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Registered Number: 08376745
England and Wales

 

 

 

WILLOW NEWS LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 November 2022

End date: 31 October 2023
Report to the directors on the preparation of the unaudited statutory accounts of Willow News Limited for the year ended 31 October 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Willow News Limited for the year ended 31 October 2023 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
This report is made solely to the Board of Directors of Willow News Limited, as a body, in accordance with the terms of our engagement letter dated 14 November 2023 Our work has been undertaken solely to prepare for your approval the accounts of Willow News Limited and state those matters that we have agreed to state to the Board of Directors of Willow News Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Willow News Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Willow News Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Willow News Limited. You consider that Willow News 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 accounts of Willow News 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 accounts
31 October 2023



....................................................
Sai Accountancy and Bookeeping
5 LOWER BROADACRE
STALYBRIDGE
CHESHIRE
SK15 2UE
14 November 2023
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Intangible fixed assets 3 26,880    28,800 
Tangible fixed assets 4 94,996    96,002 
121,876    124,802 
Current assets      
Stocks 14,565    12,565 
Cash at bank and in hand 65,794    56,362 
80,359    68,927 
Creditors: amount falling due within one year (39,009)   (40,667)
Net current assets 41,350    28,260 
 
Total assets less current liabilities 163,226    153,062 
Creditors: amount falling due after more than one year (32,820)   (43,470)
Net assets 130,406    109,592 
 

Capital and reserves
     
Called up share capital 5 100    100 
Profit and loss account 130,306    109,492 
Shareholder's funds 130,406    109,592 
 


For the year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 14 November 2023 and were signed on its behalf by:


-------------------------------
Mr Anand Mistry
Director
2
General Information
Willow News Limited is a private company, limited by shares, registered in England and Wales, registration number 08376745, registration address 405 Stockport Road, Denton, Manchester, M34 6EP.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 25 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles 20 Reducing Balance
Fixtures and Fittings 15 Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

There are casual wages paid to the staff .
Average number of employees during the year was 1 (2022 : 1).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 November 2022 48,000    48,000 
Additions  
Disposals  
At 31 October 2023 48,000    48,000 
Amortisation
At 01 November 2022 19,200    19,200 
Charge for year 1,920    1,920 
On disposals  
At 31 October 2023 21,120    21,120 
Net book values
At 31 October 2023 26,880    26,880 
At 31 October 2022 28,800    28,800 


4.

Tangible fixed assets

Cost or valuation Land and Buildings   Motor Vehicles   Fixtures and Fittings   Total
  £   £   £   £
At 01 November 2022 89,361    6,344    40,716    136,421 
Additions      
Disposals      
At 31 October 2023 89,361    6,344    40,716    136,421 
Depreciation
At 01 November 2022   6,154    34,265    40,419 
Charge for year   38    968    1,006 
On disposals      
At 31 October 2023   6,192    35,233    41,425 
Net book values
Closing balance as at 31 October 2023 89,361    152    5,483    94,996 
Opening balance as at 01 November 2022 89,361    190    6,451    96,002 


5.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
100 Class A shares of £1.00 each 100    100 
100    100 

3