REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 June 2022 |
for |
Newspaper House (SPV) Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 June 2022 |
for |
Newspaper House (SPV) Ltd |
Newspaper House (SPV) Ltd (Registered number: 12217980) |
Contents of the Financial Statements |
for the Year Ended 30 June 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Newspaper House (SPV) Ltd |
Company Information |
for the Year Ended 30 June 2022 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
Newspaper House (SPV) Ltd (Registered number: 12217980) |
Balance Sheet |
30 June 2022 |
2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
( |
) | ( |
) |
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. |
Newspaper House (SPV) Ltd (Registered number: 12217980) |
Balance Sheet - continued |
30 June 2022 |
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 |
Newspaper House (SPV) Ltd (Registered number: 12217980) |
Notes to the Financial Statements |
for the Year Ended 30 June 2022 |
1. | STATUTORY INFORMATION |
Newspaper House (SPV) Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
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. |
Financial instruments |
Basic financial instruments, including trade and other receivables and payables, cash and bank balances, bank loans and loans to or from other group companies are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method. |
Newspaper House (SPV) Ltd (Registered number: 12217980) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2022 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 July 2021 |
Additions |
At 30 June 2022 |
NET BOOK VALUE |
At 30 June 2022 |
At 30 June 2021 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Other creditors |
Newspaper House (SPV) Ltd (Registered number: 12217980) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2022 |
7. | SECURED DEBTS |
The following secured debts are included within creditors: |
2022 | 2021 |
£ | £ |
Bank loans & overdrafts | 4,959,366 | 2,182,776 |
Other loans | 1,247,402 | - |
Clearwell Development Finance Two Limited hold a fixed and floating charge dated 24 December 2021 over the assets of the company. |
Paragon Development Finance Limited hold a fixed charge over freehold property known as 16 - 26A (even) Albert Street, Swindon, land on the east side of Albert Street, Swindon and 100 Victoria Road, Swindon (SN1 3BE) and land at Little London, Swindon |
Fitzwilliam Trustees Number 1 Limited and Fitzwilliam Trustees Number 2 Limited hold a fixed charge dated 9 October 2020 over land at 100 Victoria Road, Swindon and freehold property known as 16-26A (even) Albert Street, Swindon. |