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REGISTERED NUMBER: 01294454 (England and Wales)


















Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Thames News Services Limited

Thames News Services Limited (Registered number: 01294454)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 9

Thames News Services Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: D Treadwell
J J Treadwell
M S Treadwell
S Treadwell





REGISTERED OFFICE: Lakeview House
4 Woodbrook Crescent
Billericay
Essex
CM12 0EQ





REGISTERED NUMBER: 01294454 (England and Wales)





ACCOUNTANTS: Mudd Partners LLP
Chartered Accountants
Lakeview House
4 Woodbrook Crescent
Billericay
Essex
CM12 0EQ

Thames News Services Limited (Registered number: 01294454)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,800,415 2,892,049
Investments 5 1,000 1,000
3,801,415 2,893,049

CURRENT ASSETS
Stocks 14,000 14,000
Debtors 6 1,859,364 1,762,591
Cash at bank and in hand 318,484 275,828
2,191,848 2,052,419
CREDITORS
Amounts falling due within one year 7 855,677 713,772
NET CURRENT ASSETS 1,336,171 1,338,647
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,137,586

4,231,696

CREDITORS
Amounts falling due after more than one
year

8

(151,377

)

(109,312

)

PROVISIONS FOR LIABILITIES (371,176 ) (170,087 )
NET ASSETS 4,615,033 3,952,297

CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Fair value reserve 11 1,107,417 384,603
Retained earnings 3,506,616 3,566,694
SHAREHOLDERS' FUNDS 4,615,033 3,952,297

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

Thames News Services Limited (Registered number: 01294454)

Balance Sheet - continued
31 March 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 November 2023 and were signed on its behalf by:





D Treadwell - Director


Thames News Services Limited (Registered number: 01294454)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Thames News Services 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 as modified by the revaluation of certain assets.

Preparation of consolidated financial statements
The financial statements contain information about Thames News Services Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover represents the value of sales to customers, net of discounts, allowances, volume and promotional rebates and other payments to customers and excludes VAT. Sale of goods are recognised when the company has delivered product to the customer, the customer has accepted the products and collectability of the related receivable is reasonably assured.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - not depreciated
Plant and machinery - 12.5% on cost and 10% on cost
Fixtures and fittings - 25% on cost, 25% on reducing balance and 4% straight line
Motor vehicles - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks 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.

Thames News Services Limited (Registered number: 01294454)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 67 (2022 - 58 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST OR VALUATION
At 1 April 2022 2,123,972 856,743 295,522 208,106 3,484,343
Additions - - - 174,333 174,333
Revaluations 876,028 - - - 876,028
At 31 March 2023 3,000,000 856,743 295,522 382,439 4,534,704
DEPRECIATION
At 1 April 2022 - 287,693 254,499 50,102 592,294
Charge for year - 87,163 4,918 49,914 141,995
At 31 March 2023 - 374,856 259,417 100,016 734,289
NET BOOK VALUE
At 31 March 2023 3,000,000 481,887 36,105 282,423 3,800,415
At 31 March 2022 2,123,972 569,050 41,023 158,004 2,892,049

Cost or valuation at 31 March 2023 is represented by:

Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
Valuation in 2017 384,603 - - - 384,603
Valuation in 2022 876,028 - - - 876,028
Cost 1,739,369 856,743 295,522 382,439 3,274,073
3,000,000 856,743 295,522 382,439 4,534,704

Thames News Services Limited (Registered number: 01294454)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS - continued

If freehold property had not been revalued it would have been included at the following historical cost:

31.3.23 31.3.22
£    £   
Cost 1,615,397 1,615,397

Value of land in freehold land and buildings 3,000,000 2,000,000

Freehold property was valued on an open market basis on 31 March 2023 by the directors .

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST OR VALUATION
At 1 April 2022 - 163,300 163,300
Additions - 134,000 134,000
Reclassification/transfer 530,950 - 530,950
At 31 March 2023 530,950 297,300 828,250
DEPRECIATION
At 1 April 2022 - 6,327 6,327
Charge for year 53,100 46,183 99,283
Reclassification/transfer 212,843 - 212,843
At 31 March 2023 265,943 52,510 318,453
NET BOOK VALUE
At 31 March 2023 265,007 244,790 509,797
At 31 March 2022 - 156,973 156,973

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2022
and 31 March 2023 1,000
NET BOOK VALUE
At 31 March 2023 1,000
At 31 March 2022 1,000

Thames News Services Limited (Registered number: 01294454)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

6. DEBTORS
31.3.23 31.3.22
£    £   
Amounts falling due within one year:
Trade debtors 836,611 687,617
Other debtors 7,381 23,479
Directors' current accounts 300 300
Tax 98 16,225
Deferred tax asset - 3,702
Prepayments and accrued income 265,972 216,750
Prepayments 146,083 199,701
1,256,445 1,147,774

Amounts falling due after more than one year:
Amounts owed by associates 602,919 614,817

Aggregate amounts 1,859,364 1,762,591

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Hire purchase contracts 153,281 49,766
Trade creditors 357,654 363,049
Amounts owed to group undertakings 67,325 107,132
Tax 4 -
Social security and other taxes 59,046 43,098
VAT 197,565 107,153
Other creditors 11,802 10,770
Accrued expenses 9,000 32,804
855,677 713,772

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Hire purchase contracts 151,377 109,312

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Hire purchase contracts 304,658 159,078

Thames News Services Limited (Registered number: 01294454)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
1,000 Ordinary 1 1,000 1,000

11. RESERVES
Fair
value
reserve
£   
At 1 April 2022 384,603
Fair value transfer 876,028
Deferred tax transfer (153,214 )

At 31 March 2023 1,107,417

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23 31.3.22
£    £   
M S Treadwell
Balance outstanding at start of year 300 45,706
Amounts repaid - (45,406 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 300 300

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Thames News Services 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 Thames News Services Limited for the year ended 31 March 2023 which comprise the Income Statement, 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 the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Thames News Services 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 Thames News Services Limited and state those matters that we have agreed to state to the Board of Directors of Thames News Services Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Thames News Services Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Thames News Services 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 Thames News Services Limited. You consider that Thames News Services 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 Thames News Services 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.






Mudd Partners LLP
Chartered Accountants
Lakeview House
4 Woodbrook Crescent
Billericay
Essex
CM12 0EQ


Date: .............................................