IRIS Accounts Production v23.3.0.418 00929427 Board of Directors 1.4.22 31.3.23 31.3.23 19.11.23 false true false false false true false Auditors Opinion Ordinary A 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure009294272022-03-31009294272023-03-31009294272022-04-012023-03-31009294272021-03-31009294272021-04-012022-03-31009294272022-03-3100929427ns16:EnglandWales2022-04-012023-03-3100929427ns15:PoundSterling2022-04-012023-03-3100929427ns11:Director12022-04-012023-03-3100929427ns11:PrivateLimitedCompanyLtd2022-04-012023-03-3100929427ns11:SmallEntities2022-04-012023-03-3100929427ns11:Audited2022-04-012023-03-3100929427ns11:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3100929427ns11:SmallCompaniesRegimeForAccounts2022-04-012023-03-3100929427ns11:FullAccounts2022-04-012023-03-310092942712022-04-012023-03-3100929427ns11:OrdinaryShareClass12022-04-012023-03-3100929427ns11:Director32022-04-012023-03-3100929427ns11:CompanySecretary12022-04-012023-03-3100929427ns11:RegisteredOffice2022-04-012023-03-3100929427ns6:CurrentFinancialInstruments2023-03-3100929427ns6:CurrentFinancialInstruments2022-03-3100929427ns6:ShareCapital2023-03-3100929427ns6:ShareCapital2022-03-3100929427ns6:SharePremium2023-03-3100929427ns6:SharePremium2022-03-3100929427ns6:RevaluationReserve2023-03-3100929427ns6:RevaluationReserve2022-03-3100929427ns6:RetainedEarningsAccumulatedLosses2023-03-3100929427ns6:RetainedEarningsAccumulatedLosses2022-03-3100929427ns6:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3100929427ns6:IntangibleAssetsOtherThanGoodwill2022-03-3100929427ns6:IntangibleAssetsOtherThanGoodwill2023-03-3100929427ns6:IntangibleAssetsOtherThanGoodwill2022-03-3100929427ns6:LandBuildings2022-03-3100929427ns6:PlantMachinery2022-03-3100929427ns6:LandBuildings2022-04-012023-03-3100929427ns6:PlantMachinery2022-04-012023-03-3100929427ns6:LandBuildings2023-03-3100929427ns6:PlantMachinery2023-03-3100929427ns6:LandBuildings2022-03-3100929427ns6:PlantMachinery2022-03-3100929427ns6:WithinOneYearns6:CurrentFinancialInstruments2023-03-3100929427ns6:WithinOneYearns6:CurrentFinancialInstruments2022-03-3100929427ns6:WithinOneYear2023-03-3100929427ns6:WithinOneYear2022-03-3100929427ns11:OrdinaryShareClass12023-03-3100929427ns6:RevaluationReserve2022-03-31
REGISTERED NUMBER: 00929427 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

TINDLE NEWSPAPERS WEST COUNTRY LIMITED

TINDLE NEWSPAPERS WEST COUNTRY LIMITED (REGISTERED NUMBER: 00929427)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


TINDLE NEWSPAPERS WEST COUNTRY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mr D Cammiade
Mr S Wood





SECRETARY: Mr D Cammiade





REGISTERED OFFICE: The Old Court House
Union Road
Farnham
Surrey
GU9 7PT





REGISTERED NUMBER: 00929427 (England and Wales)





AUDITORS: Watson Associates (Audit Services) Ltd
Statutory Auditor
30 - 34 North Street
Hailsham
East Sussex
BN27 1DW

TINDLE NEWSPAPERS WEST COUNTRY LIMITED (REGISTERED NUMBER: 00929427)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 1 1
Tangible assets 5 431,364 443,462
431,365 443,463

CURRENT ASSETS
Debtors 6 120,623 121,732
Cash at bank and in hand 107,781 186,031
228,404 307,763
CREDITORS
Amounts falling due within one year 7 (127,726 ) (228,868 )
NET CURRENT ASSETS 100,678 78,895
TOTAL ASSETS LESS CURRENT
LIABILITIES

532,043

522,358

CAPITAL AND RESERVES
Called up share capital 9 7,400 7,400
Share premium 42,600 42,600
Revaluation reserve 10 257,452 257,452
Retained earnings 224,591 214,906
SHAREHOLDERS' FUNDS 532,043 522,358

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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 November 2023 and were signed on its behalf by:





Mr D Cammiade - Director


TINDLE NEWSPAPERS WEST COUNTRY LIMITED (REGISTERED NUMBER: 00929427)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Tindle Newspapers West Country 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.

The company uses 52/53 weeks accounting periods and has drawn up its financial statements for the 52 weeks to 2 April 2023. Balances as at that date are referred to as relating to 2023 in these financial statements. The 53 weeks to 3 April 2022 and balances at that date are referred to as relating to 2022.

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

Intangible assets
Intangible assets acquired separately from a business are recognised separately at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Publishing rights- Over ten years

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost or valuation of each asset to its estimated residual value on a straight line basis over its expected useful life, as follows:-

Freehold land and buildingsStraight line over 50 years
Plant & MachineryStraight line over 5 years

Land and buildings were valued using the revaluation model.

TINDLE NEWSPAPERS WEST COUNTRY LIMITED (REGISTERED NUMBER: 00929427)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

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 15 (2022 - 16 ) .

TINDLE NEWSPAPERS WEST COUNTRY LIMITED (REGISTERED NUMBER: 00929427)

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

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2022
and 31 March 2023 266,701
AMORTISATION
At 1 April 2022
and 31 March 2023 266,700
NET BOOK VALUE
At 31 March 2023 1
At 31 March 2022 1

5. TANGIBLE FIXED ASSETS
Freehold Plant and
property machinery Totals
£    £    £   
COST OR VALUATION
At 1 April 2022
and 31 March 2023 440,000 34,556 474,556
DEPRECIATION
At 1 April 2022 - 31,094 31,094
Charge for year 10,250 1,848 12,098
At 31 March 2023 10,250 32,942 43,192
NET BOOK VALUE
At 31 March 2023 429,750 1,614 431,364
At 31 March 2022 440,000 3,462 443,462

Cost or valuation at 31 March 2023 is represented by:

Freehold Plant and
property machinery Totals
£    £    £   
Valuation in 2022 169,454 - 169,454
Cost 270,546 34,556 305,102
440,000 34,556 474,556

TINDLE NEWSPAPERS WEST COUNTRY LIMITED (REGISTERED NUMBER: 00929427)

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

5. TANGIBLE FIXED ASSETS - continued

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

2023 2022
£    £   
Cost 270,546 270,546
Aggregate depreciation (77,905 ) (72,495 )

Value of land in freehold land and buildings 192,641 198,051

Freehold properties were valued on an open market basis on 19 August 2022 by Wilks, Head & Eve LLP .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 76,672 95,116
Other debtors 43,951 26,616
120,623 121,732

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 16,503 31,759
Amounts owed to group undertakings 43,302 133,014
Taxation and social security 30,414 37,029
Other creditors 37,507 27,066
127,726 228,868

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 726 4,143

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
7,400 Ordinary A £1 7,400 7,400

TINDLE NEWSPAPERS WEST COUNTRY LIMITED (REGISTERED NUMBER: 00929427)

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

10. RESERVES
Revaluation
reserve
£   
At 1 April 2022
and 31 March 2023 257,452

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Stephen James Moore (Senior Statutory Auditor)
for and on behalf of Watson Associates (Audit Services) Ltd

12. RELATED PARTY DISCLOSURES

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.

13. ULTIMATE PARENT COMPANY

The ultimate parent company is Tindle Press Holdings Limited, a company registered in England and Wales.

Tindle Press Holdings Limited prepare group financial statements, copies of which can be obtained from the Registrar of Companies, Companies House, Crown Way, Maindy, Cardiff, CF14 3UZ. Tindle Press Holdings Limited registered office is The Old Court House, Union Road, Farnham, Surrey, GU9 7PT.

14. GOVERNMENT GRANTS

Other income includes amounts received from the Government's Coronavirus Job Retention Scheme. The income is received in the form of grants.