

(30,749

)

PROVISIONS FOR LIABILITIES (2,812 ) (2,108 )
NET ASSETS 132,319 188,592

CAPITAL AND RESERVES
Called up share capital 25,269 25,269
Retained earnings 107,050 163,323
SHAREHOLDERS' FUNDS 132,319 188,592

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

STANSTED NEWS LIMITED (REGISTERED NUMBER: 02224522)

BALANCE SHEET - continued
31ST MAY 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 4th October 2023 and were signed by:





D I Wright - Director


STANSTED NEWS LIMITED (REGISTERED NUMBER: 02224522)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2023

1. STATUTORY INFORMATION

Stansted 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

Accounting convention
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 Justification
The directors have assessed various factors and risks affecting the company and its ability in these difficult economic times to continue to trade as a going concern. The directors have not identified any material uncertainties or risks related to events or conditions that could affect the carrying values of the company's assets and liabilities as at the balance sheet date. Therefore the financial statements for the year ended 31 May 2023 have been prepared using the going concern basis of accounting.

Revenue
Revenue - Described as turnover - is the value of goods (net of VAT) provided to customers during the year,

Revenue is recognised on the sale of goods when the goods are delivered and title has passed.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Investments in associates
Investments in associate undertakings are recognised at cost.

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


STANSTED NEWS LIMITED (REGISTERED NUMBER: 02224522)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2023

2. ACCOUNTING POLICIES - continued
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.

Pension costs
The company operates a defined contribution scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension costs charge represents contributions payable for the period by the company to the fund.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2022 - 20 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1st June 2022 101,812 19,571 175,132 296,515
Additions 601 - 6,309 6,910
At 31st May 2023 102,413 19,571 181,441 303,425
DEPRECIATION
At 1st June 2022 101,455 18,635 163,852 283,942
Charge for year 127 234 3,106 3,467
At 31st May 2023 101,582 18,869 166,958 287,409
NET BOOK VALUE
At 31st May 2023 831 702 14,483 16,016
At 31st May 2022 357 936 11,280 12,573

5. FIXED ASSET INVESTMENTS
Interest
in
associate
£   
COST
At 1st June 2022
and 31st May 2023 10
NET BOOK VALUE
At 31st May 2023 10
At 31st May 2022 10

STANSTED NEWS LIMITED (REGISTERED NUMBER: 02224522)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 203,302 231,488
Other debtors 142,571 202,902
Prepayments and accrued income 1,418 1,295
347,291 435,685



7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,994 9,746
Trade creditors 34,940 53,633
Taxation 9,806 17,689
Social security and other taxes 9,040 9,592
VAT 8,764 5,558
Other creditors 39,298 38,802
Directors' loan accounts 255 131
Accrued expenses 107,153 113,807
219,250 248,958

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 10,246 9,994
Bank loans - 2-5 years 10,508 20,755
20,754 30,749

9. GUARANTEES AND OTHER FINANCIAL COMMITMENTS

The company had total guarantees and commitments at the year end of £119,664 (2021: £148,383).